# EDGAR Filing Document

**Accession Number:** 0001227523
**File Stem:** 0001193125-25-135511
**Filing Date:** 2025-6
**Character Count:** 1171943
**Document Hash:** 040297c79c196f5bf5e68db7effd52b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-135511.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001193125-25-135511

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250331

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**EFFECTIVENESS DATE**: 20250605

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OPTIMUM FUND TRUST
- **CENTRAL INDEX KEY:** 0001227523

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

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21335
- **FILM NUMBER:** 251026087

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 800.914.0278

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BOB TRUST
- **DATE OF NAME CHANGE:** 20030415

## Series and Classes Contracts Data

### OPTIMUM FIXED INCOME FUND (Series ID: S000002420)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000006443 | OPTIMUM FIXED INCOME FUND CLASS A             | OAFIX           |
| C000006445 | OPTIMUM FIXED INCOME FUND CLASS C             | OCFIX           |
| C000006446 | OPTIMUM FIXED INCOME FUND INSTITUTIONAL CLASS | OIFIX           |

### OPTIMUM INTERNATIONAL FUND (Series ID: S000002421)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000006447 | OPTIMUM INTERNATIONAL FUND CLASS A             | OAIEX           |
| C000006449 | OPTIMUM INTERNATIONAL FUND CLASS C             | OCIEX           |
| C000006450 | OPTIMUM INTERNATIONAL FUND INSTITUTIONAL CLASS | OIIEX           |

### OPTIMUM LARGE CAP GROWTH FUND (Series ID: S000002422)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000006451 | OPTIMUM LARGE CAP GROWTH FUND CLASS A             | OALGX           |
| C000006453 | OPTIMUM LARGE CAP GROWTH FUND CLASS C             | OCLGX           |
| C000006454 | OPTIMUM LARGE CAP GROWTH FUND INSTITUTIONAL CLASS | OILGX           |

### OPTIMUM LARGE CAP VALUE FUND (Series ID: S000002423)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000006455 | OPTIMUM LARGE CAP VALUE FUND CLASS A             | OALVX           |
| C000006457 | OPTIMUM LARGE CAP VALUE FUND CLASS C             | OCLVX           |
| C000006458 | OPTIMUM LARGE CAP VALUE FUND INSTITUTIONAL CLASS | OILVX           |

### OPTIMUM SMALL-MID CAP GROWTH FUND (Series ID: S000002424)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000006459 | OPTIMUM SMALL-MID CAP GROWTH FUND CLASS A             | OASGX           |
| C000006461 | OPTIMUM SMALL-MID CAP GROWTH FUND CLASS C             | OCSGX           |
| C000006462 | OPTIMUM SMALL-MID CAP GROWTH FUND INSTITUTIONAL CLASS | OISGX           |

### OPTIMUM SMALL-MID CAP VALUE FUND (Series ID: S000002425)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000006463 | OPTIMUM SMALL-MID CAP VALUE FUND CLASS A             | OASVX           |
| C000006465 | OPTIMUM SMALL-MID CAP VALUE FUND CLASS C             | OCSVX           |
| C000006466 | OPTIMUM SMALL-MID CAP VALUE FUND INSTITUTIONAL CLASS | OISVX           |

?xml version='1.0' encoding='ASCII'? Optimum Fund Trust

#### 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

#### 811-21335

#### Optimum Fund Trust
(Exact name of registrant as specified in charter)

------

610 Market Street

Philadelphia, PA 19106

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp; (800) 523-1918

#### Date of fiscal year end:

#### March 31

#### Date of reporting period:

#### March 31, 2025
 **Item 1. Report to Stockholders.**

(a) The registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

![Macquarie Logo](g906425images_27603.jpg)

Optimum Fixed Income Fund

**Class A : OAFIX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Fixed Income Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$108 | &nbsp;&nbsp;1.05% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.04% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Fixed Income Fund (Class A) returned 4.79% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 4.88%.

#### Delaware Management Company (DMC)
The DMC portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Allocations to the corporate bond, securitized asset, and emerging markets sectors contributed to performance in the DMC portion of the Fund.

Selections within investment grade corporates and agency mortgage-backed securities (MBS) were additive to performance.

Treasury yields fluctuated over a wide range during the 12-month reporting period – 120 basis points – but ended just 10 basis points lower as the US economic outlook fluctuated, reflecting incoming data and expected policy changes (one basis point is a hundredth of a percentage point). DMC adjusted its portion of the Fund accordingly, and its duration positioning contributed to performance.

#### Top detractors from performance:
Security selection within below investment grade public corporates, especially allocations to higher-rated securities, hurt performance in the DMC portion of the Fund as lower-rated securities performed better.

The yield curve steepened over the reporting period, initially on a strong economy but more recently on fears of tariffs embedding stickier inflation (the yield curve shows the relationship between yields and maturities and can be a good indicator of the economic climate because it shows what investors think about future rates). The DMC portion of the Fund had curve flattening exposure particularly on the long end (30-year) that detracted from performance.

#### Pacific Investment Management Company LLC (PIMCO)
The PIMCO portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Yield curve positioning in the US, including overweight exposure to the intermediate section of the curve and underweight exposure to the long end, contributed to performance in the PIMCO portion of the Fund as the curve steepened.

Security selection within investment grade corporates, specifically in the financial and industrial sectors, contributed to performance.

Long exposure to the Turkish lira contributed to performance in the PIMCO portion of the Fund.

#### Top detractors from performance:
An overweight allocation to agency MBS detracted from performance in the PIMCO portion of the Fund, and the sector underperformed like-duration Treasurys.

A modest allocation to Brazilian local interest rates, which rose sharply over the reporting period, detracted from performance.

Exposure to Australian local interest rates, which rose early in the reporting period, detracted from performance.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824201.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Fixed Income Fund (Class A) – including sales charge | 0.12% | -0.83% | 0.74% |
| Optimum Fixed Income Fund (Class A) – excluding sales charge | 4.79% | 0.09% | 1.21% |
| Bloomberg US Aggregate Index | 4.88% | -0.40% | 1.46% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $2703285650 |
| Total number of portfolio holdings | 1406 |
| Total advisory fees paid | $13394869 |
| Portfolio turnover rate | 387% |

---

**Fund holdings** (as of March 31, 2025)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Portfolio composition

---

| | |
|:---|:---|
| Agency Mortgage-Backed Securities | 40.49% |
| Corporate Bonds | 31.77% |
| Short-Term Investments | 18.74% |
| US Treasury Obligations | 17.04% |
| Non-Agency Commercial Mortgage-Backed Securities | 4.44% |
| Collateralized Debt Obligations | 4.43% |
| Non-Agency Asset-Backed Securities | 3.72% |
| Sovereign Bonds | 3.62% |
| Non-Agency Collateralized Mortgage Obligations | 3.02% |
| Loan Agreements | 1.92% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class A shares of 0.80% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Fixed Income Fund

**Class C : OCFIX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Fixed Income Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$184 | &nbsp;&nbsp;1.80% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.79% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Fixed Income Fund (Class C) returned 3.91% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 4.88%.

#### Delaware Management Company (DMC)
The DMC portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Allocations to the corporate bond, securitized asset, and emerging markets sectors contributed to performance in the DMC portion of the Fund.

Selections within investment grade corporates and agency mortgage-backed securities (MBS) were additive to performance.

Treasury yields fluctuated over a wide range during the 12-month reporting period – 120 basis points – but ended just 10 basis points lower as the US economic outlook fluctuated, reflecting incoming data and expected policy changes (one basis point is a hundredth of a percentage point). DMC adjusted its portion of the Fund accordingly, and its duration positioning contributed to performance.

#### Top detractors from performance:
Security selection within below investment grade public corporates, especially allocations to higher-rated securities, hurt performance in the DMC portion of the Fund as lower-rated securities performed better.

The yield curve steepened over the reporting period, initially on a strong economy but more recently on fears of tariffs embedding stickier inflation (the yield curve shows the relationship between yields and maturities and can be a good indicator of the economic climate because it shows what investors think about future rates). The DMC portion of the Fund had curve flattening exposure particularly on the long end (30-year) that detracted from performance.

#### Pacific Investment Management Company LLC (PIMCO)
The PIMCO portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Yield curve positioning in the US, including overweight exposure to the intermediate section of the curve and underweight exposure to the long end, contributed to performance in the PIMCO portion of the Fund as the curve steepened.

Security selection within investment grade corporates, specifically in the financial and industrial sectors, contributed to performance.

Long exposure to the Turkish lira contributed to performance in the PIMCO portion of the Fund.

#### Top detractors from performance:
An overweight allocation to agency MBS detracted from performance in the PIMCO portion of the Fund, and the sector underperformed like-duration Treasurys.

A modest allocation to Brazilian local interest rates, which rose sharply over the reporting period, detracted from performance.

Exposure to Australian local interest rates, which rose early in the reporting period, detracted from performance.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824240.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Fixed Income Fund (Class C) – including sales charge | 2.91% | -0.68% | 0.44% |
| Optimum Fixed Income Fund (Class C) – excluding sales charge | 3.91% | -0.68% | 0.44% |
| Bloomberg US Aggregate Index | 4.88% | -0.40% | 1.46% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $2703285650 |
| Total number of portfolio holdings | 1406 |
| Total advisory fees paid | $13394869 |
| Portfolio turnover rate | 387% |

---

**Fund holdings** (as of March 31, 2025)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Portfolio composition

---

| | |
|:---|:---|
| Agency Mortgage-Backed Securities | 40.49% |
| Corporate Bonds | 31.77% |
| Short-Term Investments | 18.74% |
| US Treasury Obligations | 17.04% |
| Non-Agency Commercial Mortgage-Backed Securities | 4.44% |
| Collateralized Debt Obligations | 4.43% |
| Non-Agency Asset-Backed Securities | 3.72% |
| Sovereign Bonds | 3.62% |
| Non-Agency Collateralized Mortgage Obligations | 3.02% |
| Loan Agreements | 1.92% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class C shares of 0.80% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Fixed Income Fund

**Institutional Class : OIFIX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Fixed Income Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$82 | &nbsp;&nbsp;0.80% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 0.79% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Fixed Income Fund (Institutional Class) returned 5.06% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 4.88%.

#### Delaware Management Company (DMC)
The DMC portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Allocations to the corporate bond, securitized asset, and emerging markets sectors contributed to performance in the DMC portion of the Fund.

Selections within investment grade corporates and agency mortgage-backed securities (MBS) were additive to performance.

Treasury yields fluctuated over a wide range during the 12-month reporting period – 120 basis points – but ended just 10 basis points lower as the US economic outlook fluctuated, reflecting incoming data and expected policy changes (one basis point is a hundredth of a percentage point). DMC adjusted its portion of the Fund accordingly, and its duration positioning contributed to performance.

#### Top detractors from performance:
Security selection within below investment grade public corporates, especially allocations to higher-rated securities, hurt performance in the DMC portion of the Fund as lower-rated securities performed better.

The yield curve steepened over the reporting period, initially on a strong economy but more recently on fears of tariffs embedding stickier inflation (the yield curve shows the relationship between yields and maturities and can be a good indicator of the economic climate because it shows what investors think about future rates). The DMC portion of the Fund had curve flattening exposure particularly on the long end (30-year) that detracted from performance.

#### Pacific Investment Management Company LLC (PIMCO)
The PIMCO portion of the Fund outperformed the Bloomberg US Aggregate Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Yield curve positioning in the US, including overweight exposure to the intermediate section of the curve and underweight exposure to the long end, contributed to performance in the PIMCO portion of the Fund as the curve steepened.

Security selection within investment grade corporates, specifically in the financial and industrial sectors, contributed to performance.

Long exposure to the Turkish lira contributed to performance in the PIMCO portion of the Fund.

#### Top detractors from performance:
An overweight allocation to agency MBS detracted from performance in the PIMCO portion of the Fund, and the sector underperformed like-duration Treasurys.

A modest allocation to Brazilian local interest rates, which rose sharply over the reporting period, detracted from performance.

Exposure to Australian local interest rates, which rose early in the reporting period, detracted from performance.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824279.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Fixed Income Fund (Institutional Class) – including sales charge | 5.06% | 0.34% | 1.46% |
| Optimum Fixed Income Fund (Institutional Class) – excluding sales charge | 5.06% | 0.34% | 1.46% |
| Bloomberg US Aggregate Index | 4.88% | -0.40% | 1.46% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $2703285650 |
| Total number of portfolio holdings | 1406 |
| Total advisory fees paid | $13394869 |
| Portfolio turnover rate | 387% |

---

**Fund holdings** (as of March 31, 2025)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Portfolio composition

---

| | |
|:---|:---|
| Agency Mortgage-Backed Securities | 40.49% |
| Corporate Bonds | 31.77% |
| Short-Term Investments | 18.74% |
| US Treasury Obligations | 17.04% |
| Non-Agency Commercial Mortgage-Backed Securities | 4.44% |
| Collateralized Debt Obligations | 4.43% |
| Non-Agency Asset-Backed Securities | 3.72% |
| Sovereign Bonds | 3.62% |
| Non-Agency Collateralized Mortgage Obligations | 3.02% |
| Loan Agreements | 1.92% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 0.80% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum International Fund

**Class A : OAIEX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum International Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$138 | &nbsp;&nbsp;1.33% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.32% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum International Fund (Class A) returned 7.42% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the MSCI ACWI (All Country World Index) ex USA Index (net) and MSCI ACWI ex USA Index (gross), the Fund's broad-based securities market index, returned 6.09% and 6.65%, respectively.

#### Acadian Asset Management LLC (Acadian)
The Acadian portion of the Fund outperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
At the country level, the primary drivers of outperformance versus the benchmark included a combination of stock selection and an underweight position in France. Additionally, a combination of stock selection and overweight positions in Sweden and the United Arab Emirates contributed to performance in the Acadian portion of the Fund.

At the sector level, the primary drivers of outperformance included stock selection in financials, industrials, and real estate.

#### Top detractors from performance:
At the country level, the primary detractors from performance versus the benchmark included stock selection in India, China, and Taiwan.

At the sector level, detractors in the Acadian portion of the Fund included stock selection in consumer discretionary, a combination of stock selection and an overweight position in energy, and an underweight position in utilities.

#### Baillie Gifford Overseas Limited (Baillie Gifford)
The Baillie Gifford portion of the Fund underperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Companies that have continued to demonstrate strong operational performance in the form of high growth and increasing profitability and returns drove performance during the reporting period.

The strongest contributors to performance in the Baillie Gifford portion of the Fund were MercadoLibre Inc. and Spotify Technology SA. Both companies continued to grow their user base, take market share, and innovate to strengthen their competitive advantage, while maintaining strong profitability.

The strongest-performing sectors versus the benchmark included communication services and consumer discretionary, where an overweight position was supported by positive selection within those sectors.

#### Top detractors from performance:
Cyclical companies that may suffer in the event of a consumer recession globally drove underperformance. European industrials were particularly affected.

The weakest performers in the Baillie Gifford portion of the Fund were Ryanair Holdings PLC and Samsung Electronics Co. Ltd. Both companies posted a weaker-than-expected earnings report and outlook and struggled operationally.

An underweight in financials also detracted from performance in the Baillie Gifford portion of the Fund as the prospects for higher rates benefited this sector.

The weakest-performing sectors included financials and industrials. Baillie Gifford was underweight in financials and the sector performed well. Conversely, an overweight in industrials hurt its portion of the Fund.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824318.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum International Fund (Class A) – including sales charge | 1.25% | 8.99% | 4.13% |
| Optimum International Fund (Class A) – excluding sales charge | 7.42% | 10.30% | 4.74% |
| MSCI ACWI ex USA Index (net) | 6.09% | 10.92% | 4.98% |
| MSCI ACWI ex USA Index (gross) | 6.65% | 11.46% | 5.48% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $803231191 |
| Total number of portfolio holdings | 535 |
| Total advisory fees paid | $5975814 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Country allocation

---

| | |
|:---|:---|
| China | 12.67% |
| Japan | 10.14% |
| Taiwan | 7.12% |
| Germany | 6.66% |
| France | 5.97% |
| Switzerland | 5.94% |
| Canada | 4.98% |
| Netherlands | 4.82% |
| Ireland | 4.12% |
| India | 3.86% |

---

Sector allocation

---

| | |
|:---|:---|
| Financials | 22.13% |
| Information Technology | 21.98% |
| Industrials | 15.81% |
| Communication Services | 11.32% |
| Consumer Discretionary | 11.02% |
| Healthcare | 5.52% |
| Materials | 3.65% |
| Consumer Staples | 3.38% |
| Energy | 2.56% |
| Real Estate | 1.19% |
| Utilities | 0.37% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing | 3.06% |
| Tencent Holdings | 2.58% |
| Roche Holding | 2.33% |
| Deutsche Boerse | 1.89% |
| MercadoLibre | 1.73% |
| Sea ADR | 1.42% |
| Spotify Technology | 1.34% |
| China Construction Bank Class H | 1.26% |
| Sony Group | 1.23% |
| Experian | 1.22% |

---

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum International Fund

**Class C : OCIEX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum International Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$215 | &nbsp;&nbsp;2.08% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 2.07% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum International Fund (Class C) returned 6.67% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the MSCI ACWI (All Country World Index) ex USA Index (net) and MSCI ACWI ex USA Index (gross), the Fund's broad-based securities market index, returned 6.09% and 6.65%, respectively.

#### Acadian Asset Management LLC (Acadian)
The Acadian portion of the Fund outperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
At the country level, the primary drivers of outperformance versus the benchmark included a combination of stock selection and an underweight position in France. Additionally, a combination of stock selection and overweight positions in Sweden and the United Arab Emirates contributed to performance in the Acadian portion of the Fund.

At the sector level, the primary drivers of outperformance included stock selection in financials, industrials, and real estate.

#### Top detractors from performance:
At the country level, the primary detractors from performance versus the benchmark included stock selection in India, China, and Taiwan.

At the sector level, detractors in the Acadian portion of the Fund included stock selection in consumer discretionary, a combination of stock selection and an overweight position in energy, and an underweight position in utilities.

#### Baillie Gifford Overseas Limited (Baillie Gifford)
The Baillie Gifford portion of the Fund underperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Companies that have continued to demonstrate strong operational performance in the form of high growth and increasing profitability and returns drove performance during the reporting period.

The strongest contributors to performance in the Baillie Gifford portion of the Fund were MercadoLibre Inc. and Spotify Technology SA. Both companies continued to grow their user base, take market share, and innovate to strengthen their competitive advantage, while maintaining strong profitability.

The strongest-performing sectors versus the benchmark included communication services and consumer discretionary, where an overweight position was supported by positive selection within those sectors.

#### Top detractors from performance:
Cyclical companies that may suffer in the event of a consumer recession globally drove underperformance. European industrials were particularly affected.

The weakest performers in the Baillie Gifford portion of the Fund were Ryanair Holdings PLC and Samsung Electronics Co. Ltd. Both companies posted a weaker-than-expected earnings report and outlook and struggled operationally.

An underweight in financials also detracted from performance in the Baillie Gifford portion of the Fund as the prospects for higher rates benefited this sector.

The weakest-performing sectors included financials and industrials. Baillie Gifford was underweight in financials and the sector performed well. Conversely, an overweight in industrials hurt its portion of the Fund.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824357.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum International Fund (Class C) – including sales charge | 5.67% | 9.48% | 3.96% |
| Optimum International Fund (Class C) – excluding sales charge | 6.67% | 9.48% | 3.96% |
| MSCI ACWI ex USA Index (net) | 6.09% | 10.92% | 4.98% |
| MSCI ACWI ex USA Index (gross) | 6.65% | 11.46% | 5.48% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $803231191 |
| Total number of portfolio holdings | 535 |
| Total advisory fees paid | $5975814 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Country allocation

---

| | |
|:---|:---|
| China | 12.67% |
| Japan | 10.14% |
| Taiwan | 7.12% |
| Germany | 6.66% |
| France | 5.97% |
| Switzerland | 5.94% |
| Canada | 4.98% |
| Netherlands | 4.82% |
| Ireland | 4.12% |
| India | 3.86% |

---

Sector allocation

---

| | |
|:---|:---|
| Financials | 22.13% |
| Information Technology | 21.98% |
| Industrials | 15.81% |
| Communication Services | 11.32% |
| Consumer Discretionary | 11.02% |
| Healthcare | 5.52% |
| Materials | 3.65% |
| Consumer Staples | 3.38% |
| Energy | 2.56% |
| Real Estate | 1.19% |
| Utilities | 0.37% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing | 3.06% |
| Tencent Holdings | 2.58% |
| Roche Holding | 2.33% |
| Deutsche Boerse | 1.89% |
| MercadoLibre | 1.73% |
| Sea ADR | 1.42% |
| Spotify Technology | 1.34% |
| China Construction Bank Class H | 1.26% |
| Sony Group | 1.23% |
| Experian | 1.22% |

---

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum International Fund

**Institutional Class : OIIEX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum International Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$112 | &nbsp;&nbsp;1.08% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.07% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum International Fund (Institutional Class) returned 7.69% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the MSCI ACWI (All Country World Index) ex USA Index (net) and MSCI ACWI ex USA Index (gross), the Fund's broad-based securities market index, returned 6.09% and 6.65%, respectively.

#### Acadian Asset Management LLC (Acadian)
The Acadian portion of the Fund outperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
At the country level, the primary drivers of outperformance versus the benchmark included a combination of stock selection and an underweight position in France. Additionally, a combination of stock selection and overweight positions in Sweden and the United Arab Emirates contributed to performance in the Acadian portion of the Fund.

At the sector level, the primary drivers of outperformance included stock selection in financials, industrials, and real estate.

#### Top detractors from performance:
At the country level, the primary detractors from performance versus the benchmark included stock selection in India, China, and Taiwan.

At the sector level, detractors in the Acadian portion of the Fund included stock selection in consumer discretionary, a combination of stock selection and an overweight position in energy, and an underweight position in utilities.

#### Baillie Gifford Overseas Limited (Baillie Gifford)
The Baillie Gifford portion of the Fund underperformed the MSCI ACWI ex USA Index during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Companies that have continued to demonstrate strong operational performance in the form of high growth and increasing profitability and returns drove performance during the reporting period.

The strongest contributors to performance in the Baillie Gifford portion of the Fund were MercadoLibre Inc. and Spotify Technology SA. Both companies continued to grow their user base, take market share, and innovate to strengthen their competitive advantage, while maintaining strong profitability.

The strongest-performing sectors versus the benchmark included communication services and consumer discretionary, where an overweight position was supported by positive selection within those sectors.

#### Top detractors from performance:
Cyclical companies that may suffer in the event of a consumer recession globally drove underperformance. European industrials were particularly affected.

The weakest performers in the Baillie Gifford portion of the Fund were Ryanair Holdings PLC and Samsung Electronics Co. Ltd. Both companies posted a weaker-than-expected earnings report and outlook and struggled operationally.

An underweight in financials also detracted from performance in the Baillie Gifford portion of the Fund as the prospects for higher rates benefited this sector.

The weakest-performing sectors included financials and industrials. Baillie Gifford was underweight in financials and the sector performed well. Conversely, an overweight in industrials hurt its portion of the Fund.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824396.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum International Fund (Institutional Class) – including sales charge | 7.69% | 10.58% | 5.00% |
| Optimum International Fund (Institutional Class) – excluding sales charge | 7.69% | 10.58% | 5.00% |
| MSCI ACWI ex USA Index (net) | 6.09% | 10.92% | 4.98% |
| MSCI ACWI ex USA Index (gross) | 6.65% | 11.46% | 5.48% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $803231191 |
| Total number of portfolio holdings | 535 |
| Total advisory fees paid | $5975814 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Country allocation

---

| | |
|:---|:---|
| China | 12.67% |
| Japan | 10.14% |
| Taiwan | 7.12% |
| Germany | 6.66% |
| France | 5.97% |
| Switzerland | 5.94% |
| Canada | 4.98% |
| Netherlands | 4.82% |
| Ireland | 4.12% |
| India | 3.86% |

---

Sector allocation

---

| | |
|:---|:---|
| Financials | 22.13% |
| Information Technology | 21.98% |
| Industrials | 15.81% |
| Communication Services | 11.32% |
| Consumer Discretionary | 11.02% |
| Healthcare | 5.52% |
| Materials | 3.65% |
| Consumer Staples | 3.38% |
| Energy | 2.56% |
| Real Estate | 1.19% |
| Utilities | 0.37% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing | 3.06% |
| Tencent Holdings | 2.58% |
| Roche Holding | 2.33% |
| Deutsche Boerse | 1.89% |
| MercadoLibre | 1.73% |
| Sea ADR | 1.42% |
| Spotify Technology | 1.34% |
| China Construction Bank Class H | 1.26% |
| Sony Group | 1.23% |
| Experian | 1.22% |

---

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Growth Fund

**Class A : OALGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$124 | &nbsp;&nbsp;1.21% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.20% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Growth Fund (Class A) returned 4.97% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Growth Index, the Fund's narrowly based securities market index, returned 7.76%.

#### American Century Investment Management Inc. (American Century)
The American Century portion of the Fund underperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Positioning in the consumer staples sector (consumer staples distribution and retail) contributed to performance in the American Century portion of the Fund. Its portion of the Fund benefited from an underweight to low-cost retailers, which faced challenges from uncertainty around inflation, growth and consumer spending.

Stock selection in materials was also a contributor relative to the benchmark. Uncertainty about the economy, interest rates and trade weighed on many of these stocks, so stock choices among them helped performance. A notable contributor in the sector was an overweight to Ecolab Inc., a hygiene and infection-prevention company for food service, healthcare, and other end markets.

#### Top detractors from performance:
Stock selection in the consumer discretionary sector (hotels, restaurants and leisure) detracted from performance in the American Century portion of the Fund. Concerns about the economy and consumer spending led to profit-taking in a number of formerly strong-performing restaurants and textile apparel companies, including Lululemon Athletica Inc., Wingstop Inc., and Chipotle Mexican Grill Inc.

Stock choices in the industrials sector (building products) were a detractor during the reporting period. A slowdown in nonresidential construction activity weighed on industrials stocks, as did questions about the durability of spending on data centers. Advanced Drainage Systems Inc. was a notable detractor from relative results. The stock fell as the company lowered its revenue outlook but maintained earnings expectations.

#### Los Angeles Capital Management LLC (Los Angeles Capital)
The Los Angeles Capital portion of the Fund outperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
A consistent preference for quality stocks with strong management teams that demonstrated solid operating skills contributed to the Los Angeles Capital portion of the Fund.

A tilt toward stocks with upwards analyst revisions and strong sales growth helped performance during the reporting period.

The technology and communication services sectors contributed to performance, driven by Los Angeles Capital's exposure to NVIDIA Corp. and Netflix Inc., which performed strongly over the reporting period and exhibited the fundamental characteristics investors rewarded.

#### Top detractors from performance:
Modest exposure to companies with heightened business risk detracted from performance in the Los Angeles Capital portion of the Fund as market participants embraced lower volatility stocks amid economic concerns.

Reduced exposure to stocks exhibiting speculative behavior with price activity that were not justified by their fundamentals held performance back during the reporting period.

The consumer cyclicals sector detracted from performance, driven by Los Angeles Capital's modest exposure to Lululemon Athletica Inc. and its average underweight to Tesla Inc., which Los Angeles Capital showed caution towards given its rich forward valuation.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824435.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Growth Fund (Class A) – including sales charge | -1.06% | 13.51% | 10.90% |
| Optimum Large Cap Growth Fund (Class A) – excluding sales charge | 4.97% | 14.87% | 11.56% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Growth Index | 7.76% | 20.09% | 15.12% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1859889074 |
| Total number of portfolio holdings | 128 |
| Total advisory fees paid | $13776111 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 42.63% |
| Communication Services | 14.41% |
| Consumer Discretionary | 14.15% |
| Financials | 10.73% |
| Healthcare | 9.01% |
| Industrials | 3.29% |
| Consumer Staples | 2.42% |
| Energy | 1.09% |
| Materials | 0.64% |
| Real Estate | 0.59% |
| Utilities | 0.08% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Apple | 11.41% |
| NVIDIA | 10.18% |
| Microsoft | 8.28% |
| Amazon.com | 6.68% |
| Meta Platforms Class A | 4.31% |
| Netflix | 3.39% |
| Mastercard Class A | 3.36% |
| Alphabet Class A | 3.27% |
| Alphabet Class C | 3.09% |
| Tesla | 2.57% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class A shares of 0.95% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Growth Fund

**Class C : OCLGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$200 | &nbsp;&nbsp;1.96% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.95% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Growth Fund (Class C) returned 4.20% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Growth Index, the Fund's narrowly based securities market index, returned 7.76%.

#### American Century Investment Management Inc. (American Century)
The American Century portion of the Fund underperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Positioning in the consumer staples sector (consumer staples distribution and retail) contributed to performance in the American Century portion of the Fund. Its portion of the Fund benefited from an underweight to low-cost retailers, which faced challenges from uncertainty around inflation, growth and consumer spending.

Stock selection in materials was also a contributor relative to the benchmark. Uncertainty about the economy, interest rates and trade weighed on many of these stocks, so stock choices among them helped performance. A notable contributor in the sector was an overweight to Ecolab Inc., a hygiene and infection-prevention company for food service, healthcare, and other end markets.

#### Top detractors from performance:
Stock selection in the consumer discretionary sector (hotels, restaurants and leisure) detracted from performance in the American Century portion of the Fund. Concerns about the economy and consumer spending led to profit-taking in a number of formerly strong-performing restaurants and textile apparel companies, including Lululemon Athletica Inc., Wingstop Inc., and Chipotle Mexican Grill Inc.

Stock choices in the industrials sector (building products) were a detractor during the reporting period. A slowdown in nonresidential construction activity weighed on industrials stocks, as did questions about the durability of spending on data centers. Advanced Drainage Systems Inc. was a notable detractor from relative results. The stock fell as the company lowered its revenue outlook but maintained earnings expectations.

#### Los Angeles Capital Management LLC (Los Angeles Capital)
The Los Angeles Capital portion of the Fund outperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
A consistent preference for quality stocks with strong management teams that demonstrated solid operating skills contributed to the Los Angeles Capital portion of the Fund.

A tilt toward stocks with upwards analyst revisions and strong sales growth helped performance during the reporting period.

The technology and communication services sectors contributed to performance, driven by Los Angeles Capital's exposure to NVIDIA Corp. and Netflix Inc., which performed strongly over the reporting period and exhibited the fundamental characteristics investors rewarded.

#### Top detractors from performance:
Modest exposure to companies with heightened business risk detracted from performance in the Los Angeles Capital portion of the Fund as market participants embraced lower volatility stocks amid economic concerns.

Reduced exposure to stocks exhibiting speculative behavior with price activity that were not justified by their fundamentals held performance back during the reporting period.

The consumer cyclicals sector detracted from performance, driven by Los Angeles Capital's modest exposure to Lululemon Athletica Inc. and its average underweight to Tesla Inc., which Los Angeles Capital showed caution towards given its rich forward valuation.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824474.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Growth Fund (Class C) – including sales charge | 3.30% | 14.00% | 10.73% |
| Optimum Large Cap Growth Fund (Class C) – excluding sales charge | 4.20% | 14.00% | 10.73% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Growth Index | 7.76% | 20.09% | 15.12% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1859889074 |
| Total number of portfolio holdings | 128 |
| Total advisory fees paid | $13776111 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 42.63% |
| Communication Services | 14.41% |
| Consumer Discretionary | 14.15% |
| Financials | 10.73% |
| Healthcare | 9.01% |
| Industrials | 3.29% |
| Consumer Staples | 2.42% |
| Energy | 1.09% |
| Materials | 0.64% |
| Real Estate | 0.59% |
| Utilities | 0.08% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Apple | 11.41% |
| NVIDIA | 10.18% |
| Microsoft | 8.28% |
| Amazon.com | 6.68% |
| Meta Platforms Class A | 4.31% |
| Netflix | 3.39% |
| Mastercard Class A | 3.36% |
| Alphabet Class A | 3.27% |
| Alphabet Class C | 3.09% |
| Tesla | 2.57% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class C shares of 0.95% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Growth Fund

**Institutional Class : OILGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$99 | &nbsp;&nbsp;0.96% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 0.95% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Growth Fund (Institutional Class) returned 5.21% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Growth Index, the Fund's narrowly based securities market index, returned 7.76%.

#### American Century Investment Management Inc. (American Century)
The American Century portion of the Fund underperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Positioning in the consumer staples sector (consumer staples distribution and retail) contributed to performance in the American Century portion of the Fund. Its portion of the Fund benefited from an underweight to low-cost retailers, which faced challenges from uncertainty around inflation, growth and consumer spending.

Stock selection in materials was also a contributor relative to the benchmark. Uncertainty about the economy, interest rates and trade weighed on many of these stocks, so stock choices among them helped performance. A notable contributor in the sector was an overweight to Ecolab Inc., a hygiene and infection-prevention company for food service, healthcare, and other end markets.

#### Top detractors from performance:
Stock selection in the consumer discretionary sector (hotels, restaurants and leisure) detracted from performance in the American Century portion of the Fund. Concerns about the economy and consumer spending led to profit-taking in a number of formerly strong-performing restaurants and textile apparel companies, including Lululemon Athletica Inc., Wingstop Inc., and Chipotle Mexican Grill Inc.

Stock choices in the industrials sector (building products) were a detractor during the reporting period. A slowdown in nonresidential construction activity weighed on industrials stocks, as did questions about the durability of spending on data centers. Advanced Drainage Systems Inc. was a notable detractor from relative results. The stock fell as the company lowered its revenue outlook but maintained earnings expectations.

#### Los Angeles Capital Management LLC (Los Angeles Capital)
The Los Angeles Capital portion of the Fund outperformed the Russell 1000 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
A consistent preference for quality stocks with strong management teams that demonstrated solid operating skills contributed to the Los Angeles Capital portion of the Fund.

A tilt toward stocks with upwards analyst revisions and strong sales growth helped performance during the reporting period.

The technology and communication services sectors contributed to performance, driven by Los Angeles Capital's exposure to NVIDIA Corp. and Netflix Inc., which performed strongly over the reporting period and exhibited the fundamental characteristics investors rewarded.

#### Top detractors from performance:
Modest exposure to companies with heightened business risk detracted from performance in the Los Angeles Capital portion of the Fund as market participants embraced lower volatility stocks amid economic concerns.

Reduced exposure to stocks exhibiting speculative behavior with price activity that were not justified by their fundamentals held performance back during the reporting period.

The consumer cyclicals sector detracted from performance, driven by Los Angeles Capital's modest exposure to Lululemon Athletica Inc. and its average underweight to Tesla Inc., which Los Angeles Capital showed caution towards given its rich forward valuation.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824513.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Growth Fund (Institutional Class) – including sales charge | 5.21% | 15.15% | 11.85% |
| Optimum Large Cap Growth Fund (Institutional Class) – excluding sales charge | 5.21% | 15.15% | 11.85% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Growth Index | 7.76% | 20.09% | 15.12% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1859889074 |
| Total number of portfolio holdings | 128 |
| Total advisory fees paid | $13776111 |
| Portfolio turnover rate | 54% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 42.63% |
| Communication Services | 14.41% |
| Consumer Discretionary | 14.15% |
| Financials | 10.73% |
| Healthcare | 9.01% |
| Industrials | 3.29% |
| Consumer Staples | 2.42% |
| Energy | 1.09% |
| Materials | 0.64% |
| Real Estate | 0.59% |
| Utilities | 0.08% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Apple | 11.41% |
| NVIDIA | 10.18% |
| Microsoft | 8.28% |
| Amazon.com | 6.68% |
| Meta Platforms Class A | 4.31% |
| Netflix | 3.39% |
| Mastercard Class A | 3.36% |
| Alphabet Class A | 3.27% |
| Alphabet Class C | 3.09% |
| Tesla | 2.57% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 0.95% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Value Fund

**Class A : OALVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$120 | &nbsp;&nbsp;1.17% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.16% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Value Fund (Class A) returned 5.53% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Value Index, the Fund's narrowly based securities market index, returned 7.18%.

#### Massachusetts Financial Services Company (MFS)
The MFS portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
On aggregate, sector allocation relative to the benchmark contributed to relative performance in the MFS portion of the Fund.

A combination of an overweight allocation and security selection within the financials sector further helped relative performance versus the benchmark.

Stock selection within the healthcare sector contributed to relative results.

An overweight allocation to the utilities sector was a contributor to relative performance in the MFS portion of the Fund.

Overweight holdings of The Progressive Corp., McKesson Corp., JPMorgan Chase & Co., and RTX Corp. contributed to performance. Not owning shares of Intel Corp. was also a contributor.

#### Top detractors from performance:
Position weightings (for example, security selection) detracted from relative results in the MFS portion of the Fund.

Stock selection within the consumer staples sector hurt performance relative to the benchmark.

Not owning shares of Berkshire Hathaway Inc. and Walmart Inc. detracted from performance in MFS's portion of the Fund. Additionally, MFS's timing of ownership in shares of Target Corp. and Merck & Co. Inc. hindered relative returns.

An overweight position in ConocoPhillips hindered performance versus the benchmark.

#### Great Lakes Advisors, LLC (Great Lakes)
The Great Lakes portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Against a volatile market backdrop, stock selection was strong in the technology, healthcare, and consumer services sectors relative to the benchmark.

The strongest-performing stocks over the reporting period were a diverse group and reflects Great Lakes's philosophy on maintaining a balanced portfolio with representation to virtually every major economic sector.

Notable contributors to performance in the Great Lakes portion of the Fund included Boston Scientific Corp., a producer of minimally invasive medical devices; Fox Corp., a media provider; Broadcom Inc., a semiconductor manufacturer with exposure to artificial intelligence (AI); RTX Corp., a diversified aerospace/defense contractor; and Duke Energy Corp., a regulated utility with operations primarily in the southeast of the US.

#### Top detractors from performance:
Sector allocation detracted from performance, as evidenced by Great Lakes's underweight positions in utilities and telecommunications. The reporting period was marked by extreme volatility that ultimately concluded in a broad rotation to defensive-oriented stocks, regardless of underlying operating fundamentals or relative valuation. An overweight position to healthcare stocks relative to the benchmark also proved to be a headwind to relative performance in the Great Lakes portion of the Fund.

Stock selection in the energy, manufacturing, and consumer discretionary sectors detracted from performance in the Great Lakes portion of the Fund, reflecting both stock-specific and macroeconomic issues.

Notable underperformers relative to the benchmark included Merck & Co. Inc., a global pharmaceutical company that was hurt by product issues in China, and Target Corp., a general merchandise company operating within a competitive retail space.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824552.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Value Fund (Class A) – including sales charge | -0.53% | 14.14% | 7.46% |
| Optimum Large Cap Value Fund (Class A) – excluding sales charge | 5.53% | 15.50% | 8.10% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Value Index | 7.18% | 16.15% | 8.79% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1840888315 |
| Total number of portfolio holdings | 124 |
| Total advisory fees paid | $11606072 |
| Portfolio turnover rate | 11% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 26.39% |
| Healthcare | 16.70% |
| Industrials | 15.35% |
| Information Technology | 7.29% |
| Energy | 7.15% |
| Consumer Staples | 6.27% |
| Utilities | 6.02% |
| Consumer Discretionary | 3.96% |
| Communication Services | 3.64% |
| Materials | 3.16% |
| Real Estate | 2.94% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| JPMorgan Chase & Co. | 4.12% |
| Progressive | 2.27% |
| Exxon Mobil | 2.25% |
| RTX | 2.12% |
| Abbott Laboratories | 1.89% |
| ConocoPhillips | 1.81% |
| Duke Energy | 1.80% |
| AbbVie | 1.75% |
| Lowe's | 1.74% |
| Johnson & Johnson | 1.70% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class A shares of 0.91% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Value Fund

**Class C : OCLVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$197 | &nbsp;&nbsp;1.92% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.91% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Value Fund (Class C) returned 4.81% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Value Index, the Fund's narrowly based securities market index, returned 7.18%.

#### Massachusetts Financial Services Company (MFS)
The MFS portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
On aggregate, sector allocation relative to the benchmark contributed to relative performance in the MFS portion of the Fund.

A combination of an overweight allocation and security selection within the financials sector further helped relative performance versus the benchmark.

Stock selection within the healthcare sector contributed to relative results.

An overweight allocation to the utilities sector was a contributor to relative performance in the MFS portion of the Fund.

Overweight holdings of The Progressive Corp., McKesson Corp., JPMorgan Chase & Co., and RTX Corp. contributed to performance. Not owning shares of Intel Corp. was also a contributor.

#### Top detractors from performance:
Position weightings (for example, security selection) detracted from relative results in the MFS portion of the Fund.

Stock selection within the consumer staples sector hurt performance relative to the benchmark.

Not owning shares of Berkshire Hathaway Inc. and Walmart Inc. detracted from performance in MFS's portion of the Fund. Additionally, MFS's timing of ownership in shares of Target Corp. and Merck & Co. Inc. hindered relative returns.

An overweight position in ConocoPhillips hindered performance versus the benchmark.

#### Great Lakes Advisors, LLC (Great Lakes)
The Great Lakes portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Against a volatile market backdrop, stock selection was strong in the technology, healthcare, and consumer services sectors relative to the benchmark.

The strongest-performing stocks over the reporting period were a diverse group and reflects Great Lakes's philosophy on maintaining a balanced portfolio with representation to virtually every major economic sector.

Notable contributors to performance in the Great Lakes portion of the Fund included Boston Scientific Corp., a producer of minimally invasive medical devices; Fox Corp., a media provider; Broadcom Inc., a semiconductor manufacturer with exposure to artificial intelligence (AI); RTX Corp., a diversified aerospace/defense contractor; and Duke Energy Corp., a regulated utility with operations primarily in the southeast of the US.

#### Top detractors from performance:
Sector allocation detracted from performance, as evidenced by Great Lakes's underweight positions in utilities and telecommunications. The reporting period was marked by extreme volatility that ultimately concluded in a broad rotation to defensive-oriented stocks, regardless of underlying operating fundamentals or relative valuation. An overweight position to healthcare stocks relative to the benchmark also proved to be a headwind to relative performance in the Great Lakes portion of the Fund.

Stock selection in the energy, manufacturing, and consumer discretionary sectors detracted from performance in the Great Lakes portion of the Fund, reflecting both stock-specific and macroeconomic issues.

Notable underperformers relative to the benchmark included Merck & Co. Inc., a global pharmaceutical company that was hurt by product issues in China, and Target Corp., a general merchandise company operating within a competitive retail space.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824591.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Value Fund (Class C) – including sales charge | 3.82% | 14.64% | 7.30% |
| Optimum Large Cap Value Fund (Class C) – excluding sales charge | 4.81% | 14.64% | 7.30% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Value Index | 7.18% | 16.15% | 8.79% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1840888315 |
| Total number of portfolio holdings | 124 |
| Total advisory fees paid | $11606072 |
| Portfolio turnover rate | 11% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 26.39% |
| Healthcare | 16.70% |
| Industrials | 15.35% |
| Information Technology | 7.29% |
| Energy | 7.15% |
| Consumer Staples | 6.27% |
| Utilities | 6.02% |
| Consumer Discretionary | 3.96% |
| Communication Services | 3.64% |
| Materials | 3.16% |
| Real Estate | 2.94% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| JPMorgan Chase & Co. | 4.12% |
| Progressive | 2.27% |
| Exxon Mobil | 2.25% |
| RTX | 2.12% |
| Abbott Laboratories | 1.89% |
| ConocoPhillips | 1.81% |
| Duke Energy | 1.80% |
| AbbVie | 1.75% |
| Lowe's | 1.74% |
| Johnson & Johnson | 1.70% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class C shares of 0.91% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Large Cap Value Fund

**Institutional Class : OILVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Large Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$95 | &nbsp;&nbsp;0.92% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 0.91% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Large Cap Value Fund (Institutional Class) returned 5.86% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 1000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.82%, while the Russell 1000<sup>®</sup> Value Index, the Fund's narrowly based securities market index, returned 7.18%.

#### Massachusetts Financial Services Company (MFS)
The MFS portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
On aggregate, sector allocation relative to the benchmark contributed to relative performance in the MFS portion of the Fund.

A combination of an overweight allocation and security selection within the financials sector further helped relative performance versus the benchmark.

Stock selection within the healthcare sector contributed to relative results.

An overweight allocation to the utilities sector was a contributor to relative performance in the MFS portion of the Fund.

Overweight holdings of The Progressive Corp., McKesson Corp., JPMorgan Chase & Co., and RTX Corp. contributed to performance. Not owning shares of Intel Corp. was also a contributor.

#### Top detractors from performance:
Position weightings (for example, security selection) detracted from relative results in the MFS portion of the Fund.

Stock selection within the consumer staples sector hurt performance relative to the benchmark.

Not owning shares of Berkshire Hathaway Inc. and Walmart Inc. detracted from performance in MFS's portion of the Fund. Additionally, MFS's timing of ownership in shares of Target Corp. and Merck & Co. Inc. hindered relative returns.

An overweight position in ConocoPhillips hindered performance versus the benchmark.

#### Great Lakes Advisors, LLC (Great Lakes)
The Great Lakes portion of the Fund underperformed the Russell 1000 Value Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Against a volatile market backdrop, stock selection was strong in the technology, healthcare, and consumer services sectors relative to the benchmark.

The strongest-performing stocks over the reporting period were a diverse group and reflects Great Lakes's philosophy on maintaining a balanced portfolio with representation to virtually every major economic sector.

Notable contributors to performance in the Great Lakes portion of the Fund included Boston Scientific Corp., a producer of minimally invasive medical devices; Fox Corp., a media provider; Broadcom Inc., a semiconductor manufacturer with exposure to artificial intelligence (AI); RTX Corp., a diversified aerospace/defense contractor; and Duke Energy Corp., a regulated utility with operations primarily in the southeast of the US.

#### Top detractors from performance:
Sector allocation detracted from performance, as evidenced by Great Lakes's underweight positions in utilities and telecommunications. The reporting period was marked by extreme volatility that ultimately concluded in a broad rotation to defensive-oriented stocks, regardless of underlying operating fundamentals or relative valuation. An overweight position to healthcare stocks relative to the benchmark also proved to be a headwind to relative performance in the Great Lakes portion of the Fund.

Stock selection in the energy, manufacturing, and consumer discretionary sectors detracted from performance in the Great Lakes portion of the Fund, reflecting both stock-specific and macroeconomic issues.

Notable underperformers relative to the benchmark included Merck & Co. Inc., a global pharmaceutical company that was hurt by product issues in China, and Target Corp., a general merchandise company operating within a competitive retail space.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824630.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Large Cap Value Fund (Institutional Class) – including sales charge | 5.86% | 15.80% | 8.38% |
| Optimum Large Cap Value Fund (Institutional Class) – excluding sales charge | 5.86% | 15.80% | 8.38% |
| Russell 1000 Index | 7.82% | 18.47% | 12.18% |
| Russell 1000 Value Index | 7.18% | 16.15% | 8.79% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 1000 Index. Although the Russell 1000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 1000 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $1840888315 |
| Total number of portfolio holdings | 124 |
| Total advisory fees paid | $11606072 |
| Portfolio turnover rate | 11% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 26.39% |
| Healthcare | 16.70% |
| Industrials | 15.35% |
| Information Technology | 7.29% |
| Energy | 7.15% |
| Consumer Staples | 6.27% |
| Utilities | 6.02% |
| Consumer Discretionary | 3.96% |
| Communication Services | 3.64% |
| Materials | 3.16% |
| Real Estate | 2.94% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| JPMorgan Chase & Co. | 4.12% |
| Progressive | 2.27% |
| Exxon Mobil | 2.25% |
| RTX | 2.12% |
| Abbott Laboratories | 1.89% |
| ConocoPhillips | 1.81% |
| Duke Energy | 1.80% |
| AbbVie | 1.75% |
| Lowe's | 1.74% |
| Johnson & Johnson | 1.70% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 0.91% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Growth Fund

**Class A : OASGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$144 | &nbsp;&nbsp;1.51% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.50% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Growth Fund (Class A) returned -9.44% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Growth Index, the Fund's narrowly based securities market index, returned -6.37%.

#### Principal Global Investors, LLC (Principal)
The Principal portion of the Fund slightly outperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Holdings in the consumer staples, real estate, and communications services sectors delivered double-digit positive nominal returns in the Principal portion of the Fund. These sectors were more insulated from tariff and trade disruption fears than their more cyclical counterparts.

Stock selection within the information technology (IT) sector contributed the most to relative performance relative to the benchmark, with Principal avoiding some of the hardest hit companies in that sector.

Modest holdings of cash equivalents – which averaged approximately 2.4% of the Principal portion of the Fund – also helped performance relative to the benchmark, as did an overweight allocation to the financial services sector.

#### Top detractors from performance:
Small- and mid-capitalization stocks declined during the reporting period in the Principal portion of the Fund. This is in contrast to positive returns among their larger-cap counterparts.

High growth stocks materially lagged their value counterparts. Holdings in the IT, consumer discretionary, industrials, energy, and healthcare sectors all posted negative total returns in the Principal portion of the Fund, as these areas of the market were hardest hit by tariff and trade uncertainty in the final months of the reporting period.

Stock selection within the healthcare sector was especially challenging in the Principal portion of the Fund and therefore was the largest detractor from relative performance versus the benchmark.

#### Peregrine Capital Management, LLC (PCM)
The PCM portion of the Fund underperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Stock selection in the financial sector contributed to performance in the PCM portion of the Fund, with notable strong performance in insurance driven by strength in insurance brokers The Baldwin Insurance Group Inc. and Ryan Specialty Holdings Inc., as well as underwriters such as Skyward Specialty Insurance Group Inc., Palomar Holdings Inc., and Bowhead Specialty Holdings Inc. Capital markets holdings also contributed to performance in the PCM portion of the Fund.

Stock selection in the technology sector contributed to performance, especially among communication equipment companies Ciena Corp. and Lumentum Holdings Inc. Electronic equipment holdings such as PAR Technology Corp. also helped performance relative to the benchmark.

#### Top detractors from performance:
Adverse stock selection in the industrials sector, particularly within distribution, professional services, and construction industry groups, detracted from performance in the PCM portion of the Fund. Notable detractors included specialty consultant firm ICF International Inc., building products distributor Boise Cascade Co., and electrical contractor MYR Group Inc.

Relative underperformance in the healthcare sector was largely due to an overweight position in life sciences and tools which underperformed during the reporting period.

Weak stock selection in the consumer staples sector, primarily driven by food product holdings Lamb Weston Holdings Inc. and SunOpta Inc. detracted from performance in the PCM portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824669.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Growth Fund (Class A) – including sales charge | -14.64% | 11.39% | 6.76% |
| Optimum Small-Mid Cap Growth Fund (Class A) – excluding sales charge | -9.44% | 12.71% | 7.39% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Growth Index | -6.37% | 11.37% | 7.44% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $648871450 |
| Total number of portfolio holdings | 189 |
| Total advisory fees paid | $6871218 |
| Portfolio turnover rate | 131% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 20.95% |
| Industrials | 20.32% |
| Healthcare | 18.57% |
| Financials | 14.93% |
| Consumer Discretionary | 10.26% |
| Consumer Staples | 3.87% |
| Energy | 3.63% |
| Communication Services | 2.07% |
| Materials | 1.69% |
| Real Estate | 1.31% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Gulfport Energy | 1.63% |
| TKO Group Holdings | 1.61% |
| BJ's Wholesale Club Holdings | 1.59% |
| W R Berkley | 1.44% |
| Insmed | 1.36% |
| Knight-Swift Transportation Holdings | 1.28% |
| Guardant Health | 1.24% |
| Robinhood Markets Class A | 1.22% |
| Trimble | 1.22% |
| Twilio Class A | 1.19% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class A shares of 1.24% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Growth Fund

**Class C : OCSGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$215 | &nbsp;&nbsp;2.26% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 2.25% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Growth Fund (Class C) returned -10.13% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Growth Index, the Fund's narrowly based securities market index, returned -6.37%.

#### Principal Global Investors, LLC (Principal)
The Principal portion of the Fund slightly outperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Holdings in the consumer staples, real estate, and communications services sectors delivered double-digit positive nominal returns in the Principal portion of the Fund. These sectors were more insulated from tariff and trade disruption fears than their more cyclical counterparts.

Stock selection within the information technology (IT) sector contributed the most to relative performance relative to the benchmark, with Principal avoiding some of the hardest hit companies in that sector.

Modest holdings of cash equivalents – which averaged approximately 2.4% of the Principal portion of the Fund – also helped performance relative to the benchmark, as did an overweight allocation to the financial services sector.

#### Top detractors from performance:
Small- and mid-capitalization stocks declined during the reporting period in the Principal portion of the Fund. This is in contrast to positive returns among their larger-cap counterparts.

High growth stocks materially lagged their value counterparts. Holdings in the IT, consumer discretionary, industrials, energy, and healthcare sectors all posted negative total returns in the Principal portion of the Fund, as these areas of the market were hardest hit by tariff and trade uncertainty in the final months of the reporting period.

Stock selection within the healthcare sector was especially challenging in the Principal portion of the Fund and therefore was the largest detractor from relative performance versus the benchmark.

#### Peregrine Capital Management, LLC (PCM)
The PCM portion of the Fund underperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Stock selection in the financial sector contributed to performance in the PCM portion of the Fund, with notable strong performance in insurance driven by strength in insurance brokers The Baldwin Insurance Group Inc. and Ryan Specialty Holdings Inc., as well as underwriters such as Skyward Specialty Insurance Group Inc., Palomar Holdings Inc., and Bowhead Specialty Holdings Inc. Capital markets holdings also contributed to performance in the PCM portion of the Fund.

Stock selection in the technology sector contributed to performance, especially among communication equipment companies Ciena Corp. and Lumentum Holdings Inc. Electronic equipment holdings such as PAR Technology Corp. also helped performance relative to the benchmark.

#### Top detractors from performance:
Adverse stock selection in the industrials sector, particularly within distribution, professional services, and construction industry groups, detracted from performance in the PCM portion of the Fund. Notable detractors included specialty consultant firm ICF International Inc., building products distributor Boise Cascade Co., and electrical contractor MYR Group Inc.

Relative underperformance in the healthcare sector was largely due to an overweight position in life sciences and tools which underperformed during the reporting period.

Weak stock selection in the consumer staples sector, primarily driven by food product holdings Lamb Weston Holdings Inc. and SunOpta Inc. detracted from performance in the PCM portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824708.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Growth Fund (Class C) – including sales charge | -11.03% | 11.88% | 6.59% |
| Optimum Small-Mid Cap Growth Fund (Class C) – excluding sales charge | -10.13% | 11.88% | 6.59% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Growth Index | -6.37% | 11.37% | 7.44% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $648871450 |
| Total number of portfolio holdings | 189 |
| Total advisory fees paid | $6871218 |
| Portfolio turnover rate | 131% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 20.95% |
| Industrials | 20.32% |
| Healthcare | 18.57% |
| Financials | 14.93% |
| Consumer Discretionary | 10.26% |
| Consumer Staples | 3.87% |
| Energy | 3.63% |
| Communication Services | 2.07% |
| Materials | 1.69% |
| Real Estate | 1.31% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Gulfport Energy | 1.63% |
| TKO Group Holdings | 1.61% |
| BJ's Wholesale Club Holdings | 1.59% |
| W R Berkley | 1.44% |
| Insmed | 1.36% |
| Knight-Swift Transportation Holdings | 1.28% |
| Guardant Health | 1.24% |
| Robinhood Markets Class A | 1.22% |
| Trimble | 1.22% |
| Twilio Class A | 1.19% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class C shares of 1.24% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Growth Fund

**Institutional Class : OISGX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Growth Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$120 | &nbsp;&nbsp;1.26% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.25% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Growth Fund (Institutional Class) returned -9.28% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Growth Index, the Fund's narrowly based securities market index, returned -6.37%.

#### Principal Global Investors, LLC (Principal)
The Principal portion of the Fund slightly outperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Holdings in the consumer staples, real estate, and communications services sectors delivered double-digit positive nominal returns in the Principal portion of the Fund. These sectors were more insulated from tariff and trade disruption fears than their more cyclical counterparts.

Stock selection within the information technology (IT) sector contributed the most to relative performance relative to the benchmark, with Principal avoiding some of the hardest hit companies in that sector.

Modest holdings of cash equivalents – which averaged approximately 2.4% of the Principal portion of the Fund – also helped performance relative to the benchmark, as did an overweight allocation to the financial services sector.

#### Top detractors from performance:
Small- and mid-capitalization stocks declined during the reporting period in the Principal portion of the Fund. This is in contrast to positive returns among their larger-cap counterparts.

High growth stocks materially lagged their value counterparts. Holdings in the IT, consumer discretionary, industrials, energy, and healthcare sectors all posted negative total returns in the Principal portion of the Fund, as these areas of the market were hardest hit by tariff and trade uncertainty in the final months of the reporting period.

Stock selection within the healthcare sector was especially challenging in the Principal portion of the Fund and therefore was the largest detractor from relative performance versus the benchmark.

#### Peregrine Capital Management, LLC (PCM)
The PCM portion of the Fund underperformed the Russell 2500 Growth Index, the narrowly based securities market index (benchmark), during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
Stock selection in the financial sector contributed to performance in the PCM portion of the Fund, with notable strong performance in insurance driven by strength in insurance brokers The Baldwin Insurance Group Inc. and Ryan Specialty Holdings Inc., as well as underwriters such as Skyward Specialty Insurance Group Inc., Palomar Holdings Inc., and Bowhead Specialty Holdings Inc. Capital markets holdings also contributed to performance in the PCM portion of the Fund.

Stock selection in the technology sector contributed to performance, especially among communication equipment companies Ciena Corp. and Lumentum Holdings Inc. Electronic equipment holdings such as PAR Technology Corp. also helped performance relative to the benchmark.

#### Top detractors from performance:
Adverse stock selection in the industrials sector, particularly within distribution, professional services, and construction industry groups, detracted from performance in the PCM portion of the Fund. Notable detractors included specialty consultant firm ICF International Inc., building products distributor Boise Cascade Co., and electrical contractor MYR Group Inc.

Relative underperformance in the healthcare sector was largely due to an overweight position in life sciences and tools which underperformed during the reporting period.

Weak stock selection in the consumer staples sector, primarily driven by food product holdings Lamb Weston Holdings Inc. and SunOpta Inc. detracted from performance in the PCM portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824747.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Growth Fund (Institutional Class) – including sales charge | -9.28% | 12.99% | 7.66% |
| Optimum Small-Mid Cap Growth Fund (Institutional Class) – excluding sales charge | -9.28% | 12.99% | 7.66% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Growth Index | -6.37% | 11.37% | 7.44% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Growth Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $648871450 |
| Total number of portfolio holdings | 189 |
| Total advisory fees paid | $6871218 |
| Portfolio turnover rate | 131% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Information Technology | 20.95% |
| Industrials | 20.32% |
| Healthcare | 18.57% |
| Financials | 14.93% |
| Consumer Discretionary | 10.26% |
| Consumer Staples | 3.87% |
| Energy | 3.63% |
| Communication Services | 2.07% |
| Materials | 1.69% |
| Real Estate | 1.31% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Gulfport Energy | 1.63% |
| TKO Group Holdings | 1.61% |
| BJ's Wholesale Club Holdings | 1.59% |
| W R Berkley | 1.44% |
| Insmed | 1.36% |
| Knight-Swift Transportation Holdings | 1.28% |
| Guardant Health | 1.24% |
| Robinhood Markets Class A | 1.22% |
| Trimble | 1.22% |
| Twilio Class A | 1.19% |

---

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 1.24% (excluding certain items, such as distribution and service (12b-1) fees).

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Value Fund

**Class A : OASVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$138 | &nbsp;&nbsp;1.41% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.40% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Value Fund (Class A) returned -3.89% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Value Index, the Fund's narrowly based securities market index, returned -1.47%.

#### Significant Fund event
Effective June 12, 2024, Wellington Management Company LLP (Wellington) replaced Cardinal Capital Management LLC (Cardinal) as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV Asset Management (LSV), the Fund's other sub-advisor.

#### LSV Asset Management (LSV)
The LSV portion of the Fund underperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark) during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
The deeper value positioning of the LSV portion of the Fund relative to the benchmark contributed to performance as value stocks outperformed growth stocks over the reporting period.

Stock selection was strong within the healthcare sector relative to the benchmark and contributed to performance.

The top two contributors to performance were Vistra Corp., a utility company that benefited from the rising demand for artificial intelligence (AI) data centers, and CNO Financial Group Inc., which had strong financial results over the reporting period.

Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the financials sector contributed to performance.

#### Top detractors from performance:
Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the consumer discretionary sector detracted from performance.

Stock selection was particularly weak in the consumer discretionary sector. Stocks in this sector underperformed the overall market despite the attractive valuations of the companies owned in the LSV portion of the Fund. Two of the largest detractors in the sector were Bloomin' Brands Inc., a restaurant holding company, and PVH Corp., which markets a wide range of apparel including Calvin Klein and Tommy Hilfiger.

Stock selection was also weak in the industrials sector as many of the stocks owned in the LSV portion of the Fund declined more than the overall market during the first quarter of 2025, following the announcement about tariffs. Atkore Inc. – an electrical products and industrial materials company that can be sensitive to economic cycles – was the largest detractor in the LSV portion of the Fund. ArcBest Corp., which provides a suite of transportation and logistics services across North America, also detracted from performance.

#### Wellington Management Company LLP (Wellington)
The Wellington portion of the Fund outperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark), during the period it managed the Fund (June 12, 2024, to March 31, 2025; on a gross of fees basis).

#### Top contributors to performance:
Positions in NiSource Inc. and TPG Inc. contributed the most to relative performance in the Wellington portion of the Fund.

An overweight allocation to the financials sector was a top contributor to performance relative to the benchmark.

Security selection within energy and real estate also contributed to relative performance for the period that Wellington managed its portion of the Fund.

#### Top detractors from performance:
Positions in FMC Corp. and Gentex Corp. were the primary detractors from relative performance for the Wellington portion of the Fund.

An overweight allocation to materials was a top detractor from performance relative to the benchmark.

Security selection within materials and healthcare also detracted from relative performance for the period that Wellington managed its portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824786.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Value Fund (Class A) – including sales charge | -9.42% | 13.24% | 3.43% |
| Optimum Small-Mid Cap Value Fund (Class A) – excluding sales charge | -3.89% | 14.59% | 4.04% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Value Index | -1.47% | 16.65% | 6.84% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $635309082 |
| Total number of portfolio holdings | 241 |
| Total advisory fees paid | $5404935 |
| Portfolio turnover rate | 117% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 27.17% |
| Industrials | 16.66% |
| Consumer Discretionary | 11.13% |
| Healthcare | 8.16% |
| Information Technology | 7.93% |
| Real Estate | 7.31% |
| Energy | 5.10% |
| Materials | 4.74% |
| Consumer Staples | 4.05% |
| Utilities | 3.06% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Willis Towers Watson | 1.71% |
| Brixmor Property Group | 1.69% |
| Camden Property Trust | 1.69% |
| NiSource | 1.68% |
| Kemper | 1.68% |
| Reliance | 1.52% |
| Boise Cascade | 1.46% |
| SouthState | 1.41% |
| Dick's Sporting Goods | 1.38% |
| EQT | 1.37% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class A shares of 1.14% (excluding certain items, such as distribution and service (12b-1) fees).

As noted above, effective June 12, 2024, Wellington replaced Cardinal as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV, the Fund's other sub-advisor.

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Value Fund

**Class C : OCSVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$211 | &nbsp;&nbsp;2.16% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 2.15% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Value Fund (Class C) returned -4.57% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Value Index, the Fund's narrowly based securities market index, returned -1.47%.

#### Significant Fund event
Effective June 12, 2024, Wellington Management Company LLP (Wellington) replaced Cardinal Capital Management LLC (Cardinal) as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV Asset Management (LSV), the Fund's other sub-advisor.

#### LSV Asset Management (LSV)
The LSV portion of the Fund underperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark) during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
The deeper value positioning of the LSV portion of the Fund relative to the benchmark contributed to performance as value stocks outperformed growth stocks over the reporting period.

Stock selection was strong within the healthcare sector relative to the benchmark and contributed to performance.

The top two contributors to performance were Vistra Corp., a utility company that benefited from the rising demand for artificial intelligence (AI) data centers, and CNO Financial Group Inc., which had strong financial results over the reporting period.

Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the financials sector contributed to performance.

#### Top detractors from performance:
Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the consumer discretionary sector detracted from performance.

Stock selection was particularly weak in the consumer discretionary sector. Stocks in this sector underperformed the overall market despite the attractive valuations of the companies owned in the LSV portion of the Fund. Two of the largest detractors in the sector were Bloomin' Brands Inc., a restaurant holding company, and PVH Corp., which markets a wide range of apparel including Calvin Klein and Tommy Hilfiger.

Stock selection was also weak in the industrials sector as many of the stocks owned in the LSV portion of the Fund declined more than the overall market during the first quarter of 2025, following the announcement about tariffs. Atkore Inc. – an electrical products and industrial materials company that can be sensitive to economic cycles – was the largest detractor in the LSV portion of the Fund. ArcBest Corp., which provides a suite of transportation and logistics services across North America, also detracted from performance.

#### Wellington Management Company LLP (Wellington)
The Wellington portion of the Fund outperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark), during the period it managed the Fund (June 12, 2024, to March 31, 2025; on a gross of fees basis).

#### Top contributors to performance:
Positions in NiSource Inc. and TPG Inc. contributed the most to relative performance in the Wellington portion of the Fund.

An overweight allocation to the financials sector was a top contributor to performance relative to the benchmark.

Security selection within energy and real estate also contributed to relative performance for the period that Wellington managed its portion of the Fund.

#### Top detractors from performance:
Positions in FMC Corp. and Gentex Corp. were the primary detractors from relative performance for the Wellington portion of the Fund.

An overweight allocation to materials was a top detractor from performance relative to the benchmark.

Security selection within materials and healthcare also detracted from relative performance for the period that Wellington managed its portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824825.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Value Fund (Class C) – including sales charge | -5.43% | 13.72% | 3.26% |
| Optimum Small-Mid Cap Value Fund (Class C) – excluding sales charge | -4.57% | 13.72% | 3.26% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Value Index | -1.47% | 16.65% | 6.84% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $635309082 |
| Total number of portfolio holdings | 241 |
| Total advisory fees paid | $5404935 |
| Portfolio turnover rate | 117% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 27.17% |
| Industrials | 16.66% |
| Consumer Discretionary | 11.13% |
| Healthcare | 8.16% |
| Information Technology | 7.93% |
| Real Estate | 7.31% |
| Energy | 5.10% |
| Materials | 4.74% |
| Consumer Staples | 4.05% |
| Utilities | 3.06% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Willis Towers Watson | 1.71% |
| Brixmor Property Group | 1.69% |
| Camden Property Trust | 1.69% |
| NiSource | 1.68% |
| Kemper | 1.68% |
| Reliance | 1.52% |
| Boise Cascade | 1.46% |
| SouthState | 1.41% |
| Dick's Sporting Goods | 1.38% |
| EQT | 1.37% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Class C shares of 1.14% (excluding certain items, such as distribution and service (12b-1) fees).

As noted above, effective June 12, 2024, Wellington replaced Cardinal as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV, the Fund's other sub-advisor.

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4447791) ![Macquarie Logo](g906425images_27603.jpg)

Optimum Small-Mid Cap Value Fund

**Institutional Class : OISVX**

#### Annual shareholder report \| March 31, 2025
This annual shareholder report contains important information about Optimum Small-Mid Cap Value Fund (Fund) for the period of April 1, 2024, to March 31, 2025. You can find additional information about the Fund at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund's costs for the last 12 months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Class | &nbsp;&nbsp;Costs of a $10,000 investment | &nbsp;&nbsp;Costs paid as a percentage of a $10,000 investment<sup>1</sup> |
| &nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;$114 | &nbsp;&nbsp;1.16% |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup><sup>1</sup></sup> | Costs paid as a percentage of a $10,000 investment would have been 1.15% if non-recurring expenses were not included. |

---

Management's discussion of Fund performance

#### Performance highlights
Optimum Small-Mid Cap Value Fund (Institutional Class) returned -3.62% (excluding sales charge) for the 12 months ended March 31, 2025. During the same period, the Russell 3000<sup>®</sup> Index, the Fund's broad-based securities market index, returned 7.22%, while the Russell 2500™ Value Index, the Fund's narrowly based securities market index, returned -1.47%.

#### Significant Fund event
Effective June 12, 2024, Wellington Management Company LLP (Wellington) replaced Cardinal Capital Management LLC (Cardinal) as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV Asset Management (LSV), the Fund's other sub-advisor.

#### LSV Asset Management (LSV)
The LSV portion of the Fund underperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark) during the reporting period (on a gross of fees basis).

#### Top contributors to performance:
The deeper value positioning of the LSV portion of the Fund relative to the benchmark contributed to performance as value stocks outperformed growth stocks over the reporting period.

Stock selection was strong within the healthcare sector relative to the benchmark and contributed to performance.

The top two contributors to performance were Vistra Corp., a utility company that benefited from the rising demand for artificial intelligence (AI) data centers, and CNO Financial Group Inc., which had strong financial results over the reporting period.

Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the financials sector contributed to performance.

#### Top detractors from performance:
Sector allocations, which are controlled at +/- 5% relative to the benchmark for the LSV portion of the Fund, had a neutral impact overall; however, an overweight to the consumer discretionary sector detracted from performance.

Stock selection was particularly weak in the consumer discretionary sector. Stocks in this sector underperformed the overall market despite the attractive valuations of the companies owned in the LSV portion of the Fund. Two of the largest detractors in the sector were Bloomin' Brands Inc., a restaurant holding company, and PVH Corp., which markets a wide range of apparel including Calvin Klein and Tommy Hilfiger.

Stock selection was also weak in the industrials sector as many of the stocks owned in the LSV portion of the Fund declined more than the overall market during the first quarter of 2025, following the announcement about tariffs. Atkore Inc. – an electrical products and industrial materials company that can be sensitive to economic cycles – was the largest detractor in the LSV portion of the Fund. ArcBest Corp., which provides a suite of transportation and logistics services across North America, also detracted from performance.

#### Wellington Management Company LLP (Wellington)
The Wellington portion of the Fund outperformed the Russell 2500 Value Index, the Fund's narrowly based securities market index (benchmark), during the period it managed the Fund (June 12, 2024, to March 31, 2025; on a gross of fees basis).

#### Top contributors to performance:
Positions in NiSource Inc. and TPG Inc. contributed the most to relative performance in the Wellington portion of the Fund.

An overweight allocation to the financials sector was a top contributor to performance relative to the benchmark.

Security selection within energy and real estate also contributed to relative performance for the period that Wellington managed its portion of the Fund.

#### Top detractors from performance:
Positions in FMC Corp. and Gentex Corp. were the primary detractors from relative performance for the Wellington portion of the Fund.

An overweight allocation to materials was a top detractor from performance relative to the benchmark.

Security selection within materials and healthcare also detracted from relative performance for the period that Wellington managed its portion of the Fund.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell<sup>®</sup> is a trademark of Frank Russell Company.

#### Fund performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a broad-based securities market index and an additional narrowly based securities market index for the same period.

#### Growth of $10,000 investment
For the period March 31, 2015, through March 31, 2025

![Fund Performance - Growth of 10K](g906425chartimages_9824864.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** (**as of March 31, 2025**) | **1 year** | **5 year** | **10 year** |
| Optimum Small-Mid Cap Value Fund (Institutional Class) – including sales charge | -3.62% | 14.88% | 4.31% |
| Optimum Small-Mid Cap Value Fund (Institutional Class) – excluding sales charge | -3.62% | 14.88% | 4.31% |
| Russell 3000 Index | 7.22% | 18.18% | 11.80% |
| Russell 2500 Value Index | -1.47% | 16.65% | 6.84% |

---

**Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.**

Visit optimummutualfunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

In connection with new regulatory requirements, effective July 31, 2024, the Fund changed its broad-based securities market benchmark index to the Russell 3000 Index. Although the Russell 3000 Index can be considered broadly representative of the overall securities market applicable to the Fund, the Fund will continue to show the performance of the Russell 2500 Value Index for comparative purposes because Delaware Management Company, the Fund's manager, believes it is more representative of the Fund's investment universe.

**Fund statistics** (as of March 31, 2025)

---

| | |
|:---|:---|
| Fund net assets | $635309082 |
| Total number of portfolio holdings | 241 |
| Total advisory fees paid | $5404935 |
| Portfolio turnover rate | 117% |

---

**Fund holdings** (as of March 31, 2025)

The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

---

| | |
|:---|:---|
| Financials | 27.17% |
| Industrials | 16.66% |
| Consumer Discretionary | 11.13% |
| Healthcare | 8.16% |
| Information Technology | 7.93% |
| Real Estate | 7.31% |
| Energy | 5.10% |
| Materials | 4.74% |
| Consumer Staples | 4.05% |
| Utilities | 3.06% |

---

Top 10 equity holdings

---

| | |
|:---|:---|
| Willis Towers Watson | 1.71% |
| Brixmor Property Group | 1.69% |
| Camden Property Trust | 1.69% |
| NiSource | 1.68% |
| Kemper | 1.68% |
| Reliance | 1.52% |
| Boise Cascade | 1.46% |
| SouthState | 1.41% |
| Dick's Sporting Goods | 1.38% |
| EQT | 1.37% |

---

Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

Material Fund changes

Effective July 31, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 1.14% (excluding certain items, such as distribution and service (12b-1) fees).

As noted above, effective June 12, 2024, Wellington replaced Cardinal as one of the Fund's sub-advisors. Wellington will manage the Fund along with LSV, the Fund's other sub-advisor.

This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by July 31, 2025, at optimummutualfunds.com/literature or upon request at 800 914-0278, weekdays from 8:30am to 6:00pm ET.

#### Availability of additional information
You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at optimummutualfunds.com/literature. You can also request this information by contacting us at 800 914-0278, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

#### Householding
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 914-0278 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

![TSR - QR Code - Optimum](g906425images_27606.jpg)

For more information, please scan the QR code at left to navigate to additional hosted material at optimummutualfunds.com/literature.

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

(4447791) TSAR-OAFIX-0525

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

#### Item 2. Code of Ethics.
(a) The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. A copy of the registrant's Code of Business Ethics has been posted on the Optimum Mutual Funds' Internet Web site at <u>www.optimummutualfunds.com</u>. Any amendments to the Code of Business Ethics, and information on any waiver from its provisions granted by the registrant, will also be posted on this Web site within five business days of such amendment or waiver and will remain on the Web site for at least 12 months.

#### Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that certain members of the registrant's Audit Committee are audit committee financial experts, as defined below. For purposes of this item, an "audit committee financial expert" is a person who has the following attributes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. An understanding of generally accepted accounting principles and financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The ability to assess the general application of such principles in connection with the accounting for estimates, accruals, and reserves;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Experience preparing, auditing, analyzing, or evaluating financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of issues that can reasonably be expected to be raised by the registrant's financial statements, or experience actively supervising one or more persons engaged in such activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. An understanding of internal controls and procedures for financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. An understanding of audit committee functions.

An "audit committee financial expert" shall have acquired such attributes through:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Education and experience as a principal financial officer, principal accounting officer, controller, public accountant, or auditor or experience in one or more positions that involve the performance of similar functions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Experience actively supervising a principal financial officer, principal accounting officer, controller, public accountant, auditor, or person performing similar functions;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Experience overseeing or assessing the performance of companies or public accountants with respect to the preparation, auditing, or evaluation of financial statements; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Other relevant experience.

The registrant's Board of Trustees has also determined that each member of the registrant's Audit Committee is independent. In order to be "independent" for purposes of this item, the Audit Committee member may not, other than in his or her capacity as a member of the Board of Trustees or any committee thereof, (i) accept directly or indirectly any consulting, advisory or other compensatory fee from the issuer; or (ii) be an "interested person" of the registrant as defined in Section 2(a)(19) of the Investment Company Act of 1940.

The names of the audit committee financial experts on the registrant's Audit Committee are set forth below:

Dianna Gonzales-Burdin

Susan M. Stalnecker, Chair

#### Item 4. Principal Accountant Fees and Services.
<u>Audit Fees</u> 

(a) 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 are $186,000 for 2025 and $179,007 for 2024.

<u>Audit-Related Fees</u> 

(b) 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 are $1,374,878 for 2025 and $1,362,878 for 2024. These audit-related services were as follows: year end audit procedures; group reporting and subsidiary statutory audits.

<u>Tax Fees</u> 

(c) 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 are $31,853 for 2025 and $32,810 for 2024. These tax-related services were as follows: review of income tax returns and review of annual excise distribution calculations.

<u>All Other Fees</u> 

(d) 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 are $0 for 2025 and $0 for 2024.

---

| | |
|:---|:---|
| (e)(1) | The registrant's Audit Committee has established pre-approval policies and procedures as permitted by Rule 2-01(c)(7)(i)(B) of Regulation S-X (the "Pre-Approval Policy") with respect to services provided by the registrant's independent auditors. Pursuant to the Pre-Approval Policy, the Audit Committee has pre-approved the services set forth in the table below with respect to the registrant up to the specified fee limits.  |

---

------

---

| | |
|:---|:---|
| **Service** | **Range of Fees** |
| **Audit Services** |  |
| Statutory audits or financial audits for new Funds | up to $50,000 per Fund |
| Services associated with SEC registration statements (e.g., Form N-1A, Form N-14, etc.), periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., comfort letters for closed-end Fund offerings, consents), and assistance in responding to SEC comment letters | up to $10,000 per Fund |
| Consultations by Fund management as to the accounting or disclosure treatment of transactions or events and/or the actual or potential impact of final or proposed rules, standards or interpretations by the SEC, FASB, or other regulatory or standard-setting bodies (Note: Under SEC rules, some consultations may be considered "audit-related services" rather than "audit services") | up to $25,000 in the aggregate |
| **Audit-Related Services** |  |
| Consultations by Fund management as to the accounting or disclosure treatment of transactions or events and /or the actual or potential impact of final or proposed rules, standards or interpretations by the SEC, FASB, or other regulatory or standard-setting bodies (Note: Under SEC rules, some consultations may be considered "audit services" rather than "audit-related services") | up to $25,000 in the aggregate |
| **Tax Services** |  |
| U.S. federal, state and local and international tax planning and advice (e.g., consulting on statutory, regulatory or administrative developments, evaluation of Funds' tax compliance function, etc.) | up to $25,000 in the aggregate |
| U.S. federal, state and local tax compliance (e.g., excise distribution reviews, etc.) | up to $5,000 per Fund |
| Review of federal, state, local and international income, franchise and other tax returns | up to $5,000 per Fund |

---

Fs

Under the Pre-Approval Policy, the Audit Committee has also pre-approved the services set forth in the table below with respect to the registrant's investment adviser and other entities controlling, controlled by or under common control with the investment adviser that provide ongoing services to the registrant (the "Control Affiliates") up to the specified fee limit. This fee limit is based on aggregate fees to the investment adviser and its Control Affiliates.

---

| | |
|:---|:---|
| **Service** | **Range of Fees** |
| **Non-Audit Services** |  |
| Services associated with periodic reports and other documents filed with the SEC and assistance in responding to SEC comment letters | up to $10,000 in the aggregate |

---

The Pre-Approval Policy requires the registrant's independent auditors to report to the Audit Committee at each of its regular meetings regarding all services initiated since the last such report was rendered, including those services authorized by the Pre-Approval Policy.

------

---

| | |
|:---|:---|
| (e)(2) | The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X are as follows:  |

---

&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;(b) 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;(c) 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;(d) 0%

(f) Not applicable.

(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 was $16,391,075 for 2025 and $24,428,000 for 2024.

(h) The audit committee of the registrant's board of trustees **has** considered whether the provision of non-audit services that were 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 investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

#### Item 5. Audit Committee of Listed Registrants.
Not applicable.

#### Item 6. Investments.
(a) Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the Financial Statements filed under Item 7 of this form.

(b) Not applicable.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
(a) An open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must file its most recent annual or semi-annual financial statements required, and for the periods specified, by Regulation S-X.

The annual financial statements are attached herewith.

(b) An open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must file the information required by Item 13 of Form N-1A.

------

![](g906425img53077dfc1.gif)

Optimum Fixed Income Fund

Optimum International Fund

Optimum Large Cap Growth Fund

Optimum Large Cap Value Fund

Optimum Small-Mid Cap Growth Fund

Optimum Small-Mid Cap Value Fund

Financial statements and other information

For the year ended March 31, 2025

------

## Table of contents

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;[Schedules of investments](#xx_15ea7371-f81f-45d2-b9ed-24abdfc95f76_1)<br>| &nbsp;&nbsp;&nbsp;**1** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Statements of assets and liabilities](#xx_33ff547a-ea06-4b4b-8986-5c04c388fde6_1)<br>| &nbsp;&nbsp;&nbsp;**70** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Statements of operations](#xx_33ff547a-ea06-4b4b-8986-5c04c388fde6_4)<br>| &nbsp;&nbsp;&nbsp;**73** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Statements of changes in net assets](#xx_33ff547a-ea06-4b4b-8986-5c04c388fde6_6)<br>| &nbsp;&nbsp;&nbsp;**75** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Financial highlights](#xx_2ba1bfd5-ba59-466c-b0e8-c946980c7752_1)<br>| &nbsp;&nbsp;&nbsp;**78** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Notes to financial statements](#xx_b4cc184e-875f-4381-9afc-fd2923e13ce7_1)<br>| &nbsp;&nbsp;&nbsp;**96** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Report of independent registered public accounting firm](#xx_67458b90-e37d-494d-847d-b403605a7397_1)<br>| &nbsp;&nbsp;&nbsp;**125** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Other Fund information](#xx_aa784ce2-f29a-4bef-983d-47cda7f5a4fa_1)<br>| &nbsp;&nbsp;&nbsp;**126** |

---

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

#### Form N-PORT and proxy voting information
Each Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT. Each Fund's Form N-PORT, as well as a description of the policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities, are available without charge (i) upon request, by calling 800 914-0278; and (ii) on the SEC's website at sec.gov. In addition, a description of the policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities and the Schedule of Investments included in the Funds' most recent Form N-PORT are available without charge on the Funds' website at optimummutualfunds.com/literature.

Information (if any) regarding how the Funds voted proxies relating to portfolio securities during the most recently disclosed 12-month period ended June 30 is available without charge (i) through the Funds' website at optimummutualfunds.com/shareholder/proxy-voting-information; and (ii) on the SEC's website at sec.gov.

**Other than Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie Bank"), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if thisdocument relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.**

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Schedules of investments
Optimum Fixed Income Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.04%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.04%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.04%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1999-T2 A1 7.50% 1/19/39 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161 | $2157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-T1 1A2 6.50% 1/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946 | &nbsp;&nbsp; 1994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-W11 1A2 6.50% 5/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16534 | &nbsp;&nbsp; 16908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-W15 1A1 6.00% 8/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10356 | &nbsp;&nbsp; 10620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMICs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1999-19 PH 6.00% 5/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10603 | &nbsp;&nbsp; 10732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2001-14 Z 6.00% 5/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp; 750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-30 OE 1.784% 4/25/37 Ω, ^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920433 | &nbsp;&nbsp; 740170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-24 ZA 5.00% 4/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;2878564 | &nbsp;&nbsp; 2926050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-2 AS 1.246% (5.59% minus SOFR, Cap 5.70%) 2/25/39 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183703 | &nbsp;&nbsp; 10934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-68 SA 2.296% (6.64% minus SOFR, Cap 6.75%) 9/25/39 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69339 | &nbsp;&nbsp; 5933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-40 GZ 3.50% 5/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370268 | &nbsp;&nbsp; 339876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-95 FA 4.793% (SOFR + 0.46%, Floor 0.35%) 11/25/47 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142863 | &nbsp;&nbsp; 140789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-38 FA 5.129% (SOFR + 0.80%, Floor 0.80%) 1/25/51 • | &nbsp;&nbsp;&nbsp;&nbsp;1613567 | &nbsp;&nbsp; 1612960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac REMICs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2165 PE 6.00% 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11770 | &nbsp;&nbsp; 11936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3143 BC 5.50% 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490333 | &nbsp;&nbsp; 510154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3289 SA 2.287% (6.64% minus SOFR, Cap 6.75%) 3/15/37 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124855 | &nbsp;&nbsp; 9161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4676 KZ 2.50% 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310506 | &nbsp;&nbsp; 270898 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac Structured<br> Agency Credit Risk REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA5 M2 144A 5.99% (SOFR + 1.65%) 1/25/34 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1356358 | $1358908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-HQA2 M2 144A 6.39% (SOFR + 2.05%) 12/25/33 #, • | &nbsp;&nbsp;&nbsp;&nbsp;4269332 | &nbsp;&nbsp; 4343756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA1 M2 144A 6.84% (SOFR + 2.50%) 1/25/42 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 3031704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA2 M2 144A 8.09% (SOFR + 3.75%) 2/25/42 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1033464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac Structured<br> Pass Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series T-54 2A 6.50% 2/25/43 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8405 | &nbsp;&nbsp; 8497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series T-58 2A 6.50% 9/25/43 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590 | &nbsp;&nbsp; 2627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-65 SB 1.566% (5.89% minus TSFR01M, Cap 6.00%) 8/20/38 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179971 | &nbsp;&nbsp; 1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-2 SE 1.386% (5.71% minus TSFR01M, Cap 5.82%) 1/20/39 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612911 | &nbsp;&nbsp; 15146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-H21 FT 4.89% (H15T1Y + 0.70%, Cap 15.25%, Floor 0.70%) 10/20/61 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493261 | &nbsp;&nbsp; 491599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-H23 FA 5.123% (TSFR01M + 0.81%, Cap 11.00%, Floor 0.70%) 10/20/61 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646955 | &nbsp;&nbsp; 647831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-H08 FB 5.023% (TSFR01M + 0.71%, Cap 11.00%, Floor 0.60%) 3/20/62 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69494 | &nbsp;&nbsp; 69509 |

---

&nbsp;&nbsp;&nbsp;&nbsp;1

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-H18 NA 4.943% (TSFR01M + 0.63%, Cap 10.50%, Floor 0.52%) 8/20/62 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51229 | $51168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-H29 SA 4.938% (TSFR01M + 0.63%, Cap 12.00%, Floor 0.52%) 10/20/62 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988302 | &nbsp;&nbsp; 987082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-113 LY 3.00% 5/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496867 | &nbsp;&nbsp; 452621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H10 FA 5.023% (TSFR01M + 0.71%, Cap 7.50%) 4/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;3872686 | &nbsp;&nbsp; 3861146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H11 FC 4.973% (TSFR01M + 0.66%, Cap 7.50%, Floor 0.55%) 5/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478761 | &nbsp;&nbsp; 477411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H12 FB 5.023% (TSFR01M + 0.71%, Cap 7.50%, Floor 0.60%) 5/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;1780276 | &nbsp;&nbsp; 1776297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H20 FB 5.023% (TSFR01M + 0.71%, Cap 7.50%, Floor 0.60%) 8/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475501 | &nbsp;&nbsp; 474259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H30 FD 5.023% (TSFR01M + 0.71%, Cap 11.00%, Floor 0.60%) 10/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19491 | &nbsp;&nbsp; 19496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-H06 FD 5.343% (TSFR01M + 1.03%, Cap 7.50%, Floor 0.92%) 7/20/65 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409915 | &nbsp;&nbsp; 410471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-163 ZK 3.50% 11/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;2154633 | &nbsp;&nbsp; 1997324 |
| &nbsp;&nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations<br> (cost $28,334,957)** | &nbsp;&nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations<br> (cost $28,334,957)** | &nbsp;&nbsp; **28134157** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Commercial Mortgage-Backed Securities — 0.05%** | &nbsp;&nbsp;**Agency Commercial Mortgage-Backed Securities — 0.05%** | &nbsp;&nbsp;**Agency Commercial Mortgage-Backed Securities — 0.05%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Series X3FX A2FX 3.00% 6/25/27 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941391 | $919757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FREMF Mortgage Trust Series 2017-K71 B 144A 3.752% 11/25/50 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp; 458932 |
| &nbsp;&nbsp;&nbsp;**Total Agency Commercial Mortgage-Backed Securities<br> (cost $1,400,847)** | &nbsp;&nbsp;&nbsp;**Total Agency Commercial Mortgage-Backed Securities<br> (cost $1,400,847)** | &nbsp;&nbsp; **1378689** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 40.49%** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 40.49%** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 40.49%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae<br> 5.50% 3/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4191 | &nbsp;&nbsp; 4219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 15 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;4472847 | &nbsp;&nbsp; 4149823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664532 | &nbsp;&nbsp; 616147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683638 | &nbsp;&nbsp; 678733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 20 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;2734065 | &nbsp;&nbsp; 2335819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;2241122 | &nbsp;&nbsp; 1914450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947600 | &nbsp;&nbsp; 899564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519501 | &nbsp;&nbsp; 496260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;1407152 | &nbsp;&nbsp; 1422780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;9523103 | &nbsp;&nbsp; 7647250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;4926428 | &nbsp;&nbsp; 3960530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837063 | &nbsp;&nbsp; 676596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 2/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;3117288 | &nbsp;&nbsp; 2507470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 3/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106706 | &nbsp;&nbsp; 85439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;1177288 | &nbsp;&nbsp; 947446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;7282228 | &nbsp;&nbsp; 5805016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3215306 | &nbsp;&nbsp; 2597127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;2853535 | &nbsp;&nbsp; 2415043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;2323232 | &nbsp;&nbsp; 1953880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;1067884 | &nbsp;&nbsp; 898671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;5926823 | &nbsp;&nbsp; 4990683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 2/1/52 | 19255405 | &nbsp;&nbsp; 16071511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56425 | &nbsp;&nbsp; 47216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939104 | &nbsp;&nbsp; 845223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346932 | &nbsp;&nbsp; 312030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538664 | &nbsp;&nbsp; 477013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;2932662 | &nbsp;&nbsp; 2579810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1313575 | &nbsp;&nbsp; 1159770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;3416010 | &nbsp;&nbsp; 2992287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;6472324 | &nbsp;&nbsp; 5682136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2358467 | &nbsp;&nbsp; 2063084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 2/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;7750437 | &nbsp;&nbsp; 7223935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;2006275 | &nbsp;&nbsp; 1871354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1927051 | &nbsp;&nbsp; 1779966 |

---

2&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1241042 | $1133715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1523970 | &nbsp;&nbsp; 1395983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488663 | &nbsp;&nbsp; 446451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;3050670 | &nbsp;&nbsp; 2824069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;4071482 | &nbsp;&nbsp; 3725034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2652047 | &nbsp;&nbsp; 2418333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2851251 | &nbsp;&nbsp; 2599567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;5279897 | &nbsp;&nbsp; 4769503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;5994266 | &nbsp;&nbsp; 5474375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp; 6741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27813 | &nbsp;&nbsp; 26769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50848 | &nbsp;&nbsp; 48167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;2516839 | &nbsp;&nbsp; 2381617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382442 | &nbsp;&nbsp; 362590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 6/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1813403 | &nbsp;&nbsp; 1711310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;2031676 | &nbsp;&nbsp; 1913890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1890044 | &nbsp;&nbsp; 1794626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34240 | &nbsp;&nbsp; 32255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94730 | &nbsp;&nbsp; 89238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435036 | &nbsp;&nbsp; 411718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;2459774 | &nbsp;&nbsp; 2358652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;4301812 | &nbsp;&nbsp; 4014495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 5/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18861 | &nbsp;&nbsp; 18469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31313 | &nbsp;&nbsp; 30738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35745 | &nbsp;&nbsp; 35089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 5/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138891 | &nbsp;&nbsp; 137193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123280 | &nbsp;&nbsp; 121540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11287 | &nbsp;&nbsp; 11142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 5/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86741 | &nbsp;&nbsp; 85618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502715 | &nbsp;&nbsp; 498687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159327 | &nbsp;&nbsp; 154604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140586 | &nbsp;&nbsp; 136718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;3949116 | &nbsp;&nbsp; 3845497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;6986228 | &nbsp;&nbsp; 6861849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548066 | &nbsp;&nbsp; 533529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 10/1/52 | 10779249 | &nbsp;&nbsp; 10329092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 2/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;6305290 | &nbsp;&nbsp; 6042640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 3/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474 | &nbsp;&nbsp; 3497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5457 | &nbsp;&nbsp; 5493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445 | &nbsp;&nbsp; 1456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36178 | &nbsp;&nbsp; 36494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58629 | &nbsp;&nbsp; 59143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240721 | &nbsp;&nbsp; 242825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;2702088 | &nbsp;&nbsp; 2693680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6313 | &nbsp;&nbsp; 6335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89675 | &nbsp;&nbsp; 91976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 5/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;3172159 | &nbsp;&nbsp; 3244303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;7217360 | &nbsp;&nbsp; 7246542 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3946475 | $3979093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475920 | &nbsp;&nbsp; 475909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5315 | &nbsp;&nbsp; 5469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 8/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11505 | &nbsp;&nbsp; 11796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp; 2111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;2689892 | &nbsp;&nbsp; 2804564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;2369754 | &nbsp;&nbsp; 2422304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;6283643 | &nbsp;&nbsp; 6383302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp; 935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15622 | &nbsp;&nbsp; 16412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30127 | &nbsp;&nbsp; 31418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19823 | &nbsp;&nbsp; 20744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp; 3904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 | &nbsp;&nbsp; 1552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 30 yr<br> TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 5/1/55 | 50200000 | &nbsp;&nbsp; 39889760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 4/1/55 | 49200000 | &nbsp;&nbsp; 40906641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 5/1/55 | 72100000 | &nbsp;&nbsp; 64977652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 5/1/55 | 70500000 | &nbsp;&nbsp; 65583823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 5/1/55 | 184000000 | &nbsp;&nbsp; 175910937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 4/1/55 | 11400000 | &nbsp;&nbsp; 11172576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 5/1/55 | 99000000 | &nbsp;&nbsp; 96943790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 4/1/55 | 15103000 | &nbsp;&nbsp; 15082924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 5/1/55 | 142100000 | &nbsp;&nbsp; 141788986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 4/1/55 | 32151000 | &nbsp;&nbsp; 32653906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 5/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;5300000 | &nbsp;&nbsp; 5377313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 6/1/55 | 27000000 | &nbsp;&nbsp; 27365380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 4/1/55 | 28600000 | &nbsp;&nbsp; 29490018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac ARM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% (RFUCCT1Y + 1.625%, Cap 10.50%, Floor 1.625%) 2/1/38 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10783 | &nbsp;&nbsp; 10969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.555% (RFUCCT1Y + 2.18%, Cap 10.462%, Floor 2.18%) 5/1/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26306 | &nbsp;&nbsp; 27092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 15 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;4956933 | &nbsp;&nbsp; 4513283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;4982610 | &nbsp;&nbsp; 4769617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 20 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;2783042 | &nbsp;&nbsp; 2377949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900821 | &nbsp;&nbsp; 767332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;3232341 | &nbsp;&nbsp; 2756394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;4928557 | &nbsp;&nbsp; 4350707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;3351169 | &nbsp;&nbsp; 2950410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;1433471 | &nbsp;&nbsp; 1292702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;1834463 | &nbsp;&nbsp; 1654317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;2492451 | &nbsp;&nbsp; 2487857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2177304 | &nbsp;&nbsp; 1732601 |

---

&nbsp;&nbsp;&nbsp;&nbsp;3

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839141 | $711192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;6167797 | &nbsp;&nbsp; 5192381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;2665970 | &nbsp;&nbsp; 2251216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650415 | &nbsp;&nbsp; 541834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;1898145 | &nbsp;&nbsp; 1684357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 1/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;1396384 | &nbsp;&nbsp; 1235331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;1910774 | &nbsp;&nbsp; 1678179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468243 | &nbsp;&nbsp; 413371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739621 | &nbsp;&nbsp; 653336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141806 | &nbsp;&nbsp; 125184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;4513294 | &nbsp;&nbsp; 4001644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196734 | &nbsp;&nbsp; 172163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3517550 | &nbsp;&nbsp; 3087354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14990 | &nbsp;&nbsp; 13699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1464900 | &nbsp;&nbsp; 1336280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;3505865 | &nbsp;&nbsp; 3229958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1695616 | &nbsp;&nbsp; 1537786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;1096620 | &nbsp;&nbsp; 1031300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 9/1/52 | 10128127 | &nbsp;&nbsp; 9492553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630776 | &nbsp;&nbsp; 615259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;2170614 | &nbsp;&nbsp; 2107923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139348 | &nbsp;&nbsp; 135459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;1171129 | &nbsp;&nbsp; 1140174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1655582 | &nbsp;&nbsp; 1587096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 10/1/52 | 11362075 | &nbsp;&nbsp; 10887574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;6270969 | &nbsp;&nbsp; 6229202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;4492066 | &nbsp;&nbsp; 4453087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1893673 | &nbsp;&nbsp; 1861425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 6/1/53 | 15266231 | &nbsp;&nbsp; 15037934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938857 | &nbsp;&nbsp; 958700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;4624045 | &nbsp;&nbsp; 4651598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2913493 | &nbsp;&nbsp; 2934433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 2/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;3452162 | &nbsp;&nbsp; 3467544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;4523384 | &nbsp;&nbsp; 4569846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;5400956 | &nbsp;&nbsp; 5467116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 11/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;3989929 | &nbsp;&nbsp; 3985728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860349 | &nbsp;&nbsp; 886246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;3024984 | &nbsp;&nbsp; 3093235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9946 | &nbsp;&nbsp; 10265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33258 | &nbsp;&nbsp; 34409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00% 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4522 | &nbsp;&nbsp; 4726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA I S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;3632728 | &nbsp;&nbsp; 3258093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291169 | &nbsp;&nbsp; 258546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 10/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;1600084 | &nbsp;&nbsp; 1650599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA II S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 8/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602427 | &nbsp;&nbsp; 544688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 12/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;1469469 | &nbsp;&nbsp; 1302251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 9/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;1378242 | &nbsp;&nbsp; 1362308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 6/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;2607936 | &nbsp;&nbsp; 2651227 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA II S.F. 30 yr |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 4/20/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070 | $1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA II S.F. 30 yr TBA<br> 4.00% 5/20/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp; 5615339 |
| &nbsp;&nbsp;&nbsp;**Total Agency Mortgage-Backed Securities<br> (cost $1,110,931,233)** | &nbsp;&nbsp;&nbsp;**Total Agency Mortgage-Backed Securities<br> (cost $1,110,931,233)** | &nbsp;&nbsp;&nbsp;**Total Agency Mortgage-Backed Securities<br> (cost $1,110,931,233)** | &nbsp;&nbsp;**1094669370** |
| &nbsp;&nbsp;**Collateralized Debt Obligations — 4.43%** | &nbsp;&nbsp;**Collateralized Debt Obligations — 4.43%** | &nbsp;&nbsp;**Collateralized Debt Obligations — 4.43%** | &nbsp;&nbsp;**Collateralized Debt Obligations — 4.43%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGL CLO 17<br> Series 2022-17A AR 144A 5.253% (TSFR03M + 0.95%, Floor 0.95%) 1/21/35 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2550000 | &nbsp;&nbsp; 2539397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aimco CLO 15<br> Series 2021-15A D1R 144A 0.00% (TSFR03M + 2.75%, Floor 2.75%) 4/17/38 #, ≠, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp; 742693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anchorage Capital CLO 6 Series 2015-6A AR3 144A 5.73% (TSFR03M + 1.44%, Floor 1.44%) 4/22/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 4000864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apidos CLO XXIV Series 2016-24A A1AL 144A 5.505% (TSFR03M + 1.21%, Floor 0.95%) 10/20/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698227 | &nbsp;&nbsp; 698718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares European CLO X DAC Series 10A AR 144A 3.565% (EUR003M + 0.78%, Floor 0.78%) 10/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1507977 | &nbsp;&nbsp; 1630414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares European CLO XII DAC Series 12A AR 144A 3.594% (EUR003M + 0.85%, Floor 0.85%) 4/20/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282328 | &nbsp;&nbsp; 305073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares XXXIV CLO Series 2015-2A AR3 144A 5.623% (TSFR03M + 1.32%, Floor 1.32%) 4/17/33 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2602753 |

---

4&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlantic Avenue Series 2024-3A A 144A 5.576% (TSFR03M + 1.26%, Floor 1.26%) 1/20/35 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | $3993324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Senior Loan Fund XVIII Series 2021-18A A1R 144A 5.419% (TSFR03M + 1.11%, Floor 1.11%) 1/18/35 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp; 1699005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aurium CLO IV DAC Series 4A AR 144A 3.491% (EUR003M + 0.73%, Floor 0.73%) 1/16/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;2984139 | &nbsp;&nbsp; 3222294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Credit CLO Series 2021-7A A1R 144A 5.295% (TSFR03M + 0.98%, Floor 0.98%) 1/22/35 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp; 3138449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Euro CLO DAC Series 2018-2A AR 144A 3.484% (EUR003M + 0.74%, Floor 0.74%) 1/20/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869175 | &nbsp;&nbsp; 936515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 18Series 2021-18A C1R 144A 6.071% (TSFR03M + 2.85%, Floor 2.85%) 4/15/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 845541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BDS Series 2025-FL14 A 144A 5.582% (TSFR01M + 1.28%, Floor 1.28%) 10/21/42 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 598931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Black Diamond CLO DAC Series 2019-1A A1R 144A 3.536% (EUR003M + 0.98%, Floor 0.98%) 5/15/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184551 | &nbsp;&nbsp; 199437 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackrock European CLO VII DAC Series 7A AR 144A 3.405% (EUR003M + 0.62%, Floor 0.62%) 10/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1479880 | $1593634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlueMountain Fuji EUR CLO III DAC Series 3A A1R 144A 3.505% (EUR003M + 0.72%, Floor 0.72%) 1/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818133 | &nbsp;&nbsp; 883437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNPP AM Euro CLO DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A AR 144A 3.385% (EUR003M + 0.60%, Floor 0.60%) 4/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249666 | &nbsp;&nbsp; 268589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1A AR 144A 3.497% (EUR003M + 0.82%, Floor 0.82%) 7/22/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998992 | &nbsp;&nbsp; 1078371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cairn CLO X DAC Series 2018-10A AR 144A 3.565% (EUR003M + 0.78%, Floor 0.78%) 10/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1181911 | &nbsp;&nbsp; 1275818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canyon Capital CLO Series 2019-2A AR2 144A 5.319% (TSFR03M + 1.01%, Floor 1.01%) 10/15/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp; 1344954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canyon CLO Series 2020-2A AR2 144A 5.326% (TSFR03M + 1.03%, Floor 1.03%) 10/15/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp; 1894110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Euro CLO DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3A A1R 144A 3.485% (EUR003M + 0.70%, Floor 0.70%) 1/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1345202 | &nbsp;&nbsp; 1451245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A A1R 144A 3.446% (EUR003M + 0.89%, Floor 0.89%) 8/15/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577704 | &nbsp;&nbsp; 623675 |

---

&nbsp;&nbsp;&nbsp;&nbsp;5

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Global Market Strategies CLO Series 2013-1A A1RR 144A 5.53% (TSFR03M + 1.21%, Floor 0.95%) 8/14/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18246 | $18242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Global Market Strategies Euro CLO Series 2014-2A AR1 144A 3.306% (EUR003M + 0.75%, Floor 0.75%) 11/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923895 | &nbsp;&nbsp; 997156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CarVal CLO III Series 2019-2A AR2 144A 5.022% (TSFR03M + 0.99%, Floor 0.99%) 7/20/32 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp; 2398279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CBAMR Series 2021-15A D1R 144A 7.204% (TSFR03M + 2.90%, Floor 2.90%) 1/20/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 844091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIFC Funding Series 2025-1A D1 144A 6.746% (TSFR03M + 2.50%, Floor 2.50%) 4/23/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 834119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVC Cordatus Loan Fund VII DAC Series 7A ARR 144A 3.131% (EUR003M + 0.63%, Floor 0.63%) 9/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957122 | &nbsp;&nbsp; 1030516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 27 R Euro CLO DAC Series 2017-27A AR 144A 3.445% (EUR003M + 0.66%, Floor 0.66%) 4/15/33 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1694518 | &nbsp;&nbsp; 1824901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 52 Euro CLO DAC Series 2017-52A AR 144A 3.416% (EUR003M + 0.86%, Floor 0.86%) 5/15/34 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1652901 | &nbsp;&nbsp; 1784804 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 54 Senior Loan Fund Series 2017-54A AR 144A 5.443% (TSFR03M + 1.15%, Floor 1.15%) 10/19/29 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1786591 | $1786854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 109 CLO Series 2022-109A DR 144A 7.009% (TSFR03M + 2.70%, Floor 2.70%) 4/15/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 829033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elmwood CLO 22<br> Series 2023-1A D1R 144A 7.084% (TSFR03M + 2.80%, Floor 2.80%) 4/17/38 #, =, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp; 750000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Euro-Galaxy III CLO DAC Series 2013-3A ARRR 144A 3.291% (EUR003M + 0.62%, Floor 0.62%) 4/24/34 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;3987332 | &nbsp;&nbsp; 4287194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FS Rialto Series 2022-FL4 A 144A 6.245% (SOFR + 1.90%, Floor 1.90%) 1/19/39 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1205427 | &nbsp;&nbsp; 1206707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Galaxy XXI CLO Series 2015-21A AR 144A 5.575% (TSFR03M + 1.28%) 4/20/31 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450097 | &nbsp;&nbsp; 450159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generate CLO 10 Series 2022-10A D1R 144A 7.166% (TSFR03M + 2.85%, Floor 2.85%) 1/22/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 592553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harvest CLO XVI DAC Series 16A ARR 144A 3.425% (EUR003M + 0.64%, Floor 0.64%) 10/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1334564 | &nbsp;&nbsp; 1437018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harvest CLO XXI DAC Series 21A A2R 144A 1.04% 7/15/31 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199447 | &nbsp;&nbsp; 210549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HGI CRE CLO Series 2022-FL3 A 144A 6.049% (SOFR + 1.70%, Floor 1.70%) 4/20/37 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2191761 | &nbsp;&nbsp; 2191938 |

---

6&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indigo Credit Management II DAC Series 2A A 144A 4.004% (EUR003M + 1.20%, Floor 1.20%) 7/15/38 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | $1189111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco Euro CLO I DAC Series 1A A1R 144A 3.435% (EUR003M + 0.65%, Floor 0.65%) 7/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202532 | &nbsp;&nbsp; 218252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jubilee CLO DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-17A A1RR 144A 3.435% (EUR003M + 0.65%, Floor 0.65%) 4/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1361490 | &nbsp;&nbsp; 1465225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-17A A2RR 144A 3.435% (EUR003M + 0.65%, Floor 0.65%) 4/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486247 | &nbsp;&nbsp; 523763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR CLO 18<br> Series 18 AR 144A 5.495% (TSFR03M + 1.20%, Floor 0.94%) 7/18/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104140 | &nbsp;&nbsp; 104168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LCM XV Series 15A AR2 144A 5.555% (TSFR03M + 1.26%, Floor 1.00%) 7/20/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273735 | &nbsp;&nbsp; 273609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Park Funding XLVI Series 2020-46A ARR 144A 5.324% (TSFR03M + 1.00%, Floor 1.00%) 10/15/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3900000 | &nbsp;&nbsp; 3884018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Park Funding XXVII Series 2018-27A D1R 144A 7.167% (TSFR03M + 2.85%, Floor 2.85%) 4/20/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 840683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnetite Xlv Series 2025-45A D1 144A TBD (TSFR03M + 2.50%, Floor 2.50%) 4/15/38 #, •, ^^ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp; 742693 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Man GLG Euro CLO V DAC Series 5A A1R 144A 3.191% (EUR003M + 0.69%, Floor 0.69%) 12/15/31 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1167769 | $1259169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Man GLG US CLO Series 2018-1A A1R 144A 5.695% (TSFR03M + 1.40%) 4/22/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692615 | &nbsp;&nbsp; 692668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon CLO Series 2021-16A A1A 144A 5.764% (TSFR03M + 1.46%, Floor 1.20%) 4/15/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp; 1250609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MF1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL14 A 144A 6.054% (TSFR01M + 1.74%, Floor 1.74%) 3/19/39 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 901000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL17 A 144A 5.632% (TSFR01M + 1.32%, Floor 1.32%) 2/18/40 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1397691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman CLO XX Series 2015-20A D1R3 144A 6.968% (TSFR03M + 2.65%, Floor 2.65%) 4/15/39 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 490938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 42<br> Series 2021-42A AR 144A 5.669% (TSFR03M + 0.95%, Floor 0.95%) 7/16/35 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp; 647362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oak Hill European Credit Partners IV DAC Series 2015-4A A1RE 144A 3.474% (EUR003M + 0.73%, Floor 0.73%) 1/20/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121590 | &nbsp;&nbsp; 131585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oaktree CLO Series 2020-1A D1RR 144A 6.916% (TSFR03M + 2.60%, Floor 2.60%) 1/15/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 785405 |

---

&nbsp;&nbsp;&nbsp;&nbsp;7

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OCP Euro CLO DAC Series 2020-4A AR 144A 3.584% (EUR003M + 0.88%, Floor 0.88%) 9/22/34 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1645153 | $1777245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Octagon Investment Partners 51<br> Series 2021-1A AR 144A 5.309% (TSFR03M + 0.99%, Floor 0.99%) 7/20/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp; 2737534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFSI BSL XII Series 2023-12A D1R 144A 7.505% (TSFR03M + 3.20%, Floor 3.20%) 1/20/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 795862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFSI BSL XIV CLO Series 2024-14A D1 144A 8.143% (TSFR03M + 3.85%, Floor 3.85%) 7/20/37 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp; 755196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OHA Credit Partners VII Series 2012-7A D1R4 144A 6.822% (TSFR03M + 2.50%, Floor 2.50%) 2/20/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 833722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OZLM IX Series 2014-9A A1A4 144A 5.493% (TSFR03M + 1.20%, Floor 1.20%) 10/20/31 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622089 | &nbsp;&nbsp; 622104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square CLO Series 2015-1A A1A5 144A 5.38% (TSFR03M + 1.05%, Floor 1.05%) 5/21/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp; 3690776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square European<br> Loan Funding DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A AR 144A TBD (EUR003M + 0.97%, Floor 0.97%) 8/15/33 #, •, ^^ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 540650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A A 144A TBD (EUR003M + 0.85%, Floor 0.85%) 10/15/34 #, •, ^^ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1720781 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square Loan<br> Funding |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A A1 144A 5.355% (TSFR03M + 1.06%, Floor 1.06%) 7/20/29 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31849 | $31839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A A1 144A 5.364% (TSFR03M + 1.06%, Floor 1.06%) 10/15/29 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377007 | &nbsp;&nbsp; 376872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PFP Series 2024-11 A 144A 6.154% (TSFR01M + 1.83%, Floor 1.83%) 9/17/39 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3902481 | &nbsp;&nbsp; 3908386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sculptor European CLO V DAC Series 5A AR 144A 3.556% (EUR003M + 0.79%, Floor 0.79%) 1/14/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;3045530 | &nbsp;&nbsp; 3283150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segovia European CLO DAC Series 2019-6A AR 144A 3.624% (EUR003M + 0.88%, Floor 0.88%) 7/20/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1452510 | &nbsp;&nbsp; 1567728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signal Peak CLO 5<br> Series 2018-5A A1R 144A 5.85% (TSFR03M + 1.55%, Floor 1.55%) 4/25/37 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1807265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO XVI Series 2017-2A AR 144A 5.542% (TSFR03M + 1.24%) 7/25/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301585 | &nbsp;&nbsp; 301524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Symphony CLO XXIV Series 2020-24A AR 144A 5.49% (TSFR03M + 1.20%, Floor 1.20%) 1/23/32 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1484035 | &nbsp;&nbsp; 1484926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCI-Symphony CLO Series 2017-1A AR 144A 5.494% (TSFR03M + 1.19%, Floor 0.93%) 7/15/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471204 | &nbsp;&nbsp; 471416 |

---

8&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO Series 2019-2A D1R2 144A 7.317% (TSFR03M + 3.00%, Floor 3.00%) 1/20/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | $837523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tikehau CLO IX DAC Series 9A AR 144A 4.039% (EUR003M + 1.22%, Floor 1.22%) 1/20/37 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1083963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toro European CLO 6 DAC Series 6A AR 144A 3.709% (EUR003M + 0.92%, Floor 0.92%) 1/12/32 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296653 | &nbsp;&nbsp; 320360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toro European CLO 7 DAC Series 7A ARE 144A 3.366% (EUR003M + 0.81%, Floor 0.81%) 2/15/34 #, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1896586 | &nbsp;&nbsp; 2045554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture 32 CLO Series 2018-32A A1 144A 5.655% (TSFR03M + 1.36%, Floor 1.10%) 7/18/31 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331962 | &nbsp;&nbsp; 332212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture 34 CLO Series 2018-34A AR 144A 5.582% (TSFR03M + 1.28%, Floor 1.28%) 10/15/31 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2126437 | &nbsp;&nbsp; 2128211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture 42 CLO Series 2021-42A A1A 144A 5.694% (TSFR03M + 1.39%, Floor 1.13%) 4/15/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp; 1300308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture XXIX CLO Series 2017-29A AR 144A 5.575% (TSFR03M + 1.25%, Floor 0.99%) 9/7/30 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1307334 | &nbsp;&nbsp; 1306962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vibrant CLO XI Series 2019-11A A1R1 144A 5.675% (TSFR03M + 1.38%, Floor 1.12%) 7/20/32 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1132395 | &nbsp;&nbsp; 1132545 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** | &nbsp;&nbsp;**Collateralized Debt Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya CLO Series 2014-4A A1RA 144A 5.649% (TSFR03M + 1.36%) 7/14/31 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292662 | $292928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wellington Management CLO 4<br> Series 2025-4A D1 144A 6.829% (TSFR03M + 2.55%, Floor 2.55%) 4/18/38 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp; 737821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zais CLO 16<br> Series 2020-16A A1R2 144A 5.446% (TSFR03M + 1.13%, Floor 1.13%) 10/20/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp; 3688770 |
| &nbsp;&nbsp;&nbsp;**Total Collateralized Debt Obligations<br> (cost $123,822,773)** | &nbsp;&nbsp;&nbsp;**Total Collateralized Debt Obligations<br> (cost $123,822,773)** | &nbsp;&nbsp;&nbsp;**Total Collateralized Debt Obligations<br> (cost $123,822,773)** | &nbsp;&nbsp; **119753436** |
| &nbsp;&nbsp;**Corporate Bonds — 31.77%** | &nbsp;&nbsp;**Corporate Bonds — 31.77%** | &nbsp;&nbsp;**Corporate Bonds — 31.77%** | &nbsp;&nbsp;**Corporate Bonds — 31.77%** |
| &nbsp;&nbsp;Banking — 12.16% | &nbsp;&nbsp;Banking — 12.16% | &nbsp;&nbsp;Banking — 12.16% | &nbsp;&nbsp;Banking — 12.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABN AMRO Bank 144A 2.47% 12/13/29 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 3688443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Access Bank 144A 6.125% 9/21/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 294777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akbank TAS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80% 6/22/31 μ, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 198000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.498% 1/20/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 200975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Rajhi Sukuk 6.25% 7/21/30 μ, ψ, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp; 380816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axis Bank 4.10% 9/8/26 μ, ψ, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp; 333469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco de Credito del Peru 144A 3.25% 9/30/31 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp; 487881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco de Credito e Inversiones 144A 8.75% 5/8/29 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 292429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Mercantil del Norte |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 6/27/29 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 196530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 1/10/28 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp; 209613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Santander |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.175% 3/24/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1188254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875% 10/18/31 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 925444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bangkok Bank |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.466% 9/23/36 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 278188 |

---

&nbsp;&nbsp;&nbsp;&nbsp;9

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bangkok Bank |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 9/23/25 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | $278526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel 144A 7.129% 7/18/33 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp; 273371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.384% 4/2/26 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 499975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.974% 2/7/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;6900000 | &nbsp;&nbsp; 6715836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.162% 1/24/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1855000 | &nbsp;&nbsp; 1881018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.202% 4/25/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 711326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.288% 4/25/34 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 5025053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.518% 10/25/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5610000 | &nbsp;&nbsp; 5506664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.819% 9/15/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2639000 | &nbsp;&nbsp; 2735351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.204% 11/10/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3670000 | &nbsp;&nbsp; 3814962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of Montreal |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30% 11/26/84 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467000 | &nbsp;&nbsp; 466168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70% 5/26/84 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1245000 | &nbsp;&nbsp; 1268202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of New York Mellon |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70% 9/20/25 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;3385000 | &nbsp;&nbsp; 3372963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.942% 2/11/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp; 1483375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30% 3/20/30 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;1255000 | &nbsp;&nbsp; 1289416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.942% 9/10/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1994289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.972% 5/16/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 3010310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.501% 8/9/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1624075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375% 12/15/25 μ, ψ, ■ | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 646502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125% 6/15/25 μ, ψ | GBP | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 2328091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.437% 11/2/33 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 3349747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BBVA Mexico SA<br> Institucion De Banca Multiple Grupo Financiero BBVA Mexico |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 9/13/34 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 192656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 2/11/35 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 202440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.125% 1/8/39 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp; 234542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNP Paribas |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.904% 9/30/28 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1677142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.159% 9/15/29 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 548714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.871% 4/19/32 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 263873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.052% 1/13/31 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2378755 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNP Paribas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.786% 1/13/33 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | $1636476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 8/19/25 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 703176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.375% 8/19/25 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 502269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BPCE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.748% 7/19/33 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 5047389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.612% 10/19/27 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;3350000 | &nbsp;&nbsp; 3441584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burgan Bank 2.75% 12/15/31 μ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp; 278969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citibank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.438% 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp; 965396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.488% 12/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;2545000 | &nbsp;&nbsp; 2588355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57% 4/30/34 | &nbsp;&nbsp;&nbsp;&nbsp;2570000 | &nbsp;&nbsp; 2641996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20% 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 980596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.075% 4/23/29 μ | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp; 2360384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.174% 2/13/30 μ | &nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp; 1925106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.61% 9/29/26 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897000 | &nbsp;&nbsp; 901366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.612% 3/4/56 μ | &nbsp;&nbsp;&nbsp;&nbsp;1180000 | &nbsp;&nbsp; 1153428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02% 1/24/36 μ | &nbsp;&nbsp;&nbsp;&nbsp;1215000 | &nbsp;&nbsp; 1227069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75% 2/15/30 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;1505000 | &nbsp;&nbsp; 1491946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00% 8/15/34 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 883375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooperatieve Rabobank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75% 7/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp; 1332914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% 8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1995120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.447% 3/5/30 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp; 3379652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 12/18/24 #, ψ | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 160000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.375% 8/21/26 #, ψ | &nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp; 152000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.442% 8/11/28 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp; 1815632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50% 12/11/23 ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 32000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danske Bank 144A 5.705% 3/1/30 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp; 3499533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.129% 11/24/26 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 687505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.547% 9/18/31 μ | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1379874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.729% 1/14/32 μ | &nbsp;&nbsp;&nbsp;&nbsp;2331000 | &nbsp;&nbsp; 2096952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.119% 7/14/26 μ | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 3009944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72% 1/18/29 μ | &nbsp;&nbsp;&nbsp;&nbsp;2030000 | &nbsp;&nbsp; 2125456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.819% 11/20/29 μ | &nbsp;&nbsp;&nbsp;&nbsp;1559000 | &nbsp;&nbsp; 1653668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.146% 7/13/27 μ | &nbsp;&nbsp;&nbsp;&nbsp;1130000 | &nbsp;&nbsp; 1161859 |

---

10&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55% 5/5/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95% 3/14/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp; 3930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.431% 3/9/27 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1939965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.615% 3/15/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp; 3338147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.223% 5/1/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;6100000 | &nbsp;&nbsp; 6017293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.016% 10/23/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2080000 | &nbsp;&nbsp; 2023251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.207% 1/28/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp; 2129018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.561% 11/19/45 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1695000 | &nbsp;&nbsp; 1652589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.734% 1/28/56 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp; 1923775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.484% 10/24/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5195000 | &nbsp;&nbsp; 5488742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aval 144A 4.375% 2/4/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp; 250881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HSBC Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.013% 9/22/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3556208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.848% 6/4/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp; 2426196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.871% 11/22/32 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 869782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21% 8/11/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 505035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.546% 3/4/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1839738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875% 9/28/26 μ, ψ | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 642617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huntington Bancshares 6.208% 8/21/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1770000 | &nbsp;&nbsp; 1842989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICICI Bank 144A 4.00% 3/18/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 198522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ING Groep |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% 5/16/27 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 2757163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55% 3/19/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 4034807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intesa Sanpaolo |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.00% 9/23/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp; 1247565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.625% 6/20/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2785391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.20% 11/28/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 887774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 1/11/27 μ, ψ, ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 228364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.522% 4/22/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp; 4937314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.947% 2/24/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 1068867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.963% 1/25/33 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 441541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.005% 4/23/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 884803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.452% 12/5/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1489960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.851% 7/25/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1409175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.012% 1/23/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp; 1304611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14% 1/24/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp; 1102154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.571% 4/22/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1340000 | &nbsp;&nbsp; 1366929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.254% 10/23/34 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910000 | &nbsp;&nbsp; 977666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase Bank 5.11% 12/8/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 4053088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KeyBank 5.85% 11/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995000 | &nbsp;&nbsp; 1022395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kookmin Bank 144A 2.50% 11/4/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | &nbsp;&nbsp; 269660 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lloyds Banking Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 4/1/26 μ, ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | $216260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75% 3/18/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1376147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.462% 1/5/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp; 3647371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.721% 6/5/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp; 912079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Bank & Trust 5.375% 3/6/29 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp; 269888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group 2.559% 2/25/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1630090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mizuho Financial Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.226% 5/25/26 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1594092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.564% 9/13/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1202057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.591% 5/25/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1786716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.261% 5/22/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp; 2920373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.495% 10/26/29 μ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1975462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625% 1/20/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 3957064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.79% 3/21/30 μ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp; 4857180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21% 4/20/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1390118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.123% 2/1/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp; 4156952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.376% (SOFR + 1.02%) 4/13/28 • |  | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp; 4538024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.516% 11/19/55 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1475000 | &nbsp;&nbsp; 1441960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.652% 4/13/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1225046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.656% 4/18/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1237418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.831% 4/19/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3007000 | &nbsp;&nbsp; 3117559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.138% 10/16/26 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp; 871838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.296% 10/18/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1717000 | &nbsp;&nbsp; 1785900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.407% 11/1/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1688000 | &nbsp;&nbsp; 1781937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nationwide Building<br> Society |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.972% 2/16/28 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 774837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.302% 3/8/29 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp; 5128986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NatWest Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80% 4/5/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 5016105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 5/12/27 μ, ψ | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 622077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.778% 3/1/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3878818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NBK SPC 144A 1.625% 9/15/27 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 382786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NBK Tier 1 Financing 2 144A 4.50% 8/27/25 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp; 208842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nykredit Realkredit 2.00% 10/1/53 ■ | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oversea-Chinese Banking 144A 1.832% 9/10/30 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp; 321154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Bank 4.05% 7/26/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp; 2352826 |

---

&nbsp;&nbsp;&nbsp;&nbsp;11

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Financial Services<br> Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.575% 1/29/36 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | $997883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.676% 1/22/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp; 1116124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 10/20/34 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1645000 | &nbsp;&nbsp; 1819382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Popular 7.25% 3/13/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp; 887167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QNB Bank 10.75% 11/15/33 μ, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 300524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santander UK Group<br> Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.823% 11/3/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp; 3114161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.534% 1/10/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3350000 | &nbsp;&nbsp; 3484170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Bank 144A 5.75% 4/15/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 225736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Financial Group 144A 5.00% 7/24/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 202593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Chartered |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.005% 10/15/30 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 1098570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.301% 1/9/29 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp; 279863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 1/16/32 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 277268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial<br> Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.474% 7/8/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2579456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.222% 9/17/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp; 1964364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.454% 1/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 2046603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Bank 144A 5.20% 3/7/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp; 2738277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TBC Bank JSC 144A 10.25% 7/30/29 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp; 397611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truist Bank 4.632% 9/17/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5182000 | &nbsp;&nbsp; 5073763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truist Financial 4.95% 9/1/25 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;1465000 | &nbsp;&nbsp; 1457957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkiye Garanti Bankasi 144A 8.375% 2/28/34 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 301838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25% 11/5/28 μ, ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1007511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.126% 8/13/30 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 1861040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.194% 4/1/31 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp; 2410906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.699% 2/8/35 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;4525000 | &nbsp;&nbsp; 4641765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.85% 9/10/29 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp; 1789065 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 2/10/30 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | $868851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 3/1/29 μ, ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 487170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UniCredit 7.50% 6/3/26 μ, ψ, ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 671671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Bancorp |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.491% 11/3/36 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp; 2825248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.653% 2/1/29 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1136000 | &nbsp;&nbsp; 1136865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.046% 2/12/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp; 1482410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.384% 1/23/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | &nbsp;&nbsp; 505124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.424% 2/12/36 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785000 | &nbsp;&nbsp; 790105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.678% 1/23/35 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1115000 | &nbsp;&nbsp; 1140260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.727% 10/21/26 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194000 | &nbsp;&nbsp; 195153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.787% 10/26/27 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp; 744123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.196% 6/17/27 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 885662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.584% 5/22/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5300000 | &nbsp;&nbsp; 5190062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90% 3/15/26 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 980700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.198% 1/23/30 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp; 2237348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.244% 1/24/31 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1115000 | &nbsp;&nbsp; 1133932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.389% 4/24/34 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 5036153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.428% (SOFR + 1.07%) 4/22/28 • |  | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp; 2922355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.707% 4/22/28 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3883462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo Bank 5.254% 12/11/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp; 2130175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yapi ve Kredi Bankasi 144A 7.875% 1/22/31 #, μ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp; 352430 |
|  |  |  | &nbsp;&nbsp; 328828834 |
| &nbsp;&nbsp;Basic Industry — 0.52% | &nbsp;&nbsp;Basic Industry — 0.52% | &nbsp;&nbsp;Basic Industry — 0.52% | &nbsp;&nbsp;Basic Industry — 0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anglo American Capital 144A 5.50% 5/2/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp; 296587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings 6.50% 4/15/40 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp; 341860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Braskem Netherlands Finance 144A 8.00% 10/15/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 301833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celanese US Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 4/15/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151000 | &nbsp;&nbsp; 150035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75% 4/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;1256000 | &nbsp;&nbsp; 1220457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cia de Minas Buenaventura 144A 6.80% 2/4/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp; 487440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cliffs 144A 7.00% 3/15/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp; 1796730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSN Resources 144A 8.875% 12/5/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 241816 |

---

12&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Basic Industry (continued) | &nbsp;&nbsp;Basic Industry (continued) | &nbsp;&nbsp;Basic Industry (continued) | &nbsp;&nbsp;Basic Industry (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dow Chemical 5.95% 3/15/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;1175000 | $1138055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Quantum Minerals 144A 9.375% 3/1/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 289546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FMG Resources August 2006 144A 6.125% 4/15/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1885000 | &nbsp;&nbsp; 1860855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freeport-McMoRan 5.45% 3/15/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp; 225243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INEOS Finance 144A 5.625% 8/15/30 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 216338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INEOS Styrolution Group 2.25% 1/16/27 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 312225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LD Celulose International 144A 7.95% 1/26/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp; 469424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnera 144A 7.25% 11/15/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp; 832603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novelis 144A 4.75% 1/30/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1580000 | &nbsp;&nbsp; 1474669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nucor 5.10% 6/1/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;1775000 | &nbsp;&nbsp; 1750968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sasol Financing USA 144A 8.75% 5/3/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | &nbsp;&nbsp; 307453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Usiminas International 144A 7.50% 1/27/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp; 419461 |
|  |  |  | &nbsp;&nbsp; 14133598 |
| &nbsp;&nbsp;Brokerage — 0.20% | &nbsp;&nbsp;Brokerage — 0.20% | &nbsp;&nbsp;Brokerage — 0.20% | &nbsp;&nbsp;Brokerage — 0.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Financial Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625% 10/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;2925000 | &nbsp;&nbsp; 2474438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875% 7/21/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;1761000 | &nbsp;&nbsp; 1808654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% 6/8/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331000 | &nbsp;&nbsp; 343071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 1/20/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp; 897257 |
|  |  |  | &nbsp;&nbsp; 5523420 |
| &nbsp;&nbsp;Capital Goods — 0.60% | &nbsp;&nbsp;Capital Goods — 0.60% | &nbsp;&nbsp;Capital Goods — 0.60% | &nbsp;&nbsp;Capital Goods — 0.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeropuerto Internacional de Tocumen 144A 5.125% 8/11/61 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 141820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeropuertos Argentina 2000 144A 8.50% 8/1/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265723 | &nbsp;&nbsp; 274219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA 144A 3.25% 9/1/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;3140000 | &nbsp;&nbsp; 2817325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boeing 2.196% 2/4/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;2930000 | &nbsp;&nbsp; 2867274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bombardier |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 6/1/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp; 672924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 7/1/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1105000 | &nbsp;&nbsp; 1110140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celestial Dynasty 6.375% 8/22/28 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp; 325702 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IHS Holding 144A 8.25% 11/29/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | $702217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingston Airport Revenue Finance 144A 6.75% 12/15/36 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp; 645392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northrop Grumman |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp; 370640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20% 6/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;2540000 | &nbsp;&nbsp; 2380710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rolls-Royce 144A 5.75% 10/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1024387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Industries 144A 3.375% 1/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;1073000 | &nbsp;&nbsp; 933817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAV Havalimanlari Holding 144A 8.50% 12/7/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp; 564228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.625% 3/1/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp; 684446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 12/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp; 690420 |
|  |  | &nbsp;&nbsp; 16205661 |
| &nbsp;&nbsp;Communications — 2.03% | &nbsp;&nbsp;Communications — 2.03% | &nbsp;&nbsp;Communications — 2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70% 2/9/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp; 185418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 5/26/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 316960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT&T |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55% 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;2673000 | &nbsp;&nbsp; 2192420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;3340000 | &nbsp;&nbsp; 2279272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30% 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 979412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings 144A 4.25% 1/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;1625000 | &nbsp;&nbsp; 1337773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications<br> Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80% 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 3454913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85% 4/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;4755000 | &nbsp;&nbsp; 2890134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40% 12/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;4252000 | &nbsp;&nbsp; 2825680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05% 3/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3783758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connect Finco 144A 9.00% 9/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp; 1433377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CT Trust 144A 5.125% 2/3/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp; 260808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iliad Holding 144A 8.50% 4/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 209956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meituan 144A 4.625% 10/2/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp; 346248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30% 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp; 870034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55% 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp; 371028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp; 774753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40% 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp; 877562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcontinent Communications 144A 8.00% 8/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;1625000 | &nbsp;&nbsp; 1645088 |

---

&nbsp;&nbsp;&nbsp;&nbsp;13

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Millicom International Cellular 144A 7.375% 4/2/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286000 | $289415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prosus 144A 3.061% 7/13/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp; 340851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rogers Communications 5.30% 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;2075000 | &nbsp;&nbsp; 2037582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sable International Finance 144A 7.125% 10/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp; 307401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silknet JSC 144A 8.375% 1/31/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 253133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Radio 144A 4.125% 7/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;2115000 | &nbsp;&nbsp; 1880630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sprint 7.625% 3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 203171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sprint Capital 6.875% 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;3275000 | &nbsp;&nbsp; 3497411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecom Argentina 144A 9.50% 7/18/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp; 366893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time Warner Cable 7.30% 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;2120000 | &nbsp;&nbsp; 2227107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T-Mobile USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50% 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp; 2043040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;3445000 | &nbsp;&nbsp; 2500926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30% 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1002112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75% 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp; 2119153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1342534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp; 563744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp; 786829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875% 11/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;1665000 | &nbsp;&nbsp; 1677370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri 144A 7.45% 1/24/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp; 353567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verizon Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55% 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537000 | &nbsp;&nbsp; 473340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875% 11/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 685582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.78% 2/15/35 # | &nbsp;&nbsp;&nbsp;&nbsp;1027000 | &nbsp;&nbsp; 997336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 1/31/31 # | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp; 1115229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 7/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp; 809417 |
|  |  | &nbsp;&nbsp; 54908367 |
| &nbsp;&nbsp;Consumer Cyclical — 1.55% | &nbsp;&nbsp;Consumer Cyclical — 1.55% | &nbsp;&nbsp;Consumer Cyclical — 1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BMW US Capital 144A 4.75% 3/21/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 902294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment 144A 6.50% 2/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;1910000 | &nbsp;&nbsp; 1905210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.00% 8/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 478675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 3/1/26 # | &nbsp;&nbsp;&nbsp;&nbsp;1063000 | &nbsp;&nbsp; 1063976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Puerto de Liverpool 144A 6.658% 1/22/37 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp; 477452 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Motor Credit |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33% 11/25/25 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | $215539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.386% 2/17/26 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 538586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70% 8/10/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 675225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90% 2/16/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp; 486128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90% 2/10/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 268530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25% 9/15/25 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1083194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.542% 8/1/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;1034000 | &nbsp;&nbsp; 1021038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 6/16/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 599623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80% 3/5/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp; 3516527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80% 3/8/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp; 1069963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.798% 11/7/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp; 550473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80% 5/12/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;2690000 | &nbsp;&nbsp; 2763752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Future Retail 144A 5.60% 1/22/25 #, ‡ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp; 2345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Motors Financial |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60% 6/18/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478000 | &nbsp;&nbsp; 478331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 2/8/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp; 4136189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90% 1/7/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp; 584679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95% 4/4/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;1306000 | &nbsp;&nbsp; 1300325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Domestic Operating |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.625% 2/15/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 614066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.00% 5/1/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 634408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Grand Vacations Borrower Escrow 144A 5.00% 6/1/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 844123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875% 6/25/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp; 542627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95% 6/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;1375000 | &nbsp;&nbsp; 1380114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Capital Services 144A 5.25% 1/22/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp; 334156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marriott International 3.50% 10/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 802891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Melco Resorts Finance |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 12/4/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 184308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 7/21/28 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 192488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 4/17/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp; 413639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGM China Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 2/1/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | &nbsp;&nbsp; 485396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 6/18/25 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 398677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissan Motor |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.345% 9/17/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1361996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.81% 9/17/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 570278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissan Motor Acceptance 144A 2.45% 9/15/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 270580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resideo Funding 144A 6.50% 7/15/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp; 1348461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sands China |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30% 3/8/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 189597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85% 3/8/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 362034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25% 8/8/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp; 368505 |

---

14&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sands China |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% 6/18/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | $237197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40% 8/8/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1803440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toyota Motor Credit 5.129% (SOFR + 0.77%) 8/7/26 • |  | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 1104618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Volkswagen Group of<br> America Finance |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.95% 3/25/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 601017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.05% 3/27/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1399880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warnermedia Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05% 3/15/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 640186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.141% 3/15/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 364782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Macau |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 1/15/26 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 198790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 10/1/27 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 195431 |
|  |  |  | &nbsp;&nbsp; 41961739 |
| &nbsp;&nbsp;Consumer Non-Cyclical — 2.45% | &nbsp;&nbsp;Consumer Non-Cyclical — 2.45% | &nbsp;&nbsp;Consumer Non-Cyclical — 2.45% | &nbsp;&nbsp;Consumer Non-Cyclical — 2.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05% 11/21/39 |  | &nbsp;&nbsp;&nbsp;&nbsp;3193000 | &nbsp;&nbsp; 2801590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95% 3/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp; 4369782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35% 3/15/44 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp; 727338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adani Ports & Special Economic Zone 144A 4.375% 7/3/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp; 211424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen 2.20% 2/21/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp; 3169829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ashtead Capital 144A 5.95% 10/15/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 406000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astrazeneca Finance 1.75% 5/28/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp; 4255992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bayer US Finance |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 11/21/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 815136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 1/21/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 207416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.375% 11/21/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 628557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 11/21/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 420440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bayer US Finance II 144A 4.375% 12/15/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 194880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton Dickinson Euro Finance 1.336% 8/13/41 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 499263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bimbo Bakeries USA 144A 6.40% 1/15/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp; 277139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biocon Biologics Global 144A 6.67% 10/9/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp; 324390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge Limited Finance 4.20% 9/17/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;2930000 | &nbsp;&nbsp; 2880916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coty 144A 5.00% 4/15/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp; 553747 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health 3.75% 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;4400000 | $4153825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Pass Through Trust 144A 5.773% 1/10/33 #, ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50469 | &nbsp;&nbsp; 50539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.75% 2/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp; 505451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 6/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp; 870715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10% 2/12/35 | &nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp; 1499576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 2/12/55 | &nbsp;&nbsp;&nbsp;&nbsp;1030000 | &nbsp;&nbsp; 1043639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Payments 3.20% 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp; 2013786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haleon US Capital 3.375% 3/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 477935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp; 4174372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp; 3302291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25% 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 2024174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45% 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;1735000 | &nbsp;&nbsp; 1720677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indofood CBP Sukses Makmur 4.805% 4/27/52 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 161464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Container Terminal Services 4.75% 6/17/30 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 241293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kaspi.KZ JSC 144A 6.25% 3/26/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp; 337030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mars |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.80% 3/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;4590000 | &nbsp;&nbsp; 4617378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 3/1/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 703225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.20% 3/1/35 # | &nbsp;&nbsp;&nbsp;&nbsp;1720000 | &nbsp;&nbsp; 1729263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.65% 5/1/45 # | &nbsp;&nbsp;&nbsp;&nbsp;1155000 | &nbsp;&nbsp; 1158202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.70% 5/1/55 # | &nbsp;&nbsp;&nbsp;&nbsp;1375000 | &nbsp;&nbsp; 1374821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MHP Lux 144A 6.95% 4/3/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp; 346828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Movida Europe 144A 7.85% 4/11/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp; 240830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo 5.00% 2/7/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp; 550140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalty Pharma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75% 9/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;2975000 | &nbsp;&nbsp; 2777589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35% 9/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;1568000 | &nbsp;&nbsp; 994022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90% 9/2/54 | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp; 1196759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco 5.10% 9/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 913874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenet Healthcare 4.25% 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;2680000 | &nbsp;&nbsp; 2527481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teva Pharmaceutical<br> Finance Netherlands III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 5/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 195585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75% 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 323331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;15

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals North America 3.875% 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594000 | $539472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group 3.70% 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 593000 |
|  |  | &nbsp;&nbsp; 66102406 |
| &nbsp;&nbsp;Energy — 2.65% | &nbsp;&nbsp;Energy — 2.65% | &nbsp;&nbsp;Energy — 2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3R Lux 144A 9.75% 2/5/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp; 245452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adnoc Murban Rsc 144A 4.25% 9/11/29 # | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp; 3537783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azule Energy Finance 144A 8.125% 1/23/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp; 345975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP Capital Markets 4.875% 3/22/30 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp; 2639012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP Capital Markets<br> America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.721% 1/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;1465000 | &nbsp;&nbsp; 1286462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.812% 2/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;1305000 | &nbsp;&nbsp; 1283564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.227% 11/17/34 | &nbsp;&nbsp;&nbsp;&nbsp;2865000 | &nbsp;&nbsp; 2880844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canacol Energy 144A 5.75% 11/24/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 263025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 1/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;1525000 | &nbsp;&nbsp; 1510286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;1520000 | &nbsp;&nbsp; 1470117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy 5.20% 4/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp; 678388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EIG Pearl Holdings 144A 4.387% 11/30/46 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 194845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25% 4/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp; 1342011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70% 3/8/33 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 5133597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 7/15/80 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp; 566625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95% 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 705027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp; 3249894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10% 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;2655000 | &nbsp;&nbsp; 2772735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25% 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;4420000 | &nbsp;&nbsp; 4388765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 11/15/26 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;3380000 | &nbsp;&nbsp; 3384465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products<br> Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95% 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp; 917471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35% 1/31/33 | &nbsp;&nbsp;&nbsp;&nbsp;2695000 | &nbsp;&nbsp; 2763138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco 144A 2.16% 3/31/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530389 | &nbsp;&nbsp; 467935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geopark 144A 8.75% 1/31/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp; 445035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNL Quintero 144A 4.634% 7/31/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357480 | &nbsp;&nbsp; 353574 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greensaif Pipelines Bidco 144A 6.51% 2/23/42 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | $574935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guara Norte 144A 5.198% 6/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375365 | &nbsp;&nbsp; 352048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp; 664202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 4/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp; 631479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medco Maple Tree 144A 8.96% 4/27/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp; 336302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL Energy Operating 144A 8.375% 2/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp; 1053527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NuStar Logistics 5.625% 4/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp; 139532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375% 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp; 764144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55% 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp; 527957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125% 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;2042000 | &nbsp;&nbsp; 2100628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35% 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1476560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05% 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;1349000 | &nbsp;&nbsp; 1302921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65% 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 721190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70% 11/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp; 899167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ORLEN 144A 6.00% 1/30/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp; 487897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pertamina Persero 144A 3.65% 7/30/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197000 | &nbsp;&nbsp; 186883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petronas Capital 144A 5.848% 4/3/55 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp; 385633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raizen Fuels Finance 144A 6.95% 3/5/54 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp; 453633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries 144A 2.875% 1/12/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp; 351982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santos Finance 144A 3.649% 4/29/31 # | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp; 1541920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEPLAT Energy 144A 9.125% 3/21/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp; 364310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Gas Corridor CJSC 6.875% 3/24/26 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 202180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Oil Co. of the Azerbaijan Republic 6.95% 3/18/30 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 208956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources 4.20% 2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 277429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Partners 5.00% 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;2525000 | &nbsp;&nbsp; 2526023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tecpetrol 144A 7.625% 1/22/33 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp; 381254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tennessee Gas Pipeline 144A 2.90% 3/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;6275000 | &nbsp;&nbsp; 5727691 |

---

16&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportadora de Gas del Sur 144A 8.50% 7/24/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | $308178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass 144A 3.875% 11/1/33 # | &nbsp;&nbsp;&nbsp;&nbsp;3870000 | &nbsp;&nbsp; 3333852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Woodside Finance 144A 3.70% 9/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 395109 |
|  |  | &nbsp;&nbsp; 71503547 |
| &nbsp;&nbsp;Finance Companies — 2.49% | &nbsp;&nbsp;Finance Companies — 2.49% | &nbsp;&nbsp;Finance Companies — 2.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abu Dhabi Developmental Holding PJSC 144A 5.50% 5/8/34 # | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1557209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AerCap Ireland Capital<br> DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45% 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp; 1396718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 10/29/28 | &nbsp;&nbsp;&nbsp;&nbsp;4503000 | &nbsp;&nbsp; 4232658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45% 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1198371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45% 4/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp; 149895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10% 1/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1009166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp; 1354000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Lease |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875% 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp; 2020578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;6050000 | &nbsp;&nbsp; 5550356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 12/15/26 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967000 | &nbsp;&nbsp; 920318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;1884000 | &nbsp;&nbsp; 1877133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10% 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;1363000 | &nbsp;&nbsp; 1378680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express 5.284% 7/26/35 μ | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp; 1699896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apollo Debt Solutions 6.70% 7/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;2755000 | &nbsp;&nbsp; 2844072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aviation Capital Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.50% 11/1/27 # | &nbsp;&nbsp;&nbsp;&nbsp;3905000 | &nbsp;&nbsp; 3773426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 7/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1411733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avolon Holdings Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.528% 11/18/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp; 108619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.95% 1/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;1030000 | &nbsp;&nbsp; 1025980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Private Credit<br> Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.60% 11/22/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp; 912664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 11/22/34 # | &nbsp;&nbsp;&nbsp;&nbsp;1460000 | &nbsp;&nbsp; 1405499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Reg Finance 5.00% 12/6/34 | &nbsp;&nbsp;&nbsp;&nbsp;1990000 | &nbsp;&nbsp; 1962697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl Credit Income |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.80% 3/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;1995000 | &nbsp;&nbsp; 1957202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.60% 9/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp; 1189445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Capital Finance 6.087% 6/14/33 | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3993753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cantor Fitzgerald 144A 7.20% 12/12/28 # | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp; 2955428 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Finance Companies (continued) | &nbsp;&nbsp;Finance Companies (continued) | &nbsp;&nbsp;Finance Companies (continued) | &nbsp;&nbsp;Finance Companies (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Castle 2.25% 1/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | $4275491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DAE Funding 3.375% 3/20/28 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp; 2575932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Encore Capital Group 144A 8.50% 5/15/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 412845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323 PIK, 144A 11.00% 9/12/31 #, <<< |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272700 | &nbsp;&nbsp; 281563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GE Capital UK Funding Unlimited 5.875% 1/18/33 ■ | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 397288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indigo Group 1.625% 4/19/28 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp; 1764601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Finance 144A 5.00% 8/15/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp; 1439684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jyske Realkredit 1.50% 10/1/53 | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Logicor Financing 3.25% 11/13/28 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp; 3634771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAF Global Securities 7.875% 6/30/27 μ, ψ, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp; 223600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owl Rock Capital 2.875% 6/11/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 459064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realkredit Danmark |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00% 10/1/50 | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50% 10/1/53 ■ | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 10/1/53 ■ | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius Real Estate 1.125% 6/22/26 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp; 2534393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UWM Holdings 144A 6.625% 2/1/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1480000 | &nbsp;&nbsp; 1469325 |
|  |  |  | &nbsp;&nbsp; 67354053 |
| &nbsp;&nbsp;Industrials — 0.81% | &nbsp;&nbsp;Industrials — 0.81% | &nbsp;&nbsp;Industrials — 0.81% | &nbsp;&nbsp;Industrials — 0.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeropuertos Dominicanos Siglo XXI 144A 7.00% 6/30/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 246106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amcor Flexibles North America 144A 5.50% 3/17/35 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1004007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol 2.20% 9/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;1415000 | &nbsp;&nbsp; 1214725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATP Tower Holdings 144A 7.875% 2/3/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp; 587149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boeing |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.259% 5/1/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 514558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.298% 5/1/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 734384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.388% 5/1/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 639694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.528% 5/1/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 536030 |

---

&nbsp;&nbsp;&nbsp;&nbsp;17

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boeing |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.858% 5/1/54 |  | &nbsp;&nbsp;&nbsp;&nbsp;5465000 | $5941024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.008% 5/1/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 433826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cemex 144A 9.125% 3/14/28 #, μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 223555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Co. 5.70% 1/19/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp; 969413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holcim Finance<br> Luxembourg |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% 4/23/31 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 1005619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625% 4/6/30 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 953112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HTA Group 144A 7.50% 6/4/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp; 370959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mauser Packaging Solutions Holding 144A 7.875% 4/15/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp; 1265813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MV24 Capital 144A 6.748% 6/1/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376050 | &nbsp;&nbsp; 364004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quikrete Holdings 144A 6.375% 3/1/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1007165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sitios Latinoamerica 144A 6.00% 11/25/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 318330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10% 2/20/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;1375000 | &nbsp;&nbsp; 1387393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60% 12/1/54 |  | &nbsp;&nbsp;&nbsp;&nbsp;2030000 | &nbsp;&nbsp; 2040672 |
|  |  |  | &nbsp;&nbsp; 21757538 |
| &nbsp;&nbsp;Insurance — 0.69% | &nbsp;&nbsp;Insurance — 0.69% | &nbsp;&nbsp;Insurance — 0.69% | &nbsp;&nbsp;Insurance — 0.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 Park Funding Trust 144A 5.74% 2/15/55 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1195000 | &nbsp;&nbsp; 1186773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIA Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.90% 4/6/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 984523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 4/5/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp; 314687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon 2.90% 8/23/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;4930000 | &nbsp;&nbsp; 3029048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon North America |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30% 3/1/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;1040000 | &nbsp;&nbsp; 1064510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 3/1/54 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp; 370110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. 5.55% 2/15/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 960305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Athene Global Funding 3.534% (EUR003M + 1.00%) 2/23/27 ■, • | EUR | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp; 2718598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Athene Holding |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45% 5/15/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;2510000 | &nbsp;&nbsp; 1612652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95% 5/25/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;1120000 | &nbsp;&nbsp; 802729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% 10/15/54 μ |  | &nbsp;&nbsp;&nbsp;&nbsp;1180000 | &nbsp;&nbsp; 1171434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F&G Global Funding 144A 5.875% 1/16/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 1119946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings 4.625% 4/29/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 986938 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Insurance (continued) | &nbsp;&nbsp;Insurance (continued) | &nbsp;&nbsp;Insurance (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan 5.35% 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;2450000 | $2395908 |
|  |  | &nbsp;&nbsp; 18718161 |
| &nbsp;&nbsp;Real Estate Investment Trusts — 0.82% | &nbsp;&nbsp;Real Estate Investment Trusts — 0.82% | &nbsp;&nbsp;Real Estate Investment Trusts — 0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30% 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1369185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65% 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 295031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95% 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp; 2089760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20% 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 609719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPR Properties 4.50% 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp; 1677833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage 5.40% 2/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;2340000 | &nbsp;&nbsp; 2343907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GLP Capital 4.00% 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2459815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iron Mountain 144A 5.25% 7/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661000 | &nbsp;&nbsp; 634396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iron Mountain Information Management Services 144A 5.00% 7/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;2105000 | &nbsp;&nbsp; 1946576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IRSA Inversiones y Representaciones 144A 8.00% 3/31/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp; 381669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prologis 4.20% 2/15/33 CAD | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp; 908496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starwood Property Trust 144A 7.25% 4/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;3315000 | &nbsp;&nbsp; 3402513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunac China Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK, 144A 6.00% 9/30/26 #, >> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482710 | &nbsp;&nbsp; 55512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK, 144A 6.25% 9/30/27 #, >> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281821 | &nbsp;&nbsp; 32410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.869% 1/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | &nbsp;&nbsp; 285696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 2/13/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp; 261499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VICI Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 12/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp; 631188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 100071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95% 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1815000 | &nbsp;&nbsp; 1800994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625% 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp; 711498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 2/1/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp; 147142 |
|  |  | &nbsp;&nbsp; 22144910 |
| &nbsp;&nbsp;Technology — 1.85% | &nbsp;&nbsp;Technology — 1.85% | &nbsp;&nbsp;Technology — 1.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 10/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;5425000 | &nbsp;&nbsp; 5328018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 10/4/34 | &nbsp;&nbsp;&nbsp;&nbsp;2045000 | &nbsp;&nbsp; 1976783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Holdings 144A 7.25% 8/1/32 # | &nbsp;&nbsp;&nbsp;&nbsp;1845000 | &nbsp;&nbsp; 1816888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.137% 11/15/35 # | &nbsp;&nbsp;&nbsp;&nbsp;2789000 | &nbsp;&nbsp; 2312691 |

---

18&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Technology (continued) | &nbsp;&nbsp;Technology (continued) | &nbsp;&nbsp;Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.187% 11/15/36 # | &nbsp;&nbsp;&nbsp;&nbsp;5700000 | $4681023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.419% 4/15/33 # | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp; 1425111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.926% 5/15/37 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp; 110620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05% 7/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp; 2028285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05% 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp; 2939478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW 3.276% 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;4143000 | &nbsp;&nbsp; 3911330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud Software Group 144A 6.50% 3/31/29 # | &nbsp;&nbsp;&nbsp;&nbsp;1920000 | &nbsp;&nbsp; 1867787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entegris 144A 4.75% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp; 1186863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv 3.50% 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp; 3329370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foundry JV Holdco 144A 6.10% 1/25/36 # | &nbsp;&nbsp;&nbsp;&nbsp;1520000 | &nbsp;&nbsp; 1557976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KLA 4.95% 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;2110000 | &nbsp;&nbsp; 1934644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leidos 5.50% 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;1590000 | &nbsp;&nbsp; 1585912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NXP 3.875% 6/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp; 3221953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60% 4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357000 | &nbsp;&nbsp; 248216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25% 2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;1885000 | &nbsp;&nbsp; 1910178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 8/3/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 799537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roper Technologies 4.90% 10/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp; 1144062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synopsys |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15% 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;1220000 | &nbsp;&nbsp; 1226890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70% 4/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp; 914131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TD SYNNEX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375% 8/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 739067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65% 8/9/31 | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1025406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSMC Arizona 2.50% 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp; 522329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSMC Global 144A 2.25% 4/23/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 214770 |
|  |  | &nbsp;&nbsp; 49959318 |
| &nbsp;&nbsp;Transportation — 0.32% | &nbsp;&nbsp;Transportation — 0.32% | &nbsp;&nbsp;Transportation — 0.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Canada 144A 3.875% 8/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 293590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 144A 5.50% 4/20/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208334 | &nbsp;&nbsp; 207921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 2015-1 Class A Pass Through Trust 3.375% 11/1/28 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944438 | &nbsp;&nbsp; 915259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 2016-1 Class AA Pass Through Trust 3.575% 7/15/29 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416970 | &nbsp;&nbsp; 403117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 2016-3 Class AA Pass Through Trust 3.00% 4/15/30 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809924 | &nbsp;&nbsp; 765908 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Transportation (continued) | &nbsp;&nbsp;Transportation (continued) | &nbsp;&nbsp;Transportation (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 2019-1 Class AA Pass Through Trust 3.15% 8/15/33 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145742 | $133504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 2021-1 Class A Pass Through Trust 2.875% 1/11/36 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86594 | &nbsp;&nbsp; 75951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;British Airways 2018-1 Class AA Pass Through Trust 144A 3.80% 3/20/33 #, ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807026 | &nbsp;&nbsp; 778524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;British Airways 2019-1 Class AA Pass Through Trust 144A 3.30% 6/15/34 #, ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229222 | &nbsp;&nbsp; 213489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delta Air Lines 7.375% 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 916309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latam Airlines Group 144A 7.875% 4/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp; 451644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mileage Plus Holdings 144A 6.50% 6/20/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 316555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penske Truck Leasing 144A 4.45% 1/29/26 # | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp; 2095414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Airlines 144A 4.625% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp; 284111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Airlines 2020-1 Class A Pass Through Trust 5.875% 4/15/29 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809808 | &nbsp;&nbsp; 824669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Airways 2013-A Class A Pass Through Trust 3.95% 5/15/27 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31726 | &nbsp;&nbsp; 31509 |
|  |  | &nbsp;&nbsp; 8707474 |
| &nbsp;&nbsp;Utilities — 2.63% | &nbsp;&nbsp;Utilities — 2.63% | &nbsp;&nbsp;Utilities — 2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adani Electricity Mumbai 144A 3.949% 2/12/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 209734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AEP Texas 5.40% 6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;2805000 | &nbsp;&nbsp; 2823496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AES Andes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 3/14/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp; 377779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.15% 6/10/55 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp; 289761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appalachian Power 4.50% 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;2045000 | &nbsp;&nbsp; 1960035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy 2.85% 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;4385000 | &nbsp;&nbsp; 2692662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Gas 144A 3.757% 3/16/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 455521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Electricity Lux II 144A 6.01% 1/20/33 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339450 | &nbsp;&nbsp; 348785 |

---

&nbsp;&nbsp;&nbsp;&nbsp;19

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cikarang Listrindo 144A 5.65% 3/12/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | $701841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Energy Generation 5.75% 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;1595000 | &nbsp;&nbsp; 1536323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominion Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% 5/15/55 μ | &nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp; 1085068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 6.875% 2/1/55 μ | &nbsp;&nbsp;&nbsp;&nbsp;1295000 | &nbsp;&nbsp; 1341187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duke Energy 6.45% 9/1/54 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp; 475386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edison International 5.25% 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp; 287111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Engie Energia Chile 144A 6.375% 4/17/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp; 391914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entergy Arkansas 4.20% 4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp; 699468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entergy Louisiana 4.95% 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp; 210749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entergy Texas 3.55% 9/30/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 498662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelon 5.45% 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp; 656217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDZ Elektrik Dagitim 144A 9.00% 10/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp; 299864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia Global Utilities JSC 144A 8.875% 7/25/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 280841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia Power 4.70% 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp; 3164156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JSW Hydro Energy 144A 4.125% 5/18/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243375 | &nbsp;&nbsp; 218603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico Generadora de Energia 144A 5.50% 12/6/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311882 | &nbsp;&nbsp; 307950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mong Duong Finance Holdings 144A 5.125% 5/7/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381226 | &nbsp;&nbsp; 369724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nevada Power 5.90% 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1670000 | &nbsp;&nbsp; 1673225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy Capital<br> Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90% 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp; 4152920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55% 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;1475000 | &nbsp;&nbsp; 1411510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375% 8/15/55 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp; 526878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50% 8/15/55 μ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp; 664260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oglethorpe Power |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75% 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1620000 | &nbsp;&nbsp; 1147990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20% 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp; 363684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pacific Gas & Electric |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10% 8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1313578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 752442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30% 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 680368 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pacific Gas & Electric |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30% 8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;5698000 | $4194373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 398851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 731990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20% 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp; 3096828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40% 3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp; 1217592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp; 935015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10% 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp; 366864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45% 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | &nbsp;&nbsp; 615226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80% 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp; 546919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pedernales Electric Cooperative 144A 6.202% 11/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp; 544360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG&E 5.25% 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp; 1066785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saavi Energia 144A 8.875% 2/10/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp; 344403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875% 10/15/25 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp; 570937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40% 10/1/54 μ | &nbsp;&nbsp;&nbsp;&nbsp;2691000 | &nbsp;&nbsp; 2559118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sorik Marapi Geothermal Power 144A 7.75% 8/5/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365301 | &nbsp;&nbsp; 358407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern California<br> Edison |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp; 657903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20% 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;1340000 | &nbsp;&nbsp; 1308789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25% 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 905600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern California Gas 2.95% 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 2525028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Star Energy Geothermal Wayang Windu 144A 6.75% 4/24/33 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331525 | &nbsp;&nbsp; 334029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;System Energy Resources 2.14% 12/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 785663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia Electric and Power 5.00% 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 3965733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra 144A 7.00% 12/15/26 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1520172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 4/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp; 601776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.95% 10/15/33 # | &nbsp;&nbsp;&nbsp;&nbsp;6060000 | &nbsp;&nbsp; 6514130 |
|  |  | &nbsp;&nbsp; 71036183 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $879,081,345)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $879,081,345)** | &nbsp;&nbsp; **858845209** |
| &nbsp;&nbsp;**Government Agency Obligations — 0.44%** | &nbsp;&nbsp;**Government Agency Obligations — 0.44%** | &nbsp;&nbsp;**Government Agency Obligations — 0.44%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airport Authority 144A 4.875% 7/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 203775 |

---

20&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Government Agency Obligations (continued)** | &nbsp;&nbsp;**Government Agency Obligations (continued)** | &nbsp;&nbsp;**Government Agency Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Electricity Lux Mpc II 144A 5.58% 10/20/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | $320192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consorcio Transmantaro 144A 5.20% 4/11/38 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp; 266748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corp Nacional del Cobre<br> de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.70% 1/30/50 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp; 154241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 7/17/42 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 158538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.33% 1/13/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 412252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Development Bank of Kazakhstan JSC 144A 5.50% 4/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 201002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ecopetrol 5.875% 11/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 270580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIEMEX Energia - Banco Actinver Institucion de Banca Multiple 144A 7.25% 1/31/41 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338045 | &nbsp;&nbsp; 334918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC 4.50% 4/5/26 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp; 321838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freeport Indonesia 144A 5.315% 4/14/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp; 328912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaci First Investment 4.875% 2/14/35 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264000 | &nbsp;&nbsp; 255033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgian Railway JSC 4.00% 6/17/28 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 176977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hutama Karya Persero 144A 3.75% 5/11/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454000 | &nbsp;&nbsp; 427100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KazMunayGas National 144A 5.375% 4/24/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 197962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ma'aden Sukuk 144A 5.25% 2/13/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp; 678473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mazoon Assets 144A 5.25% 10/9/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 197760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mersin Uluslararasi Liman Isletmeciligi 144A 8.25% 11/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 282652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MISC Capital Two Labuan 144A 3.75% 4/6/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 309711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OCP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.75% 6/23/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 177766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.125% 6/23/51 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp; 257976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 5/2/54 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp; 425837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ooredoo International Finance 144A 4.625% 10/10/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 390254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oryx Funding 144A 5.80% 2/3/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 252213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perusahaan Perseroan<br> Persero Perusahaan Listik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.00% 6/30/50 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp; 226133 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Government Agency Obligations (continued)** | &nbsp;&nbsp;**Government Agency Obligations (continued)** | &nbsp;&nbsp;**Government Agency Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perusahaan Perseroan<br> Persero Perusahaan Listik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.125% 5/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | $295215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 5/15/47 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp; 355689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95% 1/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 508464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70% 2/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp; 66838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75% 9/21/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp; 267060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.69% 1/23/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp; 180180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00% 2/7/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 104245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petronas Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.48% 1/28/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 171067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.95% 1/3/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp; 431902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTTEP Treasury Center 144A 2.587% 6/10/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 191692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QazaqGaz JSC 144A 4.375% 9/26/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp; 417129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabian Oil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.50% 11/24/70 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 136730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 4/16/39 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 174524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 7/17/54 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 189094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweihan PV Power PJSC 144A 3.625% 1/31/49 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396563 | &nbsp;&nbsp; 328028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecommunications Telekom Srbija AD Belgrade 144A 7.00% 10/28/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp; 474637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YPF 144A 9.50% 1/17/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp; 434123 |
| &nbsp;&nbsp;&nbsp;**Total Government Agency Obligations<br> (cost $12,524,219)** | &nbsp;&nbsp;&nbsp;**Total Government Agency Obligations<br> (cost $12,524,219)** | &nbsp;&nbsp; **11955460** |
| &nbsp;&nbsp;**Municipal Bonds — 0.40%** | &nbsp;&nbsp;**Municipal Bonds — 0.40%** | &nbsp;&nbsp;**Municipal Bonds — 0.40%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Municipal<br> Power, Ohio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Combined Hydroelectric Projects - Build America Bonds) Series B 8.084% 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1902930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago, Illinois Transit<br> Authority Sales Tax Receipts Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pension Funding) Series A 6.899% 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;1642461 | &nbsp;&nbsp; 1819174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Retiree Health Care) Series B 6.899% 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;1642475 | &nbsp;&nbsp; 1819188 |

---

&nbsp;&nbsp;&nbsp;&nbsp;21

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden State, California<br> Tobacco Securitization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Senior) Series A1 2.587% 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | $1560345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal Electric<br> Authority of Georgia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Build America Bonds Plant Vogtle Units 3 & 4 Project) 6.655% 4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;1685000 | &nbsp;&nbsp; 1850417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Urban<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Build America Bonds) Series E 5.77% 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp; 638706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Virginia Tobacco<br> Settlement Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Class 1 Senior Current Interest Bonds) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 1.82% 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 242160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 2.351% 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 279459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 2.551% 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 274707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 2.951% 6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 443335 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $12,110,872)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $12,110,872)** | &nbsp;&nbsp; **10830421** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities — 3.72%** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities — 3.72%** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities — 3.72%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABFC Trust Series 2006-HE1 A2D 4.875% (TSFR01M + 0.55%, Floor 0.44%) 1/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222865 | &nbsp;&nbsp; 123005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACHV ABS Trust Series 2024-3AL A 144A 5.01% 12/26/31 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633710 | &nbsp;&nbsp; 634227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Argent Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-M1 A2C 4.735% (TSFR01M + 0.41%, Floor 0.30%) 7/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;1037760 | &nbsp;&nbsp; 276678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-W4 A2C 4.755% (TSFR01M + 0.43%, Floor 0.32%) 5/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544833 | &nbsp;&nbsp; 130016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bear Stearns Asset-Backed Securities I Trust Series 2005-FR1 M2 5.44% (TSFR01M + 1.12%, Floor 1.01%) 6/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266744 | &nbsp;&nbsp; 260166 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carvana Auto<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-N2 A2 144A 5.90% 8/10/27 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166080 | $166649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-P2 A3 5.33% 7/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 4035377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centex Home Equity Loan Trust Series 2002-A AF6 5.54% 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chase Auto Owner Trust Series 2024-2A A3 144A 5.52% 6/25/29 # | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp; 2946028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chesapeake Funding II Series 2024-1A A1 144A 5.52% 5/15/36 # | &nbsp;&nbsp;&nbsp;&nbsp;2465653 | &nbsp;&nbsp; 2492241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIT Mortgage Loan Trust Series 2007-1 1M1 144A 6.685% (TSFR01M + 2.36%, Floor 2.25%) 10/25/37 #, • | &nbsp;&nbsp;&nbsp;&nbsp;2732728 | &nbsp;&nbsp; 2767851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Auto Receivables<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1 A3 144A 5.84% 1/18/28 # | &nbsp;&nbsp;&nbsp;&nbsp;7453302 | &nbsp;&nbsp; 7511847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 A2A 144A 5.43% 10/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912369 | &nbsp;&nbsp; 913818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Countrywide Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-3 2A 4.835% (TSFR01M + 0.51%, Floor 0.40%) 8/25/34 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21388 | &nbsp;&nbsp; 20844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-1 AF6 4.428% 7/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15366 | &nbsp;&nbsp; 15045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-11 1AF6 6.15% 9/25/46 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18210 | &nbsp;&nbsp; 16690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-26 2A4 4.875% (TSFR01M + 0.55%, Floor 0.44%) 6/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658255 | &nbsp;&nbsp; 644283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-6 2A4 5.055% (TSFR01M + 0.73%, Floor 0.62%) 9/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935047 | &nbsp;&nbsp; 768062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CWABS Asset-Backed Certificates Trust Series 2005-3 MV7 6.385% (TSFR01M + 2.06%, Floor 1.95%) 8/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp; 3887366 |

---

22&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CyrusOne Data Centers Issuer I Series 2024-2A A2 144A 4.50% 5/20/49 # | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | $4809094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DataBank Issuer Series 2021-1A A2 144A 2.06% 2/27/51 # | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1553979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamond Infrastructure Funding Series 2021-1A A 144A 1.76% 4/15/49 # | &nbsp;&nbsp;&nbsp;&nbsp;4700000 | &nbsp;&nbsp; 4452455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer Series 2021-1A A2I 144A 2.662% 4/25/51 # | &nbsp;&nbsp;&nbsp;&nbsp;7196500 | &nbsp;&nbsp; 6644133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EquiFirst Mortgage Loan Trust Series 2004-2 M7 7.435% (TSFR01M + 3.11%, Floor 3.00%) 10/25/34 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662361 | &nbsp;&nbsp; 610646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Series 2024-B A3 5.10% 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp; 2936294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Series 2024-1 A1 144A 5.29% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp; 6612317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fremont Home Loan Trust Series 2004-B M1 5.305% (TSFR01M + 0.98%, Floor 0.87%) 5/25/34 • | &nbsp;&nbsp;&nbsp;&nbsp;1675194 | &nbsp;&nbsp; 1623264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Issuer Series 2024-1 A2 144A 6.19% 6/20/54 # | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp; 1393019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GE-WMC Mortgage Securities Trust Series 2006-1 A2B 4.735% (TSFR01M + 0.41%, Floor 0.30%) 8/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;1544429 | &nbsp;&nbsp; 656461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust Series 2024-3A A2 144A 5.59% 10/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438511 | &nbsp;&nbsp; 444110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Series 2024-2 A2A 5.33% 3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;2142063 | &nbsp;&nbsp; 2147191 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden Credit Card Trust Series 2022-4A A 144A 4.31% 9/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | $1997339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GreenState Auto Receivables Trust Series 2024-1A A2 144A 5.53% 8/16/27 # | &nbsp;&nbsp;&nbsp;&nbsp;2093439 | &nbsp;&nbsp; 2099846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GSAMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-FM3 A2D 4.895% (TSFR01M + 0.34%, Floor 0.23%) 11/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707703 | &nbsp;&nbsp; 329231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-SEA1 A 144A 4.735% (TSFR01M + 0.41%, Floor 0.30%) 12/25/36 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316919 | &nbsp;&nbsp; 313421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Loan Asset-Backed Trust Series 2007-A 2A3 4.675% (TSFR01M + 0.35%, Floor 0.24%) 4/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952876 | &nbsp;&nbsp; 641137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HSI Asset Securitization Trust Series 2006-HE1 2A1 4.535% (TSFR01M + 0.21%, Floor 0.10%) 10/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20450 | &nbsp;&nbsp; 6888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase Bank Series 2021-3 B 144A 0.76% 2/26/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18136 | &nbsp;&nbsp; 18070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Mortgage Acquisition Trust Series 2006-CW2 AV5 4.675% (TSFR01M + 0.35%, Floor 0.24%) 8/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17171 | &nbsp;&nbsp; 17110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Beach Mortgage<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-1 2A4 5.035% (TSFR01M + 0.71%, Floor 0.60%) 2/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;2210190 | &nbsp;&nbsp; 1888799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-7 1A 4.745% (TSFR01M + 0.42%, Floor 0.31%) 8/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;2044827 | &nbsp;&nbsp; 1039307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley ABS<br> Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-HE1 A2C 4.585% (TSFR01M + 0.26%, Floor 0.15%) 11/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;3317402 | &nbsp;&nbsp; 1861474 |

---

&nbsp;&nbsp;&nbsp;&nbsp;23

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley ABS<br> Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-HE5 A2D 4.775% (TSFR01M + 0.45%, Floor 0.34%) 3/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;2526551 | $1066317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Century Home Equity Loan Trust Series 2005-1 M2 5.155% (TSFR01M + 0.83%, Cap 12.50%, Floor 0.83%) 3/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233599 | &nbsp;&nbsp; 233779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissan Master Owner Trust Receivables Series 2024-B A 144A 5.05% 2/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp; 8065174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option One Mortgage<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-1 M1 5.215% (TSFR01M + 0.89%, Floor 0.78%) 2/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645111 | &nbsp;&nbsp; 611888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-4 2A4 4.745% (TSFR01M + 0.42%, Floor 0.31%) 4/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;4327283 | &nbsp;&nbsp; 2433265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Porsche Innovative Lease Owner Trust Series 2024-1A A3 144A 4.67% 11/22/27 # | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp; 3812782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Series 2025-1 D 5.43% 3/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp; 1619346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sofi Professional Loan Program Series 2016-F A2 144A 3.02% 2/25/40 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43632 | &nbsp;&nbsp; 42751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Structured Asset Investment Loan Trust Series 2003-BC2 M1 5.815% (TSFR01M + 1.49%, Floor 1.38%) 4/25/33 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15778 | &nbsp;&nbsp; 15973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Structured Asset<br> Securities Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-BC1 A6 4.705% (TSFR01M + 0.38%, Floor 0.27%) 3/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808049 | &nbsp;&nbsp; 764328 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** | &nbsp;&nbsp;**Non-Agency Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Structured Asset<br> Securities Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-BC2 A1 4.59% (TSFR01M + 0.27%, Floor 0.16%) 9/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;2626458 | $1599508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Series 2024-B A3 5.33% 1/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp; 5577891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Auto Credit Securitization Trust Series 2024-1 A 144A 6.17% 8/10/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233148 | &nbsp;&nbsp; 233266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust Series 2024-3A A2A 144A 4.82% 9/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;1915272 | &nbsp;&nbsp; 1916944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Series 2024-B A2B 4.779% (SOFR + 0.43%, Floor 0.43%) 9/15/27 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885730 | &nbsp;&nbsp; 886066 |
| &nbsp;&nbsp;&nbsp;**Total Non-Agency Asset-Backed Securities<br> (cost $106,743,702)** | &nbsp;&nbsp;&nbsp;**Total Non-Agency Asset-Backed Securities<br> (cost $106,743,702)** | &nbsp;&nbsp; **100585141** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 3.02%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 3.02%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 3.02%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alternative Loan Trust Resecuritization Series 2008-2R 3A1 6.00% 8/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790512 | &nbsp;&nbsp; 368750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust Series 2024-2 A1 144A 5.985% 1/25/69 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;1134411 | &nbsp;&nbsp; 1139695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-10 3A31 4.054% 1/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299 | &nbsp;&nbsp; 11833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-2 1A4 4.745% 5/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242249 | &nbsp;&nbsp; 211226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banc of America Funding<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-E 7A1 6.065% (12MTA + 1.43%, Floor 1.43%) 6/20/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58415 | &nbsp;&nbsp; 46709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-I 1A1 6.48% 12/20/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51302 | &nbsp;&nbsp; 50737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banc of America Mortgage Trust Series 2003-D 2A1 6.87% 5/25/33 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp; 358 |

---

24&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bear Stearns ARM Trust Series 2003-5 2A1 5.26% 8/25/33 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11092 | $10252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bear Stearns Asset-Backed Securities Trust Series 2007-SD1 22A1 5.358% 10/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90897 | &nbsp;&nbsp; 39679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chase Home Lending<br> Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-7 A11 144A 5.64% (SOFR + 1.30%, Cap 8.00%) 6/25/55 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3236149 | &nbsp;&nbsp; 3250414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL1 A1A 144A 3.25% 3/25/64 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1663024 | &nbsp;&nbsp; 1488536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL3 A1A 144A 3.25% 9/25/64 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3143703 | &nbsp;&nbsp; 2788998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chase Mortgage Finance Trust Series 2005-A1 3A1 4.79% 12/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29654 | &nbsp;&nbsp; 26070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHL Mortgage Pass Through Trust Series 2007-4 1A1 6.00% 5/25/37 ♦ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649085 | &nbsp;&nbsp; 284750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust Series 2024-1 A11 144A 5.69% (SOFR + 1.35%, Cap 8.00%) 7/25/54 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3197288 | &nbsp;&nbsp; 3204968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COLT Mortgage Loan Trust Series 2024-3 A1 144A 6.393% 6/25/69 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;2554383 | &nbsp;&nbsp; 2581642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Series 2025-R01 1M2 144A 5.836% (SOFR + 1.50%) 1/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp; 676002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R01 1M2 144A 6.24% (SOFR + 1.90%) 12/25/41 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp; 1512882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R02 2M2 144A 7.34% (SOFR + 3.00%) 1/25/42 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 917909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R04 1M1 144A 5.44% (SOFR + 1.10%) 5/25/44 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3199972 | &nbsp;&nbsp; 3194027 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R02 1M2 144A 5.936% (SOFR + 1.60%) 2/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1620000 | $1616178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cross Mortgage Trust Series 2024-H3 A1 144A 6.272% 6/25/69 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;3518668 | &nbsp;&nbsp; 3556248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSMC Mortgage-Backed<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-1 5A14 6.00% 2/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136168 | &nbsp;&nbsp; 75377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3 4A12 2.315% (6.64% minus TSFR01M, Cap 6.75%) 4/25/37 Σ, =, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59723 | &nbsp;&nbsp; 7757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3 4A15 5.50% 4/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26519 | &nbsp;&nbsp; 21522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3 4A6 4.685% (TSFR01M + 0.36%, Cap 7.00%, Floor 0.25%) 4/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59723 | &nbsp;&nbsp; 45750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSMC Trust Series 2005-1R 2A5 144A 5.75% 12/26/35 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460663 | &nbsp;&nbsp; 270726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Franklin Mortgage Loan Trust Series 2006-FF5 2A3 4.755% (TSFR01M + 0.43%, Floor 0.32%) 4/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470478 | &nbsp;&nbsp; 459622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flagstar Mortgage Trust Series 2021-2 A6 144A 2.50% 4/25/51 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692509 | &nbsp;&nbsp; 611886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GCAT Trust Series 2024-NQM2 A1 144A 6.085% 6/25/59 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;3291505 | &nbsp;&nbsp; 3311578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GMACM Mortgage Loan Trust Series 2006-J1 A1 5.75% 4/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12309 | &nbsp;&nbsp; 10887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage-Backed<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ4 A8 144A 2.50% 9/25/51 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1766649 | &nbsp;&nbsp; 1567397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ7 A2 144A 2.50% 1/25/52 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1996852 | &nbsp;&nbsp; 1628994 |

---

&nbsp;&nbsp;&nbsp;&nbsp;25

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GSR Mortgage Loan Trust Series 2007-AR1 2A1 4.517% 3/25/47 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336939 | $199739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Alternative Loan Trust Series 2007-A2 11A1 4.795% (TSFR01M + 0.47%, Cap 11.50%, Floor 0.36%) 6/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;2622983 | &nbsp;&nbsp; 1344050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-A6 2A4L 5.774% 10/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138920 | &nbsp;&nbsp;&nbsp; 111219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-A7 2A2 4.557% 1/25/37 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24972 | &nbsp;&nbsp; 19089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-A1 6A1 5.686% 7/25/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20468 | &nbsp;&nbsp; 19806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-2 B1 144A 3.404% 6/25/29 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21186 | &nbsp;&nbsp; 20378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-2 B2 144A 3.404% 6/25/29 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21186 | &nbsp;&nbsp; 20307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4 B1 144A 3.516% 6/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333393 | &nbsp;&nbsp; 311258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4 B2 144A 3.516% 6/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142492 | &nbsp;&nbsp; 132285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4 B1 144A 3.786% 10/25/46 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145270 | &nbsp;&nbsp; 137258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4 B2 144A 3.786% 10/25/46 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265053 | &nbsp;&nbsp; 250160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1 B3 144A 3.447% 1/25/47 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729629 | &nbsp;&nbsp; 653829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2 A3 144A 3.50% 5/25/47 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42228 | &nbsp;&nbsp; 38253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 A3 144A 3.50% 7/25/50 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118051 | &nbsp;&nbsp; 104916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-7 A3 144A 3.00% 1/25/51 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389656 | &nbsp;&nbsp; 336022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1 A3 144A 2.50% 6/25/51 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624849 | &nbsp;&nbsp; 510521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-10 A3 144A 2.50% 12/25/51 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1328383 | &nbsp;&nbsp; 1085297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13 B1 144A 3.139% 4/25/52 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1840851 | &nbsp;&nbsp; 1547553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-5 B2 144A 5.866% 5/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112216 | &nbsp;&nbsp; 110945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-6 B1 144A 3.504% 10/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125092 | &nbsp;&nbsp; 120096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-6 B2 144A 3.504% 10/25/45 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121711 | &nbsp;&nbsp; 116293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lehman Mortgage Trust Series 2007-10 2A2 6.50% 1/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;1141746 | &nbsp;&nbsp; 316475 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ludgate Funding |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-1X A2A 4.789% (SONIA + 0.32%) 12/1/60 ■, • | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651103 | $828590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-W1X A1 5.199% (SONIA + 0.72%) 1/1/61 ■, • | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267773 | &nbsp;&nbsp; 343239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mansard Mortgages Series 2007-1X A2 4.859% (SONIA + 0.30%) 4/15/47 ■, • | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316256 | &nbsp;&nbsp; 403241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MASTR Alternative Loan<br> Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-3 8A1 7.00% 4/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp; 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-5 6A1 7.00% 6/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp; 7659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MASTR ARM Trust Series 2004-4 4A1 6.221% 5/25/34 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19540 | &nbsp;&nbsp; 18875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust Series 2004-A1 2A2 6.501% 2/25/34 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp; 976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mill City Mortgage Loan Trust Series 2019-1 A1 144A 3.25% 10/25/69 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;3531804 | &nbsp;&nbsp; 3425609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley<br> Residential Mortgage Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 A2A 144A 2.50% 12/25/50 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638701 | &nbsp;&nbsp; 529016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1 A2 144A 2.50% 3/25/51 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573043 | &nbsp;&nbsp;&nbsp; 469111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4 A3 144A 2.50% 7/25/51 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640884 | &nbsp;&nbsp; 524199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Residential<br> Mortgage Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-RPL1 A1 144A 3.50% 12/25/57 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87716 | &nbsp;&nbsp; 84607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-RPL3 A1 144A 2.75% 7/25/59 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1973090 | &nbsp;&nbsp; 1889170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OBX Trust Series 2024-NQM8 A1 144A 6.233% 5/25/64 #, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;2607681 | &nbsp;&nbsp; 2638794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRKCM Series 2024-AFC1 A1 144A 6.333% 3/25/59 #, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734843 | &nbsp;&nbsp; 739945 |

---

26&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRPM Series 2024-RPL1 A1 144A 4.20% 12/25/64 #, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;2871666 | $2807151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RAAC Trust Series 2005-SP2 2A 5.035% (TSFR01M + 0.71%, Cap 14.00%, Floor 0.60%) 6/25/44 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121479 | &nbsp;&nbsp; 110090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radnor Re Series 2024-1 M1B 144A 7.24% (SOFR + 2.90%, Floor 2.90%) 9/25/34 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233000 | &nbsp;&nbsp; 234999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RALI Series Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-QA5 2A1 6.202% 9/25/37 • |  | &nbsp;&nbsp;&nbsp;&nbsp;1739825 | &nbsp;&nbsp; 1152250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-QH8 A 5.544% 10/25/37 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991608 | &nbsp;&nbsp; 796519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RCKT Mortgage Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1 A1 144A 2.50% 3/25/51 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622053 | &nbsp;&nbsp; 506650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6 A1 144A 2.50% 12/25/51 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;1360336 | &nbsp;&nbsp; 1110620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reperforming Loan REMIC Trust Series 2006-R1 AF1 144A 4.775% (TSFR01M + 0.45%, Cap 9.50%, Floor 0.34%) 1/25/36 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282285 | &nbsp;&nbsp; 265218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-5 A3 5.271% (TSFR06M + 0.99%, Cap 11.50%, Floor 0.56%) 6/20/34 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40171 | &nbsp;&nbsp; 37237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-1 4A1 3.575% 9/20/46 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167069 | &nbsp;&nbsp;&nbsp; 111804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-1 B2 144A 3.937% 1/25/45 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83635 | &nbsp;&nbsp; 81176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-5 B2 144A 3.786% 8/25/47 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;2471405 | &nbsp;&nbsp; 2307065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 A2 144A 2.50% 11/25/50 #, • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516778 | &nbsp;&nbsp; 422844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stratton Mortgage Funding Series 2024-2A A 144A 5.38% (SONIA + 0.90%) 6/28/50 #, • | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810082 | &nbsp;&nbsp; 1048832 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Structured ARM Loan Trust Series 2006-1 7A4 4.08% 2/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28974 | $24687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Structured Asset Mortgage Investments II Trust Series 2005-AR5 A2 4.931% (TSFR01M + 0.61%, Cap 11.00%, Floor 0.50%) 7/19/35 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41436 | &nbsp;&nbsp; 40959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Towd Point Mortgage<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4 M1 144A 3.25% 6/25/57 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp; 557366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1 A1 144A 3.00% 1/25/58 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55515 | &nbsp;&nbsp; 54638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4 A1 144A 2.90% 10/25/59 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3697451 | &nbsp;&nbsp; 3524891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5 A1A 144A 4.492% 10/25/64 #, • | &nbsp;&nbsp;&nbsp;&nbsp;3759652 | &nbsp;&nbsp; 3777278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-7 A1 144A 7.07% 10/25/68 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;4235179 | &nbsp;&nbsp; 4315997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4 A1 144A 6.218% 6/25/69 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;3314073 | &nbsp;&nbsp; 3354116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WaMu Mortgage Pass<br> Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-AR16 1A3 4.72% 12/25/35 ♦, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125273 | &nbsp;&nbsp; 114548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-HY1 3A3 4.091% 2/25/37 ♦, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89678 | &nbsp;&nbsp; 76263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-HY7 4A1 5.043% 7/25/37 ♦, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192034 | &nbsp;&nbsp; 171348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-AR11 A6 7.021% 8/25/36 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81542 | &nbsp;&nbsp; 74042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 A1 144A 3.00% 12/25/49 #, • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114064 | &nbsp;&nbsp; 98911 |
| &nbsp;&nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations<br> (cost $87,673,566)** | &nbsp;&nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations<br> (cost $87,673,566)** | &nbsp;&nbsp; **81576490** |

---

&nbsp;&nbsp;&nbsp;&nbsp;27

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 4.44%** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 4.44%** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 4.44%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AG Trust Series 2024-NLP A 144A 6.335% (TSFR01M + 2.02%, Floor 2.02%) 7/15/41 #, • | &nbsp;&nbsp;&nbsp;&nbsp;1900663 | $1900717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK5 B 3.896% 6/15/60 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp; 580791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK7 A5 3.435% 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;1120000 | &nbsp;&nbsp; 1085183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-BN20 A3 3.011% 9/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp; 7335366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-BN21 A5 2.851% 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp; 1910857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-BN29 A4 1.997% 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;5880000 | &nbsp;&nbsp; 4956707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BNK39 B 3.238% 2/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;1353000 | &nbsp;&nbsp; 1151538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BNK39 C 3.269% 2/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797000 | &nbsp;&nbsp; 655550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BNK40 B 3.393% 3/15/64 • | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1552866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-BNK47 A5 5.716% 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp; 3661265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Mortgage<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B17 A5 2.289% 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;3460000 | &nbsp;&nbsp; 3047561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B19 A5 1.85% 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp; 2562284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B20 A5 2.034% 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;5250000 | &nbsp;&nbsp; 4463194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B21 A5 1.978% 12/17/53 | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp; 1106359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B22 A5 1.973% 1/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp; 5605734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-B24 A5 2.584% 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;6790000 | &nbsp;&nbsp; 5870008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B32 B 3.202% 1/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1461494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B32 C 3.454% 1/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp; 1735702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B33 B 3.614% 3/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 756931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B33 C 3.614% 3/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 727196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B34 A5 3.786% 4/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;2950000 | &nbsp;&nbsp; 2684030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B35 A5 4.443% 5/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;2925000 | &nbsp;&nbsp; 2798481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BMO Mortgage Trust Series 2022-C1 A5 3.374% 2/15/55 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 538893 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cantor Commercial Real<br> Estate Lending |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CF1 A5 3.786% 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;2340000 | $2220941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CF2 A5 2.874% 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 3644694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CF3 A4 3.006% 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp; 729430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-CD6 B 3.911% 11/13/50 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp; 411120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CD8 A4 2.912% 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;4575000 | &nbsp;&nbsp; 4175694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Series 2016-C7 A3 3.838% 12/10/54 | &nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp; 3031095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Commercial<br> Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P3 A4 3.329% 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;1305000 | &nbsp;&nbsp; 1278096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C4 A4 3.471% 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp; 615088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-CR28 A4 3.762% 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;2330000 | &nbsp;&nbsp; 2311616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-HCLV A 144A 5.615% (TSFR01M + 1.30%, Floor 1.00%) 9/15/33 #, • | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp; 2681639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DB-JPM Mortgage Trust Series 2016-C1 A4 3.276% 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 882429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage Securities<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS5 A4 3.674% 3/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;1280000 | &nbsp;&nbsp; 1242976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS6 A3 3.433% 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;1935000 | &nbsp;&nbsp; 1869745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-GC39 A4 3.567% 5/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp; 1174444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-GC42 A4 3.00% 9/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp; 4575056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-GC47 A5 2.377% 5/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;3716000 | &nbsp;&nbsp; 3297738 |

---

28&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton USA Trust Series 2016-SFP A 144A 2.828% 11/5/35 # | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | $2050678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPM-BB Commercial Mortgage Securities Trust Series 2015-C31 A3 3.801% 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;6912223 | &nbsp;&nbsp; 6866092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPM-DB Commercial<br> Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C2 A4 3.144% 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;1640000 | &nbsp;&nbsp; 1593346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C4 A3 3.141% 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;1065000 | &nbsp;&nbsp; 1029373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C7 A5 3.409% 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;2395000 | &nbsp;&nbsp; 2302074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase<br> Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-LC11 B 3.499% 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100796 | &nbsp;&nbsp; 94463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-JP2 AS 3.056% 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp; 1188044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Bank of<br> America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C26 A5 3.531% 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp; 952856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C27 ASB 3.557% 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Capital I<br> Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-150E A 144A 3.912% 9/9/32 # | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp; 3320294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-L3 A4 3.127% 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 932620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-HR8 A4 2.041% 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;4415000 | &nbsp;&nbsp; 3836330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo Commercial<br> Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-NXS3 A4 3.617% 9/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp; 506252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK1 A3 2.652% 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;1220000 | &nbsp;&nbsp; 1178591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-C58 A4 2.092% 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp; 1978165 |
| &nbsp;&nbsp;&nbsp;**Total Non-Agency Commercial Mortgage-Backed Securities<br> (cost $129,131,979)** | &nbsp;&nbsp;&nbsp;**Total Non-Agency Commercial Mortgage-Backed Securities<br> (cost $129,131,979)** | &nbsp;&nbsp; **120120113** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements — 1.92%** | &nbsp;&nbsp;**Loan Agreements — 1.92%** | &nbsp;&nbsp;**Loan Agreements — 1.92%** |
| &nbsp;&nbsp;Basic Industry — 0.03% | &nbsp;&nbsp;Basic Industry — 0.03% | &nbsp;&nbsp;Basic Industry — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A-Ap Buyer 7.075% (SOFR01M + 2.75%) 9/9/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917700 | $918847 |
|  |  | &nbsp;&nbsp; 918847 |
| &nbsp;&nbsp;Capital Goods — 0.08% | &nbsp;&nbsp;Capital Goods — 0.08% | &nbsp;&nbsp;Capital Goods — 0.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berry Global Tranche AA 6.186% (SOFR01M + 1.86%) 7/1/29 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356121 | &nbsp;&nbsp; 356426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Industries 6.069% (SOFR01M + 1.75%) 9/22/28 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345950 | &nbsp;&nbsp; 346136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunSource Borrower 8.425% (SOFR01M + 4.10%) 3/25/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1519650 | &nbsp;&nbsp; 1461713 |
|  |  | &nbsp;&nbsp; 2164275 |
| &nbsp;&nbsp;Communications — 0.21% | &nbsp;&nbsp;Communications — 0.21% | &nbsp;&nbsp;Communications — 0.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications<br> Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche B-4 6.298% (SOFR03M + 2.00%) 12/7/30 • | &nbsp;&nbsp;&nbsp;&nbsp;1826875 | &nbsp;&nbsp; 1820138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche B5 6.548% (SOFR03M + 2.25%) 12/15/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465832 | &nbsp;&nbsp; 464813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications Holdings Tranche B 6.792% (SOFR06M + 2.50%) 7/1/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1987936 | &nbsp;&nbsp; 1999118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcontinent Communications 6.819% (SOFR01M + 2.50%) 8/16/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1218875 | &nbsp;&nbsp; 1219890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virgin Media Bristol Tranche Y 7.724% (SOFR03M + 3.28%) 3/31/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp; 207400 |
|  |  | &nbsp;&nbsp; 5711359 |
| &nbsp;&nbsp;Consumer Cyclical — 0.57% | &nbsp;&nbsp;Consumer Cyclical — 0.57% | &nbsp;&nbsp;Consumer Cyclical — 0.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flutter Entertainment Tranche B 6.049% (SOFR03M + 1.75%) 11/30/30 • | &nbsp;&nbsp;&nbsp;&nbsp;1517317 | &nbsp;&nbsp; 1514472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Worldwide Finance Tranche B4 6.070% (SOFR01M + 1.75%) 11/8/30 • | &nbsp;&nbsp;&nbsp;&nbsp;1088891 | &nbsp;&nbsp; 1088040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IRB Holding Tranche B 6.825% (SOFR01M + 2.50%) 12/15/27 • | &nbsp;&nbsp;&nbsp;&nbsp;3480480 | &nbsp;&nbsp; 3461173 |

---

&nbsp;&nbsp;&nbsp;&nbsp;29

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marriott Ownership Resorts 6.575% (SOFR01M + 2.25%) 4/1/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1885750 | $1887125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peer Holding III Tranche B5 6.799% (SOFR03M + 2.50%) 7/1/31 • | &nbsp;&nbsp;&nbsp;&nbsp;3336637 | &nbsp;&nbsp; 3337332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scientific Games International Tranche B-2 6.566% (SOFR01M + 2.25%) 4/14/29 • | &nbsp;&nbsp;&nbsp;&nbsp;1860283 | &nbsp;&nbsp; 1852145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Cap Buyer Tranche C 7.575% (SOFR01M + 3.25%) 10/19/29 • | &nbsp;&nbsp;&nbsp;&nbsp;2294250 | &nbsp;&nbsp; 2229151 |
|  |  | &nbsp;&nbsp; 15369438 |
| &nbsp;&nbsp;Consumer Non-Cyclical — 0.20% | &nbsp;&nbsp;Consumer Non-Cyclical — 0.20% | &nbsp;&nbsp;Consumer Non-Cyclical — 0.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentra Health Services Tranche B-1 6.325% (SOFR01M + 2.00%) 7/26/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1536150 | &nbsp;&nbsp; 1543831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita Tranche B-1 6.325% (SOFR01M + 2.00%) 5/9/31 • | &nbsp;&nbsp;&nbsp;&nbsp;2333275 | &nbsp;&nbsp; 2332983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransUnion Intermediate Holdings Tranche B-8 6.075% (SOFR01M + 1.75%) 6/24/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1473862 | &nbsp;&nbsp; 1471329 |
|  |  | &nbsp;&nbsp; 5348143 |
| &nbsp;&nbsp;Finance Companies — 0.12% | &nbsp;&nbsp;Finance Companies — 0.12% | &nbsp;&nbsp;Finance Companies — 0.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dragon Buyer 7.299% (SOFR03M + 3.00%) 9/30/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1386525 | &nbsp;&nbsp; 1378899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Finance 7.319% (SOFR01M + 3.00%) 10/21/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683288 | &nbsp;&nbsp; 682434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June Purchaser 7.467% (SOFR06M + 3.25%) 11/28/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1182857 | &nbsp;&nbsp; 1185445 |
|  |  | &nbsp;&nbsp; 3246778 |
| &nbsp;&nbsp;Industrials — 0.19% | &nbsp;&nbsp;Industrials — 0.19% | &nbsp;&nbsp;Industrials — 0.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alliance Laundry Systems Tranche B 7.072% (SOFR03M + 2.75%) 8/19/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | &nbsp;&nbsp; 983030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azorra Soar TLB Finance 7.799% (SOFR03M + 3.50%) 10/18/29 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661675 | &nbsp;&nbsp; 666637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicor Tranche D 7.049% (SOFR03M + 2.75%) 11/22/29 • | &nbsp;&nbsp;&nbsp;&nbsp;1895250 | &nbsp;&nbsp; 1888617 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stonepeak Nile Parent TBD 2/3/32 X | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | $1496016 |
|  |  | &nbsp;&nbsp; 5034300 |
| &nbsp;&nbsp;Insurance — 0.13% | &nbsp;&nbsp;Insurance — 0.13% | &nbsp;&nbsp;Insurance — 0.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ardonagh Group Finco 7.049% - 8.039% (SOFR03M + 3.75%) 2/17/31 • | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp; 2765000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USI 6.549% (SOFR03M + 2.25%) 9/27/30 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694478 | &nbsp;&nbsp; 688141 |
|  |  | &nbsp;&nbsp; 3453141 |
| &nbsp;&nbsp;Technology — 0.30% | &nbsp;&nbsp;Technology — 0.30% | &nbsp;&nbsp;Technology — 0.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Holdings 6.575% (SOFR01M + 2.25%) 9/29/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1835400 | &nbsp;&nbsp; 1784066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cotiviti TBD 3/29/32 X | &nbsp;&nbsp;&nbsp;&nbsp;1990000 | &nbsp;&nbsp; 1958906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entegris Tranche B 6.049% (SOFR03M + 1.75%) 7/6/29 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603292 | &nbsp;&nbsp; 603251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Epicor Software Tranche F 7.075% (SOFR01M + 2.75%) 5/30/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860416 | &nbsp;&nbsp; 859341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Icon Parent I 7.315% (SOFR02M + 3.00%) 11/13/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1010000 | &nbsp;&nbsp; 1002804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Informatica Tranche B 6.575% (SOFR01M + 2.25%) 10/27/28 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615950 | &nbsp;&nbsp; 618901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UKG Tranche B 7.300% (SOFR03M + 3.00%) 2/10/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1293077 | &nbsp;&nbsp; 1292605 |
|  |  | &nbsp;&nbsp; 8119874 |
| &nbsp;&nbsp;Transportation — 0.01% | &nbsp;&nbsp;Transportation — 0.01% | &nbsp;&nbsp;Transportation — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delta Air Lines 8.043% (SOFR03M + 3.75%) 10/20/27 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168644 | &nbsp;&nbsp; 170225 |
|  |  | &nbsp;&nbsp; 170225 |
| &nbsp;&nbsp;Utilities — 0.08% | &nbsp;&nbsp;Utilities — 0.08% | &nbsp;&nbsp;Utilities — 0.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calpine |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.075% (SOFR01M + 1.75%) 2/15/32 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181177 | &nbsp;&nbsp; 180771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche B-10 6.075% (SOFR01M + 1.75%) 1/31/31 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237557 | &nbsp;&nbsp; 236894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lightning Power Tranche B 6.549% (SOFR03M + 2.25%) 8/18/31 • | &nbsp;&nbsp;&nbsp;&nbsp;1337639 | &nbsp;&nbsp; 1332146 |

---

30&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra Operations 6.075% (SOFR01M + 1.75%) 12/20/30 • |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497982 | $497155 |
|  |  |  | &nbsp;&nbsp; 2246966 |
| &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $51,933,006)** | &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $51,933,006)** | &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $51,933,006)** | &nbsp;&nbsp; **51783346** |
| &nbsp;&nbsp;**Sovereign Bonds — 3.62%Δ** | &nbsp;&nbsp;**Sovereign Bonds — 3.62%Δ** | &nbsp;&nbsp;**Sovereign Bonds — 3.62%Δ** | &nbsp;&nbsp;**Sovereign Bonds — 3.62%Δ** |
| &nbsp;&nbsp;Albania — 0.01% | &nbsp;&nbsp;Albania — 0.01% | &nbsp;&nbsp;Albania — 0.01% | &nbsp;&nbsp;Albania — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albania Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.50% 6/16/27 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp; 161209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 2/14/35 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp; 156812 |
|  |  |  | &nbsp;&nbsp; 318021 |
| &nbsp;&nbsp;Angola — 0.01% | &nbsp;&nbsp;Angola — 0.01% | &nbsp;&nbsp;Angola — 0.01% | &nbsp;&nbsp;Angola — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angolan Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25% 5/9/28 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 186643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.75% 4/14/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 172370 |
|  |  |  | &nbsp;&nbsp; 359013 |
| &nbsp;&nbsp;Argentina — 0.02% | &nbsp;&nbsp;Argentina — 0.02% | &nbsp;&nbsp;Argentina — 0.02% | &nbsp;&nbsp;Argentina — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Argentine Republic Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75% 7/9/30 ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264000 | &nbsp;&nbsp; 193380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00% 7/9/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28650 | &nbsp;&nbsp; 22275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 7/9/35 ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461150 | &nbsp;&nbsp; 289292 |
|  |  |  | &nbsp;&nbsp; 504947 |
| &nbsp;&nbsp;Armenia — 0.01% | &nbsp;&nbsp;Armenia — 0.01% | &nbsp;&nbsp;Armenia — 0.01% | &nbsp;&nbsp;Armenia — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic of Armenia International Bond<br> 3.60% 2/2/31 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp; 373703 |
|  |  |  | &nbsp;&nbsp; 373703 |
| &nbsp;&nbsp;Bahrain — 0.01% | &nbsp;&nbsp;Bahrain — 0.01% | &nbsp;&nbsp;Bahrain — 0.01% | &nbsp;&nbsp;Bahrain — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bahrain Government International Bond<br> 144A 7.375% 5/14/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 313873 |
|  |  |  | &nbsp;&nbsp; 313873 |
| &nbsp;&nbsp;Benin — 0.01% | &nbsp;&nbsp;Benin — 0.01% | &nbsp;&nbsp;Benin — 0.01% | &nbsp;&nbsp;Benin — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benin Government International Bond<br> 144A 7.96% 2/13/38 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 187225 |
|  |  |  | &nbsp;&nbsp; 187225 |
| &nbsp;&nbsp;Bermuda — 0.02% | &nbsp;&nbsp;Bermuda — 0.02% | &nbsp;&nbsp;Bermuda — 0.02% | &nbsp;&nbsp;Bermuda — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 7/15/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 394200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 7/15/32 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp; 251302 |
|  |  |  | &nbsp;&nbsp; 645502 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;Brazil — 0.95% | &nbsp;&nbsp;Brazil — 0.95% | &nbsp;&nbsp;Brazil — 0.95% | &nbsp;&nbsp;Brazil — 0.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil Letras do Tesouro<br> Nacional |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.753% 7/1/25 ^ | BRL | 85000000 | $14420891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.496% 10/1/25 ^ | BRL | 57830000 | &nbsp;&nbsp; 9456927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazilian Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 1/14/50 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp; 360702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 10/20/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 194995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125% 5/13/54 |  | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1150200 |
|  |  |  | &nbsp;&nbsp; 25583715 |
| &nbsp;&nbsp;Canada — 1.13% | &nbsp;&nbsp;Canada — 1.13% | &nbsp;&nbsp;Canada — 1.13% | &nbsp;&nbsp;Canada — 1.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CPPIB Capital<br> 4.30% 6/2/34 ■ | CAD | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp; 2945054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Province of British Columbia Canada<br> 4.15% 6/18/34 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp; 2686688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Province of Ontario Canada<br> 3.65% 6/2/33 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp; 3959440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Province of Quebec<br> Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60% 9/1/33 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;9800000 | &nbsp;&nbsp; 6883869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45% 9/1/34 | CAD | 19000000 | &nbsp;&nbsp; 14100309 |
|  |  |  | &nbsp;&nbsp; 30575360 |
| &nbsp;&nbsp;Chile — 0.01% | &nbsp;&nbsp;Chile — 0.01% | &nbsp;&nbsp;Chile — 0.01% | &nbsp;&nbsp;Chile — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10% 5/7/41 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323000 | &nbsp;&nbsp; 237954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 1/25/50 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 141770 |
|  |  |  | &nbsp;&nbsp; 379724 |
| &nbsp;&nbsp;Colombia — 0.02% | &nbsp;&nbsp;Colombia — 0.02% | &nbsp;&nbsp;Colombia — 0.02% | &nbsp;&nbsp;Colombia — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 6/15/45 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 134850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20% 5/15/49 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496000 | &nbsp;&nbsp; 331457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75% 11/14/53 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 199128 |
|  |  |  | &nbsp;&nbsp; 665435 |
| &nbsp;&nbsp;Dominican Republic — 0.03% | &nbsp;&nbsp;Dominican Republic — 0.03% | &nbsp;&nbsp;Dominican Republic — 0.03% | &nbsp;&nbsp;Dominican Republic — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominican Republic<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.875% 9/23/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp; 455100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30% 1/21/41 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231000 | &nbsp;&nbsp; 194883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.95% 3/15/37 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 252750 |
|  |  |  | &nbsp;&nbsp; 902733 |
| &nbsp;&nbsp;Ecuador — 0.01% | &nbsp;&nbsp;Ecuador — 0.01% | &nbsp;&nbsp;Ecuador — 0.01% | &nbsp;&nbsp;Ecuador — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ecuador Government International Bond<br> 6.90% 7/31/30 ■, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp; 208704 |
|  |  |  | &nbsp;&nbsp; 208704 |

---

&nbsp;&nbsp;&nbsp;&nbsp;31

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;Egypt — 0.02% | &nbsp;&nbsp;Egypt — 0.02% | &nbsp;&nbsp;Egypt — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Egypt Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80% 9/30/27 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211000 | $197878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.70% 3/1/49 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359000 | &nbsp;&nbsp; 275599 |
|  |  | &nbsp;&nbsp; 473477 |
| &nbsp;&nbsp;Ghana — 0.00% | &nbsp;&nbsp;Ghana — 0.00% | &nbsp;&nbsp;Ghana — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ghana Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.854% 7/3/26 #, ^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5520 | &nbsp;&nbsp; 5192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 7/3/29 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55660 | &nbsp;&nbsp; 48691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 7/3/35 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80040 | &nbsp;&nbsp; 57064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.586% 1/3/30 #, ^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11542 | &nbsp;&nbsp; 8906 |
|  |  | &nbsp;&nbsp; 119853 |
| &nbsp;&nbsp;Guatemala — 0.01% | &nbsp;&nbsp;Guatemala — 0.01% | &nbsp;&nbsp;Guatemala — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guatemala Government Bond<br> 144A 6.55% 2/6/37 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 199202 |
|  |  | &nbsp;&nbsp; 199202 |
| &nbsp;&nbsp;Honduras — 0.01% | &nbsp;&nbsp;Honduras — 0.01% | &nbsp;&nbsp;Honduras — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Honduras Government International Bond<br> 144A 8.625% 11/27/34 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 198550 |
|  |  | &nbsp;&nbsp; 198550 |
| &nbsp;&nbsp;Hungary — 0.01% | &nbsp;&nbsp;Hungary — 0.01% | &nbsp;&nbsp;Hungary — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MFB Magyar Fejlesztesi Bank<br> 6.50% 6/29/28 ■ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp; 221865 |
|  |  | &nbsp;&nbsp; 221865 |
| &nbsp;&nbsp;Israel — 0.10% | &nbsp;&nbsp;Israel — 0.10% | &nbsp;&nbsp;Israel — 0.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375% 3/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1412449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375% 2/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp; 1209635 |
|  |  | &nbsp;&nbsp; 2622084 |
| &nbsp;&nbsp;Italy — 0.25% | &nbsp;&nbsp;Italy — 0.25% | &nbsp;&nbsp;Italy — 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cassa Depositi e Prestiti<br> 144A 5.875% 4/30/29 # | &nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp; 6860491 |
|  |  | &nbsp;&nbsp; 6860491 |
| &nbsp;&nbsp;Ivory Coast — 0.02% | &nbsp;&nbsp;Ivory Coast — 0.02% | &nbsp;&nbsp;Ivory Coast — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ivory Coast Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 6/15/33 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp; 383410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.075% 4/1/36 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 191956 |
|  |  | &nbsp;&nbsp; 575366 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;Japan — 0.42% | &nbsp;&nbsp;Japan — 0.42% | &nbsp;&nbsp;Japan — 0.42% | &nbsp;&nbsp;Japan — 0.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Government Forty Year Bond<br> 2.20% 3/20/64 | JPY | 722000000 | $4283251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Government Thirty Year Bond<br> 2.30% 12/20/54 | JPY | 470000000 | &nbsp;&nbsp; 3017797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Government Twenty Year Bond<br> 2.00% 12/20/44 | JPY | 610000000 | &nbsp;&nbsp; 3939569 |
|  |  |  | &nbsp;&nbsp; 11240617 |
| &nbsp;&nbsp;Jordan — 0.01% | &nbsp;&nbsp;Jordan — 0.01% | &nbsp;&nbsp;Jordan — 0.01% | &nbsp;&nbsp;Jordan — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jordan Government International Bond<br> 144A 4.95% 7/7/25 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 199249 |
|  |  |  | &nbsp;&nbsp; 199249 |
| &nbsp;&nbsp;Mexico — 0.05% | &nbsp;&nbsp;Mexico — 0.05% | &nbsp;&nbsp;Mexico — 0.05% | &nbsp;&nbsp;Mexico — 0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.338% 5/4/53 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp; 382813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 5/13/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 923040 |
|  |  |  | &nbsp;&nbsp; 1305853 |
| &nbsp;&nbsp;Montenegro — 0.01% | &nbsp;&nbsp;Montenegro — 0.01% | &nbsp;&nbsp;Montenegro — 0.01% | &nbsp;&nbsp;Montenegro — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montenegro Government International Bond<br> 144A 4.875% 4/1/32 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp; 148441 |
|  |  |  | &nbsp;&nbsp; 148441 |
| &nbsp;&nbsp;Nigeria — 0.02% | &nbsp;&nbsp;Nigeria — 0.02% | &nbsp;&nbsp;Nigeria — 0.02% | &nbsp;&nbsp;Nigeria — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nigeria Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.375% 9/28/33 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp; 270785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 2/16/32 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337000 | &nbsp;&nbsp; 300254 |
|  |  |  | &nbsp;&nbsp; 571039 |
| &nbsp;&nbsp;Oman — 0.01% | &nbsp;&nbsp;Oman — 0.01% | &nbsp;&nbsp;Oman — 0.01% | &nbsp;&nbsp;Oman — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oman Government International Bond<br> 144A 6.75% 1/17/48 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343000 | &nbsp;&nbsp; 355064 |
|  |  |  | &nbsp;&nbsp; 355064 |
| &nbsp;&nbsp;Paraguay — 0.02% | &nbsp;&nbsp;Paraguay — 0.02% | &nbsp;&nbsp;Paraguay — 0.02% | &nbsp;&nbsp;Paraguay — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paraguay Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.40% 3/30/50 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403000 | &nbsp;&nbsp; 347003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40% 3/30/50 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 189431 |
|  |  |  | &nbsp;&nbsp; 536434 |
| &nbsp;&nbsp;Peru — 0.01% | &nbsp;&nbsp;Peru — 0.01% | &nbsp;&nbsp;Peru — 0.01% | &nbsp;&nbsp;Peru — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peruvian Government International Bond<br> 2.844% 6/20/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312000 | &nbsp;&nbsp; 281536 |
|  |  |  | &nbsp;&nbsp; 281536 |

---

32&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;Poland — 0.03% | &nbsp;&nbsp;Poland — 0.03% | &nbsp;&nbsp;Poland — 0.03% | &nbsp;&nbsp;Poland — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Gospodarstwa<br> Krajowego |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 5/22/33 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | $249970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 7/9/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 204054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic of Poland<br> Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875% 2/12/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 202039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 4/4/53 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203000 | &nbsp;&nbsp; 191455 |
|  |  |  | &nbsp;&nbsp; 847518 |
| &nbsp;&nbsp;Qatar — 0.01% | &nbsp;&nbsp;Qatar — 0.01% | &nbsp;&nbsp;Qatar — 0.01% | &nbsp;&nbsp;Qatar — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qatar Government International Bond<br> 144A 4.40% 4/16/50 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411000 | &nbsp;&nbsp; 353178 |
|  |  |  | &nbsp;&nbsp; 353178 |
| &nbsp;&nbsp;Republic of North Macedonia — 0.01% | &nbsp;&nbsp;Republic of North Macedonia — 0.01% | &nbsp;&nbsp;Republic of North Macedonia — 0.01% | &nbsp;&nbsp;Republic of North Macedonia — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Macedonia Government International Bond<br> 144A 3.675% 6/3/26 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp; 161948 |
|  |  |  | &nbsp;&nbsp; 161948 |
| &nbsp;&nbsp;Romania — 0.07% | &nbsp;&nbsp;Romania — 0.07% | &nbsp;&nbsp;Romania — 0.07% | &nbsp;&nbsp;Romania — 0.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Romanian Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.75% 7/13/30 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1629088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.625% 12/2/40 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123000 | &nbsp;&nbsp; 80534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.375% 1/28/50 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109000 | &nbsp;&nbsp; 70713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125% 1/17/33 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176000 | &nbsp;&nbsp; 179969 |
|  |  |  | &nbsp;&nbsp; 1960304 |
| &nbsp;&nbsp;Saudi Arabia — 0.05% | &nbsp;&nbsp;Saudi Arabia — 0.05% | &nbsp;&nbsp;Saudi Arabia — 0.05% | &nbsp;&nbsp;Saudi Arabia — 0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 10/26/46 ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp; 370125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 1/13/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 922770 |
|  |  |  | &nbsp;&nbsp; 1292895 |
| &nbsp;&nbsp;Serbia — 0.03% | &nbsp;&nbsp;Serbia — 0.03% | &nbsp;&nbsp;Serbia — 0.03% | &nbsp;&nbsp;Serbia — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Serbia International<br> Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.00% 9/23/28 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 194421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.125% 5/15/27 # | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 106790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 6/12/34 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 397246 |
|  |  |  | &nbsp;&nbsp; 698457 |
| &nbsp;&nbsp;South Africa — 0.13% | &nbsp;&nbsp;South Africa — 0.13% | &nbsp;&nbsp;South Africa — 0.13% | &nbsp;&nbsp;South Africa — 0.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic of South Africa<br> Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85% 9/30/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp; 3017376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65% 9/27/47 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 148033 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;South Africa (continued) | &nbsp;&nbsp;South Africa (continued) | &nbsp;&nbsp;South Africa (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic of South Africa<br> Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875% 6/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268000 | $260670 |
|  |  | &nbsp;&nbsp; 3426079 |
| &nbsp;&nbsp;South Korea — 0.02% | &nbsp;&nbsp;South Korea — 0.02% | &nbsp;&nbsp;South Korea — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Export-Import Bank of Korea<br> 5.125% 1/11/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 205057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea Development Bank<br> 4.875% 2/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 203764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea Hydro & Nuclear Power<br> 144A 5.00% 7/18/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp; 264242 |
|  |  | &nbsp;&nbsp; 673063 |
| &nbsp;&nbsp;Sri Lanka — 0.01% | &nbsp;&nbsp;Sri Lanka — 0.01% | &nbsp;&nbsp;Sri Lanka — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sri Lanka Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.10% 1/15/30 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26208 | &nbsp;&nbsp; 23293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.35% 3/15/33 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51407 | &nbsp;&nbsp; 40612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.60% 6/15/35 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34712 | &nbsp;&nbsp; 23691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.60% 5/15/36 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24091 | &nbsp;&nbsp; 18881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.60% 2/15/38 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48202 | &nbsp;&nbsp; 38139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.00% 4/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31201 | &nbsp;&nbsp; 29407 |
|  |  | &nbsp;&nbsp; 174023 |
| &nbsp;&nbsp;Türkiye — 0.04% | &nbsp;&nbsp;Türkiye — 0.04% | &nbsp;&nbsp;Türkiye — 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hazine Mustesarligi Varlik Kiralama<br> 144A 6.50% 4/26/30 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 198251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.625% 4/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 309002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.125% 7/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 218333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkiye Ihracat Kredi Bankasi<br> 144A 5.75% 7/6/26 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp; 347540 |
|  |  | &nbsp;&nbsp; 1073126 |
| &nbsp;&nbsp;Ukraine — 0.01% | &nbsp;&nbsp;Ukraine — 0.01% | &nbsp;&nbsp;Ukraine — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ukraine Government<br> International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 0.00% 2/1/30 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13261 | &nbsp;&nbsp; 6884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 0.00% 2/1/34 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49556 | &nbsp;&nbsp; 19653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 0.00% 2/1/35 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41878 | &nbsp;&nbsp; 23182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 0.00% 2/1/36 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34899 | &nbsp;&nbsp; 19967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.75% 2/1/34 #, ~ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109247 | &nbsp;&nbsp; 58485 |

---

&nbsp;&nbsp;&nbsp;&nbsp;33

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** | &nbsp;&nbsp;**Sovereign Bonds Δ(continued)** |
| &nbsp;&nbsp;Ukraine (continued) | &nbsp;&nbsp;Ukraine (continued) | &nbsp;&nbsp;Ukraine (continued) | &nbsp;&nbsp;Ukraine (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ukraine Government<br> International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.75% 2/1/35 #, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84970 | $44681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 1.75% 2/1/36 #, ~ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48554 | &nbsp;&nbsp; 25368 |
|  |  |  | &nbsp;&nbsp; 198220 |
| &nbsp;&nbsp;Venezuela — 0.00% | &nbsp;&nbsp;Venezuela — 0.00% | &nbsp;&nbsp;Venezuela — 0.00% | &nbsp;&nbsp;Venezuela — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venezuela Government International Bond<br> 7.75% 10/13/19 ‡, ■ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp; 61744 |
|  |  |  | &nbsp;&nbsp; 61744 |
| &nbsp;&nbsp;&nbsp;**Total Sovereign Bonds<br> (cost $98,113,921)** | &nbsp;&nbsp;&nbsp;**Total Sovereign Bonds<br> (cost $98,113,921)** | &nbsp;&nbsp;&nbsp;**Total Sovereign Bonds<br> (cost $98,113,921)** | &nbsp;&nbsp; **97847631** |
| &nbsp;&nbsp;**Supranational Banks — 0.45%** | &nbsp;&nbsp;**Supranational Banks — 0.45%** | &nbsp;&nbsp;**Supranational Banks — 0.45%** | &nbsp;&nbsp;**Supranational Banks — 0.45%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Africa Finance 144A 5.55% 10/8/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp; 339018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;African Development Bank 5.75% 5/7/34 μ, ψ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp; 506401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central American Bank for Economic Integration 144A 4.75% 1/24/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 202178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corp Andina de Fomento 5.00% 1/24/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 204139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European Union 2.875% 10/5/29 ■ | EUR | &nbsp;&nbsp;&nbsp;&nbsp;9900000 | &nbsp;&nbsp; 10834974 |
| &nbsp;&nbsp;&nbsp;**Total Supranational Banks<br> (cost $11,892,302)** | &nbsp;&nbsp;&nbsp;**Total Supranational Banks<br> (cost $11,892,302)** | &nbsp;&nbsp;&nbsp;**Total Supranational Banks<br> (cost $11,892,302)** | &nbsp;&nbsp; **12086710** |
| &nbsp;&nbsp;**US Treasury Obligations — 17.04%** | &nbsp;&nbsp;**US Treasury Obligations — 17.04%** | &nbsp;&nbsp;**US Treasury Obligations — 17.04%** | &nbsp;&nbsp;**US Treasury Obligations — 17.04%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375% 11/15/40 ∞ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 65031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625% 11/15/50 |  | 13500000 | &nbsp;&nbsp; 7352227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75% 8/15/41 |  | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp; 1220625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875% 2/15/41 |  | 52800000 | &nbsp;&nbsp; 37065188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875% 2/15/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp; 1566264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875% 11/15/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;5100000 | &nbsp;&nbsp; 2934990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% 2/15/50 |  | 16000000 | &nbsp;&nbsp; 9686250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25% 8/15/46 |  | 13695000 | &nbsp;&nbsp; 9214703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25% 8/15/49 ∞ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 548516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25% 2/15/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp; 1640844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 2/15/45 |  | 37100000 | &nbsp;&nbsp; 26759098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75% 8/15/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 702984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75% 11/15/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp; 1089430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875% 5/15/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp; 1733402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875% 8/15/45 |  | 16700000 | &nbsp;&nbsp; 12795396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 5/15/47 ∞ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp; 691734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 8/15/48 ∞ |  | &nbsp;&nbsp;&nbsp;&nbsp;3770000 | &nbsp;&nbsp; 2863875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 2/15/49 ∞ |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp; 529525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.125% 5/15/48 |  | &nbsp;&nbsp;&nbsp;&nbsp;1490000 | &nbsp;&nbsp; 1160250 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**US Treasury Obligations (continued)** | &nbsp;&nbsp;**US Treasury Obligations (continued)** | &nbsp;&nbsp;**US Treasury Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625% 5/15/53 | 24300000 | $20476072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;3510000 | &nbsp;&nbsp; 3213775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;7590000 | &nbsp;&nbsp; 7113253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp; 892287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;9285000 | &nbsp;&nbsp; 9151528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% 11/15/44 | 30665000 | &nbsp;&nbsp; 30712914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 2/15/45 | 15475000 | &nbsp;&nbsp; 15760320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Inflation<br> Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.125% 4/15/25 ∞ | 38371320 | &nbsp;&nbsp; 38408939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.375% 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267914 | &nbsp;&nbsp; 268389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625% 7/15/32 | 35752545 | &nbsp;&nbsp; 33389863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.125% 1/15/33 | 19729325 | &nbsp;&nbsp; 18908881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75% 1/15/34 ∞ | &nbsp;&nbsp;&nbsp;&nbsp;7234080 | &nbsp;&nbsp; 7224250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875% 7/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;3847082 | &nbsp;&nbsp; 3884118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% 10/31/27 ∞ | 13200000 | &nbsp;&nbsp;&nbsp; 12111257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75% 8/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp; 408799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;5190000 | &nbsp;&nbsp; 5059845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 3/31/30 | 20800000 | &nbsp;&nbsp; 20843062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 2/15/34 ∞ | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp; 986602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 2/15/28 | 48020000 | &nbsp;&nbsp; 48498322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 11/15/34 | 16500000 | &nbsp;&nbsp; 16551563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6705000 | &nbsp;&nbsp; 6775324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 12/31/31 | 27015000 | &nbsp;&nbsp; 27697761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% 9/30/28 | 11165000 | &nbsp;&nbsp; 11426243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury STRIP Principal<br> 2.774% 5/15/44 ^ | &nbsp;&nbsp;&nbsp;&nbsp;2940000 | &nbsp;&nbsp; 1212410 |
| &nbsp;&nbsp;&nbsp;**Total US Treasury Obligations<br> (cost $475,815,573)** | &nbsp;&nbsp;&nbsp;**Total US Treasury Obligations<br> (cost $475,815,573)** | &nbsp;&nbsp; **460596109** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** |  |
| &nbsp;&nbsp;**Common Stocks — 0.04%** | &nbsp;&nbsp;**Common Stocks — 0.04%** | &nbsp;&nbsp;**Common Stocks — 0.04%** |
| &nbsp;&nbsp;Financials — 0.00% | &nbsp;&nbsp;Financials — 0.00% | &nbsp;&nbsp;Financials — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MNSN Holdings =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11003 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11003 |
| &nbsp;&nbsp;Industrials — 0.04% | &nbsp;&nbsp;Industrials — 0.04% | &nbsp;&nbsp;Industrials — 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aeromexico =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001845 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $476,500)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $476,500)** | **1012848** |

---

34&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Preferred Stock — 0.05%** | &nbsp;&nbsp;**Preferred Stock — 0.05%** | &nbsp;&nbsp;**Preferred Stock — 0.05%** |
| &nbsp;&nbsp;Financial Services — 0.05% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SVB Financial Trust 11/07/32 † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953 | $1446970 |
| &nbsp;&nbsp;&nbsp;**Total Preferred Stock<br> (cost $1,496,277)** | &nbsp;&nbsp;&nbsp;**Total Preferred Stock<br> (cost $1,496,277)** | &nbsp;&nbsp; **1446970** |

---

---

| | | |
|:---|:---|:---|
|  | **Notional<br> amount<sup>\*</sup>** |  |
| &nbsp;&nbsp;**Options Purchased — 0.01%** | &nbsp;&nbsp;**Options Purchased — 0.01%** | &nbsp;&nbsp;**Options Purchased — 0.01%** |
| &nbsp;&nbsp;Call Swaptions — 0.01% | &nbsp;&nbsp;Call Swaptions — 0.01% | &nbsp;&nbsp;Call Swaptions — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 yr IRS pay a fixed rate 3.75% and receive a floating rate based on<br> 12-month USD-ICE SOFR expiration date 10/30/25 (DB) | 83800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325942 |
| &nbsp;&nbsp;&nbsp;**Total Options Purchased<br> (premium paid $449,168)** | &nbsp;&nbsp;&nbsp;**Total Options Purchased<br> (premium paid $449,168)** | **325942** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** |  |
| &nbsp;&nbsp;**Short-Term Investments — 18.74%** | &nbsp;&nbsp;**Short-Term Investments — 18.74%** | &nbsp;&nbsp;**Short-Term Investments — 18.74%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 2.05% | &nbsp;&nbsp;Money Market Mutual Funds — 2.05% | &nbsp;&nbsp;Money Market Mutual Funds — 2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | 13870330 | &nbsp;&nbsp;&nbsp;&nbsp;13870330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 13870330 | &nbsp;&nbsp;&nbsp;&nbsp;13870330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | 13870330 | &nbsp;&nbsp;&nbsp;&nbsp;13870330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | 13870330 | &nbsp;&nbsp;&nbsp;&nbsp;13870330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;55481320 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;Repurchase Agreements — 16.69% | &nbsp;&nbsp;Repurchase Agreements — 16.69% | &nbsp;&nbsp;Repurchase Agreements — 16.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury repurchase agreement with<br> BNP Paribas 4.37%, dated 3/31/25, to be repurchased 4/2/25, repurchase price $100,012<br> (collateralized by US government obligations; 3.50%; market value $102,060) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | $100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury repurchase agreement with<br> BNP Paribas 4.44%, dated 3/31/25, to be repurchased 4/1/25, repurchase price $149,918,488<br> (collateralized by US government obligations; 0.375%; market value $152,803,835) | 149900000 | &nbsp;&nbsp; 149900000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury repurchase agreement with<br> JPMorgan Securities 4.41%, dated 3/31/25, to be repurchased 4/2/25, repurchase price $133,316,329<br> (collateralized by US government obligations; 0.125%; market value $135,847,770) | 133300000 | &nbsp;&nbsp; 133300000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;35

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;Repurchase Agreements (continued) | &nbsp;&nbsp;Repurchase Agreements (continued) | &nbsp;&nbsp;Repurchase Agreements (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury repurchase agreement with<br> JPMorgan Securities 5.39%, dated 7/26/24, to be repurchased 7/26/26, repurchase price $186,000,613<br> (collateralized by US government obligations; 1.875% - 2.25%; market value $177,226,879) | 167764853 | $167764853 |
|  |  | &nbsp;&nbsp; 451064853 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $506,546,173)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $506,546,173)** | &nbsp;&nbsp; **506546173** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Options Written—131.67%<br> (cost $3,638,478,413)** | &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Options Written—131.67%<br> (cost $3,638,478,413)** | &nbsp;&nbsp;**3559494215** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> contracts** |  |
| &nbsp;&nbsp;**Options Written — (0.01%)** | &nbsp;&nbsp;**Options Written — (0.01%)** | &nbsp;&nbsp;**Options Written — (0.01%)** |
| &nbsp;&nbsp;Futures Call Options — (0.00%) | &nbsp;&nbsp;Futures Call Options — (0.00%) | &nbsp;&nbsp;Futures Call Options — (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $112, expiration date 4/25/25, notional amount ($212800000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $112.25, expiration date 4/25/25, notional amount ($235725000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7875) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $112.5, expiration date 4/25/25, notional amount ($472500000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13125) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29609) |
| &nbsp;&nbsp;Futures Put Options — (0.00%) | &nbsp;&nbsp;Futures Put Options — (0.00%) | &nbsp;&nbsp;Futures Put Options — (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $109, expiration date 4/25/25, notional amount ($207100000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1781) |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> contracts** | **Value (US $)** |
| &nbsp;&nbsp;**Options Written (continued)** | &nbsp;&nbsp;**Options Written (continued)** | &nbsp;&nbsp;**Options Written (continued)** |
| &nbsp;&nbsp;Futures Put Options (continued) | &nbsp;&nbsp;Futures Put Options (continued) | &nbsp;&nbsp;Futures Put Options (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $109.5, expiration date 4/25/25, notional amount ($229950000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) | $(3281) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury 10 yr Notes, strike price $110, expiration date 4/25/25, notional amount ($462000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) | &nbsp;&nbsp; (11157) |
|  |  | &nbsp;&nbsp; (16219) |

---

---

| | | |
|:---|:---|:---|
|  | **Notional<br> amount\*** |  |
| &nbsp;&nbsp;Call Swaptions — (0.01%) | &nbsp;&nbsp;Call Swaptions — (0.01%) | &nbsp;&nbsp;Call Swaptions — (0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 yr IRS pay a fixed rate 2.83% and receive a floating rate based on<br> 12-month USD-ICE SOFR expiration date 10/30/25 (DB) | (83800000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89982) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 yr IRS pay a fixed rate 3.29% and receive a floating rate based on<br> 12-month USD-ICE SOFR expiration date 10/30/25 (DB) | (83800000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171482) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 yr IRS pay a fixed rate 2.35% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/25/25 (CITI) | (2700000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8208) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 yr IRS pay a fixed rate 2.40% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/07/25 (BNP) | &nbsp;&nbsp;&nbsp;&nbsp;(500000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1083) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 2.52% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/07/25 (MS) | &nbsp;&nbsp;&nbsp;&nbsp;(300000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162) |

---

36&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Notional<br> amount\*** | **Value (US $)** |
| &nbsp;&nbsp;Call Swaptions (continued) | &nbsp;&nbsp;Call Swaptions (continued) | &nbsp;&nbsp;Call Swaptions (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.535% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/10/25 (GS) | (1100000) | $(688) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.60% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/30/25 (GS) | (1100000) | &nbsp;&nbsp; (5047) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.695% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/17/25 (GS) | (1000000) | &nbsp;&nbsp; (4808) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.71% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/14/25 (MS) | (1000000) | &nbsp;&nbsp; (4598) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.713% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/28/25 (GS) | (1800000) | &nbsp;&nbsp; (13447) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.723% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/14/25 (GS) | (2300000) | &nbsp;&nbsp; (11556) |
|  |  | &nbsp;&nbsp; (311061) |
| &nbsp;&nbsp;Put Swaptions — (0.00%) | &nbsp;&nbsp;Put Swaptions — (0.00%) | &nbsp;&nbsp;Put Swaptions — (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 yr IRS pay a fixed rate 2.65% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/25/25 (CITI) | (2700000) | &nbsp;&nbsp; (1921) |

---

---

| | | |
|:---|:---|:---|
|  | **Notional<br> amount\*** | **Value (US $)** |
| &nbsp;&nbsp;Put Swaptions (continued) | &nbsp;&nbsp;Put Swaptions (continued) | &nbsp;&nbsp;Put Swaptions (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 yr IRS pay a fixed rate 2.75% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/07/25 (BNP) | &nbsp;&nbsp;&nbsp;&nbsp;(500000) | $(1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDX.NA.IG.44.V1 5yr strike price $1.00, expiration date<br> 7/16/25 (JPMCB) | (1300000) | &nbsp;&nbsp; (1152) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 2.89% and receive a floating rate based on<br> 1-month EURIBOR expiration date<br> 4/07/25 (MS) | &nbsp;&nbsp;&nbsp;&nbsp;(300000) | &nbsp;&nbsp; (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.95% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/30/25 (GS) | (1100000) | &nbsp;&nbsp; (4053) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 3.985% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/10/25 (GS) | (1100000) | &nbsp;&nbsp; (634) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 4.045% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/17/25 (GS) | (1000000) | &nbsp;&nbsp; (809) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 4.06% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/14/25 (MS) | (1000000) | &nbsp;&nbsp; (466) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 4.063% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/28/25 (GS) | (1800000) | &nbsp;&nbsp; (2968) |

---

&nbsp;&nbsp;&nbsp;&nbsp;37

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | |
|:---|:---|:---|
|  | **Notional<br> amount\*** | **Value (US $)** |
| &nbsp;&nbsp;Put Swaptions (continued) | &nbsp;&nbsp;Put Swaptions (continued) | &nbsp;&nbsp;Put Swaptions (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr IRS pay a fixed rate 4.073% and receive a floating rate based on<br> 1-month USD-ICE SOFR expiration date 4/14/25 (GS) | (2300000) | $(922) |
|  |  | &nbsp;&nbsp; (12949) |
| &nbsp;&nbsp;&nbsp;**Total Options Written<br> (premium received $584,764)** | &nbsp;&nbsp;&nbsp;**Total Options Written<br> (premium received $584,764)** | **$(369838)** |

---

---

| | |
|:---|:---|
| ° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| ∞ | Fully or partially pledged as collateral for futures and swap contracts. |
| Δ | Securities have been classified by country of risk. |
| X | This loan will settle after March 31, 2025, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected. |
| ~ | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Stated rate in effect at March 31, 2025. |
| >> | PIK. 100% of the income received was in the form of principal. |
| <<< | PIK. 84.62% of the income received was in cash and 15.38% was in principal. |
| ‡ | Non-income producing security. Security is currently in default. |
| ψ | Perpetual security. Maturity date represents next call date. |
| ■ | Regulation S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933, as amended. |
| μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at March 31, 2025. Rate will reset at a future date. |
| ^^ | Represents a security with a settlement after March 31, 2025, at which time the interest rate will be reflected. |

---

---

| | |
|:---|:---|
| ≠ | The rate shown is the effective yield at the time of purchase. |
| ♦ | Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes. |
| # | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At March 31, 2025, the aggregate value of Rule 144A securities was $520,489,881, which represents 19.25% of the Fund's net assets. See Note 10 in "Notes to financial statements." |
| = | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in "Notes to financial statements." |
| Σ | Interest only security. An interest only security is the interest only portion of a fixed income security, which is separated and sold individually from the principal portion of the security. |
| ^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| Ω | Principal only security. A principal only security is the principal only portion of a fixed income security which is separated and sold individually from the interest portion of the security. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at March 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| † | Non-income producing security. |
| \* | Notional amount shown is stated in USD unless noted that the swap is denominated in another currency. |

---

#### Unfunded Loan Commitments
The Fund may invest in floating rate loans. In connection with these investments, the Fund may also enter into unfunded corporate loan commitments (commitments). Commitments may obligate the Fund to furnish temporary financing to a borrower until permanent financing can be arranged. In connection with these commitments, the Fund earns a commitment fee, typically set as a percentage of the commitment amount. The following unfunded loan commitment was outstanding at March 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Borrower | Principal<br> Amount | Value | Commitment | Unrealized<br> Appreciation<br> (Depreciation) |
| June Purchaser TBD 3.25% 11/28/31 X | $197143 | $197574 | $197143 | $431 |

---

38&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

The following forward foreign currency exchange contracts, futures contracts, and swap contracts were outstanding at March 31, 2025:<sup>1</sup>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |  |  |  |
| Counterparty | Currency to<br> Receive (Deliver) | Currency to<br> Receive (Deliver) | In Exchange For | In Exchange For | Settlement<br> Date | Unrealized<br> Appreciation | Unrealized<br> Depreciation |
| BAML | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(355000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;401037 | &nbsp;&nbsp;4/2/25 | $— | $(324) |
| BAML | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5623000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;774897 | 6/18/25 | &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;(8826) |
| BAML | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991000 | USD | &nbsp;&nbsp;(1078380) | &nbsp;&nbsp;4/2/25 | &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;(6700) |
| BAML | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461000 | USD | &nbsp;&nbsp;(1874874) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | INR | &nbsp;&nbsp;&nbsp;&nbsp;102698673 | USD | &nbsp;&nbsp;(1197722) | &nbsp;&nbsp;5/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | JPY | &nbsp;&nbsp;&nbsp;&nbsp;205500000 | USD | &nbsp;&nbsp;(1369424) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | KRW | &nbsp;&nbsp;&nbsp;&nbsp;(301008216) | USD | &nbsp;&nbsp;&nbsp;&nbsp;205252 | &nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25564230) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17849 | &nbsp;&nbsp;6/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | KRW | &nbsp;&nbsp;&nbsp;&nbsp;299875225 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(205252) | 6/18/25 | &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;(958) |
| BAML | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(387271) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11879 | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BAML | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14524901) | USD | &nbsp;&nbsp;&nbsp;&nbsp;794465 | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5930486 | USD | &nbsp;&nbsp;(1032610) | &nbsp;&nbsp;5/5/25 | &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;(180) |
| BNP | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85000000) | USD | &nbsp;&nbsp;14221181 | &nbsp;&nbsp;7/2/25 | &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;(374860) |
| BNP | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45549092) | USD | &nbsp;&nbsp;&nbsp;7406506 | 10/2/25 | &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;(224557) |
| BNP | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19019) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13323 | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7012644) | USD | &nbsp;&nbsp;&nbsp;7950449 | &nbsp;&nbsp;5/2/25 | &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;(6560) |
| BNP | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71191000) | USD | &nbsp;&nbsp;&nbsp;9873887 | 6/18/25 | &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;(48572) |
| BNP | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7247000) | USD | &nbsp;&nbsp;&nbsp;1011034 | 8/20/25 | &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;(1539) |
| BNP | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70917000) | USD | &nbsp;&nbsp;74362006 | &nbsp;&nbsp;4/2/25 | &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;(2328547) |
| BNP | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5944000) | USD | &nbsp;&nbsp;&nbsp;7513882 | &nbsp;&nbsp;4/2/25 | &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;(164243) |
| BNP | IDR | &nbsp;&nbsp;&nbsp;1042891157 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63319) | 4/23/25 | &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;(785) |
| BNP | IDR | &nbsp;&nbsp;(3221035070) | USD | &nbsp;&nbsp;&nbsp;&nbsp;193824 | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | IDR | (26657182549) | USD | &nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;5/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34847302) | USD | &nbsp;&nbsp;&nbsp;&nbsp;407676 | &nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79585984 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(927677) | 4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86090268 | USD | &nbsp;&nbsp;(1002278) | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | JPY | &nbsp;&nbsp;&nbsp;&nbsp;384759008 | USD | &nbsp;&nbsp;(2569795) | &nbsp;&nbsp;4/2/25 | &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;(3999) |
| BNP | JPY | &nbsp;&nbsp;&nbsp;&nbsp;(199794422) | USD | &nbsp;&nbsp;&nbsp;1333653 | &nbsp;&nbsp;5/2/25 | &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;(3197) |
| BNP | KRW | &nbsp;&nbsp;&nbsp;&nbsp;289719318 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(200000) | 4/21/25 | &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;(3234) |
| BNP | KRW | &nbsp;&nbsp;&nbsp;&nbsp;876438972 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(600000) | 4/28/25 | &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;(4535) |
| BNP | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21725277 | USD | &nbsp;&nbsp;(5615508) | &nbsp;&nbsp;6/6/25 | &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;(20384) |
| BNP | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106588) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80093 | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133200) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99574 | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6532884) | USD | &nbsp;&nbsp;&nbsp;&nbsp;197939 | &nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13174920) | USD | &nbsp;&nbsp;&nbsp;&nbsp;400000 | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | TWD | &nbsp;&nbsp;&nbsp;&nbsp;105023853 | USD | &nbsp;&nbsp;(3198920) | 4/25/25 | &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;(35566) |
| BNP | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42578826) | USD | &nbsp;&nbsp;&nbsp;1308355 | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71001123) | USD | &nbsp;&nbsp;&nbsp;2176464 | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14627118) | USD | &nbsp;&nbsp;&nbsp;&nbsp;801489 | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | BRL | &nbsp;&nbsp;&nbsp;&nbsp;118299666 | USD | (19959663) | &nbsp;&nbsp;7/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58576833 | USD | (41122829) | &nbsp;&nbsp;4/2/25 | &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;(413682) |
| CITI | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58491458) | USD | &nbsp;&nbsp;41122828 | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(177000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;201312 | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3696000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;510037 | 6/18/25 | &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;(5104) |
| CITI | IDR | &nbsp;&nbsp;40766398886 | USD | &nbsp;&nbsp;(2492215) | 4/23/25 | &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;(47778) |
| CITI | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4419894) | USD | &nbsp;&nbsp;&nbsp;1212584 | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14064605 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(161066) | 4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | JPY | &nbsp;&nbsp;(1126100000) | USD | &nbsp;&nbsp;&nbsp;7599123 | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | KRW | &nbsp;&nbsp;&nbsp;&nbsp;577259320 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(400000) | &nbsp;&nbsp;4/7/25 | &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;(8239) |

---

&nbsp;&nbsp;&nbsp;&nbsp;39

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Schedules of investments
Optimum Fixed Income 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** |  |  |  |
| Counterparty | Currency to<br> Receive (Deliver) | Currency to<br> Receive (Deliver) | In Exchange For | In Exchange For | Settlement<br> Date | Unrealized<br> Appreciation | Unrealized<br> Depreciation |
| CITI | KRW | &nbsp;&nbsp;&nbsp;&nbsp;571885575 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(397141) | 6/18/25 | $— | $(7537) |
| CITI | TRY | &nbsp;&nbsp;&nbsp;&nbsp;(25444036) | USD | &nbsp;&nbsp;&nbsp;&nbsp;631101 | 5/15/25 | &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;(480) |
| CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6537338 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(200000) | &nbsp;&nbsp;4/7/25 | &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;(3374) |
| CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13067851 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(396801) | 4/14/25 | &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;(3536) |
| CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;(190439242) | USD | &nbsp;&nbsp;&nbsp;5827394 | 4/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;(27425940) | USD | &nbsp;&nbsp;&nbsp;&nbsp;843045 | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;(95558672) | USD | &nbsp;&nbsp;&nbsp;2925939 | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;108635760 | USD | &nbsp;&nbsp;(5901333) | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6161776) | USD | &nbsp;&nbsp;&nbsp;3885890 | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | CAD | &nbsp;&nbsp;&nbsp;&nbsp;(58893444) | USD | &nbsp;&nbsp;40942133 | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6487135) | USD | &nbsp;&nbsp;&nbsp;7237952 | &nbsp;&nbsp;4/2/25 | &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;(96373) |
| DB | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4461576) | USD | &nbsp;&nbsp;&nbsp;1226803 | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | KRW | (17179411792) | USD | &nbsp;&nbsp;11964326 | &nbsp;&nbsp;6/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4196799) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934 | 6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| DB | KRW | &nbsp;&nbsp;&nbsp;&nbsp;217116410 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(149741) | 6/18/25 | &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;(1827) |
| DB | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106641 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79642) | &nbsp;&nbsp;4/2/25 | &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;(261) |
| DB | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106486) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79642 | &nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GS | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2700000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;449813 | 10/2/25 | &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;(2532) |
| GS | IDR | &nbsp;&nbsp;(3426438944) | USD | &nbsp;&nbsp;&nbsp;&nbsp;206176 | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GS | KRW | &nbsp;&nbsp;&nbsp;&nbsp;(276142419) | USD | &nbsp;&nbsp;&nbsp;&nbsp;188022 | &nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GS | KRW | &nbsp;&nbsp;&nbsp;&nbsp;(182070177) | USD | &nbsp;&nbsp;&nbsp;&nbsp;124185 | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GS | KRW | &nbsp;&nbsp;&nbsp;&nbsp;456548150 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(312207) | 6/18/25 | &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;(1177) |
| GS | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2042143) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50847 | 4/24/25 | &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;(1199) |
| GS | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45778) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131 | 5/15/25 | &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;(5) |
| JPMCB | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9600000) | USD | &nbsp;&nbsp;&nbsp;1484001 | 10/2/25 | &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;(124334) |
| JPMCB | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297526 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(206529) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15584 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17340) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69926000 | USD | (75425676) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1083952) | USD | &nbsp;&nbsp;&nbsp;1128213 | &nbsp;&nbsp;4/4/25 | &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;(44109) |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083952 | USD | &nbsp;&nbsp;(1165026) | &nbsp;&nbsp;4/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;(67954000) | USD | &nbsp;&nbsp;73414376 | &nbsp;&nbsp;5/2/25 | &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;(191833) |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137984) | USD | &nbsp;&nbsp;&nbsp;&nbsp;(149144) | &nbsp;&nbsp;5/8/25 | &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;(370) |
| JPMCB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(912965) | USD | &nbsp;&nbsp;&nbsp;&nbsp;(990373) | 6/27/25 | &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;(1776) |
| JPMCB | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4483000) | USD | &nbsp;&nbsp;&nbsp;5785585 | &nbsp;&nbsp;5/2/25 | &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;(4941) |
| JPMCB | IDR | &nbsp;&nbsp;(3313980000) | USD | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | IDR | &nbsp;&nbsp;88201287177 | USD | &nbsp;&nbsp;(5366021) | 4/23/25 | &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;(77292) |
| JPMCB | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5529399) | USD | &nbsp;&nbsp;&nbsp;1517733 | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34844040 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(400000) | &nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52533900 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(600000) | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17356840 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(200000) | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13587512 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(155708) | 4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | JPY | &nbsp;&nbsp;&nbsp;&nbsp;536044356 | USD | &nbsp;&nbsp;(3571927) | &nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | JPY | &nbsp;&nbsp;&nbsp;&nbsp;(989944939) | USD | &nbsp;&nbsp;&nbsp;6592553 | &nbsp;&nbsp;5/2/25 | &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;(31293) |
| JPMCB | KRW | &nbsp;&nbsp;&nbsp;&nbsp;581652000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(400000) | 4/14/25 | &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;(5111) |
| JPMCB | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203506 | USD | &nbsp;&nbsp;(1083893) | &nbsp;&nbsp;6/6/25 | &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;(1323) |
| JPMCB | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150930 | USD | &nbsp;&nbsp;(1845049) | 6/13/25 | &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;(3914) |
| JPMCB | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14996) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3895 | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8095124) | USD | &nbsp;&nbsp;&nbsp;&nbsp;201346 | 4/24/25 | &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;(4967) |
| JPMCB | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20080346 | USD | &nbsp;&nbsp;&nbsp;&nbsp;(451802) | &nbsp;&nbsp;5/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | TRY | &nbsp;&nbsp;&nbsp;&nbsp;333640709 | USD | &nbsp;&nbsp;(8522221) | 5/15/25 | &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;(240470) |
| JPMCB | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6562600) | USD | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

40&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |  |  |  |
| Counterparty | Currency to<br> Receive (Deliver) | Currency to<br> Receive (Deliver) | In Exchange For | In Exchange For | Settlement<br> Date | Unrealized<br> Appreciation | Unrealized<br> Depreciation |
| JPMCB | TWD | &nbsp;&nbsp;&nbsp;85398868 | USD | (2596365) | 4/25/25 | $— | $(24122) |
| JPMCB | TWD | &nbsp;&nbsp;(27021902) | USD | &nbsp;&nbsp;&nbsp;&nbsp;829911 | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMCB | TWD | (113209191) | USD | &nbsp;&nbsp;3472027 | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| TD | EUR | &nbsp;&nbsp;&nbsp;(4728330) | USD | &nbsp;&nbsp;4901569 | 5/16/25 | &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;(224257) |
| Total Forward Foreign Currency Exchange Contracts | Total Forward Foreign Currency Exchange Contracts | Total Forward Foreign Currency Exchange Contracts | Total Forward Foreign Currency Exchange Contracts | Total Forward Foreign Currency Exchange Contracts | Total Forward Foreign Currency Exchange Contracts | $1804574 | $(4810782) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** |
| Contracts to<br> Buy (Sell) | Contracts to<br> Buy (Sell) | Notional<br> Amount | Notional<br> Cost<br> (Proceeds) | Expiration<br> Date | Value/<br> Unrealized<br> Appreciation | Value/<br> Unrealized<br> Depreciation | Variation<br> Margin<br> Due from<br> (Due to)<br> Brokers |
| 169 | 3 Month SOFR | &nbsp;&nbsp;$40427969 | $40555989 | &nbsp;&nbsp;6/17/25 | $— | $(128020) | $— |
| 169 | 3 Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40526200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40691191 | &nbsp;&nbsp;9/16/25 | &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;(164991) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 169 | 3 Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40640275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40775691 | 12/16/25 | &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;(135416) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 169 | 3 Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40718437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40826391 | &nbsp;&nbsp;3/17/26 | &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;(107954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 169 | 3 Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40769138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40858079 | &nbsp;&nbsp;6/16/26 | &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;(88941) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 169 | 3 Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40794488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40874979 | &nbsp;&nbsp;9/15/26 | &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;(80491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 166 | Canadian Treasury 10 yr Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14321184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14107087 | &nbsp;&nbsp;6/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214097 | &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;1227 |
| (163) | Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20760711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20924477) | &nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163766 | &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;3592 |
| (120) | Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16716466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17069515) | &nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353049 | &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;7113 |
| (50) | Euro-Schatz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5782522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5781800) | &nbsp;&nbsp;&nbsp;6/6/25 | &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;(722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 |
| (17) | Japanese Treasury 10 yr Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15686379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15578531) | &nbsp;&nbsp;6/13/25 | &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;(107848) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 24 | Long 10 yr Gilt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2870061 | &nbsp;&nbsp;6/26/25 | &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;(27488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(647) |
| 158 | US Treasury 2 yr Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32733156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32543911 | &nbsp;&nbsp;6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189245 | &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;— |
| 2219 | US Treasury 5 yr Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239998719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237018850 | &nbsp;&nbsp;6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979869 | &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;— |
| (779) | US Treasury 10 yr Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86639406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86092553) | &nbsp;&nbsp;6/18/25 | &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;(546853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 246 | US Treasury 10 yr Ultra Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28074750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28054610 | &nbsp;&nbsp;6/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20140 | &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;— |
| 774 | US Treasury Long Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90775687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89899263 | &nbsp;&nbsp;6/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876424 | &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;— |
| 158 | US Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19315500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19174483 | &nbsp;&nbsp;6/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141017 | &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;— |
| Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $522803709 |  | $4937607 | $(1388724) | $11744 |

---

&nbsp;&nbsp;&nbsp;&nbsp;41

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

#### Swap Contracts

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> | CDS Contracts<sup>2</sup> |
| Counterparty/<br> Reference Obligation/<br> Termination Date/<br> Payment Frequency | Notional<br> Amount<sup>3</sup> | Annual Protection<br> Payments | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared:** |  |  |  |  |  |  |  |
| **Protection Sold/Moody's Ratings:** |  |  |  |  |  |  |  |
| Boeing 2.60%<br> 10/30/25 Baa2<br> 6/26/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700000 | 1.000% | $5324 | $(1262) | $6586 | $— | $(89) |
| Boeing 7.25%<br> 6/15/25 Baa3<br> 12/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4100000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7910) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45546 | &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;(745) |
| British Telecom 2.70%<br> 10/9/22 Baa1<br> 12/20/28-Quarterly | EUR 1,600,000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44633) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79737 | &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;(1327) |
| CDX.ITRX.EUR.43<sup>4</sup> 6/20/30-Quarterly | &nbsp;&nbsp;&nbsp;EUR 100,000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1869) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181 | &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;(4050) | &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;87 |
| CDX.NA.HY.43.V1<sup>5</sup> 12/20/29-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 20400000 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247270 | &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;(124315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19649) |
| CDX.NA.IG.35<sup>6</sup> 12/20/25-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073 | &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;(13) |
| CDX.NA.IG.36<sup>6</sup> 6/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7135 | &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;(151) |
| CDX.NA.IG.37<sup>6</sup> 12/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &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;(21) |
| CDX.NA.IG.43<sup>6</sup> 12/20/29-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29142 | &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;(4057) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7963) |
| CDX.NA.IG.44<sup>6</sup> 6/20/30-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9161 | &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;(32) | &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;7198 |
| General Electric 2.70% 10/9/22 Baa1<br> 6/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5438 | &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;(47) |
| General Electric 2.70% 10/9/22 Baa1<br> 12/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14137 | &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;(164) |
| General Motors 4.875% 10/2/23 Baa2<br> 12/20/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240000 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047 | &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;(151) |
| General Motors 4.875% 10/2/23 Baa2<br> 6/20/28-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275000 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14372 | &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;(239) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1291360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23274) |
| **Over-The-Counter:** |  |  |  |  |  |  |  |
| **Protection Purchased/Moody's Ratings:** |  |  |  |  |  |  |  |
| JPMCB Mexico 10.375% 1/28/33 Baa2<br> 6/22/26-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2085000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12186) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817 | &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;(16003) | &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;— |

---

42&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty/<br> Reference Obligation/<br> Termination Date/<br> Payment Frequency | Notional<br> Amount<sup>3</sup> | Annual Protection<br> Payments | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Over-The-Counter<br> (continued):** |  |  |  |  |  |  |  |
| **Protection Purchased/Moody's Ratings (continued):** |  |  |  |  |  |  |  |
| JPMCB Republic of Brazil 1.00% 12/20/29 Ba2 12/20/29 - Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428000 | 1.000% | $12741 | $12116 | $625 | $— | $— |
| JPMCB Republic of South Africa 1.00% 9/20/28 Ba2 6/20/28 - Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15812 | &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;(9160) | &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;7207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25163) | &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;— |
| **Protection Sold/Moody's Ratings:** |  |  |  |  |  |  |  |
| CITI Israel 2.875% 3/16/26 A2<br> 6/20/27-Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200000 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7369) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28276 | &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;— |
| DB CMBX.NA.AAA<sup>7</sup> 10/17/57-Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274024 | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14973 | &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;— |
| JPMCB HOCHTIEF 1.00% 3/7/25 BBB<br> 12/20/26-Quarterly | EUR 1,100,000 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101605 | &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;(3289) | &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;— |
| JPMCB HOCHTIEF 5.00% 3/7/25 BBB<br> 12/20/26-Quarterly | EUR 1,100,000 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100899 | &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;(2583) | &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;— |
|  |  |  | $217564 | $180187 | $43249 | $(5872) | $— |
|  |  |  | $224771 | $211932 | $43874 | $(31035) | $— |
| Total CDS Contracts | Total CDS Contracts | Total CDS Contracts | $1562252 | $1503292 | $222449 | $(163489) | $(23274) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| IRS Contracts<sup>8</sup> |  |  |  |  |  |  |  |
| Reference Obligation/<br> Termination Date/<br> Payment Frequency<br> (Fixed Rate/<br> Floating Rate) | Notional Amount<sup>3</sup> | Fixed/<br> Floating<br> Interest<br> Rate<br> Paid<br> (Received) | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** | **Centrally Cleared:** |
| 1 yr IRS<sup>9</sup> 12/18/25-<br> (At Maturity/ At Maturity) | 14800000 | 3.50%/<br> (4.367)% | $102653 | $4060 | $98593 | $— | $(1293) |
| 3 yr IRS<sup>9</sup> 2/18/26-<br> (Semiannually/ Quarterly) | 42100000 | &nbsp;&nbsp;&nbsp;(0.64)%/<br> 4.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1499300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107971) | &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;(1391329) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15083 |

---

&nbsp;&nbsp;&nbsp;&nbsp;43

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Schedules of investments
Optimum Fixed Income Fund

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| IRS Contracts<sup>8</sup> |  |  |  |  |  |  |  |
| Reference Obligation/<br> Termination Date/<br> Payment Frequency<br> (Fixed Rate/<br> Floating Rate) | Notional Amount<sup>3</sup> | Fixed/<br> Floating<br> Interest<br> Rate<br> Paid<br> (Received) | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** |
| 3 yr IRS<sup>10</sup> 1/4/27-<br> (At Maturity/ At Maturity) | &nbsp;&nbsp;&nbsp;&nbsp;BRL 2,900,000 | 11.566%/<br> (14.15)% | $(27684) | $— | $— | $(27684) | $803 |
| 3 yr IRS<sup>10</sup> 1/4/27-<br> (At Maturity/ At Maturity) | BRL 196,500,000 | 11.496%/<br> (14.15)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1932506) | &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;(1932506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54002 |
| 5 yr IRS<sup>11</sup> 9/16/25-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;GBP 5,700,000 | 0.50%/<br> (4.758)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304456 | &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;(2573) |
| 5 yr IRS<sup>12</sup> 4/11/27-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;EUR 1,900,000 | (0.70)%/<br> 3.064% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76371) | &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;&nbsp;(76371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253) |
| 5 yr IRS<sup>12</sup> 4/12/27-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;EUR 3,800,000 | (0.65)%/<br> 3.064% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158619) | &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;(158619) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(497) |
| 5 yr IRS<sup>12</sup> 5/13/27-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;EUR 4,100,000 | (1.00)%/<br> 2.779% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117843) | &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;(117843) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(927) |
| 5 yr IRS<sup>12</sup> 5/18/27-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;EUR 2,000,000 | (1.00)%/<br> 2.735% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57036) | &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;&nbsp;(57036) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(478) |
| 5 yr IRS<sup>12</sup> 8/14/29-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;EUR 2,400,000 | 2.65%/<br> (2.486)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64606) | &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;&nbsp;(64606) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852 |
| 5 yr IRS<sup>13</sup> 10/5/29-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;EUR 3,200,000 | 2.056%/<br> (2.417)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25628 | &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;25628 | &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;2686 |
| 5 yr IRS<sup>13</sup> 10/5/29-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;EUR 4,700,000 | 2.063%/<br> (2.417)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36717 | &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;36717 | &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;3953 |
| 5 yr IRS<sup>13</sup> 10/5/29-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;EUR 2,000,000 | 2.05%/<br> (2.417)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16656 | &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;16656 | &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;1677 |
| 5 yr IRS<sup>9</sup> 12/18/29-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20260000 | 3.75%/<br> (4.367)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48588) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36361 | &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;(84949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21707) |
| 5 yr IRS<sup>11</sup> 3/19/30-<br> (Annually/ Annually) | &nbsp;&nbsp;GBP 20,800,000 | (3.50)%/<br> 4.456% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(601336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561205) | &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;(40131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14911 |
| 5 yr IRS<sup>12</sup> 9/17/30-<br> (Annually/ Semiannually) | &nbsp;&nbsp;EUR 19,500,000 | (2.25)%/<br> 2.336% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(279048) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97286 | &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;(15780) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15300000 | 3.595%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110915 | &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;110915 | &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;(22608) |

---

44&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| IRS Contracts<sup>8</sup> |  |  |  |  |  |  |  |
| Reference Obligation/<br> Termination Date/<br> Payment Frequency<br> (Fixed Rate/<br> Floating Rate) | Notional Amount<sup>3</sup> | Fixed/<br> Floating<br> Interest<br> Rate<br> Paid<br> (Received) | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9800000 | 3.601%/<br> (4.462)% | $67943 | $— | $67943 | $— | $(14479) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400000 | 3.601%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30526 | &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;30526 | &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;(6501) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200000 | 3.545%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21888 | &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;21888 | &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;(3254) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3390000 | 3.582%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27064 | &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;27064 | &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;(5011) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300000 | 3.623%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24573 | &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;24573 | &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;(6350) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9900000 | 3.689%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21213 | &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;21213 | &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;(14599) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2900000 | 3.664%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10189 | &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;10189 | &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;(4279) |
| 7 yr IRS<sup>9</sup> 10/31/30-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300000 | 3.677%/<br> (4.462)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6471 | &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;6471 | &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;(3393) |
| 7 yr IRS<sup>9</sup> 12/31/31-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32400000 | 3.80%/<br> (4.41)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224709) | &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;(224709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63652) |
| 7 yr IRS<sup>9</sup> 12/31/31-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25700000 | 3.798%/<br> (4.41)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174534) | &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;(174534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50484) |
| 8 yr IRS<sup>14</sup> 6/1/32-<br> (Semiannually/ Semiannually) | CAD 16,200,000 | 3.50%/<br> (2.77)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(715371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63366 | &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;(778737) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27093) |
| 8 yr IRS<sup>9</sup> 7/15/32-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15120000 | (1.857)%/<br> 4.799% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2096464) | &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;(2096464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34217 |
| 8 yr IRS<sup>14</sup> 6/1/33-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 5,200,000 | 2.85%/<br> (3.097)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) | &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;(60102) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10228) |
| 8 yr IRS<sup>14</sup> 6/1/33-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 7,300,000 | 2.90%/<br> (2.77)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3343) | &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;(103487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14323) |
| 8 yr IRS<sup>14</sup> 6/1/33-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 2,300,000 | 3.00%/<br> (3.023)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125 | &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;(53413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4448) |

---

&nbsp;&nbsp;&nbsp;&nbsp;45

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| IRS Contracts<sup>8</sup> |  |  |  |  |  |  |  |
| Reference Obligation/<br> Termination Date/<br> Payment Frequency<br> (Fixed Rate/<br> Floating Rate) | Notional Amount<sup>3</sup> | Fixed/<br> Floating<br> Interest<br> Rate<br> Paid<br> (Received) | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** |
| 9 yr IRS<sup>14</sup> 6/1/34-<br> (Semiannually/ Semiannually) | CAD 10,500,000 | 3.00%/<br> (2.98)% | $(192614) | $12698 | $— | $(205312) | $(23681) |
| 9 yr IRS<sup>14</sup> 6/1/34-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 2,600,000 | 3.00%/<br> (3.04)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47453) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2721) | &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;(44732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5864) |
| 9 yr IRS<sup>14</sup> 6/1/34-<br> (Semiannually/ Semiannually) | CAD 10,400,000 | 2.90%/<br> (2.948)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131063) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985 | &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;(133048) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23689) |
| 9 yr IRS<sup>14</sup> 6/1/34-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 3,500,000 | 3.00%/<br> (3.034)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762 | &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;(65680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7894) |
| 10 yr IRS<sup>14</sup> 12/20/33-<br> (Semiannually/ Semiannually) | &nbsp;&nbsp;CAD 4,900,000 | 3.75%/<br> (2.77)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(298348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15619) | &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;(282729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9455) |
| 10 yr IRS<sup>9</sup> 8/14/34-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | 3.569%/<br> (4.718)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(722) | &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;&nbsp;&nbsp;&nbsp;&nbsp;(722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 |
| 10 yr IRS<sup>9</sup> 9/4/34-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180000 | 3.47%/<br> (4.642)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2844) | &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;&nbsp;&nbsp;(2844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 |
| 10 yr IRS<sup>9</sup> 12/18/34-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40800000 | 3.75%/<br> (4.367)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(828755) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939923 | &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;(136032) |
| 10 yr IRS<sup>12</sup> 1/8/35-<br> (Annually/ Semiannually) | &nbsp;&nbsp;&nbsp;&nbsp;EUR 400,000 | (2.22)%/<br> 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16524) | &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;&nbsp;(16524) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134) |
| 10 yr IRS<sup>9</sup> 2/26/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800000 | 4.00%/<br> (4.34)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15788 | &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;15788 | &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;2736 |
| 10 yr IRS<sup>9</sup> 3/3/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | 3.89%/<br> (4.332)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669 | &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;2669 | &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;854 |
| 10 yr IRS<sup>9</sup> 3/4/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | 3.908%/<br> (4.332)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3430) | &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;&nbsp;&nbsp;(3430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1026) |
| 10 yr IRS<sup>9</sup> 3/5/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600000 | 3.874%/<br> (4.331)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13846) | &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;&nbsp;(13846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5466) |
| 10 yr IRS<sup>9</sup> 3/5/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | 3.87%/<br> (4.331)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3328) | &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;&nbsp;&nbsp;(3328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1366) |

---

46&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| IRS Contracts<sup>8</sup> |  |  |  |  |  |  |  |
| Reference Obligation/<br> Termination Date/<br> Payment Frequency<br> (Fixed Rate/<br> Floating Rate) | Notional Amount<sup>3</sup> | Fixed/<br> Floating<br> Interest<br> Rate<br> Paid<br> (Received) | Value | Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | Unrealized<br> Appreciation | Unrealized<br> Depreciation | Variation Margin<br> Due from<br> (Due to) Brokers |
| **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** | **Centrally Cleared (continued):** |
| 10 yr IRS<sup>9</sup> 3/11/35-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2400000 | 3.899%/<br> (4.325)% | $(25935) | $— | $— | $(25935) | $(8221) |
| 10 yr IRS<sup>11</sup> 3/19/35-<br> (Annually/ Annually) | &nbsp;&nbsp;GBP 4,700,000 | (3.50)%/<br> 4.456% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(325515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290424) | &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;(35091) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234 |
| 10 yr IRS<sup>12</sup> 4/1/35-<br> (Annually/ Semiannually) | &nbsp;&nbsp;EUR 1,100,000 | (2.46)%/<br> 2.336% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20446) | &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;&nbsp;(20446) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20446) |
| 10 yr IRS<sup>12</sup> 9/17/35-<br> (Annually/ Semiannually) | EUR 30,080,000 | (2.25)%/<br> 2.336% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1235734) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1442944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207210 | &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;(10646) |
| 30 yr IRS<sup>9</sup> 12/21/52-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17000000 | 1.75%/<br> (4.364)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6127251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3222362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2904889 | &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;(108489) |
| 30 yr IRS<sup>9</sup> 9/19/53-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4800000 | 1.842%/<br> (4.599)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208584 | &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;(31556) |
| 30 yr IRS<sup>9</sup> 10/27/53-<br> (Semiannually/ Quarterly) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13680000 | 2.06%/<br> (4.353)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4788656 | &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;4788656 | &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;(88931) |
| 30 yr IRS<sup>9</sup> 6/20/54-<br> (Annually/ Annually) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8400000 | 3.50%/<br> (4.873)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548626 | &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;(69200) |
| 30 yr IRS<sup>12</sup> 9/17/55-<br> (Annually/ Semiannually) | EUR 10,600,000 | (2.25)%/<br> 2.336% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982679 | &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;(100636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28639) |
| Total IRS Contracts |  |  | $4408044 | $2288404 | $10516463 | $(8396823) | $(736036) |

---

The use of forward foreign currency exchange contracts, futures contracts, and swap contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The notional amounts and forward foreign currency exchange contracts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund's net assets.

<sup>1</sup> See Note 7 in "Notes to financial statements." <br>

&nbsp;&nbsp;&nbsp;&nbsp;47

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund

<sup>2</sup> A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular reference security or basket of securities (such as an index). Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded daily as unrealized appreciation or depreciation. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the CDS agreement.

<sup>3</sup> Notional amount shown is stated in USD unless noted that the swap is denominated in another currency.

---

| | |
|:---|:---|
| <sup>4</sup> | Markit's iTraxx Europe Main Index, or the ITRX EUR CDSI S41, is comprised of 125 Financial entities from the Markit iTraxx<sup>®</sup> Europe Index referencing subordinated debt. |
| <sup>5</sup> | Markit's North America High Yield Index, or the CDX.NA.HY Index, is composed of 100 liquid North American entities with high yield credit ratings that trade in the CDS market. |
| <sup>6</sup> | Markit's North America Investment Grade Index, or the CDX.NA.IG Index, is composed of 125 liquid North American entities with investment grade credit ratings that trade in the CDS market. |
| <sup>7</sup> | Markit's CMBX Index, or the CMBX.NA Index, is a synthetic tradable index referencing a basket of 25 commercial mortgage-backed securities in North America. Credit-quality rating are measured on a scale that generally ranges from AAA (highest) to BB (lowest). US Agency and US Agency mortgage-backed securities appear under US Government. |
| <sup>8</sup> | An IRS agreement is an exchange of interest rates between counterparties. Periodic payments (receipt) on such contracts are accrued daily and recorded as unrealized appreciation (depreciation) on swap contracts. Upon periodic payment (receipt) or termination of the contract, such amounts are recorded as realized gains (losses) on swap contracts. |
| <sup>9</sup> | Rates resets based on SOFR. |
| <sup>10</sup> | Rates resets based on Brazil CETIP Interbank Deposit. |
| <sup>11</sup> | Rate resets based on SONIA. |
| <sup>12</sup> | Rate resets based on EUR006M. |
| <sup>1</sup><sup>3</sup> | Rate resets based on ESTR. |
| <sup>1</sup><sup>4</sup> | Rates resets based on CORRA. |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| 12MTA – 12 Month Treasury Average |
| ABS – Asset-Backed Security |
| ARM – Adjustable Rate Mortgage |
| BAML – Bank of America Merrill Lynch |
| BNP – BNP Paribas |
| CDS – Credit Default Swap |
| CDX.ITRX.EUR – Credit Default Swap Index iTraxx Europe |
| CDX.NA.HY – Credit Default Swap Index North America High Yield |
| CDX.NA.IG – Credit Default Swap Index North America Investment Grade |
| CETIP – Central de Custódia de Liquidação Financeira de Títulos |
| CITI – Citigroup |
| CJSC – Closed Joint Stock Company |
| CLO – Collateralized Loan Obligation |
| CMBX.NA – Commercial Mortgage-Backed Index North America |
| CORRA – Canadian Overnight Repo Rate Average |
| DAC – Designated Activity Company |
| DB – Deutsche Bank |
| ESTR – Euro Short-Term Rate |
| EUR003M – EURIBOR EUR 3 Month |
| EUR006M – EURIBOR EUR 6 Month |
| EURIBOR – Euro interbank offered rate |
| FREMF – Freddie Mac Multifamily |
| GE – General Electric |
| GNMA – Government National Mortgage Association |
| GS – Goldman Sachs |
| H15T1Y – US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
| IBOR – Interbank Offered Rate |
| ICE – Intercontinental Exchange, Inc. |
| IRS – Interest Rate Swap |
| JPM – JPMorgan |
| JPMCB – JPMorgan Chase Bank |
| JSC – Joint Stock Company |
| MASTR – Mortgage Asset Securitization Transactions, Inc. |
| MS – Morgan Stanley |
| PIK – Payment-in-kind |
| PJSC – Private Joint Stock Company |
| REMIC – Real Estate Mortgage Investment Conduit |
| RFUCCT1Y – Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 Year |
| S.F. – Single Family |

---

48&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| SOFR – Secured Overnight Financing Rate |
| SOFR01M – Secured Overnight Financing Rate 1 Month |
| SOFR02M – Secured Overnight Financing Rate 2 Month |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| SOFR06M – Secured Overnight Financing Rate 6 Month |
| SONIA – Sterling Overnight Indexed Average |
| STRIP – Separate Trading of Registered Interest and Principal |
| TBA – To be announced |
| TBD – To be determined |
| TD – TD Bank |
| TSFR01M – 1 Month Term Secured Overnight Financing Rate |
| TSFR03M – 3 Month Term Secured Overnight Financing Rate |
| TSFR06M – 6 Month Term Secured Overnight Financing Rate |
| yr – Year |

---

---

| |
|:---|
| **Summary of currencies:** |
| AUD – Australian Dollar |
| BRL – Brazilian Real |
| CAD – Canadian Dollar |
| CHF – Swiss Franc |
| CNY – China Yuan Renminbi |
| DKK – Danish Krone |
| EUR – European Monetary Unit |
| GBP – British Pound Sterling |
| IDR – Indonesian Rupiah |
| ILS – Israeli New Shekel |
| INR – Indian Rupee |
| JPY – Japanese Yen |
| KRW – South Korean Won |
| PLN – Polish Zloty |
| SGD – Singapore Dollar |
| TRY – Turkish Lira |
| TWD – New Taiwan Dollar |
| USD – US Dollar |
| ZAR – South African Rand |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;49

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 98.82%Δ** | &nbsp;&nbsp;**Common Stocks — 98.82%Δ** | &nbsp;&nbsp;**Common Stocks — 98.82%Δ** |
| &nbsp;&nbsp;Australia — 3.18% | &nbsp;&nbsp;Australia — 3.18% | &nbsp;&nbsp;Australia — 3.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aristocrat Leisure | &nbsp;&nbsp;&nbsp;&nbsp;175254 | $7024904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlueScope Steel | &nbsp;&nbsp;&nbsp;&nbsp;102172 | &nbsp;&nbsp; 1358561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brambles | &nbsp;&nbsp;&nbsp;&nbsp;165565 | &nbsp;&nbsp; 2072169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Catalyst Metals † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10588 | &nbsp;&nbsp; 38240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cochlear | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 | &nbsp;&nbsp; 521032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Computershare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43403 | &nbsp;&nbsp; 1061220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EBOS Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enero Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evolution Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95077 | &nbsp;&nbsp; 422397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Star Resources | &nbsp;&nbsp;&nbsp;&nbsp;148866 | &nbsp;&nbsp; 1704107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro Medicus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22715 | &nbsp;&nbsp; 2835713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qantas Airways | &nbsp;&nbsp;&nbsp;&nbsp;242759 | &nbsp;&nbsp; 1372776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029 | &nbsp;&nbsp; 415536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regis Resources † | &nbsp;&nbsp;&nbsp;&nbsp;160991 | &nbsp;&nbsp; 394333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rio Tinto | &nbsp;&nbsp;&nbsp;&nbsp;106310 | &nbsp;&nbsp; 6298454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wagners Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18860 | &nbsp;&nbsp; 20329 |
|  |  | &nbsp;&nbsp; 25540985 |
| &nbsp;&nbsp;Austria — 0.25% | &nbsp;&nbsp;Austria — 0.25% | &nbsp;&nbsp;Austria — 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Erste Group Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28918 | &nbsp;&nbsp; 1992463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raiffeisen Bank International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp; 16569 |
|  |  | &nbsp;&nbsp; 2009032 |
| &nbsp;&nbsp;Brazil — 1.98% | &nbsp;&nbsp;Brazil — 1.98% | &nbsp;&nbsp;Brazil — 1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BRF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp; 180427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7123 | &nbsp;&nbsp; 13896047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76123 | &nbsp;&nbsp; 580819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ultrapar Participacoes | &nbsp;&nbsp;&nbsp;&nbsp;301600 | &nbsp;&nbsp; 916990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vibra Energia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72200 | &nbsp;&nbsp; 225971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VTEX Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16885 | &nbsp;&nbsp; 85607 |
|  |  | &nbsp;&nbsp; 15885861 |
| &nbsp;&nbsp;Canada — 4.98% | &nbsp;&nbsp;Canada — 4.98% | &nbsp;&nbsp;Canada — 4.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Canada † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47588 | &nbsp;&nbsp; 468588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aritzia † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp; 326878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calfrac Well Services † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609 | &nbsp;&nbsp; 23032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20800 | &nbsp;&nbsp; 1170050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Tire Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp; 1080001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cascades | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23600 | &nbsp;&nbsp; 159077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cenovus Energy | &nbsp;&nbsp;&nbsp;&nbsp;157700 | &nbsp;&nbsp; 2191724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centerra Gold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | &nbsp;&nbsp; 178279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CES Energy Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22773 | &nbsp;&nbsp; 117105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cogeco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 136749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294 | &nbsp;&nbsp; 7264936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DRI Healthcare Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp; 44144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dundee Precious Metals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp; 853863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dynacor Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp; 25912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Empire Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68700 | &nbsp;&nbsp; 2303447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enghouse Systems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7013 | &nbsp;&nbsp; 125099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ensign Energy Services † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15700 | &nbsp;&nbsp; 25420 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Canada (continued) | &nbsp;&nbsp;Canada (continued) | &nbsp;&nbsp;Canada (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FirstService | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $165818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Great-West Lifeco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp; 356525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hemisphere Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20900 | &nbsp;&nbsp; 26433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;High Liner Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 11862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iA Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41480 | &nbsp;&nbsp; 3939166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jaguar Mining † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238 | &nbsp;&nbsp; 12658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinaxis † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp; 65601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leon's Furniture | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 14785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lumine Group † | &nbsp;&nbsp;&nbsp;&nbsp;131401 | &nbsp;&nbsp; 3698093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martinrea International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25979 | &nbsp;&nbsp; 126731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mullen Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp; 64279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neo Performance Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2852 | &nbsp;&nbsp; 17084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Open Text | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp; 65621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PHX Energy Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp; 65263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shopify Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39709 | &nbsp;&nbsp; 3791415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSR Mining † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23912 | &nbsp;&nbsp; 239837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stella-Jones | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38368 | &nbsp;&nbsp; 1819417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suncor Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp; 2137343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TFI International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25420 | &nbsp;&nbsp; 1968171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TMX Group | &nbsp;&nbsp;&nbsp;&nbsp;117840 | &nbsp;&nbsp; 4302362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Torex Gold Resources † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20173 | &nbsp;&nbsp; 558628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Energy Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp; 50297 |
|  |  | &nbsp;&nbsp; 39991693 |
| &nbsp;&nbsp;China — 12.67% | &nbsp;&nbsp;China — 12.67% | &nbsp;&nbsp;China — 12.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agricultural Bank of China Class H | 9167000 | &nbsp;&nbsp; 5513312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIA Group | &nbsp;&nbsp;&nbsp;&nbsp;662000 | &nbsp;&nbsp; 4985343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATRenew ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11140 | &nbsp;&nbsp; 32752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autohome ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35867 | &nbsp;&nbsp; 994233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baidu Class A † | &nbsp;&nbsp;&nbsp;&nbsp;206350 | &nbsp;&nbsp; 2385312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bilibili Class Z † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50340 | &nbsp;&nbsp; 961975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BOE Technology Group Class A | 10311900 | &nbsp;&nbsp; 5901290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build King Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73424 | &nbsp;&nbsp; 10379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canny Elevator Class A | &nbsp;&nbsp;&nbsp;&nbsp;464600 | &nbsp;&nbsp; 467054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changjiang & Jinggong Steel Building Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;349100 | &nbsp;&nbsp; 154049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chaowei Power Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp; 17395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chengdu Kanghong Pharmaceutical Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;183500 | &nbsp;&nbsp; 631345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Construction Bank Class H | 11445000 | &nbsp;&nbsp; 10119142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Display Optoelectronics Technology Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;218831 | &nbsp;&nbsp; 5878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Minsheng Banking Class H | 2913500 | &nbsp;&nbsp; 1310456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Taiping Insurance Holdings | &nbsp;&nbsp;&nbsp;&nbsp;124800 | &nbsp;&nbsp; 189571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chongqing Rural Commercial Bank Class H | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60502 | &nbsp;&nbsp; 41053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dah Sing Financial Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp; 111997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focus Technology Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46300 | &nbsp;&nbsp; 274798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G-bits Network Technology Xiamen Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22600 | &nbsp;&nbsp; 694951 |

---

&nbsp;&nbsp;&nbsp;&nbsp;50

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;China (continued) | &nbsp;&nbsp;China (continued) | &nbsp;&nbsp;China (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guangdong Vanward New Electric Class A | &nbsp;&nbsp;&nbsp;&nbsp;231200 | $366964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hisense Visual Technology Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp; 171132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial and Commercial Bank of China Class H | &nbsp;&nbsp;&nbsp;&nbsp;249000 | &nbsp;&nbsp; 177275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jacobson Pharma | &nbsp;&nbsp;&nbsp;&nbsp;208796 | &nbsp;&nbsp; 31662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JD.com Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79150 | &nbsp;&nbsp; 1635598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JOYY ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17282 | &nbsp;&nbsp; 725498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingnet Network Class A | &nbsp;&nbsp;&nbsp;&nbsp;477000 | &nbsp;&nbsp; 1056390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingsoft | &nbsp;&nbsp;&nbsp;&nbsp;183200 | &nbsp;&nbsp; 886400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kuaishou Technology † | &nbsp;&nbsp;&nbsp;&nbsp;619600 | &nbsp;&nbsp; 4327633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kweichow Moutai Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp; 2669222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lenovo Group | 2026000 | &nbsp;&nbsp; 2728602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meituan Class B † | &nbsp;&nbsp;&nbsp;&nbsp;206490 | &nbsp;&nbsp; 4134338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midea Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;402800 | &nbsp;&nbsp; 4360329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Food International Holding | &nbsp;&nbsp;&nbsp;&nbsp;344000 | &nbsp;&nbsp; 26967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetEase | &nbsp;&nbsp;&nbsp;&nbsp;183800 | &nbsp;&nbsp; 3732004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newborn Town † | &nbsp;&nbsp;&nbsp;&nbsp;104000 | &nbsp;&nbsp; 78721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Opple Lighting Class A | &nbsp;&nbsp;&nbsp;&nbsp;124199 | &nbsp;&nbsp; 284820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAX Global Technology | &nbsp;&nbsp;&nbsp;&nbsp;104968 | &nbsp;&nbsp; 65289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perennial Energy Holdings | &nbsp;&nbsp;&nbsp;&nbsp;160061 | &nbsp;&nbsp; 15839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China Class H | &nbsp;&nbsp;&nbsp;&nbsp;411000 | &nbsp;&nbsp; 2445470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Postal Savings Bank of China Class H | 1424000 | &nbsp;&nbsp; 880227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shenzhen Laibao Hi-tech Class A | &nbsp;&nbsp;&nbsp;&nbsp;558300 | &nbsp;&nbsp; 847647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silergy | &nbsp;&nbsp;&nbsp;&nbsp;166000 | &nbsp;&nbsp; 1887358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SITC International Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp; 149490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ten Pao Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28685 | &nbsp;&nbsp; 6488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings | &nbsp;&nbsp;&nbsp;&nbsp;324200 | &nbsp;&nbsp; 20706604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | &nbsp;&nbsp;&nbsp;&nbsp;409073 | &nbsp;&nbsp; 5894742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time Publishing and Media Class A | &nbsp;&nbsp;&nbsp;&nbsp;115760 | &nbsp;&nbsp; 131217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Topsports International Holdings | &nbsp;&nbsp;&nbsp;&nbsp;841000 | &nbsp;&nbsp; 369625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Scientific Industrial Shanghai Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp; 29100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vatti Class A | &nbsp;&nbsp;&nbsp;&nbsp;130300 | &nbsp;&nbsp; 130988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | &nbsp;&nbsp;&nbsp;&nbsp;153207 | &nbsp;&nbsp; 2402286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xiamen Jihong Technology Class A | &nbsp;&nbsp;&nbsp;&nbsp;203300 | &nbsp;&nbsp; 354080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings | &nbsp;&nbsp;&nbsp;&nbsp;510800 | &nbsp;&nbsp; 896468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yixintang Pharmaceutical Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;279600 | &nbsp;&nbsp; 490438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yue Yuen Industrial Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp; 33680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zhejiang Hangmin Class A | &nbsp;&nbsp;&nbsp;&nbsp;339800 | &nbsp;&nbsp; 333160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zhejiang Semir Garment Class A | 1354878 | &nbsp;&nbsp; 1229380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zhihu ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5037 | &nbsp;&nbsp; 21508 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;China (continued) | &nbsp;&nbsp;China (continued) | &nbsp;&nbsp;China (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zhiou Home Furnishing Technology Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94700 | $248121 |
|  |  | &nbsp;&nbsp;101765045 |
| &nbsp;&nbsp;Czech Republic — 0.03% | &nbsp;&nbsp;Czech Republic — 0.03% | &nbsp;&nbsp;Czech Republic — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Komercni Banka | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5365 | &nbsp;&nbsp; 259622 |
|  |  | &nbsp;&nbsp; 259622 |
| &nbsp;&nbsp;Denmark — 3.48% | &nbsp;&nbsp;Denmark — 3.48% | &nbsp;&nbsp;Denmark — 3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ambu Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93827 | &nbsp;&nbsp; 1603979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AP Moller - Maersk Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649 | &nbsp;&nbsp; 2864387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Demant † | &nbsp;&nbsp;&nbsp;&nbsp;105226 | &nbsp;&nbsp; 3526013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DSV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41438 | &nbsp;&nbsp; 8002744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genmab † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5242 | &nbsp;&nbsp; 1018063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp; 37914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41718 | &nbsp;&nbsp; 2840596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novonesis (Novozymes) Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96545 | &nbsp;&nbsp; 5611088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pandora | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14450 | &nbsp;&nbsp; 2207402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ROCKWOOL Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp; 244088 |
|  |  | &nbsp;&nbsp; 27956274 |
| &nbsp;&nbsp;Finland — 0.71% | &nbsp;&nbsp;Finland — 0.71% | &nbsp;&nbsp;Finland — 0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cargotec Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp; 122665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kalmar Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp; 88800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kone Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57586 | &nbsp;&nbsp; 3165692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orion Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135 | &nbsp;&nbsp; 66273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orion Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22959 | &nbsp;&nbsp; 1361931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vaisala Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp; 38865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wartsila | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47574 | &nbsp;&nbsp; 843388 |
|  |  | &nbsp;&nbsp; 5687614 |
| &nbsp;&nbsp;France — 5.97% | &nbsp;&nbsp;France — 5.97% | &nbsp;&nbsp;France — 5.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;106427 | &nbsp;&nbsp; 8850765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99532 | &nbsp;&nbsp; 7624081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dassault Aviation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5825 | &nbsp;&nbsp; 1921065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dassault Systemes | &nbsp;&nbsp;&nbsp;&nbsp;122238 | &nbsp;&nbsp; 4618228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edenred | &nbsp;&nbsp;&nbsp;&nbsp;173748 | &nbsp;&nbsp; 5624939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDJ UNITED | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3442 | &nbsp;&nbsp; 108157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ipsen | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 | &nbsp;&nbsp; 375524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Klepierre | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55271 | &nbsp;&nbsp; 1847919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6360 | &nbsp;&nbsp; 3931620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19857 | &nbsp;&nbsp; 1941012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Publicis Groupe | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5824 | &nbsp;&nbsp; 546244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rexel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39940 | &nbsp;&nbsp; 1070177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10211 | &nbsp;&nbsp; 2013354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;&nbsp;166487 | &nbsp;&nbsp; 7451127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIEL & Cie | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063 | &nbsp;&nbsp; 29557 |
|  |  | &nbsp;&nbsp; 47953769 |
| &nbsp;&nbsp;Germany — 6.66% | &nbsp;&nbsp;Germany — 6.66% | &nbsp;&nbsp;Germany — 6.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adidas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27888 | &nbsp;&nbsp; 6534652 |

---

&nbsp;&nbsp;&nbsp;&nbsp;51

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Germany (continued) | &nbsp;&nbsp;Germany (continued) | &nbsp;&nbsp;Germany (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioNTech ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18152 | $1652921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continental | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14559 | &nbsp;&nbsp; 1016345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57548 | &nbsp;&nbsp; 1357786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Boerse | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51707 | &nbsp;&nbsp; 15213323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Telekom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81103 | &nbsp;&nbsp; 3000980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Group & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6697 | &nbsp;&nbsp; 364608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HOCHTIEF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp; 176215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knorr-Bremse | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18422 | &nbsp;&nbsp; 1664292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nemetschek | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2836 | &nbsp;&nbsp; 327509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rational | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4234 | &nbsp;&nbsp; 3502341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34301 | &nbsp;&nbsp; 9064716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scout24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81485 | &nbsp;&nbsp; 8493778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talanx | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10628 | &nbsp;&nbsp;&nbsp; 1111282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trivago ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049 | &nbsp;&nbsp; 12501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westwing Group † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 19 |
|  |  | &nbsp;&nbsp; 53493268 |
| &nbsp;&nbsp;Greece — 0.01% | &nbsp;&nbsp;Greece — 0.01% | &nbsp;&nbsp;Greece — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thrace Plastics Holding and Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12866 | &nbsp;&nbsp; 56065 |
|  |  | &nbsp;&nbsp; 56065 |
| &nbsp;&nbsp;Hungary — 0.49% | &nbsp;&nbsp;Hungary — 0.49% | &nbsp;&nbsp;Hungary — 0.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;157107 | &nbsp;&nbsp; 1235796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTP Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38678 | &nbsp;&nbsp; 2595898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richter Gedeon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4713 | &nbsp;&nbsp; 129816 |
|  |  | &nbsp;&nbsp; 3961510 |
| &nbsp;&nbsp;India — 3.86% | &nbsp;&nbsp;India — 3.86% | &nbsp;&nbsp;India — 3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acevector Limited =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;227200 | &nbsp;&nbsp; 92318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acevector Limited Series G =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75200 | &nbsp;&nbsp; 30556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AurionPro Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387 | &nbsp;&nbsp; 25827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bharat Petroleum | &nbsp;&nbsp;&nbsp;&nbsp;168472 | &nbsp;&nbsp; 545604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coal India | &nbsp;&nbsp;&nbsp;&nbsp;658178 | &nbsp;&nbsp; 3051399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gujarat Industries Power | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13155 | &nbsp;&nbsp; 27537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCL Technologies | &nbsp;&nbsp;&nbsp;&nbsp;210125 | &nbsp;&nbsp; 3892632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HDFC Bank | &nbsp;&nbsp;&nbsp;&nbsp;327643 | &nbsp;&nbsp; 6984108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICICI Lombard General Insurance | &nbsp;&nbsp;&nbsp;&nbsp;177129 | &nbsp;&nbsp; 3707902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indus Towers † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65457 | &nbsp;&nbsp; 254532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Infosys | &nbsp;&nbsp;&nbsp;&nbsp;204859 | &nbsp;&nbsp; 3753746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Infosys ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4522 | &nbsp;&nbsp; 82527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kirloskar Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576 | &nbsp;&nbsp; 57401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LTIMindtree | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9156 | &nbsp;&nbsp; 478313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mphasis | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21339 | &nbsp;&nbsp; 621514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4793 | &nbsp;&nbsp; 21624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Financial Services Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 30984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power Finance | &nbsp;&nbsp;&nbsp;&nbsp;147642 | &nbsp;&nbsp; 710391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68397 | &nbsp;&nbsp; 340950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries | &nbsp;&nbsp;&nbsp;&nbsp;265255 | &nbsp;&nbsp; 3943634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rupa & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sammaan Capital | &nbsp;&nbsp;&nbsp;&nbsp;147519 | &nbsp;&nbsp; 183595 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;India (continued) | &nbsp;&nbsp;India (continued) | &nbsp;&nbsp;India (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tata Elxsi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5240 | $318366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wipro | &nbsp;&nbsp;&nbsp;&nbsp;598241 | &nbsp;&nbsp; 1824660 |
|  |  | &nbsp;&nbsp; 30980796 |
| &nbsp;&nbsp;Indonesia — 0.38% | &nbsp;&nbsp;Indonesia — 0.38% | &nbsp;&nbsp;Indonesia — 0.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akasha Wira International † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37900 | &nbsp;&nbsp; 22658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alamtri Resources Indonesia | 12846998 | &nbsp;&nbsp; 1427189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asuransi Tugu Pratama Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;107400 | &nbsp;&nbsp; 6291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank OCBC Nisp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83751 | &nbsp;&nbsp; 6795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Bird | &nbsp;&nbsp;&nbsp;&nbsp;479300 | &nbsp;&nbsp; 43892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bukit Asam | 1039300 | &nbsp;&nbsp; 157981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp; 31533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Mediacom † | 3949300 | &nbsp;&nbsp; 33303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indo Tambangraya Megah | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16519 | &nbsp;&nbsp; 22893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indo-Rama Synthetics † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28097 | &nbsp;&nbsp; 3716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panin Financial † | 1194700 | &nbsp;&nbsp; 26439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perusahaan Gas Negara | 2926720 | &nbsp;&nbsp; 273490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samudera Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42480 | &nbsp;&nbsp; 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telkom Indonesia Persero | 2137300 | &nbsp;&nbsp; 310400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Tractors | &nbsp;&nbsp;&nbsp;&nbsp;482700 | &nbsp;&nbsp; 684275 |
|  |  | &nbsp;&nbsp; 3051445 |
| &nbsp;&nbsp;Ireland — 4.12% | &nbsp;&nbsp;Ireland — 4.12% | &nbsp;&nbsp;Ireland — 4.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amarin ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96210 | &nbsp;&nbsp; 43112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98529 | &nbsp;&nbsp; 8540141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Experian | &nbsp;&nbsp;&nbsp;&nbsp;212432 | &nbsp;&nbsp; 9790914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingspan Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85241 | &nbsp;&nbsp; 6834487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryanair Holdings ADR | &nbsp;&nbsp;&nbsp;&nbsp;186434 | &nbsp;&nbsp; 7899209 |
|  |  | &nbsp;&nbsp; 33107863 |
| &nbsp;&nbsp;Israel — 1.50% | &nbsp;&nbsp;Israel — 1.50% | &nbsp;&nbsp;Israel — 1.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check Point Software Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29365 | &nbsp;&nbsp; 6692871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cognyte Software † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp; 6084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nice ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9326 | &nbsp;&nbsp; 1437789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wix.com † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23744 | &nbsp;&nbsp; 3879295 |
|  |  | &nbsp;&nbsp; 12016039 |
| &nbsp;&nbsp;Italy — 1.66% | &nbsp;&nbsp;Italy — 1.66% | &nbsp;&nbsp;Italy — 1.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banca Mediolanum | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64936 | &nbsp;&nbsp; 1044101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco | &nbsp;&nbsp;&nbsp;&nbsp;356778 | &nbsp;&nbsp; 7019341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leonardo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76358 | &nbsp;&nbsp; 3701429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technoprobe † | &nbsp;&nbsp;&nbsp;&nbsp;240458 | &nbsp;&nbsp; 1497642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unipol Assicurazioni | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6658 | &nbsp;&nbsp; 105974 |
|  |  | &nbsp;&nbsp; 13368487 |
| &nbsp;&nbsp;Japan — 10.14% | &nbsp;&nbsp;Japan — 10.14% | &nbsp;&nbsp;Japan — 10.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A&D HOLON Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 21997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Achilles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp; 1460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akatsuki | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp; 56074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AlphaPolis | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 42543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anest Iwata | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp; 54820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avant Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 22988 |

---

52&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | $8721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BIPROGY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp; 204721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BML | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp; 213427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brother Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp; 136505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buffalo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 25048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business Brain Showa-Ota | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 30530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 26768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capcom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29300 | &nbsp;&nbsp; 715749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Computer Engineering & Consulting | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp; 63472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dai Nippon Toryo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp; 32622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daihatsu Diesel Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp; 28552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings | &nbsp;&nbsp;&nbsp;&nbsp;102800 | &nbsp;&nbsp; 776534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daiwa Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp; 53270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Densan System Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 25942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doshisha | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp; 48117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Double Standard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp; 22587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eisai | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35500 | &nbsp;&nbsp; 981049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elecom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27700 | &nbsp;&nbsp; 305274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;en Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24100 | &nbsp;&nbsp; 263993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fabrica Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp; 42086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FANUC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80500 | &nbsp;&nbsp; 2179012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forum Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp; 49929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fujitsu | &nbsp;&nbsp;&nbsp;&nbsp;209510 | &nbsp;&nbsp; 4122035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuso Pharmaceutical Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 9769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gakujo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp; 31375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Galilei | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp; 40409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glory | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp; 80536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hisamitsu Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp; 132211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ichiken | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 56982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ichikoh Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp; 25823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ichiyoshi Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 5530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ID Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp; 36642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 27716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Itfor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp; 88116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IwaiCosmo Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp; 51331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iwaki | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp; 69291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JAC Recruitment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21439 | &nbsp;&nbsp; 115349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Exchange Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30800 | &nbsp;&nbsp; 313668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Medical Dynamic Marketing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp; 54724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Post Holdings | &nbsp;&nbsp;&nbsp;&nbsp;104500 | &nbsp;&nbsp; 1040193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Post Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp; 273258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan System Techniques | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19600 | &nbsp;&nbsp; 235869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JK Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp; 24146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kanamoto | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp; 84246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kato Works | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp; 164120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keyence | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp; 3002173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kitz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp; 62084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNT-CT Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp; 39681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kyowa Kirin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21700 | &nbsp;&nbsp; 314382 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lasertec | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30200 | $2553077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LIFULL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp; 13861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvelous | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp; 28202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matching Service Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp; 51249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matsuoka | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp; 28818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maxell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp; 113033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mazda Motor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp; 433441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miroku Jyoho Service | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp; 183779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitani Sangyo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp; 23020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi Research Institute | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp; 200333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MIXI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp; 423068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Forward † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94200 | &nbsp;&nbsp; 2515308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MonotaRO | &nbsp;&nbsp;&nbsp;&nbsp;234400 | &nbsp;&nbsp; 4371851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moriroku | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 60844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEC | &nbsp;&nbsp;&nbsp;&nbsp;199500 | &nbsp;&nbsp; 4183129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEOJAPAN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp; 35866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp; 197213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NIDEC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94900 | &nbsp;&nbsp; 1576710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nihon Chouzai | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp; 82452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nihon M&A Center Holdings | &nbsp;&nbsp;&nbsp;&nbsp;778600 | &nbsp;&nbsp; 3002482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nintendo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71900 | &nbsp;&nbsp; 4846383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nippon Shinyaku | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp; 136881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 47453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nisso Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp; 72505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Obic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21900 | &nbsp;&nbsp; 629156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OBIC Business Consultants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 28998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Okinawa Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp; 63299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Olympus | &nbsp;&nbsp;&nbsp;&nbsp;225200 | &nbsp;&nbsp; 2924042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ono Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp; 141029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Optim † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp; 16901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 27650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Osaki Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp; 65396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Otsuka | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65500 | &nbsp;&nbsp; 1413147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PR Times | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp; 35672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recruit Holdings | &nbsp;&nbsp;&nbsp;&nbsp;173000 | &nbsp;&nbsp; 8831662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ricoh | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46300 | &nbsp;&nbsp; 486800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sansan † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 57424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santen Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp; 124792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCREEN Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp; 530959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sekisui Kasei | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp; 16852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shikoku Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 36092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shimano | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp; 2854150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shindengen Electric Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 18920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinnihonseiyaku | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp; 39136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shofu | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp; 42223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SMC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp; 2865971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SMK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 20801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SMS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp; 68315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sodick | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp; 69459 |

---

&nbsp;&nbsp;&nbsp;&nbsp;53

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) | &nbsp;&nbsp;Japan (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SoftBank Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | $423838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Softcreate Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp; 27540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliton Systems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp; 135734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sony Group | &nbsp;&nbsp;&nbsp;&nbsp;394300 | &nbsp;&nbsp; 9897590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SRA Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp; 98607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Star Micronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp; 93030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subaru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22100 | &nbsp;&nbsp; 389723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55100 | &nbsp;&nbsp; 1394123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sun-Wa Technos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suzuken | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp; 289833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;System Research | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp; 43711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T&D Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp; 101575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TIS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp; 926078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tochigi Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp; 32547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tokio Marine Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp; 458911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tokyo Electron | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp; 469265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toli | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp; 38077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Topy Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp; 42523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toyo Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp; 28646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toyo Kanetsu | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp; 70765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trend Micro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34500 | &nbsp;&nbsp; 2303604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tsubakimoto Chain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp; 170119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ubicom Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp; 35842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ValueCommerce | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp; 13089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vector | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp; 48291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wowow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 13334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xebio Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp; 31921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yamaichi Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp; 55177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yushin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp; 28589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zacros | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 35276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zenrin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp; 101863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZIGExN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29300 | &nbsp;&nbsp; 84780 |
|  |  | &nbsp;&nbsp; 81410670 |
| &nbsp;&nbsp;Kazakhstan — 0.47% | &nbsp;&nbsp;Kazakhstan — 0.47% | &nbsp;&nbsp;Kazakhstan — 0.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kaspi.KZ JSC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41118 | &nbsp;&nbsp; 3817806 |
|  |  | &nbsp;&nbsp; 3817806 |
| &nbsp;&nbsp;Malaysia — 0.18% | &nbsp;&nbsp;Malaysia — 0.18% | &nbsp;&nbsp;Malaysia — 0.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hap Seng Plantations Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp; 3048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Heineken Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp; 62716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Leong Bank | &nbsp;&nbsp;&nbsp;&nbsp;199800 | &nbsp;&nbsp; 909148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lingkaran Trans Kota Holdings =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magni-Tech Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp; 16938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petronas Dagangan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp; 23098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RHB Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34300 | &nbsp;&nbsp; 52870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ta Ann Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp; 43286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YTL | &nbsp;&nbsp;&nbsp;&nbsp;244500 | &nbsp;&nbsp;&nbsp; 110811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YTL Power International | &nbsp;&nbsp;&nbsp;&nbsp;261630 | &nbsp;&nbsp; 197514 |
|  |  | &nbsp;&nbsp; 1419465 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Monaco — 0.01% | &nbsp;&nbsp;Monaco — 0.01% | &nbsp;&nbsp;Monaco — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costamare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101 | $89554 |
|  |  | &nbsp;&nbsp; 89554 |
| &nbsp;&nbsp;Netherlands — 4.82% | &nbsp;&nbsp;Netherlands — 4.82% | &nbsp;&nbsp;Netherlands — 4.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adyen † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551 | &nbsp;&nbsp; 8439229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8094 | &nbsp;&nbsp; 5311070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Euronext | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16559 | &nbsp;&nbsp; 2393931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXOR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43582 | &nbsp;&nbsp; 3937312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IMCD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33129 | &nbsp;&nbsp; 4393616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14117 | &nbsp;&nbsp; 527548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Topicus.com † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47792 | &nbsp;&nbsp; 4689033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wolters Kluwer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57995 | &nbsp;&nbsp; 9002020 |
|  |  | &nbsp;&nbsp; 38693759 |
| &nbsp;&nbsp;Norway — 0.09% | &nbsp;&nbsp;Norway — 0.09% | &nbsp;&nbsp;Norway — 0.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DNB Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25249 | &nbsp;&nbsp; 661182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norconsult Norge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12574 | &nbsp;&nbsp; 52707 |
|  |  | &nbsp;&nbsp; 713889 |
| &nbsp;&nbsp;Panama — 0.30% | &nbsp;&nbsp;Panama — 0.30% | &nbsp;&nbsp;Panama — 0.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copa Holdings Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26031 | &nbsp;&nbsp; 2406826 |
|  |  | &nbsp;&nbsp; 2406826 |
| &nbsp;&nbsp;Peru — 0.04% | &nbsp;&nbsp;Peru — 0.04% | &nbsp;&nbsp;Peru — 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credicorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp; 160098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercorp Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386 | &nbsp;&nbsp; 178438 |
|  |  | &nbsp;&nbsp; 338536 |
| &nbsp;&nbsp;Philippines — 0.02% | &nbsp;&nbsp;Philippines — 0.02% | &nbsp;&nbsp;Philippines — 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ginebra San Miguel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31190 | &nbsp;&nbsp; 162422 |
|  |  | &nbsp;&nbsp; 162422 |
| &nbsp;&nbsp;Poland — 0.88% | &nbsp;&nbsp;Poland — 0.88% | &nbsp;&nbsp;Poland — 0.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 bit studios † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp; 46441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Millennium † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp; 4586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki | &nbsp;&nbsp;&nbsp;&nbsp;108024 | &nbsp;&nbsp; 4903462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CD Projekt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14946 | &nbsp;&nbsp; 817362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88044 | &nbsp;&nbsp; 1273068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unimot | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp; 10087 |
|  |  | &nbsp;&nbsp; 7055006 |
| &nbsp;&nbsp;Republic of Mauritius — 0.00% | &nbsp;&nbsp;Republic of Mauritius — 0.00% | &nbsp;&nbsp;Republic of Mauritius — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7644 | &nbsp;&nbsp; 5885 |
|  |  | &nbsp;&nbsp; 5885 |
| &nbsp;&nbsp;Russia — 0.00% | &nbsp;&nbsp;Russia — 0.00% | &nbsp;&nbsp;Russia — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GMK Norilskiy Nickel =, † | 1009500 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MMC Norilsk Nickel PJSC ADR =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;Singapore — 2.02% | &nbsp;&nbsp;Singapore — 2.02% | &nbsp;&nbsp;Singapore — 2.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNMC Goldmine Holdings | &nbsp;&nbsp;&nbsp;&nbsp;174700 | &nbsp;&nbsp; 44685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hafnia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp; 77607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Riverstone Holdings | &nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp; 82195 |

---

54&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Singapore (continued) | &nbsp;&nbsp;Singapore (continued) | &nbsp;&nbsp;Singapore (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samudera Shipping Line | &nbsp;&nbsp;&nbsp;&nbsp;237400 | $155493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sea ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87431 | &nbsp;&nbsp; 11408871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore Exchange | &nbsp;&nbsp;&nbsp;&nbsp;147697 | &nbsp;&nbsp; 1462206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STMicroelectronics | &nbsp;&nbsp;&nbsp;&nbsp;136258 | &nbsp;&nbsp; 2992226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UOB-Kay Hian Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26500 | &nbsp;&nbsp; 36292 |
|  |  | &nbsp;&nbsp; 16259575 |
| &nbsp;&nbsp;South Africa — 0.69% | &nbsp;&nbsp;South Africa — 0.69% | &nbsp;&nbsp;South Africa — 0.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discovery | &nbsp;&nbsp;&nbsp;&nbsp;494198 | &nbsp;&nbsp; 5377284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OUTsurance Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18695 | &nbsp;&nbsp; 71068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thungela Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16468 | &nbsp;&nbsp; 90644 |
|  |  | &nbsp;&nbsp; 5538996 |
| &nbsp;&nbsp;South Korea — 2.68% | &nbsp;&nbsp;South Korea — 2.68% | &nbsp;&nbsp;South Korea — 2.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNK Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55107 | &nbsp;&nbsp; 383597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coupang † | &nbsp;&nbsp;&nbsp;&nbsp;169734 | &nbsp;&nbsp; 3722267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Confectionery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp; 7998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hana Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56438 | &nbsp;&nbsp; 2284350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JB Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32530 | &nbsp;&nbsp; 384616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jin Air † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8976 | &nbsp;&nbsp; 56386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KB Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27255 | &nbsp;&nbsp; 1462238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korean Reinsurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp; 10464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14694 | &nbsp;&nbsp; 494956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LG Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22703 | &nbsp;&nbsp; 1190269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LOT Vacuum † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978 | &nbsp;&nbsp; 23800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAVER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15508 | &nbsp;&nbsp; 2011564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13277 | &nbsp;&nbsp; 181685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sambo Corrugated Board | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3512 | &nbsp;&nbsp; 18437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samsung Electronics | &nbsp;&nbsp;&nbsp;&nbsp;186408 | &nbsp;&nbsp; 7317068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SeAH Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp; 17199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21646 | &nbsp;&nbsp; 691643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SK Telecom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 | &nbsp;&nbsp; 196935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Semiconductor Equipment & Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp; 47502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Woori Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82927 | &nbsp;&nbsp; 929233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zeus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7798 | &nbsp;&nbsp; 71493 |
|  |  | &nbsp;&nbsp; 21503700 |
| &nbsp;&nbsp;Spain — 1.78% | &nbsp;&nbsp;Spain — 1.78% | &nbsp;&nbsp;Spain — 1.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amadeus IT Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80449 | &nbsp;&nbsp; 6132760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria | &nbsp;&nbsp;&nbsp;&nbsp;270183 | &nbsp;&nbsp; 3665008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CaixaBank | &nbsp;&nbsp;&nbsp;&nbsp;318685 | &nbsp;&nbsp; 2472118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industria de Diseno Textil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38011 | &nbsp;&nbsp; 1884494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Logista Integral | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763 | &nbsp;&nbsp; 183083 |
|  |  | &nbsp;&nbsp; 14337463 |
| &nbsp;&nbsp;Sweden — 2.31% | &nbsp;&nbsp;Sweden — 2.31% | &nbsp;&nbsp;Sweden — 2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Copco Class B | &nbsp;&nbsp;&nbsp;&nbsp;470867 | &nbsp;&nbsp; 6574562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Careium † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp; 824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Instalco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MIPS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36732 | &nbsp;&nbsp; 1402509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paradox Interactive | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 73 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Sweden (continued) | &nbsp;&nbsp;Sweden (continued) | &nbsp;&nbsp;Sweden (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken Class A | &nbsp;&nbsp;&nbsp;&nbsp;234348 | $3835158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Svenska Handelsbanken Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51725 | &nbsp;&nbsp; 582252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson ADR | &nbsp;&nbsp;&nbsp;&nbsp;788993 | &nbsp;&nbsp; 6122586 |
|  |  | &nbsp;&nbsp; 18518316 |
| &nbsp;&nbsp;Switzerland — 5.94% | &nbsp;&nbsp;Switzerland — 5.94% | &nbsp;&nbsp;Switzerland — 5.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABB | &nbsp;&nbsp;&nbsp;&nbsp;134424 | &nbsp;&nbsp; 6870864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cie Financiere Richemont Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23882 | &nbsp;&nbsp; 4128803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Logitech International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70957 | &nbsp;&nbsp; 5928723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nestle | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55085 | &nbsp;&nbsp; 5562670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On Holding Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49221 | &nbsp;&nbsp; 2161786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roche Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57013 | &nbsp;&nbsp; 18720783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schindler Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12204 | &nbsp;&nbsp; 3804525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zehnder Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9183 | &nbsp;&nbsp; 517951 |
|  |  | &nbsp;&nbsp; 47696105 |
| &nbsp;&nbsp;Taiwan — 7.12% | &nbsp;&nbsp;Taiwan — 7.12% | &nbsp;&nbsp;Taiwan — 7.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcadyan Technology | &nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp; 1517958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asustek Computer | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp; 6529749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AUO † | &nbsp;&nbsp;&nbsp;&nbsp;246000 | &nbsp;&nbsp; 99652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azurewave Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp; 24143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Airlines | 1580000 | &nbsp;&nbsp; 1070703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ChipMOS Technologies | 1161000 | &nbsp;&nbsp; 1014050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compal Electronics | &nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp; 225427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elan Microelectronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp; 188420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elite Advanced Laser † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp; 21233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eMemory Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 137038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ennoconn | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp; 399895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eva Airways | &nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp; 384708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evergreen Marine Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;458000 | &nbsp;&nbsp; 3041608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everlight Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp; 145179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Games System | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp; 1464830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ITE Technology | &nbsp;&nbsp;&nbsp;&nbsp;136000 | &nbsp;&nbsp; 571403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keystone Microtech | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp; 69046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MediaTek | &nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp; 6782019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp; 256065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novatek Microelectronics | &nbsp;&nbsp;&nbsp;&nbsp;167000 | &nbsp;&nbsp; 2741209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nuvoton Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp; 65272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegatron | &nbsp;&nbsp;&nbsp;&nbsp;263000 | &nbsp;&nbsp; 664580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pixart Imaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp; 174625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pou Chen | &nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp; 347658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radiant Opto-Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp; 59634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realtek Semiconductor | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp; 2898336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silicon Motion Technology ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181 | &nbsp;&nbsp; 110271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sitronix Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp; 115955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sonix Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp; 23372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Systex | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp; 19050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;898000 | &nbsp;&nbsp; 24612002 |

---

&nbsp;&nbsp;&nbsp;&nbsp;55

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Taiwan (continued) | &nbsp;&nbsp;Taiwan (continued) | &nbsp;&nbsp;Taiwan (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ventec International Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | $79259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wan Hai Lines | &nbsp;&nbsp;&nbsp;&nbsp;374000 | &nbsp;&nbsp; 880861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weblink International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp; 42015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yang Ming Marine Transport | &nbsp;&nbsp;&nbsp;&nbsp;199000 | &nbsp;&nbsp; 445918 |
|  |  | &nbsp;&nbsp; 57223143 |
| &nbsp;&nbsp;Thailand — 0.86% | &nbsp;&nbsp;Thailand — 0.86% | &nbsp;&nbsp;Thailand — 0.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bangkok Bank NVDR | &nbsp;&nbsp;&nbsp;&nbsp;629400 | &nbsp;&nbsp; 2736522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kasikornbank NVDR | &nbsp;&nbsp;&nbsp;&nbsp;141247 | &nbsp;&nbsp; 672407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Krung Thai Bank NVDR | &nbsp;&nbsp;&nbsp;&nbsp;430800 | &nbsp;&nbsp; 306036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PETCHSRIVICHAI ENTERPRISE NVDR † | &nbsp;&nbsp;&nbsp;&nbsp;404000 | &nbsp;&nbsp; 33344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTT Exploration & Production NVDR | &nbsp;&nbsp;&nbsp;&nbsp;905000 | &nbsp;&nbsp; 3107811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Susco NVDR | &nbsp;&nbsp;&nbsp;&nbsp;219300 | &nbsp;&nbsp; 18746 |
|  |  | &nbsp;&nbsp; 6874866 |
| &nbsp;&nbsp;Türkiye — 0.01% | &nbsp;&nbsp;Türkiye — 0.01% | &nbsp;&nbsp;Türkiye — 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teknosa Ic Ve Dis Ticaret † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70190 | &nbsp;&nbsp; 49978 |
|  |  | &nbsp;&nbsp; 49978 |
| &nbsp;&nbsp;Ukraine — 0.03% | &nbsp;&nbsp;Ukraine — 0.03% | &nbsp;&nbsp;Ukraine — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferrexpo † | &nbsp;&nbsp;&nbsp;&nbsp;399291 | &nbsp;&nbsp; 283681 |
|  |  | &nbsp;&nbsp; 283681 |
| &nbsp;&nbsp;United Arab Emirates — 1.65% | &nbsp;&nbsp;United Arab Emirates — 1.65% | &nbsp;&nbsp;United Arab Emirates — 1.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;502384 | &nbsp;&nbsp; 1488862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADNOC Drilling PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19024 | &nbsp;&nbsp; 26622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adnoc Gas | &nbsp;&nbsp;&nbsp;&nbsp;569144 | &nbsp;&nbsp; 494752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aldar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;372801 | &nbsp;&nbsp; 851354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;395091 | &nbsp;&nbsp; 769020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 1850414 | &nbsp;&nbsp; 6701328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;344711 | &nbsp;&nbsp; 1895770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;147191 | &nbsp;&nbsp; 553820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orascom Construction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp; 7709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salik PJSC | &nbsp;&nbsp;&nbsp;&nbsp;352005 | &nbsp;&nbsp; 480486 |
|  |  | &nbsp;&nbsp; 13269723 |
| &nbsp;&nbsp;United Kingdom — 2.95% | &nbsp;&nbsp;United Kingdom — 2.95% | &nbsp;&nbsp;United Kingdom — 2.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AJ Bell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5283 | &nbsp;&nbsp; 27434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B&M European Value Retail | &nbsp;&nbsp;&nbsp;&nbsp;528084 | &nbsp;&nbsp; 1776325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;&nbsp;403067 | &nbsp;&nbsp; 1498465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays ADR | &nbsp;&nbsp;&nbsp;&nbsp;229334 | &nbsp;&nbsp; 3522570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centrica | &nbsp;&nbsp;&nbsp;&nbsp;955870 | &nbsp;&nbsp; 1844092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costain Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9855 | &nbsp;&nbsp; 13430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gamma Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14726 | &nbsp;&nbsp; 230550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gem Diamonds † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5047 | &nbsp;&nbsp; 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greggs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Consolidated Airlines Group | &nbsp;&nbsp;&nbsp;&nbsp;667092 | &nbsp;&nbsp; 2247356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investec | &nbsp;&nbsp;&nbsp;&nbsp;289188 | &nbsp;&nbsp; 1796483 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;United Kingdom (continued) | &nbsp;&nbsp;United Kingdom (continued) | &nbsp;&nbsp;United Kingdom (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NatWest Group | &nbsp;&nbsp;&nbsp;&nbsp;426077 | $2486639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oxford Nanopore Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;426007 | &nbsp;&nbsp; 562951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polar Capital Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20918 | &nbsp;&nbsp; 115379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sage Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69010 | &nbsp;&nbsp; 1075964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Chartered | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57911 | &nbsp;&nbsp; 852420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unilever | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95393 | &nbsp;&nbsp; 5680622 |
|  |  | &nbsp;&nbsp; 23731643 |
| &nbsp;&nbsp;United States — 1.90% | &nbsp;&nbsp;United States — 1.90% | &nbsp;&nbsp;United States — 1.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlassian Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832 | &nbsp;&nbsp; 600979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GSK ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22478 | &nbsp;&nbsp; 870798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBS | &nbsp;&nbsp;&nbsp;&nbsp;171300 | &nbsp;&nbsp; 1235268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monday.com † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7636 | &nbsp;&nbsp; 1856770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19521 | &nbsp;&nbsp; 10737135 |
|  |  | &nbsp;&nbsp; 15300950 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $713,955,889)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $713,955,889)** | &nbsp;&nbsp;**793787325** |
| &nbsp;&nbsp;**Preferred Stocks — 0.11%Δ** | &nbsp;&nbsp;**Preferred Stocks — 0.11%Δ** | &nbsp;&nbsp;**Preferred Stocks — 0.11%Δ** |
| &nbsp;&nbsp;Brazil — 0.11% | &nbsp;&nbsp;Brazil — 0.11% | &nbsp;&nbsp;Brazil — 0.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cia Energetica de Minas Gerais 13.82% ω | &nbsp;&nbsp;&nbsp;&nbsp;285300 | &nbsp;&nbsp; 512960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerdau 5.21% ω | &nbsp;&nbsp;&nbsp;&nbsp;130100 | &nbsp;&nbsp; 370252 |
| &nbsp;&nbsp;&nbsp;**Total Preferred Stocks<br> (cost $1,086,253)** | &nbsp;&nbsp;&nbsp;**Total Preferred Stocks<br> (cost $1,086,253)** | &nbsp;&nbsp; **883212** |
| &nbsp;&nbsp;**Exchange-Traded Funds — 0.22%** | &nbsp;&nbsp;**Exchange-Traded Funds — 0.22%** | &nbsp;&nbsp;**Exchange-Traded Funds — 0.22%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI Canada ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp; 142747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11232 | &nbsp;&nbsp; 917991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15592 | &nbsp;&nbsp; 681371 |
| &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Funds<br> (cost $1,771,458)** | &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Funds<br> (cost $1,771,458)** | &nbsp;&nbsp; **1742109** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Warrants — 0.00%Δ** | &nbsp;&nbsp;**Warrants — 0.00%Δ** | &nbsp;&nbsp;**Warrants — 0.00%Δ** |
| &nbsp;&nbsp;Canada — 0.00% | &nbsp;&nbsp;Canada — 0.00% | &nbsp;&nbsp;Canada — 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Software =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp;**Total Warrants<br> (cost $0)** | &nbsp;&nbsp;&nbsp;**Total Warrants<br> (cost $0)** | **0** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Short-Term Investments — 0.19%** | &nbsp;&nbsp;**Short-Term Investments — 0.19%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 0.19% | &nbsp;&nbsp;Money Market Mutual Funds — 0.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | &nbsp;&nbsp;&nbsp;&nbsp;381586 |

---

56&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number ofshares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | &nbsp;&nbsp;&nbsp;&nbsp;381587 | $381587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | &nbsp;&nbsp;&nbsp;&nbsp;381587 | &nbsp;&nbsp; 381587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | &nbsp;&nbsp;&nbsp;&nbsp;381587 | &nbsp;&nbsp; 381587 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $1,526,347)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $1,526,347)** | &nbsp;&nbsp; **1526347** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.34%<br> (cost $718,339,947)** |  | **$797938993** |

---

---

| |
|:---|
| Securities have been classified by country of risk. |
| Non-income producing security. |
| The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in "Notes to financial statements." |
| Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At March 31, 2025, the aggregate value of restricted securities was $122,874, which represented 0.02% of the Fund's net assets. See Note 10 in "Notes to financial statements" and the table below for additional details on restricted securities. |
| Perpetual security with no stated maturity date. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Restricted Securities** |  |  |  |
| Investments | Date of Acquisition | Cost | Value |
| Acevector Limited | &nbsp;&nbsp;&nbsp;&nbsp;5/7/14 | $999482 | $92318 |
| Acevector Limited Series G | 10/29/14 | &nbsp;&nbsp;&nbsp;&nbsp;396443 | &nbsp;&nbsp;&nbsp;&nbsp;30556 |
| Total |  | $1395925 | $122874 |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| EAFE – Europe, Australasia, and Far East |
| ETF – Exchange-Traded Fund |
| JSC – Joint Stock Company |
| MSCI – Morgan Stanley Capital International |
| NVDR – Non-Voting Depositary Receipt |

---

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| PJSC – Private Joint Stock Company |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;57

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Growth Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 99.04%♦** | &nbsp;&nbsp;**Common Stocks — 99.04%♦** | &nbsp;&nbsp;**Common Stocks — 99.04%♦** |
| &nbsp;&nbsp;Communication Services — 14.41% | &nbsp;&nbsp;Communication Services — 14.41% | &nbsp;&nbsp;Communication Services — 14.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A | &nbsp;&nbsp;&nbsp;&nbsp;393224 | $60808159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class C | &nbsp;&nbsp;&nbsp;&nbsp;367337 | &nbsp;&nbsp; 57389060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iridium Communications | &nbsp;&nbsp;&nbsp;&nbsp;20296 | &nbsp;&nbsp; 554487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms Class A | &nbsp;&nbsp;&nbsp;&nbsp;138968 | &nbsp;&nbsp; 80095596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix † | &nbsp;&nbsp;&nbsp;&nbsp;67707 | &nbsp;&nbsp; 63138809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexstar Media Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 35844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology † | &nbsp;&nbsp;&nbsp;&nbsp;11071 | &nbsp;&nbsp; 6089382 |
|  |  | &nbsp;&nbsp; 268111337 |
| &nbsp;&nbsp;Consumer Discretionary — 14.15% | &nbsp;&nbsp;Consumer Discretionary — 14.15% | &nbsp;&nbsp;Consumer Discretionary — 14.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | &nbsp;&nbsp;&nbsp;&nbsp;652988 | &nbsp;&nbsp; 124237497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3681 | &nbsp;&nbsp; 16958036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill † | &nbsp;&nbsp;&nbsp;&nbsp;540023 | &nbsp;&nbsp; 27114555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DoorDash Class A † | &nbsp;&nbsp;&nbsp;&nbsp;20120 | &nbsp;&nbsp; 3677332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia Group | &nbsp;&nbsp;&nbsp;&nbsp;70773 | &nbsp;&nbsp; 11896941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand Canyon Education † | &nbsp;&nbsp;&nbsp;&nbsp;36285 | &nbsp;&nbsp; 6278031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H&R Block | &nbsp;&nbsp;&nbsp;&nbsp;57747 | &nbsp;&nbsp; 3170888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp; 298323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lululemon Athletica † | &nbsp;&nbsp;&nbsp;&nbsp;44523 | &nbsp;&nbsp; 12602680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magic Leap Class A =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058 | &nbsp;&nbsp; 2919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;51045 | &nbsp;&nbsp; 967813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4657 | &nbsp;&nbsp; 1482556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tesla † | &nbsp;&nbsp;&nbsp;&nbsp;184244 | &nbsp;&nbsp; 47748675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wingstop | &nbsp;&nbsp;&nbsp;&nbsp;29715 | &nbsp;&nbsp; 6703110 |
|  |  | &nbsp;&nbsp; 263139356 |
| &nbsp;&nbsp;Consumer Staples — 2.42% | &nbsp;&nbsp;Consumer Staples — 2.42% | &nbsp;&nbsp;Consumer Staples — 2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8247 | &nbsp;&nbsp; 590650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands Class A | &nbsp;&nbsp;&nbsp;&nbsp;21856 | &nbsp;&nbsp; 4011013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;37143 | &nbsp;&nbsp; 35129107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo | &nbsp;&nbsp;&nbsp;&nbsp;34793 | &nbsp;&nbsp; 5216862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 11256 |
|  |  | &nbsp;&nbsp; 44958888 |
| &nbsp;&nbsp;Energy — 1.09% | &nbsp;&nbsp;Energy — 1.09% | &nbsp;&nbsp;Energy — 1.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy | &nbsp;&nbsp;&nbsp;&nbsp;17838 | &nbsp;&nbsp; 4127713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources | &nbsp;&nbsp;&nbsp;&nbsp;51717 | &nbsp;&nbsp; 6632188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;112736 | &nbsp;&nbsp; 4712365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources | &nbsp;&nbsp;&nbsp;&nbsp;23899 | &nbsp;&nbsp; 4791033 |
|  |  | &nbsp;&nbsp; 20263299 |
| &nbsp;&nbsp;Financials — 10.73% | &nbsp;&nbsp;Financials — 10.73% | &nbsp;&nbsp;Financials — 10.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allstate | &nbsp;&nbsp;&nbsp;&nbsp;16343 | &nbsp;&nbsp; 3384145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;&nbsp;13386 | &nbsp;&nbsp; 3601503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone | &nbsp;&nbsp;&nbsp;&nbsp;79838 | &nbsp;&nbsp; 11159756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Block † | &nbsp;&nbsp;&nbsp;&nbsp;63263 | &nbsp;&nbsp; 3437079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab | &nbsp;&nbsp;&nbsp;&nbsp;203368 | &nbsp;&nbsp; 15919647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7978 | &nbsp;&nbsp; 1374051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5678 | &nbsp;&nbsp; 1253873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interactive Brokers Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;36406 | &nbsp;&nbsp; 6028469 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard Class A | &nbsp;&nbsp;&nbsp;&nbsp;114175 | $62581601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody's | &nbsp;&nbsp;&nbsp;&nbsp;25475 | &nbsp;&nbsp; 11863453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSCI | &nbsp;&nbsp;&nbsp;&nbsp;17288 | &nbsp;&nbsp; 9776364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Popular | &nbsp;&nbsp;&nbsp;&nbsp;22687 | &nbsp;&nbsp; 2095598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Primerica | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191 | &nbsp;&nbsp; 907935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progressive | &nbsp;&nbsp;&nbsp;&nbsp;16925 | &nbsp;&nbsp; 4789944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryan Specialty Holdings | &nbsp;&nbsp;&nbsp;&nbsp;71978 | &nbsp;&nbsp; 5317015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tradeweb Markets Class A | &nbsp;&nbsp;&nbsp;&nbsp;83441 | &nbsp;&nbsp; 12387651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa Class A | &nbsp;&nbsp;&nbsp;&nbsp;124626 | &nbsp;&nbsp; 43676428 |
|  |  | &nbsp;&nbsp; 199554512 |
| &nbsp;&nbsp;Healthcare — 9.01% | &nbsp;&nbsp;Healthcare — 9.01% | &nbsp;&nbsp;Healthcare — 9.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie | &nbsp;&nbsp;&nbsp;&nbsp;54930 | &nbsp;&nbsp; 11508934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;27364 | &nbsp;&nbsp; 7388827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen | &nbsp;&nbsp;&nbsp;&nbsp;23709 | &nbsp;&nbsp; 7386539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6297 | &nbsp;&nbsp; 2071713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dexcom † | &nbsp;&nbsp;&nbsp;&nbsp;37548 | &nbsp;&nbsp; 2564153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doximity Class A † | &nbsp;&nbsp;&nbsp;&nbsp;97435 | &nbsp;&nbsp; 5654153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences † | &nbsp;&nbsp;&nbsp;&nbsp;28516 | &nbsp;&nbsp; 2066840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;35777 | &nbsp;&nbsp; 29548582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genmab † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4476 | &nbsp;&nbsp; 869296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories † | &nbsp;&nbsp;&nbsp;&nbsp;10844 | &nbsp;&nbsp; 4553938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspire Medical Systems † | &nbsp;&nbsp;&nbsp;&nbsp;26224 | &nbsp;&nbsp; 4176959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insulet † | &nbsp;&nbsp;&nbsp;&nbsp;19540 | &nbsp;&nbsp; 5131399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical † | &nbsp;&nbsp;&nbsp;&nbsp;39843 | &nbsp;&nbsp; 19733043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co. | &nbsp;&nbsp;&nbsp;&nbsp;159367 | &nbsp;&nbsp; 14304782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natera † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp; 139147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penumbra † | &nbsp;&nbsp;&nbsp;&nbsp;21843 | &nbsp;&nbsp; 5841037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;12958 | &nbsp;&nbsp; 8218352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ResMed | &nbsp;&nbsp;&nbsp;&nbsp;61678 | &nbsp;&nbsp; 13806620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | &nbsp;&nbsp;&nbsp;&nbsp;21475 | &nbsp;&nbsp; 11247531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veeva Systems Class A † | &nbsp;&nbsp;&nbsp;&nbsp;36730 | &nbsp;&nbsp; 8507770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waters † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010 | &nbsp;&nbsp; 2952246 |
|  |  | &nbsp;&nbsp; 167671861 |
| &nbsp;&nbsp;Industrials — 3.29% | &nbsp;&nbsp;Industrials — 3.29% | &nbsp;&nbsp;Industrials — 3.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acuity | &nbsp;&nbsp;&nbsp;&nbsp;19975 | &nbsp;&nbsp; 5260416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Drainage Systems | &nbsp;&nbsp;&nbsp;&nbsp;32412 | &nbsp;&nbsp; 3521564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Armstrong World Industries | &nbsp;&nbsp;&nbsp;&nbsp;41464 | &nbsp;&nbsp; 5841448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automatic Data Processing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8705 | &nbsp;&nbsp; 2659639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cintas | &nbsp;&nbsp;&nbsp;&nbsp;14288 | &nbsp;&nbsp; 2936613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copart † | &nbsp;&nbsp;&nbsp;&nbsp;61044 | &nbsp;&nbsp; 3454480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Donaldson | &nbsp;&nbsp;&nbsp;&nbsp;30358 | &nbsp;&nbsp; 2035807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMCOR Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp; 2590737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortive | &nbsp;&nbsp;&nbsp;&nbsp;66473 | &nbsp;&nbsp; 4864494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEICO Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555 | &nbsp;&nbsp; 749998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howmet Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;34543 | &nbsp;&nbsp; 4481263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Controls International | &nbsp;&nbsp;&nbsp;&nbsp;32146 | &nbsp;&nbsp; 2575216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lockheed Martin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796 | &nbsp;&nbsp; 1249001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lyft Class A † | &nbsp;&nbsp;&nbsp;&nbsp;75083 | &nbsp;&nbsp; 891235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nordson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9015 | &nbsp;&nbsp; 1818506 |

---

&nbsp;&nbsp;&nbsp;&nbsp;58

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trane Technologies | &nbsp;&nbsp;&nbsp;&nbsp;27205 | $9165909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312 | &nbsp;&nbsp; 95592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertiv Holdings Class A | &nbsp;&nbsp;&nbsp;&nbsp;33159 | &nbsp;&nbsp; 2394080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies | &nbsp;&nbsp;&nbsp;&nbsp;25611 | &nbsp;&nbsp; 4644555 |
|  |  | &nbsp;&nbsp; 61230553 |
| &nbsp;&nbsp;Information Technology — 42.63% | &nbsp;&nbsp;Information Technology — 42.63% | &nbsp;&nbsp;Information Technology — 42.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Class A | &nbsp;&nbsp;&nbsp;&nbsp;148268 | &nbsp;&nbsp; 9724898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices | &nbsp;&nbsp;&nbsp;&nbsp;47722 | &nbsp;&nbsp; 9624096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appfolio Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp; 144474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple | &nbsp;&nbsp;&nbsp;&nbsp;955206 | &nbsp;&nbsp; 212179909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials | &nbsp;&nbsp;&nbsp;&nbsp;95566 | &nbsp;&nbsp; 13868538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AppLovin Class A † | &nbsp;&nbsp;&nbsp;&nbsp;12175 | &nbsp;&nbsp; 3226010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arista Networks † | &nbsp;&nbsp;&nbsp;&nbsp;31112 | &nbsp;&nbsp; 2410558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;11457 | &nbsp;&nbsp; 7507403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlassian Class A † | &nbsp;&nbsp;&nbsp;&nbsp;11264 | &nbsp;&nbsp; 2390333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;&nbsp;255834 | &nbsp;&nbsp; 42834287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloudflare Class A † | &nbsp;&nbsp;&nbsp;&nbsp;50316 | &nbsp;&nbsp; 5670110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Datadog Class A † | &nbsp;&nbsp;&nbsp;&nbsp;59833 | &nbsp;&nbsp; 5936032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Docusign † | &nbsp;&nbsp;&nbsp;&nbsp;105756 | &nbsp;&nbsp; 8608538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dynatrace † | &nbsp;&nbsp;&nbsp;&nbsp;158783 | &nbsp;&nbsp; 7486619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair Isaac † | &nbsp;&nbsp;&nbsp;&nbsp;10112 | &nbsp;&nbsp; 18648146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortinet † | &nbsp;&nbsp;&nbsp;&nbsp;50622 | &nbsp;&nbsp; 4872874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gartner † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8694 | &nbsp;&nbsp; 3649220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keyence | &nbsp;&nbsp;&nbsp;&nbsp;10900 | &nbsp;&nbsp; 4249830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KLA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111 | &nbsp;&nbsp; 1435058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lam Research | &nbsp;&nbsp;&nbsp;&nbsp;20549 | &nbsp;&nbsp; 1493912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lattice Semiconductor † | &nbsp;&nbsp;&nbsp;&nbsp;22363 | &nbsp;&nbsp; 1172939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | &nbsp;&nbsp;&nbsp;&nbsp;410383 | &nbsp;&nbsp; 154053674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorola Solutions | &nbsp;&nbsp;&nbsp;&nbsp;26049 | &nbsp;&nbsp; 11404513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutanix Class A † | &nbsp;&nbsp;&nbsp;&nbsp;19409 | &nbsp;&nbsp; 1354942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 1746287 | &nbsp;&nbsp; 189262585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Okta † | &nbsp;&nbsp;&nbsp;&nbsp;56891 | &nbsp;&nbsp; 5986071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palantir Technologies Class A † | &nbsp;&nbsp;&nbsp;&nbsp;67405 | &nbsp;&nbsp; 5688982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM | &nbsp;&nbsp;&nbsp;&nbsp;61236 | &nbsp;&nbsp; 9406462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salesforce | &nbsp;&nbsp;&nbsp;&nbsp;76048 | &nbsp;&nbsp; 20408241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowflake Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9401 | &nbsp;&nbsp; 1374050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synopsys † | &nbsp;&nbsp;&nbsp;&nbsp;15057 | &nbsp;&nbsp; 6457194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyler Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862 | &nbsp;&nbsp; 2826718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Workday Class A † | &nbsp;&nbsp;&nbsp;&nbsp;25737 | &nbsp;&nbsp; 6010362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zscaler † | &nbsp;&nbsp;&nbsp;&nbsp;57976 | &nbsp;&nbsp; 11503598 |
|  |  | &nbsp;&nbsp; 792871176 |
| &nbsp;&nbsp;Materials — 0.64% | &nbsp;&nbsp;Materials — 0.64% | &nbsp;&nbsp;Materials — 0.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ecolab | &nbsp;&nbsp;&nbsp;&nbsp;32480 | &nbsp;&nbsp; 8234329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Copper | &nbsp;&nbsp;&nbsp;&nbsp;39904 | &nbsp;&nbsp; 3729428 |
|  |  | &nbsp;&nbsp; 11963757 |
| &nbsp;&nbsp;Real Estate — 0.59% | &nbsp;&nbsp;Real Estate — 0.59% | &nbsp;&nbsp;Real Estate — 0.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9572 | &nbsp;&nbsp; 2864804 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group | &nbsp;&nbsp;&nbsp;&nbsp;48522 | $8058534 |
|  |  | &nbsp;&nbsp; 10923338 |
| &nbsp;&nbsp;Utilities — 0.08% | &nbsp;&nbsp;Utilities — 0.08% | &nbsp;&nbsp;Utilities — 0.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;14917 | &nbsp;&nbsp; 1423977 |
|  |  | &nbsp;&nbsp; 1423977 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,212,687,413)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,212,687,413)** | &nbsp;&nbsp;**1842112054** |
| &nbsp;&nbsp;**Exchange-Traded Fund — 0.24%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.24%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.24%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Russell 1000 Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;12382 | &nbsp;&nbsp; 4471017 |
| &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $4,818,432)** | &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $4,818,432)** | &nbsp;&nbsp; **4471017** |
| &nbsp;&nbsp;**Rights — 0.00%** | &nbsp;&nbsp;**Rights — 0.00%** | &nbsp;&nbsp;**Rights — 0.00%** |
| &nbsp;&nbsp;Healthcare — 0.00% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABIOMED =, † | &nbsp;&nbsp;&nbsp;&nbsp;15699 | &nbsp;&nbsp; 16013 |
| &nbsp;&nbsp;&nbsp;**Total Rights<br> (cost $0)** | &nbsp;&nbsp;&nbsp;**Total Rights<br> (cost $0)** | &nbsp;&nbsp; **16013** |
| &nbsp;&nbsp;**Short-Term Investments — 0.66%** | &nbsp;&nbsp;**Short-Term Investments — 0.66%** | &nbsp;&nbsp;**Short-Term Investments — 0.66%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 0.66% | &nbsp;&nbsp;Money Market Mutual Funds — 0.66% | &nbsp;&nbsp;Money Market Mutual Funds — 0.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | 3066247 | &nbsp;&nbsp; 3066247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 3066248 | &nbsp;&nbsp; 3066248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | 3066247 | &nbsp;&nbsp; 3066247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | 3066248 | &nbsp;&nbsp; 3066248 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $12,264,990)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $12,264,990)** | &nbsp;&nbsp; **12264990** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.94%<br> (cost $1,229,770,835)** |  | **$1858864074** |

---

♦ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

† Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;59

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Growth Fund

= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in "Notes to financial statements."

The following forward foreign currency exchange contracts were outstanding at March 31, 2025:<sup>1</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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** |  |  |
| Counterparty | Currency to<br> Receive (Deliver) | Currency to<br> Receive (Deliver) | In Exchange For | In Exchange For | Settlement<br> Date | Unrealized<br> Appreciation |
| MS | JPY | (232447950) | USD | 1569089 | 6/27/25 | $3905 |

---

The use of forward foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The forward foreign currency exchange contracts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund's net assets.

<sup>1</sup> See Note 7 in "Notes to financial statements."

---

| |
|:---|
| **Summary of abbreviations:** |
| ETF – Exchange-Traded Fund |
| MS – Morgan Stanley |
| MSCI – Morgan Stanley Capital International |

---

---

| |
|:---|
| **Summary of currencies:** |
| JPY – Japanese Yen |
| USD – US Dollar |

---

See accompanying notes, which are an integral part of the financial statements.

60&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Value Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 98.87%♦** | &nbsp;&nbsp;**Common Stocks — 98.87%♦** | &nbsp;&nbsp;**Common Stocks — 98.87%♦** |
| &nbsp;&nbsp;Communication Services — 3.64% | &nbsp;&nbsp;Communication Services — 3.64% | &nbsp;&nbsp;Communication Services — 3.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A | &nbsp;&nbsp;&nbsp;&nbsp;59393 | $9184534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Class A | &nbsp;&nbsp;&nbsp;&nbsp;251227 | &nbsp;&nbsp; 9270276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fox Class A | &nbsp;&nbsp;&nbsp;&nbsp;209699 | &nbsp;&nbsp; 11868963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms Class A | &nbsp;&nbsp;&nbsp;&nbsp;20167 | &nbsp;&nbsp; 11623452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verizon Communications | &nbsp;&nbsp;&nbsp;&nbsp;219484 | &nbsp;&nbsp; 9955794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walt Disney | &nbsp;&nbsp;&nbsp;&nbsp;153758 | &nbsp;&nbsp; 15175915 |
|  |  | &nbsp;&nbsp; 67078934 |
| &nbsp;&nbsp;Consumer Discretionary — 3.96% | &nbsp;&nbsp;Consumer Discretionary — 3.96% | &nbsp;&nbsp;Consumer Discretionary — 3.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Darden Restaurants | &nbsp;&nbsp;&nbsp;&nbsp;57177 | &nbsp;&nbsp; 11879093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Motors | &nbsp;&nbsp;&nbsp;&nbsp;182625 | &nbsp;&nbsp; 8588854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's | &nbsp;&nbsp;&nbsp;&nbsp;137522 | &nbsp;&nbsp; 32074256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marriott International Class A | &nbsp;&nbsp;&nbsp;&nbsp;46445 | &nbsp;&nbsp; 11063199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX | &nbsp;&nbsp;&nbsp;&nbsp;76877 | &nbsp;&nbsp; 9363619 |
|  |  | &nbsp;&nbsp; 72969021 |
| &nbsp;&nbsp;Consumer Staples — 6.27% | &nbsp;&nbsp;Consumer Staples — 6.27% | &nbsp;&nbsp;Consumer Staples — 6.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diageo | &nbsp;&nbsp;&nbsp;&nbsp;288689 | &nbsp;&nbsp; 7512353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kenvue | &nbsp;&nbsp;&nbsp;&nbsp;426952 | &nbsp;&nbsp; 10238309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimberly-Clark | &nbsp;&nbsp;&nbsp;&nbsp;47504 | &nbsp;&nbsp; 6756019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mondelez International Class A | &nbsp;&nbsp;&nbsp;&nbsp;364957 | &nbsp;&nbsp; 24762332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nestle | &nbsp;&nbsp;&nbsp;&nbsp;123259 | &nbsp;&nbsp;&nbsp; 12447111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo | &nbsp;&nbsp;&nbsp;&nbsp;143280 | &nbsp;&nbsp; 21483403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Procter & Gamble | &nbsp;&nbsp;&nbsp;&nbsp;77564 | &nbsp;&nbsp; 13218457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reckitt Benckiser Group | &nbsp;&nbsp;&nbsp;&nbsp;84681 | &nbsp;&nbsp; 5720924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Target | &nbsp;&nbsp;&nbsp;&nbsp;68086 | &nbsp;&nbsp; 7105455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyson Foods Class A | &nbsp;&nbsp;&nbsp;&nbsp;97510 | &nbsp;&nbsp; 6222113 |
|  |  | &nbsp;&nbsp; 115466476 |
| &nbsp;&nbsp;Energy — 7.15% | &nbsp;&nbsp;Energy — 7.15% | &nbsp;&nbsp;Energy — 7.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron | &nbsp;&nbsp;&nbsp;&nbsp;82558 | &nbsp;&nbsp; 13811128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;316497 | &nbsp;&nbsp; 33238515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources | &nbsp;&nbsp;&nbsp;&nbsp;144728 | &nbsp;&nbsp; 18559919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand Energy | &nbsp;&nbsp;&nbsp;&nbsp;47120 | &nbsp;&nbsp; 5245398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil | &nbsp;&nbsp;&nbsp;&nbsp;348393 | &nbsp;&nbsp; 41434379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;55368 | &nbsp;&nbsp; 6836841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;298936 | &nbsp;&nbsp; 12495525 |
|  |  | &nbsp;&nbsp; 131621705 |
| &nbsp;&nbsp;Financials — 26.39% | &nbsp;&nbsp;Financials — 26.39% | &nbsp;&nbsp;Financials — 26.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;&nbsp;109822 | &nbsp;&nbsp; 29547609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon Class A | &nbsp;&nbsp;&nbsp;&nbsp;48715 | &nbsp;&nbsp; 19441669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America | &nbsp;&nbsp;&nbsp;&nbsp;418362 | &nbsp;&nbsp; 17458246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway Class B † | &nbsp;&nbsp;&nbsp;&nbsp;39786 | &nbsp;&nbsp; 21189228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackrock | &nbsp;&nbsp;&nbsp;&nbsp;30926 | &nbsp;&nbsp; 29270841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb | &nbsp;&nbsp;&nbsp;&nbsp;56234 | &nbsp;&nbsp; 16982106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup | &nbsp;&nbsp;&nbsp;&nbsp;188661 | &nbsp;&nbsp; 13393044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group | &nbsp;&nbsp;&nbsp;&nbsp;20195 | &nbsp;&nbsp; 11032327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hartford Insurance Group | &nbsp;&nbsp;&nbsp;&nbsp;135544 | &nbsp;&nbsp; 16770859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange | &nbsp;&nbsp;&nbsp;&nbsp;100684 | &nbsp;&nbsp; 17367990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;309030 | &nbsp;&nbsp; 75805059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR & Co. | &nbsp;&nbsp;&nbsp;&nbsp;112151 | &nbsp;&nbsp; 12965777 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan | &nbsp;&nbsp;&nbsp;&nbsp;97562 | $23808055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;159358 | &nbsp;&nbsp; 18592298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nasdaq | &nbsp;&nbsp;&nbsp;&nbsp;206640 | &nbsp;&nbsp; 15675710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;135406 | &nbsp;&nbsp; 8835242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Financial Services Group | &nbsp;&nbsp;&nbsp;&nbsp;85625 | &nbsp;&nbsp; 15050306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progressive | &nbsp;&nbsp;&nbsp;&nbsp;147384 | &nbsp;&nbsp; 41711146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prudential Financial | &nbsp;&nbsp;&nbsp;&nbsp;47555 | &nbsp;&nbsp; 5310942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P Global | &nbsp;&nbsp;&nbsp;&nbsp;22312 | &nbsp;&nbsp; 11336727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street | &nbsp;&nbsp;&nbsp;&nbsp;46816 | &nbsp;&nbsp; 4191436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travelers | &nbsp;&nbsp;&nbsp;&nbsp;118221 | &nbsp;&nbsp; 31264726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truist Financial | &nbsp;&nbsp;&nbsp;&nbsp;88962 | &nbsp;&nbsp; 3660786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;350691 | &nbsp;&nbsp; 25176107 |
|  |  | &nbsp;&nbsp; 485838236 |
| &nbsp;&nbsp;Healthcare — 16.70% | &nbsp;&nbsp;Healthcare — 16.70% | &nbsp;&nbsp;Healthcare — 16.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;262169 | &nbsp;&nbsp; 34776718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie | &nbsp;&nbsp;&nbsp;&nbsp;153620 | &nbsp;&nbsp; 32186462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen | &nbsp;&nbsp;&nbsp;&nbsp;29622 | &nbsp;&nbsp; 9228734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avantor † | &nbsp;&nbsp;&nbsp;&nbsp;263204 | &nbsp;&nbsp; 4266537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | &nbsp;&nbsp;&nbsp;&nbsp;51152 | &nbsp;&nbsp; 11716877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific † | &nbsp;&nbsp;&nbsp;&nbsp;191127 | &nbsp;&nbsp; 19280892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cencora | &nbsp;&nbsp;&nbsp;&nbsp;41016 | &nbsp;&nbsp; 11406139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;92960 | &nbsp;&nbsp; 30583840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health | &nbsp;&nbsp;&nbsp;&nbsp;28031 | &nbsp;&nbsp; 12192364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences | &nbsp;&nbsp;&nbsp;&nbsp;133535 | &nbsp;&nbsp; 14962597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;188673 | &nbsp;&nbsp; 31289530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McKesson | &nbsp;&nbsp;&nbsp;&nbsp;43630 | &nbsp;&nbsp; 29362554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic | &nbsp;&nbsp;&nbsp;&nbsp;19543 | &nbsp;&nbsp; 1756134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co. | &nbsp;&nbsp;&nbsp;&nbsp;181864 | &nbsp;&nbsp; 16324113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer | &nbsp;&nbsp;&nbsp;&nbsp;503349 | &nbsp;&nbsp; 12754864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | &nbsp;&nbsp;&nbsp;&nbsp;25942 | &nbsp;&nbsp; 12908739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | &nbsp;&nbsp;&nbsp;&nbsp;42619 | &nbsp;&nbsp; 22321701 |
|  |  | &nbsp;&nbsp; 307318795 |
| &nbsp;&nbsp;Industrials — 15.35% | &nbsp;&nbsp;Industrials — 15.35% | &nbsp;&nbsp;Industrials — 15.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boeing † | &nbsp;&nbsp;&nbsp;&nbsp;109623 | &nbsp;&nbsp; 18696203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian National Railway | &nbsp;&nbsp;&nbsp;&nbsp;37828 | &nbsp;&nbsp; 3686717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carrier Global | &nbsp;&nbsp;&nbsp;&nbsp;179636 | &nbsp;&nbsp; 11388922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caterpillar | &nbsp;&nbsp;&nbsp;&nbsp;37013 | &nbsp;&nbsp; 12206887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSX | &nbsp;&nbsp;&nbsp;&nbsp;353609 | &nbsp;&nbsp; 10406713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delta Air Lines | &nbsp;&nbsp;&nbsp;&nbsp;227242 | &nbsp;&nbsp; 9907751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eaton | &nbsp;&nbsp;&nbsp;&nbsp;29948 | &nbsp;&nbsp; 8140765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equifax | &nbsp;&nbsp;&nbsp;&nbsp;36655 | &nbsp;&nbsp; 8927692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Dynamics | &nbsp;&nbsp;&nbsp;&nbsp;62761 | &nbsp;&nbsp; 17107393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Honeywell International | &nbsp;&nbsp;&nbsp;&nbsp;141499 | &nbsp;&nbsp; 29962413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Tool Works | &nbsp;&nbsp;&nbsp;&nbsp;35114 | &nbsp;&nbsp; 8708623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northrop Grumman | &nbsp;&nbsp;&nbsp;&nbsp;21911 | &nbsp;&nbsp; 11218651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Otis Worldwide | &nbsp;&nbsp;&nbsp;&nbsp;30413 | &nbsp;&nbsp; 3138622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;64417 | &nbsp;&nbsp; 9200036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PACCAR | &nbsp;&nbsp;&nbsp;&nbsp;109585 | &nbsp;&nbsp; 10670292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parker-Hannifin | &nbsp;&nbsp;&nbsp;&nbsp;27502 | &nbsp;&nbsp; 16717091 |

---

&nbsp;&nbsp;&nbsp;&nbsp;61

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Value Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Services | &nbsp;&nbsp;&nbsp;&nbsp;46621 | $11850126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockwell Automation | &nbsp;&nbsp;&nbsp;&nbsp;40345 | &nbsp;&nbsp; 10424341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RTX | &nbsp;&nbsp;&nbsp;&nbsp;294315 | &nbsp;&nbsp; 38984965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Textron | &nbsp;&nbsp;&nbsp;&nbsp;123064 | &nbsp;&nbsp; 8891374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trane Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6915 | &nbsp;&nbsp; 2329802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific | &nbsp;&nbsp;&nbsp;&nbsp;71135 | &nbsp;&nbsp; 16804932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WW Grainger | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312 | &nbsp;&nbsp; 3271693 |
|  |  | &nbsp;&nbsp; 282642004 |
| &nbsp;&nbsp;Information Technology — 7.29% | &nbsp;&nbsp;Information Technology — 7.29% | &nbsp;&nbsp;Information Technology — 7.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Class A | &nbsp;&nbsp;&nbsp;&nbsp;49270 | &nbsp;&nbsp; 15374211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices | &nbsp;&nbsp;&nbsp;&nbsp;78112 | &nbsp;&nbsp; 15752847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;&nbsp;53045 | &nbsp;&nbsp; 8881324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW | &nbsp;&nbsp;&nbsp;&nbsp;10068 | &nbsp;&nbsp; 1613498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems | &nbsp;&nbsp;&nbsp;&nbsp;260602 | &nbsp;&nbsp; 16081749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KLA | &nbsp;&nbsp;&nbsp;&nbsp;14423 | &nbsp;&nbsp; 9804755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Micron Technology | &nbsp;&nbsp;&nbsp;&nbsp;103950 | &nbsp;&nbsp; 9032216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | &nbsp;&nbsp;&nbsp;&nbsp;27385 | &nbsp;&nbsp; 10280055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorola Solutions | &nbsp;&nbsp;&nbsp;&nbsp;29786 | &nbsp;&nbsp; 13040609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NXP Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;51155 | &nbsp;&nbsp; 9722519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ON Semiconductor † | &nbsp;&nbsp;&nbsp;&nbsp;67594 | &nbsp;&nbsp; 2750400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;&nbsp;65502 | &nbsp;&nbsp; 9157835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Instruments | &nbsp;&nbsp;&nbsp;&nbsp;70589 | &nbsp;&nbsp; 12684843 |
|  |  | &nbsp;&nbsp; 134176861 |
| &nbsp;&nbsp;Materials — 3.16% | &nbsp;&nbsp;Materials — 3.16% | &nbsp;&nbsp;Materials — 3.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Products and Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;36127 | &nbsp;&nbsp; 10654575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corteva | &nbsp;&nbsp;&nbsp;&nbsp;83876 | &nbsp;&nbsp; 5278317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRH | &nbsp;&nbsp;&nbsp;&nbsp;42217 | &nbsp;&nbsp; 3713829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DuPont de Nemours | &nbsp;&nbsp;&nbsp;&nbsp;203030 | &nbsp;&nbsp; 15162280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freeport-McMoRan | &nbsp;&nbsp;&nbsp;&nbsp;222295 | &nbsp;&nbsp; 8416089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp; 10757925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams | &nbsp;&nbsp;&nbsp;&nbsp;11804 | &nbsp;&nbsp; 4121839 |
|  |  | &nbsp;&nbsp; 58104854 |
| &nbsp;&nbsp;Real Estate — 2.94% | &nbsp;&nbsp;Real Estate — 2.94% | &nbsp;&nbsp;Real Estate — 2.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower | &nbsp;&nbsp;&nbsp;&nbsp;53073 | &nbsp;&nbsp; 11548685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity LifeStyle Properties | &nbsp;&nbsp;&nbsp;&nbsp;84788 | &nbsp;&nbsp; 5655359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prologis | &nbsp;&nbsp;&nbsp;&nbsp;212459 | &nbsp;&nbsp; 23750792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;44025 | &nbsp;&nbsp; 13176242 |
|  |  | &nbsp;&nbsp; 54131078 |
| &nbsp;&nbsp;Utilities — 6.02% | &nbsp;&nbsp;Utilities — 6.02% | &nbsp;&nbsp;Utilities — 6.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Electric Power | &nbsp;&nbsp;&nbsp;&nbsp;40574 | &nbsp;&nbsp; 4433521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominion Energy | &nbsp;&nbsp;&nbsp;&nbsp;278416 | &nbsp;&nbsp; 15610785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duke Energy | &nbsp;&nbsp;&nbsp;&nbsp;272015 | &nbsp;&nbsp; 33177670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelon | &nbsp;&nbsp;&nbsp;&nbsp;158219 | &nbsp;&nbsp; 7290731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy | &nbsp;&nbsp;&nbsp;&nbsp;163362 | &nbsp;&nbsp; 11580732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG&E | &nbsp;&nbsp;&nbsp;&nbsp;710539 | &nbsp;&nbsp; 12207060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern | &nbsp;&nbsp;&nbsp;&nbsp;190750 | &nbsp;&nbsp; 17539462 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) | &nbsp;&nbsp;Utilities (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xcel Energy | &nbsp;&nbsp;&nbsp;&nbsp;126492 | $8954369 |
|  |  | &nbsp;&nbsp; 110794330 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,300,056,368)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,300,056,368)** | &nbsp;&nbsp;**1820142294** |
| &nbsp;&nbsp;**Short-Term Investments — 1.18%** | &nbsp;&nbsp;**Short-Term Investments — 1.18%** | &nbsp;&nbsp;**Short-Term Investments — 1.18%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.18% | &nbsp;&nbsp;Money Market Mutual Funds — 1.18% | &nbsp;&nbsp;Money Market Mutual Funds — 1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | 5413316 | &nbsp;&nbsp; 5413316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 5413317 | &nbsp;&nbsp; 5413317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | 5413316 | &nbsp;&nbsp; 5413316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | 5413315 | &nbsp;&nbsp; 5413315 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $21,653,264)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $21,653,264)** | &nbsp;&nbsp; **21653264** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.05%<br> (cost $1,321,709,632)** |  | **$1841795558** |

---

♦ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

† Non-income producing security.

---

| |
|:---|
| **Summary of abbreviations:** |
| S&P – Standard & Poor's Financial Services LLC |

---

See accompanying notes, which are an integral part of the financial statements.

62&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Growth Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 97.60%** | &nbsp;&nbsp;**Common Stocks — 97.60%** | &nbsp;&nbsp;**Common Stocks — 97.60%** |
| &nbsp;&nbsp;Communication Services — 2.07% | &nbsp;&nbsp;Communication Services — 2.07% | &nbsp;&nbsp;Communication Services — 2.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lions Gate Entertainment Class B † | &nbsp;&nbsp;&nbsp;&nbsp;174962 | $1385699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roku † | &nbsp;&nbsp;&nbsp;&nbsp;22920 | &nbsp;&nbsp; 1614485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TKO Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;68238 | &nbsp;&nbsp; 10427449 |
|  |  | &nbsp;&nbsp; 13427633 |
| &nbsp;&nbsp;Consumer Discretionary — 10.26% | &nbsp;&nbsp;Consumer Discretionary — 10.26% | &nbsp;&nbsp;Consumer Discretionary — 10.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | &nbsp;&nbsp;&nbsp;&nbsp;44253 | &nbsp;&nbsp; 2018379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Birkenstock Holding † | &nbsp;&nbsp;&nbsp;&nbsp;64425 | &nbsp;&nbsp; 2953886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boot Barn Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;24240 | &nbsp;&nbsp; 2604103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burlington Stores † | &nbsp;&nbsp;&nbsp;&nbsp;10408 | &nbsp;&nbsp; 2480539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cava Group † | &nbsp;&nbsp;&nbsp;&nbsp;40543 | &nbsp;&nbsp; 3503321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Champion Homes † | &nbsp;&nbsp;&nbsp;&nbsp;39433 | &nbsp;&nbsp; 3736671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chewy Class A † | &nbsp;&nbsp;&nbsp;&nbsp;53135 | &nbsp;&nbsp; 1727419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Churchill Downs | &nbsp;&nbsp;&nbsp;&nbsp;65583 | &nbsp;&nbsp; 7284304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dutch Bros Class A † | &nbsp;&nbsp;&nbsp;&nbsp;69039 | &nbsp;&nbsp; 4262468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Game Technology | &nbsp;&nbsp;&nbsp;&nbsp;195602 | &nbsp;&nbsp; 3180489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KinderCare Learning † | &nbsp;&nbsp;&nbsp;&nbsp;26997 | &nbsp;&nbsp; 312895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life Time Group Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;81052 | &nbsp;&nbsp; 2447770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Modine Manufacturing † | &nbsp;&nbsp;&nbsp;&nbsp;30464 | &nbsp;&nbsp; 2338112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;254686 | &nbsp;&nbsp; 4828847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;31689 | &nbsp;&nbsp; 3687332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On Holding Class A † | &nbsp;&nbsp;&nbsp;&nbsp;89705 | &nbsp;&nbsp; 3939844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patrick Industries | &nbsp;&nbsp;&nbsp;&nbsp;42663 | &nbsp;&nbsp; 3607583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revolve Group † | &nbsp;&nbsp;&nbsp;&nbsp;60684 | &nbsp;&nbsp; 1304099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Somnigroup International | &nbsp;&nbsp;&nbsp;&nbsp;63514 | &nbsp;&nbsp; 3803218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valvoline † | &nbsp;&nbsp;&nbsp;&nbsp;61034 | &nbsp;&nbsp; 2124594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VF | &nbsp;&nbsp;&nbsp;&nbsp;176529 | &nbsp;&nbsp; 2739730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wingstop | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7380 | &nbsp;&nbsp; 1664780 |
|  |  | &nbsp;&nbsp; 66550383 |
| &nbsp;&nbsp;Consumer Staples — 3.87% | &nbsp;&nbsp;Consumer Staples — 3.87% | &nbsp;&nbsp;Consumer Staples — 3.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;90275 | &nbsp;&nbsp; 10300377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celsius Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;190887 | &nbsp;&nbsp; 6799395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;elf Beauty † | &nbsp;&nbsp;&nbsp;&nbsp;21628 | &nbsp;&nbsp; 1358022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oddity Tech Class A † | &nbsp;&nbsp;&nbsp;&nbsp;46240 | &nbsp;&nbsp; 2000342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Food Group † | &nbsp;&nbsp;&nbsp;&nbsp;39847 | &nbsp;&nbsp; 3133170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunOpta † | &nbsp;&nbsp;&nbsp;&nbsp;313288 | &nbsp;&nbsp; 1522580 |
|  |  | &nbsp;&nbsp; 25113886 |
| &nbsp;&nbsp;Energy — 3.63% | &nbsp;&nbsp;Energy — 3.63% | &nbsp;&nbsp;Energy — 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Civitas Resources | &nbsp;&nbsp;&nbsp;&nbsp;47579 | &nbsp;&nbsp; 1660031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flowco Holdings Class A † | &nbsp;&nbsp;&nbsp;&nbsp;88839 | &nbsp;&nbsp; 2278720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulfport Energy † | &nbsp;&nbsp;&nbsp;&nbsp;57426 | &nbsp;&nbsp; 10574424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;111210 | &nbsp;&nbsp; 5681719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TechnipFMC | &nbsp;&nbsp;&nbsp;&nbsp;106762 | &nbsp;&nbsp; 3383288 |
|  |  | &nbsp;&nbsp; 23578182 |
| &nbsp;&nbsp;Financials — 14.93% | &nbsp;&nbsp;Financials — 14.93% | &nbsp;&nbsp;Financials — 14.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baldwin Insurance Group † | &nbsp;&nbsp;&nbsp;&nbsp;112430 | &nbsp;&nbsp; 5024497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BGC Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;628080 | &nbsp;&nbsp; 5759494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;79527 | &nbsp;&nbsp; 3232772 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coastal Financial † | &nbsp;&nbsp;&nbsp;&nbsp;32222 | $2913191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essent Group | &nbsp;&nbsp;&nbsp;&nbsp;59602 | &nbsp;&nbsp; 3440227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evercore Class A | &nbsp;&nbsp;&nbsp;&nbsp;15706 | &nbsp;&nbsp; 3136802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glacier Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;50408 | &nbsp;&nbsp; 2229042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco | &nbsp;&nbsp;&nbsp;&nbsp;211915 | &nbsp;&nbsp; 3214750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jack Henry & Associates | &nbsp;&nbsp;&nbsp;&nbsp;33687 | &nbsp;&nbsp; 6151246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lazard | &nbsp;&nbsp;&nbsp;&nbsp;125899 | &nbsp;&nbsp; 5451427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palomar Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;21488 | &nbsp;&nbsp; 2945575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PennyMac Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;55570 | &nbsp;&nbsp; 5563113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinnacle Financial Partners | &nbsp;&nbsp;&nbsp;&nbsp;58892 | &nbsp;&nbsp; 6244908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robinhood Markets Class A † | &nbsp;&nbsp;&nbsp;&nbsp;190371 | &nbsp;&nbsp; 7923241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryan Specialty Holdings | &nbsp;&nbsp;&nbsp;&nbsp;64207 | &nbsp;&nbsp; 4742971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shift4 Payments Class A † | &nbsp;&nbsp;&nbsp;&nbsp;30766 | &nbsp;&nbsp; 2513890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group † | &nbsp;&nbsp;&nbsp;&nbsp;72524 | &nbsp;&nbsp; 3837970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial | &nbsp;&nbsp;&nbsp;&nbsp;43583 | &nbsp;&nbsp; 4108134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triumph Financial † | &nbsp;&nbsp;&nbsp;&nbsp;52316 | &nbsp;&nbsp; 3023865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upstart Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;76649 | &nbsp;&nbsp; 3528153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Class A | &nbsp;&nbsp;&nbsp;&nbsp;66372 | &nbsp;&nbsp; 2530101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W R Berkley | &nbsp;&nbsp;&nbsp;&nbsp;131617 | &nbsp;&nbsp; 9365866 |
|  |  | &nbsp;&nbsp; 96881235 |
| &nbsp;&nbsp;Healthcare — 18.57% | &nbsp;&nbsp;Healthcare — 18.57% | &nbsp;&nbsp;Healthcare — 18.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADMA Biologics † | &nbsp;&nbsp;&nbsp;&nbsp;116101 | &nbsp;&nbsp; 2303444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amicus Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;264077 | &nbsp;&nbsp; 2154868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANI Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;39686 | &nbsp;&nbsp; 2656978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARS Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;144872 | &nbsp;&nbsp; 1822490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Artivion † | &nbsp;&nbsp;&nbsp;&nbsp;90160 | &nbsp;&nbsp; 2216133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avantor † | &nbsp;&nbsp;&nbsp;&nbsp;259448 | &nbsp;&nbsp; 4205652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axsome Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;17503 | &nbsp;&nbsp; 2041375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azenta † | &nbsp;&nbsp;&nbsp;&nbsp;44626 | &nbsp;&nbsp; 1545845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biohaven † | &nbsp;&nbsp;&nbsp;&nbsp;87062 | &nbsp;&nbsp; 2092970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioLife Solutions † | &nbsp;&nbsp;&nbsp;&nbsp;104939 | &nbsp;&nbsp; 2396807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blueprint Medicines † | &nbsp;&nbsp;&nbsp;&nbsp;27778 | &nbsp;&nbsp; 2458631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bridgebio Pharma † | &nbsp;&nbsp;&nbsp;&nbsp;91522 | &nbsp;&nbsp; 3163915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONMED | &nbsp;&nbsp;&nbsp;&nbsp;32015 | &nbsp;&nbsp; 1933386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crinetics Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;44908 | &nbsp;&nbsp; 1506214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cytokinetics † | &nbsp;&nbsp;&nbsp;&nbsp;44406 | &nbsp;&nbsp; 1784677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dynavax Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;197443 | &nbsp;&nbsp; 2560836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evolent Health Class A † | &nbsp;&nbsp;&nbsp;&nbsp;148180 | &nbsp;&nbsp; 1403265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GeneDx Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;35002 | &nbsp;&nbsp; 3099952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glaukos † | &nbsp;&nbsp;&nbsp;&nbsp;33570 | &nbsp;&nbsp; 3303959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guardant Health † | &nbsp;&nbsp;&nbsp;&nbsp;189240 | &nbsp;&nbsp; 8061624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haemonetics † | &nbsp;&nbsp;&nbsp;&nbsp;48482 | &nbsp;&nbsp; 3081031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HealthEquity † | &nbsp;&nbsp;&nbsp;&nbsp;25328 | &nbsp;&nbsp; 2238235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICON † | &nbsp;&nbsp;&nbsp;&nbsp;17948 | &nbsp;&nbsp; 3140720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insmed † | &nbsp;&nbsp;&nbsp;&nbsp;115292 | &nbsp;&nbsp; 8795627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iRhythm Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;54917 | &nbsp;&nbsp; 5748712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals International † | &nbsp;&nbsp;&nbsp;&nbsp;89812 | &nbsp;&nbsp; 1994724 |

---

&nbsp;&nbsp;&nbsp;&nbsp;63

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Growth Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lantheus Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;46690 | $4556944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natera † | &nbsp;&nbsp;&nbsp;&nbsp;12283 | &nbsp;&nbsp; 1736939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neogen † | &nbsp;&nbsp;&nbsp;&nbsp;172037 | &nbsp;&nbsp; 1491561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neurocrine Biosciences † | &nbsp;&nbsp;&nbsp;&nbsp;21246 | &nbsp;&nbsp; 2349808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ocular Therapeutix † | &nbsp;&nbsp;&nbsp;&nbsp;244984 | &nbsp;&nbsp; 1795733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phreesia † | &nbsp;&nbsp;&nbsp;&nbsp;84082 | &nbsp;&nbsp; 2149136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Privia Health Group † | &nbsp;&nbsp;&nbsp;&nbsp;95783 | &nbsp;&nbsp; 2150328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repligen † | &nbsp;&nbsp;&nbsp;&nbsp;23121 | &nbsp;&nbsp; 2941916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sarepta Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;19690 | &nbsp;&nbsp; 1256616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SpringWorks Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;46405 | &nbsp;&nbsp; 2047853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stevanato Group | &nbsp;&nbsp;&nbsp;&nbsp;132510 | &nbsp;&nbsp; 2705854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;109713 | &nbsp;&nbsp; 2116364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransMedics Group † | &nbsp;&nbsp;&nbsp;&nbsp;18641 | &nbsp;&nbsp; 1254166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Twist Bioscience † | &nbsp;&nbsp;&nbsp;&nbsp;44206 | &nbsp;&nbsp; 1735528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ultragenyx Pharmaceutical † | &nbsp;&nbsp;&nbsp;&nbsp;100701 | &nbsp;&nbsp; 3646383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vaxcyte † | &nbsp;&nbsp;&nbsp;&nbsp;64415 | &nbsp;&nbsp; 2432310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viridian Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;131578 | &nbsp;&nbsp; 1773671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WaVe Life Sciences † | &nbsp;&nbsp;&nbsp;&nbsp;190371 | &nbsp;&nbsp; 1538198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waystar Holding † | &nbsp;&nbsp;&nbsp;&nbsp;83255 | &nbsp;&nbsp; 3110407 |
|  |  | &nbsp;&nbsp;120501785 |
| &nbsp;&nbsp;Industrials — 20.32% | &nbsp;&nbsp;Industrials — 20.32% | &nbsp;&nbsp;Industrials — 20.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAON | &nbsp;&nbsp;&nbsp;&nbsp;32867 | &nbsp;&nbsp; 2567899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAR † | &nbsp;&nbsp;&nbsp;&nbsp;42426 | &nbsp;&nbsp; 2375432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Drainage Systems | &nbsp;&nbsp;&nbsp;&nbsp;31404 | &nbsp;&nbsp; 3412045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Industrial Technologies | &nbsp;&nbsp;&nbsp;&nbsp;20906 | &nbsp;&nbsp; 4710958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AZEK † | &nbsp;&nbsp;&nbsp;&nbsp;53557 | &nbsp;&nbsp; 2618402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boise Cascade | &nbsp;&nbsp;&nbsp;&nbsp;20463 | &nbsp;&nbsp; 2007216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CECO Environmental † | &nbsp;&nbsp;&nbsp;&nbsp;69765 | &nbsp;&nbsp; 1590642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chart Industries † | &nbsp;&nbsp;&nbsp;&nbsp;20340 | &nbsp;&nbsp; 2936282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction Partners Class A † | &nbsp;&nbsp;&nbsp;&nbsp;37882 | &nbsp;&nbsp; 2722579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core & Main Class A † | &nbsp;&nbsp;&nbsp;&nbsp;60109 | &nbsp;&nbsp; 2903866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crane | &nbsp;&nbsp;&nbsp;&nbsp;27625 | &nbsp;&nbsp; 4231597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Driven Brands Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;92872 | &nbsp;&nbsp; 1591826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dycom Industries † | &nbsp;&nbsp;&nbsp;&nbsp;16536 | &nbsp;&nbsp; 2519094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embraer ADR † | &nbsp;&nbsp;&nbsp;&nbsp;31914 | &nbsp;&nbsp; 1474427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everus Construction Group † | &nbsp;&nbsp;&nbsp;&nbsp;78610 | &nbsp;&nbsp; 2915645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flowserve | &nbsp;&nbsp;&nbsp;&nbsp;51335 | &nbsp;&nbsp; 2507201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FTAI Aviation | &nbsp;&nbsp;&nbsp;&nbsp;25798 | &nbsp;&nbsp; 2864352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FTI Consulting † | &nbsp;&nbsp;&nbsp;&nbsp;13311 | &nbsp;&nbsp; 2184069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;17051 | &nbsp;&nbsp; 2159509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herc Holdings | &nbsp;&nbsp;&nbsp;&nbsp;32293 | &nbsp;&nbsp; 4335981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBT Marel | &nbsp;&nbsp;&nbsp;&nbsp;22783 | &nbsp;&nbsp; 2784083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KBR | &nbsp;&nbsp;&nbsp;&nbsp;75538 | &nbsp;&nbsp; 3762548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kirby † | &nbsp;&nbsp;&nbsp;&nbsp;27191 | &nbsp;&nbsp; 2746563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings | &nbsp;&nbsp;&nbsp;&nbsp;191645 | &nbsp;&nbsp; 8334641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions † | &nbsp;&nbsp;&nbsp;&nbsp;254389 | &nbsp;&nbsp; 7552809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montrose Environmental Group † | &nbsp;&nbsp;&nbsp;&nbsp;70067 | &nbsp;&nbsp; 999155 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MYR Group † | &nbsp;&nbsp;&nbsp;&nbsp;20052 | $2267681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEXTracker Class A † | &nbsp;&nbsp;&nbsp;&nbsp;77973 | &nbsp;&nbsp; 3285782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paylocity Holding † | &nbsp;&nbsp;&nbsp;&nbsp;37729 | &nbsp;&nbsp; 7068151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RB Global | &nbsp;&nbsp;&nbsp;&nbsp;20335 | &nbsp;&nbsp; 2039600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RBC Bearings † | &nbsp;&nbsp;&nbsp;&nbsp;20503 | &nbsp;&nbsp; 6597250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regal Rexnord | &nbsp;&nbsp;&nbsp;&nbsp;36475 | &nbsp;&nbsp; 4152679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rocket Lab USA † | &nbsp;&nbsp;&nbsp;&nbsp;91568 | &nbsp;&nbsp; 1637236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPX Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;27396 | &nbsp;&nbsp; 3528057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SS&C Technologies Holdings | &nbsp;&nbsp;&nbsp;&nbsp;58633 | &nbsp;&nbsp; 4897614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verra Mobility † | &nbsp;&nbsp;&nbsp;&nbsp;163944 | &nbsp;&nbsp; 3690379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wabash National | &nbsp;&nbsp;&nbsp;&nbsp;102672 | &nbsp;&nbsp; 1134526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xometry Class A † | &nbsp;&nbsp;&nbsp;&nbsp;65956 | &nbsp;&nbsp; 1643624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XPO † | &nbsp;&nbsp;&nbsp;&nbsp;59474 | &nbsp;&nbsp; 6398213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions | &nbsp;&nbsp;&nbsp;&nbsp;81012 | &nbsp;&nbsp; 2671776 |
|  |  | &nbsp;&nbsp;131821389 |
| &nbsp;&nbsp;Information Technology — 20.95% | &nbsp;&nbsp;Information Technology — 20.95% | &nbsp;&nbsp;Information Technology — 20.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Energy Industries | &nbsp;&nbsp;&nbsp;&nbsp;26325 | &nbsp;&nbsp; 2509036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilysys † | &nbsp;&nbsp;&nbsp;&nbsp;29921 | &nbsp;&nbsp; 2170469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegro MicroSystems † | &nbsp;&nbsp;&nbsp;&nbsp;244519 | &nbsp;&nbsp; 6144763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASGN † | &nbsp;&nbsp;&nbsp;&nbsp;33511 | &nbsp;&nbsp;&nbsp; 2111863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BILL Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;121096 | &nbsp;&nbsp; 5557095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Box Class A † | &nbsp;&nbsp;&nbsp;&nbsp;154001 | &nbsp;&nbsp; 4752471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Braze Class A † | &nbsp;&nbsp;&nbsp;&nbsp;68343 | &nbsp;&nbsp; 2465815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ciena † | &nbsp;&nbsp;&nbsp;&nbsp;57773 | &nbsp;&nbsp; 3491222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confluent Class A † | &nbsp;&nbsp;&nbsp;&nbsp;224029 | &nbsp;&nbsp; 5251240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CyberArk Software † | &nbsp;&nbsp;&nbsp;&nbsp;11379 | &nbsp;&nbsp; 3846102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Docusign † | &nbsp;&nbsp;&nbsp;&nbsp;32054 | &nbsp;&nbsp; 2609196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DoubleVerify Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;125122 | &nbsp;&nbsp; 1672881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elastic † | &nbsp;&nbsp;&nbsp;&nbsp;41711 | &nbsp;&nbsp; 3716450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FormFactor † | &nbsp;&nbsp;&nbsp;&nbsp;60551 | &nbsp;&nbsp; 1712988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freshworks Class A † | &nbsp;&nbsp;&nbsp;&nbsp;318813 | &nbsp;&nbsp; 4498451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Itron † | &nbsp;&nbsp;&nbsp;&nbsp;27506 | &nbsp;&nbsp; 2881529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JFrog † | &nbsp;&nbsp;&nbsp;&nbsp;92662 | &nbsp;&nbsp; 2965184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lattice Semiconductor † | &nbsp;&nbsp;&nbsp;&nbsp;81377 | &nbsp;&nbsp; 4268224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LiveRamp Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;71643 | &nbsp;&nbsp; 1872748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lumentum Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;32706 | &nbsp;&nbsp; 2038892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;nCino † | &nbsp;&nbsp;&nbsp;&nbsp;83289 | &nbsp;&nbsp; 2287949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutanix Class A † | &nbsp;&nbsp;&nbsp;&nbsp;38958 | &nbsp;&nbsp; 2719658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onto Innovation † | &nbsp;&nbsp;&nbsp;&nbsp;12571 | &nbsp;&nbsp; 1525365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OSI Systems † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9229 | &nbsp;&nbsp; 1793564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAR Technology † | &nbsp;&nbsp;&nbsp;&nbsp;54436 | &nbsp;&nbsp; 3339104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Procore Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;39111 | &nbsp;&nbsp; 2582108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTC † | &nbsp;&nbsp;&nbsp;&nbsp;32144 | &nbsp;&nbsp; 4980713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pure Storage Class A † | &nbsp;&nbsp;&nbsp;&nbsp;94141 | &nbsp;&nbsp; 4167622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q2 Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;28126 | &nbsp;&nbsp; 2250361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rambus † | &nbsp;&nbsp;&nbsp;&nbsp;110237 | &nbsp;&nbsp; 5707521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SentinelOne Class A † | &nbsp;&nbsp;&nbsp;&nbsp;117928 | &nbsp;&nbsp; 2143931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silicon Laboratories † | &nbsp;&nbsp;&nbsp;&nbsp;36109 | &nbsp;&nbsp; 4064790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sprout Social Class A † | &nbsp;&nbsp;&nbsp;&nbsp;50684 | &nbsp;&nbsp; 1114541 |

---

64&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synaptics † | &nbsp;&nbsp;&nbsp;&nbsp;40740 | $2595953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teradyne | &nbsp;&nbsp;&nbsp;&nbsp;23296 | &nbsp;&nbsp; 1924250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trimble † | &nbsp;&nbsp;&nbsp;&nbsp;120362 | &nbsp;&nbsp; 7901765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Twilio Class A † | &nbsp;&nbsp;&nbsp;&nbsp;78789 | &nbsp;&nbsp; 7714231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unity Software † | &nbsp;&nbsp;&nbsp;&nbsp;232592 | &nbsp;&nbsp; 4556477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Varonis Systems † | &nbsp;&nbsp;&nbsp;&nbsp;85716 | &nbsp;&nbsp; 3467212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Class A † | &nbsp;&nbsp;&nbsp;&nbsp;73274 | &nbsp;&nbsp; 2565323 |
|  |  | &nbsp;&nbsp;135939057 |
| &nbsp;&nbsp;Materials — 1.69% | &nbsp;&nbsp;Materials — 1.69% | &nbsp;&nbsp;Materials — 1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Element Solutions | &nbsp;&nbsp;&nbsp;&nbsp;192225 | &nbsp;&nbsp; 4346207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MP Materials † | &nbsp;&nbsp;&nbsp;&nbsp;164063 | &nbsp;&nbsp; 4004778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steel Dynamics | &nbsp;&nbsp;&nbsp;&nbsp;20922 | &nbsp;&nbsp; 2616924 |
|  |  | &nbsp;&nbsp; 10967909 |
| &nbsp;&nbsp;Real Estate — 1.31% | &nbsp;&nbsp;Real Estate — 1.31% | &nbsp;&nbsp;Real Estate — 1.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DigitalBridge Group | &nbsp;&nbsp;&nbsp;&nbsp;180487 | &nbsp;&nbsp; 1591895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones Lang LaSalle † | &nbsp;&nbsp;&nbsp;&nbsp;27990 | &nbsp;&nbsp; 6939001 |
|  |  | &nbsp;&nbsp; 8530896 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $655,457,717)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $655,457,717)** | &nbsp;&nbsp;**633312355** |
| &nbsp;&nbsp;**Warrant — 0.00%** | &nbsp;&nbsp;**Warrant — 0.00%** | &nbsp;&nbsp;**Warrant — 0.00%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings strike price $11.50, expiration date 4/23/25 =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;**Total Warrant<br> (cost $0)** | &nbsp;&nbsp;&nbsp;**Total Warrant<br> (cost $0)** | &nbsp;&nbsp; **0** |
| &nbsp;&nbsp;**Short-Term Investments — 3.22%** | &nbsp;&nbsp;**Short-Term Investments — 3.22%** | &nbsp;&nbsp;**Short-Term Investments — 3.22%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 3.22% | &nbsp;&nbsp;Money Market Mutual Funds — 3.22% | &nbsp;&nbsp;Money Market Mutual Funds — 3.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | 5226699 | &nbsp;&nbsp; 5226699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 5226700 | &nbsp;&nbsp; 5226700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | 5226700 | &nbsp;&nbsp; 5226700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | 5226700 | &nbsp;&nbsp; 5226700 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $20,906,799)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $20,906,799)** | &nbsp;&nbsp; **20906799** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.82%<br> (cost $676,364,516)** |  | **$654219154** |

---

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

† Non-income producing security. <br> = The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in "Notes to financial statements."

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;65

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Value Fund

March 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 97.33%♦** | &nbsp;&nbsp;**Common Stocks — 97.33%♦** | &nbsp;&nbsp;**Common Stocks — 97.33%♦** |
| &nbsp;&nbsp;Communication Services — 2.02% | &nbsp;&nbsp;Communication Services — 2.02% | &nbsp;&nbsp;Communication Services — 2.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMC Networks Class A † | &nbsp;&nbsp;&nbsp;&nbsp;30800 | $211904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cargurus † | &nbsp;&nbsp;&nbsp;&nbsp;103723 | &nbsp;&nbsp; 3021451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fox Class A | &nbsp;&nbsp;&nbsp;&nbsp;61600 | &nbsp;&nbsp; 3486560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexstar Media Group | &nbsp;&nbsp;&nbsp;&nbsp;18100 | &nbsp;&nbsp; 3243882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Playtika Holding | &nbsp;&nbsp;&nbsp;&nbsp;189100 | &nbsp;&nbsp; 977647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shutterstock | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp; 612927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TEGNA | &nbsp;&nbsp;&nbsp;&nbsp;69900 | &nbsp;&nbsp; 1273578 |
|  |  | &nbsp;&nbsp; 12827949 |
| &nbsp;&nbsp;Consumer Discretionary — 11.13% | &nbsp;&nbsp;Consumer Discretionary — 11.13% | &nbsp;&nbsp;Consumer Discretionary — 11.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | &nbsp;&nbsp;&nbsp;&nbsp;26041 | &nbsp;&nbsp; 1187730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;93200 | &nbsp;&nbsp; 379324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autoliv | &nbsp;&nbsp;&nbsp;&nbsp;17700 | &nbsp;&nbsp; 1565565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AutoNation † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp; 1068672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bloomin' Brands | &nbsp;&nbsp;&nbsp;&nbsp;74100 | &nbsp;&nbsp; 531297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BorgWarner | &nbsp;&nbsp;&nbsp;&nbsp;41200 | &nbsp;&nbsp; 1180380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brunswick | &nbsp;&nbsp;&nbsp;&nbsp;21300 | &nbsp;&nbsp; 1147005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capri Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;25588 | &nbsp;&nbsp; 504851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dick's Sporting Goods | &nbsp;&nbsp;&nbsp;&nbsp;43362 | &nbsp;&nbsp; 8740045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Pollo Loco Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp; 937300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia Group | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp; 2924940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gentex | &nbsp;&nbsp;&nbsp;&nbsp;135449 | &nbsp;&nbsp; 3155962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber † | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp; 646800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guess? | &nbsp;&nbsp;&nbsp;&nbsp;47500 | &nbsp;&nbsp; 525825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H&R Block | &nbsp;&nbsp;&nbsp;&nbsp;40400 | &nbsp;&nbsp; 2218364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson | &nbsp;&nbsp;&nbsp;&nbsp;59700 | &nbsp;&nbsp; 1507425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haverty Furniture | &nbsp;&nbsp;&nbsp;&nbsp;43900 | &nbsp;&nbsp; 865708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jack in the Box | &nbsp;&nbsp;&nbsp;&nbsp;15291 | &nbsp;&nbsp; 415762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kohl's | &nbsp;&nbsp;&nbsp;&nbsp;47900 | &nbsp;&nbsp; 391822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lear | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp; 732226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macy's | &nbsp;&nbsp;&nbsp;&nbsp;73400 | &nbsp;&nbsp; 921904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malibu Boats Class A † | &nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp; 598260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mattel † | &nbsp;&nbsp;&nbsp;&nbsp;103800 | &nbsp;&nbsp; 2016834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGM Resorts International † | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp; 975156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mohawk Industries † | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp; 1552848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ODP † | &nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp; 417003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penske Automotive Group | &nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp; 1929332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perdoceo Education | &nbsp;&nbsp;&nbsp;&nbsp;69500 | &nbsp;&nbsp; 1750010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phinia | &nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp; 543104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polaris | &nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp; 483092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PulteGroup | &nbsp;&nbsp;&nbsp;&nbsp;30100 | &nbsp;&nbsp; 3094280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PVH | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp; 1493184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sally Beauty Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp; 586950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shoe Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 8796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Somnigroup International | &nbsp;&nbsp;&nbsp;&nbsp;83903 | &nbsp;&nbsp;&nbsp; 5024111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steven Madden | &nbsp;&nbsp;&nbsp;&nbsp;80426 | &nbsp;&nbsp; 2142549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tapestry | &nbsp;&nbsp;&nbsp;&nbsp;37600 | &nbsp;&nbsp; 2647416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toll Brothers | &nbsp;&nbsp;&nbsp;&nbsp;46500 | &nbsp;&nbsp; 4909935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel + Leisure | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp; 578625 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Consumer Discretionary (continued) | &nbsp;&nbsp;Consumer Discretionary (continued) | &nbsp;&nbsp;Consumer Discretionary (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whirlpool | &nbsp;&nbsp;&nbsp;&nbsp;21600 | $1946808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Winnebago Industries | &nbsp;&nbsp;&nbsp;&nbsp;28300 | &nbsp;&nbsp; 975218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;60432 | &nbsp;&nbsp; 5469700 |
|  |  | &nbsp;&nbsp; 70692118 |
| &nbsp;&nbsp;Consumer Staples — 4.05% | &nbsp;&nbsp;Consumer Staples — 4.05% | &nbsp;&nbsp;Consumer Staples — 4.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albertsons Class A | &nbsp;&nbsp;&nbsp;&nbsp;103000 | &nbsp;&nbsp; 2264970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge Global | &nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp; 1581894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conagra Brands | &nbsp;&nbsp;&nbsp;&nbsp;37200 | &nbsp;&nbsp; 992124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herbalife † | &nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp; 966560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingles Markets Class A | &nbsp;&nbsp;&nbsp;&nbsp;12677 | &nbsp;&nbsp; 825653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingredion | &nbsp;&nbsp;&nbsp;&nbsp;30700 | &nbsp;&nbsp; 4150947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Molson Coors Beverage Class B | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp; 4747860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simply Good Foods † | &nbsp;&nbsp;&nbsp;&nbsp;43287 | &nbsp;&nbsp; 1492969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Foods Holding † | &nbsp;&nbsp;&nbsp;&nbsp;133005 | &nbsp;&nbsp; 8706507 |
|  |  | &nbsp;&nbsp; 25729484 |
| &nbsp;&nbsp;Energy — 5.10% | &nbsp;&nbsp;Energy — 5.10% | &nbsp;&nbsp;Energy — 5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp; 1086734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources † | &nbsp;&nbsp;&nbsp;&nbsp;67800 | &nbsp;&nbsp; 2134344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core Natural Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8884 | &nbsp;&nbsp; 684956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT | &nbsp;&nbsp;&nbsp;&nbsp;163447 | &nbsp;&nbsp; 8732973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Helmerich & Payne | &nbsp;&nbsp;&nbsp;&nbsp;60200 | &nbsp;&nbsp; 1572424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HF Sinclair | &nbsp;&nbsp;&nbsp;&nbsp;68100 | &nbsp;&nbsp; 2239128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp; 2258178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil | &nbsp;&nbsp;&nbsp;&nbsp;86387 | &nbsp;&nbsp; 2453391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scorpio Tankers | &nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp; 1161222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SM Energy | &nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp; 787685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viper Energy | &nbsp;&nbsp;&nbsp;&nbsp;175212 | &nbsp;&nbsp; 7910822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vitesse Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9109 | &nbsp;&nbsp; 223990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;World Kinect | &nbsp;&nbsp;&nbsp;&nbsp;39900 | &nbsp;&nbsp; 1131564 |
|  |  | &nbsp;&nbsp; 32377411 |
| &nbsp;&nbsp;Financials — 27.17% | &nbsp;&nbsp;Financials — 27.17% | &nbsp;&nbsp;Financials — 27.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Managers Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp; 1596285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ally Financial | &nbsp;&nbsp;&nbsp;&nbsp;70700 | &nbsp;&nbsp; 2578429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp; 1129524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annaly Capital Management | &nbsp;&nbsp;&nbsp;&nbsp;52450 | &nbsp;&nbsp; 1065260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;&nbsp;85300 | &nbsp;&nbsp; 1890248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Associated Banc-Corp | &nbsp;&nbsp;&nbsp;&nbsp;121500 | &nbsp;&nbsp; 2737395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior Class E | &nbsp;&nbsp;&nbsp;&nbsp;67900 | &nbsp;&nbsp; 2485140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hills Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;54900 | &nbsp;&nbsp; 1432341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl Capital | &nbsp;&nbsp;&nbsp;&nbsp;77200 | &nbsp;&nbsp; 1131752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;281961 | &nbsp;&nbsp; 8560336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Secured Lending | &nbsp;&nbsp;&nbsp;&nbsp;64600 | &nbsp;&nbsp; 1045228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp; 1290900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;37300 | &nbsp;&nbsp; 1528181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNA Financial | &nbsp;&nbsp;&nbsp;&nbsp;40395 | &nbsp;&nbsp; 2051662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNO Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;144200 | &nbsp;&nbsp; 6005930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comerica | &nbsp;&nbsp;&nbsp;&nbsp;37300 | &nbsp;&nbsp; 2202938 |

---

&nbsp;&nbsp;&nbsp;&nbsp;66

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corpay † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | $1952832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customers Bancorp † | &nbsp;&nbsp;&nbsp;&nbsp;30400 | &nbsp;&nbsp; 1526080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employers Holdings | &nbsp;&nbsp;&nbsp;&nbsp;49550 | &nbsp;&nbsp; 2509212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equitable Holdings | &nbsp;&nbsp;&nbsp;&nbsp;33100 | &nbsp;&nbsp; 1724179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essent Group | &nbsp;&nbsp;&nbsp;&nbsp;26800 | &nbsp;&nbsp; 1546896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everest Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp; 1743984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial | &nbsp;&nbsp;&nbsp;&nbsp;31900 | &nbsp;&nbsp; 2076052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;30200 | &nbsp;&nbsp; 1183840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp; 1267137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Busey | &nbsp;&nbsp;&nbsp;&nbsp;74400 | &nbsp;&nbsp; 1607040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Horizon | &nbsp;&nbsp;&nbsp;&nbsp;168500 | &nbsp;&nbsp; 3272270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;&nbsp;57750 | &nbsp;&nbsp; 1209862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hancock Whitney | &nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp; 1274535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hanmi Financial | &nbsp;&nbsp;&nbsp;&nbsp;73400 | &nbsp;&nbsp; 1663244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hope Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;122400 | &nbsp;&nbsp; 1281528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kemper | &nbsp;&nbsp;&nbsp;&nbsp;159682 | &nbsp;&nbsp; 10674742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lincoln National | &nbsp;&nbsp;&nbsp;&nbsp;33300 | &nbsp;&nbsp; 1195803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&T Bank | &nbsp;&nbsp;&nbsp;&nbsp;42770 | &nbsp;&nbsp; 7645137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGIC Investment | &nbsp;&nbsp;&nbsp;&nbsp;107200 | &nbsp;&nbsp; 2656416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mountain Finance | &nbsp;&nbsp;&nbsp;&nbsp;95300 | &nbsp;&nbsp; 1051159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;80800 | &nbsp;&nbsp; 3233616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Old Republic International | &nbsp;&nbsp;&nbsp;&nbsp;40800 | &nbsp;&nbsp; 1600176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneMain Holdings | &nbsp;&nbsp;&nbsp;&nbsp;24900 | &nbsp;&nbsp; 1217112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Popular | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp; 1727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp; 1012286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROG Holdings | &nbsp;&nbsp;&nbsp;&nbsp;39600 | &nbsp;&nbsp; 1053360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radian Group | &nbsp;&nbsp;&nbsp;&nbsp;69500 | &nbsp;&nbsp; 2298365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regional Management | &nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp; 785871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regions Financial | &nbsp;&nbsp;&nbsp;&nbsp;135500 | &nbsp;&nbsp; 2944415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance Group of America | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp; 2677840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rithm Capital | &nbsp;&nbsp;&nbsp;&nbsp;131300 | &nbsp;&nbsp; 1503385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SouthState | &nbsp;&nbsp;&nbsp;&nbsp;96527 | &nbsp;&nbsp; 8959636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial | &nbsp;&nbsp;&nbsp;&nbsp;92204 | &nbsp;&nbsp; 8691149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp; 3123460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synovus Financial | &nbsp;&nbsp;&nbsp;&nbsp;185421 | &nbsp;&nbsp; 8666578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TPG | &nbsp;&nbsp;&nbsp;&nbsp;84839 | &nbsp;&nbsp; 4023914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Insurance Holdings | &nbsp;&nbsp;&nbsp;&nbsp;11600 | &nbsp;&nbsp; 274920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;75700 | &nbsp;&nbsp; 6166522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victory Capital Holdings Class A | &nbsp;&nbsp;&nbsp;&nbsp;39300 | &nbsp;&nbsp; 2274291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Financial | &nbsp;&nbsp;&nbsp;&nbsp;112505 | &nbsp;&nbsp; 7623339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Union | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp; 699338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Willis Towers Watson | &nbsp;&nbsp;&nbsp;&nbsp;32136 | &nbsp;&nbsp; 10860361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zions Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;67700 | &nbsp;&nbsp; 3375522 |
|  |  | &nbsp;&nbsp;172586272 |
| &nbsp;&nbsp;Healthcare — 8.16% | &nbsp;&nbsp;Healthcare — 8.16% | &nbsp;&nbsp;Healthcare — 8.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baxter International | &nbsp;&nbsp;&nbsp;&nbsp;54100 | &nbsp;&nbsp; 1851843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles River Laboratories International † | &nbsp;&nbsp;&nbsp;&nbsp;47606 | &nbsp;&nbsp; 7165655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent | &nbsp;&nbsp;&nbsp;&nbsp;27275 | &nbsp;&nbsp; 591868 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita † | &nbsp;&nbsp;&nbsp;&nbsp;16400 | $2508708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelixis † | &nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp; 3721536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incyte † | &nbsp;&nbsp;&nbsp;&nbsp;35200 | &nbsp;&nbsp; 2131360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integra LifeSciences<br> Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;212676 | &nbsp;&nbsp; 4676745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;167200 | &nbsp;&nbsp; 245784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp; 4357665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Molina Healthcare † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8291 | &nbsp;&nbsp; 2730972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. | &nbsp;&nbsp;&nbsp;&nbsp;107300 | &nbsp;&nbsp; 1597697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo | &nbsp;&nbsp;&nbsp;&nbsp;244415 | &nbsp;&nbsp; 6853397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Select Medical Holdings | &nbsp;&nbsp;&nbsp;&nbsp;33800 | &nbsp;&nbsp; 564460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenet Healthcare † | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp; 2286500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;15870 | &nbsp;&nbsp; 4892245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Health Services Class B | &nbsp;&nbsp;&nbsp;&nbsp;22600 | &nbsp;&nbsp; 4246540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viatris | &nbsp;&nbsp;&nbsp;&nbsp;165100 | &nbsp;&nbsp; 1438021 |
|  |  | &nbsp;&nbsp; 51860996 |
| &nbsp;&nbsp;Industrials — 16.66% | &nbsp;&nbsp;Industrials — 16.66% | &nbsp;&nbsp;Industrials — 16.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABM Industries | &nbsp;&nbsp;&nbsp;&nbsp;44180 | &nbsp;&nbsp; 2092365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACCO Brands | &nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp; 611740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acuity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp; 1158740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGCO | &nbsp;&nbsp;&nbsp;&nbsp;42100 | &nbsp;&nbsp; 3897197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allison Transmission Holdings | &nbsp;&nbsp;&nbsp;&nbsp;40800 | &nbsp;&nbsp; 3903336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apogee Enterprises | &nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp; 1677146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ArcBest | &nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp; 1461006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atkore | &nbsp;&nbsp;&nbsp;&nbsp;30700 | &nbsp;&nbsp; 1841693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boise Cascade | &nbsp;&nbsp;&nbsp;&nbsp;94306 | &nbsp;&nbsp; 9250476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource † | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp; 2898608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial | &nbsp;&nbsp;&nbsp;&nbsp;377900 | &nbsp;&nbsp; 4640612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covenant Logistics Group | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp; 439560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSG Systems International | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp; 2358330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deluxe | &nbsp;&nbsp;&nbsp;&nbsp;29800 | &nbsp;&nbsp; 471138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ennis | &nbsp;&nbsp;&nbsp;&nbsp;45800 | &nbsp;&nbsp; 920122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortune Brands Innovations | &nbsp;&nbsp;&nbsp;&nbsp;126963 | &nbsp;&nbsp; 7729507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gates Industrial † | &nbsp;&nbsp;&nbsp;&nbsp;103800 | &nbsp;&nbsp; 1910958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greenbrier | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp; 957814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Griffon | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp; 1279850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp; 1265048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEX | &nbsp;&nbsp;&nbsp;&nbsp;39518 | &nbsp;&nbsp; 7151573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBT Marel | &nbsp;&nbsp;&nbsp;&nbsp;46347 | &nbsp;&nbsp; 5663603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings | &nbsp;&nbsp;&nbsp;&nbsp;85582 | &nbsp;&nbsp; 3721961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ManpowerGroup | &nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp; 1522244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp; 1127896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Middleby † | &nbsp;&nbsp;&nbsp;&nbsp;47632 | &nbsp;&nbsp;&nbsp; 7239111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MillerKnoll | &nbsp;&nbsp;&nbsp;&nbsp;86600 | &nbsp;&nbsp; 1657524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oshkosh | &nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp; 2107392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;19700 | &nbsp;&nbsp; 2813554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Primoris Services | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp; 717625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryder System | &nbsp;&nbsp;&nbsp;&nbsp;27700 | &nbsp;&nbsp; 3983537 |

---

&nbsp;&nbsp;&nbsp;&nbsp;67

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Value Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap-on | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | $3134193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Textron | &nbsp;&nbsp;&nbsp;&nbsp;54600 | &nbsp;&nbsp; 3944850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;57938 | &nbsp;&nbsp; 4808275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Airlines Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;31900 | &nbsp;&nbsp; 2202695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wabash National | &nbsp;&nbsp;&nbsp;&nbsp;45100 | &nbsp;&nbsp; 498355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WESCO International | &nbsp;&nbsp;&nbsp;&nbsp;17827 | &nbsp;&nbsp; 2768533 |
|  |  | &nbsp;&nbsp;105828167 |
| &nbsp;&nbsp;Information Technology — 7.93% | &nbsp;&nbsp;Information Technology — 7.93% | &nbsp;&nbsp;Information Technology — 7.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adeia | &nbsp;&nbsp;&nbsp;&nbsp;157800 | &nbsp;&nbsp; 2086116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegro MicroSystems † | &nbsp;&nbsp;&nbsp;&nbsp;181717 | &nbsp;&nbsp; 4566548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amdocs | &nbsp;&nbsp;&nbsp;&nbsp;29400 | &nbsp;&nbsp; 2690100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amkor Technology | &nbsp;&nbsp;&nbsp;&nbsp;102600 | &nbsp;&nbsp; 1852956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arrow Electronics † | &nbsp;&nbsp;&nbsp;&nbsp;24580 | &nbsp;&nbsp; 2552141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belden | &nbsp;&nbsp;&nbsp;&nbsp;59210 | &nbsp;&nbsp; 5935803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cirrus Logic † | &nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp; 1504791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dropbox Class A † | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp; 2350480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flex † | &nbsp;&nbsp;&nbsp;&nbsp;123670 | &nbsp;&nbsp; 4091004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gen Digital | &nbsp;&nbsp;&nbsp;&nbsp;73900 | &nbsp;&nbsp; 1961306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jabil | &nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp; 3741925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimball Electronics † | &nbsp;&nbsp;&nbsp;&nbsp;36600 | &nbsp;&nbsp; 602070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MKS Instruments | &nbsp;&nbsp;&nbsp;&nbsp;76743 | &nbsp;&nbsp; 6150951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCR Atleos † | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp; 490668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetApp | &nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp; 2529792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanmina † | &nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp; 4037540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Skyworks Solutions | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp; 930672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TD SYNNEX | &nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp; 1996032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xerox Holdings | &nbsp;&nbsp;&nbsp;&nbsp;61300 | &nbsp;&nbsp; 296079 |
|  |  | &nbsp;&nbsp; 50366974 |
| &nbsp;&nbsp;Materials — 4.74% | &nbsp;&nbsp;Materials — 4.74% | &nbsp;&nbsp;Materials — 4.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berry Global Group | &nbsp;&nbsp;&nbsp;&nbsp;28700 | &nbsp;&nbsp; 2003547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemours | &nbsp;&nbsp;&nbsp;&nbsp;37600 | &nbsp;&nbsp; 508728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eastman Chemical | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp; 1057320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphic Packaging Holding | &nbsp;&nbsp;&nbsp;&nbsp;38400 | &nbsp;&nbsp; 996864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greif Class A | &nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp; 940329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingevity † | &nbsp;&nbsp;&nbsp;&nbsp;166283 | &nbsp;&nbsp; 6583144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Koppers Holdings | &nbsp;&nbsp;&nbsp;&nbsp;37700 | &nbsp;&nbsp; 1055600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnera † | &nbsp;&nbsp;&nbsp;&nbsp;13317 | &nbsp;&nbsp; 241837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mosaic | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp; 999370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O-I Glass † | &nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp; 685906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance | &nbsp;&nbsp;&nbsp;&nbsp;33348 | &nbsp;&nbsp; 9629235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silgan Holdings | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp; 1012176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steel Dynamics | &nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp; 2839316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunCoke Energy | &nbsp;&nbsp;&nbsp;&nbsp;172300 | &nbsp;&nbsp; 1585160 |
|  |  | &nbsp;&nbsp; 30138532 |
| &nbsp;&nbsp;Real Estate — 7.31% | &nbsp;&nbsp;Real Estate — 7.31% | &nbsp;&nbsp;Real Estate — 7.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Assets Trust | &nbsp;&nbsp;&nbsp;&nbsp;55500 | &nbsp;&nbsp; 1117770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Healthcare REIT | &nbsp;&nbsp;&nbsp;&nbsp;178744 | &nbsp;&nbsp; 5415943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Hospitality REIT | &nbsp;&nbsp;&nbsp;&nbsp;103500 | &nbsp;&nbsp; 1336185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Armada Hoffler Properties | &nbsp;&nbsp;&nbsp;&nbsp;100700 | &nbsp;&nbsp; 756257 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** | &nbsp;&nbsp;**Common Stocks♦ (continued)** |
| &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group | &nbsp;&nbsp;&nbsp;&nbsp;403956 | $10725032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;87584 | &nbsp;&nbsp; 10711523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City Office REIT | &nbsp;&nbsp;&nbsp;&nbsp;137000 | &nbsp;&nbsp; 711030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CTO Realty Growth | &nbsp;&nbsp;&nbsp;&nbsp;46500 | &nbsp;&nbsp; 897915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp; 2414799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Highwoods Properties | &nbsp;&nbsp;&nbsp;&nbsp;43800 | &nbsp;&nbsp; 1298232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;171300 | &nbsp;&nbsp; 2434173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;63789 | &nbsp;&nbsp; 219434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;63600 | &nbsp;&nbsp; 1422732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors | &nbsp;&nbsp;&nbsp;&nbsp;32700 | &nbsp;&nbsp; 1245216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outfront Media | &nbsp;&nbsp;&nbsp;&nbsp;93299 | &nbsp;&nbsp; 1505846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Piedmont Office Realty Trust Class A | &nbsp;&nbsp;&nbsp;&nbsp;78300 | &nbsp;&nbsp; 577071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT | &nbsp;&nbsp;&nbsp;&nbsp;164500 | &nbsp;&nbsp; 2873815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;104300 | &nbsp;&nbsp; 272223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uniti Group | &nbsp;&nbsp;&nbsp;&nbsp;107160 | &nbsp;&nbsp; 540087 |
|  |  | &nbsp;&nbsp; 46475283 |
| &nbsp;&nbsp;Utilities — 3.06% | &nbsp;&nbsp;Utilities — 3.06% | &nbsp;&nbsp;Utilities — 3.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Fuel Gas | &nbsp;&nbsp;&nbsp;&nbsp;44100 | &nbsp;&nbsp; 3492279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NiSource | &nbsp;&nbsp;&nbsp;&nbsp;266794 | &nbsp;&nbsp; 10695771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;39500 | &nbsp;&nbsp; 3770670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UGI | &nbsp;&nbsp;&nbsp;&nbsp;45200 | &nbsp;&nbsp; 1494764 |
|  |  | &nbsp;&nbsp; 19453484 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $586,851,994)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $586,851,994)** | &nbsp;&nbsp;**618336670** |
| &nbsp;&nbsp;**Exchange-Traded Fund — 0.97%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.97%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.97%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Russell 2000 Value ETF | &nbsp;&nbsp;&nbsp;&nbsp;40810 | &nbsp;&nbsp; 6161494 |
| &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $6,240,916)** | &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $6,240,916)** | &nbsp;&nbsp; **6161494** |
| &nbsp;&nbsp;**Short-Term Investments — 1.51%** | &nbsp;&nbsp;**Short-Term Investments — 1.51%** | &nbsp;&nbsp;**Short-Term Investments — 1.51%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.51% | &nbsp;&nbsp;Money Market Mutual Funds — 1.51% | &nbsp;&nbsp;Money Market Mutual Funds — 1.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.23%) | 2400433 | &nbsp;&nbsp; 2400433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 2400433 | &nbsp;&nbsp; 2400433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.31%) | 2400434 | &nbsp;&nbsp; 2400434 |

---

68&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.27%) | 2400433 | $2400433 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $9,601,733)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $9,601,733)** | &nbsp;&nbsp; **9601733** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.81%<br> (cost $602,694,643)** |  | **$634099897** |

---

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

♦ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance purposes.

† Non-income producing security.

---

| |
|:---|
| **Summary of abbreviations:** |
| ETF – Exchange-Traded Fund |
| REIT – Real Estate Investment Trust |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;69

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Statements of assets and liabilities
Optimum Fund Trust

March 31, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at value\* | &nbsp;&nbsp;$3108429362 | &nbsp;&nbsp;$797938993 | &nbsp;&nbsp;$1858864074 | &nbsp;&nbsp;$1841795558 | &nbsp;&nbsp;$654219154 | &nbsp;&nbsp;$634099897 |
| &nbsp;&nbsp;&nbsp;Repurchase agreements, at value\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451064853 | &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;&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;Foreign currencies, at value<sup>Δ</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19830 | &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;Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3123560 | &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;261940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19828 | &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;239243 |
| &nbsp;&nbsp;&nbsp;Cash collateral due from brokers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13440932 | &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;&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;Receivable for securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690513717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25927390 | &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;2509349 |
| &nbsp;&nbsp;&nbsp;Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24282658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004777 |
| &nbsp;&nbsp;&nbsp;Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977668 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804574 | &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;3905 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Due from brokers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644223 | &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;&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;Upfront payments paid on over-the-counter credit default swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211932 | &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;&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;Variation margin due from brokers on centrally cleared interest rate swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138909 | &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;&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;Prepaid expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35981 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on over-the-counter credit default swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43874 | &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;&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;Variation margin due from brokers on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11744 | &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;&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;Variation margin due from brokers on centrally cleared credit default swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7285 | &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;&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;Swap payments receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 | &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;&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;Unrealized appreciation on unfunded loan commitments\*\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &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;&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;Foreign tax reclaims receivable | &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;2379717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313709 | &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;7391 |
| &nbsp;&nbsp;&nbsp;Total Assets | &nbsp;&nbsp;&nbsp;&nbsp;4302469750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805972000 | &nbsp;&nbsp;&nbsp;&nbsp;1888400781 | &nbsp;&nbsp;&nbsp;&nbsp;1846016040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655486463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638874306 |

---

&nbsp;&nbsp;&nbsp;&nbsp;70

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Options written, at value<sup>Σ</sup> | &nbsp;&nbsp;$369838 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Due to custodian | &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;64080 | &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;40843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Payable for securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;1583707925 | &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;23428074 | &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;4715579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925391 |
| &nbsp;&nbsp;&nbsp;Payable for fund shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5001219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031206 |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810782 | &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;&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;Cash collateral due to brokers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215000 | &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;&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;Investment management fees payable to affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369413 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210671 |
| &nbsp;&nbsp;&nbsp;Variation margin due to brokers on centrally cleared interest rate swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874945 | &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;&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;Accounting fees payable to affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27367 |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on over-the-counter credit default swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31035 | &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;&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;Variation margin due to brokers on centrally cleared credit default swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30559 | &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;&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;Distribution fees payable to affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176 |
| &nbsp;&nbsp;&nbsp;Interest expense payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &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;&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;Total Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;1599184100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2740809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28511707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6615013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3565224 |
| **Total Net Assets** | &nbsp;&nbsp;$2703285650 | &nbsp;&nbsp;$803231191 | &nbsp;&nbsp;$1859889074 | &nbsp;&nbsp;$1840888315 | &nbsp;&nbsp;$648871450 | &nbsp;&nbsp;$635309082 |
| **Net Assets Consist of:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Paid-in capital | &nbsp;&nbsp;$3110528465 | &nbsp;&nbsp;$849864869 | &nbsp;&nbsp;$1113133983 | &nbsp;&nbsp;$1269142707 | &nbsp;&nbsp;$663948298 | &nbsp;&nbsp;$592008111 |
| &nbsp;&nbsp;&nbsp;Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(407242815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46633678) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746755091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571745608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15076848) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43300971 |
| **Total Net Assets** | &nbsp;&nbsp;$2703285650 | &nbsp;&nbsp;$803231191 | &nbsp;&nbsp;$1859889074 | &nbsp;&nbsp;$1840888315 | &nbsp;&nbsp;$648871450 | &nbsp;&nbsp;$635309082 |

---

&nbsp;&nbsp;&nbsp;&nbsp;71

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| **Net Asset Value** |  |  |  |  |  |  |
| **Class A:** |  |  |  |  |  |  |
| Net assets | &nbsp;&nbsp;$38466864 | &nbsp;&nbsp;$11263055 | &nbsp;&nbsp;$43854944 | &nbsp;&nbsp;$41821068 | &nbsp;&nbsp;$5651813 | &nbsp;&nbsp;$5098079 |
| Shares of beneficial interest outstanding, unlimited authorization, no par | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4663914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413677 |
| Net asset value per share | &nbsp;&nbsp;$8.25 | &nbsp;&nbsp;$13.06 | &nbsp;&nbsp;$18.66 | &nbsp;&nbsp;$18.82 | &nbsp;&nbsp;$10.26 | &nbsp;&nbsp;$12.32 |
| Sales charge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% |
| Offering price per share, equal to net asset value per share / (1 - sales charge) | &nbsp;&nbsp;$8.64 | &nbsp;&nbsp;$13.86 | &nbsp;&nbsp;$19.80 | &nbsp;&nbsp;$19.97 | &nbsp;&nbsp;$10.89 | &nbsp;&nbsp;$13.07 |
| **Class C:** |  |  |  |  |  |  |
| Net assets | &nbsp;&nbsp;$156845 | &nbsp;&nbsp;$235591 | &nbsp;&nbsp;$503520 | &nbsp;&nbsp;$274672 | &nbsp;&nbsp;$98039 | &nbsp;&nbsp;$59650 |
| Shares of beneficial interest outstanding, unlimited authorization, no par | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867 |
| Net asset value per share | &nbsp;&nbsp;$8.72 | &nbsp;&nbsp;$12.99 | &nbsp;&nbsp;$11.98 | &nbsp;&nbsp;$18.73 | &nbsp;&nbsp;$6.03 | &nbsp;&nbsp;$10.17 |
| **Institutional Class:** |  |  |  |  |  |  |
| Net assets | &nbsp;&nbsp;$2664661941 | &nbsp;&nbsp;$791732545 | &nbsp;&nbsp;$1815530610 | &nbsp;&nbsp;$1798792575 | &nbsp;&nbsp;$643121598 | &nbsp;&nbsp;$630151353 |
| Shares of beneficial interest outstanding, unlimited authorization, no par | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323534706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60030082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83111508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94966270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51831277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46853703 |
| Net asset value per share | &nbsp;&nbsp;$8.24 | &nbsp;&nbsp;$13.19 | &nbsp;&nbsp;$21.84 | &nbsp;&nbsp;$18.94 | &nbsp;&nbsp;$12.41 | &nbsp;&nbsp;$13.45 |
| <br>\*Investments, at cost | &nbsp;&nbsp;$3187413560 | &nbsp;&nbsp;$718339947 | &nbsp;&nbsp;$1229770835 | &nbsp;&nbsp;$1321709632 | &nbsp;&nbsp;$676364516 | &nbsp;&nbsp;$602694643 |
| \*\*Repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451064853 | &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>Δ</sup>Foreign currencies, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3853030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19929 | &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;— |
| <sup>Σ</sup>Options written, premium received | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(584764) | &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| \*\*\*See Note 10 in "Notes to financial statements." |  |  |  |  |  |  |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;72

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Statements of operations
Optimum Fund Trust

Year ended March 31, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| **Investment Income:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest | &nbsp;&nbsp;$128844855 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991205 | &nbsp;&nbsp;&nbsp;21697370 | &nbsp;&nbsp;&nbsp;10628185 | &nbsp;&nbsp;&nbsp;39878122 | &nbsp;&nbsp;&nbsp;&nbsp;3447637 | &nbsp;&nbsp;&nbsp;15553670 |
| &nbsp;&nbsp;&nbsp;Foreign withholding tax claims | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1038634 | &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;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Foreign tax withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2691907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27183) |
|  | &nbsp;&nbsp;&nbsp;130836060 | &nbsp;&nbsp;&nbsp;20044097 | &nbsp;&nbsp;&nbsp;10607645 | &nbsp;&nbsp;&nbsp;39780636 | &nbsp;&nbsp;&nbsp;&nbsp;3443314 | &nbsp;&nbsp;&nbsp;15526487 |
| **Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Management fees | &nbsp;&nbsp;&nbsp;&nbsp;13394869 | &nbsp;&nbsp;&nbsp;&nbsp;5975814 | &nbsp;&nbsp;&nbsp;13871908 | &nbsp;&nbsp;&nbsp;11799503 | &nbsp;&nbsp;&nbsp;&nbsp;7183700 | &nbsp;&nbsp;&nbsp;&nbsp;5988862 |
| &nbsp;&nbsp;&nbsp;Distribution expenses — Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16970 |
| &nbsp;&nbsp;&nbsp;Distribution expenses — Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 |
| &nbsp;&nbsp;&nbsp;Dividend disbursing and transfer agent fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4308210 | &nbsp;&nbsp;&nbsp;&nbsp;1298087 | &nbsp;&nbsp;&nbsp;&nbsp;3267573 | &nbsp;&nbsp;&nbsp;&nbsp;2970300 | &nbsp;&nbsp;&nbsp;&nbsp;1174678 | &nbsp;&nbsp;&nbsp;&nbsp;1081064 |
| &nbsp;&nbsp;&nbsp;Accounting and administration expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616888 | &nbsp;&nbsp;&nbsp;&nbsp;1464258 | &nbsp;&nbsp;&nbsp;&nbsp;1337369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510903 |
| &nbsp;&nbsp;&nbsp;Reports and statements to shareholders expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532683 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77831 |
| &nbsp;&nbsp;&nbsp;Interest expense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261356 | &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;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Legal fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50877 |
| &nbsp;&nbsp;&nbsp;Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10922 |
| &nbsp;&nbsp;&nbsp;Registration fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60981 |
| &nbsp;&nbsp;&nbsp;Audit and tax fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30284 |
| &nbsp;&nbsp;&nbsp;Excise tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25766 | &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;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;21724500 | &nbsp;&nbsp;&nbsp;&nbsp;8847005 | &nbsp;&nbsp;&nbsp;19914062 | &nbsp;&nbsp;&nbsp;17389566 | &nbsp;&nbsp;&nbsp;&nbsp;9602914 | &nbsp;&nbsp;&nbsp;&nbsp;8433348 |
| &nbsp;&nbsp;&nbsp;Less expenses waived | &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;(95797) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(193431) | &nbsp;&nbsp;&nbsp;&nbsp;(312482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(583927) |
| &nbsp;&nbsp;&nbsp;Less expenses paid indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14076) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3684) |
| &nbsp;&nbsp;&nbsp;Total operating expenses | &nbsp;&nbsp;&nbsp;&nbsp;21628697 | &nbsp;&nbsp;&nbsp;&nbsp;8837580 | &nbsp;&nbsp;&nbsp;19804189 | &nbsp;&nbsp;&nbsp;17194959 | &nbsp;&nbsp;&nbsp;&nbsp;9286772 | &nbsp;&nbsp;&nbsp;&nbsp;7845737 |
| **Net Investment Income (Loss)** | &nbsp;&nbsp;&nbsp;109207363 | &nbsp;&nbsp;&nbsp;11206517 | &nbsp;&nbsp;&nbsp;&nbsp;(9196544) | &nbsp;&nbsp;&nbsp;22585677 | &nbsp;&nbsp;&nbsp;(5843458) | &nbsp;&nbsp;&nbsp;&nbsp;7,680,750<br> See accompanying notes, which are an integral part of the financial statements. |

---

&nbsp;&nbsp;&nbsp;&nbsp;73

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| **Net Realized and Unrealized Gain (Loss):** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) on: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>1</sup> | &nbsp;&nbsp;$(33495055) | &nbsp;&nbsp;$37905891 | &nbsp;&nbsp;$225140723 | &nbsp;&nbsp;$108165696 | &nbsp;&nbsp;$84794906 | &nbsp;&nbsp;$71105063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320760) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91) | &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;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6465913 | &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;92552 | &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;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;(8414631) | &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;&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;Options purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534670 | &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;&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;Options written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531509 | &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;&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;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;(5779390) | &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;&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;Net increase from payment by affiliates<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533452 | &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;&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;Securities sold short | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(491679) | &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;&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;Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;(39435971) | &nbsp;&nbsp;&nbsp;37706506 | &nbsp;&nbsp;&nbsp;&nbsp;225234782 | &nbsp;&nbsp;&nbsp;108165605 | &nbsp;&nbsp;&nbsp;&nbsp;84794906 | &nbsp;&nbsp;&nbsp;&nbsp;71105063 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) on: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;57909000 | &nbsp;&nbsp;&nbsp;11766641 | &nbsp;&nbsp;&nbsp;(103630657) | &nbsp;&nbsp;&nbsp;&nbsp;(25271168) | &nbsp;&nbsp;&nbsp;(144333366) | &nbsp;&nbsp;&nbsp;(102090137) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170 | &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;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;(3887854) | &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;4909 | &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;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648639 | &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;&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;Options purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123226) | &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;&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;Options written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123492 | &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;&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;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235419 | &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;&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;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;60478141 | &nbsp;&nbsp;&nbsp;11801879 | &nbsp;&nbsp;&nbsp;(103625489) | &nbsp;&nbsp;&nbsp;&nbsp;(25266998) | &nbsp;&nbsp;&nbsp;(144333366) | &nbsp;&nbsp;&nbsp;(102090137) |
| **Net Realized and Unrealized Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;21042170 | &nbsp;&nbsp;&nbsp;49508385 | &nbsp;&nbsp;&nbsp;&nbsp;121609293 | &nbsp;&nbsp;&nbsp;&nbsp;82898607 | &nbsp;&nbsp;&nbsp;&nbsp;(59538460) | &nbsp;&nbsp;&nbsp;&nbsp;(30985074) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;$130249533 | &nbsp;&nbsp;$60714902 | &nbsp;&nbsp;$112412749 | &nbsp;&nbsp;$105484284 | &nbsp;&nbsp;$(65381918) | &nbsp;&nbsp;$(23304324) |

---

<sup>1</sup> Includes $(862060) capital gains taxes paid for Optimum International Fund.

<sup>2</sup> See Note 2 in "Notes to financial statements."

<sup>3</sup> Includes net change of $823,668 capital gains taxes accrued for Optimum International Fund.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;74

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Statements of changes in net assets
Optimum Fund Trust

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund |
|  | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended |
|  | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 |
| **Increase (Decrease) in Net Assets from Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | &nbsp;&nbsp;$109207363 | &nbsp;&nbsp;$103364487 | &nbsp;&nbsp;$11206517 | &nbsp;&nbsp;$9632921 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39969423) <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97048269) | &nbsp;&nbsp;&nbsp;&nbsp;37706506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22458888) |
| &nbsp;&nbsp;&nbsp;Net increase from payment by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533452<sup>2</sup> | &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;&nbsp;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60478141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59357586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11801879 | &nbsp;&nbsp;&nbsp;&nbsp;104189966 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp;&nbsp;&nbsp;130249533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65673804 | &nbsp;&nbsp;&nbsp;&nbsp;60714902 | &nbsp;&nbsp;&nbsp;&nbsp;91363999 |
| **Dividends and Distributions to Shareholders from:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributable earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1627266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1653757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158228) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184292) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3208) | &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;(1227) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;(100274653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85527880) | &nbsp;&nbsp;&nbsp;&nbsp;(12511412) | &nbsp;&nbsp;&nbsp;&nbsp;(10418320) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;(101905127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87181637) | &nbsp;&nbsp;&nbsp;&nbsp;(12670867) | &nbsp;&nbsp;&nbsp;&nbsp;(10602612) |
| **Capital Share Transactions (See Note 6):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares sold: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3892271<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5748238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>3, 4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54076 | &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;5847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364932832<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;734810023 | &nbsp;&nbsp;&nbsp;&nbsp;99023548 | &nbsp;&nbsp;&nbsp;&nbsp;332589015 |
| &nbsp;&nbsp;&nbsp;Net asset value of shares issued upon reinvestment of dividends and distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &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;1194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;100200463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85474354 | &nbsp;&nbsp;&nbsp;&nbsp;12501947 | &nbsp;&nbsp;&nbsp;&nbsp;10409367 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;470649638 | &nbsp;&nbsp;&nbsp;&nbsp;827733338 | &nbsp;&nbsp;&nbsp;&nbsp;112033201 | &nbsp;&nbsp;&nbsp;&nbsp;344650033 |
| &nbsp;&nbsp;&nbsp;Cost of shares redeemed: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21805937) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11292566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5676273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2351959) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4664617) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35250) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1376214) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;(474205468) | &nbsp;&nbsp;&nbsp;&nbsp;(526073688) | &nbsp;&nbsp;&nbsp;(149912004) | &nbsp;&nbsp;&nbsp;(230325636) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;(496195198) | &nbsp;&nbsp;&nbsp;&nbsp;(542030871) | &nbsp;&nbsp;&nbsp;(155623527) | &nbsp;&nbsp;&nbsp;(234053809) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25545560) | &nbsp;&nbsp;&nbsp;&nbsp;285702467 | &nbsp;&nbsp;&nbsp;&nbsp;(43590326) | &nbsp;&nbsp;&nbsp;&nbsp;110596224 |
| **Net Increase in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798846 | &nbsp;&nbsp;&nbsp;&nbsp;264194634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453709 | &nbsp;&nbsp;&nbsp;&nbsp;191357611 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | &nbsp;&nbsp;&nbsp;2700486804 | &nbsp;&nbsp;&nbsp;2436292170 | &nbsp;&nbsp;&nbsp;&nbsp;798777482 | &nbsp;&nbsp;&nbsp;&nbsp;607419871 |
| &nbsp;&nbsp;&nbsp;End of year | &nbsp;&nbsp;$2703285650 | &nbsp;&nbsp;$2700486804 | &nbsp;&nbsp;$803231191 | &nbsp;&nbsp;$798777482 |

---

<sup>1</sup> Excludes net increase from payment by affiliates.

<sup>2</sup> See Note 2 in "Notes to financial statements."

<sup>3</sup> Amount includes capital contribution by affiliates. See Note 2 in "Notes to financial statements."

<sup>4</sup> Amount is less than $1.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;75

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund |
|  | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended |
|  | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 |
| **Increase (Decrease) in Net Assets from Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | &nbsp;&nbsp;$(9196544) | &nbsp;&nbsp;$(5953274) | &nbsp;&nbsp;$22585677 | &nbsp;&nbsp;$24020567 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;225234782 | &nbsp;&nbsp;&nbsp;&nbsp;173266010 | &nbsp;&nbsp;&nbsp;&nbsp;108165605 | &nbsp;&nbsp;&nbsp;&nbsp;247379810 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(103625489) | &nbsp;&nbsp;&nbsp;&nbsp;418614482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25266998) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71991597 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112412749 | &nbsp;&nbsp;&nbsp;&nbsp;585927218 | &nbsp;&nbsp;&nbsp;&nbsp;105484284 | &nbsp;&nbsp;&nbsp;&nbsp;343391974 |
| **Dividends and Distributions to Shareholders from:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributable earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5454142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7129965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3178851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8070840) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73176) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;(168684873) | &nbsp;&nbsp;&nbsp;&nbsp;(179461654) | &nbsp;&nbsp;&nbsp;&nbsp;(121851099) | &nbsp;&nbsp;&nbsp;&nbsp;(237846957) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;(174224471) | &nbsp;&nbsp;&nbsp;&nbsp;(186697214) | &nbsp;&nbsp;&nbsp;&nbsp;(125048485) | &nbsp;&nbsp;&nbsp;&nbsp;(245990973) |
| **Capital Share Transactions (See Note 6):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares sold: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7189784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6477071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;237989631 | &nbsp;&nbsp;&nbsp;&nbsp;248781029 | &nbsp;&nbsp;&nbsp;&nbsp;250028658 | &nbsp;&nbsp;&nbsp;&nbsp;241401565 |
| &nbsp;&nbsp;&nbsp;Net asset value of shares issued upon reinvestment of dividends and distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5442508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7105011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8014905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;168491315 | &nbsp;&nbsp;&nbsp;&nbsp;179265155 | &nbsp;&nbsp;&nbsp;&nbsp;121716342 | &nbsp;&nbsp;&nbsp;&nbsp;237618007 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;412672701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442509118 | &nbsp;&nbsp;&nbsp;&nbsp;375561492 | &nbsp;&nbsp;&nbsp;&nbsp;493617963 |
| &nbsp;&nbsp;&nbsp;Cost of shares redeemed: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24980892) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11443788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20495530) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9864233) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(254670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7135227) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(330082) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6075275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;(417961726) | &nbsp;&nbsp;&nbsp;&nbsp;(650331670) | &nbsp;&nbsp;&nbsp;&nbsp;(349527215) | &nbsp;&nbsp;&nbsp;&nbsp;(755443832) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;(443197288) | &nbsp;&nbsp;&nbsp;&nbsp;(668910685) | &nbsp;&nbsp;&nbsp;&nbsp;(370352827) | &nbsp;&nbsp;&nbsp;&nbsp;(771383340) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30524587) | &nbsp;&nbsp;&nbsp;&nbsp;(226401567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5208665 | &nbsp;&nbsp;&nbsp;&nbsp;(277765377) |
| **Net Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92336309) | &nbsp;&nbsp;&nbsp;&nbsp;172828437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14355536) | &nbsp;&nbsp;&nbsp;&nbsp;(180364376) |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | &nbsp;&nbsp;&nbsp;1952225383 | &nbsp;&nbsp;&nbsp;1779396946 | &nbsp;&nbsp;&nbsp;1855243851 | &nbsp;&nbsp;&nbsp;2035608227 |
| &nbsp;&nbsp;&nbsp;End of year | &nbsp;&nbsp;$1859889074 | &nbsp;&nbsp;$1952225383 | &nbsp;&nbsp;$1840888315 | &nbsp;&nbsp;$1855243851 |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;76

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
|  | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended | &nbsp;&nbsp;Year ended |
|  | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 | &nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;3/31/24 |
| **Increase (Decrease) in Net Assets from Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | &nbsp;&nbsp;$(5843458) | &nbsp;&nbsp;$(4256352) | &nbsp;&nbsp;$7680750 | &nbsp;&nbsp;$7658738 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;84794906 | &nbsp;&nbsp;&nbsp;&nbsp;19853630 | &nbsp;&nbsp;&nbsp;&nbsp;71105063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10985064) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;(144333366) | &nbsp;&nbsp;&nbsp;&nbsp;97164874 | &nbsp;&nbsp;&nbsp;(102090137) | &nbsp;&nbsp;&nbsp;&nbsp;114046915 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp;&nbsp;&nbsp;(65381918) | &nbsp;&nbsp;&nbsp;&nbsp;112762152 | &nbsp;&nbsp;&nbsp;&nbsp;(23304324) | &nbsp;&nbsp;&nbsp;&nbsp;110720589 |
| **Dividends and Distributions to Shareholders from:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributable earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &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;(537066) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110527) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &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;(6552) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &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;(53803623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8708125) |
|  | &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;(54347241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8818661) |
| **Capital Share Transactions (See Note 6):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares sold: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;107929819 | &nbsp;&nbsp;&nbsp;&nbsp;245329622 | &nbsp;&nbsp;&nbsp;&nbsp;96256946 | &nbsp;&nbsp;&nbsp;&nbsp;138929950 |
| &nbsp;&nbsp;&nbsp;Net asset value of shares issued upon reinvestment of dividends and distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &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;535964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &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;6285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &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;53770333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700068 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;108066783 | &nbsp;&nbsp;&nbsp;&nbsp;246380174 | &nbsp;&nbsp;&nbsp;&nbsp;150665962 | &nbsp;&nbsp;&nbsp;&nbsp;148608190 |
| &nbsp;&nbsp;&nbsp;Cost of shares redeemed: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3146478) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1419536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2600653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1212191) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(993819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26178) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(872013) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;(133694193) | &nbsp;&nbsp;&nbsp;(115195899) | &nbsp;&nbsp;&nbsp;(121450707) | &nbsp;&nbsp;&nbsp;(173600060) |
|  | &nbsp;&nbsp;&nbsp;(136874541) | &nbsp;&nbsp;&nbsp;(117609254) | &nbsp;&nbsp;&nbsp;(124077538) | &nbsp;&nbsp;&nbsp;(175684264) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp;&nbsp;&nbsp;(28807758) | &nbsp;&nbsp;&nbsp;&nbsp;128770920 | &nbsp;&nbsp;&nbsp;&nbsp;26588424 | &nbsp;&nbsp;&nbsp;&nbsp;(27076074) |
| **Net Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;(94189676) | &nbsp;&nbsp;&nbsp;&nbsp;241533072 | &nbsp;&nbsp;&nbsp;&nbsp;(51063141) | &nbsp;&nbsp;&nbsp;&nbsp;74825854 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;743061126 | &nbsp;&nbsp;&nbsp;&nbsp;501528054 | &nbsp;&nbsp;&nbsp;&nbsp;686372223 | &nbsp;&nbsp;&nbsp;&nbsp;611546369 |
| &nbsp;&nbsp;&nbsp;End of year | &nbsp;&nbsp;$648871450 | &nbsp;&nbsp;$743061126 | &nbsp;&nbsp;$635309082 | &nbsp;&nbsp;$686372223 |

---

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;77

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Financial highlights
Optimum Fixed Income Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$8.15 | &nbsp;&nbsp;$8.22 | &nbsp;&nbsp;$9.04 | &nbsp;&nbsp;$9.70 | &nbsp;&nbsp;$9.67 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.76) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.61) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.37 |
| Payment by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.52 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) |
| Net realized gain | &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;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;(0.34) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;(0.49) |
| Capital contribution by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| **Net asset value, end of period** | &nbsp;&nbsp;$8.25 | &nbsp;&nbsp;$8.15 | &nbsp;&nbsp;$8.22 | &nbsp;&nbsp;$9.04 | &nbsp;&nbsp;$9.70 |
| **Total return<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.79%<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.15% | &nbsp;&nbsp;&nbsp;&nbsp;(6.10%) | &nbsp;&nbsp;&nbsp;&nbsp;(4.99%) | &nbsp;&nbsp;&nbsp;&nbsp;5.21% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$38467 | &nbsp;&nbsp;$54169 | &nbsp;&nbsp;$58498 | &nbsp;&nbsp;$21244 | &nbsp;&nbsp;$24142 |
| Ratio of expenses to average net assets<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.05%<sup>6,7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.06%<sup>7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;&nbsp;1.05% | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |
| Ratio of expenses to average net assets prior to fees waived<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.05%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;&nbsp;1.05% | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;3.81% | &nbsp;&nbsp;&nbsp;&nbsp;3.64% | &nbsp;&nbsp;&nbsp;&nbsp;2.42% | &nbsp;&nbsp;&nbsp;&nbsp;1.40% | &nbsp;&nbsp;&nbsp;&nbsp;1.52% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;3.81% | &nbsp;&nbsp;&nbsp;&nbsp;3.64% | &nbsp;&nbsp;&nbsp;&nbsp;2.42% | &nbsp;&nbsp;&nbsp;&nbsp;1.40% | &nbsp;&nbsp;&nbsp;&nbsp;1.52% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;387%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;341%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;217%<sup>8</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Payment by affiliates and capital contributions by affiliates are less than $0.005 per share and 0.005% on total return. See Note 2 in "Notes to financial statements."

<sup>3</sup> Amount is less than $(0.005) per share.

<sup>4</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>5</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>6</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>7</sup> The ratios of expenses to average net assets excluding interest expense for the years ended March 31, 2025 and 2024 were 1.04% and 1.05%, respectively.

<sup>8</sup> The Fund accounts for mortgage dollar roll transactions, when applicable, as purchases and sales which, as a result, can increase its portfolio turnover rate.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;78

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$8.54 | &nbsp;&nbsp;$8.42 | &nbsp;&nbsp;$9.05 | &nbsp;&nbsp;$9.69 | &nbsp;&nbsp;$9.67 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.77) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| Payment by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.63) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;(0.07) |
| Net realized gain | &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;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;(0.34) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &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;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;(0.41) |
| Capital contribution by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| **Net asset value, end of period** | &nbsp;&nbsp;$8.72 | &nbsp;&nbsp;$8.54 | &nbsp;&nbsp;$8.42 | &nbsp;&nbsp;$9.05 | &nbsp;&nbsp;$9.69 |
| **Total return<sup>4</sup>** | &nbsp;&nbsp;&nbsp;3.91%<sup>2</sup> | &nbsp;&nbsp;&nbsp;1.43% | &nbsp;&nbsp;&nbsp;&nbsp;(6.94%) | &nbsp;&nbsp;&nbsp;&nbsp;(5.55%) | &nbsp;&nbsp;&nbsp;&nbsp;4.30% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$157 | &nbsp;&nbsp;$332 | &nbsp;&nbsp;$5048 | &nbsp;&nbsp;$71985 | &nbsp;&nbsp;$85821 |
| Ratio of expenses to average net assets<sup>5</sup> | &nbsp;&nbsp;&nbsp;1.80%<sup>6,7</sup> | &nbsp;&nbsp;&nbsp;1.81%<sup>7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.81% | &nbsp;&nbsp;&nbsp;&nbsp;1.80% | &nbsp;&nbsp;&nbsp;&nbsp;1.81% |
| Ratio of expenses to average net assets prior to fees waived<sup>5</sup> | &nbsp;&nbsp;&nbsp;1.80%<sup>6</sup> | &nbsp;&nbsp;&nbsp;1.81% | &nbsp;&nbsp;&nbsp;&nbsp;1.81% | &nbsp;&nbsp;&nbsp;&nbsp;1.80% | &nbsp;&nbsp;&nbsp;&nbsp;1.81% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;3.07% | &nbsp;&nbsp;&nbsp;2.89% | &nbsp;&nbsp;&nbsp;&nbsp;1.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.65% | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;3.07% | &nbsp;&nbsp;&nbsp;2.89% | &nbsp;&nbsp;&nbsp;&nbsp;1.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.65% | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;387%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;341%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;217%<sup>8</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Payment by affiliates and capital contributions by affiliates are less than $0.005 per share and 0.005% on total return. See Note 2 in "Notes to financial statements."

<sup>3</sup> Amount is less than $(0.005) per share.

<sup>4</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>5</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>6</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>7</sup> The ratios of expenses to average net assets excluding interest expense for the years ended March 31, 2025 and 2024 were 1.79% and 1.80%, respectively.

<sup>8</sup> The Fund accounts for mortgage dollar roll transactions, when applicable, as purchases and sales which, as a result, can increase its portfolio turnover rate.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;79

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fixed Income Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$8.15 | &nbsp;&nbsp;$8.22 | &nbsp;&nbsp;$9.03 | &nbsp;&nbsp;$9.68 | &nbsp;&nbsp;$9.66 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.76) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36 |
| Payment by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.54) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.43) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.54 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) |
| Net realized gain | &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;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.34) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.52) |
| Capital contribution by affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &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;— |
| **Net asset value, end of period** | &nbsp;&nbsp;$8.24 | &nbsp;&nbsp;$8.15 | &nbsp;&nbsp;$8.22 | &nbsp;&nbsp;$9.03 | &nbsp;&nbsp;$9.68 |
| **Total return<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06%<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.43% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.91%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.65%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$2664662 | &nbsp;&nbsp;$2645986 | &nbsp;&nbsp;$2372746 | &nbsp;&nbsp;$2749495 | &nbsp;&nbsp;$2725281 |
| Ratio of expenses to average net assets<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80%<sup>6,7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81%<sup>7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| Ratio of expenses to average net assets prior to fees waived<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.06% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.67% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.77% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.06% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.67% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.77% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219%<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217%<sup>8</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Payment by affiliates and capital contributions by affiliates are less than $0.005 per share and 0.005% on total return. See Note 2 in "Notes to financial statements."

<sup>3</sup> Amount is less than $(0.005) per share.

<sup>4</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value.

<sup>5</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>6</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>7</sup> The ratios of expenses to average net assets excluding interest expense for the years ended March 31, 2025 and 2024 were 0.79% and 0.80%, respectively.

<sup>8</sup> The Fund accounts for mortgage dollar roll transactions, when applicable, as purchases and sales which, as a result, can increase its portfolio turnover rate.

See accompanying notes, which are an integral part of the financial statements.

80&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$12.30 | &nbsp;&nbsp;$11.08 | &nbsp;&nbsp;$12.33 | &nbsp;&nbsp;$15.40 | &nbsp;&nbsp;$9.93 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;(1.19) | &nbsp;&nbsp;&nbsp;&nbsp;(1.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36 | &nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;(0.98) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) | &nbsp;&nbsp;&nbsp;&nbsp;(0.31) | &nbsp;&nbsp;&nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) |
| Net realized gain | &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;(1.82) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) | &nbsp;&nbsp;&nbsp;&nbsp;(0.31) | &nbsp;&nbsp;&nbsp;&nbsp;(2.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.28) |
| **Net asset value, end of period** | &nbsp;&nbsp;$13.06 | &nbsp;&nbsp;$12.30 | &nbsp;&nbsp;$11.08 | &nbsp;&nbsp;$12.33 | &nbsp;&nbsp;$15.40 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;7.42% | &nbsp;&nbsp;&nbsp;12.42%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(7.49%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;(7.55%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;58.20%<sup>3</sup> |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$11263 | &nbsp;&nbsp;$15524 | &nbsp;&nbsp;$14663 | &nbsp;&nbsp;$6071 | &nbsp;&nbsp;$7494 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.33%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.32% | &nbsp;&nbsp;&nbsp;&nbsp;1.31% | &nbsp;&nbsp;&nbsp;&nbsp;1.34% | &nbsp;&nbsp;&nbsp;&nbsp;1.34% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.33%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.34% | &nbsp;&nbsp;&nbsp;&nbsp;1.38% | &nbsp;&nbsp;&nbsp;&nbsp;1.36% | &nbsp;&nbsp;&nbsp;&nbsp;1.35% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;&nbsp;1.02% | &nbsp;&nbsp;&nbsp;&nbsp;2.37% | &nbsp;&nbsp;&nbsp;&nbsp;1.46% | &nbsp;&nbsp;&nbsp;&nbsp;1.21% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;&nbsp;1.00% | &nbsp;&nbsp;&nbsp;&nbsp;2.30% | &nbsp;&nbsp;&nbsp;&nbsp;1.44% | &nbsp;&nbsp;&nbsp;&nbsp;1.20% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;106% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;81

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$12.24 | &nbsp;&nbsp;$10.98 | &nbsp;&nbsp;$11.96 | &nbsp;&nbsp;$14.98 | &nbsp;&nbsp;$9.68 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;(1.15) | &nbsp;&nbsp;&nbsp;&nbsp;(1.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;(0.98) | &nbsp;&nbsp;&nbsp;&nbsp;(1.05) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.49 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.03) |
| Net realized gain | &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;(1.82) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) |
| **Net asset value, end of period** | &nbsp;&nbsp;$12.99 | &nbsp;&nbsp;$12.24 | &nbsp;&nbsp;$10.98 | &nbsp;&nbsp;$11.96 | &nbsp;&nbsp;$14.98 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;6.67% | &nbsp;&nbsp;&nbsp;11.48%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(8.19%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;(8.21%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;56.92%<sup>3</sup> |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$236 | &nbsp;&nbsp;$255 | &nbsp;&nbsp;$1598 | &nbsp;&nbsp;$17442 | &nbsp;&nbsp;$22367 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;2.08%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.07% | &nbsp;&nbsp;&nbsp;&nbsp;2.06% | &nbsp;&nbsp;&nbsp;&nbsp;2.09% | &nbsp;&nbsp;&nbsp;&nbsp;2.09% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;2.08%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.09% | &nbsp;&nbsp;&nbsp;&nbsp;2.13% | &nbsp;&nbsp;&nbsp;&nbsp;2.11% | &nbsp;&nbsp;&nbsp;&nbsp;2.10% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;0.41% | &nbsp;&nbsp;&nbsp;&nbsp;0.27% | &nbsp;&nbsp;&nbsp;&nbsp;1.62% | &nbsp;&nbsp;&nbsp;&nbsp;0.71% | &nbsp;&nbsp;&nbsp;&nbsp;0.46% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;0.41% | &nbsp;&nbsp;&nbsp;&nbsp;0.25% | &nbsp;&nbsp;&nbsp;&nbsp;1.55% | &nbsp;&nbsp;&nbsp;&nbsp;0.69% | &nbsp;&nbsp;&nbsp;&nbsp;0.45% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;106% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

82&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum International Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$12.44 | &nbsp;&nbsp;$11.20 | &nbsp;&nbsp;$12.44 | &nbsp;&nbsp;$15.52 | &nbsp;&nbsp;$10.00 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.64 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.92) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.95) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.15) |
| Net realized gain | &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;(1.82) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.31) |
| **Net asset value, end of period** | &nbsp;&nbsp;$13.19 | &nbsp;&nbsp;$12.44 | &nbsp;&nbsp;$11.20 | &nbsp;&nbsp;$12.44 | &nbsp;&nbsp;$15.52 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.69% | &nbsp;&nbsp;&nbsp;&nbsp;12.69%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;(7.24%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;(7.31%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;58.64%<sup>3</sup> |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$791732 | &nbsp;&nbsp;$782998 | &nbsp;&nbsp;$591159 | &nbsp;&nbsp;$903987 | &nbsp;&nbsp;$901797 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.08%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.07% | &nbsp;&nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;&nbsp;1.09% | &nbsp;&nbsp;&nbsp;&nbsp;1.09% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.08%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.09% | &nbsp;&nbsp;&nbsp;&nbsp;1.13% | &nbsp;&nbsp;&nbsp;&nbsp;1.11% | &nbsp;&nbsp;&nbsp;&nbsp;1.10% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;1.39% | &nbsp;&nbsp;&nbsp;&nbsp;1.27% | &nbsp;&nbsp;&nbsp;&nbsp;2.62% | &nbsp;&nbsp;&nbsp;&nbsp;1.71% | &nbsp;&nbsp;&nbsp;&nbsp;1.46% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;1.39% | &nbsp;&nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;&nbsp;2.55% | &nbsp;&nbsp;&nbsp;&nbsp;1.69% | &nbsp;&nbsp;&nbsp;&nbsp;1.45% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value.

<sup>3</sup> Total return during the period presented reflects waivers by the manager. Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;83

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Growth Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$19.53 | &nbsp;&nbsp;$16.09 | &nbsp;&nbsp;$19.88 | &nbsp;&nbsp;$22.49 | &nbsp;&nbsp;$15.51 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.93) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.03 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.89 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| **Net asset value, end of period** | &nbsp;&nbsp;$18.66 | &nbsp;&nbsp;$19.53 | &nbsp;&nbsp;$16.09 | &nbsp;&nbsp;$19.88 | &nbsp;&nbsp;$22.49 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.97%<sup>3</sup> | &nbsp;&nbsp;&nbsp;38.23%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(14.76%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.49%<sup>3</sup> | &nbsp;&nbsp;&nbsp;57.75% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$43855 | &nbsp;&nbsp;$63521 | &nbsp;&nbsp;$49563 | &nbsp;&nbsp;$23861 | &nbsp;&nbsp;$27906 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.21%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.19% | &nbsp;&nbsp;&nbsp;&nbsp;1.17% | &nbsp;&nbsp;&nbsp;&nbsp;1.22% | &nbsp;&nbsp;&nbsp;&nbsp;1.23% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.22%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.26% | &nbsp;&nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;&nbsp;1.22% | &nbsp;&nbsp;&nbsp;&nbsp;1.23% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;(0.69%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.58%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.43%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.80%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.65%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;(0.70%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.65%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.51%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.80%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.65%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of American Century Management, Inc. and Los Angeles Capital Management LLC replaced T. Rowe Price and ClearBridge Investments, LLC as the sub-advisors to Optimum Large Cap Growth Fund during the Fund's year ended March 31, 2023, the Fund's portfolio turnover rate increased during the year ended March 31, 2023.

See accompanying notes, which are an integral part of the financial statements.

84&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Growth Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$13.26 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$14.77 | &nbsp;&nbsp;$17.63 | &nbsp;&nbsp;$12.52 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.24) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.26 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.02 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| **Net asset value, end of period** | &nbsp;&nbsp;$11.98 | &nbsp;&nbsp;$13.26 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$14.77 | &nbsp;&nbsp;$17.63 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.20%<sup>3</sup> | &nbsp;&nbsp;&nbsp;37.16%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(15.41%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.72%<sup>3</sup> | &nbsp;&nbsp;&nbsp;56.56% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$503 | &nbsp;&nbsp;$688 | &nbsp;&nbsp;$6568 | &nbsp;&nbsp;$65193 | &nbsp;&nbsp;$79209 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.96%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.94% | &nbsp;&nbsp;&nbsp;&nbsp;1.92% | &nbsp;&nbsp;&nbsp;&nbsp;1.97% | &nbsp;&nbsp;&nbsp;&nbsp;1.98% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.97%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.01% | &nbsp;&nbsp;&nbsp;&nbsp;2.00% | &nbsp;&nbsp;&nbsp;&nbsp;1.97% | &nbsp;&nbsp;&nbsp;&nbsp;1.98% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;(1.44%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.33%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.18%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.55%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.40%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;(1.45%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.40%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.26%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.55%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.40%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of American Century Management, Inc. and Los Angeles Capital Management LLC replaced T. Rowe Price and ClearBridge Investments, LLC as the sub-advisors to Optimum Large Cap Growth Fund during the Fund's year ended March 31, 2023, the Fund's portfolio turnover rate increased during the year ended March 31, 2023.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;85

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Growth Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$22.51 | &nbsp;&nbsp;$18.19 | &nbsp;&nbsp;$22.30 | &nbsp;&nbsp;$24.79 | &nbsp;&nbsp;$16.93 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.03) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.86 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.77 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) |
| **Net asset value, end of period** | &nbsp;&nbsp;$21.84 | &nbsp;&nbsp;$22.51 | &nbsp;&nbsp;$18.19 | &nbsp;&nbsp;$22.30 | &nbsp;&nbsp;$24.79 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38.66%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;(14.59%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58.11% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$1815531 | &nbsp;&nbsp;$1888016 | &nbsp;&nbsp;$1723266 | &nbsp;&nbsp;$1898357 | &nbsp;&nbsp;$1824739 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.94% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.98% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.98% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.44%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.33%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.55%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.55%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value.

<sup>3</sup> Total return during the period presented reflects waivers by the manager. Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of American Century Management, Inc. and Los Angeles Capital Management LLC replaced T. Rowe Price and ClearBridge Investments, LLC as the sub-advisors to Optimum Large Cap Growth Fund during the Fund's year ended March 31, 2023, the Fund's portfolio turnover rate increased during the year ended March 31, 2023.

See accompanying notes, which are an integral part of the financial statements.

86&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Value Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$19.03 | &nbsp;&nbsp;$18.42 | &nbsp;&nbsp;$20.72 | &nbsp;&nbsp;$19.72 | &nbsp;&nbsp;$13.22 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.17 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28 | &nbsp;&nbsp;&nbsp;&nbsp;(1.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.52 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49 | &nbsp;&nbsp;&nbsp;&nbsp;(1.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.69 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;(0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.59) | &nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.88) | &nbsp;&nbsp;&nbsp;&nbsp;(1.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) |
| **Net asset value, end of period** | &nbsp;&nbsp;$18.82 | &nbsp;&nbsp;$19.03 | &nbsp;&nbsp;$18.42 | &nbsp;&nbsp;$20.72 | &nbsp;&nbsp;$19.72 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.53%<sup>3</sup> | &nbsp;&nbsp;&nbsp;21.27%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(5.61%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;12.91% | &nbsp;&nbsp;&nbsp;50.73% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$41821 | &nbsp;&nbsp;$58599 | &nbsp;&nbsp;$51404 | &nbsp;&nbsp;$23414 | &nbsp;&nbsp;$23730 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.17%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.17% | &nbsp;&nbsp;&nbsp;&nbsp;1.17% | &nbsp;&nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;&nbsp;1.19% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.18%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.21% | &nbsp;&nbsp;&nbsp;&nbsp;1.17% | &nbsp;&nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;&nbsp;1.19% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;0.97% | &nbsp;&nbsp;&nbsp;&nbsp;1.11% | &nbsp;&nbsp;&nbsp;&nbsp;1.12% | &nbsp;&nbsp;&nbsp;&nbsp;0.76% | &nbsp;&nbsp;&nbsp;&nbsp;1.04% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;0.96% | &nbsp;&nbsp;&nbsp;&nbsp;1.07% | &nbsp;&nbsp;&nbsp;&nbsp;1.12% | &nbsp;&nbsp;&nbsp;&nbsp;0.76% | &nbsp;&nbsp;&nbsp;&nbsp;1.04% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;87

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Value Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$18.92 | &nbsp;&nbsp;$18.19 | &nbsp;&nbsp;$20.41 | &nbsp;&nbsp;$19.44 | &nbsp;&nbsp;$13.06 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.05 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp;&nbsp;&nbsp;(1.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.42 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.32 | &nbsp;&nbsp;&nbsp;&nbsp;(1.28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.47 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &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;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.59) | &nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.59) | &nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| **Net asset value, end of period** | &nbsp;&nbsp;$18.73 | &nbsp;&nbsp;$18.92 | &nbsp;&nbsp;$18.19 | &nbsp;&nbsp;$20.41 | &nbsp;&nbsp;$19.44 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;4.81%<sup>3</sup> | &nbsp;&nbsp;&nbsp;20.34%<sup>3</sup> | &nbsp;&nbsp;&nbsp;(6.37%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;12.07% | &nbsp;&nbsp;&nbsp;49.61% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$275 | &nbsp;&nbsp;$573 | &nbsp;&nbsp;$6301 | &nbsp;&nbsp;$64602 | &nbsp;&nbsp;$69778 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.92%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.92% | &nbsp;&nbsp;&nbsp;&nbsp;1.92% | &nbsp;&nbsp;&nbsp;&nbsp;1.93% | &nbsp;&nbsp;&nbsp;&nbsp;1.94% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.93%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.96% | &nbsp;&nbsp;&nbsp;&nbsp;1.92% | &nbsp;&nbsp;&nbsp;&nbsp;1.93% | &nbsp;&nbsp;&nbsp;&nbsp;1.94% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;0.25% | &nbsp;&nbsp;&nbsp;&nbsp;0.36% | &nbsp;&nbsp;&nbsp;&nbsp;0.37% | &nbsp;&nbsp;&nbsp;&nbsp;0.01% | &nbsp;&nbsp;&nbsp;&nbsp;0.29% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;0.24% | &nbsp;&nbsp;&nbsp;&nbsp;0.32% | &nbsp;&nbsp;&nbsp;&nbsp;0.37% | &nbsp;&nbsp;&nbsp;&nbsp;0.01% | &nbsp;&nbsp;&nbsp;&nbsp;0.29% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge.

<sup>3</sup> Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

88&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Large Cap Value Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$19.16 | &nbsp;&nbsp;$18.50 | &nbsp;&nbsp;$20.78 | &nbsp;&nbsp;$19.77 | &nbsp;&nbsp;$13.25 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.21 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.54 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.14) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.89) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.23) |
| **Net asset value, end of period** | &nbsp;&nbsp;$18.94 | &nbsp;&nbsp;$19.16 | &nbsp;&nbsp;$18.50 | &nbsp;&nbsp;$20.78 | &nbsp;&nbsp;$19.77 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.54%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.40%)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51.11% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$1798792 | &nbsp;&nbsp;$1796072 | &nbsp;&nbsp;$1977903 | &nbsp;&nbsp;$1988380 | &nbsp;&nbsp;$1724882 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.94% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.94% |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.37% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29% |
| Ratio of net investment income to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.37% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value.

<sup>3</sup> Total return during the period presented reflects waivers by the manager. Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;89

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Growth Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$11.33 | &nbsp;&nbsp;$9.68 | &nbsp;&nbsp;$12.29 | &nbsp;&nbsp;$18.05 | &nbsp;&nbsp;$10.17 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.95) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.98 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.64) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.80 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| Total dividends and distributions | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| **Net asset value, end of period** | &nbsp;&nbsp;$10.26 | &nbsp;&nbsp;$11.33 | &nbsp;&nbsp;$9.68 | &nbsp;&nbsp;$12.29 | &nbsp;&nbsp;$18.05 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(9.44%) | &nbsp;&nbsp;&nbsp;17.05% | &nbsp;&nbsp;&nbsp;&nbsp;(13.08%) | &nbsp;&nbsp;&nbsp;&nbsp;(5.76%) | &nbsp;&nbsp;&nbsp;109.54% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$5652 | &nbsp;&nbsp;$9174 | &nbsp;&nbsp;$8144 | &nbsp;&nbsp;$3864 | &nbsp;&nbsp;$5016 |
| Ratio of expenses to average net assets<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.51%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54% | &nbsp;&nbsp;&nbsp;&nbsp;1.56% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.56% |
| Ratio of expenses to average net assets prior to fees waived<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.55%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.66% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.61% | &nbsp;&nbsp;&nbsp;&nbsp;1.57% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;(1.03%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.96%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.14%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.19%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.18%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;(1.07%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.08%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.21%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.20%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.20%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>3</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>4</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

90&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Growth Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$6.71 | &nbsp;&nbsp;$5.77 | &nbsp;&nbsp;$7.85 | &nbsp;&nbsp;$13.43 | &nbsp;&nbsp;$8.02 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.23) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.98) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.56 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.33 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| Total dividends and distributions | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| **Net asset value, end of period** | &nbsp;&nbsp;$6.03 | &nbsp;&nbsp;$6.71 | &nbsp;&nbsp;$5.77 | &nbsp;&nbsp;$7.85 | &nbsp;&nbsp;$13.43 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(10.13%) | &nbsp;&nbsp;&nbsp;16.29% | &nbsp;&nbsp;&nbsp;&nbsp;(13.76%) | &nbsp;&nbsp;&nbsp;&nbsp;(6.51%) | &nbsp;&nbsp;&nbsp;108.02% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$98 | &nbsp;&nbsp;$142 | &nbsp;&nbsp;$1132 | &nbsp;&nbsp;$10474 | &nbsp;&nbsp;$14372 |
| Ratio of expenses to average net assets<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29% | &nbsp;&nbsp;&nbsp;&nbsp;2.31% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31% |
| Ratio of expenses to average net assets prior to fees waived<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36% | &nbsp;&nbsp;&nbsp;&nbsp;2.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;(1.79%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.71%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.89%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.94%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.93%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;(1.83%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.83%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.96%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.95%) | &nbsp;&nbsp;&nbsp;&nbsp;(1.95%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>3</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>4</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;91

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Growth Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$13.68 | &nbsp;&nbsp;$11.65 | &nbsp;&nbsp;$14.52 | &nbsp;&nbsp;$20.37 | &nbsp;&nbsp;$11.25 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment loss<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.20 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.44) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.04 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net realized gain | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| Total dividends and distributions | &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;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.92) |
| **Net asset value, end of period** | &nbsp;&nbsp;$12.41 | &nbsp;&nbsp;$13.68 | &nbsp;&nbsp;$11.65 | &nbsp;&nbsp;$14.52 | &nbsp;&nbsp;$20.37 |
| **Total return<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(9.28%) | &nbsp;&nbsp;&nbsp;&nbsp;17.43% | &nbsp;&nbsp;&nbsp;&nbsp;(12.86%) | &nbsp;&nbsp;&nbsp;&nbsp;(5.54%) | &nbsp;&nbsp;&nbsp;110.06% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$643121 | &nbsp;&nbsp;$733745 | &nbsp;&nbsp;$492252 | &nbsp;&nbsp;$732235 | &nbsp;&nbsp;$737128 |
| Ratio of expenses to average net assets<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.26%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29% | &nbsp;&nbsp;&nbsp;&nbsp;1.31% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31% |
| Ratio of expenses to average net assets prior to fees waived<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.30%<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36% | &nbsp;&nbsp;&nbsp;&nbsp;1.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33% |
| Ratio of net investment loss to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;(0.79%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.71%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.89%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.94%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.93%) |
| Ratio of net investment loss to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;(0.83%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.83%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.96%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.95%) | &nbsp;&nbsp;&nbsp;&nbsp;(0.95%) |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111% |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value. Total return during the period presented reflects waivers by the manager. Performance would have been lower had the waivers not been in effect.

<sup>3</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>4</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

See accompanying notes, which are an integral part of the financial statements.

92&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Value Fund Class A

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$13.91 | &nbsp;&nbsp;$11.93 | &nbsp;&nbsp;$14.90 | &nbsp;&nbsp;$14.93 | &nbsp;&nbsp;$8.36 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.95) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.92 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.81) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.88) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.54) |
| **Net asset value, end of period** | &nbsp;&nbsp;$12.32 | &nbsp;&nbsp;$13.91 | &nbsp;&nbsp;$11.93 | &nbsp;&nbsp;$14.90 | &nbsp;&nbsp;$14.93 |
| **Total return<sup>3</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(3.89%) | &nbsp;&nbsp;&nbsp;18.43% | &nbsp;&nbsp;&nbsp;&nbsp;(12.44%) | &nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;86.21% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$5098 | &nbsp;&nbsp;$7746 | &nbsp;&nbsp;$6852 | &nbsp;&nbsp;$3328 | &nbsp;&nbsp;$3765 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.41%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.43% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.44% | &nbsp;&nbsp;&nbsp;&nbsp;1.46% | &nbsp;&nbsp;&nbsp;&nbsp;1.49% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.49%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.53% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48% | &nbsp;&nbsp;&nbsp;&nbsp;1.46% | &nbsp;&nbsp;&nbsp;&nbsp;1.50% |
| Ratio of net investment income (loss) to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;0.89% | &nbsp;&nbsp;&nbsp;&nbsp;0.94% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.07% | &nbsp;&nbsp;&nbsp;&nbsp;(0.26%) | &nbsp;&nbsp;&nbsp;&nbsp;1.65% |
| Ratio of net investment income (loss) to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;&nbsp;0.84% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.03% | &nbsp;&nbsp;&nbsp;&nbsp;(0.26%) | &nbsp;&nbsp;&nbsp;&nbsp;1.64% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85%<sup>7</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Amount is less than $0.005 per share.

<sup>3</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of Wellington Management Company LLP replaced Cardinal Capital Management LLC as one of the sub-advisors to Optimum Small-Mid Cap Value during the year ended March 31, 2025, the Fund's portfolio turnover rate increased during the year ended March 31, 2025.

<sup>7</sup> As a result of Cardinal Capital Management LLC replaced Westwood Management Corp. as one of the sub-advisors to Optimum Small-Mid Cap Value Fund during the Fund's year ended March 31, 2021, the Fund's portfolio turnover rate increased during the year ended March 31, 2021.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;93

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Value Fund Class C

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$11.70 | &nbsp;&nbsp;$9.96 | &nbsp;&nbsp;$12.62 | &nbsp;&nbsp;$12.78 | &nbsp;&nbsp;$7.22 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.66) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.94 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.62) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.03 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &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;(0.02) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.88) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.47) |
| **Net asset value, end of period** | &nbsp;&nbsp;$10.17 | &nbsp;&nbsp;$11.70 | &nbsp;&nbsp;$9.96 | &nbsp;&nbsp;$12.62 | &nbsp;&nbsp;$12.78 |
| **Total return<sup>3</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(4.57%) | &nbsp;&nbsp;&nbsp;17.48% | &nbsp;&nbsp;&nbsp;&nbsp;(13.13%) | &nbsp;&nbsp;&nbsp;&nbsp;5.70% | &nbsp;&nbsp;&nbsp;84.75% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$60 | &nbsp;&nbsp;$88 | &nbsp;&nbsp;$939 | &nbsp;&nbsp;$9318 | &nbsp;&nbsp;$11354 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.16%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.18% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19% | &nbsp;&nbsp;&nbsp;&nbsp;2.21% | &nbsp;&nbsp;&nbsp;&nbsp;2.24% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.24%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23% | &nbsp;&nbsp;&nbsp;&nbsp;2.21% | &nbsp;&nbsp;&nbsp;&nbsp;2.25% |
| Ratio of net investment income (loss) to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;&nbsp;0.19% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32% | &nbsp;&nbsp;&nbsp;&nbsp;(1.01%) | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
| Ratio of net investment income (loss) to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;0.04% | &nbsp;&nbsp;&nbsp;&nbsp;0.09% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28% | &nbsp;&nbsp;&nbsp;&nbsp;(1.01%) | &nbsp;&nbsp;&nbsp;&nbsp;0.89% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85%<sup>7</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Amount is less than $0.005 per share.

<sup>3</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of Wellington Management Company LLP replaced Cardinal Capital Management LLC as one of the sub-advisors to Optimum Small-Mid Cap Value during the year ended March 31, 2025, the Fund's portfolio turnover rate increased during the year ended March 31, 2025.

<sup>7</sup> As a result of Cardinal Capital Management LLC replaced Westwood Management Corp. as one of the sub-advisors to Optimum Small-Mid Cap Value Fund during the Fund's year ended March 31, 2021, the Fund's portfolio turnover rate increased during the year ended March 31, 2021.

See accompanying notes, which are an integral part of the financial statements.

94&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Small-Mid Cap Value Fund Institutional Class

Selected data for each share of the Fund outstanding throughout each period were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** | &nbsp;&nbsp;**Year ended** |
|  | &nbsp;&nbsp;**3/31/25** | &nbsp;&nbsp;**3/31/24** | &nbsp;&nbsp;**3/31/23** | &nbsp;&nbsp;**3/31/22** | &nbsp;&nbsp;**3/31/21** |
| **Net asset value, beginning of period** | &nbsp;&nbsp;$15.09 | &nbsp;&nbsp;$12.90 | &nbsp;&nbsp;$15.98 | &nbsp;&nbsp;$15.94 | &nbsp;&nbsp;$8.90 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.23 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.57) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.37 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.91) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.60 |
| **Less dividends and distributions from:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.88) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45) |
| Total dividends and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) |
| **Net asset value, end of period** | &nbsp;&nbsp;$13.45 | &nbsp;&nbsp;$15.09 | &nbsp;&nbsp;$12.90 | &nbsp;&nbsp;$15.98 | &nbsp;&nbsp;$15.94 |
| **Total return<sup>3</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;(3.62%) | &nbsp;&nbsp;&nbsp;&nbsp;18.68% | &nbsp;&nbsp;&nbsp;&nbsp;(12.19%) | &nbsp;&nbsp;&nbsp;&nbsp;6.74% | &nbsp;&nbsp;&nbsp;&nbsp;86.63% |
| **Ratios and supplemental data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | &nbsp;&nbsp;$630151 | &nbsp;&nbsp;$678538 | &nbsp;&nbsp;$603755 | &nbsp;&nbsp;$779594 | &nbsp;&nbsp;$701597 |
| Ratio of expenses to average net assets<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.16%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19% | &nbsp;&nbsp;&nbsp;&nbsp;1.21% | &nbsp;&nbsp;&nbsp;&nbsp;1.24% |
| Ratio of expenses to average net assets prior to fees waived<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.24%<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23% | &nbsp;&nbsp;&nbsp;&nbsp;1.21% | &nbsp;&nbsp;&nbsp;&nbsp;1.25% |
| Ratio of net investment income (loss) to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;1.14% | &nbsp;&nbsp;&nbsp;&nbsp;1.19% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32% | &nbsp;&nbsp;&nbsp;&nbsp;(0.01%) | &nbsp;&nbsp;&nbsp;&nbsp;1.90% |
| Ratio of net investment income (loss) to average net assets prior to fees waived | &nbsp;&nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;&nbsp;1.09% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28% | &nbsp;&nbsp;&nbsp;&nbsp;(0.01%) | &nbsp;&nbsp;&nbsp;&nbsp;1.89% |
| Portfolio turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117%<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85%<sup>7</sup> |

---

<sup>1</sup> Calculated using average shares outstanding.

<sup>2</sup> Amount is less than $0.005 per share.

<sup>3</sup> Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value. Total return during the period presented reflects waivers by the manager. Performance would have been lower had the waivers not been in effect.

<sup>4</sup> Expense ratios do not include expenses of any investment companies in which the Fund invests.

<sup>5</sup> Includes non-recurring expenses of 0.01% for the year ended March 31, 2025.

<sup>6</sup> As a result of Wellington Management Company LLP replaced Cardinal Capital Management LLC as one of the sub-advisors to Optimum Small-Mid Cap Value during the year ended March 31, 2025, the Fund's portfolio turnover rate increased during the year ended March 31, 2025.

<sup>7</sup> As a result of Cardinal Capital Management LLC replaced Westwood Management Corp. as one of the sub-advisors to Optimum Small-Mid Cap Value Fund during the Fund's year ended March 31, 2021, the Fund's portfolio turnover rate increased during the year ended March 31, 2021.

See accompanying notes, which are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;95

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Notes to financial statements
Optimum Fund Trust

March 31, 2025

Optimum Fund Trust (Trust) is organized as a Delaware statutory trust and offers 6 series: Optimum Fixed Income Fund, Optimum International Fund, Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, Optimum Small-Mid Cap Growth Fund, and Optimum Small-Mid Cap Value Fund, (each, a Fund, or collectively, the Funds). The Trust is an open-end investment company. Each Fund is considered diversified under the Investment Company Act of 1940, as amended (1940 Act), and offers Class A, Class C, and Institutional Class shares. Class A shares are sold with a maximum front-end sales charge of 4.50% for Optimum Fixed Income Fund and 5.75% for Optimum International Fund, Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, Optimum Small-Mid Cap Growth Fund, and Optimum Small-Mid Cap Value Fund. Class C shares have no upfront sales charge, but are sold with a contingent deferred sales charge (CDSC) of 1.00%, which will be incurred if redeemed during the first 12 months. Institutional Class shares are not subject to a sales charge and are offered for sale exclusively to certain eligible investors.

1. Significant Accounting Policies

Each Fund follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services — Investment Companies. The following accounting policies are in accordance with US generally accepted accounting principles (US GAAP) and are consistently followed by the Funds.

**Security Valuation — Equity securities and exchange-traded funds (ETFs), except those traded on the Nasdaq Stock Market LLC (Nasdaq), are valued at the last quoted sales price as of the time of the regular close of the New York Stock Exchange (NYSE) on the valuation date. Equity securities and ETFs traded on the Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sales price. If, on a particular day, an equity security or ETF does not trade, the mean between the bid and the ask prices will be used, which approximates fair value. Equity securities listed on a foreign exchange are normally valued at the last quoted sales price on the valuation date. US government and agency securities are valued at the mean between the bid and the ask prices, which approximates fair value. Open-end investment companies, other than ETFs, are valued at their published net asset value (NAV). Fixed income securities, credit default swap (CDS) contracts, interest rate swap (IRS) contracts, CDS and IRS options contracts (swaptions) are generally priced based upon valuations provided by an independent pricing service or broker/counterparty in accordance with methodologies included within Delaware Management Company (DMC)'s Pricing Policy (Policy). Fixed income security valuations are then reviewed by DMC as part of its duties as each Fund's valuation designee (Valuation Designee) and, to the extent required by the Policy and applicable regulation, fair valued consistent with the Policy. To the extent current market prices are not available, the pricing service may take into account developments related to the specific security, as well as transactions in comparable securities. Valuations for fixed income securities utilize matrix systems, which reflect such factors as security prices, yields, maturities, and ratings, and are supplemented by dealer and exchange quotations. For asset-backed securities, collateralized mortgage obligations (CMOs), commercial mortgage securities, and certain US government agency mortgage securities, pricing vendors utilize matrix pricing which considers prepayment speed, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity, and type as well as broker/dealer-supplied prices. An adjustment factor may be applied to the daily vendor provided price for certain security/instrument types to arrive at a fair value for the applicable positions. The adjustment factor is determined by comparing the prices of trades with vendor prices over a time period reasonable by DMC, calculating the weighted average differences, and using that difference to adjust vendor prices. Swap prices are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows, trades, and values of the underlying reference instruments. Forward foreign currency exchange contracts are valued at the mean between the bid and the ask prices, which approximates fair value. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available. Futures contracts and options on futures contracts are valued at the daily quoted settlement prices. Exchange-traded options are valued at the last reported sale price or, if no sales are reported, at the mean between the last reported bid and the ask prices, which approximates fair value. Investments in repurchase agreements are generally valued at par, which approximates fair value, each business day. Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the 1940 Act (Rule 2a-5). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees (Board) has designated DMC to perform the fair value determination relating to all applicable Fund investments. DMC has established a Pricing Committee to assist with its designated responsibilities as Valuation Designee, and DMC may carry out its designated responsibilities as Valuation Designee through the Pricing Committee and other teams and committees, which operate under policies and procedures approved by the Board and subject to the Board's oversight. Fair value pricing may be used more frequently for securities traded primarily in non-US markets. If a foreign (non-US) equity security's value has materially changed after the close of the security's primary exchange or principal market but before the close of the NYSE, the security may be valued at fair value. With respect to foreign (non-US) equity securities, the Funds may determine the fair value of investments based on information provided by pricing vendors,**

&nbsp;&nbsp;&nbsp;&nbsp;96

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

which may recommend fair value or adjustments with reference to other securities, indexes or assets. In considering whether fair valuation is required and in determining fair values, the Valuation Designee may, among other things, consider significant events (which may be considered to include changes in the value of US securities or securities indexes) that occur after the close of the relevant market and before the close of the NYSE. The Valuation Designee may utilize modeling tools provided by third-party vendors to determine fair values of non-US securities.

**Federal and Foreign Income Taxes — No provision for federal income taxes has been made as each Fund intends to continue to qualify for federal income tax purposes as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and make the requisite distributions to shareholders. Each Fund evaluates tax positions taken or expected to be taken in the course of preparing each Fund's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the "more-likely-than-not" threshold are recorded as a tax benefit or expense in the current year. Management has analyzed each Fund's tax positions taken or expected to be taken on each Fund's federal income tax returns through the year ended March 31, 2025, and for all open tax years (years ended March 31, 2022–March 31, 2024), and has concluded that no provision for federal income tax is required in each Fund's financial statements. In regard to foreign taxes only, each Fund has open tax years in certain foreign countries in which it invests that may date back to the inception of each Fund. If applicable, each Fund recognizes interest and tax penalties on unrecognized tax benefits in "Interest and tax penalties" on the "Statements of operations." During the year ended March 31, 2025, the Funds did not incur any interest or tax penalties.**

**Class Accounting — Investment income, common expenses, and realized and unrealized gain (loss) on investments are allocated to the various classes of each Fund on the basis of daily net assets of each class. Distribution expenses relating to a specific class are charged directly to that class.**

**Repurchase Agreements — Each Fund may purchase certain US government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with each Fund's custodian or a third-party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. All open repurchase agreements as of the date of this report were entered into on July 26, 2024, March 31, 2025, and March 31, 2025 and matured by July 26, 2026, April 1, 2025, and April 2, 2025, respectively.**

**Underlying Funds — Each Fund may invest in other investment companies (Underlying Funds) to the extent permitted by the 1940 Act. The Underlying Funds in which each Fund may invest include ETFs. Each Fund will indirectly bear the investment management fees and other expenses of the Underlying Funds.**

**Short Sales — Each Fund may make short sales in an attempt to protect against declines in an individual security or the overall market, to manage duration, or for such other purposes consistent with each Fund's investment objective and strategies. Typically, short sales are transactions in which each Fund sells a security it does not own and, at the time a short sale is effected, each Fund incur an obligation to replace the security borrowed at whatever its price may be at the time each Fund purchases it for delivery to the lender. The price at such time may be more or less than the price at which the security was sold by each Fund. When a short sale transaction is closed out by delivery of the security, any gain or loss on the transaction generally is taxable as short-term capital gain or loss. Until the security is replaced, each Fund is required to pay the lender amounts equal to any dividends or interest that accrue during the period of the loan. To borrow the security, each Fund also may be required to pay a premium, which would increase the cost of the security sold. The proceeds of the short sale, and potentially additional margin, will be retained by the broker from whom the security is borrowed, to the extent necessary to meet margin requirements, until the short position is closed out. At March 31, 2025, there were no open short sales in the Funds.**

**To Be Announced Trades (TBA) — Optimum Fixed Income Fund may contract to purchase or sell securities for a fixed price at a transaction date beyond the customary settlement period (examples: when issued, delayed delivery, forward commitment, or TBA transactions) consistent with the Fund's ability to manage its investment portfolio and meet redemption requests. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield with payment and delivery taking place more than three days in the future, or after a period longer than the customary settlement period for that type of security. No interest will be earned by the Fund on such purchases until the securities are delivered or the transaction is completed; however, the market value may change prior to delivery. At March 31, 2025, the Fund received $1,955,000 cash collateral for TBA trades, which is included in "Cash collateral due to brokers" on the "Statements of assets and liabilities."**

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;97

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

1. Significant Accounting Policies (continued)

**Mortgage Dollar Rolls — Optimum Fixed Income Fund entered into mortgage dollar rolls in which the Fund sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously enter into contracts to repurchase somewhat similar (same type, coupon and maturity) securities on a specified future date. During the roll period, the Fund forgoes principal and interest paid on the securities. The Fund is compensated by the interest earned on the cash proceeds of the initial sale and by the lower repurchase price at the future date. The difference between the sale proceeds and the lower repurchase price is recorded as a realized gain on investment transactions. The Fund maintains a segregated account, the dollar value of which is at least equal to its obligations, with respect to dollar rolls. The Fund is subject to the risk that the market value of the securities the Fund is obligated to repurchase under the agreement may decline below the repurchase price. The Fund is subject to leverage risk on certain transactions, such as the loans of portfolio securities, and the use of when issued or delayed delivery transactions or derivative instruments, may give rise to leverage, magnifying gains and losses and causing the Fund to be more volatile than if it had not been leveraged. The use of such transactions entails a heightened risk of loss.**

**Foreign Currency Transactions — Transactions denominated in foreign currencies are recorded at the prevailing exchange rates on the valuation date. The value of all assets and liabilities denominated in foreign currencies is translated daily into US dollars at the exchange rate of such currencies against the US dollar. Transaction gains or losses resulting from changes in exchange rates during the reporting period or upon settlement of the foreign currency transaction are reported in operations for the current period. Each Fund generally bifurcates that portion of realized gains and losses on investments in debt securities which is due to changes in foreign exchange rates from that which is due to changes in market prices of debt securities. That portion of realized gains (losses), attributable to changes in foreign exchange rates, is included on the "Statements of operations" under "Net realized gain (loss) on foreign currencies." For foreign equity securities, the realized gains and losses are included on the "Statements of operations" under "Net realized gain (loss) on investments." Each Fund reports certain foreign currency related transactions as components of realized gains (losses) for financial reporting purposes, whereas such components are treated as ordinary income (loss) for federal income tax purposes.**

**Derivative Financial Instruments — The Funds may invest in various derivative financial instruments. These instruments are used to obtain exposure to a security, commodity, index, market, and/or other assets without owning or taking physical custody of securities, commodities and/or other referenced assets or to manage market, equity, credit, interest rate, forward foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage and involve risks, including the imperfect correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the instrument. Pursuant to Rule 18f-4 under the 1940 Act, among other things, the Funds intend to either use derivative financial instruments with embedded leverage in a limited manner or comply with an outer limit on fund leverage risk based on value-at-risk.**

**Segregation and Collateralization — In certain cases, based on requirements and agreements with certain exchanges and third-party broker-dealers, the Funds may deliver or receive collateral in connection with certain investments (e.g., futures contracts, forward foreign currency exchange contracts, options written, securities with extended settlement periods, and swaps). Certain countries require that cash reserves be held while investing in companies incorporated in that country. Cash collateral that has been pledged/received to cover obligations of the Funds under derivative contracts, if any, will be reported separately on the "Statements of assets and liabilities" as cash collateral due to/from broker. Securities collateral pledged for the same purpose, if any, is noted on the "Schedules of investments."**

**Use of Estimates — The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and the differences could be material.**

**Other — Expenses directly attributable to a Fund are charged directly to that Fund. Other expenses common to various funds within the Trust are generally allocated among such funds on the basis of average net assets. Management fees and certain other expenses are paid monthly. Security transactions are recorded on the date the securities are purchased or sold (trade date) for financial reporting purposes. Costs used in calculating realized gains and losses on the sale of investment securities are those of the specific securities sold. Dividend income is recorded on the ex-dividend date and interest income is recorded on an accrual basis. Income and capital gain distributions from any Underlying Funds in which the Funds invest are recorded on the ex-dividend date. Discounts and premiums on debt securities are accreted or amortized to interest income, respectively, over the lives of the respective securities using the effective interest method. Premiums on callable debt securities are amortized to interest income to the earliest call date using the effective interest method. Realized gains (losses) on paydowns of asset- and mortgage-backed securities are classified as interest income. When a loan agreement is purchased, a Fund may pay an assignment fee. On an**

&nbsp;&nbsp;&nbsp;&nbsp;98

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

ongoing basis, a Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a loan agreement. Prepayment penalty fees are received upon the prepayment of a loan agreement by the borrower. Prepayment penalty, facility, commitment, consent, and amendment fees are recorded to income as earned or paid. Distributions received from investments in real estate investment trusts (REITs) are recorded as dividend income on the ex-dividend date, which are estimated, subject to reclassification upon notice of the character of such distributions by the issuer. Foreign dividends are also recorded on the ex-dividend date or as soon after the ex-dividend date that the Funds are aware of such dividends, net of all tax withholdings, a portion of which may be reclaimable. Withholding taxes and reclaims on foreign dividends and interest have been recorded in accordance with the Funds' understanding of the applicable country's tax rules and rates. Certain Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Each Fund may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The "Statements of operations" include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes**.** Each Fund may pay foreign capital gains taxes on certain foreign securities held, which are reported as components of realized losses for financial reporting purposes, whereas such components are treated as ordinary loss for federal income tax purposes. Each Fund declares and pays dividends from net investment income and distributions from net realized gain on investments, if any, at least annually. Each Fund may distribute more frequently, if necessary for tax purposes. Dividends and distributions, if any, are recorded on the ex-dividend date.

In November 2023, FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole thereby enabling better understanding of how an entity's segments impact overall performance. DMC, each Fund's investment adviser, acts as each Fund's chief operating decision maker (CODM), assessing performance and making decisions about resource allocation. The CODM has determined that each Fund has a single operating segment since each Fund has a single investment strategy disclosed in the prospectus against which the CODM assesses performance. When assessing segment performance and making decisions about segment resources, the CODM relies on each Fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in each Fund's financial statements. Adoption of the new standard impacted each Fund's financial statements note disclosures only, and did not affect any Fund's financial position or the results of its operations.

Each Fund receives earnings credits from its custodian when positive cash balances are maintained, which may be used to offset custody fees. The expenses paid under this arrangement are included on the "Statements of operations" under "Custodian fees" with the corresponding expenses offset included under "Less expenses paid indirectly." For the year ended March 31, 2025, each Fund earned the following amounts under this arrangement:

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Custody Credits |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$95799 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9422 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;14072 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3656 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3680 |

---

Each Fund receives earnings credits from its transfer agent when positive cash balances are maintained, which may be used to offset transfer agent fees. If the amount earned is greater than $1, the expenses paid under this arrangement are included on the "Statements of operations" under "Dividend disbursing and transfer agent fees and expenses" with the corresponding expenses offset included under "Less expenses paid indirectly." For the year ended March 31, 2025, each Fund earned the following amounts under this arrangement:

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;99

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

1. Significant Accounting Policies (continued)

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Earnings Credits |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$4 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;4 |

---

2. Investment Management, Administration Agreements, and Other Transactions with Affiliates

DMC, a series of Macquarie Investment Management Business Trust (MIMBT), furnishes investment management services to each Fund and has full discretion and responsibility, subject to the overall supervision of the Board, to select and contract with one or more investment sub-advisors to manage the investment operations and composition of each Fund, and to render investment advice for each Fund, including the purchase, retention, and dispositions of investments, securities, and cash contained in each Fund. The investment management agreement obligates DMC to implement decisions with respect to the allocation or reallocation of each Fund's assets among one or more current or additional sub-advisors, and to monitor the sub-advisors' compliance with the relevant Fund's investment objective, policies and restrictions. DMC pays the sub-advisors out of its fees, which are calculated daily and paid monthly.

In accordance with the terms of its respective investment management agreement, DMC is entitled to receive an annual fee equal to the following percentage rates of the average daily net assets of each Fund, which is calculated daily and paid monthly:

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management Fee (annual rate as a percentage of average daily net assets) |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6000% of net assets up to $500 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5500% of net assets from $500 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5000% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.4500% of net assets from $1.5 billion to $2 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.4250% of net assets from $2 billion to $2.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.4000% of net assets from $2.5 billion to $5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3750% of net assets over $5 billion |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7500% of net assets up to $500 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7150% of net assets from $500 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7000% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6750% of net assets from $1.5 billion to $2 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6500% of net assets from $2 billion to $2.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6000% of net assets over $2.5 billion |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7500% of net assets up to $500 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7000% of net assets from $500 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6500% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6250% of net assets from $1.5 billion to $2 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6000% of net assets from $2 billion to $2.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5750% of net assets from $2.5 billion to $5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5500% of net assets over $5 billion |

---

&nbsp;&nbsp;&nbsp;&nbsp;100

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management Fee (annual rate as a percentage of average daily net assets) |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7000% of net assets up to $500 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6500% of net assets from $500 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6000% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5750% of net assets from $1.5 billion to $2 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5500% of net assets from $2 billion to $2.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5250% of net assets from 2.5 billion to $5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5000% of net assets over $5 billion |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.0000% of net assets up to $500 million<sup>1</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.9000% of net assets from $500 million to $750 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.8000% of net assets from $750 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7500% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7000% of net assets over $1.5 billion |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.9000% of net assets up to $500 million<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.8000% of net assets from $500 million to $750 million |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7500% of net assets from $750 million to $1 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7000% of net assets from $1 billion to $1.5 billion |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6500% of net assets over $1.5 billion |

---

<sup>1</sup> Effective August 1, 2024. Prior to August 1, 2024, the Fund paid DMC an annual fee of 1.1000% of net assets up to $250 million and 1.0000% of net assets from $250 million to $500 million.

<sup>2</sup> Effective August 1, 2024. Prior to August 1, 2024, the Fund paid DMC an annual fee of 1.0000% of net assets up to $250 million and 0.9000% of net assets from $250 million to $500 million.

DMC has entered into sub-advisory agreements for the Trust as follows: Optimum Fixed Income Fund – Pacific Investment Management Company, LLC (PIMCO), Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited; Optimum International Fund – Acadian Asset Management LLC (Acadian) and Baillie Gifford Overseas Limited (Baillie Gifford); Optimum Large Cap Growth Fund – Los Angeles Capital Management LLC (Los Angeles Capital) and American Century Investment Management, Inc. (American Century); Optimum Large Cap Value Fund – Massachusetts Financial Services Company (MFS) and Great Lakes Advisors, LLC (Great Lakes); Optimum Small-Mid Cap Growth Fund – Principal Global Investors, LLC (Principal) and Peregrine Capital Management, LLC (Peregrine); Optimum Small-Mid Cap Value Fund – LSV Asset Management (LSV) and effective June 12, 2024, Wellington Management Company LLP (Wellington). Prior to June 12, 2024, Cardinal Capital Management LLC was also a sub-advisor for Optimum Small-Mid Cap Value.

For the year ended March 31, 2025, DMC paid the following sub-advisory fees:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;Sub-advisory fees |
| Optimum Fixed Income Fund | &nbsp;&nbsp;$3183171 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;3203960 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;4197572 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;5459291 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;3503235 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;2811119 |

---

DMC has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any distribution and service (12b-1) fees, acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations), in order to prevent total annual fund operating expenses from exceeding the following percentages of each Fund's average daily net assets from April 1, 2024 (except as noted) through July 30, 2025. These waivers and

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;101

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

2. Investment Management, Administration Agreements, and Other Transactions with Affiliates (continued)

reimbursements may only be terminated by agreement of DMC and the Funds. The waivers and reimbursements are accrued daily and received monthly.

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Operating expense<br> limitation as<br> a percentage<br> of average<br> daily net assets |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;0.80%\* |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;1.08% |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;0.95%\* |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;0.91%\* |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;1.24%\* |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;1.14%\* |

---

\* Prior to July 31, 2024, the amounts for Optimum Fixed Income Fund, Optimum Large Cap Growth Fund, Optimum Large Cap Growth Fund, Optimum Small-Mid Cap Growth Fund and Optimum Small-Mid Cap Value Fund were 0.83%, 0.97% ,0.92%, 1.29%, and 1.18%, respectively.

After consideration of class specific expenses, including 12b-1 fees, the class level operating expense limitation as a percentage of average daily net assets from April 1, 2024 (except as noted) through July 30, 2025, unless terminated by agreement of DMC and each Fund, is as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Operating expense limitation as a percentage of average daily net assets | &nbsp;&nbsp;&nbsp;Operating expense limitation as a percentage of average daily net assets | &nbsp;&nbsp;&nbsp;Operating expense limitation as a percentage of average daily net assets |
| Fund | &nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;Institutional Class |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;1.05%\*\* | &nbsp;&nbsp;&nbsp;1.80%\*\* | &nbsp;&nbsp;&nbsp;0.80%\*\* |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;1.33% | &nbsp;&nbsp;&nbsp;2.08% | &nbsp;&nbsp;&nbsp;1.08% |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;1.20%\*\*\* | &nbsp;&nbsp;&nbsp;1.95%\*\*\* | &nbsp;&nbsp;&nbsp;0.95%\*\*\* |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;1.16%\*\*\*\* | &nbsp;&nbsp;&nbsp;1.91%\*\*\*\* | &nbsp;&nbsp;&nbsp;0.91%\*\*\*\* |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;1.49%\*\*\*\*\* | &nbsp;&nbsp;&nbsp;2.24%\*\*\*\*\* | &nbsp;&nbsp;&nbsp;1.24%\*\*\*\*\* |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;1.39%\*\*\*\*\*\* | &nbsp;&nbsp;&nbsp;2.14%\*\*\*\*\*\* | &nbsp;&nbsp;&nbsp;1.14%\*\*\*\*\*\* |

---

---

| | |
|:---|:---|
| \*\* | Effective July 31, 2024. Prior to July 31, 2024, these amounts for Class A, Class C, and Institutional Class were 1.08%, 1.83%, and 0.83%. |
| \*\*\* | Effective July 31, 2024. Prior to July 31, 2024, these amounts for Class A, Class C, and Institutional Class were 1.22%, 1.97%, and 0.97%. |
| \*\*\*\* | Effective July 31, 2024. Prior to July 31, 2024, these amounts for Class A, Class C, and Institutional Class were 1.17%, 1.92%, and 0.92%. |
| \*\*\*\*\* | Effective July 31, 2024. Prior to July 31, 2024, these amounts for Class A, Class C, and Institutional Class were 1.54%, 2.29%, and 1.29%. |
| \*\*\*\*\*\* | Effective July 31, 2023. Prior to July 31, 2024, these amounts for Class A, Class C, and Institutional Class were 1.43%, 2.18%, and 1.18%. |

---

Delaware Investments Fund Services Company (DIFSC), an affiliate of DMC, provides fund accounting and financial administrative oversight services to the Trust. These services include overseeing the Funds' pricing process, the calculation and payment of Fund expenses, and financial reporting in shareholder reports, registration statements and other regulatory filings. DIFSC also manages the process for the payment of dividends and distribution and dissemination of Funds' NAV and performance data. For these services, the Funds pay DIFSC an asset-based fee plus certain out-of-pocket expenses and transactional charges. DIFSC's fees are calculated daily and paid monthly based on the aggregate daily net assets of the Trust at the following annual rates: 0.0075% of the first $3.5 billion; 0.0070% of the next $2 billion; 0.0060% of the next $2 billion; and 0.0050% of aggregate average daily net assets in excess of $7.5 billion (Total Fee). Each Fund in the Trust pays a minimum of $4,000, which, in aggregate, is subtracted from the Total Fee. The fees payable to DIFSC under the service agreement described above are allocated among all funds in the Trust on a relative NAV basis. These amounts are included on the "Statements of operations" under "Accounting fees." For the year ended March 31, 2025, each Fund paid for these services as follows:

&nbsp;&nbsp;&nbsp;&nbsp;102

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Fees |
| Optimum Fixed Income Fund | $1570001 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;475839 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;1191650 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;1083643 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;430958 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;396936 |

---

DIFSC provides the Trust with administrative services including: preparation, filing and maintaining governing documents; preparation of materials and reports for the Board; and preparation and filing of registration statements and other regulatory filings. For these administrative services, the Trust pays DIFSC the following fee as a percentage of the Trust's average daily net assets (plus out-of-pocket expenses): 0.0525% of assets up to $7.5 billion; 0.0475% of assets from $7.5 billion to $10 billion; 0.0425% of assets from $10 billion to $12 billion; 0.0375% of assets from $12 billion to $14 billion and 0.0325% of assets over $14 billion.

DIFSC is also the shareholder servicing, dividend disbursing, and transfer agent for each Fund. For these services, the Trust pays DIFSC a fee at an annual rate of 0.16% of the Trust's total average daily net assets, subject to a minimum fee of $2,000 per class per Fund each month, plus out-of-pocket expenses. Pursuant to a sub-transfer agency agreement between DIFSC and BNY Mellon Investment Servicing (US) Inc. (BNYIS), BNYIS provides certain sub-transfer agency services to the Funds. Sub-transfer agency fees are paid by the Funds and are also included on the "Statements of operations" under "Dividend disbursing and transfer agent fees and expenses." The fees are calculated daily and paid as invoices on a monthly or quarterly basis.

Delaware Distributors, L.P. (DDLP), an affiliate of DMC, serves as the national distributor of each Fund's shares pursuant to a Distribution Agreement. Pursuant to the Distribution Agreement and Rule 12b-1 plan, each Fund pays DDLP annual 12b-1 fee of 0.25% of the average daily net assets of the Class A shares and 1.00% of the average daily net assets of the Class C shares. The fees are calculated daily and paid monthly. Institutional Class shares do not pay 12b-1 fees.

For the year ended March 31, 2025, DDLP earned commissions on sales of Class A shares for each Fund as follows:

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Class A |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$1554 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;1027 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;1170 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |

---

For the year ended March 31, 2025, DDLP received gross CDSC commissions on redemptions of each Fund's Class C shares, and these commissions were entirely used to offset upfront commissions previously paid by DDLP to broker/dealers on sales of those shares. The amounts received were as follows:

---

| | |
|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Class C |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;$444 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |

---

DMC, DIFSC, and DDLP are indirect, wholly owned subsidiaries of Macquarie Management Holdings, Inc. Certain officers of DMC, DIFSC, and DDLP are officers and/or Trustees of the Trust. These officers and Trustees are paid no compensation by the Funds.

In addition to the management fees and other expenses of a Fund, a Fund indirectly bears the investment management fees and other expenses of any Underlying Funds, including ETFs, in which it invests. The amount of these fees and expenses incurred indirectly by a Fund will vary based upon the expense and fee levels of any Underlying Funds and the number of shares that are owned of any Underlying Funds at different times.

MIMBT, of which DMC is a series, entered into a settlement agreement on September 19, 2024 with the US Securities and Exchange Commission (SEC) consenting to an order (Settlement Order) relating to a legacy investment strategy, the Absolute Return Mortgage-Backed

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;103

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

2. Investment Management, Administration Agreements, and Other Transactions with Affiliates (continued)

Securities Strategy (ARMBS Strategy). MIMBT no longer offers the ARMBS Strategy. MIMBT agreed to the Settlement Order without admitting or denying the SEC's findings. The Settlement Order does not impact MIMBT's ability to continue to provide services to each Fund. In connection with the findings in the Settlement Order, MIMBT made a payment to Optimum Fixed Income Fund on October 25, 2024, in the amount of $533,778. An amount of $521,912 is included on the "Statements of operations" under "Net increase from payment by affiliates", an amount of $608 is included in management fees on the "Statements of operations", and an amount of $11,258 is included on the "Statements of changes in net assets" under "Proceeds from shares sold."

During the year ended March 31, 2025, DMC reimbursed Optimum Fixed Income Fund $11,540 in connection with a trade error. This amount is included in "Net increase from payment by affiliates" in the "Statements of operations." Payment by affiliates had no impact on total return.

3. Investments

For the year ended March 31, 2025, each Fund made purchases and sales of investment securities other than short-term investments as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Purchases<br> other than<br> US government<br> securities | &nbsp;&nbsp;&nbsp;Purchases of<br> US government<br> securities | &nbsp;&nbsp;&nbsp;Sales<br> other than<br> US government<br> securities | &nbsp;&nbsp;&nbsp;Sales of<br> US government<br> securities |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$724672282 | &nbsp;&nbsp;&nbsp;$10974494852 | &nbsp;&nbsp;&nbsp;$645922018 | &nbsp;&nbsp;&nbsp;$10980548097 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436913624 | &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;482666212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;1093145139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1307604011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204834071 | &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;294122972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943798518 | &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;985124935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781577478 | &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;799533502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

The tax cost of investments and derivatives includes adjustments to net unrealized appreciation (depreciation) which may not necessarily be the final tax cost basis adjustments but which approximate the tax basis unrealized gains and losses that may be realized and distributed to shareholders. At March 31, 2025, the cost and unrealized appreciation (depreciation) of investments and derivatives for federal income tax purposes for each Fund were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Fund | &nbsp;&nbsp;&nbsp;Cost of<br> investments<br> and derivatives | &nbsp;&nbsp;&nbsp;Aggregate<br> unrealized<br> appreciation<br> of investments<br> and derivatives | &nbsp;&nbsp;&nbsp;Aggregate<br> unrealized<br> depreciation<br> of investments<br> and derivatives | &nbsp;&nbsp;&nbsp;Net unrealized<br> appreciation<br> (depreciation)<br> of investments<br> and derivatives |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$3687549409 | &nbsp;&nbsp;&nbsp;$36556111 | &nbsp;&nbsp;&nbsp;$(161678676) | &nbsp;&nbsp;&nbsp;$(125122565) |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731108372 | &nbsp;&nbsp;&nbsp;&nbsp;153260927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86430306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66830621 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;1235647756 | &nbsp;&nbsp;&nbsp;&nbsp;668985972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45769654) | &nbsp;&nbsp;&nbsp;&nbsp;623216318 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;1324898265 | &nbsp;&nbsp;&nbsp;&nbsp;560283931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43386638) | &nbsp;&nbsp;&nbsp;&nbsp;516897293 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683609194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63218681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92608721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29390040) |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613135809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98247888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77283800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20964088 |

---

US GAAP defines fair value as the price that each Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three-level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the

&nbsp;&nbsp;&nbsp;&nbsp;104

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

asset or liability based on the best information available under the circumstances. Each Fund's investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-level hierarchy of inputs is summarized as follows:

Level 1 - Inputs are quoted prices in active markets for identical investments. (Examples: equity securities, open-end investment companies, futures contracts, and exchange-traded options contracts)

Level 2 - Other observable inputs, including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs. (Examples: debt securities, government securities, swap contracts, forward foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, and fair valued securities)

Level 3 - Significant unobservable inputs, including each Fund's own assumptions used to determine the fair value of investments. (Examples: broker-quoted securities and fair valued securities)

Level 3 investments are valued using significant unobservable inputs. Each Fund may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may also be based upon current market prices of securities that are comparable in coupon, rating, maturity, and industry. The derived value of a Level 3 investment may not represent the value which is received upon disposition and this could impact the results of operations.

The following tables summarize the valuation of each Fund's investments by fair value hierarchy levels as of March 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund |
| | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 2 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| Securities |  |  |  |  |
| Assets: |  |  |  |  |
| Agency Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$28091164 | &nbsp;&nbsp;&nbsp;&nbsp;$42993 | &nbsp;&nbsp;&nbsp;&nbsp;$28134157 |
| Agency Commercial Mortgage-Backed Securities | &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;1378689 | &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;1378689 |
| Agency Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094669370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094669370 |
| Collateralized Debt Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119003436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119753436 |
| Common Stocks | &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;1012848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012848 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858845209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858845209 |
| Government Agency Obligations | &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;11955460 | &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;11955460 |
| Loan Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51783346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51783346 |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10830421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10830421 |
| Non-Agency Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100585141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100585141 |
| Non-Agency Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81568733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81576490 |
| Non-Agency Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120120113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120120113 |
| Preferred Stock | &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;1446970 | &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;1446970 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97847631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97847631 |
| Supranational Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12086710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12086710 |
| US Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460596109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460596109 |

---

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;105

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

3. Investments (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Fixed Income Fund |
| | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 2 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$325942 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$325942 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55481320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451064853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506546173 |
| Total Value of Securities Before Options Written | &nbsp;&nbsp;&nbsp;&nbsp;$55481320 | &nbsp;&nbsp;&nbsp;&nbsp;$3502199297 | &nbsp;&nbsp;&nbsp;&nbsp;$1813598 | &nbsp;&nbsp;&nbsp;&nbsp;$3559494215 |
| Liabilities: |  |  |  |  |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp;$(45828) | &nbsp;&nbsp;&nbsp;&nbsp;$(324010) | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(369838) |
| Derivatives<sup>1</sup> |  |  |  |  |
| Assets: |  |  |  |  |
| Centrally Cleared Credit Default Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$178575 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$178575 |
| Centrally Cleared Interest Rate Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10516463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10516463 |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804574 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4937607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4937607 |
| Over-The-Counter Credit Default Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43874 |
| Liabilities: |  |  |  |  |
| Centrally Cleared Credit Default Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(132454) | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(132454) |
| Centrally Cleared Interest Rate Swap Contracts | &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;(8396823) | &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;(8396823) |
| Forward Foreign Currency Exchange Contracts | &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;(4810782) | &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;(4810782) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1388724) | &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;(1388724) |
| Over-The-Counter Credit Default Swap Contracts | &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;(31035) | &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;(31035) |

---

<br> <sup>1</sup>Forward foreign currency exchange contracts, futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument at the year end.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund |
| | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 2 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| Securities |  |  |  |  |
| Assets: |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;$25540985 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$25540985 |
| &nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009032 | &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;2009032 |
| &nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15885861 | &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;15885861 |
| &nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39991693 | &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;39991693 |
| &nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100868577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101765045 |
| &nbsp;&nbsp;&nbsp;Czech Republic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259622 | &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;259622 |

---

&nbsp;&nbsp;&nbsp;&nbsp;106

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum International Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 2 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| &nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;$27956274 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$27956274 |
| &nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687614 | &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;5687614 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47953769 | &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;47953769 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53493268 | &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;53493268 |
| &nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56065 | &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;56065 |
| &nbsp;&nbsp;&nbsp;Hungary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3961510 | &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;3961510 |
| &nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30775395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30980796 |
| &nbsp;&nbsp;&nbsp;Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051445 |
| &nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33107863 | &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;33107863 |
| &nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12016039 | &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;12016039 |
| &nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13368487 | &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;13368487 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81410670 | &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;81410670 |
| &nbsp;&nbsp;&nbsp;Kazakhstan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817806 | &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;3817806 |
| &nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419465 |
| &nbsp;&nbsp;&nbsp;Monaco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89554 | &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;89554 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38693759 | &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;38693759 |
| &nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713889 | &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;713889 |
| &nbsp;&nbsp;&nbsp;Panama | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406826 | &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;2406826 |
| &nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338536 | &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;338536 |
| &nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162422 | &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;162422 |
| &nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7055006 | &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;7055006 |
| &nbsp;&nbsp;&nbsp;Republic of Mauritius | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5885 | &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;5885 |
| &nbsp;&nbsp;&nbsp;Russia | &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;—<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14670489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16259575 |
| &nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5538996 | &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;5538996 |
| &nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21503700 | &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;21503700 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14337463 | &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;14337463 |
| &nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18518316 | &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;18518316 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47696105 | &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;47696105 |
| &nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57223143 | &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;57223143 |
| &nbsp;&nbsp;&nbsp;Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6874866 | &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;6874866 |
| &nbsp;&nbsp;&nbsp;Türkiye | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49978 | &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;49978 |
| &nbsp;&nbsp;&nbsp;Ukraine | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283681 | &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;283681 |
| &nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2483921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10785802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13269723 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23731643 | &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;23731643 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300950 | &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;15300950 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742109 | &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;1742109 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883212 | &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;883212 |
| Warrants | &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;—<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526347 | &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;1526347 |
| Total Value of Securities | &nbsp;&nbsp;&nbsp;&nbsp;$749516526 | &nbsp;&nbsp;&nbsp;&nbsp;$48299557 | &nbsp;&nbsp;&nbsp;&nbsp;$122910 | &nbsp;&nbsp;&nbsp;&nbsp;$797938993 |

---

---

| |
|:---|
| <sup>1</sup>The value represents valuations of Russian Common Stocks for which Management has determined include significant unobservable inputs as of March 31, 2025. |
| <sup>2</sup>The security that has been valued at zero on the "Schedules of investments" is considered to be a Level 3 investment in this table. |

---

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

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;107

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

3. Investments (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Large Cap Growth Fund |
| | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 2 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| Securities |  |  |  |  |
| Assets: |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;$268111337 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$268111337 |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263136437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263139356 |
| &nbsp;&nbsp;&nbsp;Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44958888 | &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;44958888 |
| &nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20263299 | &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;20263299 |
| &nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199554512 | &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;199554512 |
| &nbsp;&nbsp;&nbsp;Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167671861 | &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;167671861 |
| &nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61230553 | &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;61230553 |
| &nbsp;&nbsp;&nbsp;Information Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792871176 | &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;792871176 |
| &nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11963757 | &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;11963757 |
| &nbsp;&nbsp;&nbsp;Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10923338 | &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;10923338 |
| &nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423977 | &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;1423977 |
| Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4471017 | &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;4471017 |
| Rights | &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;16013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16013 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12264990 | &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;12264990 |
| Total Value of Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1858845142 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$18932 | &nbsp;&nbsp;&nbsp;&nbsp;$1858864074 |
| Derivatives<sup>1</sup> |  |  |  |  |
| Assets: |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$3905 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$3905 |

---

<br> <sup>1</sup>Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument at the year end.

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Large Cap Value Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 |
| Securities |  |
| Assets: |  |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;$1820142294 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21653264 |
| Total Value of Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1841795558 |

---

&nbsp;&nbsp;&nbsp;&nbsp;108

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | |
|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Small-Mid Cap Growth Fund |
| | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;&nbsp;&nbsp;Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;Total |
| Securities |  |  |  |
| Assets: |  |  |  |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;$633312355 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$633312355 |
| Warrant | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20906799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20906799 |
| Total Value of Securities | &nbsp;&nbsp;&nbsp;&nbsp;$654219154 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$654219154 |

---

<br> <sup>1</sup>The security that has been valued at zero on the "Schedules of investments" is considered to be Level 3 investment in this table.

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;Optimum Small-Mid Cap Value Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Level 1 |
| Securities |  |
| Assets: |  |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;$618336670 |
| Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6161494 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9601733 |
| Total Value of Securities | &nbsp;&nbsp;&nbsp;&nbsp;$634099897 |

---

As a result of utilizing international fair value pricing at March 31, 2025, a portion of Optimum International Fund's common stock investments were categorized as Level 2.

During the year ended March 31, 2025, there were no transfers into or out of Level 3 investments. Each Fund's policy is to recognize transfers into or out of Level 3 investments based on fair value at the beginning of the reporting year.

A reconciliation of Level 3 investments is presented when a Fund has a significant amount of Level 3 investments at the beginning or end of the year in relation to that Fund's net assets. Management has determined not to provide a reconciliation of Level 3 investments as the Level 3 investments were not considered significant to Optimum Fixed Income Fund, Optimum International Fund, Optimum Large Cap Growth Fund and Optimum Small-Mid Cap Growth Fund's net assets at the beginning or end of the year. Management has determined not to provide additional disclosure on Level 3 inputs since the Level 3 investments were not considered significant to Optimum Fixed Income Fund, Optimum International Fund, Optimum Large Cap Growth Fund and Optimum Small-Mid Cap Growth Fund's net assets at the end of the year. As of March 31, 2025, Optimum Large Cap Value Fund and Optimum Small-Mid Cap Value Fund had no Level 3 investments.

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;109

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

4. Dividend and Distribution Information

Income and long-term capital gain distributions are determined in accordance with federal income tax regulations, which may differ from US GAAP. Additionally, distributions from net gains on foreign currency transactions and net short-term gains on sales of investment securities are treated as ordinary income for federal income tax purposes. The tax character of dividends and distributions paid during the years ended March 31, 2025 and 2024 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;Ordinary<br> income | &nbsp;&nbsp;&nbsp;Long-term<br> capital<br> gains | &nbsp;&nbsp;&nbsp;Total |
| Year ended March 31, 2025: |  |  |  |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;$101905127 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$101905127 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12670867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12670867 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48357235 | &nbsp;&nbsp;&nbsp;&nbsp;125867236 | &nbsp;&nbsp;&nbsp;&nbsp;174224471 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22321999 | &nbsp;&nbsp;&nbsp;&nbsp;102726486 | &nbsp;&nbsp;&nbsp;&nbsp;125048485 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19395503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34951738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54347241 |
| Year ended March 31, 2024: |  |  |  |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87181637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87181637 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10602612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10602612 |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;186697214 | &nbsp;&nbsp;&nbsp;&nbsp;186697214 |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36322702 | &nbsp;&nbsp;&nbsp;&nbsp;209668271 | &nbsp;&nbsp;&nbsp;&nbsp;245990973 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8777248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8818661 |

---

Optimum Small-Mid Cap Growth Fund had no dividends and distributions paid during the years ended March 31, 2025 and 2024.

5. Components of Net Assets on a Tax Basis

As of March 31, 2025, the components of net assets on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum Fixed<br> Income Fund | &nbsp;&nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;&nbsp;Optimum Large<br> Cap Growth<br> Fund |
| Shares of beneficial interest | $3110528465 | &nbsp;&nbsp;&nbsp;$849864869 | &nbsp;&nbsp;&nbsp;$1113133983 |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;25755323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2213232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31233656 |
| Undistributed long-term capital gains | &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;92304378 |
| Capital loss carryforwards | &nbsp;&nbsp;&nbsp;(307916702) | &nbsp;&nbsp;&nbsp;&nbsp;(115669535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation (depreciation) of investments, foreign currencies, and derivatives | &nbsp;&nbsp;&nbsp;(125081436) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66822625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623217057 |
| Net assets | $2703285650 | &nbsp;&nbsp;&nbsp;$803231191 | &nbsp;&nbsp;&nbsp;$1859889074 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| Shares of beneficial interest | $1269142707 | &nbsp;&nbsp;&nbsp;$663948298 | &nbsp;&nbsp;&nbsp;$592008111 |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5619765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18856201 |
| Undistributed long-term capital gains | &nbsp;&nbsp;&nbsp;&nbsp;49219816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19337101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480682 |
| Qualified late year loss deferrals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5023909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation (depreciation) of investments, foreign currencies, and derivatives | &nbsp;&nbsp;&nbsp;&nbsp;516906027 | &nbsp;&nbsp;&nbsp;&nbsp;(29390040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20964088 |
| Net assets | $1840888315 | &nbsp;&nbsp;&nbsp;$648871450 | &nbsp;&nbsp;&nbsp;$635309082 |

---

&nbsp;&nbsp;&nbsp;&nbsp;110

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Differences between components of net assets unrealized and tax cost unrealized may arise due to unrealized appreciation/depreciation on foreign currency.

The differences between book basis and tax basis components of net assets are primarily attributable to tax deferral of losses on wash sales, tax deferral of losses on straddles, mark-to-market of forward foreign currency exchange contracts, mark-to-market of futures contracts, tax treatment of passive foreign investment companies (PFICs) and securities no longer considered PFICs, tax treatment of swap contracts, and paydown gains (losses) of asset- and mortgage-backed securities.

Qualified late year ordinary and capital losses (including currency and specified gain/loss items) represent losses realized from January 1, 2025 through March 31, 2025 and November 1, 2024 through March 31, 2025, respectively, that, in accordance with federal income tax regulations, the Funds have elected to defer and treat as having arisen in the following fiscal year.

For financial reporting purposes, capital accounts are adjusted to reflect the tax character of permanent book/tax differences. Reclassifications are primarily due to tax treatment of net operating losses, and earnings and profits distributed to shareholders on the redemption of shares, paydown gain (losses) of asset- and mortgage-backed securities, payment by advisor tax treatment, swap contracts, gain (loss) on foreign currency transactions, passive foreign investment companies (PFICs) and securities no longer deemed to be PFICs, foreign capital gains taxes and nondeductible taxes paid. Results of operations and net assets were not affected by these reclassifications. For the year ended March 31, 2025, the Funds recorded the following reclassifications:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum Fixed<br> Income Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum Large<br> Cap Growth<br> Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| Paid-in capital | &nbsp;&nbsp;$(11258) | &nbsp;&nbsp;$(25766) | &nbsp;&nbsp;$8862140 | &nbsp;&nbsp;$(2194823) | &nbsp;&nbsp;$1932532 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;11258 | &nbsp;&nbsp;&nbsp;&nbsp;25766 | &nbsp;&nbsp;&nbsp;&nbsp;(8862140) | &nbsp;&nbsp;&nbsp;&nbsp;2194823 | &nbsp;&nbsp;&nbsp;&nbsp;(1932532) |

---

Optimum Large Cap Value Fund did not have any reclassifications for the year ended March 31, 2025.

For federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains. At March 31, 2025, the Funds utilized the following capital loss carryforwards:

---

| | |
|:---|:---|
| Optimum International Fund | $36123421 |
| Optimum Small-Mid Cap Growth Fund | &nbsp;&nbsp;62279939 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;11202408 |

---

At March 31, 2025, capital loss carryforwards available to offset future realized capital gains are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Loss carryforward character | &nbsp;&nbsp;Loss carryforward character |  |
|  | &nbsp;&nbsp;Short-term | &nbsp;&nbsp;&nbsp;Long-term | &nbsp;&nbsp;&nbsp;Total |
| Optimum Fixed Income Fund | &nbsp;&nbsp;$126777664 | &nbsp;&nbsp;&nbsp;$181139038 | &nbsp;&nbsp;&nbsp;$307916702 |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;&nbsp;38829178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76840357 | &nbsp;&nbsp;&nbsp;&nbsp;115669535 |

---

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;111

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

6. Capital Shares

Transactions in capital shares were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum<br> International<br> Fund | Optimum<br> International<br> Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund |
|  | Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
|  | 3/31/25 | 3/31/24 | 3/31/25 | 3/31/24 | 3/31/25 | 3/31/24 |
| Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382830 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;44304592 | &nbsp;&nbsp;&nbsp;90165530 | &nbsp;&nbsp;&nbsp;7656381 | &nbsp;&nbsp;29467065 | &nbsp;&nbsp;&nbsp;9909929 | &nbsp;&nbsp;12191844 |
| Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;12309639 | &nbsp;&nbsp;&nbsp;10684294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929408 | &nbsp;&nbsp;&nbsp;6633516 | &nbsp;&nbsp;&nbsp;9380699 |
|  | &nbsp;&nbsp;57285205 | 101773644 | &nbsp;&nbsp;&nbsp;8646142 | &nbsp;&nbsp;30543656 | &nbsp;&nbsp;16833590 | &nbsp;&nbsp;22397980 |
| Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;(2650707) | &nbsp;&nbsp;&nbsp;(1393967) | &nbsp;&nbsp;&nbsp;&nbsp;(439639) | &nbsp;&nbsp;&nbsp;&nbsp;(207384) | &nbsp;&nbsp;&nbsp;(1183086) | &nbsp;&nbsp;&nbsp;&nbsp;(640627) |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21141) | &nbsp;&nbsp;&nbsp;&nbsp;(567385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2780) | &nbsp;&nbsp;&nbsp;&nbsp;(125216) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18619) | &nbsp;&nbsp;&nbsp;&nbsp;(526879) |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | (57647303) | &nbsp;&nbsp;(65046970) | (11540352) | (20215564) | (17297983) | (32424925) |
|  | (60319151) | &nbsp;&nbsp;(67008322) | (11982771) | (20548164) | (18499688) | (33592431) |
| Net increase (decrease) | &nbsp;&nbsp;&nbsp;(3033946) | &nbsp;&nbsp;&nbsp;34765322 | &nbsp;&nbsp;(3336629) | &nbsp;&nbsp;&nbsp;9995492 | &nbsp;&nbsp;&nbsp;(1666098) | (11194451) |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;112

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Optimum<br> Large Cap<br> Value Fund | Optimum<br> Large Cap<br> Value Fund | Optimum<br> Small-Mid Cap<br> Growth Fund | Optimum<br> Small-Mid Cap<br> Growth Fund | Optimum<br> Small-Mid Cap<br> Value Fund | Optimum<br> Small-Mid Cap<br> Value Fund |
|  | Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
|  | 3/31/25 | 3/31/24 | 3/31/25 | 3/31/24 | 3/31/25 | 3/31/24 |
| Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: | Shares sold: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12149 | &nbsp;&nbsp;&nbsp;&nbsp;109118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;12908160 | &nbsp;&nbsp;12973143 | &nbsp;&nbsp;7845309 | 20867348 | &nbsp;&nbsp;&nbsp;6529315 | &nbsp;&nbsp;10614473 |
| Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: | Shares issued upon reinvestment of dividends and distributions: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484870 | &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;38559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4280 | &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;547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;6372583 | &nbsp;&nbsp;14288515 | &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;3546856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665143 |
|  | &nbsp;&nbsp;19481563 | &nbsp;&nbsp;28092731 | &nbsp;&nbsp;7857753 | 20977033 | 10122499 | &nbsp;&nbsp;11360301 |
| Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: | Shares redeemed: |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;(1057860) | &nbsp;&nbsp;&nbsp;&nbsp;(536131) | &nbsp;&nbsp;&nbsp;(270470) | &nbsp;&nbsp;&nbsp;&nbsp;(141526) | &nbsp;&nbsp;&nbsp;&nbsp;(188893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97861) |
| &nbsp;&nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17083) | &nbsp;&nbsp;&nbsp;&nbsp;(322317) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5135) | &nbsp;&nbsp;&nbsp;&nbsp;(175484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86982) |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | (18042031) | (40469479) | (9658883) | &nbsp;&nbsp;(9490347) | &nbsp;&nbsp;(8193340) | (13125959) |
|  | (19116974) | (41327927) | (9934488) | &nbsp;&nbsp;(9807357) | &nbsp;&nbsp;(8384527) | (13310802) |
| Net increase (decrease) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364589 | (13235196) | (2076735) | 11169676 | &nbsp;&nbsp;&nbsp;1737972 | &nbsp;&nbsp;&nbsp;(1950501) |

---

Certain shareholders may exchange shares of one class for shares of another class in the same Fund. These exchange transactions are included in shares sold and shares redeemed in the tables above and on the previous page and on the "Statements of changes in net assets." For the years ended March 31, 2025 and 2024, each Fund had the following exchange transactions:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;Exchange Redemptions | &nbsp;&nbsp;&nbsp;Exchange Redemptions | &nbsp;&nbsp;&nbsp;Exchange Subscriptions | &nbsp;&nbsp;&nbsp;Exchange Subscriptions |  |
| | &nbsp;&nbsp;&nbsp;Class A<br> Shares | &nbsp;&nbsp;&nbsp;Class C<br> Shares | &nbsp;&nbsp;&nbsp;Class A<br> Shares | &nbsp;&nbsp;&nbsp;Institutional<br> Class<br> Shares | &nbsp;&nbsp;&nbsp;Value |
| Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;1698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;1698 | &nbsp;&nbsp;&nbsp;$14169 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;202493 | &nbsp;&nbsp;&nbsp;206528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1660493 |
| Optimum International Fund | Optimum International Fund | Optimum International Fund | Optimum International Fund | Optimum International Fund | Optimum International Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6213 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;59935 | &nbsp;&nbsp;&nbsp;&nbsp;59077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659944 |
| Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25443 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;219733 | &nbsp;&nbsp;&nbsp;158217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3001314 |

---

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;113

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

6. Capital Shares (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;Exchange Redemptions | &nbsp;&nbsp;&nbsp;Exchange Redemptions | &nbsp;&nbsp;&nbsp;Exchange Subscriptions | &nbsp;&nbsp;&nbsp;Exchange Subscriptions |  |
| | &nbsp;&nbsp;&nbsp;Class A<br> Shares | &nbsp;&nbsp;&nbsp;Class C<br> Shares | &nbsp;&nbsp;&nbsp;Class A<br> Shares | &nbsp;&nbsp;&nbsp;Institutional<br> Class<br> Shares | &nbsp;&nbsp;&nbsp;Value |
| Optimum Large Cap Value Fund | Optimum Large Cap Value Fund | Optimum Large Cap Value Fund | Optimum Large Cap Value Fund | Optimum Large Cap Value Fund | Optimum Large Cap Value Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;1594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;$33894 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;143243 | &nbsp;&nbsp;&nbsp;140782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2701305 |
| Optimum Small-Mid Cap Growth Fund | Optimum Small-Mid Cap Growth Fund | Optimum Small-Mid Cap Growth Fund | Optimum Small-Mid Cap Growth Fund | Optimum Small-Mid Cap Growth Fund | Optimum Small-Mid Cap Growth Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7762 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;81181 | &nbsp;&nbsp;&nbsp;&nbsp;48212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457111 |
| Optimum Small-Mid Cap Value Fund | Optimum Small-Mid Cap Value Fund | Optimum Small-Mid Cap Value Fund | Optimum Small-Mid Cap Value Fund | Optimum Small-Mid Cap Value Fund | Optimum Small-Mid Cap Value Fund |
| Year ended | Year ended | Year ended | Year ended | Year ended | Year ended |
| 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5504 |
| 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;32475 | &nbsp;&nbsp;&nbsp;&nbsp;26987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325761 |

---

7. Derivatives

US GAAP requires disclosures that enable investors to understand: (1) how and why an entity uses derivatives; (2) how they are accounted for; and (3) how they affect an entity's results of operations and financial position.

**Forward Foreign Currency Exchange Contracts — Each Fund may enter into forward foreign currency exchange contracts and forward foreign cross currency exchange contracts as a way of managing foreign exchange rate risk. Each Fund may enter into these contracts to fix the US dollar value of a security that it has agreed to buy or sell for the period between the date the trade was entered into and the date the security is delivered and paid for. Each Fund may also enter into these contracts to hedge the US dollar value of securities it already owns that are denominated in foreign currencies. In addition, each Fund may enter into these contracts to facilitate or expedite the settlement of portfolio transactions. The change in value is recorded as an unrealized gain or loss. When the contract is closed, a realized gain or loss is recorded equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.**

The use of forward foreign currency exchange contracts and forward foreign cross currency exchange contracts does not eliminate fluctuations in the underlying prices of the securities, but does establish a rate of exchange that can be achieved in the future. Although forward foreign currency exchange contracts and forward foreign cross currency exchange contracts limit the risk of loss due to an unfavorable change in the value of the hedged currency, they also limit any potential gain that might result should the value of the currency change favorably. In addition, each Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts. Each Fund's maximum risk of loss from counterparty credit risk is the value of its currency exchanged with the counterparty. The risk is generally mitigated by having a netting arrangement between the Funds and the counterparty and by the posting of collateral by the counterparty to the Funds to cover the Funds' exposure to the counterparty. Open forward foreign currency exchange contracts, if any, are disclosed on the "Schedules of investments."

During the year ended March 31, 2025, Optimum Fixed Income Fund and Optimum Large Cap Growth Fund each used forward foreign currency exchange contracts to hedge the US dollar value of securities they already owns that are denominated in foreign currencies to decrease exposure to foreign currencies. Optimum Large Cap Growth Fund used forward foreign currency exchange contracts to facilitate or expedite the settlement of portfolio transactions.

During the year ended March 31, 2025, Optimum Large Cap Growth Fund experienced net realized and unrealized gains or losses attributable to forward foreign currency exchange contracts, which are disclosed on the "Statements of assets and liabilities" and/or "Statements of operations."

&nbsp;&nbsp;&nbsp;&nbsp;114

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

**Futures Contracts — A futures contract is an agreement in which the writer (or seller) of the contract agrees to deliver to the buyer an amount of cash or securities equal to a specific dollar amount times the difference between the value of a specific security or index at the close of the last trading day of the contract and the price at which the agreement is made. Optimum Fixed Income Fund may use futures contracts in the normal course of pursuing its investment objective. Optimum Fixed Income Fund may invest in futures contracts to hedge its existing portfolio securities against fluctuations in value caused by changes in interest rates or market conditions. Upon entering into a futures contract, the Fund deposits cash or pledges US government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from the broker or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Fund as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks of entering into futures contracts include potential imperfect correlation between the futures contracts and the underlying securities and the possibility of an illiquid secondary market for these instruments. When investing in futures, there is reduced counterparty credit risk to the Fund because futures are exchange-traded and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees against default. The Fund posted securities collateral valued at $4,743,742 and $8,265,233 in cash as collateral for open futures contracts. Cash collateral is included as "Cash collateral due from brokers" on the "Statements of assets and liabilities" and securities collateral are presented on the "Schedules of investments." Open futures contracts, if any, are disclosed on the "Schedules of investments."**

During the year ended March 31, 2025, Optimum Fixed Income Fund used futures contracts to hedge the Fund's existing portfolio securities against fluctuations in value caused by changes in interest rates or market conditions, as a cash management tool, and to facilitate investments in portfolio securities.

**Options Contracts — Optimum Fixed Income Fund may enter into options contracts in the normal course of pursuing its investment objective. The Fund may buy or write options contracts for any number of reasons, including without limitation: to manage the Fund's exposure to changes in securities prices caused by interest rates or market conditions and foreign currencies; as an efficient means of adjusting the Fund's overall exposure to certain markets; to protect the value of portfolio securities; and as a cash management tool. The Fund may buy or write call or put options on securities, futures, swaps, swaptions, financial indices, and foreign currencies. When the Fund buys an option, a premium is paid and an asset is recorded and adjusted on a daily basis to reflect the current market value of the option purchased. When the Fund writes an option, a premium is received and a liability is recorded and adjusted on a daily basis to reflect the current market value of the option written. Premiums received from writing options that expire unexercised are treated by the Fund on the expiration date as realized gains. The difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as realized gain or loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Fund has a realized gain or loss. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Fund. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. When writing options, the Fund is subject to minimal counterparty risk because the counterparty is only obligated to pay premiums and does not bear the market risk of an unfavorable market change. The Fund posted $84,000 cash collateral for options contracts, which is included in "Cash collateral due from brokers" on the "Statements of assets and liabilities." Open options contracts, if any, are disclosed on the "Schedules of investments."**

During the year ended March 31, 2025, Optimum Fixed Income Fund used options contracts to manage the Fund's exposure to changes in securities prices caused by interest rates or market conditions, to manage the Fund's exposure to changes in foreign currencies, to adjust the Fund's overall exposure to certain markets, and to receive premiums for writing options.

**Swap Contracts — Optimum Fixed Income Fund may enter into currency swap contracts, index swap contracts, inflation swaps, IRS contracts, and CDS contracts in the normal course of pursuing its investment objective. The Fund may invest in IRS contracts to manage the Fund's sensitivity to interest rates or to hedge against changes in interest rates. The Fund may use currency swaps to protect against currency fluctuations. The Fund may use inflation swaps to hedge the inflation risk in nominal bonds, thereby creating synthetic inflation-indexed bonds. The Fund may enter into CDS contracts in order to hedge against a credit event, to enhance total return, or to gain exposure to certain securities or markets. Swap contracts are bilaterally negotiated agreements between a Fund and counterparty to exchange or swap investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap agreements are privately negotiated in the over-the-counter market (OTC swaps). If the OTC swap entered is one of the swaps identified by a relevant regulator as a swap that is required to be cleared, then it will be cleared through a third party, known as a central counterparty or derivatives clearing organization (centrally cleared swaps).**

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;115

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

7. Derivatives (continued)

*Interest Rate Swaps. An IRS contract is an exchange of interest rates between counterparties. In one instance, an IRS involves payments received by Optimum Fixed Income Fund from another party based on a variable or floating interest rate, in return for making payments based on a fixed interest rate. An IRS can also work in reverse with the Fund receiving payments based on a fixed interest rate and making payments based on a variable or floating interest rate. IRS may be used to adjust the Fund's sensitivity to interest rates or to hedge against changes in interest rates. Periodic payments on such contracts are accrued daily and recorded as unrealized appreciation (depreciation) on swap contracts. Upon periodic payment (receipt) or termination of the contract, such amounts are recorded as realized gains or losses on swap contracts. The Fund's maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparty over the IRS contract's remaining life, to the extent that the amount is positive. This risk is mitigated by (1) for bilateral swap contracts, having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty and (2) for cleared swaps, trading these instruments through a central counterparty.*

During the year ended March 31, 2025, Optimum Fixed Income Fund used interest rate swap contracts to manage the Fund's sensitivity to interest rates or to hedge against changes in interest rates.

*Credit Default Swaps. A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular reference security or basket of securities (such as an index). In exchange for the protection offered by the seller of protection, the purchaser of protection agrees to pay the seller of protection a periodic amount at a stated rate that is applied to the notional amount of the CDS contract. In addition, an upfront payment may be made or received by the Fund in connection with an unwinding or assignment of a CDS contract. Upon the occurrence of a credit event, the seller of protection would pay the par (or other agreed-upon) value of the reference security (or basket of securities) to the counterparty. Credit events generally include, among others, bankruptcy, failure to pay, and obligation default.*

During the year ended March 31, 2025, Optimum Fixed Income Fund entered into CDS contracts as a purchaser and seller of protection, as a hedge against credit events. Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded daily as unrealized appreciation or depreciation. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the agreement. Initial margin and variation margin are posted to central counterparties for centrally cleared CDS basket trades, as determined by the applicable central counterparty.

As disclosed in the footnotes to the "Schedules of investments," at March 31, 2025, the notional amount of the protection sold was EUR 3,900,000 and $34,389,024, which reflects the maximum potential amount Optimum Fixed Income Fund would have been required to make as a seller of credit protection if a credit event had occurred. In addition to serving as the source of the current value of the securities, the quoted market prices and resulting market values for credit default swap agreements on securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative if the swap agreement has been closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the reference entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. At March 31, 2025, there were no recourse provisions with third parties to recover any amounts paid under the credit derivative agreement (including any purchased credit protection) nor was any collateral held by the Fund and other third parties which the Fund can obtain in the occurrence of a credit event. At March 31, 2025, net unrealized appreciation of the protection sold was $83,498.

CDS contracts may involve greater risks than if Optimum Fixed Income Fund had invested in the reference obligation directly. CDS contracts are subject to general market risk, liquidity risk, counterparty risk, and credit risk. The Fund's maximum risk of loss from counterparty credit risk, either as the seller of protection or the buyer of protection, is the fair value of the contract. This risk is mitigated by (1) for bilateral swap contracts, having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty, and (2) for cleared swaps, trading these instruments through a central counterparty. Open swap contracts, if any, are disclosed on the "Schedules of investments."

During the year ended March 31, 2025, Optimum Fixed Income Fund used CDS contracts to hedge against credit events and to gain exposure to certain securities or markets.

&nbsp;&nbsp;&nbsp;&nbsp;116

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

At March 31, 2025, for centrally cleared derivative contracts, Optimum Fixed Income Fund posted $4,941,556 in cash as collateral for certain open centrally cleared derivatives, which is included in "Cash collateral due from brokers" on the "Statements of assets and liabilities." The Fund also posted $11,395,762 in securities collateral comprised of US treasury obligations for certain open centrally cleared derivative contracts. At March 31, 2025, for bilateral derivative contracts, the Fund received $260,000 and posted $210,000 in cash as collateral, which is included in "Cash collateral due to brokers" and "Cash collateral due from brokers" on the "Statements of assets and liabilities," respectively. The Fund also posted $3,430,095 in securities collateral comprised of US treasury obligations for certain open bilateral derivative contracts. Securities collateral are presented on the "Schedules of investments."

Fair values of derivative instruments as of March 31, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund |
|  | &nbsp;&nbsp;Asset Derivatives Fair Value | &nbsp;&nbsp;Asset Derivatives Fair Value | &nbsp;&nbsp;Asset Derivatives Fair Value | &nbsp;&nbsp;Asset Derivatives Fair Value |
| Statements of asset and<br> liabilities location | &nbsp;&nbsp;Currency<br> Contracts | &nbsp;&nbsp;Interest<br> Rate<br> Contracts | &nbsp;&nbsp;Credit<br> Contracts | &nbsp;&nbsp;Total |
| Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;$1804574 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1804574 |
| Variation margin due from brokers on futures contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4937607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4937607 |
| Variation margin due to/from brokers on centrally cleared credit default swap contracts\* | &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;178575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178575 |
| Variation margin due to/from brokers on centrally cleared interest rate swap contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10516463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10516463 |
| Unrealized appreciation on over-the-counter credit default swap contracts | &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;43874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43874 |
| Options purchased, at value\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325942 |
| Total | &nbsp;&nbsp;$1804574 | &nbsp;&nbsp;$15780012 | &nbsp;&nbsp;$222449&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;$17807035 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund |
|  | &nbsp;&nbsp;Liability Derivatives Fair Value | &nbsp;&nbsp;Liability Derivatives Fair Value | &nbsp;&nbsp;Liability Derivatives Fair Value | &nbsp;&nbsp;Liability Derivatives Fair Value |
| Statements of asset and<br> liabilities location | &nbsp;&nbsp;Currency<br> Contracts | &nbsp;&nbsp;Interest<br> Rate<br> Contracts | &nbsp;&nbsp;Credit<br> Contracts | &nbsp;&nbsp;Total |
| Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;$(4810782) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(4810782) |
| Variation margin due from brokers on futures contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1388724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1388724) |
| Variation margin due to/from brokers on centrally cleared credit default swap contracts\* | &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;(132454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132454) |
| Variation margin due to/from brokers on centrally cleared interest rate swap contracts\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8396823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(8396823) |
| Unrealized depreciation on over-the-counter credit default swap contracts | &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;(31035) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31035) |
| Options written, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(369838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(369838) |
| Total | &nbsp;&nbsp;$(4810782) | &nbsp;&nbsp;$(10155385) | &nbsp;&nbsp;$(163489)&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;$(15129656) |

---

\*Includes cumulative appreciation (depreciation) of futures contracts, centrally cleared CDS contracts, and centrally cleared IRS contracts from the date the contracts were opened through March 31, 2025. Only current day variation margin is reported on Optimum Fixed Income Fund's "Statements of assets and liabilities."

\*\* Included with "Investments, at value."

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;117

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

7. Derivatives (continued)

The effect of derivative instruments on Optimum Fixed Income Fund's "Statements of operations" for the year ended March 31, 2025 was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Net Realized Gain (Loss) on: | &nbsp;&nbsp;Net Realized Gain (Loss) on: | &nbsp;&nbsp;Net Realized Gain (Loss) on: | &nbsp;&nbsp;Net Realized Gain (Loss) on: | &nbsp;&nbsp;Net Realized Gain (Loss) on: | &nbsp;&nbsp;Net Realized Gain (Loss) on: |
|  | &nbsp;&nbsp;Forward<br> Foreign<br> Currency<br> Exchange<br> Contracts | &nbsp;&nbsp;Futures<br> Contracts | &nbsp;&nbsp;Options<br> Purchased | &nbsp;&nbsp;Options<br> Written | &nbsp;&nbsp;Swap<br> Contracts | &nbsp;&nbsp;Total |
| Currency contracts | &nbsp;&nbsp;$6465913 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$518674 | &nbsp;&nbsp;$1266477 | &nbsp;&nbsp;$(6765121) | &nbsp;&nbsp;$1485943 |
| Interest rate contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(8414631) | &nbsp;&nbsp;&nbsp;&nbsp;15996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513979 | &nbsp;&nbsp;&nbsp;&nbsp;(7619624) |
| Equity contracts | &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;&nbsp;&nbsp;&nbsp;&nbsp;791154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791154 |
| Credit contracts | &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;&nbsp;&nbsp;&nbsp;(319402) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319402) |
| Total | &nbsp;&nbsp;$6465913 | &nbsp;&nbsp;$(8414631) | &nbsp;&nbsp;$534670 | &nbsp;&nbsp;$1531509 | &nbsp;&nbsp;$(5779390) | &nbsp;&nbsp;$(5661929) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: | &nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on: |
|  | &nbsp;&nbsp;Forward<br> Foreign<br> Currency<br> Exchange<br> Contracts | &nbsp;&nbsp;Futures<br> Contracts | &nbsp;&nbsp;Options<br> Purchased | &nbsp;&nbsp;Options<br> Written | &nbsp;&nbsp;Swap<br> Contracts | &nbsp;&nbsp;Total |
| Currency contracts | &nbsp;&nbsp;$(3887854) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$598912 | &nbsp;&nbsp;$(3288942) |
| Interest rate contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2648639 | &nbsp;&nbsp;&nbsp;&nbsp;(123226) | &nbsp;&nbsp;&nbsp;&nbsp;123492 | &nbsp;&nbsp;&nbsp;&nbsp;3186464 | &nbsp;&nbsp;&nbsp;&nbsp;5835369 |
| Credit contracts | &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;&nbsp;(549957) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(549957) |
| Total | &nbsp;&nbsp;$(3887854) | &nbsp;&nbsp;$2648639 | &nbsp;&nbsp;$(123226) | &nbsp;&nbsp;$123492 | &nbsp;&nbsp;$3235419 | &nbsp;&nbsp;$1996470 |

---

The tables below summarize the average daily balance of derivative holdings by certain Funds during the year ended March 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Long Derivative Volume | &nbsp;&nbsp;Long Derivative Volume | &nbsp;&nbsp;Long Derivative Volume | &nbsp;&nbsp;Long Derivative Volume |
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund |
| Forward foreign currency exchange contracts (average contract amount) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51749717 | &nbsp;&nbsp;USD | &nbsp;&nbsp;45017 |
| Futures contracts (average notional amount) |  | &nbsp;&nbsp;&nbsp;&nbsp;640437591 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Options contracts (average value)\* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301038 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CDS contracts (average notional amount)\*\* | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9602535 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9797638 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;152335758 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45133071 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56809626 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28022047 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;9097795276 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest rate swap contracts (average notional amount) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;495906575 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;118

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Short Derivative Volume | &nbsp;&nbsp;Short Derivative Volume | &nbsp;&nbsp;Short Derivative Volume | &nbsp;&nbsp;Short Derivative Volume |
|  | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> Fixed Income<br> Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Growth Fund |
| Forward foreign currency exchange contracts (average contract amount) | &nbsp;&nbsp;USD | &nbsp;&nbsp;156221137 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2335616 |
| Futures contracts (average notional amount) |  | &nbsp;&nbsp;193396835 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Options contracts (average value)\* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301521 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CDS contracts (average notional value)\*\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;7741339 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CDS contracts (average notional amount)\*\* | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;20176926 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

\*Long represents purchased options and short represents written options.

\*\*Long represents buying protection and short represents selling protection.

8. Offsetting

Certain Funds entered into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or a similar agreement with certain of its derivative contract counterparties in order to better define its contractual rights and to secure rights that will help certain Funds mitigate its counterparty risk. An ISDA Master Agreement is a bilateral agreement between certain Funds and a counterparty that governs certain over-the-counter derivatives and forward foreign exchange contracts and typically contains, among other things, collateral posting items and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, certain Funds may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out), including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency, or other events.

For financial reporting purposes, certain Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements on the "Statements of assets and liabilities."

At March 31, 2025, certain Funds had the following assets and liabilities subject to offsetting provisions:

#### Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund | Optimum Fixed Income Fund |
| Counterparty | &nbsp;&nbsp;Gross Value of<br> Derivative Asset | &nbsp;&nbsp;Gross Value of<br> Derivative Liability | &nbsp;&nbsp;Net Position |
| Bank of America Merrill Lynch | &nbsp;&nbsp;$18459 | &nbsp;&nbsp;$(16808) | &nbsp;&nbsp;$1651 |
| BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56143 | &nbsp;&nbsp;&nbsp;&nbsp;(3220832) | &nbsp;&nbsp;&nbsp;&nbsp;(3164689) |
| Citigroup | &nbsp;&nbsp;&nbsp;&nbsp;1058206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(493114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565092 |
| Deutsche Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325823 |
| Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14186 |
| JPMorgan Chase Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(786890) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(427272) |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5816 |
| TD Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224257) |
| Total | &nbsp;&nbsp;$2073530 | &nbsp;&nbsp;$(4977180) | &nbsp;&nbsp;$(2903650) |

---

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

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;119

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Notes to financial statements
Optimum Fund Trust

8. Offsetting (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | &nbsp;&nbsp;Net Position | &nbsp;&nbsp;Fair Value of<br> Non-Cash<br> Collateral Received | &nbsp;&nbsp;Cash Collateral<br> Received | &nbsp;&nbsp;Fair Value of<br> Non-Cash<br> Collateral Pledged | &nbsp;&nbsp;Cash Collateral<br> Pledged | &nbsp;&nbsp;Net Exposure<sup>(a)</sup> |
| Bank of America Merrill Lynch | &nbsp;&nbsp;$1651 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1651 |
| BNP Paribas | &nbsp;&nbsp;&nbsp;(3164689) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3090704 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(73985) |
| Citigroup | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565092 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(260000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;305092 |
| Deutsche Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325823 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;325823 |
| Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14186 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14186 |
| JPMorgan Chase Bank | &nbsp;&nbsp;&nbsp;&nbsp;(427272) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;217052 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(210220) |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5816 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5816 |
| TD Bank | &nbsp;&nbsp;&nbsp;&nbsp;(224257) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(224257) |
| Total | &nbsp;&nbsp;$(2903650) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(260000) | &nbsp;&nbsp;$3307756 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$144106 |

---

---

| | | | |
|:---|:---|:---|:---|
| Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund | Optimum Large Cap Growth Fund |
| Counterparty | &nbsp;&nbsp;Gross Value of<br> Derivative Asset | &nbsp;&nbsp;Gross Value of<br> Derivative Liability | &nbsp;&nbsp;Net Position |
| Morgan Stanley | &nbsp;&nbsp;$3905 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3905 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | &nbsp;&nbsp;Net Position | &nbsp;&nbsp;Fair Value of<br> Non-Cash<br> Collateral Received | &nbsp;&nbsp;Cash Collateral<br> Received | &nbsp;&nbsp;Fair Value of<br> Non-Cash<br> Collateral Pledged | &nbsp;&nbsp;Cash Collateral<br> Pledged | &nbsp;&nbsp;Net Exposure<sup>(a)</sup> |
| Morgan Stanley | &nbsp;&nbsp;$3905 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3905 |

---

#### Master Repurchase Agreements
Repurchase agreements are entered into by each Fund under master repurchase agreements (each, an MRA). The MRA permits each Fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables with collateral held by and/or posted to the counterparty. As a result, one single net payment is created. Bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterparty's bankruptcy or insolvency. Based on the terms of the MRA, each Fund receives securities as collateral with a market value in excess of the repurchase price at maturity. Upon a bankruptcy or insolvency of the MRA counterparty, each Fund would recognize a liability with respect to such excess collateral. The liability reflects each Fund's obligation under bankruptcy law to return the excess to the counterparty. As of March 31, 2025, the following table is a summary of each Fund's repurchase agreements by counterparty which are subject to offset under an MRA:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum Fixed Income Fund |
| Counterparty | &nbsp;&nbsp;Repurchase<br> Agreements | &nbsp;&nbsp;Fair Value of<br> Non-Cash<br> Collateral<br> Received | &nbsp;&nbsp;Cash<br> Collateral<br> Received | &nbsp;&nbsp;Net Collateral<br> Received | &nbsp;&nbsp;Net<br> Exposure<sup>(a)</sup> |
| BNP Paribas | &nbsp;&nbsp;$150000000 | &nbsp;&nbsp;$(150000000) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(150000000) | &nbsp;&nbsp;$— |
| JPMorgan Securities | &nbsp;&nbsp;&nbsp;&nbsp;301064853 | &nbsp;&nbsp;&nbsp;&nbsp;(301064853) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(301064853) | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp;$451064853 | &nbsp;&nbsp;$(451064853) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(451064853) | &nbsp;&nbsp;$— |

---

<sup>(a)</sup> Net exposure represents the receivable (payable) that would be due from (to) the counterparty in the event of default.

9. Securities Lending

Each Fund may lend its securities pursuant to a security lending agreement (Lending Agreement) with The Bank of New York Mellon (BNY). At the time a security is loaned, the borrower must post collateral equal to the required percentage of the market value of the loaned security, including any accrued interest. The required percentage is: (1) 102% with respect to US securities and foreign securities that are denominated and payable in US dollars; and (2) 105% with respect to foreign securities. With respect to each loan, if on any business day the aggregate

&nbsp;&nbsp;&nbsp;&nbsp;120

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

market value of securities collateral plus cash collateral held is less than the aggregate market value of the securities which are the subject of such loan, the borrower will be notified to provide additional collateral by the end of the following business day, which, together with the collateral already held, will be not less than the applicable initial collateral requirements for such security loan. If the aggregate market value of securities collateral and cash collateral held with respect to a security loan exceeds the applicable initial collateral requirement, upon the request of the borrower, BNY must return enough collateral to the borrower by the end of the following business day to reduce the value of the remaining collateral to the applicable initial collateral requirement for such security loan. As a result of the foregoing, the value of the collateral held with respect to a loaned security on any particular day, may be more or less than the value of the security on loan. The collateral percentage with respect to the market value of the loaned security is determined by the security lending agent.

Cash collateral received by each Fund of the Trust is generally invested in a series of individual separate accounts, each corresponding to a fund. The investment guidelines permit each separate account to hold certain securities that would be considered eligible securities for a money market fund. Cash collateral received is generally invested in government securities; certain obligations issued by government sponsored enterprises; repurchase agreements collateralized by US Treasury securities; obligations issued by the central government of any Organization for Economic Cooperation and Development (OECD) country or its agencies, instrumentalities, or establishments; obligations of supranational organizations; commercial paper, notes, bonds, and other debt obligations; certificates of deposit, time deposits, and other bank obligations; certain money market funds; and asset-backed securities. Each Fund can also accept US government securities and letters of credit (non-cash collateral) in connection with securities loans.

In the event of default or bankruptcy by the lending agent, realization and/or retention of the collateral may be subject to legal proceedings. In the event the borrower fails to return loaned securities and the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to each Fund or, at the discretion of the lending agent, replace the loaned securities. Each Fund continues to record dividends or interest, as applicable, on the securities loaned and is subject to changes in value of the securities loaned that may occur during the term of the loan. Each Fund has the right under the Lending Agreement to recover the securities from the borrower on demand. With respect to security loans collateralized by non-cash collateral, each Fund receives loan premiums paid by the borrower. With respect to security loans collateralized by cash collateral, the earnings from the collateral investments are shared among each Fund, the security lending agent, and the borrower. Each Fund records security lending income net of allocations to the security lending agent and the borrower.

Each Fund may incur investment losses as a result of investing securities lending collateral. This could occur if an investment in each collateral investment account defaulted or became impaired. Under those circumstances, the value of each Fund's cash collateral account may be less than the amount each Fund would be required to return to the borrowers of the securities and each Fund would be required to make up for this shortfall.

During the year ended March 31, 2025, each Fund had no securities out on loan.

10. Credit and Market Risks

As a result of increasingly interconnected global economies and financial markets, armed conflict between countries or armed conflict in a geographic region has the potential to adversely impact the Funds' investments. Such conflicts and other corresponding events could result in increased volatility, reduced liquidity, and overall uncertainty. The negative impacts may be particularly acute in certain sectors or in markets for certain securities and commodities. Such conflicts also may result in a negative impact on the Funds' investments, even beyond any direct investment exposure a Fund may have to issuers located in or with significant exposure to an impacted country or geographic region.

Investments in equity securities in general are subject to market risks that may cause their prices to fluctuate over time. Fluctuations in the value of equity securities in which the Funds invest will cause the NAV of the Funds to fluctuate.

Some countries in which the Funds may invest require governmental approval for the repatriation of investment income, capital, or the proceeds of sales of securities by foreign investors. In addition, if there is deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.

The securities exchanges of certain foreign markets are substantially smaller, less liquid, and more volatile than the major securities markets in the US. Consequently, acquisition and disposition of securities by the Funds may be inhibited. In addition, a significant portion of the aggregate

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;121

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Notes to financial statements
Optimum Fund Trust

10. Credit and Market Risks (continued)

market value of securities listed on the major securities exchanges in emerging markets is held by a smaller number of investors. This may limit the number of shares available for acquisition or disposition by the Funds.

When interest rates rise, fixed income securities (i.e. debt obligations) generally will decline in value. These declines in value are greater for fixed income securities with longer maturities or durations. Interest rate changes are influenced by a number of factors, such as government policy, monetary policy, inflation expectations, and the supply and demand of bonds. A fund may be subject to a greater risk of rising interest rates when interest rates are low or inflation rates are high or rising.

Optimum Fixed Income Fund invests in high yield fixed income securities, which are securities rated lower than BBB- by Standard & Poor's Financial Services LLC and Baa3 by Moody's Investors Service, Inc., or similarly rated by another nationally recognized statistical rating organization. Investments in these higher yielding securities are generally accompanied by a greater degree of credit risk than higher rated securities. Additionally, lower rated securities may be more susceptible to adverse economic and competitive industry conditions than investment grade securities.

Optimum Fixed Income Fund invests in bank loans and other securities that may subject it to direct indebtedness risk, the risk that the Fund will not receive payment of principal, interest, and other amounts due in connection with these investments and will depend primarily on the financial condition of the borrower. Loans that are fully secured offer the Fund more protection than unsecured loans in the event of nonpayment of scheduled interest or principal, although there is no assurance that the liquidation of collateral from a secured loan would satisfy the corporate borrower's obligation, or that the collateral can be liquidated. Some loans or claims may be in default at the time of purchase. Certain of the loans and the other direct indebtedness acquired by the Fund may involve revolving credit facilities or other standby financing commitments that obligate the Fund to pay additional cash on a certain date or on demand. These commitments may require the Fund to increase its investment in a company at a time when the Fund might not otherwise decide to do so (including at a time when the company's financial condition makes it unlikely that such amounts will be repaid). To the extent that the Fund is committed to advance additional funds, it will at all times hold and maintain cash or other high grade debt obligations in an amount sufficient to meet such commitments.

As Optimum Fixed Income Fund may be required to rely upon another lending institution to collect and pass on to the Fund amounts payable with respect to the loan and to enforce the Fund's rights under the loan and other direct indebtedness, an insolvency, bankruptcy, or reorganization of the lending institution may delay or prevent the Fund from receiving such amounts. The highly leveraged nature of many loans may make them especially vulnerable to adverse changes in economic or market conditions. Investments in such loans and other direct indebtedness may involve additional risk to the Fund.

Optimum Fixed Income Fund invests in certain obligations that may have liquidity protection designed to ensure that the receipt of payments due on the underlying security is timely. Such protection may be provided through guarantees, insurance policies, or letters of credit obtained by the issuer or sponsor through third parties, through various means of structuring the transaction, or through a combination of such approaches. The Fund will not pay any additional fees for such credit support, although the existence of credit support may increase the price of a security.

Optimum Fixed Income Fund may invest in mortgage-backed and asset-backed securities. Mortgage-backed and asset-backed securities, like other fixed income securities, are subject to credit risk and interest rate risk, and may also be subject to prepayment risk and extension risk. Mortgage-backed and asset-backed securities can be highly sensitive to interest rate changes. As a result, small movements in interest rates can substantially impact the value and liquidity of these securities. Prepayment risk is the risk that the principal on mortgage-backed or asset-backed securities may be prepaid at any time, which will reduce the yield and market value of the securities and may cause the Fund to reinvest the proceeds in lower yielding securities. Extension risk is the risk that principal on mortgage-backed or asset-backed securities will be repaid more slowly than expected, which may reduce the proceeds available for reinvestment in higher yielding securities and may cause the security to experience greater volatility due to the extended maturity of the security. When interest rates rise, the value of mortgage-backed and asset-backed securities can be expected to decline. When interest rates go down, however, the value of these securities may not increase as much as other fixed income securities due to borrowers refinancing their loans at lower interest rates or prepaying their loans. In addition, mortgage-backed and asset-backed securities may decline in value, become more volatile, face difficulties in valuation, or experience reduced liquidity due to changes in general economic conditions. During periods of economic downturn, for example, underlying borrowers may not make timely payments on their loans and the value of property that secures the loans may decline in value such that it is worth less than the amount of the associated loans. If the collateral securing a mortgage-backed or asset-backed security is insufficient to repay the loan, the Fund could sustain a loss. Such risks generally will be heightened where a mortgage-backed or asset-backed security includes "subprime" loans.

&nbsp;&nbsp;&nbsp;&nbsp;122

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Although mortgage-backed securities are often supported by government guarantees or private insurance, there can be no guarantee that those obligations will be met. Furthermore, in certain economic conditions, loan servicers, loan originators and other participants in the market for mortgage-backed and other asset-backed securities may be unable to receive sufficient funding, impairing their ability to perform their obligations on the loans. Certain mortgage-backed or asset-backed securities may be more susceptible to these risks than other mortgage-backed, asset-backed, or fixed-income securities. For example, the Fund's investments in CMOs, real estate mortgage investment conduits (REMICs), and stripped mortgage-backed securities are generally highly susceptible to interest rate risk, prepayment risk, and extension risk. At times, these investments may be difficult to value and/or illiquid. Some classes of CMOs and REMICs may have preference in receiving principal or interest payments relative to more junior classes. The market prices and yields of these junior classes will generally be more volatile than more senior classes and will be more susceptible to interest rate risk, prepayment risk, and extension risk than more senior classes. Stripped mortgage-backed securities that receive only payments of interest (IOs) will generally decrease in value if interest rates decline or prepayment rates increase. Stripped mortgage-backed securities that receive only payments of principal (POs) will generally decrease in value if interest rates increase or prepayment rates decrease. These changes in value can be substantial and could cause the Fund to lose the entire value of its investment in CMOs, REMICs, and stripped mortgage-backed securities.

Optimum Small-Mid Cap Growth Fund and Optimum Small-Mid Cap Value Fund invest a significant portion of their assets in small- and

mid-sized companies and may be subject to certain risks associated with ownership of securities of such companies. Investments in small- and mid-sized companies may be more volatile than investments in larger companies for a number of reasons, which include more limited financial resources or a dependence on narrow product lines.

Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, Optimum Small-Mid Cap Growth Fund, and Optimum Small-Mid Cap Value Fund may invest in REITs and are subject to the risks associated with that industry. If a Fund holds real estate directly or receives rental income directly from real estate holdings, its tax status as a regulated investment company may be jeopardized. There were no direct real estate holdings during the year ended March 31, 2025. The Funds' REIT holdings are also affected by interest rate changes, particularly if the REITs they hold use floating rate debt to finance their ongoing operations. The Funds also invest in real estate acquired as a result of ownership of securities or other instruments, including issuers that invest, deal, or otherwise engage in transactions in real estate or interests therein. These instruments may include interests in private equity limited partnerships or limited liability companies that hold real estate investments (Real Estate Limited Partnerships). The Funds will limit their investments in Real Estate Limited Partnerships to 5% of their total assets at the time of purchase.

Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, and Optimum Small-Mid Cap Growth Fund invested in growth stocks (such as those in the technology sector), which reflect projections of future earnings and revenue. These prices may rise or fall dramatically depending on whether those projections are met. These companies' stock prices may be more volatile, particularly over the short-term.

Derivatives contracts, such as futures, forward foreign currency contracts, options, and swaps, may involve additional expenses (such as the payment of premiums) and are subject to significant loss, which may exceed amounts disclosed on the "Statements of assets and liabilities", if a security, index, reference rate, or other asset or market factor to which a derivatives contract is associated, moves in the opposite direction from what the portfolio manager anticipated. When used for hedging, the change in value of the derivatives instrument may also not correlate specifically with the currency, rate, or other risk being hedged, in which case a fund may not realize the intended benefits. Derivatives contracts are also subject to the risk that the counterparty may fail to perform its obligations under the contract due to, among other reasons, financial difficulties (such as a bankruptcy or reorganization).

Each Fund may invest up to 15% of its net assets in illiquid securities, which may include securities with contractual restrictions on resale, securities exempt from registration under Rule 144A promulgated under the Securities Act of 1933, as amended (1933 Act), and other securities which may not be readily marketable. The Funds may also invest in securities exempt from registration under Section 4(a)(2) of the 1933 Act, which exempts from registration transactions by an issuer not involving any public offering. The relative illiquidity of these securities may impair each Fund from disposing of them in a timely manner and at a fair price when it is necessary or desirable to do so. While maintaining oversight, the Board has delegated to DMC, the day-to-day functions of determining whether individual securities are liquid for purposes of the Funds' limitation on investments in illiquid securities. Securities eligible for resale pursuant to Rule 144A, which are determined to be liquid, are not subject to the Funds' 15% limit on investments in illiquid securities. Rule 144A and restricted securities have been identified on the "Schedules of investments."

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;123

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Optimum Fund Trust

11. Contractual Obligations

Each Fund enters into contracts in the normal course of business that contain a variety of indemnifications. Each Fund's maximum exposure under these arrangements is unknown. However, each Fund has not had prior claims or losses pursuant to these contracts. Management has reviewed each Fund's existing contracts and expects the risk of loss to be remote.

12. Recent Accounting Pronouncements

In December 2023, the FASB issued Accounting Standards Update (ASU), ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Taxes Disclosures, which enhances the transparency of income tax disclosures. The ASU requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments under this ASU are required to be applied prospectively and are effective for fiscal years beginning after December 15, 2024. Management expects that adoption of the guidance will not have a material impact on each Fund's financial statements.

13. Subsequent Events

On April 21, 2025, Macquarie Group Limited, the parent company of DMC, together with certain of its affiliates, and Nomura Holding America Inc. (Nomura), announced that they had entered into an agreement for Nomura to acquire Macquarie Asset Management's US and European public investments business. The transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals. Subject to such approvals and the satisfaction of these conditions, the transaction is expected to close by the end of October 2025. This is subject to change.

Management has determined that no other material events or transactions occurred subsequent to March 31, 2025, that would require recognition or disclosure in the Funds' financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;124

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Report of independent registered public accounting firm

To the Board of Trustees of Optimum Fund Trust and Shareholders of Optimum Fixed Income Fund, Optimum International Fund, Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, Optimum Small-Mid Cap Growth Fund and Optimum Small-Mid Cap Value Fund

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Optimum Fixed Income Fund, Optimum International Fund, Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund, Optimum Small-Mid Cap Growth Fund and Optimum Small-Mid Cap Value Fund (constituting Optimum Fund Trust, hereafter collectively referred to as the "Funds") as of March 31, 2025, the related statements of operations for the year ended March 31, 2025, the statements of changes in net assets for each of the two years in the period ended March 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended March 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2025 and the financial highlights for each of the five years in the period ended March 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements 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 of these financial statements 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 are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, 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. 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. Our procedures included confirmation of securities owned as of March 31, 2025 by correspondence with the custodian, transfer agents, portfolio companies, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

May 30, 2025

We have served as the auditor of one or more Macquarie investment companies since 2010.

&nbsp;&nbsp;&nbsp;&nbsp;125

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

## Other Fund information (Unaudited)
Optimum Fund Trust

#### Tax Information
The information set forth below is for the Fund's fiscal year as required by federal income tax laws. Shareholders, however, must report distributions on a calendar year basis for income tax purposes, which may include distributions for portions of two fiscal years of the Fund. Accordingly, the information needed by shareholders for income tax purposes will be sent to them in January of each year. Please consult your tax advisor for proper treatment of this information.

All disclosures are based on financial information available as of the date of this annual report and, accordingly are subject to change. For any and all items requiring reporting, it is the intention of the Fund to report the maximum amount permitted under the Internal Revenue Code and the regulations thereunder.

For the fiscal year ended March 31, 2025, the Funds report distributions paid during the year as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;(A)<br> Ordinary Income<br> Distributions\*<br> (Tax Basis) | &nbsp;&nbsp;&nbsp;(B)<br> Long-Term<br> Capital Gains<br> Distributions<br> (Tax Basis) | &nbsp;&nbsp;&nbsp;Total<br> Distributions<br> (Tax Basis) | &nbsp;&nbsp;&nbsp;(C)<br> Qualifying<br> Dividends<sup>1</sup> |
| Optimum Fixed Income Fund | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum International Fund | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;27.76% | &nbsp;&nbsp;&nbsp;72.24% | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Optimum Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;17.85% | &nbsp;&nbsp;&nbsp;82.15% | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;100.00% |
| Optimum Small-Mid Cap Growth Fund | &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;— |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;35.69% | &nbsp;&nbsp;&nbsp;64.31% | &nbsp;&nbsp;&nbsp;100.00% | &nbsp;&nbsp;&nbsp;&nbsp;59.60% |

---

------

(A) and (B) are based on a percentage of each Fund's total distributions.

(C) is based on each Fund's ordinary income distributions.

<sup>1</sup>Qualified dividends represent dividends which qualify for corporate dividends received deduction.

\*For the fiscal year ended March 31, 2025, certain dividends paid by the Funds may be subject to a maximum tax rate of 20%. The percentage of dividends paid by the Funds from ordinary income reported as qualified income are reported in the following table. Complete information will be computed and reported in conjunction with your 2025 Form 1099-DIV.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Optimum Fixed Income Fund | &nbsp;&nbsp;Optimum<br> International<br> Fund | &nbsp;&nbsp;Optimum Large Cap Growth Fund | &nbsp;&nbsp;Optimum<br> Large Cap<br> Value Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Growth Fund | &nbsp;&nbsp;Optimum<br> Small-Mid Cap<br> Value Fund |
| &nbsp;&nbsp;— | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;— | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;— | &nbsp;&nbsp;60.68% |

---

For the fiscal year ended March 31, 2025, certain distributions paid by the Funds, determined to be Qualified Interest Income or Qualified Short-Term Capital Gains may be subject to relief from US tax withholding for foreign shareholders, as provided by the American Jobs Creation Act of 2004; the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010; and as extended by the American Taxpayer Relief Act of 2012. For the fiscal year ended March 31, 2025, the Funds have reported maximum distributions of Qualified Interest Income and Qualified Short-Term Capital Gains as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Qualified Interest Income | &nbsp;&nbsp;&nbsp;Qualified Short-Term Capital Gains |
| Optimum Fixed Income Fund | &nbsp;&nbsp;$71488318 | &nbsp;&nbsp;&nbsp;$— |
| Optimum Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;31233656 |
| Optimum Small-Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;28865919 |

---

Optimum International Fund intends to pass through foreign tax credits in the maximum amount of $2,750,612. The gross foreign source income earned during the fiscal year 2025 by the Fund was $22,579,389.

The percentage of the ordinary dividends reported by Optimum Fixed Income Fund that is treated as a Section 163(j) interest dividend and thus is eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder is 100.00%.

&nbsp;&nbsp;&nbsp;&nbsp;126

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

#### Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.

#### Proxy Disclosures for Open-End Management Investment Companies

---

| | | |
|:---|:---|:---|
| Nominee | &nbsp;&nbsp;&nbsp;Shares Voted For | &nbsp;&nbsp;&nbsp;Shares Withheld |
| Cheri Belski | &nbsp;&nbsp;&nbsp;676793368.862 | &nbsp;&nbsp;&nbsp;1043161.176 |
| John Leonard | &nbsp;&nbsp;&nbsp;676692710.616 | &nbsp;&nbsp;&nbsp;1143819.422 |
| Kevin G. Chavers | &nbsp;&nbsp;&nbsp;676678399.901 | &nbsp;&nbsp;&nbsp;1158130.137 |
| Dianna Gonzales-Burdin | &nbsp;&nbsp;&nbsp;676825535.614 | &nbsp;&nbsp;&nbsp;1010994.424 |
| Mark K. Hancock | &nbsp;&nbsp;&nbsp;676708326.105 | &nbsp;&nbsp;&nbsp;1128203.933 |
| Pamela J. Moret | &nbsp;&nbsp;&nbsp;676727456.576 | &nbsp;&nbsp;&nbsp;1109073.462 |
| Stephen P. Mullin | &nbsp;&nbsp;&nbsp;676667630.071 | &nbsp;&nbsp;&nbsp;1168899.967 |
| Susan M. Stalnecker | &nbsp;&nbsp;&nbsp;676775455.919 | &nbsp;&nbsp;&nbsp;1061074.119 |
| Gary R. Young | &nbsp;&nbsp;&nbsp;676717722.781 | &nbsp;&nbsp;&nbsp;1118807.257 |

---

#### Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers, and others is disclosed within the financial statements.

#### Statement Regarding Basis of Approval for Investment Advisory Contract
Not applicable.

(continues)

&nbsp;&nbsp;&nbsp;&nbsp;127

------

[**Table of Contents**](#JOB_DI_-__f520a60d-606e-4736-9746-f105217eb685_TOC_AltSty1)

Macquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM is an integrated asset manager across public and private markets offering a diverse range of capabilities, including real assets, real estate, credit, equities, and multi-asset solutions.

**Other than Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie Bank"), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.**

The Funds are governed by US laws and regulations.

(4447791) Cat.#157905 5/25 **AR-901-0525** 

Printed in the USA

------

The Financial Highlights are attached herewith.

#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies.
This information is included as part of materials filed under Item 7 of this form.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
This information is included as part of materials filed under Item 7 of this form.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.

#### 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.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

#### Item 16. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)) and provide reasonable assurance that the information required to be disclosed by the registrant in its reports or statements filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission.

------

(b) There were no significant changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d)) that occurred during the period covered by the report to stockholders included herein 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.
Not applicable.

#### Item 19. Exhibits.

---

| | |
|:---|:---|
| (a)(1) | Not applicable. |
| (a)(2) | Not applicable. |
| (a)(3) | [Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto as Exhibit \[99.CERT\].](d906425dex99cert.htm) |
| (a)(4) | There were no written solicitations to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the Registrant to 10 or more persons. |
| (a)(5) | There was no change in the Registrant's independent public accountant during the period covered by the report. |
| (b) | [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes- Oxley Act of 2002 are attached hereto as Exhibit 99.906 CERT.](d906425dex99906cert.htm) |

---

------

#### 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.

---

| | |
|:---|:---|
| **Name of Registrant**: Optimum Fund Trust | **Name of Registrant**: Optimum Fund Trust |
| /s/JOHN C. LEONARD | /s/JOHN C. LEONARD |
| By: | John C. Leonard |
| Title: | President and Chief Executive Officer |
| Date: | June 5, 2025 |

---

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.

---

| | |
|:---|:---|
| /s/JOHN C. LEONARD | /s/JOHN C. LEONARD |
| By: | John C. Leonard |
| Title: | President and Chief Executive Officer |
| Date: | June 5, 2025 |
| /s/DANIEL V. GEATENS | /s/DANIEL V. GEATENS |
| By: | Daniel V. Geatens |
| Title: | Chief Financial Officer |
| Date: | June 5, 2025 |

---

## Ex-99.Cert

**EXHIBIT 99.CERT** 

**<u>CERTIFICATION</u>**

I, John C. Leonard, certify that:

1. I have reviewed this report on Form N-CSR of Optimum Fund 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(s) 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(s) 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: June 5, 2025

------

---

| | |
|:---|:---|
| /s/JOHN C. LEONARD | /s/JOHN C. LEONARD |
| By: | John C. Leonard |
| Title: | President and Chief Executive Officer |

---

------

**<u>CERTIFICATION</u>**

I, Daniel V. Geatens, certify that:

1. I have reviewed this report on Form N-CSR of Optimum Fund 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(s) 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(s) 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: June 5, 2025

------

---

| | |
|:---|:---|
| /s/DANIEL V. GEATENS | /s/DANIEL V. GEATENS |
| By: | Daniel V. Geatens |
| Title: | Chief Financial Officer |

---

## Exhibit 99.906

**EXHIBIT 99.906CERT** 

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

In connection with the attached report of the registrant on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify, to the best of such officer's knowledge, that:

1. The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities
Exchange Act of 1934; and

2. The information contained in the Report fairly represents, in all material respects, the financial condition
and results of operations of the registrant as of, and for, the periods presented in the Report.

---

| | |
|:---|:---|
| Date: | June 5, 2025 |
| /s/JOHN C. LEONARD | /s/JOHN C. LEONARD |
| By: | John C. Leonard |
| Title: | President and Chief Executive Officer |
| /s/DANIEL V. GEATENS | /s/DANIEL V. GEATENS |
| By: | Daniel V. Geatens |
| Title: | Chief Financial Officer |

---

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act, or other document authenticating, acknowledging, or otherwise adopting the signatures that appear in typed form within the electronic version of this written statement required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the SEC or its staff upon request.