# EDGAR Filing Document

**Accession Number:** 0001139819
**File Stem:** 0000930413-26-000961
**Filing Date:** 2026-4
**Character Count:** 591993
**Document Hash:** 4d10187a81248b8e753ce8b979778952
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-000961.hdr.sgml**: 20260402

**ACCESSION NUMBER**: 0000930413-26-000961

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260402

**DATE AS OF CHANGE**: 20260402

**EFFECTIVENESS DATE**: 20260402

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LORD ABBETT TRUST I
- **CENTRAL INDEX KEY:** 0001139819

**ORGANIZATION NAME:**
- **EIN:** 223805271
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10371
- **FILM NUMBER:** 26831112

**BUSINESS ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 201-827-2000

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LORD ABBETT EQUITY TRUST
- **DATE OF NAME CHANGE:** 20110729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LORD ABBETT BLEND TRUST
- **DATE OF NAME CHANGE:** 20010502

## Series and Classes Contracts Data

### Lord Abbett Short Duration High Yield Fund (Series ID: S000068467)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218932 | Class R6     | LSYUX           |
| C000218933 | Class R5     | LSYTX           |
| C000218934 | Class R4     | LSYSX           |
| C000218935 | Class R3     | LSYQX           |
| C000218936 | Class A      | LSYAX           |
| C000218937 | Class I      | LSYIX           |
| C000218938 | Class F3     | LSYNX           |
| C000218939 | Class F      | LSYFX           |
| C000218940 | Class C      | LSYCX           |

### Lord Abbett International Growth Fund (Series ID: S000072312)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000228424 | Class R6     | LAVGX           |
| C000228425 | Class R5     | LTAGX           |
| C000228426 | Class R4     | LASGX           |
| C000228427 | Class R3     | LRAGX           |
| C000228428 | Class A      | LAAGX           |
| C000228429 | Class I      | LIAGX           |
| C000228430 | Class F3     | LOAGX           |
| C000228431 | Class F      | LAFGX           |
| C000228432 | Class C      | LCAGX           |

### Lord Abbett Emerging Markets Equity Fund (Series ID: S000073854)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000231074 | Class R6     | EMWLX           |
| C000231078 | Class A      | EAMAX           |
| C000231079 | Class I      | EMILX           |
| C000231080 | Class F3     | EMOLX           |
| C000231081 | Class F      | ELMFX           |
| C000231082 | Class C      | ELMCX           |

### Lord Abbett Investment Grade Floating Rate Fund (Series ID: S000080204)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000241940 | Class R6     | LGRUX           |
| C000241941 | Class R5     | IGRSX           |
| C000241944 | Class A      | LGRAX           |
| C000241945 | Class I      | LGRYX           |
| C000241946 | Class F3     | IGRNX           |
| C000241947 | Class F      | LGRFX           |
| C000241948 | Class C      | IGRCX           |

### Lord Abbett Diversification Shares: Enhanced Municipal Yield Completion Fund (Series ID: S000084572)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000248998 | LADS: Enhanced Municipal Yield Completion Fund | LAEMX           |

?xml version='1.0' encoding='ASCII'?

**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: 811-10371

**LORD ABBETT TRUST I**

(Exact name of Registrant as specified in charter)

<u>30 Hudson Street, Jersey City, New Jersey 07302-4804</u>

(Address of principal executive offices) (Zip code)

Randolph A. Stuzin, Esq.

Vice President and Assistant Secretary

<u>30 Hudson Street, Jersey City, New Jersey 07302-4804</u>

(Name and address of agent for service)

Registrant's telephone number, including area code: (888) 522-2388

Date of fiscal year end: 7/31

Date of reporting period: 1/31/2026

Item 1: Report(s) to Shareholders.

![Image](i82558743360f182fcac0c4fe.jpg)

#### Class A

#### EAMAX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $65 | 1.15%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9080-A

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class C

#### ELMCX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $108 | 1.90%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9081-C

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F

#### ELMFX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $51 | 0.90%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9082-F

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F3

#### EMOLX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $49 | 0.87%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9083-F3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class I

#### EMILX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $51 | 0.90%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9084-I

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R6

#### EMWLX

# Lord Abbett Emerging Markets Equity Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Emerging Markets Equity Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $49 | 0.87%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $10825070 |
| # of Portfolio Holdings | 97 |
| Portfolio Turnover Rate | 29% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 9.60% |
| Consumer Discretionary | 9.95% |
| Consumer Staples | 2.41% |
| Energy | 2.15% |
| Financials | 23.98% |
| Health Care | 2.87% |
| Industrials | 9.70% |
| Information Technology | 32.91% |
| Materials | 4.79% |
| Real Estate | 0.42% |
| Utilities | 1.22% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9088-R6

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### LAEMX

# Lord Abbett Enhanced Municipal Yield Completion Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/SMADocuments
This semi-annual shareholder report contains important information about the Lord Abbett Enhanced Municipal Yield Completion Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/SMADocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Enhanced Municipal Yield Completion Fund | $0 | 0.00%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $397464435 |
| # of Portfolio Holdings | 271 |
| Portfolio Turnover Rate | 35% |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

**Portfolio Holdings Presented by Credit Rating S&P or
Moody's<sup>Footnote Reference(a)</sup>**
**%<sup>Footnote
Reference\*\*</sup>**
* A2.49%

* A-3.26%

* A+1.11%

* AA0.77%

* AA-1.02%

* AA+2.02%

* AAA1.58%

* B1.98%

* B-1.12%

* B+1.69%

* BB3.32%

* BB-1.39%

* BB+8.67%

* BBB13.04%

* BBB-12.95%

* BBB+16.54%

* CC0.00%

* CCC+0.01%

* NR27.04%

* Total 100.00%

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Investments in investment grade municipal bonds, which as bonds that are rated, at the time of purchase, within the four highest grades assigned by an independent rating agency such as Moody's, S&P, or Fitch, or an equivalent short-term rating, as applicable, or are unrated by rating agencies but deemed by Lord Abbett to be of comparable quality. Lower rated municipal bonds are rated, at the time of purchase, or an equivalent short-term rating, as applicable, by an independent rating agency or are unrated by rating agencies but deemed by Lord Abbett to be of comparable quality. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/SMADocuments.

#### TSR-SA-7000-CF

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class A

#### LGRAX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $29 | 0.57%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9269-A

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class C

#### IGRCX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $69 | 1.35%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9270-C

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F

#### LGRFX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $21 | 0.41%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9271-F

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F3

#### IGRNX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $15 | 0.30%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9272-F3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class I

#### LGRYX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $19 | 0.37%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9273-I

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R5

#### IGRSX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $19 | 0.37%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9277-R5

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R6

#### LGRUX

# Lord Abbett Investment Grade Floating Rate Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Investment Grade Floating Rate Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $13 | 0.26%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $3766764360 |
| # of Portfolio Holdings | 711 |
| Portfolio Turnover Rate | 42% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 72.60% |
| Corporate Bonds | 7.19% |
| Floating Rate Loans | 7.72% |
| Foreign Government Obligations | 0.01% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 1.28% |
| Government Sponsored Enterprises Securities | 1.06% |
| Non-Agency Commercial Mortgage-Backed Securities | 6.53% |
| U.S. Treasury Obligations | 3.15% |
| Repurchase Agreements | 0.34% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.11% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9278-R6

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class A

#### LAAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $52 | 0.95%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9250-A

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class C

#### LCAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $92 | 1.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9251-C

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F

#### LAFGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $38 | 0.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9252-F

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F3

#### LOAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $35 | 0.64%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9253-F3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class I

#### LIAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $38 | 0.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9254-I

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R3

#### LRAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $65 | 1.20%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9255-R3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R4

#### LASGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $52 | 0.95%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9256-R4

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R5

#### LTAGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $38 | 0.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9257-R5

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R6

#### LAVGX

# Lord Abbett International Growth Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett International Growth Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $35 | 0.64%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $4432465 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 44% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.16% |
| Consumer Discretionary | 7.98% |
| Consumer Staples | 3.29% |
| Financials | 10.59% |
| Health Care | 13.14% |
| Industrials | 23.62% |
| Information Technology | 27.17% |
| Materials | 6.05% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9258-R6

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class A

#### LSYAX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $33 | 0.65%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9050-A

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class C

#### LSYCX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $71 | 1.38%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9051-C

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F

#### LSYFX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $25 | 0.48%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9052-F

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class F3

#### LSYNX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $19 | 0.37%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9054-F3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class I

#### LSYIX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $23 | 0.45%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9053-I

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R3

#### LSYQX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $49 | 0.95%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9055-R3

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R4

#### LSYSX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $36 | 0.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9056-R4

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R5

#### LSYTX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $23 | 0.45%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9057-R5

#### 03/26
![Image](i82558743360f182fcac0c4fe.jpg)

#### Class R6

#### LSYUX

# Lord Abbett Short Duration High Yield Fund

#### Semi-Annual Shareholder Report

#### January 31, 2026

#### lordabbett.com/FundDocuments
This semi-annual shareholder report contains important information about the Lord Abbett Short Duration High Yield Fund for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last period?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $19 | 0.37%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

## **What did the Fund invest in?** 
(as of January 31, 2026)

## **Key Fund Statistics** 
(as of *January 31, 2026*)

---

| | |
|:---|:---|
| Total Net Assets | $9697928061 |
| # of Portfolio Holdings | 626 |
| Portfolio Turnover Rate | 46% |

---

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Asset-Backed Securities | 0.43% |
| Common Stocks | 0.02% |
| Convertible Bonds | 2.03% |
| Convertible Preferred Stocks | 0.20% |
| Corporate Bonds | 85.98% |
| Floating Rate Loans | 6.62% |
| Government Sponsored Enterprises Collateralized Mortgage Obligations | 0.52% |
| Non-Agency Commercial Mortgage-Backed Securities | 0.06% |
| Repurchase Agreements | 0.45% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 3.32% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.37% |
| Total | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

**Where can I find additional information about the Fund?** 

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

#### TSR-SA-9058-R6

#### 03/26
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

---

| | |
|:---|:---|
| Item 2: | Code of Ethics. |
|  | Not applicable. |
| Item 3: | Audit Committee Financial Expert. |
|  | Not applicable. |
| Item 4: | Principal Accountant Fees and Services. |
|  | Not applicable. |
| Item 5: | Audit Committee of Listed Registrants. |
|  | Not applicable. |
| Item 6: | Investments. |
|  | The Registrant's "Schedule I - Investments in securities of unaffiliated issuers" as of the close of the reporting period is included under Item 7 of this Form N-CSR. |
| Item 7: | Financial Statements and Financial Highlights for Open-End Management Investment Companies. |
| Item 8: | Changes in and Disagreements with Accountants for Open-End Management Investment Companies. |
| Item 9: | Proxy Disclosures for Open-End Management Investment Companies. |
| Item 10: | Remuneration Paid to Directors, Officers, and Others for Open-End Management Investment Companies. |
| Item 11: | Statement Regarding Basis for Approval of Investment Advisory Contract. |
|  | The Fund's Board of Directors did not approve any investment advisory contract during the Fund's most recent fiscal half-year. |

---

![](x7_c115320x1x1m4.jpg)

LORD ABBETT

FINANCIAL STATEMENTS

AND OTHER IMPORTANT

INFORMATION

Lord Abbett

Emerging Markets Equity Fund

International Growth Fund

Investment Grade Floating Rate Fund

Short Duration High Yield Fund

*For the six-month period ended January 31, 2026*

**Table of Contents**

---

| | |
|:---|:---|
|  | [**Schedules of Investments (Item 7):**](#xx7xc115320a001xm4) |
| 1 | [Emerging Markets Equity Fund](#xx7xc115320a002xm4) |
| 6 | [International Growth Fund](#xx7xc115320a003xm4) |
| 11 | [Investment Grade Floating Rate Fund](#xx7xc115320a004xm4) |
| 57 | [Short Duration High Yield Fund](#xx7xc115320a005xm4) |
| 90 | [**Statements of Assets and Liabilities (Item 7)**](#xx7xc115320a006xm4) |
| 94 | [**Statements of Operations (Item 7)**](#xx7xc115320a007xm4) |
| 96 | [**Statements of Changes in Net Assets (Item 7)**](#xx7xc115320a008xm4) |
| 100 | [**Financial Highlights (Item 7)**](#xx7xc115320a009xm4) |
| 114 | [**Notes to Financial Statements (Item 7)**](#xx7xc115320a010xm4) |
| 140 | [**Changes in and Disagreements with Accountants (Item 8)**](#xx7xc115320a011xm4) |
| 140 | [**Proxy Disclosures (Item 9)**](#xx7xc115320a012xm4) |
| 140 | [**Remuneration Paid to Trustees, Officers, and Others (Item 10)**](#xx7xc115320a013xm4) |

---

**Schedule of Investments (unaudited)**

EMERGING MARKETS EQUITY FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 98.79%** |  |  |
| **COMMON STOCKS 96.44%** |  |  |
| **Australia 0.75%** |  |  |
| *Metals & Mining* |  |  |
| Anglogold Ashanti PLC | 879 | $81633 |
| **Austria 0.50%** |  |  |
| *Banks* |  |  |
| Erste Group Bank AG | 414 | 53824 |
| **Brazil 5.19%** |  |  |
| *Aerospace & Defense 0.87%* |  |  |
| Embraer SA | 5139 | 94670 |
| *Banks 0.80%* |  |  |
| NU Holdings Ltd. Class A\* | 4881 | 86638 |
| *Broadline Retail 0.71%* |  |  |
| MercadoLibre, Inc.\* | 36 | 77320 |
| *Capital Markets 0.81%* |  |  |
| B3 SA - Brasil Bolsa Balcao | 28477 | 87389 |
| *Metals & Mining 1.19%* |  |  |
| Vale SA | 8051 | 128994 |
| *Water Utilities 0.81%* |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 3248 | 87156 |
| *Total Brazil* |  | 562167 |
| **Canada 0.59%** |  |  |
| *Metals & Mining* |  |  |
| Capstone Copper Corp.\* | 5783 | 64088 |
| **China 18.65%** |  |  |
| *Automobiles 0.38%* |  |  |
| BYD Co. Ltd. Class H | 3286 | 40966 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **China (continued)** |  |  |
| *Banks 2.47%* |  |  |
| China Construction Bank Corp. Class H | 151686 | $153162 |
| Industrial & Commercial Bank of China Ltd. Class H | 137078 | 113706 |
|  |  | 266868 |
| *Broadline Retail 3.94%* |  |  |
| Alibaba Group Holding Ltd. | 17962 | 382116 |
| PDD Holdings, Inc. ADR\* | 437 | 44159 |
|  |  | 426275 |
| *Electrical Equipment 1.23%* |  |  |
| Contemporary Amperex Technology Co. Ltd. Class A | 1386 | 69933 |
| NARI Technology Co. Ltd. Class A | 17389 | 62898 |
|  |  | 132831 |
| *Entertainment 1.36%* |  |  |
| NetEase, Inc. | 3215 | 83365 |
| Tencent Music Entertainment Group ADR | 3819 | 64083 |
|  |  | 147448 |
| *Hotels, Restaurants & Leisure 0.51%* |  |  |
| Trip.com Group Ltd. | 900 | 55238 |
| *Insurance 1.91%* |  |  |
| PICC Property & Casualty Co. Ltd. Class H | 25237 | 52246 |
| Ping An Insurance Group Co. of China Ltd. Class H | 16703 | 154926 |
|  |  | 207172 |
| *Interactive Media & Services 4.69%* |  |  |
| Kuaishou Technology<sup>†</sup> | 2729 | 27883 |
| Tencent Holdings Ltd. | 6249 | 480309 |
|  |  | 508192 |

---

<br> *See Notes to Financial Statements.* 1

**Schedule of Investments (unaudited)(continued)**

EMERGING MARKETS EQUITY FUND *January 31, 2026*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **China (continued)** |  |  |  |
| *Marine Transportation 0.48%* |  |  |  |
| SITC International Holdings Co. Ltd. | 14013 | $| 52327 |
| *Pharmaceuticals 0.64%* |  |  |  |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A | 8230 |  | 68836 |
| *Real Estate Management & Development 0.41%* | *Real Estate Management & Development 0.41%* |  |  |
| China Resources Land Ltd. | 11366 |  | 44511 |
| *Technology Hardware, Storage & Peripherals 0.19%* | *Technology Hardware, Storage & Peripherals 0.19%* | *Technology Hardware, Storage & Peripherals 0.19%* | *Technology Hardware, Storage & Peripherals 0.19%* |
| Xiaomi Corp. Class B<sup>†\*</sup> | 4480 |  | 20279 |
| *Textiles, Apparel & Luxury Goods 0.44%* |  |  |  |
| ANTA Sports Products Ltd. | 4803 |  | 47982 |
| *Total China* |  |  | 2018925 |
| **Greece 0.69%** |  |  |  |
| *Banks* |  |  |  |
| Alpha Bank SA | 15713 |  | 75217 |
| **Hong Kong 2.27%** |  |  |  |
| *Capital Markets 0.84%* |  |  |  |
| Futu Holdings Ltd. ADR\* | 139 |  | 22597 |
| Hong Kong Exchanges & Clearing Ltd. | 1243 |  | 68528 |
|  |  |  | 91125 |
| *Insurance 0.89%* |  |  |  |
| Prudential PLC | 5853 |  | 96137 |
| *Machinery 0.54%* |  |  |  |
| Techtronic Industries Co. Ltd. | 4301 |  | 58715 |
| *Total Hong Kong* |  |  | 245977 |
| **Hungary 1.68%** |  |  |  |
| *Banks* |  |  |  |
| OTP Bank Nyrt | 1448 |  | 182205 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **India 10.57%** | | |
| *Automobiles 0.53%* |  |  |
| Maruti Suzuki India Ltd. | 360 | $57192 |
| *Banks 2.10%* |  |  |
| HDFC Bank Ltd. | 12547 | 126866 |
| ICICI Bank Ltd. ADR | 3435 | 100611 |
|  |  | 227477 |
| *Beverages 0.77%* |  |  |
| United Spirits Ltd. | 3839 | 56867 |
| Varun Beverages Ltd. | 5258 | 26933 |
|  |  | 83800 |
| *Consumer Finance 0.89%* |  |  |
| Shriram Finance Ltd. | 8703 | 96608 |
| *Health Care Providers & Services 0.52%* |  |  |
| Max Healthcare Institute Ltd. | 5387 | 56096 |
| *Hotels, Restaurants & Leisure 0.74%* |  |  |
| Eternal Ltd.\* | 5749 | 17136 |
| Indian Hotels Co. Ltd. | 6242 | 45790 |
| MakeMyTrip Ltd.\* | 283 | 17654 |
|  |  | 80580 |
| *Information Technology Services 0.28%* |  |  |
| Tata Consultancy Services Ltd. | 874 | 29723 |
| *Oil, Gas & Consumable Fuels 0.59%* |  |  |
| Reliance Industries Ltd. | 4170 | 63363 |
| *Pharmaceuticals 0.48%* |  |  |
| Torrent Pharmaceuticals Ltd. | 1197 | 51581 |
| *Transportation Infrastructure 1.05%* |  |  |
| Adani Ports & Special Economic Zone Ltd. | 4548 | 70294 |
| GMR Airports Ltd.\* | 42357 | 43271 |
|  |  | 113565 |
| *Wireless Telecommunication Services 2.62%* |  |  |
| Bharti Airtel Ltd. | 13234 | 283829 |
| *Total India* |  | 1143814 |

---

<br> 2 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

EMERGING MARKETS EQUITY FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Indonesia 0.26%** |  |  |
| *Banks* |  |  |
| Bank Central Asia Tbk. PT | 64158 | $28348 |
| **Macau 0.32%** |  |  |
| *Hotels, Restaurants & Leisure* |  |  |
| Galaxy Entertainment Group Ltd. | 6886 | 34986 |
| **Mexico 2.73%** |  |  |
| *Banks 1.00%* |  |  |
| Grupo Financiero Banorte SAB de CV Class O | 9574 | 108236 |
| *Construction Materials 0.62%* |  |  |
| Cemex SAB de CV ADR | 5382 | 67167 |
| *Consumer Finance 0.48%* |  |  |
| Gentera SAB de CV | 18718 | 52215 |
| *Metals & Mining 0.63%* |  |  |
| Grupo Mexico SAB de CV | 6082 | 67533 |
| *Total Mexico* |  | 295151 |
| **Peru 1.56%** |  |  |
| *Banks* |  |  |
| Credicorp Ltd. | 473 | 168780 |
| **Philippines 0.32%** |  |  |
| *Banks* |  |  |
| BDO Unibank, Inc. | 15015 | 34413 |
| **Saudi Arabia 1.00%** |  |  |
| *Banks* |  |  |
| Saudi National Bank | 9029 | 107991 |
| **Singapore 0.39%** |  |  |
| *Broadline Retail* |  |  |
| Sea Ltd. ADR\* | 361 | 42053 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **South Africa 3.15%** |  |  |
| *Banks 1.28%* |  |  |
| Capitec Bank Holdings Ltd. | 515 | $138274 |
| *Broadline Retail 0.92%* |  |  |
| Naspers Ltd. Class N | 1619 | 99124 |
| *Metals & Mining 0.95%* |  |  |
| Gold Fields Ltd. ADR | 2061 | 103297 |
| *Total South Africa* |  | 340695 |
| **South Korea 21.74%** |  |  |
| *Aerospace & Defense 1.71%* |  |  |
| Hanwha Aerospace Co. Ltd.\* | 206 | 185437 |
| *Automobiles 0.95%* |  |  |
| Kia Corp. | 961 | 102254 |
| *Banks 1.87%* |  |  |
| KB Financial Group, Inc. | 1285 | 120275 |
| Shinhan Financial Group Co. Ltd. | 1413 | 82581 |
|  |  | 202856 |
| *Construction & Engineering 0.19%* |  |  |
| Hyundai Engineering & Construction Co. Ltd. | 287 | 20372 |
| *Electric: Utilities 0.40%* |  |  |
| Korea Electric Power Corp.\* | 1064 | 42914 |
| *Electrical Equipment 2.08%* |  |  |
| HD Hyundai Electric Co. Ltd. | 225 | 137845 |
| LS Electric Co. Ltd.\* | 225 | 87682 |
|  |  | 225527 |
| *Life Sciences Tools & Services 0.57%* |  |  |
| Samsung Biologics Co. Ltd.<sup>†</sup>\* | 51 | 61634 |
| *Machinery 0.48%* |  |  |
| HD Hyundai Heavy Industries Co. Ltd. | 130 | 51744 |

---

<br> *See Notes to Financial Statements.* 3

**Schedule of Investments (unaudited)(continued)**

EMERGING MARKETS EQUITY FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **South Korea (continued)** |  |  |
| *Semiconductors & Semiconductor Equipment 4.63%* | *Semiconductors & Semiconductor Equipment 4.63%* | *Semiconductors & Semiconductor Equipment 4.63%* |
| SK Hynix, Inc. | 802 | $500750 |
| *Technology Hardware, Storage & Peripherals 7.26%* | *Technology Hardware, Storage & Peripherals 7.26%* | *Technology Hardware, Storage & Peripherals 7.26%* |
| Samsung Electronics Co. Ltd. | 7115 | 786028 |
| *Tobacco 1.60%* |  |  |
| KT&G Corp. | 1623 | 173531 |
| *Total South Korea* |  | 2353047 |
| **Taiwan 19.13%** |  |  |
| *Communications Equipment 0.46%* |  |  |
| Accton Technology Corp. | 1408 | 49228 |
| *Electronic Equipment, Instruments & Components 3.06%* | *Electronic Equipment, Instruments & Components 3.06%* | *Electronic Equipment, Instruments & Components 3.06%* |
| Delta Electronics, Inc. | 3910 | 149214 |
| Elite Material Co. Ltd. | 1710 | 92755 |
| Unimicron Technology Corp. | 7485 | 88973 |
|  |  | 330942 |
| *Semiconductors & Semiconductor Equipment 14.95%* | *Semiconductors & Semiconductor Equipment 14.95%* | *Semiconductors & Semiconductor Equipment 14.95%* |
| ASE Technology Holding Co. Ltd. | 9959 | 92590 |
| King Yuan Electronics Co. Ltd. | 5960 | 55220 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 25943 | 1434542 |
| Visual Photonics Epitaxy Co. Ltd. | 6890 | 36445 |
|  |  | 1618797 |
| *Technology Hardware, Storage & Peripherals 0.66%* | *Technology Hardware, Storage & Peripherals 0.66%* | *Technology Hardware, Storage & Peripherals 0.66%* |
| Asia Vital Components Co. Ltd. | 1573 | 71466 |
| *Total Taiwan* |  | 2070433 |
| **Thailand 1.49%** |  |  |
| *Electronic Equipment, Instruments & Components 0.69%* | *Electronic Equipment, Instruments & Components 0.69%* | *Electronic Equipment, Instruments & Components 0.69%* |
| Fabrinet\* | 153 | 74885 |
| *Wireless Telecommunication Services 0.80%* | *Wireless Telecommunication Services 0.80%* | *Wireless Telecommunication Services 0.80%* |
| Advanced Info Service PCL | 7824 | 86771 |
| *Total Thailand* |  | 161656 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Turkey 0.52%** |  |  |  |
| *Banks* |  |  |  |
| Akbank TAS | 26411 | $| 56495 |
| **United Arab Emirates 1.28%** |  |  |  |
| *Energy Equipment & Services 0.34%* |  |  |  |
| ADNOC Drilling Co. PJSC | 25109 |  | 36441 |
| *Passenger Airlines 0.36%* |  |  |  |
| Air Arabia PJSC | 29025 |  | 39392 |
| *Transportation Infrastructure 0.58%* |  |  |  |
| Salik Co. PJSC | 36163 |  | 62824 |
| *Total United Arab Emirates* |  |  | 138657 |
| **United States 1.66%** |  |  |  |
| *Biotechnology 0.64%* |  |  |  |
| BeOne Medicines Ltd. Class H\* | 2623 |  | 69176 |
| *Oil, Gas & Consumable Fuels 0.67%* |  |  |  |
| Shell PLC | 1879 |  | 72228 |
| *Semiconductors & Semiconductor Equipment 0.35%* | *Semiconductors & Semiconductor Equipment 0.35%* | *Semiconductors & Semiconductor Equipment 0.35%* | *Semiconductors & Semiconductor Equipment 0.35%* |
| Broadcom, Inc. | 114 |  | 37768 |
| *Total United States* |  |  | 179172 |
| *Total Common Stocks* <br> (cost $7,430,980) |  |  | 10439727 |
| **PREFERRED STOCKS 2.35%** |  |  |  |
| **Brazil 2.35%** |  |  |  |
| *Banks 1.81%* |  |  |  |
| *Banco Bradesco SA* | 28375 |  | 114896 |
| *Itau Unibanco Holding SA* | 9339 |  | 80742 |
|  |  |  | 195638 |
| *Oil, Gas & Consumable Fuels 0.54%* |  |  |  |
| Petroleo Brasileiro SA – Petrobras | 8112 |  | 58203 |
| *Total Brazil* |  |  | 253841 |
| *Total Preferred Stocks* <br> (cost $183,819) |  |  | 253841 |

---

<br> 4 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(concluded)**

EMERGING MARKETS EQUITY FUND *January 31, 2026*

---

| | |
|:---|:---|
| **Investments** | **U.S. $ Fair Value** |
| *Total Investments in Securities 98.79%*<br> (cost $7,614,799) | $10693568 |
| *Other Assets and Liabilities – Net 1.21%* | 131502 |
| *Net Assets 100.00%* | $10825070 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| \* | Non-income producing security. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2026, the total value of Rule 144A securities was $109,796, which represents 1.01% of net assets. |

---

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $81633 | $– | $– | $81633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 53824 |  | 53824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 562167 |  |  | 562167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 64088 |  |  | 64088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 108242 | 1910683 |  | 2018925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece |  | 75217 |  | 75217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | 22597 | 223380 |  | 245977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary |  | 182205 |  | 182205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | 175132 | 968682 |  | 1143814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia |  | 28348 |  | 28348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macau |  | 34986 |  | 34986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 295151 |  |  | 295151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | 168780 |  |  | 168780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines |  | 34413 |  | 34413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia |  | 107991 |  | 107991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | 42053 |  |  | 42053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | 103297 | 237398 |  | 340695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 2353047 |  | 2353047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 2070433 |  | 2070433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | 74885 | 86771 |  | 161656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey |  | 56495 |  | 56495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | 99265 | 39392 |  | 138657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 37768 | 141404 |  | 179172 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | 253841 | – | – | 253841 |
| Total | $2088899 | $8604669 | $– | $10693568 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

*See Notes to Financial Statements.* 5

**Schedule of Investments (unaudited)**

INTERNATIONAL GROWTH FUND *January 31, 2026*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 97.22%** |  |  |  |
| **COMMON STOCKS 97.22%** |  |  |  |
| **Australia 0.38%** |  |  |  |
| *Health Care Technology* |  |  |  |
| Pro Medicus Ltd. | 130 | $| 16620 |
| **Austria 2.02%** |  |  |  |
| *Banks* |  |  |  |
| BAWAG Group AG<sup>†</sup> | 200 |  | 32535 |
| Erste Group Bank AG | 439 |  | 57074 |
|  |  |  | 89609 |
| **Belgium 0.80%** |  |  |  |
| *Pharmaceuticals* |  |  |  |
| UCB SA | 116 |  | 35348 |
| **Brazil 1.60%** |  |  |  |
| *Banks 0.87%* |  |  |  |
| NU Holdings Ltd. Class A\* | 2175 |  | 38606 |
| *Broadline Retail 0.73%* |  |  |  |
| MercadoLibre, Inc.\* | 15 |  | 32217 |
| *Total Brazil* |  |  | 70823 |
| **Canada 5.06%** |  |  |  |
| *Consumer Staples Distribution & Retail 0.88%* | *Consumer Staples Distribution & Retail 0.88%* | *Consumer Staples Distribution & Retail 0.88%* | *Consumer Staples Distribution & Retail 0.88%* |
| Alimentation Couche-Tard, Inc. | 750 |  | 39019 |
| *Electronic Equipment, Instruments & Components 0.48%* | *Electronic Equipment, Instruments & Components 0.48%* | *Electronic Equipment, Instruments & Components 0.48%* | *Electronic Equipment, Instruments & Components 0.48%* |
| Celestica, Inc.\* | 75 |  | 21074 |
| *Information Technology Services 1.18%* |  |  |  |
| Shopify, Inc. Class A\* | 400 |  | 52492 |
| *Metals & Mining 2.52%* |  |  |  |
| Agnico Eagle Mines Ltd. | 330 |  | 62731 |
| Kinross Gold Corp. | 1555 |  | 48969 |
|  |  |  | 111700 |
| *Total Canada* |  |  | 224285 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Chile 1.00%** | | | |
| *Metals & Mining* |  |  |  |
| Antofagasta PLC | 895 | $| 44349 |
| **China 5.22%** |  |  |  |
| *Broadline Retail 1.44%* |  |  |  |
| Alibaba Group Holding Ltd. | 2997 |  | 63757 |
| *Interactive Media & Services 3.35%* |  |  |  |
| Tencent Holdings Ltd. | 1930 |  | 148343 |
| *Pharmaceuticals 0.43%* |  |  |  |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class H\* | 2200 |  | 19286 |
| *Total China* |  |  | 231386 |
| **Denmark 0.93%** |  |  |  |
| *Pharmaceuticals* |  |  |  |
| Novo Nordisk AS Class B | 695 |  | 41269 |
| **France 7.17%** |  |  |  |
| *Aerospace & Defense 1.70%* |  |  |  |
| Safran SA | 211 |  | 75388 |
| *Biotechnology 0.26%* |  |  |  |
| Abivax SA ADR\* | 104 |  | 11560 |
| *Health Care Equipment & Supplies 1.27%* | *Health Care Equipment & Supplies 1.27%* | *Health Care Equipment & Supplies 1.27%* | *Health Care Equipment & Supplies 1.27%* |
| EssilorLuxottica SA | 184 |  | 56248 |
| *Life Sciences Tools & Services 0.43%* |  |  |  |
| Sartorius Stedim Biotech | 85 |  | 18995 |
| *Personal Care Products 1.48%* |  |  |  |
| L'Oreal SA | 143 |  | 65700 |
| *Textiles, Apparel & Luxury Goods 2.03%* |  |  |  |
| Kering SA | 67 |  | 20916 |
| LVMH Moet Hennessy Louis Vuitton SE | 107 |  | 69058 |
|  |  |  | 89974 |
| *Total France* |  |  | 317865 |

---

<br> 6 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INTERNATIONAL GROWTH FUND *January 31, 2026*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Germany 7.31%** |  |  |  |
| *Aerospace & Defense 2.01%* |  |  |  |
| Rheinmetall AG | 42 | $| 88992 |
| *Capital Markets 0.72%* |  |  |  |
| flatexDEGIRO SE | 658 |  | 32097 |
| *Construction Materials 1.27%* |  |  |  |
| Heidelberg Materials AG | 205 |  | 56143 |
| *Electrical Equipment 2.52%* |  |  |  |
| Siemens Energy AG\* | 655 |  | 111599 |
| *Industrial Conglomerates 0.79%* |  |  |  |
| Siemens AG | 116 |  | 35070 |
| *Total Germany* |  |  | 323901 |
| **Hungary 1.19%** |  |  |  |
| *Banks* |  |  |  |
| OTP Bank Nyrt | 420 |  | 52849 |
| **India 1.59%** |  |  |  |
| *Banks 0.49%* |  |  |  |
| ICICI Bank Ltd. ADR | 746 |  | 21850 |
| *Wireless Telecommunication Services 1.10%* | *Wireless Telecommunication Services 1.10%* | *Wireless Telecommunication Services 1.10%* | *Wireless Telecommunication Services 1.10%* |
| Bharti Airtel Ltd. | 2260 |  | 48470 |
| *Total India* |  |  | 70320 |
| **Italy 1.68%** |  |  |  |
| *Banks 1.10%* |  |  |  |
| UniCredit SpA | 560 |  | 48802 |
| *Passenger Airlines 0.58%* |  |  |  |
| Ryanair Holdings PLC | 750 |  | 25454 |
| *Total Italy* |  |  | 74256 |
| **Japan 12.33%** |  |  |  |
| *Electrical Equipment 1.87%* |  |  |  |
| Fujikura Ltd. | 450 |  | 56559 |
| Furukawa Electric Co. Ltd. | 300 |  | 26133 |
|  |  |  | 82692 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Japan (continued)** |  |  |  |
| *Entertainment 0.87%* |  |  |  |
| Nintendo Co. Ltd. | 622 | $| 38518 |
| *Health Care Equipment & Supplies 0.91%* |  |  |  |
| Hoya Corp. | 240 |  | 40261 |
| *Industrial Conglomerates 2.03%* |  |  |  |
| Hitachi Ltd. | 2599 |  | 90186 |
| *Information Technology Services 0.76%* |  |  |  |
| NEC Corp. | 1000 |  | 33900 |
| *Machinery 2.55%* |  |  |  |
| Ebara Corp. | 1200 |  | 36330 |
| Mitsubishi Heavy Industries Ltd. | 2610 |  | 76848 |
|  |  |  | 113178 |
| *Semiconductors & Semiconductor Equipment 2.65%* | *Semiconductors & Semiconductor Equipment 2.65%* | *Semiconductors & Semiconductor Equipment 2.65%* | *Semiconductors & Semiconductor Equipment 2.65%* |
| Advantest Corp. | 130 |  | 21500 |
| Disco Corp. | 100 |  | 42625 |
| Tokyo Electron Ltd. | 200 |  | 53292 |
|  |  |  | 117417 |
| *Textiles, Apparel & Luxury Goods 0.69%* |  |  |  |
| Asics Corp. | 1267 |  | 30500 |
| *Total Japan* |  |  | 546652 |
| **Netherlands 5.32%** |  |  |  |
| *Biotechnology 0.89%* |  |  |  |
| Argenx SE ADR\* | 47 |  | 39504 |
| *Semiconductors & Semiconductor Equipment 4.43%* | *Semiconductors & Semiconductor Equipment 4.43%* | *Semiconductors & Semiconductor Equipment 4.43%* | *Semiconductors & Semiconductor Equipment 4.43%* |
| ASML Holding NV | 137 |  | 196445 |
| *Total Netherlands* |  |  | 235949 |
| **Peru 1.14%** |  |  |  |
| *Banks* |  |  |  |
| Credicorp Ltd. | 142 |  | 50670 |

---

<br> *See Notes to Financial Statements.* 7

**Schedule of Investments (unaudited)(continued)**

INTERNATIONAL GROWTH FUND *January 31, 2026*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Singapore 1.44%** | | | |
| *Banks 0.85%* |  |  |  |
| DBS Group Holdings Ltd. | 810 | $| 37651 |
| *Broadline Retail 0.59%* |  |  |  |
| Sea Ltd. ADR\* | 225 |  | 26210 |
| *Total Singapore* |  |  | 63861 |
| **South Korea 8.62%** |  |  |  |
| *Aerospace & Defense 1.48%* |  |  |  |
| Hanwha Aerospace Co. Ltd.\* | 73 |  | 65713 |
| *Electrical Equipment 0.53%* |  |  |  |
| LS Electric Co. Ltd.\* | 60 |  | 23382 |
| *Life Sciences Tools & Services 0.49%* |  |  |  |
| Samsung Biologics Co. Ltd.<sup>†</sup>\* | 18 |  | 21753 |
| *Semiconductors & Semiconductor Equipment 4.02%* | *Semiconductors & Semiconductor Equipment 4.02%* | *Semiconductors & Semiconductor Equipment 4.02%* | *Semiconductors & Semiconductor Equipment 4.02%* |
| SK Hynix, Inc. | 285 |  | 177947 |
| *Technology Hardware, Storage & Peripherals 2.10%* | *Technology Hardware, Storage & Peripherals 2.10%* | *Technology Hardware, Storage & Peripherals 2.10%* | *Technology Hardware, Storage & Peripherals 2.10%* |
| Samsung Electronics Co. Ltd. | 844 |  | 93241 |
| *Total South Korea* |  |  | 382036 |
| **Spain 2.06%** |  |  |  |
| *Banks 1.09%* |  |  |  |
| Banco Bilbao Vizcaya Argentaria SA | 1897 |  | 48153 |
| *Specialty Retail 0.97%* |  |  |  |
| Industria de Diseno Textil SA | 660 |  | 42946 |
| *Total Spain* |  |  | 91099 |
| **Sweden 1.13%** |  |  |  |
| *Machinery* |  |  |  |
| Sandvik AB | 1270 |  | 50148 |
| **Switzerland 4.94%** |  |  |  |
| *Building Products 0.52%* |  |  |  |
| Belimo Holding AG Registered Shares | 21 |  | 22969 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Switzerland (continued)** |  |  |  |
| *Electrical Equipment 1.72%* |  |  |  |
| ABB Ltd. Registered Shares | 887 | $| 76369 |
| *Pharmaceuticals 1.39%* |  |  |  |
| Galderma Group AG | 330 |  | 61512 |
| *Textiles, Apparel & Luxury Goods 1.31%* |  |  |  |
| Cie Financiere Richemont SA Class A | 300 |  | 58233 |
| *Total Switzerland* |  |  | 219083 |
| **Taiwan 9.55%** |  |  |  |
| *Electronic Equipment, Instruments & Components 1.95%* | *Electronic Equipment, Instruments & Components 1.95%* | *Electronic Equipment, Instruments & Components 1.95%* | *Electronic Equipment, Instruments & Components 1.95%* |
| Delta Electronics, Inc. | 1800 |  | 68692 |
| Unimicron Technology Corp. | 1500 |  | 17830 |
|  |  |  | 86522 |
| *Semiconductors & Semiconductor Equipment 6.93%* | *Semiconductors & Semiconductor Equipment 6.93%* | *Semiconductors & Semiconductor Equipment 6.93%* | *Semiconductors & Semiconductor Equipment 6.93%* |
| ASE Technology Holding Co. Ltd. | 1750 |  | 16270 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 5265 |  | 291133 |
|  |  |  | 307403 |
| *Technology Hardware, Storage & Peripherals 0.67%* | *Technology Hardware, Storage & Peripherals 0.67%* | *Technology Hardware, Storage & Peripherals 0.67%* | *Technology Hardware, Storage & Peripherals 0.67%* |
| Asia Vital Components Co. Ltd. | 650 |  | 29531 |
| *Total Taiwan* |  |  | 423456 |
| **Thailand 0.46%** |  |  |  |
| *Electronic Equipment, Instruments & Components* | *Electronic Equipment, Instruments & Components* | *Electronic Equipment, Instruments & Components* | *Electronic Equipment, Instruments & Components* |
| Fabrinet\* | 42 |  | 20556 |
| **United Kingdom 5.22%** |  |  |  |
| *Aerospace & Defense 0.65%* |  |  |  |
| Babcock International Group PLC | 1470 |  | 28983 |
| *Capital Markets 0.81%* |  |  |  |
| St. James's Place PLC | 1715 |  | 35818 |

---

<br> 8 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INTERNATIONAL GROWTH FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United Kingdom (continued)** |  |  |
| *Personal Care Products 0.84%* |  |  |
| Unilever PLC | 546 | $37144 |
| *Pharmaceuticals 2.10%* |  |  |
| AstraZeneca PLC | 500 | 93157 |
| *Trading Companies & Distributors 0.82%* | *Trading Companies & Distributors 0.82%* | *Trading Companies & Distributors 0.82%* |
| Diploma PLC | 500 | 36426 |
| *Total United Kingdom* |  | 231528 |
| **United States 9.06%** |  |  |
| *Biotechnology 0.52%* |  |  |
| BeOne Medicines Ltd. Class H\* | 875 | 23076 |
| *Construction Materials 1.10%* |  |  |
| Holcim AG | 472 | 48649 |
| *Electrical Equipment 2.06%* |  |  |
| Schneider Electric SE | 319 | 91458 |
| *Entertainment 0.89%* |  |  |
| Spotify Technology SA\* | 79 | 39528 |
| *Interactive Media & Services 1.73%* |  |  |
| Alphabet, Inc. Class A | 127 | 42926 |
| Meta Platforms, Inc. Class A | 47 | 33675 |
|  |  | 76601 |
| *Pharmaceuticals 1.98%* |  |  |
| Novartis AG Registered Shares | 590 | 87538 |
| *Semiconductors & Semiconductor Equipment 0.78%* | *Semiconductors & Semiconductor Equipment 0.78%* | *Semiconductors & Semiconductor Equipment 0.78%* |
| Broadcom, Inc. | 104 | 34455 |
| *Total United States* |  | 401305 |
| *Total Common Stocks* <br> (cost $2,958,887) |  | 4309223 |
| *Total Investments in Securities 97.22%* <br> (cost $2,958,887) |  | 4309223 |
| *Other Assets and Liabilities – Net 2.78%* |  | 123242 |
| *Net Assets 100.00%* |  | $4432465 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2026, the total value of Rule 144A securities was $54,288, which represents 1.22% of net assets. |
| \* | Non-income producing security. |

---

<br> *See Notes to Financial Statements.* 9

**Schedule of Investments (unaudited)(concluded)**

INTERNATIONAL GROWTH FUND *January 31, 2026*

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $16620 | $– | $16620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 89609 |  | 89609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 35348 |  | 35348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 70823 |  |  | 70823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 224285 |  |  | 224285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile |  | 44349 |  | 44349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China |  | 231386 |  | 231386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark |  | 41269 |  | 41269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | 11560 | 306305 |  | 317865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany |  | 323901 |  | 323901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary |  | 52849 |  | 52849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | 21850 | 48470 |  | 70320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 74256 |  | 74256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan |  | 546652 |  | 546652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | 39504 | 196445 |  | 235949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | 50670 |  |  | 50670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | 26210 | 37651 |  | 63861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 382036 |  | 382036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 91099 |  | 91099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 50148 |  | 50148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 219083 |  | 219083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 423456 |  | 423456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | 20556 |  |  | 20556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  | 231528 |  | 231528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 150584 | 250721 | – | 401305 |
| Total | $616042 | $3693181 | $– | $4309223 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

10 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 101.73%** |  |  |  |  |  |
| **ASSET-BACKED SECURITIES 74.99%** |  |  |  |  |  |
| **Automobiles 10.95%** |  |  |  |  |  |
| Ally Bank Auto Credit-Linked Notes Series 2024-A Class E<sup>†</sup> | 7.917% |  | 5/17/2032 | $1630478 | $1666623 |
| Ally Bank Auto Credit-Linked Notes Series 2024-B Class E<sup>†</sup> | 6.678% |  | 9/15/2032 | 834302 | 842854 |
| Ally Bank Auto Credit-Linked Notes Series 2025-B Class E<sup>†</sup> | 6.164% |  | 9/15/2033 | 5816786 | 5839351 |
| Bayview Opportunity Master Fund VII LLC Series 2024-CAR1 Class B<sup>†</sup> | 4.997%<br> (30 day USD SOFR Average + 1.30% |)<sup>#</sup> | 12/26/2031 | 185225 | 186048 |
| Bayview Opportunity Master Fund VII Trust Series 2024-SN1 Class E<sup>†</sup> | 8.00% |  | 10/15/2029 | 2000000 | 2049164 |
| CAL Receivables LLC Series 2022-1 Class B<sup>†</sup> | 8.057%<br> (30 day USD SOFR Average + 4.35% |)<sup>#</sup> | 10/15/2026 | 557693 | 557667 |
| Carmax Auto Owner Trust Series 2023-1 Class C | 5.19% |  | 1/16/2029 | 2465000 | 2491369 |
| Carmax Auto Owner Trust Series 2023-3 Class C | 5.61% |  | 2/15/2029 | 5000000 | 5097327 |
| Carmax Select Receivables Trust Series 2025-A Class A3 | 4.77% |  | 9/17/2029 | 9600000 | 9683065 |
| Carvana Auto Receivables Trust Series 2023-N4 Class D<sup>†</sup> | 7.22% |  | 2/11/2030 | 2325000 | 2417579 |
| Consumer Portfolio Services Auto Trust Series 2025-A Class C<sup>†</sup> | 5.25% |  | 4/15/2031 | 10375000 | 10506968 |
| Consumer Portfolio Services Auto Trust Series 2025-B Class B<sup>†</sup> | 4.79% |  | 11/15/2029 | 7605000 | 7654591 |
| Consumer Portfolio Services Auto Trust Series 2025-B Class D<sup>†</sup> | 5.56% |  | 7/15/2031 | 6450000 | 6555451 |
| Consumer Portfolio Services Auto Trust Series 2025-D Class C<sup>†</sup> | 4.85% |  | 2/17/2032 | 2615000 | 2638414 |
| Consumer Portfolio Services Auto Trust Series 2025-D Class D<sup>†</sup> | 5.45% |  | 2/17/2032 | 14600000 | 14816512 |
| CPS Auto Receivables Trust Series 2022-A Class E<sup>†</sup> | 4.88% |  | 4/16/2029 | 9180000 | 9191409 |
| CPS Auto Receivables Trust Series 2022-B Class E<sup>†</sup> | 7.14% |  | 10/15/2029 | 4900000 | 4952179 |
| CPS Auto Receivables Trust Series 2022-C Class E<sup>†</sup> | 9.08% |  | 4/15/2030 | 9000000 | 9463311 |
| CPS Auto Receivables Trust Series 2023-A Class E<sup>†</sup> | 10.59% |  | 8/15/2030 | 12484000 | 13609615 |
| CPS Auto Receivables Trust Series 2023-B Class E<sup>†</sup> | 10.72% |  | 11/15/2030 | 13737000 | 15086682 |

---

*See Notes to Financial Statements.* 11

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Automobiles (continued)** |  |  |  |  |
| CPS Auto Receivables Trust Series 2023-C Class D<sup>†</sup> | 6.77% | 10/15/2029 | $4795000 | $4949254 |
| CPS Auto Receivables Trust Series 2023-D Class D<sup>†</sup> | 7.80% | 1/15/2030 | 9237000 | 9654778 |
| CPS Auto Receivables Trust Series 2024-C Class E<sup>†</sup> | 8.04% | 3/15/2032 | 10500000 | 11043955 |
| CPS Auto Receivables Trust Series 2024-D Class C<sup>†</sup> | 4.76% | 1/15/2031 | 6210000 | 6231605 |
| CPS Auto Receivables Trust Series 2025-C Class C<sup>†</sup> | 4.91% | 10/15/2031 | 1195000 | 1205189 |
| Drive Auto Receivables Trust Series 2024-1 Class C | 5.43% | 11/17/2031 | 2330000 | 2361469 |
| Exeter Automobile Receivables Trust Series 2023-1A Class D | 6.69% | 6/15/2029 | 1525192 | 1549946 |
| Exeter Automobile Receivables Trust Series 2023-1A Class E<sup>†</sup> | 12.07% | 9/16/2030 | 6900000 | 7677397 |
| Exeter Automobile Receivables Trust Series 2023-2A Class D | 6.32% | 8/15/2029 | 8742000 | 8908077 |
| Exeter Automobile Receivables Trust Series 2023-3A Class D | 6.68% | 4/16/2029 | 2616000 | 2673337 |
| Exeter Automobile Receivables Trust Series 2023-3A Class E<sup>†</sup> | 9.98% | 1/15/2031 | 6203000 | 6719129 |
| Exeter Automobile Receivables Trust Series 2023-5A Class C | 6.85% | 1/16/2029 | 6515000 | 6603851 |
| Exeter Automobile Receivables Trust Series 2024-1A Class D | 5.84% | 6/17/2030 | 4125000 | 4210724 |
| Exeter Automobile Receivables Trust Series 2024-2A Class E<sup>†</sup> | 7.98% | 10/15/2031 | 12500000 | 13209127 |
| Exeter Automobile Receivables Trust Series 2025-1A Class E<sup>†</sup> | 7.48% | 9/15/2032 | 9750000 | 10157985 |
| Exeter Automobile Receivables Trust Series 2025-3A Class D | 5.57% | 10/15/2031 | 3820000 | 3901142 |
| First Investors Auto Owner Trust Series 2025-1A Class C<sup>†</sup> | 4.75% | 12/15/2031 | 17535000 | 17661718 |
| GLS Auto Receivables Issuer Trust Series 2021-4A Class E<sup>†</sup> | 4.43% | 10/16/2028 | 3000000 | 3003153 |
| GLS Auto Receivables Issuer Trust Series 2023-4A Class D<sup>†</sup> | 7.18% | 8/15/2029 | 2393000 | 2474921 |
| GLS Auto Receivables Issuer Trust Series 2024-2A Class C<sup>†</sup> | 6.03% | 2/15/2030 | 4460000 | 4552471 |
| GLS Auto Receivables Issuer Trust Series 2025-3A Class D<sup>†</sup> | 5.16% | 6/16/2031 | 5150000 | 5176017 |

---

12 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Automobiles (continued)** |  |  |  |  |  |
| GLS Auto Select Receivables Trust Series 2023-1A Class D<sup>†</sup> | 7.93% |  | 7/15/2030 | $2000000 | $2118336 |
| GLS Auto Select Receivables Trust Series 2023-2A Class D<sup>†</sup> | 8.22% |  | 2/18/2031 | 5590000 | 5999327 |
| Huntington Bank Auto Credit-Linked Notes Series 2024-1 Class D<sup>†</sup> | 8.953%<br> (30 day USD SOFR Average + 5.25% |)<sup>#</sup> | 5/20/2032 | 4595684 | 4716762 |
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class B2<sup>†</sup> | 5.053%<br> (30 day USD SOFR Average + 1.35% |)<sup>#</sup> | 10/20/2032 | 6317849 | 6342080 |
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class C<sup>†</sup> | 6.303%<br> (30 day USD SOFR Average + 2.60% |)<sup>#</sup> | 10/20/2032 | 3189350 | 3209593 |
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class D<sup>†</sup> | 7.703%<br> (30 day USD SOFR Average + 4.00% |)<sup>#</sup> | 10/20/2032 | 1960232 | 1985132 |
| Kinetic Advantage Master Owner Trust Series 2025-1A Class A<sup>†</sup> | 5.907%<br> (30 day USD SOFR Average + 2.20% |)<sup>#</sup> | 10/15/2029 | 3485000 | 3515055 |
| LAD Auto Receivables Trust Series 2023-1A Class D<sup>†</sup> | 7.30% |  | 6/17/2030 | 728000 | 737061 |
| LAD Auto Receivables Trust Series 2023-3A Class C<sup>†</sup> | 6.43% |  | 12/15/2028 | 8900000 | 9066949 |
| LAD Auto Receivables Trust Series 2023-3A Class D<sup>†</sup> | 6.92% |  | 12/16/2030 | 1100000 | 1132703 |
| Octane Receivables Trust Series 2023-1A Class C<sup>†</sup> | 6.37% |  | 9/20/2029 | 4000000 | 4057045 |
| Octane Receivables Trust Series 2023-1A Class E<sup>†</sup> | 9.25% |  | 8/20/2030 | 2000000 | 2097728 |
| Prestige Auto Receivables Trust Series 2023-2A Class B<sup>†</sup> | 6.64% |  | 12/15/2027 | 1954272 | 1954627 |
| Prestige Auto Receivables Trust Series 2025-1A Class B<sup>†</sup> | 5.34% |  | 11/15/2028 | 8229000 | 8227480 |
| Red Oak Funding Master Trust Series 2025-1A Class A<sup>†</sup> | 5.703%<br> (30 day USD SOFR Average + 2.00% |)<sup>#</sup> | 12/20/2030 | 13335000 | 13373533 |
| Santander Bank Auto Credit-Linked Notes Series 2022-A Class E<sup>†</sup> | 12.662% |  | 5/15/2032 | 989237 | 992272 |
| Santander Bank Auto Credit-Linked Notes Series 2022-B Class G<sup>†</sup> | 14.552% |  | 8/16/2032 | 745992 | 754163 |
| Santander Bank Auto Credit-Linked Notes Series 2022-C Class F<sup>†</sup> | 14.592% |  | 12/15/2032 | 1738411 | 1766630 |

---

*See Notes to Financial Statements.* 13

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Automobiles (continued)** |  |  |  |  |
| Santander Drive Auto Receivables Trust Series 2023-4 Class C | 6.04% | 12/15/2031 | $2860000 | $2940413 |
| Santander Drive Auto Receivables Trust Series 2025-4 Class C | 4.52% | 1/15/2032 | 10105000 | 10158795 |
| SBNA Auto Receivables Trust Series 2024-A Class C<sup>†</sup> | 5.59% | 1/15/2030 | 6030000 | 6144317 |
| SBNA Auto Receivables Trust Series 2024-A Class E<sup>†</sup> | 8.00% | 4/15/2032 | 4860000 | 5043379 |
| SBNA Auto Receivables Trust Series 2025-SF1 Class D<sup>†</sup> | 5.34% | 9/15/2031 | 9250000 | 9303051 |
| SBNA Auto Receivables Trust Series 2025-SF1 Class E<sup>†</sup> | 6.74% | 10/15/2031 | 2750000 | 2773719 |
| Securitized Term Auto Receivables Trust Series 2025-A Class D<sup>†</sup> | 6.746% | 7/25/2031 | 2862268 | 2927796 |
| U.S. Bank NA Series 2023-1 Class C<sup>†</sup> | 9.785% | 8/25/2032 | 778455 | 794591 |
| VStrong Auto Receivables Trust Series 2023-A Class D<sup>†</sup> | 9.31% | 2/15/2030 | 3255000 | 3563852 |
| VStrong Auto Receivables Trust Series 2023-A Class E<sup>†</sup> | 9.99% | 12/16/2030 | 1000000 | 1102377 |
| VStrong Auto Receivables Trust Series 2024-A Class C<sup>†</sup> | 6.44% | 7/15/2030 | 3010000 | 3107780 |
| VStrong Auto Receivables Trust Series 2024-A Class D<sup>†</sup> | 7.29% | 7/15/2030 | 3000000 | 3155227 |
| Westlake Automobile Receivables Trust Series 2023-3A Class D<sup>†</sup> | 6.47% | 3/15/2029 | 1745000 | 1791467 |
| Westlake Automobile Receivables Trust Series 2024-1A Class C<sup>†</sup> | 5.65% | 2/15/2029 | 4750000 | 4808368 |
| Westlake Automobile Receivables Trust Series 2024-3A Class C<sup>†</sup> | 4.92% | 11/15/2029 | 3555000 | 3588645 |
| Westlake Automobile Receivables Trust Series 2026-1A Class C<sup>†</sup> | 4.37% | 6/16/2031 | 10000000 | 10013325 |
| Westlake Automobile Receivables Trust Series 2026-1A Class D<sup>†</sup> | 4.75% | 7/15/2031 | 10000000 | 10023316 |
| *Total* |  |  |  | 412518318 |
| **Credit Card 1.28%** |  |  |  |  |
| Capital One Multi-Asset Execution Trust Series 2025-A3 Class A | 4.65% | 10/15/2037 | 2866000 | 2860918 |
| Continental Finance Credit Card ABS Master Trust Series 2024-A Class A<sup>†</sup> | 5.78% | 12/15/2032 | 13951000 | 14126180 |
| Fortiva Retail Prime Masters Notes Business Trust Series 2025-A Class A<sup>†</sup> | 6.60% | 9/17/2029 | 4600000 | 4624380 <sup>(a)</sup> |

---

14 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity <br> Date** | **Principal Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Credit Card (continued)** |  |  |  |  |  |
| Mercury Financial Credit Card Master Trust Series 2024-2A Class A<sup>†</sup> | 6.56% |  | 7/20/2029 | $10190000 | $10226629 |
| Mercury Financial Credit Card Master Trust Series 2025-1A Class B<sup>†</sup> | 6.16% |  | 12/22/2031 | 8950000 | 8817762 |
| Perimeter Master Note Business Trust Series 2025-1A Class A<sup>†</sup> | 5.58% |  | 12/16/2030 | 7500000 | 7522514 |
| *Total* |  |  |  |  | 48178383 |
| **Other 62.76%** |  |  |  |  |  |
| 1988 CLO 1 Ltd. Series 2022-1A Class AR<sup>†</sup> | 5.032%<br> (3 mo. USD Term SOFR + 1.36% |)<sup>#</sup> | 10/15/2039 | 8270000 | 8286747 |
| 1988 CLO 4 Ltd. Series 2024-4A Class D<sup>†</sup> | 7.922%<br> (3 mo. USD Term SOFR + 4.25% |)<sup>#</sup> | 4/15/2037 | 2560000 | 2563574 |
| 1988 CLO 5 Ltd. Series 2024-5A Class A1<sup>†</sup> | 5.212%<br> (3 mo. USD Term SOFR + 1.54% |)<sup>#</sup> | 7/15/2037 | 1000000 | 1003376 |
| 37 Capital CLO 3 Ltd. Series 2023-1A Class A1R<sup>†</sup> | 5.172%<br> (3 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 7/15/2038 | 3250000 | 3268486 |
| 37 Capital CLO 3 Ltd. Series 2023-1A Class ER<sup>†</sup> | 11.522%<br> (3 mo. USD Term SOFR + 7.85% |)<sup>#</sup> | 7/15/2038 | 2000000 | 1997972 |
| 720 East CLO Ltd. Series 2022-1A Class ER<sup>†</sup> | 9.568%<br> (3 mo. USD Term SOFR + 5.90% |)<sup>#</sup> | 1/20/2038 | 2000000 | 2003746 |
| AB BSL CLO 6 Ltd. Series 2025-6A Class D1<sup>†</sup> | 7.118%<br> (3 mo. USD Term SOFR + 3.45% |)<sup>#</sup> | 7/20/2037 | 6600000 | 6638214 |
| AB BSL CLO 6 Ltd. Series 2025-6A Class E<sup>†</sup> | 9.668%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 7/20/2037 | 6000000 | 6069330 |
| Abry Liquid Credit CLO Ltd. Series 2025-1A Class C<sup>†</sup> | 5.923%<br> (3 mo. USD Term SOFR + 2.10% |)<sup>#</sup> | 10/20/2038 | 1500000 | 1505058 |
| Affirm Asset Securitization Trust Series 2024-A Class 1D<sup>†</sup> | 6.89% |  | 2/15/2029 | 5250000 | 5260281 |
| Affirm Asset Securitization Trust Series 2024-A Class 1E<sup>†</sup> | 9.17% |  | 2/15/2029 | 1530000 | 1534793 |
| Affirm Asset Securitization Trust Series 2024-A Class D<sup>†</sup> | 6.89% |  | 2/15/2029 | 1650000 | 1653231 |
| Affirm Asset Securitization Trust Series 2024-A Class E<sup>†</sup> | 9.17% |  | 2/15/2029 | 2310000 | 2317237 |
| Affirm Asset Securitization Trust Series 2024-B Class B<sup>†</sup> | 4.88% |  | 9/15/2029 | 6075000 | 6090493 |
| Affirm Master Trust Series 2025-3A Class A<sup>†</sup> | 4.45% |  | 10/16/2034 | 10525000 | 10553229 |
| AGL CLO 24 Ltd. Series 2023-24A Class A2R<sup>†</sup> | 5.381%<br> (3 mo. USD Term SOFR + 1.71% |)<sup>#</sup> | 3/31/2038 | 6000000 | 6016488 |

---

*See Notes to Financial Statements.* 15

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| AGL CLO 35 Ltd. Series 2024-35A Class A1<sup>†</sup> | 5.01%<br> (3 mo. USD Term SOFR + 1.34% |)<sup>#</sup> | 1/21/2038 | $1500000 | $1503740 |
| Allegro CLO V-S Ltd. Series 2024-2A Class CT<sup>†</sup> | 6.118%<br> (3 mo. USD Term SOFR + 2.45% |)<sup>#</sup> | 7/24/2037 | 3000000 | 3015099 |
| AMMC CLO 23 Ltd. Series 2020-23A Class AR3<sup>†</sup> | 5.058%<br> (3 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 7/17/2038 | 16300000 | 16371590 |
| AMMC CLO 25 Ltd. Series 2022-25A Class D1R2<sup>†</sup> | 6.672%<br> (3 mo. USD Term SOFR + 3.00% |)<sup>#</sup> | 10/15/2038 | 4560000 | 4581655 |
| AMMC CLO 28 Ltd. Series 2024-28A Class D1<sup>†</sup> | 7.168%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 7/20/2037 | 6750000 | 6809751 |
| AMMC CLO 30 Ltd. Series 2024-30A Class A1<sup>†</sup> | 5.352%<br> (3 mo. USD Term SOFR + 1.68% |)<sup>#</sup> | 1/15/2037 | 1050000 | 1050053 |
| AMMC CLO 30 Ltd. Series 2024-30A Class C<sup>†</sup> | 6.322%<br> (3 mo. USD Term SOFR + 2.65% |)<sup>#</sup> | 1/15/2037 | 3250000 | 3250163 |
| AMMC CLO 30 Ltd. Series 2024-30A Class D<sup>†</sup> | 8.172%<br> (3 mo. USD Term SOFR + 4.50% |)<sup>#</sup> | 1/15/2037 | 3080000 | 3080154 |
| AMMC CLO 30 Ltd. Series 2024-30A Class D1R<sup>†(b)</sup> |  | <sup>(c)</sup> | 4/15/2039 | 9420000 | 9429420 |
| AMMC CLO 31 Ltd. Series 2025-31A Class D<sup>†</sup> | 6.618%<br> (3 mo. USD Term SOFR + 2.95% |)<sup>#</sup> | 2/20/2038 | 3500000 | 3530800 |
| Anchorage Capital CLO 29 Ltd. Series 2024-29A Class D1<sup>†</sup> | 7.668%<br> (3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 7/20/2037 | 1000000 | 1001494 |
| Anchorage Capital CLO 32 Ltd. Series 2025-32A Class D<sup>†</sup> | 7.622%<br> (3 mo. USD Term SOFR + 3.95% |)<sup>#</sup> | 7/15/2037 | 4215000 | 4254718 |
| Anthelion CLO Ltd. Series 2025-1A Class D1<sup>†</sup> | 7.32%<br> (3 mo. USD Term SOFR + 3.65% |)<sup>#</sup> | 7/20/2036 | 3060000 | 3071836 |
| Apex Credit CLO Ltd. Series 2020-1A Class A1R3<sup>†(b)</sup> |  | <sup>(c)</sup> | 4/20/2035 | 5400000 | 5401350 |
| Apidos CLO XLVIII Ltd. Series 2024-48A Class E<sup>†</sup> | 9.418%<br> (3 mo. USD Term SOFR + 5.75% |)<sup>#</sup> | 7/25/2037 | 150000 | 151390 |
| Apidos CLO XXIII Series 2015-23A Class ARR<sup>†</sup> | 4.722%<br> (3 mo. USD Term SOFR + 1.05% |)<sup>#</sup> | 4/15/2033 | 2199537 | 2202973 |
| Apidos CLO XXXIX Ltd. Series 2022-39A Class A1R<sup>†</sup> | 4.90%<br> (3 mo. USD Term SOFR + 1.23% |)<sup>#</sup> | 10/21/2038 | 8650000 | 8686209 |
| ARES LII CLO Ltd. Series 2019-52A Class DRR<sup>†</sup> | 6.169%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 4/22/2031 | 3075000 | 3079609 |
| ARES Loan Funding IV Ltd. Series 2023-ALF4A Class ER<sup>†</sup> | 9.672%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 10/15/2038 | 1730000 | 1687445 |

---

16 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| ARES LV CLO Ltd. Series 2020-55A Class ER2<sup>†</sup> | 10.172%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 10/15/2037 | $750000 | $757403 |
| ARES LX CLO Ltd. Series 2021-60A Class AR<sup>†</sup> | 4.848%<br> (3 mo. USD Term SOFR + 1.18% |)<sup>#</sup> | 7/18/2034 | 2000000 | 2003668 |
| ARES LX CLO Ltd. Series 2021-60A Class B<sup>†</sup> | 5.579%<br> (3 mo. USD Term SOFR + 1.91% |)<sup>#</sup> | 7/18/2034 | 3250000 | 3258037 |
| ARES LXIII CLO Ltd. Series 2022-63A Class A1R<sup>†</sup> | 4.982%<br> (3 mo. USD Term SOFR + 1.31% |)<sup>#</sup> | 10/15/2038 | 10000000 | 10067010 |
| ARES LXVIII CLO Ltd. Series 2023-68A Class ER<sup>†</sup> | 9.668%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 7/25/2037 | 2160000 | 2180974 |
| ARES XLIV CLO Ltd. Series 2017-44A Class CRR<sup>†</sup> | 6.422%<br> (3 mo. USD Term SOFR + 2.75% |)<sup>#</sup> | 4/15/2034 | 5350000 | 5375760 |
| Arini U.S. CLO I Ltd. Series 1A Class B<sup>†</sup> | 5.922%<br> (3 mo. USD Term SOFR + 2.25% |)<sup>#</sup> | 4/15/2038 | 8550000 | 8676164 |
| Arini U.S. CLO I Ltd. Series 1A Class C<sup>†</sup> | 6.572%<br> (3 mo. USD Term SOFR + 2.90% |)<sup>#</sup> | 4/15/2038 | 9300000 | 9428489 |
| Arini U.S. CLO III Ltd. Series 3A Class C<sup>†</sup> | 5.82%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 1/15/2039 | 2200000 | 2210402 |
| Arini U.S. CLO III Ltd. Series 3A Class D<sup>†</sup> | 6.82%<br> (3 mo. USD Term SOFR + 2.90% |)<sup>#</sup> | 1/15/2039 | 4120000 | 4168220 |
| ASP WHCO Partner 2 LP | 6.783% | <sup>#(d)</sup> | 3/29/2029 | 15000000 | 15002487 <sup>(a)</sup> |
| Atlantic Avenue Ltd. Series 2023-1A Class AR<sup>†</sup> | 5.032%<br> (3 mo. USD Term SOFR + 1.36% |)<sup>#</sup> | 1/15/2039 | 3000000 | 3009792 |
| Atlantic Avenue Ltd. Series 2023-1A Class D1R<sup>†</sup> | 6.972%<br> (3 mo. USD Term SOFR + 3.30% |)<sup>#</sup> | 1/15/2039 | 4520000 | 4583727 |
| Atlantic Avenue Ltd. Series 2024-2A Class D<sup>†</sup> | 8.418%<br> (3 mo. USD Term SOFR + 4.75% |)<sup>#</sup> | 4/20/2037 | 1000000 | 1001419 |
| Atlantic Avenue Ltd. Series 2024-3A Class C<sup>†</sup> | 5.868%<br> (3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 1/20/2035 | 6500000 | 6522633 |
| Atlantic Avenue Ltd. Series 2025-4A Class D<sup>†</sup> | 6.922%<br> (3 mo. USD Term SOFR + 3.15% |)<sup>#</sup> | 10/15/2038 | 11000000 | 11126225 |
| Atlantic Avenue Ltd. Series 2025-4A Class E<sup>†</sup> | 9.922%<br> (3 mo. USD Term SOFR + 6.15% |)<sup>#</sup> | 10/15/2038 | 4000000 | 4034680 |
| Atlas Senior Loan Fund XXII Ltd. Series 2023-22A Class A1<sup>†</sup> | 5.648%<br> (3 mo. USD Term SOFR + 1.98% |)<sup>#</sup> | 1/20/2036 | 2000000 | 2006532 |
| Atlas Senior Loan Fund XXII Ltd. Series 2023-22A Class D<sup>†</sup> | 9.418%<br> (3 mo. USD Term SOFR + 5.75% |)<sup>#</sup> | 1/20/2036 | 5000000 | 5012565 |

---

*See Notes to Financial Statements.* 17

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Atlas Senior Loan Fund XXIV Ltd. Series 2024-24A Class D1<sup>†</sup> | 7.268%<br> (3 mo. USD Term SOFR + 3.60% |)<sup>#</sup> | 1/20/2038 | $1450000 | $1465102 |
| Atlas Senior Loan Fund XXV Ltd. Series 2025-25A Class SUB<sup>†</sup> | Zero coupon | <sup>#(d)</sup> | 7/20/2038 | 3430000 | 1985802 |
| Atlas Senior Loan Fund XXVII Ltd. Series 2026-27A Class D1<sup>†(b)</sup> |  | <sup>(c)</sup> | 1/22/2039 | 8975000 | 8990240 |
| Bain Capital Credit CLO Ltd. Series 2019-1A Class AR3<sup>†(b)</sup> |  | <sup>(c)</sup> | 4/19/2034 | 6370000 | 6373510 |
| Bain Capital Credit CLO Ltd. Series 2019-2A Class AR3<sup>†</sup> | 4.588%<br> (3 mo. USD Term SOFR + 0.92% |)<sup>#</sup> | 10/17/2032 | 18816751 | 18836000 |
| Bain Capital Credit CLO Ltd. Series 2020-1A Class A1RR<sup>†</sup> | 4.658%<br> (3 mo. USD Term SOFR + 0.99% |)<sup>#</sup> | 4/18/2033 | 8894500 | 8900122 |
| Bain Capital Credit CLO Ltd. Series 2021-1A Class AR<sup>†</sup> | 4.608%<br> (3 mo. USD Term SOFR + 0.94% |)<sup>#</sup> | 4/18/2034 | 10500000 | 10503454 |
| Bain Capital Credit CLO Ltd. Series 2021-3A Class BR<sup>†</sup> | 5.218%<br> (3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 7/24/2034 | 4500000 | 4503294 |
| Bain Capital Credit CLO Ltd. Series 2024-5A Class E<sup>†</sup> | 9.82%<br> (3 mo. USD Term SOFR + 6.15% |)<sup>#</sup> | 10/21/2037 | 500000 | 509711 |
| Balboa Bay Loan Funding Ltd. Series 2022-1A Class AR<sup>†</sup> | 4.858%<br> (3 mo. USD Term SOFR + 1.19% |)<sup>#</sup> | 4/20/2037 | 19400000 | 19410922 |
| Ballyrock CLO 20 Ltd. Series 2022-20A Class A1A3<sup>†(b)</sup> |  | <sup>(c)</sup> | 10/15/2036 | 3900000 | 3900975 |
| Ballyrock CLO 21 Ltd. Series 2022-21A Class C1R<sup>†</sup> | 6.818%<br> (3 mo. USD Term SOFR + 3.15% |)<sup>#</sup> | 10/20/2037 | 1030000 | 1038056 |
| Ballyrock CLO 21 Ltd. Series 2022-21A Class DR<sup>†</sup> | 9.668%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 10/20/2037 | 2500000 | 2486708 |
| Ballyrock CLO 22 Ltd. Series 2024-22A Class B<sup>†</sup> | 6.022%<br> (3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 4/15/2037 | 2000000 | 2006206 |
| Barings CLO Ltd. Series 2021-3A Class AR<sup>†</sup> | 4.798%<br> (3 mo. USD Term SOFR + 1.13% |)<sup>#</sup> | 1/18/2035 | 20000000 | 20033640 |
| Barings CLO Ltd. Series 2023-1A Class A2R<sup>†</sup> | 5.368%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 4/20/2038 | 1000000 | 1003945 |
| Barings CLO Ltd. Series 2024-1A Class D<sup>†</sup> | 7.668%<br> (3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 1/20/2037 | 2500000 | 2503568 |

---

18 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Barrow Hanley CLO I Ltd. Series 2023-1A Class A2R<sup>†</sup> | 5.208%<br> (3 mo. USD Term SOFR + 1.54% |)<sup>#</sup> | 1/20/2038 | $6200000 | $6210323 |
| Barrow Hanley CLO I Ltd. Series 2023-1A Class D1R<sup>†</sup> | 6.768%<br> (3 mo. USD Term SOFR + 3.10% |)<sup>#</sup> | 1/20/2038 | 3500000 | 3532001 |
| Barrow Hanley CLO II Ltd. Series 2023-2A Class D1RR<sup>†</sup> | 6.718%<br> (3 mo. USD Term SOFR + 3.05% |)<sup>#</sup> | 3/31/2038 | 4000000 | 4054928 |
| Barrow Hanley CLO III Ltd. Series 2024-3A Class D<sup>†</sup> | 7.818%<br> (3 mo. USD Term SOFR + 4.15% |)<sup>#</sup> | 4/20/2037 | 2050000 | 2052923 |
| Battalion CLO 18 Ltd. Series 2024-25A Class B<sup>†</sup> | 5.868%<br> (3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 3/13/2037 | 8955000 | 8972910 |
| Battalion CLO IX Ltd. Series 2015-9A Class BRR<sup>†</sup> | 5.272%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 7/15/2031 | 13280000 | 13294156 |
| Battalion CLO X Ltd. Series 2016-10A Class A1R3<sup>†</sup> | 4.808%<br> (3 mo. USD Term SOFR + 1.14% |)<sup>#</sup> | 1/24/2035 | 19753931 | 19790930 |
| Battalion CLO XXVIII Ltd. Series 2025-28A Class D1<sup>†</sup> | 6.718%<br> (3 mo. USD Term SOFR + 3.05% |)<sup>#</sup> | 1/20/2038 | 5000000 | 5043350 |
| Battery Park CLO II Ltd. Series 2022-1A Class CR<sup>†</sup> | 6.018%<br> (3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 10/20/2037 | 1250000 | 1254128 |
| BDS LLC Series 2025-FL15 Class A<sup>†</sup> | 5.075%<br> (1 mo. USD Term SOFR + 1.40% |)<sup>#</sup> | 3/19/2043 | 5000000 | 5012247 |
| BDS LLC Series 2025-FL16 Class A<sup>†</sup> | 5.131%<br> (1 mo. USD Term SOFR + 1.40% |)<sup>#</sup> | 7/19/2043 | 9360000 | 9380494 |
| Benefit Street Partners CLO 42 Ltd. Series 2025-42A Class A<sup>†</sup> | 4.968%<br> (3 mo. USD Term SOFR + 1.30% |)<sup>#</sup> | 10/25/2038 | 8000000 | 8049256 |
| Benefit Street Partners CLO X Ltd. Series 2016-10A Class A1R3<sup>†</sup> | 4.968%<br> (3 mo. USD Term SOFR + 1.30% |)<sup>#</sup> | 7/20/2038 | 11520000 | 11578717 |
| Benefit Street Partners CLO XX Ltd. Series 2020-20A Class ARR<sup>†</sup> | 4.962%<br> (3 mo. USD Term SOFR + 1.29% |)<sup>#</sup> | 7/15/2037 | 19160000 | 19265208 |
| Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A Class AR<sup>†</sup> | 5.018%<br> (3 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 10/20/2037 | 6500000 | 6528470 |

---

*See Notes to Financial Statements.* 19

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A Class CR<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 10/20/2037 | $1500000 | $1505946 |
| Benefit Street Partners CLO XXXIII Ltd. Series 2023-33A Class D<sup>†</sup> | 7.918%<br> (3 mo. USD Term SOFR + 4.25% |)<sup>#</sup> | 1/25/2036 | 7750000 | 7750387 |
| Benefit Street Partners CLO XXXIX Ltd. Series 2025-39A Class SUB<sup>†</sup> | Zero coupon | <sup>#(d)</sup> | 4/15/2038 | 4000000 | 3229784 <sup>(a)</sup> |
| Benefit Street Partners CLO XXXVII Ltd. Series 2024-37A Class A<sup>†</sup> | 5.018%<br> (3 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 1/25/2038 | 2000000 | 2009334 |
| Birch Grove CLO 11 Ltd. Series 2024-11A Class E<sup>†</sup> | 9.469%<br> (3 mo. USD Term SOFR + 5.80% |)<sup>#</sup> | 1/22/2038 | 650000 | 660113 |
| Birch Grove CLO 14 Ltd. Series 2025-14A Class D2<sup>†</sup> | 8.419%<br> (3 mo. USD Term SOFR + 4.75% |)<sup>#</sup> | 7/22/2037 | 3550000 | 3567441 |
| Birch Grove CLO 14 Ltd. Series 2025-14A Class E<sup>†</sup> | 10.319%<br> (3 mo. USD Term SOFR + 6.65% |)<sup>#</sup> | 7/22/2037 | 5000000 | 5061225 |
| Birch Grove CLO 4 Ltd. Series 2022-4A Class A1R<sup>†</sup> | 5.152%<br> (3 mo. USD Term SOFR + 1.48% |)<sup>#</sup> | 7/15/2037 | 160000 | 160349 |
| Birch Grove CLO 5 Ltd. Series 2023-5A Class D1R<sup>†</sup> | 7.018%<br> (3 mo. USD Term SOFR + 3.35% |)<sup>#</sup> | 10/20/2037 | 750000 | 755000 |
| Birch Grove CLO 6 Ltd. Series 2023-6A Class A1R<sup>†</sup> | 5.048%<br> (3 mo. USD Term SOFR + 1.38% |)<sup>#</sup> | 7/20/2037 | 10000000 | 10044860 |
| Birch Grove CLO Ltd. Series 19A Class A1RR<sup>†</sup> | 5.258%<br> (3 mo. USD Term SOFR + 1.59% |)<sup>#</sup> | 7/17/2037 | 5520000 | 5546220 |
| Black Diamond CLO Ltd. Series 2022-1A Class B<sup>†</sup> | 6.518%<br> (3 mo. USD Term SOFR + 2.85% |)<sup>#</sup> | 10/25/2035 | 2000000 | 2009892 |
| Black Diamond CLO Ltd. Series 2024-1A Class B<sup>†</sup> | 5.688%<br> (3 mo. USD Term SOFR + 2.02% |)<sup>#</sup> | 10/25/2037 | 8000000 | 8025496 |
| Black Diamond CLO Ltd. Series 2025-1A Class B<sup>†</sup> | 5.822%<br> (3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 7/15/2038 | 7000000 | 7043596 |
| Black Diamond CLO Ltd. Series 2025-1A Class C1<sup>†</sup> | 6.072%<br> (3 mo. USD Term SOFR + 2.40% |)<sup>#</sup> | 7/15/2038 | 10000000 | 10046520 |

---

20 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Brant Point CLO Ltd. Series 2023-1A Class D1R<sup>†</sup> | 7.168%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 7/26/2038 | $1200000 | $1216873 |
| Brant Point CLO Ltd. Series 2023-1A Class ER<sup>†</sup> | 10.768%<br> (3 mo. USD Term SOFR + 7.10% |)<sup>#</sup> | 7/26/2038 | 3730000 | 3871546 |
| Brant Point CLO Ltd. Series 2023-2A Class D1R<sup>†</sup> | 6.421%<br> (3 mo. USD Term SOFR + 2.75% |)<sup>#</sup> | 1/29/2039 | 5450000 | 5459254 |
| Brant Point CLO Ltd. Series 2024-3A Class C<sup>†</sup> | 6.439%<br> (3 mo. USD Term SOFR + 2.55% |)<sup>#</sup> | 2/20/2037 | 2000000 | 2005028 |
| Brant Point CLO Ltd. Series 2024-4A Class C<sup>†</sup> | 6.118%<br> (3 mo. USD Term SOFR + 2.45% |)<sup>#</sup> | 7/20/2037 | 1300000 | 1306128 |
| Brant Point CLO Ltd. Series 2024-6A Class D1<sup>†</sup> | 6.872%<br> (3 mo. USD Term SOFR + 3.20% |)<sup>#</sup> | 1/15/2038 | 5000000 | 5043640 |
| Brant Point CLO Ltd. Series 2025-7A Class D1<sup>†</sup> | 6.868%<br> (3 mo. USD Term SOFR + 3.20% |)<sup>#</sup> | 7/25/2038 | 6000000 | 6082362 |
| Bridge Street CLO IV Ltd. Series 2024-1A Class E<sup>†</sup> | 10.658%<br> (3 mo. USD Term SOFR + 6.99% |)<sup>#</sup> | 4/20/2037 | 3000000 | 3017631 |
| Bridge Street CLO Ltd. Series 2025-1A Class E<sup>†</sup> | 9.018%<br> (3 mo. USD Term SOFR + 5.35% |)<sup>#</sup> | 4/20/2038 | 2730000 | 2769904 |
| Bryant Park Funding Ltd. Series 2023-20A Class BR<sup>†</sup> | 5.572%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 4/15/2038 | 8450000 | 8484611 |
| Bryant Park Funding Ltd. Series 2023-20A Class ER<sup>†</sup> | 10.422%<br> (3 mo. USD Term SOFR + 6.75% |)<sup>#</sup> | 4/15/2038 | 7750000 | 7916276 |
| Bryant Park Funding Ltd. Series 2024-22A Class E<sup>†</sup> | 10.802%<br> (3 mo. USD Term SOFR + 7.13% |)<sup>#</sup> | 4/15/2037 | 2500000 | 2534753 |
| Bryant Park Funding Ltd. Series 2024-23A Class D1<sup>†</sup> | 7.702%<br> (3 mo. USD Term SOFR + 3.85% |)<sup>#</sup> | 5/15/2037 | 400000 | 400589 |
| Bryant Park Funding Ltd. Series 2024-25A Class A2<sup>†</sup> | 5.268%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 1/18/2038 | 3000000 | 3003897 |
| Cajun Global LLC Series 2025-2A Class A2<sup>†</sup> | 5.912% |  | 11/20/2055 | 6925000 | 6954377 |
| Canyon CLO Ltd. Series 2021-4A Class CR<sup>†</sup> | 5.472%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 10/15/2034 | 7000000 | 7016072 |
| Canyon CLO Ltd. Series 2023-2A Class B<sup>†</sup> | 5.722%<br> (3 mo. USD Term SOFR + 2.05% |)<sup>#</sup> | 5/15/2037 | 540000 | 541381 |
| Canyon CLO Ltd. Series 2024-2A Class B<sup>†</sup> | 5.472%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 1/15/2038 | 3000000 | 3013155 |

---

See Notes to Financial Statements. 21

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Capital Four U.S. CLO II Ltd. Series 2022-1A Class C1R<sup>†</sup> | 6.918%<br> (3 mo. USD Term SOFR + 3.25% |)<sup>#</sup> | 1/20/2037 | $2500000 | $2515080 |
| Captree Park CLO Ltd. Series 2024-1A Class C<sup>†</sup> | 5.968%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 7/20/2037 | 3450000 | 3467519 |
| Carlyle Global Market Strategies CLO Ltd. Series 2015-4A Class A2R3<sup>†</sup> | 4.918%<br> (3 mo. USD Term SOFR + 1.25% |)<sup>#</sup> | 7/20/2032 | 10980000 | 10984634 |
| Carlyle Global Market Strategies CLO Ltd. Series 2015-4A Class BR3<sup>†</sup> | 5.118%<br> (3 mo. USD Term SOFR + 1.45% |)<sup>#</sup> | 7/20/2032 | 5850000 | 5857201 |
| Carlyle Global Market Strategies CLO Ltd. Series 2015-5A Class A2R4<sup>†</sup> | 4.868%<br> (3 mo. USD Term SOFR + 1.20% |)<sup>#</sup> | 1/20/2032 | 10365000 | 10373230 |
| Carlyle U.S. CLO Ltd. Series 2019-3A Class ER3<sup>†(b)</sup> |  | <sup>(c)</sup> | 4/20/2039 | 2650000 | 2656625 |
| Carlyle U.S. CLO Ltd. Series 2021-10A Class A2R<sup>†</sup> | 5.238%<br> (3 mo. USD Term SOFR + 1.57% |)<sup>#</sup> | 1/20/2038 | 5000000 | 5018340 |
| Carlyle U.S. CLO Ltd. Series 2021-4A Class A2<sup>†</sup> | 5.329%<br> (3 mo. USD Term SOFR + 1.66% |)<sup>#</sup> | 4/20/2034 | 3700000 | 3705554 |
| Carlyle U.S. CLO Ltd. Series 2023-3A Class ER<sup>†</sup> | 9.072%<br> (3 mo. USD Term SOFR + 5.40% |)<sup>#</sup> | 10/15/2040 | 7080000 | 7202293 |
| Carlyle U.S. CLO Ltd. Series 2024-1A Class E<sup>†</sup> | 10.592%<br> (3 mo. USD Term SOFR + 6.92% |)<sup>#</sup> | 4/15/2037 | 1200000 | 1214250 |
| CarVal CLO III Ltd. Series 2019-2A Class CR2<sup>†</sup> | 5.268%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 7/20/2032 | 6000000 | 5978088 |
| Cathedral Lake VI Ltd. Series 2021-6A Class BR<sup>†</sup> | 5.518%<br> (3 mo. USD Term SOFR + 1.85% |)<sup>#</sup> | 4/25/2034 | 6000000 | 6005952 |
| CBAM Ltd. Series 2018-5A Class CR<sup>†</sup> | 6.112%<br> (3 mo. USD Term SOFR + 2.00% |)<sup>#</sup> | 10/17/2038 | 7000000 | 7042525 |
| CBAMR Ltd. Series 2018-8A Class DR<sup>†</sup> | 7.672%<br> (3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 7/15/2037 | 9750000 | 9808003 |
| CBAMR Ltd. Series 2019-9A Class DR<sup>†</sup> | 7.822%<br> (3 mo. USD Term SOFR + 4.15% |)<sup>#</sup> | 7/15/2037 | 11000000 | 11078001 |
| Cherry Securitization Trust Series 2024-1A Class A<sup>†</sup> | 5.70% |  | 4/15/2032 | 3950000 | 3983921 |
| Cherry Securitization Trust Series 2025-1A Class A<sup>†</sup> | 6.13% |  | 11/15/2032 | 8375000 | 8509404 |
| CIFC Funding Ltd. Series 2013-3RA Class A2R<sup>†</sup> | 4.868%<br> (3 mo. USD Term SOFR + 1.20% |)<sup>#</sup> | 4/24/2031 | 8000000 | 8003480 |

---

22 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| CIFC Funding Ltd. Series 2014-5A Class CR3<sup>†</sup> | 5.818%<br> (3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 7/17/2037 | $1000000 | $1003213 |
| CIFC Funding Ltd. Series 2022-5A Class ER<sup>†</sup> | 10.021%<br> (3 mo. USD Term SOFR + 6.35% |)<sup>#</sup> | 1/16/2037 | 2000000 | 2012798 |
| CIFC Funding Ltd. Series 2022-6A Class BR<sup>†</sup> | 5.421%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 10/16/2038 | 2000000 | 2008952 |
| CIFC Funding Ltd. Series 2023-3A Class C<sup>†</sup> | 6.318%<br> (3 mo. USD Term SOFR + 2.65% |)<sup>#</sup> | 1/20/2037 | 625000 | 625031 |
| CIFC Funding Ltd. Series 2023-3A Class D<sup>†</sup> | 7.918%<br> (3 mo. USD Term SOFR + 4.25% |)<sup>#</sup> | 1/20/2037 | 1000000 | 1005200 |
| CIFC Funding Ltd. Series 2023-3A Class D1R<sup>†(b)</sup> |  | <sup>(c)</sup> | 1/20/2039 | 3210000 | 3226641 |
| CIFC Funding Ltd. Series 2024-3A Class A1<sup>†</sup> | 5.15%<br> (3 mo. USD Term SOFR + 1.48% |)<sup>#</sup> | 7/21/2037 | 4320000 | 4332658 |
| CIFC Funding Ltd. Series 2024-4A Class A<sup>†</sup> | 5.021%<br> (3 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 10/16/2037 | 1000000 | 1004431 |
| CIFC Funding Ltd. Series 2026-1A Class A1<sup>†(b)</sup> | 1.00%<br> (3 mo. USD Term SOFR + 1.17% |)<sup>#</sup> | 4/25/2039 | 24000000 | 24006000 |
| Clover CLO LLC Series 2018-1A Class D1RR<sup>†</sup> | 7.118%<br> (3 mo. USD Term SOFR + 3.45% |)<sup>#</sup> | 4/20/2037 | 1450000 | 1452279 |
| Columbia Cent CLO 33 Ltd. Series 2024-33A Class A1<sup>†</sup> | 5.268%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 4/20/2037 | 2100000 | 2103923 |
| Columbia Cent CLO 33 Ltd. Series 2024-33A Class C1<sup>†</sup> | 6.368%<br> (3 mo. USD Term SOFR + 2.70% |)<sup>#</sup> | 4/20/2037 | 2000000 | 2007602 |
| Columbia Cent CLO 34 Ltd. Series 2024-34A Class D1N<sup>†</sup> | 6.968%<br> (3 mo. USD Term SOFR + 3.30% |)<sup>#</sup> | 1/25/2038 | 3000000 | 3036651 |
| CQS U.S. CLO 5 Ltd. Series 2025-5A Class D1<sup>†</sup> | 6.961%<br> (3 mo. USD Term SOFR + 3.15% |)<sup>#</sup> | 1/17/2039 | 2000000 | 2027986 |
| CQS U.S. CLO Ltd. Series 2021-1A Class AR<sup>†</sup> | 4.868%<br> (3 mo. USD Term SOFR + 1.20% |)<sup>#</sup> | 1/20/2035 | 4500000 | 4502003 |
| CQS U.S. CLO Ltd. Series 2023-3A Class D<sup>†</sup> | 7.868%<br> (3 mo. USD Term SOFR + 4.20% |)<sup>#</sup> | 1/25/2037 | 1235000 | 1241870 |
| CQS U.S. CLO Ltd. Series 2025-4A Class B<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 7/20/2036 | 8330000 | 8362695 |
| CQS U.S. CLO Ltd. Series 2025-4A Class D1<sup>†</sup> | 7.168%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 7/20/2036 | 9500000 | 9550635 |
| Crockett Partners Equipment Co. IIA LLC Series 2024-1C Class A<sup>†</sup> | 6.05% |  | 1/20/2031 | 4631273 | 4725259 |
| Crossroads Asset Trust Series 2025-A Class A2<sup>†</sup> | 4.91% |  | 2/20/2032 | 5155949 | 5192338 |

---

See Notes to Financial Statements. 23

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Crown City CLO I Series 2020-1A Class D1RR<sup>†</sup> | 6.668%<br> (3 mo. USD Term SOFR + 3.00% |)<sup>#</sup> | 7/20/2038 | $9000000 | $9099225 |
| Crown City CLO IV Series 2022-4A Class B1R<sup>†</sup> | 6.468%<br> (3 mo. USD Term SOFR + 2.80% |)<sup>#</sup> | 4/20/2037 | 3000000 | 3014619 |
| Crown City CLO V Series 2023-5A Class A1R<sup>†</sup> | 5.268%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 4/20/2037 | 5300000 | 5314119 |
| Crown City CLO V Series 2023-5A Class BR<sup>†</sup> | 6.268%<br> (3 mo. USD Term SOFR + 2.60% |)<sup>#</sup> | 4/20/2037 | 2000000 | 2007324 |
| Crown City CLO V Series 2023-5A Class C1AR<sup>†</sup> | 7.768%<br> (3 mo. USD Term SOFR + 4.10% |)<sup>#</sup> | 4/20/2037 | 6250000 | 6276606 |
| Crown City CLO VI Series 2024-6A Class D1<sup>†</sup> | 7.172%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 7/15/2037 | 2750000 | 2767562 |
| Crown Point CLO 11 Ltd. Series 2021-11A Class ER<sup>†</sup> | 9.818%<br> (3 mo. USD Term SOFR + 6.15% |)<sup>#</sup> | 2/28/2038 | 2000000 | 1990000 |
| CTM CLO Ltd. Series 2025-1A Class C<sup>†</sup> | 6.022%<br> (3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 7/15/2038 | 13080000 | 13149481 |
| CTM CLO Ltd. Series 2025-1A Class D1<sup>†</sup> | 7.172%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 7/15/2038 | 2000000 | 2026036 |
| DailyPay Securitization Trust Series 2025-1A Class A<sup>†</sup> | 5.63% |  | 6/26/2028 | 5725000 | 5762902 |
| Danby Park CLO Ltd. Series 2022-1A Class B1R<sup>†</sup> | 5.37%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 10/21/2037 | 1250000 | 1255648 |
| Davis Park CLO Ltd. Series 2022-1A Class ER<sup>†</sup> | 9.668%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 7/20/2038 | 9000000 | 9010296 |
| Dell Equipment Finance Trust Series 2025-1 Class D<sup>†</sup> | 5.64% |  | 8/22/2031 | 4740000 | 4799321 |
| Dewolf Park CLO Ltd. Series 2017-1A Class D1R2<sup>†(b)</sup> |  | <sup>(c)</sup> | 1/22/2039 | 9590000 | 9639628 |
| Diameter Capital CLO 10 Ltd. Series 2025-10A Class B<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 4/20/2038 | 3500000 | 3522666 |
| Diameter Capital CLO 12 Ltd. Series 2025-12A Class A<sup>†</sup> | 5.156%<br> (3 mo. USD Term SOFR + 1.24% |)<sup>#</sup> | 10/20/2038 | 8650000 | 8654974 |
| Diameter Capital CLO 2 Ltd. Series 2021-2A Class A2R<sup>†</sup> | 5.472%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 10/15/2037 | 2000000 | 2010662 |
| Diameter Capital CLO 4 Ltd. Series 2022-4A Class D1RR<sup>†</sup> | 6.168%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 1/15/2039 | 5620000 | 5649067 |

---

24 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Diameter Capital CLO 6 Ltd. Series 2024-6A Class C2<sup>†</sup> | 8.672%<br> (3 mo. USD Term SOFR + 5.00% |)<sup>#</sup> | 4/15/2037 | $3500000 | $3504848 |
| Driven Brands Funding LLC Series 2025-1A Class A2<sup>†</sup> | 5.296% |  | 10/20/2055 | 4877775 | 4875345 |
| Dryden 104 CLO Ltd. Series 2022-104A Class BR<sup>†</sup> | 5.639%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 8/20/2034 | 2000000 | 2002800 |
| Dryden 115 CLO Ltd. Series 2024-115A Class B<sup>†</sup> | 5.668%<br> (3 mo. USD Term SOFR + 2.00% |)<sup>#</sup> | 4/18/2037 | 5090000 | 5101132 |
| Dryden 53 CLO Ltd. Series 2017-53A Class BR<sup>†</sup> | 4.972%<br> (3 mo. USD Term SOFR + 1.30% |)<sup>#</sup> | 1/15/2031 | 2070000 | 2071507 |
| Dryden 75 CLO Ltd. Series 2019-75A Class CR2<sup>†</sup> | 5.734%<br> (3 mo. USD Term SOFR + 2.06% |)<sup>#</sup> | 4/15/2034 | 2250000 | 2251863 |
| Dryden 80 CLO Ltd. Series 2019-80A Class CRR<sup>†</sup> | 5.518%<br> (3 mo. USD Term SOFR + 1.85% |)<sup>#</sup> | 1/17/2033 | 9840000 | 9850362 |
| Dryden 83 CLO Ltd. Series 2020-83A Class B1R<sup>†</sup> | 5.618%<br> (3 mo. USD Term SOFR + 1.95% |)<sup>#</sup> | 4/18/2037 | 3355000 | 3365286 |
| Dryden 83 CLO Ltd. Series 2020-83A Class D1R<sup>†</sup> | 7.368%<br> (3 mo. USD Term SOFR + 3.70% |)<sup>#</sup> | 4/18/2037 | 1500000 | 1508069 |
| Eaton Vance CLO Ltd. Series 2019-1A Class AR2<sup>†</sup> | 5.182%<br> (3 mo. USD Term SOFR + 1.51% |)<sup>#</sup> | 7/15/2037 | 2500000 | 2507878 |
| Elara HGV Timeshare Issuer LLC Series 2025-A Class D<sup>†</sup> | 6.91% |  | 1/25/2040 | 3404555 | 3401903 |
| Eldridge CLO Ltd. Series 2025-1A Class B<sup>†</sup> | 5.57%<br> (3 mo. USD Term SOFR + 1.65% |)<sup>#</sup> | 10/20/2038 | 3000000 | 3005607 |
| Elmwood CLO I Ltd. Series 2019-1A Class CRR<sup>†</sup> | 6.068%<br> (3 mo. USD Term SOFR + 2.40% |)<sup>#</sup> | 4/20/2037 | 1000000 | 1000050 |
| Elmwood CLO I Ltd. Series 2019-1A Class DRR<sup>†</sup> | 7.418%<br> (3 mo. USD Term SOFR + 3.75% |)<sup>#</sup> | 4/20/2037 | 2300000 | 2300115 |
| Elmwood CLO IV Ltd. Series 2020-1A Class CR<sup>†</sup> | 5.968%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 4/18/2037 | 1100000 | 1103946 |
| Empower CLO Ltd. Series 2023-1A Class D1R<sup>†</sup> | 7.518%<br> (3 mo. USD Term SOFR + 3.85% |)<sup>#</sup> | 4/25/2038 | 4000000 | 4072828 |
| Empower CLO Ltd. Series 2023-3A Class D1<sup>†</sup> | 8.818%<br> (3 mo. USD Term SOFR + 5.15% |)<sup>#</sup> | 1/20/2037 | 1800000 | 1800090 |

---

*See Notes to Financial Statements.* 25

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Empower CLO Ltd. Series 2023-3A Class E<sup>†</sup> | 11.488%<br> (3 mo. USD Term SOFR + 7.82% |)<sup>#</sup> | 1/20/2037 | $1800000 | $1800090 |
| Empower CLO Ltd. Series 2024-2A Class A1<sup>†</sup> | 5.192%<br> (3 mo. USD Term SOFR + 1.52% |)<sup>#</sup> | 7/15/2037 | 1000000 | 1002917 |
| Empower CLO Ltd. Series 2024-2A Class E<sup>†</sup> | 9.722%<br> (3 mo. USD Term SOFR + 6.05% |)<sup>#</sup> | 7/15/2037 | 100000 | 100499 |
| eStruxture Issuer LP Series 2025-1 Class A2<sup>†</sup> | 5.894% |  | 7/20/2055 | 17700000 | 13085144 |
| Fortress Credit BSL X Ltd. Series 2021-1A Class CR<sup>†</sup> | 5.718%<br> (3 mo. USD Term SOFR + 2.05% |)<sup>#</sup> | 4/20/2033 | $14450000 | 14477007 |
| Galaxy 31 CLO Ltd. Series 2023-31A Class DR<sup>†</sup> | 6.872%<br> (3 mo. USD Term SOFR + 3.20% |)<sup>#</sup> | 7/15/2038 | 4000000 | 4012456 |
| Gallatin CLO X Ltd. Series 2023-1A Class C1R<sup>†</sup> | 7.762%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 10/14/2036 | 3000000 | 3011676 |
| Gallatin CLO X Ltd. Series 2023-1A Class D1R<sup>†</sup> | 9.322%<br> (3 mo. USD Term SOFR + 3.60% |)<sup>#</sup> | 10/14/2036 | 4500000 | 4547587 |
| Garnet CLO Ltd. Series 2025-1A Class A<sup>†</sup> | 5.168%<br> (3 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 7/20/2037 | 10000000 | 10046230 |
| Garnet CLO Ltd. Series 2025-1A Class B<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 7/20/2037 | 18100000 | 18211387 |
| Generate CLO 13 Ltd. Series 2023-13A Class A1<sup>†</sup> | 5.47%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 1/20/2037 | 4950000 | 4950247 |
| Generate CLO 22 Ltd. Series 2025-22A Class E<sup>†</sup> | 9.599%<br> (3 mo. USD Term SOFR + 5.50% |)<sup>#</sup> | 7/20/2038 | 6000000 | 6095958 |
| Generate CLO 6 Ltd. Series 6A Class AR2<sup>†</sup> | 5.069%<br> (3 mo. USD Term SOFR + 1.40% |)<sup>#</sup> | 10/22/2037 | 1000000 | 1003112 |
| Golub Capital Partners 48 LP Series 2020-48A Class CR<sup>†</sup> | 5.968%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 4/17/2038 | 6900000 | 6970815 |
| Golub Capital Partners CLO 37B Ltd. Series 2017-19RA Class D1R3<sup>†</sup> | 6.587%<br> (3 mo. USD Term SOFR + 2.70% |)<sup>#</sup> | 10/20/2036 | 3050000 | 3067647 |
| Golub Capital Partners CLO 68B Ltd. Series 2023-68A Class A2R<sup>†</sup> | 5.268%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 7/25/2038 | 2000000 | 2005496 |
| Gracie Point International Funding LLC Series 2023-2A Class B<sup>†</sup> | 8.197%<br> (90 day USD SOFR Average + 4.00% |)<sup>#</sup> | 3/1/2027 | 1000000 | 1001025 |
| Gracie Point International Funding LLC Series 2025-1A Class A<sup>†</sup> | 5.30%<br> (30 day USD SOFR Average + 1.50% |)<sup>#</sup> | 8/15/2028 | 14195000 | 14231324 |

---

26 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| GreenSky Home Improvement Issuer Trust Series 2025-1A Class A3<sup>†</sup> | 5.32% |  | 3/25/2060 | $6275000 | $6424202 |
| Greywolf CLO IV Ltd. Series 2019-1A Class A2R2<sup>†</sup> | 5.468%<br>(3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 4/17/2034 | 5800000 | 5804657 |
| Greywolf CLO IV Ltd. Series 2019-1A Class B1R2<sup>†</sup> | 5.868%<br>(3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 4/17/2034 | 2500000 | 2501983 |
| Greywolf CLO VII Ltd. Series 2018-2A Class A2<sup>†</sup> | 5.829%<br>(3 mo. USD Term SOFR + 2.16% |)<sup>#</sup> | 10/20/2031 | 250000 | 250559 |
| Halsey Point CLO I Ltd. Series 2019-1A Class CR<sup>†</sup> | 6.018%<br>(3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 10/20/2037 | 1900000 | 1906454 |
| HalseyPoint CLO 3 Ltd. Series 2020-3A Class A1R<sup>†</sup> | 5.147%<br>(3 mo. USD Term SOFR + 1.48% |)<sup>#</sup> | 7/30/2037 | 7687000 | 7715519 |
| HalseyPoint CLO 3 Ltd. Series 2020-3A Class D1R<sup>†</sup> | 7.967%<br>(3 mo. USD Term SOFR + 4.30% |)<sup>#</sup> | 7/30/2037 | 2500000 | 2518560 |
| HalseyPoint CLO 7 Ltd. Series 2023-7A Class A1R<sup>†</sup> | 5.118%<br>(3 mo. USD Term SOFR + 1.45% |)<sup>#</sup> | 7/20/2038 | 20000000 | 20067980 |
| Harvest U.S. CLO Ltd. Series 2024-1A Class D<sup>†</sup> | 8.168%<br>(3 mo. USD Term SOFR + 4.50% |)<sup>#</sup> | 4/18/2037 | 6500000 | 6527670 |
| Harvest U.S. CLO Ltd. Series 2024-1A Class E<sup>†</sup> | 11.088%<br>(3 mo. USD Term SOFR + 7.42% |)<sup>#</sup> | 4/18/2037 | 7250000 | 7310421 |
| Harvest U.S. CLO Ltd. Series 2024-3A Class E<sup>†</sup> | 10.368%<br>(3 mo. USD Term SOFR + 6.70% |)<sup>#</sup> | 1/18/2038 | 3000000 | 3029121 |
| Harvest U.S. CLO Ltd. Series 2025-2A Class D1<sup>†</sup> | 7.118%<br>(3 mo. USD Term SOFR + 3.45% |)<sup>#</sup> | 7/17/2038 | 7500000 | 7601895 |
| Hayfin U.S. XV Ltd. Series 2024-15A Class D1<sup>†</sup> | 7.931%<br>(3 mo. USD Term SOFR + 4.26% |)<sup>#</sup> | 4/28/2037 | 5910000 | 5918717 |
| HPS Loan Management Ltd. Series 2021-16A Class BR<sup>†</sup> | 5.321%<br>(3 mo. USD Term SOFR + 1.65% |)<sup>#</sup> | 1/23/2035 | 10900000 | 10921364 |
| HPS Loan Management Ltd. Series 2023-18A Class ER<sup>†</sup> | 9.668%<br>(3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 7/20/2039 | 2000000 | 2017670 |
| HPS Loan Management Ltd. Series 2024-19A Class B2<sup>†</sup> | 5.922%<br>(3 mo. USD Term SOFR + 2.25% |)<sup>#</sup> | 4/15/2037 | 9750000 | 9770475 |
| HPS Loan Management Ltd. Series 2024-19A Class E<sup>†</sup> | 10.672%<br>(3 mo. USD Term SOFR + 7.00% |)<sup>#</sup> | 4/15/2037 | 5000000 | 5060260 |

---

*See Notes to Financial Statements.* 27

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| ICG U.S. CLO I Ltd. Series 2023-1A Class ER<sup>†</sup> | 10.668%<br> (3 mo. USD Term SOFR + 7.00% |)<sup>#</sup> | 7/18/2038 | $6500000 | $6585546 |
| ICG U.S. CLO Ltd. Series 2024-1A Class A1<sup>†</sup> | 5.272%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 4/15/2037 | 5000000 | 5010935 |
| ICG U.S. CLO Ltd. Series 2024-R1A Class D1<sup>†</sup> | 7.318%<br> (3 mo. USD Term SOFR + 3.65% |)<sup>#</sup> | 1/25/2038 | 2250000 | 2274991 |
| ICG U.S. CLO Ltd. Series 2025-1A Class D1<sup>†</sup> | 6.818%<br> (3 mo. USD Term SOFR + 3.15% |)<sup>#</sup> | 7/25/2038 | 8250000 | 8354428 |
| Invesco CLO Ltd. Series 2022-3A Class A1R<sup>†</sup> | 5.039%<br> (3 mo. USD Term SOFR + 1.37% |)<sup>#</sup> | 10/22/2037 | 1750000 | 1757408 |
| Invesco U.S. CLO Ltd. Series 2024-2A Class D<sup>†</sup> | 7.272%<br> (3 mo. USD Term SOFR + 3.60% |)<sup>#</sup> | 7/15/2037 | 3750000 | 3781804 |
| Invesco U.S. CLO Ltd. Series 2024-3A Class D<sup>†</sup> | 7.218%<br> (3 mo. USD Term SOFR + 3.55% |)<sup>#</sup> | 7/20/2037 | 3400000 | 3426010 |
| Island Finance Trust Series 2025-1A Class A<sup>†</sup> | 6.54% |  | 3/19/2035 | 6910000 | 7000084 |
| Katayma CLO I Ltd. Series 2023-1A Class AR<sup>†</sup> | 4.938%<br> (3 mo. USD Term SOFR + 1.27% |)<sup>#</sup> | 1/20/2039 | 17000000 | 17059279 |
| Katayma CLO II Ltd. Series 2024-2A Class D<sup>†</sup> | 8.168%<br> (3 mo. USD Term SOFR + 4.50% |)<sup>#</sup> | 4/20/2037 | 7960000 | 7971319 |
| Katayma CLO II Ltd. Series 2024-2A Class E<sup>†</sup> | 10.998%<br> (3 mo. USD Term SOFR + 7.33% |)<sup>#</sup> | 4/20/2037 | 500000 | 507381 |
| Kennedy Lewis CLO 2 Ltd. Series 2A Class CR2<sup>†</sup> | 5.971%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 10/22/2037 | 5250000 | 5280754 |
| Kennedy Lewis CLO 4 Ltd. Series 4A Class CRR<sup>†</sup> | 5.868%<br> (3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 7/20/2037 | 4250000 | 4271276 |
| KKR CLO 18 Ltd. Series 18 Class BR2<sup>†</sup> | 5.218%<br> (3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 10/18/2035 | 10000000 | 10022840 |
| KKR CLO 18 Ltd. Series 18 Class CR2<sup>†</sup> | 5.518%<br> (3 mo. USD Term SOFR + 1.85% |)<sup>#</sup> | 10/18/2035 | 4500000 | 4506755 |
| KKR CLO 23 Ltd. Series 23 Class CR<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 10/20/2031 | 1250000 | 1251614 |
| KKR CLO 28 Ltd. Series 28A Class AR2<sup>†</sup> | 4.791%<br> (3 mo. USD Term SOFR + 1.12% |)<sup>#</sup> | 2/9/2035 | 7050000 | 7062725 |
| KKR CLO 29 Ltd. Series 29A Class CR<sup>†</sup> | 6.172%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 7/15/2037 | 1000000 | 1003706 |
| KKR CLO 32 Ltd. Series 32A Class CR<sup>†</sup> | 6.172%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 4/15/2037 | 2140000 | 2147060 |
| KKR CLO 36 Ltd. Series 36A Class BR<sup>†</sup> | 5.422%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 10/15/2034 | 1250000 | 1252670 |
| KKR CLO 36 Ltd. Series 36A Class CR<sup>†</sup> | 5.622%<br> (3 mo. USD Term SOFR + 1.95% |)<sup>#</sup> | 10/15/2034 | 9120000 | 9147023 |
| KKR CLO 42 Ltd. Series 42A Class CR<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 7/20/2034 | 6100000 | 6107936 |

---

28 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| KKR CLO 47 Ltd. Series 2024-47A Class E<sup>†</sup> | 10.172%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 1/15/2038 | $1510000 | $1543215 |
| KKR CLO 51 Ltd. Series 2024-51A Class B<sup>†</sup> | 5.518%<br> (3 mo. USD Term SOFR + 1.85% |)<sup>#</sup> | 10/20/2037 | 4300000 | 4320593 |
| KKR CLO 54 Ltd. Series 2024-54A Class A<sup>†</sup> | 4.992%<br> (3 mo. USD Term SOFR + 1.32% |)<sup>#</sup> | 1/15/2038 | 4000000 | 4016848 |
| KKR CLO 59 Ltd. Series 2024-56A Class E<sup>†</sup> | 10.172%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 10/15/2037 | 250000 | 254537 |
| KKR CLO 61 Ltd. Series 2025-61A Class A2<sup>†</sup> | 5.492%<br> (3 mo. USD Term SOFR + 1.82% |)<sup>#</sup> | 7/15/2037 | 5000000 | 5013270 |
| KKR CLO 61 Ltd. Series 2025-61A Class B<sup>†</sup> | 5.622%<br> (3 mo. USD Term SOFR + 1.95% |)<sup>#</sup> | 7/15/2037 | 12480000 | 12513097 |
| KKR CLO 61 Ltd. Series 2025-61A Class D1<sup>†</sup> | 7.522%<br> (3 mo. USD Term SOFR + 3.85% |)<sup>#</sup> | 7/15/2037 | 2980000 | 2996855 |
| LCM 33 Ltd. Series 33A Class BR<sup>†</sup> | 5.468%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 7/20/2034 | 5000000 | 5008110 |
| LCM 34 Ltd. Series 34A Class C<sup>†</sup> | 5.929%<br> (3 mo. USD Term SOFR + 2.26% |)<sup>#</sup> | 10/20/2034 | 3200000 | 3208173 |
| Lendmark Funding Trust Series 2025-1A Class E<sup>†</sup> | 8.91% |  | 9/20/2034 | 5000000 | 5197271 |
| Madison Park Funding LVIII Ltd. Series 2024-58A Class D<sup>†</sup> | 7.318%<br> (3 mo. USD Term SOFR + 3.65% |)<sup>#</sup> | 4/25/2037 | 6360000 | 6395756 |
| Madison Park Funding LXII Ltd. Series 2022-62A Class BR2<sup>†</sup> | 5.421%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 7/16/2038 | 5200000 | 5228340 |
| Madison Park Funding LXXIII Ltd. Series 2025-73A Class C<sup>†</sup> | 5.863%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 10/17/2038 | 8750000 | 8788307 |
| Madison Park Funding XLII Ltd. Series 13A Class CR2<sup>†</sup> | 5.371%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 11/21/2030 | 6500000 | 6512233 |
| Magnetite XXXI Ltd. Series 2021-31A Class A1R<sup>†</sup> | 4.672%<br> (3 mo. USD Term SOFR + 1.00% |)<sup>#</sup> | 7/15/2034 | 6475000 | 6485036 |
| Man U.S. CLO Ltd. Series 2024-1A Class D1<sup>†</sup> | 7.618%<br> (3 mo. USD Term SOFR + 3.95% |)<sup>#</sup> | 7/20/2037 | 1500000 | 1512191 |
| Man U.S. CLO Ltd. Series 2024-1A Class E<sup>†</sup> | 10.748%<br> (3 mo. USD Term SOFR + 7.08% |)<sup>#</sup> | 7/20/2037 | 2520000 | 2562895 |
| Marble Point CLO XV Ltd. Series 2019-1A Class BR2<sup>†</sup> | 5.271%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 7/23/2032 | 6390000 | 6394332 |

---

*See Notes to Financial Statements.* 29

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Marble Point CLO XXII Ltd. Series 2021-2A Class BR<sup>†</sup> | 5.368%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 7/25/2034 | $4800000 | $4806974 |
| Mariner Finance Issuance Trust Series 2024-AA Class E<sup>†</sup> | 9.02% |  | 9/22/2036 | 7784000 | 8038935 |
| Mariner Finance Issuance Trust Series 2025-AA Class E<sup>†</sup> | 8.64% |  | 5/20/2038 | 5750000 | 5960689 |
| Menlo CLO I Ltd. Series 2024-1A Class A1<sup>†</sup> | 5.088%<br> (3 mo. USD Term SOFR + 1.42% |)<sup>#</sup> | 1/20/2038 | 13750000 | 13787716 |
| MidOcean Credit CLO XII Ltd. Series 2023-12A Class ERR<sup>†</sup> | 10.168%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 7/18/2038 | 740000 | 741373 |
| MidOcean Credit CLO XV Ltd. Series 2024-15A Class B<sup>†</sup> | 5.62%<br> (3 mo. USD Term SOFR + 1.95% |)<sup>#</sup> | 7/21/2037 | 1000000 | 1003130 |
| MidOcean Credit CLO XV Ltd. Series 2024-15A Class E<sup>†</sup> | 9.92%<br> (3 mo. USD Term SOFR + 6.25% |)<sup>#</sup> | 7/21/2037 | 2750000 | 2774514 |
| Mountain View CLO LLC Series 2016-1A Class CR2<sup>†</sup> | 6.017%<br> (3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 4/14/2033 | 3250000 | 3266699 |
| Mountain View CLO XVI Ltd. Series 2022-1A Class D1RR<sup>†</sup> | 7.362%<br> (3 mo. USD Term SOFR + 3.69% |)<sup>#</sup> | 3/15/2038 | 2450000 | 2490606 |
| Mountain View CLO XVIII Ltd. Series 2024-1A Class D1<sup>†</sup> | 7.321%<br> (3 mo. USD Term SOFR + 3.65% |)<sup>#</sup> | 10/16/2037 | 3450000 | 3482299 |
| Nassau Ltd. Series 2021-IA Class A1R<sup>†</sup> | 4.782%<br> (3 mo. USD Term SOFR + 1.11% |)<sup>#</sup> | 8/26/2034 | 14750000 | 14750900 |
| Nassau Ltd. Series 2021-IA Class CR<sup>†</sup> | 5.622%<br> (3 mo. USD Term SOFR + 1.95% |)<sup>#</sup> | 8/26/2034 | 1050000 | 1050291 |
| Navesink CLO 1 Ltd. Series 2023-1A Class A1R<sup>†</sup> | 5.348%<br> (3 mo. USD Term SOFR + 1.68% |)<sup>#</sup> | 7/25/2033 | 4000000 | 4008316 |
| Navesink CLO 2 Ltd. Series 2024-2A Class A1R<sup>†</sup> | 4.862%<br> (3 mo. USD Term SOFR + 1.19% |)<sup>#</sup> | 1/15/2036 | 8700000 | 8706316 |
| Navesink CLO 3 Ltd. Series 2025-3A Class A1<sup>†</sup> | 5.152%<br> (3 mo. USD Term SOFR + 1.48% |)<sup>#</sup> | 7/15/2037 | 5630000 | 5637195 |
| Navesink CLO 3 Ltd. Series 2025-3A Class C1<sup>†</sup> | 5.972%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 7/15/2037 | 5400000 | 5406901 |
| Navesink CLO 4 Ltd. Series 2025-4A Class E<sup>†</sup> | 10.168%<br> (3 mo. USD Term SOFR + 6.25% |)<sup>#</sup> | 10/15/2037 | 4420000 | 4446675 |

---

30 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Neuberger Berman CLO 32R Ltd. Series 2019-32RA Class A<sup>†</sup> | 4.978%<br> (3 mo. USD Term SOFR + 1.31% |)<sup>#</sup> | 7/20/2039 | $26000000 | $26083928 |
| Neuberger Berman CLO XVII Ltd. Series 2014-17A Class ER3<sup>†</sup> | 10.419%<br> (3 mo. USD Term SOFR + 6.75% |)<sup>#</sup> | 7/22/2038 | 1000000 | 1014387 |
| Neuberger Berman CLO XXII Ltd. Series 2016-22A Class CR2<sup>†</sup> | 6.118%<br> (3 mo. USD Term SOFR + 2.45% |)<sup>#</sup> | 4/15/2038 | 2000000 | 2007966 |
| Neuberger Berman Loan Advisers CLO 28 Ltd. Series 2018-28A Class ER<sup>†</sup> | 10.618%<br> (3 mo. USD Term SOFR + 6.95% |)<sup>#</sup> | 10/20/2038 | 2000000 | 2033936 |
| Neuberger Berman Loan Advisers CLO 34 Ltd. Series 2019-34A Class D1R2<sup>†</sup> | 6.518%<br> (3 mo. USD Term SOFR + 2.85% |)<sup>#</sup> | 7/20/2039 | 5000000 | 5056865 |
| Neuberger Berman Loan Advisers CLO 50 Ltd. Series 2022-50A Class AR<sup>†</sup> | 4.921%<br> (3 mo. USD Term SOFR + 1.25% |)<sup>#</sup> | 7/23/2036 | 4750000 | 4754973 |
| Neuberger Berman Loan Advisers CLO 55 Ltd. Series 2024-55A Class A2<sup>†</sup> | 5.369%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 4/22/2038 | 14000000 | 14027762 |
| NGC CLO 2 Ltd. Series 2025-2A Class C1<sup>†</sup> | 5.868%<br> (3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 4/20/2038 | 7000000 | 7023009 |
| NGC CLO 2 Ltd. Series 2025-2A Class D1<sup>†</sup> | 7.218%<br> (3 mo. USD Term SOFR + 3.55% |)<sup>#</sup> | 4/20/2038 | 5700000 | 5761144 |
| NGC Ltd. Series 2024-1A Class D1<sup>†</sup> | 7.868%<br> (3 mo. USD Term SOFR + 4.20% |)<sup>#</sup> | 7/20/2037 | 4000000 | 4054128 |
| Northwoods Capital 22 Ltd. Series 2020-22A Class DRR<sup>†</sup> | 8.656%<br> (3 mo. USD Term SOFR + 4.95% |)<sup>#</sup> | 9/16/2031 | 5360000 | 5407114 |
| Oaktree CLO Ltd. Series 2021-2A Class D2R<sup>†</sup> | 7.172%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 1/15/2035 | 2000000 | 1997846 |
| Oaktree CLO Ltd. Series 2022-3A Class ER<sup>†</sup> | 10.172%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 10/15/2037 | 2500000 | 2521598 |
| Ocean Trails CLO XIV Ltd. Series 2023-14A Class CR<sup>†</sup> | 5.668%<br> (3 mo. USD Term SOFR + 2.00% |)<sup>#</sup> | 1/20/2038 | 4900000 | 4913475 |
| Ocean Trails CLO XV Ltd. Series 2024-15A Class D1R<sup>†</sup> | 6.922%<br> (3 mo. USD Term SOFR + 3.25% |)<sup>#</sup> | 1/15/2039 | 6675000 | 6688310 |
| Ocean Trails CLO XV Ltd. Series 2024-15A Class D2R<sup>†</sup> | 8.072%<br> (3 mo. USD Term SOFR + 4.40% |)<sup>#</sup> | 1/15/2039 | 1000000 | 1001966 |

---

*See Notes to Financial Statements.* 31

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Ocean Trails CLO XVII Ltd. Series 2025-17A Class D1<sup>†</sup> | 6.96%<br> (3 mo. USD Term SOFR + 3.10% |)<sup>#</sup> | 3/20/2038 | $3050000 | $3087732 |
| OCP CLO Ltd. Series 2019-17A Class BR2<sup>†</sup> | 5.418%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 7/20/2037 | 1750000 | 1754839 |
| OCP CLO Ltd. Series 2024-31A Class D<sup>†</sup> | 7.618%<br> (3 mo. USD Term SOFR + 3.95% |)<sup>#</sup> | 4/20/2037 | 1000000 | 1001428 |
| OCP CLO Ltd. Series 2024-32A Class E<sup>†</sup> | 10.431%<br> (3 mo. USD Term SOFR + 6.76% |)<sup>#</sup> | 4/23/2037 | 5000000 | 5074610 |
| OCP CLO Ltd. Series 2024-33A Class A2<sup>†</sup> | 5.368%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 7/20/2037 | 12000000 | 12026460 |
| Octagon Investment Partners 42 Ltd. Series 2019-3A Class BRR<sup>†</sup> | 5.472%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 7/15/2037 | 1500000 | 1506428 |
| OFSI BSL CLO XIII Ltd. Series 2024-13A Class D1<sup>†</sup> | 8.168%<br> (3 mo. USD Term SOFR + 4.50% |)<sup>#</sup> | 4/20/2037 | 5000000 | 5037765 |
| OFSI BSL XIV CLO Ltd. Series 2024-14A Class D1<sup>†</sup> | 7.518%<br> (3 mo. USD Term SOFR + 3.85% |)<sup>#</sup> | 7/20/2037 | 3750000 | 3770603 |
| OFSI BSL XV CLO Ltd. Series 2025-15A Class D1<sup>†</sup> | 7.418%<br> (3 mo. USD Term SOFR + 3.75% |)<sup>#</sup> | 3/31/2038 | 10000000 | 10125300 |
| OHA Credit Funding 17 Ltd. Series 2024-17A Class C<sup>†</sup> | 5.968%<br> (3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 4/20/2037 | 1720000 | 1727274 |
| OHA Credit Funding 18 Ltd. Series 2024-18A Class A1<sup>†</sup> | 5.168%<br> (3 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 4/20/2037 | 10300000 | 10329077 |
| OHA Credit Funding 18 Ltd. Series 2024-18A Class D1<sup>†</sup> | 7.118%<br> (3 mo. USD Term SOFR + 3.45% |)<sup>#</sup> | 4/20/2037 | 1760000 | 1770718 |
| OHA Credit Funding 18 Ltd. Series 2024-18A Class E<sup>†</sup> | 10.068%<br> (3 mo. USD Term SOFR + 6.40% |)<sup>#</sup> | 4/20/2037 | 2500000 | 2532475 |
| OHA Credit Partners XVII Ltd. Series 2024-17A Class A<sup>†</sup> | 4.988%<br> (3 mo. USD Term SOFR + 1.32% |)<sup>#</sup> | 1/18/2038 | 3423000 | 3435422 |
| OneMain Financial Issuance Trust Series 2022-S1 Class C<sup>†</sup> | 4.56% |  | 5/14/2035 | 5765000 | 5768457 |
| OneMain Financial Issuance Trust Series 2023-1A Class A<sup>†</sup> | 5.50% |  | 6/14/2038 | 8383000 | 8648979 |
| OWN Equipment Fund I LLC Series 2024-2M Class A<sup>†</sup> | 5.70% |  | 12/20/2032 | 5703125 | 5788519 |

---

32 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| OWN Equipment Fund I LLC Series 2024-2M Class B<sup>†</sup> | 6.43% |  | 12/20/2032 | $1607646 | $1629327 |
| Pagaya AI Debt Trust Series 2025-REV1 Class A<sup>†</sup> | 5.011% |  | 8/15/2035 | 15025000 | 15044725 |
| Pagaya Point of Sale Holdings Grantor Trust Series 2025-1 Class A<sup>†</sup> | 5.715% |  | 1/20/2034 | 6950000 | 7010447 |
| Palmer Square CLO Ltd. Series 2018-2A Class BR<sup>†</sup> | 6.171%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 4/16/2037 | 5000000 | 5019545 |
| Palmer Square CLO Ltd. Series 2022-5A Class A1R<sup>†</sup> | 5.018%<br> (3 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 10/20/2037 | 1500000 | 1506045 |
| Parallel Ltd. Series 2023-1A Class A1R<sup>†</sup> | 5.058%<br> (3 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 7/20/2036 | 5720000 | 5734964 |
| Park Blue CLO Ltd. Series 2022-1A Class A1R<sup>†</sup> | 5.088%<br> (3 mo. USD Term SOFR + 1.42% |)<sup>#</sup> | 10/20/2037 | 9050000 | 9088589 |
| Park Blue CLO Ltd. Series 2023-3A Class A1R<sup>†</sup> | 5.148%<br> (3 mo. USD Term SOFR + 1.48% |)<sup>#</sup> | 4/20/2037 | 4000000 | 4015240 |
| Park Blue CLO Ltd. Series 2023-3A Class D1R<sup>†</sup> | 7.168%<br> (3 mo. USD Term SOFR + 3.50% |)<sup>#</sup> | 4/20/2038 | 12250000 | 12313565 |
| Pikes Peak CLO 16 Ltd. Series 2024-16A Class A1<sup>†</sup> | 5.128%<br> (3 mo. USD Term SOFR + 1.46% |)<sup>#</sup> | 7/25/2037 | 1900000 | 1906272 |
| Pikes Peak CLO 3 Series 2019-3A Class ARR<sup>†</sup> | 5.13%<br> (3 mo. USD Term SOFR + 1.46% |)<sup>#</sup> | 10/25/2034 | 1900000 | 1902347 |
| Pikes Peak CLO 6 Series 2020-6A Class DRR<sup>†</sup> | 6.375%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 5/18/2034 | 6250000 | 6256906 |
| POLUS U.S. CLO I Ltd. Series 2024-1A Class C<sup>†</sup> | 6.068%<br> (3 mo. USD Term SOFR + 2.40% |)<sup>#</sup> | 10/20/2037 | 2800000 | 2816738 |
| Polus U.S. CLO II Ltd. Series 2024-1A Class E<sup>†</sup> | 11.008%<br> (3 mo. USD Term SOFR + 7.34% |)<sup>#</sup> | 10/20/2037 | 2000000 | 2024942 |
| Post CLO Ltd. Series 2018-1A Class ER<sup>†</sup> | 11.351%<br> (3 mo. USD Term SOFR + 7.68% |)<sup>#</sup> | 10/16/2037 | 1000000 | 1025953 |
| Post CLO Ltd. Series 2021-1A Class BR<sup>†</sup> | 5.272%<br> (3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 10/15/2034 | 10000000 | 10011110 |
| Post CLO Ltd. Series 2024-1A Class B<sup>†</sup> | 5.768%<br> (3 mo. USD Term SOFR + 2.10% |)<sup>#</sup> | 4/20/2037 | 5000000 | 5015235 |
| Post CLO Ltd. Series 2024-1A Class C<sup>†</sup> | 6.168%<br> (3 mo. USD Term SOFR + 2.50% |)<sup>#</sup> | 4/20/2037 | 5000000 | 5020190 |
| Post CLO VI Ltd. Series 2024-2A Class C<sup>†</sup> | 5.768%<br> (3 mo. USD Term SOFR + 2.10% |)<sup>#</sup> | 1/20/2038 | 1000000 | 1003750 |
| Post Road Equipment Finance LLC Series 2025-1A Class E<sup>†</sup> | 7.08% |  | 5/17/2032 | 5350000 | 5456715 |

---

*See Notes to Financial Statements.* 33

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| PPM CLO 3 Ltd. Series 2019-3A Class A1R2<sup>†</sup> | 4.788%<br> (3 mo. USD Term SOFR + 1.12% |)<sup>#</sup> | 7/17/2034 | $1400000 | $1402656 |
| PPM CLO 6-R Ltd. Series 2022-6RA Class BR<sup>†</sup> | 6.418%<br> (3 mo. USD Term SOFR + 2.75% |)<sup>#</sup> | 1/20/2037 | 5000000 | 5024060 |
| Rad CLO 16 Ltd. Series 2022-16A Class A1R<sup>†</sup> | 5.222%<br> (3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 7/15/2037 | 5000000 | 5022190 |
| Rad CLO 6 Ltd. Series 2019-6A Class A1R<sup>†</sup> | 5.058%<br> (3 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 10/20/2037 | 2630000 | 2641130 |
| Reach ABS Trust Series 2025-1A Class A<sup>†</sup> | 4.96% |  | 8/16/2032 | 498959 | 500427 |
| Recette CLO Ltd. Series 2015-1A Class AR3<sup>†</sup> | 4.698%<br> (3 mo. USD Term SOFR + 1.03% |)<sup>#</sup> | 4/20/2034 | 5000000 | 5004355 |
| Regatta 32 Funding Ltd. Series 2025-4A Class A1<sup>†</sup> | 5.008%<br> (3 mo. USD Term SOFR + 1.34% |)<sup>#</sup> | 7/25/2038 | 5000000 | 5028520 |
| Regatta XXI Funding Ltd. Series 2021-3A Class BR<sup>†</sup> | 5.422%<br> (3 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 10/15/2037 | 1500000 | 1507089 |
| Republic Finance Issuance Trust Series 2024-A Class D<sup>†</sup> | 9.49% |  | 8/20/2032 | 6200000 | 6383536 |
| Republic Finance Issuance Trust Series 2024-B Class C<sup>†</sup> | 6.60% |  | 11/20/2037 | 2000000 | 2048696 |
| Republic Finance Issuance Trust Series 2024-B Class D<sup>†</sup> | 8.83% |  | 11/20/2037 | 10115000 | 10410030 |
| Riserva CLO Ltd. Series 2016-3A Class AR3<sup>†</sup> | 4.718%<br> (3 mo. USD Term SOFR + 1.05% |)<sup>#</sup> | 1/18/2034 | 1300000 | 1302287 |
| Rockford Tower CLO Ltd. Series 2021-3A Class CBR<sup>†</sup> | 5.872%<br> (3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 1/15/2038 | 2250000 | 2262726 |
| Rockford Tower CLO Ltd. Series 2024-1A Class E<sup>†</sup> | 11.148%<br> (3 mo. USD Term SOFR + 7.48% |)<sup>#</sup> | 4/20/2037 | 2500000 | 2528285 |
| Rockford Tower CLO Ltd. Series 2025-1A Class E<sup>†</sup> | 9.272%<br> (3 mo. USD Term SOFR + 5.60% |)<sup>#</sup> | 3/31/2038 | 2570000 | 2526829 |
| Rockland Park CLO Ltd. Series 2021-1A Class ER<sup>†</sup> | 9.368%<br> (3 mo. USD Term SOFR + 5.70% |)<sup>#</sup> | 7/20/2038 | 5000000 | 5036340 |
| Romark CLO - IV Ltd. Series 2021-4A Class A1R<sup>†</sup> | 4.79%<br> (3 mo. USD Term SOFR + 1.14% |)<sup>#</sup> | 7/10/2034 | 5100000 | 5103019 |
| RR 28 Ltd. Series 2024-28RA Class DR<sup>†</sup> | 10.672%<br> (3 mo. USD Term SOFR + 7.00% |)<sup>#</sup> | 4/15/2037 | 500000 | 506298 |

---

34 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| RR 34 Ltd. Series 2024-34RA Class DR<sup>†</sup> | 9.172%<br> (3 mo. USD Term SOFR + 5.50% |)<sup>#</sup> | 10/15/2039 | $1000000 | $1010489 |
| RR 5 Ltd. Series 2018-5A Class A1R<sup>†</sup> | 5.172%<br> (3 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 7/15/2039 | 1000000 | 1003350 |
| Sagard-Halseypoint CLO 8 Ltd. Series 2024-8A Class D2<sup>†</sup> | 7.667%<br> (3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 1/30/2038 | 5625000 | 5644091 |
| Sagard-Halseypoint CLO 9 Ltd. Series 2025-9A Class B<sup>†</sup> | 5.568%<br> (3 mo. USD Term SOFR + 1.90% |)<sup>#</sup> | 4/20/2038 | 3000000 | 3018399 |
| Sagard-Halseypoint CLO 9 Ltd. Series 2025-9A Class C1<sup>†</sup> | 5.818%<br> (3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 4/20/2038 | 1000000 | 1007807 |
| Sandstone Peak II Ltd. Series 2023-1A Class A1R<sup>†</sup> | 5.078%<br> (3 mo. USD Term SOFR + 1.41% |)<sup>#</sup> | 7/20/2038 | 10000000 | 10034010 |
| Sandstone Peak II Ltd. Series 2023-1A Class D1R<sup>†</sup> | 6.968%<br> (3 mo. USD Term SOFR + 3.30% |)<sup>#</sup> | 7/20/2038 | 5000000 | 5033535 |
| Sandstone Peak III Ltd. Series 2024-1A Class A1<sup>†</sup> | 5.298%<br> (3 mo. USD Term SOFR + 1.63% |)<sup>#</sup> | 4/25/2037 | 3500000 | 3507203 |
| Sandstone Peak III Ltd. Series 2024-1A Class D1<sup>†</sup> | 7.518%<br> (3 mo. USD Term SOFR + 3.85% |)<sup>#</sup> | 4/25/2037 | 1780000 | 1782601 |
| Sandstone Peak Ltd. Series 2021-1A Class B1R<sup>†</sup> | 5.502%<br> (3 mo. USD Term SOFR + 1.83% |)<sup>#</sup> | 10/15/2034 | 1250000 | 1252350 |
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class BR<sup>†</sup> | 5.668%<br> (3 mo. USD Term SOFR + 2.00% |)<sup>#</sup> | 10/20/2037 | 3000000 | 3007458 |
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class CR<sup>†</sup> | 6.068%<br> (3 mo. USD Term SOFR + 2.40% |)<sup>#</sup> | 10/20/2037 | 5750000 | 5763495 |
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class D1R<sup>†</sup> | 7.318%<br> (3 mo. USD Term SOFR + 3.65% |)<sup>#</sup> | 10/20/2037 | 4000000 | 4007868 |
| SCF Equipment Trust LLC Series 2025-1A Class E<sup>†</sup> | 6.75% |  | 11/20/2035 | 3200000 | 3338638 |
| SEB Funding LLC Series 2021-1A Class A2<sup>†</sup> | 4.969% |  | 1/30/2052 | 4961565 | 4955544 |
| Shackleton CLO Ltd. Series 2019-14A Class A1RR<sup>†</sup> | 4.868%<br> (3 mo. USD Term SOFR + 1.20% |)<sup>#</sup> | 7/20/2034 | 2800000 | 2806098 |

---

*See Notes to Financial Statements.* 35

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Sierra Timeshare Receivables Funding LLC Series 2024-3A Class D<sup>†</sup> | 6.93% |  | 8/20/2041 | $1637238 | $1651654 |
| Signal Peak CLO 5 Ltd. Series 2018-5A Class A1R<sup>†</sup> | 5.218%<br> (3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 4/25/2037 | 4600000 | 4613280 |
| Signal Peak CLO 7 Ltd. Series 2019-1A Class CR<sup>†</sup> | 5.818%<br> (3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 10/20/2037 | 3500000 | 3521294 |
| Silver Point CLO 10 Ltd. Series 2025-10A Class A1<sup>†</sup> | 5.122%<br> (3 mo. USD Term SOFR + 1.45% |)<sup>#</sup> | 7/15/2038 | 5135000 | 5159997 |
| Silver Point CLO 10 Ltd. Series 2025-10A Class B<sup>†</sup> | 5.472%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 7/15/2038 | 4500000 | 4521010 |
| Silver Point CLO 4 Ltd. Series 2024-4A Class A1<sup>†</sup> | 5.302%<br> (3 mo. USD Term SOFR + 1.63% |)<sup>#</sup> | 4/15/2037 | 20320000 | 20364704 |
| Silver Point CLO 4 Ltd. Series 2024-4A Class D<sup>†</sup> | 7.772%<br> (3 mo. USD Term SOFR + 4.10% |)<sup>#</sup> | 4/15/2037 | 900000 | 907691 |
| Silver Point CLO 6 Ltd. Series 2024-6A Class E<sup>†</sup> | 9.972%<br> (3 mo. USD Term SOFR + 6.30% |)<sup>#</sup> | 10/15/2037 | 3550000 | 3596288 |
| Silver Point CLO 9 Ltd. Series 2025-9A Class A1<sup>†</sup> | 5.192%<br> (3 mo. USD Term SOFR + 1.52% |)<sup>#</sup> | 3/31/2038 | 11500000 | 11559823 |
| Silver Point CLO 9 Ltd. Series 2025-9A Class D1<sup>†</sup> | 7.272%<br> (3 mo. USD Term SOFR + 3.60% |)<sup>#</sup> | 3/31/2038 | 2500000 | 2532268 |
| Silver Point CLO 9 Ltd. Series 2025-9A Class E<sup>†</sup> | 10.572%<br> (3 mo. USD Term SOFR + 6.90% |)<sup>#</sup> | 3/31/2038 | 2000000 | 2039146 |
| Sixth Street CLO VIII Ltd. Series 2017-8A Class BR2<sup>†</sup> | 5.468%<br> (3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 10/20/2034 | 2380950 | 2383693 |
| Sixth Street CLO XV Ltd. Series 2020-15A Class AR<sup>†</sup> | 5.038%<br> (3 mo. USD Term SOFR + 1.37% |)<sup>#</sup> | 10/24/2037 | 1500000 | 1506684 |
| Sixth Street CLO XVI Ltd. Series 2020-16A Class DR<sup>†</sup> | 8.318%<br> (3 mo. USD Term SOFR + 4.65% |)<sup>#</sup> | 1/20/2037 | 3000000 | 3000150 |
| Sixth Street CLO XVI Ltd. Series 2020-16A Class ER<sup>†</sup> | 11.088%<br> (3 mo. USD Term SOFR + 7.42% |)<sup>#</sup> | 1/20/2037 | 5000000 | 5000250 |

---

36 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Sixth Street CLO XXI Ltd. Series 2022-21A Class AR<sup>†</sup> | 5.04%<br>(3 mo. USD Term SOFR + 1.37% |)<sup>#</sup> | 10/21/2037 | $1500000 | $1505259 |
| Sotheby's Artfi Master Trust Series 2024-1A Class A2<sup>†</sup> | 5.195%<br>(3 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 12/22/2031 | 5223000 | 5223947 |
| Sotheby's Artfi Master Trust Series 2026-1A Class A2<sup>†(b)</sup> | 4.921%<br>(3 mo. USD Term SOFR + 1.25% |)<sup>#</sup> | 6/20/2033 | 22775000 | 22853505 |
| Steele Creek CLO Ltd. Series 2022-1A Class C2R<sup>†</sup> | 6.672%<br>(3 mo. USD Term SOFR + 3.00% |)<sup>#</sup> | 4/15/2038 | 11000000 | 11030910 |
| Stream Innovations Issuer Trust Series 2024-2A Class A<sup>†</sup> | 5.21% |  | 2/15/2045 | 4233840 | 4285889 |
| Stream Innovations Issuer Trust Series 2025-1A Class A<sup>†</sup> | 5.05% |  | 9/15/2045 | 4554827 | 4602930 |
| Sunbit Asset Securitization Trust Series 2025-1 Class A<sup>†</sup> | 5.36% |  | 7/15/2030 | 7170000 | 7196937 |
| Sycamore Tree CLO Ltd. Series 2021-1A Class AR<sup>†</sup> | 5.058%<br>(3 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 1/20/2038 | 5550000 | 5575069 |
| Sycamore Tree CLO Ltd. Series 2023-2A Class BR<sup>†</sup> | 6.018%<br>(3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 1/20/2037 | 3000000 | 3009408 |
| Sycamore Tree CLO Ltd. Series 2023-2A Class ER<sup>†</sup> | 11.348%<br>(3 mo. USD Term SOFR + 7.68% |)<sup>#</sup> | 1/20/2037 | 6000000 | 6015906 |
| Sycamore Tree CLO Ltd. Series 2023-3A Class BR<sup>†</sup> | 5.818%<br>(3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 4/20/2037 | 7410000 | 7437773 |
| Sycamore Tree CLO Ltd. Series 2023-3A Class D1R<sup>†</sup> | 7.918%<br>(3 mo. USD Term SOFR + 4.25% |)<sup>#</sup> | 4/20/2037 | 5750000 | 5773926 |
| Sycamore Tree CLO Ltd. Series 2025-6A Class B<sup>†</sup> | 5.268%<br>(3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 4/20/2038 | 2550000 | 2558882 |
| Sycamore Tree CLO Ltd. Series 2025-7A Class E<sup>†</sup> | 9.168%<br>(3 mo. USD Term SOFR + 5.50% |)<sup>#</sup> | 8/28/2038 | 5000000 | 5000750 |
| TCW CLO Ltd. Series 2024-1A Class AJ<sup>†</sup> | 5.471%<br>(3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 1/16/2037 | 6000000 | 6012030 |
| Thayer Park CLO Ltd. Series 2017-1A Class A1RR<sup>†</sup> | 4.668%<br> (3 mo. USD Term SOFR + 1.00% |)<sup>#</sup> | 4/20/2034 | 10000000 | 10018000 |

---

*See Notes to Financial Statements.* 37

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Tikehau U.S. CLO III Ltd. Series 2022-2A Class C1R<sup>†</sup> | 6.868%<br> (3 mo. USD Term SOFR + 3.20% |)<sup>#</sup> | 1/20/2036 | $5450000 | $5479566 |
| TPG CLO Ltd. Series 2025-1A Class D1<sup>†</sup> | 7.313%<br> (3 mo. USD Term SOFR + 3.35% |)<sup>#</sup> | 7/15/2038 | 5550000 | 5610001 |
| Trestles CLO II Ltd. Series 2018-2A Class B2R<sup>†</sup> | 5.818%<br> (3 mo. USD Term SOFR + 2.15% |)<sup>#</sup> | 7/25/2037 | 2000000 | 2003810 |
| Trestles CLO V Ltd. Series 2021-5A Class CR<sup>†</sup> | 5.918%<br> (3 mo. USD Term SOFR + 2.25% |)<sup>#</sup> | 10/20/2034 | 9250000 | 9266224 |
| Trimaran CAVU Ltd. Series 2022-1A Class ER<sup>†</sup> | 10.589%<br> (3 mo. USD Term SOFR + 6.92% |)<sup>#</sup> | 10/22/2037 | 1750000 | 1766224 |
| Trimaran CAVU Ltd. Series 2024-1A Class E<sup>†</sup> | 9.918%<br>(3 mo. USD Term SOFR + 6.25% |)<sup>#</sup> | 1/25/2038 | 4400000 | 4479750 |
| Trinitas CLO XIV Ltd. Series 2020-14A Class CR2<sup>†</sup> | 5.768%<br> (3 mo. USD Term SOFR + 2.10% |)<sup>#</sup> | 1/25/2034 | 1700000 | 1704848 |
| Trinitas CLO XVI Ltd. Series 2021-16A Class B1R<sup>†</sup> | 5.368%<br> (3 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 7/20/2034 | 9000000 | 9012744 |
| Trinitas CLO XX Ltd. Series 2022-20A Class A1R<sup>†</sup> | 4.708%<br> (3 mo. USD Term SOFR + 1.04% |)<sup>#</sup> | 7/20/2035 | 2050000 | 2051443 |
| Trinitas CLO XX Ltd. Series 2022-20A Class D1R<sup>†</sup> | 6.668%<br> (3 mo. USD Term SOFR + 3.00% |)<sup>#</sup> | 7/20/2035 | 5000000 | 5008580 |
| Trinitas CLO XXII Ltd. Series 2023-22A Class ER<sup>†</sup> | 9.668%<br> (3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 3/20/2038 | 2000000 | 2021204 |
| Trinitas CLO XXIV Ltd. Series 2024-24A Class C<sup>†</sup> | 6.418%<br> (3 mo. USD Term SOFR + 2.75% |)<sup>#</sup> | 4/25/2037 | 9450000 | 9490493 |
| Trinitas CLO XXIV Ltd. Series 2024-24A Class D1<sup>†</sup> | 7.768%<br> (3 mo. USD Term SOFR + 4.10% |)<sup>#</sup> | 4/25/2037 | 1840000 | 1842686 |
| Trinitas CLO XXIX Ltd. Series 2024-29A Class A1<sup>†</sup> | 5.161%<br> (3 mo. USD Term SOFR + 1.49% |)<sup>#</sup> | 7/23/2037 | 3240000 | 3249195 |
| Trinitas CLO XXIX Ltd. Series 2024-29A Class C<sup>†</sup> | 6.021%<br> (3 mo. USD Term SOFR + 2.35% |)<sup>#</sup> | 7/23/2037 | 4530000 | 4558643 |
| Trinitas CLO XXIX Ltd. Series 2024-29A Class E<sup>†</sup> | 10.171%<br> (3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 7/23/2037 | 6250000 | 6292269 |

---

38 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Trinitas CLO XXVI Ltd. Series 2023-26A Class C1R<sup>†</sup> | 6.068%<br> (3 mo. USD Term SOFR + 2.40% |)<sup>#</sup> | 7/20/2038 | $12750000 | $12858464 |
| Trinitas CLO XXVI Ltd. Series 2023-26A Class DR<sup>†</sup> | 7.368%<br>(3 mo. USD Term SOFR + 3.70% |)<sup>#</sup> | 7/20/2038 | 1750000 | 1776964 |
| Trinitas CLO XXVI Ltd. Series 2023-26A Class ER<sup>†</sup> | 10.418%<br>(3 mo. USD Term SOFR + 6.75% |)<sup>#</sup> | 7/20/2038 | 5000000 | 5087130 |
| Trinitas CLO XXVII Ltd. Series 2024-27A Class B<sup>†</sup> | 5.868%<br>(3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 4/18/2037 | 500000 | 501785 |
| Trinitas CLO XXVII Ltd. Series 2024-27A Class C1<sup>†</sup> | 6.468%<br>(3 mo. USD Term SOFR + 2.80% |)<sup>#</sup> | 4/18/2037 | 1376189 | 1381369 |
| Trinitas CLO XXVII Ltd. Series 2024-27A Class D1<sup>†</sup> | 7.968%<br>(3 mo. USD Term SOFR + 4.30% |)<sup>#</sup> | 4/18/2037 | 1230000 | 1239604 |
| Trinitas CLO XXVIII Ltd. Series 2024-28A Class B<sup>†</sup> | 5.768%<br>(3 mo. USD Term SOFR + 2.10% |)<sup>#</sup> | 4/25/2037 | 1000000 | 1003419 |
| Trinitas CLO XXVIII Ltd. Series 2024-28A Class D<sup>†</sup> | 7.668%<br>(3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 4/25/2037 | 3150000 | 3172371 |
| Trinitas CLO XXXII Ltd. Series 2025-32A Class E<sup>†</sup> | 9.471%<br>(3 mo. USD Term SOFR + 5.80% |)<sup>#</sup> | 7/23/2038 | 7500000 | 7559550 |
| Trinitas CLO XXXIV Ltd. Series 2025-34A Class D1<sup>†</sup> | 7.669%<br>(3 mo. USD Term SOFR + 4.00% |)<sup>#</sup> | 4/22/2038 | 250000 | 254028 |
| Verdant Receivables LLC Series 2024-1A Class D<sup>†</sup> | 7.23% |  | 12/12/2031 | 1550000 | 1618322 |
| Verdant Receivables LLC Series 2025-1A Class D<sup>†</sup> | 6.49% |  | 5/12/2033 | 2750000 | 2840417 |
| VFI ABS LLC Series 2025-1A Class A<sup>†</sup> | 4.78% |  | 6/24/2030 | 6117383 | 6153446 |
| Vibrant CLO XII Ltd. Series 2021-12A Class A1A2<sup>†</sup> | 4.818%<br>(3 mo. USD Term SOFR + 1.15% |)<sup>#</sup> | 4/20/2034 | 1000000 | 1000691 |
| Vibrant CLO XII Ltd. Series 2021-12A Class A2RR<sup>†</sup> | 5.318%<br>(3 mo. USD Term SOFR + 1.65% |)<sup>#</sup> | 4/20/2034 | 5700000 | 5705523 |
| Vibrant CLO XR Ltd. Series 2018-10RA Class C1<sup>†</sup> | 8.668%<br>(3 mo. USD Term SOFR + 5.00% |)<sup>#</sup> | 4/20/2036 | 2920000 | 2943097 |

---

See Notes to Financial Statements. 39

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Vibrant CLO XVI Ltd. Series 2023-16A Class C1R<sup>†</sup> | 7.272%<br>(3 mo. USD Term SOFR + 3.60% |)<sup>#</sup> | 7/15/2036 | $5250000 | $5288703 |
| Voya CLO Ltd. Series 2015-3A Class A3R4<sup>†</sup> | 5.118%<br>(3 mo. USD Term SOFR + 1.45% |)<sup>#</sup> | 10/20/2031 | 4055000 | 4061804 |
| Voya CLO Ltd. Series 2015-3A Class BR4<sup>†</sup> | 5.468%<br>(3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 10/20/2031 | 18000000 | 18034650 |
| Voya CLO Ltd. Series 2024-1A Class E<sup>†</sup> | 10.322%<br>(3 mo. USD Term SOFR + 6.65% |)<sup>#</sup> | 4/15/2037 | 6000000 | 6071958 |
| Voya CLO Ltd. Series 2024-5A Class C<sup>†</sup> | 5.672%<br>(3 mo. USD Term SOFR + 2.00% |)<sup>#</sup> | 10/15/2037 | 1050000 | 1054025 |
| Warwick Capital CLO 3 Ltd. Series 2024-3A Class D<sup>†</sup> | 8.168%<br>(3 mo. USD Term SOFR + 4.50% |)<sup>#</sup> | 4/20/2037 | 2670000 | 2687056 |
| Warwick Capital CLO 5 Ltd. Series 2024-5A Class A1<sup>†</sup> | 5.028%<br>(3 mo. USD Term SOFR + 1.36% |)<sup>#</sup> | 1/20/2038 | 3000000 | 3010287 |
| Warwick Capital CLO 6 Ltd. Series 2025-6A Class E<sup>†</sup> | 9.668%<br>(3 mo. USD Term SOFR + 6.00% |)<sup>#</sup> | 7/20/2038 | 6000000 | 6114984 |
| Warwick Capital CLO 7 Ltd. Series 2025-7A Class SUB<sup>†</sup> | Zero coupon | <sup>#(d)</sup> | 10/21/2038 | 2000000 | 1577518 <sup>(a)</sup> |
| Wellfleet CLO Ltd. Series 2020-1A Class BRR<sup>†</sup> | 5.472%<br>(3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 4/15/2033 | 9120000 | 9135705 |
| Wellfleet CLO Ltd. Series 2021-2A Class CR<sup>†</sup> | 5.872%<br>(3 mo. USD Term SOFR + 2.20% |)<sup>#</sup> | 7/15/2034 | 13900000 | 13953751 |
| Wellington Management CLO 2 Ltd. Series 2024-2A Class A<sup>†</sup> | 5.218%<br>(3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 4/20/2037 | 3300000 | 3308174 |
| Wellington Management CLO 2 Ltd. Series 2024-2A Class E<sup>†</sup> | 10.568%<br>(3 mo. USD Term SOFR + 6.90% |)<sup>#</sup> | 4/20/2037 | 500000 | 507509 |
| Whitebox CLO I Ltd. Series 2019-1A Class A1R3<sup>†</sup> | 4.848%<br>(3 mo. USD Term SOFR + 1.18% |)<sup>#</sup> | 1/24/2037 | 10565000 | 10572079 |
| Whitebox CLO III Ltd. Series 2021-3A Class A1R<sup>†</sup> | 4.942%<br>(3 mo. USD Term SOFR + 1.27% |)<sup>#</sup> | 10/15/2035 | 9320000 | 9325946 |
| Whitebox CLO IV Ltd. Series 2023-4A Class A2R<sup>†</sup> | 5.468%<br>(3 mo. USD Term SOFR + 1.80% |)<sup>#</sup> | 4/20/2036 | 16000000 | 16032848 |
| Whitebox CLO IV Ltd. Series 2023-4A Class ER<sup>†</sup> | 10.148%<br>(3 mo. USD Term SOFR + 6.48% |)<sup>#</sup> | 4/20/2036 | 1160000 | 1173120 |

---

40 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Other (continued)** |  |  |  |  |  |
| Wind River CLO Ltd. Series 2021-4A Class AR<sup>†</sup> | 4.90%<br>(3 mo. USD Term SOFR + 1.23% |)<sup>#</sup> | 1/20/2035 | $19050000 | $19088252 |
| Wind River CLO Ltd. Series 2022-1A Class AR<sup>†</sup> | 5.018%<br>(3 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 7/20/2035 | 6300000 | 6302369 |
| Wind River CLO Ltd. Series 2024-1A Class A<sup>†</sup> | 5.268%<br>(3 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 4/20/2037 | 18700000 | 18744562 |
| Wise CLO Ltd. Series 2025-2A Class C<sup>†</sup> | 5.968%<br>(3 mo. USD Term SOFR + 2.30% |)<sup>#</sup> | 4/20/2038 | 7000000 | 7032949 |
| Zais CLO 17 Ltd. Series 2021-17A Class A1R<sup>†</sup> | 5.218%<br>(3 mo. USD Term SOFR + 1.55% |)<sup>#</sup> | 10/20/2037 | 3900000 | 3906509 |
| Zaxbys Funding LLC Series 2021-1A Class A2<sup>†</sup> | 3.238% |  | 7/30/2051 | 3530635 | 3369566 |
| *Total* |  |  |  |  | 2364136857 |
| *Total Asset-Backed Securities* (cost $2,820,802,569) | *Total Asset-Backed Securities* (cost $2,820,802,569) |  |  |  | 2824833558 |
| **CORPORATE BONDS 7.43%** |  |  |  |  |  |
| **Auto Manufacturers 0.73%** |  |  |  |  |  |
| Ford Motor Credit Co. LLC | 5.711%<br>(SOFR + 2.03% |)<sup>#</sup> | 3/20/2028 | 3000000 | 3032359 |
| General Motors Financial Co., Inc. | 4.956%<br>(SOFR + 1.29% |)<sup>#</sup> | 1/7/2030 | 10000000 | 10013690 |
| Hyundai Capital America<sup>†</sup> | 5.03%<br>(SOFR + 1.35% |)<sup>#</sup> | 3/27/2030 | 9000000 | 9128323 |
| Nissan Motor Acceptance Co. LLC<sup>†</sup> | 5.734%<br>(SOFR + 2.05% |)<sup>#</sup> | 9/13/2027 | 5416000 | 5393553 |
| *Total* |  |  |  |  | 27567925 |
| **Banks 4.46%** |  |  |  |  |  |
| ABN AMRO Bank NV (Netherlands)<sup>†(e)</sup> | 5.462%<br>(SOFR + 1.78% |)<sup>#</sup> | 9/18/2027 | 700000 | 705824 |
| ANZ New Zealand International Ltd. (United Kingdom)<sup>†(e)(f)</sup> | 4.407%<br>(SOFR + 0.75% |)<sup>#</sup> | 1/22/2031 | 6667000 | 6685168 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>†(e)</sup> | 4.292%<br>(SOFR + 0.59% |)<sup>#</sup> | 12/8/2028 | 2493000 | 2501443 |
| Bank of Montreal (Canada)<sup>(e)</sup> | 4.574%<br>(SOFR + 0.88% |)<sup>#</sup> | 9/10/2027 | 1000000 | 1002641 |
| Bank of Nova Scotia (Canada)<sup>(e)</sup> | 4.746%<br>(SOFR + 1.08% |)<sup>#</sup> | 8/1/2029 | 1570000 | 1588634 |
| BPCE SA (France)<sup>†(e)</sup> | 5.646%<br>(SOFR + 1.98% |)<sup>#</sup> | 10/19/2027 | 250000 | 252415 |

---

See Notes to Financial Statements. 41

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Banks (continued)** |  |  |  |  |  |
| Canadian Imperial Bank of Commerce (Canada)<sup>(e)</sup> | 4.62%<br>(SOFR + 0.93% |)<sup>#</sup> | 9/11/2027 | $938000 | $940847 |
| Citibank NA | 4.851%<br>(SOFR + 1.12% |)<sup>#</sup> | 5/29/2030 | 6481000 | 6586251 |
| Citigroup, Inc. | 4.69%<br>(3 mo. USD Term SOFR + 0.81% |)<sup>#</sup> | 8/25/2036 | 10696000 | 9679008 |
| Citigroup, Inc. | 4.861%<br>(SOFR + 1.17% |)<sup>#</sup> | 9/11/2031 | 9250000 | 9385366 |
| Deutsche Bank AG | 5.135%<br>(SOFR + 1.30% |)<sup>#</sup> | 8/4/2031 | 4703000 | 4734610 |
| Goldman Sachs Group, Inc. | 4.746%<br>(SOFR + 1.08% |)<sup>#</sup> | 1/28/2031 | 20859000 | 21040602 |
| Goldman Sachs Group, Inc. | 4.956%<br>(SOFR + 1.29% |)<sup>#</sup> | 4/23/2028 | 3877000 | 3910579 |
| Goldman Sachs Group, Inc. | 5.534%<br>(SOFR + 1.85% |)<sup>#</sup> | 3/15/2028 | 1633000 | 1654507 |
| HSBC Holdings PLC (United Kingdom)<sup>(e)</sup> | 4.777%<br>(SOFR + 1.03% |)<sup>#</sup> | 3/3/2029 | 5000000 | 5024546 |
| Huntington National Bank | 4.386%<br>(SOFR + 0.72% |)<sup>#</sup> | 4/12/2028 | 3777000 | 3780403 |
| JPMorgan Chase & Co. | 4.466%<br>(SOFR + 0.80% |)<sup>#</sup> | 1/24/2029 | 5000000 | 5017272 |
| JPMorgan Chase & Co. | 4.596%<br>(SOFR + 0.93% |)<sup>#</sup> | 7/22/2028 | 1967000 | 1978481 |
| Lloyds Banking Group PLC (United Kingdom)<sup>(e)</sup> | 4.824%<br>(SOFR + 1.06% |)<sup>#</sup> | 11/26/2028 | 5000000 | 5032144 |
| Lloyds Banking Group PLC (United Kingdom)<sup>(e)</sup> | 4.957%<br>(SOFR + 1.10% |)<sup>#</sup> | 11/4/2031 | 17660000 | 17730883 |
| Morgan Stanley | 4.586%<br>(SOFR + 0.92% |)<sup>#</sup> | 10/18/2029 | 10000000 | 10055075 |
| Morgan Stanley | 5.046%<br>(SOFR + 1.38% |)<sup>#</sup> | 4/12/2029 | 6000000 | 6085312 |
| Morgan Stanley Bank NA | 4.607%<br>(SOFR + 0.87% |)<sup>#</sup> | 5/26/2028 | 800000 | 803138 |
| National Australia Bank Ltd. (Australia)<sup>†(e)</sup> | 4.257%<br>(SOFR + 0.60% |)<sup>#</sup> | 10/26/2027 | 781000 | 784753 |
| NatWest Group PLC (United Kingdom)<sup>(e)</sup> | 5.102%<br>(SOFR + 1.30% |)<sup>#</sup> | 11/15/2028 | 200000 | 201815 |
| NatWest Markets PLC (United Kingdom)<sup>†(e)</sup> | 4.631%<br>(SOFR + 0.95% |)<sup>#</sup> | 3/21/2028 | 3959000 | 3988762 |

---

42 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Banks (continued)** |  |  |  |  |  |
| NatWest Markets PLC (United Kingdom)<sup>†(e)</sup> | 4.926%<br>(SOFR + 1.14% |)<sup>#</sup> | 5/17/2029 | $5528000 | $5585179 |
| Societe Generale SA (France)<sup>†(e)</sup> | 4.871%<br>(SOFR + 1.10% |)<sup>#</sup> | 2/19/2027 | 710000 | 713474 |
| Standard Chartered PLC (United Kingdom)<sup>†(e)</sup> | 4.586%<br>(SOFR + 0.92% |)<sup>#</sup> | 1/13/2030 | 10000000 | 10021257 |
| Swedbank AB (Sweden)<sup>†(e)</sup> | 4.797%<br>(SOFR + 1.03% |)<sup>#</sup> | 11/20/2029 | 1824000 | 1850752 |
| Toronto-Dominion Bank (Canada)<sup>(e)</sup> | 4.486%<br>(SOFR + 0.82% |)<sup>#</sup> | 1/31/2028 | 2413000 | 2426658 |
| Toronto-Dominion Bank (Canada)<sup>(e)</sup> | 4.713%<br>(SOFR + 1.03% |)<sup>#</sup> | 12/17/2029 | 4000000 | 4033667 |
| U.S. Bank NA | 4.696%<br>(SOFR + 0.91% |)<sup>#</sup> | 5/15/2028 | 7007000 | 7043638 |
| Wells Fargo & Co. | 5.036%<br>(SOFR + 1.37% |)<sup>#</sup> | 4/23/2029 | 5000000 | 5084621 |
| *Total* |  |  |  |  | 167909725 |
| **Diversified Financial Services 0.59%** |  |  |  |  |  |
| American Express Co. | 4.686%<br>(SOFR + 1.02% |)<sup>#</sup> | 1/30/2031 | 6000000 | 6034229 |
| American Express Co. | 4.927%<br>(SOFR + 1.26% |)<sup>#</sup> | 4/25/2029 | 6000000 | 6078072 |
| Bread Financial Holdings, Inc.<sup>†</sup> | 6.75% |  | 5/15/2031 | 8823000 | 9097625 |
| ILFC E-Capital Trust I<sup>†</sup> | 6.35% | <sup>#</sup> | 12/21/2065 | 1035000 | 891653 |
| *Total* |  |  |  |  | 22101579 |
| **Health Care-Services 0.03%** |  |  |  |  |  |
| HCA, Inc. | 4.612%<br>(SOFR + 0.87% |)<sup>#</sup> | 3/1/2028 | 1134000 | 1138887 |
| **Insurance 0.39%** |  |  |  |  |  |
| Athene Global Funding<sup>†</sup> | 4.496%<br>(SOFR + 0.83% |)<sup>#</sup> | 1/7/2027 | 3000000 | 3006108 |
| Corebridge Global Funding<sup>†</sup> | 4.416%<br>(SOFR + 0.75% |)<sup>#</sup> | 1/7/2028 | 2071000 | 2071987 |
| F&G Global Funding<sup>†</sup> | 5.031%<br>(SOFR + 1.33% |)<sup>#</sup> | 9/8/2028 | 7355000 | 7413698 |
| Jackson National Life Global Funding<sup>†</sup> | 4.636%<br>(SOFR + 0.97% |)<sup>#</sup> | 1/14/2028 | 2161000 | 2172918 |
| *Total* |  |  |  |  | 14664711 |

---

See Notes to Financial Statements. 43

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Mining 0.15%** |  |  |  |  |
| Glencore Funding LLC<sup>†</sup> | 4.425%<br>(SOFR + 0.75% | 10/1/2026 | $2064000 | $2068420 |
| Glencore Funding LLC<sup>†</sup> | 4.735%<br>(SOFR + 1.06% | 4/4/2027 | 1737000 | 1745552 |
| Rio Tinto Finance USA PLC (United Kingdom)<sup>(e)</sup> | 4.524%<br>(SOFR + 0.84% | 3/14/2028 | 1844000 | 1859628 |
| Total |  |  |  | 5673600 |
| **Multi-National 0.37%** |  |  |  |  |
| European Bank for Reconstruction & Development (United Kingdom)<sup>(e)</sup> | 4.116%<br>(SOFR + 0.33% | 2/20/2028 | 14000000 | 14014956 |
| **Oil & Gas 0.30%** |  |  |  |  |
| Chevron USA, Inc. | 4.486%<br>(SOFR + 0.82% | 10/15/2030 | 11156000 | 11260425 |
| **REITS 0.11%** |  |  |  |  |
| Vornado Realty LP | 5.75% | 2/1/2033 | 4179000 | 4227956 |
| **Software 0.14%** |  |  |  |  |
| Oracle Corp. | 4.602%<br>(SOFR + 0.76% | 8/3/2028 | 5177000 | 5093038 |
| **Telecommunications 0.16%** |  |  |  |  |
| NTT Finance Corp. (Japan)<sup>†(e)</sup> | 4.968%<br>(SOFR + 1.31% | 7/16/2030 | 6000000 | 6105883 |
| *Total Corporate Bonds* (cost $277,737,865) |  |  |  | 279758685 |
| **FLOATING RATE LOANS**<sup>(g)</sup> **7.98%** |  |  |  |  |
| **Aerospace & Defense 0.20%** |  |  |  |  |
| TransDigm, Inc. 2025 Term Loan K | 5.922%<br> (1 mo. USD Term SOFR + 2.25% | 3/22/2030 | 7670775 | 7672693 |
| **Airlines 0.30%** |  |  |  |  |
| American Airlines, Inc. 2025 Term Loan | 5.918%<br>(3 mo. USD Term SOFR + 2.25% | 4/20/2028 | 7472343 | 7487923 |
| Vista Management Holding, Inc. 2025 Term Loan B | 7.411%<br>(3 mo. USD Term SOFR + 3.75% | 4/1/2031 | 3960000 | 3977325 |
| Total |  |  |  | 11465248 |

---

44 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Auto Parts & Equipment 0.16%** |  |  |  |  |
| Clarios Global LP 2024 USD Term Loan B (Canada)<sup>(e)</sup> | 6.172%<br> (1 mo. USD Term SOFR + 2.50%) | 5/6/2030 | $5969849 | $5974536 |
| **Chemicals 0.11%** |  |  |  |  |
| Solstice Advanced Materials, Inc. Term Loan B | 5.417%<br>(3 mo. USD Term SOFR + 1.75%) | 10/29/2032 | 4000000 | 4023760 |
| **Commercial Services 0.36%** |  |  |  |  |
| Albion Financing 3 SARL 2025 USD Term Loan (Luxembourg)<sup>(e)</sup> | – <sup>(c)</sup> | 5/21/2031 | 8579000 | 8556223 |
| Garda World Security Corp. 2026 Term Loan B <br>(Canada)<sup>(e)</sup> | 6.421%<br>(3 mo. USD Term SOFR + 2.75%) | 2/1/2029 | 4950000 | 4950000 |
| *Total* |  |  |  | 13506223 |
| **Computers 0.11%** |  |  |  |  |
| Surf Holdings LLC 2025 Incremental Term Loan | – <sup>(c)</sup> | 3/5/2027 | 4000000 | 3971760 |
| **Consumer Cyclicals 0.27%** |  |  |  |  |
| Lowes Cos., Inc. Delayed Draw Term Loan | – <sup>(c)</sup> | 9/15/2028 | 10000000 | 9962500 |
| **Diversified Financial Services 1.42%** |  |  |  |  |
| Atlas Warehouse Lending Co. LP Term Loan | 5.175%<br>(1 mo. USD Term SOFR + 1.50%) | 4/10/2026 | 13000000 | 13065000 |
| Avolon TLB Borrower 1 U.S. LLC 2023 Term Loan B6 | 5.421%<br>(1 mo. USD Term SOFR + 1.75%) | 6/24/2030 | 7624980 | 7665888 |
| Citadel Securities LP 2024 First Lien Term Loan | 5.672%<br>(3 mo. USD Term SOFR + 2.00%) | 10/31/2031 | 178940 | 179412 |
| Citadel Securities LP 2024 Term Loan B | 5.672%<br>(1 mo. USD Term SOFR + 2.00%) | 7/29/2030 | 99001 | 99262 |
| DRW Holdings LLC 2024 Term Loan B | 7.172%<br>(1 mo. USD Term SOFR + 3.50%) | 6/26/2031 | 6921440 | 6841428 |
| Guggenheim Partners LLC 2024 Term Loan B | 6.172%<br>(3 mo. USD Term SOFR + 2.50%) | 11/26/2031 | 8825314 | 8847377 |
| Hudson River Trading LLC 2026 Repriced |  |  |  |  |
| Term Loan B | 6.173%<br>(1 mo. USD Term SOFR + 2.50%) | 3/18/2030 | 10686078 | 10660485 |
| Jane Street Group LLC 2024 Term Loan B1 | 5.822%<br>(3 mo. USD Term SOFR + 2.00%) | 12/15/2031 | 6061785 | 6025414 |
| *Total* |  |  |  | 53384266 |

---

See Notes to Financial Statements. 45

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Electric 0.54%** |  |  |  |  |
| NRG Energy, Inc. 2024 Term Loan | 5.521% - 5.52% |  |  |  |
|  | (1 mo. USD Term SOFR + 1.75%) |  |  |  |
|  | (3 mo. USD Term SOFR + 1.75%) | 4/16/2031 | $13043332 | $13074310 |
| Vistra Operations Co. LLC 1st Lien Term Loan B3 | 5.422%<br>(1 mo. USD Term SOFR + 1.75%) | 12/20/2030 | 7165608 | 7185206 |
| Total |  |  |  | 20259516 |
| **Electronics 0.23%** |  |  |  |  |
| Amphenol Corp. Term Loan | – <sup>(c)</sup> | 8/22/2028 | 6779000 | 6753579 |
| Honeywell International, Inc. Term Loan A1 | 4.547%<br>(1 mo. USD Term SOFR + 0.88%) | 5/7/2027 | 2062500 | 2065078 |
| Total |  |  |  | 8818657 |
| **Entertainment 0.00%** |  |  |  |  |
| GVC Holdings Gibraltar Ltd. 2024 EUR Term Loan B4 | 5.519%<br>(3 mo. EURIBOR + 3.50%) | 6/30/2028 | 44146 | 52763 |
| **Environmental Control 0.41%** |  |  |  |  |
| GFL Environmental, Inc. 2025 Term Loan B (Canada)<sup>(e)</sup> | 6.273%<br>(3 mo. USD Term SOFR + 2.50%) | 3/3/2032 | $3990000 | 3996664 |
| Madison IAQ LLC 2025 Repriced Term Loan | 6.378%<br> (6 mo. USD Term SOFR + 2.75%) | 11/8/2032 | 4487822 | 4502205 |
| Reworld Holding Corp. 2025 1st Lien Term Loan B | 5.923%<br>(1 mo. USD Term SOFR + 2.25%) | 1/15/2031 | 6900000 | 6903243 |
| Total |  |  |  | 15402112 |
| **Food 0.18%** |  |  |  |  |
| Chobani LLC 2025 Term Loan B | 5.922%<br>(1 mo. USD Term SOFR + 2.25%) | 10/28/2032 | 6800000 | 6823800 |
| **Health Care Products 0.09%** |  |  |  |  |
| Elanco Animal Health, Inc. 2025 Term Loan B | 5.45%<br>(1 mo. USD Term SOFR + 1.75%) | 10/31/2032 | 3500000 | 3504813 |
| **Health Care Services 0.07%** |  |  |  |  |
| Surgery Center Holdings, Inc. 2025 Term Loan B | 6.172%<br>(1 mo. USD Term SOFR + 2.50%) | 12/19/2030 | 2493734 | 2500442 |

---

46 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Household Equipment/Products 0.21%** |  |  |  |  |
| GC Ferry Acquisition I, Inc. Delayed Draw Term Loan<sup>(h)</sup> | – <sup>(c)</sup> | 8/16/2032 | $1152083 | $1144704 |
| GC Ferry Acquisition I, Inc. Term Loan | 7.172%<br>(3 mo. USD Term SOFR + 3.50%) | 8/16/2032 | 6747917 | 6704696 |
| Total |  |  |  | 7849400 |
| **Household Products 0.12%** |  |  |  |  |
| Reynolds Consumer Products LLC 2025 Term Loan B | 5.422%<br>(1 mo. USD Term SOFR + 1.75%) | 3/4/2032 | 4593318 | 4632361 |
| **Insurance 0.13%** |  |  |  |  |
| Asurion LLC 2023 Term Loan B11 | 8.022%<br>(1 mo. USD Term SOFR + 4.25%) | 8/19/2028 | 4987180 | 5001193 |
| **Internet 0.09%** |  |  |  |  |
| Gen Digital, Inc. 2024 Term Loan B | – <sup>(c)</sup> | 9/12/2029 | 3410089 | 3380250 |
| **Leisure Time 0.16%** |  |  |  |  |
| Peloton Interactive, Inc. 2024 Term Loan B | 9.172%<br>(1 mo. USD Term SOFR + 5.50%) | 5/30/2029 | 5914951 | 5994448 |
| **Machinery: Diversified 0.35%** |  |  |  |  |
| CompoSecure Holdings LLC Term Loan | 5.928%<br>(1 mo. USD Term SOFR + 2.25%) | 1/14/2033 | 7223000 | 7218522 |
| INNIO Group Holding GmbH 2025 Term Loan B2 <br>(Austria)<sup>(e)</sup> | 5.925%<br>(1 mo. USD Term SOFR + 2.25%) | 11/2/2028 | 6021000 | 6029790 |
| Total |  |  |  | 13248312 |
| **Media 0.62%** |  |  |  |  |
| Charter Communications Operating LLC 2023 Term Loan B4 | 5.661%<br>(3 mo. USD Term SOFR + 2.00%) | 12/7/2030 | 6555828 | 6547338 |
| Charter Communications Operating LLC 2024 Term Loan B5 | 5.911%<br>(3 mo. USD Term SOFR + 2.25%) | 12/15/2031 | 8783788 | 8782822 |
| Virgin Media Bristol LLC 2020 USD Term Loan Q | 7.045%<br>(1 mo. USD Term SOFR + 3.25%) | 1/31/2029 | 6000000 | 6001140 |
| Virgin Media Bristol LLC 2023 USD Term Loan Y | – <sup>(c)</sup> | 3/31/2031 | 2000000 | 1969370 |
| Total |  |  |  | 23300670 |

---

See Notes to Financial Statements. 47

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | Principal<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Oil & Gas 0.15%** |  |  |  |  |
| Hilcorp Energy I LP Term Loan B | 5.425%<br>(1 mo. USD Term SOFR + 1.75%) | 2/11/2030 | $5667974 | $5682144 |
| **Pharmaceuticals 0.25%** |  |  |  |  |
| Alkermes, Inc. 2026 Term Loan B | – <sup>(c)</sup> | 1/28/2031 | 1707000 | 1715535 |
| Organon & Co. 2024 USD Term Loan | – <sup>(c)</sup> | 5/19/2031 | 8000000 | 7770000 |
| *Total* |  |  |  | 9485535 |
| **Pipelines 0.19%** |  |  |  |  |
| Colossus Acquireco LLC Term Loan B | 5.41%<br>(3 mo. CME Term SOFR + 1.75%) | 7/30/2032 | 3733750 | 3724808 |
| Gray Oak Pipeline LLC Delayed Draw Term Loan | 5.022%<br>(3 mo. USD Term SOFR + 1.35%) | 10/14/2026 | 3500000 | 3496503 |
| *Total* |  |  |  | 7221311 |
| **Real Estate Investment Trusts 0.34%** |  |  |  |  |
| Blackstone Mortgage Trust, Inc. 2025 Term Loan B | 6.172%<br>(1 mo. USD Term SOFR + 2.50%) | 12/20/2032 | 3800000 | 3800019 |
| Blackstone Mortgage Trust, Inc. 2026 Repriced Term Loan | 6.172%<br>(1 mo. USD Term SOFR + 2.50%) | 12/10/2030 | 3391252 | 3394083 |
| Host Hotels & Resorts LP 2023 Term Loan A2 | 4.572%<br>(1 mo. USD Term SOFR + 0.90%) | 1/4/2028 | 917000 | 909550 |
| Invitation Homes Operating Partnership LP 2024 Term Loan | 4.63%<br>(1 mo. USD Term SOFR + 0.85%) | 9/9/2028 | 4632000 | 4632000 |
| *Total* |  |  |  | 12735652 |
| **Retail 0.39%** |  |  |  |  |
| Great Outdoors Group LLC 2025 Term Loan B | 6.922%<br>(1 mo. USD Term SOFR + 3.25%) | 1/23/2032 | 3982368 | 3987844 |
| Murphy USA, Inc. Term Loan B | 5.45%<br>(1 mo. USD Term SOFR + 1.75%) | 4/7/2032 | 3196987 | 3230955 |
| Peer Holding III BV 2025 USD Term Loan B (Netherlands)<sup>(e)</sup> | 5.922%<br>(3 mo. USD Term SOFR + 2.25%) | 9/29/2032 | 7400000 | 7411581 |
| *Total* |  |  |  | 14630380 |
| **Software 0.20%** |  |  |  |  |
| AthenaHealth Group, Inc. 2022 Term Loan B | – <sup>(c)</sup> | 2/15/2029 | 3750000 | 3708206 |
| UKG, Inc. 2024 Term Loan B | – <sup>(c)</sup> | 2/10/2031 | 4000000 | 3909160 |
| *Total* |  |  |  | 7617366 |

---

48 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal<br> Amount<sup>‡</sup>** | **Principal<br> Amount<sup>‡</sup>** | **Fair<br> Value** | **Fair<br> Value** |
| **Transportation 0.14%** |  |  |  |  |  |  |
| Rand Parent LLC 2025 Term Loan B | 6.672%<br> (3 mo. USD Term SOFR + 3.00% | 3/18/2030 | $| 5259375 | $| 5277441 |
| **Utilities 0.19%** |  |  |  |  |  |  |
| Talen Energy Supply LLC 2025 Term Loan B | 5.672%<br> (3 mo. USD Term SOFR + 2.00% | 11/25/2032 |  | 7200000 |  | 7210800 |
| *Total Floating Rate Loans* (cost $300,666,210) |  |  |  |  |  | 300590352 |
| **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** | **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** | **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** | **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** | **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** | **FOREIGN GOVERNMENT OBLIGATIONS<sup>(e)</sup> 0.01%** |  |
| **South Korea 0.01%** |  |  |  |  |  |  |
| Korea National Oil Corp.<sup>†</sup> (cost $302,000) | 4.57%<br> (SOFR + 0.90% | 9/30/2027 |  | 302000 |  | 304000 |
| **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 1.32%** |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA2 Class B2<sup>†</sup> | 12.197%<br> (30 day USD SOFR Average + 8.50% | 2/25/2042 |  | 1720000 |  | 1840059 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA3 Class M2<sup>†</sup> | 8.047%<br> (30 day USD SOFR Average + 4.35% | 4/25/2042 |  | 9500000 |  | 9882496 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA2 Class A1<sup>†</sup> | 4.947%<br> (30 day USD SOFR Average + 1.25% | 5/25/2044 |  | 4649310 |  | 4670505 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-HQA1 Class A1<sup>†</sup> | 4.947%<br> (30 day USD SOFR Average + 1.25% | 3/25/2044 |  | 11414308 |  | 11478717 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-HQA2 Class A1<sup>†</sup> | 4.947%<br> (30 day USD SOFR Average + 1.25% | 8/25/2044 |  | 3266666 |  | 3280561 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA1 Class A1<sup>†</sup> | 4.647%<br> (30 day USD SOFR Average + 0.95% | 1/25/2045 |  | 989750 |  | 991486 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2B2<sup>†</sup> | 11.347%<br> (30 day USD SOFR Average + 7.65% | 1/25/2042 |  | 3117000 |  | 3297367 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R06 Class 1B2<sup>†</sup> | 14.297%<br> (30 day USD SOFR Average + 10.60% | 5/25/2042 |  | 5027000 |  | 5595958 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R07 Class 1B2<sup>†</sup> | 15.697%<br> (30 day USD SOFR Average + 12.00% | 6/25/2042 |  | 1128300 |  | 1281551 |

---

*See Notes to Financial Statements.* 49

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** | **Fair<br> Value** |
| **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M2<sup>†</sup> | 7.447%<br> (30 day USD SOFR Average + 3.75% |)<sup>#</sup> | 12/25/2042 | $| 4750000 | $| 4969565 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06 Class 1A1<sup>†</sup> | 4.847%<br> (30 day USD SOFR Average + 1.15% |)<sup>#</sup> | 9/25/2044 |  | 450871 |  | 452198 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R05 Class 2A1<sup>†</sup> | 4.697%<br> (30 day USD SOFR Average + 1.00% |)<sup>#</sup> | 7/25/2045 |  | 1965318 |  | 1968214 |
| *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations* (cost $49,948,752) |  | 49708677 |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.74%** |
| 1301 Trust Series 2025-1301 Class A<sup>†</sup> | 5.059% | <sup>#(i)</sup> | 8/11/2042 |  | 6700000 |  | 6812377 |
| 1345 Trust Series 2025-AOA Class A<sup>†</sup> | 5.28%<br> (1 mo. USD Term SOFR + 1.60% |)<sup>#</sup> | 6/15/2042 |  | 2660000 |  | 2673864 |
| ALA Trust Series 2025-OANA Class A<sup>†</sup> | 5.424%<br> (1 mo. USD Term SOFR + 1.74% |)<sup>#</sup> | 6/15/2040 |  | 3320000 |  | 3351940 |
| Arbor Realty Collateralized Loan Obligation Ltd. Series 2025-BTR1 Class A<sup>†</sup> | 5.598%<br> (1 mo. USD Term SOFR + 1.93% |)<sup>#</sup> | 1/20/2041 |  | 3570000 |  | 3584927 |
| Arbor Realty Commercial Real Estate Notes LLC Series 2025-FL1 Class A<sup>†</sup> | 5.029%<br> (1 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 1/20/2043 |  | 3120000 |  | 3124696 |
| Arbor Realty Commercial Real Estate Notes LLC Series 2025-FL1 Class AS<sup>†</sup> | 5.508%<br> (1 mo. USD Term SOFR + 1.83% |)<sup>#</sup> | 1/20/2043 |  | 3520000 |  | 3540808 |
| ARDN Mortgage Trust Series 2025-ARCP Class A<sup>†</sup> | 5.43%<br> (1 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 6/15/2035 |  | 2130000 |  | 2140122 |
| BHMS Commercial Mortgage Trust Series 2025-ATLS Class A<sup>†</sup> | 5.53%<br> (1 mo. USD Term SOFR + 1.85% |)<sup>#</sup> | 8/15/2042 |  | 4100000 |  | 4133051 |
| BSPRT Issuer LLC Series 2025-FL12 Class A<sup>†</sup> | 5.061%<br> (1 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 1/17/2043 |  | 8500000 |  | 8523378 |
| BX Commercial Mortgage Trust Series 2019-IMC Class A<sup>†</sup> | 4.726%<br> (1 mo. USD Term SOFR + 1.05% |)<sup>#</sup> | 4/15/2034 |  | 9426263 |  | 9392668 |
| BX Commercial Mortgage Trust Series 2025-BCAT Class A<sup>†</sup> | 5.06%<br> (1 mo. USD Term SOFR + 1.38% |)<sup>#</sup> | 8/15/2042 |  | 3679814 |  | 3689414 |

---

<br> 50 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** |
| BX Commercial Mortgage Trust Series 2025-COPT Class A<sup>†</sup> | 5.43%<br> (1 mo. USD Term SOFR + 1.75% |)<sup>#</sup> | 8/15/2042 | $2420000 | $2433118 |
| BX Trust Series 2021-RISE Class B<sup>†</sup> | 5.045%<br> (1 mo. USD Term SOFR + 1.36% |)<sup>#</sup> | 11/15/2036 | 6143146 | 6144843 |
| BX Trust Series 2025-ARIA Class A<sup>†</sup> | 5.031% | <sup>#(i)</sup> | 12/13/2042 | 4440000 | 4519916 |
| BX Trust Series 2025-LUNR Class A<sup>†</sup> | 5.18%<br> (1 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 6/15/2040 | 12132932 | 12169117 |
| BX Trust Series 2025-ROIC Class A<sup>†</sup> | 4.824%<br> (1 mo. USD Term SOFR + 1.14% |)<sup>#</sup> | 3/15/2030 | 6339591 | 6351865 |
| BX Trust Series 2025-TAIL Class A<sup>†</sup> | 5.08%<br> (1 mo. USD Term SOFR + 1.40% |)<sup>#</sup> | 6/15/2035 | 2400000 | 2404754 |
| BX Trust Series 2025-VOLT Class A<sup>†</sup> | 5.38%<br> (1 mo. USD Term SOFR + 1.70% |)<sup>#</sup> | 12/15/2044 | 14800000 | 14894448 |
| BX Trust Series 2025-VOLT Class D<sup>†</sup> | 6.43%<br> (1 mo. USD Term SOFR + 2.75% |)<sup>#</sup> | 12/15/2044 | 3980000 | 4005728 |
| CONE Trust Series 2024-DFW1 Class A<sup>†</sup> | 5.322%<br> (1 mo. USD Term SOFR + 1.64% |)<sup>#</sup> | 8/15/2041 | 5613000 | 5620411 |
| DBC Mortgage Trust Series 2025-DBC Class A<sup>†</sup> | 5.031%<br> (1 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 11/15/2042 | 18380000 | 18439889 |
| DBC Mortgage Trust Series 2025-DBC Class D<sup>†</sup> | 6.281%<br> (1 mo. USD Term SOFR + 2.60% |)<sup>#</sup> | 11/15/2042 | 2670000 | 2680251 |
| GS Mortgage Securities Trust Series 2018-GS10 Class AS | 4.384% | <sup>#(i)</sup> | 7/10/2051 | 10008937 | 9880341 |
| JW Commercial Mortgage Trust Series 2024-MRCO Class A<sup>†</sup> | 5.301%<br> (1 mo. USD Term SOFR + 1.62% |)<sup>#</sup> | 6/15/2039 | 1300000 | 1304796 |
| LoanCore Issuer Ltd. Series 2025-CRE8 Class A<sup>†</sup> | 5.06%<br> (1 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 8/17/2042 | 8030000 | 8051388 |
| MAD Commercial Mortgage Trust Series 2025-11MD Class C<sup>†</sup> | 5.818% | <sup>#(i)</sup> | 10/15/2042 | 5925000 | 5982249 |
| NRTH Commercial Mortgage Trust Series 2025-PARK Class A<sup>†</sup> | 5.074%<br> (1 mo. USD Term SOFR + 1.39% |)<sup>#</sup> | 10/15/2040 | 2540000 | 2551429 |
| NYC Commercial Mortgage Trust Series 2026-1PARK Class A<sup>†(b)</sup> | 4.95%<br> (1 mo. USD Term SOFR + 1.25% |)<sup>#</sup> | 2/15/2043 | 8300000 | 8307055 |
| ONE Mortgage Trust Series 2021-PARK Class A<sup>†</sup> | 4.495%<br> (1 mo. USD Term SOFR + 0.81% |)<sup>#</sup> | 3/15/2036 | 7889424 | 7878391 |

---

*See Notes to Financial Statements.* 51

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal<br> Amount**<sup>‡</sup> | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)** |
| PFP Ltd. Series 2025-12 Class A<sup>†</sup> | 5.163%<br> (1 mo. USD Term SOFR + 1.49% |)<sup>#</sup> | 12/18/2042 | $| 9040000 | $9076059 |
| PFP Ltd. Series 2025-12 Class B<sup>†</sup> | 5.715%<br> (1 mo. USD Term SOFR + 2.04% |)<sup>#</sup> | 12/18/2042 |  | 5100000 | 5117534 |
| PFP Ltd. Series 2026-13 Class A<sup>†</sup> | 5.25%<br> (1 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 8/18/2043 |  | 3550000 | 3566764 |
| SCG Trust Series 2025-SNIP Class A<sup>†</sup> | 5.18%<br> (1 mo. USD Term SOFR + 1.50% |)<sup>#</sup> | 9/15/2042 |  | 3340000 | 3358813 |
| SHRN Trust Series 2025-MF18 Class A<sup>†</sup> | 4.88%<br> (1 mo. USD Term SOFR + 1.20% |)<sup>#</sup> | 10/15/2040 |  | 10000000 | 10024728 |
| SWCH Commercial Mortgage Trust Series 2025-DATA Class A<sup>†</sup> | 5.123%<br> (1 mo. USD Term SOFR + 1.44% |)<sup>#</sup> | 2/15/2042 |  | 8500000 | 8451488 |
| TCO Commercial Mortgage Trust Series 2024-DPM Class A<sup>†</sup> | 4.923%<br> (1 mo. USD Term SOFR + 1.24% |)<sup>#</sup> | 12/15/2039 |  | 4750000 | 4766798 |
| TEXAS Commercial Mortgage Trust Series 2025-TWR Class A<sup>†</sup> | 4.973%<br> (1 mo. USD Term SOFR + 1.29% |)<sup>#</sup> | 4/15/2042 |  | 6000000 | 6010830 |
| U.S. Bank C&I Credit-Linked Notes Series 2025-SUP2 Class C<sup>†</sup> | 5.597%<br> (30 day USD SOFR Average + 1.90% |)<sup>#</sup> | 9/25/2032 |  | 5640322 | 5634770 |
| U.S. Bank NA Series 2025-SUP1 Class B<sup>†</sup> | 5.582% |  | 2/25/2032 |  | 1869870 | 1887193 |
| U.S. Bank NA Series 2025-SUP1 Class D<sup>†</sup> | 6.397%<br> (30 day USD SOFR Average + 2.70% |)<sup>#</sup> | 2/25/2032 |  | 6855217 | 6910844 |
| Wells Fargo Commercial Mortgage Trust Series 2025-609M Class A<sup>†</sup> | 5.223%<br> (1 mo. USD Term SOFR + 1.54% |)<sup>#</sup> | 8/15/2042 |  | 5280000 | 5301062 |
| Wells Fargo Commercial Mortgage Trust Series 2025-B33RP Class A<sup>†</sup> | 5.03%<br> (1 mo. USD Term SOFR + 1.35% |)<sup>#</sup> | 8/15/2042 |  | 9290000 | 9308381 |
| *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | *Total Non-Agency Commercial Mortgage-Backed Securities* (cost $252,790,252) | 254002498 |
| **U.S. TREASURY OBLIGATIONS 3.26%** |  |  |  |  |  |  |
| U.S. Treasury Notes | 3.625% |  | 8/31/2027 |  | 117800000 | 117965656 |
| U.S. Treasury Notes | 4.25% |  | 8/15/2035 |  | 4596000 | 4600668 |
| *Total U.S. Treasury Obligations* (cost $122,675,575) | *Total U.S. Treasury Obligations* (cost $122,675,575) | *Total U.S. Treasury Obligations* (cost $122,675,575) | *Total U.S. Treasury Obligations* (cost $122,675,575) | *Total U.S. Treasury Obligations* (cost $122,675,575) | *Total U.S. Treasury Obligations* (cost $122,675,575) | 122566324 |
| *Total Long-Term Investments* (cost $3,824,923,223) | *Total Long-Term Investments* (cost $3,824,923,223) | *Total Long-Term Investments* (cost $3,824,923,223) | *Total Long-Term Investments* (cost $3,824,923,223) | *Total Long-Term Investments* (cost $3,824,923,223) | *Total Long-Term Investments* (cost $3,824,923,223) | 3831764094 |
| **SHORT-TERM INVESTMENTS 1.57%** |  |  |  |  |  |  |
| **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** | **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** | **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** | **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** | **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** | **GOVERNMENT SPONSORED ENTERPRISES SECURITIES 1.09%** |  |
| Federal Home Loan Bank Discount Notes (cost $41,296,001) | Zero Coupon |  | 2/2/2026 |  | 41300000 | 41288057 |

---

<br> 52 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal<br> Amount**<sup>‡</sup> | **Fair<br> Value** |
| **REPURCHASE AGREEMENTS 0.35%** |  |  |
| Repurchase Agreement dated 1/30/2026, 3.250% due 2/2/2026 with Fixed Income Clearing Corp. collateralized by $13,272,600 of U.S. Treasury Note at 3.750% due 4/30/2027; value: $13,427,834; proceeds: $13,168,020 <br> (cost $13,164,455) | $13164455 | $13164455 |
| **TIME DEPOSITS 0.01%** |  |  |
| CitiBank N.A.<sup>(j)</sup> (cost $489,250) | 489250 | 489250 |
|  | **Shares** |  |
| **MONEY MARKET FUNDS 0.12%** |  |  |
| Fidelity Government Portfolio<sup>(j)</sup> (cost $4,403,250) | 4403250 | 4403250 |
| *Total Short-Term Investments* (cost $59,352,956) |  | 59345012 |
| *Total Investments in Securities 103.30%* (cost $3,884,276,179) |  | 3891109106 |
| *Less Unfunded Loan Commitments (0.03%)* (cost $1,138,445) |  | (1144704) |
| *Net Investments in Securities 103.27%* (cost $3,883,137,734) |  | 3889964402 |
| *Other Assets and Liabilities – Net*<sup>(k)</sup> *(3.27)%* |  | (123200042) |
| *Net Assets 100.00%* |  | $3766764360 |

---

---

| | |
|:---|:---|
| CAD | Canadian Dollar. |
| EUR | Euro. |
| EURIBOR | Euro Interbank Offered Rate. |
| REITS | Real Estate Investment Trusts. |
| REMICS | Real Estate Mortgage Investment Conduits. |
| SOFR | Secured Overnight Financing Rate. |
| STACR | Structured Agency Credit Risk. |

---

---

| | |
|:---|:---|
| <sup>‡</sup> | Principal Amount is denominated in U.S. dollars unless otherwise noted. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2026, the total value of Rule 144A securities was $3,122,710,219, which represents 82.90% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at January 31, 2026. |
| <sup>(a)</sup> | Level 3 Investment as described in Note 2(a) in the Notes to Financial Statements. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. |
| <sup>(b)</sup> | Securities purchased on a when-issued basis (See Note 2(i)). |
| <sup>(c)</sup> | Interest Rate to be determined. |
| <sup>(d)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(e)</sup> | Foreign security traded in U.S. dollars. |
| <sup>(f)</sup> | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. |
| <sup>(g)</sup> | Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the SOFR or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at January 31, 2026. |
| <sup>(h)</sup> | Security partially/fully unfunded. See Note (2(l)). |
| <sup>(i)</sup> | Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool. |

---

*See Notes to Financial Statements.* 53

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

<sup>(j)</sup> Security was purchased with the cash collateral from loaned securities. <br> <sup>(k)</sup> Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

**Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Buy Protection at January 31, 2026**<sup>(1)</sup>**:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Referenced<br> Indexes/Issuers** | **Central<br> Clearing<br> Party** | **Fund Pays<br> (Quarterly)** | **Termination<br> Date** | **Notional<br> Amount** | **Payments<br> Upfront<sup>(2)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)<sup>(3)</sup>** | **Value** |
| CDX.NA.HY.S45<sup>(4)</sup> | Bank of America | 5.00% | 12/20/2030 | $58166460 | $(4060711) | $(822509) | $(4883220) |
| CDX.NA.IG.S45<sup>(4)</sup> | Bank of America | 1.00% | 12/20/2030 | 380310000 | (8154114) | (419199) | (8573313) |
| *Total* |  |  |  |  | $(12214825) | $(1241708) | $(13456533) |

---

**Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Sell Protection at January 31, 2026**<sup>(5)</sup>**:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Referenced<br> Indexes/Issuers | Central<br> Clearing<br> Party | Fund<br> Receives<br> (Quarterly) | Termination<br> Date | Notional<br> Amount | Payments<br> Upfront<sup>(2)</sup> | Unrealized<br> Appreciation/<br> (Depreciation)<sup>(3)</sup> | Value |
| Oracle Corp.<sup>(4)</sup> | Bank of America | 1.00% | 12/20/2027 | $10455000 | $13287 | $14728 | $28015 |

---

<sup>(1)</sup> If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap contracts and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.

<sup>(2)</sup> Upfront payments paid (received) are presented net of amortization.

<sup>(3)</sup> Total unrealized appreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $14,728. Total unrealized depreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $1,241,708.

<sup>(4)</sup> Central Clearinghouse: Intercontinental Exchange (ICE).

<sup>(5)</sup> If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.

<br> 54 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

**Centrally Cleared Interest Rate Swap Contracts at January 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Central<br> Clearingparty | Periodic<br> Payments<br> to be Made<br> By The Fund<br> (Quarterly) | Periodic<br> Payments<br> to be Received<br> By The Fund<br> (Quarterly) | Termination<br> Date | Notional<br> Amount | Payments<br> Upfront<sup>(1)</sup> | Unrealized<br> Appreciation/<br> (Depreciation) | Value |
| Bank of America<sup>(2)</sup> | 3.579% | 12-Month USD SOFR Index | 2/1/2033 | $4179000 | $(157) | $24618 | $24461 |
| Bank of America<sup>(2)</sup> | 3.380% | 12-Month USD SOFR Index | 1/15/2029 | 9000000 |  | 3500 | 3500 |
| Bank of America<sup>(2)</sup> | 3.301% | 12-Month USD SOFR Index | 8/31/2027 | 117800000 | 644 | 161274 | 161918 |
| Bank of America<sup>(2)</sup> | 3.220% | 12-Month USD SOFR Index | 10/24/2027 | 164000000 | 89189 | 363246 | 452435 |
| *Total* |  |  |  |  | $89676 | $552638 | $642314 |

---

SOFR Secured Overnight Financing Rate. <br> <sup>(1)</sup> Upfront payments paid (received) are presented net of amortization. <br> <sup>(2)</sup> Central Clearinghouse: Chicago Mercantile Exchange (CME).

**Forward Foreign Currency Exchange Contracts at January 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward<br> Foreign<br> Currency<br> Exchange <br> Contracts** | **Transaction<br> Type** | **Counterparty** | **Expiration<br> Date** | **Foreign<br> Currency** | **U.S. $ Cost on<br> Origination<br> Date** | **U.S. $ Current<br> Value** | **Unrealized<br> Depreciation** |
| Canadian dollar | Sell | Morgan Stanley | 4/17/2026 | 17961000 | $13076184 | $13231866 | $(155682) |

---

**Futures Contracts at January 31, 2026:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Type | Expiration | Contracts | Position | Notional<br> Amount | Notional<br> Value | Unrealized<br> Appreciation |
| U.S. 2-Year Treasury Note | March 2026 | 526 | Long | $109622250 | $109666891 | $44641 |
| U.S. 5-Year Treasury Note | March 2026 | 1366 | Long | 148554759 | 148797954 | 243195 |
| *Total Unrealized Appreciation on Futures Contracts* | *Total Unrealized Appreciation on Futures Contracts* | *Total Unrealized Appreciation on Futures Contracts* | *Total Unrealized Appreciation on Futures Contracts* | *Total Unrealized Appreciation on Futures Contracts* |  | $287836 |
| Type | Expiration | Contracts | Position | Notional<br> Amount | Notional<br> Value | Unrealized<br> Depreciation |
| U.S. 10-Year Treasury Note | March 2026 | 251 | Long | $28271142 | $28068859 | $(202283) |

---

*See Notes to Financial Statements.* 55

**Schedule of Investments (unaudited)(concluded)**

INVESTMENT GRADE FLOATING RATE FUND *January 31, 2026*

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | $– | $43554003 | $4624380 | $48178383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  | 2344327068 | 19809789 | 2364136857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries |  | 412518318 |  | 412518318 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds |  | 279758685 |  | 279758685 |
| &nbsp;&nbsp;&nbsp;Floating Rate Loans |  | 300590352 |  | 300590352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less Unfunded Loan Commitments |  | (1144704) |  | (1144704) |
| &nbsp;&nbsp;&nbsp;Foreign Government Obligations |  | 304000 |  | 304000 |
| &nbsp;&nbsp;&nbsp;Government Sponsored Enterprises Collateralized |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage Obligations |  | 49708677 |  | 49708677 |
| &nbsp;&nbsp;&nbsp;Non-Agency Commercial Mortgage-Backed Securities |  | 254002498 |  | 254002498 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations |  | 122566324 |  | 122566324 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 13164455 |  | 13164455 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 489250 |  | 489250 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 4403250 |  |  | 4403250 |
| &nbsp;&nbsp;&nbsp;Government Sponsored Enterprises Securities | – | 41288057 | – | 41288057 |
| Total | $4403250 | $3861126983 | $24434169 | $3889964402 |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Centrally Cleared Credit Default Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $– | $28015 | $– | $28015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  | (13456533) |  | (13456533) |
| &nbsp;&nbsp;&nbsp;Centrally Cleared Interest Rate Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets |  | 642314 |  | 642314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  | (155682) |  | (155682) |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | 287836 |  |  | 287836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities | (202283) | – | – | (202283) |
| Total | $85553 | $(12941886) | $– | $(12856333) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund's net assets at the beginning or end of the period.

<br> 56 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 98.25%** |  |  |  |  |  |
| **ASSET-BACKED SECURITIES 0.44%** |  |  |  |  |  |
| **Credit Card 0.19%** |  |  |  |  |  |
| Fortiva Retail Prime Masters Notes Business Trust Series 2025-A Class A<sup>†</sup> | 6.60% |  | 9/17/2029 | $18200000 | $18296460 <sup>(a)</sup> |
| **Other 0.25%** |  |  |  |  |  |
| AMMC CLO 32 Ltd. Series 2025-32A Class E<sup>†</sup> | 9.418%<br> (3 mo. USD Term SOFR + 5.75% |)<sup>#</sup> | 10/17/2038 | 2520000 | 2575327 |
| Arini U.S. CLO II Ltd. Series 2A Class E<sup>†</sup> | 9.322%<br>(3 mo. USD Term SOFR + 5.65% |)<sup>#</sup> | 3/31/2038 | 2520000 | 2579936 |
| Birch Grove CLO 3 Ltd. Series 2021-3A Class ER<sup>†</sup> | 8.818%<br>(3 mo. USD Term SOFR + 5.15% |)<sup>#</sup> | 1/19/2038 | 2750000 | 2716623 |
| Brant Point CLO Ltd. Series 2023-1A Class ER<sup>†</sup> | 10.768%<br>(3 mo. USD Term SOFR + 7.10% |)<sup>#</sup> | 7/26/2038 | 3200000 | 3321434 |
| Brant Point CLO Ltd. Series 2025-7A Class E<sup>†</sup> | 10.168%<br>(3 mo. USD Term SOFR + 6.50% |)<sup>#</sup> | 7/25/2038 | 2000000 | 2061896 |
| Kennedy Lewis CLO 8 Ltd. Series 8A Class ER2<sup>†</sup> | 10.018%<br>(3 mo. USD Term SOFR + 6.35% |)<sup>#</sup> | 1/20/2038 | 3000000 | 2947290 |
| Park Blue CLO Ltd. Series 2024-6A Class E<sup>†</sup> | 9.068%<br>(3 mo. USD Term SOFR + 5.40% |)<sup>#</sup> | 1/25/2038 | 2500000 | 2527752 |
| Steele Creek CLO Ltd. Series 2022-1A Class E1R<sup>†</sup> | 11.672%<br>(3 mo. USD Term SOFR + 8.00% |)<sup>#</sup> | 4/15/2038 | 2000000 | 1954836 |
| TCW CLO Ltd. Series 2021-2A Class ER<sup>†</sup> | 10.418%<br>(3 mo. USD Term SOFR + 6.75% |)<sup>#</sup> | 10/24/2038 | 3750000 | 3623824 |
| *Total* |  |  |  |  | 24308918 |
| *Total Asset-Backed Securities* (cost $42,339,273) | *Total Asset-Backed Securities* (cost $42,339,273) |  |  |  | 42605378 |
|  |  |  |  | **Shares** |  |
| **COMMON STOCKS 0.02%** |  |  |  |  |  |
| **Health Care Providers & Services 0.01%** | **Health Care Providers & Services 0.01%** | **Health Care Providers & Services 0.01%** |  |  |  |
| Recovery Solutions LLC\* |  |  |  | 65196 | 929040 |
| Wellpath Holdings, Inc. Class A\* |  |  |  | 31404 | 19627 |
| Wellpath Holdings, Inc.\* |  |  |  | 30430 | 213011 <sup>(a)</sup> |
| *Total* |  |  |  |  | 1161678 |

---

*See Notes to Financial Statements.* 57

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Shares** | **Fair<br> Value** |
| **Personal Care Products 0.01%** |  |  |  |  |
| Anastasia Parent LLC\* |  |  | 56938 | $782897 |
| *Total Common Stocks* (cost $2,262,897) |  |  |  | 1944575 |
|  |  |  | **Principal**<br> **Amount**<sup>‡</sup> |  |
| **CONVERTIBLE BONDS 2.08%** |  |  |  |  |
| **Biotechnology 0.14%** |  |  |  |  |
| Celcuity, Inc. | 2.75% | 8/1/2031 | $2028000 | 4766884 |
| Halozyme Therapeutics, Inc. | 1.00% | 8/15/2028 | 6620000 | 9201800 |
| *Total* |  |  |  | 13968684 |
| **Diversified Financial Services 0.06%** |  |  |  |  |
| WisdomTree, Inc.<sup>(b)</sup> | 3.25% | 8/15/2029 | 3840000 | 5661553 |
| **Electric 0.10%** |  |  |  |  |
| Ormat Technologies, Inc.<sup>(b)</sup> | 2.50% | 7/15/2027 | 6832000 | 10096671 |
| **Engineering & Construction 0.05%** |  |  |  |  |
| Granite Construction, Inc. | 3.75% | 5/15/2028 | 1819000 | 4831264 |
| **Home Builders 0.20%** |  |  |  |  |
| Meritage Homes Corp. | 1.75% | 5/15/2028 | 7903000 | 8059125 |
| Winnebago Industries, Inc. | 3.25% | 1/15/2030 | 11760000 | 11436600 |
| *Total* |  |  |  | 19495725 |
| **Internet 0.25%** |  |  |  |  |
| Alibaba Group Holding Ltd. (Hong Kong)<sup>(c)</sup> | 0.50% | 6/1/2031 | 5387000 | 9451433 |
| Bilibili, Inc. (China)<sup>†(c)</sup> | 0.625% | 6/1/2030 | 6300000 | 10078425 |
| Trip.com Group Ltd. (Singapore)<sup>(c)</sup> | 0.75% | 6/15/2029 | 4257000 | 4831695 |
| *Total* |  |  |  | 24361553 |
| **Investment Companies 0.05%** |  |  |  |  |
| IREN Ltd. (Australia)<sup>†(c)</sup> | 0.25% | 6/1/2032 | 3850000 | 4758825 |
| **Leisure Time 0.16%** |  |  |  |  |
| Patrick Industries, Inc.<sup>(b)</sup> | 1.75% | 12/1/2028 | 7728000 | 15027096 |
| **Lodging 0.12%** |  |  |  |  |
| H World Group Ltd. (China)<sup>(c)</sup> | 3.00% | 5/1/2026 | 9012000 | 11535360 |

---

58 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Machinery: Construction & Mining 0.05%** | |  |  |  |
| BWX Technologies, Inc.<sup>†</sup> | Zero Coupon | 11/1/2030 | $4675000 | $4831613 |
| **Media 0.04%** |  |  |  |  |
| AMC Networks, Inc. | 4.25% | 2/15/2029 | 3885000 | 3613050 |
| **Oil & Gas 0.45%** |  |  |  |  |
| Borr Drilling Ltd. | 5.00% | 2/8/2028 | 13000000 | 13863200 |
| CNX Resources Corp. | 2.25% | 5/1/2026 | 3098000 | 9337372 |
| Nabors Industries, Inc. | 1.75% | 6/15/2029 | 6862000 | 6132913 |
| Transocean International Ltd. | 4.625% | 9/30/2029 | 9382000 | 14735020 |
| *Total* |  |  |  | 44068505 |
| **REITS 0.09%** |  |  |  |  |
| Blackstone Mortgage Trust, Inc. | 5.50% | 3/15/2027 | 4307000 | 4266083 |
| Redwood Trust, Inc. | 7.75% | 6/15/2027 | 3963000 | 4012538 |
| *Total* |  |  |  | 8278621 |
| **Retail 0.13%** |  |  |  |  |
| Freshpet, Inc.<sup>(b)</sup> | 3.00% | 4/1/2028 | 10397000 | 12887082 |
| **Semiconductors 0.09%** |  |  |  |  |
| Impinj, Inc.<sup>†</sup> | Zero Coupon | 9/15/2029 | 9315000 | 9016920 |
| **Telecommunications 0.10%** |  |  |  |  |
| GDS Holdings Ltd. (China)<sup>(c)</sup> | 4.50% | 1/31/2030 | 5010000 | 9754470 |
| *Total Convertible Bonds* (cost $191,780,326) |  |  |  | 202186992 |
|  | **Dividend<br> Rate** |  | **Shares** |  |
| **CONVERTIBLE PREFERRED STOCKS 0.20%** |  |  |  |  |
| **Aerospace & Defense 0.10%** |  |  |  |  |
| Boeing Co. | 6.00% |  | 134963 | 10083602 |
| **Electric: Utilities 0.10%** |  |  |  |  |
| NextEra Energy, Inc. | 7.299% |  | 169790 | 9375804 |
| *Total Convertible Preferred Stocks* (cost $18,912,607) | *Total Convertible Preferred Stocks* (cost $18,912,607) | *Total Convertible Preferred Stocks* (cost $18,912,607) |  | 19459406 |

---

*See Notes to Financial Statements.* 59

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **CORPORATE BONDS 88.12%** |  |  |  |  |
| **Advertising 0.47%** |  |  |  |  |
| Advantage Sales & Marketing, Inc.<sup>†</sup> | 6.50% | 11/15/2028 | $19467000 | $16524174 |
| Clear Channel Outdoor Holdings, Inc.<sup>†(b)</sup> | 7.50% | 6/1/2029 | 10000000 | 9902654 |
| CMG Media Corp.<sup>†(b)</sup> | 8.875% | 6/18/2029 | 16085580 | 13948289 |
| Summer BC Holdco B SARL | 5.875% | 2/15/2030 | 4800000 | 5306079 |
| *Total* |  |  |  | 45681196 |
| **Aerospace/Defense 1.46%** |  |  |  |  |
| Bombardier, Inc. (Canada)<sup>†(c)</sup> | 7.25% | 7/1/2031 | $17165000 | 18244919 |
| Bombardier, Inc. (Canada)<sup>†(c)</sup> | 7.50% | 2/1/2029 | 28460000 | 29581007 |
| Czechoslovak Group AS (Czech Republic)<sup>†(c)</sup> | 6.50% | 1/10/2031 | 26707000 | 27900815 |
| Czechoslovak Group AS (Czech Republic)<sup>(c)</sup> | 6.50% | 1/10/2031 | 4050000 | 4231037 |
| Efesto Bidco SpA Efesto U.S. LLC (Italy)<sup>†(c)</sup> | 7.50% | 2/15/2032 | 28378000 | 29016079 |
| Goat Holdco LLC<sup>†</sup> | 6.75% | 2/1/2032 | 18300000 | 18807514 |
| TransDigm, Inc.<sup>†</sup> | 6.875% | 12/15/2030 | 13290000 | 13850838 |
| *Total* |  |  |  | 141632209 |
| **Agriculture 0.18%** |  |  |  |  |
| MHP Lux SA (Luxembourg)<sup>(c)</sup> | 6.95% | 4/3/2026 | 7300000 | 7338757 |
| MHP Lux SA (Luxembourg)<sup>†(c)</sup> | 10.50% | 7/28/2029 | 5122000 | 5273749 |
| MHP Lux SA (Luxembourg)<sup>(c)</sup> | 10.50% | 7/28/2029 | 4199000 | 4323403 |
| MHP Lux SA (Luxembourg)<sup>(c)</sup> | 10.50% | 7/28/2029 | 800000 | 823702 |
| *Total* |  |  |  | 17759611 |
| **Airlines 1.50%** |  |  |  |  |
| American Airlines, Inc.<sup>†(b)</sup> | 7.25% | 2/15/2028 | 24233000 | 24685430 |
| American Airlines, Inc.<sup>†</sup> | 8.50% | 5/15/2029 | 11669000 | 12183801 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>†</sup> | 5.75% | 4/20/2029 | 16225000 | 16401674 |
| JetBlue Airways Corp./JetBlue Loyalty LP<sup>†</sup> | 9.875% | 9/20/2031 | 23520000 | 23648819 |
| Southwest Airlines Co. | 4.375% | 11/15/2028 | 12344000 | 12413937 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)<sup>†(c)</sup> | 6.375% | 2/1/2030 | 9500000 | 9021408 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)<sup>†(b)(c)</sup> | 9.50% | 6/1/2028 | 45531000 | 47399774 |
| *Total* |  |  |  | 145754843 |
| **Apparel 0.24%** |  |  |  |  |
| William Carter Co.<sup>†(b)</sup> | 7.375% | 2/15/2031 | 22880000 | 23682186 |

---

60 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Auto Manufacturers 2.72%** |  |  |  |  |  |
| Aston Martin Capital Holdings Ltd. (United Kingdom)<sup>†(c)</sup> | 10.00% |  | 3/31/2029 | $10566000 | $9438390 |
| Ford Motor Credit Co. LLC | 7.20% |  | 6/10/2030 | 32800000 | 35294390 |
| General Motors Co. | 5.625% |  | 4/15/2030 | 9600000 | 10003777 |
| JB Poindexter & Co., Inc.<sup>†</sup> | 8.75% |  | 12/15/2031 | 31611000 | 32877337 |
| Nissan Motor Acceptance Co. LLC<sup>†</sup> | 6.125% |  | 9/30/2030 | 13772000 | 13743685 |
| Nissan Motor Acceptance Co. LLC<sup>†</sup> | 7.05% |  | 9/15/2028 | 8000000 | 8301391 |
| Nissan Motor Co. Ltd. (Japan)<sup>†(c)</sup> | 4.81% |  | 9/17/2030 | 20170000 | 19059539 |
| Nissan Motor Co. Ltd. (Japan)<sup>†(c)</sup> | 7.50% |  | 7/17/2030 | 57035000 | 59936569 |
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC<sup>†</sup> | 10.00% |  | 1/15/2031 | 18376000 | 17360300 |
| Volkswagen Group of America Finance LLC<sup>†</sup> | 4.45% |  | 9/11/2027 | 15000000 | 15053273 |
| Volkswagen Group of America Finance LLC<sup>†</sup> | 5.05% |  | 3/27/2028 | 9400000 | 9543228 |
| Wabash National Corp.<sup>†</sup> | 4.50% |  | 10/15/2028 | 35273000 | 32870503 |
| *Total* |  |  |  |  | 263482382 |
| **Auto Parts & Equipment 1.78%** |  |  |  |  |  |
| American Axle & Manufacturing, Inc. | 5.00% |  | 10/1/2029 | 9634000 | 9403922 |
| American Axle & Manufacturing, Inc. | 6.875% |  | 7/1/2028 | 6562000 | 6595309 |
| Dornoch Debt Merger Sub, Inc.<sup>†(b)</sup> | 6.625% |  | 10/15/2029 | 31948000 | 28488099 |
| Forvia SE (France)<sup>†(b)(c)</sup> | 8.00% |  | 6/15/2030 | 38006000 | 40594185 |
| Goodyear Tire & Rubber Co. | 6.625% |  | 7/15/2030 | 10665000 | 10929663 |
| IHO Verwaltungs GmbH (Germany)<sup>†(c)</sup> | 6.375% |  | 5/15/2029 | 9000000 | 9114399 |
| IHO Verwaltungs GmbH (Germany)<sup>†(c)</sup> | 7.75% |  | 11/15/2030 | 17850000 | 18779929 |
| Tenneco, Inc.<sup>†</sup> | 8.00% |  | 11/17/2028 | 19070000 | 19193020 |
| ZF North America Capital, Inc.<sup>†</sup> | 6.875% |  | 4/14/2028 | 5850000 | 6043606 |
| ZF North America Capital, Inc.<sup>†</sup> | 7.125% |  | 4/14/2030 | 23306000 | 23871613 |
| *Total* |  |  |  |  | 173013745 |
| **Banks 2.73%** |  |  |  |  |  |
| Banc of California | 3.25%<br>(3 mo. USD Term SOFR + 2.52% |)<sup>#</sup> | 5/1/2031 | 5600000 | 5302920 |
| Bank of Nova Scotia (Canada)<sup>(c)</sup> | 7.35%<br>(5 yr. CMT + 2.90% |)<sup>#</sup> | 4/27/2085 | 10450000 | 10954275 |
| Bank of Nova Scotia (Canada)<sup>(c)</sup> | 8.00%<br>(5 yr. CMT + 4.02% |)<sup>#</sup> | 1/27/2084 | 1834000 | 1965092 |
| BW Real Estate, Inc.<sup>†(b)</sup> | 9.50%<br>(5 yr. CMT + 5.40% |)<sup>#</sup> | – <sup>(d)</sup> | 6950000 | 7304214 |
| Citigroup, Inc. | 6.95%<br>(5 yr. CMT + 2.73% |)<sup>#</sup> | – <sup>(d)</sup> | 29727000 | 30639262 |

---

*See Notes to Financial Statements.* 61

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Banks (continued)** |  |  |  |  |  |
| First Citizens BancShares, Inc.<sup>(b)</sup> | 7.00%<br>(5 yr. CMT + 3.30% |)<sup>#</sup> | – <sup>(d)</sup> | $9625000 | $9848117 |
| Flagstar Bank NA | 6.928%<br>(3 mo. USD Term SOFR + 3.04% |)<sup>#</sup> | 11/6/2028 | 13316000 | 12810633 |
| Freedom Mortgage Corp.<sup>†</sup> | 12.25% |  | 10/1/2030 | 15725000 | 17344345 |
| Goldman Sachs Group, Inc. | 6.85%<br>(5 yr. CMT + 2.46% |)<sup>#</sup> | – <sup>(d)</sup> | 30680000 | 31989214 |
| Huntington Bancshares, Inc. | 6.25%<br>(5 yr. CMT + 2.65% |)<sup>#</sup> | – <sup>(d)</sup> | 18790000 | 18799410 |
| Popular, Inc.<sup>(b)</sup> | 7.25% |  | 3/13/2028 | 8530000 | 8959358 |
| Societe Generale SA (France)<sup>†(c)</sup> | 9.375%<br>(5 yr. CMT + 5.39% |)<sup>#</sup> | – <sup>(d)</sup> | 5308000 | 5672230 |
| State Street Corp. | 6.45%<br>(5 yr. CMT + 2.14% |)<sup>#</sup> | – <sup>(d)</sup> | 21864000 | 22667043 |
| Toronto-Dominion Bank (Canada)<sup>(c)</sup> | 6.35%<br>(5 yr. CMT + 2.72% |)<sup>#</sup> | 10/31/2085 | 8648000 | 8794307 |
| Toronto-Dominion Bank (Canada)<sup>(c)</sup> | 7.25%<br>(5 yr. CMT + 2.98% |)<sup>#</sup> | 7/31/2084 | 8350000 | 8746652 |
| UBS Group AG (Switzerland)<sup>†(c)</sup> | 7.00%<br>(5 yr. USD SOFR ICE Swap + 3.08% |)<sup>#</sup> | – <sup>(d)</sup> | 30043000 | 30714972 |
| Valley National Bancorp<sup>(b)</sup> | 3.00%<br>(3 mo. USD Term SOFR + 2.36% |)<sup>#</sup> | 6/15/2031 | 22885000 | 21914925 |
| Western Alliance Bancorp | 3.00%<br>(3 mo. USD Term SOFR + 2.25% |)<sup>#</sup> | 6/15/2031 | 10260000 | 10013647 |
| *Total* |  |  |  |  | 264440616 |
| **Biotechnology 0.33%** |  |  |  |  |  |
| Biocon Biologics Global PLC (United Kingdom)<sup>†(c)</sup> | 6.67% |  | 10/9/2029 | 13075000 | 13285603 |
| Emergent BioSolutions, Inc.<sup>†(b)</sup> | 3.875% |  | 8/15/2028 | 20985000 | 18811414 |
| *Total* |  |  |  |  | 32097017 |
| **Building Materials 2.52%** |  |  |  |  |  |
| ACProducts Holdings, Inc.<sup>†</sup> | 6.375% |  | 5/15/2029 | 5165000 | 2479200 |
| Camelot Return Merger Sub, Inc.<sup>†(b)</sup> | 8.75% |  | 8/1/2028 | 25050000 | 19493750 |
| Cornerstone Building Brands, Inc.<sup>†</sup> | 9.50% |  | 8/15/2029 | 18350000 | 13875690 |
| CP Atlas Buyer, Inc.<sup>†(b)</sup> | 7.00% |  | 12/1/2028 | 11512000 | 10854449 |
| CP Atlas Buyer, Inc.<sup>†</sup> | 9.75% |  | 7/15/2030 | 12450000 | 12959815 |
| CP Atlas Buyer, Inc.<sup>†(b)</sup> | 12.75% |  | 1/15/2031 | 14270762 | 13160372 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.<sup>†</sup> | 6.625% |  | 12/15/2030 | 19000000 | 19690213 |
| Griffon Corp. | 5.75% |  | 3/1/2028 | 31562000 | 31569149 |

---

62 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Building Materials (continued)** |  |  |  |  |
| JELD-WEN, Inc.<sup>†(b)</sup> | 4.875% | 12/15/2027 | $21125000 | $18582288 |
| JELD-WEN, Inc.<sup>†</sup> | 7.00% | 9/1/2032 | 10854000 | 6809255 |
| MIWD Holdco II LLC/MIWD Finance Corp.<sup>†</sup> | 5.50% | 2/1/2030 | 24130000 | 23464256 |
| Oscar AcquisitionCo LLC/Oscar Finance, Inc.<sup>†(b)</sup> | 9.50% | 4/15/2030 | 13109000 | 7767082 |
| Smyrna Ready Mix Concrete LLC<sup>†</sup> | 6.00% | 11/1/2028 | 35678000 | 35812256 |
| Smyrna Ready Mix Concrete LLC<sup>†</sup> | 8.875% | 11/15/2031 | 6000000 | 6400110 |
| West China Cement Ltd. (China)<sup>(c)</sup> | 9.90% | 12/4/2028 | 10150000 | 10129281 |
| West China Cement Ltd. (China)<sup>(c)</sup> | 9.90% | 12/4/2028 | 2300000 | 2295305 |
| Wilsonart LLC<sup>†(b)</sup> | 11.00% | 8/15/2032 | 10050000 | 9189283 |
| *Total* |  |  |  | 244531754 |
| **Chemicals 2.72%** |  |  |  |  |
| Advancion Sciences, Inc.<sup>†</sup> | 9.25% | 11/1/2026 | 16895719 | 13938968 |
| ASP Unifrax Holdings, Inc.<sup>†</sup> | 7.10% | 9/30/2029 | 13396084 | 1138667 |
| ASP Unifrax Holdings, Inc.<sup>†</sup> | 11.175% | 9/30/2029 | 10819927 | 8295908 |
| Celanese U.S. Holdings LLC<sup>(b)</sup> | 6.50% | 4/15/2030 | 43220000 | 44000378 |
| Celanese U.S. Holdings LLC | 6.85% | 11/15/2028 | 5347000 | 5616820 |
| Celanese U.S. Holdings LLC | 7.00% | 2/15/2031 | 18910000 | 19354461 |
| Cerdia Finanz GmbH (Germany)<sup>†(c)</sup> | 9.375% | 10/3/2031 | 32612000 | 33336639 |
| Chemours Co.<sup>†</sup> | 5.75% | 11/15/2028 | 19298000 | 19149786 |
| CVR Partners LP/CVR Nitrogen Finance Corp.<sup>†</sup> | 6.125% | 6/15/2028 | 32820000 | 32845931 |
| INEOS Finance PLC (United Kingdom)<sup>†(c)</sup> | 6.75% | 5/15/2028 | 10300000 | 9037330 |
| Mativ Holdings, Inc.<sup>†</sup> | 8.00% | 10/1/2029 | 9260000 | 9337867 |
| Rain Carbon, Inc.<sup>†(b)</sup> | 12.25% | 9/1/2029 | 29609000 | 31497870 |
| Tronox, Inc.<sup>†(b)</sup> | 4.625% | 3/15/2029 | 40297000 | 31007844 |
| Tronox, Inc.<sup>†(b)</sup> | 9.125% | 9/30/2030 | 4800000 | 4739438 |
| *Total* |  |  |  | 263297907 |
| **Coal 0.80%** |  |  |  |  |
| Alliance Resource Operating Partners LP/Alliance Resource Finance Corp.<sup>†</sup> | 8.625% | 6/15/2029 | 23686000 | 25025633 |
| Coronado Finance Pty. Ltd. (Australia)<sup>†(c)</sup> | 9.25% | 10/1/2029 | 34484000 | 32666458 |
| SunCoke Energy, Inc.<sup>†</sup> | 4.875% | 6/30/2029 | 21546000 | 20337532 |
| *Total* |  |  |  | 78029623 |
| **Commercial Services 4.71%** |  |  |  |  |
| Albion Financing 1 SARL/Aggreko Holdings, Inc.<sup>†</sup> | 5.375% | 5/21/2030 | 1158000 | 1419486 |
| Albion Financing 1 SARL/Aggreko Holdings, Inc. (Luxembourg)<sup>†(c)</sup> | 7.00% | 5/21/2030 | $36097000 | 37644731 |

---

*See Notes to Financial Statements.* 63

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Commercial Services (continued)** |  |  |  |  |
| Allied Universal Holdco LLC/Allied Universal Finance Corp.<sup>†</sup> | 6.875% | 6/15/2030 | $35513000 | $36903891 |
| Alta Equipment Group, Inc.<sup>†(b)</sup> | 9.00% | 6/1/2029 | 35827000 | 34265444 |
| BCP V Modular Services Finance II PLC | 6.125% | 11/30/2028 | 10350000 | 13657606 |
| BCP V Modular Services Finance PLC | 6.75% | 11/30/2029 | 16950000 | 16614366 |
| CoreCivic, Inc. | 8.25% | 4/15/2029 | $19612000 | 20553807 |
| CPI CG, Inc.<sup>†</sup> | 10.00% | 7/15/2029 | 14616000 | 15553909 |
| Dcli Bidco LLC<sup>†</sup> | 7.75% | 11/15/2029 | 9600000 | 9775498 |
| EquipmentShare.com, Inc.<sup>†</sup> | 8.625% | 5/15/2032 | 4899000 | 5243287 |
| EquipmentShare.com, Inc.<sup>†</sup> | 9.00% | 5/15/2028 | 35224000 | 36854695 |
| Garda World Security Corp. (Canada)<sup>†(c)</sup> | 6.50% | 1/15/2031 | 9246000 | 9483695 |
| GEO Group, Inc. | 8.625% | 4/15/2029 | 12035000 | 12593156 |
| GEO Group, Inc. | 10.25% | 4/15/2031 | 9515000 | 10387573 |
| Herc Holdings, Inc.<sup>†</sup> | 7.00% | 6/15/2030 | 17463000 | 18339346 |
| Hertz Corp.<sup>(e)</sup> | Zero Coupon | 10/15/2022 | 2000 |  |
| Hertz Corp.<sup>†(f)</sup> | – <sup>(g)</sup> | 10/15/2049 | 22000 |  |
| Hertz Corp.<sup>†</sup> | 12.625% | 7/15/2029 | 18243000 | 18376612 |
| NESCO Holdings II, Inc.<sup>†</sup> | 5.50% | 4/15/2029 | 23936000 | 23601257 |
| Rekeep SpA | 9.00% | 9/15/2029 | 12059000 | 12556361 |
| RR Donnelley & Sons Co.<sup>†</sup> | 9.50% | 8/1/2029 | $40102000 | 41766554 |
| Sotheby's<sup>†</sup> | 7.375% | 10/15/2027 | 41435000 | 41300175 |
| Synergy Infrastructure Holdings LLC<sup>†</sup> | 7.875% | 12/1/2030 | 9232000 | 9653321 |
| Veritiv Operating Co.<sup>†</sup> | 10.50% | 11/30/2030 | 17156000 | 18391180 |
| Williams Scotsman, Inc.<sup>†</sup> | 6.625% | 4/15/2030 | 11828000 | 12263105 |
| *Total* |  |  |  | 457199055 |
| **Computers 0.38%** |  |  |  |  |
| Pitney Bowes, Inc.<sup>†(b)</sup> | 6.875% | 3/15/2027 | 31935000 | 32015415 |
| Pitney Bowes, Inc.<sup>†</sup> | 7.25% | 3/15/2029 | 1391000 | 1408075 |
| Seagate Data Storage Technology Pte. Ltd. (Singapore)<sup>†(c)</sup> | 8.50% | 7/15/2031 | 2789000 | 2953359 |
| *Total* |  |  |  | 36376849 |
| **Cosmetics/Personal Care 0.17%** |  |  |  |  |
| P&L Development LLC/PLD Finance Corp.<sup>†</sup> | 12.00% | 5/15/2029 | 15648129 | 15991145 |
| **Distribution/Wholesale 0.25%** |  |  |  |  |
| Velocity Vehicle Group LLC<sup>†</sup> | 8.00% | 6/1/2029 | 24385000 | 23887729 |

---

64 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Diversified Financial Services 7.48%** |  |  |  |  |  |
| Air Lease Corp. | 6.00%<br>(5 yr. CMT + 2.56% |)<sup>#</sup> | – <sup>(d)</sup> | $12613000 | $12188927 |
| Ally Financial, Inc. | 4.70%<br>(5 yr. CMT + 3.87% |)<sup>#</sup> | – <sup>(d)</sup> | 10529000 | 10470565 |
| Ally Financial, Inc. | 8.00% |  | 11/1/2031 | 11520000 | 13066413 |
| Aretec Group, Inc.<sup>†</sup> | 10.00% |  | 8/15/2030 | 5436000 | 5862400 |
| Atlanticus Holdings Corp.<sup>†</sup> | 9.75% |  | 9/1/2030 | 20095000 | 19171615 |
| Avolon Holdings Funding Ltd. (Ireland)<sup>†(c)</sup> | 5.75% |  | 11/15/2029 | 9620000 | 9998924 |
| Azorra Finance Ltd. (Cayman Islands)<sup>†(c)</sup> | 7.25% |  | 1/15/2031 | 25968000 | 27215596 |
| Bread Financial Holdings, Inc.<sup>†(b)</sup> | 6.75% |  | 5/15/2031 | 8276000 | 8533599 |
| CrossCountry Intermediate HoldCo LLC<sup>†</sup> | 6.50% |  | 10/1/2030 | 23477000 | 23858266 |
| Freedom Funding Center LLC<sup>†(b)</sup> | 12.00% |  | 10/1/2037 | 8650000 | 9184096 |
| Freedom Mortgage Holdings LLC<sup>†</sup> | 9.125% |  | 5/15/2031 | 21030000 | 22260634 |
| Freedom Mortgage Holdings LLC<sup>†</sup> | 9.25% |  | 2/1/2029 | 8402000 | 8800801 |
| GGAM Finance Ltd. (Ireland)<sup>†(c)</sup> | 5.875% |  | 3/15/2030 | 8345000 | 8493541 |
| GGAM Finance Ltd. (Ireland)<sup>†(c)</sup> | 6.875% |  | 4/15/2029 | 7074000 | 7336346 |
| GGAM Finance Ltd. (Ireland)<sup>†(b)(c)</sup> | 8.00% |  | 2/15/2027 | 26286000 | 26750736 |
| GGAM Finance Ltd. (Ireland)<sup>†(c)</sup> | 8.00% |  | 6/15/2028 | 15577000 | 16411491 |
| ILFC E-Capital Trust I<sup>†</sup> | 6.35% | <sup>#</sup> | 12/21/2065 | 21756000 | 18742809 |
| ILFC E-Capital Trust II<sup>†</sup> | 6.60% | <sup>#</sup> | 12/21/2065 | 13901000 | 12259083 |
| Jane Street Group/JSG Finance, Inc.<sup>†</sup> | 7.125% |  | 4/30/2031 | 4250000 | 4470928 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>†</sup> | 5.00% |  | 8/15/2028 | 24714000 | 23979260 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>†</sup> | 6.625% |  | 10/15/2031 | 9600000 | 9520942 |
| Jefferson Capital Holdings LLC<sup>†</sup> | 8.25% |  | 5/15/2030 | 7655000 | 8070979 |
| LFS Topco LLC<sup>†</sup> | 8.75% |  | 7/15/2030 | 10989000 | 11051275 |
| Macquarie Airfinance Holdings Ltd. (United Kingdom)<sup>†(c)</sup> | 6.50% |  | 3/26/2031 | 21620000 | 23146141 |
| Midcap Financial Issuer Trust<sup>†</sup> | 6.50% |  | 5/1/2028 | 22495000 | 22554927 |
| Navient Corp. | 9.375% |  | 7/25/2030 | 21147000 | 22786527 |
| OneMain Finance Corp. | 6.125% |  | 5/15/2030 | 13888000 | 14165829 |
| OneMain Finance Corp. | 6.625% |  | 1/15/2028 | 57967000 | 59524515 |
| OneMain Finance Corp. | 6.625% |  | 5/15/2029 | 9650000 | 9959061 |
| OneMain Finance Corp. | 7.875% |  | 3/15/2030 | 11665000 | 12311381 |
| PennyMac Financial Services, Inc.<sup>†</sup> | 6.875% |  | 5/15/2032 | 9700000 | 9919938 |
| PennyMac Financial Services, Inc.<sup>†</sup> | 7.125% |  | 11/15/2030 | 23775000 | 24560906 |
| PHH Escrow Issuer LLC/PHH Corp.<sup>†</sup> | 9.875% |  | 11/1/2029 | 29524000 | 30231986 |
| Phoenix Aviation Capital Ltd. (Ireland)<sup>†(c)</sup> | 9.25% |  | 7/15/2030 | 14465000 | 15170963 |
| Planet Financial Group LLC<sup>†</sup> | 10.50% |  | 12/15/2029 | 25600000 | 26617882 |
| PRA Group, Inc.<sup>†(b)</sup> | 5.00% |  | 10/1/2029 | 9225000 | 8458770 |

---

*See Notes to Financial Statements.* 65

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Diversified Financial Services (continued)** |  |  |  |  |  |
| Provident Funding Associates LP/PFG Finance Corp.<sup>†</sup> | 9.75% |  | 9/15/2029 | $8750000 | $9184569 |
| Rfna LP<sup>†</sup> | 7.875% |  | 2/15/2030 | 26050000 | 26260328 |
| Rocket Cos., Inc.<sup>†</sup> | 6.50% |  | 8/1/2029 | 5784000 | 5956768 |
| Sammaan Capital Ltd. (India)<sup>†(c)</sup> | 8.95% |  | 8/28/2028 | 14000000 | 14679930 |
| Stonebriar ABF Issuer LLC<sup>†</sup> | 8.125% |  | 12/15/2030 | 9698000 | 10080441 |
| UWM Holdings LLC<sup>†</sup> | 6.25% |  | 3/15/2031 | 36728000 | 36518923 |
| Velocity Commercial Capital LLC<sup>†</sup> | 9.375% |  | 2/15/2031 | 11595000 | 11783419 |
| VFH Parent LLC/Valor Co-Issuer, Inc.<sup>†</sup> | 7.50% |  | 6/15/2031 | 13150000 | 13784132 |
| *Total* |  |  |  |  | 725356562 |
| **Electric 1.95%** |  |  |  |  |  |
| AES Corp. | 7.60%<br>(5 yr. CMT + 3.20% |)<sup>#</sup> | 1/15/2055 | 13243000 | 13435871 |
| American Electric Power Co., Inc. | 5.80%<br>(5 yr. CMT + 2.13% |)<sup>#</sup> | 3/15/2056 | 20644000 | 20652547 |
| CenterPoint Energy, Inc. | 5.95%<br>(5 yr. CMT + 2.22% |)<sup>#</sup> | 4/1/2056 | 14098000 | 14210995 |
| ContourGlobal Power Holdings SA (Luxembourg)<sup>†(c)</sup> | 6.75% |  | 2/28/2030 | 20376000 | 21038831 |
| Long Ridge Energy LLC<sup>†</sup> | 8.75% |  | 2/15/2032 | 13490000 | 14338078 |
| NRG Energy, Inc.<sup>†</sup> | 10.25%<br>(5 yr. CMT + 5.92% |)<sup>#</sup> | – <sup>(d)</sup> | 10704000 | 11792714 |
| PG&E Corp. | 7.375%<br>(5 yr. CMT + 3.88% |)<sup>#</sup> | 3/15/2055 | 17275000 | 17839097 |
| TXNM Energy, Inc.<sup>†</sup> | 7.00%<br>(5 yr. CMT + 3.25% |)<sup>#</sup> | 7/31/2056 | 9434000 | 9533680 |
| Vistra Corp.<sup>†</sup> | 7.00%<br>(5 yr. CMT + 5.74% |)<sup>#</sup> | – <sup>(d)</sup> | 18308000 | 18594136 |
| Vistra Corp.<sup>†</sup> | 8.00%<br>(5 yr. CMT + 6.93% |)<sup>#</sup> | – <sup>(d)</sup> | 13184000 | 13435709 |
| Vistra Corp.<sup>†</sup> | 8.875%<br>(5 yr. CMT + 6.93% |)<sup>#</sup> | – <sup>(d)</sup> | 10130000 | 11130175 |
| XPLR Infrastructure Operating Partners LP<sup>†(b)</sup> | 8.375% |  | 1/15/2031 | 21650000 | 22753595 |
| *Total* |  |  |  |  | 188755428 |
| **Engineering & Construction 0.30%** |  |  |  |  |  |
| Brand Industrial Services, Inc.<sup>†</sup> | 10.375% |  | 8/1/2030 | 30024000 | 28822731 |
| **Entertainment 1.44%** |  |  |  |  |  |
| 888 Acquisitions Ltd. | 10.75% |  | 5/15/2030 | 19519000 | 24234363 |
| Bracelet Holdings, Inc.<sup>†</sup> | 9.25% |  | 7/2/2028 | $13450000 | 12924105 <sup>(a)</sup> |

---

66 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Entertainment (continued)** |  |  |  |  |  |
| Churchill Downs, Inc.<sup>†</sup> | 5.50% |  | 4/1/2027 | $2000000 | $2002047 |
| Empire Resorts, Inc.<sup>†</sup> | 7.75% |  | 11/1/2026 | 25224000 | 25120329 |
| Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC<sup>†</sup> | 11.875% |  | 4/15/2031 | 9015000 | 9474873 |
| Motion Bondco DAC (Ireland)<sup>†(c)</sup> | 6.625% |  | 11/15/2027 | 5000000 | 4748883 |
| Pinewood Finco PLC | 6.00% |  | 3/27/2030 | 7000000 | 9718120 |
| Resorts World Las Vegas LLC/RWLV Capital, Inc.<sup>†</sup> | 8.45% |  | 7/27/2030 | $4600000 | 4677220 |
| SeaWorld Parks & Entertainment, Inc.<sup>†</sup> | 5.25% |  | 8/15/2029 | 3840000 | 3756490 |
| Six Flags Entertainment Corp.<sup>†(b)</sup> | 7.25% |  | 5/15/2031 | 24828000 | 24521992 |
| Starz Capital Holdings 1, Inc.<sup>†</sup> | 6.00% |  | 4/15/2030 | 8762000 | 8225328 |
| Warnermedia Holdings, Inc. | 4.279% |  | 3/15/2032 | 11250000 | 9914063 |
| *Total* |  |  |  |  | 139317813 |
| **Environmental Control 0.43%** |  |  |  |  |  |
| Biffa Group Holdings Ltd. | 7.375% |  | 6/15/2031 | 3615000 | 5035584 |
| Biffa Group Holdings Ltd.<sup>†</sup> | 7.38% |  | 6/15/2031 | 7503000 | 10451448 |
| Enviri Corp.<sup>†</sup> | 5.75% |  | 7/31/2027 | $21000000 | 21036582 |
| Madison IAQ LLC<sup>†</sup> | 5.875% |  | 6/30/2029 | 4800000 | 4797056 |
| *Total* |  |  |  |  | 41320670 |
| **Food 1.17%** |  |  |  |  |  |
| Bellis Acquisition Co. PLC<sup>†</sup> | 8.125% |  | 5/14/2030 | 4788000 | 5995765 |
| Bellis Acquisition Co. PLC | 8.125% |  | 5/14/2030 | 13000000 | 16279229 |
| C&S Group Enterprises LLC<sup>†</sup> | 5.00% |  | 12/15/2028 | $20205000 | 19046589 |
| Flora Food Management BV | 6.875% |  | 7/2/2029 | 15675000 | 18416190 |
| Grupo Nutresa SA (Colombia)<sup>(c)</sup> | 8.00% |  | 5/12/2030 | $9675000 | 10318151 |
| Iceland Bondco PLC | 4.375% |  | 5/15/2028 | 9231000 | 12431215 |
| Iceland Bondco PLC | 4.375% |  | 5/15/2028 | 1569000 | 2112943 |
| Market Bidco Finco PLC | 8.75% |  | 1/31/2031 | 20029000 | 27019044 |
| United Natural Foods, Inc.<sup>†</sup> | 6.75% |  | 10/15/2028 | $1885000 | 1890319 |
| *Total* |  |  |  |  | 113509445 |
| **Forest Products & Paper 0.20%** |  |  |  |  |  |
| Magnera Corp.<sup>†(b)</sup> | 4.75% |  | 11/15/2029 | 5800000 | 5245401 |
| Magnera Corp.<sup>†</sup> | 7.25% |  | 11/15/2031 | 15441000 | 14605847 |
| *Total* |  |  |  |  | 19851248 |
| **Gas 0.10%** |  |  |  |  |  |
| Spire, Inc. | 6.25%<br>(5 yr. CMT + 2.56% |)<sup>#</sup> | 6/1/2056 | 9625000 | 9595725 |

---

*See Notes to Financial Statements.* 67

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Health Care-Products 0.07%** |  |  |  |  |
| Bausch & Lomb Corp. (Canada)<sup>†(c)</sup> | 8.375% | 10/1/2028 | $6228000 | $6500475 |
| **Health Care-Services 2.34%** |  |  |  |  |
| CHS/Community Health Systems, Inc.<sup>†</sup> | 5.25% | 5/15/2030 | 9650000 | 9106407 |
| CHS/Community Health Systems, Inc.<sup>†</sup> | 6.00% | 1/15/2029 | 13726000 | 13698548 |
| CHS/Community Health Systems, Inc.<sup>†(b)</sup> | 6.875% | 4/15/2029 | 10645000 | 9797658 |
| CHS/Community Health Systems, Inc.<sup>†</sup> | 10.875% | 1/15/2032 | 13480000 | 14528582 |
| Ephios Subco 3 SARL | 7.875% | 1/31/2031 | 7075000 | 8981232 |
| Fortrea Holdings, Inc.<sup>†(b)</sup> | 7.50% | 7/1/2030 | $13700000 | 13954710 |
| Heartland Dental LLC/Heartland Dental Finance Corp.<sup>†</sup> | 10.50% | 4/30/2028 | 7012000 | 7313432 |
| Kedrion SpA (Italy)<sup>†(c)</sup> | 6.50% | 9/1/2029 | 39676000 | 39192798 |
| Molina Healthcare, Inc.<sup>†</sup> | 6.50% | 2/15/2031 | 26700000 | 27396816 |
| National Mentor Holdings, Inc.<sup>†</sup> | 10.50% | 12/15/2030 | 10578000 | 10939918 |
| Team Health Holdings, Inc.<sup>†</sup> | 8.375% | 6/30/2028 | 18397000 | 18636345 |
| Tenet Healthcare Corp. | 6.125% | 10/1/2028 | 29748000 | 29795448 |
| U.S. Acute Care Solutions LLC<sup>†</sup> | 9.75% | 5/15/2029 | 23920000 | 24054646 |
| *Total* |  |  |  | 227396540 |
| **Holding Companies-Diversified 0.12%** |  |  |  |  |
| Benteler International AG<sup>†</sup> | 7.25% | 6/15/2031 | 1212000 | 1536860 |
| Clue Opco LLC<sup>†(b)</sup> | 9.50% | 10/15/2031 | $9319000 | 9907038 |
| *Total* |  |  |  | 11443898 |
| **Home Builders 1.39%** |  |  |  |  |
| Beazer Homes USA, Inc.<sup>†</sup> | 7.50% | 3/15/2031 | 18186000 | 18526824 |
| Dream Finders Homes, Inc.<sup>†</sup> | 6.875% | 9/15/2030 | 20929000 | 21218909 |
| Dream Finders Homes, Inc.<sup>†</sup> | 8.25% | 8/15/2028 | 12341000 | 12733468 |
| K Hovnanian Enterprises, Inc.<sup>†</sup> | 8.00% | 4/1/2031 | 22582000 | 23149373 |
| LGI Homes, Inc.<sup>†</sup> | 4.00% | 7/15/2029 | 4800000 | 4409714 |
| LGI Homes, Inc.<sup>†</sup> | 8.75% | 12/15/2028 | 28263000 | 29471413 |
| Maison Finco PLC | 6.00% | 10/31/2027 | 8575000 | 11544852 |
| Miller Homes Group Finco PLC | 7.00% | 5/15/2029 | 10203000 | 14122728 |
| *Total* |  |  |  | 135177281 |
| **Housewares 0.06%** |  |  |  |  |
| Newell Brands, Inc. | 6.375% | 9/15/2027 | $6083000 | 6153344 |
| **Insurance 0.22%** |  |  |  |  |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>†</sup> | 6.75% | 10/15/2027 | 2880000 | 2889887 |

---

68 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity <br> Date** | **Principal <br> Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Insurance (continued)** |  |  |  |  |  |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>†</sup> | 6.75% |  | 4/15/2028 | $13761000 | $13996313 |
| Global Atlantic Fin Co.<sup>†</sup> | 7.25% <br> (5 yr. CMT + 3.55% |)<sup>#</sup> | 3/1/2056 | 4600000 | 4639169 |
| *Total* |  |  |  |  | 21525369 |
| **Internet 0.76%** |  |  |  |  |  |
| ANGI Group LLC<sup>†(b)</sup> | 3.875% |  | 8/15/2028 | 7113000 | 6514085 |
| Cablevision Lightpath LLC<sup>†</sup> | 5.625% |  | 9/15/2028 | 2000000 | 2001354 |
| GrubHub Holdings, Inc.<sup>†(b)</sup> | 13.00% |  | 7/31/2030 | 7048089 | 5802950 |
| ION Platform Finance U.S., Inc./ION Platform Finance SARL<sup>†</sup> | 9.50% |  | 5/30/2029 | 9600000 | 9271789 |
| Rakuten Group, Inc. (Japan)<sup>†(c)</sup> | 9.75% |  | 4/15/2029 | 33279000 | 37314203 |
| Rakuten Group, Inc. (Japan)<sup>†(c)</sup> | 11.25% |  | 2/15/2027 | 12050000 | 12847192 |
| *Total* |  |  |  |  | 73751573 |
| **Investment Companies 1.00%** |  |  |  |  |  |
| ARES Strategic Income Fund | 5.70% |  | 3/15/2028 | 9220000 | 9346136 |
| Blackstone Private Credit Fund | 5.95% |  | 7/16/2029 | 14220000 | 14463608 |
| Blue Owl Credit Income Corp. | 7.75% |  | 1/15/2029 | 14275000 | 15132444 |
| Blue Owl Technology Finance Corp.<sup>(b)</sup> | 6.75% |  | 4/4/2029 | 24860000 | 25519120 |
| Compass Group Diversified Holdings LLC<sup>†</sup> | 5.25% |  | 4/15/2029 | 9575000 | 8933219 |
| HPS Corporate Lending Fund<sup>†</sup> | 4.90% |  | 9/11/2028 | 9200000 | 9148162 |
| Sixth Street Lending Partners | 6.50% |  | 3/11/2029 | 13653000 | 14180228 |
| *Total* |  |  |  |  | 96722917 |
| **Iron-Steel 1.09%** |  |  |  |  |  |
| Algoma Steel, Inc. (Canada)<sup>†(b)(c)</sup> | 9.125% |  | 4/15/2029 | 32859000 | 28211111 |
| Cleveland-Cliffs, Inc.<sup>†</sup> | 6.875% |  | 11/1/2029 | 13921000 | 14475640 |
| Cleveland-Cliffs, Inc.<sup>†</sup> | 7.50% |  | 9/15/2031 | 17586000 | 18569392 |
| CSN Inova Ventures (Cayman Islands)<sup>(c)</sup> | 6.75% |  | 1/28/2028 | 23075000 | 22088193 |
| Samarco Mineracao SA (Brazil)<sup>(c)</sup> | 9.50% |  | 6/30/2031 | 22601224 | 22703901 |
| *Total* |  |  |  |  | 106048237 |
| **Leisure Time 1.15%** |  |  |  |  |  |
| Carnival Corp.<sup>†</sup> | 5.75% |  | 3/15/2030 | 26486000 | 27286513 |
| Deuce Finco PLC | 7.00% |  | 11/20/2031 | 10425000 | 14501139 |
| Lindblad Expeditions LLC<sup>†</sup> | 7.00% |  | 9/15/2030 | $26185000 | 27347928 |
| NCL Finance Ltd.<sup>†</sup> | 6.125% |  | 3/15/2028 | 16460000 | 16927316 |
| Pinnacle Bidco PLC | 10.00% |  | 10/11/2028 | 9000000 | 12980493 |
| Royal Caribbean Cruises Ltd.<sup>†</sup> | 5.50% |  | 4/1/2028 | $12000000 | 12249134 |
| *Total* |  |  |  |  | 111292523 |

---

<br> *See Notes to Financial Statements.* 69

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal <br> Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Lodging 1.32%** |  |  |  |  |
| Full House Resorts, Inc.<sup>†</sup> | 8.25% | 2/15/2028 | $41902000 | $38340330 |
| Genting New York LLC/GENNY Capital, Inc.<sup>†</sup> | 7.25% | 10/1/2029 | 14543000 | 15039134 |
| Las Vegas Sands Corp. | 5.625% | 6/15/2028 | 9628000 | 9859563 |
| Las Vegas Sands Corp. | 6.00% | 8/15/2029 | 9500000 | 9906871 |
| Melco Resorts Finance Ltd. (Hong Kong)<sup>†(c)</sup> | 5.75% | 7/21/2028 | 17750000 | 17764165 |
| Sands China Ltd. (Macau)<sup>(c)</sup> | 5.40% | 8/8/2028 | 9350000 | 9535719 |
| Studio City Finance Ltd. (Hong Kong)<sup>(c)</sup> | 5.00% | 1/15/2029 | 12900000 | 12508747 |
| Studio City Finance Ltd. (Hong Kong)<sup>(c)</sup> | 6.50% | 1/15/2028 | 7240000 | 7248611 |
| Wynn Macau Ltd. (Macau)<sup>†(c)</sup> | 5.50% | 10/1/2027 | 8241000 | 8244436 |
| *Total* |  |  |  | 128447576 |
| **Machinery-Diversified 0.69%** |  |  |  |  |
| GrafTech Global Enterprises, Inc.<sup>†(b)</sup> | 9.875% | 12/23/2029 | 32475000 | 27786016 |
| Maxim Crane Works Holdings Capital LLC<sup>†</sup> | 11.50% | 9/1/2028 | 28700000 | 30612338 |
| Regal Rexnord Corp. | 6.30% | 2/15/2030 | 8400000 | 8908202 |
| *Total* |  |  |  | 67306556 |
| **Media 4.46%** |  |  |  |  |
| AMC Networks, Inc. | 4.25% | 2/15/2029 | 36614000 | 32170283 |
| AMC Networks, Inc.<sup>†</sup> | 10.25% | 1/15/2029 | 3875000 | 4043361 |
| Cable One, Inc.<sup>†(b)</sup> | 4.00% | 11/15/2030 | 38579000 | 28112336 |
| CCO Holdings LLC/CCO Holdings Capital Corp.<sup>†</sup> | 6.375% | 9/1/2029 | 46075000 | 46543306 |
| CSC Holdings LLC<sup>†</sup> | 4.125% | 12/1/2030 | 4800000 | 2914867 |
| CSC Holdings LLC<sup>†</sup> | 4.625% | 12/1/2030 | 11988000 | 4482815 |
| CSC Holdings LLC<sup>†</sup> | 5.75% | 1/15/2030 | 13555000 | 5339440 |
| CSC Holdings LLC<sup>†</sup> | 11.75% | 1/31/2029 | 20704000 | 15109595 |
| Directv Financing LLC<sup>†</sup> | 8.875% | 2/1/2030 | 9524000 | 9655041 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>†</sup> | 5.875% | 8/15/2027 | 9956000 | 10009623 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>†</sup> | 10.00% | 2/15/2031 | 40650000 | 41905638 |
| DISH DBS Corp. | 7.375% | 7/1/2028 | 45525000 | 43768017 |
| EW Scripps Co.<sup>†</sup> | 9.875% | 8/15/2030 | 9500000 | 9473901 |
| Gray Media, Inc.<sup>†(b)</sup> | 4.75% | 10/15/2030 | 22525000 | 17405870 |
| Gray Media, Inc.<sup>†</sup> | 10.50% | 7/15/2029 | 24602000 | 26438047 |
| iHeartCommunications, Inc.<sup>†(b)</sup> | 9.125% | 5/1/2029 | 9615000 | 9094300 |
| iHeartCommunications, Inc.<sup>†(b)</sup> | 10.875% | 5/1/2030 | 5375000 | 4463534 |
| McGraw-Hill Education, Inc.<sup>†</sup> | 5.75% | 8/1/2028 | 21692000 | 21801588 |
| Nexstar Media, Inc.<sup>†</sup> | 5.625% | 7/15/2027 | 9730000 | 9737356 |
| Scripps Escrow II, Inc.<sup>†(b)</sup> | 5.375% | 1/15/2031 | 6250000 | 4667283 |

---

<br> 70 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal <br> Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Media (continued)** |  |  |  |  |
| Telenet Finance Luxembourg Notes SARL (Luxembourg)<sup>†(c)</sup> | 5.50% | 3/1/2028 | $16000000 | $15997868 |
| Univision Communications, Inc.<sup>†</sup> | 7.375% | 6/30/2030 | 13565000 | 13752251 |
| Univision Communications, Inc.<sup>†</sup> | 8.00% | 8/15/2028 | 36195000 | 37374125 |
| Univision Communications, Inc.<sup>†</sup> | 8.50% | 7/31/2031 | 8000000 | 8347616 |
| Virgin Media Secured Finance PLC (United Kingdom)<sup>†(c)</sup> | 5.50% | 5/15/2029 | 9600000 | 9473632 |
| *Total* |  |  |  | 432081693 |
| **Metal Fabricate-Hardware 0.29%** |  |  |  |  |
| Park-Ohio Industries, Inc.<sup>†</sup> | 8.50% | 8/1/2030 | 27513000 | 28276898 |
| **Mining 3.25%** |  |  |  |  |
| Alumina Pty. Ltd. (Australia)<sup>†(c)</sup> | 6.125% | 3/15/2030 | 36498000 | 37680134 |
| Aris Mining Corp. (Canada)<sup>†(c)</sup> | 8.00% | 10/31/2029 | 15222000 | 15973586 |
| Arsenal AIC Parent LLC<sup>†</sup> | 8.00% | 10/1/2030 | 15400000 | 16328543 |
| Compass Minerals International, Inc.<sup>†</sup> | 6.75% | 12/1/2027 | 3059000 | 3062089 |
| Compass Minerals International, Inc.<sup>†</sup> | 8.00% | 7/1/2030 | 30754000 | 32637244 |
| Eldorado Gold Corp. (Canada)<sup>†(c)</sup> | 6.25% | 9/1/2029 | 23477000 | 23613354 |
| First Quantum Minerals Ltd. (Canada)<sup>†(c)</sup> | 9.375% | 3/1/2029 | 11017000 | 11571530 |
| Hecla Mining Co. | 7.25% | 2/15/2028 | 9529000 | 9548754 |
| Hudbay Minerals, Inc. (Canada)<sup>†(c)</sup> | 6.125% | 4/1/2029 | 10285000 | 10387295 |
| IAMGOLD Corp. (Canada)<sup>†(c)</sup> | 5.75% | 10/15/2028 | 12629000 | 12686967 |
| Ivanhoe Mines Ltd. (Canada)<sup>†(c)</sup> | 7.875% | 1/23/2030 | 16811000 | 17528376 |
| JW Aluminum Continuous Cast Co.<sup>†(b)</sup> | 10.25% | 4/1/2030 | 22434000 | 23361240 |
| New Gold, Inc. (Canada)<sup>†(c)</sup> | 6.875% | 4/1/2032 | 15535000 | 16514870 |
| Novelis Corp.<sup>†</sup> | 6.875% | 1/30/2030 | 48626000 | 50427156 |
| Vedanta Resources Finance II PLC (United Kingdom)<sup>(c)</sup> | 9.475% | 7/24/2030 | 9100000 | 9606539 |
| WE Soda Investments Holding PLC (United Kingdom)<sup>(c)</sup> | 9.50% | 10/6/2028 | 23050000 | 23834101 |
| *Total* |  |  |  | 314761778 |
| **Miscellaneous Manufacturing 1.16%** |  |  |  |  |
| Axon Enterprise, Inc.<sup>†</sup> | 6.125% | 3/15/2030 | 25283000 | 26052842 |
| Calderys Financing II LLC<sup>†</sup> | 11.75% | 6/1/2028 | 19565937 | 20331435 |
| CTEC II GmbH | 5.25% | 2/15/2030 | 7088000 | 7959260 |
| LSB Industries, Inc.<sup>†</sup> | 6.25% | 10/15/2028 | $29032000 | 29088003 |
| Maxam Prill SARL (Luxembourg)<sup>†(c)</sup> | 7.75% | 7/15/2030 | 27500000 | 28665037 |
| *Total* |  |  |  | 112096577 |

---

<br> *See Notes to Financial Statements.* 71

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal <br> Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Oil & Gas 11.51%** |  |  |  |  |
| Aethon United BR LP/Aethon United Finance Corp.<sup>†</sup> | 7.50% | 10/1/2029 | $20325000 | $21397469 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp.<sup>†</sup> | 5.875% | 6/30/2029 | 6250000 | 6297006 |
| Azule Energy Finance PLC (United Kingdom)<sup>(c)</sup> | 8.125% | 1/23/2030 | 12225000 | 12381095 |
| BKV Upstream Midstream LLC<sup>†</sup> | 7.50% | 10/15/2030 | 32167000 | 32594660 |
| Borr IHC Ltd./Borr Finance LLC<sup>†</sup> | 10.00% | 11/15/2028 | 34790854 | 35760017 |
| Borr IHC Ltd./Borr Finance LLC<sup>†(b)</sup> | 10.375% | 11/15/2030 | 8577670 | 8780344 |
| California Resources Corp.<sup>†</sup> | 8.25% | 6/15/2029 | 40089000 | 42186261 |
| Caturus Energy LLC<sup>†</sup> | 8.50% | 2/15/2030 | 35157000 | 36679825 |
| Chord Energy Corp.<sup>†</sup> | 6.00% | 10/1/2030 | 9639000 | 9832246 |
| CITGO Petroleum Corp.<sup>†</sup> | 8.375% | 1/15/2029 | 23313000 | 24300795 |
| CNX Resources Corp.<sup>†</sup> | 6.00% | 1/15/2029 | 15725000 | 15824932 |
| Comstock Resources, Inc.<sup>†</sup> | 5.875% | 1/15/2030 | 10975000 | 10714984 |
| Comstock Resources, Inc.<sup>†</sup> | 6.75% | 3/1/2029 | 28852000 | 29053704 |
| Continental Resources, Inc. | 4.375% | 1/15/2028 | 9530000 | 9545323 |
| Crescent Energy Finance LLC<sup>†</sup> | 7.75% | 7/31/2029 | 29650000 | 29745028 |
| Crescent Energy Finance LLC<sup>†</sup> | 9.25% | 2/15/2028 | 17266000 | 17776417 |
| DBR Land Holdings LLC<sup>†</sup> | 6.25% | 12/1/2030 | 9348000 | 9581700 |
| Diamond Foreign Asset Co./Diamond Finance LLC (Cayman Islands)<sup>†(c)</sup> | 8.50% | 10/1/2030 | 15253000 | 16230489 |
| EnQuest PLC (United Kingdom)<sup>†(b)(c)</sup> | 11.625% | 11/1/2027 | 13670000 | 13819140 |
| Global Marine, Inc. | 7.00% | 6/1/2028 | 29526000 | 29044947 |
| Gulfport Energy Operating Corp.<sup>†</sup> | 6.75% | 9/1/2029 | 14177000 | 14638277 |
| Hilcorp Energy I LP/Hilcorp Finance Co.<sup>†</sup> | 5.75% | 2/1/2029 | 5000000 | 5003925 |
| Hilcorp Energy I LP/Hilcorp Finance Co.<sup>†</sup> | 6.25% | 11/1/2028 | 29693000 | 29953259 |
| Kosmos Energy Gta Holdings (Cayman Islands)<sup>(c)</sup> | 11.25% | 1/29/2031 | 4930000 | 4923591 |
| Kosmos Energy Ltd. | 7.75% | 5/1/2027 | 14475000 | 13985528 |
| Kraken Oil & Gas Partners LLC<sup>†</sup> | 7.625% | 8/15/2029 | 34534000 | 34535882 |
| Moss Creek Resources Holdings, Inc.<sup>†</sup> | 8.25% | 9/1/2031 | 17254000 | 16790347 |
| Nabors Industries, Inc.<sup>†(b)</sup> | 8.875% | 8/15/2031 | 19725000 | 20071687 |
| Nabors Industries, Inc.<sup>†</sup> | 9.125% | 1/31/2030 | 4700000 | 4966890 |
| Noble Finance II LLC<sup>†</sup> | 8.00% | 4/15/2030 | 42973000 | 44820837 |
| Occidental Petroleum Corp. | 7.50% | 5/1/2031 | 8150000 | 9191684 |
| Occidental Petroleum Corp. | 8.875% | 7/15/2030 | 8405000 | 9703732 |
| PBF Holding Co. LLC/PBF Finance Corp. | 6.00% | 2/15/2028 | 19888000 | 19874166 |
| PBF Holding Co. LLC/PBF Finance Corp.<sup>†(b)</sup> | 7.875% | 9/15/2030 | 9166000 | 9188154 |
| PBF Holding Co. LLC/PBF Finance Corp.<sup>†(b)</sup> | 9.875% | 3/15/2030 | 14149000 | 15012358 |

---

<br> 72 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity <br> Date** | **Principal <br> Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Oil & Gas (continued)** |  |  |  |  |  |
| Petroleos Mexicanos (Mexico)<sup>(c)</sup> | 8.75% |  | 6/2/2029 | $24320000 | $26127730 |
| Phillips 66 Co. | 5.875% <br> (5 yr. CMT + 2.28% |)<sup>#</sup> | 3/15/2056 | 9400000 | 9366788 |
| Precision Drilling Corp. (Canada)<sup>†(c)</sup> | 6.875% |  | 1/15/2029 | 6592000 | 6670840 |
| Saturn Oil & Gas, Inc. (Canada)<sup>†(b)(c)</sup> | 9.625% |  | 6/15/2029 | 36782000 | 37656418 |
| Seadrill Finance Ltd.<sup>†</sup> | 8.375% |  | 8/1/2030 | 19543000 | 20489018 |
| SierraCol Energy Andina LLC<sup>†</sup> | 6.00% |  | 6/15/2028 | 6959000 | 6705866 |
| SM Energy Co. | 6.50% |  | 7/15/2028 | 12615000 | 12806395 |
| SM Energy Co. | 6.625% |  | 1/15/2027 | 17731000 | 17759567 |
| SM Energy Co.<sup>†</sup> | 6.75% |  | 8/1/2029 | 17304000 | 17512046 |
| SM Energy Co.<sup>†</sup> | 8.375% |  | 7/1/2028 | 47980000 | 49445693 |
| SM Energy Co.<sup>†</sup> | 8.625% |  | 11/1/2030 | 9776000 | 10345608 |
| SM Energy Co.<sup>†</sup> | 8.75% |  | 7/1/2031 | 1944000 | 2044326 |
| Sunoco LP<sup>†</sup> | 7.875% <br> (5 yr. CMT + 4.23% |)<sup>#</sup> | – <sup>(d)</sup> | 18449000 | 19014277 |
| Sunoco LP/Sunoco Finance Corp.<sup>†</sup> | 7.00% |  | 9/15/2028 | 4150000 | 4287058 |
| Talos Production, Inc.<sup>†</sup> | 9.00% |  | 2/1/2029 | 25929000 | 27036687 |
| Talos Production, Inc.<sup>†</sup> | 9.375% |  | 2/1/2031 | 10763000 | 11408145 |
| TGNR Intermediate Holdings LLC<sup>†</sup> | 5.50% |  | 10/15/2029 | 26220000 | 25958739 |
| Transocean Aquila Ltd.<sup>†</sup> | 8.00% |  | 9/30/2028 | 4598046 | 4716625 |
| Transocean International Ltd.<sup>†</sup> | 8.25% |  | 5/15/2029 | 24134000 | 24602562 |
| Transocean International Ltd.<sup>†</sup> | 8.50% |  | 5/15/2031 | 5000000 | 5092915 |
| Valaris Ltd.<sup>†</sup> | 8.375% |  | 4/30/2030 | 41236000 | 43111413 |
| Vermilion Energy, Inc. (Canada)<sup>†(c)</sup> | 6.875% |  | 5/1/2030 | 32450000 | 32445616 |
| Wildfire Intermediate Holdings LLC<sup>†</sup> | 7.50% |  | 10/15/2029 | 36432000 | 37025332 |
| *Total* |  |  |  |  | 1115836363 |
| **Oil & Gas Services 1.19%** |  |  |  |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp.<sup>†</sup> | 6.25% |  | 4/1/2028 | 7800000 | 7823736 |
| CHC Group LLC<sup>†</sup> | 11.75% |  | 9/1/2030 | 13947000 | 13419268 |
| Enerflex, Inc.<sup>†</sup> | 6.875% |  | 1/15/2031 | 9268000 | 9585021 |
| Helix Energy Solutions Group, Inc.<sup>†</sup> | 9.75% |  | 3/1/2029 | 17414000 | 18345371 |
| Kodiak Gas Services LLC<sup>†</sup> | 7.25% |  | 2/15/2029 | 12273000 | 12737165 |
| SESI LLC<sup>†</sup> | 7.875% |  | 9/30/2030 | 23854000 | 24069282 |
| Star Holding LLC<sup>†</sup> | 8.75% |  | 8/1/2031 | 6250000 | 6273075 |
| USA Compression Partners LP/USA Compression Finance Corp.<sup>†</sup> | 7.125% |  | 3/15/2029 | 22605000 | 23418418 |
| *Total* |  |  |  |  | 115671336 |

---

<br> *See Notes to Financial Statements.* 73

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity <br> Date** | **Principal** <br> **Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Packaging & Containers 1.47%** |  |  |  |  |  |
| Ardagh Group SA (Luxembourg)<sup>†(b)(c)</sup> | 12.00% |  | 12/1/2030 | $10410688 | $9877140 |
| Ardagh Group SA | 12.00% |  | 12/1/2030 | 8550000 | 9578717 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>†</sup> | 6.25% |  | 1/30/2031 | $3659000 | 3762444 |
| Clydesdale Acquisition Holdings, Inc.<sup>†</sup> | 6.875% |  | 1/15/2030 | 9000000 | 9128250 |
| Clydesdale Acquisition Holdings, Inc.<sup>†</sup> | 8.75% |  | 4/15/2030 | 27755000 | 27798194 |
| LABL, Inc.<sup>†</sup> | Zero Coupon |  | 10/1/2031 | 9625000 | 4427500 |
| LABL, Inc.<sup>†(e)</sup> | 9.50% |  | 11/1/2028 | 10724000 | 4933040 |
| Mauser Packaging Solutions Holding Co.<sup>†</sup> | 9.25% |  | 4/15/2030 | 31727000 | 31235025 |
| Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC (Jersey)<sup>†(c)</sup> | 9.50% |  | 5/15/2030 | 19247000 | 18592152 |
| Trivium Packaging Finance BV (Netherlands)<sup>†(c)</sup> | 12.25% |  | 1/15/2031 | 21589000 | 23640473 |
| *Total* |  |  |  |  | 142972935 |
| **Pharmaceuticals 1.65%** |  |  |  |  |  |
| AdaptHealth LLC<sup>†</sup> | 6.125% |  | 8/1/2028 | 11550000 | 11599942 |
| Cheplapharm Arzneimittel GmbH (Germany)<sup>†(c)</sup> | 5.50% |  | 1/15/2028 | 8986000 | 8901756 |
| Cheplapharm Arzneimittel GmbH<sup>†</sup> | 7.125% |  | 6/15/2031 | 2987000 | 3644339 |
| Cheplapharm Arzneimittel GmbH | 7.50% |  | 5/15/2030 | 10500000 | 12934213 |
| Curaleaf Holdings, Inc. | 8.00% |  | 12/15/2026 | $30318000 | 29863230 |
| CVS Health Corp. | 7.00% <br> (5 yr. CMT + 2.89% |)<sup>#</sup> | 3/10/2055 | 9300000 | 9737947 |
| HLF Financing SARL LLC/Herbalife International, Inc.<sup>†</sup> | 4.875% |  | 6/1/2029 | 34208000 | 32498315 |
| HLF Financing SARL LLC/Herbalife International, Inc.<sup>†</sup> | 12.25% |  | 4/15/2029 | 17426000 | 18748703 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>†</sup> | 5.125% |  | 4/30/2031 | 26309000 | 23912329 |
| Teva Pharmaceutical Finance Netherlands IV BV (Netherlands)<sup>(c)</sup> | 5.75% |  | 12/1/2030 | 8170000 | 8465558 |
| *Total* |  |  |  |  | 160306332 |
| **Pipelines 2.42%** |  |  |  |  |  |
| Buckeye Partners LP<sup>†</sup> | 6.75% |  | 2/1/2030 | 40998000 | 42980171 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>†</sup> | 7.125% |  | 6/1/2028 | 24241000 | 24415923 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>†</sup> | 8.625% |  | 3/15/2029 | 20857000 | 21824657 |
| Energy Transfer LP | 6.50%<br> (5 yr. CMT + 5.69% |)<sup>#</sup> | – <sup>(d)</sup> | 26924000 | 27063736 |
| Energy Transfer LP | 6.625%<br> (3 mo. USD LIBOR + 4.16% |)<sup>#</sup> | – <sup>(d)</sup> | 9550000 | 9685725 |

---

<br> 74 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Principal**<br> **Amount**<sup>‡</sup> | **Fair<br> Value** |
| **Pipelines (continued)** |  |  |  |  |  |
| Genesis Energy LP/Genesis Energy Finance Corp. | 8.25% |  | 1/15/2029 | $4917000 | $5128461 |
| Harvest Midstream I LP<sup>†</sup> | 7.50% |  | 9/1/2028 | 11236000 | 11396596 |
| Plains All American Pipeline LP | 8.223%<br> (3 mo. USD Term SOFR + 4.37% |)<sup>#</sup> | – <sup>(d)</sup> | 16280000 | 16259111 |
| Venture Global LNG, Inc.<sup>†(b)</sup> | 8.125% |  | 6/1/2028 | 15213000 | 15584534 |
| Venture Global LNG, Inc.<sup>†</sup> | 9.50% |  | 2/1/2029 | 39605000 | 42198929 |
| Western Midstream Operating LP<sup>†</sup> | 7.25% |  | 4/1/2030 | 17161000 | 18270934 |
| *Total* |  |  |  |  | 234808777 |
| **Real Estate 1.11%** |  |  |  |  |  |
| CPI Property Group SA | 7.50%<br> (5 yr. EURIBOR ICE Swap + 5.23% |)<sup>#</sup> | – <sup>(d)</sup> | 7310000 | 8467000 |
| Cushman & Wakefield U.S. Borrower LLC<sup>†</sup> | 6.75% |  | 5/15/2028 | $28576000 | 28772117 |
| Five Point Operating Co. LP<sup>†</sup> | 8.00% |  | 10/1/2030 | 18697000 | 19443216 |
| Howard Hughes Corp.<sup>†</sup> | 5.375% |  | 8/1/2028 | 6078000 | 6080011 |
| Hunt Cos., Inc.<sup>†</sup> | 5.25% |  | 4/15/2029 | 21166000 | 20738462 |
| Kennedy-Wilson, Inc.<sup>(b)</sup> | 4.75% |  | 2/1/2030 | 5595000 | 5381830 |
| Kennedy-Wilson, Inc.<sup>(b)</sup> | 5.00% |  | 3/1/2031 | 6309000 | 6064999 |
| Longfor Group Holdings Ltd. (China)<sup>(c)</sup> | 4.50% |  | 1/16/2028 | 5775000 | 5363092 |
| Newmark Group, Inc. | 7.50% |  | 1/12/2029 | 6581000 | 7007218 |
| *Total* |  |  |  |  | 107317945 |
| **REITS 2.22%** |  |  |  |  |  |
| Arbor Realty SR, Inc.<sup>†(b)</sup> | 8.50% |  | 12/15/2028 | 10207000 | 9950027 |
| Blackstone Mortgage Trust, Inc.<sup>†</sup> | 7.75% |  | 12/1/2029 | 15055000 | 16147014 |
| Brandywine Operating Partnership LP | 6.125% |  | 1/15/2031 | 4895000 | 4746952 |
| Brandywine Operating Partnership LP | 8.875% |  | 4/12/2029 | 27561000 | 29632016 |
| Diversified Healthcare Trust<sup>†</sup> | 7.25% |  | 10/15/2030 | 17702000 | 18254302 |
| EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/EF Cayman Non-MTM<sup>†</sup> | 7.375% |  | 9/30/2030 | 9444000 | 9556771 |
| Iron Mountain, Inc.<sup>†</sup> | 5.25% |  | 7/15/2030 | 9519000 | 9431785 |
| Millrose Properties, Inc.<sup>†</sup> | 6.375% |  | 8/1/2030 | 22348000 | 22825465 |
| Piedmont Operating Partnership LP | 6.875% |  | 7/15/2029 | 13913000 | 14789313 |
| Piedmont Operating Partnership LP | 9.25% |  | 7/20/2028 | 7830000 | 8678186 |
| Starwood Property Trust, Inc.<sup>†</sup> | 6.50% |  | 7/1/2030 | 16525000 | 17219381 |
| Starwood Property Trust, Inc.<sup>†</sup> | 6.50% |  | 10/15/2030 | 8568000 | 8928404 |
| Starwood Property Trust, Inc.<sup>†</sup> | 7.25% |  | 4/1/2029 | 32877000 | 34713937 |
| VICI Properties LP | 4.75% |  | 2/15/2028 | 10000000 | 10103180 |
| *Total* |  |  |  |  | 214976733 |

---

<br> *See Notes to Financial Statements.* 75

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal** <br> **Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Retail 3.98%** |  |  | | |
| Advance Auto Parts, Inc.<sup>†</sup> | 7.00% | 8/1/2030 | $32604000 | $33178479 |
| Bloomin' Brands, Inc./OSI Restaurant Partners LLC<sup>†(b)</sup> | 5.125% | 4/15/2029 | 37725000 | 33535084 |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.<sup>†(b)</sup> | 6.75% | 1/15/2030 | 14549000 | 13768014 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)<sup>†(c)</sup> | 8.375% | 1/15/2029 | 19948000 | 19839682 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)<sup>†(c)</sup> | 11.50% | 8/15/2029 | 19760000 | 20961902 |
| GPS Hospitality Holding Co. LLC/GPS Finco, Inc.<sup>†</sup> | 7.00% | 8/15/2028 | 12121000 | 6023781 |
| LBM Acquisition LLC<sup>†(b)</sup> | 6.25% | 1/15/2029 | 17250000 | 15946978 |
| LBM Acquisition LLC<sup>†</sup> | 9.50% | 6/15/2031 | 12214000 | 12878063 |
| Maxeda DIY Holding BV | 5.875% | 10/1/2026 | 9025000 | 8361933 |
| Michaels Cos., Inc.<sup>†</sup> | 7.875% | 5/1/2029 | $9600000 | 9362674 |
| Park River Holdings, Inc.<sup>†</sup> | 8.00% | 3/15/2031 | 20370000 | 21005361 |
| Park River Holdings, Inc.<sup>†(b)</sup> | 8.75% | 12/31/2030 | 13641152 | 13617283 |
| Petco Health & Wellness Co., Inc.<sup>†(f)</sup> | 8.25% | 2/1/2031 | 9756000 | 9790721 |
| Punch Finance PLC<sup>†</sup> | 7.875% | 12/30/2030 | 7468000 | 10550139 |
| Punch Finance PLC | 7.875% | 12/30/2030 | 6470000 | 9140252 |
| SGUS LLC<sup>†(e)</sup> | 11.00% | 12/15/2029 |  |  |
| Specialty Building Products Holdings LLC/SBP Finance Corp.<sup>†</sup> | 7.75% | 10/15/2029 | $24721000 | 24657732 |
| Staples, Inc.<sup>†</sup> | 10.75% | 9/1/2029 | 36397000 | 35799998 |
| Staples, Inc.<sup>†</sup> | 12.75% | 1/15/2030 | 6104232 | 5004111 |
| Stonegate Pub Co. Financing PLC | 10.75% | 7/31/2029 | 24462000 | 33770327 |
| Victra Holdings LLC/Victra Finance Corp.<sup>†(b)</sup> | 8.75% | 9/15/2029 | $31259000 | 32932013 |
| Waga Bondco Ltd. | 8.50% | 6/15/2030 | 4800000 | 5839740 |
| White Cap Supply Holdings LLC<sup>†</sup> | 7.375% | 11/15/2030 | $9263000 | 9627017 |
| *Total* |  |  |  | 385591284 |
| **Semiconductors 0.74%** |  |  |  |  |
| ams-OSRAM AG | 10.50% | 3/30/2029 | 11665000 | 14714050 |
| ams-OSRAM AG (Austria)<sup>†(c)</sup> | 12.25% | 3/30/2029 | $23235000 | 24805059 |
| Kioxia Holdings Corp. (Japan)<sup>†(c)</sup> | 6.25% | 7/24/2030 | 31200000 | 32259616 |
| *Total* |  |  |  | 71778725 |
| **Software 1.75%** |  |  |  |  |
| Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.<sup>†</sup> | 8.00% | 6/15/2029 | 11728000 | 9131524 |
| Central Parent, Inc./CDK Global, Inc.<sup>†</sup> | 7.25% | 6/15/2029 | 29908000 | 22952395 |

---

<br> 76 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Principal** <br> **Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Software (continued)** |  |  |  |  |  |
| Cloud Software Group, Inc.<sup>†</sup> | 6.50% |  | 3/31/2029 | $21188000 | $21077453 |
| CoreWeave, Inc.<sup>†(b)</sup> | 9.25% |  | 6/1/2030 | 43779000 | 43153974 |
| Oracle Corp. | 6.15% |  | 11/9/2029 | 18250000 | 19039029 |
| Pagaya U.S. Holdings Co. LLC<sup>†(b)</sup> | 8.875% |  | 8/1/2030 | 20375000 | 18231529 |
| SS&C Technologies, Inc.<sup>†</sup> | 5.50% |  | 9/30/2027 | 7635000 | 7632861 |
| Ubisoft Entertainment SA | 0.878% |  | 11/24/2027 | 4400000 | 4217345 |
| X.AI LLC/X.AI Co. Issuer Corp. | 12.50% |  | 6/30/2030 | $22229000 | 24544639 |
| *Total* |  |  |  |  | 169980749 |
| **Telecommunications 2.94%** |  |  |  |  |  |
| Altice France SA (France)<sup>†(c)</sup> | 9.50% |  | 11/1/2029 | 23114761 | 23735209 |
| APLD ComputeCo LLC<sup>†</sup> | 9.25% |  | 12/15/2030 | 14425000 | 15001917 |
| Cipher Compute LLC<sup>†(b)</sup> | 7.125% |  | 11/15/2030 | 36846000 | 38012581 |
| Connect Finco SARL/Connect U.S. Finco LLC (Luxembourg)<sup>†(c)</sup> | 9.00% |  | 9/15/2029 | 30125000 | 32011337 |
| EchoStar Corp. | 6.75% |  | 11/30/2030 | 18296987 | 18644410 |
| EchoStar Corp. | 10.75% |  | 11/30/2029 | 24300000 | 26651389 |
| Flash Compute LLC<sup>†</sup> | 7.25% |  | 12/31/2030 | 19183000 | 19272067 |
| Frontier Communications Holdings LLC<sup>†</sup> | 6.75% |  | 5/1/2029 | 22950000 | 23051118 |
| Hughes Satellite Systems Corp. | 5.25% |  | 8/1/2026 | 4317000 | 4086622 |
| Hughes Satellite Systems Corp. | 6.625% |  | 8/1/2026 | 15822000 | 13894656 |
| Iliad Holding SAS (France)<sup>†(c)</sup> | 7.00% |  | 10/15/2028 | 11800000 | 11944361 |
| Iliad Holding SAS (France)<sup>†(c)</sup> | 8.50% |  | 4/15/2031 | 5000000 | 5357225 |
| VF Ukraine PAT via VFU Funding PLC (Ukraine)<sup>†(c)</sup> | 9.625% |  | 2/11/2027 | 5819496 | 5734608 |
| VF Ukraine PAT via VFU Funding PLC (Ukraine)<sup>(c)</sup> | 9.625% |  | 2/11/2027 | 661699 | 652046 |
| WULF Compute LLC<sup>†</sup> | 7.75% |  | 10/15/2030 | 45427000 | 47423517 |
| *Total* |  |  |  |  | 285473063 |
| **Transportation 1.61%** |  |  |  |  |  |
| Carriage Purchaser, Inc.<sup>†</sup> | 7.875% |  | 10/15/2029 | 24859000 | 24745931 |
| Mobico Group PLC | 3.625% |  | 11/20/2028 | 4541000 | 5779709 |
| Mobico Group PLC | 4.25%<br> (5 yr. U.K. Government Bond + 4.14% |)<sup>#</sup> | – <sup>(d)</sup> | 10674000 | 9675278 |
| Ocado Group PLC | 10.50% |  | 8/8/2029 | 8199000 | 11395882 |
| Ocado Group PLC<sup>†</sup> | 10.50% |  | 8/8/2029 | 3692000 | 5131552 |
| Rand Parent LLC<sup>†</sup> | 8.50% |  | 2/15/2030 | $39584000 | 41389845 |
| Seaspan Corp. (Hong Kong)<sup>†(b)(c)</sup> | 5.50% |  | 8/1/2029 | 25987000 | 24738764 |

---

<br> *See Notes to Financial Statements.* 77

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal** <br> **Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Transportation (continued)** |  |  |  |  |
| SGL Group ApS | 6.304%<br> (3 mo. EURIBOR + 4.25% | 2/24/2031 | 8550000 | $9575066 |
| Star Leasing Co. LLC<sup>†</sup> | 7.625% | 2/15/2030 | $24950000 | 23898869 |
| *Total* |  |  |  | 156330896 |
| **Trucking & Leasing 0.13%** |  |  |  |  |
| FTAI Aviation Investors LLC<sup>†</sup> | 5.50% | 5/1/2028 | 12347000 | 12366150 |
| *Total Corporate Bonds* (cost $8,445,079,935) | *Total Corporate Bonds* (cost $8,445,079,935) |  |  | 8545782012 |
| **FLOATING RATE LOANS<sup>(h)</sup> 6.79%** |  |  |  |  |
| **Aerospace/Defense 0.15%** |  |  |  |  |
| Alloy Finco Ltd. USD Holdco PIK Term Loan 13.50% (Jersey)<sup>(c)</sup> | 0.50% | 3/6/2028 | 5765865 | 14823089 |
| **Airlines 0.06%** |  |  |  |  |
| JetBlue Airways Corp. 2024 Term Loan B |  | 8/27/2029 | 5750000 | 5530810 |
| **Auto Parts & Equipment 0.33%** |  |  |  |  |
| Autokiniton U.S. Holdings, Inc. 2024 Term Loan B | 7.786% <br> (1 mo. USD Term SOFR + 4.00% | 4/6/2028 | 12537018 | 12521347 |
| First Brands Group LLC 2021 Term Loan | 10.814%<br> (3 mo. USD Term SOFR + 7.11% | 3/30/2027 | 8552599 | 58123 |
| First Brands Group LLC 2022 Incremental Term Loan | 10.814%<br> (1 mo. USD Term SOFR + 7.11% | 3/30/2027 | 7121541 | 48398 |
| First Brands Group LLC 2025 DIP Term Loan | 5.238%<br> (1 mo. USD Term SOFR + 1.55% | 6/29/2026 | 31790 | 4795 |
| RealTruck Group, Inc. 2021 Term Loan B |  | 1/31/2028 | 3778067 | 2954940 |
| RealTruck Group, Inc. 2023 Incremental Term Loan |  | 1/31/2028 | 8311389 | 6519287 |
| Tenneco, Inc. 2022 Term Loan B | 8.772% - 8.99% <br> (3 mo. USD Term SOFR + 5.00% | 11/17/2028 | 9600000 | 9520992 |
| *Total* |  |  |  | 31627882 |
| **Automobile Manufacturers 0.10%** |  |  |  |  |
| American Trailer World Corp. Term Loan B | 7.522% <br> (1 mo. USD Term SOFR + 3.75% | 3/3/2028 | 10320000 | 9295018 |
| **Beverages 0.14%** |  |  |  |  |
| Primo Brands Corp. 2025 Term Loan B | 5.922% <br> (3 mo. USD Term SOFR + 2.25% | 3/31/2028 | 14010105 | 14030560 |

---

<br> 78 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal** <br> **Amount**<sup>‡</sup> | **Fair <br> Value** |
| **Building Materials 0.17%** |  |  |  |  |
| Quikrete Holdings, Inc. 2025 Term Loan B | 5.922% <br> (1 mo. USD Term SOFR + 2.25%) | 2/10/2032 | $16212487 | $16229754 |
| **Chemicals 0.11%** |  |  |  |  |
| INEOS Styrolution Group GmbH 2020 EUR Term Loan | 3.954%<br> (1 mo. EURIBOR + 2.00%) | 1/29/2027 | 8256657 | 9547291 |
| INEOS Styrolution U.S. Holding LLC 2020 USD Term Loan | – <sup>(g)</sup> | 1/29/2027 | $1680430 | 1650603 |
| *Total* |  |  |  | 11197894 |
| **Commercial Services 0.93%** |  |  |  |  |
| Allied Universal Holdco LLC 2025 USD Term Loan B | 6.922%<br> (1 mo. USD Term SOFR + 3.25%) | 8/20/2032 | 13740563 | 13782883 |
| Crash Champions LLC 2024 Term Loan B | 8.572%<br> (3 mo. USD Term SOFR + 4.75%) | 2/23/2029 | 30551272 | 28536874 |
| CRM Series Seller 2025 LLC Revolver<sup>(i)</sup> | 7.547% | 8/20/2030 | 16500000 | 16501650 <sup>(j)</sup> |
| Spin Holdco, Inc. 2021 Term Loan | 8.022% <br> (3 mo. USD Term SOFR + 4.00%) | 3/4/2028 | 27839888 | 22675589 |
| Stonepeak Taurus Lower Holdings LLC 2022 2nd Lien Term Loan | 10.772% <br> (3 mo. USD Term SOFR + 7.00%) | 1/28/2030 | 9795000 | 8668575 |
| *Total* |  |  |  | 90165571 |
| **Computers 0.59%** |  |  |  |  |
| McAfee LLC 2024 USD 1st Lien Term Loan B | – <sup>(g)</sup> | 3/1/2029 | 11054000 | 9824243 |
| Peraton Corp. Term Loan B | 7.517% <br> (3 mo. USD Term SOFR + 3.75%) | 2/1/2028 | 15338848 | 14198021 |
| X Corp. 2025 Fixed Term Loan | 9.50% | 10/26/2029 | 14367000 | 14894987 |
| X Corp. Term Loan | 10.417% <br> (3 mo. USD Term SOFR + 6.50%) | 10/26/2029 | 18357230 | 18355302 |
| *Total* |  |  |  | 57272553 |
| **Containers & Packaging 0.25%** |  |  |  |  |
| Iris Holding, Inc. Term Loan | – <sup>(g)</sup> | 6/28/2028 | 14875000 | 14433436 |
| Tosca Services LLC 2024 Second Out Superpriority PIK Term Loan B 5.27% | 3.25% <br> (1 mo. USD Term SOFR + 1.50%) | 11/30/2028 | 10400098 | 9635274 |
| *Total* |  |  |  | 24068710 |
| **Cosmetics/Personal Care 0.14%** |  |  |  |  |
| Conair Holdings LLC Term Loan B | 7.536% <br> (1 mo. USD Term SOFR + 3.75%) | 5/17/2028 | 26354830 | 13548096 |

---

<br> *See Notes to Financial Statements.* 79

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Principal <br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Diversified Financial Services 0.08%** |  |  | | |
| BSFR II UTE I LLC Revolver<sup>(i)</sup> | 7.68% - 7.68% <br> (3 mo. USD Term SOFR + 4.00%) | 3/24/2028 | $7425000 | $7435395 <sup>(j)</sup> |
| **Electric 0.20%** |  |  |  |  |
| Lackawanna Energy Center LLC 2025 Term Loan B | 6.675% <br> (1 mo. USD Term SOFR + 3.00%) | 8/5/2032 | 9896500 | 9969487 |
| Talen Energy Supply LLC 2024-1 Incremental Term Loan | 6.353% <br> (3 mo. USD Term SOFR + 2.50%) | 12/15/2031 | 9604241 | 9623785 |
| *Total* |  |  |  | 19593272 |
| **Food Service 0.05%** |  |  |  |  |
| Gategroup Finance Luxembourg SA USD Repriced Term Loan B (Luxembourg)<sup>(c)</sup> | 7.201% <br> (3 mo. USD Term SOFR + 3.50%) | 6/10/2032 | 4453620 | 4472169 |
| **Gaming/Leisure 0.29%** |  |  |  |  |
| 888 Acquisitions Ltd. USD Term Loan B (United Kingdom)<sup>(c)</sup> | 9.048%<br> (6 mo. USD Term SOFR + 5.25%) | 7/1/2028 | 6112644 | 5626689 |
| United FP Holdings LLC 2019 1st Lien Term Loan | 7.929% <br> (3 mo. USD Term SOFR + 4.00%) | 12/30/2026 | 23221404 | 22500496 |
| *Total* |  |  |  | 28127185 |
| **Health Care Services 0.23%** |  |  |  |  |
| ADMI Corp. 2023 Term Loan B5 | 9.422%<br> (1 mo. USD Term SOFR + 5.75%) | 12/23/2027 | 15497498 | 15110061 |
| Dermatology Intermediate Holdings III, Inc. 2023 Incremental Term Loan B | 9.167%<br> (3 mo. USD Term SOFR + 5.50%) | 3/30/2029 | 7224322 | 6985017 |
| New WPCC Parent LLC Term Loan | 13.172% <br> (1 mo. USD Term SOFR + 9.50%) | 5/9/2030 | 712032 | 681770 |
| *Total* |  |  |  | 22776848 |
| **Healthcare 0.08%** |  |  |  |  |
| Dermatology Intermediate Holdings III, Inc. 2022 Term Loan B | 7.917% <br> (3 mo. USD Term SOFR + 4.25%) | 3/30/2029 | 7658911 | 7388130 |
| **Information Technology Services 0.01%** |  |  |  |  |
| Recovery Solutions Parent LLC Term Loan | 11.172% <br> (3 mo. USD Term SOFR + 7.50%) | 1/28/2030 | 1182519 | 1164781 |

---

80 See Notes to Financial Statements.

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal <br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Internet 0.18%** |  |  |  |  |
| Anastasia Parent LLC 2025 Term Loan | 8.672% <br> (3 mo. USD Term SOFR + 5.00%) | 6/24/2030 | $4031638 | $3754463 |
| Hunter Holdco 3 Ltd. USD Term Loan B (United Kingdom)<sup>(c)</sup> | 8.022% <br> (3 mo. USD Term SOFR + 4.25%) | 8/19/2028 | 14874725 | 13870681 |
| *Total* |  |  |  | 17625144 |
| **Machinery: Diversified 0.37%** |  |  |  |  |
| CPM Holdings, Inc. 2023 Term Loan | 8.20%<br> (1 mo. USD Term SOFR + 4.50%) | 9/28/2028 | 26595390 | 26271325 |
| LSF12 Badger Bidco LLC Term Loan B | 9.172% <br> (1 mo. USD Term SOFR + 5.50%) | 8/30/2030 | 9435039 | 9470420 |
| *Total* |  |  |  | 35741745 |
| **Media 0.34%** |  |  |  |  |
| Sinclair Television Group, Inc. 2025 Term Loan B6 | 7.234%<br> (1 mo. USD Term SOFR + 3.30%) | 12/31/2029 | 19235479 | 16686778 |
| Sinclair Television Group, Inc. 2025 Term Loan B7 | 7.872% <br> (1 mo. USD Term SOFR + 4.10%) | 12/31/2030 | 18695224 | 15984416 |
| *Total* |  |  |  | 32671194 |
| **Metal Fabricate/Hardware 0.23%** |  |  |  |  |
| Tank Holding Corp. 2022 Term Loan | 9.522% <br> (1 mo. USD Term SOFR + 5.75%) | 3/31/2028 | 20535762 | 18828727 |
| Tank Holding Corp. 2023 Incremental Delayed Draw Term Loan | 9.771% <br> (1 mo. USD Term SOFR + 6.00%) | 3/31/2028 | 1144443 | 1051457 |
| Tank Holding Corp. 2023 Incremental Term Loan | 9.772% <br> (1 mo. USD Term SOFR + 6.00%) | 3/31/2028 | 2698836 | 2479556 |
| *Total* |  |  |  | 22359740 |
| **Miscellaneous Manufacture 0.11%** |  |  |  |  |
| Rohm Holding GmbH 2024 EUR PIK Term Loan B | 7.149% <br> (6 mo. EURIBOR + 4.75%) | 1/31/2029 | 9530000 | 10651527 |
| **Oil & Gas Services 0.08%** |  |  |  |  |
| Star Holding LLC 2024 1st Lien Term Loan B | – <sup>(g)</sup> | 7/31/2031 | $7600000 | 7475550 |
| **Pharmaceuticals 0.15%** |  |  |  |  |
| Gainwell Acquisition Corp. Term Loan B | 7.772% <br> (3 mo. USD Term SOFR + 4.00%) | 10/1/2027 | 14850000 | 14249763 |

---

*See Notes to Financial Statements.* 81

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity <br> Date** | **Principal <br> Amount<sup>‡</sup>** | **Fair <br> Value** |
| **Real Estate 0.13%** |  |  | | |
| CoreLogic, Inc. 2nd Lien Term Loan | 10.286% <br> (1 mo. USD Term SOFR + 6.50%) | 6/4/2029 | $13190000 | $13091075 |
| **Retail 0.78%** |  |  |  |  |
| BCPE Grill Parent 2023 Term Loan B | 8.422%<br> (1 mo. USD Term SOFR + 4.75%) | 9/30/2030 | 14883901 | 14054645 |
| LBM Acquisition LLC 2024 Incremental Term Loan B | 7.521%<br> (1 mo. USD Term SOFR + 3.75%) | 6/6/2031 | 5775682 | 5574110 |
| Restoration Hardware, Inc. Term Loan B | 6.286%<br> (1 mo. USD Term SOFR + 2.50%) | 10/20/2028 | 9522882 | 9402751 |
| RVR Dealership Holdings LLC Term Loan B | 7.522%<br> (1 mo. USD Term SOFR + 3.75%) | 2/8/2028 | 29307909 | 29108762 |
| Specialty Building Products Holdings LLC 2021 Term Loan B | – <sup>(g)</sup> | 10/16/2028 | 7500000 | 7150237 |
| Staples, Inc. 2024 Term Loan B | 9.604%<br> (3 mo. USD Term SOFR + 5.75%) | 9/4/2029 | 10635375 | 10180447 |
| Torrid LLC 2021 Term Loan B | 9.286% <br> (1 mo. USD Term SOFR + 5.50%) | 6/14/2028 | 494713 | 210802 |
| *Total* |  |  |  | 75681754 |
| **Software 0.42%** |  |  |  |  |
| AthenaHealth Group, Inc. 2022 Term Loan B | – <sup>(g)</sup> | 2/15/2029 | 4805000 | 4751448 |
| Boxer Parent Co., Inc. 2024 2nd Lien Term Loan | 9.417%<br> (3 mo. USD Term SOFR + 5.75%) | 7/30/2032 | 10476000 | 9926010 |
| Central Parent, Inc. 2024 Term Loan B | 6.922%<br> (3 mo. USD Term SOFR + 3.25%) | 7/6/2029 | 8291040 | 6674287 |
| Cotiviti Corp. 2024 Fixed Term Loan B | – <sup>(g)</sup> | 5/1/2031 | 2294000 | 2147769 |
| DTI Holdco, Inc. 2025 Term Loan B | 7.672%<br> (1 mo. USD Term SOFR + 4.00%) | 4/26/2029 | 9575000 | 8996048 |
| Mitchell International, Inc. 2024 2nd Lien Term Loan | 8.922%<br> (1 mo. USD Term SOFR + 5.25%) | 6/17/2032 | 2974000 | 2940855 |
| Rocket Software, Inc. 2023 USD Term Loan B | – <sup>(g)</sup> | 11/28/2028 | 5275000 | 5055771 |
| *Total* |  |  |  | 40492188 |
| **Telecommunications 0.09%** |  |  |  |  |
| Delta TopCo, Inc. 2024 2nd Lien Term Loan | – <sup>(g)</sup> | 11/29/2030 | 9605000 | 9216766 |
| *Total Floating Rate Loans* (cost $673,065,429) |  |  |  | 658004163 |

---

82 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br>Date** | **Principal**<br>**Amount**<sup>‡</sup> | **Fair<br>Value** |
| **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.53%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.53%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.53%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.53%** | **GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.53%** |  |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5 Class B2<sup>†</sup> | 15.197%<br> (30 day USD SOFR Average + 11.50% |)<sup>#</sup> | 10/25/2050 | $9000000 | $12542575 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA1 Class B2<sup>†</sup> | 8.912%<br> (30 day USD SOFR Average + 5.21% |)<sup>#</sup> | 1/25/2050 | 2270000 | 2534808 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3 Class B2<sup>†</sup> | 9.947%<br> (30 day USD SOFR Average + 6.25% |)<sup>#</sup> | 9/25/2041 | 1380000 | 1420123 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA4 Class B2<sup>†</sup> | 10.697%<br> (30 day USD SOFR Average + 7.00% |)<sup>#</sup> | 12/25/2041 | 1845000 | 1927519 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA2 Class B2<sup>†</sup> | 12.197%<br> (30 day USD SOFR Average + 8.50% |)<sup>#</sup> | 2/25/2042 | 9469000 | 10129952 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1 Class B2<sup>†</sup> | 14.697%<br> (30 day USD SOFR Average + 11.00% |)<sup>#</sup> | 3/25/2042 | 10000000 | 11012544 |
| Federal Home Loan Mortgage Corp. STACR Trust Series 2019-HQA1 Class B2<sup>†</sup> | 16.062%<br> (30 day USD SOFR Average + 12.36% |)<sup>#</sup> | 2/25/2049 | 2280000 | 2771102 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R02 Class 2B2<sup>†</sup> | 9.897%<br> (30 day USD SOFR Average + 6.20% |)<sup>#</sup> | 11/25/2041 | 883000 | 912134 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2B2<sup>†</sup> | 11.347%<br> (30 day USD SOFR Average + 7.65% |)<sup>#</sup> | 1/25/2042 | 1890000 | 1999366 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R06 Class 1B2<sup>†</sup> | 14.297%<br> (30 day USD SOFR Average + 10.60% |)<sup>#</sup> | 5/25/2042 | 5255000 | 5849763 |
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R07 Class 1B2<sup>†</sup> | 15.697% <br> (30 day USD SOFR Average + 12.00% |)<sup>#</sup> | 6/25/2042 | 685300 | 778380 |
| *Total Government Sponsored Enterprises Collateralized Mortgage Obligations*<br> (cost $52,192,128) | *Total Government Sponsored Enterprises Collateralized Mortgage Obligations*<br> (cost $52,192,128) |  |  |  | 51878266 |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 0.07%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 0.07%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 0.07%** |  |  |  |
| JP Morgan Mortgage Trust Series 2025-NQM4 Class B1<sup>†</sup> (cost $6,249,871) | 6.687% | <sup>#(k)</sup> | 3/25/2066 | 6250000 | 6301629 |
| *Total Long-Term Investments (cost $9,431,882,466)* | *Total Long-Term Investments (cost $9,431,882,466)* |  |  |  | 9528162421 |

---

*See Notes to Financial Statements.* 83

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 4.23%** |  |  |
| **REPURCHASE AGREEMENTS 0.46%** |  |  |
| Repurchase Agreement dated 1/30/2026, 3.600% due 2/2/2026 with Barclays Capital, Inc. collateralized by $26,437,700 of U.S. Treasury Note at 3.375% due 11/30/2027; value: $26,505,102; proceeds: $25,982,793<br> (cost $25,975,000) | $25975000 | $25975000 |
| Repurchase Agreement dated 1/30/2026, 3.250% due 2/2/2026 with Fixed Income Clearing Corp. collateralized by $17,700,300 of U.S. Treasury Note at 3.750% due 4/30/2027; value: $17,907,268; proceeds: $17,560,883 <br> (cost $17,556,128) | 17556128 | 17556128 |
| Repurchase Agreement dated 1/30/2026, 3.640% due 2/2/2026 with TD Securities (USA) LLC collateralized by $1,048,600 of U.S. Treasury Note at 2.750% due 4/30/2027; value: $1,045,918; proceeds: $1,025,311 <br> (cost $1,025,000) | 1025000 | 1025000 |
| *Total Repurchase Agreements* (cost $44,556,128) |  | 44556128 |
| **TIME DEPOSITS 0.37%** |  |  |
| CitiBank N.A.<sup>(l)</sup> (cost $36,614,579) | 36614579 | 36614579 |
|  | **Shares** |  |
| **MONEY MARKET FUNDS 3.40%** |  |  |
| Fidelity Government Portfolio<sup>(l)</sup> (cost $329,531,213) | 329531213 | 329531213 |
| *Total Short-Term Investments* (cost $410,701,920) |  | 410701920 |
| *Total Investments in Securities 102.48%* (cost $9,842,584,386) |  | 9938864341 |
| *Less Unfunded Loan Commitments (0.08%)* (cost $8,022,181) |  | (8044519) |
| *Net Investments in Securities 102.40%* (cost $9,834,562,205) |  | 9930819822 |
| *Other Assets and Liabilities – Net*<sup>(m)</sup> *(2.40)%* |  | (232891761) |
| *Net Assets 100.00%* |  | $9697928061 |

---

---

| | |
|:---|:---|
| EUR | Euro. |
| GBP | British Pound. |
| CMT | Constant Maturity Rate. |
| EURIBOR | Euro Interbank Offered Rate. |
| ICE | Intercontinental Exchange. |
| LIBOR | London Interbank Offered Rate. |
| PIK | Payment-in-kind. |

---

84 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | |
|:---|:---|
| REITS | Real Estate Investment Trusts. |
| REMICS&nbsp;&nbsp;&nbsp;&nbsp; | Real Estate Mortgage Investment Conduits. |
| SOFR | Secured Overnight Financing Rate. |
| STACR | Structured Agency Credit Risk. |

---

---

| | |
|:---|:---|
| <sup>‡</sup> | Principal Amount is denominated in U.S. dollars unless otherwise noted. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2026, the total value of Rule 144A securities was $6,770,158,683, which represents 69.81% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at January 31, 2026. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Level 3 Investment as described in Note 2(a) in the Notes to Financial Statements. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. |
| <sup>(b)</sup> | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. |
| <sup>(c)</sup> | Foreign security traded in U.S. dollars. |
| <sup>(d)</sup> | Security is perpetual in nature and has no stated maturity. |
| <sup>(e)</sup> | Defaulted (non-income producing security). |
| <sup>(f)</sup> | Securities purchased on a when-issued basis (See Note 2(i)). |
| <sup>(g)</sup> | Interest Rate to be determined. |
| <sup>(h)</sup> | Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the SOFR or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at January 31, 2026. |
| <sup>(i)</sup> | Security partially/fully unfunded. See Note (2(l)). |
| <sup>(j)</sup> | Level 3 Investment as described in Note 2(a) in the Notes to Financial Statements. Floating Rate Loans categorized as Level 3 are valued based on a single quotation obtained from a dealer. Accounting principles generally accepted in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation. |
| <sup>(k)</sup> | Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool. |
| <sup>(l)</sup> | Security was purchased with the cash collateral from loaned securities. |
| <sup>(m)</sup> | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on forward foreign currency exchange contracts, futures contracts and swap contracts as follows: |

---

**Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Buy Protection at January 31, 2026**<sup>(1)</sup>**:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Referenced<br> Indexes/Issuers | Central<br> Clearing<br> Party | Fund<br> Pays<br> (Quarterly) | Termination<br> Date | Notional<br> Amount | **Payments<br> Upfront**<sup>(2)</sup> | **Unrealized<br> Appreciation/<br> (Depreciation)**<sup>(3)</sup> | Value |
| Navient Corp.<sup>(4)</sup> | Bank of America | 5.00% | 12/20/2030 | $3000000 | $(216307) | $50902 | $(165405) |

---

<sup>(1)</sup> If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap contracts and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.

<sup>(2)</sup> Upfront payments paid (received) are presented net of amortization.

<sup>(3)</sup> Total unrealized appreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $50,902. Total unrealized depreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $0.

<sup>(4)</sup> Central Clearinghouse: Intercontinental Exchange (ICE).

*See Notes to Financial Statements.* 85

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

**Centrally Cleared Interest Rate Swap Contracts at January 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Central<br> Clearingparty** | **Periodic<br> Payments<br> to be Made<br> By The Fund<br> (Quarterly)** | **Periodic<br> Payments<br> to be Received<br> By The Fund<br> (Quarterly)** | **Termination<br> Date** | **Notional<br> Amount** | Payments <br> **Upfront**<sup>(1)</sup> | **Unrealized<br> Appreciation/<br> (Depreciation)** | **Value** |
| Bank of America<sup>(2)</sup> | 2.711% | CPI Urban Consumer NSA | 8/27/2030 | $390000000 | $(2284257) | $(934550) | $(3218807) |

---

---

| | |
|:---|:---|
| CPI | Consumer Price Index: Rate fluctuates based on CPI. |
| NSA | Non-seasonally adjusted. |
| <sup>(1)</sup> | Upfront payments paid (received) are presented net of amortization. |
| <sup>(2)</sup> | Central Clearinghouse: Chicago Mercantile Exchange (CME). |

---

**Forward Foreign Currency Exchange Contracts at January 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward<br> Foreign<br> Currency<br> Exchange <br> Contracts | Transaction<br> Type | Counterparty | Expiration<br> Date | Foreign<br> Currency | U.S. $ Cost on<br> Origination<br> Date | U.S. $ Current<br> Value | Unrealized<br> Appreciation |
| British pound | Buy | Barclays Bank PLC | 2/6/2026 | 712000 | $954200 | $974261 | $20061 |
| British pound | Buy | Barclays Bank PLC | 2/6/2026 | 3574000 | 4695489 | 4890459 | 194970 |
| British pound | Buy | Citibank | 2/6/2026 | 7501000 | 9992903 | 10263944 | 271041 |
| British pound | Buy | Goldman Sachs | 2/6/2026 | 3241000 | 4232371 | 4434801 | 202430 |
| British pound | Buy | Morgan Stanley | 2/6/2026 | 3032000 | 3946780 | 4148817 | 202037 |
| British pound | Buy | Morgan Stanley | 2/6/2026 | 4855000 | 6396787 | 6643307 | 246520 |
| British pound | Buy | Morgan Stanley | 2/6/2026 | 1894000 | 2489888 | 2591643 | 101755 |
| British pound | Buy | Morgan Stanley | 2/6/2026 | 12000000 | 15872504 | 16420122 | 547618 |
| British pound | Buy | Toronto Dominion Bank | 2/6/2026 | 2034000 | 2714116 | 2783210 | 69094 |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 960000 | 1125189 | 1139600 | 14411 |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 3741000 | 4349489 | 4440880 | 91391 |
| Japanese yen | Buy | Morgan Stanley | 2/20/2026 | 336435000 | 2160142 | 2177070 | 16928 |
| Japanese yen | Buy | Morgan Stanley | 2/20/2026 | 873600000 | 5643315 | 5653063 | 9748 |
| Japanese yen | Buy | Morgan Stanley | 2/20/2026 | 1295652000 | 8166059 | 8384161 | 218102 |
| Japanese yen | Buy | State Street Bank and Trust | 2/20/2026 | 780361000 | 4950113 | 5049714 | 99601 |
| Japanese yen | Buy | State Street Bank and Trust | 2/20/2026 | 1580152000 | 10006588 | 10225159 | 218571 |
| Japanese yen | Buy | Toronto Dominion Bank | 2/20/2026 | 705870000 | 4542945 | 4567683 | 24738 |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 8177000 | 9707814 | 9706783 | 1031 |
| Japanese yen | Sell | State Street Bank and Trust | 2/20/2026 | 720987000 | 4768628 | 4665505 | 103123 |
| Japanese yen | Sell | Toronto Dominion Bank | 2/20/2026 | 5514370000 | 36539495 | 35683473 | 856022 |
| *Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts* |  |  | $3509192 |

---

86 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward<br> Foreign<br> Currency<br> Exchange<br> Contracts | Transaction<br> Type | Counterparty | Expiration<br> Date | Foreign<br> Currency | U.S. $ Cost on<br> Origination<br> Date | U.S. $ Current<br> Value | Unrealized<br> Depreciation |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 79300000 | $95118685 | $94135738 | $(982947) |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 817000 | 978319 | 969847 | (8472) |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 3527000 | 4222614 | 4186844 | (35770) |
| Euro | Buy | Morgan Stanley | 3/6/2026 | 1698000 | 2031181 | 2015668 | (15513) |
| Euro | Buy | Toronto Dominion Bank | 3/6/2026 | 2918000 | 3470616 | 3463910 | (6706) |
| Japanese yen | Buy | Morgan Stanley | 2/20/2026 | 288232000 | 1873745 | 1865148 | (8597) |
| Japanese yen | Buy | Toronto Dominion Bank | 2/20/2026 | 590352000 | 3881353 | 3820166 | (61187) |
| British pound | Sell | Bank of America | 2/6/2026 | 4260000 | 5708634 | 5829143 | (120509) |
| British pound | Sell | Barclays Bank PLC | 2/6/2026 | 6053000 | 8100808 | 8282583 | (181775) |
| British pound | Sell | Morgan Stanley | 2/6/2026 | 3949000 | 5301831 | 5403588 | (101757) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 6993000 | 9285838 | 9568826 | (282988) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 3019000 | 4052736 | 4131028 | (78292) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 196356000 | 262902619 | 268682451 | (5779832) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 2750000 | 3671403 | 3762944 | (91541) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 7503000 | 9995053 | 10266681 | (271628) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 4202000 | 5621531 | 5749779 | (128248) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 635000 | 857885 | 868898 | (11013) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 2461000 | 3322805 | 3367493 | (44688) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 856000 | 1147195 | 1171302 | (24107) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 1225000 | 1651290 | 1676221 | (24931) |
| British pound | Sell | State Street Bank and Trust | 2/6/2026 | 174000 | 238074 | 238092 | (18) |
| Euro | Sell | Bank of America | 3/6/2026 | 1280000 | 1490216 | 1519467 | (29251) |
| Euro | Sell | Citibank | 3/6/2026 | 3312000 | 3908572 | 3931621 | (23049) |
| Euro | Sell | J.P. Morgan | 3/6/2026 | 1293000 | 1509859 | 1534899 | (25040) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 3344000 | 3875522 | 3969608 | (94086) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 1058000 | 1234193 | 1255935 | (21742) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 1509000 | 1764590 | 1791309 | (26719) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 3720000 | 4350271 | 4415951 | (65680) |

---

*See Notes to Financial Statements.* 87

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward<br> Foreign<br> Currency<br> Exchange<br> Contracts | Transaction<br> Type | Counterparty | Expiration<br> Date | Foreign<br> Currency | U.S. $ Cost on<br> Origination<br> Date | U.S. $ Current<br> Value | Unrealized<br> Depreciation |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 1277000 | $1494740 | $1515906 | $(21166) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 192000 | 226946 | 227920 | (974) |
| Euro | Sell | Morgan Stanley | 3/6/2026 | 6422000 | 7511458 | 7623452 | (111994) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 108902000 | 126222863 | 129275789 | (3052926) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 2313000 | 2703169 | 2745725 | (42556) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 1812000 | 2117587 | 2150996 | (33409) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 3226000 | 3802527 | 3829532 | (27005) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 1642000 | 1922691 | 1949191 | (26500) |
| Euro | Sell | State Street Bank and Trust | 3/6/2026 | 3837000 | 4515911 | 4554840 | (38929) |
| Euro | Sell | Toronto Dominion Bank | 3/6/2026 | 1945000 | 2286765 | 2308878 | (22113) |
| *Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts* | *Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts* |  |  | $(11923658) |

---

**Futures Contracts at January 31, 2026:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Type | Expiration | Contracts | Position | Notional<br> Amount | Notional<br> Value | Unrealized<br> Depreciation |
| U.S. 2-Year Treasury Note | March 2026 | 1337 | Long | $279028137 | $278754055 | $(274082) |

---

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | $– | $– | $18296460 | $18296460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries |  | 24308918 |  | 24308918 |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care Providers & Services |  | 948667 | 213011 | 1161678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries |  | 782897 |  | 782897 |
| &nbsp;&nbsp;&nbsp;Convertible Bonds |  | 202186992 |  | 202186992 |
| &nbsp;&nbsp;&nbsp;Convertible Preferred Stocks |  | 19459406 |  | 19459406 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entertainment |  | 126393708 | 12924105 | 139317813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries |  | 8406464199 |  | 8406464199 |
| &nbsp;&nbsp;&nbsp;Floating Rate Loans |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial Services |  | 73663921 | 16501650 | 90165571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified Financial Services |  |  | 7435395 | 7435395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries |  | 560403197 |  | 560403197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less Unfunded Loan Commitments |  | (8044519) |  | (8044519) |

---

88 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(concluded)**

SHORT DURATION HIGH YIELD FUND *January 31, 2026*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;Government Sponsored Enterprises |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | $– | $51878266 | $– | $51878266 |
| &nbsp;&nbsp;&nbsp;Non-Agency Commercial Mortgage-Backed Securities |  | 6301629 |  | 6301629 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 44556128 |  | 44556128 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 36614579 |  | 36614579 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 329531213 | – | – | 329531213 |
| Total | $329531213 | $9545917988 | $55370621 | $9930819822 |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Centrally Cleared Credit Default Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  | (165405) |  | (165405) |
| &nbsp;&nbsp;&nbsp;Centrally Cleared Interest Rate Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  | (3218807) |  | (3218807) |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets |  | 3509192 |  | 3509192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities |  | (11923658) |  | (11923658) |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities | (274082) | – | – | (274082) |
| Total | $(274082) | $(11798678) | $– | $(12072760) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets. Management has determined not to provide a reconciliation and a summary of unobservable inputs as the balance of Level 3 investments was not considered to be material to the Fund's net assets at the beginning or end of the period.

*See Notes to Financial Statements.* 89

**Statements of Assets and Liabilities (unaudited)**

*January 31, 2026*

---

| | | |
|:---|:---|:---|
|  | **Emerging<br> Markets<br> Equity Fund** | **International<br> Growth Fund** |
| **ASSETS:** |  |  |
| Investments in securities, at cost | $7614799 | $2958887 |
| Investments in securities, at fair value including $0, $0, $4,762,944 and $348,198,152, respectively, of securities loaned | $10693568 | $4309223 |
| Cash | 58327 | 29318 |
| Cash at brokers for forwards, swap contracts and TBA collateral |  |  |
| Deposits with brokers for futures collateral |  |  |
| Deposits with brokers for forwards and swap contracts collateral |  |  |
| Foreign cash, at value (cost $8,922, $64,057, $289,197 and $1,196,422, respectively) | 4580 | 63260 |
| Receivables: |  |  |
| &nbsp;&nbsp;&nbsp;From advisor (See Note 4) | 19693 | 19686 |
| &nbsp;&nbsp;&nbsp;Capital shares sold | 12125 | 1032 |
| &nbsp;&nbsp;&nbsp;Interest and dividends | 11201 | 1217 |
| &nbsp;&nbsp;&nbsp;Investment securities sold |  | 23360 |
| &nbsp;&nbsp;&nbsp;Variation margin for futures contracts |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income |  |  |
| Unrealized appreciation on forward foreign currency exchange contracts |  |  |
| Unrealized appreciation on unfunded loan commitments |  |  |
| Prepaid expenses | 99839 | 48769 |
| **Total assets** | 10899333 | 4495865 |
| **LIABILITIES:** |  |  |
| Payables: |  |  |
| Foreign capital gains taxes deferred | 27467 | 664 |
| &nbsp;&nbsp;&nbsp;Management fee | 4992 | 1645 |
| &nbsp;&nbsp;&nbsp;Investment securities purchased | 4638 | 22847 |
| &nbsp;&nbsp;&nbsp;12b-1 distribution plan | 1699 | 602 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | 919 | 1287 |
| &nbsp;&nbsp;&nbsp;Fund administration | 307 | 146 |
| &nbsp;&nbsp;&nbsp;Capital shares reacquired |  |  |
| &nbsp;&nbsp;&nbsp;To brokers for forwards, swap contracts and TBA collateral |  |  |
| &nbsp;&nbsp;&nbsp;Variation margin for futures contracts |  |  |
| &nbsp;&nbsp;&nbsp;Variation margin for centrally cleared swap contract agreements |  |  |
| &nbsp;&nbsp;&nbsp;To bank |  |  |
| &nbsp;&nbsp;&nbsp;Collateral due to broker for securities lending |  |  |
| Unrealized depreciation on forward foreign currency exchange contracts |  |  |
| Distributions payable |  |  |
| Accrued expenses | 34241 | 36209 |
| **Total liabilities** | 74263 | 63400 |
| **Commitments and contingent liabilities** | – | – |
| **NET ASSETS** | $10825070 | $4432465 |
| **COMPOSITION OF NET ASSETS:** |  |  |
| Paid-in capital | $8083785 | $3427809 |
| Total distributable earnings/(loss) | 2741285 | 1004656 |
| **Net Assets** | $10825070 | $4432465 |

---

90 *See Notes to Financial Statements.*

---

| | |
|:---|:---|
| **Investment<br> Grade Floating<br> Rate Fund** | **Short<br> Duration High<br> Yield Fund** |
| $3883137734 | $9834562205 |
| $3889964402 | $9930819822 |
| 4538971 |  |
|  | 1890000 |
| 2809325 | 1604400 |
| 13930783 | 23268003 |
| 291769 | 1194776 |
| 34404826 | 79565952 |
| 13648198 | 179820479 |
| 21009349 | 111916454 |
|  | 114855 |
| 297 | 313651 |
|  | 3509192 |
| 6259 | 22338 |
| 293064 | 224224 |
| 3980897243 | 10334264146 |
| 694642 | 2551200 |
| 169241796 | 156875830 |
| 86531 | 552770 |
| 28236 | 286442 |
| 124224 | 324804 |
| 20227124 | 30678097 |
|  | 1890000 |
| 1089099 |  |
| 86163 | 433365 |
|  | 1494097 |
| 4892500 | 366145792 |
| 155682 | 11923658 |
| 17483821 | 62422905 |
| 23065 | 757125 |
| 214132883 | 636336085 |
| – | – |
| $3766764360 | $9697928061 |
| $3767242227 | $9701196546 |
| (477867) | (3268485) |
| $3766764360 | $9697928061 |

---

*See Notes to Financial Statements.* 91

**Statements of Assets and Liabilities (unaudited)(concluded)**

*January 31, 2026*

---

| | | |
|:---|:---|:---|
|  | **Emerging<br> Markets<br> Equity Fund** | **International<br> Growth Fund** |
| **Net Assets by class:** |  |  |
| Class A Shares | $5004521 | $2171729 |
| Class C Shares | $900323 | $161996 |
| Class F Shares | $44242 | $123875 |
| Class F3 Shares | $375967 | $12375 |
| Class I Shares | $3372116 | $406848 |
| Class R3 Shares | $– | $18056 |
| Class R4 Shares | $– | $12318 |
| Class R5 Shares | $– | $12340 |
| Class R6 Shares | $1127901 | $1512928 |
| **Outstanding shares by class (unlimited number of authorized shares of beneficial interest):** |  |  |
| Class A Shares | 222767 | 117586 |
| Class C Shares | 40324 | 8944 |
| Class F Shares | 1960 | 6667 |
| Class F3 Shares | 16667 | 667 |
| Class I Shares | 149827 | 21980 |
| Class R3 Shares |  | 980 |
| Class R4 Shares |  | 667 |
| Class R5 Shares |  | 667 |
| Class R6 Shares | 50000 | 81516 |
| **Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):\*** |  |  |
| Class A Shares-Net asset value | $22.47 | $18.47 |
| Class A Shares-Maximum offering price (Net asset value plus sales charge of 5.75%, 5.75%, 2.25% and 2.25%, respectively) | $23.84 | $19.60 |
| Class C Shares-Net asset value | $22.33 | $18.11 |
| Class F Shares-Net asset value | $22.58 | $18.58 |
| Class F3 Shares-Net asset value | $22.56 | $18.56 |
| Class I Shares-Net asset value | $22.51 | $18.51 |
| Class R3 Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.42 |
| Class R4 Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.48 |
| Class R5 Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.51 |
| Class R6 Shares-Net asset value | $22.56 | $18.56 |

---

\* Net asset value may not recalculate due to rounding of fractional shares.

92 *See Notes to Financial Statements.*

---

| | |
|:---|:---|
| **Investment<br> Grade Floating<br> Rate Fund** | **Short<br> Duration High<br> Yield Fund** |
| $380613095 | $1074880450 |
| $66770657 | $371822815 |
| $49310863 | $74643833 |
| $139850367 | $509784601 |
| $3130196525 | $7648453721 |
| $– | $910636 |
| $– | $46404 |
| $10817 | $3922518 |
| $12036 | $13463083 |
| 37137415 | 109412249 |
| 6514339 | 37849408 |
| 4809108 | 7603920 |
| 13645731 | 51867589 |
| 305397436 | 780099928 |
|  | 92702 |
|  | 4725 |
| 1056 | 399332 |
| 1174 | 1370766 |
| $10.25 | $9.82 |
| $10.49 | $10.05 |
| $10.25 | $9.82 |
| $10.25 | $9.82 |
| $10.25 | $9.83 |
| $10.25 | $9.80 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $9.82 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $9.82 |
| $10.25 | $9.82 |
| $10.25 | $9.82 |

---

*See Notes to Financial Statements.* 93

**Statements of Operations (unaudited)**

*For the Six Months Ended January 31, 2026*

---

| | | |
|:---|:---|:---|
|  | **Emerging<br> Markets<br> Equity Fund** | **International<br> Growth Fund** |
| **Investment income:** |  |  |
| Dividends (net of foreign withholding taxes of $7,394, $1,553, $0 and $0, respectively) | $56908 | $13862 |
| Securities lending net income |  |  |
| Interest and other (net of foreign withholding taxes of $0, $0, $814 and $33,901, respectively) | 1489 | 143 |
| **Total investment income** | 58397 | 14005 |
| **Expenses:** |  |  |
| Management fee | 23430 | 8857 |
| 12b-1 distribution plan-Class A | 5059 | 2457 |
| 12b-1 distribution plan-Class C | 4077 | 740 |
| 12b-1 distribution plan-Class F | 20 | 58 |
| 12b-1 distribution plan-Class R3 |  | 42 |
| 12b-1 distribution plan-Class R4 |  | 14 |
| Registration | 76108 | 73191 |
| Professional | 24022 | 27487 |
| Custody | 18576 | 12701 |
| Reports to shareholders | 3098 | 828 |
| Fund administration | 1442 | 787 |
| Shareholder servicing | 703 | 754 |
| Trustees' fees | 271 | 271 |
| Other | 5368 | 6870 |
| Gross expenses | 162174 | 135057 |
| Fees waived and expenses reimbursed (See Note 4) | (120711) | (118260) |
| **Net expenses** | 41463 | 16797 |
| **Net investment income (loss)** | 16934 | (2792) |
| **Net realized and unrealized gain/(loss):** |  |  |
| Net realized gain/(loss) on investments | 172909 | 100011 |
| Net realized gain/(loss) on futures contracts | 4379 |  |
| Net realized gain/(loss) on forward foreign currency exchange contracts |  |  |
| Net realized gain/(loss) on OTC written options |  |  |
| Net realized gain/(loss) on swap contracts |  |  |
| Net realized gain/(loss) on foreign capital gains taxes | (2174) | 162 |
| Net realized gain/(loss) on foreign currency related transactions | (5525) | (942) |
| Net change in unrealized appreciation/(depreciation) on investments | 1484144 | 503096 |
| Net change in unrealized appreciation/(depreciation) on futures contracts |  |  |
| Net change in unrealized appreciation/(depreciation) on forward foreign currency exchange contracts |  |  |
| Net change in unrealized appreciation/(depreciation) on swap contracts |  |  |
| Net change in unrealized appreciation/(depreciation) on deferred foreign capital gains taxes | (3137) | 824 |
| Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies | 2125 | 1032 |
| Net change in unrealized appreciation/(depreciation) on unfunded loan commitments | – | – |
| **Net realized and unrealized gain/(loss)** | 1652721 | 604183 |
| **Net Increase in Net Assets Resulting From Operations** | $1669655 | $601391 |

---

94 *See Notes to Financial Statements.*

---

| | |
|:---|:---|
| **Investment<br> Grade Floating<br> Rate Fund** | **Short<br> Duration High<br> Yield Fund** |
| $– | $493945 |
| 5324 | 1677722 |
| 102055272 | 361959945 |
| 102060596 | 364131612 |
| 3647798 | 14571221 |
| 309097 | 991115 |
| 261749 | 1595286 |
| 23665 | 47985 |
|  | 2353 |
|  | 103 |
| 344619 | 260625 |
| 71470 | 153040 |
| 16808 | 102666 |
| 49759 | 248709 |
| 646808 | 1854139 |
| 1377821 | 3206214 |
| 59233 | 215452 |
| 53664 | 127155 |
| 6862491 | 23376063 |
| (252974) | (227875) |
| 6609517 | 23148188 |
| 95451079 | 340983424 |
| (2722303) | (19902053) |
| 1258191 | 6424505 |
| 238473 | 5060859 |
| 800250 |  |
| (1970622) | 16550166 |
| 348 | (825982) |
| 4266232 | 60864369 |
| 158110 | 3551039 |
| (351870) | (15378656) |
| 743991 | (973062) |
| 2994 | 303655 |
| 4653 | 22338 |
| 2428447 | 55697178 |
| $97879526 | $396680602 |

---

*See Notes to Financial Statements.* 95

**Statements of Changes in Net Assets**

*For the Six Months Ended January 31, 2026*

---

| | | |
|:---|:---|:---|
|  | **Emerging Markets Equity Fund** | **Emerging Markets Equity Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the Six**<br> **Months Ended**<br> **January 31, 2026**<br> **(unaudited)** | **For the**<br> **Year Ended**<br> **July 31, 2025** |
| **Operations:** |  |  |
| Net investment income (loss) | $16934 | $73987 |
| Net realized gain/(loss) | 169589 | 118312 |
| Net change in unrealized appreciation/(depreciation) | 1483132 | 709952 |
| **Net increase in net assets resulting from operations** | 1669655 | 902251 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (39949) | (35541) |
| &nbsp;&nbsp;&nbsp;Class C | (2919) | (2405) |
| &nbsp;&nbsp;&nbsp;Class F | (448) | (319) |
| &nbsp;&nbsp;&nbsp;Class F3 | (4130) | (3441) |
| &nbsp;&nbsp;&nbsp;Class I | (8968) | (6567) |
| &nbsp;&nbsp;&nbsp;Class R3 |  |  |
| &nbsp;&nbsp;&nbsp;Class R4 |  |  |
| &nbsp;&nbsp;&nbsp;Class R5 |  |  |
| &nbsp;&nbsp;&nbsp;Class R6 | (12390) | (10325) |
| **Total distribution to shareholders** | (68804) | (58598) |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 3304992 | 384785 |
| Reinvestment of distributions | 8962 | 3701 |
| Cost of shares reacquired | (463749) | (394510) |
| **Net increase (decrease) in net assets resulting from capital share transactions** | 2850205 | (6024) |
| **Net increase in net assets** | 4451056 | 837629 |
| **NET ASSETS:** |  |  |
| Beginning of period | $6374014 | $5536385 |
| **End of period** | $10825070 | $6374014 |

---

96 *See Notes to Financial Statements.*

---

| | |
|:---|:---|
| **International Growth Fund** | **International Growth Fund** |
| **For the Six<br> Months Ended<br> January 31, 2026<br> (unaudited)** | **For the<br> Year Ended<br> July 31, 2025** |
| $(2792) | $11272 |
| 99231 | 140072 |
| 504952 | 239647 |
| 601391 | 390991 |
| (2981) | (3384) |
| (323) | (343) |
| (43) | (44) |
| (1454) | (927) |
| (16) | (20) |
| (42) | (44) |
| (5171) | (4126) |
| (10030) | (8888) |
| 328784 | 952665 |
| 3344 | 2703 |
| (44753) | (709888) |
| 287375 | 245480 |
| 878736 | 627583 |
| $3553729 | $2926146 |
| $4432465 | $3553729 |

---

*See Notes to Financial Statements.* 97

**Statements of Changes in Net Assets (concluded)**

*For the Six Months Ended January 31, 2026*

---

| | | |
|:---|:---|:---|
|  | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the Six<br> Months Ended<br> January 31, 2026<br> (unaudited)** | **For the<br> Year Ended<br> July 31, 2025** |
| **Operations:** |  |  |
| Net investment income (loss) | $95451079 | $65462682 |
| Net realized gain/(loss) | (2395663) | (2972155) |
| Net change in unrealized appreciation/(depreciation) | 4824110 | 1168083 |
| **Net increase in net assets resulting from operations** | 97879526 | 63658610 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (8953958) | (5056070) |
| &nbsp;&nbsp;&nbsp;Class C | (1332872) | (803556) |
| &nbsp;&nbsp;&nbsp;Class F | (1403913) | (2422391) |
| &nbsp;&nbsp;&nbsp;Class F3 | (3340646) | (639479) |
| &nbsp;&nbsp;&nbsp;Class I | (81249109) | (57058280) |
| &nbsp;&nbsp;&nbsp;Class R3 |  |  |
| &nbsp;&nbsp;&nbsp;Class R4 |  |  |
| &nbsp;&nbsp;&nbsp;Class R5 | (324) | (1057) |
| &nbsp;&nbsp;&nbsp;Class R6 | (369) | (38328) |
| **Total distribution to shareholders** | (96281191) | (66019161) |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 1754956981 | 3120321932 |
| Reinvestment of distributions | 96069428 | 65680433 |
| Cost of shares reacquired | (782671975) | (527756974) |
| **Net increase (decrease) in net assets resulting from capital share transactions** | 1068354434 | 2658245391 |
| **Net increase in net assets** | 1069952769 | 2655884840 |
| **NET ASSETS:** |  |  |
| Beginning of period | $2696811591 | $40926751 |
| **End of period** | $3766764360 | $2696811591 |

---

98 *See Notes to Financial Statements.*

---

| | |
|:---|:---|
| **Short Duration High Yield Fund** | **Short Duration High Yield Fund** |
| **For the Six<br> Months Ended<br> January 31, 2026<br> (unaudited)** | **For the<br> Year Ended<br> July 31, 2025** |
| $340983424 | $566748011 |
| 7307495 | (18895925) |
| 48389683 | (42977640) |
| 396680602 | 504874446 |
| (38683394) | (60924518) |
| (12106004) | (18774936) |
| (3809354) | (10004617) |
| (19443886) | (29770687) |
| (293557962) | (509467615) |
| (35236) | (73004) |
| (3183) | (9452) |
| (149397) | (88419) |
| (527411) | (890856) |
| (368315827) | (630004104) |
| 2314740097 | 6007596042 |
| 350782613 | 605777606 |
| (1603774757) | (3079874612) |
| 1061747953 | 3533499036 |
| 1090112728 | 3408369378 |
| $8607815333 | $5199445955 |
| $9697928061 | $8607815333 |

---

*See Notes to Financial Statements.* 99

**Financial Highlights**

EMERGING MARKETS EQUITY FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to <br> shareholders <br> from:** | |
|  |<br>**Net asset** <br> **value,**<br> **beginning**<br> **of period** | **Net** <br> **invest–**<br> **ment** <br> **income**<br> **(loss)**<sup>(a)</sup> | **Net** <br> **realized** <br> **and** <br> **unrealized** <br> **gain/**<br> **(loss)** | **Total** <br> **from** <br> **invest–**<br> **ment** <br> **opera–**<br> **tions** | **Net**<br> **investment**<br> **income** |<br>**Net**<br> **asset** <br> **value,**<br> **end of** <br> **period** |
| **Class A** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $18.15 | $0.05 | $4.47 | $4.52 | $(0.20) | $22.47 |
| 7/31/2025 | 15.77 | 0.21 | 2.34 | 2.55 | (0.17) | 18.15 |
| 7/31/2024 | 14.41 | 0.24 | 1.32 | 1.56 | (0.20) | 15.77 |
| 7/31/2023 | 13.56 | 0.21 | 0.89 | 1.10 | (0.25) | 14.41 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.17 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.44) |  | 13.56 |
| **Class C** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 17.99 | (0.02) | 4.43 | 4.41 | (0.07) | 22.33 |
| 7/31/2025 | 15.65 | 0.09 | 2.31 | 2.40 | (0.06) | 17.99 |
| 7/31/2024 | 14.30 | 0.13 | 1.32 | 1.45 | (0.10) | 15.65 |
| 7/31/2023 | 13.52 | 0.11 | 0.88 | 0.99 | (0.21) | 14.30 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.13 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.48) |  | 13.52 |
| **Class F** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 18.24 | 0.07 | 4.50 | 4.57 | (0.23) | 22.58 |
| 7/31/2025 | 15.84 | 0.25 | 2.34 | 2.59 | (0.19) | 18.24 |
| 7/31/2024 | 14.46 | 0.27 | 1.33 | 1.60 | (0.22) | 15.84 |
| 7/31/2023 | 13.58 | 0.25 | 0.89 | 1.14 | (0.26) | 14.46 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.19 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.42) |  | 13.58 |
| **Class F3** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 18.24 | 0.08 | 4.49 | 4.57 | (0.25) | 22.56 |
| 7/31/2025 | 15.84 | 0.26 | 2.35 | 2.61 | (0.21) | 18.24 |
| 7/31/2024 | 14.47 | 0.28 | 1.32 | 1.60 | (0.23) | 15.84 |
| 7/31/2023 | 13.58 | 0.26 | 0.89 | 1.15 | (0.26) | 14.47 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.19 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.42) |  | 13.58 |
| **Class I** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 18.20 | 0.02 | 4.54 | 4.56 | (0.25) | 22.51 |
| 7/31/2025 | 15.81 | 0.26 | 2.34 | 2.60 | (0.21) | 18.20 |
| 7/31/2024 | 14.45 | 0.27 | 1.32 | 1.59 | (0.23) | 15.81 |
| 7/31/2023 | 13.58 | 0.25 | 0.88 | 1.13 | (0.26) | 14.45 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.19 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.42) |  | 13.58 |

---

100 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total**<br> **return**<br> **(%)**<sup>(b)</sup> | **Total**<br> **expenses**<br> **after**<br> **waivers**<br> **and/or reim–**<br> **bursements**<br> **(%)** | **Total**<br> **expenses**<br> **(%)** | **Net**<br> **invest–**<br> **ment**<br> **income**<br> **(loss)**<br> **(%)** | **Net**<br> **assets,**<br> **end of**<br> **period**<br> **(000)** | **Portfolio**<br> **turnover**<br> **rate**<br> **(%)** |
| 25.01 <sup>(d)</sup> | 1.15 <sup>(e)</sup> | 4.51 <sup>(e)</sup> | 0.51 <sup>(e)</sup> | $5005 | 29 <sup>(d)</sup> |
| 16.31 | 1.15 | 5.58 | 1.27 | 3761 | 80 |
| 11.01 | 1.15 | 6.03 | 1.65 | 3410 | 79 |
| 8.21 | 1.18 | 5.10 | 1.59 | 3006 | 145 |
| (9.53)<sup>(d)(h)</sup> | 1.24 <sup>(e)</sup> | 3.77 <sup>(e)</sup> | 2.86 <sup>(e)</sup> | 2727 | 56 <sup>(d)</sup> |
| 24.58 <sup>(d)</sup> | 1.90 <sup>(e)</sup> | 5.26 <sup>(e)</sup> | (0.25)<sup>(e)</sup> | 900 | 29 <sup>(d)</sup> |
| 15.41 | 1.90 | 6.37 | 0.55 | 737 | 80 |
| 10.22 | 1.90 | 6.77 | 0.90 | 543 | 79 |
| 7.37 | 1.93 | 5.85 | 0.84 | 496 | 145 |
| (9.80)<sup>(d)(h)</sup> | 1.99 <sup>(e)</sup> | 4.52 <sup>(e)</sup> | 2.11 <sup>(e)</sup> | 451 | 56 <sup>(d)</sup> |
| 25.24 <sup>(d)</sup> | 0.90 <sup>(e)</sup> | 4.37 <sup>(e)</sup> | 0.74 <sup>(e)</sup> | 44 | 29 <sup>(d)</sup> |
| 16.61 | 0.90 | 5.45 | 1.52 | 30 | 80 |
| 11.20 | 0.90 | 5.86 | 1.90 | 26 | 79 |
| 8.57 | 0.94 | 4.93 | 1.83 | 24 | 145 |
| (9.47)<sup>(d)(h)</sup> | 0.99 <sup>(e)</sup> | 3.62 <sup>(e)</sup> | 3.11 <sup>(e)</sup> | 23 | 56 <sup>(d)</sup> |
| 25.23 <sup>(d)</sup> | 0.87 <sup>(e)</sup> | 4.26 <sup>(e)</sup> | 0.78 <sup>(e)</sup> | 376 | 29 <sup>(d)</sup> |
| 16.65 | 0.87 | 5.32 | 1.56 | 304 | 80 |
| 11.30 | 0.82 | 5.76 | 1.98 | 264 | 79 |
| 8.61 | 0.85 | 4.74 | 1.91 | 241 | 145 |
| (9.40)<sup>(d)(h)</sup> | 0.91 <sup>(e)</sup> | 3.41 <sup>(e)</sup> | 3.20 <sup>(e)</sup> | 226 | 56 <sup>(d)</sup> |
| 25.23 <sup>(d)</sup> | 0.90 <sup>(e)</sup> | 4.13 <sup>(e)</sup> | 0.48 <sup>(e)</sup> | 3372 | 29 <sup>(d)</sup> |
| 16.62 | 0.90 | 5.37 | 1.55 | 629 | 80 |
| 11.24 | 0.90 | 5.77 | 1.90 | 501 | 79 |
| 8.54 | 0.93 | 4.82 | 1.83 | 458 | 145 |
| (9.47)<sup>(d)(h)</sup> | 0.99 <sup>(e)</sup> | 3.52 <sup>(e)</sup> | 3.11 <sup>(e)</sup> | 430 | 56 <sup>(d)</sup> |

---

*See Notes to Financial Statements.* 101

**Financial Highlights (unaudited)(concluded)**

EMERGING MARKETS EQUITY FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to <br> shareholders <br> from:** | |
|  |<br>**Net asset** <br> **value,**<br> **beginning**<br> **of period** | **Net** <br> **invest–**<br> **ment** <br> **income**<br> **(loss)**<sup>(a)</sup> | **Net** <br> **realized** <br> **and** <br> **unrealized** <br> **gain/**<br> **(loss)** | **Total** <br> **from** <br> **invest–**<br> **ment** <br> **opera–**<br> **tions** | **Net**<br> **investment**<br> **income** |<br>**Net**<br> **asset** <br> **value,**<br> **end of** <br> **period** |
| **Class R6** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $18.24 | $0.08 | $4.49 | $4.57 | (0.25) | 22.56 |
| 7/31/2025 | 15.84 | 0.26 | 2.35 | 2.61 | (0.21) | 18.24 |
| 7/31/2024 | 14.47 | 0.28 | 1.32 | 1.60 | (0.23) | 15.84 |
| 7/31/2023 | 13.58 | 0.26 | 0.89 | 1.15 | (0.26) | 14.47 |
| 3/2/2022 to 7/31/2022<sup>(f)</sup> | 15.00 | 0.19 <sup>(g)</sup> | (1.61)<sup>(g)</sup> | (1.42) |  | 13.58 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Class A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Unaudited.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Annualized.

<sup>(f)</sup> Commencement of operations was on 3/2/2022, SEC effective date and date shares first became available to the public was 3/10/2022.

<sup>(g)</sup> Net investment income and net realized and unrealized gain (loss) amounted to less than $0.01 for the period 3/2/2022 through 3/10/2022.

<sup>(h)</sup> Total return for the period 3/10/2022 through 7/31/2022 was (9.41%) for Class A, (9.68%) for Class C, (9.35%) for Class F, (9.28%) for Class F3, (9.35%) for Class I, and (9.28%) for Class R6.

102 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total**<br> **return**<br> **(%)**<sup>(b)</sup> | **Total**<br> **expenses**<br> **after**<br> **waivers**<br> **and/or reim–**<br> **bursements**<br> **(%)** | **Total**<br> **expenses**<br> **(%)** | **Net**<br> **invest–**<br> **ment**<br> **income**<br> **(loss)**<br> **(%)** | **Net**<br> **assets,**<br> **end of**<br> **period**<br> **(000)** | **Portfolio**<br> **turnover**<br> **rate**<br> **(%)** |
| 25.23 <sup>(d)</sup> | 0.87 <sup>(e)</sup> | 4.26 <sup>(e)</sup> | 0.78 <sup>(e)</sup> | $1128 | 29 <sup>(d)</sup> |
| 16.65 | 0.87 | 5.32 | 1.56 | 912 | 80 |
| 11.30 | 0.82 | 5.76 | 1.98 | 792 | 79 |
| 8.61 | 0.85 | 4.75 | 1.91 | 723 | 145 |
| (9.40)<sup>(d)(h)</sup> | 0.91 <sup>(e)</sup> | 3.41 <sup>(e)</sup> | 3.19 <sup>(e)</sup> | 679 | 56 <sup>(d)</sup> |

---

*See Notes to Financial Statements.* 103

**Financial Highlights (unaudited)**

INTERNATIONAL GROWTH FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to <br> shareholders <br> from:** | |
|  |<br>**Net asset** <br> **value,**<br> **beginning**<br> **of period** | **Net** <br> **invest–**<br> **ment** <br> **income**<br> **(loss)**<sup>(a)</sup> | **Net** <br> **realized** <br> **and** <br> **unrealized** <br> **gain/**<br> **(loss)** | **Total** <br> **from** <br> **invest–**<br> **ment** <br> **opera–**<br> **tions** | **Net**<br> **investment**<br> **income** |<br>**Net**<br> **asset** <br> **value,**<br> **end of** <br> **period** |
| **Class A** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $15.91 | $(0.02) | $2.61 | $2.59 | $(0.03) | $18.47 |
| 7/31/2025 | 14.15 | 0.04 | 1.75 | 1.79 | (0.03) | 15.91 |
| 7/31/2024 | 12.66 | 0.06 | 1.49 | 1.55 | (0.06) | 14.15 |
| 7/31/2023 | 11.58 | 0.05 | 1.10 | 1.15 | (0.07) | 12.66 |
| 7/31/2022 | 15.12 | 0.06 | (3.60) | (3.54) |  | 11.58 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | (0.01)<sup>(g)</sup> | 0.13 <sup>(g)</sup> | 0.12 |  | 15.12 |
| **Class C** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 15.64 | (0.08) | 2.55 | 2.47 |  | 18.11 |
| 7/31/2025 | 13.99 | (0.07) | 1.72 | 1.65 |  | 15.64 |
| 7/31/2024 | 12.54 | (0.04) | 1.49 | 1.45 |  | 13.99 |
| 7/31/2023 | 11.49 | (0.04) | 1.09 | 1.05 |  | 12.54 |
| 7/31/2022 | 15.11 | (0.04) | (3.58) | (3.62) |  | 11.49 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | (0.02)<sup>(g)</sup> | 0.13 <sup>(g)</sup> | 0.11 |  | 15.11 |
| **Class F** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 16.01 | – <sup>(i)</sup> | 2.62 | 2.62 | (0.05) | 18.58 |
| 7/31/2025 | 14.23 | 0.07 | 1.76 | 1.83 | (0.05) | 16.01 |
| 7/31/2024 | 12.71 | 0.09 | 1.51 | 1.60 | (0.08) | 14.23 |
| 7/31/2023 | 11.62 | 0.08 | 1.10 | 1.18 | (0.09) | 12.71 |
| 7/31/2022 | 15.13 | 0.09 | (3.60) | (3.51) |  | 11.62 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | – <sup>(g)(i)</sup> | 0.13 <sup>(g)</sup> | 0.13 |  | 15.13 |
| **Class F3** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 16.01 | – <sup>(i)</sup> | 2.61 | 2.61 | (0.06) | 18.56 |
| 7/31/2025 | 14.23 | 0.08 | 1.77 | 1.85 | (0.07) | 16.01 |
| 7/31/2024 | 12.72 | 0.09 | 1.51 | 1.60 | (0.09) | 14.23 |
| 7/31/2023 | 11.63 | 0.09 | 1.10 | 1.19 | (0.10) | 12.72 |
| 7/31/2022 | 15.12 | 0.10 | (3.59) | (3.49) |  | 11.63 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | – <sup>(g)(i)</sup> | 0.12 <sup>(g)</sup> | 0.12 |  | 15.12 |
| **Class I** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 15.96 | – <sup>(i)</sup> | 2.62 | 2.62 | (0.07) | 18.51 |
| 7/31/2025 | 14.20 | 0.09 | 1.74 | 1.83 | (0.07) | 15.96 |
| 7/31/2024 | 12.70 | 0.09 | 1.50 | 1.59 | (0.09) | 14.20 |
| 7/31/2023 | 11.62 | 0.02 | 1.16 | 1.18 | (0.10) | 12.70 |
| 7/31/2022 | 15.12 | 0.09 | (3.59) | (3.50) |  | 11.62 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | – <sup>(g)(i)</sup> | 0.12 <sup>(g)</sup> | 0.12 |  | 15.12 |
| **Class R3** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 15.87 | (0.04) | 2.59 | 2.55 |  | 18.42 |
| 7/31/2025 | 14.12 | – <sup>(i)</sup> | 1.75 | 1.75 |  | 15.87 |
| 7/31/2024 | 12.63 | 0.02 | 1.50 | 1.52 | (0.03) | 14.12 |
| 7/31/2023 | 11.55 | 0.03 | 1.09 | 1.12 | (0.04) | 12.63 |
| 7/31/2022 | 15.11 | 0.02 | (3.58) | (3.56) |  | 11.55 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | (0.01)<sup>(g)</sup> | 0.12 <sup>(g)</sup> | 0.11 |  | 15.11 |
| **Class R4** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 15.92 | (0.02) | 2.60 | 2.58 | (0.02) | 18.48 |
| 7/31/2025 | 14.16 | 0.04 | 1.75 | 1.79 | (0.03) | 15.92 |
| 7/31/2024 | 12.66 | 0.05 | 1.51 | 1.56 | (0.06) | 14.16 |
| 7/31/2023 | 11.58 | 0.05 | 1.10 | 1.15 | (0.07) | 12.66 |
| 7/31/2022 | 15.12 | 0.06 | (3.60) | (3.54) |  | 11.58 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | (0.01)<sup>(g)</sup> | 0.13 <sup>(g)</sup> | 0.12 |  | 15.12 |

---

104 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total**<br> **return**<br> **(%)**<sup>(b)</sup> | **Total<br> expenses<br> after<br> waivers<br> and/or reim–<br> bursements<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> invest–<br> ment<br> income<br> (loss)<br> (%)** | **Net<br> assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| 16.27 <sup>(d)</sup> | 0.95 <sup>(e)</sup> | 6.93 <sup>(e)</sup> | (0.23)<sup>(e)</sup> | $2172 | 44 <sup>(d)</sup> |
| 12.59 | 0.95 | 7.65 | 0.24 | 1804 | 125 |
| 12.38 | 0.95 | 9.37 | 0.43 | 1672 | 88 |
| 10.06 | 0.98 | 12.38 | 0.46 | 1747 | 86 |
| (23.41) | 1.06 | 6.90 | 0.45 | 1242 | 84 |
| 0.80 <sup>(d)(h)</sup> | 1.06 <sup>(e)</sup> | 16.19 <sup>(e)</sup> | (0.38)<sup>(e)</sup> | 1058 | 5 <sup>(d)</sup> |
| 15.79 <sup>(d)</sup> | 1.70 <sup>(e)</sup> | 7.68 <sup>(e)</sup> | (0.98)<sup>(e)</sup> | 162 | 44 <sup>(d)</sup> |
| 11.79 | 1.70 | 8.40 | (0.51) | 137 | 125 |
| 11.56 | 1.70 | 10.20 | (0.30) | 130 | 88 |
| 9.14 | 1.74 | 13.30 | (0.33) | 93 | 86 |
| (23.96) | 1.81 | 7.51 | (0.29) | 92 | 84 |
| 0.73 <sup>(d)(h)</sup> | 1.81 <sup>(e)</sup> | 16.91 <sup>(e)</sup> | (1.13)<sup>(e)</sup> | 102 | 5 <sup>(d)</sup> |
| 16.39 <sup>(d)</sup> | 0.70 <sup>(e)</sup> | 6.78 <sup>(e)</sup> | 0.02 <sup>(e)</sup> | 124 | 44 <sup>(d)</sup> |
| 12.91 | 0.70 | 7.50 | 0.49 | 107 | 125 |
| 12.65 | 0.70 | 9.23 | 0.67 | 95 | 88 |
| 10.33 | 0.73 | 12.35 | 0.69 | 85 | 86 |
| (23.27) | 0.81 | 6.51 | 0.68 | 77 | 84 |
| 0.87 <sup>(d)(h)</sup> | 0.81 <sup>(e)</sup> | 16.02 <sup>(e)</sup> | (0.14)<sup>(e)</sup> | 101 | 5 <sup>(d)</sup> |
| 16.37 <sup>(d)</sup> | 0.64 <sup>(e)</sup> | 6.69 <sup>(e)</sup> | 0.03 <sup>(e)</sup> | 12 | 44 <sup>(d)</sup> |
| 12.95 | 0.66 | 7.34 | 0.52 | 11 | 125 |
| 12.77 | 0.65 | 9.12 | 0.73 | 9 | 88 |
| 10.38 | 0.63 | 12.23 | 0.80 | 8 | 86 |
| (23.13) | 0.73 | 6.27 | 0.74 | 8 | 84 |
| 0.87 <sup>(d)(h)</sup> | 0.73 <sup>(e)</sup> | 15.76 <sup>(e)</sup> | (0.15)<sup>(e)</sup> | 10 | 5 <sup>(d)</sup> |
| 16.35 <sup>(d)</sup> | 0.70 <sup>(e)</sup> | 6.71 <sup>(e)</sup> | (0.03)<sup>(e)</sup> | 407 | 44 <sup>(d)</sup> |
| 12.98 | 0.69 | 7.29 | 0.62 | 225 | 125 |
| 12.62 | 0.70 | 9.09 | 0.66 | 201 | 88 |
| 10.36 | 0.69 | 9.81 | 0.15 | 233 | 86 |
| (23.27) | 0.81 | 6.43 | 0.67 | 8 | 84 |
| 0.87 <sup>(d)(h)</sup> | 0.81 <sup>(e)</sup> | 15.85 <sup>(e)</sup> | (0.09)<sup>(e)</sup> | 10 | 5 <sup>(d)</sup> |
| 16.07 <sup>(d)</sup> | 1.20 <sup>(e)</sup> | 7.21 <sup>(e)</sup> | (0.50)<sup>(e)</sup> | 18 | 44 <sup>(d)</sup> |
| 12.39 | 1.21 | 7.90 | (0.01) | 16 | 125 |
| 12.09 | 1.20 | 9.64 | 0.17 | 13 | 88 |
| 9.74 | 1.22 | 12.58 | 0.25 | 12 | 86 |
| (23.61) | 1.31 | 6.93 | 0.18 | 8 | 84 |
| 0.80 <sup>(d)(h)</sup> | 1.31 <sup>(e)</sup> | 16.38 <sup>(e)</sup> | (0.62)<sup>(e)</sup> | 10 | 5 <sup>(d)</sup> |
| 16.25 <sup>(d)</sup> | 0.95 <sup>(e)</sup> | 6.92 <sup>(e)</sup> | (0.23)<sup>(e)</sup> | 12 | 44 <sup>(d)</sup> |
| 12.67 | 0.93 | 7.62 | 0.25 | 11 | 125 |
| 12.37 | 0.95 | 9.39 | 0.42 | 9 | 88 |
| 10.01 | 1.00 | 12.52 | 0.43 | 8 | 86 |
| (23.41) | 1.06 | 6.68 | 0.41 | 8 | 84 |
| 0.80 <sup>(d)(h)</sup> | 1.06 <sup>(e)</sup> | 16.12 <sup>(e)</sup> | (0.35)<sup>(e)</sup> | 10 | 5 <sup>(d)</sup> |

---

*See Notes to Financial Statements.* 105

**Financial Highlights (unaudited)(concluded)**

INTERNATIONAL GROWTH FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br> shareholders<br> from:** | |
|  |<br>**Net asset<br> value,<br> beginning<br> of period** | **Net<br> invest–<br> ment<br> income<br> (loss)<sup>(a)</sup>** | **Net<br> realized<br> and<br> unrealized<br> gain/<br> (loss)** | **Total<br> from<br> invest–<br> ment<br> opera–<br> tions** | **Net<br> investment <br> income** |<br>**Net<br> asset<br> value,<br> end of<br> period** |
| **Class R5** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $15.96 | $– <sup>(i)</sup> | $2.61 | $2.61 | $(0.06) | $18.51 |
| 7/31/2025 | 14.20 | 0.07 | 1.76 | 1.83 | (0.07) | 15.96 |
| 7/31/2024 | 12.70 | 0.09 | 1.50 | 1.59 | (0.09) | 14.20 |
| 7/31/2023 | 11.62 | 0.08 | 1.10 | 1.18 | (0.10) | 12.70 |
| 7/31/2022 | 15.13 | 0.09 | (3.60) | (3.51) |  | 11.62 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | – <sup>(g)(i)</sup> | 0.13 <sup>(g)</sup> | 0.13 |  | 15.13 |
| **Class R6** |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 16.00 | – <sup>(i)</sup> | 2.62 | 2.62 | (0.06) | 18.56 |
| 7/31/2025 | 14.23 | 0.09 | 1.75 | 1.84 | (0.07) | 16.00 |
| 7/31/2024 | 12.72 | 0.10 | 1.50 | 1.60 | (0.09) | 14.23 |
| 7/31/2023 | 11.63 | 0.10 | 1.09 | 1.19 | (0.10) | 12.72 |
| 7/31/2022 | 15.13 | 0.10 | (3.60) | (3.50) |  | 11.63 |
| 6/18/2021 to 7/31/2021<sup>(f)</sup> | 15.00 | – <sup>(g)(i)</sup> | 0.13 <sup>(g)</sup> | 0.13 |  | 15.13 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Unaudited.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Annualized.

<sup>(f)</sup> Commencement of operations was on 6/18/2021, SEC effective date and date shares first became available to the public was 6/28/2021.

<sup>(g)</sup> Net investment income and net realized and unrealized gain (loss) amounted to less than $0.01 for the period 6/18/2021 through 6/28/2021.

<sup>(h)</sup> Total return for the period 6/28/2021 through 7/31/2021 was (0.40%) for Class A, (0.46%) for Class C, (0.33%) for Class F, (0.33%) for Class F3, (0.33%) for Class I, (0.40%) for Class R3, (0.40%) for Class R4, (0.33%) for Class R5, and (0.33%) for Class R6.

<sup>(i)</sup> Amount less than $0.01.

106 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total<br> return<br> (%)<sup>(b)</sup>** | **Total<br> expenses<br> after<br> waivers<br> and/or reim–<br> bursements<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> invest–<br> ment<br> income<br> (loss)<br> (%)** | **Net<br> assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| 16.35 <sup>(d)</sup> | 0.70 <sup>(e)</sup> | 6.69 <sup>(e)</sup> | (0.03)<sup>(e)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;12 | 44 <sup>(d)</sup> |
| 12.98 | 0.71 | 7.40 | 0.48 | 11 | 125 |
| 12.69 | 0.71 | 9.14 | 0.66 | 9 | 88 |
| 10.27 | 0.75 | 12.29 | 0.69 | 8 | 86 |
| (23.27) | 0.81 | 6.43 | 0.67 | 8 | 84 |
| 0.87 <sup>(d)(h)</sup> | 0.81 <sup>(e)</sup> | 15.85 <sup>(e)</sup> | (0.09)<sup>(e)</sup> | 10 | 5 <sup>(d)</sup> |
| 16.37 <sup>(d)</sup> | 0.64 <sup>(e)</sup> | 6.68 <sup>(e)</sup> | 0.05 <sup>(e)</sup> | 1513 | 44 <sup>(d)</sup> |
| 12.95 | 0.67 | 7.31 | 0.58 | 1234 | 125 |
| 12.77 | 0.62 | 9.11 | 0.75 | 787 | 88 |
| 10.38 | 0.61 | 12.08 | 0.86 | 792 | 86 |
| (23.13) | 0.73 | 6.28 | 0.76 | 584 | 84 |
| 0.87 <sup>(d)(h)</sup> | 0.73 <sup>(e)</sup> | 15.78 <sup>(e)</sup> | (0.06)<sup>(e)</sup> | 756 | 5 <sup>(d)</sup> |

---

*See Notes to Financial Statements.* 107

**Financial Highlights (unaudited)**

INVESTMENT GRADE FLOATING RATE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** |
|  |<br>**Net<br> asset<br> value,<br> beginning <br> of period** | **Net<br> invest–<br> ment<br> income<br> (loss)<sup>(a)</sup>** | **Net<br> realized<br> and<br> unrealized <br> gain/(loss)** | **Total<br> from<br> invest–<br> ment<br> opera–<br> tions** | **Net<br> investment<br> income** | **Net<br> realized<br> gain** | **Total<br> distri–<br> butions** |
| **Class A** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $10.24 | $0.30 | $0.01 | $0.31 | $(0.30) | $– | $(0.30) |
| 7/31/2025 | 10.23 | 0.60 | 0.04 <sup>(f)</sup> | 0.64 | (0.62) | (0.01) | (0.63) |
| 7/31/2024 | 10.10 | 0.68 | 0.18 | 0.86 | (0.66) | (0.07) | (0.73) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.09 | 0.24 | (0.14) |  | (0.14) |
| **Class C** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.26 | 0.01 | 0.27 | (0.26) |  | (0.26) |
| 7/31/2025 | 10.23 | 0.53 | 0.04 <sup>(f)</sup> | 0.57 | (0.55) | (0.01) | (0.56) |
| 7/31/2024 | 10.10 | 0.60 | 0.18 | 0.78 | (0.58) | (0.07) | (0.65) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.13 | 0.09 | 0.22 | (0.12) |  | (0.12) |
| **Class F** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.31 | 0.01 | 0.32 | (0.31) |  | (0.31) |
| 7/31/2025 | 10.23 | 0.62 | 0.04 <sup>(f)</sup> | 0.66 | (0.64) | (0.01) | (0.65) |
| 7/31/2024 | 10.10 | 0.70 | 0.18 | 0.88 | (0.68) | (0.07) | (0.75) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.10 | 0.25 | (0.15) |  | (0.15) |
| **Class F3** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.31 | 0.01 | 0.32 | (0.31) |  | (0.31) |
| 7/31/2025 | 10.23 | 0.62 | 0.05 <sup>(f)</sup> | 0.67 | (0.65) | (0.01) | (0.66) |
| 7/31/2024 | 10.10 | 0.71 | 0.18 | 0.89 | (0.69) | (0.07) | (0.76) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.10 | 0.25 | (0.15) |  | (0.15) |
| **Class I** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.31 | 0.01 | 0.32 | (0.31) |  | (0.31) |
| 7/31/2025 | 10.23 | 0.62 | 0.04 <sup>(f)</sup> | 0.66 | (0.64) | (0.01) | (0.65) |
| 7/31/2024 | 10.10 | 0.70 | 0.18 | 0.88 | (0.68) | (0.07) | (0.75) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.10 | 0.25 | (0.15) |  | (0.15) |
| **Class R5** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.31 | 0.01 | 0.32 | (0.31) |  | (0.31) |
| 7/31/2025 | 10.23 | 0.65 | 0.01 <sup>(f)</sup> | 0.66 | (0.64) | (0.01) | (0.65) |
| 7/31/2024 | 10.10 | 0.70 | 0.18 | 0.88 | (0.68) | (0.07) | (0.75) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.10 | 0.25 | (0.15) |  | (0.15) |
| **Class R6** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 10.24 | 0.31 | 0.01 | 0.32 | (0.31) |  | (0.31) |
| 7/31/2025 | 10.23 | 0.67 | (0.01) | 0.66 | (0.64) | (0.01) | (0.65) |
| 7/31/2024 | 10.10 | 0.71 | 0.18 | 0.89 | (0.69) | (0.07) | (0.76) |
| 5/1/2023 to 7/31/2023<sup>(g)</sup> | 10.00 | 0.15 | 0.10 | 0.25 | (0.15) |  | (0.15) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Unaudited.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Annualized.

<sup>(f)</sup> Realized and unrealized gain/(loss) per share does not correlate to the aggregate of the net realized and unrealized gain/(loss) in the Statement of Operations, primarily due to the timing of the sales and repurchases of the Fund's shares in relation to fluctuating market values of the Fund's portfolio.

<sup>(g)</sup> Commenced on May 1, 2023.

108 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br> asset<br> value,<br> end of<br> period** |<br>**Total<br> return<br> (%)**<sup>(b)</sup> | **Total<br> expenses<br> after<br> waivers<br> and/or<br> reimburse–<br> ments<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> invest–<br> ment<br> income<br> (loss)<br> (%)** | **Net<br> assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| $10.25 | 3.06 <sup>(d)</sup> | 0.57 <sup>(e)</sup> | 0.59 <sup>(e)</sup> | 5.72 <sup>(e)</sup> | $380613 | 42 <sup>(d)</sup> |
| 10.24 | 6.41 | 0.55 | 0.62 | 5.88 | 221468 | 119 |
| 10.23 | 8.84 | 0.55 | 1.50 | 6.72 | 4933 | 171 |
| 10.10 | 2.44 <sup>(d)</sup> | 0.55 <sup>(e)</sup> | 1.95 <sup>(e)</sup> | 5.88 <sup>(e)</sup> | 1970 | 39 <sup>(d)</sup> |
| 10.25 | 2.65 <sup>(d)</sup> | 1.35 <sup>(e)</sup> | 1.37 <sup>(e)</sup> | 4.94 <sup>(e)</sup> | 66771 | 42 <sup>(d)</sup> |
| 10.24 | 5.67 | 1.28 | 1.37 | 5.14 | 41983 | 119 |
| 10.23 | 7.98 | 1.35 | 2.23 | 5.88 | 579 | 171 |
| 10.10 | 2.23 <sup>(d)</sup> | 1.35 <sup>(e)</sup> | 2.75 <sup>(e)</sup> | 4.96 <sup>(e)</sup> | 506 | 39 <sup>(d)</sup> |
| 10.25 | 3.14 <sup>(d)</sup> | 0.41 <sup>(e)</sup> | 0.49 <sup>(e)</sup> | 5.90 <sup>(e)</sup> | 49311 | 42 <sup>(d)</sup> |
| 10.24 | 6.61 | 0.35 | 0.51 | 6.05 | 74847 | 119 |
| 10.23 | 9.06 | 0.35 | 1.54 | 6.92 | 503 | 171 |
| 10.10 | 2.49 <sup>(d)</sup> | 0.35 <sup>(e)</sup> | 1.85 <sup>(e)</sup> | 5.95 <sup>(e)</sup> | 25 | 39 <sup>(d)</sup> |
| 10.25 | 3.20 <sup>(d)</sup> | 0.30 <sup>(e)</sup> | 0.30 <sup>(e)</sup> | 5.98 <sup>(e)</sup> | 139850 | 42 <sup>(d)</sup> |
| 10.24 | 6.65 | 0.33 | 0.36 | 6.10 | 66473 | 119 |
| 10.23 | 9.13 | 0.28 | 1.19 | 6.95 | 26 | 171 |
| 10.10 | 2.50 <sup>(d)</sup> | 0.28 <sup>(e)</sup> | 1.69 <sup>(e)</sup> | 6.00 <sup>(e)</sup> | 25 | 39 <sup>(d)</sup> |
| 10.25 | 3.16 <sup>(d)</sup> | 0.37 <sup>(e)</sup> | 0.39 <sup>(e)</sup> | 5.92 <sup>(e)</sup> | 3130197 | 42 <sup>(d)</sup> |
| 10.24 | 6.61 | 0.35 | 0.43 | 6.07 | 2292016 | 119 |
| 10.23 | 9.06 | 0.35 | 1.37 | 6.91 | 33403 | 171 |
| 10.10 | 2.49 <sup>(d)</sup> | 0.35 <sup>(e)</sup> | 1.76 <sup>(e)</sup> | 5.94 <sup>(e)</sup> | 7071 | 39 <sup>(d)</sup> |
| 10.25 | 3.16 <sup>(d)</sup> | 0.37 <sup>(e)</sup> | 0.37 <sup>(e)</sup> | 5.96 <sup>(e)</sup> | 11 | 42 <sup>(d)</sup> |
| 10.24 | 6.60 | 0.35 | 0.43 | 6.33 | 11 | 119 |
| 10.23 | 9.06 | 0.35 | 1.22 | 6.87 | 26 | 171 |
| 10.10 | 2.49 <sup>(d)</sup> | 0.35 <sup>(e)</sup> | 1.76 <sup>(e)</sup> | 5.93 <sup>(e)</sup> | 25 | 39 <sup>(d)</sup> |
| 10.25 | 3.21 <sup>(d)</sup> | 0.26 <sup>(e)</sup> | 0.26 <sup>(e)</sup> | 6.07 <sup>(e)</sup> | 12 | 42 <sup>(d)</sup> |
| 10.24 | 6.64 | 0.29 | 0.46 | 6.56 | 12 | 119 |
| 10.23 | 9.13 | 0.28 | 1.20 | 6.94 | 1458 | 171 |
| 10.10 | 2.50 <sup>(d)</sup> | 0.28 <sup>(e)</sup> | 1.68 <sup>(e)</sup> | 6.01 <sup>(e)</sup> | 1440 | 39 <sup>(d)</sup> |

---

*See Notes to Financial Statements.* 109

**Financial Highlights (unaudited)**

SHORT DURATION HIGH YIELD FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** |
|  |<br>**Net<br> asset<br> value,<br> beginning <br> of period** | **Net<br> invest–<br> ment<br> income<br> (loss)**<sup>(a)</sup> | **Net<br> realized<br> and<br> unrealized<br> gain/<br> (loss)** | **Total<br> from<br> invest–<br> ment<br> opera–<br> tions** | **Net<br> investment <br> income** | **Net<br> realized<br> gain** | **Total<br> distri–<br> butions** |
| **Class A** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $9.79 | $0.36 | $0.06 | $0.42 | $(0.39) | $– | $(0.39) |
| 7/31/2025 | 9.90 | 0.75 | (0.02) | 0.73 | (0.79) | (0.05) | (0.84) |
| 7/31/2024 | 9.64 | 0.78 | 0.28 | 1.06 | (0.80) |  | (0.80) |
| 7/31/2023 | 9.83 | 0.70 | (0.19) | 0.51 | (0.70) |  | (0.70) |
| 7/31/2022 | 11.00 | 0.49 | (0.92) | (0.43) | (0.59) | (0.15) | (0.74) |
| 7/31/2021 | 10.61 | 0.48 | 0.57 | 1.05 | (0.59) | (0.07) | (0.66) |
| **Class C** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.79 | 0.32 | 0.06 | 0.38 | (0.35) |  | (0.35) |
| 7/31/2025 | 9.90 | 0.67 | (0.02) | 0.65 | (0.71) | (0.05) | (0.76) |
| 7/31/2024 | 9.64 | 0.71 | 0.28 | 0.99 | (0.73) |  | (0.73) |
| 7/31/2023 | 9.83 | 0.65 | (0.20) | 0.45 | (0.64) |  | (0.64) |
| 7/31/2022 | 11.00 | 0.42 | (0.92) | (0.50) | (0.52) | (0.15) | (0.67) |
| 7/31/2021 | 10.61 | 0.42 | 0.55 | 0.97 | (0.51) | (0.07) | (0.58) |
| **Class F** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.78 | 0.37 | 0.06 | 0.43 | (0.39) |  | (0.39) |
| 7/31/2025 | 9.89 | 0.77 | (0.02) | 0.75 | (0.81) | (0.05) | (0.86) |
| 7/31/2024 | 9.63 | 0.80 | 0.27 | 1.07 | (0.81) |  | (0.81) |
| 7/31/2023 | 9.83 | 0.70 | (0.18) | 0.52 | (0.72) |  | (0.72) |
| 7/31/2022 | 11.00 | 0.52 | (0.92) | (0.40) | (0.62) | (0.15) | (0.77) |
| 7/31/2021 | 10.61 | 0.52 | 0.55 | 1.07 | (0.61) | (0.07) | (0.68) |
| **Class F3** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.79 | 0.37 | 0.07 | 0.44 | (0.40) |  | (0.40) |
| 7/31/2025 | 9.90 | 0.77 | (0.01) | 0.76 | (0.82) | (0.05) | (0.87) |
| 7/31/2024 | 9.64 | 0.81 | 0.27 | 1.08 | (0.82) |  | (0.82) |
| 7/31/2023 | 9.83 | 0.68 | (0.15) | 0.53 | (0.72) |  | (0.72) |
| 7/31/2022 | 11.00 | 0.52 | (0.92) | (0.40) | (0.62) | (0.15) | (0.77) |
| 7/31/2021 | 10.61 | 0.54 | 0.54 | 1.08 | (0.62) | (0.07) | (0.69) |
| **Class I** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.77 | 0.37 | 0.06 | 0.43 | (0.40) |  | (0.40) |
| 7/31/2025 | 9.88 | 0.77 | (0.02) | 0.75 | (0.81) | (0.05) | (0.86) |
| 7/31/2024 | 9.62 | 0.80 | 0.27 | 1.07 | (0.81) |  | (0.81) |
| 7/31/2023 | 9.82 | 0.74 | (0.22) | 0.52 | (0.72) |  | (0.72) |
| 7/31/2022 | 11.00 | 0.52 | (0.93) | (0.41) | (0.62) | (0.15) | (0.77) |
| 7/31/2021 | 10.61 | 0.54 | 0.53 | 1.07 | (0.61) | (0.07) | (0.68) |
| **Class R3** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.79 | 0.34 | 0.06 | 0.40 | (0.37) |  | (0.37) |
| 7/31/2025 | 9.90 | 0.72 | (0.02) | 0.70 | (0.76) | (0.05) | (0.81) |
| 7/31/2024 | 9.64 | 0.76 | 0.27 | 1.03 | (0.77) |  | (0.77) |
| 7/31/2023 | 9.83 | 0.67 | (0.19) | 0.48 | (0.67) |  | (0.67) |
| 7/31/2022 | 11.00 | 0.46 | (0.92) | (0.46) | (0.56) | (0.15) | (0.71) |
| 7/31/2021 | 10.62 | 0.48 | 0.53 | 1.01 | (0.56) | (0.07) | (0.63) |

---

110 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br> asset<br> value,<br> end of<br> period** |<br>**Total**<br> **return**<br> **(%)**<sup>(b)</sup> | **Total<br> expenses<br> after<br> waivers<br> and/or<br> reimburse–<br> ments<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> invest–<br> ment<br> income<br> (loss)<br> (%)** | **Net<br> assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| $9.82 | 4.31 <sup>(d)</sup> | 0.65 <sup>(e)</sup> | 0.65 <sup>(e)</sup> | 7.20 <sup>(e)</sup> | $1074880 | 46 <sup>(d)</sup> |
| 9.79 | 7.62 | 0.65 | 0.69 | 7.61 | 886415 | 140 |
| 9.90 | 11.41 | 0.65 | 0.71 | 8.00 | 480252 | 160 |
| 9.64 | 5.50 | 0.65 | 0.86 | 7.31 | 92165 | 65 |
| 9.83 | (4.04) | 0.71 | 1.70 | 4.69 | 11090 | 123 |
| 11.00 | 10.22 | 0.71 | 2.00 | 4.43 | 9849 | 69 |
| 9.82 | 3.93 <sup>(d)</sup> | 1.38 <sup>(e)</sup> | 1.38 <sup>(e)</sup> | 6.47 <sup>(e)</sup> | 371823 | 46 <sup>(d)</sup> |
| 9.79 | 6.83 | 1.39 | 1.44 | 6.87 | 310004 | 140 |
| 9.90 | 10.62 | 1.36 | 1.43 | 7.28 | 143009 | 160 |
| 9.64 | 4.81 | 1.30 | 1.48 | 6.74 | 25681 | 65 |
| 9.83 | (4.71) | 1.42 | 2.41 | 4.00 | 1399 | 123 |
| 11.00 | 9.34 | 1.51 | 2.91 | 3.81 | 1324 | 69 |
| 9.82 | 4.50 <sup>(d)</sup> | 0.48 <sup>(e)</sup> | 0.55 <sup>(e)</sup> | 7.37 <sup>(e)</sup> | 74644 | 46 <sup>(d)</sup> |
| 9.78 | 7.83 | 0.45 | 0.59 | 7.82 | 102054 | 140 |
| 9.89 | 11.63 | 0.45 | 0.60 | 8.19 | 84124 | 160 |
| 9.63 | 5.60 | 0.46 | 0.73 | 7.28 | 28477 | 65 |
| 9.83 | (3.85) | 0.51 | 1.61 | 5.12 | 16197 | 123 |
| 11.00 | 10.43 | 0.51 | 2.03 | 4.80 | 6071 | 69 |
| 9.83 | 4.56 <sup>(d)</sup> | 0.37 <sup>(e)</sup> | 0.38 <sup>(e)</sup> | 7.48 <sup>(e)</sup> | 509785 | 46 <sup>(d)</sup> |
| 9.79 | 7.92 | 0.37 | 0.40 | 7.90 | 439456 | 140 |
| 9.90 | 11.70 | 0.36 | 0.42 | 8.29 | 235131 | 160 |
| 9.64 | 5.75 | 0.44 | 0.70 | 7.13 | 9 | 65 |
| 9.83 | (3.79) | 0.47 | 1.48 | 4.92 | 9 | 123 |
| 11.00 | 10.50 | 0.44 | 1.97 | 5.01 | 11 | 69 |
| 9.80 | 4.41 <sup>(d)</sup> | 0.45 <sup>(e)</sup> | 0.45 <sup>(e)</sup> | 7.40 <sup>(e)</sup> | 7648454 | 46 <sup>(d)</sup> |
| 9.77 | 7.83 | 0.45 | 0.49 | 7.82 | 6853400 | 140 |
| 9.88 | 11.63 | 0.45 | 0.51 | 8.19 | 4250474 | 160 |
| 9.62 | 5.60 | 0.45 | 0.61 | 7.68 | 1054582 | 65 |
| 9.82 | (3.94) | 0.51 | 1.54 | 5.14 | 2061 | 123 |
| 11.00 | 10.44 | 0.51 | 2.02 | 4.94 | 550 | 69 |
| 9.82 | 4.15 <sup>(d)</sup> | 0.95 <sup>(e)</sup> | 0.95 <sup>(e)</sup> | 6.90 <sup>(e)</sup> | 911 | 46 <sup>(d)</sup> |
| 9.79 | 7.31 | 0.95 | 0.99 | 7.31 | 921 | 140 |
| 9.90 | 11.08 | 0.95 | 1.01 | 7.73 | 207 | 160 |
| 9.64 | 5.19 | 0.95 | 1.23 | 6.99 | 63 | 65 |
| 9.83 | (4.31) | 1.01 | 2.02 | 4.38 | 10 | 123 |
| 11.00 | 9.88 | 1.01 | 2.52 | 4.43 | 11 | 69 |

---

*See Notes to Financial Statements.* 111

**Financial Highlights (unaudited)(concluded)**

SHORT DURATION HIGH YIELD FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** | **Distributions to<br> shareholders from:** |
|  |<br>**Net<br> asset<br> value,<br> beginning<br> of period** | **Net**<br> **invest–**<br> **ment**<br> **income**<br> **(loss)**<sup>(a)</sup> | **Net<br> realized<br> and<br> unrealized<br> gain/<br> (loss)** | **Total<br> from<br> invest–<br> ment<br> opera–<br> tions** | **Net<br> investment <br> income** | **Net<br> realized<br> gain** | **Total<br> distri–<br> butions** |
| **Class R4** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | $9.79 | $0.35 | $0.06 | $0.41 | $(0.38) | $– | $(0.38) |
| 7/31/2025 | 9.90 | 0.75 | (0.03) | 0.72 | (0.78) | (0.05) | (0.83) |
| 7/31/2024 | 9.64 | 0.78 | 0.27 | 1.05 | (0.79) |  | (0.79) |
| 7/31/2023 | 9.83 | 0.66 | (0.15) | 0.51 | (0.70) |  | (0.70) |
| 7/31/2022 | 11.00 | 0.48 | (0.91) | (0.43) | (0.59) | (0.15) | (0.74) |
| 7/31/2021 | 10.62 | 0.51 | 0.53 | 1.04 | (0.59) | (0.07) | (0.66) |
| **Class R5** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.79 | 0.37 | 0.06 | 0.43 | (0.40) |  | (0.40) |
| 7/31/2025 | 9.90 | 0.76 | (0.01) | 0.75 | (0.81) | (0.05) | (0.86) |
| 7/31/2024 | 9.64 | 0.80 | 0.27 | 1.07 | (0.81) |  | (0.81) |
| 7/31/2023 | 9.83 | 0.69 | (0.16) | 0.53 | (0.72) |  | (0.72) |
| 7/31/2022 | 11.00 | 0.51 | (0.91) | (0.40) | (0.62) | (0.15) | (0.77) |
| 7/31/2021 | 10.61 | 0.54 | 0.53 | 1.07 | (0.61) | (0.07) | (0.68) |
| **Class R6** |  |  |  |  |  |  |  |
| 1/31/2026<sup>(c)</sup> | 9.79 | 0.37 | 0.06 | 0.43 | (0.40) |  | (0.40) |
| 7/31/2025 | 9.90 | 0.77 | (0.02) | 0.75 | (0.81) | (0.05) | (0.86) |
| 7/31/2024 | 9.64 | 0.81 | 0.27 | 1.08 | (0.82) |  | (0.82) |
| 7/31/2023 | 9.83 | 0.72 | (0.19) | 0.53 | (0.72) |  | (0.72) |
| 7/31/2022 | 11.00 | 0.51 | (0.91) | (0.40) | (0.62) | (0.15) | (0.77) |
| 7/31/2021 | 10.61 | 0.52 | 0.56 | 1.08 | (0.62) | (0.07) | (0.69) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Unaudited.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Annualized.

112 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br> asset<br> value,<br> end of<br> period** |<br>**Total**<br> **return**<br> **(%)**<sup>(b)</sup> | **Total<br> expenses<br> after<br> waivers<br> and/or<br> reimburse–<br> ments<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> invest–<br> ment<br> income<br> (loss)<br> (%)** | **Net<br> assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| $9.82 | 4.28 <sup>(d)</sup> | 0.70 <sup>(e)</sup> | 0.70 <sup>(e)</sup> | 7.16 <sup>(e)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp; 46 | 46 <sup>(d)</sup> |
| 9.79 | 7.56 | 0.70 | 0.74 | 7.58 | 94 | 140 |
| 9.90 | 11.35 | 0.70 | 0.76 | 7.98 | 128 | 160 |
| 9.64 | 5.46 | 0.73 | 1.01 | 6.89 | 9 | 65 |
| 9.83 | (4.08) | 0.76 | 1.75 | 4.61 | 9 | 123 |
| 11.00 | 10.15 | 0.76 | 2.26 | 4.69 | 11 | 69 |
| 9.82 | 4.41 <sup>(d)</sup> | 0.45 <sup>(e)</sup> | 0.45 <sup>(e)</sup> | 7.40 <sup>(e)</sup> | 3923 | 46 <sup>(d)</sup> |
| 9.79 | 7.84 | 0.44 | 0.51 | 7.75 | 3344 | 140 |
| 9.90 | 11.63 | 0.45 | 0.51 | 8.19 | 234 | 160 |
| 9.64 | 5.72 | 0.47 | 0.75 | 7.14 | 9 | 65 |
| 9.83 | (3.83) | 0.51 | 1.49 | 4.86 | 9 | 123 |
| 11.00 | 10.43 | 0.51 | 2.01 | 4.94 | 11 | 69 |
| 9.82 | 4.45 <sup>(d)</sup> | 0.37 <sup>(e)</sup> | 0.38 <sup>(e)</sup> | 7.48 <sup>(e)</sup> | 13463 | 46 <sup>(d)</sup> |
| 9.79 | 7.92 | 0.37 | 0.40 | 7.89 | 12126 | 140 |
| 9.90 | 11.71 | 0.36 | 0.42 | 8.25 | 5888 | 160 |
| 9.64 | 5.74 | 0.43 | 0.58 | 7.47 | 796 | 65 |
| 9.83 | (3.80) | 0.47 | 1.48 | 4.90 | 169 | 123 |
| 11.00 | 10.50 | 0.44 | 1.85 | 4.81 | 192 | 69 |

---

*See Notes to Financial Statements.* 113

**Notes to Financial Statements**

&nbsp;&nbsp;&nbsp;&nbsp;**1.** ORGANIZATION

Lord Abbett Trust I (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company and was organized as a Delaware statutory trust on May 1, 2001.

The Trust currently consists of eight funds as of January 31, 2026. This report covers the following four funds (each, a "Fund" and collectively, the "Funds") and their respective active share classes:

---

| | |
|:---|:---|
| Funds | Classes |
| Lord Abbett Emerging Markets Equity Fund<br> ("Emerging Markets Equity Fund") | A, C, F, F3, I and R6 |
| Lord Abbett International Growth Fund<br> ("International Growth Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |
| Lord Abbett Investment Grade Floating Rate Fund<br> ("Investment Grade Floating Rate Fund") | A, C, F, F3, I, R5 and R6 |
| Lord Abbett Short Duration High Yield Fund<br> ("Short Duration High Yield Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |

---

Each Fund is diversified within the meaning of the 1940 Act.

Emerging Markets Equity Fund's and International Growth Fund's investment objective is to seek long-term capital appreciation. Investment Grade Floating Rate Fund's investment objective is to seek a high level of current income. Short Duration High Yield Fund's investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value ("NAV") for Class A shares. There is no front-end sales charge in the case of Class C, F, F3, I, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge ("CDSC") in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund's prospectus); and Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Fund or financial intermediary through which a shareholder purchased Class C shares has records verifying that the Class C shares have been held at least eight years.

**Basis of Preparation**

The Funds are investment companies and apply the accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification *Topic 946 Financial Services – Investment Companies*. The preparation of the financial statements in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP") requires management to make certain estimates and assumptions that affect 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 increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Segment Reporting**

An operating segment is defined in FASB Accounting Standards Update ("ASU") 2023-07, *Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures* ("ASU 2023-07") as a component of a public entity that engages in business activities from which it may recognize

**Notes to Financial Statements (continued)**

revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The CODM for the Funds is Lord, Abbett & Co. LLC ("Lord Abbett") through its Management, Investment and Operating Committees, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that each Fund has a single operating segment based on the fact that the CODM monitors the operating results of each Fund as a whole and that the Funds' long-term strategic asset allocation is pre-determined in accordance with the terms of their prospectus, based on a defined investment strategy which is executed by the Funds' portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Funds' Schedules of Investments, Statements of Assets and Liabilities, Statements of Operations, Statements of Changes in Net Assets and Financial Highlights.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** SIGNIFICANT ACCOUNTING POLICIES

---

| | |
|:---|:---|
| (a) | Investment Valuation–Under procedures approved by the Funds' Board of Trustees (the "Board"), the Board has designated the determination of fair value of the Funds' portfolio investments to Lord Abbett, as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a pricing committee (the "Pricing Committee") that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value. |
|  | Securities actively traded on any recognized U.S. or non-U.S. exchange or on the NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services' own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps are valued daily using independent pricing services or quotations from broker/dealers to the extent available. |

---

**Notes to Financial Statements (continued)**

---

| |
|:---|
| Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee. |
| Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day. |
| Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments;

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and

• Level 3 – significant unobservable inputs (including each Fund's own assumptions in determining the fair value of investments).

---

| |
|:---|
| A summary of inputs used in valuing each Fund's investments and other financial instruments as of January 31, 2026 and, if applicable, Level 3 rollforwards for the period then ended is included in each Fund's Schedule of Investments. |
| Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(b) Expenses– Expenses,
 excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets
 at the beginning of the day. In addition, Class F3 and R6 shares bear only their class-specific share of shareholder servicing
 expenses. Class A, C, F, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds'
 12b-1 Distribution Plan.

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
| (c) | Floating Rate Loans–Each Fund may invest in floating rate loans, which usually take the form of loan participations and assignments. Loan participations and assignments are agreements to make money available to U.S. or foreign corporations, partnerships or other business entities (the "Borrower") in a specified amount, at a specified rate and within a specified time. A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the "Agent") for a group of loan investors ("Loan Investors"). The Agent typically administers and enforces the loan on behalf of the other Loan Investors in the syndicate and may hold any collateral on behalf of the Loan Investors. Such loan participations and assignments are typically senior, secured and collateralized in nature. Each Fund records an investment when the Borrower withdraws money and records interest as earned. These loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. These base lending rates are generally the prime rate offered by a designated U.S. bank or Secured Overnight Financing Rate. |
|  | The loans in which each Fund invests may be subject to some restrictions on resale. For example, each Fund may be contractually obligated to receive approval from the Agent and/or Borrower prior to the sale of these investments. Each Fund generally has no right to enforce compliance with the terms of the loan agreement with the Borrower. As a result, each Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower ("Intermediate Participants"). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, each Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest. |
|  | Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. Until demanded by the Borrower, unfunded commitments are not recognized as an asset on the Statements of Assets and Liabilities. Unrealized appreciation/(depreciation) on unfunded commitments is presented, if any, on the Statements of Assets and Liabilities and represents the mark to market of the unfunded portion of each Fund's floating rate notes. |
|  | As of January 31, 2026, the Funds had the following unfunded loan commitments: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | Investment Grade Floating Rate Fund | Investment Grade Floating Rate Fund | Investment Grade Floating Rate Fund |
| **Borrower** | **Principal<br> Amount** | **Market<br> Value** | **Cost** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| GC Ferry Acquisition I Inc Delayed Draw Term Loan | $1152083 | $1144704 | $1138445 | $6259 |
| Total | $1152083 | $1144704 | $1138445 | $6259 |
|  |  | Short Duration High Yield Fund | Short Duration High Yield Fund | Short Duration High Yield Fund |
| **Borrower** | **Principal<br> Amount** | **Market<br> Value** | **Cost** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| BSFR II UTE I LLC Revolver | $6802442 | $6811965 | $6790789 | $21176 |
| CRM Series Seller 2025 LLC Revolver | 1232431 | 1232554 | 1231392 | 1162 |
| Total | $8034873 | $8044519 | $8022181 | $22338 |

---

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
| (d) | Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund's records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain/(loss), if applicable, is included in Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies in each Fund's Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain/(loss) on foreign currency related transactions in each Fund's Statement of Operations. The Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities. |
|  | Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms. |
| (e) | Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required. |
|  | Management has reviewed each Fund's tax positions for all open tax years and has determined that as of January 31, 2026, no liability for Federal Income tax is required in each Fund's financial statements for net unrecognized tax benefits. However, management's conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. Each Fund's Federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. The statutes of limitations on each Fund's state and local tax returns may remain open for an additional year depending upon each Fund's jurisdiction. |
| (f) | Investment Income–Dividend income, if any, is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statements of Operations. Withholding taxes on foreign interest and dividends, if applicable, have been provided for in accordance with the applicable country's tax rules and rates. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. |
| (g) | Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, each Fund may incur a loss upon disposition of the securities. |

---

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
|  | Due to the absence of a master netting agreement related to the Funds' participation in repurchase agreements, no offsetting disclosures have been made on behalf of the Funds. |
| (h) | Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains/(losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. |
| (i) | When-Issued, Forward Transactions or To-Be-Announced ("TBA") Transactions–Each Fund may purchase portfolio securities on a when-issued or forward basis. When-issued, forward transactions or TBA transactions involve a commitment by a Fund to purchase securities, with payment and delivery ("settlement") to take place in the future, in order to secure what is considered to be an advantageous price or yield at the time of entering into the transaction. During the period between purchase and settlement, the fair value of the securities will fluctuate and assets consisting of cash and/or marketable securities (normally short-term U.S. Government or U.S. Government sponsored enterprise securities) marked to market daily in an amount sufficient to make payment at settlement will be segregated at each Fund's custodian in order to pay for the commitment. At the time each Fund makes the commitment to purchase a security on a when-issued basis, it will record the transaction and reflect the liability for the purchase and fair value of the security in determining its NAV. Each Fund, generally, has the ability to close out a purchase obligation on or before the settlement date rather than take delivery of the security. Under no circumstances will settlement for such securities take place more than 120 days after the purchase date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;**3.** DERIVATIVE TRANSACTIONS

Derivatives–During the six months, the Funds used derivative instruments including forward foreign currency exchange contracts, futures contracts, swap contracts and options in connection with their investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.

The Funds may be subject to various risks from the use of derivatives, including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties' failure to perform under contract terms; liquidity risk related to the potential lack of a liquid market for these contracts allowing the Funds to close out their position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds' risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

The Funds are party to various derivative contracts governed by International Swaps and Derivatives Association master agreements ("ISDA agreements"). The Funds' ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Funds in the event the Funds' net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Funds to exercise rights, to the

**Notes to Financial Statements (continued)**

extent not otherwise waived, against a counterparty (e.g., decline in a counterparty's credit rating below a specified level). Such rights for both a counterparty and the Funds often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Funds. The ISDA agreements give the Funds and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.

Counterparty credit risk may be mitigated to the extent a counterparty posts additional collateral for mark-to-market gains to each Fund.

Forward Foreign Currency Exchange Contracts–During the six months ended, the Funds listed in the tables below are exposed to foreign currency risks associated with some or all of their portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of the foreign currency.

The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation or depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Funds record a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Funds also record a realized gain or loss, upon settlement, when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty.

The Funds' forward foreign currency exchange contracts are subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions).

The Funds may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.

Futures Contracts–During the six months, the Funds listed in the tables below entered into futures contracts to manage and hedge interest rate risk associated with portfolio investments. During the six months ended, the Funds also purchased futures contracts to invest incoming cash in the market or sold futures in response to cash outflows, thereby simulating an invested position in the underlying index while maintaining a cash balance for liquidity. Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Funds are required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Net change in unrealized appreciation/(depreciation) on

**Notes to Financial Statements (continued)**

futures contracts on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the Schedules of Investments, while cash deposited, which is considered restricted, is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.

The use of futures contracts exposes the Funds to equity price, foreign exchange and interest rate risks. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds' credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day's settlement price, which could effectively prevent liquidation of positions.

The Funds' futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

Swap Contracts–The Funds may engage in swap transactions to manage credit and interest rate (e.g., duration, yield curve) risks within their respective portfolios. Swap transactions are contracts negotiated over-the-counter ("OTC") between a fund and a counterparty or are centrally cleared ("centrally cleared swaps") through a central clearinghouse managed by a Futures Commission Merchant ("FCM") that exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals.

Upfront payments made and/or received by the Funds are recorded as assets or liabilities, respectively, on the Statements of Assets and Liabilities and are amortized over the term of the swap. The value of OTC swap contract agreements is recorded as either an asset or a liability on the Statements of Assets and Liabilities at the beginning of the measurement period. Upon entering into a centrally cleared swap, the Funds are required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the Schedules of Investments, while cash deposited, which is considered restricted, is reported as Deposits with brokers for swap contracts collateral on the Statements of Assets and Liabilities. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a variation margin receivable or payable on the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as Net change in unrealized appreciation/(depreciation) on swap contracts on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.

The central clearinghouse acts as the counterparty to each centrally cleared swap transaction; therefore credit risk is limited to the failure of the clearinghouse.

The Funds' OTC swap contract agreements are subject to master netting arrangements.

**Notes to Financial Statements (continued)**

Credit Default Swap Contracts–During the six months, the Funds listed in the tables below entered into credit default swaps to simulate long and/or short bond positions or to take an active long and/or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.

The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.

Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.

If a credit event occurs, the Funds, as protection sellers, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to the Fund's portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability under a contract and is not reflected on the Statements of Assets and Liabilities. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with identical reference obligations.

Interest Rate Swap Contracts–During the six months, the Funds listed in the tables below entered into interest rate swap contracts to manage fund exposure to interest rates or to either preserve or generate a return on a particular investment or portion of their portfolios. These are agreements between counterparties to exchange periodic interest payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate, while the other is typically based on a fixed interest rate.

Options–During the six months ended, the Funds listed in the tables below have purchased and written exchange-listed and over-the-counter put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility.

When a Fund writes (sells) an option, an amount equal to the premium received by each Fund is recorded as a liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, each Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of

**Notes to Financial Statements (continued)**

the security purchased by each Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. Each Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.

Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that each Fund pays a premium whether or not the option is exercised. Additionally, each Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract. Realized and net change in unrealized gains and losses on purchased options are included in Net realized and Net change in unrealized appreciation/(depreciation) on investments, respectively, in the Funds' Statements of Operations.

Summary of Derivatives Information**–**As of January 31, 2026, the Funds in the tables below had the following derivatives at fair value, grouped into appropriate risk categories and respective location on the Statements of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** |
| **Asset Derivatives** | **Statements of Assets<br> and Liabilities Location** | **Interest<br> Rate<br> Contracts** | **Foreign<br> Currency<br> Contracts** | **Credit<br> Contracts** |
| Centrally Cleared Credit Default Swap Contracts<sup>(1)</sup> | Payables, variation margin for centrally cleared swap contract agreements |  |  | $28015 |
| &nbsp;&nbsp;&nbsp;Centrally Cleared Interest Rate Swap Contracts<sup>(1)</sup> | Payables, variation margin for centrally cleared swap contract agreements | $642314 |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts<sup>(2)</sup> | Payables, variation margin for futures contracts | $287836 | – | – |
| **Liability Derivatives** | **Statements of Assets<br> and Liabilities Location** |  |  |  |
| Centrally Cleared Credit Default Swap Contracts<sup>(1)</sup> | Payables, variation margin for centrally cleared swap contract agreements |  |  | $13456533 |
| Forward Foreign Currency Exchange Contracts | Unrealized depreciation on forward foreign currency exchange contracts |  | $155682 |  |
| Futures Contracts<sup>(2)</sup> | Payables, variation margin for futures contracts | $202283 | – | – |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | Short Duration High Yield Fund | Short Duration High Yield Fund | Short Duration High Yield Fund |
| **Asset Derivatives** | **Statements of Assets<br> and Liabilities Location** | **Interest<br> Rate<br> Contracts** | **Foreign<br> Currency<br> Contracts** | **Credit<br> Contracts** |
| Forward Foreign Currency Exchange Contracts | Unrealized appreciation on forward foreign currency exchange contracts | – | $3509192 | – |
| **Liability Derivatives** | **Statements of Assets<br> and Liabilities Location** |  |  |  |
| Centrally Cleared Credit Default Swap Contracts<sup>(1)</sup> | Payables, variation margin for centrally cleared swap contract agreements |  |  | $165405 |
| Centrally Cleared Interest Rate Swap Contracts<sup>(1)</sup> | Payables, variation margin for centrally cleared swap contract agreements | $3218807 |  |  |
| Forward Foreign Currency Exchange Contracts | Unrealized depreciation on forward foreign currency exchange contracts |  | $11923658 |  |
| Futures Contracts<sup>(2)</sup> | Receivables, variation margin for futures contracts | $274082 | – | – |

---

<sup>(1)</sup> Includes the value of centrally cleared swap contracts as reported in the Schedules of Investments. Only current day's variation margin is reported within the Statements of Assets and Liabilities.

<sup>(2)</sup> Includes cumulative unrealized appreciation/(depreciation) of futures contracts as reported in the Schedules of Investments. Only current day's variation margin is reported within the Statements of Assets and Liabilities.

The following tables present the effect of derivatives for each Fund on the Statements of Operations for the six months ended January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Emerging Markets Equity Fund** | **Emerging Markets Equity Fund** |
|  | **Statements of<br> Operations Location** | **Equity<br> Contracts** |
| **Amount of Realized Gain/(Loss) on Derivatives** |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts | Net realized gain/(loss)<br> on futures contracts | $4379 |
| **Derivatives volume calculated based on the number of contracts or notional amounts** |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  | 7 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** | **Investment Grade Floating Rate Fund** |
|  | **Statements of<br> Operations Location** | **Inflation<br> Linked/<br> Interest<br> Rate<br> Contracts** | **Foreign<br> Currency<br> Contracts** | **Credit<br> Contracts** |
| **Amount of Realized Gain/(Loss) on Derivatives** | **Amount of Realized Gain/(Loss) on Derivatives** |  |  |  |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts | Net realized gain/(loss) on swap contracts | $847585 |  |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | Net realized gain/(loss) on swap contracts |  |  | $(2818207) |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts | Net realized gain/(loss) on forward foreign currency exchange contracts |  | $238473 |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts | Net realized gain/(loss) on futures contracts | $1258191 |  |  |
| &nbsp;&nbsp;&nbsp;OTC Options Purchased | Net realized gain/(loss) on investments |  |  | $(3342450) |
| &nbsp;&nbsp;&nbsp;OTC Written Options | Net realized gain/(loss) on OTC written options |  |  | $800250 |
| **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** |  |  |  |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts | Net change in unrealized appreciation/(depreciation) on swap contracts | $693830 |  |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | Net change in unrealized appreciation/(depreciation) on swap contracts |  |  | $50161 |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts | Net change in unrealized appreciation/(depreciation) on forward foreign currency exchange contracts |  | $(351870) |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts | Net change in unrealized appreciation/(depreciation) on futures contracts | $158110 |  |  |
| &nbsp;&nbsp;&nbsp;OTC Options Purchased | Net change in unrealized appreciation/(depreciation) on investments |  |  | $255144 |
| **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** |  |  |  |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts |  | $269354857 |  |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts |  |  |  | $399034351 |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts |  |  | $14868188 |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  | 717 |  |  |
| &nbsp;&nbsp;&nbsp;OTC Options Purchased |  |  |  | $430714286 |
| &nbsp;&nbsp;&nbsp;OTC Written Options |  | – | – | $(141428571) |

---

**Notes to Financial Statements (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | | **Short Duration High Yield Fund** | **Short Duration High Yield Fund** | **Short Duration High Yield Fund** |
|  | **Statements of<br> Operations Location** | **Equity<br> Contracts** | **Inflation<br> Linked/<br> Interest<br> Rate<br> Contracts** | **Foreign<br> Currency<br> Contracts** | **Credit<br> Contracts** |
| **Amount of Realized Gain/(Loss) on Derivatives** | **Amount of Realized Gain/(Loss) on Derivatives** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts | Net realized gain/(loss) on swap contracts |  | $48613 | $– |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | Net realized gain/(loss) on swap contracts |  |  |  | $16501553 |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts | Net realized gain/(loss) on forward foreign currency exchange contracts |  |  | $5060859 |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts | Net realized gain/(loss) on futures contracts | $427810 | $5996695 |  |  |
| **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** | **Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives** |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts | Net change in unrealized appreciation/(depreciation) on swap contracts |  | $(934550) |  |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | Net change in unrealized appreciation/(depreciation) on swap contracts |  |  |  | $(38512) |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts | Net change in unrealized appreciation/(depreciation) on forward foreign currency exchange contracts |  |  | $(15378656) |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts | Net change in unrealized appreciation/(depreciation) on futures contracts |  | $3551039 |  |  |
| **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** | **Derivatives volume calculated based on the number of contracts or notional amounts** |
| &nbsp;&nbsp;&nbsp;CPI/Interest Rate Swap Contracts |  |  | $195714286 |  |  |
| &nbsp;&nbsp;&nbsp;Credit Default Swap Contracts |  |  |  |  | $320267000 |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts |  |  |  | $670415009 |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  | 238 | 7494 | – | – |

---

**Notes to Financial Statements (continued)**

Disclosures About Offsetting Assets and Liabilities**–**FASB requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund's financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities, and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by the counterparty. A master netting agreement is an agreement between a fund and a counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in the event of default on or termination of any one contract. The Funds' accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty.

---

| | | | |
|:---|:---|:---|:---|
| | Investment Grade Floating Rate Fund | Investment Grade Floating Rate Fund | Investment Grade Floating Rate Fund |
| Description | Gross Amounts of<br> Recognized Liabilities | Gross Amounts<br> Offset in the<br> Statement of Assets<br> and Liabilities | Net Amounts of<br> Liabilities Presented<br> in the Statement of<br> Assets and Liabilities |
| Forward Foreign Currency Exchange Contracts | $155682 | $– | $155682 |
| &nbsp;&nbsp;&nbsp;Total | $155682 | $– | $155682 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Net Amounts<br> of Liabilities<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | |
| Counterparty | Net Amounts<br> of Liabilities<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Financial<br> Instruments | Cash<br> Collateral<br> **Pledged**<sup>(a)</sup> | Securities<br> Collateral<br> **Pledged**<sup>(a)</sup> | Net<br> **Amount**<sup>(b)</sup> |
| Morgan Stanley | $155682 | $– | $– | $– | $155682 |
| &nbsp;&nbsp;&nbsp;Total | $155682 | $– | $– | $– | $155682 |

---

---

| | | | |
|:---|:---|:---|:---|
| | Short Duration High Yield Fund | Short Duration High Yield Fund | Short Duration High Yield Fund |
| Description | Gross Amounts of<br> Recognized Assets | Gross Amounts<br> Offset in the<br> Statement of Assets<br> and Liabilities | Net Amounts of<br> Assets Presented<br> in the Statement of<br> Assets and Liabilities |
| Forward Foreign Currency Exchange Contracts | $3509192 | $– | $3509192 |
| &nbsp;&nbsp;&nbsp;Total | $3509192 | $– | $3509192 |

---

**Notes to Financial Statements (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Net Amounts<br> of Assets<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | |
| Counterparty | Net Amounts<br> of Assets<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Financial<br> Instruments | Cash<br> Collateral<br> **Pledged**<sup>(a)</sup> | Securities<br> Collateral<br> **Pledged**<sup>(a)</sup> | Net<br> **Amount**<sup>(c)</sup> |
| Barclays Bank PLC | $215031 | $(181775) | $– | $– | $33256 |
| Citibank | 271041 | (23049) |  |  | 247992 |
| Goldman Sachs | 202430 |  |  |  | 202430 |
| Morgan Stanley | 1448510 | (1448510) |  |  |  |
| State Street Bank and Trust | 422326 | (422326) |  |  |  |
| Toronto Dominion Bank | 949854 | (90006) | (859848) | – | – |
| &nbsp;&nbsp;&nbsp;Total | $3509192 | $(2165666) | $(859848) | $– | $483678 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Gross Amounts of<br> Recognized Liabilities | Gross Amounts<br> Offset in the<br> Statement of Assets<br> and Liabilities | Net Amounts of<br> Liabilities Presented<br> in the Statement of<br> Assets and Liabilities |
| Forward Foreign Currency Exchange Contracts | $11923658 | $– | $11923658 |
| &nbsp;&nbsp;&nbsp;Total | $11923658 | $– | $11923658 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Net Amounts<br> of Liabilities<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | Amounts Not Offset in the<br> Statement of Assets and Liabilities | |
| Counterparty | Net Amounts<br> of Liabilities<br> Presented in<br> the Statement<br> of Assets and<br> Liabilities | Financial<br> Instruments | Cash<br> Collateral<br> **Pledged**<sup>(a)</sup> | Securities<br> Collateral<br> **Pledged**<sup>(a)</sup> | Net<br> **Amount**<sup>(b)</sup> |
| Bank of America | $149760 | $– | $(149760) | $– | $– |
| Barclays Bank PLC | 181775 | (181775) |  |  |  |
| Citibank | 23049 | (23049) |  |  |  |
| J.P. Morgan | 25040 |  |  |  | 25040 |
| Morgan Stanley | 1495417 | (1448510) |  |  | 46907 |
| State Street Bank and Trust | 9958611 | (422326) | (260000) |  | 9276285 |
| Toronto Dominion Bank | 90006 | (90006) | – | – | – |
| &nbsp;&nbsp;&nbsp;Total | $11923658 | $(2165666) | $(409760) | $– | $9348232 |

---

<sup>(a)</sup> Collateral disclosed is limited to an amount not to exceed 100% of the net amount of assets (liabilities) presented in the Statements of Assets and Liabilities, for each respective counterparty.

<sup>(b)</sup> Net amount represents the amount owed by the Fund to the counterparty as of January 31, 2026.

<sup>(c)</sup> Net amount represents the amount owed to the Fund by the counterparty as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;4. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES

**Management Fee**

The Trust has a management fee agreement with Lord Abbett, pursuant to which Lord Abbett provides each Fund with investment management services and executive and other personnel, provides office space and pays for ordinary and necessary office and clerical expenses relating to research and statistical work and supervision of each Fund's investment portfolio. The management fee is accrued daily and payable monthly.

**Notes to Financial Statements (continued)**

The management fee is based on each Fund's average daily net assets at the the following annual rates:

---

| | |
|:---|:---|
| **Emerging Markets Equity Fund** |  |
| First $3 billion | 0.65% |
| Over $3 billion | 0.6% |
| **International Growth Fund** |  |
| First $1 billion | 0.45% |
| Over $1 billion | 0.42% |
| **Investment Grade Floating Rate Fund** |  |
| First $1 billion | 0.25% |
| Next $1 billion | 0.22% |
| Over $2 billion | 0.21% |
| **Short Duration High Yield Fund** |  |
| First $1 billion | 0.35% |
| Over $1 billion | 0.31% |

---

For the six months ended January 31, 2026, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund's average daily net assets:

---

| | |
|:---|:---|
| **Fund** | **Net Effective<br>Management Fee** |
| Emerging Markets Equity Fund | .00% |
| International Growth Fund | .00% |
| Investment Grade Floating Rate Fund | .21% |
| Short Duration High Yield Fund | .31% |

---

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund's average daily net assets. The fund administration fee is accrued daily and payable monthly.

Lord Abbett voluntarily waived certain fees and expenses during the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| Investment Grade Floating Rate Fund | $16808 |
| Short Duration High Yield Fund | 102667 |

---

For the six months ended January 31, 2026 and continuing through November 30, 2026, Lord Abbett has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit the total net annual operating expenses, excluding certain of the Funds' expenses, to the following annual rates:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Effective<br> December 1,<br> 2025 | Effective<br> December 1,<br> 2025 | Prior to<br> December 1,<br> 2025 | Prior to<br> December 1,<br> 2025 |
|  | Classes | Classes | Classes | Classes |
| Fund | A, C, F, I,<br> R3, R4<br> and R5 | F3 and R6 | A, C, F, I,<br> R3, R4<br> and R5 | F3 and R6 |
| Emerging Markets Equity Fund | .90% | .87% | .90% | .89% |
| International Growth Fund | .70% | .64% | .70% | .68% |
| Investment Grade Floating Rate Fund | –% | –% | .35% | .34% |
| Short Duration High Yield Fund | –% | –% | .45% | .37% |

---

**Notes to Financial Statements (continued)**

All contractual fee waivers and expense reimbursement agreements between the Funds and Lord Abbett may be terminated only upon the approval of the Board.

**12b-1 Distribution Plan**

Each Fund has adopted a distribution plan with respect to Class A, C, F, R3 and R4 shares pursuant to Rule 12b-1 under the 1940 Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the "Distributor"), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fees\*** | **Class A** | **Class C**<sup>(1)</sup> | **Class F**<sup>(2)</sup> | **Class R3** | **Class R4** |
| Service | .15%/.25%<sup>(3)</sup> | .25% |  | .25% | .25% |
| Distribution | .05%<sup>(4)</sup> | .75% | .10% | .25% |  |

---

\* The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations.

<sup>(1)</sup> The Rule 12b-1 fee each applicable Fund pays on Class C shares is a blended rate based on 1.00% of each Fund's average daily net assets attributable to Class C shares held less than 1 year and .80% (.25% service and .55% distribution) of each Fund's average daily net assets attributable to Class C shares held for 1 year or more. All Class C shareholders will bear Rule 12b-1 fees at the same rate.

<sup>(2)</sup> For the six months ended January 31, 2026 and continuing through November 30, 2026, the Distributor has contractually agreed to waive each Fund's 0.10% Rule 12b-1 fee for Class F shares. Investment Grade Floating Rate Fund and Short Duration High Yield Fund discontinue the contractual waiver on 11/30/2025. This agreement may be terminated only by the Board.

<sup>(3)</sup> The 12b-1 service fees on Class A shares that Investment Grade Floating Rate Fund and Short Duration High Yield Fund pay are 0.15% of each Fund's average daily net assets and for Emerging Markets Equity Fund and International Growth Fund, 0.25% of each Fund's average daily net assets.

<sup>(4)</sup> Not applicable for Emerging Markets Equity Fund or International Growth Fund.

Class F3, Class I, Class R5 and Class R6 shares do not have a distribution plan.

**Commissions**

The Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the six months ended January 31, 2026:

---

| | | |
|:---|:---|:---|
| | **Distributor<br> Commissions** | **Dealers'<br> Concessions** |
| Emerging Markets Equity Fund | $1022 | $6727 |
| International Growth Fund | 193 | 954 |
| Investment Grade Floating Rate Fund | 66122 | 1418009 |
| Short Duration High Yield Fund | 99958 | 1683483 |

---

The Distributor received the following amounts of CDSCs for the six months ended January 31, 2026:

---

| | | |
|:---|:---|:---|
| | **Class A** | **Class C** |
| Emerging Markets Equity Fund | $– | $– |
| International Growth Fund |  |  |
| Investment Grade Floating Rate Fund | 15388 | 11408 |
| Short Duration High Yield Fund | 17216 | 61473 |

---

One Trustee and certain of the Trust's officers have an interest in Lord Abbett.

&nbsp;&nbsp;&nbsp;&nbsp;5. DISTRIBUTIONS AND TAX INFORMATION

Dividends are paid from net investment income, if any. Capital gain distributions are paid from taxable net realized gains from investments transactions, reduced by allowable capital loss carryforwards, if any. The capital loss carryforward amount, if any, is available to offset future net

**Notes to Financial Statements (continued)**

capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for tax purposes, are reported as a tax return of capital.

The tax character of distributions paid during the six months ended January 31, 2026 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Ordinary<br> Income** | **Net<br> Long-Term<br> Capital Gains** | **Return of<br> Capital** | **Total<br> Distributions<br> Paid** |
| Emerging Markets Equity Fund | $68804 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $– $| 68804 |
| International Growth Fund | 10030 |  | – | 10030 |
| Investment Grade Floating Rate Fund | 96281191 |  | – | 96281191 |
| Short Duration High Yield Fund | 368315827 |  | – | 368315827 |

---

The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Ordinary<br> Income** | **Net<br> Long-Term<br> Capital Gains** | **Return of<br> Capital** | **Total<br> Distributions<br> Paid** |
| Emerging Markets Equity Fund | $58598 | $– | $– $| 58598 |
| International Growth Fund | 8888 |  | – | 8888 |
| Investment Grade Floating Rate Fund | 65990684 | 28477 | – | 66019161 |
| Short Duration High Yield Fund | 629399728 | 604376 | – | 630004104 |

---

Net capital losses recognized by the Funds may be carried forward indefinitely and retain their character as short-term and/or long-term losses. Capital losses incurred that will be carried forward are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Short-Term Losses** | **Long-Term Losses** | **Net Capital Losses** |
| Emerging Markets Equity Fund | $(332683) | &nbsp;&nbsp;&nbsp;&nbsp; $– &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$| (332683) |
| International Growth Fund | (393648) | – | (393648) |
| Investment Grade Floating Rate Fund |  | – |  |
| Short Duration High Yield Fund |  | – |  |

---

As of January 31, 2026, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for each Fund are shown below. The difference between book-basis and tax-basis unrealized appreciation/(depreciation) is attributable to the tax treatment of certain securities, other financial instruments, amortization of premium, and wash sales.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Cost of<br> Investments** | **Gross<br> Unrealized<br> Appreciation** | **Gross<br> Unrealized<br> Depreciation** | **Net<br> Unrealized<br> Appreciation/<br> (Depreciation)** |
| Emerging Markets Equity Fund | $7741151 | $3037906 | $(85489) | $2952417 |
| International Growth Fund | 3004366 | 1329372 | (24515) | 1304857 |
| Investment Grade Floating Rate Fund | 3885246155 | 12244346 | (8270570) | 3973776 |
| Short Duration High Yield Fund | 9849089056 | 203711180 | (131552610) | 72158570 |

---

**Notes to Financial Statements (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;6. PORTFOLIO SECURITIES TRANSACTIONS

Purchases and sales of investment securities (excluding short-term investments) for the six months ended January 31, 2026 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **U.S.<br> Government<br> Purchases\*** | **Non-U.S.<br> Government<br> Purchases** | **U.S.<br> Government<br> Sales\*** | **Non-U.S.<br> Government<br> Sales** |
| Emerging Markets Equity Fund | $– | $4884214 | $– | $2077015 |
| International Growth Fund |  | 1952468 |  | 1661177 |
| Investment Grade Floating Rate Fund | 225917360 | 2154903497 | 247809998 | 1116603398 |
| Short Duration High Yield Fund | 53947163 | 4924342177 | 1753038 | 4100313389 |

---

\* Includes U.S. Government sponsored enterprises securities.

Each Fund is permitted to purchase and sell securities ("cross-trade") from and to other Lord Abbett funds or client accounts pursuant to procedures approved by the Board in compliance with Rule 17a-7 under the 1940 Act (the "Rule"). Each cross-trade is executed at a fair market price in compliance with provisions of the Rule. For the period ended January 31, 2026, the Funds did not engage in cross trade purchases or sales.

&nbsp;&nbsp;&nbsp;&nbsp;7. TRUSTEES' REMUNERATION

The Trust's officers and one Trustee, who are associated with Lord Abbett, do not receive any compensation from the Trust for serving in such capacities. Independent Trustees' fees are allocated among all Lord Abbett-sponsored funds primarily based on the relative net assets of each fund. There is an equity-based plan available to all Independent Trustees under which Independent Trustees may elect to defer receipt of a portion of Trustees' fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Trustees' fees in the Statements of Operations and in Trustees' fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

&nbsp;&nbsp;&nbsp;&nbsp;8. LINE OF CREDIT

For the period ended January 31, 2026, the Funds and certain other funds managed by Lord Abbett (collectively, the "Participating Funds") were party to a syndicated line of credit facility with various lenders for $1.675 billion (the "Syndicated Facility") under which State Street Bank and Trust Company ("SSB") participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million, $300 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended January 31, 2026, the Participating Funds were also party to an additional uncommitted line of credit facility with SSB for $330 million (the "Bilateral Facility"). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million based on past borrowings and likelihood of future borrowings, among other factors.

**Notes to Financial Statements (continued)**

Interest associated with these credit facilities is charged to each Fund based on its borrowings generally at an amount above the Federal Funds rate or at the negotiated rate for swing line loans. In addition, a fee computed at an annual rate of 0.20% on the daily unused portion of the Syndicated Facility which is allocated among the Participating Funds at the end of each quarter. There is no fee associated with the unused portion of the Bilateral Facility.

These credit facilities are to be used for short-term working capital purposes as additional sources of liquidity to satisfy redemptions.

For the six months ended January 31, 2026, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

&nbsp;&nbsp;&nbsp;&nbsp;9. INTERFUND LENDING PROGRAM

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission ("SEC exemptive order") certain registered open-end management investment companies managed by Lord Abbett, including each Fund, participate in a joint lending and borrowing program (the "Interfund Lending Program"). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

During the six months ended January 31, 2026, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

&nbsp;&nbsp;&nbsp;&nbsp;10. CUSTODIAN AND ACCOUNTING AGENT

SSB is the Funds' custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund's NAV.

&nbsp;&nbsp;&nbsp;&nbsp;11. SECURITIES LENDING AGREEMENT

The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds' securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income, if any, in each Fund's Statement of Operations.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

**Notes to Financial Statements (continued)**

As of January 31, 2026, the market value of securities loaned and collateral received were as follows:

---

| | | |
|:---|:---|:---|
| **Funds** | **Market Value<br> of Securities<br> Loaned** | **Collateral<br> Received<sup>(1)</sup>** |
| Investment Grade Floating Rate Fund | $4762944 | $4892500 |
| Short Duration High Yield Fund | 348198152 | 366145792 |

---

<sup>(1)</sup> Statements of Assets and Liabilities location: Payables: Collateral due to broker for securities lending.

&nbsp;&nbsp;&nbsp;&nbsp;12. INVESTMENT RISKS

Each of the Investment Grade Floating Rate Fund and Short Duration High Yield Fund is subject to the general risks and considerations associated with investing in debt securities and to the changing prospects of individual companies and/or sectors in which the Funds invest. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of debt securities are likely to decline; when rates fall, such prices tend to rise. Longer-term debt securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a debt security will fail to make timely payments of principal or interest to a Fund, a risk that is greater with high-yield securities (sometimes called "lower-rated bonds" or "junk bonds"), in which the Funds may substantially invest. Some issuers, particularly of high-yield securities, may default as to principal and/or interest payments after a fund purchases its securities. A default, or concerns in the market about an increase in the risk of default, may result in losses to the Funds. High-yield securities are subject to greater price fluctuations, as well as additional risks. The market for below investment grade securities may be less liquid, which may make such securities more difficult to sell at an acceptable price, especially during periods of financial distress, increased market volatility, or significant market decline.

Each Fund is subject to the general risks and considerations associated with equity investing. The value of the Funds' investments will fluctuate in response to movements in the equity securities markets in general and to the changing prospects of individual companies in which the Funds invest. If a Fund's assessment of a company's value or prospects for exceeding earnings expectations or market conditions is wrong, the Fund could suffer losses or produce poor performance relative to other funds, even in a rising market.

Large company stocks, in which the International Growth Fund may invest, may perform differently than the market as a whole and other types of stocks, such as small company stocks.

Each Fund is subject to the risks of investing in foreign securities. Foreign securities may pose greater risks than domestic securities, including greater price fluctuations, economic, political, and social instability and subject to less government supervision, lack of transparency, inadequate regulatory and accounting standards, foreign taxes, and higher transaction costs. The securities of foreign companies also may be subject to inadequate exchange control regulations, the imposition of economic sanctions, threat thereof or other government restrictions, higher transaction and other costs, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets. Foreign investments also may be affected by changes in currency rates or currency controls. These risks are generally greater for securities issued by companies in emerging market countries.

**Notes to Financial Statements (continued)**

Each of the Investment Grade Floating Rate Fund and Short Duration High Yield Fund is subject to the risk of investing in securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities (such as the Government National Mortgage Association ("Ginnie Mae"), the Federal National Mortgage Association ("Fannie Mae"), or the Federal Home Loan Mortgage Corporation ("Freddie Mac")). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. Government related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. Government and no assurance can be given that the U.S. Government would provide financial support to its agencies and instrumentalities if not required to do so by law. Consequently, the Funds may be required to look principally to the agency issuing or guaranteeing the obligation.

The mortgage-related and asset-backed securities in which the Investment Grade Floating Rate Fund and Short Duration High Yield Fund may invest may be particularly sensitive to changes in prevailing interest rates, and economic conditions, including delinquencies and/or defaults. These changes can affect the value, income, and/or liquidity of such positions. When interest rates are declining, the value of these securities with prepayment features may not increase as much as other fixed income securities. Early principal repayment may deprive a Fund of income payments above current market rates. Alternatively, -rising interest rates may cause prepayments to occur at a slower-than expected rate, extending the duration of a security and typically reducing its value. The payment rate will thus affect the price and volatility of a mortgage-related security. In addition, a Fund may invest in non-agency asset backed and mortgage related securities, which are issued by private institutions, not by government-sponsored enterprises.

Each of the Emerging Markets Equity Fund and International Growth Fund is subject to the risks of investing in growth stocks. Growth stocks typically trade at higher multiples of current earnings than other stocks. Growth stocks often are more sensitive to market fluctuations than other securities because their market prices are highly sensitive to future earnings expectations. At times when it appears that these expectations may not be met, prices of growth stocks typically fall. Growth stocks may be more volatile than securities of slower-growing issuers.

The Short Duration High Yield Fund may invest in convertible securities, which have both equity and fixed income risk characteristics, including market, credit, liquidity, and interest rate risks. Generally, convertible securities offer lower interest or dividend yields than non-convertible securities of similar quality and less potential for gains or capital appreciation in a rising equity securities market than equity securities. They tend to be more volatile than other fixed income securities and the market for convertible securities may be less liquid than the markets for stocks or bonds. A significant portion of convertible securities have below investment grade credit ratings and are subject to increased credit and liquidity risks.

Each Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with directly investing in securities. Derivatives may be subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, and credit risk. Illiquid securities may lower the Funds' returns since the Funds may be unable to sell these securities at their desired time or price. Derivatives also may involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate or index. Whether a Fund's use of derivatives is successful may depend on, among other things, the Fund's ability to correctly forecast market movements and other factors. Losses may also arise from the failure of a derivative counterparty to meet its contractual obligations. If the Fund incorrectly forecasts these and other factors, its performance could suffer. The Fund's use of derivatives could result in a loss exceeding the amount of the Fund's investment in these instruments.

**Notes to Financial Statements (continued)**

The Investment Grade Floating Rate Fund and Short Duration High Yield Fund may invest in loans, which include, among other things, loans to U.S. or foreign corporations, partnerships, other business entities, or to U.S. and non-U.S. governments. Each Fund may invest in fixed rate and variable rate loans and floating or adjustable rate loans, including bridge loans, novations, assignments, and participations, which are subject to increased credit and liquidity risks. Floating rate or adjustable rate senior loans are subject to increased credit and liquidity risks. The loans in which the Short Duration High Yield Fund invests will usually be rated below investment grade or may also be unrated. Below investment grade loans, as in the case of high-yield debt securities, or junk bonds, are usually more credit sensitive than interest rate sensitive, although the value of these instruments may be impacted by broader interest rate swings in the overall fixed income market. The Short Duration High Yield Fund may also invest in, or obtain exposure to, obligations that may be "covenant-lite," which means such obligations lack certain financial maintenance covenants. Should a loan held by the Fund begin to deteriorate in quality, the Fund's ability to negotiate with the borrower may be delayed under a covenant-lite loan compared to a loan with full maintenance covenants. This may in turn delay the Fund's ability to seek to recover its investment. The Investment Grade Floating Rate Fund may also invest in, or obtain exposure to, collateralized loan obligations ("CLOs") and may be subject to the economic risks of the underlying loans combined with the risks associated with the CLO structure governing the priority of payments, and include interest rate risk, credit risk, liquidity risk, prepayment risk, and the risk of default of the underlying asset, among others.

Geopolitical and other events, such as war, acts of terrorism, tariffs and other restrictions on trade, natural disasters, the spread of infectious illnesses, epidemics and pandemics, environmental and other public health issues, supply chain disruptions, inflation, recessions or other events, and governments' reactions to such events, may lead to increased market volatility and instability in world economies and markets generally and may have adverse effects on the performance of a Fund and its investments.

A widespread health crisis, such as a global pandemic, could cause substantial market volatility, impact the ability to complete redemptions, and adversely impact Fund performance. For example, the effects to public health, business and market conditions resulting from the COVID-19 pandemic have had, and may in the future have, a significant negative impact on the performance of each Fund's investments, including exacerbating other pre-existing political, social and economic risks. In addition, the increasing interconnectedness of markets around the world may result in many markets being affected by events or conditions in a single country or region or events affecting a single or small number of issuers.

It is difficult to accurately predict or foresee when events or conditions affecting the U.S. or global financial markets, economies, and issuers may occur, the effects of such events or conditions, potential escalations or expansions of these events, possible retaliations in response to sanctions or similar actions and the duration or ultimate impact of those events. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund's investments and negatively impact each Fund's performance and your investment in each Fund.

**Notes to Financial Statements (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;13. SUMMARY OF CAPITAL TRANSACTIONS

Transactions in shares of capital stock were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Emerging Markets Equity Fund** | **Six Months Ended<br>January 31, 2026<br>(unaudited** | **Six Months Ended<br>January 31, 2026<br>(unaudited)** | | **Year Ended<br>July 31, 2025** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 34951 | $737917 | 13827 | $232000 |
| Reinvestment of distributions | 369 | 7270 | 213 | 3375 |
| Shares reacquired | (19806) | (380231) | (22989) | (386679) |
| Increase (decrease) | 15514 | $364956 | (8949) | $(151304) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 1513 | $29834 | 6757 | $106715 |
| Reinvestment of distributions | 26 | 516 | 19 | 298 |
| Shares reacquired | (2215) | (43713) | (491) | (7831) |
| Increase (decrease) | (676) | $(13363) | 6285 | $99182 |
| **Class F Shares** |  |  |  |  |
| Shares sold | 290 | $5500 |  | $– |
| Reinvestment of distributions | 3 | 62 | – | – |
| Increase | 293 | $5562 | – | $– |
| **Class I Shares** |  |  |  |  |
| Shares sold | 116981 | $2531741 | 2920 | $46070 |
| Reinvestment of distributions | 57 | 1114 | 2 | 28 |
| Shares reacquired | (1800) | (39805) | – | – |
| Increase | 115238 | $2493050 | 2922 | $46098 |
| **International Growth Fund** | **Six Months Ended<br>January 31, 2026<br>(unaudited** | **Six Months Ended<br>January 31, 2026<br>(unaudited)** |  | **Year Ended<br>July 31, 2025** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 4718 | $81640 | 10175 | $156338 |
| Reinvestment of distributions | 76 | 1268 | 99 | 1417 |
| Shares reacquired | (548) | (9557) | (15087) | (225957) |
| Increase (decrease) | 4246 | $73351 | (4813) | $(68202) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 512 | $8513 | 599 | $8636 |
| Shares reacquired | (348) | (5990) | (1078) | (16035) |
| Increase (decrease) | 164 | $2523 | (479) | $(7399) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 9534 | $161928 | 31512 | $465782 |
| Reinvestment of distributions | 87 | 1454 | 65 | 927 |
| Shares reacquired | (1725) | (29055) | (31641) | (461730) |
| Increase (decrease) | 7896 | $134327 | (64) | $4979 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold |  | $1 | 33 | $472 |
| Shares reacquired | – | (3) | (2) | (32) |
| Increase (decrease) | – | $(2) | 31 | $440 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Growth Fund** | **Six Months Ended<br>January 31, 2026<br>(unaudited** | **Six Months Ended<br>January 31, 2026<br>(unaudited)** | | **Year Ended<br>July 31, 2025** |
| **Class R6 Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 4400 | $76702 | 22202 | $321437 |
| Reinvestment of distributions | 37 | 622 | 25 | 359 |
| Shares reacquired | (9) | (148) | (428) | (6134) |
| Increase | 4428 | $77176 | 21799 | $315662 |
| **Investment Grade Floating Rate Fund** | **Six Months Ended<br>January 31, 2026<br>(unaudited** | **Six Months Ended<br>January 31, 2026<br>(unaudited)** |  | **Year Ended<br>July 31, 2025** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 17247406 | $176778569 | 24026827 | $246241404 |
| Reinvestment of distributions | 872663 | 8942716 | 488865 | 5007048 |
| Shares reacquired | (2603738) | (26677380) | (3376654) | (34623598) |
| Increase | 15516331 | $159043905 | 21139038 | $216624854 |
| **Class C Shares** |  |  |  |  |
| Shares sold | 2672806 | $27392164 | 4273064 | $43785704 |
| Reinvestment of distributions | 130006 | 1332496 | 77332 | 791818 |
| Shares reacquired | (386822) | (3963953) | (308628) | (3162272) |
| Increase | 2415990 | $24760707 | 4041768 | $41415250 |
| **Class F Shares** |  |  |  |  |
| Shares sold | 2886395 | $29591449 | 8750785 | $89771601 |
| Reinvestment of distributions | 136930 | 1403912 | 236366 | 2421240 |
| Shares reacquired | (5520471) | (56630350) | (1730052) | (17671933) |
| Increase (decrease) | (2497146) | $(25634989) | 7257099 | $74520908 |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 7952510 | $81509233 | 6592750 | $67412232 |
| Reinvestment of distributions | 326004 | 3340629 | 62380 | 638519 |
| Shares reacquired | (1122397) | (11499149) | (168016) | (1718321) |
| Increase | 7156117 | $73350713 | 6487114 | $66332430 |
| **Class I Shares** |  |  |  |  |
| Shares sold | 140473620 | $1439685386 | 260778166 | $2673110991 |
| Reinvestment of distributions | 7907593 | 81049673 | 5548143 | 56821808 |
| Shares reacquired | (66729629) | (683901141) | (45844573) | (469115850) |
| Increase | 81651584 | $836833918 | 220481736 | $2260816949 |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 18 | $180 |  | $– |
| Reinvestment of distributions |  | 2 |  |  |
| Shares reacquired | – | (2) | (1462) | (15000) |
| Increase (decrease) | 18 | $180 | (1462) | $(15000) |
| **Class R6 Shares** |  |  |  |  |
| Shares reacquired | – | – | (141326) | (1450000) |
| Decrease | – | $– | (141326) | $(1450000) |

---

**Notes to Financial Statements (concluded)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Duration High Yield Fund** | **Six Months Ended<br>January 31, 2026<br>(unaudited** | **Six Months Ended<br>January 31, 2026<br>(unaudited)** | | **Year Ended<br>July 31, 2025** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 30683224 | $301711270 | 65789148 | $648074776 |
| Reinvestment of distributions | 3832489 | 37684696 | 6056436 | 59488534 |
| Shares reacquired | (15652207) | (153747147) | (29817383) | (289542910) |
| Increase | 18863506 | $185648819 | 42028201 | $418020400 |
| **Class C Shares** |  |  |  |  |
| Shares sold | 9142105 | $89885417 | 20537998 | $202650311 |
| Reinvestment of distributions | 1181119 | 11613820 | 1856919 | 18229163 |
| Shares reacquired | (4142894) | (40733051) | (5175539) | (50396305) |
| Increase | 6180330 | $60766186 | 17219378 | $170483169 |
| **Class F Shares** |  |  |  |  |
| Shares sold | 2551420 | $25077413 | 10152944 | $100511703 |
| Reinvestment of distributions | 386348 | 3798024 | 1009767 | 9928923 |
| Shares reacquired | (5768534) | (56591828) | (9233151) | (89992927) |
| Increase (decrease) | (2830766) | $(27716391) | 1929560 | $20447699 |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 11138673 | $109591658 | 28075338 | $276315096 |
| Reinvestment of distributions | 1938301 | 19075935 | 2986504 | 29337476 |
| Shares reacquired | (6081675) | (59808410) | (9935426) | (96722281) |
| Increase | 6995299 | $68859183 | 21126416 | $208930291 |
| **Class I Shares** |  |  |  |  |
| Shares sold | 181991473 | $1785939506 | 484812443 | $4767046275 |
| Reinvestment of distributions | 28323786 | 277958085 | 49757568 | 487874721 |
| Shares reacquired | (131713175) | (1291509305) | (263376322) | (2549461260) |
| Increase | 78602084 | $772388286 | 271193689 | $2705459736 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 841 | $8292 | 87261 | $866878 |
| Reinvestment of distributions | 3580 | 35205 | 7412 | 72769 |
| Shares reacquired | (5854) | (57571) | (21412) | (208996) |
| Increase (decrease) | (1433) | $(14074) | 73261 | $730651 |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 2127 | $20859 | 447 | $4376 |
| Reinvestment of distributions | 308 | 3034 | 921 | 9077 |
| Shares reacquired | (7358) | (72434) | (4624) | (45896) |
| Decrease | (4923) | $(48541) | (3256) | $(32443) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 56053 | $551353 | 359845 | $3474881 |
| Reinvestment of distributions | 15193 | 149397 | 9020 | 88170 |
| Shares reacquired | (13574) | (133430) | (50803) | (486342) |
| Increase | 57672 | $567320 | 318062 | $3076709 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 198805 | $1954329 | 878329 | $8651746 |
| Reinvestment of distributions | 47228 | 464417 | 76258 | 748773 |
| Shares reacquired | (114299) | (1121581) | (310587) | (3017695) |
| Increase | 131734 | $1297165 | 644000 | $6382824 |

---

**Changes in and Disagreements with Accountants**

There were no changes in or disagreements with accountants during the period.

**Proxy Disclosures**

There were no matters submitted to a vote of shareholders during the period.

**Remuneration Paid to Trustees, Officers, and Others**

Remuneration paid to trustees, officers, and others is included in "Trustees' Remuneration" under Item 7 of this Form N-CSR.

![](x7_c115320x143x1m4.jpg)

---

| | | |
|:---|:---|:---|
| ![](x7_c115320x143x2m4.jpg) | Lord Abbett Trust I |  |
| This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus.<br>Lord Abbett mutual fund shares are distributed by <br> LORD ABBETT DISTRIBUTOR LLC. | Emerging Markets Equity Fund<br>International Growth Fund<br>Investment Grade Floating Rate Fund<br>Short Duration High Yield Fund | TRUST-I-3<br> (03/26) |

---

![](x5_c115321x1x1m4.jpg)

LORD ABBETT

FINANCIAL STATEMENTS

AND OTHER IMPORTANT

INFORMATION

Lord Abbett

Diversification Shares – Enhanced Municipal Yield Completion Fund

*For the six-month period ended January 31, 2026*

**Table of Contents**

---

| | |
|:---|:---|
| 1 | [**Schedule of Investments (Item 7)**](#xx5xc115321a001xm4) |
| 18 | [**Statement of Assets and Liabilities (Item 7)**](#xx5xc115321a002xm4) |
| 19 | [**Statement of Operations (Item 7)**](#xx5xc115321a003xm4) |
| 20 | [**Statements of Changes in Net Assets (Item 7)**](#xx5xc115321a004xm4) |
| 22 | [**Financial Highlights (Item 7)**](#xx5xc115321a005xm4) |
| 24 | [**Notes to Financial Statements (Item 7)**](#xx5xc115321a006xm4) |
| 33 | [**Changes in and Disagreements with Accountants (Item 8)**](#xx5xc115321a007xm4) |
| 33 | [**Proxy Disclosures (Item 9)**](#xx5xc115321a008xm4) |
| 33 | [**Remuneration Paid to Trustees, Officers, and Others (Item 10)**](#xx5xc115321a009xm4) |

---

**Schedule of Investments (unaudited)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **MUNICIPAL BONDS 99.52%** |  |  |  |  |  |  |
| **Corporate-Backed 15.25%** |  |  |  |  |  |  |
| Arkansas Development Finance Authority - US Steel Corp AMT | 5.70% |  | 5/1/2053 | BB+ | $1000000 | $1016831 |
| Arkansas Development Finance Authority - Weyerhaeuser Co AMT | 3.875% | <sup>#(a)</sup> | 10/15/2065 | BBB | 1270000 | 1270750 |
| Baldwin County Industrial Development Authority - Novelis Corp AL AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2055 | BB | 1750000 | 1789776 |
| Black Ridge Infrastructure Financing District - Black Ridge Assessment Area UT | 5.50% |  | 12/1/2040 | NR | 2000000 | 2030405 |
| Build NYC Resource Corp. - Pratt Paper Inc NY AMT<sup>†</sup> | 5.00% |  | 1/1/2035 | NR | 2010000 | 2013663 |
| Cabot Citrus Farms Community Development District FL | 5.25% |  | 3/1/2029 | NR | 1410000 | 1429810 |
| California Infrastructure & Economic Development Bank - DesertXpress Enterprises LLC AMT<sup>†</sup> | 12.00% | <sup>#(a)</sup> | 1/1/2065 | NR | 1265000 | 948750 |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP AMT<sup>†</sup> | 5.00% |  | 11/21/2045 | Baa3 | 2000000 | 2001587 |
| Chandler Industrial Development Authority - Intel Corp AZ AMT | 4.00% | <sup>#(a)</sup> | 6/1/2049 | BBB | 2270000 | 2316264 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2027 | BB+ <sup>(b)</sup> | 1500000 | 1526668 |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 4.45% | <sup>#(a)</sup> | 7/1/2037 | NR | 1000000 | 1012472 |
| Fort Bend County Industrial Development Corp. - NRG Energy Inc TX | 4.75% |  | 5/1/2038 | Baa2 | 500000 | 500217 |
| Grapevine Wash Local District - Grapevine Wash Local District Assessment Area No 1 UT<sup>†</sup> | 5.25% |  | 12/1/2044 | NR | 750000 | 744220 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A FL | 4.75% |  | 5/1/2031 | NR | 980000 | 1027074 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A FL | 5.60% |  | 5/1/2044 | NR | 1900000 | 1967011 |
| Illinois Finance Authority - LRS Holdings LLC AMT<sup>†</sup> | 7.375% | <sup>#(a)</sup> | 9/1/2042 | NR | 1000000 | 1147044 |
| Industrial Development Board of The City of Kingsport Tennessee - Domtar Paper Co LLC TN AMT<sup>†</sup> | 5.25% | <sup>#(a)</sup> | 12/1/2054 | B | 2000000 | 1931198 |

---

*See Notes to Financial Statements.* 1

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | BBB+ | $2810000 | $2810468 |
| Iowa Finance Authority - Iowa Fertilizer Co LLC | 5.00% |  | 12/1/2050 | AA+ | 100000 | 116267 |
| Louisiana Local Government Environmental Facilities & Community Development Authority - Westlake Corp | 3.50% |  | 11/1/2032 | BBB+ | 3145000 | 3150556 |
| Louisiana Public Facilities Authority - Waste Pro USA Inc LA AMT<sup>†</sup> | 4.375% | <sup>#(a)</sup> | 5/1/2053 | NR | 2000000 | 2001256 |
| Maryland Economic Development Corp. - Core Natural Resources Inc<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 7/1/2048 | NR | 1200000 | 1284567 |
| Mission Economic Development Corp. - Natgasoline LLC TX AMT<sup>†</sup> | 4.625% |  | 10/1/2031 | BB- | 1725000 | 1731483 |
| Mississippi Business Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 4.375% | <sup>#(a)</sup> | 2/1/2048 | NR | 1250000 | 1250072 |
| New Hampshire Business Finance Authority - Reworld Holding Corp<sup>†</sup> | 4.625% |  | 11/1/2042 | B- | 1750000 | 1568264 |
| New York City Industrial Development Agency - TRIPS Obligated Group NY | 5.00% |  | 7/1/2028 | BBB+ | 1010000 | 1010924 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.00% |  | 11/15/2044 | NR | 4695000 | 4695125 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 3.00% |  | 8/1/2031 | BB <sup>(b)</sup> | 1000000 | 955651 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2031 | B+ | 3000000 | 3003211 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% |  | 8/1/2036 | B+ | 1000000 | 1048114 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 10/1/2035 | Baa2 | 1500000 | 1593316 |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% |  | 11/1/2042 | B- | 1250000 | 1137039 |
| Ohio Air Quality Development Authority - American Electric Power Co Inc AMT | 2.60% | <sup>#(a)</sup> | 6/1/2041 | BBB | 115000 | 111441 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.35% |  | 7/1/2040 | BB+ | 500000 | 550148 |
| Phenix City Industrial Development Board - WestRock Coated Board LLC AL AMT | 4.125% |  | 5/15/2035 | BBB | 2515000 | 2515072 |
| Phenix City Industrial Development Board AL | 3.625% |  | 5/15/2030 | BBB | 45000 | 44999 |

---

2 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 5.00% |  | 1/1/2039 | NR | $1100000 | $1102779 |
| Port of Seattle Industrial Development Corp. - Delta Air Lines Inc WA AMT | 5.00% |  | 4/1/2030 | BBB- | 1000000 | 1000281 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2036 | NR | 300000 | 296803 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2041 | NR | 1000000 | 945749 |
| Tuscaloosa County Industrial Development Authority - Hunt Refining Co AL<sup>†</sup> | 5.25% |  | 5/1/2044 | NR | 1000000 | 1006431 |
| Village Community Development District No. 15 FL<sup>†</sup> | 5.00% |  | 5/1/2043 | NR | 1000000 | 1022035 |
| *Total* |  |  |  |  |  | 60625791 |
| **Education 10.03%** |  |  |  |  |  |  |
| Arizona Industrial Development Authority - BASIS Schools Inc Obligated Group<sup>†</sup> | 5.00% |  | 7/1/2037 | BB+ | 2000000 | 2013204 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 5.125% |  | 6/15/2040 | Ba2 | 600000 | 619533 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 5.00% |  | 6/15/2039 | NR | 830000 | 821206 |
| Clifton Higher Education Finance Corp. - Aristoi Classical Academy TX | 5.00% |  | 8/15/2040 | BB | 3000000 | 2957205 |
| Development Authority Of The City Of Marietta - Life University Inc GA<sup>†</sup> | 5.00% |  | 11/1/2037 | Ba3 | 1500000 | 1477671 |
| District of Columbia - Georgetown University/The | 5.00% | <sup>#(a)</sup> | 4/1/2060 | A- | 1000000 | 1143671 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% |  | 7/1/2045 | BBB+ | 1550000 | 1551684 |
| Florida Development Finance Corp. - Renaissance Charter School Inc Series 2025 Obligated Group<sup>†</sup> | 5.50% |  | 6/15/2040 | Ba1 | 900000 | 951332 |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†</sup> | 6.00% |  | 7/1/2045 | BB+ | 2500000 | 2517030 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2036 | Ba2 | 1725000 | 1710955 |

---

*See Notes to Financial Statements.* 3

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Education (continued)** |  |  |  |  |  |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% | 7/1/2035 | BB+ | $1000000 | $1000448 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.00% | 10/1/2031 | BBB- | 1440000 | 1549710 |
| Massachusetts Development Finance Agency - Emerson College | 5.00% | 10/1/2043 | Baa3 | 1500000 | 1453293 |
| Massachusetts Development Finance Agency - Emerson College | 5.25% | 1/1/2042 | BBB+ | 2010000 | 2017923 |
| Massachusetts Development Finance Agency - Emmanuel College | 5.00% | 10/1/2036 | Baa3 | 1000000 | 1002276 |
| Massachusetts Development Finance Agency - Suffolk University | 5.50% | 7/1/2041 | Baa3 | 2995000 | 3222362 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Lipscomb University Obligated Group TN | 5.00% | 10/1/2036 | BBB- | 1000000 | 1019089 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Lipscomb University Obligated Group TN | 5.00% | 10/1/2037 | BBB- | 1000000 | 1014864 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Lipscomb University Obligated Group TN | 5.00% | 10/1/2038 | BBB- | 1585000 | 1602918 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (FGIC) | 3.625% <br> (CPI YoY \* 1 + 0.89% | 3/1/2027 | Baa1 | 200000 | 201066 |
| Ohio Air Quality Development Authority - Duke Energy Corp AMT | 4.25% | 11/1/2039 | BBB | 1500000 | 1524275 |
| Oklahoma Development Finance Authority - Oklahoma City University Obligated Group | 5.00% | 8/1/2044 | BBB- | 1490000 | 1434454 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2034 | BB+ | 2500000 | 2607136 |
| Public Finance Authority - Wingate University WI | 5.25% | 10/1/2038 | BBB- | 1000000 | 1010091 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2044 | NR | 1670000 | 1571138 |
| South Carolina Jobs-Economic Development Authority - American Leadership Academy - Lexington | 5.50% | 6/15/2033 | NR | 1850000 | 1849915 |
| *Total* |  |  |  |  | 39844449 |

---

4 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **General Obligation 5.17%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 5.25% | <sup>#(a)</sup> | 1/1/2054 | Baa1 | $1745000 | $1857450 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2030 | BB+ | 1000000 | 1020571 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2032 | BB+ | 1105000 | 1121476 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2040 | BB+ | 4000000 | 3999914 |
| Chicago Board of Education IL GO | 5.25% |  | 12/1/2039 | BB+ | 1530000 | 1513599 |
| City of Chicago IL GO | 6.00% |  | 1/1/2044 | BBB | 1000000 | 1083395 |
| Commonwealth of Puerto Rico GO | Zero Coupon |  | 7/1/2033 | NR | 255787 | 187507 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 855623 | 841742 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2041 | NR | 5019000 | 4717633 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2027 | NR | 209773 | 214528 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2029 | NR | 124000 | 131789 |
| Idaho Falls Auditorium District COPS<sup>†</sup> | 5.25% |  | 5/15/2051 | NR | 1980000 | 1885281 |
| Jefferson County Civic Facility Development Corp. - Samaritan Medical Center Obligated NY | 5.00% |  | 11/1/2037 | BB | 885000 | 887835 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 5.50% |  | 6/30/2038 | Baa2 | 1000000 | 1102017 |
| *Total* |  |  |  |  |  | 20564737 |
| **Health Care 19.35%** |  |  |  |  |  |  |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.00% |  | 8/1/2041 | BBB+ <sup>(b)</sup> | 1250000 | 1251936 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon |  | 6/30/2044 | NR | 1556000 | 1114873 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% |  | 6/30/2039 | NR | 1895000 | 1748284 |
| Bucks County Industrial Development Authority - Grand View Hospital/Sellersville Obligated Group PA | 4.00% |  | 7/1/2046 | BBB+ | 245000 | 212801 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.00% |  | 7/1/2030 | B | 1100000 | 1100105 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.00% |  | 7/1/2040 | B | 350000 | 337337 |
| California Health Facilities Financing Authority - Adventist Health System/ West Obligated Group | 5.25% |  | 12/1/2040 | BBB+ | 4230000 | 4660749 |

---

*See Notes to Financial Statements.* 5

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Health Care (continued)** |  |  |  |  |  |
| California Municipal Finance Authority Palomar Health Obligated Group AG | 5.25% | 11/1/2035 | AA | $1000000 | $1065274 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2026 | BB+ | 100000 | 100519 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2036 | BB+ | 1000000 | 1004411 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.25% | 12/1/2043 | BB+ | 1475000 | 1503620 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.25% | 12/1/2048 | BB+ | 2500000 | 2518041 |
| City of Colby - Citizens Medical Center Inc KS | 5.50% | 7/1/2026 | NR | 100000 | 100022 |
| City of Minneapolis - Fairview Health Services Obligated Group MN | 4.00% | 11/15/2037 | BBB+ | 2175000 | 2179631 |
| City of Minneapolis - Fairview Health Services Obligated Group MN | 5.00% | 11/15/2035 | BBB+ | 2600000 | 2696508 |
| City of Tallahassee - Tallahassee Memorial HealthCare Inc FL | 5.00% | 12/1/2044 | Baa1 | 2340000 | 2340057 |
| Connecticut State Health & Educational Facilities Authority - Nuvance Health Obligated Group | 4.00% | 7/1/2041 | BBB+ | 330000 | 323245 |
| Connecticut State Health & Educational Facilities Authority - Nuvance Health Obligated Group | 5.00% | 7/1/2033 | BBB+ | 130000 | 136185 |
| County of Cuyahoga - MetroHealth System OH | 5.00% | 2/15/2037 | BBB- | 2000000 | 2015521 |
| County of Cuyahoga - MetroHealth System/The OH | 5.00% | 2/15/2042 | BBB- | 750000 | 750891 |
| County of Muskingum - Genesis Healthcare System Obligated Group OH | 5.00% | 2/15/2044 | BB+ | 2000000 | 1999846 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 6.625% | 12/1/2042 | NR | 1000000 | 1062136 |
| Doylestown Hospital Authority - Doylestown Hospital Obligated Group PA<sup>†</sup> | 5.00% | 7/1/2031 | NR | 30000 | 32001 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 4.00% | 7/1/2034 | BBB+ | 500000 | 501330 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 5.00% | 7/1/2046 | BBB+ | 2925000 | 2877925 |

---

6 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Greeneville Health & Educational Facilities Board - Ballad Health Obligated Group TN | 5.00% | 7/1/2036 | A- | $500000 | $519190 |
| Greeneville Health & Educational Facilities Board - Ballad Health Obligated Group TN | 5.00% | 7/1/2037 | A- | 500000 | 517505 |
| King County Public Hospital District No. 4 WA | 6.625% | 12/1/2045 | NR | 1500000 | 1516415 |
| Lakewood Ranch Stewardship District Series 2025 Assessment Southeast FL | 5.50% | 5/1/2040 | NR | 2145000 | 2291980 |
| Maryland Health & Higher Educational Facilities Authority - TidalHealth Obligated Group | 4.00% | 7/1/2036 | A- | 2800000 | 2850603 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% | 7/1/2033 | BBB | 1000000 | 1005572 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% | 7/1/2035 | BBB | 260000 | 261184 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% | 7/1/2036 | BBB- | 2000000 | 2034235 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% | 7/1/2044 | BBB- | 3330000 | 3275109 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.50% | 10/1/2037 | BBB- | 1855000 | 2077199 |
| Monroe County Industrial Development Corp. - Rochester Regional Health Obligated Group NY | 5.00% | 12/1/2032 | BBB+ | 845000 | 854186 |
| New Jersey Economic Development Authority - Bancroft Neurohealth Obligated Group | 5.00% | 6/1/2036 | NR | 1000000 | 1001901 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 4.00% | 7/1/2034 | BBB- | 500000 | 500346 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 3.00% | 7/1/2033 | B | 160000 | 136792 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2038 | B | 2205000 | 1926730 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2039 | B | 1585000 | 1367981 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2036 | BBB- | 425000 | 409891 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2038 | BBB- | 720000 | 684280 |

---

*See Notes to Financial Statements.* 7

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% | 11/1/2035 | BBB- | $1360000 | $1510286 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% | 11/1/2036 | BBB- | 1620000 | 1786435 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% | 10/1/2030 | BBB- | 250000 | 270389 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2038 | BB+ | 650000 | 661629 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.25% | 8/15/2043 | BB+ | 2225000 | 2246880 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2041 | NR | 285000 | 295245 |
| Palm Beach County Health Facilities Authority - Lifespace Communities Inc Obligated Group FL | 5.00% | 5/15/2033 | BBB <sup>(b)</sup> | 1000000 | 1016480 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2036 | CCC+ | 50000 | 49633 |
| Philadelphia Authority for Industrial Development - Greater Philadelphia Health Action Inc PA | 6.00% | 6/1/2045 | BBB- <sup>(b)</sup> | 650000 | 681453 |
| Public Finance Authority - Bancroft Neurohealth Obligated Group WI<sup>†</sup> | 4.625% | 6/1/2036 | NR | 125000 | 125004 |
| Public Finance Authority - Bancroft Neurohealth Obligated Group WI<sup>†</sup> | 5.00% | 6/1/2036 | NR | 1480000 | 1481840 |
| Public Finance Authority - RBS Evolution LLC WI<sup>†</sup> | 10.00% | 11/1/2038 | NR | 150000 | 168390 |
| Rhode Island Health & Educational Building Corp. - Care New England Health System Obligated Group | 5.00% | 9/1/2031 | BB- | 1250000 | 1254999 |
| Rockland County Economic Assistance Corp. - Bon Secours Health System Inc Obligated Group NY | 6.50% | 11/1/2030 | NR | 3000000 | 3128537 |
| South Carolina Jobs-Economic Development Authority - Wesley Commons Obligated Group | 5.50% | 10/1/2045 | NR | 775000 | 783134 |
| Southeastern Ohio Port Authority - Marietta Area Healthcare Inc Obligated Group | 5.50% | 12/1/2043 | B <sup>(b)</sup> | 1250000 | 1225908 |
| Vermont Educational & Health Buildings Financing Agency - University of Vermont Health Network Obligated Group | 5.00% | 12/1/2035 | A | 500000 | 501843 |
| Washington State Housing Finance Commission - Horizon House Obligated Group/WA | 4.375% | 1/1/2033 | BB <sup>(b)</sup> | 2865000 | 2871518 |
| *Total* |  |  |  |  | 76923950 |

---

8 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br>Rate** | | **Maturity <br>Date** | **Credit <br>Rating: <br>S&P or <br>Moody's** | **Principal <br>Amount** | **Fair <br>Value** |
| **Housing 6.25%** |  |  |  |  |  |  |
| California Housing Finance Agency | 3.25% |  | 8/20/2036 | BBB+ | $933043 | $911838 |
| California Municipal Finance Authority | 4.326% | <sup>#(a)</sup> | 11/20/2040 | AA- | 1996028 | 1996913 |
| California Municipal Finance Authority | 4.326% | <sup>#(a)</sup> | 11/20/2040 | BBB | 1107796 | 1049867 |
| California Municipal Finance Authority - CHF-Davis I LLC | 5.00% |  | 5/15/2037 | Baa3 | 1405000 | 1459205 |
| Idaho Housing & Finance Association (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2056 | Aa1 | 500000 | 572932 |
| Indiana Finance Authority - SFP-PUFW I LLC | 4.00% |  | 7/1/2034 | BBB- | 250000 | 255735 |
| Nebraska Investment Finance Authority (FHLMC), (FNMA), (GNMA) | 6.25% |  | 9/1/2055 | AAA | 1000000 | 1125298 |
| New Hampshire Business Finance Authority | 4.218% | <sup>#(a)</sup> | 11/20/2042 | BBB | 1448818 | 1381818 |
| New Hampshire Business Finance Authority | 4.375% |  | 9/20/2036 | BBB | 989647 | 1017290 |
| New Hampshire Business Finance Authority | &nbsp;&nbsp;4.75% | <sup>#(a)</sup> | 6/20/2041 | AA- | 1995687 | 2085715 |
| New Hampshire Business Finance Authority | 5.75% |  | 4/28/2042 | BBB | 646020 | 680910 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% |  | 12/15/2031 | NR | 750000 | 777454 |
| Oklahoma Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.50% |  | 3/1/2057 | Aaa | 3000000 | 3480015 |
| Pennsylvania Housing Finance Agency | 6.25% |  | 10/1/2055 | Aa1 | 3000000 | 3447367 |
| South Dakota Housing Development Authority (FHLMC), (FNMA), (GNMA)<sup>(c)</sup> | 6.00% |  | 11/1/2056 | AAA | 1500000 | 1715416 |
| Texas Department of Housing & Community Affairs (GNMA) | 6.25% |  | 1/1/2056 | AA+ | 2000000 | 2276060 |
| Washington State Housing Finance Commission | 3.50% |  | 12/20/2035 | BBB+ | 632280 | 620461 |
| *Total* |  |  |  |  |  | 24854294 |
| **Lease Obligations 1.22%** |  |  |  |  |  |  |
| New Jersey Economic Development Authority - State of New Jersey Motor Vehicle Surcharge Revenue | 4.00% |  | 7/1/2034 | Baa2 | 1715000 | 1724390 |
| Pennsylvania Economic Development Financing Authority - PA Bridges Finco LP | 5.00% |  | 6/30/2042 | BBB | 3105000 | 3108382 |
| *Total* |  |  |  |  |  | 4832772 |

---

*See Notes to Financial Statements.* 9

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue 4.00%** |  |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.50% |  | 5/1/2032 | Ba2 | $1450000 | $1575920 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 6.00% |  | 5/1/2042 | NR | 2000000 | 2055336 |
| Brooklyn Arena Local Development Corp. - Brooklyn Events Center LLC NY | 5.00% |  | 7/15/2042 | Ba1 | 3370000 | 3379127 |
| California School Finance Authority - Green Dot Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2048 | BBB- | 2025000 | 1999354 |
| Illinois Finance Authority - Field Museum of Natural History | 3.698%<br>(SOFR \* .70 + 1.15% |)<sup>#</sup> | 11/1/2034 | A | 1065000 | 1068406 |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% |  | 7/1/2046 | BB+ | 2000000 | 1913504 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.00% |  | 12/1/2034 | NR | 205000 | 217386 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.50% |  | 12/1/2044 | NR | 1500000 | 1527743 |
| Territory of Guam | 5.00% |  | 1/1/2036 | Baa3 | 1950000 | 2157637 |
| *Total* |  |  |  |  |  | 15894413 |
| **Pollution Control 0.28%** |  |  |  |  |  |  |
| Finance Authority of Maine - Casella Waste Systems Inc AMT<sup>†</sup> | 4.625% | <sup>#(a)</sup> | 12/1/2047 | B+ | 500000 | 517599 |
| Finance Authority of Maine - Casella Waste Systems Inc AMT<sup>†</sup> | 5.00% |  | 8/1/2035 | B+ | 550000 | 589429 |
| *Total* |  |  |  |  |  | 1107028 |
| **Special Tax 1.21%** |  |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2042 | NR | 385000 | 395998 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2042 | NR | 250000 | 254749 |
| American Samoa Economic Development Authority<sup>†</sup> | 5.00% |  | 9/1/2033 | Ba3 | 1000000 | 1069535 |
| City of North Las Vegas Special Improvement District No 67 Apex Moonwater West NV<sup>†</sup> | 6.50% |  | 6/1/2045 | NR | 1000000 | 1018515 |
| Industrial Development Authority of the City of St. Louis Missouri | 3.875% |  | 11/15/2029 | NR | 270000 | 261522 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.375% |  | 11/15/2035 | NR | 595000 | 559859 |

---

10 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 4.50% | 9/1/2028 | NR | $130000 | $131328 |
| West Villages Improvement District Unit of Development No. 7 FL | 4.25% | 5/1/2029 | NR | 410000 | 415460 |
| Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1 UT | 5.75% | 12/1/2044 | NR | 700000 | 718169 |
| *Total* |  |  |  |  | 4825135 |
| **Tax Revenue 4.69%** |  |  |  |  |  |
| City of Garden City - STAR Bond District KS<sup>†</sup> | 4.25% | 6/1/2033 | NR | 250000 | 251310 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax | 5.00% | 10/1/2032 | NR | 1000000 | 1065794 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Authority Military Recreation Facilities Project Area Tax Allocation UT<sup>†</sup> | 5.50% | 6/15/2039 | NR | 375000 | 387907 |
| Mida Mountain Village Public Infrastructure District Tax Allocation UT<sup>†</sup> | 5.25% | 6/1/2045 | NR | 875000 | 882404 |
| Military Installation Development Authority Military Recreation Facilities Project Area UT | 4.00% | 6/1/2041 | NR | 2965000 | 2767292 |
| Public Finance Authority - Southeast Overtown Park West Community Redevelopment Agency WI<sup>†</sup> | 5.00% | 6/1/2041 | NR | 2100000 | 2145757 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 4813000 | 4789952 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 2053000 | 2043169 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.50% | 7/1/2034 | NR | 4300000 | 4300677 |
| *Total* |  |  |  |  | 18634262 |
| **Tobacco 0.59%** |  |  |  |  |  |
| Nassau County Tobacco Settlement Corp. NY | 5.25% | 6/1/2026 | CC | 20114 | 17684 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2036 | NR | 1000000 | 563803 |
| Tobacco Settlement Financing Corp. VA | 5.00% | 6/1/2047 | B- | 2100000 | 1760937 |
| *Total* |  |  |  |  | 2342424 |

---

*See Notes to Financial Statements.* 11

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation 20.92%** |  |  |  |  |  |  |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% |  | 7/1/2042 | BBB+ | $1635000 | $1790953 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% |  | 6/30/2031 | BB+ <sup>(b)</sup> | 2125000 | 2206100 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% |  | 12/31/2035 | BB+ <sup>(b)</sup> | 50000 | 51423 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% |  | 12/31/2047 | BB+ <sup>(b)</sup> | 2500000 | 2498043 |
| Chicago O'Hare International Airport - TRIPS Obligated Group IL AMT | 5.00% |  | 7/1/2038 | BBB+ | 1050000 | 1075436 |
| City & County of Denver - United Airlines Inc CO AMT | 5.00% |  | 10/1/2032 | BB+ | 1000000 | 1001302 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.25% |  | 7/15/2034 | Ba2 | 1000000 | 1085724 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2035 | Ba2 | 500000 | 551025 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2036 | Ba2 | 1890000 | 2069728 |
| County of Miami-Dade Seaport Department FL AMT | 5.00% |  | 10/1/2047 | A3 | 1770000 | 1783294 |
| Eagle County Airport Terminal Corp. CO AMT | 5.00% |  | 5/1/2041 | Baa2 | 580000 | 583221 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | &nbsp;&nbsp;4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 4250000 | 4425152 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.00% |  | 12/31/2040 | Baa3 | 1500000 | 1553023 |
| New Jersey Economic Development Authority - DRP Urban Renewal 4 LLC AMT<sup>†</sup> | 6.375% |  | 1/1/2035 | NR | 1000000 | 1043315 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 4.00% |  | 1/1/2036 | Baa2 | 1140000 | 1139922 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 10/1/2040 | Baa2 | 1235000 | 1271918 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% |  | 4/1/2040 | Baa2 | 2400000 | 2549274 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% |  | 4/1/2035 | Baa2 | 1180000 | 1306293 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 2.50% |  | 10/31/2031 | BBB- <sup>(b)</sup> | 500000 | 451754 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC | 4.00% |  | 12/1/2040 | Baa1 | 2000000 | 1993035 |

---

12 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% |  | 12/1/2042 | Baa1 | $1350000 | $1278660 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2032 | Baa1 | 2450000 | 2726023 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2035 | Baa1 | 1650000 | 1800002 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2036 | Baa1 | 300000 | 324859 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2039 | Baa1 | 4645000 | 4942378 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2041 | Baa1 | 1000000 | 1055454 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 6.00% |  | 6/30/2040 | Baa3 | 1425000 | 1625751 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 6.00% |  | 6/30/2041 | Baa3 | 1250000 | 1419257 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 6.00% |  | 6/30/2054 | Baa3 | 2040000 | 2121497 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% |  | 7/1/2033 | Baa2 | 1835000 | 1835020 |
| New York Transportation Development Corp. - Laguardia Gateway Partners LLC (AG) AMT | 4.00% |  | 7/1/2031 | AA | 1000000 | 1000077 |
| New York Transportation Development Corp. - Laguardia Gateway Partners LLC AMT | 5.00% |  | 7/1/2041 | Baa2 | 2515000 | 2515435 |
| Pennsylvania Economic Development Financing Authority - PA Bridges Finco LP | 5.00% |  | 12/31/2034 | BBB | 2240000 | 2249522 |
| Public Finance Authority - Million Air Three Obligated Group WI AMT<sup>†</sup> | 5.50% |  | 9/1/2030 | NR | 200000 | 210779 |
| Public Finance Authority - Million Air Three Obligated Group WI AMT<sup>†</sup> | 5.75% |  | 9/1/2035 | NR | 250000 | 262480 |
| Public Finance Authority - Sky Harbour Capital III LLC Obligated Group WI AMT<sup>†(c)</sup> | &nbsp;&nbsp;6.00% | <sup>#(a)</sup> | 7/1/2060 | NR | 2500000 | 2501363 |

---

*See Notes to Financial Statements.* 13

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Texas Private Activity Bond Surface Transportation Corp. - LBJ Infrastructure Group LLC | &nbsp;&nbsp;4.00% |  | 6/30/2037 | Baa1 | $3985000 | $4019285 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.375% |  | 6/30/2037 | Baa1 | 1065000 | 1134596 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | &nbsp;&nbsp;5.50% |  | 6/30/2040 | Baa1 | 1900000 | 2015733 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | &nbsp;&nbsp;6.25% |  | 12/1/2035 | B+ | 1360000 | 1580178 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2040 | BBB | 2155000 | 2107674 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2041 | BBB | 2470000 | 2372845 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2042 | BBB | 1025000 | 965061 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | &nbsp;&nbsp;5.00% |  | 1/1/2033 | BBB | 1000000 | 1092837 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | &nbsp;&nbsp;5.00% |  | 1/1/2036 | BBB | 350000 | 375247 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | &nbsp;&nbsp;4.00% |  | 7/1/2033 | BBB | 1000000 | 1027661 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2036 | BBB | 4000000 | 4045518 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2038 | BBB | 2130000 | 2133225 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | &nbsp;&nbsp;4.00% |  | 1/1/2039 | BBB | 2000000 | 1989735 |
| *Total* |  |  |  |  |  | 83158087 |
| **Utilities 10.56%** |  |  |  |  |  |  |
| Black Belt Energy Gas District AL | &nbsp;&nbsp;4.00% | <sup>#(a)</sup> | 12/1/2052 | Baa1 | 1035000 | 1057710 |
| Black Belt Energy Gas District AL | &nbsp;&nbsp;5.00% |  | 10/1/2035 | A2 | 4000000 | 4174212 |
| Black Belt Energy Gas District AL<sup>†</sup> | &nbsp;&nbsp;5.50% | <sup>#(a)</sup> | 11/1/2056 | BBB- | 3365000 | 3617819 |
| California Community Choice Financing Authority | &nbsp;&nbsp;5.00% | <sup>#(a)</sup> | 10/1/2055 | A2 | 4000000 | 4209670 |

---

14 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP AMT<sup>†</sup> | &nbsp;&nbsp;5.00% |  | 7/1/2037 | Baa3 | $220000 | $220890 |
| Delaware State Economic Development Authority - NRG Energy Inc | &nbsp;&nbsp;4.00% | <sup>#(a)</sup> | 10/1/2045 | BBB- | 3580000 | 3649152 |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT | &nbsp;&nbsp;3.00% |  | 6/1/2032 | NR | 2000000 | 1864536 |
| Guam Government Waterworks Authority | &nbsp;&nbsp;5.00% |  | 7/1/2035 | A- | 610000 | 696506 |
| Guam Government Waterworks Authority | &nbsp;&nbsp;5.00% |  | 7/1/2036 | A- | 585000 | 656301 |
| Guam Government Waterworks Authority | &nbsp;&nbsp;5.00% |  | 7/1/2037 | A- | 820000 | 910270 |
| Main Street Energy, Inc. GA | &nbsp;&nbsp;5.00% |  | 12/1/2033 | A3 | 2500000 | 2700008 |
| Main Street Natural Gas, Inc. GA<sup>†</sup> | &nbsp;&nbsp;4.00% | <sup>#(a)</sup> | 8/1/2052 | BBB- | 2600000 | 2601029 |
| Main Street Natural Gas, Inc. GA | &nbsp;&nbsp;5.00% | <sup>#(a)</sup> | 5/1/2054 | A3 | 1160000 | 1229436 |
| Maricopa County Pollution Control Corp. - El Paso Electric Co AZ | &nbsp;&nbsp;3.60% |  | 2/1/2040 | Baa2 | 130000 | 123819 |
| Maricopa County Pollution Control Corp. - El Paso Electric Co AZ | &nbsp;&nbsp;3.60% |  | 4/1/2040 | Baa2 | 105000 | 99935 |
| Ohio Air Quality Development Authority - Ohio Valley Electric Corp | &nbsp;&nbsp;3.25% |  | 9/1/2029 | Baa3 | 1040000 | 1041684 |
| Pennsylvania Economic Development Financing Authority - Talen Energy Supply LLC | &nbsp;&nbsp;5.25% | <sup>#(a)</sup> | 12/1/2038 | B | 1100000 | 1105551 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | &nbsp;&nbsp;5.00% |  | 7/1/2033 | NR | 1000000 | 1051084 |
| Southeast Energy Authority A Cooperative District AL | &nbsp;&nbsp;5.00% |  | 11/1/2035 | Baa1 | 5155000 | 5492222 |
| Southeast Energy Authority A Cooperative District AL | &nbsp;&nbsp;5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 2775000 | 2891131 |
| Southeast Energy Authority A Cooperative District AL<sup>(d)</sup> | &nbsp;&nbsp;5.00% |  | 1/1/2056 | A1 | 1500000 | 1561961 |
| Tennessee Energy Acquisition Corp. | 5.625% |  | 9/1/2026 | BBB <sup>(b)</sup> | 1000000 | 1012881 |
| *Total* |  |  |  |  |  | 41967807 |
| *Total Municipal Bonds* (cost $387,295,908) |  |  |  |  |  | 395575149 |
| **WARRANTS 0.01%** |  |  |  |  |  |  |
| **Construction & Engineering 0.01%** |  |  |  |  |  |  |
| BL Train Holdings West LLC\* (cost $0) | 11.50% |  | 12/1/2035 | NR | 10512 | 26280 <sup>(e)</sup> |

---

*See Notes to Financial Statements.* 15

**Schedule of Investments (unaudited)(continued)**

*January 31, 2026*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br>Rate**<sup>#</sup> | **Interest<br> Rate<br> Reset<br> Date<sup>(f)</sup>** | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 0.95%** |  |  |  |  |  |  |
| **VARIABLE RATE DEMAND NOTES 0.66%** |  |  |  |  |  |  |
| **General Obligation 0.25%** |  |  |  |  |  |  |
| City of New York NY GO | 3.200% | 2/2/2026 | 10/1/2046 | AA | $1000000 | $1000000 |
| **Health Care 0.12%** |  |  |  |  |  |  |
| Maryland Health & Higher Educational Facilities Authority - Johns Hopkins Health System Obligated Group | 3.150% | 2/2/2026 | 6/1/2046 | AA+ | 500000 | 500000 |
| **Utilities 0.29%** |  |  |  |  |  |  |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.250% | 2/17/2026 | 6/15/2045 | AA+ | 1000000 | 1000000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.350% | 2/17/2026 | 6/15/2044 | AA+ | 140000 | 140000 |
| *Total* |  |  |  |  |  | 1140000 |
| *Total Variable Rate Demand Notes* (cost $2,640,000) | *Total Variable Rate Demand Notes* (cost $2,640,000) |  |  |  |  | 2640000 |
| **REPURCHASE AGREEMENTS 0.29%** |  |  |  |  |  |  |
| Repurchase Agreement dated 1/30/2026, 3.250% due 2/2/2026 with Fixed Income Clearing Corp. collateralized by $1,126,400 of U.S. Treasury Note at 4.500% due 4/15/2027; value: $1,153,566; proceeds: $1,131,187 <br> (cost $1,130,880) |  |  |  |  | 1130880 | 1130880 |
| *Total Short-Term Investments* (cost $3,770,880) |  |  |  |  |  | 3770880 |
| *Total Investments in Securities 100.48%* (cost $391,066,788) | *Total Investments in Securities 100.48%* (cost $391,066,788) |  |  |  |  | 399372309 |
| *Other Assets and Liabilities – Net (0.48)%* |  |  |  |  |  | (1907874) |
| *Net Assets 100.00%* |  |  |  |  |  | $397464435 |

---

---

| | |
|:---|:---|
| AG | AG Insured by–Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| COPS | Certificates of Participation. |
| CPI | Consumer Price Index: Rate fluctuates based on CPI. |
| FGIC | Insured by Financial Guaranty Insurance Company. |
| FHLMC | Insured by Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| NR | Not Rated. |

---

16 *See Notes to Financial Statements.*

**Schedule of Investments (unaudited)(concluded)**

*January 31, 2026*

---

| | |
|:---|:---|
| SIFMA | Insured by – Securities Industry and Financial Markets Association. |
| SOFR | Secured Overnight Financing Rate. |
| TRIPS | Tax Refund Intercept Programs. |
| YoY | Year on Year Inflation Rates. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at January 31, 2026. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2026, the total value of Rule 144A securities was $84,203,399, which represents 21.19% of net assets. |
| <sup>\*</sup> | Non-income producing security. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(c)</sup> | Securities purchased on a when-issued basis (See Note 2(h)). |
| <sup>(d)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note 2(e) to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(e)</sup> | Level 3 Investment as described in Note 2(a) in the Notes to Financial Statements. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. |
| <sup>(f)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |

---

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> | $– | $395575149 | $– | $395575149 |
| &nbsp;&nbsp;&nbsp;Warrants |  |  | 26280 | 26280 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes |  | 2640000 |  | 2640000 |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 1130880 | – | 1130880 |
| Total | $– | $399346029 | $26280 | $399372309 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust (See Note 2(e)).

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets. Management has determined not to provide a reconciliation and a summary of unobservable inputs as the balance of Level 3 investments was not considered to be material to the Fund's net assets at the beginning or end of the period.

*See Notes to Financial Statements.* 17

**Statement of Assets and Liabilities (unaudited)**

*January 31, 2026*

---

| | |
|:---|:---|
| **ASSETS:** | |
| Investments in securities, at cost | $391066788 |
| Investments in securities, at fair value | $399372309 |
| Cash | 116 |
| Receivables: |  |
| &nbsp;&nbsp;&nbsp;Interest | 3642691 |
| &nbsp;&nbsp;&nbsp;Capital shares sold | 990023 |
| &nbsp;&nbsp;&nbsp;From advisor (See Note 3) | 36439 |
| &nbsp;&nbsp;&nbsp;Investment securities sold | 20263 |
| Prepaid expenses | 90128 |
| **Total assets** | 404151969 |
| **LIABILITIES:** |  |
| Payables: |  |
| &nbsp;&nbsp;&nbsp;Investment securities purchased | 4209565 |
| &nbsp;&nbsp;&nbsp;Trust certificates (See Note 2(e)) | 750000 |
| &nbsp;&nbsp;&nbsp;Capital shares reacquired | 199339 |
| &nbsp;&nbsp;&nbsp;Interest expense and fees | 3079 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | 2000 |
| Distributions payable | 1503812 |
| Accrued expenses | 19739 |
| **Total liabilities** | 6687534 |
| **Commitments and contingent liabilities** | **–** |
| **NET ASSETS** | $397464435 |
| **COMPOSITION OF NET ASSETS:** |  |
| Paid-in capital | $389246316 |
| Total distributable earnings/(loss) | 8218119 |
| **Net Assets** | $397464435 |
| **Outstanding shares (unlimited number of authorized shares of beneficial interest):** | 38521572 |
| **Net asset value, offering and redemption price per share (Net assets divided by outstanding shares)** | $10.32 |

---

18 *See Notes to Financial Statements.*

**Statement of Operations (unaudited)**

*For the Six Months Ended January 31, 2026*

---

| | |
|:---|:---|
| **Investment income:** | |
| Interest and other | $7488867 |
| **Expenses:** |  |
| Registration | 57165 |
| Professional | 26064 |
| Interest expense and fees (See Note 2(e)) | 12906 |
| Reports to shareholders | 8834 |
| Shareholder servicing | 6762 |
| Directors' fees | 5251 |
| Custody | 2290 |
| Other | 6127 |
| Gross expenses | 125399 |
| &nbsp;&nbsp;&nbsp;Fees waived and expenses reimbursed (See Note 3) | (112493) |
| **Net expenses** | 12906 |
| **Net investment income** | 7475961 |
| **Net realized and unrealized gain/(loss):** |  |
| Net realized gain/(loss) on investments | (13453) |
| Net change in unrealized appreciation/(depreciation) on investments | 10040520 |
| **Net realized and unrealized gain/(loss)** | 10027067 |
| **Net Increase in Net Assets Resulting From Operations** | $17503028 |

---

*See Notes to Financial Statements.* 19

**Statements of Changes in Net Assets**

---

| | | |
|:---|:---|:---|
| **INCREASE IN NET ASSETS** | **For the<br> Six Months Ended<br> January 31, 2026<br> (unaudited)** | **For the<br> Year Ended<br> July 31, 2025** |
| **Operations:** |  |  |
| Net investment income | $7475961 | $2709186 |
| Net realized gain/(loss) | (13453) | (329613) |
| Net change in unrealized appreciation/(depreciation) | 10040520 | (1805995) |
| **Net increase in net assets resulting from operations** | 17503028 | 573578 |
| **Distributions to Shareholders:** |  |  |
| Distributions to shareholders: | (7286341) | (2642502) |
| **Capital share transactions (See Note 12):** |  |  |
| Net proceeds from sales of shares | 220628086 | 196977808 |
| Reinvestment of distributions |  | 262399 |
| Cost of shares reacquired | (21044140) | (12291751) |
| **Net increase in net assets resulting from capital share transactions** | 199583946 | 184948456 |
| **Net increase in net assets** | 209800633 | 182879532 |
| **NET ASSETS:** |  |  |
| Beginning of period | $187663802 | $4784270 |
| **End of period** | $397464435 | $187663802 |

---

20 *See Notes to Financial Statements.*

This page is intentionally left blank.

**Financial Highlights**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br> to<br> shareholders<br> from:** |
|  |<br>**Net asset<br> value,<br> beginning<br> of period** | **Net<br> investment<br> income**<sup>(a)</sup> | **Net<br>realized and<br> unrealized<br> gain (loss)** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** |
| 1/31/2026<sup>(b)</sup> | $9.96 | $0.24 | $0.36 | $0.60 | $(0.24)&nbsp;&nbsp;&nbsp;&nbsp; |
| 7/31/2025 | 10.18 | 0.47 | (0.25) | 0.22 | (0.44) |
| 4/9/2024 to 7/31/2024<sup>(e)</sup> | 10.00 | 0.13 | 0.18 | 0.31 | (0.13) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Unaudited.

<sup>(c)</sup> Not annualized.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Commencement of operations was on 4/9/2024, SEC effective date and date shares first became available to the public was 4/15/2024.

<sup>(f)</sup> Total return for the period 4/15/2024 through 7/31/2024 was 2.78%.

22 *See Notes to Financial Statements.*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net asset<br> value,<br> end of<br> period** | <br>**Total<br> return<br> (%)** | **Total<br> expenses<br>after waivers<br> and/or<br> reimburse-<br> ments<br> (includes<br> interest<br> expense)<br> (%)** | **Total<br> expenses<br>after waivers<br> and/or<br> reimburse-<br> ments<br> (excludes<br> interest<br> expense)<br> (%)** | **Total<br> expenses<br> (%)** | **Net<br> investment<br> income<br> (%)** | **Net assets,<br> end of<br> period<br> (000)** | **Portfolio<br> turnover<br> rate<br> (%)** |
| $10.32 | 6.03 <sup>(c)</sup> | 0.01 <sup>(d)</sup> | 0.00 <sup>(d)</sup> | 0.08 <sup>(d)</sup> | 4.70 <sup>(d)</sup> | $397464 | 35 |
| 9.96 | 2.21 | 0.01 | 0.00 | 0.19 | 4.66 | 187664 | 21 |
| 10.18 | 3.09 <sup>(c)(f)</sup> | – <sup>(d)</sup> | – <sup>(d)</sup> | 3.40 <sup>(d)</sup> | 4.27 <sup>(d)</sup> | 4784 | 24 <sup>(c)</sup> |

---

*See Notes to Financial Statements.* 23

**Notes to Financial Statements (unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;**1.** ORGANIZATION

Lord Abbett Trust I (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company and was organized as a Delaware statutory trust on May 1, 2001. The Trust consists of eight funds as of January 31, 2026. This report covers Lord Abbett Diversification Shares: Enhanced Municipal Yield Completion Fund (the "Fund"). The Fund is diversified within the meaning of the 1940 Act. The Fund commenced operations on April 9, 2024.

Shares of the Fund may be purchased only by or on behalf of separately managed account clients. Lord, Abbett & Co. LLC ("Lord Abbett") has an agreement with the managed account program sponsor, or directly with the client, to provide advisory and administrative and other similar services for compensation to the managed account.

The Fund's investment objective is to seek a high level of income exempt from U.S. federal income tax.

**Basis of Preparation**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification *Topic 946 Financial Services – Investment Companies*. The preparation of the financial statements in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP") requires management to make certain estimates and assumptions that affect 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 increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Segment Reporting**

An operating segment is defined in FASB Accounting Standards Update ("ASU") 2023-07, *Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures* ("ASU 2023-07") as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The CODM for the Fund is Lord Abbett through its Management, Investment and Operating Committees, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment based on the fact that the CODM monitors the operating results of the Fund as a whole and that long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's Schedule of Investments, Statement of Assets and Liabilities, Statement of Operations, Statements of Changes in Net Assets and Financial Highlights.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** SIGNIFICANT ACCOUNTING POLICIES

&nbsp;&nbsp;&nbsp;&nbsp;(a) **Investment Valuation** –Under
procedures approved by the Fund's Board of Trustees (the "Board"), the Board has designated the determination
of fair value of the Fund's portfolio investments to Lord Abbett as its valuation designee. Accordingly, Lord Abbett is responsible
for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and
evaluating pricing services. Lord Abbett has formed a

**Notes to Financial Statements (unaudited)(continued)**

---

| |
|:---|
| pricing committee (the "Pricing Committee") that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value. |
| Securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services' own electronic data processing techniques. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. |
| Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transaction, market multiples, book values, yield curves broker quotes observable trading activity option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee. |
| Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. |
| **Fair Value Measurements**–Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk – for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |

---

---

| | | |
|:---|:---|:---|
| • | Level 1 – | unadjusted quoted prices in active markets for identical investments; |
| • | Level 2 – | other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and |
| • | Level 3 – | significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). |

---

**Notes to Financial Statements (unaudited)(continued)**

---

| | |
|:---|:---|
|  | A summary of inputs used in valuing the Fund's investments as of January 31, 2026 and, if applicable, Level 3 rollforwards for the six months then ended is included in the Fund's Schedule of Investments. |
|  | Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |
| (b) | **Expenses**–Expenses incurred by the Trust that do not specifically relate to an individual fund are generally allocated to the funds within the Trust on a pro rata basis by relative net assets. |
| (c) | **Income Taxes**–It is the policy of the Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required. |
|  | Management has reviewed the Fund's tax positions for all open tax years and has determined that as of January 31, 2026, no liability for Federal Income tax is required in the Fund's financial statements for net unrecognized tax benefits. However, management's conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. The Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The Fund's Federal tax returns for the prior fiscal years remain subject to examination by the Internal Revenue Service. The statutes of limitations on the Fund's state and local tax returns may remain open for an additional year depending upon the Fund's jurisdiction. |
| (d) | **Investment Income**–Dividend income, if any, is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statement of Operations. |
| (e) | **Municipal Bonds Held in Trust**–The Fund may invest in leveraged residual certificates ("TOB Residuals") issued by tender option bond trusts ("TOBs"). A TOB is established by a third party sponsor forming a special purpose entity into which the Fund, or an agent on behalf of the Fund, transfers municipal securities. A TOB typically issues two classes of beneficial interests: short-term floating rate certificates (trust certificates), which are sold to third party investors, and residual certificates, which are generally issued to the Fund which made the transfer or to affiliates of the Fund. The Fund's transfer of the municipal securities to a TOB is accounted for as a secured borrowing, therefore the municipal securities deposited into a TOB are presented as investments in the Fund's Schedule of Investments and the proceeds from the transactions are reported as a liability for trust certificates on the Statements of Assets and Liabilities. Similarly, proceeds from residual certificates issued to affiliates, if any, from the transaction are included in the liability for trust certificates. Interest income from the underlying security is recorded by the Fund on an accrual basis. Interest expense incurred on the secured borrowing and other expenses related to remarketing, administration and trustee services to a TOB are reported as expenses of the Fund. The floating rate certificates have interest rates that generally reset weekly and their holders have the option to tender certificates to the TOB for redemption at par at each reset date. The residual interests held by the Fund include the right of the Fund (1) to cause the holders of a proportional share of floating rate certificates to tender their certificates at par and (2) to transfer a corresponding share of the municipal securities from the TOB to the Fund. The TOB may also be terminated without the consent of the Fund upon the occurrence of certain events as defined in |

---

**Notes to Financial Statements (unaudited)(continued)**

---

| |
|:---|
| the TOB agreements. Such termination events may include the bankruptcy or default of the municipal bond, a substantial downgrade in credit quality of the municipal bond, the inability of the TOB to obtain quarterly or annual renewal of the liquidity support agreement, a substantial decline in market value of the municipal bond or the inability to remarket the short-term floating rate certificates to third party investors. |
| The following is a summary of the Fund's liability for trust certificates, the range of interest rates for such certificates and the aggregate value of the underlying municipal securities transferred to TOBs as of January 31, 2026, as well as the average trust certificates for the six months ended January 31, 2026: |

---

---

| | | | |
|:---|:---|:---|:---|
| Liability<br> for Trust<br> Certificates | Interest Rate<br> or Range of<br> Interest Rates | Underlying<br> Municipal Bonds<br> Transferred<br> to TOBs | Average<br> Trust<br> Certificates<br> Outstanding |
| $750000 | 3.3% | $1561961 | $750000 |

---

---

| | |
|:---|:---|
|  | Financial transactions executed through TOBs generally will underperform the market for fixed rate municipal bonds in a rising interest rate environment, but tend to outperform the market for fixed rate municipal bonds when interest rates decline or remain relatively stable. Should short-term interest rates rise, the Fund's investment in TOB Residuals likely will adversely affect the Fund's net investment income and distributions to shareholders. Fluctuations in the market value of municipal securities deposited into the TOB may adversely affect the Fund's net asset value ("NAV") per share. The carrying value of the Fund's liability for Trust certificates approximates its fair value. |
|  | While the Fund's investment policies and restrictions expressly permit investments in inverse floating rate securities such as TOB Residuals, they generally do not allow the Fund to borrow money for purposes of making investments. The Fund's management believes that the Fund's restrictions on borrowings do not apply to TOB transactions accounted for as secured borrowings. |
| (f) | **Repurchase Agreements**–The Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. The Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, the Fund may incur a loss upon disposition of the securities. |
|  | Due to the absence of a master netting agreement related to the Fund's participation in repurchase agreements, no offsetting disclosures have been made on behalf of the Fund. |
| (g) | **Security Transactions**–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. |
| (h) | **When-Issued Municipal Bonds**–The Fund may purchase new issues of municipal bonds, which are generally offered on a when-issued basis. Payment and delivery may take place after customary settlement period for that security. |

---

**Notes to Financial Statements (unaudited)(continued)**

&nbsp;&nbsp;&nbsp;&nbsp;**3.** MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES

**Management Fee**

The Fund does not pay a management fee to Lord Abbett under the management fee agreement between the Trust and Lord Abbett.

For the six months ended January 31, 2026, Lord Abbett has contractually agreed to waive all fees and to bear and/or reimburse all expenses of the Fund, but excluding acquired fund fees and expenses, brokerage fees and commissions and other portfolio transaction expenses, investment-related expenses including, but not limited to costs of borrowing money and other leveraging methods, interest-related expenses, taxes, governmental fees, expenses related to litigation and potential litigation, and extraordinary expenses. This agreement will continue in effect, unless sooner terminated by the Trust's Board, for so long as Lord Abbett serves as the investment adviser to the Fund pursuant to the management agreement between the Trust and Lord Abbett.

One Trustee and certain of the Trust's officers have an interest in Lord Abbett.

&nbsp;&nbsp;&nbsp;&nbsp;**4.** DISTRIBUTIONS AND TAX INFORMATION

Dividends are paid from net investment income, if any. Capital gain distributions are paid from taxable net realized gains from investments transactions, reduced by allowable capital loss carryforwards, if any. The capital loss carryforward amount, if any, is available to offset future net capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for tax purposes, are reported as a tax return of capital.

The tax character of distributions paid during the six months ended January 31, 2026 was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Tax-Exempt<br>Income** | **Ordinary<br>Income** | **Net<br>Long-Term<br> Capital Gains** | **Return of<br>Capital** | **Total<br>Distributions<br> Paid** |
| LADS: Enhanced Municipal Yield Completion Fund | $7286341 | $– | $– | $– | $7286341 |
| The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: | The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: | The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: | The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: | The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: | The tax character of distributions paid during the fiscal year ended July 31, 2025 was as follows: |
| **Fund** | **Tax-Exempt<br>Income** | **Ordinary<br>Income** | **Net<br>Long-Term<br>Capital Gains** | **Return of<br>Capital** | **Total<br>Distributions<br>Paid** |
| LADS: Enhanced Municipal Yield Completion Fund | $2580639 | $61863 | $– | $– | $2642502 |

---

Net capital losses recognized by the Fund may be carried forward indefinitely and retain their character as short-term and/or long-term losses. Capital losses incurred that will be carried forward are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Short-Term<br>Losses** | **Long-Term<br>Losses** | **Net Capital<br>Losses** |
| LADS: Enhanced Municipal Yield Completion Fund | $(311976) | $(10042) | $(322018) |

---

**Notes to Financial Statements (unaudited)(continued)**

As of January 31, 2026, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for the Fund are shown below. The difference between book-basis and tax-basis unrealized appreciation/(depreciation) is attributable to the tax treatment of premium amortization and wash sales.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Cost of<br>Investments** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>Depreciation** | **Net<br>Unrealized<br>Appreciation/<br>(Depreciation)** |
| LADS: Enhanced Municipal Yield Completion Fund | $391009843 | $9027597 | $(665131) | $8362466 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**5.** PORTFOLIO SECURITIES TRANSACTIONS

Purchases and sales of investment securities (excluding short-term investments) for the six months ended January 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **U.S.<br> Government<br> Purchases** | **Non-U.S.<br> Government<br> Purchases** | **U.S.<br> Government<br> Sales** | **Non-U.S.<br> Government<br> Sales** |
| $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – | $308684073 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – | $110244508 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**6.** TRUSTEES' REMUNERATION

The Trust's officers and one Trustee, who are associated with Lord Abbett, do not receive any compensation from the Trust for serving in such capacities. Independent Trustees' fees are allocated among all Lord Abbett-sponsored funds primarily based on the relative net assets of each fund. There is an equity-based plan available to all Independent Trustees under which Independent Trustees may elect to defer receipt of a portion of Trustees' fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Fund. Such amounts and earnings accrued thereon are included in Trustees' fees in the Statements of Operations and in Trustees' fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

&nbsp;&nbsp;&nbsp;&nbsp;**7.** LINE OF CREDIT

For the period ended January 31, 2026, the Fund and certain other funds managed by Lord Abbett (collectively, the "Participating Funds") were party to a syndicated line of credit facility with various lenders for $1.675 billion (the "Syndicated Facility") under which State Street Bank and Trust Company ("SSB") participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million, $300 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended January 31, 2026, the Participating Funds were also party to an additional uncommitted line of credit facility with SSB for $330 million (the "Bilateral Facility"). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million based on past borrowings and likelihood of future borrowings, among other factors.

Interest associated with these credit facilities is charged to the Fund based on its borrowings generally at an amount above the Federal Funds rate or at the negotiated rate for swing line loans. In addition, a fee computed at an annual rate of 0.20% on the daily unused portion of the

**Notes to Financial Statements (unaudited)(continued)**

Syndicated Facility which is allocated among the Participating Funds at the end of each quarter. There is no fee associated with the unused portion of the Bilateral Facility.

These credit facilities are to be used for short-term working capital purposes as additional sources of liquidity to satisfy redemptions.

For the six months ended January 31, 2026, the Fund did not utilize the Syndicated Facility or Bilateral Facility.

&nbsp;&nbsp;&nbsp;&nbsp;**8.** INTERFUND LENDING PROGRAM

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission ("SEC exemptive order") certain registered open-end management investment companies managed by Lord Abbett, including the Fund, participate in a joint lending and borrowing program (the "Interfund Lending Program"). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

During the six months ended January 31, 2026, the Fund did not participate as a borrower or lender in the Interfund Lending Program.

&nbsp;&nbsp;&nbsp;&nbsp;**9.** CUSTODIAN AND ACCOUNTING AGENT

SSB is the Fund's custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating the Fund's NAV.

&nbsp;&nbsp;&nbsp;&nbsp;**10.** SECURITIES LENDING AGREEMENT

The Fund has established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Fund's securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Fund on the next business day. As with other extensions of credit, the Fund may experience a delay in the recovery of its securities or incur a loss should the borrower of the securities breach its agreement with the Fund or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income, if any, in the Fund's Statement of Operations.

The initial collateral received by the Fund is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Fund will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Fund continues to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of January 31, 2026, the Fund did not have any securities on loan.

**Notes to Financial Statements (unaudited)(continued)**

&nbsp;&nbsp;&nbsp;&nbsp;**11.** INVESTMENT RISKS

The Fund's performance and the fair value of its investments will vary in response to changes in interest rates and other market factors. As interest rates rise, the Fund's investments typically will lose value. This risk is usually greater for long-term bonds and particularly for TOB Residuals. As a result, the Fund, to the extent it invests in long-term bonds and TOB Residuals, is subject to such greater market risk. During periods of falling interest rates, the Fund's investments may gain value.

There is the risk that an issuer of a municipal bond may fail to make timely payments of principal or interest to the Fund, a risk that is greater with municipal bonds rated below investment grade (sometimes called "lower rated bonds" or "junk bonds"). Some issuers, particularly of junk bonds, may default as to principal and/or interest payments after the Fund purchases their securities. A default, or concerns in the market about an increase in risk of default or the deterioration in the creditworthiness of an issuer, may result in losses to the Fund. Junk bonds are considered predominantly speculative by traditional investment standards. In addition, the market for lower rated municipal bonds generally is less liquid and more volatile than the market for higher rated bonds, subjecting them to greater price fluctuations which could result in losses.

The Fund may invest in private activity bonds (sometimes called "AMT paper"). The credit quality of AMT paper usually is directly related to the credit standing of the private user of the facilities.

The Fund may invest in TOB Residuals. A TOB Residual, sometimes referred to as an inverse floater or a residual interest bond, is a type of derivative debt instrument with a floating or variable interest rate that moves in the opposite direction of the interest rate on another specific fixed-rate security. Changes in 16the interest rate on the specific fixed-rate security inversely affect the residual interest paid on the TOB Residual, with the result that when interest rates rise, TOB Residuals' interest payments are lowered and their value falls faster than securities similar to the specific fixed-rate security. When interest rates fall, not only do TOB Residuals generally provide interest payments that are higher than securities similar to the specific fixed-rate security, but their values generally also rise faster than such similar securities.

The Fund may purchase securities on a forward commitment or when-issued basis. Delivery and payment for such securities can take place a month or more after the transaction date. During this period such securities are subject to market fluctuations.

Geopolitical and other events, such as war, acts of terrorism, tariffs and other restrictions on trade, natural disasters, the spread of infectious illnesses, epidemics and pandemics, environmental and other public health issues, supply chain disruptions, inflation, recessions or other events, and governments' reactions to such events, may lead to increased market volatility and instability in world economies and markets generally and may have adverse effects on the performance of the Fund and its investments.

A widespread health crisis, such as a global pandemic, could cause substantial market volatility, impact the ability to complete redemptions, and adversely impact Fund performance. For example, the effects to public health, business and market conditions resulting from the COVID-19 pandemic have had, and may in the future have, a significant negative impact on the performance of the Fund's investments, including exacerbating other pre-existing political, social and economic risks. In addition, the increasing interconnectedness of markets around the world may result in many markets being affected by events or conditions in a single country or region or events affecting a single or small number of issuers.

**Notes to Financial Statements (unaudited)(concluded)**

It is difficult to accurately predict or foresee when events or conditions affecting the U.S. or global financial markets, economies, and issuers may occur, the effects of such events or conditions, potential escalations or expansions of these events, possible retaliations in response to sanctions or similar actions and the duration or ultimate impact of those events. The foregoing could disrupt the operations of the Fund and its service providers, adversely affect the value and liquidity of the Fund's investments and negatively impact the Fund's performance and your investment in the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;**12.** SUMMARY OF CAPITAL TRANSACTIONS

Transactions in shares of beneficial interest were as follows:

---

| | | |
|:---|:---|:---|
| | **Six Months Ended<br>January 31, 2026<br>(unaudited)** | **Year Ended<br>July 31, 2025** |
| Shares sold | 21732003 | 19577473 |
| Reinvestment of distributions |  | 25693 |
| Shares reacquired | (2058174) | (1225282) |
| Increase | 19673829 | 18377884 |

---

**Changes in and Disagreements with Accountants**

There were no changes in or disagreements with accountants during the period.

**Proxy Disclosures**

There were no matters submitted to a vote of shareholders during the period.

**Remuneration Paid to Trustees, Officers, and Others**

Remuneration paid to trustees, officers, and others is included in "Trustees' Remuneration" under Item 7 of this Form N-CSR.

![](x5_c115321x36x1m4.jpg)

![](x5_c115321x36x2m4.jpg)

---

| | | |
|:---|:---|:---|
| This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus. | Lord Abbett Trust I |  |
| Lord Abbett mutual fund shares are distributed by<br> LORD ABBETT DISTRIBUTOR LLC. | Diversification Shares – Enhanced Municipal Yield Completion Fund | EMC-3<br> (03/26) |

---

---

| | |
|:---|:---|
| 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.** <br> Not applicable. |
| Item 16: | Controls and Procedures. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The principal executive officer and principal financial & accounting officer have concluded as of a date within 90 days of the filing date of this report, based on their evaluation of the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), that the design of such procedures is effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Item 17: | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
|  | Not applicable. |
| Item 18: | Recovery of Erroneously Awarded Compensation. |
|  | Not applicable. |
| Item 19: | Exhibits. |

---

---

| | |
|:---|:---|
| (a)(1) | Code of Ethics. Not applicable. |
| (a)(2) | Not applicable. |
| (a)(3) | [Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 is attached hereto as a part of EX-99.CERT.](c115322_ex99cert.htm) |
| (a)(4) | Not applicable. |
| (a)(5) | Not applicable. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 is provided as a part of EX-99.906CERT.](c115322_ex99-906cert.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.

---

| | | |
|:---|:---|:---|
| **LORD ABBETT TRUST I** | **LORD ABBETT TRUST I** | **LORD ABBETT TRUST I** |
|  | By: | /s/ Douglas B. Sieg |
|  |  | Douglas B. Sieg |
|  |  | President and Chief Executive Officer |
|  |  | (Principal Executive Officer) |
| Date: March 27, 2026 |  |  |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Douglas B. Sieg |
|  |  | Douglas B. Sieg |
|  |  | President and Chief Executive Officer |
|  |  | (Principal Executive Officer) |
| Date: March 27, 2026 |  |  |

---

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Michael J. Hebert |
|  |  | Michael J. Hebert |
|  |  | Chief Financial Officer and Treasurer |
|  |  | (Principal Financial Officer) |
| Date: March 27, 2026 |  |  |

---

## Ex-99.Cert

EX-99.CERT

CERTIFICATIONS

Pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

I, Douglas B. Sieg, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Lord Abbett Trust I;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting
(as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee
of the Registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&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: March 27, 2026 |  |
|  | <u>/s/ Douglas B. Sieg</u> |
|  | Douglas B. Sieg |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

EX-99.CERT

CERTIFICATIONS

Pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

I, Michael J. Hebert, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Lord Abbett Trust I;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting
(as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee
of the Registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&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: March 27, 2026 |  |
|  | <u>/s/ Michael J. Hebert</u> |
|  | Michael J. Hebert |
|  | Chief Financial Officer and Treasurer |
|  | (Principal Financial Officer) |

---

## Exhibit 99.906

EX-99.906CERT

CERTIFICATIONS

Pursuant to Section 906 of the

Sarbanes-Oxley Act of 2002

Each of the undersigned below certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This report on Form N-CSR of Lord Abbett Trust I (the "Report") fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the issuer.

---

| | | |
|:---|:---|:---|
| Date: March 27, 2026 |  |  |
|  | By: | <u>/s/ Douglas B. Sieg</u> |
|  |  | Douglas B. Sieg |
|  |  | President and Chief Executive Officer |
|  |  | (Principal Executive Officer) |
|  | By: | <u>/s/ Michael J. Hebert</u> |
|  |  | Michael J. Hebert |
|  |  | Chief Financial Officer and Treasurer |
|  |  | (Principal Financial Officer) |

---

A SIGNED ORIGINAL OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906, OR OTHER DOCUMENT AUTHENTICATING, ACKNOWLEDGING, OR OTHERWISE ADOPTING THE SIGNATURE THAT APPEARS 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 SECURITIES AND EXCHANGE COMMISSION OR ITS STAFF UPON REQUEST.