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 811-22167
Virtus Strategy Trust
(Exact name of registrant as specified in charter)
101 Munson Street
Greenfield, MA 01301-9668
(Address of principal executive offices) (Zip code)
Jennifer Fromm, Esq.
Vice President, Chief Legal Officer, Counsel and Secretary for Registrant
One Financial Plaza
Hartford, CT 06103-2608
(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 243-1574
Date of fiscal year end: September 30
Date of reporting period: September 30, 2021
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
(a) The Report to Shareholders is attached herewith.
(b) Not applicable.
Virtus AllianzGI Convertible Fund* |
Virtus AllianzGI Core Plus Bond Fund |
Virtus AllianzGI Emerging Markets Consumer Fund* |
Virtus AllianzGI Global Allocation Fund* |
Virtus AllianzGI Global Dynamic Allocation Fund* |
Virtus AllianzGI Global Sustainability Fund |
Virtus AllianzGI High Yield Bond Fund* |
Virtus AllianzGI International Small-Cap Fund* |
Virtus AllianzGI Preferred Securities and Income Fund |
Virtus AllianzGI Short Duration High Income Fund* |
Virtus AllianzGI Water Fund* |
Virtus NFJ Emerging Markets Value Fund* |
1 | ||
2 | ||
6 | ||
Fund | Fund Summary | Schedule of Investments |
10 | 44 | |
12 | 48 | |
15 | 53 | |
18 | 55 | |
22 | 66 | |
26 | 80 | |
29 | 82 | |
31 | 87 | |
34 | 89 | |
37 | 92 | |
39 | 96 | |
42 | 98 | |
101 | ||
107 | ||
112 | ||
116 | ||
126 | ||
154 | ||
155 | ||
156 | ||
157 |
President, Virtus Funds
Beginning Account Value April 1, 2021 | Ending Account Value September 30, 2021 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
AllianzGI Convertible Fund | ||||||||
Class A | $ 1,000.00 | $ 1,027.80 | 0.96 % | $ 4.88 | ||||
Class C | 1,000.00 | 1,024.10 | 1.73 | 8.78 | ||||
Class P | 1,000.00 | 1,029.20 | 0.71 | 3.61 | ||||
Institutional Class | 1,000.00 | 1,029.30 | 0.71 | 3.61 | ||||
Administrative Class | 1,000.00 | 1,028.10 | 0.93 | 4.73 | ||||
AllianzGI Core Plus Bond Fund | ||||||||
Class P | 1,000.00 | 1,024.70 | 0.36 | 1.83 | ||||
Institutional Class | 1,000.00 | 1,025.10 | 0.32 | 1.62 | ||||
Class R6 | 1,000.00 | 1,024.90 | 0.26 | 1.32 | ||||
AllianzGI Emerging Markets Consumer Fund | ||||||||
Class A | 1,000.00 | 914.80 | 1.39 | 6.67 | ||||
Institutional Class | 1,000.00 | 916.70 | 1.04 | 5.00 | ||||
AllianzGI Global Allocation Fund | ||||||||
Class A | 1,000.00 | 1,048.90 | 0.52 | 2.67 | ||||
Class C | 1,000.00 | 1,044.80 | 1.27 | 6.51 | ||||
Class P | 1,000.00 | 1,049.80 | 0.32 | 1.64 | ||||
Institutional Class | 1,000.00 | 1,050.30 | 0.29 | 1.49 | ||||
Class R6 | 1,000.00 | 1,050.40 | 0.22 | 1.13 | ||||
Administrative Class | 1,000.00 | 1,062.90 | 0.41 | 2.12 | ||||
AllianzGI Global Dynamic Allocation Fund | ||||||||
Class A | 1,000.00 | 1,071.20 | 0.82 | 4.26 | ||||
Class C | 1,000.00 | 1,067.20 | 1.58 | 8.19 | ||||
Class P | 1,000.00 | 1,071.80 | 0.66 | 3.43 | ||||
Institutional Class | 1,000.00 | 1,072.70 | 0.54 | 2.81 | ||||
Class R6 | 1,000.00 | 1,073.00 | 0.54 | 2.81 | ||||
Administrative Class | 1,000.00 | 1,071.50 | 0.79 | 4.10 | ||||
AllianzGI Global Sustainability Fund | ||||||||
Class A | 1,000.00 | 1,104.90 | 0.94 | 4.96 | ||||
Class P | 1,000.00 | 1,105.80 | 0.79 | 4.17 | ||||
Institutional Class | 1,000.00 | 1,106.50 | 0.69 | 3.64 |
Beginning Account Value April 1, 2021 | Ending Account Value September 30, 2021 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
AllianzGI High Yield Bond Fund | ||||||||
Class A | $1,000.00 | $1,040.60 | 1.07% | $ 5.47 | ||||
Class C | 1,000.00 | 1,036.90 | 1.81 | 9.24 | ||||
Class P | 1,000.00 | 1,042.50 | 0.80 | 4.10 | ||||
Institutional | 1,000.00 | 1,042.70 | 0.83 | 4.25 | ||||
Administrative Class | 1,000.00 | 1,063.30 | 0.97 | 5.02 | ||||
AllianzGI International Small-Cap Fund | ||||||||
Class A | 1,000.00 | 1,014.50 | 1.25 | 6.31 | ||||
Class C | 1,000.00 | 1,010.60 | 2.00 | 10.08 | ||||
Class P | 1,000.00 | 1,015.30 | 1.10 | 5.56 | ||||
Institutional Class | 1,000.00 | 1,015.30 | 1.04 | 5.25 | ||||
Class R6 | 1,000.00 | 1,015.60 | 1.00 | 5.05 | ||||
AllianzGI Preferred Securities and Income Fund | ||||||||
Class P | 1,000.00 | 1,071.20 | 0.59 | 3.06 | ||||
Institutional Class | 1,000.00 | 1,071.90 | 0.55 | 2.86 | ||||
Class R6 | 1,000.00 | 1,072.00 | 0.50 | 2.60 | ||||
AllianzGI Short Duration High Income Fund | ||||||||
Class A | 1,000.00 | 1,012.30 | 0.86 | 4.34 | ||||
Class C | 1,000.00 | 1,011.00 | 1.11 | 5.60 | ||||
Class P | 1,000.00 | 1,013.70 | 0.68 | 3.43 | ||||
Institutional Class | 1,000.00 | 1,014.30 | 0.60 | 3.03 | ||||
Class R6 | 1,000.00 | 1,014.50 | 0.55 | 2.78 | ||||
AllianzGI Water Fund | ||||||||
Class A | 1,000.00 | 1,089.80 | 1.22 | 6.39 | ||||
Class C | 1,000.00 | 1,085.60 | 1.97 | 10.30 | ||||
Class P | 1,000.00 | 1,091.00 | 0.94 | 4.93 | ||||
Institutional Class | 1,000.00 | 1,091.00 | 0.93 | 4.87 | ||||
NFJ Emerging Markets Value Fund | ||||||||
Class A | 1,000.00 | 973.90 | 1.14 | 5.64 | ||||
Class C | 1,000.00 | 970.30 | 1.89 | 9.34 | ||||
Class P | 1,000.00 | 974.80 | 0.99 | 4.90 | ||||
Institutional Class | 1,000.00 | 975.10 | 0.89 | 4.41 |
* | Expenses are equal to the relevant Fund’s annualized expense ratio, which is net of waived fees and reimbursed expenses, if applicable, multiplied by the average account value over the period, multiplied by the number of days (183) expenses were accrued in the most recent fiscal half-year, then divided by 365 to reflect the one-half year period. |
Beginning Account Value April 1, 2021 | Ending Account Value September 30, 2021 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
AllianzGI Convertible Fund | ||||||||
Class A | $ 1,000.00 | $ 1,020.26 | 0.96 % | $ 4.86 | ||||
Class C | 1,000.00 | 1,016.39 | 1.73 | 8.74 | ||||
Class P | 1,000.00 | 1,021.51 | 0.71 | 3.60 | ||||
Institutional Class | 1,000.00 | 1,021.51 | 0.71 | 3.60 | ||||
Administrative Class | 1,000.00 | 1,020.41 | 0.93 | 4.71 | ||||
AllianzGI Core Plus Bond Fund | ||||||||
Class P | 1,000.00 | 1,023.26 | 0.36 | 1.83 | ||||
Institutional Class | 1,000.00 | 1,023.46 | 0.32 | 1.62 | ||||
Class R6 | 1,000.00 | 1,023.76 | 0.26 | 1.32 | ||||
AllianzGI Emerging Markets Consumer Fund | ||||||||
Class A | 1,000.00 | 1,018.10 | 1.39 | 7.03 | ||||
Institutional Class | 1,000.00 | 1,019.85 | 1.04 | 5.27 | ||||
AllianzGI Global Allocation Fund | ||||||||
Class A | 1,000.00 | 1,022.46 | 0.52 | 2.64 | ||||
Class C | 1,000.00 | 1,018.70 | 1.27 | 6.43 | ||||
Class P | 1,000.00 | 1,023.46 | 0.32 | 1.62 | ||||
Institutional Class | 1,000.00 | 1,023.61 | 0.29 | 1.47 | ||||
Class R6 | 1,000.00 | 1,023.97 | 0.22 | 1.12 | ||||
Administrative Class | 1,000.00 | 1,023.01 | 0.41 | 2.08 | ||||
AllianzGI Global Dynamic Allocation Fund | ||||||||
Class A | 1,000.00 | 1,020.96 | 0.82 | 4.15 | ||||
Class C | 1,000.00 | 1,017.15 | 1.58 | 7.99 | ||||
Class P | 1,000.00 | 1,021.76 | 0.66 | 3.35 | ||||
Institutional Class | 1,000.00 | 1,022.36 | 0.54 | 2.74 | ||||
Class R6 | 1,000.00 | 1,022.36 | 0.54 | 2.74 | ||||
Administrative Class | 1,000.00 | 1,021.11 | 0.79 | 4.00 | ||||
AllianzGI Global Sustainability Fund | ||||||||
Class A | 1,000.00 | 1,020.36 | 0.94 | 4.76 | ||||
Class P | 1,000.00 | 1,021.11 | 0.79 | 4.00 | ||||
Institutional Class | 1,000.00 | 1,021.61 | 0.69 | 3.50 | ||||
AllianzGI High Yield Bond Fund | ||||||||
Class A | 1,000.00 | 1,019.70 | 1.07 | 5.42 | ||||
Class C | 1,000.00 | 1,015.99 | 1.81 | 9.15 | ||||
Class P | 1,000.00 | 1,021.06 | 0.80 | 4.05 | ||||
Institutional | 1,000.00 | 1,020.91 | 0.83 | 4.20 | ||||
Administrative Class | 1,000.00 | 1,020.21 | 0.97 | 4.91 | ||||
AllianzGI International Small-Cap Fund | ||||||||
Class A | 1,000.00 | 1,018.80 | 1.25 | 6.33 | ||||
Class C | 1,000.00 | 1,015.04 | 2.00 | 10.10 | ||||
Class P | 1,000.00 | 1,019.55 | 1.10 | 5.57 | ||||
Institutional Class | 1,000.00 | 1,019.85 | 1.04 | 5.27 | ||||
Class R6 | 1,000.00 | 1,020.05 | 1.00 | 5.06 | ||||
AllianzGI Preferred Securities and Income Fund | ||||||||
Class P | 1,000.00 | 1,022.11 | 0.59 | 2.99 | ||||
Institutional Class | 1,000.00 | 1,022.31 | 0.55 | 2.79 | ||||
Class R6 | 1,000.00 | 1,022.56 | 0.50 | 2.54 | ||||
AllianzGI Short Duration High Income Fund | ||||||||
Class A | 1,000.00 | 1,020.76 | 0.86 | 4.36 | ||||
Class C | 1,000.00 | 1,019.50 | 1.11 | 5.62 | ||||
Class P | 1,000.00 | 1,021.66 | 0.68 | 3.45 | ||||
Institutional Class | 1,000.00 | 1,022.06 | 0.60 | 3.04 | ||||
Class R6 | 1,000.00 | 1,022.31 | 0.55 | 2.79 |
Beginning Account Value April 1, 2021 | Ending Account Value September 30, 2021 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
AllianzGI Water Fund | ||||||||
Class A | $1,000.00 | $1,018.95 | 1.22% | $ 6.17 | ||||
Class C | 1,000.00 | 1,015.19 | 1.97 | 9.95 | ||||
Class P | 1,000.00 | 1,020.36 | 0.94 | 4.76 | ||||
Institutional Class | 1,000.00 | 1,020.41 | 0.93 | 4.71 | ||||
NFJ Emerging Markets Value Fund | ||||||||
Class A | 1,000.00 | 1,019.35 | 1.14 | 5.77 | ||||
Class C | 1,000.00 | 1,015.59 | 1.89 | 9.55 | ||||
Class P | 1,000.00 | 1,020.10 | 0.99 | 5.01 | ||||
Institutional Class | 1,000.00 | 1,020.61 | 0.89 | 4.51 |
* | Expenses are equal to the relevant Fund’s annualized expense ratio, which is net of waived fees and reimbursed expenses, if applicable, multiplied by the average account value over the period, multiplied by the number of days (183) expenses were accrued in the most recent fiscal half-year, then divided by 365 to reflect the one-half year period. |
Ticker Symbols: | |
Class A : ANZAX | |
Class C: ANZCX | |
Class P: ANCMX | |
Institutional Class: ANNPX | |
Administrative Class: ANNAX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking maximum total return, consisting of capital appreciation and current income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 25.71%, Class C shares at NAV returned 24.75%, Class P shares at NAV returned 26.03%, Institutional Class shares at NAV returned 26.02%, and Administrative Class shares at NAV returned 25.76%†. For the same period, the ICE BofA U.S. Convertibles Index, the Fund’s style-specific benchmark appropriate for comparison, returned 27.30%. |
Convertible Bonds and Notes | 80% | |
Internet | 18% | |
Software | 15 | |
Healthcare-Products | 5 | |
All other Convertible Bonds and Notes | 42 | |
Convertible Preferred Stocks | 15 | |
Short-Term Investment | 5 | |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | 25.71 % | 19.35% | 14.89% | |||||
Class A shares at POP3,4 | 18.80 | 18.00 | 14.24 | |||||
Class C shares at NAV2 and with CDSC4 | 24.75 | 18.47 | 14.05 | |||||
Class P shares at NAV2 | 26.03 | 19.67 | 15.17 | |||||
Institutional Class shares at NAV2 | 26.02 | 19.69 | 15.23 | |||||
Administrative Class shares at NAV2 | 25.76 5 | 19.42 | 14.96 | |||||
ICE BofA U.S. Convertibles Index | 27.30 | 17.37 | 14.37 | |||||
Fund Expense Ratios6: Class A shares: Gross 1.06%, Net 0.96%; Class C shares: Gross 1.79%, Net 1.73%; Class P shares: Gross 0.82%, Net 0.71%; Institutional Class shares: Gross 0.79%, Net 0.71%; Administrative Class Gross 1.00%, Net 0.93%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class P: ACKPX | |
Institutional Class: ACKIX | |
Class R6: ACOSX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking total return, consisting of current income and capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class P shares at NAV returned 2.89%, Institutional Class shares at NAV returned 2.92%, and Class R6 shares at NAV returned 2.90%. For the same period, the Bloomberg U.S. Aggregate Bond Index, the Fund’s style-specific benchmark appropriate for comparison, returned -0.90%. |
Corporate Bonds and Notes | 39% | |
Financials | 9% | |
Utilities | 5 | |
Communications | 5 | |
All other Corporate Bonds and Notes | 20 | |
Asset-Backed Securities | 29 | |
Mortgage-Backed Securities | 15 | |
U.S. Government Securities | 14 | |
Short-Term Investment | 2 | |
Preferred Stocks | 1 | |
Total | 100% |
1 Year | Since inception | Inception date | ||||||
Class P shares at NAV2 | 2.89 % | 6.71 % | 5/30/18 | |||||
Institutional Class shares at NAV2 | 2.92 | 6.77 | 5/30/18 | |||||
Class R6 shares at NAV2 | 2.90 | 6.80 | 5/30/18 | |||||
Bloomberg U.S. Aggregate Bond Index | -0.90 | 4.79 3 | — | |||||
Fund Expense Ratios4: Class P shares: Gross 0.76%, Net 0.35%; Institutional Class shares: Gross 0.76%, Net 0.30%; Class R6 shares: Gross 0.76%, Net 0.25%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | The since inception index return is from the Fund’s inception date. |
4 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AMMAX | |
Institutional Class: AERIX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 6.30%, and Institutional Class shares at NAV returned 6.63%. For the same period, the MSCI Emerging Markets Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned 18.20%. |
Banks | 16% |
Technology Hardware, Storage & Peripherals | 12 |
Insurance | 11 |
Internet & Direct Marketing Retail | 8 |
Textiles, Apparel & Luxury Goods | 7 |
Interactive Media & Services | 6 |
Automobiles | 5 |
Life Sciences Tools & Services | 5 |
Beverages | 4 |
Wireless Telecommunication Services | 3 |
Other (includes short-term investment) | 23 |
Total | 100% |
1 Year | 5 Years | Since inception | Inception date | |||||||
Class A shares at NAV2 | 6.30 % | 5.96 % | 2.92 % | 12/1/14 | ||||||
Class A shares at POP3,4 | 0.45 | 4.77 | 2.07 | 12/1/14 | ||||||
Institutional Class shares at NAV2 | 6.63 | 6.33 | 3.28 | 12/1/14 | ||||||
MSCI Emerging Markets Index (net) | 18.20 | 9.23 | 6.04 5 | — | ||||||
Fund Expense Ratios6: Class A shares: Gross 1.95%, Net 1.40%; Institutional Class: Gross 1.67%, Net 1.05%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the Fund’s inception date. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PALAX | |
Class C: PALCX | |
Class P: AGAPX | |
Institutional Class: PALLX | |
Class R6: AGASX | |
Administrative Class: AGAMX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking after-inflation capital appreciation and current income. There is no guarantee that the Fund will meet its objectives. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 15.16%, Class C shares at NAV returned 14.29%, Class P shares at NAV returned 15.30%, Institutional Class shares at NAV returned 15.46%, Class R6 shares at NAV returned 15.46%, and Administrative Class shares at NAV returned 16.73%. For the same period, the 60% MSCI AC World Index (net) / 40% Bloomberg U.S. Aggregate Bond Index, the Fund’s style-specific benchmark appropriate for comparison, returned 15.52%, Bloomberg U.S. Aggregate Bond Index and MSCI AC World Index (net), both broad-based indexes, returned -0.90%, and 27.44%, respectively. |
Affiliated Mutual Fund | 34% | |
Corporate Bonds and Notes | 15 | |
Banks | 3% | |
Electric Utilities | 3 | |
Insurance | 1 | |
All other Corporate Bonds and Notes | 8 | |
Common Stocks | 14 | |
Pharmaceuticals | 1 | |
Diversified Telecommunication Services | 1 | |
Electric Utilities | 1 | |
All other Common Stocks | 11 | |
Exchange-Traded Funds | 11 | |
Mortgage-Backed Securities | 9 | |
U.S. Government Securities | 7 | |
Asset-Backed Securities | 7 | |
Other (includes short-term investment) | 3 | |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | 15.16 % | 8.47 % | 7.66 % | — % | — | |||||||
Class A shares at POP3,4 | 8.83 | 7.25 | 7.05 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | 14.29 | 7.66 | 6.86 | — | — | |||||||
Class P shares at NAV2 | 15.30 | 8.73 | 7.91 | — | — | |||||||
Institutional Class shares at NAV2 | 15.46 | 8.73 | 7.92 | — | — | |||||||
Class R6 shares at NAV2 | 15.46 | 8.83 | — | 8.19 | 9/8/15 | |||||||
Administrative Class shares at NAV2 | 16.73 | 8.85 | 7.84 | — | — | |||||||
60% MSCI AC World Index (net) / 40% Bloomberg U.S. Aggregate Bond Index | 15.52 | 9.27 | 8.51 | 8.99 5 | — | |||||||
MSCI AC World Index (net) | 27.44 | 13.20 | 11.90 | 12.40 5 | — | |||||||
Bloomberg U.S. Aggregate Bond Index | -0.90 | 2.94 | 3.01 | 3.38 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.64%, Net 0.91%; Class C shares: Gross 2.37%, Net 1.66%; Class P shares: Gross 1.43%, Net 0.71%; Institutional Class shares: Gross 1.39%, Net 0.68%; Class R6 shares: Gross 1.34%, Net 0.61%; Administrative Class shares: Gross 1.59%, Net 0.86%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the inception date of Class R6 shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : ASGAX | |
Class C: ASACX | |
Class P: AGSPX | |
Institutional Class: AGAIX | |
Class R6: ADYFX | |
Administrative Class: AGFAX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 25.22%, Class C shares at NAV returned 24.29%, Class P shares at NAV returned 25.38%†, Institutional Class shares at NAV returned 25.59%, Class R6 shares at NAV returned 25.54%†, and Administrative Class shares at NAV returned 25.27%. For the same period, the 60% MSCI AC World Index (net) / 40% Bloomberg U.S. Aggregate Bond Index, the Fund’s style-specific benchmark appropriate for comparison, returned 15.52%, Bloomberg U.S. Aggregate Bond Index and MSCI AC World Index (net), both broad-based indexes, returned -0.90%, and 27.44%, respectively. |
Common Stocks | 52% | |
Software | 3% | |
Semiconductors & Semiconductor Equipment | 3 | |
Real Estate Management & Development | 2 | |
All other Common Stocks | 44 | |
Short-Term Investment | 25 | |
Corporate Bonds and Notes | 17 | |
Banks | 3 | |
Electric Utilities | 2 | |
Insurance | 2 | |
All other Corporate Bonds and Notes | 10 | |
Foreign Government Securities | 6 | |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | 25.22 % | 9.27 % | 8.51 % | — % | — | |||||||
Class A shares at POP3,4 | 18.33 | 8.04 | 7.90 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | 24.29 | 8.44 | 7.68 | — | — | |||||||
Class P shares at NAV2 | 25.38 5 | 9.72 | 8.82 | — | — | |||||||
Institutional Class shares at NAV2 | 25.59 | 9.57 | 8.80 | — | — | |||||||
Class R6 shares at NAV2 | 25.54 5 | 9.58 | — | 9.57 | 2/1/16 | |||||||
Administrative Class shares at NAV2 | 25.27 | 9.29 | 8.53 | — | — | |||||||
60% MSCI AC World Index (net) / 40% Bloomberg U.S. Aggregate Bond Index | 15.52 | 9.27 | 8.51 | 9.93 6 | — | |||||||
MSCI AC World Index (net) | 27.44 | 13.20 | 11.90 | 14.02 6 | — | |||||||
Bloomberg U.S. Aggregate Bond Index | -0.90 | 2.94 | 3.01 | 3.41 6 | — | |||||||
Fund Expense Ratios7: Class A shares: Gross 1.70%, Net 0.92%; Class C shares: Gross 2.43%, Net 1.68%; Class P shares: Gross 1.46%, Net 0.78%; Institutional Class shares: Gross 1.47%, Net 0.64%; Class R6 shares: Gross 1.39%, Net 0.64%; Administrative Class shares: Gross 1.64%, Net 0.89%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The since inception index return is from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : ASUAX | |
Class P: ASTPX | |
Institutional Class: ASTNX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 24.61%, Class P shares at NAV returned 24.78%, and Institutional Class shares at NAV returned 24.95%. For the same period, the MSCI AC World Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned 27.44% and Dow Jones Sustainability World Index (net), a broad-based index, returned 24.83%. |
Software | 12% |
Pharmaceuticals | 8 |
Technology Hardware, Storage & Peripherals | 7 |
IT Services | 7 |
Capital Markets | 5 |
Insurance | 5 |
Interactive Media & Services | 4 |
Semiconductors & Semiconductor Equipment | 4 |
Building Products | 4 |
Machinery | 4 |
Other (includes short-term investment) | 40 |
Total | 100% |
1 Year | 5 Years | Since inception | Inception date | |||||||
Class A shares at NAV2 | 24.61 % | 14.08 % | 11.21 % | 12/9/14 | ||||||
Class A shares at POP3,4 | 17.76 | 12.80 | 10.29 | 12/9/14 | ||||||
Class P shares at NAV2 | 24.78 | 14.25 | 11.37 | 12/9/14 | ||||||
Institutional Class shares at NAV2 | 24.95 | 14.35 | 11.47 | 12/9/14 | ||||||
MSCI AC World Index (net) | 27.44 | 13.20 | 10.06 5 | — | ||||||
Dow Jones Sustainability World Index (net) | 24.83 | 14.03 | 9.91 5 | — | ||||||
Fund Expense Ratios6: Class A shares: Gross 1.43%, Net 0.94%; Class P shares: Gross 1.20%, Net 0.79%; Institutional Class shares: Gross 1.13%, Net 0.69%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the Fund’s inception date. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AYBAX | |
Class C: AYBCX | |
Class P: AYBPX | |
Institutional: AYBIX | |
Administrative Class: AYBVX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking a high level of current income and capital growth. There is no guarantee that the Fund will meet its objectives. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 12.20%, Class C shares at NAV returned 11.32%, Class P shares at NAV returned 12.47%, Institutional Class shares at NAV returned 12.43%, and Administrative Class shares at NAV returned 14.60%. For the same period, the ICE BofA U.S. High Yield Index, the Fund’s style-specific benchmark appropriate for comparison, returned 11.46%. |
Corporate Bonds and Notes | 88% | |
Oil, Gas & Consumable Fuels | 10% | |
Telecommunications | 7 | |
Media | 6 | |
All other Corporate Bonds and Notes | 65 | |
Short-Term Investment | 7 | |
Preferred Stock | 3 | |
Common Stocks | 2 | |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | 12.20 % | 4.83% | 5.67% | |||||
Class A shares at POP3,4 | 7.99 | 4.03 | 5.27 | |||||
Class C shares at NAV2 and with CDSC4 | 11.32 | 4.13 | 4.92 | |||||
Class P shares at NAV2 | 12.47 | 5.21 | 5.99 | |||||
Institutional Class shares at NAV2 | 12.43 | 5.17 | 6.00 | |||||
Administrative Class shares at NAV2 | 14.60 | 5.49 | 5.92 | |||||
ICE BofA U.S. High Yield Index | 11.46 | 6.35 | 7.30 | |||||
Fund Expense Ratios5: Gross 1.14%, Net 1.12%; Class C shares: Gross 1.76%, Net 1.76%; Class P shares: Gross 0.88%, Net 0.80%; Institutional Class shares: Gross 0.87%, Net 0.83%; Administrative Class shares: Gross 1.16%, Net 1.00%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 3.75% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AOPAX | |
Class C: AOPCX | |
Class P: ALOPX | |
Institutional Class: ALOIX | |
Class R6: AIISX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking maximum long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 23.32%, Class C shares at NAV returned 22.36%, Class P shares at NAV returned 23.48%†, Institutional Class shares at NAV returned 23.55%, and Class R6 shares at NAV returned 23.60%. For the same period, the MSCI World ex USA Small Cap Index, the Fund’s style-specific benchmark appropriate for comparison, returned 30.14% and MSCI EAFE® Small Cap Index (net), a broad-based index, returned 29.02%. |
Machinery | 8% |
Semiconductors & Semiconductor Equipment | 8 |
Insurance | 6 |
Commercial Services & Supplies | 5 |
Trading Companies & Distributors | 5 |
Electronic Equipment, Instruments & Components | 5 |
Healthcare Equipment & Supplies | 5 |
IT Services | 5 |
Chemicals | 4 |
Real Estate Management & Development | 3 |
Other (includes short-term investment) | 46 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | 23.32 % | 8.62 % | 9.83 % | — % | — | |||||||
Class A shares at POP3,4 | 16.54 | 7.39 | 9.21 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | 22.36 | 7.76 | 8.98 | — | — | |||||||
Class P shares at NAV2 | 23.48 5 | 8.78 | 10.00 | — | — | |||||||
Institutional Class shares at NAV2 | 23.55 | 8.83 | 10.08 | — | — | |||||||
Class R6 shares at NAV2 | 23.60 | 8.89 | — | 9.14 | 2/1/16 | |||||||
MSCI World Ex USA Small Cap Index (net) | 30.14 | 10.33 | 10.03 | 11.72 6 | — | |||||||
MSCI EAFE Small Cap Index (net) | 29.02 | 10.38 | 10.73 | 11.41 6 | — | |||||||
Fund Expense Ratios7: Gross 1.85%, Net 1.25%; Class C shares: Gross 2.58%, Net 2.00%; Class P shares: Gross 1.60%, Net 1.10%; Institutional Class shares: Gross 1.62%, Net 1.04%; Class R6 shares: Gross 1.54%, Net 1.00%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The since inception index return is from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class P: APUPX | |
Institutional Class: APEIX | |
Class R6: ARISX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking total return consisting of high current income and capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class P shares at NAV returned 17.18%, Institutional Class shares at NAV returned 17.20%†, and Class R6 shares at NAV returned 17.32%. For the same period, the ICE BofA Fixed Rate Preferred Securities Index, the Fund’s style-specific benchmark appropriate for comparison, returned 6.86% and S&P 500® Financials Index, a broad-based index, returned 59.13%. |
Corporate Bonds and Notes | 62% | |
Financials | 42% | |
Energy | 7 | |
Consumer, Cyclical | 5 | |
All other Corporate Bonds and Notes | 8 | |
Preferred Stocks | 34 | |
Short-Term Investment | 3 | |
U.S. Government Security | 1 | |
Total | 100% |
1 Year | Since inception | Inception date | ||||||
Class P shares at NAV2 | 17.18 % | 8.53 % | 5/30/18 | |||||
Institutional Class shares at NAV2 | 17.20 3 | 8.60 | 5/30/18 | |||||
Class R6 shares at NAV2 | 17.32 | 8.64 | 5/30/18 | |||||
ICE BofA Fixed Rate Preferred Securities Index | 6.86 | 6.71 4 | — | |||||
S&P 500® Financials Index | 59.13 | 12.43 4 | — | |||||
Fund Expense Ratios5: Class P shares: Gross 1.07%, Net 0.60%; Institutional Class shares: Gross 1.13%, Net 0.55%; Class R6 shares: Gross 1.07%, Net 0.50%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
4 | The since inception index return is from the Fund’s inception date. |
5 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : ASHAX | |
Class C: ASHCX | |
Class P: ASHPX | |
Institutional Class: ASHIX | |
Class R6: ASHSX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking a high level of current income with lower volatility than the broader high yield market. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 10.57%†, Class C shares at NAV returned 10.26%†, Class P shares at NAV returned 10.74%†, Institutional Class shares at NAV returned 10.91%, and Class R6 shares at NAV returned 10.95%. For the same period, the ICE BofA 1-3 Year BB U.S. Cash Pay High Yield Index, the Fund’s style-specific benchmark appropriate for comparison, returned 6.40%. |
Corporate Bonds and Notes | 89% | |
Diversified Financial Services | 9% | |
Oil, Gas & Consumable Fuels | 9 | |
Pipelines | 9 | |
All other Corporate Bonds and Notes | 62 | |
Leveraged Loans | 7 | |
Short-Term Investment | 4 | |
Total | 100% |
1 Year | 5 Years | Since inception | Inception date | |||||||
Class A shares at NAV2 | 10.57 % 3 | 4.15 % | 4.74 % | 10/3/11 | ||||||
Class A shares at POP4,5 | 8.09 | 3.68 | 4.50 | 10/3/11 | ||||||
Class C shares at NAV2 and with CDSC5 | 10.26 3 | 3.89 | 4.43 | 10/3/11 | ||||||
Class P shares at NAV2 | 10.74 3 | 4.40 | 4.95 | 10/3/11 | ||||||
Institutional Class shares at NAV2 | 10.91 | 4.44 | 5.02 | 10/3/11 | ||||||
Class R6 shares at NAV2 | 10.95 | — | 4.48 | 2/1/17 | ||||||
ICE BofA 1-3 Year BB U.S. Cash Pay High Yield Index | 6.40 | 4.52 | — 6 | — | ||||||
Fund Expense Ratios7: Class A shares: Gross 1.00%, Net 0.86%; Class C shares: Gross 1.23%, Net 1.11%; Class P shares: Gross 0.77%, Net 0.65%; Institutional Class shares: Gross 0.75%, Net 0.60%; Class R6 shares: Gross 0.69%, Net 0.55%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
4 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 2.25% sales charge. |
5 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
6 | The since inception index returned 5.29% from the inception date of Class A shares, Class C shares, Class P shares, and Institutional Class shares and 4.56% from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AWTAX | |
Class C: AWTCX | |
Class P: AWTPX | |
Institutional Class: AWTIX |
Allianz Global Investors U.S. LLC
■ | The Fund is non-diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 29.41%, Class C shares at NAV returned 28.48%, Class P shares at NAV returned 29.77%, and Institutional Class shares at NAV returned 29.76%. For the same period, the S&P 500® Global Water Index, the Fund’s style-specific benchmark appropriate for comparison, returned 37.41% and MSCI AC World Index (net), a broad-based index, returned 27.44%. |
Machinery | 36% |
Water Utilities | 11 |
Electronic Equipment, Instruments & Components | 10 |
Building Products | 10 |
Life Sciences Tools & Services | 7 |
Healthcare Equipment & Supplies | 5 |
Multi-Utilities | 4 |
Commercial Services & Supplies | 4 |
Chemicals | 4 |
Construction & Engineering | 4 |
Other (includes short-term investment) | 5 |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | 29.41 % | 11.83% | 12.26% | |||||
Class A shares at POP3,4 | 22.29 | 10.57 | 11.63 | |||||
Class C shares at NAV2 and with CDSC4 | 28.48 | 10.99 | 11.42 | |||||
Class P shares at NAV2 | 29.77 | 12.13 | 12.54 | |||||
Institutional Class shares at NAV2 | 29.76 | 12.14 | 12.60 | |||||
MSCI AC World Index (net) | 27.44 | 13.20 | 11.90 | |||||
S&P Global Water Index (net) | 37.41 | 14.87 | 14.00 | |||||
Fund Expense Ratios5: Gross 1.49%, Net 1.22%; Class C shares: Gross 2.23%, Net 1.97%; Class P shares: Gross 1.25%, Net 0.94%; Institutional Class shares: Gross 1.27%, Net 0.93%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AZMAX | |
Class C: AZMCX | |
Class P: AZMPX | |
Institutional Class: AZMIX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended September 30, 2021, the Fund’s Class A shares at NAV returned 12.24%, Class C shares at NAV returned 11.40%, Class P shares at NAV returned 12.40%, and Institutional Class shares at NAV returned 12.50%. For the same period, the MSCI Emerging Markets Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned 18.20%. |
Information Technology | 32% |
Financials | 15 |
Consumer Discretionary | 12 |
Communication Services | 10 |
Materials | 6 |
Consumer Staples | 6 |
Industrials | 5 |
Other (includes short-term investment) | 14 |
Total | 100% |
1 Year | 5 Years | Since inception | Inception date | |||||||
Class A shares at NAV2 | 12.24 % | 8.83 % | 5.96 % | 12/18/12 | ||||||
Class A shares at POP3,4 | 6.07 | 7.61 | 5.28 | 12/18/12 | ||||||
Class C shares at NAV2 and with CDSC4 | 11.40 | 8.03 | 5.18 | 12/18/12 | ||||||
Class P shares at NAV2 | 12.40 | 8.99 | 6.13 | 12/18/12 | ||||||
Institutional Class shares at NAV2 | 12.50 | 9.11 | 6.23 | 12/18/12 | ||||||
MSCI Emerging Markets Index (net) | 18.20 | 9.23 | 4.53 5 | — | ||||||
Fund Expense Ratios6: Class A shares: Gross 1.68%, Net 1.14%; Class C shares: Gross 2.37%, Net 1.89%; Class P shares: Gross 1.42%, Net 0.99%; Institutional Class shares: Gross 1.42%, Net 0.89%. |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the Fund’s inception date. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective February 1, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Shares | Value | ||
Convertible Preferred Stocks—15.7% | |||
Auto Components—1.0% | |||
Aptiv plc Series A, 5.500% | 183,535 | $ 30,926 | |
Capital Markets—0.8% | |||
KKR & Co., Inc. Series C, 6.000% | 317,090 | 25,053 | |
Commercial Services & Supplies—0.6% | |||
GFL Environmental, Inc., 6.000% | 224,860 | 19,122 | |
Diversified Financial Services—0.4% | |||
Chewy, Inc.2020 Mandatory Exchangeable Trust 144A, 6.500%(1) | 8,450 | 13,072 | |
Electric Utilities—2.4% | |||
NextEra Energy, Inc., 5.279% | 1,042,035 | 53,102 | |
NextEra Energy, Inc., 6.219% | 380,645 | 19,455 | |
72,557 | |||
Healthcare Equipment & Supplies—2.8% | |||
Boston Scientific Corp. Series A, 5.500% | 223,960 | 26,069 | |
Danaher Corp. Series A, 4.750% | 28,380 | 57,555 | |
83,624 | |||
Independent Power Producers & Energy Traders—0.5% | |||
AES Corp. (The), 6.875% | 164,985 | 15,905 | |
Life Sciences Tools & Services—1.1% | |||
Avantor, Inc. Series A, 6.250% | 259,735 | 32,703 | |
Machinery—1.9% | |||
Colfax Corp., 5.750% | 88,280 | 16,470 | |
RBC Bearings, Inc. Series A, 5.000% | 153,120 | 17,068 | |
Stanley Black & Decker, Inc., 5.250% | 214,275 | 22,550 | |
56,088 | |||
Pharmaceuticals—0.5% | |||
Elanco Animal Health, Inc., 5.000% | 320,135 | 15,965 |
Shares | Value | ||
Professional Services—0.5% | |||
Clarivate plc Series A, 5.250% | 153,815 | $ 13,334 | |
Semiconductors & Semiconductor Equipment—2.2% | |||
Broadcom, Inc. Series A, 8.000% | 42,075 | 64,460 | |
Wireless Telecommunication Services—1.0% | |||
T-Mobile US 2020 Cash Mandatory Exchangeable Trust 144A, 5.250%(1) | 27,460 | 31,051 | |
Total Convertible Preferred Stocks (Identified Cost $389,052) | 473,860 | ||
Par Value | ||
Convertible Bonds and Notes—80.5% | ||
Airlines—1.2% | ||
JetBlue Airways Corp. 144A 0.500%, 4/1/26(1) | $ 2,980 | 2,920 |
Southwest Airlines Co. 1.250%, 5/1/25 | 21,895 | 32,706 |
35,626 | ||
Auto Manufacturers—2.7% | ||
Ford Motor Co. 144A 0.000%, 3/15/26(1) | 30,725 | 33,125 |
NIO, Inc. 144A 0.500%, 2/1/27(1) | 17,025 | 13,859 |
Tesla, Inc. 2.000%, 5/15/24 | 2,760 | 34,437 |
81,421 | ||
Biotechnology—1.7% | ||
Bridgebio Pharma, Inc. 144A 2.250%, 2/1/29(1) | 17,800 | 15,424 |
Exact Sciences Corp. 0.375%, 3/15/27 | 14,505 | 16,427 |
Guardant Health, Inc. 144A 0.000%, 11/15/27(1) | 9,790 | 11,209 |
NeoGenomics, Inc. 0.250%, 1/15/28 | 7,185 | 7,266 |
50,326 | ||
Commercial Services—4.1% | ||
Chegg, Inc. 0.000%, 9/1/26 | 18,420 | 18,153 |
Par Value | Value | ||
Commercial Services—continued | |||
Repay Holdings Corp. 144A 0.000%, 2/1/26(1) | $ 16,090 | $ 15,537 | |
Shift4 Payments, Inc. | |||
144A 0.000%, 12/15/25(1) | 21,750 | 26,125 | |
144A 0.500%, 8/1/27(1) | 5,875 | 5,831 | |
Square, Inc. | |||
0.500%, 5/15/23 | 3,055 | 9,396 | |
144A 0.000%, 5/1/26(1) | 14,520 | 16,632 | |
144A 0.250%, 11/1/27(1) | 28,035 | 33,055 | |
124,729 | |||
Computers—2.7% | |||
CyberArk Software Ltd. 0.000%, 11/15/24 | 12,735 | 15,096 | |
Lumentum Holdings, Inc. 0.500%, 12/15/26 | 8,540 | 9,380 | |
Pure Storage, Inc. 0.125%, 4/15/23 | 27,030 | 31,263 | |
Zscaler, Inc. 0.125%, 7/1/25 | 13,350 | 24,346 | |
80,085 | |||
Cosmetics & Personal Care—0.8% | |||
Beauty Health Co. (The) 144A 1.250%, 10/1/26(1) | 22,515 | 24,879 | |
Diversified Financial Services—2.8% | |||
Coinbase Global, Inc. 144A 0.500%, 6/1/26(1) | 23,985 | 23,973 | |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. 0.000%, 8/15/23 | 12,425 | 14,916 | |
SoFi Technologies, Inc. 144A 0.000%, 10/15/26(1) | 22,105 | 22,644 | |
Upstart Holdings, Inc. 144A 0.250%, 8/15/26(1) | 15,525 | 21,289 | |
82,822 | |||
Electronics—0.3% | |||
II-VI, Inc. 0.250%, 9/1/22 | 6,905 | 9,170 |
Par Value | Value | ||
Energy-Alternate Sources—1.6% | |||
Enphase Energy, Inc. | |||
144A 0.000%, 3/1/26(1) | $ 17,580 | $ 16,393 | |
144A 0.000%, 3/1/28(1) | 18,870 | 17,455 | |
Sunnova Energy International, Inc. 144A 0.250%, 12/1/26(1) | 13,090 | 14,910 | |
48,758 | |||
Entertainment—3.2% | |||
DraftKings, Inc. 144A 0.000%, 3/15/28(1) | 39,010 | 34,348 | |
Live Nation Entertainment, Inc. 2.000%, 2/15/25 | 34,455 | 39,486 | |
Vail Resorts, Inc. 144A 0.000%, 1/1/26(1) | 21,850 | 23,325 | |
97,159 | |||
Equity Real Estate Investment Trusts (REITs)—0.7% | |||
Pebblebrook Hotel Trust 1.750%, 12/15/26 | 18,195 | ���20,315 | |
Healthcare-Products—4.9% | |||
CONMED Corp. 2.625%, 2/1/24 | 9,175 | 14,181 | |
Envista Holdings Corp. 2.375%, 6/1/25 | 11,260 | 23,360 | |
Insulet Corp. 0.375%, 9/1/26 | 15,060 | 20,943 | |
Natera, Inc. 2.250%, 5/1/27 | 8,975 | 26,835 | |
Novocure Ltd. 144A 0.000%, 11/1/25(1) | 14,050 | 14,949 | |
Omnicell, Inc. 0.250%, 9/15/25 | 17,500 | 27,908 | |
Repligen Corp. 0.375%, 7/15/24 | 7,875 | 19,915 | |
148,091 | |||
Healthcare-Services—1.8% | |||
Accolade, Inc. 144A 0.500%, 4/1/26(1) | 12,380 | 13,603 | |
Anthem, Inc. 2.750%, 10/15/42 | 2,815 | 14,858 | |
Oak Street Health, Inc. 144A 0.000%, 3/15/26(1) | 15,755 | 14,243 | |
Teladoc Health, Inc. 1.250%, 6/1/27 | 11,095 | 11,144 | |
53,848 | |||
Internet—17.9% | |||
Airbnb, Inc. 144A 0.000%, 3/15/26(1) | 30,805 | 30,266 |
Par Value | Value | ||
Internet—continued | |||
Booking Holdings, Inc. 0.750%, 5/1/25 | $ 16,830 | $ 24,715 | |
Etsy, Inc. | |||
0.125%, 9/1/27 | 21,030 | 27,644 | |
144A 0.250%, 6/15/28(1) | 26,050 | 29,554 | |
Expedia Group, Inc. 144A 0.000%, 2/15/26(1) | 14,745 | 15,919 | |
FireEye, Inc. 0.875%, 6/1/24 | 14,050 | 14,937 | |
Match Group Financeco 2, Inc. 144A 0.875%, 6/15/26(1) | 24,300 | 45,562 | |
Match Group Financeco 3, Inc. 144A 2.000%, 1/15/30(1) | 1,340 | 2,708 | |
NortonLifeLock, Inc. 144A 2.000%, 8/15/22(1) | 10,605 | 13,543 | |
Okta, Inc. 0.375%, 6/15/26 | 18,860 | 23,028 | |
Palo Alto Networks, Inc. | |||
0.750%, 7/1/23 | 10,830 | 19,682 | |
0.375%, 6/1/25 | 27,720 | 45,768 | |
Sea Ltd. 0.250%, 9/15/26 | 22,135 | 22,401 | |
Shopify, Inc. 0.125%, 11/1/25 | 19,940 | 24,407 | |
Snap, Inc. | |||
0.750%, 8/1/26 | 3,695 | 12,053 | |
144A 0.000%, 5/1/27(1) | 41,075 | 47,198 | |
TechTarget, Inc. 144A 0.125%, 12/15/25(1) | 11,415 | 15,088 | |
Twitter, Inc. | |||
0.250%, 6/15/24 | 10,935 | 13,769 | |
144A 0.000%, 3/15/26(1) | 16,170 | 15,011 | |
Uber Technologies, Inc. 144A 0.000%, 12/15/25(1) | 34,255 | 33,317 | |
Upwork, Inc. 144A 0.250%, 8/15/26(1) | 14,890 | 15,172 | |
Wayfair, Inc. | |||
0.625%, 10/1/25 | 14,665 | 14,658 | |
1.000%, 8/15/26 | 3,565 | 6,608 | |
Zendesk, Inc. 0.625%, 6/15/25 | 10,215 | 12,988 | |
Zillow Group, Inc. 2.750%, 5/15/25 | 8,935 | 13,911 | |
539,907 | |||
Iron & Steel—0.4% | |||
Cleveland-Cliffs, Inc. 1.500%, 1/15/25 | 4,485 | 11,486 | |
Leisure Time—2.1% | |||
Callaway Golf Co. 2.750%, 5/1/26 | 11,460 | 20,048 |
Par Value | Value | ||
Leisure Time—continued | |||
NCL Corp., Ltd. 5.375%, 8/1/25 | $ 9,230 | $ 15,755 | |
Royal Caribbean Cruises Ltd. 144A 2.875%, 11/15/23(1) | 21,850 | 28,241 | |
64,044 | |||
Machinery-Diversified—1.5% | |||
Chart Industries, Inc. 144A 1.000%, 11/15/24(1) | 6,985 | 22,801 | |
Middleby Corp. (The) 1.000%, 9/1/25 | 14,440 | 20,599 | |
43,400 | |||
Media—3.1% | |||
DISH Network Corp. | |||
3.375%, 8/15/26 | 13,770 | 14,314 | |
144A 0.000%, 12/15/25(1) | 23,570 | 28,166 | |
Liberty Broadband Corp. 144A 2.750%, 9/30/50(1) | 27,640 | 29,178 | |
Liberty Media Corp. 1.375%, 10/15/23 | 16,140 | 21,974 | |
93,632 | |||
Mining—0.8% | |||
MP Materials Corp. 144A 0.250%, 4/1/26(1) | 13,610 | 13,812 | |
SSR Mining, Inc. 2.500%, 4/1/39 | 10,010 | 11,418 | |
25,230 | |||
Oil, Gas & Consumable Fuels—2.0% | |||
EQT Corp. 1.750%, 5/1/26 | 14,355 | 22,631 | |
Pioneer Natural Resources Co. 0.250%, 5/15/25 | 22,755 | 36,726 | |
59,357 | |||
Pharmaceuticals—2.6% | |||
Dexcom, Inc. | |||
0.750%, 12/1/23 | 2,785 | 9,258 | |
0.250%, 11/15/25 | 43,015 | 50,973 | |
Jazz Investments I Ltd. 2.000%, 6/15/26 | 14,840 | 17,131 | |
77,362 | |||
Private Equity—0.7% | |||
Digitalbridge Operating Co. LLC 144A 5.750%, 7/15/25(1) | 7,660 | 21,047 |
Par Value | Value | ||
Retail—1.7% | |||
Burlington Stores, Inc. 2.250%, 4/15/25 | $ 15,860 | $ 23,037 | |
Dick’s Sporting Goods, Inc. 3.250%, 4/15/25 | 4,440 | 16,287 | |
RH 0.000%, 9/15/24 | 3,750 | 11,792 | |
51,116 | |||
Semiconductors—2.9% | |||
Cree, Inc. 1.750%, 5/1/26 | 3,150 | 5,816 | |
MACOM Technology Solutions Holdings, Inc. 144A 0.250%, 3/15/26(1) | 21,900 | 23,214 | |
Microchip Technology, Inc. 0.125%, 11/15/24 | 27,560 | 31,155 | |
ON Semiconductor Corp. 144A 0.000%, 5/1/27(1) | 23,860 | 28,231 | |
88,416 | |||
Software—15.5% | |||
Avalara, Inc. 144A 0.250%, 8/1/26(1) | 21,515 | 22,087 | |
Bentley Systems, Inc. 144A 0.125%, 1/15/26(1) | 15,220 | 17,511 | |
Bill.com Holdings, Inc. | |||
144A 0.000%, 12/1/25(1) | 10,880 | 19,316 | |
144A 0.000%, 4/1/27(1) | 14,095 | 14,773 | |
Blackline, Inc. 144A 0.000%, 3/15/26(1) | 18,270 | 17,954 | |
Cerence, Inc. 3.000%, 6/1/25 | 5,340 | 14,237 | |
Ceridian HCM Holding, Inc. 144A 0.250%, 3/15/26(1) | 14,120 | 15,207 | |
Cloudflare, Inc. 144A 0.000%, 8/15/26(1) | 25,220 | 24,337 | |
Coupa Software, Inc. 0.375%, 6/15/26 | 16,220 | 17,507 |
Par Value | Value | ||
Software—continued | |||
Datadog, Inc. 0.125%, 6/15/25 | $ 9,165 | $ 15,131 | |
DocuSign, Inc. 144A 0.000%, 1/15/24(1) | 19,820 | 20,672 | |
Five9, Inc. 0.500%, 6/1/25 | 14,440 | 19,473 | |
HubSpot, Inc. 0.375%, 6/1/25 | 10,050 | 24,322 | |
Jamf Holding Corp. 144A 0.125%, 9/1/26(1) | 20,730 | 21,572 | |
MongoDB, Inc. 0.250%, 1/15/26 | 11,490 | 26,181 | |
Nutanix, Inc. 144A 0.250%, 10/1/27(1) | 40,142 | 39,529 | |
Porch Group, Inc. 144A 0.750%, 9/15/26(1) | 30,545 | 30,430 | |
ServiceNow, Inc. 0.000%, 6/1/22 | 1,155 | 5,326 | |
Splunk, Inc. | |||
0.500%, 9/15/23 | 12,015 | 14,043 | |
1.125%, 9/15/25 | 11,830 | 14,440 | |
Tyler Technologies, Inc. 144A 0.250%, 3/15/26(1) | 25,270 | 27,648 | |
Workday, Inc. 0.250%, 10/1/22 | 15,845 | 27,125 | |
Workiva, Inc. 1.125%, 8/15/26 | 1,130 | 2,099 | |
Zynga, Inc. 144A 0.000%, 12/15/26(1) | 16,415 | 15,851 | |
466,771 | |||
Telecommunications—0.8% | |||
Viavi Solutions, Inc. 1.000%, 3/1/24 | 18,295 | 23,783 | |
Total Convertible Bonds and Notes (Identified Cost $2,116,519) | 2,422,780 | ||
Total Long-Term Investments—96.2% (Identified Cost $2,505,571) | 2,896,640 | ||
Shares | Value | ||
Short-Term Investment—4.6% | |||
Money Market Mutual Fund—4.6% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 140,257,328 | $ 140,257 | |
Total Short-Term Investment (Identified Cost $140,257) | 140,257 | ||
TOTAL INVESTMENTS—100.8% (Identified Cost $2,645,828) | $3,036,897 | ||
Other assets and liabilities, net—(0.8)% | (24,701) | ||
NET ASSETS—100.0% | $3,012,196 |
Abbreviations: | |
LLC | Limited Liability Company |
REIT | Real Estate Investment Trust |
Footnote Legend: | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $1,204,766 or 40.0% of net assets. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 93% |
Jersey | 2 |
Canada | 2 |
Cayman Islands | 1 |
Bermuda | 1 |
Liberia | 1 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Debt Securities: | |||||
Convertible Bonds and Notes | $2,422,780 | $ — | $2,422,780 | ||
Equity Securities: | |||||
Convertible Preferred Stocks | 473,860 | 429,737 | 44,123 | ||
Money Market Mutual Fund | 140,257 | 140,257 | — | ||
Total Investments | $3,036,897 | $569,994 | $2,466,903 |
Par Value | Value | ||
U.S. Government Securities—15.5% | |||
U.S. Treasury Bonds | |||
1.750%, 8/15/41 | $ 1,297 | $ 1,240 | |
2.375%, 5/15/51 | 1,748 | 1,866 | |
U.S. Treasury Notes | |||
1.500%, 1/31/22(1)(2) | 1,250 | 1,256 | |
0.375%, 9/15/24 | 750 | 747 | |
0.750%, 8/31/26 | 2,113 | 2,090 | |
1.250%, 8/15/31 | 1,222 | 1,192 | |
Total U.S. Government Securities (Identified Cost $8,457) | 8,391 | ||
Foreign Government Security—0.4% | |||
United Mexican States 4.500%, 1/31/50 | 200 | 204 | |
Total Foreign Government Security (Identified Cost $215) | 204 | ||
Mortgage-Backed Securities—16.3% | |||
Agency—16.3% | |||
Federal Home Loan Mortgage Corp. | |||
TBA, 2.000%(3) | 2,255 | 2,257 | |
TBA, 2.500%(3) | 1,350 | 1,389 | |
3.000%, 1/1/50 | 619 | 656 | |
Federal National Mortgage Association | |||
2.500%, 11/1/31 | 246 | 259 | |
2.500%, 7/1/40 | 314 | 324 | |
3.500%, 1/1/46 | 800 | 867 | |
3.000%, 7/1/50 | 134 | 142 | |
2.500%, 12/1/50 | 1,204 | 1,249 | |
2.000%, 2/1/51 | 766 | 776 | |
2.500%, 3/1/51 | 867 | 898 | |
8,817 | |||
Total Mortgage-Backed Securities (Identified Cost $8,726) | 8,817 | ||
Asset-Backed Securities—31.3% | |||
Automobiles—12.0% | |||
Carmax Auto Owner Trust | |||
2019-3, C 2.600%, 6/16/25 | 400 | 413 | |
2020-1, A4 2.030%, 6/16/25 | 585 | 603 | |
2021-1, A4 0.530%, 10/15/26 | 135 | 135 | |
2021-4, A2A 0.240%, 11/15/24 | 500 | 500 | |
Chesapeake Funding II LLC 2019-2A, C 144A 2.270%, 9/15/31(4) | 400 | 408 |
Par Value | Value | ||
Automobiles—continued | |||
Ford Credit Auto Owner Trust | |||
2018-1, A 144A 3.190%, 7/15/31(4) | $ 260 | $ 278 | |
2020-1, A 144A 2.040%, 8/15/31(4) | 232 | 240 | |
GM Financial Automobile Leasing Trust | |||
2019-3, C 2.350%, 7/20/23 | 400 | 403 | |
2021-2, A3 0.340%, 5/20/24 | 180 | 180 | |
GM Financial Consumer Automobile Receivables Trust | |||
2018-4, A4 3.320%, 6/17/24 | 186 | 190 | |
2019-4, A3 1.750%, 7/16/24 | 137 | 138 | |
2020-2, A3 1.490%, 12/16/24 | 70 | 71 | |
2021-3, A3 0.480%, 6/16/26 | 100 | 100 | |
Hyundai Auto Receivables Trust | |||
2018-A, A4 2.940%, 6/17/24 | 157 | 158 | |
2019-A, A3 2.660%, 6/15/23 | 593 | 597 | |
2019-B, C 2.400%, 6/15/26 | 600 | 621 | |
2021-B, A3 0.380%, 1/15/26 | 145 | 145 | |
Nissan Auto Receivables Owner Trust 2021-A, A3 0.330%, 10/15/25 | 355 | 354 | |
Tesla Auto Lease Trust 2021-A, A3 144A 0.560%, 3/20/25(4) | 150 | 150 | |
Toyota Auto Receivables Owner Trust | |||
2020-C, A3 0.440%, 10/15/24 | 310 | 311 | |
2021-B, A3 0.260%, 11/17/25 | 500 | 499 | |
6,494 | |||
Collateralized Loan Obligations—2.8% | |||
Bain Capital Credit CLO Ltd. | |||
2018-1A, A1 (3 month LIBOR + 0.960%) 144A 1.098%, 4/23/31(4)(5) | 80 | 80 | |
2021-3A, A (3 month LIBOR + 1.160%, Cap N/A, Floor 1.160%) 144A 1.346%, 7/24/34(4)(5) | 500 | 500 |
Par Value | Value | ||
Collateralized Loan Obligations—continued | |||
Carlyle US CLO Ltd. 2021-6A, A1 (3 month LIBOR + 1.160%, Cap N/A, Floor 1.160%) 144A 1.270%, 7/15/34(4)(5) | $ 250 | $ 250 | |
Venture 42 CLO Ltd. 2021-42A, A1A (3 month LIBOR + 1.130%, Cap N/A, Floor 1.130%) 144A 1.311%, 4/15/34(4)(5) | 705 | 705 | |
1,535 | |||
Consumer Loans—0.6% | |||
OneMain Financial Issuance Trust 2021-1A, A1 144A 1.550%, 6/16/36(4) | 300 | 299 | |
Credit Card—3.9% | |||
American Express Credit Account Master Trust | |||
2018-3, A (1 month LIBOR + 0.320%) 0.404%, 10/15/25(5) | 100 | 100 | |
2018-5, A (1 month LIBOR + 0.340%) 0.424%, 12/15/25(5) | 500 | 502 | |
Citibank Credit Card Issuance Trust 2017-A5, A5 (1 month LIBOR + 0.620%) 0.704%, 4/22/26(5) | 715 | 723 | |
Discover Card Execution Note Trust 2017-A7, A7 (1 month LIBOR + 0.360%) 0.444%, 4/15/25(5) | 800 | 803 | |
2,128 | |||
Equipment—3.2% | |||
CNH Equipment Trust 2019-B, A3 2.520%, 8/15/24 | 55 | 55 | |
HPEFS Equipment Trust | |||
2019-1A, A3 144A 2.210%, 9/20/29(4) | 91 | 91 | |
2019-1A, C 144A 2.490%, 9/20/29(4) | 400 | 405 | |
2021-1A, A3 144A 0.320%, 3/20/31(4) | 700 | 699 | |
2021-1A, C 144A 0.750%, 3/20/31(4) | 500 | 500 | |
1,750 | |||
Par Value | Value | ||
Other—8.8% | |||
Domino’s Pizza Master Issuer LLC 2021-1A, A2I 144A 2.662%, 4/25/51(4) | $ 499 | $ 513 | |
MVW LLC 2019-2A, A 144A 2.220%, 10/20/38(4) | 307 | 312 | |
United States Small Business Administration | |||
2018-20A, 1 2.920%, 1/1/38 | 183 | 194 | |
2018-20E, 1 3.500%, 5/1/38 | 233 | 253 | |
2018-20G, 1 3.540%, 7/1/38 | 204 | 222 | |
2018-20I, 1 3.530%, 9/1/38 | 291 | 316 | |
2019-20A, 1 3.370%, 1/1/39 | 226 | 247 | |
2019-20B, 1 3.260%, 2/1/39 | 88 | 96 | |
2019-20C, 1 3.200%, 3/1/39 | 97 | 106 | |
2019-20F, 1 2.600%, 6/1/39 | 34 | 36 | |
2019-25G, 1 2.690%, 7/1/44 | 132 | 139 | |
2020-25L, 1 1.210%, 12/1/45 | 147 | 143 | |
2021-25D, 1 1.660%, 4/1/46 | 515 | 517 | |
2021-25I, 1 1.560%, 9/1/46 | 250 | 248 | |
Vantage Data Centers LLC 2020-1A, A2 144A 1.645%, 9/15/45(4) | 250 | 249 | |
Verizon Master Trust 2021-1, A 0.500%, 5/20/27 | 340 | 339 | |
Verizon Owner Trust | |||
2019-C, A1A 1.940%, 4/22/24 | 755 | 762 | |
2020-C, A 0.410%, 4/21/25 | 100 | 100 | |
4,792 | |||
Total Asset-Backed Securities (Identified Cost $16,836) | 16,998 | ||
Corporate Bonds and Notes—41.9% | |||
Basic Materials—1.1% | |||
ArcelorMittal S.A. 7.000%, 10/15/39 | 100 | 141 | |
Braskem Netherlands Finance BV 144A 4.500%, 1/31/30(4) | 200 | 213 |
Par Value | Value | ||
Basic Materials—continued | |||
Fibria Overseas Finance Ltd. 5.500%, 1/17/27 | $ 105 | $ 120 | |
Suzano Austria GmbH 3.750%, 1/15/31 | 140 | 144 | |
618 | |||
Communications—5.4% | |||
Amazon.com, Inc. 3.250%, 5/12/61 | 145 | 154 | |
AT&T, Inc. 3.100%, 2/1/43 | 326 | 313 | |
Charter Communications Operating LLC | |||
2.250%, 1/15/29 | 170 | 170 | |
5.375%, 4/1/38 | 110 | 133 | |
Discovery Communications LLC 5.200%, 9/20/47 | 85 | 106 | |
Netflix, Inc. 4.875%, 4/15/28 | 255 | 294 | |
Omnicom Group, Inc. 2.600%, 8/1/31 | 193 | 196 | |
Time Warner Entertainment Co. LP 8.375%, 7/15/33 | 95 | 141 | |
T-Mobile USA, Inc. 2.250%, 2/15/26 | 213 | 215 | |
Verizon Communications, Inc. | |||
4.125%, 3/16/27 | 190 | 216 | |
2.100%, 3/22/28 | 193 | 196 | |
4.400%, 11/1/34 | 110 | 130 | |
ViacomCBS, Inc. | |||
4.200%, 5/19/32 | 134 | 153 | |
4.375%, 3/15/43 | 80 | 92 | |
6.250%, 2/28/57 | 127 | 145 | |
Vodafone Group plc 5.125%, 6/4/81 | 180 | 185 | |
Walt Disney Co. (The) 7.300%, 4/30/28 | 85 | 113 | |
2,952 | |||
Consumer, Cyclical—5.4% | |||
American Airlines, Inc. 144A 5.500%, 4/20/26(4) | 250 | 263 | |
Delta Air Lines, Inc. | |||
144A 7.000%, 5/1/25(4) | 274 | 319 | |
144A 4.500%, 10/20/25(4) | 184 | 197 | |
Ford Motor Credit Co. LLC 4.140%, 2/15/23 | 530 | 543 | |
General Motors Co. 5.150%, 4/1/38 | 160 | 191 | |
Hasbro, Inc. | |||
6.350%, 3/15/40 | 130 | 180 | |
5.100%, 5/15/44 | 105 | 127 |
Par Value | Value | ||
Consumer, Cyclical—continued | |||
Lowe’s Cos., Inc. 2.800%, 9/15/41 | $ 167 | $ 162 | |
Mileage Plus Holdings LLC 144A 6.500%, 6/20/27(4) | 710 | 772 | |
United Airlines, Inc. 144A 4.625%, 4/15/29(4) | 140 | 145 | |
2,899 | |||
Consumer, Non-cyclical—4.6% | |||
Amgen, Inc. 2.000%, 1/15/32 | 320 | 308 | |
Anheuser-Busch InBev Finance, Inc. 4.000%, 1/17/43 | 180 | 198 | |
Celgene Corp. 5.000%, 8/15/45 | 129 | 151 | |
Centene Corp. 2.450%, 7/15/28 | 222 | 223 | |
Cigna Corp. 4.800%, 8/15/38 | 120 | 147 | |
CVS Health Corp. 2.700%, 8/21/40 | 295 | 281 | |
HCA, Inc. 5.875%, 2/15/26 | 230 | 264 | |
PerkinElmer, Inc. 1.900%, 9/15/28 | 165 | 164 | |
Pilgrim’s Pride Corp. 144A 3.500%, 3/1/32(4) | 47 | 48 | |
STERIS Irish FinCo Un-Ltd Co. 2.700%, 3/15/31 | 190 | 194 | |
Takeda Pharmaceutical Co. Ltd. 3.175%, 7/9/50 | 130 | 132 | |
Trustees of Tufts College 3.099%, 8/15/51 | 190 | 200 | |
Viatris, Inc. 144A 4.000%, 6/22/50(4) | 185 | 197 | |
2,507 | |||
Energy—4.0% | |||
BP Capital Markets plc 4.875%(3) | 208 | 229 | |
El Paso Natural Gas Co. LLC 8.375%, 6/15/32 | 125 | 183 | |
Energy Transfer LP | |||
6.500%, 2/1/42 | 75 | 97 | |
Series G 7.125%(3) | 136 | 143 | |
Series H 6.500%(3) | 130 | 135 | |
Hess Corp. | |||
7.125%, 3/15/33 | 87 | 118 | |
5.600%, 2/15/41 | 120 | 150 |
Par Value | Value | ||
Energy—continued | |||
NGPL PipeCo LLC 144A 3.250%, 7/15/31(4) | $ 115 | $ 118 | |
Northern Natural Gas Co. 144A 3.400%, 10/16/51(4) | 231 | 235 | |
Petroleos Mexicanos 4.500%, 1/23/26 | 270 | 272 | |
Plains All American Pipeline LP Series B 6.125%(3) | 237 | 214 | |
Targa Resources Partners LP 5.500%, 3/1/30 | 240 | 262 | |
2,156 | |||
Financials—9.2% | |||
AerCap Ireland Capital DAC 3.500%, 1/15/25 | 155 | 163 | |
American Express Co. 3.550%(3) | 95 | 97 | |
American International Group, Inc. 6.820%, 11/15/37 | 20 | 28 | |
American Tower Corp. 2.750%, 1/15/27 | 265 | 278 | |
Athene Global Funding | |||
144A 2.550%, 6/29/25(4) | 82 | 85 | |
144A 2.500%, 3/24/28(4) | 195 | 199 | |
Berkshire Hathaway Finance Corp. 2.850%, 10/15/50 | 88 | 87 | |
Equinix, Inc. 1.000%, 9/15/25 | 338 | 333 | |
First Horizon Corp. 4.000%, 5/26/25 | 406 | 443 | |
GE Capital International Funding Co. Unlimited Co. 4.418%, 11/15/35 | 200 | 240 | |
Global Atlantic Fin Co. | |||
144A 3.125%, 6/15/31(4) | 160 | 162 | |
144A 4.700%, 10/15/51(4) | 350 | 362 | |
Huntington Bancshares, Inc. Series F 5.625%(3) | 75 | 88 | |
Huntington Capital Trust I (3 month LIBOR + 0.700%) 0.826%, 2/1/27(5) | 107 | 104 | |
Intercontinental Exchange, Inc. 2.650%, 9/15/40 | 190 | 182 | |
JPMorgan Chase & Co. Series U (3 month LIBOR + 0.950%) 1.076%, 2/2/37(5) | 314 | 283 | |
Liberty Mutual Group, Inc. 144A 4.125%, 12/15/51(4) | 209 | 215 | |
Lincoln National Corp. (3 month LIBOR + 2.358%) 2.482%, 5/17/66(5) | 200 | 183 | |
M&T Bank Corp. 3.500%(3) | 114 | 113 |
Par Value | Value | ||
Financials—continued | |||
MetLife, Inc. | |||
10.750%, 8/1/39 | $ 154 | $ 268 | |
144A 9.250%, 4/8/38(4) | 55 | 84 | |
NatWest Group plc 3.073%, 5/22/28 | 200 | 212 | |
New York Life Insurance Co. 144A 4.450%, 5/15/69(4) | 110 | 138 | |
Northwestern Mutual Life Insurance Co. (The) 144A 3.850%, 9/30/47(4) | 140 | 160 | |
Popular, Inc. 6.125%, 9/14/23 | 295 | 317 | |
State Street Corp. (3 month LIBOR + 1.000%) 1.116%, 6/15/47(5) | 165 | 147 | |
4,971 | |||
Industrials—1.9% | |||
Avnet, Inc. 3.000%, 5/15/31 | 185 | 185 | |
Boeing Co. (The) | |||
7.950%, 8/15/24 | 135 | 161 | |
4.875%, 5/1/25 | 125 | 139 | |
3.625%, 2/1/31 | 335 | 359 | |
Waste Connections, Inc. 2.950%, 1/15/52 | 182 | 178 | |
1,022 | |||
Technology—4.4% | |||
Analog Devices, Inc. | |||
2.100%, 10/1/31 | 147 | 147 | |
2.800%, 10/1/41 | 170 | 170 | |
Apple, Inc. 2.700%, 8/5/51 | 160 | 154 | |
Broadcom, Inc. | |||
144A 1.950%, 2/15/28(4) | 146 | 144 | |
144A 3.137%, 11/15/35(4) | 269 | 268 | |
144A 3.500%, 2/15/41(4) | 109 | 108 | |
Dell, Inc. 7.100%, 4/15/28 | 115 | 148 | |
Intel Corp. 3.050%, 8/12/51 | 70 | 70 | |
Leidos, Inc. 7.125%, 7/1/32 | 44 | 60 | |
MSCI, Inc. 144A 3.625%, 11/1/31(4) | 375 | 390 | |
NXP B.V. 144A 3.400%, 5/1/30(4) | 215 | 233 | |
salesforce.com, Inc. 2.900%, 7/15/51 | 91 | 91 | |
VMware, Inc. | |||
4.500%, 5/15/25 | 225 | 251 | |
2.200%, 8/15/31 | 160 | 157 | |
2,391 | |||
Utilities—5.9% | |||
Boston Gas Co. 144A 3.150%, 8/1/27(4) | 264 | 281 |
Par Value | Value | ||
Utilities—continued | |||
Consolidated Edison Co. of New York, Inc. Series 03-C 5.100%, 6/15/33 | $ 89 | $ 106 | |
Dominion Energy, Inc. Series C 2.250%, 8/15/31 | 100 | 100 | |
Duke Energy Corp. 3.250%, 1/15/82 | 94 | 94 | |
Edison International Series A 5.375%(3) | 190 | 196 | |
Enel Finance International N.V 144A 2.250%, 7/12/31(4) | 200 | 197 | |
Enel Finance International N.V. 144A 2.650%, 9/10/24(4) | 200 | 210 | |
Jersey Central Power & Light Co. | |||
6.150%, 6/1/37 | 85 | 113 | |
144A 2.750%, 3/1/32(4) | 150 | 154 | |
MidAmerican Energy Co. 4.250%, 7/15/49 | 73 | 90 | |
NextEra Energy Capital Holdings, Inc. 1.900%, 6/15/28 | 230 | 230 | |
Niagara Mohawk Power Corp. 144A 1.960%, 6/27/30(4) | 170 | 165 | |
NRG Energy, Inc. 144A 2.450%, 12/2/27(4) | 260 | 264 | |
Pacific Gas & Electric Co. | |||
4.500%, 12/15/41 | 45 | 44 | |
4.950%, 7/1/50 | 190 | 202 | |
PacifiCorp. 2.900%, 6/15/52 | 40 | 39 | |
Pennsylvania Electric Co. | |||
6.150%, 10/1/38 | 125 | 167 | |
144A 4.150%, 4/15/25(4) | 165 | 176 | |
144A 3.250%, 3/15/28(4) | 80 | 84 | |
Southern California Edison Co. 3.900%, 12/1/41 | 96 | 98 | |
Southern Co. (The) Series A 3.750%, 9/15/51 | 193 | 197 | |
3,207 | |||
Total Corporate Bonds and Notes (Identified Cost $22,352) | 22,723 | ||
Shares | ||
Preferred Stocks—0.8% | ||
Financials—0.8% | ||
Citigroup Capital XIII (3 month LIBOR + 6.370%), 6.499%(5) | 10 (6) | 277 |
Shares | Value | ||
Financials—continued | |||
Truist Financial Corp. Series Q, 5.100% | 160 (6) | $ 184 | |
461 | |||
Total Preferred Stocks (Identified Cost $434) | 461 | ||
Total Long-Term Investments—106.2% (Identified Cost $57,020) | 57,594 | ||
Short-Term Investment—2.0% | |||
Money Market Mutual Fund—2.0% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%) | 1,076,517 | 1,077 | |
Total Short-Term Investment (Identified Cost $1,077) | 1,077 | ||
TOTAL INVESTMENTS—108.2% (Identified Cost $58,097) | $58,671 | ||
Other assets and liabilities, net—(8.2)% | (4,467) | ||
NET ASSETS—100.0% | $54,204 |
Abbreviations: | |
CDX.NA.HY | Credit Default Swap Index North American High Yield |
CLO | Collateralized Loan Obligation |
LIBOR | London Interbank Offered Rate |
LLC | Limited Liability Company |
LP | Limited Partnership |
MSCI | Morgan Stanley Capital International |
TBA | To be announced |
Footnote Legend: | |
(1) | All or a portion of the security is segregated as collateral for open swap contracts. |
(2) | All or a portion of the security is segregated as collateral for open futures contracts. |
(3) | No contractual maturity date. |
(4) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $12,265 or 22.6% of net assets. |
(5) | Variable rate security. Rate disclosed is as of September 30, 2021. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(6) | Value shown as par value. |
Counterparties: | |
ICE | Intercontinental Exchange |
Country Weightings (Unaudited)† | |
United States | 90% |
Cayman Islands | 3 |
Netherlands | 3 |
Ireland | 1 |
Puerto Rico | 1 |
Mexico | 1 |
United Kingdom | 1 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | ||||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) | |
Long Contracts: | ||||||
U.S. Treasury Long Bond Future | December 2021 | 4 | $ 637 | $— | $ (16) | |
2 Year U.S. Treasury Note Future | December 2021 | 7 | 1,541 | — | (2) | |
5 Year U.S. Treasury Note Future | December 2021 | 26 | 3,191 | — | (20) | |
$— | $ (38) | |||||
Short Contracts: | ||||||
10 Year U.S. Treasury Ultra Note Future | December 2021 | (17) | (2,469) | 48 | — | |
Total | $48 | $ (38) |
Centrally cleared credit default swap - buy protection(1) outstanding as of September 30, 2021 were as follows: | ||||||||||
Reference Entity | Payment Frequency | Counterparty | Fixed Rate | Expiration Date | Notional Amount(2) | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized (Depreciation) | |
CDX.NA.HY.37 (3) | Quarterly | ICE | 5.000% | 12/20/26 | $(5,235) | $(482) | $ (493) | $11 | $ — | |
Citigroup, Inc. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (1,000) | (24) | (25) | 1 | — | |
Hess Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (560) | 1 | 5 | — | (4) | |
International Business Machines Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (1,385) | (42) | (42) | — | — (4) |
Centrally cleared credit default swap - buy protection(1) outstanding as of September 30, 2021 were as follows: | |||||||||||||
Reference Entity | Payment Frequency | Counterparty | Fixed Rate | Expiration Date | Notional Amount(2) | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized (Depreciation) | ||||
Lincoln National Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | $ (510) | $ (7) | $ (6) | $— | $ (1) | ||||
Morgan Stanley Senior | Quarterly | ICE | 1.000% | 06/20/26 | (610) | (13) | (11) | — | (2) | ||||
Simon Property Group LP Senior | Quarterly | ICE | 1.000% | 12/20/26 | (665) | (11) | (10) | — | (1) | ||||
Southwest Airlines Co. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (500) | (3) | (1) | — | (2) | ||||
Valero Energy Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (520) | (2) | 1 | — | (3) | ||||
Total | $(583) | $ (582) | $12 | $ (13) |
Footnote Legend: | |
(1) | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index; or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index. |
(2) | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(3) | Markit CDX.NA.HY Index, is composed of 100 of the most liquid North American entities with high yield credit ratings that trade in the credit default swap market. |
(4) | Amount is less than $500. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Debt Securities: | |||||
Asset-Backed Securities | $16,998 | $ — | $16,998 | ||
Corporate Bonds and Notes | 22,723 | — | 22,723 | ||
Foreign Government Security | 204 | — | 204 | ||
Mortgage-Backed Securities | 8,817 | — | 8,817 | ||
U.S. Government Securities | 8,391 | — | 8,391 | ||
Equity Securities: | |||||
Preferred Stocks | 461 | 277 | 184 | ||
Money Market Mutual Fund | 1,077 | 1,077 | — | ||
Other Financial Instruments: | |||||
Futures Contract | 48 | 48 | — | ||
Centrally Cleared Credit Default Swap | 1 | — | 1 | ||
Total Assets | 58,720 | 1,402 | 57,318 | ||
Liabilities: | |||||
Other Financial Instruments: | |||||
Futures Contracts | (38) | (38) | — | ||
Centrally Cleared Credit Default Swap | (584) | — | (584) | ||
Total Liabilities | (622) | (38) | (584) | ||
Total Investments | $58,098 | $1,364 | $56,734 |
Shares | Value | ||
Preferred Stock—0.3% | |||
Brazil—0.3% | |||
Banco Bradesco S.A. | 2,700 | $ 10 | |
Total Preferred Stock (Identified Cost $13) | 10 | ||
Common Stocks—98.8% | |||
Brazil—1.5% | |||
Banco do Brasil S.A. | 6,500 | 35 | |
Sao Martinho S.A. | 3,600 | 23 | |
58 | |||
China—33.0% | |||
Alibaba Group Holding Ltd.(1) | 5,700 | 105 | |
ANTA Sports Products Ltd. | 4,000 | 76 | |
Baidu, Inc. Sponsored ADR(1) | 135 | 21 | |
Bank of Jiangsu Co., Ltd. Class A | 18,100 | 16 | |
Bilibili, Inc. Sponsored ADR(1) | 221 | 15 | |
China Merchants Bank Co., Ltd. Class H | 17,000 | 135 | |
Chlitina Holding Ltd. | 3,000 | 21 | |
Geely Automobile Holdings Ltd. | 6,000 | 17 | |
Great Wall Motor Co., Ltd. Class H | 4,500 | 17 | |
Greenland Holdings Corp. Ltd. Class A | 17,124 | 12 | |
JD.com, Inc. ADR(1) | 977 | 71 | |
JD.com, Inc. Class A(1) | 550 | 20 | |
Lenovo Group Ltd. | 62,000 | 81 | |
Li Ning Co., Ltd. | 5,500 | 63 | |
Luzhou Laojiao Co., Ltd. Class A | 741 | 25 | |
Meituan Class B(1) | 800 | 26 | |
NIO, Inc. ADR(1) | 276 | 10 | |
Nongfu Spring Co., Ltd. Class H | 3,600 | 18 | |
Shanghai Pharmaceuticals Holding Co., Ltd. Class A | 6,200 | 18 | |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A | 400 | 24 | |
Shenzhou International Group Holdings Ltd. | 1,600 | 34 | |
Sinopharm Group Co., Ltd. Class H | 5,200 | 14 | |
Tencent Holdings Ltd. | 2,700 | 161 | |
Topsports International Holdings Ltd. | 14,000 | 16 | |
Tsingtao Brewery Co., Ltd. Class H | 6,000 | 47 | |
Weibo Corp. Sponsored ADR(1) | 306 | 14 | |
Wuxi Biologics Cayman, Inc.(1) | 6,000 | 97 | |
Xiaomi Corp. Class B(1) | 8,600 | 24 | |
Zhejiang Semir Garment Co., Ltd. Class A | 30,500 | 36 |
Shares | Value | ||
China—continued | |||
Zhongsheng Group Holdings Ltd. | 3,500 | $ 28 | |
1,262 | |||
Cyprus—0.5% | |||
TCS Group Holding plc GDR | 227 | 21 | |
Germany—3.4% | |||
Daimler AG Registered Shares | 1,484 | 131 | |
Hong Kong—0.6% | |||
Yue Yuen Industrial Holdings Ltd.(1) | 12,000 | 24 | |
India—7.2% | |||
Apollo Tyres Ltd. | 6,468 | 20 | |
Bajaj Auto Ltd. | 290 | 15 | |
Divi’s Laboratories Ltd. | 997 | 64 | |
HDFC Bank Ltd. ADR | 1,250 | 91 | |
Jubilant Foodworks Ltd. | 931 | 51 | |
Reliance Industries Ltd. | 1,046 | 35 | |
276 | |||
Indonesia—0.4% | |||
Indofood Sukses Makmur Tbk PT | 33,500 | 15 | |
Mexico—2.0% | |||
America Movil SAB de CV Series L | 66,600 | 59 | |
Gruma SAB de CV Class B | 1,375 | 16 | |
75 | |||
Philippines—0.4% | |||
Globe Telecom, Inc. | 235 | 14 | |
Poland—0.4% | |||
Dino Polska S.A.(1) | 202 | 17 | |
Russia—1.4% | |||
Mobile TeleSystems PJSC Sponsored ADR | 5,396 | 52 | |
Singapore—0.7% | |||
Sea Ltd. ADR(1) | 87 | 28 | |
South Africa—0.7% | |||
Absa Group Ltd. | 2,581 | 26 | |
South Korea—15.5% | |||
CJ CheilJedang Corp. | 145 | 50 | |
Hana Financial Group, Inc. | 3,063 | 119 | |
Hankook Tire & Technology Co., Ltd. | 679 | 25 | |
Kia Corp. | 1,305 | 88 | |
KIWOOM Securities Co. Ltd. | 125 | 11 | |
KT Corp. | 1,389 | 38 | |
LG Electronics, Inc. | 279 | 30 | |
NAVER Corp. | 116 | 38 |
Shares | Value | ||
South Korea—continued | |||
Samsung Electronics Co., Ltd. | 3,138 | $ 194 | |
593 | |||
Switzerland—1.9% | |||
Roche Holding AG | 198 | 72 | |
Taiwan—19.5% | |||
Cathay Financial Holding Co., Ltd. | 34,000 | 70 | |
Chong Hong Construction Co., Ltd. | 7,000 | 20 | |
CTBC Financial Holding Co., Ltd. | 80,000 | 66 | |
First Financial Holding Co., Ltd. | 77,456 | 63 | |
Fubon Financial Holding Co., Ltd. | 125,400 | 343 | |
Lite-On Technology Corp. | 23,000 | 51 | |
momo.com, Inc. | 1,000 | 58 | |
O-TA Precision Industry Co., Ltd. | 4,000 | 22 | |
Qisda Corp. | 20,000 | 20 | |
Yuanta Financial Holding Co., Ltd. | 40,000 | 35 | |
748 | |||
Thailand—0.7% | |||
Charoen Pokphand Foods PCL Foreign Shares | 13,200 | 10 | |
Sri Trang Gloves Thailand PCL Foreign Shares | 18,200 | 17 | |
27 | |||
Turkey—1.4% | |||
Arcelik AS | 4,141 | 15 | |
Turkcell Iletisim Hizmetleri AS | 6,040 | 10 | |
Turkiye Garanti Bankasi AS | 25,753 | 27 | |
52 | |||
United States—7.6% | |||
Apple, Inc. | 818 | 116 | |
Microsoft Corp. | 282 | 79 | |
PepsiCo, Inc. | 297 | 44 | |
Thermo Fisher Scientific, Inc. | 87 | 50 | |
289 | |||
Total Common Stocks (Identified Cost $2,808) | 3,780 | ||
Rights—0.1% | |||
Taiwan—0.1% | |||
Fubon Financial Holding Co., Ltd.(1) | 4,345 | 3 |
Shares | Value | ||
Taiwan—continued | |||
Fubon Financial Holding Co., Ltd. Preference Shares (1) | 2,643 | $ — | |
3 | |||
Total Rights (Identified Cost $—) | 3 | ||
Total Long-Term Investments—99.2% (Identified Cost $2,821) | 3,793 | ||
Shares | Value | ||
Short-Term Investment—4.2% | |||
Money Market Mutual Fund—4.2% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 162,514 | $ 163 | |
Total Short-Term Investment (Identified Cost $163) | 163 | ||
TOTAL INVESTMENTS—103.4% (Identified Cost $2,984) | $3,956 | ||
Other assets and liabilities, net—(3.4)% | (131) | ||
NET ASSETS—100.0% | $3,825 |
Abbreviations: | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
LLC | Limited Liability Company |
PJSC | Public Joint Stock Company |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
China | 32% |
Taiwan | 19 |
South Korea | 15 |
United States | 11 |
India | 7 |
Germany | 3 |
Mexico | 2 |
Other | 11 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $3,780 | $751 | $3,029 | ||
Preferred Stock | 10 | 10 | — | ||
Rights | 3 | — | 3 | ||
Money Market Mutual Fund | 163 | 163 | — | ||
Total Investments | $3,956 | $924 | $3,032 |
Par Value | Value | ||
U.S. Government Securities—6.8% | |||
Tennessee Valley Authority 1.500%, 9/15/31 | $ 2,450 | $ 2,414 | |
U.S. Treasury Bonds | |||
1.750%, 8/15/41 | 2,592 | 2,478 | |
2.375%, 5/15/51(1) | 2,992 | 3,193 | |
U.S. Treasury Notes | |||
0.125%, 11/30/22 | 1,300 | 1,300 | |
0.125%, 8/31/23 | 3,635 | 3,625 | |
0.375%, 4/15/24 | 400 | 400 | |
0.375%, 9/15/24 | 2,735 | 2,723 | |
0.750%, 8/31/26 | 2,871 | 2,840 | |
1.250%, 8/15/31 | 371 | 362 | |
Total U.S. Government Securities (Identified Cost $19,556) | 19,335 | ||
Foreign Government Security—0.1% | |||
United Mexican States 4.500%, 1/31/50 | 240 | 245 | |
Total Foreign Government Security (Identified Cost $258) | 245 | ||
Mortgage-Backed Securities—8.8% | |||
Agency—7.8% | |||
Federal Home Loan Mortgage Multiclass Certificates 2021-P009, A2 1.878%, 1/25/31 | 921 | 942 | |
Federal Home Loan Mortgage Multifamily Structured Pass Through Certificates | |||
1.639%, 1/25/30 | 870 | 874 | |
1.493%, 9/25/30 | 1,300 | 1,288 | |
2.074%, 1/25/31 | 50 | 52 | |
Federal National Mortgage Association ACES | |||
2021-M1S, A2 1.429%, 12/25/30(2) | 2,000 | 1,957 | |
2021-M3G, A2 1.250%, 1/25/31(2) | 1,000 | 966 | |
2021-M2G, A2 1.421%, 3/25/31(2) | 1,000 | 976 | |
Government National Mortgage Association II | |||
Pool #78446 3.000%, 2/20/48 | 1,245 | 1,303 | |
Pool #784648 3.000%, 11/20/48 | 2,632 | 2,724 | |
Pool #BV0838 2.500%, 8/20/50 | 5,495 | 5,691 |
Par Value | Value | ||
Agency—continued | |||
Pool #MA6985 2.000%, 11/20/50 | $ 1,252 | $ 1,251 | |
Pool #BZ4061 2.000%, 12/20/50 | 2,088 | 2,121 | |
Pool #MA7366 2.000%, 5/20/51 | 2,208 | 2,242 | |
22,387 | |||
Non-Agency—1.0% | |||
Grace Trust 2020-GRCE, A 144A 2.347%, 12/10/40(3) | 1,250 | 1,267 | |
One Bryant Park Trust 2019-OBP, A 144A 2.516%, 9/15/54(3) | 1,500 | 1,544 | |
2,811 | |||
Total Mortgage-Backed Securities (Identified Cost $25,525) | 25,198 | ||
Asset-Backed Securities—6.4% | |||
Automobiles—1.4% | |||
Ally Auto Receivables Trust 2019-4, A3 1.840%, 6/17/24 | 700 | 705 | |
CarMax Auto Owner Trust 2020-2, A3 1.700%, 11/15/24 | 957 | 966 | |
GM Financial Automobile Leasing Trust 2021-2, A3 0.340%, 5/20/24 | 500 | 500 | |
Tesla Auto Lease Trust 2021-A, A3 144A 0.560%, 3/20/25(3) | 750 | 752 | |
Toyota Auto Receivables Owner Trust 2021-B, A3 0.260%, 11/17/25 | 1,000 | 997 | |
3,920 | |||
Collateralized Loan Obligations—1.1% | |||
Flatiron CLO 17 Ltd. 2017-1A, AR (3 month LIBOR + 0.980%, Cap N/A, Floor 0.980%) 144A 1.105%, 5/15/30(2)(3) | 1,825 | 1,823 | |
Venture 42 CLO Ltd. 2021-42A, A1A (3 month LIBOR + 1.130%, Cap N/A, Floor 1.130%) 144A 1.311%, 4/15/34(2)(3) | 1,220 | 1,220 | |
3,043 | |||
Par Value | Value | ||
Consumer Loans—0.2% | |||
OneMain Financial Issuance Trust 2021-1A, A1 144A 1.550%, 6/16/36(3) | $ 500 | $ 499 | |
Credit Card—0.3% | |||
Citibank Credit Card Issuance Trust 2018-A2, A2 (1 month LIBOR + 0.330%) 0.417%, 1/20/25(2) | 1,000 | 1,003 | |
Equipment—0.1% | |||
Dell Equipment Finance Trust 2021-2, A3 144A 0.530%, 12/22/26(3) | 330 | 329 | |
Other—3.3% | |||
United States Small Business Administration | |||
2017-20E, 1 2.880%, 5/1/37 | 1,683 | 1,802 | |
2020-20G, 1 1.030%, 7/1/40 | 2,071 | 2,004 | |
2020-25L, 1 1.210%, 12/1/45 | 1,474 | 1,434 | |
2021-25A, 1 1.280%, 1/1/46 | 3,078 | 2,985 | |
2021-25B, 1 1.340%, 2/1/46 | 604 | 588 | |
2021-25I, 1 1.560%, 9/1/46 | 250 | 248 | |
Verizon Master Trust 2021-1, A 0.500%, 5/20/27 | 500 | 499 | |
9,560 | |||
Total Asset-Backed Securities (Identified Cost $18,627) | 18,354 | ||
Corporate Bonds and Notes—14.4% | |||
Advertising—0.1% | |||
Omnicom Group, Inc. 2.600%, 8/1/31 | 132 | 134 | |
Aerospace & Defense—0.3% | |||
BAE Systems plc | |||
144A 3.400%, 4/15/30(3) | 30 | 32 | |
144A 1.900%, 2/15/31(3) | 125 | 120 | |
Boeing Co. (The) | |||
4.875%, 5/1/25 | 140 | 156 | |
3.625%, 2/1/31 | 370 | 396 | |
Raytheon Technologies Corp. | |||
7.200%, 8/15/27 | 93 | 121 |
Par Value | Value | ||
Aerospace & Defense—continued | |||
7.000%, 11/1/28 | $ 75 | $ 98 | |
923 | |||
Airlines—0.4% | |||
American Airlines, Inc. 144A 5.500%, 4/20/26(3) | 150 | 158 | |
Delta Air Lines, Inc. | |||
144A 7.000%, 5/1/25(3) | 198 | 231 | |
144A 4.500%, 10/20/25(3) | 205 | 219 | |
Mileage Plus Holdings LLC 144A 6.500%, 6/20/27(3) | 480 | 522 | |
United Airlines, Inc. 144A 4.625%, 4/15/29(3) | 100 | 103 | |
1,233 | |||
Auto Manufacturers—0.2% | |||
Ford Motor Credit Co. LLC 4.140%, 2/15/23 | 215 | 221 | |
General Motors Co. 5.150%, 4/1/38 | 290 | 346 | |
567 | |||
Banks—2.5% | |||
Bank of America Corp. | |||
2.456%, 10/22/25 | 425 | 444 | |
2.496%, 2/13/31 | 560 | 567 | |
BNP Paribas S.A. 144A 1.675%, 6/30/27(3) | 200 | 199 | |
Citigroup, Inc. 0.776%, 10/30/24 | 1,010 | 1,014 | |
Cooperatieve Rabobank UA 144A 1.106%, 2/24/27(3) | 750 | 739 | |
Goldman Sachs Group, Inc. (The) 0.855%, 2/12/26 | 330 | 327 | |
Huntington Capital Trust I (3 month LIBOR + 0.700%) 0.826%, 2/1/27(2) | 220 | 214 | |
JPMorgan Chase & Co. | |||
0.768%, 8/9/25 | 555 | 553 | |
3.328%, 4/22/52 | 135 | 141 | |
Series U (3 month LIBOR + 0.950%) 1.076%, 2/2/37(2) | 520 | 469 | |
M&T Bank Corp. 3.500% (4) | 153 | 152 | |
NatWest Group plc | |||
2.359%, 5/22/24 | 635 | 652 | |
3.073%, 5/22/28 | 200 | 212 | |
Popular, Inc. 6.125%, 9/14/23 | 340 | 365 | |
State Street Corp. (3 month LIBOR + 1.000%) 1.116%, 6/15/47(2) | 465 | 414 |
Par Value | Value | ||
Banks—continued | |||
Sumitomo Mitsui Financial Group, Inc. 0.508%, 1/12/24 | $ 428 | $ 427 | |
Truist Financial Corp. 1.267%, 3/2/27 | 400 | 398 | |
7,287 | |||
Biotechnology—0.2% | |||
Amgen, Inc. 2.000%, 1/15/32 | 510 | 491 | |
Celgene Corp. 5.000%, 8/15/45 | 70 | 82 | |
573 | |||
Chemicals—0.3% | |||
Air Products & Chemicals, Inc. 2.800%, 5/15/50 | 141 | 141 | |
Braskem Netherlands Finance BV 144A 4.500%, 1/31/30(3) | 200 | 213 | |
LG Chem Ltd. 144A 1.375%, 7/7/26(3) | 400 | 395 | |
749 | |||
Commercial Services—0.3% | |||
Experian Finance plc 144A 2.750%, 3/8/30(3) | 200 | 207 | |
Massachusetts Institute of Technology 5.600%, 7/1/2111 | 175 | 302 | |
President & Fellows of Harvard College 4.875%, 10/15/40 | 135 | 183 | |
Trustees of Tufts College 3.099%, 8/15/51 | 135 | 142 | |
834 | |||
Computers—0.3% | |||
Apple, Inc. 2.700%, 8/5/51 | 250 | 241 | |
Dell, Inc. 7.100%, 4/15/28 | 155 | 200 | |
Leidos, Inc. | |||
2.300%, 2/15/31 | 395 | 386 | |
7.125%, 7/1/32 | 33 | 45 | |
872 | |||
Diversified Financial Services—0.7% | |||
AerCap Ireland Capital DAC 3.500%, 1/15/25 | 150 | 158 | |
American Express Co. | |||
3.550% (4) | 150 | 153 | |
3.625%, 12/5/24 | 145 | 157 | |
8.150%, 3/19/38 | 105 | 165 | |
Discover Financial Services | |||
4.100%, 2/9/27 | 190 | 212 |
Par Value | Value | ||
Diversified Financial Services—continued | |||
Series C 5.500%(4) | $ 230 | $ 249 | |
GE Capital Funding LLC 4.550%, 5/15/32 | 260 | 308 | |
Intercontinental Exchange, Inc. 2.650%, 9/15/40 | 110 | 105 | |
Synchrony Financial 4.375%, 3/19/24 | 375 | 405 | |
1,912 | |||
Electric Utilities—2.4% | |||
Alabama Power Co. 4.100%, 1/15/42 | 165 | 185 | |
Arizona Public Service Co. 5.500%, 9/1/35 | 90 | 115 | |
CMS Energy Corp. 3.600%, 11/15/25 | 175 | 189 | |
Consolidated Edison Co. of New York, Inc. Series 03-C 5.100%, 6/15/33 | 69 | 82 | |
Dominion Energy, Inc. Series C 2.250%, 8/15/31 | 200 | 199 | |
DTE Electric Co. Series A 4.050%, 5/15/48 | 120 | 143 | |
Duke Energy Corp. 3.250%, 1/15/82 | 145 | 144 | |
Duke Energy Florida LLC 2.500%, 12/1/29 | 143 | 148 | |
Duke Energy Progress LLC 3.450%, 3/15/29 | 330 | 365 | |
Edison International Series A 5.375% (4) | 155 | 160 | |
Enel Finance International N.V 144A 2.250%, 7/12/31(3) | 235 | 232 | |
Enel Finance International N.V. 144A 2.650%, 9/10/24(3) | 800 | 838 | |
Jersey Central Power & Light Co. | |||
6.150%, 6/1/37 | 270 | 359 | |
144A 2.750%, 3/1/32(3) | 205 | 210 | |
MidAmerican Energy Co. 4.250%, 7/15/49 | 50 | 62 | |
New York State Electric & Gas Corp. 144A 2.150%, 10/1/31(3) | 255 | 252 | |
NextEra Energy Capital Holdings, Inc. 1.900%, 6/15/28 | 410 | 410 | |
Niagara Mohawk Power Corp. 144A 1.960%, 6/27/30(3) | 205 | 199 |
Par Value | Value | ||
Electric Utilities—continued | |||
NRG Energy, Inc. 144A 2.450%, 12/2/27(3) | $ 527 | $ 535 | |
Pacific Gas & Electric Co. | |||
4.500%, 12/15/41 | 25 | 24 | |
4.950%, 7/1/50 | 215 | 229 | |
PacifiCorp. 2.900%, 6/15/52 | 30 | 29 | |
Pennsylvania Electric Co. | |||
6.150%, 10/1/38 | 95 | 127 | |
144A 4.150%, 4/15/25(3) | 313 | 333 | |
Public Service Co. of Colorado 4.750%, 8/15/41 | 199 | 248 | |
Sempra Energy 3.550%, 6/15/24 | 505 | 538 | |
Southern California Edison Co. 3.900%, 12/1/41 | 140 | 144 | |
Southern Co. (The) Series A 3.750%, 9/15/51 | 133 | 136 | |
Virginia Electric & Power Co. Series A 3.800%, 4/1/28 | 145 | 162 | |
6,797 | |||
Electronics—0.1% | |||
Avnet, Inc. 3.000%, 5/15/31 | 245 | 246 | |
Environmental Services—0.1% | |||
Waste Connections, Inc. 2.950%, 1/15/52 | 214 | 209 | |
Equity Real Estate Investment Trusts (REITs)—0.4% | |||
Alexandria Real Estate Equities, Inc. 2.000%, 5/18/32 | 77 | 75 | |
American Tower Corp. | |||
3.375%, 5/15/24 | 147 | 156 | |
2.750%, 1/15/27 | 475 | 499 | |
Equinix, Inc. 1.000%, 9/15/25 | 427 | 421 | |
1,151 | |||
Food & Beverage—0.2% | |||
Anheuser-Busch InBev Finance, Inc. 4.000%, 1/17/43 | 380 | 419 | |
PepsiCo, Inc. 2.875%, 10/15/49 | 200 | 204 | |
Pilgrim’s Pride Corp. 144A 3.500%, 3/1/32(3) | 39 | 39 | |
662 | |||
Healthcare-Products—0.1% | |||
PerkinElmer, Inc. 1.900%, 9/15/28 | 195 | 193 |
Par Value | Value | ||
Healthcare-Products—continued | |||
STERIS Irish FinCo Un-Ltd Co. 2.700%, 3/15/31 | $ 195 | $ 200 | |
393 | |||
Healthcare-Services—0.2% | |||
Centene Corp. 2.450%, 7/15/28 | 308 | 310 | |
HCA, Inc. 5.875%, 2/15/26 | 165 | 189 | |
499 | |||
Insurance—1.2% | |||
American International Group, Inc. | |||
3.400%, 6/30/30 | 170 | 185 | |
6.820%, 11/15/37 | 23 | 32 | |
Athene Global Funding | |||
144A 2.550%, 6/29/25(3) | 111 | 116 | |
144A 2.500%, 3/24/28(3) | 135 | 138 | |
Global Atlantic Fin Co. | |||
144A 3.125%, 6/15/31(3) | 205 | 207 | |
144A 4.700%, 10/15/51(3) | 500 | 517 | |
Liberty Mutual Group, Inc. 144A 4.125%, 12/15/51(3) | 322 | 331 | |
Lincoln National Corp. (3 month LIBOR + 2.358%) 2.482%, 5/17/66(2) | 345 | 315 | |
Massachusetts Mutual Life Insurance Co. 144A 5.077%, 2/15/69(3) | 345 | 426 | |
MetLife, Inc. 144A 9.250%, 4/8/38(3) | 145 | 220 | |
Metropolitan Life Insurance Co. 144A 7.800%, 11/1/25(3) | 215 | 266 | |
New York Life Insurance Co. 144A 4.450%, 5/15/69(3) | 80 | 100 | |
Northwestern Mutual Life Insurance Co. (The) 144A 3.850%, 9/30/47(3) | 188 | 215 | |
Pacific Life Global Funding II 144A 1.375%, 4/14/26(3) | 375 | 377 | |
3,445 | |||
Internet—0.2% | |||
Amazon.com, Inc. 3.250%, 5/12/61 | 196 | 209 | |
Netflix, Inc. 4.875%, 4/15/28 | 180 | 207 | |
416 | |||
Par Value | Value | ||
Iron & Steel—0.0% | |||
ArcelorMittal S.A. 7.000%, 10/15/39 | $ 75 | $ 106 | |
Media—0.5% | |||
Charter Communications Operating LLC | |||
2.250%, 1/15/29 | 201 | 201 | |
5.375%, 4/1/38 | 90 | 108 | |
Discovery Communications LLC 5.200%, 9/20/47 | 110 | 137 | |
Time Warner Cable LLC 6.550%, 5/1/37 | 170 | 229 | |
ViacomCBS, Inc. | |||
3.450%, 10/4/26 | 180 | 193 | |
4.200%, 5/19/32 | 62 | 71 | |
5.250%, 4/1/44 | 205 | 258 | |
6.250%, 2/28/57 | 158 | 181 | |
Walt Disney Co. (The) 3.500%, 5/13/40 | 160 | 177 | |
1,555 | |||
Multi-National—0.7% | |||
International Bank for Reconstruction & Development (SOFR + 0.370%) 0.420%, 2/11/31(2) | 2,000 | 2,009 | |
Oil, Gas & Consumable Fuels—0.3% | |||
Boston Gas Co. 144A 3.150%, 8/1/27(3) | 435 | 463 | |
Hess Corp. 7.125%, 3/15/33 | 180 | 243 | |
Marathon Petroleum Corp. 5.850%, 12/15/45 | 85 | 109 | |
Petroleos Mexicanos 4.500%, 1/23/26 | 130 | 131 | |
946 | |||
Paper & Forest Products—0.1% | |||
Fibria Overseas Finance Ltd. 5.500%, 1/17/27 | 145 | 165 | |
Suzano Austria GmbH 3.750%, 1/15/31 | 100 | 103 | |
268 | |||
Pharmaceuticals—0.4% | |||
Cigna Corp. | |||
4.125%, 11/15/25 | 175 | 194 | |
4.800%, 8/15/38 | 115 | 141 | |
CVS Health Corp. | |||
4.300%, 3/25/28 | 87 | 99 | |
2.700%, 8/21/40 | 205 | 196 | |
Shire Acquisitions Investments Ireland DAC 3.200%, 9/23/26 | 180 | 194 |
Par Value | Value | ||
Pharmaceuticals—continued | |||
Takeda Pharmaceutical Co. Ltd. 3.175%, 7/9/50 | $ 60 | $ 61 | |
Viatris, Inc. 144A 4.000%, 6/22/50(3) | 215 | 229 | |
1,114 | |||
Pipelines—0.5% | |||
El Paso Natural Gas Co. LLC 8.375%, 6/15/32 | 205 | 300 | |
Energy Transfer LP | |||
6.500%, 2/1/42 | 150 | 195 | |
Series G 7.125%(4) | 215 | 226 | |
Series H 6.500%(4) | 100 | 104 | |
NGPL PipeCo LLC 144A 3.250%, 7/15/31(3) | 80 | 82 | |
Northern Natural Gas Co. 144A 3.400%, 10/16/51(3) | 109 | 111 | |
Plains All American Pipeline LP Series B 6.125% (4) | 175 | 159 | |
Targa Resources Partners LP 5.500%, 3/1/30 | 185 | 202 | |
1,379 | |||
Retail—0.1% | |||
Lowe’s Cos., Inc. 2.800%, 9/15/41 | 193 | 188 | |
Semiconductors—0.4% | |||
Analog Devices, Inc. | |||
2.100%, 10/1/31 | 228 | 229 | |
2.800%, 10/1/41 | 260 | 260 | |
Broadcom, Inc. | |||
144A 1.950%, 2/15/28(3) | 79 | 78 | |
144A 3.137%, 11/15/35(3) | 183 | 183 | |
144A 3.500%, 2/15/41(3) | 76 | 75 | |
Intel Corp. 3.050%, 8/12/51 | 120 | 119 | |
NXP B.V. 144A 3.400%, 5/1/30(3) | 250 | 271 | |
1,215 | |||
Software—0.5% | |||
Microsoft Corp. | |||
3.500%, 11/15/42 | 275 | 316 | |
2.525%, 6/1/50 | 170 | 163 | |
MSCI, Inc. 144A 3.625%, 11/1/31(3) | 295 | 307 | |
salesforce.com, Inc. 2.900%, 7/15/51 | 154 | 154 | |
VMware, Inc. | |||
4.500%, 5/15/25 | 315 | 351 |
Par Value | Value | ||
Software—continued | |||
2.200%, 8/15/31 | $ 240 | $ 235 | |
1,526 | |||
Telecommunications—0.6% | |||
AT&T, Inc. 3.100%, 2/1/43 | 594 | 569 | |
T-Mobile USA, Inc. 2.250%, 2/15/26 | 148 | 150 | |
Verizon Communications, Inc. | |||
4.125%, 3/16/27 | 330 | 375 | |
2.100%, 3/22/28 | 150 | 152 | |
4.400%, 11/1/34 | 205 | 243 | |
2.875%, 11/20/50 | 145 | 135 | |
Vodafone Group plc 5.125%, 6/4/81 | 145 | 149 | |
1,773 | |||
Toys/Games/Hobbies—0.1% | |||
Hasbro, Inc. | |||
6.350%, 3/15/40 | 135 | 186 | |
5.100%, 5/15/44 | 75 | 91 | |
277 | |||
Total Corporate Bonds and Notes (Identified Cost $40,952) | 41,258 | ||
Shares | ||
Preferred Stock—0.1% | ||
Banks—0.1% | ||
Truist Financial Corp. Series Q, 5.100% | 125 (5) | 144 |
Total Preferred Stock (Identified Cost $125) | 144 | |
Common Stocks—13.3% | ||
Aerospace & Defense—0.1% | ||
Lockheed Martin Corp. | 320 | 110 |
Northrop Grumman Corp. | 103 | 37 |
Saab AB Class B | 5,050 | 143 |
290 | ||
Air Freight & Logistics—0.1% | ||
SG Holdings Co. Ltd. | 3,400 | 96 |
Yamato Holdings Co. Ltd. | 2,400 | 61 |
157 | ||
Airlines—0.0% | ||
Air New Zealand Ltd.(6) | 8,610 | 10 |
Banks—0.4% | ||
Agricultural Bank of China Ltd. Class H | 261,000 | 90 |
Bank of China Ltd. Class H | 158,000 | 56 |
Bank of Communications Co., Ltd. Class H | 188,000 | 111 |
Shares | Value | ||
Banks—continued | |||
Barclays plc | 6,164 | $ 16 | |
China CITIC Bank Corp. Ltd. Class H | 127,000 | 57 | |
China Construction Bank Corp. Class H | 235,000 | 168 | |
CTBC Financial Holding Co., Ltd. | 79,000 | 65 | |
E.Sun Financial Holding Co., Ltd. | 66,850 | 63 | |
HarborOne Bancorp, Inc. | 3,102 | 44 | |
HDFC Bank Ltd. ADR | 1,868 | 136 | |
Industrial & Commercial Bank of China Ltd. Class H | 66,000 | 37 | |
Mega Financial Holding Co., Ltd. | 44,000 | 50 | |
Mizuho Financial Group, Inc. | 11,600 | 164 | |
Postal Savings Bank of China Co., Ltd. Class H | 185,000 | 127 | |
Shinhan Financial Group Co. Ltd. ADR | 541 | 18 | |
Spar Nord Bank A/S | 733 | 8 | |
Tisco Financial Group PCL | 11,100 | 30 | |
1,240 | |||
Beverages—0.1% | |||
Coca-Cola Co. (The) | 2,527 | 133 | |
PepsiCo, Inc. | 1,065 | 160 | |
293 | |||
Biotechnology—0.3% | |||
Amgen, Inc. | 460 | 98 | |
BioNTech SE ADR(6) | 225 | 61 | |
Gilead Sciences, Inc. | 3,247 | 227 | |
Horizon Therapeutics plc(6) | 478 | 52 | |
Regeneron Pharmaceuticals, Inc.(6) | 330 | 200 | |
Shattuck Labs, Inc.(6) | 1,208 | 25 | |
Vertex Pharmaceuticals, Inc.(6) | 925 | 168 | |
831 | |||
Building Products—0.1% | |||
China Lesso Group Holdings Ltd. | 14,000 | 22 | |
Geberit AG | 131 | 96 | |
Nichias Corp. | 502 | 12 | |
Takasago Thermal Engineering Co., Ltd. | 2,903 | 55 | |
Trane Technologies plc | 565 | 98 | |
283 | |||
Capital Markets—0.1% | |||
Coinbase Global, Inc. Class A(6) | 370 | 84 | |
Flow Traders | 1,102 | 43 | |
Morgan Stanley | 717 | 70 | |
Nasdaq, Inc. | 523 | 101 |
Shares | Value | ||
Capital Markets—continued | |||
S&P Global, Inc. | 86 | $ 36 | |
334 | |||
Chemicals—0.4% | |||
Air Products & Chemicals, Inc. | 1,029 | 263 | |
Albemarle Corp. | 1,789 | 392 | |
Givaudan S.A. Registered Shares | 34 | 155 | |
Linde plc | 1,025 | 301 | |
Sociedad Quimica y Minera de Chile S.A Sponsored ADR | 2,520 | 135 | |
1,246 | |||
Commercial Services & Supplies—0.3% | |||
Country Garden Services Holdings Co., Ltd. | 10,000 | 79 | |
Okamura Corp. | 2,000 | 29 | |
Republic Services, Inc. Class A | 1,989 | 239 | |
Secom Co., Ltd. | 2,100 | 152 | |
SP Plus Corp.(6) | 132 | 4 | |
Waste Management, Inc. | 2,793 | 417 | |
920 | |||
Communications Equipment—0.1% | |||
Cisco Systems, Inc. | 2,676 | 145 | |
Motorola Solutions, Inc. | 838 | 195 | |
340 | |||
Construction & Engineering—0.2% | |||
Bouygues S.A | 3,595 | 149 | |
China Conch Venture Holdings Ltd. | 14,000 | 65 | |
HOCHTIEF AG | 1,566 | 125 | |
Kajima Corp. | 4,400 | 56 | |
Okumura Corp. | 1,800 | 48 | |
Sumitomo Densetsu Co., Ltd. | 1,000 | 21 | |
464 | |||
Construction Materials—0.0% | |||
Siam Cement PCL (The) | 4,900 | 58 | |
Consumer Finance—0.0% | |||
B2Holding ASA(6) | 5,084 | 6 | |
Containers & Packaging—0.0% | |||
Cascades, Inc. | 673 | 8 | |
FP Corp. | 1,200 | 45 | |
Silgan Holdings, Inc. | 1,388 | 53 | |
Toyo Seikan Group Holdings Ltd. | 900 | 11 | |
117 | |||
Distributors—0.0% | |||
Pool Corp. | 211 | 92 |
Shares | Value | ||
Diversified Consumer Services—0.0% | |||
Graham Holdings Co. Class B | 87 | $ 51 | |
Diversified Financial Services—0.1% | |||
Berkshire Hathaway, Inc. Class B(6) | 385 | 105 | |
Investor AB Class B | 4,504 | 97 | |
Yuanta Financial Holding Co., Ltd. | 62,000 | 55 | |
257 | |||
Diversified Telecommunication Services—0.7% | |||
AT&T, Inc. | 7,525 | 203 | |
Chunghwa Telecom Co. Ltd. Sponsored ADR | 1,465 | 58 | |
Deutsche Telekom AG Registered Shares | 12,176 | 244 | |
Elisa Oyj | 2,544 | 158 | |
Itissalat Al-Maghrib | 2,210 | 35 | |
KT Corp. Sponsored ADR | 4,365 | 59 | |
Magyar Telekom Telecommunications plc | 32,624 | 45 | |
Nippon Telegraph & Telephone Corp. | 9,588 | 266 | |
Orange S.A | 6,202 | 67 | |
Proximus SADP | 2,691 | 53 | |
Sarana Menara Nusantara Tbk PT | 265,200 | 24 | |
Singapore Telecommunications Ltd. | 29,500 | 53 | |
Swisscom AG Registered Shares | 132 | 76 | |
Telefonica Brasil S.A ADR | 4,343 | 34 | |
Telekom Austria AG(6) | 2,708 | 23 | |
Telstra Corp. Ltd. | 26,977 | 76 | |
Verizon Communications, Inc. | 9,580 | 517 | |
1,991 | |||
Electric Utilities—0.6% | |||
American Electric Power Co., Inc. | 886 | 72 | |
BKW AG | 111 | 12 | |
CEZ AS | 1,214 | 39 | |
CLP Holdings Ltd. | 13,719 | 132 | |
Duke Energy Corp. | 778 | 76 | |
Enel SpA | 682 | 5 | |
Hawaiian Electric Industries, Inc. | 1,443 | 59 | |
Hydro One Ltd. | 2,666 | 63 | |
Iberdrola S.A. | 8,932 | 90 | |
NextEra Energy, Inc. | 9,715 | 763 | |
Power Assets Holdings Ltd. | 16,500 | 97 | |
Southern Co. (The) | 1,178 | 73 | |
Xcel Energy, Inc. | 3,493 | 218 | |
1,699 | |||
Electrical Equipment—0.4% | |||
Generac Holdings, Inc.(6) | 724 | 296 |
Shares | Value | ||
Electrical Equipment—continued | |||
Plug Power, Inc.(6) | 8,662 | $ 221 | |
Shoals Technologies Group, Inc. Class A(6) | 8,635 | 241 | |
Sunrun, Inc.(6) | 5,365 | 236 | |
994 | |||
Electronic Equipment, Instruments & Components—0.2% | |||
ALSO Holding AG Registered Shares(6) | 76 | 22 | |
AU Optronics Corp. Sponsored ADR | 3,321 | 21 | |
Canon Marketing Japan, Inc. | 700 | 16 | |
China Railway Signal & Communication Corp. Ltd. Class H | 105,000 | 38 | |
Hon Hai Precision Industry Co. Ltd. Registered Shares, GDR | 9,580 | 72 | |
Keysight Technologies, Inc.(6) | 1,303 | 214 | |
Shibaura Electronics Co., Ltd. | 200 | 11 | |
Tripod Technology Corp. | 8,000 | 32 | |
426 | |||
Energy Equipment & Services—0.2% | |||
Baker Hughes Co. | 13,128 | 325 | |
Schlumberger N.V. | 9,316 | 276 | |
601 | |||
Entertainment—0.2% | |||
Capcom Co., Ltd. | 3,900 | 108 | |
IGG, Inc. | 22,000 | 21 | |
Koei Tecmo Holdings Co. Ltd. | 1,300 | 62 | |
NetEase, Inc. ADR | 558 | 48 | |
Nintendo Co., Ltd. | 300 | 143 | |
Take-Two Interactive Software, Inc.(6) | 285 | 44 | |
426 | |||
Equity Real Estate Investment—0.6% | |||
American Tower Corp. | 318 | 85 | |
ARA LOGOS Logistics Trust | 21,200 | 14 | |
British Land Co. plc (The) | 20,325 | 135 | |
Crown Castle International Corp. | 1,089 | 189 | |
Duke Realty Corp. | 2,806 | 134 | |
Easterly Government Properties, Inc. | 2,284 | 47 | |
Equity Residential | 966 | 78 | |
Extra Space Storage, Inc. | 1,254 | 211 | |
Fibra Uno Administracion SA de CV | 35,900 | 41 | |
Killam Apartment Real Estate Investment Trust | 1,828 | 31 | |
Land Securities Group plc | 14,706 | 137 | |
Lar Espana Real Estate Socimi S.A(6) | 1,947 | 12 | |
Life Storage, Inc. REIT | 673 | 77 |
Shares | Value | ||
Equity Real Estate Investment—continued | |||
Nippon Prologis REIT, Inc. | 33 | $ 110 | |
Public Storage | 1,078 | 320 | |
1,621 | |||
Food & Staples Retailing—0.6% | |||
Casey’s General Stores, Inc. | 183 | 35 | |
Costco Wholesale Corp. | 338 | 152 | |
Empire Co., Ltd. Class A | 2,561 | 78 | |
Etablissements Franz Colruyt N.V. | 1,605 | 82 | |
Kesko Oyj Class B | 1,983 | 68 | |
Koninklijke Ahold Delhaize N.V. | 6,377 | 212 | |
Kroger Co. (The) | 2,264 | 92 | |
Lawson, Inc. | 3,000 | 147 | |
Metro, Inc. Class A | 1,762 | 86 | |
Seven & i Holdings Co., Ltd. | 2,900 | 132 | |
Sheng Siong Group Ltd. | 25,500 | 28 | |
Sugi Holdings Co., Ltd. | 800 | 58 | |
Sumber Alfaria Trijaya Tbk PT | 660,500 | 63 | |
Walmart, Inc. | 2,560 | 357 | |
Welcia Holdings Co. Ltd. | 1,500 | 54 | |
1,644 | |||
Food Products—0.5% | |||
Ajinomoto Co., Inc. | 2,200 | 65 | |
Astral Foods Ltd. | 1,214 | 15 | |
Barry Callebaut AG | 26 | 59 | |
General Mills, Inc. | 1,225 | 74 | |
Hershey Co. (The) | 1,200 | 203 | |
Hormel Foods Corp. | 2,933 | 120 | |
J.M. Smucker Co. (The) | 1,001 | 120 | |
McCormick & Co., Inc. | 724 | 59 | |
MEIJI Holdings Co. Ltd. | 1,500 | 97 | |
Morinaga Milk Industry Co., Ltd. | 500 | 31 | |
Nestle S.A. Registered Shares | 2,060 | 248 | |
Nissin Foods Holdings Co. Ltd. | 900 | 72 | |
Prima Meat Packers Ltd. | 600 | 15 | |
Sino Grandness Food Industry Group Ltd.(6)(7) | 77,400 | — | |
Strauss Group Ltd. | 992 | 29 | |
Thai Union Group PCL Foreign Shares | 37,700 | 24 | |
Toyo Suisan Kaisha Ltd. | 1,100 | 49 | |
Uni-President Enterprises Corp. | 23,000 | 56 | |
1,336 | |||
Gas Utilities—0.0% | |||
ENN Energy Holdings Ltd. | 4,900 | 81 | |
Healthcare Equipment & Supplies—0.3% | |||
Arjo AB Class B | 3,640 | 45 | |
BioMerieux | 95 | 11 | |
Danaher Corp. | 800 | 243 | |
DiaSorin SpA | 300 | 63 |
Shares | Value | ||
Healthcare Equipment & Supplies—continued | |||
Hogy Medical Co. Ltd. | 500 | $ 14 | |
IDEXX Laboratories, Inc.(6) | 161 | 100 | |
Kossan Rubber Industries | 26,600 | 15 | |
Nipro Corp. | 2,900 | 30 | |
West Pharmaceutical Services, Inc. | 561 | 238 | |
759 | |||
Healthcare Providers & Services—0.4% | |||
Alfresa Holdings Corp. | 2,300 | 34 | |
AmerisourceBergen Corp. | 631 | 75 | |
Anthem, Inc. | 259 | 96 | |
Centene Corp.(6) | 818 | 51 | |
CVS Health Corp. | 1,295 | 110 | |
EBOS Group Ltd. | 1,399 | 34 | |
H.U. Group Holdings, Inc. | 1,900 | 52 | |
Humana, Inc. | 170 | 66 | |
Laboratory Corp. of America Holdings(6) | 329 | 93 | |
Medipal Holdings Corp. | 2,700 | 51 | |
Quest Diagnostics, Inc. | 565 | 82 | |
Sinopharm Group Co., Ltd. Class H | 17,200 | 45 | |
Summerset Group Holdings Ltd. | 7,151 | 75 | |
Toho Holdings Co. Ltd. | 1,100 | 18 | |
UnitedHealth Group, Inc. | 489 | 191 | |
1,073 | |||
Hotels, Restaurants & Leisure—0.3% | |||
Autogrill SpA(6) | 26,048 | 211 | |
Domino’s Pizza, Inc. | 182 | 87 | |
Ichibanya Co. Ltd. | 400 | 16 | |
McDonald’s Corp. | 793 | 191 | |
McDonald’s Holdings Co. Japan Ltd. | 1,400 | 66 | |
Sands China Ltd.(6) | 30,000 | 62 | |
Starbucks Corp. | 841 | 93 | |
Whitbread plc(6) | 3,315 | 147 | |
873 | |||
Household Durables—0.1% | |||
De’ Longhi SpA | 472 | 17 | |
Rinnai Corp. | 900 | 99 | |
SEB S.A | 39 | 6 | |
Sekisui House Ltd. | 3,700 | 77 | |
199 | |||
Household Products—0.3% | |||
Church & Dwight Co., Inc. | 635 | 53 | |
Clorox Co. (The) | 509 | 84 | |
Colgate-Palmolive Co. | 1,000 | 76 | |
Earth Corp. | 400 | 24 | |
Kimberly-Clark Corp. | 1,227 | 163 | |
Procter & Gamble Co. (The) | 2,620 | 366 | |
Unicharm Corp. | 300 | 13 | |
779 | |||
Shares | Value | ||
Independent Power Producers & Energy Traders—0.1% | |||
China Everbright Greentech Ltd. | 55,000 | $ 21 | |
China Longyuan Power Group Corp. Ltd. Class H | 10,000 | 25 | |
eRex Co. Ltd. | 1,400 | 31 | |
Sunnova Energy International, Inc.(6) | 8,049 | 265 | |
342 | |||
Industrial Conglomerates—0.0% | |||
Jardine Matheson Holdings Ltd. | 1,600 | 85 | |
TOKAI Holdings Corp. | 1,800 | 14 | |
99 | |||
Insurance—0.4% | |||
Aon plc Class A | 131 | 37 | |
AUB Group Ltd. | 3,083 | 52 | |
Brown & Brown, Inc. | 1,671 | 93 | |
Cincinnati Financial Corp. | 462 | 53 | |
Fubon Financial Holding Co., Ltd. | 36,300 | 99 | |
Hanover Insurance Group, Inc. (The) | 448 | 58 | |
Intact Financial Corp. | 1,224 | 162 | |
Japan Post Holdings Co., Ltd. | 10,400 | 87 | |
Legal & General Group plc | 40,173 | 151 | |
Marsh & McLennan Cos., Inc. | 560 | 85 | |
Progressive Corp. (The) | 1,780 | 161 | |
Qualitas Controladora SAB de CV | 4,100 | 19 | |
Tryg A/S | 2,448 | 56 | |
Willis Towers Watson plc | 268 | 62 | |
Zurich Insurance Group AG | 101 | 41 | |
1,216 | |||
Interactive Media & Services—0.0% | |||
Tencent Holdings Ltd. | 1,200 | 72 | |
Internet & Direct Marketing Retail—0.1% | |||
Amazon.com, Inc.(6) | 45 | 148 | |
IT Services—0.4% | |||
Accenture plc Class A | 371 | 119 | |
Automatic Data Processing, Inc. | 648 | 130 | |
Fidelity National Information Services, Inc. | 569 | 69 | |
Fiserv, Inc.(6) | 720 | 78 | |
Limelight Networks, Inc.(6) | 4,130 | 10 | |
Mastercard, Inc. Class A | 516 | 179 | |
NEC Corp. | 1,400 | 76 | |
NEC Networks & System Integration Corp. | 2,700 | 51 | |
Paychex, Inc. | 2,501 | 281 | |
Visa, Inc. Class A | 588 | 131 |
Shares | Value | ||
IT Services—continued | |||
Western Union Co. (The) | 2,783 | $ 56 | |
1,180 | |||
Leisure Products—0.0% | |||
Sankyo Co., Ltd. | 700 | 17 | |
Life Sciences Tools & Services—0.2% | |||
Bio-Rad Laboratories, Inc. Class A(6) | 145 | 108 | |
Eurofins Scientific SE | 661 | 85 | |
Tecan Group AG | 105 | 59 | |
Thermo Fisher Scientific, Inc. | 262 | 150 | |
Waters Corp.(6) | 249 | 89 | |
491 | |||
Machinery—0.2% | |||
Chart Industries, Inc.(6) | 1,956 | 374 | |
Graco, Inc. | 669 | 46 | |
Zoomlion Heavy Industry Science & Technology Co., Ltd. Class H | 23,400 | 21 | |
441 | |||
Media—0.1% | |||
Digital Holdings, Inc. | 900 | 15 | |
National CineMedia, Inc. | 706 | 3 | |
Omnicom Group, Inc. | 772 | 56 | |
Shaw Communications, Inc. Class B | 2,659 | 77 | |
151 | |||
Metals & Mining—0.4% | |||
Barrick Gold Corp. | 4,117 | 74 | |
First Quantum Minerals, Ltd. | 13,041 | 241 | |
Franco-Nevada Corp. | 1,266 | 165 | |
Freeport-McMoRan, Inc. | 8,068 | 262 | |
Newmont Corp. | 3,685 | 200 | |
POSCO Sponsored ADR | 420 | 29 | |
Tiangong International Co. Ltd. | 42,000 | 25 | |
Vale S.A Sponsored ADR | 2,782 | 39 | |
Yamana Gold, Inc. | 8,821 | 35 | |
1,070 | |||
Mortgage Real Estate Investment Trusts (REITs)—0.4% | |||
Cherry Hill Mortgage Investment Corp. | 16 | — (8) | |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 22,220 | 1,188 | |
1,188 | |||
Multiline Retail—0.1% | |||
Dollar General Corp. | 1,222 | 259 |
Shares | Value | ||
Multiline Retail—continued | |||
Target Corp. | 578 | $ 132 | |
391 | |||
Multi-Utilities—0.2% | |||
A2A SpA | 30,196 | 62 | |
CMS Energy Corp. | 1,195 | 72 | |
Consolidated Edison, Inc. | 2,070 | 150 | |
Dominion Energy, Inc. | 1,137 | 83 | |
DTE Energy Co. | 457 | 51 | |
REN - Redes Energeticas Nacionais SGPS S.A | 1,075 | 3 | |
WEC Energy Group, Inc. | 1,506 | 133 | |
554 | |||
Oil, Gas & Consumable Fuels—0.2% | |||
China Aviation Oil Singapore Corp. Ltd. | 6,900 | 5 | |
Cosmo Energy Holdings Co. Ltd. | 1,900 | 43 | |
DNO ASA(6) | 31,282 | 35 | |
DTE Midstream LLC | 228 | 11 | |
ENEOS Holdings, Inc. | 14,800 | 60 | |
Iwatani Corp. | 1,000 | 58 | |
MOL Hungarian Oil & Gas plc | 387 | 3 | |
PTT PCL | 11,800 | 13 | |
Star Petroleum Refining PCL(6) | 99,100 | 29 | |
Topaz Energy Corp. | 2,177 | 30 | |
Valero Energy Corp. | 3,841 | 271 | |
558 | |||
Personal Products—0.0% | |||
Kao Corp. | 2,000 | 119 | |
Pharmaceuticals—0.9% | |||
AstraZeneca plc | 716 | 86 | |
Bristol-Myers Squibb Co. | 2,526 | 150 | |
Dechra Pharmaceuticals plc | 276 | 18 | |
Dermapharm Holding SE | 344 | 33 | |
Eli Lilly & Co. | 1,508 | 348 | |
Johnson & Johnson | 2,534 | 409 | |
Merck & Co., Inc. | 3,786 | 284 | |
Novartis AG Registered Shares | 3,111 | 255 | |
Novo Nordisk A/S Class B | 480 | 46 | |
Organon & Co. | 378 | 12 | |
Pfizer, Inc. | 5,612 | 241 | |
Richter Gedeon Nyrt | 2,371 | 65 | |
Roche Holding AG | 664 | 242 | |
Sawai Group Holdings Co., Ltd. | 1,100 | 51 | |
Sumitomo Dainippon Pharma Co. Ltd. | 532 | 10 | |
Takeda Pharmaceutical Co., Ltd. | 2,500 | 83 | |
Viatris, Inc. | 696 | 10 |
Shares | Value | ||
Pharmaceuticals—continued | |||
Zoetis, Inc. Class A | 636 | $ 124 | |
2,467 | |||
Professional Services—0.1% | |||
Booz Allen Hamilton Holding Corp. Class A | 1,070 | 85 | |
FTI Consulting, Inc.(6) | 457 | 62 | |
LifeWorks, Inc. | 643 | 16 | |
163 | |||
Real Estate Management & Development—0.2% | |||
Allreal Holding AG Registered Shares | 16 | 3 | |
Azrieli Group Ltd. | 837 | 75 | |
Hysan Development Co., Ltd. | 36,000 | 117 | |
Intershop Holding AG | 26 | 16 | |
Mobimo Holding AG(6) | 100 | 33 | |
PSP Swiss Property AG Registered Shares | 427 | 52 | |
Swire Properties Ltd. | 49,400 | 123 | |
Swiss Prime Site AG Registered Shares | 128 | 13 | |
TLG Immobilien AG | 963 | 29 | |
WCM Beteiligungs- und Grundbesitz-AG | 4,510 | 24 | |
Wharf Real Estate Investment Co., Ltd. | 23,000 | 118 | |
Yuzhou Group Holdings Co. Ltd. | 57,804 | 9 | |
612 | |||
Road & Rail—0.0% | |||
Fukuyama Transporting Co., Ltd. | 154 | 6 | |
Senko Group Holdings Co., Ltd. | 6,204 | 57 | |
Tourism Holdings Ltd.(6) | 3,878 | 7 | |
70 | |||
Semiconductors & Semiconductor Equipment—0.4% | |||
ASE Technology Holding Co. Ltd. ADR | 20,923 | 164 | |
Enphase Energy, Inc.(6) | 1,628 | 244 | |
Himax Technologies, Inc. ADR | 8,281 | 88 | |
Intel Corp. | 1,015 | 54 | |
Novatek Microelectronics Corp. | 1,000 | 15 | |
Silicon Motion Technology Corp. ADR | 2,639 | 182 | |
SolarEdge Technologies, Inc.(6) | 1,069 | 284 |
Shares | Value | ||
Semiconductors & Semiconductor Equipment—continued | |||
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 2,052 | $ 229 | |
1,260 | |||
Software—0.3% | |||
Adobe, Inc.(6) | 209 | 120 | |
Asseco Poland S.A | 2,017 | 45 | |
Cadence Design Systems, Inc.(6) | 160 | 24 | |
Check Point Software Technologies Ltd.(6) | 321 | 36 | |
Citrix Systems, Inc. | 744 | 80 | |
Intuit, Inc. | 247 | 133 | |
J2 Global, Inc.(6) | 406 | 56 | |
Microsoft Corp. | 816 | 230 | |
Oracle Corp. | 1,726 | 150 | |
Zoom Video Communications, Inc. Class A(6) | 340 | 89 | |
963 | |||
Specialty Retail—0.2% | |||
Aoyama Trading Co., Ltd.(6) | 189 | 1 | |
AutoZone, Inc.(6) | 103 | 175 | |
DCM Holdings Co., Ltd. | 3,600 | 35 | |
Hornbach Holding AG & Co. KGaA | 269 | 35 | |
Nitori Holdings Co., Ltd. | 800 | 158 | |
O’Reilly Automotive, Inc.(6) | 296 | 181 | |
TJX Cos., Inc. (The) | 906 | 60 | |
Yamada Holdings Co., Ltd. | 11,100 | 46 | |
691 | |||
Technology Hardware, Storage & Peripherals—0.3% | |||
Apple, Inc. | 875 | 124 | |
Asustek Computer, Inc. | 9,000 | 105 | |
Canon, Inc. | 4,190 | 103 | |
FUJIFILM Holdings Corp. | 1,979 | 171 | |
Legend Holdings Corp. Class H | 6,400 | 12 | |
Lenovo Group Ltd. | 90,000 | 117 | |
Samsung Electronics Co., Ltd. Registered Shares GDR | 118 | 183 | |
815 | |||
Textiles, Apparel & Luxury Goods—0.1% | |||
Bosideng International Holdings Ltd. | 76,000 | 54 | |
Burberry Group plc | 5,214 | 127 |
Shares | Value | ||
Textiles, Apparel & Luxury Goods—continued | |||
China Dongxiang Group Co., Ltd. | 68,883 | $ 7 | |
Hermes International | 68 | 94 | |
PVH Corp.(6) | 1,270 | 131 | |
413 | |||
Thrifts & Mortgage Finance—0.0% | |||
Kearny Financial Corp. | 2,236 | 28 | |
TFS Financial Corp. | 453 | 9 | |
Waterstone Financial, Inc. | 1,038 | 21 | |
58 | |||
Trading Companies & Distributors—0.0% | |||
Solar A/S Class B | 333 | 33 | |
Watsco, Inc. | 193 | 51 | |
84 | |||
Transportation Infrastructure—0.2% | |||
Aeroports de Paris(6) | 1,081 | 138 | |
Fraport AG Frankfurt Airport Services Worldwide(6) | 2,186 | 151 | |
Getlink SE | 9,070 | 142 | |
Kamigumi Co., Ltd. | 2,200 | 46 | |
Shenzhen Expressway Co., Ltd. Class H | 8,000 | 8 | |
Sydney Airport(6) | 31,336 | 184 | |
669 | |||
Water Utilities—0.0% | |||
American Water Works Co., Inc. | 153 | 26 | |
Wireless Telecommunication Services—0.1% | |||
Advanced Info Service PCL Foreign Shares | 14,500 | 84 | |
KDDI Corp. | 4,100 | 135 | |
SK Telecom Co. Ltd. Sponsored ADR | 1,017 | 30 | |
SoftBank Corp. | 6,400 | 87 | |
T-Mobile US, Inc.(6) | 484 | 62 | |
398 | |||
Total Common Stocks (Identified Cost $36,658) | 38,217 | ||
Exchange-Traded Funds(9)—10.6% | |||
Invesco WilderHill Clean Energy ETF | 4,000 | 309 | |
iShares Core U.S. Aggregate Bond ETF | 46,479 | 5,337 |
Shares | Value | ||
iShares ESG Aware MSCI USA ETF | 116,228 | $ 11,444 | |
iShares Global Clean Energy ETF | 14,145 | 306 | |
iShares MSCI USA ESG Select ETF | 13,326 | 1,279 | |
iShares Trust iShares ESG Aware MSCI EAFE ETF | 86,959 | 6,816 | |
iShares, Inc. iShares ESG Aware MSCI EM ETF | 56,917 | 2,359 | |
PIMCO 1-5 Year U.S. TIPS Index ETF(10) | 46,000 | 2,523 | |
Total Exchange-Traded Funds (Identified Cost $29,370) | 30,373 | ||
Rights—0.0% | |||
Insurance—0.0% | |||
Fubon Financial Holding Co., Ltd.(6) | 1,257 | 1 | |
Fubon Financial Holding Co., Ltd. Preference Shares (6) | 765 | — | |
1 | |||
Total Rights (Identified Cost $—) | 1 | ||
Total Long-Term Investments—60.5% (Identified Cost $171,071) | 173,125 | ||
Short-Term Investments—35.5% | |||
Money Market Mutual Fund—3.2% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(9) | 9,203,329 | 9,203 | |
Total Money Market Mutual Fund (Identified Cost $9,203) | 9,203 | ||
Shares | Value | ||
Affiliated Mutual Fund—32.3% | |||
Virtus AllianzGI Global Sustainability Fund Institutional Shares(9)(10) | 3,521,823 | $ 92,554 | |
Total Affiliated Mutual Fund (Identified Cost $66,102) | 92,554 | ||
Total Short-Term Investments (Identified Cost $75,305) | 101,757 | ||
TOTAL INVESTMENTS—96.0% (Identified Cost $246,376) | $274,882 | ||
Other assets and liabilities, net—4.0% | 11,517 | ||
NET ASSETS—100.0% | $286,399 |
Abbreviations: | |
ACES | Alternative Credit Enhancements Securities |
ADR | American Depositary Receipt |
BIST | Borsa Istanbul |
BNP | BNP Paribas |
BTP | Italian Buonie |
CDX.EM | Credit Default Swap Index Emerging Markets |
CDX.NA.HY | Credit Default Swap Index North American High Yield |
CDX.NA.IG | Credit Default Swap Index North American Investment Grade |
CLO | Collateralized Loan Obligation |
DAX | Deutsche Boerse AG German Stock Index |
EAFE | Europe, Australasia and Far East |
ETF | Exchange-Traded Fund |
FTSE | Financial Times Stock Exchange |
GDR | Global Depositary Receipt |
JSE | Johannesburg Stock Exchange Limited |
LIBOR | London Interbank Offered Rate |
LLC | Limited Liability Company |
LP | Limited Partnership |
MIB | Milano Indice di Borsa |
MSCI | Morgan Stanley Capital International |
OAT | Obligations Assimilables du Trésor |
REIT | Real Estate Investment Trust |
S&P | Standard & Poor’s |
SOFR | Secured Overnight Financing Rate |
TIPS | Treasury-Inflation Protected Securities |
TOPIX | Tokyo Stock Price Index |
Footnote Legend: | |
(1) | All or a portion of the security is segregated as collateral for open swap contracts. |
(2) | Variable rate security. Rate disclosed is as of September 30, 2021. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $17,922 or 6.3% of net assets. |
(4) | No contractual maturity date. |
(5) | Value shown as par value. |
(6) | Non-income producing. |
(7) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(8) | Amount is less than $500. |
(9) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
(10) | Affiliated investment. See Note 4H in Notes to Financial Statements. |
Counterparties: | |
ICE | Intercontinental Exchange |
Country Weightings (Unaudited)† | |
United States | 91% |
Japan | 2 |
Cayman Islands | 1 |
Netherlands | 1 |
United Kingdom | 1 |
Switzerland | 1 |
China | 1 |
Other | 2 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | |||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) |
Long Contracts: | |||||
BIST 30 Index Future | October 2021 | 76 | $ 130 | $ — | $ (8) |
FTSE Taiwan Index Future | October 2021 | 6 | 355 | — | (8) |
IBEX 35 Index Future | October 2021 | 4 | 409 | 3 | — |
Mini Bovespa Future | October 2021 | 1 | 4 | — | — (1) |
2 Year U.S. Treasury Note Future | December 2021 | 136 | 29,927 | — | (20) |
5 Year U.S. Treasury Note Future | December 2021 | 41 | 5,032 | — | (23) |
10 Year Australian Bond Future | December 2021 | 29 | 2,966 | — | (64) |
10 Year Canadian Bond Future | December 2021 | 20 | 2,260 | — | (43) |
10 Year Euro-Bund Future | December 2021 | 1 | 197 | — | (3) |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | ||||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) | |
30 Year U.S. Treasury Bond Future | December 2021 | 8 | $ 1,274 | $ — | $ (23) | |
DAX Mini Index Future | December 2021 | 10 | 885 | — | (20) | |
E-Mini 1000 Index Future | December 2021 | 150 | 11,549 | — | (201) | |
Euro-BTP Future | December 2021 | 4 | 704 | — | (9) | |
FTSE 100 Index Future | December 2021 | 13 | 1,239 | 12 | — | |
FTSE MIB Index Future | December 2021 | 3 | 441 | — | (4) | |
FTSE/JSE Top 40 Index Future | December 2021 | 2 | 77 | — | (1) | |
MSCI EAFE Index Future | December 2021 | 74 | 8,388 | — | (380) | |
MSCI Emerging Index Future | December 2021 | 54 | 3,363 | — | (145) | |
S&P 200® Index Future | December 2021 | 4 | 527 | — | (8) | |
S&P 500® E-Mini Index Future | December 2021 | 38 | 8,166 | — | (307) | |
S&P TSX 60 Index Future | December 2021 | 4 | 755 | — | (19) | |
TOPIX Index Future | December 2021 | 18 | 3,284 | — | (26) | |
U.S. Treasury Ultra Bond Future | December 2021 | 6 | 1,146 | — | (9) | |
$ 15 | $(1,321) | |||||
Short Contracts: | ||||||
FTSE China A50 Index Future | October 2021 | (7) | (108) | — | (1) | |
10 Year Long Gilt Future | December 2021 | (9) | (1,518) | 2 | — | |
10 Year U.S. Treasury Note Future | December 2021 | (12) | (1,579) | — | — (1) | |
10 Year Ultra U.S. Treasury Bond Future | December 2021 | (186) | (27,016) | 417 | — | |
Australian Dollar Future | December 2021 | (17) | (1,230) | 15 | — | |
British Pound Future | December 2021 | (31) | (2,611) | 10 | — | |
Canadian Dollar Future | December 2021 | (5) | (395) | — (1) | — | |
Euro Currency Future | December 2021 | (48) | (6,960) | 95 | — | |
Euro-OAT Future | December 2021 | (1) | (192) | — | — (1) | |
Japanese Yen Currency Future | December 2021 | (69) | (7,746) | 78 | — | |
New Zealand Dollar Future | December 2021 | (10) | (690) | — (1) | — | |
617 | (1) | |||||
Total | $632 | $(1,322) |
Centrally cleared credit default swap - buy protection(2) outstanding as of September 30, 2021 were as follows: | |||||||||||||
Reference Entity | Payment Frequency | Counterparty | Fixed Rate | Expiration Date | Notional Amount(3) | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized (Depreciation) | ||||
CDX.EM.36 (4) | Quarterly | ICE | 1.000% | 12/20/26 | $ (900) | $ 36 | $ 36 | $— | $ — | ||||
CDX.NA.HY.37 (5) | Quarterly | ICE | 5.000% | 12/20/26 | (3,295) | (312) | (319) | 7 | — | ||||
CDX.NA.IG.37 (6) | Quarterly | ICE | 1.000% | 12/20/26 | (9,100) | (216) | (217) | 1 | — | ||||
International Business Machines Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (1,100) | (34) | (34) | — | — (1) | ||||
Southwest Airlines Co. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (395) | (2) | (1) | — | (1) | ||||
Valero Energy Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (360) | (1) | 1 | — | (2) | ||||
Total | $(529) | $ (534) | $ 8 | $ (3) |
Footnote Legend: | |
(1) | Amount is less than $500. |
(2) | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index; or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index. |
(3) | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Markit CDX.EM is composed of Sovereign issuers from Latin America, Eastern Europe, the Middle East, Africa and Asia as published by Markit from time to time |
(5) | Markit CDX.NA.HY Index, is composed of 100 of the most liquid North American entities with high yield credit ratings that trade in the credit default swap market. |
(6) | Markit CDX.NA.IG Index, is comprised of one hundred twenty five (125) of the most liquid North American entities with investment grade credit ratings as published by Markit from time to time. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | ||||
Assets: | |||||||
Debt Securities: | |||||||
Asset-Backed Securities | $ 18,354 | $ — | $ 18,354 | $— | |||
Corporate Bonds and Notes | 41,258 | — | 41,258 | — | |||
Foreign Government Security | 245 | — | 245 | — | |||
Mortgage-Backed Securities | 25,198 | — | 25,198 | — | |||
U.S. Government Securities | 19,335 | — | 19,335 | — | |||
Equity Securities: | |||||||
Common Stocks | 38,217 | 24,986 | 13,231 | — (1) | |||
Preferred Stock | 144 | — | 144 | — | |||
Rights | 1 | — | 1 | — | |||
Affiliated Mutual Fund | 92,554 | 92,554 | — | — | |||
Exchange-Traded Funds | 30,373 | 30,373 | — | — | |||
Money Market Mutual Fund | 9,203 | 9,203 | — | — | |||
Other Financial Instruments: | |||||||
Futures Contracts | 632 | 632 | — | — | |||
Centrally Cleared Credit Default Swap | 36 | — | 36 | — | |||
Total Assets | 275,550 | 157,748 | 117,802 | — (1) | |||
Liabilities: | |||||||
Other Financial Instruments: | |||||||
Futures Contracts | (1,322) | (1,322) | — | — | |||
Centrally Cleared Credit Default Swap | (565) | — | (565) | — | |||
Total Liabilities | (1,887) | (1,322) | (565) | — | |||
Total Investments | $273,663 | $156,426 | $117,237 | $— (1) |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
($ reported in thousands) | Par Value | Value | |
U.S. Government Securities—0.4% | |||
U.S. Treasury Bonds | |||
1.750%, 8/15/41 | $ 45 | $ 43 | |
2.375%, 5/15/51(1) | 112 | 120 | |
U.S. Treasury Notes | |||
0.750%, 8/31/26 | 53 | 52 | |
1.250%, 8/15/31 | 23 | 22 | |
Total U.S. Government Securities (Identified Cost $241) | 237 | ||
Foreign Government Securities—5.7% | |||
New Zealand Government Bond 1.750%, 5/15/41 | 5,000 NZD | 2,999 | |
United Mexican States 4.500%, 1/31/50 | 200 | 204 | |
Total Foreign Government Securities (Identified Cost $3,310) | 3,203 | ||
Corporate Bonds and Notes—16.2% | |||
Austria—0.0% | |||
Suzano Austria GmbH 3.750%, 1/15/31 | 20 | 21 | |
Canada—0.1% | |||
Waste Connections, Inc. 2.950%, 1/15/52 | 49 | 48 | |
Cayman Islands—0.1% | |||
Fibria Overseas Finance Ltd. 5.500%, 1/17/27 | 25 | 29 | |
Ireland—0.3% | |||
AerCap Ireland Capital DAC 3.500%, 1/15/25 | 85 | 89 | |
Shire Acquisitions Investments Ireland DAC 3.200%, 9/23/26 | 20 | 22 | |
STERIS Irish FinCo Un-Ltd Co. 2.700%, 3/15/31 | 60 | 61 | |
172 | |||
Japan—0.1% | |||
Takeda Pharmaceutical Co., Ltd. 3.025%, 7/9/40 | 40 | 41 | |
Luxembourg—0.0% | |||
ArcelorMittal S.A. 7.000%, 10/15/39 | 15 | 21 |
Par Value | Value | ||
Mexico—0.1% | |||
Petroleos Mexicanos 4.500%, 1/23/26 | $ 55 | $ 55 | |
Netherlands—0.9% | |||
Cooperatieve Rabobank UA 144A 1.106%, 2/24/27(2) | 250 | 246 | |
Enel Finance International N.V. 144A 2.650%, 9/10/24(2) | 200 | 210 | |
NXP B.V. 144A 3.400%, 5/1/30(2) | 45 | 49 | |
505 | |||
Puerto Rico—0.3% | |||
Popular, Inc. 6.125%, 9/14/23 | 165 | 177 | |
South Korea—0.3% | |||
LG Chem Ltd. 144A 1.375%, 7/7/26(2) | 200 | 198 | |
United Kingdom—0.6% | |||
BAE Systems plc 144A 3.400%, 4/15/30(2) | 80 | 86 | |
NatWest Group plc 2.359%, 5/22/24 | 200 | 205 | |
Vodafone Group plc 5.125%, 6/4/81 | 25 | 26 | |
317 | |||
United States—13.4% | |||
Air Products & Chemicals, Inc. 2.800%, 5/15/50 | 37 | 37 | |
Alabama Power Co. 4.100%, 1/15/42 | 20 | 22 | |
Alexandria Real Estate Equities, Inc. 2.000%, 5/18/32 | 18 | 17 | |
Amazon.com, Inc. 3.250%, 5/12/61 | 36 | 38 | |
American Airlines, Inc. 144A 5.500%, 4/20/26(2) | 30 | 32 | |
American Express Co. | |||
3.550% (3) | 30 | 31 | |
3.625%, 12/5/24 | 35 | 38 | |
8.150%, 3/19/38 | 45 | 71 | |
American International Group, Inc. | |||
3.400%, 6/30/30 | 25 | 27 | |
6.820%, 11/15/37 | 14 | 20 | |
American Tower Corp. | |||
3.375%, 5/15/24 | 60 | 64 | |
2.750%, 1/15/27 | 115 | 121 | |
Amgen, Inc. 2.000%, 1/15/32 | 100 | 96 | |
Analog Devices, Inc. | |||
2.100%, 10/1/31 | 54 | 54 |
Par Value | Value | ||
United States—continued | |||
2.800%, 10/1/41 | $ 60 | $ 60 | |
Anheuser-Busch InBev Finance, Inc. 4.000%, 1/17/43 | 75 | 83 | |
Apple, Inc. 2.700%, 8/5/51 | 60 | 58 | |
Arizona Public Service Co. 5.500%, 9/1/35 | 60 | 77 | |
AT&T, Inc. | |||
5.250%, 3/1/37 | 45 | 56 | |
3.100%, 2/1/43 | 108 | 104 | |
Athene Global Funding | |||
144A 2.550%, 6/29/25(2) | 35 | 36 | |
144A 2.500%, 3/24/28(2) | 25 | 26 | |
Avnet, Inc. 3.000%, 5/15/31 | 55 | 55 | |
Bank of America Corp. | |||
2.456%, 10/22/25 | 90 | 94 | |
2.496%, 2/13/31 | 80 | 81 | |
Berkshire Hathaway Finance Corp. 2.850%, 10/15/50 | 21 | 21 | |
Boeing Co. (The) | |||
4.875%, 5/1/25 | 25 | 28 | |
3.625%, 2/1/31 | 65 | 70 | |
Boston Gas Co. 144A 3.150%, 8/1/27(2) | 100 | 106 | |
Broadcom, Inc. | |||
144A 1.950%, 2/15/28(2) | 18 | 18 | |
144A 3.137%, 11/15/35(2) | 34 | 34 | |
144A 3.500%, 2/15/41(2) | 18 | 18 | |
Celgene Corp. 5.000%, 8/15/45 | 23 | 27 | |
Centene Corp. 2.450%, 7/15/28 | 59 | 59 | |
Charter Communications Operating LLC | |||
2.250%, 1/15/29 | 46 | 46 | |
5.375%, 4/1/38 | 20 | 24 | |
Cigna Corp. | |||
4.125%, 11/15/25 | 30 | 33 | |
4.800%, 8/15/38 | 20 | 24 | |
Citigroup, Inc. 0.776%, 10/30/24 | 170 | 171 | |
Consolidated Edison Co. of New York, Inc. Series 03-C 5.100%, 6/15/33 | 16 | 19 | |
CVS Health Corp. | |||
4.300%, 3/25/28 | 8 | 9 | |
4.780%, 3/25/38 | 20 | 25 | |
2.700%, 8/21/40 | 25 | 24 |
Par Value | Value | ||
United States—continued | |||
Dell, Inc. 7.100%, 4/15/28 | $ 25 | $ 32 | |
Delta Air Lines, Inc. | |||
144A 7.000%, 5/1/25(2) | 48 | 56 | |
144A 4.500%, 10/20/25(2) | 21 | 22 | |
Discover Financial Services | |||
4.100%, 2/9/27 | 30 | 33 | |
Series C 5.500%(3) | 25 | 27 | |
Discovery Communications LLC 5.200%, 9/20/47 | 25 | 31 | |
Dominion Energy, Inc. Series C 2.250%, 8/15/31 | 100 | 100 | |
DTE Electric Co. Series A 4.050%, 5/15/48 | 40 | 48 | |
Duke Energy Corp. 3.250%, 1/15/82 | 34 | 34 | |
Duke Energy Progress LLC | |||
3.450%, 3/15/29 | 85 | 94 | |
6.125%, 9/15/33 | 20 | 26 | |
Edison International Series A 5.375% (3) | 25 | 26 | |
El Paso Natural Gas Co. LLC 8.375%, 6/15/32 | 52 | 76 | |
Energy Transfer LP | |||
6.500%, 2/1/42 | 25 | 32 | |
Series G 7.125%(3) | 40 | 42 | |
Series H 6.500%(3) | 20 | 21 | |
Equinix, Inc. 1.000%, 9/15/25 | 75 | 74 | |
First Maryland Capital II (3 month LIBOR + 0.850%) 0.976%, 2/1/27(4) | 25 | 24 | |
Ford Motor Credit Co. LLC 3.350%, 11/1/22 | 185 | 188 | |
GE Capital Funding LLC 4.550%, 5/15/32 | 110 | 130 | |
General Motors Co. | |||
4.875%, 10/2/23 | 45 | 49 | |
5.150%, 4/1/38 | 50 | 60 | |
Global Atlantic Fin Co. | |||
144A 3.125%, 6/15/31(2) | 40 | 40 | |
144A 4.700%, 10/15/51(2) | 90 | 93 | |
Goldman Sachs Group, Inc. (The) 0.855%, 2/12/26 | 55 | 54 | |
Hasbro, Inc. | |||
6.350%, 3/15/40 | 25 | 35 |
Par Value | Value | ||
United States—continued | |||
5.100%, 5/15/44 | $ 25 | $ 30 | |
HCA, Inc. 5.875%, 2/15/26 | 60 | 69 | |
Hess Corp. 7.125%, 3/15/33 | 30 | 41 | |
Huntington Bancshares, Inc. Series F 5.625% (3) | 20 | 23 | |
Huntington Capital Trust I (3 month LIBOR + 0.700%) 0.826%, 2/1/27(4) | 65 | 63 | |
Intel Corp. 3.050%, 8/12/51 | 30 | 30 | |
Intercontinental Exchange, Inc. 2.650%, 9/15/40 | 25 | 24 | |
Jersey Central Power & Light Co. | |||
6.150%, 6/1/37 | 65 | 87 | |
144A 2.750%, 3/1/32(2) | 40 | 41 | |
JPMorgan Chase & Co. | |||
0.768%, 8/9/25 | 110 | 110 | |
3.328%, 4/22/52 | 25 | 26 | |
Series U (3 month LIBOR + 0.950%) 1.076%, 2/2/37(4) | 85 | 77 | |
Leidos, Inc. | |||
2.300%, 2/15/31 | 95 | 93 | |
7.125%, 7/1/32 | 8 | 11 | |
Liberty Mutual Group, Inc. 144A 4.125%, 12/15/51(2) | 76 | 78 | |
Lincoln National Corp. (3 month LIBOR + 2.358%) 2.482%, 5/17/66(4) | 45 | 41 | |
Lowe’s Cos., Inc. 2.800%, 9/15/41 | 47 | 46 | |
M&T Bank Corp. 3.500% (3) | 36 | 36 | |
Marathon Petroleum Corp. 5.850%, 12/15/45 | 45 | 58 | |
Massachusetts Institute of Technology 5.600%, 7/1/2111 | 15 | 26 | |
Massachusetts Mutual Life Insurance Co. 144A 5.077%, 2/15/69(2) | 150 | 185 | |
MetLife, Inc. 144A 9.250%, 4/8/38(2) | 95 | 144 | |
Metropolitan Life Insurance Co. 144A 7.800%, 11/1/25(2) | 130 | 161 | |
Microsoft Corp. | |||
3.500%, 11/15/42 | 65 | 75 | |
2.525%, 6/1/50 | 50 | 48 | |
MidAmerican Energy Co. 4.250%, 7/15/49 | 17 | 21 |
Par Value | Value | ||
United States—continued | |||
Mileage Plus Holdings LLC 144A 6.500%, 6/20/27(2) | $ 90 | $ 98 | |
MSCI, Inc. 144A 3.625%, 11/1/31(2) | 75 | 78 | |
Netflix, Inc. 4.875%, 4/15/28 | 55 | 63 | |
New York Life Insurance Co. 144A 4.450%, 5/15/69(2) | 20 | 25 | |
New York State Electric & Gas Corp. 144A 2.150%, 10/1/31(2) | 60 | 59 | |
NextEra Energy Capital Holdings, Inc. 1.900%, 6/15/28 | 80 | 80 | |
NGPL PipeCo LLC 144A 3.250%, 7/15/31(2) | 15 | 15 | |
Niagara Mohawk Power Corp. 144A 1.960%, 6/27/30(2) | 35 | 34 | |
Northern Natural Gas Co. 144A 3.400%, 10/16/51(2) | 22 | 22 | |
Northwestern Mutual Life Insurance Co. (The) 144A 3.850%, 9/30/47(2) | 44 | 50 | |
NRG Energy, Inc. 144A 2.450%, 12/2/27(2) | 141 | 143 | |
Omnicom Group, Inc. 2.600%, 8/1/31 | 25 | 25 | |
Pacific Gas & Electric Co. | |||
4.500%, 12/15/41 | 10 | 10 | |
4.950%, 7/1/50 | 40 | 43 | |
Pacific Life Global Funding II 144A 1.375%, 4/14/26(2) | 75 | 75 | |
PacifiCorp. 2.900%, 6/15/52 | 10 | 10 | |
Pennsylvania Electric Co. | |||
6.150%, 10/1/38 | 20 | 27 | |
144A 4.150%, 4/15/25(2) | 32 | 34 | |
PepsiCo, Inc. | |||
4.450%, 4/14/46 | 30 | 38 | |
2.875%, 10/15/49 | 50 | 51 | |
PerkinElmer, Inc. 1.900%, 9/15/28 | 45 | 45 | |
Pilgrim’s Pride Corp. 144A 3.500%, 3/1/32(2) | 11 | 11 | |
Plains All American Pipeline LP Series B 6.125% (3) | 35 | 32 | |
President & Fellows of Harvard College 4.875%, 10/15/40 | 15 | 20 | |
Public Service Co. of Colorado 4.750%, 8/15/41 | 12 | 15 |
Par Value | Value | ||
United States—continued | |||
Raytheon Technologies Corp. 7.000%, 11/1/28 | $ 100 | $ 130 | |
salesforce.com, Inc. 2.900%, 7/15/51 | 28 | 28 | |
Sempra Energy 3.550%, 6/15/24 | 30 | 32 | |
Southern California Edison Co. 3.900%, 12/1/41 | 25 | 26 | |
Southern Co. (The) Series A 3.750%, 9/15/51 | 26 | 26 | |
State Street Corp. (3 month LIBOR + 1.000%) 1.116%, 6/15/47(4) | 100 | 89 | |
Targa Resources Partners LP 5.500%, 3/1/30 | 55 | 60 | |
Time Warner Cable LLC 6.550%, 5/1/37 | 45 | 61 | |
T-Mobile USA, Inc. 2.250%, 2/15/26 | 29 | 29 | |
Truist Financial Corp. 1.267%, 3/2/27 | 80 | 80 | |
Trustees of Tufts College 3.099%, 8/15/51 | 40 | 42 | |
Union Pacific Corp. 3.750%, 2/5/70 | 13 | 15 | |
United Airlines, Inc. 144A 4.625%, 4/15/29(2) | 30 | 31 | |
Utah Acquisition Sub, Inc. 3.950%, 6/15/26 | 25 | 28 | |
Verizon Communications, Inc. | |||
4.125%, 3/16/27 | 150 | 170 | |
2.100%, 3/22/28 | 30 | 30 | |
4.400%, 11/1/34 | 35 | 41 | |
2.875%, 11/20/50 | 25 | 23 | |
ViacomCBS, Inc. | |||
4.200%, 5/19/32 | 17 | 19 | |
4.375%, 3/15/43 | 40 | 46 | |
5.250%, 4/1/44 | 20 | 25 | |
6.250%, 2/28/57 | 34 | 39 | |
Viatris, Inc. 144A 4.000%, 6/22/50(2) | 35 | 37 | |
VMware, Inc. | |||
4.500%, 5/15/25 | 60 | 67 | |
2.200%, 8/15/31 | 65 | 64 | |
Walt Disney Co. (The) 3.500%, 5/13/40 | 30 | 33 | |
7,619 | |||
Total Corporate Bonds and Notes (Identified Cost $9,150) | 9,203 | ||
Shares | Value | ||
Preferred Stocks—0.2% | |||
Brazil—0.1% | |||
Banco Bradesco S.A. | 2,390 | $ 9 | |
Cia de Saneamento do Parana | 5,700 | 4 | |
Cia Energetica de Minas Gerais | 2,194 | 6 | |
Cia Paranaense de Energia | 4,400 | 6 | |
Petroleo Brasileiro S.A. | 2,500 | 12 | |
37 | |||
Chile—0.0% | |||
Embotelladora Andina S.A. | 2,122 | 5 | |
Germany—0.1% | |||
Porsche Automobil Holding SE | 99 | 10 | |
Volkswagen AG | 77 | 17 | |
27 | |||
South Korea—0.0% | |||
Samsung Electronics Co., Ltd. | 213 | 12 | |
United States—0.0% | |||
Truist Financial Corp. Series Q, 5.100% | 20 (5) | 23 | |
Total Preferred Stocks (Identified Cost $83) | 104 | ||
Common Stocks—50.4% | |||
Argentina—0.0% | |||
MercadoLibre, Inc.(6) | 10 | 17 | |
Australia—0.4% | |||
Ansell Ltd. | 263 | 6 | |
Atlassian Corp. plc Class A(6) | 47 | 18 | |
BHP Group Ltd. | 641 | 17 | |
Brambles Ltd. | 799 | 6 | |
Commonwealth Bank of Australia | 241 | 18 | |
CSL Ltd. | 301 | 63 | |
Endeavour Group Ltd. | 478 | 2 | |
Fortescue Metals Group Ltd. | 675 | 7 | |
Harvey Norman Holdings Ltd. | 1,698 | 6 | |
Integral Diagnostics Ltd. | 1,025 | 4 | |
Medibank Pvt Ltd. | 1,178 | 3 | |
Newcrest Mining Ltd. | 96 | 2 | |
Qantas Airways Ltd.(6) | 1,384 | 6 | |
Rio Tinto Ltd. | 204 | 14 | |
Sonic Healthcare Ltd. | 301 | 9 | |
Stockland | 800 | 3 | |
Vicinity Centres | 32,308 | 38 |
Shares | Value | ||
Australia—continued | |||
Woolworths Group Ltd. | 700 | $ 20 | |
242 | |||
Austria—0.1% | |||
ams AG(6) | 240 | 4 | |
BAWAG Group AG(6) | 172 | 11 | |
Flughafen Wien AG(6) | 67 | 2 | |
OMV AG | 146 | 9 | |
Raiffeisen Bank International AG | 402 | 11 | |
Telekom Austria AG(6) | 267 | 2 | |
39 | |||
Belgium—0.0% | |||
Ageas S.A. | 58 | 3 | |
Bekaert S.A. | 131 | 5 | |
Elia Group S.A. | 21 | 3 | |
Etablissements Franz Colruyt N.V. | 57 | 3 | |
Euronav N.V. | 457 | 4 | |
Proximus SADP | 182 | 4 | |
22 | |||
Bermuda—0.2% | |||
Bunge Ltd. | 100 | 8 | |
Haitong International Securities Group Ltd. | 18,000 | 5 | |
Norwegian Cruise Line Holdings Ltd.(6) | 3,080 | 82 | |
PAX Global Technology Ltd. | 3,000 | 4 | |
99 | |||
Brazil—0.3% | |||
Banco do Brasil S.A. | 1,200 | 6 | |
EDP - Energias do Brasil S.A. | 600 | 2 | |
Engie Brasil Energia S.A. | 800 | 6 | |
StoneCo Ltd. Class A(6) | 4,387 | 152 | |
Telefonica Brasil S.A. | 600 | 5 | |
Vale S.A. | 1,145 | 16 | |
WEG S.A. | 1,200 | 9 | |
196 | |||
Canada—1.4% | |||
Agnico Eagle Mines Ltd. | 1,570 | 81 | |
Alimentation Couche-Tard, Inc. Class B | 210 | 8 | |
B2Gold Corp. | 2,156 | 7 | |
Bank of Montreal | 123 | 12 | |
Barrick Gold Corp. | 4,927 | 89 | |
Baytex Energy Corp.(6) | 1,346 | 4 | |
Canadian Natural Resources, Ltd. | 184 | 7 | |
Canadian Tire Corp., Ltd. Class A | 87 | 12 | |
Cascades, Inc. | 716 | 9 |
Shares | Value | ||
Canada—continued | |||
Cenovus Energy, Inc. | 577 | $ 6 | |
Cogeco Communications, Inc. | 150 | 13 | |
Crescent Point Energy Corp. | 346 | 2 | |
DREAM Unlimited Corp. | 525 | 12 | |
Empire Co., Ltd. Class A | 587 | 18 | |
Exchange Income Corp. | 205 | 7 | |
Fairfax Financial Holdings, Ltd. | 13 | 5 | |
First Quantum Minerals, Ltd. | 700 | 13 | |
Franco-Nevada Corp. | 178 | 23 | |
George Weston, Ltd. | 218 | 24 | |
Hydro One Ltd. | 268 | 6 | |
iA Financial Corp, Inc. | 235 | 13 | |
Intact Financial Corp. | 76 | 10 | |
InterRent Real Estate Investment Trust | 74 | 1 | |
Killam Apartment Real Estate Investment Trust | 152 | 3 | |
Kinross Gold Corp. | 15,000 | 80 | |
Kirkland Lake Gold Ltd. | 2,400 | 100 | |
LifeWorks, Inc. | 86 | 2 | |
Loblaw Cos., Ltd. | 286 | 20 | |
Manulife Financial Corp. | 937 | 18 | |
Metro, Inc. Class A | 153 | 7 | |
Mullen Group Ltd. | �� 867 | 9 | |
Open Text Corp. | 226 | 11 | |
Power Corp. of Canada | 667 | 22 | |
Shopify, Inc. Class A(6) | 33 | 45 | |
Sun Life Financial, Inc. | 305 | 16 | |
Topaz Energy Corp. | 202 | 3 | |
Waste Connections, Inc. | 132 | 17 | |
Wheaton Precious Metals Corp. | 2,106 | 79 | |
814 | |||
Cayman Islands—0.1% | |||
Wynn Macau Ltd.(6) | 91,600 | 77 | |
Chile—0.0% | |||
Engie Energia Chile S.A. | 3,778 | 3 | |
Sociedad Quimica y Minera de Chile S.A Sponsored ADR | 400 | 21 | |
24 | |||
China—2.6% | |||
Agricultural Bank of China Ltd. Class H | 25,000 | 9 | |
Alibaba Group Holding Ltd. Sponsored ADR(6) | 1,242 | 184 | |
Baidu, Inc. Sponsored ADR(6) | 57 | 9 | |
Bank of China Ltd. Class H | 63,000 | 22 | |
Bank of Communications Co., Ltd. Class H | 18,000 | 11 | |
China CITIC Bank Corp. Ltd. Class H | 12,000 | 5 |
Shares | Value | ||
China—continued | |||
China Conch Venture Holdings Ltd. | 2,500 | $ 12 | |
China Construction Bank Corp. Class H | 48,812 | 35 | |
China Dongxiang Group Co., Ltd. | 16,117 | 2 | |
China Everbright Greentech Ltd. | 8,000 | 3 | |
China Life Insurance Co., Ltd. Class H | 4,000 | 6 | |
China Minsheng Banking Corp. Ltd. Class H | 9,000 | 4 | |
China SCE Group Holdings Ltd. | 3,000 | 1 | |
China Water Affairs Group Ltd. | 2,000 | 2 | |
Chinasoft International Ltd.(6) | 4,000 | 7 | |
Chongqing Rural Commercial Bank Co., Ltd. Class H | 6,488 | 2 | |
CIFI Holdings Group Co., Ltd. | 193,000 | 131 | |
Country Garden Holdings Co., Ltd. | 90,000 | 93 | |
Country Garden Services Holdings Co., Ltd. | 3,172 | 25 | |
CSPC Pharmaceutical Group Ltd. | 11,440 | 14 | |
EVA Precision Industrial Holdings Ltd. | 20,236 | 2 | |
Golden Eagle Retail Group Ltd. | 3,000 | 3 | |
Industrial & Commercial Bank of China Ltd. Class H | 35,000 | 19 | |
JD.com, Inc. ADR(6) | 151 | 11 | |
Jiangsu Expressway Co., Ltd. Class H | 3,189 | 3 | |
Ju Teng International Holdings Ltd. | 4,744 | 1 | |
Lee & Man Paper Manufacturing Ltd. | 6,000 | 4 | |
Lenovo Group Ltd. | 26,000 | 34 | |
NetEase, Inc. ADR | 228 | 19 | |
NIO, Inc. ADR(6) | 353 | 13 | |
Postal Savings Bank of China Co., Ltd. Class H | 30,000 | 21 | |
Powerlong Real Estate Holdings Ltd. | 195,000 | 147 | |
Seazen Group Ltd.(6) | 170,000 | 136 | |
Shanghai Electric Group Co., Ltd. Class H | 18,000 | 6 | |
Shenzhen Expressway Co., Ltd. Class H | 5,700 | 6 | |
Shenzhen Investment Holdings Bay Area Development Co., Ltd. | 6,000 | 2 | |
Sinopec Engineering Group Co., Ltd. Class H | 12,000 | 6 |
Shares | Value | ||
China—continued | |||
Sinopharm Group Co., Ltd. Class H | 2,000 | $ 5 | |
Sunac China Holdings Ltd. | 58,000 | 124 | |
Tencent Holdings Ltd. | 4,781 | 285 | |
Tingyi Cayman Islands Holding Corp. | 4,000 | 7 | |
Topsports International Holdings Ltd. | 2,000 | 2 | |
Vipshop Holdings Ltd. ADR(6) | 307 | 3 | |
Xinyi Solar Holdings Ltd. | 6,000 | 12 | |
Zhuzhou CRRC Times Electric Co. Class H(6) | 1,600 | 7 | |
1,455 | |||
Colombia—0.0% | |||
Bancolombia S.A. | 939 | 8 | |
Corp. Financiera Colombiana S.A.(6) | 1,390 | 11 | |
19 | |||
Czech Republic—0.0% | |||
CEZ AS | 58 | 2 | |
Moneta Money Bank AS(6) | 492 | 2 | |
O2 Czech Republic AS(6) | 318 | 4 | |
8 | |||
Denmark—1.0% | |||
Ambu A/S Class B | 4,350 | 129 | |
Carlsberg AS Class B | 60 | 10 | |
Coloplast A/S Class B | 394 | 62 | |
D/S Norden A/S | 343 | 9 | |
DSV A/S | 861 | 206 | |
Novo Nordisk A/S Class B | 1,614 | 155 | |
Scandinavian Tobacco Group A/S | 122 | 2 | |
Solar A/S Class B | 31 | 3 | |
Spar Nord Bank A/S | 137 | 2 | |
Tryg A/S | 214 | 5 | |
583 | |||
Finland—0.1% | |||
Elisa Oyj | 376 | 23 | |
Kesko Oyj Class B | 140 | 5 | |
Oriola Oyj Class B | 700 | 1 | |
TietoEVRY Oyj | 186 | 6 | |
35 | |||
France—1.7% | |||
Accor S.A.(6) | 850 | 30 | |
Aeroports de Paris(6) | 310 | 39 | |
APERAM S.A. | 51 | 3 | |
AXA S.A. | 854 | 24 | |
BNP Paribas S.A. | 312 | 20 | |
Boiron S.A. | 31 | 1 | |
Bouygues S.A | 892 | 37 | |
Carrefour S.A. | 720 | 13 |
Shares | Value | ||
France—continued | |||
Cie de Saint-Gobain | 232 | $ 16 | |
CNP Assurances | 744 | 12 | |
Coface S.A.(6) | 627 | 8 | |
Credit Agricole S.A. | 702 | 10 | |
Dassault Aviation S.A. | 500 | 56 | |
Eiffage S.A | 376 | 38 | |
Faurecia SE | 16 | 1 | |
Getlink SE | 1,930 | 30 | |
Hermes International | 9 | 12 | |
L’Oreal S.A. | 292 | 121 | |
LVMH Moet Hennessy Louis Vuitton SE | 328 | 235 | |
Orange S.A | 2,243 | 24 | |
Publicis Groupe S.A. | 176 | 12 | |
Safran S.A. | 500 | 63 | |
Sanofi | 257 | 25 | |
Schneider Electric SE | 158 | 26 | |
SEB S.A | 7 | 1 | |
Sodexo S.A.(6) | 600 | 52 | |
Teleperformance | 38 | 15 | |
TotalEnergies SE | 439 | 21 | |
Vinci S.A. | 345 | 36 | |
981 | |||
Germany—1.9% | |||
adidas AG | 504 | 158 | |
BASF SE | 257 | 20 | |
Bayer AG Registered Shares | 211 | 11 | |
Bayerische Motoren Werke AG | 202 | 19 | |
Daimler AG Registered Shares | 294 | 26 | |
Dermapharm Holding SE | 35 | 3 | |
Deutsche Lufthansa AG Registered Shares(6) | 12,000 | 82 | |
Deutsche Post AG Registered Shares | 585 | 37 | |
Deutsche Telekom AG Registered Shares | 2,240 | 45 | |
DWS Group GmbH & Co. KGaA | 185 | 8 | |
Fraport AG Frankfurt Airport Services Worldwide(6) | 520 | 36 | |
HeidelbergCement AG | 202 | 15 | |
HOCHTIEF AG | 500 | 40 | |
Hornbach Holding AG & Co. KGaA | 85 | 11 | |
Infineon Technologies AG | 2,253 | 92 | |
LEG Immobilien SE | 42 | 6 | |
MTU Aero Engines AG | 98 | 22 | |
Nemetschek SE | 1,035 | 108 | |
SAP SE | 948 | 128 | |
Talanx AG | 31 | 1 | |
TeamViewer AG(6) | 157 | 5 | |
TLG Immobilien AG | 155 | 5 | |
TUI AG(6) | 13,100 | 57 |
Shares | Value | ||
Germany—continued | |||
WCM Beteiligungs- und Grundbesitz-AG | 518 | $ 3 | |
Zalando SE(6) | 1,291 | 118 | |
1,056 | |||
Greece—0.0% | |||
Hellenic Telecommunications Organization S.A. | 249 | 5 | |
National Bank of Greece S.A.(6) | 3,034 | 8 | |
13 | |||
Hong Kong—1.6% | |||
AIA Group Ltd. | 11,400 | 131 | |
Bosideng International Holdings Ltd. | 8,000 | 6 | |
Cathay Pacific Airways Ltd.(6) | 85,543 | 71 | |
China Jinmao Holdings Group Ltd. | 416,000 | 150 | |
China Lumena New Materials Corp.(6)(7) | 44 | — | |
China Overseas Land & Investment Ltd. | 67,000 | 152 | |
CITIC Telecom International Holdings Ltd. | 9,000 | 3 | |
CK Asset Holdings Ltd. | 2,529 | 15 | |
CLP Holdings Ltd. | 1,781 | 17 | |
Fairwood Holdings Ltd. | 1,500 | 3 | |
Global Brands Group Holding Ltd.(6)(7) | 61,400 | — | |
Hongkong Land Holdings Ltd. | 11,700 | 56 | |
Hui Xian Real Estate Investment Trust | 6,000 | 1 | |
Hysan Development Co., Ltd. | 7,000 | 23 | |
Jardine Matheson Holdings Ltd. | 300 | 16 | |
Kerry Properties Ltd. | 1,243 | 3 | |
Kingboard Holdings Ltd. | 500 | 2 | |
Link REIT | 6,377 | 55 | |
Power Assets Holdings Ltd. | 1,000 | 6 | |
Shanghai Industrial Urban Development Group Ltd. | 17,000 | 1 | |
Shimao Group Holdings Ltd. | 48,000 | 88 | |
SITC International Holdings Co., Ltd. | 2,000 | 7 | |
Sun Hung Kai Properties Ltd. | 500 | 6 | |
Vinda International Holdings Ltd. | 2,000 | 6 | |
Wharf Real Estate Investment Co., Ltd. | 11,000 | 57 | |
Xinyi Glass Holdings Ltd. | 1,000 | 3 |
Shares | Value | ||
Hong Kong—continued | |||
Yue Yuen Industrial Holdings Ltd.(6) | 698 | $ 1 | |
Yuexiu Real Estate Investment Trust | 5,000 | 2 | |
881 | |||
Hungary—0.0% | |||
Magyar Telekom Telecommunications plc | 2,911 | 4 | |
OTP Bank Nyrt(6) | 98 | 6 | |
Richter Gedeon Nyrt | 282 | 7 | |
17 | |||
India—0.2% | |||
HDFC Bank Ltd. ADR | 1,537 | 112 | |
Reliance Industries Ltd. Sponsored GDR 144A(2) | 202 | 14 | |
126 | |||
Indonesia—0.0% | |||
Indofood CBP Sukses Makmur Tbk PT | 10,700 | 6 | |
Media Nusantara Citra Tbk PT | 104,600 | 6 | |
12 | |||
Ireland—0.4% | |||
Flutter Entertainment plc(6) | 59 | 12 | |
Horizon Therapeutics plc(6) | 69 | 8 | |
Irish Residential Properties REIT plc | 403 | 1 | |
Johnson Controls International plc | 213 | 14 | |
Kingspan Group plc | 1,236 | 123 | |
Origin Enterprises plc | 320 | 1 | |
Seagate Technology Holdings plc | 179 | 15 | |
Trane Technologies plc | 119 | 20 | |
Willis Towers Watson plc | 52 | 12 | |
206 | |||
Isle of Man—0.0% | |||
Entain plc(6) | 162 | 5 | |
Israel—0.0% | |||
Alony Hetz Properties & Investments Ltd. | 445 | 7 | |
B Communications Ltd.(6) | 749 | 2 | |
Check Point Software Technologies Ltd.(6) | 39 | 4 | |
Formula Systems 1985 Ltd. | 85 | 8 |
Shares | Value | ||
Israel—continued | |||
Shufersal Ltd. | 278 | $ 2 | |
23 | |||
Italy—0.3% | |||
Assicurazioni Generali SpA | 852 | 18 | |
Atlantia SpA(6) | 1,720 | 33 | |
Autogrill SpA(6) | 3,890 | 32 | |
De’ Longhi SpA | 57 | 2 | |
DiaSorin SpA | 26 | 5 | |
Enav SpA(6) | 492 | 2 | |
Enel SpA | 2,171 | 17 | |
Intesa Sanpaolo SpA | 8,302 | 24 | |
Telecom Italia SpA | 11,193 | 4 | |
Unipol Gruppo SpA | 912 | 5 | |
142 | |||
Japan—3.8% | |||
ABC-Mart, Inc. | 3,200 | 180 | |
ADEKA Corp. | 26 | 1 | |
AGC, Inc. | 200 | 10 | |
Aida Engineering Ltd. | 142 | 1 | |
ANA Holdings, Inc.(6) | 5,000 | 130 | |
Aoyama Trading Co., Ltd.(6) | 111 | 1 | |
Asahi Kasei Corp. | 300 | 3 | |
Canon Marketing Japan, Inc. | 300 | 7 | |
Canon, Inc. | 810 | 20 | |
Capcom Co., Ltd. | 500 | 14 | |
Cawachi Ltd. | 300 | 6 | |
Central Japan Railway Co. | 800 | 128 | |
Chubu Electric Power Co., Inc. | 700 | 8 | |
Chugai Pharmaceutical Co., Ltd. | 300 | 11 | |
Daiichi Sankyo Co., Ltd. | ��� 400 | 11 | |
Daiwabo Holdings Co., Ltd. | 200 | 3 | |
DCM Holdings Co., Ltd. | 525 | 5 | |
Doutor Nichires Holdings Co., Ltd. | 451 | 7 | |
DyDo Group Holdings, Inc. | 126 | 6 | |
Earth Corp. | 100 | 6 | |
ENEOS Holdings, Inc. | 1,500 | 6 | |
FUJIFILM Holdings Corp. | 321 | 28 | |
Fukuyama Transporting Co., Ltd. | 145 | 6 | |
H.U. Group Holdings, Inc. | 200 | 5 | |
Hankyu Hanshin Holdings, Inc. | 100 | 3 | |
HIS Co., Ltd.(6) | 5,600 | 148 | |
Hitachi Ltd. | 200 | 12 | |
Honda Motor Co., Ltd. | 400 | 12 | |
Honeys Holdings Co., Ltd. | 39 | — (8) | |
Inpex Corp. | 600 | 5 |
Shares | Value | ||
Japan—continued | |||
ITOCHU Corp. | 477 | $ 14 | |
Iwatani Corp. | 200 | 12 | |
Japan Post Bank Co., Ltd. | 1,100 | 9 | |
Japan Post Holdings Co., Ltd. | 2,900 | 24 | |
Japan Wool Textile Co., Ltd. (The) | 500 | 5 | |
Kajima Corp. | 400 | 5 | |
Kakaku.com, Inc. | 3,900 | 126 | |
Kamigumi Co., Ltd. | 300 | 6 | |
Kandenko Co., Ltd. | 600 | 5 | |
Kao Corp. | 200 | 12 | |
KDDI Corp. | 800 | 26 | |
Keyence Corp. | 200 | 119 | |
Konica Minolta, Inc. | 1,500 | 8 | |
Marui Group Co., Ltd. | 6,600 | 127 | |
McDonald’s Holdings Co. Japan Ltd. | 100 | 5 | |
Mirait Holdings Corp. | 500 | 10 | |
Mitsubishi Corp. | 400 | 13 | |
Mitsubishi Electric Corp. | 400 | 6 | |
Mitsubishi Estate Co., Ltd. | 300 | 5 | |
Mitsubishi HC Capital, Inc. | 2,100 | 11 | |
Mitsubishi Research Institute, Inc. | 100 | 4 | |
Mitsuboshi Belting Ltd. | 71 | 1 | |
Mitsui & Co., Ltd. | 500 | 11 | |
Mizuho Financial Group, Inc. | 1,600 | 23 | |
MonotaRO Co., Ltd. | 1,700 | 38 | |
Morinaga Milk Industry Co., Ltd. | 100 | 6 | |
NEC Corp. | 400 | 22 | |
NGK Insulators Ltd. | 400 | 7 | |
NGK Spark Plug Co., Ltd. | 200 | 3 | |
Nihon M&A Center Holdings, Inc. | 300 | 9 | |
Nippo Corp. | 200 | 7 | |
Nippon Telegraph & Telephone Corp. | 1,316 | 37 | |
Nippon Yusen KK | 200 | 15 | |
Nitori Holdings Co., Ltd. | 100 | 20 | |
Nomura Holdings, Inc. | 2,500 | 12 | |
Nomura Real Estate Holdings, Inc. | 200 | 5 | |
Obayashi Corp. | 900 | 7 | |
Okumura Corp. | 200 | 5 | |
Oracle Corp. Japan | 100 | 9 | |
Osaka Gas Co., Ltd. | 400 | 7 | |
Raito Kogyo Co., Ltd. | 363 | 6 | |
Renesas Electronics Corp.(6) | 500 | 6 | |
Rengo Co., Ltd. | 400 | 3 | |
Rinnai Corp. | 100 | 11 | |
Rohm Co., Ltd. | 100 | 9 | |
Ryohin Keikaku Co., Ltd. | 6,000 | 134 | |
Sankyo Co., Ltd. | 300 | 8 |
Shares | Value | ||
Japan—continued | |||
Sanyo Special Steel Co., Ltd. | 182 | $ 3 | |
Sawai Group Holdings Co., Ltd. | 225 | 11 | |
Secom Co., Ltd. | 300 | 22 | |
Sekisui House Ltd. | 700 | 15 | |
Senko Group Holdings Co., Ltd. | 496 | 5 | |
Seven & i Holdings Co., Ltd. | 300 | 14 | |
Shibaura Electronics Co., Ltd. | 100 | 6 | |
SKY Perfect JSAT Holdings, Inc. | 800 | 3 | |
SoftBank Corp. | 900 | 12 | |
SoftBank Group Corp. | 300 | 17 | |
Sony Corp. | 200 | 22 | |
Sugi Holdings Co., Ltd. | 200 | 15 | |
Sumitomo Densetsu Co., Ltd. | 200 | 4 | |
Sumitomo Electric Industries Ltd. | 500 | 7 | |
Sumitomo Heavy Industries Ltd. | 300 | 8 | |
Sumitomo Mitsui Financial Group, Inc. | 400 | 14 | |
Sumitomo Rubber Industries Ltd. | 800 | 10 | |
Sysmex Corp. | 100 | 12 | |
Takasago Thermal Engineering Co., Ltd. | 397 | 8 | |
Takeda Pharmaceutical Co., Ltd. | 400 | 13 | |
TIS, Inc. | 100 | 3 | |
Tokyo Electron Ltd. | 100 | 44 | |
Towa Pharmaceutical Co., Ltd. | 214 | 6 | |
Toyo Suisan Kaisha Ltd. | 300 | 13 | |
Toyota Motor Corp. | 2,755 | 49 | |
Tv Tokyo Holdings Corp. | 166 | 3 | |
Yakult Honsha Co., Ltd. | 100 | 5 | |
Yamada Holdings Co., Ltd. | 1,500 | 6 | |
Yamaha Corp. | 100 | 6 | |
Yamaha Motor Co., Ltd. | 300 | 8 | |
Yaoko Co., Ltd. | 100 | 6 | |
Yokohama Rubber Co., Ltd. (The) | 200 | 4 | |
Yurtec Corp. | 132 | 1 | |
2,131 | |||
Jersey—0.1% | |||
Amcor plc | 51 | 1 | |
Aptiv plc(6) | 62 | 9 | |
Ferguson plc | 122 | 17 | |
27 | |||
Luxembourg—0.1% | |||
ArcelorMittal S.A. | 441 | 13 |
Shares | Value | ||
Luxembourg—continued | |||
Eurofins Scientific SE | 99 | $ 13 | |
26 | |||
Malaysia—0.1% | |||
Axis Real Estate Investment Trust | 4,100 | 2 | |
Bermaz Auto Bhd | 3,500 | 1 | |
Dialog Group Bhd | 5,400 | 3 | |
Hong Leong Bank Bhd | 1,000 | 4 | |
KNM Group Bhd(6) | 31,700 | 2 | |
Malayan Banking Bhd | 2,900 | 6 | |
MBM Resources BHD | 7,800 | 6 | |
MISC Bhd | 1,600 | 3 | |
Tenaga Nasional Bhd | 1,500 | 3 | |
TIME dotCom Bhd | 5,700 | 6 | |
36 | |||
Mexico—0.1% | |||
Alfa SAB de CV Class A | 10,100 | 7 | |
Alpek SAB de CV | 5,700 | 7 | |
Banco del Bajio S.A. | 1,800 | 4 | |
Grupo Financiero Banorte SAB de CV Class O | 1,600 | 10 | |
Grupo Financiero Inbursa SAB de CV Class O(6) | 2,500 | 2 | |
Grupo Lala SAB de CV Class B | 4 | — (8) | |
Macquarie Mexico Real Estate Management SA de CV | 5,300 | 6 | |
Nemak SAB de CV(6) | 19,369 | 5 | |
Qualitas Controladora SAB de CV | 700 | 3 | |
44 | |||
Morocco—0.0% | |||
Co. Sucrerie Marocaine et de Raffinage | 74 | 2 | |
Douja Promotion Groupe Addoha S.A.(6) | 1,239 | 2 | |
4 | |||
Netherlands—1.3% | |||
Adyen N.V.(6) | 5 | 14 | |
Aegon N.V. | 1,165 | 6 | |
AerCap Holdings N.V.(6) | 152 | 9 | |
Airbus SE(6) | 512 | 68 | |
ASM International N.V. | 36 | 14 | |
ASML Holding N.V. | 705 | 527 | |
ASR Nederland N.V. | 209 | 9 | |
Flow Traders | 102 | 4 | |
ForFarmers N.V. | 812 | 4 | |
Koninklijke Ahold Delhaize N.V. | 928 | 31 | |
NN Group N.V. | 291 | 15 | |
Prosus N.V.(6) | 126 | 10 | |
Signify N.V. | 122 | 6 |
Shares | Value | ||
Netherlands—continued | |||
Stellantis N.V. | 471 | $ 9 | |
VEON Ltd. ADR(6) | 1,300 | 3 | |
729 | |||
New Zealand—0.3% | |||
Air New Zealand Ltd.(6) | 1,891 | 2 | |
Arvida Group Ltd. | 1,779 | 3 | |
Fisher & Paykel Healthcare Corp., Ltd. | 577 | 13 | |
Kiwi Property Group Ltd. | 1,590 | 1 | |
Mainfreight Ltd. | 1,711 | 114 | |
Summerset Group Holdings Ltd. | 771 | 8 | |
141 | |||
Norway—0.1% | |||
Avance Gas Holding Ltd. | 1,399 | 7 | |
Frontline, Ltd. | 831 | 7 | |
Orkla ASA | 405 | 4 | |
Sparebanken Vest | 709 | 8 | |
TGS ASA | 423 | 4 | |
Yara International ASA | 166 | 8 | |
38 | |||
�� | |||
Panama—0.2% | |||
Carnival Corp.(6) | 3,300 | 83 | |
Peru—0.0% | |||
Ferreycorp SAA | 7,075 | ��� 3 | |
Philippines—0.0% | |||
Globe Telecom, Inc. | 70 | 4 | |
PLDT, Inc. | 95 | 3 | |
7 | |||
Poland—0.0% | |||
Asseco Poland S.A | 218 | 5 | |
Ciech S.A. | 206 | 2 | |
TEN Square Games S.A. | 70 | 9 | |
16 | |||
Portugal—0.0% | |||
Jeronimo Martins SGPS S.A. | 555 | 11 | |
REN - Redes Energeticas Nacionais SGPS S.A | 627 | 2 | |
13 | |||
Singapore—1.2% | |||
BOC Aviation Ltd. | 1,100 | 9 | |
ComfortDelGro Corp., Ltd. | 90,200 | 100 | |
DBS Group Holdings Ltd. | 600 | 13 | |
Fortune Real Estate Investment Trust | 5,000 | 5 | |
Frasers Logistics & Commercial Trust | 5,300 | 6 | |
Genting Singapore Ltd. | 248,500 | 131 |
Shares | Value | ||
Singapore—continued | |||
Parkway Life Real Estate Investment Trust | 600 | $ 2 | |
SATS Ltd.(6) | 31,600 | 96 | |
Sea Ltd. ADR(6) | 626 | 199 | |
Sheng Siong Group Ltd. | 1,900 | 2 | |
Singapore Airlines Ltd.(6) | 29,500 | 109 | |
Sino Grandness Food Industry Group Ltd.(6)(7) | 25,900 | — | |
672 | |||
South Africa—0.1% | |||
Anglo American Platinum Ltd. | 74 | 6 | |
Impala Platinum Holdings Ltd. | 1,124 | 13 | |
MTN Group Ltd.(6) | 1,903 | 18 | |
Nedbank Group Ltd. | 762 | 9 | |
Old Mutual Ltd. | 8,447 | 9 | |
Sibanye Stillwater Ltd. | 2,068 | 6 | |
Thungela Resources Ltd.(6) | 91 | 1 | |
62 | |||
South Korea—0.9% | |||
CJ CheilJedang Corp. | 14 | 5 | |
CJ Corp. | 79 | 7 | |
DB HiTek Co., Ltd. | 72 | 3 | |
DB Insurance Co., Ltd. | 97 | 5 | |
DGB Financial Group, Inc. | 503 | 4 | |
DL E&C Co., Ltd.(6) | 64 | 7 | |
GS Holdings Corp. | 127 | 5 | |
Hana Financial Group, Inc. | 231 | 9 | |
Hankook Tire & Technology Co., Ltd. | 103 | 4 | |
HDC Hyundai Development Co-Engineering & Construction | 1 | — (8) | |
JB Financial Group Co., Ltd. | 657 | 5 | |
Kakao Corp. | 92 | 9 | |
Kangwon Land, Inc.(6) | 4,820 | 116 | |
KB Financial Group, Inc. | 134 | 6 | |
KC Co., Ltd. | 70 | 1 | |
Kia Corp. | 132 | 9 | |
Korea Gas Corp.(6) | 155 | 6 | |
KT Corp. | 379 | 10 | |
KT&G Corp. | 66 | 5 | |
LG Chem Ltd. | 46 | 30 | |
LG Innotek Co., Ltd. | 49 | 8 | |
LOTTE Fine Chemical Co., Ltd. | 125 | 10 | |
LX Semicon Co., Ltd. | 46 | 4 | |
NCSoft Corp. | 17 | 9 | |
POSCO | 36 | 10 |
Shares | Value | ||
South Korea—continued | |||
Posco International Corp. | 336 | $ 7 | |
Samsung Electronics Co., Ltd. | 164 | 10 | |
Samsung Electronics Co., Ltd. Registered Shares GDR | 20 | 31 | |
Shinhan Financial Group Co., Ltd. | 305 | 10 | |
Shinsegae, Inc. | 550 | 121 | |
SK Hynix, Inc. | 134 | 11 | |
SK Telecom Co., Ltd.(6) | 37 | 10 | |
Woori Financial Group, Inc. | 682 | 7 | |
494 | |||
Spain—0.4% | |||
Aena SME S.A.(6) | 210 | 36 | |
Banco Santander S.A. | 6,155 | 22 | |
Ebro Foods S.A. | 113 | 2 | |
Ferrovial S.A. | 1,300 | 38 | |
Iberdrola S.A. | 2,843 | 29 | |
International Consolidated Airlines Group S.A.(6) | 1,561 | 4 | |
International Consolidated Airlines Group S.A.(6) | 11,290 | 27 | |
Lar Espana Real Estate Socimi S.A(6) | 137 | 1 | |
Mapfre S.A. | 6,522 | 14 | |
Mediaset Espana Comunicacion S.A.(6) | 1,102 | 6 | |
Neinor Homes S.A.(6) | 509 | 7 | |
Repsol S.A. | 1,129 | 15 | |
Telefonica S.A. | 4,480 | 21 | |
222 | |||
Sweden—0.5% | |||
Annehem Fastigheter AB Class B(6) | 42 | — (8) | |
Arjo AB Class B | 684 | 8 | |
Assa Abloy AB Class B | 3,012 | 87 | |
Atlas Copco AB Class A | 1,053 | 63 | |
Essity AB Class B | 374 | 12 | |
Getinge AB Class B | 149 | 6 | |
Hexagon AB Class B | 4,196 | 65 | |
Peab AB Class B | 211 | 2 | |
Saab AB Class B | 1,190 | 34 | |
Telefonaktiebolaget LM Ericsson Class B | 955 | 11 | |
Volvo AB Class B | 531 | 12 | |
300 | |||
Switzerland—1.4% | |||
ALSO Holding AG Registered Shares(6) | 10 | 3 | |
BKW AG | 16 | 2 | |
Chubb Ltd. | 133 | 23 |
Shares | Value | ||
Switzerland—continued | |||
Cie Financiere Richemont S.A. | 117 | $ 12 | |
Givaudan S.A. Registered Shares | 3 | 14 | |
Holcim Ltd.(6) | 171 | 8 | |
Intershop Holding AG | 4 | 2 | |
Kuehne + Nagel International AG | 39 | 13 | |
Logitech International S.A. | 102 | 9 | |
Lonza Group AG Registered Shares | 157 | 118 | |
Nestle S.A. Registered Shares | 486 | 58 | |
Novartis AG Registered Shares | 590 | 48 | |
Partners Group Holding AG | 59 | 92 | |
PSP Swiss Property AG Registered Shares | 32 | 4 | |
Roche Holding AG | 170 | 62 | |
Sika AG Registered Shares | 489 | 155 | |
Swiss Life Holding AG Registered Shares | 18 | 9 | |
Swiss Prime Site AG Registered Shares | 78 | 8 | |
Swisscom AG Registered Shares | 26 | 15 | |
Tecan Group AG | 11 | 6 | |
UBS Group AG Registered Shares | 918 | 15 | |
VAT Group AG | 262 | 103 | |
Zurich Insurance Group AG | 75 | 31 | |
810 | |||
Taiwan—1.0% | |||
Acer, Inc. | 7,000 | 6 | |
ASE Technology Holding Co., Ltd. | 4,000 | 16 | |
Asia Cement Corp. | 8,000 | 13 | |
Asustek Computer, Inc. | 2,000 | 23 | |
AU Optronics Corp. | 8,000 | 5 | |
Cathay Financial Holding Co., Ltd. | 13,000 | 27 | |
China Development Financial Holding Corp. | 13,000 | 7 | |
China Motor Corp. | 2,000 | 5 | |
Compal Electronics, Inc. | 13,000 | 11 | |
CTBC Financial Holding Co., Ltd. | 10,000 | 8 | |
E.Sun Financial Holding Co., Ltd. | 3,213 | 3 | |
Elan Microelectronics Corp. | 1,000 | 5 | |
Evergreen Marine Corp. Taiwan Ltd. | 2,000 | 9 |
Shares | Value | ||
Taiwan—continued | |||
Everlight Electronics Co., Ltd. | 4,000 | $ 7 | |
Far EasTone Telecommunications Co., Ltd. | 3,000 | 7 | |
Fubon Financial Holding Co., Ltd. | 14,300 | 39 | |
Getac Technology Corp. | 3,000 | 6 | |
Global Mixed Mode Technology, Inc. | 2,000 | 16 | |
Great Wall Enterprise Co., Ltd. | 3,553 | 7 | |
Hon Hai Precision Industry Co., Ltd. | 4,200 | 16 | |
Hua Nan Financial Holdings Co., Ltd. | 10,215 | 7 | |
Lien Hwa Industrial Holdings Corp. | 6,721 | 14 | |
Mega Financial Holding Co., Ltd. | 7,000 | 8 | |
Pegatron Corp. | 4,000 | 10 | |
Powertech Technology, Inc. | 4,000 | 15 | |
Qisda Corp. | 6,000 | 6 | |
Realtek Semiconductor Corp. | 1,500 | 26 | |
Silicon Motion Technology Corp. ADR | 158 | 11 | |
Sinbon Electronics Co., Ltd. | 2,000 | 17 | |
Taiwan Fertilizer Co., Ltd. | 1,000 | 2 | |
Taiwan PCB Techvest Co., Ltd. | 2,000 | 3 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 4,000 | 83 | |
Tripod Technology Corp. | 2,000 | 8 | |
Uni-President Enterprises Corp. | 3,000 | 7 | |
United Microelectronics Corp. | 5,000 | 11 | |
United Microelectronics Corp. Sponsored ADR | 1,557 | 18 | |
United Renewable Energy Co., Ltd.(6) | 1,889 | 1 | |
Wisdom Marine Lines Co., Ltd. | 2,118 | 6 | |
Wistron Corp. | 7,000 | 7 | |
WT Microelectronics Co., Ltd. | 1,707 | 4 | |
Yuanta Financial Holding Co., Ltd. | 43,400 | 38 | |
538 | |||
Thailand—0.3% | |||
Bangchak Corp. PCL Foreign Shares | 3,000 | 3 | |
BTS Group Holdings PCL Foreign Shares | 205,600 | 57 |
Shares | Value | ||
Thailand—continued | |||
Central Pattana PCL Foreign Shares | 36,200 | $ 56 | |
Minor International PCL Foreign Shares(6) | 70,000 | 65 | |
Thanachart Capital PCL Foreign Shares | 4,000 | 4 | |
185 | |||
Turkey—0.0% | |||
Dogus Otomotiv Servis ve Ticaret AS | 909 | 3 | |
Turkcell Iletisim Hizmetleri AS | 2,677 | 5 | |
Turkiye Garanti Bankasi AS | 5,914 | 6 | |
Turkiye Petrol Rafinerileri AS(6) | 58 | 1 | |
15 | |||
United Kingdom—1.1% | |||
3i Group plc | 452 | 8 | |
Airtel Africa plc | 6,769 | 9 | |
Anglo American plc | 857 | 30 | |
Aviva plc | 1,920 | 10 | |
Barclays plc | 5,141 | 13 | |
BHP Group plc | 569 | 14 | |
BP plc | 4,052 | 18 | |
British Land Co. plc (The) | 3,890 | 26 | |
BT Group plc(6) | 4,057 | 9 | |
Burberry Group plc | 1,058 | 26 | |
Compass Group plc(6) | 1,379 | 28 | |
Computacenter plc | 119 | 4 | |
Diageo plc | 71 | 3 | |
Diversified Energy Co. plc | 3,992 | 6 | |
easyJet plc(6) | 2,950 | 26 | |
Endeavour Mining plc | 198 | 4 | |
Firstgroup plc(6) | 22,510 | 27 | |
Gamma Communications plc | 200 | 5 | |
Halfords Group plc | 1,115 | 5 | |
Hikma Pharmaceuticals plc | 277 | 9 | |
HSBC Holdings plc | 4,005 | 21 | |
IHS Markit Ltd. | 190 | 22 | |
Indivior plc(6) | 2,260 | 7 | |
Intertek Group plc | 126 | 8 | |
J Sainsbury plc | 4,273 | 16 | |
JD Sports Fashion plc | 595 | 8 | |
Keller Group plc | 654 | 8 | |
Kingfisher plc | 2,122 | 10 | |
Legal & General Group plc | 785 | 3 | |
Linde plc | 155 | 46 | |
M&G plc | 2,329 | 6 | |
Melrose Industries plc | 1,258 | 3 | |
Micro Focus International plc | 820 | 5 |
Shares | Value | ||
United Kingdom—continued | |||
Ortho Clinical Diagnostics Holdings plc(6) | 265 | $ 5 | |
Persimmon plc | 200 | 7 | |
Premier Foods plc | 2,759 | 4 | |
Reach plc | 1,492 | 7 | |
Rio Tinto plc | 447 | 29 | |
Rolls-Royce Holdings plc(6) | 14,200 | 27 | |
Royal Dutch Shell plc Class A | 841 | 19 | |
Royal Dutch Shell plc Class B | 658 | 15 | |
SSE plc | 183 | 4 | |
SSP Group plc(6) | 7,470 | 28 | |
Virgin Money UK plc(6) | 1,098 | 3 | |
Vodafone Group plc | 7,110 | 11 | |
Whitbread plc(6) | 580 | 26 | |
628 | |||
United States—25.1% | |||
3M Co. | 93 | 16 | |
Abbott Laboratories | 502 | 59 | |
AbbVie, Inc. | 269 | 29 | |
ABM Industries, Inc. | 165 | 7 | |
Academy Sports & Outdoors, Inc.(6) | 193 | 8 | |
Accenture plc Class A | 163 | 52 | |
ACCO Brands Corp. | 673 | 6 | |
Activision Blizzard, Inc. | 989 | 77 | |
Adobe, Inc.(6) | 697 | 401 | |
Aflac, Inc. | 394 | 21 | |
AGCO Corp. | 40 | 5 | |
Agilent Technologies, Inc. | 208 | 33 | |
AGNC Investment Corp. | 1,492 | 24 | |
Air Lease Corp. Class A | 121 | 5 | |
Air Products & Chemicals, Inc. | 155 | 40 | |
Akamai Technologies, Inc.(6) | 83 | 9 | |
Albertsons Cos., Inc. Class A | 278 | 9 | |
Align Technology, Inc.(6) | 133 | 89 | |
Allstate Corp. (The) | 158 | 20 | |
Ally Financial, Inc. | 225 | 11 | |
Alphabet, Inc. Class A(6) | 106 | 283 | |
Alphabet, Inc. Class C(6) | 46 | 123 | |
Amazon.com, Inc.(6) | 156 | 512 | |
Amdocs Ltd. | 81 | 6 | |
AMERCO | 13 | 8 | |
American Airlines Group, Inc.(6) | 3,870 | 79 | |
American Electric Power Co., Inc. | 192 | 16 | |
American Equity Investment Life Holding Co. | 198 | 6 | |
American Express Co. | 500 | 84 | |
American Financial Group, Inc. | 92 | 12 |
Shares | Value | ||
United States—continued | |||
American Tower Corp. | 550 | $ 146 | |
American Water Works Co., Inc. | 122 | 21 | |
Ameriprise Financial, Inc. | 40 | 11 | |
AMETEK, Inc. | 45 | 6 | |
Amgen, Inc. | 130 | 28 | |
Amphenol Corp. Class A | 251 | 18 | |
Analog Devices, Inc. | 77 | 13 | |
Anthem, Inc. | 77 | 29 | |
Apple, Inc. | 2,150 | 304 | |
Applied Materials, Inc. | 831 | 107 | |
ArcBest Corp. | 64 | 5 | |
Arrow Electronics, Inc.(6) | 81 | 9 | |
AT&T, Inc. | 1,716 | 46 | |
Atmos Energy Corp. | 22 | 2 | |
Automatic Data Processing, Inc. | 171 | 34 | |
AutoZone, Inc.(6) | 13 | 22 | |
Baker Hughes Co. | 840 | 21 | |
Bank of America Corp. | 3,534 | 150 | |
Baxter International, Inc. | 46 | 4 | |
Beazer Homes USA, Inc.(6) | 257 | 4 | |
Berkley (W.R.) Corp. | 83 | 6 | |
Berkshire Hathaway, Inc. Class B(6) | 66 | 18 | |
Biogen, Inc.(6) | 44 | 12 | |
Bio-Rad Laboratories, Inc. Class A(6) | 16 | 12 | |
BlackRock, Inc. | 25 | 21 | |
Boeing Co. (The)(6) | 432 | 95 | |
Booz Allen Hamilton Holding Corp. Class A | 140 | 11 | |
Bristol-Myers Squibb Co. | 528 | 31 | |
Broadcom, Inc. | 69 | 33 | |
Broadstone Net Lease, Inc. | 232 | 6 | |
Camping World Holdings, Inc. Class A | 112 | 4 | |
Carlyle Group, Inc. (The) | ��� 154 | 7 | |
Carrier Global Corp. | 256 | 13 | |
Casey’s General Stores, Inc. | 20 | 4 | |
Catalent, Inc.(6) | 686 | 91 | |
Caterpillar, Inc. | 103 | 20 | |
CBTX, Inc. | 78 | 2 | |
Centene Corp.(6) | 261 | 16 | |
Central Garden & Pet Co. Class A(6) | 80 | 3 | |
Century Communities, Inc. | 62 | 4 | |
Charles Schwab Corp. (The) | 134 | 10 | |
Chemed Corp. | 12 | 6 | |
Chevron Corp. | 303 | 31 | |
Chipotle Mexican Grill, Inc. Class A(6) | 2 | 4 | |
Church & Dwight Co., Inc. | 113 | 9 | |
Cigna Corp. | 76 | 15 | |
Cincinnati Financial Corp. | 63 | 7 |
Shares | Value | ||
United States—continued | |||
Cinemark Holdings, Inc.(6) | 4,450 | $ 85 | |
Cisco Systems, Inc. | 781 | 43 | |
Citigroup, Inc. | 281 | 20 | |
Citizens Financial Group, Inc. | 285 | 13 | |
Citrix Systems, Inc. | 119 | 13 | |
Clorox Co. (The) | 107 | 18 | |
CMS Energy Corp. | 104 | 6 | |
CNA Financial Corp. | 126 | 5 | |
Coca-Cola Co. (The) | 772 | 41 | |
Colgate-Palmolive Co. | 356 | 27 | |
Comcast Corp. Class A | 258 | 14 | |
Computer Programs & Systems, Inc.(6) | 208 | 7 | |
Conagra Brands, Inc. | 258 | 9 | |
Conduent, Inc.(6) | 771 | 5 | |
ConocoPhillips | 258 | 17 | |
Consolidated Edison, Inc. | 265 | 19 | |
Cooper Cos., Inc. (The) | 368 | 152 | |
Corning, Inc. | 432 | 16 | |
Costco Wholesale Corp. | 122 | 55 | |
Crown Castle International Corp. | 759 | 132 | |
CSX Corp. | 452 | 13 | |
Cummins, Inc. | 59 | 13 | |
CVS Health Corp. | 572 | 49 | |
Danaher Corp. | 226 | 69 | |
Dave & Buster’s Entertainment, Inc.(6) | 2,220 | 85 | |
Deere & Co. | 119 | 40 | |
Dell Technologies, Inc. Class C(6) | 108 | 11 | |
Delta Air Lines, Inc.(6) | 215 | 9 | |
DENTSPLY SIRONA, Inc. | 158 | 9 | |
Dexcom, Inc.(6) | 20 | 11 | |
Digital Realty Trust, Inc. | 900 | 130 | |
Dollar General Corp. | 134 | 28 | |
Domino’s Pizza, Inc. | 18 | 9 | |
Dover Corp. | 115 | 18 | |
Dow, Inc. | 164 | 9 | |
DR Horton, Inc. | 135 | 11 | |
Duke Energy Corp. | 166 | 16 | |
Duke Realty Corp. | 2,959 | 142 | |
eBay, Inc. | 222 | 15 | |
Echo Global Logistics, Inc.(6) | 134 | 6 | |
Edwards Lifesciences Corp.(6) | 1,334 | 151 | |
Electronic Arts, Inc. | 55 | 8 | |
Eli Lilly & Co. | 300 | 69 | |
Ellington Financial, Inc. | 34 | 1 | |
Emergent BioSolutions, Inc.(6) | 181 | 9 | |
Emerson Electric Co. | 223 | 21 | |
Encompass Health Corp. | 132 | 10 | |
Ennis, Inc. | 113 | 2 | |
Entergy Corp. | 18 | 2 | |
EOG Resources, Inc. | 68 | 5 | |
Equinix, Inc. | 160 | 126 | |
Equity Commonwealth(6) | 113 | 3 |
Shares | Value | ||
United States—continued | |||
Estee Lauder Cos., Inc. (The) Class A | 569 | $ 171 | |
Exelon Corp. | 353 | 17 | |
Expeditors International of Washington, Inc. | 70 | 8 | |
Extra Space Storage, Inc. | 919 | 154 | |
Exxon Mobil Corp. | 665 | 39 | |
Facebook, Inc. Class A(6) | 646 | 219 | |
FedEx Corp. | 51 | 11 | |
Fidelity National Information Services, Inc. | 46 | 6 | |
First NBC Bank Holding Co.(7) | 1,041 | — | |
Fiserv, Inc.(6) | 36 | 4 | |
Franklin Electric Co., Inc. | 48 | 4 | |
Freeport-McMoRan, Inc. | 955 | 31 | |
Genco Shipping & Trading Ltd. | 394 | 8 | |
Generac Holdings, Inc.(6) | 44 | 18 | |
General Electric Co. | 241 | 25 | |
General Mills, Inc. | 72 | 4 | |
General Motors Co.(6) | 427 | 23 | |
Gilead Sciences, Inc. | 466 | 33 | |
Graham Holdings Co. Class B | 9 | 5 | |
Gray Television, Inc. | 233 | 5 | |
Green Brick Partners, Inc.(6) | 169 | 3 | |
Griffon Corp. | 219 | 5 | |
HarborOne Bancorp, Inc. | 288 | 4 | |
Hartford Financial Services Group, Inc. (The) | 292 | 21 | |
Hawaiian Electric Industries, Inc. | 134 | 5 | |
Heidrick & Struggles International, Inc. | 216 | 10 | |
Hershey Co. (The) | 74 | 13 | |
Hewlett Packard Enterprise Co. | 1,081 | 15 | |
Hologic, Inc.(6) | 183 | 14 | |
Home Depot, Inc. (The) | 71 | 23 | |
Honeywell International, Inc. | 154 | 33 | |
Hormel Foods Corp. | 89 | 4 | |
Host Hotels & Resorts, Inc.(6) | 4,890 | 80 | |
HP, Inc. | 552 | 15 | |
Humana, Inc. | 55 | 21 | |
IDEX Corp. | 44 | 9 | |
IDEXX Laboratories, Inc.(6) | 28 | 17 | |
IES Holdings, Inc.(6) | 89 | 4 | |
Illinois Tool Works, Inc. | 130 | 27 | |
Insight Enterprises, Inc.(6) | 12 | 1 | |
Intel Corp. | 553 | 29 | |
International Business Machines Corp. | 63 | 9 | |
International Paper Co. | 178 | 10 | |
Intuit, Inc. | 342 | 185 |
Shares | Value | ||
United States—continued | |||
Intuitive Surgical, Inc.(6) | 164 | $ 163 | |
J.M. Smucker Co. (The) | ��� 98 | 12 | |
J2 Global, Inc.(6) | 40 | 5 | |
Jack in the Box, Inc. | 78 | 8 | |
Johnson & Johnson | 567 | 92 | |
JPMorgan Chase & Co. | 977 | 160 | |
Kearny Financial Corp. | 346 | 4 | |
Kellogg Co. | 34 | 2 | |
Keysight Technologies, Inc.(6) | 115 | 19 | |
Kimberly-Clark Corp. | 101 | 13 | |
Kinder Morgan, Inc. | 492 | 8 | |
KLA Corp. | 42 | 14 | |
Knight-Swift Transportation Holdings, Inc. Class A | 207 | 11 | |
Kraft Heinz Co. (The) | 239 | 9 | |
Kroger Co. (The) | 464 | 19 | |
Laboratory Corp. of America Holdings(6) | 46 | 13 | |
Lam Research Corp. | 34 | 19 | |
Las Vegas Sands Corp.(6) | 1,800 | 66 | |
Leidos Holdings, Inc. | 59 | 6 | |
Lennar Corp. Class A | 126 | 12 | |
Lennox International, Inc. | 247 | 73 | |
Live Nation Entertainment, Inc.(6) | 910 | 83 | |
Lockheed Martin Corp. | 31 | 11 | |
Lowe’s Cos., Inc. | 143 | 29 | |
Lumen Technologies, Inc. | 1,090 | 14 | |
Marathon Petroleum Corp. | 80 | 5 | |
MarketAxess Holdings, Inc. | 147 | 62 | |
Marsh & McLennan Cos., Inc. | 31 | 5 | |
Marten Transport Ltd. | 495 | 8 | |
Mastercard, Inc. Class A | 155 | 54 | |
Matson, Inc. | 82 | 7 | |
Matthews International Corp. Class A | 148 | 5 | |
McDonald’s Corp. | 307 | 74 | |
Medtronic plc | 226 | 28 | |
Merck & Co., Inc. | 707 | 53 | |
Methode Electronics, Inc. | 223 | 9 | |
MetLife, Inc. | 348 | 21 | |
Mettler-Toledo International, Inc.(6) | 10 | 14 | |
Micron Technology, Inc. | 210 | 15 | |
Microsoft Corp. | 2,416 | 681 | |
Moderna, Inc.(6) | 87 | 33 | |
Molson Coors Beverage Co. Class B | 294 | 14 | |
Mondelez International, Inc. Class A | 342 | 20 | |
Monster Beverage Corp.(6) | 99 | 9 | |
Moody’s Corp. | 26 | 9 | |
Morgan Stanley | 300 | 29 |
Shares | Value | ||
United States—continued | |||
Mosaic Co. (The) | 591 | $ 21 | |
Motorola Solutions, Inc. | 63 | 15 | |
MSCI, Inc. Class A | 444 | 270 | |
MYR Group, Inc.(6) | 82 | 8 | |
Nasdaq, Inc. | 24 | 5 | |
NetApp, Inc. | 219 | 20 | |
Netflix, Inc.(6) | 31 | 19 | |
Newmont Corp. | 2,068 | 112 | |
NextEra Energy, Inc. | 513 | 40 | |
NIKE, Inc. Class B | 1,107 | 161 | |
Norfolk Southern Corp. | 88 | 21 | |
Northrop Grumman Corp. | 6 | 2 | |
NortonLifeLock, Inc. | 286 | 7 | |
Nucor Corp. | 102 | 10 | |
NVIDIA Corp. | 393 | 81 | |
Old Republic International Corp. | 218 | 5 | |
OneMain Holdings, Inc. | 213 | 12 | |
Oracle Corp. | 397 | 35 | |
O’Reilly Automotive, Inc.(6) | 51 | 31 | |
Organon & Co. | 92 | 3 | |
Otis Worldwide Corp. | 263 | 22 | |
Owens & Minor, Inc. | 124 | 4 | |
Owens Corning | 94 | 8 | |
Park Hotels & Resorts, Inc.(6) | 4,040 | 77 | |
Paychex, Inc. | 79 | 9 | |
PayPal Holdings, Inc.(6) | 1,130 | 294 | |
PepsiCo, Inc. | 234 | 35 | |
Pfizer, Inc. | 1,267 | 54 | |
Plug Power, Inc.(6) | 600 | 15 | |
Pool Corp. | 315 | 137 | |
Popular, Inc. | 214 | 17 | |
Procter & Gamble Co. (The) | 551 | 77 | |
Progressive Corp. (The) | 158 | 14 | |
Prologis, Inc. | 1,124 | 141 | |
Prudential Financial, Inc. | 190 | 20 | |
Public Storage | 495 | 147 | |
PulteGroup, Inc. | 206 | 9 | |
QCR Holdings, Inc. | 33 | 2 | |
Qorvo, Inc.(6) | 72 | 12 | |
QUALCOMM, Inc. | 295 | 38 | |
Quanta Services, Inc. | 67 | 8 | |
Quest Diagnostics, Inc. | 69 | 10 | |
Ralph Lauren Corp. | 680 | 76 | |
Ready Capital Corp. | 141 | 2 | |
Regeneron Pharmaceuticals, Inc.(6) | 59 | 36 | |
Reinsurance Group of America, Inc. | 96 | 11 | |
Rent-A-Center, Inc. | 73 | 4 | |
Republic Services, Inc. Class A | 216 | 26 | |
Roku, Inc. Class A (6) | 38 | 12 | |
Roper Technologies, Inc. | 203 | 91 | |
Ross Stores, Inc. | 850 | 93 |
Shares | Value | ||
United States—continued | |||
Royal Caribbean Cruises Ltd.(6) | 1,051 | $ 93 | |
S&P Global, Inc. | 822 | 349 | |
SBA Communications, Corp. Class A | 400 | 132 | |
Schlumberger N.V. | 800 | 24 | |
Schneider National, Inc. Class B | 175 | 4 | |
Schweitzer-Mauduit International, Inc. | 135 | 5 | |
Sempra Energy | 97 | 12 | |
Service Properties Trust | 7,360 | 83 | |
ServiceNow, Inc.(6) | 51 | 32 | |
Sherwin-Williams Co. (The) | 291 | 81 | |
Shoals Technologies Group, Inc. Class A(6) | 670 | 19 | |
Six Flags Entertainment Corp.(6) | 1,880 | 80 | |
Snap-on, Inc. | 64 | 13 | |
Southern Co. (The) | 147 | 9 | |
Southwest Airlines Co.(6) | 1,540 | 79 | |
SP Plus Corp.(6) | 82 | 3 | |
Square, Inc. Class A(6) | 696 | 167 | |
Star Group LP | 721 | 7 | |
Starbucks Corp. | 313 | 35 | |
Steel Dynamics, Inc. | 358 | 21 | |
Stewart Information Services Corp. | 91 | 6 | |
STORE Capital Corp. | 64 | 2 | |
Sunnova Energy International, Inc.(6) | 620 | 20 | |
Sunrun, Inc.(6) | 500 | 22 | |
Synchrony Financial | 364 | 18 | |
Synopsys, Inc.(6) | 81 | 24 | |
Take-Two Interactive Software, Inc.(6) | 32 | 5 | |
Target Corp. | 227 | 52 | |
TEGNA, Inc. | 453 | 9 | |
Telephone & Data Systems, Inc. | 257 | 5 | |
Teradyne, Inc. | 141 | 15 | |
Tesla, Inc.(6) | 32 | 25 | |
Texas Instruments, Inc. | 188 | 36 | |
Thermo Fisher Scientific, Inc. | 97 | 55 | |
T-Mobile US, Inc.(6) | 54 | 7 | |
Tyler Technologies, Inc.(6) | 279 | 128 | |
Tyson Foods, Inc. Class A | 164 | 13 | |
U.S. Bancorp | 454 | 27 | |
United Airlines Holdings, Inc.(6) | 1,710 | 81 | |
United Therapeutics Corp.(6) | 42 | 8 | |
UnitedHealth Group, Inc. | 325 | 127 | |
Unum Group | 214 | 5 | |
Valero Energy Corp. | 310 | 22 | |
Valley National Bancorp | 151 | 2 | |
Valmont Industries, Inc. | 16 | 4 |
Shares | Value | ||
United States—continued | |||
Veeva Systems, Inc. Class A(6) | 96 | $ 28 | |
VEREIT, Inc. | 110 | 5 | |
Verizon Communications, Inc. | 1,784 | 96 | |
Vertex Pharmaceuticals, Inc.(6) | 187 | 34 | |
Viatris, Inc. | 797 | 11 | |
Visa, Inc. Class A | 1,627 | 362 | |
Walgreens Boots Alliance, Inc. | 416 | 20 | |
Walmart, Inc. | 459 | 64 | |
Walt Disney Co. (The)(6) | 933 | 158 | |
Waste Management, Inc. | 370 | 55 | |
Waterstone Financial, Inc. | 139 | 3 | |
WEC Energy Group, Inc. | 280 | 25 | |
West Pharmaceutical Services, Inc. | 79 | 34 | |
Westrock Co. | 351 | 17 | |
Whirlpool Corp. | 48 | 10 | |
Williams Cos., Inc. (The) | 280 | 7 | |
Xcel Energy, Inc. | 70 | 4 | |
Xerox Holdings Corp. | 536 | 11 | |
Yum! Brands, Inc. | 94 | 11 | |
Zebra Technologies Corp. Class A(6) | 20 | 10 | |
Zions Bancorp NA | 1,370 | 85 | |
Zoetis, Inc. Class A | 840 | 163 | |
Zoom Video Communications, Inc. Class A(6) | 72 | 19 | |
14,257 | |||
Total Common Stocks (Identified Cost $23,840) | 28,573 | ||
Rights—0.0% | |||
Taiwan—0.0% | |||
Fubon Financial Holding Co., Ltd.(6) | 495 | — (8) | |
Fubon Financial Holding Co., Ltd. Preference Shares (6) | 301 | — | |
— | |||
Total Rights (Identified Cost $—) | — | ||
Warrants—0.0% | |||
Bermuda—0.0% | |||
Valaris Ltd.(6) | 5 | — (8) | |
Canada—0.0% | |||
Cenovus Energy, Inc.(6) | 65 | 1 |
Shares | Value | ||
Thailand—0.0% | |||
Minor International PCL(6) | 1,503 | $ —(8) | |
Minor International PCL(6) | 1,362 | — (8) | |
BTS Group Holdings PCL(6) | 20,000 | — | |
BTS Group Holdings PCL(6) | 40,000 | — | |
BTS Group Holdings PCL(6) | 80,000 | — | |
— | |||
Total Warrants (Identified Cost $—) | 1 | ||
Total Long-Term Investments—72.9% (Identified Cost $36,624) | 41,321 | ||
Short-Term Investment—23.9% | |||
Money Market Mutual Fund—23.9% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(9) | 13,569,177 | 13,569 | |
Total Short-Term Investment (Identified Cost $13,569) | 13,569 | ||
TOTAL INVESTMENTS—96.8% (Identified Cost $50,193) | $54,890 | ||
Other assets and liabilities, net—3.2% | 1,821 | ||
NET ASSETS—100.0% | $56,711 |
Abbreviations: | |
ADR | American Depositary Receipt |
CDX.NA.HY | Credit Default Swap Index North American High Yield |
EAFE | Europe, Australasia and Far East |
GDR | Global Depositary Receipt |
GS | Goldman Sachs & Co. |
LIBOR | London Interbank Offered Rate |
LLC | Limited Liability Company |
LP | Limited Partnership |
MSCI | Morgan Stanley Capital International |
NA | National Association |
REIT | Real Estate Investment Trust |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | All or a portion of the security is segregated as collateral for open swap contracts. |
(2) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $2,605 or 4.6% of net assets. |
(3) | No contractual maturity date. |
(4) | Variable rate security. Rate disclosed is as of September 30, 2021. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(5) | Value shown as par value. |
(6) | Non-income producing. |
(7) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(8) | Amount is less than $500. |
(9) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Counterparties: | |
ICE | Intercontinental Exchange |
Foreign Currencies: | |
EUR | Euro |
NZD | New Zealand Dollar |
USD | United States Dollar |
Country Weightings (Unaudited)† | |
United States | 65% |
New Zealand | 6 |
Japan | 4 |
China | 3 |
Netherlands | 2 |
Germany | 2 |
France | 2 |
Other | 16 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | ||||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) | |
Long Contracts: | ||||||
2 Year U.S. Treasury Note Future | December 2021 | 16 | $ 3,521 | $— | $ (2) | |
10 Year Euro-Bund Future | December 2021 | 27 | 5,311 | — | (71) | |
10 Year U.K. Long Gilt Future | December 2021 | 20 | 3,373 | — | (38) | |
Euro Stoxx 50® Future | December 2021 | 13 | 610 | — | (20) | |
MSCI EAFE® Index Future | December 2021 | 18 | 2,040 | — | (91) | |
Nasdaq 100 E-mini Future | December 2021 | 10 | 2,936 | — | (14) | |
Nikkei 225 Stock Average Future | December 2021 | 8 | 1,174 | — | (35) | |
Russell 2000 E-mini Future | December 2021 | 12 | 1,320 | — | (21) | |
S&P 200® Index Future | December 2021 | 5 | 659 | — | (5) | |
S&P MidCap 400® Index E-mini Future | December 2021 | 5 | 1,317 | — | (32) | |
Ultra U.S. Treasury Bond Future | December 2021 | 27 | 5,159 | — | (15) | |
$— | $(344) | |||||
Short Contracts: | ||||||
10 Year Australian Bond Future | December 2021 | (66) | (6,750) | 67 | — |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | ||||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) | |
10 Year U.S. Ultra Treasury Bond Future | December 2021 | (2) | $ (291) | $— (1) | $ — | |
67 | — | |||||
Total | $67 | $(344) | ||||
Footnote Legend: | ||||||
(1)Amount is less than $500. |
Centrally cleared credit default swap - buy protection(1) outstanding as of September 30, 2021 were as follows: | |||||||||||||
Reference Entity | Payment Frequency | Counterparty | Fixed Rate | Expiration Date | Notional Amount(2) | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized (Depreciation) | ||||
CDX.NA.HY.37 (3) | Quarterly | ICE | 5.000% | 12/20/26 | $(775) | $(71) | $ (73) | $ 2 | $ — | ||||
International Business Machines Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (245) | (8) | (8) | — | — | ||||
Southwest Airlines Co. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (125) | — | (—) | — | — (4) | ||||
Valero Energy Corp. Senior | Quarterly | ICE | 1.000% | 12/20/26 | (110) | (1) | — (4) | — | (1) | ||||
Total | $(80) | $ (81) | $ 2 | $ (1) |
Footnote Legend: | |
(1) | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index; or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index. |
(2) | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(3) | Markit CDX.NA.HY Index, is composed of 100 of the most liquid North American entities with high yield credit ratings that trade in the credit default swap market. |
(4) | Amount is less than $500. |
Over-the-counter volatility swaps outstanding as of September 30, 2021 were as follows: | ||||||||||||||
Referenced Entity | Pay/Receive Volatility | Volatility Strike | Payment Frequency | Counterparty | Expiration Date | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized Depreciation | ||||
S&P 500® Index(1) | Pay | 18.15% | Maturity | UBS Securities LLC | 10/15/21 | $5,000 | USD | $ 11 | $— | $11 | $ — | |||
S&P 500® Index(1) | Pay | 20.00 | Maturity | UBS Securities LLC | 10/15/21 | 5,000 | USD | 18 | — | 18 | — | |||
S&P 500® Index(1) | Pay | 15.70 | Maturity | UBS Securities LLC | 10/15/21 | 5,000 | USD | (17) | — | — | (17) | |||
S&P 500® Index(1) | Pay | 17.30 | Maturity | Citibank N.A. | 10/15/21 | 5,000 | USD | (11) | — | — | (11) | |||
Euro Stoxx® Index(1) | Pay | 20.25 | Maturity | Citibank N.A. | 10/15/21 | 5,000 | EUR | (18) | — | — | (18) | |||
S&P 500® Index(1) | Pay | 18.90 | Maturity | Citibank N.A. | 11/19/21 | 5,000 | USD | (18) | — | — | (18) | |||
S&P 500® Index(1) | Pay | 23.40 | Maturity | Citibank N.A. | 11/19/21 | 5,000 | USD | 6 | — | 6 | — | |||
S&P 500® Index(1) | Pay | 20.50 | Maturity | UBS Securities LLC | 11/19/21 | 5,000 | USD | (12) | — | — | (12) | |||
Total | $(41) | $— | $35 | $(76) |
Footnote Legend: | |
(1) | Variance Swap. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | ||||
Assets: | |||||||
Debt Securities: | |||||||
Corporate Bonds and Notes | $ 9,203 | $ — | $ 9,203 | $— | |||
Foreign Government Securities | 3,203 | — | 3,203 | — | |||
U.S. Government Securities | 237 | — | 237 | — | |||
Equity Securities: | |||||||
Common Stocks | 28,573 | 16,524 | 12,049 | — (1) | |||
Preferred Stocks | 104 | 42 | 62 | — | |||
Warrants | 1 | 1 | — | — | |||
Rights | — (2) | — (2) | — | — | |||
Money Market Mutual Fund | 13,569 | 13,569 | — | — | |||
Other Financial Instruments: | |||||||
Futures Contracts | 67 | 67 | — | — | |||
Over-the-Counter Volatility swaps | 35 | — | 35 | — | |||
Total Assets | 54,992 | 30,203 | 24,789 | — (1) | |||
Liabilities: | |||||||
Other Financial Instruments: | |||||||
Futures Contracts | (344) | (344) | — | — | |||
Over-the-Counter Volatility swaps | (76) | — | (76) | — | |||
Centrally Cleared Credit Default Swap | (80) | — | (80) | — | |||
Total Liabilities | (500) | (344) | (156) | — | |||
Total Investments | $54,492 | $29,859 | $24,633 | $— (1) |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
(2) | Amount is less than $500. |
Shares | Value | ||
Common Stocks—97.4% | |||
Australia—2.3% | |||
CSL Ltd. | 13,790 | $ 2,881 | |
Denmark—1.8% | |||
Novo Nordisk A/S Class B | 23,919 | 2,305 | |
Finland—2.3% | |||
Stora Enso Oyj Class R | 174,881 | 2,913 | |
France—2.2% | |||
Bureau Veritas S.A. | 42,292 | 1,305 | |
Kering S.A. | 2,063 | 1,465 | |
2,770 | |||
Germany—5.5% | |||
adidas AG | 8,412 | 2,644 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Registered Shares | 8,386 | 2,288 | |
SAP SE | 14,643 | 1,980 | |
6,912 | |||
Hong Kong—1.2% | |||
AIA Group Ltd. | 125,600 | 1,445 | |
Japan—5.8% | |||
Daikin Industries Ltd. | 14,400 | 3,140 | |
Keyence Corp. | 7,000 | 4,178 | |
7,318 | |||
Netherlands—2.1% | |||
ASML Holding N.V. | 3,472 | 2,594 | |
South Korea—1.6% | |||
Samsung Electronics Co., Ltd. Registered Shares GDR | 1,273 | 1,975 | |
Spain—1.8% | |||
Industria de Diseno Textil S.A. | 61,056 | 2,247 | |
Sweden—3.5% | |||
Assa Abloy AB Class B | 64,851 | 1,881 | |
Atlas Copco AB Class A | 40,954 | 2,473 | |
4,354 | |||
Switzerland—6.1% | |||
Nestle S.A. Registered Shares | 26,142 | 3,150 |
Shares | Value | ||
Switzerland—continued | |||
Roche Holding AG | 7,449 | $ 2,718 | |
UBS Group AG Registered Shares | 110,759 | 1,768 | |
7,636 | |||
United Kingdom—8.0% | |||
AstraZeneca plc | 21,555 | 2,598 | |
Prudential plc | 94,839 | 1,840 | |
Royal Dutch Shell plc Class B | 173,707 | 3,849 | |
Unilever plc | 32,767 | 1,774 | |
10,061 | |||
United States—53.2% | |||
AbbVie, Inc. | 14,969 | 1,615 | |
Accenture plc Class A | 10,631 | 3,401 | |
Adobe, Inc.(1) | 7,044 | 4,055 | |
Agilent Technologies, Inc. | 13,228 | 2,084 | |
Alphabet, Inc. Class A(1) | 1,971 | 5,270 | |
American Express Co. | 20,621 | 3,455 | |
Apple, Inc. | 47,101 | 6,665 | |
Applied Materials, Inc. | 19,189 | 2,470 | |
CME Group, Inc. Class A | 8,063 | 1,559 | |
Eaton Corp. plc | 15,661 | 2,338 | |
Estee Lauder Cos., Inc. (The) Class A | 8,320 | 2,495 | |
International Flavors & Fragrances, Inc. | 14,209 | 1,900 | |
Intuit, Inc. | 9,910 | 5,347 | |
Jackson Financial, Inc. Class A(1) | 2,370 | 62 | |
Johnson & Johnson | 12,358 | 1,996 | |
Microsoft Corp. | 15,257 | 4,301 | |
S&P Global, Inc. | 9,700 | 4,121 | |
Starbucks Corp. | 30,236 | 3,335 | |
UnitedHealth Group, Inc. | 8,320 | 3,251 | |
Visa, Inc. Class A | 21,108 | 4,702 | |
Xylem, Inc. | 19,516 | 2,414 | |
66,836 | |||
Total Common Stocks (Identified Cost $85,111) | 122,247 | ||
Total Long-Term Investments—97.4% (Identified Cost $85,111) | 122,247 | ||
Shares | Value | ||
Short-Term Investment—2.6% | |||
Money Market Mutual Fund—2.6% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 3,234,409 | $ 3,234 | |
Total Short-Term Investment (Identified Cost $3,234) | 3,234 | ||
TOTAL INVESTMENTS—100.0% (Identified Cost $88,345) | $125,481 | ||
Other assets and liabilities, net—0.0% | 44 | ||
NET ASSETS—100.0% | $125,525 |
Abbreviations: | |
GDR | Global Depositary Receipt |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 56% |
United Kingdom | 8 |
Switzerland | 6 |
Japan | 6 |
Germany | 6 |
Sweden | 3 |
Finland | 2 |
Other | 13 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $122,247 | $66,836 | $55,411 | ||
Money Market Mutual Fund | 3,234 | 3,234 | — | ||
Total Investments | $125,481 | $70,070 | $55,411 |
Par Value | Value | ||
Corporate Bonds and Notes—90.3% | |||
Advertising—0.8% | |||
Clear Channel Outdoor Holdings, Inc. | |||
144A 7.750%, 4/15/28(1) | $ 185 | $ 195 | |
144A 7.500%, 6/1/29(1) | 350 | 364 | |
559 | |||
Aerospace & Defense—2.2% | |||
TransDigm, Inc. | |||
6.375%, 6/15/26 | 650 | 670 | |
5.500%, 11/15/27 | 185 | 190 | |
Triumph Group, Inc. | |||
144A 8.875%, 6/1/24(1) | 407 | 448 | |
144A 6.250%, 9/15/24(1) | 245 | 245 | |
1,553 | |||
Airlines—1.6% | |||
American Airlines, Inc. | |||
144A 11.750%, 7/15/25(1) | 285 | 353 | |
144A 5.750%, 4/20/29(1) | 160 | 172 | |
Delta Air Lines, Inc. 7.375%, 1/15/26 | 500 | 589 | |
1,114 | |||
Auto Components—3.1% | |||
American Axle & Manufacturing, Inc. 6.500%, 4/1/27 | 380 | 396 | |
Clarios Global LP 144A 8.500%, 5/15/27(1) | 500 | 532 | |
Goodyear Tire & Rubber Co. (The) | |||
5.250%, 4/30/31 | 340 | 365 | |
144A 5.250%, 7/15/31(1) | 345 | 367 | |
Tenneco, Inc. | |||
5.000%, 7/15/26 | 335 | 330 | |
144A 7.875%, 1/15/29(1) | 150 | 168 | |
2,158 | |||
Auto Manufacturers—2.2% | |||
Ford Motor Co. | |||
9.000%, 4/22/25 | 725 | 872 | |
9.625%, 4/22/30 | 475 | 672 | |
1,544 | |||
Building Materials—2.7% | |||
APi Group DE, Inc. 144A 4.125%, 7/15/29(1) | 175 | 172 | |
Builders FirstSource, Inc. 144A 5.000%, 3/1/30(1) | 430 | 458 | |
Griffon Corp. 5.750%, 3/1/28 | 320 | 336 | |
Koppers, Inc. 144A 6.000%, 2/15/25(1) | 360 | 368 |
Par Value | Value | ||
Building Materials—continued | |||
Summit Materials LLC 144A 5.250%, 1/15/29(1) | $ 535 | $ 562 | |
1,896 | |||
Chemicals—1.0% | |||
Tronox, Inc. 144A 4.625%, 3/15/29(1) | 345 | 343 | |
WR Grace Holdings LLC 144A 5.625%, 8/15/29(1) | 325 | 335 | |
678 | |||
Commercial Services—3.8% | |||
ADT Security Corp. (The) 144A 4.125%, 8/1/29(1) | 345 | 343 | |
Avis Budget Car Rental LLC 144A 5.375%, 3/1/29(1) | 485 | 513 | |
Deluxe Corp. 144A 8.000%, 6/1/29(1) | 480 | 502 | |
HealthEquity, Inc. 144A 4.500%, 10/1/29(1) | 170 | 172 | |
Herc Holdings, Inc. 144A 5.500%, 7/15/27(1) | 265 | 278 | |
NESCO Holdings II, Inc. 144A 5.500%, 4/15/29(1) | 330 | 342 | |
RR Donnelley & Sons Co. 7.000%, 2/15/22 | 193 | 196 | |
United Rentals North America, Inc. 5.250%, 1/15/30 | 315 | 345 | |
2,691 | |||
Computers—0.5% | |||
NCR Corp. 144A 5.125%, 4/15/29(1) | 325 | 335 | |
Containers & Packaging—1.9% | |||
Berry Global, Inc. 144A 5.625%, 7/15/27(1) | 250 | 264 | |
Owens-Brockway Glass Container, Inc. 144A 6.625%, 5/13/27(1) | 460 | 493 | |
Trivium Packaging Finance B.V. 144A 8.500%, 8/15/27(1) | 525 | 564 | |
1,321 | |||
Cosmetics & Personal Care—0.3% | |||
Edgewell Personal Care Co. 144A 5.500%, 6/1/28(1) | 220 | 232 | |
Diversified Financial Services—3.9% | |||
Coinbase Global, Inc. 144A 3.625%, 10/1/31(1) | 240 | 228 | |
Nationstar Mortgage Holdings, Inc. 144A 5.500%, 8/15/28(1) | 495 | 510 |
Par Value | Value | ||
Diversified Financial Services—continued | |||
Navient Corp. | |||
6.750%, 6/15/26 | $ 395 | $ 436 | |
4.875%, 3/15/28 | 160 | 161 | |
OneMain Finance Corp. | |||
6.625%, 1/15/28 | 790 | 909 | |
5.375%, 11/15/29 | 180 | 195 | |
PennyMac Financial Services, Inc. 144A 4.250%, 2/15/29(1) | 320 | 305 | |
2,744 | |||
Electronic Equipment, Instruments & Components—0.7% | |||
WESCO Distribution, Inc. 144A 7.250%, 6/15/28(1) | 445 | 493 | |
Entertainment—5.2% | |||
Caesars Entertainment, Inc. | |||
144A 8.125%, 7/1/27(1) | 785 | 882 | |
144A 4.625%, 10/15/29(1) | 170 | 172 | |
Cedar Fair LP 5.375%, 4/15/27 | 480 | 493 | |
International Game Technology plc 144A 6.250%, 1/15/27(1) | 400 | 452 | |
Lions Gate Capital Holdings LLC 144A 5.500%, 4/15/29(1) | 470 | 486 | |
Live Nation Entertainment, Inc. 144A 4.750%, 10/15/27(1) | 480 | 488 | |
Scientific Games International, Inc. 144A 8.250%, 3/15/26(1) | 600 | 637 | |
3,610 | |||
Environmental Services—0.7% | |||
GFL Environmental, Inc. 144A 4.750%, 6/15/29(1) | 505 | 519 | |
Equity Real Estate Investment Trusts (REITs)—1.7% | |||
Iron Mountain, Inc. 144A 5.250%, 7/15/30(1) | 490 | 520 | |
Park Intermediate Holdings LLC 144A 4.875%, 5/15/29(1) | 340 | 350 | |
Service Properties Trust | |||
4.350%, 10/1/24 | 150 | 152 | |
4.500%, 3/15/25 | 200 | 200 | |
1,222 | |||
Food & Beverage—4.1% | |||
Kraft Heinz Foods Co. | |||
5.000%, 7/15/35 | 145 | 178 | |
6.500%, 2/9/40 | 455 | 646 |
Par Value | Value | ||
Food & Beverage—continued | |||
Performance Food Group, Inc. 144A 4.250%, 8/1/29(1) | $ 345 | $ 346 | |
Post Holdings, Inc. 144A 4.500%, 9/15/31(1) | 345 | 341 | |
Simmons Foods, Inc. 144A 4.625%, 3/1/29(1) | 360 | 363 | |
Triton Water Holdings, Inc. 144A 6.250%, 4/1/29(1) | 505 | 513 | |
US Foods, Inc. 144A 4.750%, 2/15/29(1) | 460 | 472 | |
2,859 | |||
Food Service—0.2% | |||
Aramark Services, Inc. 144A 5.000%, 2/1/28(1) | 150 | 154 | |
Healthcare-Products—0.3% | |||
Mozart Debt Merger Sub, Inc. 144A 5.250%, 10/1/29(1) | 180 | 183 | |
Healthcare-Services—2.6% | |||
Encompass Health Corp. 4.750%, 2/1/30 | 210 | 221 | |
HCA, Inc. 5.625%, 9/1/28 | 310 | 369 | |
ModivCare Escrow Issuer, Inc. 144A 5.000%, 10/1/29(1) | 200 | 207 | |
Select Medical Corp. 144A 6.250%, 8/15/26(1) | 325 | 342 | |
Tenet Healthcare Corp. 144A 6.125%, 10/1/28(1) | 645 | 677 | |
1,816 | |||
Home Builders—1.2% | |||
Picasso Finance Sub, Inc. 144A 6.125%, 6/15/25(1) | 360 | 381 | |
Taylor Morrison Communities, Inc. 144A 5.750%, 1/15/28(1) | 400 | 445 | |
826 | |||
Home Furnishings—0.5% | |||
Tempur Sealy International, Inc. 144A 3.875%, 10/15/31(1) | 340 | 340 | |
Internet—1.6% | |||
Netflix, Inc. 144A 5.375%, 11/15/29(1) | 300 | 363 | |
Uber Technologies, Inc. | |||
144A 8.000%, 11/1/26(1) | 265 | 280 |
Par Value | Value | ||
Internet—continued | |||
144A 7.500%, 9/15/27(1) | $ 445 | $ 486 | |
1,129 | |||
Investment Companies—0.5% | |||
Compass Group Diversified Holdings LLC 144A 5.250%, 4/15/29(1) | 350 | 366 | |
Iron & Steel—2.0% | |||
Cleveland-Cliffs, Inc. | |||
5.875%, 6/1/27 | 495 | 512 | |
144A 6.750%, 3/15/26(1) | 400 | 426 | |
United States Steel Corp. 6.875%, 3/1/29 | 465 | 496 | |
1,434 | |||
Leisure Time—2.9% | |||
Carnival Corp. | |||
144A 10.500%, 2/1/26(1) | 440 | 510 | |
144A 5.750%, 3/1/27(1) | 180 | 186 | |
NCL Corp., Ltd. 144A 5.875%, 3/15/26(1) | 505 | 518 | |
Royal Caribbean Cruises Ltd. | |||
144A 11.500%, 6/1/25(1) | 589 | 672 | |
144A 5.500%, 4/1/28(1) | 160 | 164 | |
2,050 | |||
Lodging—1.0% | |||
Boyd Gaming Corp. 144A 8.625%, 6/1/25(1) | 430 | 466 | |
MGM Resorts International 4.750%, 10/15/28 | 245 | 258 | |
724 | |||
Machinery-Construction & Mining—0.8% | |||
Terex Corp. 144A 5.000%, 5/15/29(1) | 510 | 529 | |
Media—6.7% | |||
CCO Holdings LLC | |||
4.500%, 5/1/32 | 265 | 273 | |
144A 5.375%, 6/1/29(1) | 500 | 540 | |
CSC Holdings LLC | |||
144A 7.500%, 4/1/28(1) | 510 | 551 | |
144A 5.750%, 1/15/30(1) | 185 | 188 | |
DIRECTV Holdings LLC 144A 5.875%, 8/15/27(1) | 500 | 522 | |
DISH DBS Corp. 7.375%, 7/1/28 | 495 | 525 | |
Gray Television, Inc. 144A 4.750%, 10/15/30(1) | 530 | 521 | |
Meredith Corp. 6.875%, 2/1/26 | 645 | 666 | |
Nexstar Media, Inc. 144A 5.625%, 7/15/27(1) | 260 | 275 | |
Scripps Escrow II, Inc. 144A 5.375%, 1/15/31(1) | 405 | 398 |
Par Value | Value | ||
Media—continued | |||
Virgin Media Finance plc 144A 5.000%, 7/15/30(1) | $ 235 | $ 241 | |
4,700 | |||
Metal Fabricate/Hardware—0.6% | |||
Park-Ohio Industries, Inc. 6.625%, 4/15/27 | 390 | 390 | |
Mining—0.8% | |||
Hudbay Minerals, Inc. 144A 4.500%, 4/1/26(1) | 365 | 361 | |
Joseph T Ryerson & Son, Inc. 144A 8.500%, 8/1/28(1) | 208 | 231 | |
592 | |||
Oil, Gas & Consumable Fuels—9.9% | |||
Antero Resources Corp. | |||
144A 7.625%, 2/1/29(1) | 390 | 436 | |
144A 5.375%, 3/1/30(1) | 175 | 184 | |
Callon Petroleum Co. 144A 8.000%, 8/1/28(1) | 690 | 681 | |
CITGO Petroleum Corp. 144A 6.375%, 6/15/26(1) | 170 | 173 | |
CNX Resources Corp. 144A 7.250%, 3/14/27(1) | 405 | 431 | |
Comstock Resources, Inc. | |||
144A 6.750%, 3/1/29(1) | 475 | 513 | |
144A 5.875%, 1/15/30(1) | 325 | 338 | |
Continental Resources, Inc. 144A 5.750%, 1/15/31(1) | 260 | 314 | |
EQT Corp. 7.500%, 2/1/30 | 330 | 425 | |
Occidental Petroleum Corp. | |||
5.550%, 3/15/26 | 650 | 722 | |
8.875%, 7/15/30 | 150 | 204 | |
6.625%, 9/1/30 | 380 | 468 | |
PBF Holding Co. LLC 6.000%, 2/15/28 | 295 | 188 | |
PDC Energy, Inc. 5.750%, 5/15/26 | 400 | 417 | |
SM Energy Co. 6.500%, 7/15/28 | 360 | 373 | |
Southwestern Energy Co. 5.375%, 3/15/30 | 325 | 351 | |
Sunoco LP 5.875%, 3/15/28 | 205 | 216 | |
USA Compression Partners LP 6.875%, 9/1/27 | 495 | 524 | |
6,958 | |||
Paper & Forest Products—0.5% | |||
Mercer International, Inc. 5.125%, 2/1/29 | 330 | 337 |
Par Value | Value | ||
Pharmaceuticals—4.0% | |||
AdaptHealth LLC 144A 4.625%, 8/1/29(1) | $ 410 | $ 410 | |
Bausch Health Americas, Inc. 144A 8.500%, 1/31/27(1) | 500 | 533 | |
Bausch Health Cos., Inc. 144A 7.250%, 5/30/29(1) | 515 | 528 | |
Jazz Securities DAC 144A 4.375%, 1/15/29(1) | 345 | 357 | |
Organon & Co. 144A 5.125%, 4/30/31(1) | 505 | 530 | |
Prestige Brands, Inc. 144A 5.125%, 1/15/28(1) | 395 | 412 | |
2,770 | |||
Pipelines—3.7% | |||
Antero Midstream Partners LP 144A 5.375%, 6/15/29(1) | 325 | 335 | |
Crestwood Midstream Partners LP 144A 6.000%, 2/1/29(1) | 495 | 518 | |
DCP Midstream Operating LP 5.125%, 5/15/29 | 290 | 326 | |
EQM Midstream Partners LP 144A 6.500%, 7/1/27(1) | 220 | 247 | |
NGL Energy Operating LLC 144A 7.500%, 2/1/26(1) | 505 | 514 | |
NuStar Logistics LP 6.375%, 10/1/30 | 305 | 336 | |
Targa Resources Partners LP 6.500%, 7/15/27 | 315 | 340 | |
2,616 | |||
Real Estate—0.7% | |||
Kennedy-Wilson, Inc. 5.000%, 3/1/31 | 470 | 481 | |
Retail—1.7% | |||
Bath & Body Works, Inc. 144A 6.625%, 10/1/30(1) | 295 | 335 | |
Carvana Co. 144A 4.875%, 9/1/29(1) | 340 | 337 | |
Foot Locker, Inc. 144A 4.000%, 10/1/29(1) | 170 | 170 | |
New Red Finance, Inc. 144A 4.000%, 10/15/30(1) | 345 | 342 | |
1,184 | |||
Par Value | Value | ||
Semiconductors—0.9% | |||
Amkor Technology, Inc. 144A 6.625%, 9/15/27(1) | $ 245 | $ 262 | |
Synaptics, Inc. 144A 4.000%, 6/15/29(1) | 345 | 353 | |
615 | |||
Software—2.7% | |||
Clarivate Science Holdings Corp. 144A 4.875%, 7/1/29(1) | 515 | 516 | |
Consensus Cloud Solutions, Inc. 144A 6.500%, 10/15/28(1) | 505 | 524 | |
Rackspace Technology Global, Inc. 144A 5.375%, 12/1/28(1) | 355 | 349 | |
SS&C Technologies, Inc. 144A 5.500%, 9/30/27(1) | 445 | 470 | |
1,859 | |||
Telecommunications—7.1% | |||
Avaya, Inc. 144A 6.125%, 9/15/28(1) | 445 | 468 | |
Cincinnati Bell, Inc. 144A 7.000%, 7/15/24(1) | 510 | 519 | |
CommScope Technologies LLC 144A 5.000%, 3/15/27(1) | 330 | 314 | |
CommScope, Inc. 144A 8.250%, 3/1/27(1) | 495 | 518 | |
Frontier Communications Holdings LLC 144A 5.000%, 5/1/28(1) | 300 | 315 | |
Hughes Satellite Systems Corp. 6.625%, 8/1/26 | 465 | 529 | |
LogMeIn, Inc. 144A 5.500%, 9/1/27(1) | 335 | 341 | |
Lumen Technologies, Inc. | |||
144A 4.500%, 1/15/29(1) | 440 | 426 | |
144A 5.375%, 6/15/29(1) | 520 | 531 | |
Plantronics, Inc. 144A 4.750%, 3/1/29(1) | 360 | 337 | |
Sprint Corp. 7.625%, 3/1/26 | 530 | 642 | |
4,940 | |||
Par Value | Value | ||
Transportation—1.0% | |||
Fortress Transportation & Infrastructure Investors LLC | |||
144A 9.750%, 8/1/27(1) | $ 300 | $ 340 | |
144A 5.500%, 5/1/28(1) | 340 | 342 | |
682 | |||
Total Corporate Bonds and Notes (Identified Cost $60,118) | 63,203 | ||
Shares | ||
Preferred Stock—2.7% | ||
Entertainment—2.7% | ||
LiveStyle, Inc. Series B(2)(3)(4)(5)(6) | 18,941 | 1,894 |
Total Preferred Stock (Identified Cost $1,857) | 1,894 | |
Common Stocks—2.0% | ||
Banks—1.9% | ||
CCF Holdings LLC(4)(5) | 1,570,753 | 1,131 |
CCF Holdings LLC Class M(4)(5) | 293,320 | 211 |
1,342 | ||
Consumer Finance—0.1% | ||
Erickson, Inc.(4)(5) | 2,675 | 75 |
Entertainment—0.0% | ||
LiveStyle, Inc.(2)(3)(4)(5)(6) | 67,983 | — (7) |
Total Common Stocks (Identified Cost $4,817) | 1,417 | |
Warrants—0.3% | ||
Banks—0.3% | ||
CCF Holdings LLC(4)(5) | 485,227 | 228 |
Entertainment—0.0% | ||
LiveStyle, Inc. Series C(2)(3)(4)(5) | 14,500 | — (7) |
Shares | Value | ||
Media—0.0% | |||
Affinion Group Holdings(4)(5)(6) | 3,898 | $ — | |
Total Warrants (Identified Cost $770) | 228 | ||
Total Long-Term Investments—95.3% (Identified Cost $67,562) | 66,742 | ||
Short-Term Investment—7.1% | |||
Money Market Mutual Fund—7.1% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(8) | 4,962,933 | 4,963 | |
Total Short-Term Investment (Identified Cost $4,963) | 4,963 | ||
TOTAL INVESTMENTS—102.4% (Identified Cost $72,525) | $71,705 | ||
Other assets and liabilities, net—(2.4)% | (1,714) | ||
NET ASSETS—100.0% | $69,991 |
Abbreviations: | |
LLC | Limited Liability Company |
LP | Limited Partnership |
Footnote Legend: | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $44,283 or 63.3% of net assets. |
(2) | A member of the Fund’s portfolio management team is a member of the board of directors of LiveStyle, Inc. The Fund’s aggregate value of investments in LiveStyle, Inc. represents 2.71% of net assets. See Note 4H in the Notes to Financial Statements. |
(3) | Affiliated investment. See Note 4H in Notes to Financial Statements. |
(4) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(5) | Non-income producing. |
(6) | All or a portion of the security is restricted. |
(7) | Amount is less than $500. |
(8) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 92% |
Canada | 2 |
Liberia | 1 |
Panama | 1 |
United Kingdom | 1 |
Netherlands | 1 |
Bermuda | 1 |
Ireland | 1 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | ||||
Assets: | |||||||
Debt Securities: | |||||||
Corporate Bonds and Notes | $63,203 | $ — | $63,203 | $ — | |||
Equity Securities: | |||||||
Common Stocks | 1,417 | — | — | 1,417 | |||
Preferred Stock | 1,894 | — | — | 1,894 | |||
Warrants | 228 | — | — | 228 (1) | |||
Money Market Mutual Fund | 4,963 | 4,963 | — | — | |||
Total Investments | $71,705 | $4,963 | $63,203 | $3,539 |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
Total | Corporate Bonds And Notes | Common Stocks | Preferred Stocks | Warrants | |||||
Investments in Securities | |||||||||
Balance as of September 30, 2020: | $ 7,616 | $ 2,766 | $ 35 | $ 4,799 | $ 16 | ||||
Accrued discount/(premium) | 14 | 14 | — | — | — | ||||
Realized gain (loss) | (5,570) | (5,686) | — | 116 | — | ||||
Change in unrealized appreciation (depreciation)(c) | 7,550 | 8,266 | (2,072) | 1,144 | 212 | ||||
Purchases | 3,454 | — | 3,454 | — | — | ||||
Sales (d) | (9,525) | (5,360) (b) | — | (4,165) | — | ||||
Balance as of September 30, 2021 | $ 3,539 | $ — | $ 1,417 | $ 1,894 | $ 228 (a) |
Investments in Securities – Assets | Ending Balance at September 30, 2021 | Valuation Technique Used | Unobservable Inputs | Input Values | ||||
Preferred Stock: | ||||||||
LiveStyle, Inc. Series B | $1,894 | Market and Company Comparables | EV Multiples | 4.35x (0.43x - 17.64x) | ||||
Illiquidity Discount | (25% - 30%) | |||||||
Common Stocks: | ||||||||
CCF Holdings LLC | $1,131 | Market and Company Comparables | EV Multiples Illiquidity Discount | 1.07x (0.33x - 1.87x) 0.54x (0.20x - 0.78x) 20% | ||||
CCF Holdings LLC Class M | $ 211 | Market and Company Comparables | EV Multiples Illiquidity Discount | 1.07x (0.33x - 1.87x) 0.54x (0.20x - 0.78x) 20% | ||||
Erickson, Inc. | $ 75 | Market and Company Comparables | EV Multiples | 1.32x (0.74x - 2.38x) 11.58x (7.87x - 47.06x) 1.01x (0.57x - 1.43x) | ||||
M&A Transaction Multiples Illiquidity Discount | 0.96x (0.41x - 1.96x) 20% | |||||||
LiveStyle, Inc. | $ —(1) | Market and Company Comparables | EV Multiples | 4.35x (0.43x - 17.64x) | ||||
Illiquidity Discount | (25% - 30%) | |||||||
Warrants: | ||||||||
CCF Holdings LLC | $ 228 | Market and Company Comparables | EV Multiples | 1.07x (0.33x - 1.87x) 0.54x (0.20x - 0.78x) | ||||
Black-Scholes Model | Illiquidity Discount Volatility | 20% 52.95% | ||||||
LiveStyle, Inc. Series C | $ —(1) | Market and Company Comparables | EV Multiples | 4.35x (0.43x - 17.64x) | ||||
Illiquidity Discount | (25% - 30%) | |||||||
Shares | Value | ||
Preferred Stock—1.4% | |||
Germany—1.4% | |||
Jungheinrich AG | 23,096 | $ 1,071 | |
Total Preferred Stock (Identified Cost $502) | 1,071 | ||
Common Stocks—96.8% | |||
Australia—4.6% | |||
ALS Ltd. | 97,953 | 882 | |
Ansell Ltd. | 7,007 | 170 | |
Bapcor Ltd. | 90,106 | 486 | |
Nick Scali Ltd. | 52,521 | 431 | |
Paradigm Biopharmaceuticals Ltd.(1) | 246,278 | 388 | |
Pro Medicus Ltd. | 18,200 | 706 | |
Starpharma Holdings Ltd.(1) | 531,745 | 508 | |
3,571 | |||
Austria—1.4% | |||
Wienerberger AG | 32,795 | 1,101 | |
Cayman Islands—2.0% | |||
Alchip Technologies Ltd. | 47,000 | 1,550 | |
Denmark—2.2% | |||
Ambu A/S Class B | 24,179 | 716 | |
SimCorp A/S | 8,165 | 965 | |
1,681 | |||
Finland—1.3% | |||
Huhtamaki Oyj | 22,293 | 1,003 | |
France—8.6% | |||
APERAM S.A. | 21,463 | 1,190 | |
Elis S.A.(1) | 66,163 | 1,262 | |
Nexity S.A. | 21,091 | 1,003 | |
SCOR SE | 30,565 | 880 | |
SOITEC (1) | 5,728 | 1,238 | |
SPIE S.A. | 45,287 | 1,025 | |
6,598 | |||
Germany—7.6% | |||
Bechtle AG | 17,661 | 1,208 | |
CANCOM SE | 22,963 | 1,356 | |
Deutsche Pfandbriefbank AG | 21,023 | 237 | |
Evotec SE(1) | 29,251 | 1,387 | |
Jenoptik AG | 28,673 | 966 | |
Scout24 AG | 9,699 | 672 | |
5,826 | |||
Hong Kong—3.1% | |||
Hutchmed China Ltd. ADR(1) | 21,240 | 777 |
Shares | Value | ||
Hong Kong—continued | |||
Melco International Development Ltd.(1) | 280,000 | $ 330 | |
Tam Jai International Co., Ltd.(1) | 663,000 | 284 | |
Techtronic Industries Co., Ltd. | 19,000 | 375 | |
VTech Holdings Ltd. | 82,600 | 601 | |
2,367 | |||
Ireland—1.6% | |||
Grafton Group plc - UTS | 74,655 | 1,269 | |
Italy—2.7% | |||
Buzzi Unicem SpA | 40,871 | 929 | |
ERG SpA | 38,009 | 1,128 | |
2,057 | |||
Japan—28.2% | |||
Asahi Intecc Co. Ltd. | 32,200 | 882 | |
COMSYS Holdings Corp. | 39,300 | 1,037 | |
Dai Nippon Printing Co. Ltd. | 40,100 | 966 | |
Ferrotec Holdings Corp. | 7,500 | 212 | |
Fuji Electric Co. Ltd. | 24,400 | 1,110 | |
Hitachi Zosen Corp. | 58,700 | 449 | |
Industrial & Infrastructure Fund Investment Corp. Class A | 653 | 1,190 | |
Jeol Ltd. | 15,900 | 1,158 | |
JMDC, Inc.(1) | 16,100 | 1,100 | |
Kawasaki Kisen Kaisha Ltd.(1) | 5,200 | 281 | |
Mitsubishi HC Capital, Inc. | 203,900 | 1,066 | |
Nikon Corp. | 77,300 | 858 | |
PALTAC Corp. | 16,100 | 729 | |
Penta-Ocean Construction Co. Ltd. | 57,700 | 392 | |
Shimamura Co. Ltd. | 9,700 | 907 | |
Ship Healthcare Holdings, Inc. | 11,500 | 296 | |
Sojitz Corp. | 83,020 | 1,356 | |
T&D Holdings, Inc. | 72,500 | 994 | |
TechMatrix Corp. | 67,600 | 1,221 | |
Tess Holdings Co., Ltd. | 19,900 | 395 | |
Tokai Carbon Co. Ltd. | 61,500 | 786 | |
Tokyu Fudosan Holdings Corp. | 206,700 | 1,272 | |
ValueCommerce Co. Ltd. | 24,300 | 1,038 | |
Zenkoku Hosho Co. Ltd. | 19,300 | 942 | |
Zeon Corp. | 76,900 | 1,082 | |
21,719 | |||
Netherlands—3.1% | |||
ASM International N.V. | 3,101 | 1,215 |
Shares | Value | ||
Netherlands—continued | |||
ASR Nederland N.V. | 26,081 | $ 1,193 | |
2,408 | |||
New Zealand—0.4% | |||
Eroad Ltd.(1) | 78,875 | 312 | |
Norway—3.6% | |||
Elkem ASA(1) | 334,736 | 1,443 | |
Storebrand ASA | 140,303 | 1,336 | |
2,779 | |||
South Korea—0.9% | |||
Koh Young Technology, Inc. | 41,400 | 676 | |
Sweden—2.6% | |||
AAK AB | 49,436 | 1,063 | |
Elekta AB Class B | 82,324 | 922 | |
1,985 | |||
Switzerland—4.9% | |||
Bystronic AG | 885 | 1,194 | |
Georg Fischer AG | 883 | 1,308 | |
Interroll Holding AG | 295 | 1,249 | |
3,751 | |||
Taiwan—3.5% | |||
Advanced Wireless Semiconductor Co. | 23,000 | 117 | |
ASMedia Technology, Inc. | 21,000 | 1,240 | |
Unimicron Technology Corp. | 289,000 | 1,352 | |
2,709 | |||
United Kingdom—14.5% | |||
ASOS plc(1) | 17,436 | 702 | |
Auto Trader Group plc | 135,916 | 1,072 | |
Crest Nicholson Holdings plc | 205,339 | 1,054 | |
Genus plc | 17,467 | 1,277 | |
HomeServe plc | 59,551 | 724 | |
Howden Joinery Group plc | 109,235 | 1,315 | |
Intermediate Capital Group plc | 45,270 | 1,240 | |
Moneysupermarket.com Group plc | 273,707 | 781 | |
Rotork plc | 153,007 | 715 | |
Spectris plc | 24,243 | 1,258 |
Shares | Value | ||
United Kingdom—continued | |||
Wizz Air Holdings plc(1) | 16,041 | $ 1,078 | |
11,216 | |||
Total Common Stocks (Identified Cost $56,205) | 74,578 | ||
Total Long-Term Investments—98.2% (Identified Cost $56,707) | 75,649 | ||
Shares | Value | ||
Short-Term Investment—1.3% | |||
Money Market Mutual Fund—1.3% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 1,039,137 | $ 1,039 | |
Total Short-Term Investment (Identified Cost $1,039) | 1,039 | ||
TOTAL INVESTMENTS—99.5% (Identified Cost $57,746) | $76,688 | ||
Other assets and liabilities, net—0.5% | 359 | ||
NET ASSETS—100.0% | $77,047 |
Abbreviations: | |
ADR | American Depositary Receipt |
UTS | Unit Trust Shares |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
Japan | 28% |
United Kingdom | 15 |
Germany | 9 |
France | 9 |
Switzerland | 5 |
Australia | 5 |
Norway | 4 |
Other | 25 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $74,578 | $1,061 | $73,517 | ||
Preferred Stock | 1,071 | — | 1,071 | ||
Money Market Mutual Fund | 1,039 | 1,039 | — | ||
Total Investments | $76,688 | $2,100 | $74,588 |
Par Value | Value | ||
U.S. Government Security—0.8% | |||
U.S. Treasury Bonds 1.375%, 8/15/50(1) | $ 225 | $ 190 | |
Total U.S. Government Security (Identified Cost $198) | 190 | ||
Corporate Bonds and Notes—62.3% | |||
Communications—5.0% | |||
ViacomCBS, Inc. 6.250%, 2/28/57 | 290 | 332 | |
Vodafone Group plc 5.125%, 6/4/81 | 800 | 824 | |
1,156 | |||
Consumer, Cyclical—5.2% | |||
General Motors Financial Co., Inc. Series C 5.700%(2) | 522 | 601 | |
United Airlines, Inc. 144A 4.625%, 4/15/29(3) | 600 | 620 | |
1,221 | |||
Energy—7.4% | |||
Enbridge, Inc. 6.250%, 3/1/78 | 75 | 84 | |
Energy Transfer LP | |||
Series G 7.125%(2) | 470 | 493 | |
Series H 6.500%(2) | 200 | 208 | |
Murphy Oil Corp. 6.375%, 7/15/28 | 440 | 465 | |
Plains All American Pipeline LP Series B 6.125%(2) | 401 | 363 | |
Transcanada Trust 5.500%, 9/15/79 | 90 | 99 | |
1,712 | |||
Financials—41.4% | |||
Ally Financial, Inc. Series B 4.700%(2) | 675 | 703 | |
American Express Co. 3.550%(2) | 575 | 586 | |
American International Group, Inc. 8.175%, 5/15/58 | 374 | 553 | |
Banco Santander S.A. 4.750%(2) | 400 | 407 | |
Barclays plc 4.375%(2) | 650 | 649 | |
Citigroup, Inc. 3.875%(2) | 450 | 460 |
Par Value | Value | ||
Financials—continued | |||
Citizens Financial Group, Inc. Series B 6.000%(2) | $ 165 | $ 173 | |
Deutsche Bank AG 6.000%(2) | 450 | 474 | |
Discover Financial Services Series C 5.500%(2) | 545 | 591 | |
Global Atlantic Fin Co. 144A 4.700%, 10/15/51(3) | 700 | 724 | |
Intesa Sanpaolo SpA 144A 7.700%(2)(3) | 200 | 226 | |
JPMorgan Chase & Co. 4.000%(2) | 600 | 602 | |
Liberty Mutual Group, Inc. 144A 4.125%, 12/15/51(3) | 725 | 745 | |
M&T Bank Corp. 3.500%(2) | 242 | 240 | |
MetLife, Inc. | |||
10.750%, 8/1/39 | 860 | 1,498 | |
144A 9.250%, 4/8/38(3) | 215 | 327 | |
PNC Financial Services Group, Inc. (The) Series T 3.400%(2) | 200 | 199 | |
SVB Financial Group Series C 4.000%(2) | 440 | 451 | |
9,608 | |||
Utilities—3.3% | |||
Edison International Series A 5.375%(2) | 640 | 662 | |
Southern Co. (The) Series A 3.750%, 9/15/51 | 100 | 102 | |
764 | |||
Total Corporate Bonds and Notes (Identified Cost $13,789) | 14,461 | ||
Shares | ||
Preferred Stocks—33.7% | ||
Communication Services—3.4% | ||
AT&T, Inc. Series C , 4.750% | 19,100 | 503 |
United States Cellular Corp. Series C, 6.250% | 10,370 | 281 |
784 | ||
Consumer Discretionary—0.4% | ||
Ford Motor Co., 6.000% | 3,000 | 80 |
Financials—29.1% | ||
Athene Holding Ltd. Series A, 6.350% | 29,468 | 874 |
Shares | Value | ||
Financials—continued | |||
Bank of America Corp. Series NN, 4.375% | 23,400 | $ 617 | |
Bank of Hawaii Corp. Series A, 4.375% | 16,000 | 409 | |
Capital One Financial Corp. Series J, 4.800% | 13,000 | 341 | |
Citigroup Capital XIII (3 month LIBOR + 6.370%), 6.499%(4) | 17 (5) | 474 | |
First Horizon Corp. Series F, 6.500% | 31,910 | 874 | |
First Horizon Corp., 4.700% | 4,000 | 104 | |
Regions Financial Corp. Series E, 4.450% | 15,000 | 390 | |
Regions Financial Corp. Series C, 5.700% | 24,618 | 700 | |
Synchrony Financial Series A, 5.625% | 22,985 | 613 | |
Truist Financial Corp. Series Q, 5.100% | 255 (5) | 293 | |
Wells Fargo & Co. Series CC, 4.375% | 28,750 | 733 | |
Wells Fargo & Co. Series DD, 4.250% | 13,500 | 338 | |
6,760 | |||
Industrials—0.8% | |||
General Electric Co. Series D, 3.446%(4) | 200 (5) | 196 | |
Total Preferred Stocks (Identified Cost $7,412) | 7,820 | ||
Total Long-Term Investments—96.8% (Identified Cost $21,399) | 22,471 | ||
Short-Term Investment—3.0% | |||
Money Market Mutual Fund—3.0% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(6) | 705,970 | 706 | |
Total Short-Term Investment (Identified Cost $706) | 706 | ||
TOTAL INVESTMENTS—99.8% (Identified Cost $22,105) | $23,177 | ||
Other assets and liabilities, net—0.2% | 36 | ||
NET ASSETS—100.0% | $23,213 |
Abbreviations: | |
CDX.NA.HY | Credit Default Swap Index North American High Yield |
LIBOR | London Interbank Offered Rate |
LP | Limited Partnership |
Footnote Legend: | |
(1) | All or a portion of the security is segregated as collateral for open swap contracts. |
(2) | No contractual maturity date. |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $2,642 or 11.4% of net assets. |
(4) | Variable rate security. Rate disclosed is as of September 30, 2021. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(5) | Value shown as par value. |
(6) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Counterparties: | |
ICE | Intercontinental Exchange |
Country Weightings (Unaudited)† | |
United States | 84% |
United Kingdom | 6 |
Bermuda | 4 |
Germany | 2 |
Spain | 2 |
Italy | 1 |
Canada | 1 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Exchange-Traded Futures contracts as of September 30, 2021 were as follows: | ||||||
Issue | Expiration | Contracts Purchased/(Sold) | Notional Value | Value / Unrealized Appreciation | Value / Unrealized (Depreciation) | |
Long Contracts: | ||||||
5 Year U.S. Treasury Note Future | December 2021 | 3 | $368 | $— | $ (2) | |
Total | $— | $ (2) |
Centrally cleared credit default swap - buy protection(1) outstanding as of September 30, 2021 were as follows: | |||||||||||||
Reference Entity | Payment Frequency | Counterparty | Fixed Rate | Expiration Date | Notional Amount(2) | Value | Premiums Paid (Received) | Unrealized Appreciation | Unrealized (Depreciation) | ||||
CDX.NA.HY.37 (3) | Quarterly | ICE | 5.000% | 12/20/26 | $(2,250) | $(207) | $ (212) | $ 5 | $— | ||||
Simon Property Group LP Senior | Quarterly | ICE | 1.000% | 12/20/26 | (95) | (1) | (1) | — | — (4) | ||||
Total | $(208) | $ (213) | $ 5 | $— (4) |
Footnote Legend: | |
(1) | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index; or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index. |
(2) | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(3) | Markit CDX.NA.HY Index, is composed of 100 of the most liquid North American entities with high yield credit ratings that trade in the credit default swap market. |
(4) | Amount is less than $500. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Debt Securities: | |||||
Corporate Bonds and Notes | $14,461 | $ — | $14,461 | ||
U.S. Government Security | 190 | — | 190 | ||
Equity Securities: | |||||
Preferred Stocks | 7,820 | 7,331 | 489 | ||
Money Market Mutual Fund | 706 | 706 | — | ||
Total Assets | 23,177 | 8,037 | 15,140 | ||
Liabilities: | |||||
Other Financial Instruments: | |||||
Futures Contract | (2) | (2) | — | ||
Centrally Cleared Credit Default Swap | (208) | — | (208) | ||
Total Liabilities | (210) | (2) | (208) | ||
Total Investments | $22,967 | $8,035 | $14,932 |
Par Value | Value | ||
Corporate Bonds and Notes—89.5% | |||
Advertising—0.5% | |||
Summer BC Bidco B LLC 144A 5.500%, 10/31/26(1) | $ 3,500 | $ 3,587 | |
Aerospace & Defense—2.8% | |||
Spirit AeroSystems, Inc. 144A 7.500%, 4/15/25(1) | 19,524 | 20,671 | |
Airlines—1.7% | |||
Hawaiian Brand Intellectual Property Ltd. 144A 5.750%, 1/20/26(1) | 2,500 | 2,616 | |
Mileage Plus Holdings LLC 144A 6.500%, 6/20/27(1) | 6,450 | 7,014 | |
Spirit Loyalty Cayman Ltd. 144A 8.000%, 9/20/25(1) | 1,200 | 1,346 | |
United Airlines, Inc. 144A 4.375%, 4/15/26(1) | 2,000 | 2,052 | |
13,028 | |||
Apparel—0.4% | |||
Hanesbrands, Inc. 144A 5.375%, 5/15/25(1) | 2,750 | 2,879 | |
Auto Components—1.7% | |||
Clarios Global LP 144A 6.750%, 5/15/25(1) | 720 | 759 | |
Goodyear Tire & Rubber Co. (The) 9.500%, 5/31/25 | 10,950 | 12,018 | |
12,777 | |||
Auto Manufacturers—2.2% | |||
Ford Motor Co. 8.500%, 4/21/23 | 15,050 | 16,554 | |
Chemicals—0.0% | |||
CVR Partners LP 144A 9.250%, 6/15/23(1) | 207 | 208 | |
Coal—0.9% | |||
Cloud Peak Energy Resources LLC PIK 12.000%, 5/1/25(2) | 6,711 | 4,529 | |
Navajo Transitional Energy Co. LLC 9.000%, 10/24/24 | 3,813 | 2,478 | |
7,007 | |||
Commercial Services—3.1% | |||
Brink’s Co. (The) 144A 5.500%, 7/15/25(1) | 5,000 | 5,225 | |
Prime Security Services Borrower LLC 144A 5.250%, 4/15/24(1) | 6,000 | 6,399 | |
Shift4 Payments LLC 144A 4.625%, 11/1/26(1) | 3,500 | 3,653 |
Par Value | Value | ||
Commercial Services—continued | |||
Square, Inc. 144A 2.750%, 6/1/26(1) | $ 1,750 | $ 1,774 | |
WASH Multifamily Acquisition, Inc. 144A 5.750%, 4/15/26(1) | 5,400 | 5,639 | |
22,690 | |||
Computers—0.1% | |||
Dell International LLC 144A 7.125%, 6/15/24(1) | 1,100 | 1,125 | |
Containers & Packaging—0.3% | |||
Pactiv Evergreen Group Issuer LLC 144A 4.375%, 10/15/28(1) | 2,000 | 2,007 | |
Distribution/Wholesale—2.2% | |||
Wolverine Escrow LLC | |||
144A 8.500%, 11/15/24(1) | 12,259 | 11,401 | |
144A 9.000%, 11/15/26(1) | 5,090 | 4,702 | |
16,103 | |||
Diversified Financial Services—9.0% | |||
Alliance Data Systems Corp. | |||
144A 4.750%, 12/15/24(1) | 19,000 | 19,461 | |
144A 7.000%, 1/15/26(1) | 6,000 | 6,420 | |
Global Aircraft Leasing Co. Ltd. PIK 144A 6.500%, 9/15/24(1)(3) | 16,045 | 15,765 | |
LD Holdings Group LLC 144A 6.500%, 11/1/25(1) | 6,775 | 6,758 | |
PennyMac Financial Services, Inc. 144A 5.375%, 10/15/25(1) | 2,750 | 2,828 | |
SLM Corp. 4.200%, 10/29/25 | 8,950 | 9,595 | |
United Wholesale Mortgage LLC 144A 5.500%, 11/15/25(1) | 6,000 | 6,045 | |
66,872 | |||
Electric Utilities—2.2% | |||
Calpine Corp. 144A 5.250%, 6/1/26(1) | 5,250 | 5,401 | |
Vistra Operations Co. LLC 144A 5.500%, 9/1/26(1) | 10,450 | 10,737 | |
16,138 | |||
Electronic Equipment, Instruments & Components—0.6% | |||
WESCO Distribution, Inc. 144A 7.125%, 6/15/25(1) | 4,000 | 4,269 |
Par Value | Value | ||
Energy-Alternate Sources—0.5% | |||
Sunnova Energy Corp. 144A 5.875%, 9/1/26(1) | $ 4,000 | $ 4,075 | |
Engineering & Construction—1.7% | |||
Artera Services LLC 144A 9.033%, 12/4/25(1) | 11,553 | 12,535 | |
Entertainment—2.2% | |||
Banijay Entertainment SASU 144A 5.375%, 3/1/25(1) | 6,092 | 6,282 | |
International Game Technology plc 144A 4.125%, 4/15/26(1) | 1,500 | 1,559 | |
Scientific Games International, Inc. 144A 5.000%, 10/15/25(1) | 6,500 | 6,687 | |
Wynn Resorts Finance LLC 144A 7.750%, 4/15/25(1) | 1,800 | 1,899 | |
16,427 | |||
Environmental Services—0.2% | |||
Stericycle, Inc. 144A 5.375%, 7/15/24(1) | 1,336 | 1,369 | |
Equity Real Estate Investment Trusts (REITs)—1.1% | |||
Blackstone Mortgage Trust, Inc. 144A 3.750%, 1/15/27(1) | 3,000 | 2,974 | |
HAT Holdings I LLC 144A 3.375%, 6/15/26(1) | 2,000 | 2,030 | |
SBA Communications Corp. 4.875%, 9/1/24 | 3,000 | 3,050 | |
8,054 | |||
Food Service—0.6% | |||
Aramark Services, Inc. 144A 5.000%, 4/1/25(1) | 4,586 | 4,694 | |
Healthcare-Services—3.6% | |||
Akumin, Inc. 144A 7.000%, 11/1/25(1) | 10,875 | 10,549 | |
IQVIA, Inc. 144A 5.000%, 10/15/26(1) | 5,000 | 5,124 | |
RP Escrow Issuer LLC 144A 5.250%, 12/15/25(1) | 2,400 | 2,469 | |
Tenet Healthcare Corp. | |||
4.625%, 7/15/24 | 1,764 | 1,791 | |
144A 4.875%, 1/1/26(1) | 6,500 | 6,727 | |
26,660 | |||
Home Builders—0.5% | |||
Forestar Group, Inc. 144A 3.850%, 5/15/26(1) | 2,000 | 1,998 |
Par Value | Value | ||
Home Builders—continued | |||
Picasso Finance Sub, Inc. 144A 6.125%, 6/15/25(1) | $ 729 | $ 771 | |
Taylor Morrison Communities, Inc. 144A 5.625%, 3/1/24(1) | 1,000 | 1,078 | |
3,847 | |||
Household Products/Wares—0.4% | |||
Spectrum Brands, Inc. 5.750%, 7/15/25 | 3,099 | 3,176 | |
Internet—2.6% | |||
Cogent Communications Group, Inc. 144A 3.500%, 5/1/26(1) | 3,000 | 3,041 | |
Millennium Escrow Corp. 144A 6.625%, 8/1/26(1) | 15,900 | 16,376 | |
19,417 | |||
Iron & Steel—0.9% | |||
Cleveland-Cliffs, Inc. 144A 6.750%, 3/15/26(1) | 6,039 | 6,439 | |
Lodging—1.6% | |||
Hilton Worldwide Finance LLC 4.875%, 4/1/27 | 2,965 | 3,065 | |
MGM Resorts International 7.750%, 3/15/22 | 500 | 514 | |
Wynn Las Vegas LLC 144A 5.500%, 3/1/25(1) | 8,000 | 8,160 | |
11,739 | |||
Machinery-Diversified—0.4% | |||
CNH Industrial Capital LLC 4.375%, 4/5/22 | 2,675 | 2,726 | |
Media—3.0% | |||
AMC Networks, Inc. 5.000%, 4/1/24 | 9,749 | 9,859 | |
CCO Holdings LLC 144A 5.500%, 5/1/26(1) | 750 | 773 | |
DIRECTV Holdings LLC 144A 5.875%, 8/15/27(1) | 3,000 | 3,131 | |
Sirius XM Radio, Inc. 144A 3.125%, 9/1/26(1) | 3,000 | 3,041 | |
TEGNA, Inc. 144A 4.750%, 3/15/26(1) | 1,500 | 1,565 | |
Townsquare Media, Inc. 144A 6.875%, 2/1/26(1) | 1,871 | 1,963 |
Par Value | Value | ||
Media—continued | |||
Univision Communications, Inc. 144A 5.125%, 2/15/25(1) | $ 2,000 | $ 2,029 | |
22,361 | |||
Miscellaneous Manufacturing—2.9% | |||
Hillenbrand, Inc. 5.750%, 6/15/25 | 2,000 | 2,110 | |
LSB Industries, Inc. | |||
144A 9.625%, 5/1/23(1) | 13,100 | 13,637 | |
144A 6.250%, 10/15/28(1) | 5,750 | 5,800 | |
21,547 | |||
Oil, Gas & Consumable Fuels—8.9% | |||
AmeriGas Partners LP 5.625%, 5/20/24 | 2,710 | 2,934 | |
CVR Energy, Inc. 144A 5.250%, 2/15/25(1) | 27,929 | 27,650 | |
PBF Holding Co. LLC | |||
7.250%, 6/15/25 | 24,000 | 16,152 | |
144A 9.250%, 5/15/25(1) | 4,000 | 3,790 | |
TechnipFMC plc 144A 6.500%, 2/1/26(1) | 14,385 | 15,428 | |
65,954 | |||
Pharmaceuticals—0.6% | |||
Bausch Health Cos., Inc. 144A 5.500%, 11/1/25(1) | 3,000 | 3,045 | |
PRA Health Sciences, Inc. 144A 2.875%, 7/15/26(1) | 1,500 | 1,515 | |
4,560 | |||
Pipelines—8.8% | |||
Cheniere Energy Partners LP 5.625%, 10/1/26 | 10,000 | 10,275 | |
Delek Logistics Partners LP 144A 7.125%, 6/1/28(1) | 2,000 | 2,131 | |
EQM Midstream Partners LP 144A 6.000%, 7/1/25(1) | 8,000 | 8,770 | |
New Fortress Energy, Inc. | |||
144A 6.750%, 9/15/25(1) | 17,700 | 17,036 | |
144A 6.500%, 9/30/26(1) | 5,250 | 5,020 | |
NuStar Logistics LP 5.750%, 10/1/25 | 3,450 | 3,717 | |
PBF Logistics LP 6.875%, 5/15/23 | 11,912 | 11,614 | |
Rattler Midstream LP 144A 5.625%, 7/15/25(1) | 5,000 | 5,207 |
Par Value | Value | ||
Pipelines—continued | |||
Targa Resources Partners LP 5.875%, 4/15/26 | $ 1,500 | $ 1,567 | |
65,337 | |||
Real Estate—2.2% | |||
Newmark Group, Inc. 6.125%, 11/15/23 | 10,197 | 11,033 | |
Realogy Group LLC 144A 7.625%, 6/15/25(1) | 5,000 | 5,340 | |
16,373 | |||
Retail—3.5% | |||
Carvana Co. 144A 5.625%, 10/1/25(1) | 2,000 | 2,067 | |
eG Global Finance plc | |||
144A 6.750%, 2/7/25(1) | 6,250 | 6,391 | |
144A 8.500%, 10/30/25(1) | 9,104 | 9,480 | |
New Red Finance, Inc. 144A 5.750%, 4/15/25(1) | 4,500 | 4,724 | |
Sally Holdings LLC 5.625%, 12/1/25 | 3,534 | 3,621 | |
26,283 | |||
Semiconductors—0.8% | |||
ams AG 144A 7.000%, 7/31/25(1) | 5,250 | 5,631 | |
Software—4.5% | |||
ACI Worldwide, Inc. 144A 5.750%, 8/15/26(1) | 2,500 | 2,613 | |
Consensus Cloud Solutions, Inc. | |||
144A 6.000%, 10/15/26(1) | 7,250 | 7,449 | |
144A 6.500%, 10/15/28(1) | 5,900 | 6,123 | |
Veritas US, Inc. 144A 7.500%, 9/1/25(1) | 16,500 | 17,160 | |
33,345 | |||
Telecommunications—7.3% | |||
CommScope, Inc. 144A 6.000%, 3/1/26(1) | 7,000 | 7,268 | |
Connect Finco Sarl 144A 6.750%, 10/1/26(1) | 26,140 | 27,349 | |
Level 3 Financing, Inc. | |||
5.375%, 5/1/25 | 3,000 | 3,065 | |
5.250%, 3/15/26 | 1,000 | 1,032 | |
LogMeIn, Inc. 144A 5.500%, 9/1/27(1) | 2,000 | 2,035 | |
Lumen Technologies, Inc. | |||
5.800%, 3/15/22 | 500 | 510 |
Par Value | Value | ||
Telecommunications—continued | |||
144A 5.125%, 12/15/26(1) | $ 3,000 | $ 3,112 | |
Sprint Communications, Inc. 6.000%, 11/15/22 | 3,000 | 3,154 | |
Viasat, Inc. 144A 5.625%, 4/15/27(1) | 6,250 | 6,516 | |
54,041 | |||
Transportation—3.0% | |||
Fly Leasing Ltd. 144A 7.000%, 10/15/24(1) | 9,990 | 9,954 | |
Fortress Transportation and Infrastructure Investors LLC 144A 6.500%, 10/1/25(1) | 10,188 | 10,487 | |
XPO Logistics, Inc. 144A 6.250%, 5/1/25(1) | 1,500 | 1,583 | |
22,024 | |||
Total Corporate Bonds and Notes (Identified Cost $674,830) | 664,529 | ||
Leveraged Loans—7.0% | |||
Advertising—0.4% | |||
Summer BC Bidco B LLC Tranche B-2 (3 month LIBOR + 4.500%) 5.250%, 12/4/26 (4) | 3,000 | 2,998 | |
Airlines—0.3% | |||
United AirLines, Inc. Tranche B (1 month LIBOR + 3.750%) 4.500%, 4/21/28 (4) | 1,990 | 2,002 | |
Commercial Services—1.6% | |||
APX Group, Inc. (1 month LIBOR + 3.500%) 4.000%, 7/10/28 (4) | 10,000 | 9,965 | |
Spin Holdco, Inc. (3 month LIBOR + 4.000%) 4.750%, 3/4/28 (4) | 1,990 | 1,995 | |
11,960 | |||
Electric Utilities—1.3% | |||
PG&E Corp. Tranche B (3 month LIBOR + 3.000%) 3.500%, 6/23/25 (4) | 9,825 | 9,650 | |
Electronics—0.4% | |||
Ingram Micro, Inc. (3 month LIBOR + 3.500%) 4.000%, 6/30/28 (4) | 2,993 | 2,999 |
Par Value | Value | ||
Insurance—2.1% | |||
Asurion LLC | |||
Tranche B-3, Second Lien (1 month LIBOR + 5.250%) 5.334%, 1/31/28 (4) | $ 8,000 | $ 7,972 | |
Tranche B-8 (1 month LIBOR + 3.250%) 3.334%, 12/23/26 (4) | 8,028 | 7,905 | |
15,877 | |||
Pipelines—0.9% | |||
Prairie ECI Acquiror LP (1 month LIBOR + 4.750%) 4.834%, 3/11/26 (4) | 7,200 | 6,952 | |
Total Leveraged Loans (Identified Cost $52,779) | 52,438 | ||
Shares | ||
Common Stocks—0.0% | ||
Oil, Gas & Consumable Fuels—0.0% | ||
Cloud Peak Energy, Inc.(5)(6)(7) | 40,020 | — |
Total Common Stocks (Identified Cost $—) | — | |
Total Long-Term Investments—96.5% (Identified Cost $727,609) | 716,967 | |
Short-Term Investment—4.2% | ||
Money Market Mutual Fund—4.2% | ||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(8) | 31,151,691 | 31,152 |
Total Short-Term Investment (Identified Cost $31,152) | 31,152 | |
TOTAL INVESTMENTS—100.7% (Identified Cost $758,761) | $748,119 | |
Other assets and liabilities, net—(0.7)% | (5,526) | |
NET ASSETS—100.0% | $742,593 |
Abbreviations: | |
LIBOR | London Interbank Offered Rate |
LLC | Limited Liability Company |
LP | Limited Partnership |
PIK | Payment-in-Kind Security |
REIT | Real Estate Investment Trust |
Footnote Legend: | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2021, these securities amounted to a value of $524,390 or 70.6% of net assets. |
(2) | 100% of the income received was in PIK. |
(3) | 100% of the income received was in cash. |
(4) | Variable rate security. Rate disclosed is as of September 30, 2021. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(5) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(6) | Non-income producing. |
(7) | All or a portion of the security is restricted. |
(8) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 84% |
United Kingdom | 4 |
Luxembourg | 4 |
Cayman Islands | 3 |
Canada | 2 |
Bermuda | 1 |
France | 1 |
Other | 1 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | ||||
Assets: | |||||||
Debt Securities: | |||||||
Corporate Bonds and Notes | $664,529 | $ — | $664,529 | $— | |||
Leveraged Loans | 52,438 | — | 52,438 | — | |||
Common Stocks | — | — | — | — (1) | |||
Money Market Mutual Fund | 31,152 | 31,152 | — | — | |||
Total Investments | $748,119 | $31,152 | $716,967 | $— (1) |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
Shares | Value | ||
Common Stocks—97.5% | |||
Australia—1.6% | |||
Reliance Worldwide Corp. Ltd. | 4,580,410 | $ 16,656 | |
Austria—0.9% | |||
Wienerberger AG | 276,018 | 9,268 | |
Canada—4.1% | |||
Algonquin Power & Utilities Corp. | 944,988 | 13,855 | |
Stantec, Inc. | 601,890 | 28,274 | |
42,129 | |||
France—2.4% | |||
Veolia Environnement S.A. | 788,374 | 24,089 | |
Ireland—2.8% | |||
STERIS plc | 51,552 | 10,531 | |
Trane Technologies plc | 105,471 | 18,210 | |
28,741 | |||
Italy—0.9% | |||
Hera SpA | 2,189,318 | 8,926 | |
Japan—1.8% | |||
Kubota Corp. | 883,500 | 18,803 | |
Netherlands—1.7% | |||
Arcadis NV | 338,278 | 16,896 | |
Sweden—5.1% | |||
Alfa Laval AB | 1,396,043 | 52,070 | |
Switzerland—11.2% | |||
Bucher Industries AG | 30,193 | 14,336 | |
Geberit AG | 59,241 | 43,495 | |
Georg Fischer AG | 24,529 | 36,326 | |
Sika AG Registered Shares | 61,823 | 19,547 | |
113,704 | |||
United Kingdom—10.7% | |||
CNH Industrial NV | 1,089,448 | 18,313 | |
Halma plc | 911,208 | 34,757 | |
Pennon Group plc | 1,562,318 | 23,814 | |
Severn Trent plc | 918,404 | 32,152 | |
109,036 | |||
Shares | Value | ||
United States—54.3% | |||
AGCO Corp. | 170,297 | $ 20,867 | |
Agilent Technologies, Inc. | 98,100 | 15,454 | |
American Water Works Co., Inc. | 340,527 | 57,563 | |
Badger Meter, Inc. | 196,858 | 19,910 | |
Danaher Corp. | 126,110 | 38,393 | |
Deere & Co. | 69,516 | 23,293 | |
Ecolab, Inc. | 84,994 | 17,731 | |
Evoqua Water Technologies Corp.(1) | 463,454 | 17,407 | |
Fortune Brands Home & Security, Inc. | 203,613 | 18,207 | |
Franklin Electric Co., Inc. | 335,867 | 26,819 | |
IDEX Corp. | 176,842 | 36,597 | |
Itron, Inc.(1) | 273,061 | 20,652 | |
Lindsay Corp. | 122,196 | 18,548 | |
Mueller Water Products, Inc. Class A | 653,447 | 9,945 | |
PerkinElmer, Inc. | 125,973 | 21,830 | |
Tetra Tech, Inc. | 201,384 | 30,075 | |
Thermo Fisher Scientific, Inc. | 64,707 | 36,969 | |
Trimble, Inc.(1) | 305,766 | 25,149 | |
Valmont Industries, Inc. | 84,034 | 19,758 | |
Waste Management, Inc. | 105,543 | 15,764 | |
Xylem, Inc. | 509,007 | 62,954 | |
553,885 | |||
Total Common Stocks (Identified Cost $679,465) | 994,203 | ||
Rights—0.1% | |||
France—0.1% | |||
Veolia Environnement S.A.(1) | 788,374 | 616 | |
Total Rights (Identified Cost $—) | 616 | ||
Total Long-Term Investments—97.6% (Identified Cost $679,465) | 994,819 | ||
Shares | Value | ||
Short-Term Investment—1.4% | |||
Money Market Mutual Fund—1.4% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 14,252,527 | $ 14,253 | |
Total Short-Term Investment (Identified Cost $14,253) | 14,253 | ||
TOTAL INVESTMENTS—99.0% (Identified Cost $693,718) | $1,009,072 | ||
Other assets and liabilities, net—1.0% | 10,544 | ||
NET ASSETS—100.0% | $1,019,616 |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 56% |
Switzerland | 11 |
United Kingdom | 11 |
Sweden | 5 |
Canada | 4 |
Ireland | 3 |
France | 2 |
Other | 8 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $ 994,203 | $624,755 | $369,448 | ||
Rights | 616 | 616 | — | ||
Money Market Mutual Fund | 14,253 | 14,253 | — | ||
Total Investments | $1,009,072 | $639,624 | $369,448 |
Shares | Value | ||
Preferred Stock—4.4% | |||
South Korea—4.4% | |||
Samsung Electronics Co., Ltd. | 112,522 | $ 6,564 | |
Total Preferred Stock (Identified Cost $6,226) | 6,564 | ||
Common Stocks—93.3% | |||
Argentina—0.7% | |||
MercadoLibre, Inc.(1) | 600 | 1,008 | |
Brazil—3.2% | |||
Ambipar Participacoes e Empreendimentos S.A. | 136,600 | 1,180 | |
B3 SA - Brasil Bolsa Balcao | 723,648 | 1,698 | |
Cia de Locacao das Americas | 197,407 | 867 | |
Magazine Luiza S.A. | 236,900 | 625 | |
StoneCo Ltd. Class A(1) | 13,626 | 473 | |
4,843 | |||
China—35.9% | |||
Aier Eye Hospital Group Co. Ltd. Class A | 129,293 | 1,066 | |
Alibaba Group Holding Ltd.(1) | 387,100 | 7,167 | |
A-Living Smart City Services Co., Ltd. | 155,000 | 550 | |
Anhui Conch Cement Co., Ltd. Class H | 70,000 | 378 | |
ANTA Sports Products Ltd. | 51,000 | 963 | |
Bank of Ningbo Co., Ltd. Class A | 58,954 | 320 | |
China Construction Bank Corp. Class H | 734,000 | 524 | |
China Lesso Group Holdings Ltd. | 196,000 | 312 | |
China Merchants Bank Co., Ltd. Class A | 115,544 | 898 | |
China Merchants Bank Co., Ltd. Class H | 505,100 | 4,020 | |
CIFI Holdings Group Co., Ltd. | 690,000 | 468 | |
CSPC Pharmaceutical Group Ltd. | 274,800 | 328 | |
Double Medical Technology, Inc. Class A | 47,100 | 384 | |
East Money Information Co., Ltd. Class A | 505,766 | 2,674 | |
ENN Energy Holdings Ltd. | 54,900 | 905 | |
Foshan Haitian Flavouring & Food Co., Ltd. Class A | 49,243 | 835 | |
Gree Electric Appliances, Inc. of Zhuhai Class A | 134,100 | 801 | |
Hangzhou Tigermed Consulting Co. Ltd. Class A | 42,200 | 1,135 | |
JD.com, Inc. Class A(1) | 28,100 | 1,013 |
Shares | Value | ||
China—continued | |||
Jiangsu Hengli Hydraulic Co., Ltd. Class A | 80,100 | $ 1,046 | |
Kweichow Moutai Co., Ltd. Class A | 3,200 | 903 | |
Li Ning Co., Ltd. | 112,500 | 1,297 | |
Longfor Group Holdings Ltd. | 141,500 | 647 | |
LONGi Green Energy Technology Co., Ltd. Class A | 91,140 | 1,158 | |
Luxshare Precision Industry Co., Ltd. Class A | 1,004,130 | 5,509 | |
Meituan Class B(1) | 32,700 | 1,044 | |
Midea Group Co., Ltd. Class A | 94,200 | 1,013 | |
NetEase, Inc. | 36,300 | 614 | |
Ping An Insurance Group Co. of China Ltd. Class H | 277,000 | 1,894 | |
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 248,000 | 440 | |
Shenzhou International Group Holdings Ltd. | 20,600 | 437 | |
Sino Biopharmaceutical Ltd. | 282,500 | 234 | |
Tencent Holdings Ltd. | 162,300 | 9,689 | |
Wuliangye Yibin Co., Ltd. Class A | 26,855 | 909 | |
Wuxi Biologics Cayman, Inc.(1) | 67,500 | 1,095 | |
Yealink Network Technology Corp. Ltd. Class A | 35,835 | 450 | |
Yihai International Holding Ltd.(1) | 97,000 | 541 | |
53,661 | |||
Hong Kong—3.9% | |||
AIA Group Ltd. | 53,800 | 619 | |
China Mengniu Dairy Co., Ltd.(1) | 170,000 | 1,095 | |
Hong Kong Exchanges & Clearing Ltd. | 18,900 | 1,161 | |
SITC International Holdings Co., Ltd. | 270,000 | 961 | |
SUNeVision Holdings Ltd. | 686,000 | 645 | |
Techtronic Industries Co., Ltd. | 70,500 | 1,393 | |
5,874 | |||
India—9.4% | |||
Aarti Industries Ltd. | 76,014 | 950 | |
Asian Paints Ltd. | 26,188 | 1,142 | |
Atul Ltd. | 6,323 | 804 | |
Bajaj Finserv Ltd. | 2,552 | 610 | |
Britannia Industries Ltd. | 10,478 | 556 | |
Coromandel International Ltd. | 92,616 | 987 | |
HDFC Bank Ltd. | 53,285 | 1,139 | |
Hindustan Unilever Ltd. | 14,046 | 511 | |
Indraprastha Gas Ltd. | 139,067 | 996 | |
Infosys Ltd. | 54,304 | 1,217 |
Shares | Value | ||
India—continued | |||
Ipca Laboratories Ltd. | 38,744 | $ 1,254 | |
Manappuram Finance Ltd. | 182,000 | 412 | |
Muthoot Finance Ltd. | 20,073 | 390 | |
Reliance Industries Ltd. | 73,237 | 2,479 | |
Tata Consultancy Services Ltd. | 13,409 | 679 | |
14,126 | |||
Indonesia—0.7% | |||
Bank Central Asia Tbk PT | 446,100 | 1,087 | |
Kazakhstan—0.8% | |||
Kaspi.KZ JSC GDR | 11,098 | 1,183 | |
Netherlands—2.4% | |||
ASM International N.V. | 2,708 | 1,060 | |
ASML Holding N.V. | 1,480 | 1,106 | |
Prosus N.V.(1) | 5,092 | 408 | |
Yandex N.V. Class A(1) | 12,066 | 961 | |
3,535 | |||
Poland—0.7% | |||
Dino Polska S.A.(1) | 12,505 | 1,043 | |
Russia—1.0% | |||
LUKOIL PJSC Sponsored ADR | 11,153 | 1,059 | |
Polyus PJSC GDR | 5,431 | 444 | |
1,503 | |||
Saudi Arabia—1.4% | |||
Abdullah Al Othaim Markets Co. | 16,408 | 493 | |
Al Rajhi Bank | 18,733 | 610 | |
Saudi Arabian Oil Co. | 107,268 | 1,029 | |
2,132 | |||
Singapore—2.1% | |||
Keppel DC REIT | 462,200 | 844 | |
Mapletree Industrial Trust | 437,800 | 895 | |
Sea Ltd. ADR(1) | 4,139 | 1,319 | |
3,058 | |||
South Africa—3.8% | |||
AngloGold Ashanti Ltd. | 43,362 | 695 | |
Capitec Bank Holdings Ltd. | 6,810 | 826 | |
Clicks Group Ltd. | 56,489 | 1,041 | |
Gold Fields Ltd. Sponsored ADR | 312,286 | 2,536 | |
Naspers Ltd. Class N | 3,318 | 548 | |
5,646 | |||
South Korea—4.7% | |||
Coupang, Inc. Class A(1) | 27,019 | 753 | |
Douzone Bizon Co., Ltd. | 6,899 | 554 | |
Hansol Chemical Co., Ltd. | 2,780 | 806 | |
Kakao Corp. | 8,499 | 836 | |
Macquarie Korea Infrastructure Fund | 42,125 | 455 |
Shares | Value | ||
South Korea—continued | |||
NAVER Corp. | 2,682 | $ 870 | |
NCSoft Corp. | 913 | 463 | |
NICE Information Service Co., Ltd. | 30,455 | 522 | |
Samsung Electronics Co., Ltd. | 17,057 | 1,057 | |
SK Hynix, Inc. | 8,457 | 724 | |
7,040 | |||
Taiwan—11.9% | |||
Accton Technology Corp. | 70,000 | 660 | |
ASMedia Technology, Inc. | 14,000 | 827 | |
ASPEED Technology, Inc. | 15,000 | 1,235 | |
Chailease Holding Co., Ltd. | 94,206 | 827 | |
E.Sun Financial Holding Co., Ltd. | 1,193,774 | 1,123 | |
Getac Technology Corp. | 120,000 | 221 | |
Lotes Co., Ltd. | 44,000 | 871 | |
MediaTek, Inc. | 28,000 | 901 | |
Micro-Star International Co., Ltd. | 102,000 | 471 | |
Parade Technologies Ltd. | 18,000 | 1,054 | |
Poya International Co., Ltd. | 26,780 | 453 | |
Realtek Semiconductor Corp. | 51,200 | 902 | |
Sinbon Electronics Co., Ltd. | 89,000 | 748 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 109,000 | 2,254 | |
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 7,667 | 856 | |
Taiwan Union Technology Corp. | 62,000 | 238 | |
Unimicron Technology Corp. | 220,000 | 1,029 | |
Vanguard International Semiconductor Corp. | 245,000 | 1,315 | |
Voltronic Power Technology Corp. | 21,350 | 1,302 | |
Wiwynn Corp. | 17,133 | 531 | |
17,818 | |||
Thailand—1.1% | |||
Carabao Group PCL NVDR | 147,800 | 520 | |
Global Power Synergy PCL NVDR | 405,500 | 900 |
Shares | Value | ||
Thailand—continued | |||
Tisco Financial Group PCL NVDR | 87,400 | $ 236 | |
1,656 | |||
United States—9.6% | |||
Advanced Micro Devices, Inc.(1) | 12,950 | 1,333 | |
American Tower Corp. | 3,501 | 929 | |
Broadcom, Inc. | 2,271 | 1,101 | |
Fabrinet (1) | 8,735 | 895 | |
Lam Research Corp. | 1,416 | 806 | |
Micron Technology, Inc. | 13,109 | 931 | |
Monolithic Power Systems, Inc. | 2,993 | 1,451 | |
NVIDIA Corp. | 6,168 | 1,278 | |
Skyworks Solutions, Inc. | 5,137 | 846 | |
Southern Copper Corp. | 9,554 | 536 | |
Teradyne, Inc. | 39,159 | 4,275 | |
14,381 | |||
Total Common Stocks (Identified Cost $115,986) | 139,594 | ||
Total Long-Term Investments—97.7% (Identified Cost $122,212) | 146,158 | ||
Short-Term Investment—2.7% | |||
Money Market Mutual Fund—2.7% | |||
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.030%)(2) | 4,042,719 | 4,043 | |
Total Short-Term Investment (Identified Cost $4,043) | 4,043 | ||
TOTAL INVESTMENTS—100.4% (Identified Cost $126,255) | $150,201 | ||
Other assets and liabilities, net—(0.4)% | (537) | ||
NET ASSETS—100.0% | $149,664 |
Abbreviations: | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
JSC | Joint Stock Company |
NVDR | Non-Voting Depositary Receipts |
PJSC | Public Joint Stock Company |
REIT | Real Estate Investment Trust |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
China | 36% |
United States | 12 |
Taiwan | 12 |
India | 9 |
South Korea | 9 |
Hong Kong | 4 |
South Africa | 4 |
Other | 14 |
Total | 100% |
† % of total investments as of September 30, 2021. |
Total Value at September 30, 2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $139,594 | $28,740 | $110,854 | ||
Preferred Stock | 6,564 | — | 6,564 | ||
Money Market Mutual Fund | 4,043 | 4,043 | — | ||
Total Investments | $150,201 | $32,783 | $117,418 |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 3,036,897 | $ 58,671 | $ 3,956 | $ 179,805 | |||
Investment in affiliates at value(2) | — | — | — | 95,077 | |||
Foreign currency at value(3) | — | — | 73 | 39 | |||
Cash | 2,792 | 48 | 50 | 100 | |||
Due from broker | — | — | — | 8,549 | |||
Cash pledged as collateral for futures | — | 17 | — | 3,064 | |||
Cash pledged as collateral for cleared swaps | — | 366 | — | 339 | |||
Margin due from counterparty on cleared swaps | — | 596 | — | 596 | |||
Receivables | |||||||
Investment securities sold | 3,154 | 4,078 | 2,957 | 2,401 | |||
Fund shares sold | 8,505 | — | — | 8 | |||
Dividends and interest | 3,353 | 256 | 9 | 521 | |||
Tax reclaims | — | — | 13 | 17 | |||
Prepaid Trustees’ retainer | — | — | — | — | |||
Prepaid expenses | 83 | 23 | 14 | 39 | |||
Other assets | 230 | 2 | 9 | 85 | |||
Total assets | 3,055,014 | 64,057 | 7,081 | 290,640 | |||
Liabilities | |||||||
Due to Broker | — | 107 | — | — | |||
Variation margin payable on futures contracts | — | 1 | — | 351 | |||
Swaps at value(4) | — | 583 | — | 529 | |||
Payables | |||||||
Fund shares repurchased | 4,556 | — | 3,134 | 94 | |||
Investment securities purchased | 35,539 | 9,063 | — | 3,013 | |||
Investment advisory fees | 1,027 | 36 | 64 | 47 | |||
Distribution and service fees | 310 | — | — (a) | 15 | |||
Administration and accounting fees | 248 | 5 | 1 | 25 | |||
Transfer agent and sub-transfer agent fees and expenses | 567 | 2 | 1 | 26 | |||
Professional fees | 94 | 42 | 36 | 33 | |||
Trustee deferred compensation plan | 230 | 2 | 9 | 85 | |||
Interest expense and/or commitment fees | 3 | 1 | — (a) | — (a) | |||
Other accrued expenses | 244 | 11 | 11 | 23 | |||
Total liabilities | 42,818 | 9,853 | 3,256 | 4,241 | |||
Net Assets | $ 3,012,196 | $ 54,204 | $ 3,825 | $ 286,399 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 2,147,428 | $ 53,532 | $ (728) | $ 239,595 | |||
Accumulated earnings (loss) | 864,768 | 672 | 4,553 | 46,804 | |||
Net Assets | $ 3,012,196 | $ 54,204 | $ 3,825 | $ 286,399 | |||
Net Assets: | |||||||
Class A | $ 396,378 | $ — | $ 92 | $ 49,743 | |||
Class C | $ 141,138 | $ — | $ — | $ 2,558 | |||
Class P | $ 808,844 | $ 12 | $ — | $ 6,536 | |||
Institutional Class | $ 1,640,171 | $ 1,650 | $ 3,733 | $ 10,820 | |||
Class R6 | $ — | $ 52,542 | $ — | $ 216,700 | |||
Administrative Class | $ 25,665 | $ — | $ — | $ 42 |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | ||||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | 8,665,508 | — | 5,682 | 4,149,758 | |||
Class C | 3,044,292 | — | — | 204,641 | |||
Class P | 18,287,187 | 809 | — | 554,155 | |||
Institutional Class | 36,599,628 | 107,734 | 227,652 | 909,998 | |||
Class R6 | — | 3,426,384 | — | 18,698,011 | |||
Administrative Class | 568,477 | — | — | 3,402 | |||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ 45.74 | $ — | $ 16.21 | $ 11.99 | |||
Class C | $ 46.36 | $ — | $ — | $ 12.50 | |||
Class P | $ 44.23 | $ 15.35 | $ — | $ 11.79 | |||
Institutional Class | $ 44.81 | $ 15.32 | $ 16.40 | $ 11.89 | |||
Class R6 | $ — | $ 15.33 | $ — | $ 11.59 | |||
Administrative Class | $ 45.15 | $ — | $ — | $ 12.42 | |||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ 48.40 | $ — | $ 17.15 | $ 12.69 | |||
Maximum Sales Charge - Class A | 5.50% | —% | 5.50% | 5.50% | |||
(1) Investment in securities at cost | $ 2,645,828 | $ 58,097 | $ 2,984 | $ 177,800 | |||
(2) Investment in affiliates at cost | $ — | $ — | $ — | $ 68,576 | |||
(3) Foreign currency at cost | $ — | $ — | $ 75 | $ 38 | |||
(4) Includes premiums paid (received) on swaps | $ — | $ (582) | $ — | $ (534) |
(a) | Amount is less than $500. |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 54,890 | $ 125,481 | $ 69,811 | $ 76,688 | |||
Investment in affiliates at value(2) | — | — | 1,894 | — | |||
Foreign currency at value(3) | 67 | — | — | 198 | |||
Cash | 50 | 100 | 50 | 50 | |||
Due from broker | 732 | — | — | — | |||
Cash pledged as collateral for futures | 1,073 | — | — | — | |||
Cash pledged as collateral for cleared swaps | 46 | — | — | — | |||
Margin due from counterparty on cleared swaps | 82 | — | — | — | |||
Receivables | |||||||
Investment securities sold | 741 | — | — | 736 | |||
Fund shares sold | 54 | 8 | 1 | 30 | |||
Dividends and interest | 142 | 27 | 872 | 178 | |||
Tax reclaims | 58 | 98 | 3 | 334 | |||
Prepaid expenses | 44 | 27 | 40 | 36 | |||
Other assets | 46 | 6 | 60 | 34 | |||
Total assets | 58,025 | 125,747 | 72,731 | 78,284 | |||
Liabilities | |||||||
Variation margin payable on futures contracts | 89 | — | — | — | |||
Swaps at value(4) | 121 | — | — | — | |||
Payables | |||||||
Fund shares repurchased | 2 | 10 | 1 | 44 | |||
Investment securities purchased | 900 | — | 2,505 | 958 | |||
Investment advisory fees | 85 | 98 | 90 | 103 | |||
Distribution and service fees | 2 | 8 | 10 | 8 | |||
Administration and accounting fees | 5 | 11 | 6 | 8 | |||
Transfer agent and sub-transfer agent fees and expenses | 8 | 16 | 15 | 16 | |||
Professional fees | 28 | 37 | 41 | 39 | |||
Trustee deferred compensation plan | 46 | 6 | 60 | 34 | |||
Interest expense and/or commitment fees | — (a) | — (a) | — (a) | — (a) | |||
Other accrued expenses | 28 | 36 | 12 | 27 | |||
Total liabilities | 1,314 | 222 | 2,740 | 1,237 | |||
Net Assets | $ 56,711 | $ 125,525 | $ 69,991 | $ 77,047 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 44,681 | $ 66,404 | $ 108,757 | $ 47,639 | |||
Accumulated earnings (loss) | 12,030 | 59,121 | (38,766) | 29,408 | |||
Net Assets | $ 56,711 | $ 125,525 | $ 69,991 | $ 77,047 | |||
Net Assets: | |||||||
Class A | $ 3,648 | $ 5,305 | $ 20,763 | $ 4,853 | |||
Class C | $ 944 | $ — | $ 2,255 | $ 373 | |||
Class P | $ 16,310 | $ 5,336 | $ 4,196 | $ 10,911 | |||
Institutional Class | $ 13,464 | $ 114,884 | $ 42,666 | $ 29,125 | |||
Class R6 | $ 22,314 | $ — | $ — | $ 31,785 | |||
Administrative Class | $ 31 | $ — | $ 111 | $ — |
AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | ||||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | 208,886 | 208,034 | 2,314,466 | 115,807 | |||
Class C | 55,485 | — | 251,889 | 9,300 | |||
Class P | 902,332 | 207,493 | 491,353 | 261,173 | |||
Institutional Class | 754,219 | 4,372,137 | 4,978,442 | 673,547 | |||
Class R6 | 1,264,466 | — | — | 741,517 | |||
Administrative Class | 1,799 | — | 13,059 | — | |||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ 17.46 | $ 25.50 | $ 8.97 | $ 41.91 | |||
Class C | $ 17.00 | $ — | $ 8.95 | $ 40.12 | |||
Class P | $ 18.08 | $ 25.72 | $ 8.54 | $ 41.77 | |||
Institutional Class | $ 17.85 | $ 26.28 | $ 8.57 | $ 43.24 | |||
Class R6 | $ 17.65 | $ — | $ — | $ 42.86 | |||
Administrative Class | $ 17.38 | $ — | $ 8.52 | $ — | |||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ 18.48 | $ 26.98 | $ 9.32 | $ 44.35 | |||
Maximum Sales Charge - Class A | 5.50% | 5.50% | 3.75% | 5.50% | |||
(1) Investment in securities at cost | $ 50,193 | $ 88,345 | $ 70,668 | $ 57,746 | |||
(2) Investment in affiliates at cost | $ — | $ — | $ 1,857 | $ — | |||
(3) Foreign currency at cost | $ 68 | $ — | $ — | $ 198 | |||
(4) Includes premiums paid (received) on swaps | $ (81) | $ — | $ — | $ — |
(a) | Amount is less than $500. |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | AllianzGI Water Fund | NFJ Emerging Markets Value Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 23,177 | $ 748,119 | $ 1,009,072 | $ 150,201 | |||
Foreign currency at value(2) | — | — | 6,034 | — | |||
Cash | 50 | 100 | 100 | 100 | |||
Cash pledged as collateral for futures | 2 | — | — | — | |||
Cash pledged as collateral for cleared swaps | 113 | — | — | — | |||
Margin due from counterparty on cleared swaps | 213 | — | — | — | |||
Variation margin receivable on futures contracts | — (a) | — | — | — | |||
Receivables | |||||||
Investment securities sold | 97 | 5,293 | 3 | — | |||
Fund shares sold | 225 | 1,081 | 4,719 | 91 | |||
Dividends and interest | 182 | 12,297 | 845 | 163 | |||
Tax reclaims | — | — | 1,095 | 6 | |||
Prepaid expenses | 22 | 48 | 47 | 38 | |||
Other assets | — (a) | 272 | 133 | 20 | |||
Total assets | 24,081 | 767,210 | 1,022,048 | 150,619 | |||
Liabilities | |||||||
Due to custodian | — | — | — | — | |||
Due to Broker | 90 | — | — | — | |||
Swaps at value(3) | 208 | — | — | — | |||
Payables | |||||||
Fund shares repurchased | 1 | 1,446 | 997 | 177 | |||
Investment securities purchased | 492 | 21,972 | 3 | — | |||
Foreign capital gains tax | — | — | — | 493 | |||
Investment advisory fees | 30 | 289 | 549 | 106 | |||
Distribution and service fees | — | 281 | 250 | 9 | |||
Administration and accounting fees | 2 | 62 | 88 | 13 | |||
Transfer agent and sub-transfer agent fees and expenses | 2 | 176 | 232 | 57 | |||
Professional fees | 38 | 46 | 47 | 27 | |||
Trustee deferred compensation plan | — (a) | 272 | 133 | 20 | |||
Interest expense and/or commitment fees | — (a) | 1 | 1 | — (a) | |||
Other accrued expenses | 5 | 72 | 132 | 53 | |||
Total liabilities | 868 | 24,617 | 2,432 | 955 | |||
Net Assets | $ 23,213 | $ 742,593 | $ 1,019,616 | $ 149,664 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 20,796 | $ 900,187 | $ 624,290 | $ 135,961 | |||
Accumulated earnings (loss) | 2,417 | (157,594) | 395,326 | 13,703 | |||
Net Assets | $ 23,213 | $ 742,593 | $ 1,019,616 | $ 149,664 | |||
Net Assets: | |||||||
Class A | $ — | $ 145,424 | $ 286,453 | $ 15,565 | |||
Class C | $ — | $ 77,032 | $ 68,805 | $ 914 | |||
Class P | $ 13 | $ 247,819 | $ 339,111 | $ 10,449 | |||
Institutional Class | $ 6,904 | $ 251,201 | $ 325,247 | $ 122,736 | |||
Class R6 | $ 16,296 | $ 21,117 | $ — | $ — | |||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | — | 9,970,075 | 12,761,061 | 774,001 | |||
Class C | — | 5,265,950 | 3,249,121 | 45,435 | |||
Class P | 804 | 17,070,677 | 15,054,121 | 522,655 | |||
Institutional Class | 421,910 | 17,359,506 | 14,742,699 | 6,142,810 | |||
Class R6 | 996,305 | 1,457,966 | — | — |
AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | AllianzGI Water Fund | NFJ Emerging Markets Value Fund | ||||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ — | $ 14.59 | $ 22.45 | $ 20.11 | |||
Class C | $ — | $ 14.63 | $ 21.18 | $ 20.12 | |||
Class P | $ 16.35 | $ 14.52 | $ 22.53 | $ 19.99 | |||
Institutional Class | $ 16.36 | $ 14.47 | $ 22.06 | $ 19.98 | |||
Class R6 | $ 16.36 | $ 14.48 | $ — | $ — | |||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ — | $ 14.93 | $ 23.76 | $ 21.28 | |||
Maximum Sales Charge - Class A | —% | 2.25% | 5.50% | 5.50% | |||
(1) Investment in securities at cost | $ 22,105 | $ 758,761 | $ 693,718 | $ 126,255 | |||
(2) Foreign currency at cost | $ — | $ — | $ 6,173 | $ — | |||
(3) Includes premiums paid (received) on swaps | $ (213) | $ — | $ — | $ — |
(a) | Amount is less than $500. |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | AllianzGI Global Dynamic Allocation Fund | |||||
Investment Income | |||||||||
Dividends | $17,714 | $ 22 | $ 302 | $ 1,272 | $ 560 | ||||
Dividends from affiliated | — | — | — | 2,466 | 121 | ||||
Interest | 16,048 | 1,159 | — | 1,448 | 361 | ||||
Foreign taxes withheld | — | — | (45) | (56) | (42) | ||||
Total investment income | 33,762 | 1,181 | 257 | 5,130 | 1,000 | ||||
Expenses | |||||||||
Investment advisory fees | 15,948 | 163 | 133 | 2,045 | 357 | ||||
Distribution and service fees, Class A | 967 | — | — (1) | 126 | 6 | ||||
Distribution and service fees, Class C | 1,409 | — | — | 31 | 7 | ||||
Distribution and service fees, Class R | 1 | — | — | — (1) | — (1) | ||||
Distribution and service fees, Class P | 89 | — | — | 2 | — (1) | ||||
Distribution and service fees, Administrative Class | 58 | — | — | — (1) | — (1) | ||||
Administration and accounting fees | 1,865 | 37 | 10 | 189 | 35 | ||||
Transfer agent fees and expenses | 931 | 18 | 4 | 111 | 19 | ||||
Sub-transfer agent fees and expenses, Class A | 225 | — | — (1) | 22 | 1 | ||||
Sub-transfer agent fees and expenses, Class C | 80 | — | — | 1 | — (1) | ||||
Sub-transfer agent fees and expenses, Class R | — (1) | — | — | — | — (1) | ||||
Sub-transfer agent fees and expenses, Class P | 646 | — | — | 6 | 2 | ||||
Sub-transfer agent fees and expenses, Institutional Class | 860 | — (1) | — (1) | — (1) | 11 | ||||
Sub-transfer agent fees and expenses, Administrative Class | 2 | — | — | 1 | — (1) | ||||
Custodian fees | 264 | 38 | 66 | 84 | 144 | ||||
Printing fees and expenses | 215 | — | — | 16 | 1 | ||||
Professional fees | 180 | 46 | 47 | 62 | 73 | ||||
Interest expense and/or commitment fees | 2 | 2 | — (1) | 1 | — (1) | ||||
Registration fees | 213 | 46 | 35 | 98 | 98 | ||||
Trustees’ fees and expenses | 245 | 6 | 3 | 31 | 7 | ||||
Miscellaneous expenses | 100 | 7 | 7 | 25 | 17 | ||||
Total expenses | 24,300 | 363 | 305 | 2,851 | 778 | ||||
Less net expenses reimbursed and/or waived by investment adviser(2) | (2,398) | (225) | (140) | (1,907) | (469) | ||||
Net expenses | 21,902 | 138 | 165 | 944 | 309 | ||||
Net investment income (loss) | 11,860 | 1,043 | 92 | 4,186 | 691 | ||||
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | AllianzGI Global Dynamic Allocation Fund | |||||
Net Realized and Unrealized Gain (Loss) on Investments | |||||||||
Net realized gain (loss) from: | |||||||||
Investments | $498,165 | $ 865 | $12,470 | $ 5,250 | $ 5,036 | ||||
Investments in affiliates | — | — | — | 3,406 | (2,547) | ||||
Foreign currency transactions | — | (2) | (16) | (36) | 38 | ||||
Forward foreign currency transactions | — | — | — (1) | — (1) | (2) | ||||
Futures | — | (119) | — | 8,935 | 3,119 | ||||
Swaps | — | (323) | — | 43 | 580 | ||||
Net increase from payment by affiliate(3) | — | — | — | 19 | 5 | ||||
Capital gain received from investments in underlying funds | — | — | — | 4,055 | 4,137 | ||||
Net change in unrealized appreciation (depreciation) on: | |||||||||
Investments | 40,697 | (404) | (9,589) | 334 | 1,639 | ||||
Investments in affiliates | — | — | — | 15,281 | (1,351) | ||||
Foreign currency transactions | — | — | (5) | (28) | (7) | ||||
Futures | — | 58 | — | (597) | (152) | ||||
Swaps | — | 331 | — | 4 | (50) | ||||
Net realized and unrealized gain (loss) on investments | 538,862 | 406 | 2,860 | 36,666 | 10,445 | ||||
Net increase (decrease) in net assets resulting from operations | $550,722 | $1,449 | $ 2,952 | $40,852 | $11,136 |
(1) | Amount is less than $500. |
(2) | See Note 4D in Notes to Financial Statements. |
(3) | See Note 4G in Notes to Financial Statements. |
AllianzGI Global Sustainability Fund | AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | |||||
Investment Income | |||||||||
Dividends | $ 2,251 | $ 432 | $ 1,677 | $ 350 | $ 4 | ||||
Interest | — | 4,154 | — | 746 | 40,077 | ||||
Foreign taxes withheld | (132) | (7) | (177) | — | — | ||||
Total investment income | 2,119 | 4,579 | 1,500 | 1,096 | 40,081 | ||||
Expenses | |||||||||
Investment advisory fees | 1,218 | 362 | 859 | 101 | 3,771 | ||||
Distribution and service fees, Class A | 10 | 53 | 13 | — | 364 | ||||
Distribution and service fees, Class C | — | 30 | 6 | — | 433 | ||||
Distribution and service fees, Class R | — | — (1) | 1 | — | — | ||||
Distribution and service fees, Class P | 6 | 2 | 3 | — | 86 | ||||
Distribution and service fees, Administrative Class | — | — (1) | — | — | — | ||||
Administration and accounting fees | 90 | 47 | 57 | 16 | 490 | ||||
Transfer agent fees and expenses | 45 | 27 | 30 | 7 | 268 | ||||
Sub-transfer agent fees and expenses, Class A | 2 | 14 | 5 | — | 65 | ||||
Sub-transfer agent fees and expenses, Class C | — | 2 | — (1) | — | 59 | ||||
Sub-transfer agent fees and expenses, Class R | — | — (1) | 1 | — | — | ||||
Sub-transfer agent fees and expenses, Class P | 14 | 5 | 11 | — | 238 | ||||
Sub-transfer agent fees and expenses, Institutional Class | 26 | 24 | 34 | 8 | 181 | ||||
Sub-transfer agent fees and expenses, Administrative Class | — | 1 | — | — | — | ||||
Custodian fees | 136 | 31 | 109 | 22 | 108 | ||||
Printing fees and expenses | 5 | 1 | — | — | 42 | ||||
Professional fees | 48 | 45 | 43 | 43 | 69 | ||||
Interest expense and/or commitment fees | 1 | — (1) | — (1) | — (1) | 5 | ||||
Registration fees | 48 | 85 | 85 | 47 | 101 | ||||
Trustees’ fees and expenses | 18 | 9 | 9 | 3 | 87 | ||||
Miscellaneous expenses | 13 | 15 | 16 | 4 | 47 | ||||
Total expenses | 1,680 | 753 | 1,282 | 251 | 6,414 | ||||
Less net expenses reimbursed and/or waived by investment adviser(2) | (600) | (10) | (377) | (136) | (763) | ||||
Net expenses | 1,080 | 743 | 905 | 115 | 5,651 | ||||
Net investment income (loss) | 1,039 | 3,836 | 595 | 981 | 34,430 | ||||
Net Realized and Unrealized Gain (Loss) on Investments | |||||||||
Net realized gain (loss) from: | |||||||||
Investments | 21,616 | (2,022) | 11,176 | 1,638 | (2,872) | ||||
Foreign currency transactions | (26) | — | 28 | — (1) | — | ||||
Forward foreign currency transactions | 1 | — | (3) | — | — | ||||
Futures | — | — | — | (4) | — | ||||
Swaps | — | — | — | (136) | — | ||||
Net increase from payment by affiliate(3) | — | — | — | 4 | — | ||||
Net change in unrealized appreciation (depreciation) on: | |||||||||
Investments | 11,562 | 6,147 | 6,276 | 1,046 | 49,267 | ||||
Investments in affiliates | — | 1,282 | — | — | — | ||||
Foreign currency transactions | (2) | — | (21) | — | — | ||||
Forward foreign currency transactions | — | — | — (1) | — | — | ||||
Futures | — | — | — | (2) | — | ||||
Swaps | — | — | — | 130 | — | ||||
Net realized and unrealized gain (loss) on investments | 33,151 | 5,407 | 17,456 | 2,676 | 46,395 |
AllianzGI Global Sustainability Fund | AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | |||||
Net increase (decrease) in net assets resulting from operations | $34,190 | $ 9,243 | $18,051 | $3,657 | $80,825 |
(1) | Amount is less than $500. |
(2) | See Note 4D in Notes to Financial Statements. |
(3) | See Note 4G in Notes to Financial Statements. |
AllianzGI Water Fund | NFJ Emerging Markets Value Fund | ||
Investment Income | |||
Dividends | $ 22,727 | $ 2,508 | |
Foreign taxes withheld | (705) | (304) | |
Total investment income | 22,022 | 2,204 | |
Expenses | |||
Investment advisory fees | 8,494 | 1,341 | |
Distribution and service fees, Class A | 631 | 42 | |
Distribution and service fees, Class C | 673 | 11 | |
Distribution and service fees, Class P | 80 | 3 | |
Administration and accounting fees | 602 | 103 | |
Transfer agent fees and expenses | 309 | 52 | |
Sub-transfer agent fees and expenses, Class A | 180 | 11 | |
Sub-transfer agent fees and expenses, Class C | 55 | 1 | |
Sub-transfer agent fees and expenses, Class P | 288 | 27 | |
Sub-transfer agent fees and expenses, Institutional Class | 216 | 121 | |
Custodian fees | 245 | 206 | |
Printing fees and expenses | 63 | 7 | |
Professional fees | 72 | 44 | |
Interest expense and/or commitment fees | 3 | — (1) | |
Registration fees | 82 | 65 | |
Trustees’ fees and expenses | 81 | 16 | |
Miscellaneous expenses | 111 | 17 | |
Total expenses | 12,185 | 2,067 | |
Less net expenses reimbursed and/or waived by investment adviser(2) | (2,405) | (600) | |
Net expenses | 9,780 | 1,467 | |
Net investment income (loss) | 12,242 | 737 | |
Net Realized and Unrealized Gain (Loss) on Investments | |||
Net realized gain (loss) from: | |||
Investments | 74,295 | 15,389 | |
Foreign currency transactions | (51) | 33 | |
Foreign capital gains tax | — | — (1) | |
Forward foreign currency transactions | (28) | — | |
Net change in unrealized appreciation (depreciation) on: | |||
Investments | 125,508 | 1,569 | |
Foreign currency transactions | (117) | (33) | |
Foreign capital gains tax | — | (493) | |
Net realized and unrealized gain (loss) on investments | 199,607 | 16,465 | |
Net increase (decrease) in net assets resulting from operations | $211,849 | $17,202 |
(1) | Amount is less than $500. |
(2) | See Note 4D in Notes to Financial Statements. |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | |||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 11,860 | $ 11,292 | $ 1,043 | $ 1,465 | $ 92 | $ 413 | |||||
Net realized gain (loss) | 498,165 | 138,326 | 421 | 3,868 | 12,454 | (872) | |||||
Net change in unrealized appreciation (depreciation) | 40,697 | 296,228 | (15) | (258) | (9,594) | 5,541 | |||||
Increase (decrease) in net assets resulting from operations | 550,722 | 445,846 | 1,449 | 5,075 | 2,952 | 5,082 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (22,125) | (3,905) | — | — | (3) | (1) | |||||
Class C | (8,086) | (2,225) | — | — | — | — | |||||
Class R | (23) | (7) | — | — | — | — | |||||
Class P | (47,449) | (11,072) | (1) | (1) | — | — | |||||
Institutional Class | (94,311) | (23,304) | (7) | (1) | (524) | (437) | |||||
Class R6 | — | — | (5,032) | (3,643) | — | — | |||||
Administrative Class | (1,437) | (55) | — | — | — | — | |||||
Total dividends and distributions to shareholders | (173,431) | (40,568) | (5,040) | (3,645) | (527) | (438) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | 92,170 | 137,879 | — | — | 30 | (8) | |||||
Class C | 7,742 | 26,863 | — | — | — | — | |||||
Class R | (318) | 67 | — | — | — | — | |||||
Class P | 158,447 | 284,708 | 1 | 1 | — | — | |||||
Institutional Class | 393,391 | 451,431 | 1,631 | 27 | (34,141) | (8,373) | |||||
Class R6 | — | — | 5,729 | (10,465) | — | — | |||||
Administrative Class | 8,952 | 11,822 | — | — | — | — | |||||
Increase (decrease) in net assets from capital transactions | 660,384 | 912,770 | 7,361 | (10,437) | (34,111) | (8,381) | |||||
Net increase (decrease) in net assets | 1,037,675 | 1,318,048 | 3,770 | (9,007) | (31,686) | (3,737) | |||||
Net Assets | |||||||||||
Beginning of period | 1,974,521 | 656,473 | 50,434 | 59,441 | 35,511 | 39,248 | |||||
End of Period | $ 3,012,196 | $ 1,974,521 | $ 54,204 | $ 50,434 | $ 3,825 | $ 35,511 |
AllianzGI Global Allocation Fund | AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | |||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 4,186 | $ 4,326 | $ 691 | $ 1,691 | $ 1,039 | $ 1,278 | |||||
Net realized gain (loss) | 21,653 | 21,915 | 10,361 | 9,397 | 21,591 | 3,487 | |||||
Net increase from payment by affiliate(1) | 19 | — | 5 | — | — | — | |||||
Net change in unrealized appreciation (depreciation) | 14,994 | 3,684 | 79 | 35 | 11,560 | 22,095 | |||||
Increase (decrease) in net assets resulting from operations | 40,852 | 29,925 | 11,136 | 11,123 | 34,190 | 26,860 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (3,153) | (4,288) | (410) | (179) | (80) | (27) | |||||
Class C | (169) | (444) | (143) | (64) | — | — | |||||
Class R | (1) | (2) | (6) | (11) | — | — | |||||
Class P | (403) | (674) | (19) | (5) | (1,011) | (491) | |||||
Institutional Class | (739) | (587) | (3,319) | (1,011) | (4,100) | (2,565) | |||||
Class R6 | (16,125) | (24,244) | (8,451) | (11,996) | — | — | |||||
Administrative Class | (2) | (2) | (7) | (2) | — | — | |||||
Total dividends and distributions to shareholders | (20,592) | (30,241) | (12,355) | (13,268) | (5,191) | (3,083) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | (571) | (2,840) | 2,159 | (220) | 2,234 | 600 | |||||
Class C | (1,274) | (2,756) | 440 | (42) | — | — | |||||
Class R | (21) | 2 | (68) | (69) | — | — | |||||
Class P | 744 | (795) | 16,740 | (11,732) | (26,093) | 2,757 | |||||
Institutional Class | 431 | 3,520 | 1,522 | 3,066 | (42,410) | 110,563 | |||||
Class R6 | 9,982 | (57,148) | (8,304) | (94,041) | — | — | |||||
Administrative Class | 13 | 4 | 7 | 2 | — | — | |||||
Increase (decrease) in net assets from capital transactions | 9,304 | (60,013) | 12,496 | (103,036) | (66,269) | 113,920 | |||||
Net increase (decrease) in net assets | 29,564 | (60,329) | 11,277 | (105,181) | (37,270) | 137,697 | |||||
Net Assets | |||||||||||
Beginning of period | 256,835 | 317,164 | 45,434 | 150,615 | 162,795 | 25,098 | |||||
End of Period | $ 286,399 | $ 256,835 | $ 56,711 | $ 45,434 | $ 125,525 | $ 162,795 |
(1) | See Note 4G in Notes to Financial Statements. |
AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | AllianzGI Preferred Securities and Income Fund | |||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 3,836 | $ 5,555 | $ 595 | $ 570 | $ 981 | $ 954 | |||||
Net realized gain (loss) | (2,022) | (3,056) | 11,201 | 2,253 | 1,498 | 349 | |||||
Net increase from payment by affiliate(1) | — | — | — | — | 4 | — | |||||
Net change in unrealized appreciation (depreciation) | 7,429 | (3,143) | 6,255 | 3,857 | 1,174 | (690) | |||||
Increase (decrease) in net assets resulting from operations | 9,243 | (644) | 18,051 | 6,680 | 3,657 | 613 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (1,000) | (1,141) | (43) | (68) | — | — | |||||
Class C | (127) | (178) | (6) | (1) | — | — | |||||
Class R | (9) | (33) | (12) | (20) | — | — | |||||
Class P | (326) | (603) | (128) | (224) | (1) | (1) | |||||
Institutional | (2,439) | (4,000) | (499) | (629) | (363) | (290) | |||||
Class R6 | — | — | (431) | (690) | (856) | (1,120) | |||||
Administrative Class | (5) | (1) | — | — | — | — | |||||
Total dividends and distributions to shareholders | (3,906) | (5,956) | (1,119) | (1,632) | (1,220) | (1,411) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | (857) | (5,306) | 458 | (1,444) | — | — | |||||
Class C | (1,861) | (758) | (495) | (296) | — | — | |||||
Class R | (527) | (113) | (1,032) | (206) | — | — | |||||
Class P | (6,426) | (1,274) | (2,178) | (9,573) | 1 | 1 | |||||
Institutional | (12,456) | (21,242) | (9,967) | (11,043) | (1,492) | 4,359 | |||||
Class R6 | — | — | (4,443) | (394) | (3,245) | 4,258 | |||||
Administrative Class | 83 | 3 | — | — | — | — | |||||
Increase (decrease) in net assets from capital transactions | (22,044) | (28,690) | (17,657) | (22,956) | (4,736) | 8,618 | |||||
Net increase (decrease) in net assets | (16,707) | (35,290) | (725) | (17,908) | (2,299) | 7,820 | |||||
Net Assets | |||||||||||
Beginning of period | 86,698 | 121,988 | 77,772 | 95,680 | 25,512 | 17,692 | |||||
End of Period | $ 69,991 | $ 86,698 | $ 77,047 | $ 77,772 | $ 23,213 | $ 25,512 |
(1) | See Note 4G in Notes to Financial Statements. |
AllianzGI Short Duration High Income Fund | AllianzGI Water Fund | NFJ Emerging Markets Value Fund | |||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 34,430 | $ 48,272 | $ 12,242 | $ 3,027 | $ 737 | $ 1,321 | |||||
Net realized gain (loss) | (2,872) | (45,704) | 74,216 | 7,363 | 15,422 | 1,186 | |||||
Net change in unrealized appreciation (depreciation) | 49,267 | (42,227) | 125,391 | 58,381 | 1,043 | 18,437 | |||||
Increase (decrease) in net assets resulting from operations | 80,825 | (39,659) | 211,849 | 68,771 | 17,202 | 20,944 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (8,599) | (6,317) | (3,622) | (5,631) | (157) | (165) | |||||
Class C | (4,603) | (4,670) | (945) | (1,776) | (1) | (6) | |||||
Class P | (14,795) | (24,930) | (4,915) | (6,755) | (129) | (66) | |||||
Institutional Class | (17,396) | (17,989) | (4,511) | (5,443) | (1,796) | (1,388) | |||||
Class R6 | (1,606) | (2,118) | — | — | — | — | |||||
Total dividends and distributions to shareholders | (46,999) | (56,024) | (13,993) | (19,605) | (2,083) | (1,625) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | 3,040 | 9,166 | 30,189 | 9,749 | (1,008) | (1,390) | |||||
Class C | (18,088) | (20,544) | (4,402) | (16,575) | (222) | (143) | |||||
Class P | (28,217) | (182,217) | 30,967 | 13,026 | 2,702 | 4,356 | |||||
Institutional Class | (45,650) | (76,766) | 61,479 | 37,602 | (5,859) | 8,656 | |||||
Class R6 | (14,092) | (4,370) | — | — | — | — | |||||
Increase (decrease) in net assets from capital transactions | (103,007) | (274,731) | 118,233 | 43,802 | (4,387) | 11,479 | |||||
Net increase (decrease) in net assets | (69,181) | (370,414) | 316,089 | 92,968 | 10,732 | 30,798 | |||||
Net Assets | |||||||||||
Beginning of period | 811,774 | 1,182,188 | 703,527 | 610,559 | 138,932 | 108,134 | |||||
End of Period | $ 742,593 | $ 811,774 | $ 1,019,616 | $ 703,527 | $ 149,664 | $ 138,932 |
THROUGHOUT EACH PERIOD
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Convertible Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $38.77 | 0.11 | — | 9.73 | 9.84 | (0.20) | (2.67) | (2.87) | — | 6.97 | $45.74 | 25.71 % | $ 396,378 | 0.95 % (6) | 1.02 % | 0.25 % | 130 % | |
10/1/19 to 9/30/20 | 29.25 | 0.27 | — | 10.59 | 10.86 | (0.43) | (0.91) | (1.34) | — | 9.52 | 38.77 | 38.44 | 254,762 | 0.96 | 0.98 | 0.83 | 145 | |
10/1/18 to 9/30/19 | 32.78 | 0.29 | — | 0.63 | 0.92 | (0.90) | (3.55) | (4.45) | — | (3.53) | 29.25 | 5.29 | 69,611 | 1.02 | 1.02 | 0.99 | 143 | |
10/1/17 to 9/30/18 | 34.27 | 0.32 | — | 4.58 | 4.90 | (1.30) | (5.09) | (6.39) | — | (1.49) | 32.78 | 16.83 | 61,385 | 0.96 | 0.96 | 1.02 | 133 | |
10/1/16 to 9/30/17 | 31.02 | 0.38 | — | 3.64 | 4.02 | (0.77) | — | (0.77) | — | 3.25 | 34.27 | 13.14 | 76,586 | 1.02 | 1.02 | 1.19 | 124 (7) | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $39.39 | (0.24) | — | 9.88 | 9.64 | — (8) | (2.67) | (2.67) | — | 6.97 | $46.36 | 24.75 % | $ 141,138 | 1.72 % (6) | 1.77 % | (0.52) % | 130 % | |
10/1/19 to 9/30/20 | 29.61 | 0.02 | — | 10.77 | 10.79 | (0.10) | (0.91) | (1.01) | — | 9.78 | 39.39 | 37.40 | 112,523 | 1.73 | 1.74 | 0.06 | 145 | |
10/1/18 to 9/30/19 | 32.95 | 0.08 | — | 0.67 | 0.75 | (0.54) | (3.55) | (4.09) | — | (3.34) | 29.61 | 4.53 | 60,434 | 1.75 | 1.75 | 0.26 | 143 | |
10/1/17 to 9/30/18 | 34.36 | 0.08 | — | 4.59 | 4.67 | (0.99) | (5.09) | (6.08) | — | (1.41) | 32.95 | 15.90 | 53,461 | 1.73 | 1.73 | 0.24 | 133 | |
10/1/16 to 9/30/17 | 31.19 | 0.17 | — | 3.65 | 3.82 | (0.65) | — | (0.65) | — | 3.17 | 34.36 | 12.41 | 48,905 | 1.69 | 1.69 | 0.51 | 124 (7) | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $37.57 | 0.22 | — | 9.42 | 9.64 | (0.31) | (2.67) | (2.98) | — | 6.66 | $44.23 | 26.03 % | $ 808,844 | 0.69 % (9) | 0.81 % | 0.51 % | 130 % | |
10/1/19 to 9/30/20 | 28.45 | 0.34 | — | 10.27 | 10.61 | (0.58) | (0.91) | (1.49) | — | 9.12 | 37.57 | 38.78 | 547,783 | 0.71 | 0.71 | 1.08 | 145 | |
10/1/18 to 9/30/19 | 32.12 | 0.35 | — | 0.60 | 0.95 | (1.07) | (3.55) | (4.62) | — | (3.67) | 28.45 | 5.59 | 155,601 | 0.75 | 0.75 | 1.26 | 143 | |
10/1/17 to 9/30/18 | 33.95 | 0.38 | — | 4.50 | 4.88 | (1.62) | (5.09) | (6.71) | — | (1.83) | 32.12 | 17.08 | 102,412 | 0.74 | 0.74 | 1.24 | 133 | |
10/1/16 to 9/30/17 | 30.84 | 0.48 | — | 3.61 | 4.09 | (0.98) | — | (0.98) | — | 3.11 | 33.95 | 13.52 | 80,392 | 0.72 | 0.72 | 1.49 | 124 (7) | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $38.04 | 0.23 | — | 9.53 | 9.76 | (0.32) | (2.67) | (2.99) | — | 6.77 | $44.81 | 26.02 % | $1,640,171 | 0.69 % | 0.77 % | 0.51 % | 130 % | |
10/1/19 to 9/30/20 | 28.76 | 0.34 | — | 10.40 | 10.74 | (0.55) | (0.91) | (1.46) | — | 9.28 | 38.04 | 38.80 | 1,045,769 | 0.71 | 0.71 | 1.07 | 145 | |
10/1/18 to 9/30/19 | 32.41 | 0.37 | — | 0.61 | 0.98 | (1.08) | (3.55) | (4.63) | — | (3.65) | 28.76 | 5.62 | 370,111 | 0.72 | 0.72 | 1.29 | 143 | |
10/1/17 to 9/30/18 | 33.89 | 0.40 | — | 4.52 | 4.92 | (1.31) | (5.09) | (6.40) | — | (1.48) | 32.41 | 17.10 | 332,874 | 0.71 | 0.71 | 1.27 | 133 | |
10/1/16 to 9/30/17 | 30.76 | 0.49 | — | 3.61 | 4.10 | (0.97) | — | (0.97) | — | 3.13 | 33.89 | 13.58 | 322,732 | 0.68 | 0.68 | 1.54 | 124 (7) | |
Administrative Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $38.36 | 0.14 | — | 9.62 | 9.76 | (0.30) | (2.67) | (2.97) | — | 6.79 | $45.15 | 25.79 % | $ 25,665 | 0.91 % | 0.97 % | 0.31 % | 130 % | |
10/1/19 to 9/30/20 | 28.95 | 0.35 | — | 10.42 | 10.77 | (0.45) | (0.91) | (1.36) | — | 9.41 | 38.36 | 38.50 | 13,386 | 0.93 | 0.93 | 0.99 | 145 | |
10/1/18 to 9/30/19 | 32.46 | 0.30 | — | 0.61 | 0.91 | (0.87) | (3.55) | (4.42) | — | (3.51) | 28.95 | 5.29 | 550 | 0.97 | 0.97 | 1.03 | 143 | |
10/1/17 to 9/30/18 | 34.08 | 0.33 | — | 4.54 | 4.87 | (1.40) | (5.09) | (6.49) | — | (1.62) | 32.46 | 16.88 | 997 | 0.93 | 0.93 | 1.05 | 133 | |
10/1/16 to 9/30/17 | 30.96 | 0.42 | — | 3.62 | 4.04 | (0.92) | — | (0.92) | — | 3.12 | 34.08 | 13.30 | 1,240 | 0.89 | 0.89 | 1.32 | 124 (7) | |
AllianzGI Core Plus Bond Fund | ||||||||||||||||||
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $16.41 | 0.29 | — | 0.18 | 0.47 | (0.45) | (1.08) | (1.53) | — | (1.06) | $15.35 | 2.89 % | $ 12 | 0.35 % | 0.67 % | 1.83 % | 361 % | |
10/1/19 to 9/30/20 | 16.00 | 0.39 | — | 1.00 | 1.39 | (0.41) | (0.57) | (0.98) | — | 0.41 | 16.41 | 9.18 | 12 | 0.35 | 0.73 | 2.46 | 552 | |
10/1/18 to 9/30/19 | 14.92 | 0.46 | — | 1.06 | 1.52 | (0.44) | — | (0.44) | — | 1.08 | 16.00 | 10.39 | 11 | 0.35 | 0.93 | 3.01 | 864 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.14 | — | (0.11) | 0.03 | (0.11) | — | (0.11) | — | (0.08) | 14.92 | 0.18 | 10 | 0.35 | 1.19 (11) | 2.81 (11) | 302 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Core Plus Bond Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $16.41 | 0.04 | — | 0.43 | 0.47 | (0.48) | (1.08) | (1.56) | — | (1.09) | $15.32 | 2.92 % | $ 1,650 | 0.32 % | 0.61 % | 0.26 % | 361 % | |
10/1/19 to 9/30/20 | 16.00 | 0.40 | — | 1.00 | 1.40 | (0.42) | (0.57) | (0.99) | — | 0.41 | 16.41 | 9.25 | 39 | 0.30 | 0.74 | 2.49 | 552 | |
10/1/18 to 9/30/19 | 14.92 | 0.47 | — | 1.06 | 1.53 | (0.45) | — | (0.45) | — | 1.08 | 16.00 | 10.47 | 11 | 0.30 | 21.03 | 3.06 | 864 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.14 | — | (0.11) | 0.03 | (0.11) | — | (0.11) | — | (0.08) | 14.92 | 0.20 | 10 | 0.30 | 1.19 (11) | 2.86 (11) | 302 | |
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $16.41 | 0.30 | — | 0.17 | 0.47 | (0.47) | (1.08) | (1.55) | — | (1.08) | $15.33 | 2.90 % | $ 52,542 | 0.26 % (6) | 0.67 % | 1.93 % | 361 % | |
10/1/19 to 9/30/20 | 16.00 | 0.41 | — | 1.00 | 1.41 | (0.43) | (0.57) | (1.00) | — | 0.41 | 16.41 | 9.28 | 50,383 | 0.25 | 0.76 | 2.56 | 552 | |
10/1/18 to 9/30/19 | 14.92 | 0.48 | — | 1.07 | 1.55 | (0.47) | — | (0.47) | — | 1.08 | 16.00 | 10.56 | 59,419 | 0.25 | 0.94 | 3.11 | 864 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.15 | — | (0.12) | 0.03 | (0.11) | — | (0.11) | — | (0.08) | 14.92 | 0.22 | 40,075 | 0.25 | 1.19 (11) | 2.91 (11) | 302 | |
AllianzGI Emerging Markets Consumer Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $15.88 | 0.14 | — | 0.88 | 1.02 | (0.69) | — | (0.69) | — | 0.33 | $16.21 | 6.30 % | $ 92 | 1.39 % (12) | 2.28 % | 0.80 % | 65 % | |
10/1/19 to 9/30/20 | 13.51 | 0.12 | — | 2.35 | 2.47 | (0.10) | — | (0.10) | — | 2.37 | 15.88 | 18.34 | 63 | 1.40 | 1.81 | 0.86 | 57 | |
10/1/18 to 9/30/19 | 13.88 | 0.12 | — | (0.45) | (0.33) | (0.04) | — | (0.04) | — | (0.37) | 13.51 | (2.34) | 62 | 1.52 | 1.75 | 0.90 | 82 | |
10/1/17 to 9/30/18 | 15.76 | 0.11 | — | (1.11) | (1.00) | (0.26) | (0.62) | (0.88) | — | (1.88) | 13.88 | (7.04) | 69 | 1.55 | 1.78 | 0.68 | 115 | |
10/1/16 to 9/30/17 | 13.60 | 0.21 | — | 2.07 | 2.28 | (0.12) | — | (0.12) | — | 2.16 | 15.76 | 16.97 | 155 | 1.55 | 16.84 | 1.47 | 122 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $15.89 | 0.10 | — | 0.97 | 1.07 | (0.56) | — | (0.56) | — | 0.51 | $16.40 | 6.63 % | $ 3,733 | 1.05 % (12) | 1.94 % | 0.59 % | 65 % | |
10/1/19 to 9/30/20 | 13.51 | 0.16 | — | 2.37 | 2.53 | (0.15) | — | (0.15) | — | 2.38 | 15.89 | 18.84 | 35,448 | 1.05 | 1.51 | 1.12 | 57 | |
10/1/18 to 9/30/19 | 14.05 | 0.17 | — | (0.48) | (0.31) | (0.23) | — | (0.23) | — | (0.54) | 13.51 | (2.05) | 39,186 | 1.16 | 1.43 | 1.30 | 82 | |
10/1/17 to 9/30/18 | 15.86 | 0.21 | — | (1.17) | (0.96) | (0.23) | (0.62) | (0.85) | — | (1.81) | 14.05 | (6.69) | 43,333 | 1.20 | 1.37 | 1.36 | 115 | |
10/1/16 to 9/30/17 | 13.68 | 0.22 | — | 2.11 | 2.33 | (0.15) | — | (0.15) | — | 2.18 | 15.86 | 17.37 | 43,487 | 1.20 | 1.64 | 1.55 | 122 | |
AllianzGI Global Allocation Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $11.11 | 0.14 | 0.16 | 1.33 | 1.63 | (0.22) | (0.53) | (0.75) | — (8) | 0.88 | $11.99 | 15.16 % (13) | $ 49,743 | 0.56 % (9) | 1.22 % | 1.19 % | 168 % | |
10/1/19 to 9/30/20 | 11.05 | 0.13 | — | 0.94 | 1.07 | (0.12) | (0.89) | (1.01) | — | 0.06 | 11.11 | 10.21 | 46,506 | 0.52 | 1.14 | 1.18 | 141 | |
10/1/18 to 9/30/19 | 11.47 | 0.21 | — | 0.06 | 0.27 | (0.25) | (0.44) | (0.69) | — | (0.42) | 11.05 (14) | 3.05 (14) | 49,259 | 0.61 | 1.14 | 1.95 | 29 | |
10/1/17 to 9/30/18 | 12.34 | 0.26 | — | 0.07 | 0.33 | (0.55) | (0.65) | (1.20) | — | (0.87) | 11.47 | 2.62 | 40,974 | 0.59 | 1.12 | 2.24 | 17 | |
10/1/16 to 9/30/17 | 11.23 | 0.20 | — | 1.11 | 1.31 | (0.20) | — | (0.20) | — | 1.11 | 12.34 | 11.88 | 47,170 | 0.60 | 1.12 | 1.73 | 15 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $11.47 | 0.07 | 0.21 | 1.32 | 1.60 | (0.04) | (0.53) | (0.57) | — (8) | 1.03 | $12.50 | 14.29 % (13) | $ 2,558 | 1.31 % (9) | 1.94 % | 0.59 % | 168 % | |
10/1/19 to 9/30/20 | 11.37 | 0.06 | — | 0.95 | 1.01 | (0.02) | (0.89) | (0.91) | — | 0.10 | 11.47 | 9.28 | 3,549 | 1.27 | 1.83 | 0.55 | 141 | |
10/1/18 to 9/30/19 | 11.67 | 0.13 | — | 0.08 | 0.21 | (0.07) | (0.44) | (0.51) | — | (0.30) | 11.37 (14) | 2.29 (14) | 6,393 | 1.34 | 1.91 | 1.14 | 29 | |
10/1/17 to 9/30/18 | 12.47 | 0.19 | 0.06 | 0.06 | 0.25 | (0.40) | (0.65) | (1.05) | — | (0.80) | 11.67 | 1.90 | 26,220 | 1.33 | 1.86 | 1.56 | 17 | |
10/1/16 to 9/30/17 | 11.32 | 0.13 | — | 1.12 | 1.25 | (0.10) | — | (0.10) | — | 1.15 | 12.47 | 11.09 | 34,670 | 1.35 | 1.87 | 1.12 | 15 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Global Allocation Fund (Continued) | ||||||||||||||||||
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $10.96 | 0.16 | 0.16 | 1.30 | 1.62 | (0.26) | (0.53) | (0.79) | — (8) | 0.83 | $11.79 | 15.30 % (13) | $ 6,536 | 0.36 % (9) | 1.03 % | 1.38 % | 168 % | |
10/1/19 to 9/30/20 | 10.94 | 0.17 | — | 0.90 | 1.07 | (0.16) | (0.89) | (1.05) | — | 0.02 | 10.96 | 10.39 | 5,371 | 0.32 | 0.90 | 1.63 | 141 | |
10/1/18 to 9/30/19 | 11.38 | 0.18 | — | 0.12 | 0.30 | (0.30) | (0.44) | (0.74) | — | (0.44) | 10.94 (14) | 3.30 (14) | 6,173 | 0.37 | 0.91 | 1.68 | 29 | |
10/1/17 to 9/30/18 | 12.28 | 0.27 | — | 0.09 | 0.36 | (0.61) | (0.65) | (1.26) | — | (0.90) | 11.38 | 2.92 | 4,292 | 0.35 | 0.88 | 2.30 | 17 | |
10/1/16 to 9/30/17 | 11.24 | 0.24 | — | 1.11 | 1.35 | (0.31) | — | (0.31) | — | 1.04 | 12.28 | 12.31 | 3,563 | 0.32 | 0.85 | 2.05 | 15 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $11.05 | 0.17 | 0.16 | 1.32 | 1.65 | (0.28) | (0.53) | (0.81) | — (8) | 0.84 | $11.89 | 15.46 % (13) | $ 10,820 | 0.31 % (9) | 0.86 % | 1.43 % | 168 % | |
10/1/19 to 9/30/20 | 11.02 | 0.14 | — | 0.94 | 1.08 | (0.16) | (0.89) | (1.05) | — | 0.03 | 11.05 | 10.40 | 9,609 | 0.29 | 0.88 | 1.28 | 141 | |
10/1/18 to 9/30/19 | 11.45 | 0.24 | — | 0.06 | 0.30 | (0.29) | (0.44) | (0.73) | — | (0.43) | 11.02 (14) | 3.34 (14) | 6,026 | 0.36 | 0.89 | 2.25 | 29 | |
10/1/17 to 9/30/18 | 12.15 | 0.28 | — | 0.08 | 0.36 | (0.41) | (0.65) | (1.06) | — | (0.70) | 11.45 | 2.92 | 6,652 | 0.33 | 0.86 | 2.43 | 17 | |
10/1/16 to 9/30/17 | 11.11 | 0.26 | — | 1.05 | 1.31 | (0.27) | — | (0.27) | — | 1.04 | 12.15 | 12.08 | 6,871 | 0.40 | 0.95 | 2.35 | 15 | |
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $10.79 | 0.17 | 0.16 | 1.28 | 1.61 | (0.28) | (0.53) | (0.81) | — (8) | 0.80 | $11.59 | 15.46 % (13) | $ 216,700 | 0.26 % (9) | 0.91 % | 1.50 % | 168 % | |
10/1/19 to 9/30/20 | 10.78 | 0.16 | — | 0.92 | 1.08 | (0.18) | (0.89) | (1.07) | — | 0.01 | 10.79 | 10.57 | 191,750 | 0.22 | 0.83 | 1.52 | 141 | |
10/1/18 to 9/30/19 | 11.23 | 0.23 | — | 0.06 | 0.29 | (0.30) | (0.44) | (0.74) | — | (0.45) | 10.78 (14) | 3.34 (14) | 249,269 | 0.28 | 0.82 | 2.23 | 29 | |
10/1/17 to 9/30/18 | 12.13 | 0.29 | — | 0.07 | 0.36 | (0.61) | (0.65) | (1.26) | — | (0.90) | 11.23 | 2.95 | 252,313 | 0.28 | 0.81 | 2.48 | 17 | |
10/1/16 to 9/30/17 | 11.10 | 0.23 | — | 1.11 | 1.34 | (0.31) | — | (0.31) | — | 1.03 | 12.13 | 12.40 | 264,255 | 0.28 | 0.80 | 1.99 | 15 | |
Administrative Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $11.46 | 0.33 | 0.16 | 1.37 | 1.86 | (0.37) | (0.53) | (0.90) | — (8) | 0.96 | $12.42 | 16.73 % (13) | $ 42 | 0.47 % (9) | 2.34 % | 2.68 % | 168 % | |
10/1/19 to 9/30/20 | 11.38 | 0.13 | — | 0.98 | 1.11 | (0.14) | (0.89) | (1.03) | — | 0.08 | 11.46 | 10.24 | 27 | 0.47 | 1.08 | 1.17 | 141 | |
10/1/18 to 9/30/19 | 11.77 | 0.22 | — | 0.08 | 0.30 | (0.25) | (0.44) | (0.69) | —�� | (0.39) | 11.38 (14) | 3.17 (14) | 23 | 0.53 | 1.07 | 1.97 | 29 | |
10/1/17 to 9/30/18 | 12.64 | 0.28 | — | 0.07 | 0.35 | (0.57) | (0.65) | (1.22) | — | (0.87) | 11.77 | 2.68 | 22 | 0.53 | 1.06 | 2.28 | 17 | |
10/1/16 to 9/30/17 | 11.52 | 0.22 | — | 1.15 | 1.37 | (0.25) | — | (0.25) | — | 1.12 | 12.64 | 12.07 | 26 | 0.53 | 1.06 | 1.86 | 15 | |
AllianzGI Global Dynamic Allocation Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.74 | 0.19 | 0.96 | 2.86 | 4.01 | (1.74) | (3.55) | (5.29) | — (8) | (1.28) | $17.46 | 25.22 % (13) | $ 3,648 | 0.84 % (9) | 1.75 % | 1.06 % | 206 % | |
10/1/19 to 9/30/20 | 19.21 | 0.21 | — | 1.34 | 1.55 | (0.72) | (1.30) | (2.02) | — | (0.47) | 18.74 | 8.20 | 1,491 | 0.82 | 1.62 | 1.17 | 221 | |
10/1/18 to 9/30/19 | 20.19 | 0.34 | — | (0.48) | (0.14) | (0.36) | (0.48) | (0.84) | — | (0.98) | 19.21 | (0.25) | 1,812 | 0.97 | 1.32 | 1.78 | 222 | |
10/1/17 to 9/30/18 | 20.52 | 0.28 | — | 0.32 | 0.60 | (0.21) | (0.72) | (0.93) | — | (0.33) | 20.19 | 2.93 | 2,015 | 0.97 | 1.25 | 1.37 | 152 | |
10/1/16 to 9/30/17 | 18.32 | 0.20 | — | 2.00 | 2.20 | — | — | — | — | 2.20 | 20.52 | 12.01 | 2,421 | 1.02 | 1.35 | 1.05 | 192 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.32 | 0.05 | 1.22 | 2.52 | 3.79 | (1.56) | (3.55) | (5.11) | — (8) | (1.32) | $17.00 | 24.29 % (13) | $ 944 | 1.61 % (9) | 2.52 % | 0.31 % | 206 % | |
10/1/19 to 9/30/20 | 18.84 | 0.07 | — | 1.30 | 1.37 | (0.59) | (1.30) | (1.89) | — | (0.52) | 18.32 | 7.37 | 525 | 1.58 | 2.38 | 0.40 | 221 | |
10/1/18 to 9/30/19 | 19.56 | 0.19 | — | (0.43) | (0.24) | — | (0.48) | (0.48) | — | (0.72) | 18.84 | (1.00) | 588 | 1.74 | 2.08 | 1.00 | 222 | |
10/1/17 to 9/30/18 | 20.05 | 0.12 | — | 0.31 | 0.43 | (0.20) | (0.72) | (0.92) | — | (0.49) | 19.56 | 2.09 | 1,195 | 1.74 | 2.01 | 0.61 | 152 | |
10/1/16 to 9/30/17 | 18.05 | 0.08 | — | 1.92 | 2.00 | — | — | — | — | 2.00 | 20.05 | 11.08 | 1,325 | 1.77 | 2.08 | 0.42 | 192 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Global Dynamic Allocation Fund (Continued) | ||||||||||||||||||
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $19.61 | 0.19 | 0.08 | 3.93 | 4.20 | (2.18) | (3.55) | (5.73) | — (8) | (1.53) | $18.08 | 25.45 % (13) | $ 16,310 | 0.66 % (9) | 1.52 % | 1.01 % | 206 % | |
10/1/19 to 9/30/20 | 19.09 | 0.21 | — | 1.61 | 1.82 | — | (1.30) | (1.30) | — | 0.52 | 19.61 | 9.73 | 59 | 0.68 | 1.19 | 1.05 | 221 | |
10/1/18 to 9/30/19 | 20.07 | 0.36 | — | (0.46) | (0.10) | (0.40) | (0.48) | (0.88) | — | (0.98) | 19.09 | (0.05) | 11,456 | 0.80 | 1.12 | 1.95 | 222 | |
10/1/17 to 9/30/18 | 20.48 | 0.32 | — | 0.31 | 0.63 | (0.32) | (0.72) | (1.04) | — | (0.41) | 20.07 | 3.08 | 13,436 | 0.80 | 1.03 | 1.58 | 152 | |
10/1/16 to 9/30/17 | 18.36 | 0.28 | — | 1.94 | 2.22 | (0.10) | — | (0.10) | — | 2.12 | 20.48 | 12.18 | 12,730 | 0.82 | 1.11 | 1.44 | 192 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $19.05 | 0.25 | 1.51 | 2.37 | 4.13 | (1.78) | (3.55) | (5.33) | — (8) | (1.20) | $17.85 | 25.59 % (13) | $ 13,464 | 0.58 % (9) | 1.56 % | 1.39 % | 206 % | |
10/1/19 to 9/30/20 | 19.50 | 0.26 | — | 1.37 | 1.63 | (0.78) | (1.30) | (2.08) | — | (0.45) | 19.05 | 8.52 | 12,294 | 0.54 | 1.40 | 1.42 | 221 | |
10/1/18 to 9/30/19 | 20.22 | 0.39 | — | (0.45) | (0.06) | (0.18) | (0.48) | (0.66) | — | (0.72) | 19.50 | 0.03 | 9,330 | 0.70 | 1.12 | 2.05 | 222 | |
10/1/17 to 9/30/18 | 20.61 | 0.34 | — | 0.32 | 0.66 | (0.33) | (0.72) | (1.05) | — | (0.39) | 20.22 | 3.18 | 13,225 | 0.70 | 0.94 | 1.65 | 152 | |
10/1/16 to 9/30/17 | 18.37 | 0.27 | — | 1.98 | 2.25 | (0.01) | — | (0.01) | — | 2.24 | 20.61 | 12.27 | 31,783 | 0.75 | 1.03 | 1.42 | 192 | |
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.75 | 0.25 | 1.50 | 2.33 | 4.08 | (1.63) | (3.55) | (5.18) | — (8) | (1.10) | $17.65 | 25.61 % (13) | $ 22,314 | 0.58 % (6)(9) | 1.48 % | 1.40 % | 206 % | |
10/1/19 to 9/30/20 | 19.18 | 0.27 | — | 1.33 | 1.60 | (0.73) | (1.30) | (2.03) | — | (0.43) | 18.75 | 8.54 | 30,996 | 0.54 | 1.28 | 1.45 | 221 | |
10/1/18 to 9/30/19 | 20.15 | 0.39 | — | (0.48) | (0.09) | (0.40) | (0.48) | (0.88) | — | (0.97) | 19.18 | (0.01) | 127,285 | 0.70 | 1.01 | 2.08 | 222 | |
10/1/17 to 9/30/18 | 20.56 | 0.34 | — | 0.32 | 0.66 | (0.35) | (0.72) | (1.07) | — | (0.41) | 20.15 | 3.19 | 192,375 | 0.70 | 0.91 | 1.67 | 152 | |
10/1/16 to 9/30/17 | 18.38 | 0.28 | — | 1.99 | 2.27 | (0.09) | — | (0.09) | — | 2.18 | 20.56 | 12.39 | 231,584 | 0.70 | 0.99 | 1.49 | 192 | |
Administrative Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.67 | 0.20 | 1.37 | 2.43 | 4.00 | (1.74) | (3.55) | (5.29) | — (8) | (1.29) | $17.38 | 25.27 % (13) | $ 31 | 0.82 % (9) | 1.71 % | 1.13 % | 206 % | |
10/1/19 to 9/30/20 | 19.16 | 0.21 | — | 1.34 | 1.55 | (0.74) | (1.30) | (2.04) | — | (0.49) | 18.67 | 8.24 | 25 | 0.79 | 1.57 | 1.18 | 221 | |
10/1/18 to 9/30/19 | 20.15 | 0.34 | — | (0.48) | (0.14) | (0.37) | (0.48) | (0.85) | — | (0.99) | 19.16 | (0.26) | 23 | 0.95 | 1.27 | 1.80 | 222 | |
10/1/17 to 9/30/18 | 20.55 | 0.29 | — | 0.32 | 0.61 | (0.29) | (0.72) | (1.01) | — | (0.40) | 20.15 | 2.93 | 23 | 0.96 | 1.17 | 1.42 | 152 | |
10/1/16 to 9/30/17 | 18.35 | 0.23 | — | 1.97 | 2.20 | — | — | — | — | 2.20 | 20.55 | 11.99 | 23 | 1.00 | 1.25 | 1.18 | 192 | |
AllianzGI Global Sustainability Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $21.06 | 0.13 | — | 4.97 | 5.10 | (0.16) | (0.50) | (0.66) | — | 4.44 | $25.50 | 24.61 % | $ 5,305 | 0.94 % | 1.37 % | 0.54 % | 30 % | |
10/1/19 to 9/30/20 | 18.27 | 0.11 | — | 3.03 | 3.14 | (0.02) | (0.33) | (0.35) | — | 2.79 | 21.06 | 17.35 | 2,350 | 0.98 | 1.44 | 0.58 | 31 | |
10/1/18 to 9/30/19 | 19.46 | 0.14 | — | 0.04 | 0.18 | (0.30) | (1.07) | (1.37) | — | (1.19) | 18.27 | 2.43 | 1,444 | 1.09 | 1.84 | 0.77 | 49 | |
10/1/17 to 9/30/18 | 17.96 | 0.17 | — | 1.98 | 2.15 | (0.21) | (0.44) | (0.65) | — | 1.50 | 19.46 | 12.23 | 614 | 1.09 | 1.70 | 0.92 | 20 | |
10/1/16 to 9/30/17 | 15.80 | 0.13 | — | 2.20 | 2.33 | (0.14) | (0.03) | (0.17) | — | 2.16 | 17.96 | 14.94 | 402 | 1.12 | 7.55 | 0.79 | 27 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $21.22 | 0.10 | — | 5.07 | 5.17 | (0.17) | (0.50) | (0.67) | — | 4.50 | $25.72 | 24.78 % | $ 5,336 | 0.79 % | 1.17 % | 0.44 % | 30 % | |
10/1/19 to 9/30/20 | 18.39 | 0.14 | — | 3.05 | 3.19 | (0.03) | (0.33) | (0.36) | — | 2.83 | 21.22 | 17.52 | 28,372 | 0.84 | 1.13 | 0.74 | 31 | |
10/1/18 to 9/30/19 | 19.68 | 0.21 | — | (0.02) | 0.19 | (0.41) | (1.07) | (1.48) | — | (1.29) | 18.39 | 2.56 | 21,582 | 0.94 | 1.65 | 1.17 | 49 | |
10/1/17 to 9/30/18 | 18.13 | 0.16 | — | 2.05 | 2.21 | (0.22) | (0.44) | (0.66) | — | 1.55 | 19.68 | 12.44 | 11,362 | 0.94 | 1.25 | 0.84 | 20 | |
10/1/16 to 9/30/17 | 15.91 | 0.15 | — | 2.23 | 2.38 | (0.13) | (0.03) | (0.16) | — | 2.22 | 18.13 | 15.13 | 64 | 0.96 | 1.62 | 0.88 | 27 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Global Sustainability Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $21.64 | 0.18 | — | 5.13 | 5.31 | (0.17) | (0.50) | (0.67) | — | 4.64 | $26.28 | 24.95 % | $ 114,884 | 0.69 % | 1.09 % | 0.72 % | 30 % | |
10/1/19 to 9/30/20 | 18.75 | 0.17 | — | 3.10 | 3.27 | (0.05) | (0.33) | (0.38) | — | 2.89 | 21.64 | 17.59 | 132,073 | 0.74 | 1.03 | 0.88 | 31 | |
10/1/18 to 9/30/19 | 19.72 | 0.19 | — | 0.06 | 0.25 | (0.15) | (1.07) | (1.22) | — | (0.97) | 18.75 | 2.63 | 2,072 | 0.84 | 1.66 | 1.05 | 49 | |
10/1/17 to 9/30/18 | 18.13 | 0.22 | — | 2.00 | 2.22 | (0.19) | (0.44) | (0.63) | — | 1.59 | 19.72 | 12.52 | 28,237 | 0.84 | 1.43 | 1.18 | 20 | |
10/1/16 to 9/30/17 | 15.92 | 0.19 | — | 2.20 | 2.39 | (0.15) | (0.03) | (0.18) | — | 2.21 | 18.13 | 15.25 | 26,615 | 0.89 | 1.63 | 1.16 | 27 | |
AllianzGI High Yield Bond Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $ 8.39 | 0.43 | — | 0.58 | 1.01 | (0.43) | — | (0.43) | — | 0.58 | $ 8.97 | 12.20 % | $ 20,763 | 1.13 % (6) | 1.14 % | 4.93 % | 153 % | |
10/1/19 to 9/30/20 | 8.91 | 0.42 | — | (0.50) | (0.08) | (0.44) | — | (0.44) | — | (0.52) | 8.39 | (0.82) | 20,251 | 1.12 | 1.12 | 4.96 | 143 | |
10/1/18 to 9/30/19 | 8.91 | 0.43 | — | 0.01 | 0.44 | (0.44) | — | (0.44) | — | — | 8.91 | 5.18 | 26,937 | 1.07 | 1.07 | 4.98 | 70 | |
10/1/17 to 9/30/18 | 9.31 | 0.45 | — | (0.39) | 0.06 | (0.46) | — | (0.46) | — | (0.40) | 8.91 | 0.67 | 33,768 | 1.05 | 1.05 | 4.93 | 40 | |
10/1/16 to 9/30/17 | 9.14 | 0.48 | — | 0.18 | 0.66 | (0.49) | — | (0.49) | — | 0.17 | 9.31 | 7.42 | 58,525 | 1.09 | 1.09 | 5.19 | 37 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $ 8.38 | 0.37 | — | 0.56 | 0.93 | (0.36) | — | (0.36) | — | 0.57 | $ 8.95 | 11.32 % | $ 2,255 | 1.86 % (6) | 1.89 % | 4.21 % | 153 % | |
10/1/19 to 9/30/20 | 8.89 | 0.36 | — | (0.49) | (0.13) | (0.38) | — | (0.38) | — | (0.51) | 8.38 | (1.41) | 3,880 | 1.81 | 1.81 | 4.26 | 143 | |
10/1/18 to 9/30/19 | 8.90 | 0.37 | — | — | 0.37 | (0.38) | — | (0.38) | — | (0.01) | 8.89 | 4.33 | 4,880 | 1.76 | 1.76 | 4.28 | 70 | |
10/1/17 to 9/30/18 | 9.30 | 0.39 | — | (0.39) | — | (0.40) | — | (0.40) | — | (0.40) | 8.90 | 0.02 | 8,544 | 1.71 | 1.71 | 4.27 | 40 | |
10/1/16 to 9/30/17 | 9.12 | 0.42 | — | 0.20 | 0.62 | (0.44) | — | (0.44) | — | 0.18 | 9.30 | 6.90 | 11,723 | 1.70 | 1.70 | 4.59 | 37 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $ 8.01 | 0.44 | — | 0.54 | 0.98 | (0.45) | — | (0.45) | — | 0.53 | $ 8.54 | 12.47 % | $ 4,196 | 0.85 % | 0.95 % | 5.20 % | 153 % | |
10/1/19 to 9/30/20 | 8.53 | 0.43 | — | (0.48) | (0.05) | (0.47) | — | (0.47) | — | (0.52) | 8.01 | (0.46) | 10,113 | 0.80 | 0.80 | 5.28 | 143 | |
10/1/18 to 9/30/19 | 8.55 | 0.44 | — | 0.01 | 0.45 | (0.47) | — | (0.47) | — | (0.02) | 8.53 | 5.56 | 12,128 | 0.73 | 0.73 | 5.31 | 70 | |
10/1/17 to 9/30/18 | 8.96 | 0.46 | — | (0.38) | 0.08 | (0.49) | — | (0.49) | — | (0.41) | 8.55 | 0.94 | 17,535 | 0.70 | 0.70 | 5.26 | 40 | |
10/1/16 to 9/30/17 | 8.80 | 0.50 | — | 0.19 | 0.69 | (0.53) | — | (0.53) | — | 0.16 | 8.96 | 8.07 | 35,931 | 0.67 | 0.67 | 5.62 | 37 | |
Institutional | ||||||||||||||||||
10/1/20 to 9/30/21 | $ 8.04 | 0.44 | — | 0.54 | 0.98 | (0.45) | — | (0.45) | — | 0.53 | $ 8.57 | 12.43 % | $ 42,666 | 0.87 % | 0.88 % | 5.19 % | 153 % | |
10/1/19 to 9/30/20 | 8.56 | 0.43 | — | (0.48) | (0.05) | (0.47) | — | (0.47) | — | (0.52) | 8.04 | (0.50) | 51,920 | 0.83 | 0.83 | 5.22 | 143 | |
10/1/18 to 9/30/19 | 8.58 | 0.44 | — | 0.01 | 0.45 | (0.47) | — | (0.47) | — | (0.02) | 8.56 | 5.48 | 77,365 | 0.79 | 0.79 | 5.25 | 70 | |
10/1/17 to 9/30/18 | 8.98 | 0.46 | — | (0.37) | 0.09 | (0.49) | — | (0.49) | — | (0.400) | 8.58 | 1.03 | 122,078 | 0.73 | 0.73 | 5.26 | 40 | |
10/1/16 to 9/30/17 | 8.83 | 0.50 | — | 0.18 | 0.68 | (0.53) | — | (0.53) | — | 0.15 | 8.98 | 7.91 | 155,022 | 0.69 | 0.69 | 5.61 | 37 | |
Administrative Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $ 8.02 | 0.74 | — | 0.40 | 1.14 | (0.64) | — | (0.64) | — | 0.50 | $ 8.52 | 14.60 % | $ 111 | 1.00 % | 2.16 % | 8.73 % | 153 % | |
10/1/19 to 9/30/20 | 8.54 | 0.42 | — | (0.48) | (0.06) | (0.46) | — | (0.46) | — | (0.52) | 8.02 | (0.63) | 26 | 1.00 | 1.00 | 5.14 | 143 | |
10/1/18 to 9/30/19 | 8.44 | 0.43 | — | 0.03 | 0.46 | (0.36) | — | (0.36) | — | 0.10 | 8.54 | 5.60 | 24 | 0.94 | 0.94 | 5.10 | 70 | |
10/1/17 to 9/30/18 | 8.84 | 0.44 | — | (0.37) | 0.07 | (0.47) | — | (0.47) | — | (0.40) | 8.44 | 0.83 | 20 | 0.88 | 0.88 | 4.93 | 40 | |
10/1/16 to 9/30/17 | 8.70 | 0.48 | — | 0.17 | 0.65 | (0.51) | — | (0.51) | — | 0.14 | 8.84 | 7.75 | 1,490 | 0.86 | 0.86 | 5.45 | 37 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI International Small-Cap Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $34.36 | 0.22 | — | 7.76 | 7.98 | (0.30) | (0.13) | (0.43) | — | 7.55 | $41.91 | 23.32 % | $ 4,853 | 1.25 % | 1.77 % | 0.54 % | 51 % | |
10/1/19 to 9/30/20 | 32.15 | 0.15 | — | 2.54 | 2.69 | (0.48) | — | (0.48) | — | 2.21 | 34.36 | 8.37 | 3,619 | 1.25 | 1.75 | 0.47 | 60 | |
10/1/18 to 9/30/19 | 43.09 | 0.34 | — | (6.28) | (5.94) | (0.10) | (4.90) | (5.00) | — | (10.94) | 32.15 | (12.05) | 4,826 | 1.25 | 1.94 | 1.05 | 55 | |
10/1/17 to 9/30/18 | 41.19 | 0.42 | — | 2.41 | 2.83 | (0.25) | (0.68) | (0.93) | — | 1.90 | 43.09 | 6.88 | 9,108 | 1.25 | 1.50 | 0.95 | 62 | |
10/1/16 to 9/30/17 | 34.57 | — | — | 6.93 | 6.93 | (0.31) | — | (0.31) | — | 6.62 | 41.19 (14) | 20.34 (14) | 6,068 | 1.36 | 1.93 | 0.01 | 67 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $33.00 | (0.24) | — | 7.60 | 7.36 | (0.11) | (0.13) | (0.24) | — | 7.12 | $40.12 | 22.36 % | $ 373 | 2.00 % | 2.47 % | (0.62) % | 51 % | |
10/1/19 to 9/30/20 | 30.72 | (0.08) | — | 2.40 | 2.32 | (0.04) | — | (0.04) | — | 2.28 | 33.00 | 7.56 | 722 | 2.00 | 2.49 | (0.27) | 60 | |
10/1/18 to 9/30/19 | 41.63 | 0.05 | — | (6.06) | (6.01) | — | (4.90) | (4.90) | — | (10.91) | 30.72 | (12.75) | 963 | 2.04 | 2.59 | 0.16 | 55 | |
10/1/17 to 9/30/18 | 40.01 | (0.15) | — | 2.55 | 2.40 | (0.10) | (0.68) | (0.78) | — | 1.62 | 41.63 | 5.99 | 2,610 | 2.08 | 2.27 | (0.35) | 62 | |
10/1/16 to 9/30/17 | 33.78 | (0.19) | — | 6.67 | 6.48 | (0.25) | — | (0.25) | — | 6.23 | 40.01 (14) | 19.39 (14) | 2,829 | 2.14 | 2.50 | (0.56) | 67 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $34.20 | 0.27 | — | 7.72 | 7.99 | (0.29) | (0.13) | (0.42) | — | 7.57 | $41.77 | 23.45 % | $ 10,911 | 1.10 % | 1.53 % | 0.65 % | 51 % | |
10/1/19 to 9/30/20 | 31.91 | 0.17 | — | 2.56 | 2.73 | (0.44) | — | (0.44) | — | 2.29 | 34.20 | 8.55 | 10,751 | 1.10 | 1.49 | 0.53 | 60 | |
10/1/18 to 9/30/19 | 43.06 | 0.33 | — | (6.25) | (5.92) | (0.33) | (4.90) | (5.23) | — | (11.15) | 31.91 | (11.92) | 19,740 | 1.10 | 1.58 | 1.01 | 55 | |
10/1/17 to 9/30/18 | 41.33 | 0.22 | — | 2.68 | 2.90 | (0.49) | (0.68) | (1.17) | — | 1.73 | 43.06 | 7.02 | 48,830 | 1.10 | 1.29 | 0.51 | 62 | |
10/1/16 to 9/30/17 | 34.66 | 0.19 | — | 6.82 | 7.01 | (0.34) | — | (0.34) | — | 6.67 | 41.33 (14) | 20.55 (14) | 55,843 | 1.17 | 1.42 | 0.55 | 67 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $35.49 | 0.29 | — | 8.03 | 8.32 | (0.44) | (0.13) | (0.57) | — | 7.75 | $43.24 | 23.55 % | $ 29,125 | 1.04 % | 1.50 % | 0.69 % | 51 % | |
10/1/19 to 9/30/20 | 33.21 | 0.23 | — | 2.63 | 2.86 | (0.58) | — | (0.58) | — | 2.28 | 35.49 | 8.61 | 31,942 | 1.04 | 1.51 | 0.69 | 60 | |
10/1/18 to 9/30/19 | 44.65 | 0.47 | — | (6.58) | (6.11) | (0.43) | (4.90) | (5.33) | — | (11.44) | 33.21 | (11.88) | 40,477 | 1.04 | 1.61 | 1.39 | 55 | |
10/1/17 to 9/30/18 | 42.85 | 0.32 | — | 2.71 | 3.03 | (0.55) | (0.68) | (1.23) | — | 1.80 | 44.65 | 7.09 | 49,443 | 1.05 | 1.28 | 0.70 | 62 | |
10/1/16 to 9/30/17 | 35.91 | 0.36 | — | 6.92 | 7.28 | (0.34) | — | (0.34) | — | 6.94 | 42.85 (14) | 20.58 (14) | 67,921 | 1.11 | 1.43 | 0.94 | 67 | |
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $35.17 | 0.32 | — | 7.94 | 8.26 | (0.44) | (0.13) | (0.57) | — | 7.69 | $42.86 | 23.60 % | $ 31,785 | 1.00 % | 1.41 % | 0.77 % | 51 % | |
10/1/19 to 9/30/20 | 33.03 | 0.26 | — | 2.59 | 2.85 | (0.71) | — | (0.71) | — | 2.14 | 35.17 | 8.63 | 29,889 | 1.00 | 1.43 | 0.80 | 60 | |
10/1/18 to 9/30/19 | 44.64 | 0.48 | — | (6.59) | (6.11) | (0.60) | (4.90) | (5.50) | — | (11.61) | 33.03 | (11.82) | 28,630 | 1.00 | 1.49 | 1.44 | 55 | |
10/1/17 to 9/30/18 | 42.90 | 0.40 | — | 2.66 | 3.06 | (0.64) | (0.68) | (1.32) | — | 1.74 | 44.64 | 7.14 | 33,876 | 1.00 | 1.22 | 0.87 | 62 | |
10/1/16 to 9/30/17 | 35.94 | 0.22 | — | 7.09 | 7.31 | (0.35) | — | (0.35) | — | 6.96 | 42.90 (14) | 20.66 (14) | 17,804 | 1.05 | 1.42 | 0.60 | 67 | |
AllianzGI Preferred Securities and Income Fund | ||||||||||||||||||
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $14.73 | 0.68 | — | 1.80 | 2.48 | (0.77) | (0.09) | (0.86) | — (8) | 1.62 | $16.35 | 17.18 % (13) | $ 13 | 0.60 % | 1.08 % | 4.29 % | 132 % | |
10/1/19 to 9/30/20 | 15.65 | 0.63 | — | (0.48) | 0.15 | (0.68) | (0.39) | (1.07) | — | (0.92) | 14.73 | 1.01 | 11 | 0.60 | 1.36 | 4.27 | 166 | |
10/1/18 to 9/30/19 | 15.06 | 0.68 | — | 0.64 | 1.32 | (0.71) | (0.02) | (0.73) | — | 0.59 | 15.65 | 9.14 | 11 | 0.60 | 2.04 | 4.55 | 98 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.23 | — | 0.03 | 0.26 | (0.20) | — | (0.20) | — | 0.06 | 15.06 | 1.74 | 10 | 0.60 (11) | 3.21 (11) | 4.62 (11) | 39 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Preferred Securities and Income Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $14.74 | 0.69 | — | 1.79 | 2.48 | (0.77) | (0.09) | (0.86) | — (8) | 1.62 | $16.36 | 17.13 % (13) | $ 6,904 | 0.55 % | 1.21 % | 4.36 % | 132 % | |
10/1/19 to 9/30/20 | 15.65 | 0.66 | — | (0.50) | 0.16 | (0.68) | (0.39) | (1.07) | — | (0.91) | 14.74 | 1.13 | 7,662 | 0.55 | 1.34 | 4.52 | 166 | |
10/1/18 to 9/30/19 | 15.06 | 0.69 | — | 0.64 | 1.33 | (0.72) | (0.02) | (0.74) | — | 0.59 | 15.65 | 9.21 | 3,035 | 0.55 | 2.09 | 4.62 | 98 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.26 | — | — | 0.26 | (0.20) | — | (0.20) | — | 0.06 | 15.06 | 1.76 | 1,548 | 0.56 (11) | 4.22 (11) | 5.28 (11) | 39 | |
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $14.73 | 0.70 | — | 1.80 | 2.50 | (0.78) | (0.09) | (0.87) | — (8) | 1.63 | $16.36 | 17.32 % (13) | $ 16,296 | 0.50 % | 1.08 % | 4.39 % | 132 % | |
10/1/19 to 9/30/20 | 15.65 | 0.65 | — | (0.49) | 0.16 | (0.69) | (0.39) | (1.08) | — | (0.92) | 14.73 | 1.10 | 17,839 | 0.50 | 1.35 | 4.41 | 166 | |
10/1/18 to 9/30/19 | 15.06 | 0.70 | — | 0.64 | 1.34 | (0.73) | (0.02) | (0.75) | — | 0.59 | 15.65 | 9.26 | 14,646 | 0.50 | 2.00 | 4.66 | 98 | |
5/30/18 (10) to 9/30/18 | 15.00 | 0.24 | — | 0.03 | 0.27 | (0.21) | — | (0.21) | — | 0.06 | 15.06 | 1.78 | 10,157 | 0.50 (11) | 3.22 (11) | 4.71 (11) | 39 | |
AllianzGI Short Duration High Income Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $13.99 | 0.62 | — | 0.84 | 1.46 | (0.86) | — | (0.86) | — | 0.60 | $14.59 | 10.65 % | $ 145,424 | 0.86 % | 0.93 % | 4.24 % | 69 % | |
10/1/19 to 9/30/20 | 14.62 | 0.58 | — | (0.54) | 0.04 | (0.67) | — | (0.67) | — | (0.63) | 13.99 | 0.37 | 136,690 | 0.86 | 0.87 | 4.13 | 81 | |
10/1/18 to 9/30/19 | 14.93 | 0.51 | — | (0.11) | 0.40 | (0.71) | — | (0.71) | — | (0.31) | 14.62 | 2.85 | 136,086 | 0.88 | 0.88 | 3.52 | 47 | |
10/1/17 to 9/30/18 | 15.18 | 0.59 | — | (0.16) | 0.43 | (0.68) | — | (0.68) | — | (0.25) | 14.93 | 2.95 | 150,899 | 0.89 | 0.89 | 3.92 | 60 | |
10/1/16 to 9/30/17 | 15.29 | 0.60 | — | 0.04 | 0.64 | (0.75) | — | (0.75) | — | (0.11) | 15.18 | 4.27 | 218,312 | 0.89 | 0.89 | 3.94 | 88 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $13.98 | 0.58 | — | 0.84 | 1.42 | (0.77) | — | (0.77) | — | 0.65 | $14.63 | 10.34 % | $ 77,032 | 1.11 % | 1.20 % | 4.00 % | 69 % | |
10/1/19 to 9/30/20 | 14.61 | 0.54 | — | (0.54) | — | (0.63) | — | (0.63) | — | (0.63) | 13.98 | 0.12 | 90,863 | 1.12 | 1.13 | 3.86 | 81 | |
10/1/18 to 9/30/19 | 14.90 | 0.47 | — | (0.10) | 0.37 | (0.66) | — | (0.66) | — | (0.29) | 14.61 | 2.58 | 117,058 | 1.14 | 1.14 | 3.25 | 47 | |
10/1/17 to 9/30/18 | 15.15 | 0.55 | — | (0.15) | 0.40 | (0.65) | — | (0.65) | — | (0.25) | 14.90 | 2.74 | 135,483 | 1.11 | 1.11 | 3.70 | 60 | |
10/1/16 to 9/30/17 | 15.27 | 0.56 | — | 0.03 | 0.59 | (0.71) | — | (0.71) | — | (0.12) | 15.15 | 4.00 | 148,587 | 1.12 | 1.12 | 3.70 | 88 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $13.90 | 0.65 | — | 0.83 | 1.48 | (0.86) | — | (0.86) | — | 0.62 | $14.52 | 10.81 % | $ 247,819 | 0.65 % | 0.76 % | 4.45 % | 69 % | |
10/1/19 to 9/30/20 | 14.51 | 0.59 | — | (0.51) | 0.08 | (0.69) | — | (0.69) | — | (0.61) | 13.90 | 0.69 | 264,908 | 0.63 | 0.67 | 4.16 | 81 | |
10/1/18 to 9/30/19 | 14.88 | 0.53 | — | (0.10) | 0.43 | (0.80) | — | (0.80) | — | (0.37) | 14.51 | 3.05 | 501,138 | 0.65 | 0.65 | 3.70 | 47 | |
10/1/17 to 9/30/18 | 15.13 | 0.62 | — | (0.15) | 0.47 | (0.72) | — | (0.72) | — | (0.25) | 14.88 | 3.21 | 411,367 | 0.65 | 0.65 | 4.14 | 60 | |
10/1/16 to 9/30/17 | 15.24 | 0.63 | — | 0.05 | 0.68 | (0.79) | — | (0.79) | — | (0.11) | 15.13 | 4.56 | 700,376 | 0.63 | 0.63 | 4.19 | 88 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $13.89 | 0.65 | — | 0.84 | 1.49 | (0.91) | — | (0.91) | — | 0.58 | $14.47 | 10.91 % | $ 251,201 | 0.60 % | 0.70 % | 4.50 % | 69 % | |
10/1/19 to 9/30/20 | 14.52 | 0.61 | — | (0.54) | 0.07 | (0.70) | — | (0.70) | — | (0.63) | 13.89 | 0.63 | 285,572 | 0.61 | 0.64 | 4.35 | 81 | |
10/1/18 to 9/30/19 | 14.89 | 0.54 | — | (0.11) | 0.43 | (0.80) | — | (0.80) | — | (0.37) | 14.52 | 3.06 | 388,672 | 0.63 | 0.63 | 3.74 | 47 | |
10/1/17 to 9/30/18 | 15.14 | 0.63 | — | (0.15) | 0.48 | (0.73) | — | (0.73) | — | (0.25) | 14.89 | 3.26 | 388,443 | 0.60 | 0.60 | 4.20 | 60 | |
10/1/16 to 9/30/17 | 15.25 | 0.64 | — | 0.04 | 0.68 | (0.79) | — | (0.79) | — | (0.11) | 15.14 | 4.61 | 539,078 | 0.59 | 0.59 | 4.22 | 88 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
AllianzGI Short Duration High Income Fund (Continued) | ||||||||||||||||||
Class R6 | ||||||||||||||||||
10/1/20 to 9/30/21 | $13.89 | 0.66 | — | 0.83 | 1.49 | (0.90) | — | (0.90) | — | 0.59 | $14.48 | 10.95 % | $ 21,117 | 0.55 % | 0.63 % | 4.59 % | 69 % | |
10/1/19 to 9/30/20 | 14.52 | 0.62 | — | (0.54) | 0.08 | (0.71) | — | (0.71) | — | (0.63) | 13.89 | 0.70 | 33,741 | 0.55 | 0.56 | 4.49 | 81 | |
10/1/18 to 9/30/19 | 14.89 | 0.56 | — | (0.11) | 0.45 | (0.82) | — | (0.82) | — | (0.37) | 14.52 | 3.20 | 39,234 | 0.57 | 0.57 | 3.89 | 47 | |
10/1/17 to 9/30/18 | 15.14 | 0.64 | — | (0.16) | 0.48 | (0.73) | — | (0.73) | — | (0.25) | 14.89 | 3.29 | 52,922 | 0.55 | 0.55 | 4.27 | 60 | |
2/1/17 (10) to 9/30/17 | 15.18 | 0.42 | — | 0.03 | 0.45 | (0.49) | — | (0.49) | — | (0.04) | 15.14 | 3.04 | 70,595 | 0.56 | 0.56 | 4.25 | 88 | |
AllianzGI Water Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $17.63 | 0.26 | — | 4.87 | 5.13 | (0.04) | (0.27) | (0.31) | — | 4.82 | $22.45 | 29.41 % | $ 286,453 | 1.22 % | 1.45 % | 1.23 % | 32 % | |
10/1/19 to 9/30/20 | 16.31 | 0.06 | — | 1.77 | 1.83 | (0.11) | (0.40) | (0.51) | — | 1.32 | 17.63 | 11.35 | 200,384 | 1.22 | 1.40 | 0.37 | 28 | |
10/1/18 to 9/30/19 | 15.54 | 0.11 | — | 1.15 | 1.26 | (0.13) | (0.36) | (0.49) | — | 0.77 | 16.31 | 8.88 | 177,463 | 1.23 | 1.40 | 0.76 | 33 | |
10/1/17 to 9/30/18 | 15.49 | 0.13 | — | 0.34 | 0.47 | (0.04) | (0.38) | (0.42) | — | 0.05 | 15.54 | 3.05 | 172,374 | 1.19 | 1.41 | 0.84 | 34 | |
10/1/16 to 9/30/17 | 14.46 | 0.08 | — | 1.08 | 1.16 | (0.05) | (0.08) | (0.13) | — | 1.03 | 15.49 | 8.18 | 190,693 | 1.33 | 1.44 | 0.59 | 29 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $16.73 | 0.09 | — | 4.63 | 4.72 | — (8) | (0.27) | (0.27) | — | 4.45 | $21.18 | 28.48 % | $ 68,805 | 1.97 % | 2.20 % | 0.43 % | 32 % | |
10/1/19 to 9/30/20 | 15.52 | (0.06) | — | 1.67 | 1.61 | — | (0.40) | (0.40) | — | 1.21 | 16.73 | 10.48 | 57,901 | 1.97 | 2.16 | (0.38) | 28 | |
10/1/18 to 9/30/19 | 14.79 | — | — | 1.10 | 1.10 | (0.01) | (0.36) | (0.37) | — | 0.73 | 15.52 | 8.02 | 70,175 | 1.98 | 2.15 | 0.01 | 33 | |
10/1/17 to 9/30/18 | 14.82 | 0.01 | — | 0.34 | 0.35 | — | (0.38) | (0.38) | — | (0.03) | 14.79 | 2.35 | 83,156 | 1.94 | 2.16 | 0.07 | 34 | |
10/1/16 to 9/30/17 | 13.90 | (0.01) | — | 1.01 | 1.00 | — | (0.08) | (0.08) | — | 0.92 | 14.82 | 7.32 | 89,250 | 2.07 | 2.19 | (0.07) | 29 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $17.68 | 0.32 | — | 4.88 | 5.20 | (0.08) | (0.27) | (0.35) | — | 4.85 | $22.53 | 29.77 % | $ 339,111 | 0.94 % | 1.25 % | 1.51 % | 32 % | |
10/1/19 to 9/30/20 | 16.33 | 0.11 | — | 1.77 | 1.88 | (0.13) | (0.40) | (0.53) | — | 1.35 | 17.68 | 11.67 | 240,922 | 0.94 | 1.16 | 0.66 | 28 | |
10/1/18 to 9/30/19 | 15.59 | 0.15 | — | 1.14 | 1.29 | (0.19) | (0.36) | (0.55) | — | 0.74 | 16.33 | 9.14 | 210,425 | 0.95 | 1.17 | 1.03 | 33 | |
10/1/17 to 9/30/18 | 15.57 | 0.17 | — | 0.36 | 0.53 | (0.13) | (0.38) | (0.51) | — | 0.02 | 15.59 | 3.40 | 243,338 | 0.93 | 1.15 | 1.12 | 34 | |
10/1/16 to 9/30/17 | 14.54 | 0.15 | — | 1.04 | 1.19 | (0.08) | (0.08) | (0.16) | — | 1.03 | 15.57 | 8.40 | 210,746 | 1.04 | 1.16 | 1.02 | 29 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $17.33 | 0.33 | — | 4.77 | 5.10 | (0.10) | (0.27) | (0.37) | — | 4.73 | $22.06 | 29.76 % | $ 325,247 | 0.93 % | 1.21 % | 1.57 % | 32 % | |
10/1/19 to 9/30/20 | 16.03 | 0.11 | — | 1.74 | 1.85 | (0.15) | (0.40) | (0.55) | — | 1.30 | 17.33 | 11.71 | 204,320 | 0.93 | 1.13 | 0.68 | 28 | |
10/1/18 to 9/30/19 | 15.31 | 0.15 | — | 1.11 | 1.26 | (0.18) | (0.36) | (0.54) | — | 0.72 | 16.03 | 9.12 | 152,496 | 0.94 | 1.18 | 1.04 | 33 | |
10/1/17 to 9/30/18 | 15.32 | 0.17 | — | 0.34 | 0.51 | (0.14) | (0.38) | (0.52) | — | (0.01) | 15.31 | 3.36 | 164,322 | 0.92 | 1.14 | 1.13 | 34 | |
10/1/16 to 9/30/17 | 14.33 | 0.16 | — | 1.02 | 1.18 | (0.11) | (0.08) | (0.19) | — | 0.99 | 15.32 | 8.49 | 142,353 | 1.01 | 1.15 | 1.13 | 29 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Capital Gains Distributions Received from Underlying Funds(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(3) | ||
NFJ Emerging Markets Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.09 | 0.05 | — | 2.17 | 2.22 | (0.20) | — | (0.20) | — | 2.02 | $20.11 | 12.24 % | $ 15,565 | 1.14 % | 1.50 % | 0.26 % | 56 % | |
10/1/19 to 9/30/20 | 15.55 | 0.15 | — | 2.58 | 2.73 | (0.19) | — | (0.19) | — | 2.54 | 18.09 | 17.63 | 14,907 | 1.14 | 1.64 | 0.89 | 105 | |
10/1/18 to 9/30/19 | 16.18 | 0.42 | — | (0.68) | (0.26) | (0.37) | — | (0.37) | — | (0.63) | 15.55 | (1.68) | 14,395 | 1.15 | 1.65 | 2.69 | 101 | |
10/1/17 to 9/30/18 | 17.24 | 0.41 | — | (1.14) | (0.73) | (0.26) | (0.07) | (0.33) | — | (1.06) | 16.18 | 4.36 | 22,590 | 1.14 | 1.65 | 2.31 | 116 | |
10/1/16 to 9/30/17 | 14.31 | 0.40 | — | 2.85 | 3.25 | (0.32) | — | (0.32) | — | 2.93 | 17.24 (15) | 23.07 (14) | 11,026 | 1.22 | 3.32 | 2.58 | 120 | |
Class C | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.07 | (0.11) | — | 2.17 | 2.06 | (0.01) | — | (0.01) | — | 2.05 | $20.12 | 11.40 % | $ 914 | 1.89 % | 2.25 % | (0.51) % | 56 % | |
10/1/19 to 9/30/20 | 15.56 | 0.03 | — | 2.57 | 2.60 | (0.09) | — | (0.09) | — | 2.51 | 18.07 | 16.75 | 1,016 | 1.89 | 2.37 | 0.16 | 105 | |
10/1/18 to 9/30/19 | 16.23 | 0.35 | — | (0.73) | (0.38) | (0.29) | — | (0.29) | — | (0.67) | 15.56 | (2.38) | 1,006 | 1.90 | 2.40 | 2.24 | 101 | |
10/1/17 to 9/30/18 | 17.33 | 0.24 | — | (1.11) | (0.87) | (0.16) | (0.07) | (0.23) | — | (1.10) | 16.23 | (5.08) | 1,196 | 1.90 | 2.38 | 1.35 | 116 | |
10/1/16 to 9/30/17 | 14.29 | 0.34 | — | 2.81 | 3.15 | (0.11) | — | (0.11) | — | 3.04 | 17.33 (15) | 22.06 (14) | 527 | 1.95 | 4.00 | 2.16 | 120 | |
Class P | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.05 | 0.09 | — | 2.15 | 2.24 | (0.30) | — | (0.30) | — | 1.94 | $19.99 | 12.40 % | $ 10,449 | 0.99 % (9) | 1.47 % | 0.44 % | 56 % | |
10/1/19 to 9/30/20 | 15.53 | 0.22 | — | 2.53 | 2.75 | (0.23) | — | (0.23) | — | 2.52 | 18.05 | 17.85 | 7,192 | 0.99 | 1.27 | 1.33 | 105 | |
10/1/18 to 9/30/19 | 16.16 | 0.45 | — | (0.69) | (0.24) | (0.39) | — | (0.39) | — | (0.63) | 15.53 | (1.53) | 2,022 | 0.99 | 1.32 | 2.90 | 101 | |
10/1/17 to 9/30/18 | 17.13 | 0.36 | — | (1.08) | (0.72) | (0.18) | (0.07) | (0.25) | — | (0.97) | 16.16 | (4.30) | 3,312 | 0.98 | 1.48 | 2.03 | 116 | |
10/1/16 to 9/30/17 | 14.31 | 0.46 | — | 2.78 | 3.24 | (0.42) | — | (0.42) | — | 2.82 | 17.13 (15) | 23.22 (14) | 19,899 | 1.05 | 3.00 | 2.99 | 120 | |
Institutional Class | ||||||||||||||||||
10/1/20 to 9/30/21 | $18.01 | 0.11 | — | 2.15 | 2.26 | (0.29) | — | (0.29) | — | 1.97 | $19.98 | 12.50 % | $ 122,736 | 0.89 % | 1.27 % | 0.50 % | 56 % | |
10/1/19 to 9/30/20 | 15.48 | 0.19 | — | 2.57 | 2.76 | (0.23) | — | (0.23) | — | 2.53 | 18.01 | 17.95 | 115,817 | 0.89 | 1.34 | 1.18 | 105 | |
10/1/18 to 9/30/19 | 16.29 | 0.49 | — | (0.73) | (0.24) | (0.57) | — | (0.57) | — | (0.81) | 15.48 | (1.45) | 90,711 | 0.90 | 1.37 | 3.13 | 101 | |
10/1/17 to 9/30/18 | 17.49 | 0.42 | — | (1.11) | (0.69) | (0.44) | (0.07) | (0.51) | — | (1.20) | 16.29 | (4.12) | 111,161 | 0.90 | 1.39 | 2.41 | 116 | |
10/1/16 to 9/30/17 | 14.46 | 0.44 | — | 2.91 | 3.35 | (0.32) | — | (0.32) | — | 3.03 | 17.49 (15) | 23.33 (14) | 34,444 | 0.95 | 2.87 | 2.71 | 120 |
Footnote Legend: | |
(1) | Calculated using average shares outstanding. |
(2) | Sales charges, where applicable, are not reflected in the total return calculation. |
(3) | Not annualized for periods less than one year. |
(4) | Annualized for periods less than one year. |
(5) | The Funds will also indirectly bear their prorated share of expenses of any underlying funds in which they invest. Such expenses are not included in the calculation of this ratio. |
(6) | See Note 4D in Notes to Financial Statements for information on recapture of expenses previously reimbursed and/or waived. |
(7) | Portfolio turnover rate excludes securities received or delivered from in-kind fund share transactions. |
(8) | Amount is less than $0.005 per share. |
(9) | Due to a change in expense cap, the ratio shown is a blended expense ratio. |
(10) | Inception date. |
(11) | Certain expenses incurred by the Fund were not annualized. |
(12) | Net expense ratio includes extraordinary proxy expenses. |
(13) | Payment from affiliate had no impact on total return. |
(14) | Payments from Affiliates increased the end of period net asset value and total return by less than $0.01 and 0.01%, respectively. |
(15) | Payments from affiliates increased the end of year net asset value (“NAV”) and total return by $0.02 and 0.15%, respectively, for Class A, $0.02 and 0.14%, respectively, for Class C, $0.02 and 0.14%, respectively, for Class P and $0.01 and 0.07%, respectively for Institutional Class. If the Affiliates had not made these payments, the end of year NAV and total return would have been $17.22 and 22.92%, respectively, for Class A, $17.31 and 21.92%, respectively, for Class C, $17.11 and 23.08%, respectively, for Class P and $17.48 and 23.26%, respectively for Institutional Class. |
A. | Security Valuation |
Starting February 1, 2021, concurrent with the change in adviser to Virtus Investment Advisers, Inc. (the “Adviser”) (as detailed in Note 4A), the Funds adopted valuation policies and procedures used by the other Virtus-sponsored registered Funds. | |
Each Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Funds’ policy is to recognize transfers into or out of Level 3 at the end of the reporting period. |
B. | Security Transactions and Investment Income |
Security transactions are recorded on the trade date. Realized gains and losses from the sale of securities are determined on the identified cost basis. Dividend income is recognized on the ex-dividend date or, in the case of certain foreign securities, as soon as a Fund is notified. Interest income is recorded on the accrual basis. Each Fund amortizes premiums and accretes discounts using the effective interest method. Premiums on callable debt securities are amortized to interest income to the earliest call date using the effective interest method. Conversion premium is not amortized. Any distributions from underlying funds are recorded in accordance with the character of the distributions as designated by the underlying funds. | |
Dividend income from REITs is recorded using management’s estimate of the percentage of income included in distributions received from such investments based on historical information and other industry sources. The return of capital portion of the estimate is a reduction to investment income and a reduction in the cost basis of each investment which increases net realized gain (loss) and net change in unrealized appreciation (depreciation). If the return of capital distributions exceed their cost basis, the distributions are treated as realized gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts. | |
C. | Income Taxes |
Each Fund is treated as a separate taxable entity. It is the intention of each Fund to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) and to distribute substantially all of its taxable income to its shareholders. Therefore, no provision for federal income taxes or excise taxes has been made. | |
Certain Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Each Fund will accrue such taxes and recoveries as applicable based upon current interpretations of the tax rules and regulations that exist in the markets in which it invests. | |
Management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Each Fund’s U.S. federal income tax return is generally subject to examination by the Internal Revenue Service for a period of three years after it is filed. State, local and/or non-U.S. tax returns and/or other filings may be subject to examination for different periods, depending upon the tax rules of each applicable jurisdiction. | |
D. | Distributions to Shareholders |
Distributions are recorded by each Fund on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. GAAP. | |
E. | Expenses |
Expenses incurred together by a Fund and other affiliated mutual funds are allocated in proportion to the net assets of each such fund, except where allocation of direct expenses to each Fund or an alternative allocation method can be more appropriately used. | |
In addition to the net annual operating expenses that a Fund bears directly, the shareholders of a Fund indirectly bear the pro-rata expenses of any underlying mutual funds in which the Fund invests. | |
F. | Convertible Securities |
Certain Funds may invest a portion of their assets in convertible securities. Although convertible securities derive part of their value from that of the securities into which they are convertible, they are not considered derivative financial instruments. However, certain of the Funds’ investments in convertible securities include features which render them sensitive to price changes in their underlying securities. The value of structured/synthetic convertible securities can be affected by interest rate changes and credit risks of the issuer. Such securities may be structured in ways that limit their potential for capital appreciation, and the entire value of the security may be at risk of loss depending on the performance of the underlying equity security. Consequently, the Funds are exposed to greater downside risk than traditional convertible securities, but typically still less than that of the underlying stock. |
G. | Foreign Currency Transactions |
Non-U.S. investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the foreign currency exchange rate effective at the end of the reporting period. Cost of investments is translated at the currency exchange rate effective at the trade date. The gain or loss resulting from a change in currency exchange rates between the trade and settlement date of a portfolio transaction is treated as a gain or loss on foreign currency. Likewise, the gain or loss resulting from a change in currency exchange rates between the date income is accrued and the date it is paid is treated as a gain or loss on foreign currency. The Funds do not isolate that portion of the results of operations arising from changes in foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments. | |
H. | Payment In-Kind Securities |
Certain Funds may invest in payment in-kind securities, which are debt or preferred stock securities that require or permit payment of interest in the form of additional securities. Payment in-kind securities allow the issuer to avoid or delay the need to generate cash to meet current interest payments and, as a result, may involve greater risk than securities that pay interest currently or in cash. | |
I. | Securities Traded on a To-Be-Announced Basis |
Certain Funds may trade securities on a to-be-announced (“TBA”) basis. In a TBA transaction, a Fund commits to purchasing or selling securities which have not yet been issued by the issuer and for which specific information, such as the face amount, maturity date and underlying pool of investments in U.S. government agency mortgage pass-through securities, is not announced. Securities purchased on a TBA basis are not settled until they are delivered to the Fund. Beginning on the date a Fund enters into a TBA transaction, cash, U.S. government securities or other liquid high-grade debt obligations are segregated in an amount equal in value to the purchase price of the TBA security. These securities are subject to market fluctuations and their current value is determined in the same manner as for other securities. | |
J. | When-issued Purchases and Forward Commitments (Delayed Delivery) |
Certain Funds may engage in when-issued or forward commitment transactions. Securities purchased on a when-issued or forward commitment basis are also known as delayed delivery transactions. Delayed delivery transactions involve a commitment by a Fund to purchase or sell a security at a future date (ordinarily up to 90 days later). When-issued or forward commitments enable the Funds to lock in what is believed to be an attractive price or yield on a particular security for a period of time, regardless of future changes in interest rates. Each Fund records when-issued and forward commitment securities on the trade date. Each Fund maintains collateral for the securities purchased. Securities purchased on a when-issued or forward commitment basis begin earning interest on the settlement date. | |
K. | Leveraged Loans |
Certain Funds may invest in direct debt instruments which are interests in amounts owed by a corporate, governmental, or other borrower to lenders or lending syndicates. Leveraged loans are generally non-investment grade and often involve borrowers that are highly leveraged. The Funds may invest in obligations of borrowers who are in bankruptcy proceedings. Leveraged loans are typically senior in the corporate capital structure of the borrower. A loan is often administered by a bank or other financial institution (the “lender”) that acts as agent for all holders. The agent administers the terms of the loan, as specified in the leveraged loan. A Fund’s investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When investing in loan participations, a Fund has the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the loan participation and only upon receipt by the lender of payments from the borrower. A Fund generally has no right to enforce compliance with the terms of the leveraged loan with the borrower. As a result, a Fund may be subject to the credit risk of both the borrower and the lender that is selling the leveraged loan. When a Fund purchases assignments from lenders it acquires direct rights against the borrower on the loan. | |
A Fund may invest in multiple series or tranches of a loan, which may have varying terms and carry different associated risks. Leveraged loans may involve foreign borrowers and investments may be denominated in foreign currencies. Direct indebtedness of emerging countries involves a risk that the government entities responsible for the repayment of the debt may be unable, or unwilling, to pay the principal and interest when due. | |
The leveraged loans have floating rate loan interests which generally pay interest at rates that are periodically determined by reference to a base lending rate plus a premium. The base lending rates are generally LIBOR, the prime rate offered by one or more U.S. banks or the certificate of deposit rate. When a leveraged loan is purchased a Fund may pay an assignment fee. On an ongoing basis, a Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a leveraged loan. Prepayment penalty fees are received upon the prepayment of a leveraged loan by a borrower. Prepayment penalty, facility, commitment, consent and amendment fees are recorded to income as earned or paid. | |
L. | Repurchase Agreements |
Certain Funds are parties to Master Repurchase Agreements (“Master Repo Agreements”) with select counterparties. The Master Repo Agreements include provisions for initiation of repurchase transactions, income payments, events of default, and maintenance of collateral. |
The Funds enter into transactions, under the Master Repo Agreements, with their custodian bank or securities brokerage firms whereby they purchase securities under agreements (i.e., repurchase agreements) to resell such securities at an agreed upon price and date. The Funds, through their custodian, take possession of securities collateralizing the repurchase agreement. Such agreements are carried at the contract amount in the financial statements, which is considered to represent fair value. The collateral that is pledged (i.e. the securities received by the Funds), which consists primarily of U.S. government obligations and asset-backed securities, is held by the custodian bank for the benefit of the Funds until the maturity of the repurchase agreement. Provisions of the repurchase agreements and the procedures adopted by the Funds require that the market value of the collateral, including accrued interest thereon, be sufficient in the event of default by the counterparty. If the counterparty defaults under the Master Repo Agreements and the value of the collateral declines or if the counterparty enters an insolvency proceeding, realization of the collateral by the Funds may be delayed or limited. As of September 30, 2021, the Funds did not hold any repurchase agreements. | |
M. | Warrants |
The Funds may receive warrants. Warrants are securities that are usually issued together with a debt security or preferred stock and that give the holder the right to buy a proportionate amount of common stock at a specified price. Warrants may be freely transferable and are often traded on major exchanges. Warrants normally have a life that is measured in years and entitle the holder to buy common stock of a company at a price that is usually higher than the market price at the time the warrant is issued. Warrants may entail greater risks than certain other types of investments. Generally, warrants do not carry the right to receive dividends or exercise voting rights with respect to the underlying securities, and they do not represent any rights in the assets of the issuer. In addition, their value does not necessarily change with the value of the underlying securities, and they cease to have value if they are not exercised on or before their expiration date. If the market price of the underlying stock does not exceed the exercise price during the life of the warrant, the warrant will expire worthless. Warrants may increase the potential profit or loss to be realized from the investment as compared with investing the same amount in the underlying securities. Similarly, the percentage increase or decrease in the value of an equity security warrant may be greater than the percentage increase or decrease in the value of the underlying common stock. Warrants may relate to the purchase of equity or debt securities. Debt obligations with warrants attached to purchase equity securities have many characteristics of convertible securities and their prices may, to some degree, reflect the performance of the underlying stock. Debt obligations also may be issued with warrants attached to purchase additional debt securities at the same coupon rate. A decline in interest rates would permit a Fund to sell such warrants at a profit. If interest rates rise, these warrants would generally expire with no value. |
A. | Futures Contracts |
A futures contract is an agreement between two parties to purchase (long) or sell (short) a security at a set price for delivery on a future date. Upon entering into a futures contract, a Fund is required to pledge to the broker an amount of cash and/or securities equal to the “initial margin” requirements of the futures exchange on which the contract is traded. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as variation margin and are recorded by a Fund for financial statement purposes on a daily basis as unrealized appreciation or depreciation. When the contract expires or is closed, gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed is realized. This is presented in the Statement of Operations as net realized gain (loss) from future contracts. | |
During the year ended September 30, 2021, the AllianzGI Core Plus Bond Fund, AllianzGI Global Allocation Fund, AllianzGI Global Dynamic Allocation Fund and AllianzGI Preferred Securities and Income Fund utilized futures to optimize performance by gaining exposure to broad markets or to hedge the risk of securities within the portfolios. The potential risks of doing so are that 1) the use of futures may result in larger losses or smaller gains than the use of more traditional investments, 2) the prices of futures and the price movements of the securities that the future is intended to simulate may not correlate well, 3) the Fund’s success in using futures will be dependent upon the subadviser’s ability to correctly predict such price movements, 4) liquidity of futures can be adversely affected by market factors, and the prices of such securities may move in unexpected ways, and 5) if the Fund cannot close out a futures position, it may be compelled to continue to make daily cash payments to the broker to meet margin requirements, thus increasing transaction costs. Futures contracts outstanding at period end, if any, are listed after each Fund’s Schedule of Investments. | |
B. | Forward Foreign Currency Exchange Contracts |
A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a future date. Forward foreign currency exchange contracts, when used by a Fund, help to manage the overall exposure to the currencies in which some of the investments held by the Fund are denominated. The contract is marked-to-market daily and the change in market value is recorded by the Fund as an unrealized appreciation or depreciation. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The use of forward foreign currency exchange contracts involves the risk that the value of the contract changes unfavorably due to movements in the value of the referenced foreign currencies. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of foreign currency. |
During the year ended September 30, 2021, the AllianzGI Global Sustainability Fund, AllianzGI International Small-Cap Fund and AllianzGI Water Fund entered into forward foreign currency exchange contracts as an economic hedge against either specific transactions or portfolio instruments or to obtain exposure to, or hedge exposure away from, foreign currencies (foreign currency exchange rate risk). Forward foreign currency contracts outstanding at period end, if any, are listed after each Fund’s Schedule of Investments. | |
Forward foreign currency contracts outstanding at period end, if any, are listed after each Fund’s Schedule of Investments. | |
C. | Swaps |
Certain Funds enter into swap agreements, in which the Fund and a counterparty agree either to make periodic net payments on a specified notional amount or a net payment upon termination. Swap agreements are negotiated in the OTC market and may be entered into as a bilateral contract (“OTC swaps”) or centrally cleared (“centrally cleared swaps”). The value of the swap is reflected on the Statements of Assets and Liabilities as “Swaps at value”. Swaps are marked-to-market daily and changes in value are recorded as “Net change in unrealized appreciation (depreciation) on swaps” in the Statements of Operations. | |
Any upfront premiums paid are recorded as assets and any upfront fees received are recorded as liabilities and are shown under “Swaps at value” in the Statements of Assets and Liabilities and are amortized over the term of the swap. When a swap is terminated, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund’s basis in the contract, if any. Generally, the basis of the contracts is the unamortized premium received or paid. Cash settlements between the Fund and the counterparty are recognized as “Net realized gain (loss) on swaps” in the Statements of Operations. Swap contracts outstanding at period end, if any, are listed after each Fund’s Schedule of Investments. | |
In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is submitted to a central counterparty (the “CCP”) and the Fund’s counterparty on the swap agreement becomes the CCP. The Fund is required to interface with the CCP through a clearing broker. Upon entering into a centrally cleared swap, a Fund is required to deposit initial margin with the clearing broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. | |
Securities deposited as margin are designated on the Schedule of Investments and cash deposited is recorded on the Statements of Assets and Liabilities as “Deposits with prime broker”. | |
Swap transactions involve, to varying degrees, elements of interest rate, credit and market risk in excess of the amounts recognized in the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates and/or market values associated with these transactions. | |
Credit default swaps – A Fund may either buy or sell (write) credit default swaps on single-name issuers (corporate or sovereign), a combination or basket of single-name issuers or traded indexes. Credit default swaps on single-name issuers are agreements in which the buyer pays fixed periodic payments to the seller in consideration for a guarantee from the protection seller to make specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation accelerators, repudiation, moratorium or restructuring). Credit default swaps on a combination or basket of single-name issuers are agreements in which the buyer pays fixed periodic payments to the seller in consideration for a guarantee from the protection seller to make specific payment should a negative credit event take place with respect to any of the referenced entities (e.g., bankruptcy, failure to pay, obligation accelerators, repudiation, moratorium or restructuring). Credit default swaps on traded indexes are agreements in which the buyer pays fixed periodic payments to the seller in consideration for a guarantee from the seller to make a specific payment should a write-down, principal or interest shortfall or default of all or individual underlying securities included in the index occurs. As a buyer, if an underlying credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. As a seller (writer), if an underlying credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. The Funds may enter into credit default swaps to manage their exposure to the market or certain sectors of the market, to reduce their risk exposure to defaults of corporate and/or sovereign issuers or to create exposure to corporate and/or sovereign issuers to which they are not otherwise exposed (credit risk). | |
During the year ended September 30, 2021, the AllianzGI Core Plus Bond Fund, AllianzGI Global Allocation Fund, AllianzGI Global Dynamic Allocation Fund and AllianzGI Preferred Securities and Income Fund utilized both single name credit default swaps and credit index swaps to gain exposure to short individual securities or to gain exposure to a credit or asset-backed index. | |
Total return swaps – Total return swaps are agreements in which there is an exchange of cash flows whereby one party commits to make payments based on the total return (coupons plus capital gains/losses) of an underlying instrument in exchange for fixed or floating rate interest payments. To the extent the total return of the instrument or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment from or make a payment to the counterparty. Certain Funds may enter into total return swaps to obtain exposure to a security or market without owning such security or investing directly in that market or to transfer the risk/return of one market (e.g., fixed income) to another market (e.g., equity) (equity risk and/or interest rate risk). |
Certain Funds may enter into equity basket swaps to obtain exposure to a portfolio of long and short securities. Under the terms of the agreement, the swap is designed to function as a portfolio of direct investments in long and short equity or fixed income positions. This means that the Fund has the ability to trade in and out of long and short positions within the swap and will receive all of the economic benefits and risks equivalent to direct investments in these positions such as: capital appreciation (depreciation), corporate actions, and dividends and interest received and paid, all of which are reflected in the swap value. The swap value also includes interest charges and credits related to the notional values of the long and short positions and cash balances within the swap. These interest charges and credits are based on defined market rates plus or minus a specified spread and are referred to herein as “financing costs”. Positions within the swap are reset periodically, and financing costs are reset monthly. | |
During a reset, any unrealized gains (losses) on positions and accrued financing costs become available for cash settlement between the Fund and the swap counterparty. Cash settlement in and out of the swap may occur at a reset date or any other date, at the discretion of the Fund and the counterparty, over the life of the agreement, and is generally determined based on limits and thresholds established as part of the ISDA Master Agreement (defined below in “Derivative Risks”) between the Fund and the counterparty. | |
The value of the swap is derived from a combination of (i) the net value of the underlying positions, which are valued daily using the last sale or closing prices on the principal exchange on which the securities are traded; (ii) financing costs; (iii) the value of dividends or accrued interest; (iv) cash balances within the swap; and (v) other factors, as applicable. The swap involves additional risks than if the Fund has invested in the underlying positions directly, including: the risk that changes in the swap may not correlate perfectly with the underlying long and short securities; credit risk related to the counterparty’s failure to perform under contract terms; and liquidity risk related to the lack of a liquid market for the swap contract, which may limit the ability of the Fund to close out its position(s). | |
During the year ended September 30, 2021, AllianzGI Global Dynamic Allocation Fund utilized total return swaps to gain exposure to broad markets or to hedge the risk of individual securities within the portfolios, obtain long or short exposure to the underlying reference instrument, obtain leverage and gain exposure to restricted markets in order to avoid the operational burden of ownership filing requirements. At September 30, 2021, the AllianzGI Global Dynamic Allocation Fund did not hold Swap Baskets. | |
Interest rate swaps – Interest rate swaps are agreements in which one party pays a stream of interest payments, either fixed or floating, for another party’s stream of interest payments, either fixed or floating, on the same notional amount for a specified period of time. Certain Funds may enter into interest rate swaps to gain or reduce exposure to interest rates or to manage duration, the yield curve or interest rate risk by economically hedging the value of the fixed rate bonds which may decrease when interest rates rise (interest rate risk). | |
During the year ended September 30, 2021, the Funds did not utilize interest rate swaps. | |
Inflation swaps – Inflation swaps are contracts in which one party agrees to pay the cumulative percentage increase in a price index (e.g., the Consumer Price Index with respect to CPI swaps) over the term of the swap (with some lag on the inflation index), while the other pays a compounded fixed rate. One factor that may lead to changes in the values of inflation swaps is a change in real interest rates, which are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, which may lead to a decrease in value of an inflation swap. Certain Funds may enter into inflation swaps to hedge the inflation risk associated with non-inflation indexed investments, thereby creating “synthetic” inflation-indexed investments. | |
During the year ended September 30, 2021, the Funds did not utilize inflation swaps. | |
Variance swaps –Variance swaps are contracts in which two parties agree to exchange cash payments based on the difference between the stated level of variance and the actual variance realized on an underlying asset or index. Certain Funds may enter into variance swaps in an attempt to hedge equity market risk or adjust exposure to the equity markets. | |
During the year ended September 30, 2021, the AllianzGI Global Dynamic Allocation Fund utilized variance swaps to capitalize on volatility in the equity markets. | |
The following is a summary of derivative instruments categorized by primary risk exposure, presented in the financial statements as of September 30, 2021: | |
The effect of derivatives on the Statements of Assets and Liabilities at September 30, 2021: |
Primary Risk | AllianzGI Core Plus Bond Fund | AllianzGI Global Allocation Fund | ||||
Asset Derivatives | ||||||
Credit contracts | Swaps at value | $ 1 | $ 36 | |||
Equity contracts | Variation margin payable on futures contracts(1) | — | 15 | |||
Currency contracts | Variation margin payable on futures contracts(1) | — | 198 | |||
Interest rate contracts | Variation margin payable on futures contracts(1) | 48 | 419 | |||
Total | $ 49 | $ 668 | ||||
Liability Derivatives | ||||||
Credit contracts | Swaps, at value | $(584) | $ (565) | |||
Equity contracts | Variation margin payable on futures contracts(1) | — | (1,128) | |||
Interest rate contracts | Variation margin payable on futures contracts(1) | (38) | (194) | |||
Total | $(622) | $(1,887) |
Primary Risk | AllianzGI Global Dynamic Allocation Fund | AllianzGI Preferred Securities and Income Fund | ||||
Asset Derivatives | ||||||
Equity contracts | Swaps at value | $ 35 | $ — | |||
Interest rate contracts | Variation margin payable on futures contracts(1) | 67 | — | |||
Total | $ 102 | $ — | ||||
Liability Derivatives | ||||||
Credit contracts | Swaps at value | $ (80) | $(208) | |||
Equity contracts | Variation margin payable on futures contracts(1) | (218) | — | |||
Equity contracts | Swaps at value | (76) | — | |||
Interest rate contracts | Variation margin payable on futures contracts(1) | (126) | (2) | |||
Total | $(500) | $(210) |
Primary Risk | AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | |||
Net Realized Gain (Loss) From | ||||||
Credit contracts | Swaps | $ (323) | $— | $ 43 | ||
Equity contracts | Futures | — | — | 10,429 | ||
Equity contracts | Swaps | — | — | — | ||
Currency contracts | Forward foreign currency transactions | — | — (1) | — (1) | ||
Currency contracts | Futures | — | — | (260) | ||
Interest rate contracts | Futures | (119) | — | (1,234) | ||
Interest rate contracts | Swaps | — | — | — | ||
Total | $ (442) | $— (1) | $ 8,978 | |||
Net Change in Unrealized Appreciation/Depreciation on | ||||||
Credit contracts | Swaps | $ 331 | $— | $ 4 | ||
Equity contracts | Futures | — | — | (901) | ||
Currency contracts | Futures | — | — | 170 | ||
Interest rate contracts | Futures | 58 | — | 134 | ||
Total | $ 389 | — | $ (593) |
(1)Amount is less than $500. |
Primary Risk | AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | AllianzGI International Small-Cap Fund | |||
Net Realized Gain (Loss) From | ||||||
Credit contracts | Swaps | $ 45 | $— | $ — | ||
Equity contracts | Futures | 3,545 | — | — | ||
Equity contracts | Swaps | 535 | — | — | ||
Currency contracts | Forward foreign currency transactions | (2) | 1 | (3) | ||
Currency contracts | Futures | (47) | — | — | ||
Interest rate contracts | Futures | (379) | — | — | ||
Interest rate contracts | Swaps | — | — | — | ||
Total | $3,697 | $ 1 | $ (3) | |||
Net Change in Unrealized Appreciation/Depreciation on | ||||||
Credit contracts | Swaps | $ 1 | $— | $ — | ||
Equity contracts | Futures | (76) | — | — | ||
Currency contracts | Futures | 1 | — | — | ||
Currency contracts | Forward foreign currency transactions | — | — | — (1) | ||
Interest rate contracts | Futures | (77) | — | — | ||
Interest rate contracts | Swaps | (51) | — | — | ||
Total | $ (202) | $— | $ — (1) |
Primary Risk | AllianzGI Preferred Securities and Income Fund | AllianzGI Water Fund | ||
Net Realized Gain (Loss) From | ||||
Credit contracts | Swaps | $ (136) | $ — | |
Currency contracts | Forward foreign currency transactions | — | (28) | |
Interest rate contracts | Futures | (4) | — | |
Total | $ (140) | $ (28) | ||
Net Change in Unrealized Appreciation/Depreciation on | ||||
Credit contracts | Swaps | $ 130 | — | |
Interest rate contracts | Futures | (2) | — | |
Total | $ 128 | $ — |
AllianzGI Core Plus Bond Fund | AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | |||
Futures Contracts - Long Positions(1) | $ (43) | $— | $ (204) | ||
Futures Contracts - Short Positions(1) | 52 | — | 338 | ||
Forward Foreign Currency Exchange Purchase Contracts(2) | — | — (3) | — (3) | ||
Forward Foreign Currency Exchange Sale Contracts(2) | — | — (3) | — (3) | ||
Credit Default Swap Agreements - Buy Protection(2) | (9,056) | — | (4,213) | ||
Credit Default Swap Agreements - Sell Protection(2) | 1,928 | — | 2,760 |
AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | AllianzGI International Small-Cap Fund | |||
Futures Contracts - Long Positions(1) | $ (66) | $— | $ — | ||
Futures Contracts - Short Positions(1) | (10) | — | — | ||
Forward Foreign Currency Exchange Purchase Contracts(2) | — (3) | — (3) | 31 | ||
Forward Foreign Currency Exchange Sale Contracts(2) | — (3) | — (3) | (10) | ||
Credit Default Swap Agreements - Buy Protection(2) | (2,305) | — | — | ||
Variance Swap Agreements(2) | 15 | — | — |
AllianzGI Preferred Securities and Income Fund | AllianzGI Water Fund | ||
Futures Contracts - Long Positions(1) | $ (1) | $— | |
Forward Foreign Currency Exchange Purchase Contracts(2) | — | — (3) | |
Forward Foreign Currency Exchange Sale Contracts(2) | — | — (3) | |
Credit Default Swap Agreements - Buy Protection(2) | (961) | — | |
Credit Default Swap Agreements - Sell Protection(2) | 262 | — |
(1) Average unrealized for the period. |
(2) Notional amount. |
(3) Fund had derivative activity during the period but did not have open positions at any month-end in the period. |
D. | Derivative Risks |
A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract. | |
A Fund’s risk of loss from counterparty credit risk on derivatives bought or sold OTC, rather than traded on a securities exchange, is generally limited to the aggregate unrealized gain netted against any collateral held by such Fund. For OTC purchased options, each Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by such Fund should the counterparty fail to perform under the contracts. Options written by a Fund do not typically give rise to counterparty credit risk, as options written generally obligate the Fund, and not the counterparty to perform. | |
With exchange traded purchased options and futures and centrally cleared swaps generally speaking, there is less counterparty credit risk to the Fund since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency) of the clearing broker or clearinghouse. Additionally, credit risk exists in exchange traded futures and centrally cleared swaps with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Fund. |
In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, each Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. In addition, certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event a Fund’s net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. | |
E. | Collateral Requirements and Master Netting Agreements (“MNA”) |
For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Funds and the counterparty. | |
Cash collateral that has been pledged to cover obligations of a Fund and cash collateral received from the counterparty, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments. Typically, the Funds and counterparties are not permitted to sell, re-pledge or use the collateral they receive. To the extent amounts due to a Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance. The Funds attempt to mitigate counterparty risk by only entering into agreements with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. | |
For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities. | |
The following tables present the Funds’ derivative assets and liabilities by counterparty net of amounts available for offset under a MNA and net of the related collateral received/pledged by the Funds as of September 30, 2021: |
At September 30, 2021, the Fund’s derivative assets and liabilities (by type) are as follows: | |||||||||||
AllianzGI Core Plus Bond Fund | AllianzGI Global Allocation Fund | ||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||
Futures contracts | $— | $ 1 | $— | $ 351 | |||||||
Swaps | — | 583 | — | 529 | |||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | $— | $ 584 | $— | $ 880 | |||||||
Derivatives not subject to a MNA or similar agreement | — | (584) | — | (880) | |||||||
Total assets and liabilities subject to a MNA | $— | $ — | $— | $ — |
At September 30, 2021, the Fund’s derivative assets and liabilities (by type) are as follows: | |||||||||||
AllianzGI Global Dynamic Allocation Fund | AllianzGI Preferred Securities and Income Fund | ||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||
Futures contracts | $— | $ 89 | $— (1) | $ — | |||||||
Swaps | — | 121 | — | 208 | |||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | $— | $ 210 | $ —(1) | $ 208 | |||||||
Derivatives not subject to a MNA or similar agreement | — | (251) | — | (208) | |||||||
Total assets and liabilities subject to a MNA | $— | $ (41) | $ — | $ — |
(1) | Amount is less than $500. |
AllianzGI Global Dynamic Allocation Fund | ||||||||||
Counterparty | Derivative Assets Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-Cash Collateral Received | Cash Collateral Received | Net Amount of Derivative Assets | |||||
Citibank N.A. | $ 6 | $ (6) | $— | $— | $— | |||||
UBS Securities LLC | 29 | (29) | — | — | — | |||||
Total | $35 | $ (35) | $— | $— | $— |
Counterparty | Derivatives Liabilities Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Pledged | Cash Collateral Pledged | Net Amount of Derivative Liabilities | |||||
Citibank N.A. | $47 | $ (6) | $— | $— | $41 | |||||
UBS Securities LLC | 29 | (29) | — | — | — | |||||
Total | $76 | $(35) | $— | $— | $41 |
A. | Investment Adviser |
Effective February 1, 2021, the Adviser, an indirect, wholly-owned subsidiary of Virtus Investment Partners, Inc. (“Virtus”), is the investment adviser to the Funds. The Adviser manages the Funds’ investment programs and general operations of the Funds, including oversight of the Funds’ subadvisers. Prior to February 1, 2021, Allianz Global Investors U.S. LLC (“AllianzGI U.S.”) served as the investment adviser to the Funds. | |
As compensation for its services to the Funds, the Adviser is entitled to a fee, which is calculated daily and paid monthly based upon the following annual rates as a percentage of the average daily net assets of each Fund: |
Fund | Advisory Fee | |
AllianzGI Convertible Fund | 0.57% | |
AllianzGI Core Plus Bond Fund | 0.30 | |
AllianzGI Emerging Markets Consumer Fund | 0.85 | |
AllianzGI Global Allocation Fund | 0.70 | |
AllianzGI Global Dynamic Allocation Fund | 0.70 | |
AllianzGI Global Sustainability Fund | 0.80 | |
AllianzGI High Yield Bond Fund | 0.48 | |
AllianzGI International Small-Cap Fund | 1.00 | |
AllianzGI Preferred Securities and Income Fund | 0.45 | |
AllianzGI Short Duration High Income Fund | 0.48 | |
AllianzGI Water Fund | 0.95 | |
NFJ Emerging Markets Value Fund | 0.85 |
B. | Subadvisers |
The subadvisers manage the investments of each Fund for which they are paid a fee by the Adviser. A list of the subadvisers and the Funds they serve as of the end of the period is as follows: |
Fund | Subadviser | |
AllianzGI Convertible Fund | AllianzGI U.S. | |
AllianzGI Core Plus Bond Fund | AllianzGI U.S. | |
AllianzGI Emerging Markets Consumer Fund | AllianzGI U.S. | |
AllianzGI Global Allocation Fund | AllianzGI U.S. | |
AllianzGI Global Dynamic Allocation Fund | AllianzGI U.S. | |
AllianzGI Global Sustainability Fund | AllianzGI U.S. | |
AllianzGI High Yield Bond Fund | AllianzGI U.S. | |
AllianzGI International Small-Cap Fund | AllianzGI U.S. | |
AllianzGI Preferred Securities and Income Fund | AllianzGI U.S. | |
AllianzGI Short Duration High Income Fund | AllianzGI U.S. | |
AllianzGI Water Fund | AllianzGI U.S. | |
NFJ Emerging Markets Value Fund | NFJ (1) |
(1) | NFJ Investment Group, LLC (“NFJ”), which is an indirect, wholly-owned subsidiary of Virtus. |
C. | Expense Limitations |
Effective February 1, 2021, the Adviser has contractually agreed to limit each Fund’s annual total operating expenses, subject to the exceptions listed below, so that such expenses do not exceed, on an annualized basis, the following respective percentages of average daily net assets through February 1, 2023. Following the contractual period, the Adviser may discontinue these expense limitation arrangements at any time. The waivers and reimbursements are accrued daily and received monthly. |
Fund | Class A | Class C | Class P | Institutional Class | Class R6 | Administrative Class | ||||||
AllianzGI Convertible Fund | 0.96 % | 1.73 % | 0.71 % | 0.71 % | N/A | 0.93 % | ||||||
AllianzGI Core Plus Bond Fund | N/A | N/A | 0.35 | 0.30 | 0.25 % | N/A | ||||||
AllianzGI Emerging Markets Consumer Fund | 1.40 | N/A | N/A | 1.05 | N/A | N/A | ||||||
AllianzGI Global Allocation Fund | 0.52 | 1.27 | 0.32 | 0.29 | 0.22 | 0.47 | ||||||
AllianzGI Global Dynamic Allocation Fund | 0.82 | 1.58 | 0.68 | 0.54 | 0.54 | 0.79 | ||||||
AllianzGI Global Sustainability Fund | 0.94 | N/A | 0.79 | 0.69 | N/A | N/A | ||||||
AllianzGI High Yield Bond Fund | 1.12 | 1.81 | 0.80 | 0.83 | N/A | 1.00 | ||||||
AllianzGI International Small-Cap Fund | 1.25 | 2.00 | 1.10 | 1.04 | 1.00 | N/A | ||||||
AllianzGI Preferred Securities and Income Fund | N/A | N/A | 0.60 | 0.55 | 0.50 | N/A | ||||||
AllianzGI Short Duration High Income Fund | 0.86 | 1.11 | 0.65 | 0.60 | 0.55 | N/A | ||||||
AllianzGI Water Fund | 1.22 | 1.97 | 0.94 | 0.93 | N/A | N/A | ||||||
NFJ Emerging Markets Value Fund | 1.14 | 1.89 | 0.99 | 0.89 | N/A | N/A |
Fund | Management Fee Waiver | Class A | Class C | Class P | Institutional Class | Class R6 | Administrative Class | |||||||
AllianzGI Convertible Fund | N/A | 0.96% | 1.73% | 0.74% | 0.71% | N/A | 0.93% | |||||||
AllianzGI Core Plus Bond Fund | N/A | N/A | N/A | 0.35 | 0.30 | 0.25% | N/A | |||||||
AllianzGI Emerging Markets Consumer Fund | N/A | 1.39 | N/A | N/A | 1.05 | N/A | N/A | |||||||
AllianzGI Global Allocation Fund | 0.55% | 1.01 | 1.76 | 0.81 | 0.74 | 0.71 | 0.96 | |||||||
AllianzGI Global Dynamic Allocation Fund | 0.55 | 1.01 | 1.78 | 0.84 | 0.74 | 0.74 | 0.99 | |||||||
AllianzGI Global Sustainability Fund | N/A | 0.94 | N/A | 0.79 | 0.69 | N/A | N/A | |||||||
AllianzGI High Yield Bond Fund | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |||||||
AllianzGI International Small-Cap Fund | N/A | 1.25 | 2.00 | 1.10 | 1.04 | 1.00 | N/A | |||||||
AllianzGI Preferred Securities and Income Fund | N/A | N/A | N/A | 0.60 | 0.55 | 0.50 | N/A | |||||||
AllianzGI Short Duration High Income Fund | N/A | 0.86 | 1.11 | 0.65 | 0.60 | 0.55 | N/A | |||||||
AllianzGI Water Fund | N/A | 1.22 | 1.97 | 0.94 | 0.93 | N/A | N/A | |||||||
NFJ Emerging Markets Value Fund | N/A | 1.14 | 1.89 | 0.98 | 0.89 | N/A | N/A |
D. | Expense Recapture |
Under certain conditions, the Adviser may recapture operating expenses reimbursed or fees waived under these arrangements within three years after the date on which such amounts were incurred or waived. A Fund must pay its ordinary operating expenses before the Adviser is entitled to any reimbursement and must remain in compliance with any applicable expense limitations or, if none, the expense limitation in effect at the time of the waiver or reimbursement. All or a portion of the following Adviser reimbursed expenses may be recaptured by the fiscal year ending September 30: |
Expiration | ||||||||
Fund | 2022 | 2023 | 2024 | Total | ||||
AllianzGI Convertible Fund | ||||||||
Class A | $ — | $ — | $ 302 | $ 302 | ||||
Class C | — | — | 72 | 72 | ||||
Class P | — | — | 882 | 882 | ||||
Institutional Class | — | — | 1,161 | 1,161 | ||||
Administrative Class | — | — | 14 | 14 | ||||
AllianzGI Core Plus Bond Fund | ||||||||
Class P | — (1) | — (1) | — (1) | — (1) | ||||
Institutional Class | 2 | — (1) | 1 | 3 | ||||
Class R6 | 291 | 287 | 247 | 825 |
Expiration | ||||||||
Fund | 2022 | 2023 | 2024 | Total | ||||
AllianzGI Emerging Markets Consumer Fund | ||||||||
Class A | $ — | $ — (1) | $ 1 | $ 1 | ||||
Institutional Class | 105 | 167 | 197 | 469 | ||||
AllianzGI Global Allocation Fund | ||||||||
Class A | — (1) | 87 | 193 | 280 | ||||
Class C | 3 | 6 | 11 | 20 | ||||
Class P | — | 8 | 24 | 32 | ||||
Institutional Class | — | 11 | 29 | 40 | ||||
Class R6 | 2 | 407 | 840 | 1,249 | ||||
Administrative Class | — | — | 1 | 1 | ||||
AllianzGI Global Dynamic Allocation Fund | ||||||||
Class A | 6 | 9 | 23 | 38 | ||||
Class C | 2 | 4 | 6 | 12 | ||||
Class P | 32 | 5 | 12 | 49 | ||||
Institutional Class | 36 | 72 | 141 | 249 | ||||
Class R6 | 453 | 592 | 339 | 1,384 | ||||
Administrative Class | — (1) | — (1) | — (1) | — (1) | ||||
AllianzGI Global Sustainability Fund | ||||||||
Class A | 6 | 8 | 19 | 33 | ||||
Class P | 106 | 78 | 69 | 253 | ||||
Institutional Class | 74 | 355 | 528 | 957 | ||||
AllianzGI High Yield Bond Fund | ||||||||
Class A | — | — | 1 | 1 | ||||
Class C | — | — | 1 | 1 | ||||
Class P | — | — | 6 | 6 | ||||
Institutional | — | — | 1 | 1 | ||||
Administrative Class | — | — | 1 | 1 | ||||
AllianzGI International Small-Cap Fund | ||||||||
Class A | 38 | 21 | 23 | 82 | ||||
Class C | 7 | 4 | 3 | 14 | ||||
Class P | 113 | 57 | 54 | 224 | ||||
Institutional Class | 237 | 157 | 178 | 572 | ||||
Class R6 | 129 | 128 | 148 | 405 | ||||
AllianzGI Preferred Securities and Income Fund | ||||||||
Class P | — (1) | — (1) | — (1) | — (1) | ||||
Institutional Class | 31 | 41 | 52 | 124 | ||||
Class R6 | 192 | 138 | 106 | 436 | ||||
AllianzGI Short Duration High Income Fund | ||||||||
Class A | — | — | 105 | 105 | ||||
Class C | — | 17 | 80 | 97 | ||||
Class P | — | 154 | 284 | 438 | ||||
Institutional Class | — | 88 | 289 | 377 | ||||
Class R6 | — | 6 | 21 | 27 | ||||
AllianzGI Water Fund | ||||||||
Class A | 164 | 323 | 571 | 1,058 | ||||
Class C | 69 | 123 | 157 | 349 | ||||
Class P | 303 | 463 | 921 | 1,687 | ||||
Institutional Class | 231 | 333 | 756 | 1,320 | ||||
NFJ Emerging Markets Value Fund | ||||||||
Class A | 76 | 71 | 62 | 209 | ||||
Class C | 5 | 5 | 4 | 14 | ||||
Class P | 6 | 10 | 47 | 63 | ||||
Institutional Class | 402 | 437 | 491 | 1,330 |
(1) | Amount is less than $500. |
Fund | Class A | Class C | Class R6 | Total | ||||
AllianzGI Convertible Fund | $22 | $12 | $ — | $ 34 | ||||
AllianzGI Core Plus Bond Fund | — | — | 23 | 23 | ||||
AllianzGI Emerging Markets Consumer Fund | 1 | — | — | 1 | ||||
AllianzGI Global Dynamic Allocation Fund | 1 | — (1) | 48 | 49 | ||||
AllianzGI Global Sustainability Fund | 1 | — | — | 1 | ||||
AllianzGI High Yield Bond Fund | 18 | 2 | — | 20 | ||||
AllianzGI International Small-Cap Fund | — | — (1) | 15 | 15 | ||||
AllianzGI Preferred Securities and Income Fund | — | — | 15 | 15 | ||||
AllianzGI Short Duration High Income Fund | 5 | — | — | 5 | ||||
NFJ Emerging Markets Value Fund | 2 | — | — | 2 |
(1) | Amount is less than $500. |
E. | Distributor |
Effective February 1, 2021, VP Distributors, LLC (“VP Distributors”), an indirect, wholly-owned subsidiary of Virtus, serves as the distributor of each Fund’s shares. VP Distributors has advised the Funds that for the 8 months ended September 30, 2021, it retained net commissions of $302 for Class A shares and CDSC of $8 and 15 for Class A shares and Class C shares, respectively. Prior to February 1, 2021, Allianz Global Investors Distributors LLC, the former Distributor, served as the principal underwriter of each class of the Trust’s shares. | |
In addition, each Fund pays VP Distributors 12b-1 fees under a 12b-1 Plan as a percentage of the average daily net assets of each respective class at the annual rates of 0.25% for Class A shares, and 1.00% for Class C shares (0.90% for AllianzGl High Yield Bond Fund and 0.50% for AllianzGI Short Duration High Income Fund). Administrative Class shares pay a 0.25% Administrative Distribution fee. Class P shares, Institutional Class shares, Class R6 shares, and Administrative Class shares are not subject to a 12b-1 Plan. Prior to February 1, 2021, each Fund paid Allianz Global Investors Distributors LLC 12b-1 fees under a 12b-1 Plan as a percentage of the average daily net assets of each respective class at the same annual rates disclosed above. | |
Under certain circumstances, shares of certain Virtus Mutual Funds may be exchanged for shares of the same class of certain other Virtus Mutual Funds on the basis of the relative NAV per share at the time of the exchange. On exchanges with share classes that carry a CDSC, the CDSC schedule of the original shares purchased continues to apply. | |
F. | Administrator and Transfer Agent |
Effective February 1, 2021, Virtus Fund Services, LLC, an indirect, wholly-owned subsidiary of Virtus, serves as the administrator and transfer agent to the Funds. Prior to February 1, 2021, in its capacity as investment adviser to the Funds during the period, in addition to its investment advisory services, AllianzGI U.S. provided administrative services to the Funds. Prior to February 1, 2021, State Street Bank served as transfer agent to the Funds. | |
For the fiscal year (“period”) ended September 30, 2021, the Funds incurred administration fees totaling $3,402 which are included in the Statements of Operations within the line item “Administration and accounting fees.” The fees are calculated daily and paid monthly. | |
For the period ended September 30, 2021, the Funds incurred transfer agent fees totaling $1,517 which are included in the Statements of Operations within the line item “Transfer agent fees and expenses.” The fees are calculated daily and paid monthly. | |
G. | Payments from Affiliates |
During the period ended September 30, 2021, AllianzGI U.S. reimbursed AllianzGI Global Allocation Fund, AllianzGI Global Dynamic Allocation Fund, and AllianzGI Preferred Securities and Income Fund for losses. | |
H. | Investments with Affiliates |
The Funds are permitted to purchase assets from or sell assets to certain related affiliates under specified conditions outlined in procedures adopted by the Board. The procedures have been designed to ensure that any purchase or sale of assets by the Fund from or to another fund or portfolio that are, or could be, considered an affiliate by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers comply with Rule 17a-7 under the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. During the period ended September 30, 2021, the Funds (except AllianzGI Short Duration Income Fund) did not engage in any transactions pursuant to Rule 17a-7 under the 1940 Act. | |
During the year ended September 30, 2021, AllianzGI Short Duration High Income Fund engaged in Rule 17a-7 securities purchase transactions of $8,755. There were no Rule 17a-7 securities sales or realized gain loss on securities. | |
Outside of Rule 17a-7 transactions, other investments with affiliated issuers are separately reported in this footnote. An affiliated issuer includes any company in which the Fund held 5% or more of a company’s outstanding voting shares at any point during the period, as well as other circumstances where an investment adviser or subadviser to the Fund is deemed to exercise, directly or indirectly, a certain level of control over the company. | |
A summary of the Funds’ total long-term and short-term purchases and sales of the respective shares of the affiliated investments during the period ended September 30, 2021, is as follows: |
Value, beginning of period | Purchases (1) | Sales proceeds | Net realized gain (loss) on affiliated securities | Net change in unrealized appreciation (depreciation) on affiliated securities | Value, end of period | Shares | Dividend income | Distributions of realized gains | |||||||||
AllianzGI Global Allocation Fund | |||||||||||||||||
Exchange-Traded Fund—0.9% | |||||||||||||||||
PIMCO 1-5 Year U.S. TIPS Index ETF | $ 2,479 | $ — | $ — | $ — | $ 44 | $ 2,523 | 46,000 | $ 96 | $ — | ||||||||
Affiliated Mutual Fund—32.3% | |||||||||||||||||
AllianzGI Global Sustainability Fund Institutional Shares(2) | 105,061 | 3,235 | 35,388 | 6,727 | 12,919 | 92,554 | 3,521,823 | 824 | 2,411 | ||||||||
AllianzGI Best Styles Global Managed Volatility Fund | 26,045 | 2,596 | 26,829 | (425) | (1,387) | — | — | 952 | 1,644 | ||||||||
AllianzGI Green Bond Fund | 24,369 | 29 | 24,876 | 1,114 | (636) | — | — | 29 | — | ||||||||
AllianzGI Performance Fee Managed Futures Strategy Fund | 24,606 | 2,983 | 27,920 | (4,010) | 4,341 | — | — | 565 | — | ||||||||
Total | $182,560 | $8,843 | $115,013 | $ 3,406 | $15,281 | $95,077 | $2,466 | $4,055 |
(1) | Includes reinvested dividends from income and capital gain distributions. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) on affiliated securities | Net change in unrealized appreciation (depreciation) on affiliated securities | Value, end of period | Shares | Dividend income | Distributions of realized gains | |||||||||
AllianzGI Global Dynamic Allocation Fund | |||||||||||||||||
Corporate Bonds and Notes—0.2% | |||||||||||||||||
AllianzGI International Growth Fund(1) | $4,191 | $4,257 | $4,550 | $(2,547) | $ (1,351) | $— | — | $121 | $4,137 | ||||||||
Total | $4,191 | $4,257 | $4,550 | $(2,547) | $ (1,351) | $— | $121 | $4,137 |
(1) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) on affiliated securities | Net change in unrealized appreciation (depreciation) on affiliated securities | Value, end of period | Shares | Dividend income | Distributions of realized gains | |||||||||
AllianzGI High Yield Bond Fund | |||||||||||||||||
Common Stocks—0.0% | |||||||||||||||||
LiveStyle, Inc.(1),(2),(3),(4)(5) | $ — | $— | $ — | $ — | $ — | $ — | 67,983 | $— | $— | ||||||||
Preferred Stock—2.7% | |||||||||||||||||
LiveStyle, Inc.(1),(2),(3),(4) | 4,400 | — | (3,864) | 76 | 1,282 | 1,894 | 18,941 | — | — | ||||||||
Warrant—0.0% | |||||||||||||||||
LiveStyle, Inc. Series C(1),(2),(3)(4) | — | — | — | — | — | — | 14,500 | — | — | ||||||||
Total | $4,400 | $— | $(3,864) | $76 | $1,282 | $1,894 | $— | $— |
(1) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
(2) | A member of the Fund’s portfolio management team is a member of the board of directors of LiveStyle, Inc. The Fund’s aggregate value of investments in LiveStyle, Inc. represents 2.71% of net assets. See Note 4H in the Notes to Financial Statements. |
(3) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(4) | Non-income producing. |
(5) | All or a portion of the security is restricted. |
I. | Trustee Compensation |
The Trust provides a deferred compensation plan for its Trustees who receive compensation from the Trust. Under the deferred compensation plan, Trustees may elect to defer all or a portion of their compensation. Amounts deferred are retained by the Trust, and then, to the extent permitted by the 1940 Act, in turn, may be invested in the shares of affiliated or unaffiliated mutual funds selected by the participating Trustees. Investments in such instruments are included in “Other assets” in the Statements of Assets and Liabilities at September 30, 2021. | |
In calendar year 2018 and certain other periods prior to January 1, 2020, the Funds maintained a different deferred compensation plan pursuant to which each Trustee who was not affiliated with AllianzGI U.S. had the opportunity to elect not to receive all or a portion of his or her fees from the respective Fund on a current basis, but instead to receive in a subsequent period chosen by the Trustee an amount equal to the value of such compensation if such compensation had been invested in one or more series of Virtus Investment Trust (then known as Allianz Funds) and Virtus Strategy Trust (then known as Allianz Funds Multi-Strategy Trust) selected by the such Trustee from and after the normal payment dates for such compensation. The deferred compensation program was closed to new deferrals effective January 1, 2020, and all Trustee fees earned with respect to service in calendar year 2020 were paid in cash, on a current basis. The Trustees do not currently receive any pension or retirement benefits from the Funds. | |
In addition to the Trustee fees deferred in the current period, the Funds still have obligations with respect to Trustee fees deferred in 2018 and in other periods prior to January 1, 2020, and will continue to have such obligations until all deferred Trustee fees are paid out pursuant to the terms of the applicable deferred compensation plan. |
Purchases | Sales | ||
AllianzGI Convertible Fund | $3,852,181 | $3,470,155 | |
AllianzGI Core Plus Bond Fund | 92,399 | 91,056 | |
AllianzGI Emerging Markets Consumer Fund | 10,064 | 44,182 | |
AllianzGI Global Allocation Fund | 169,438 | 193,932 | |
AllianzGI Global Dynamic Allocation Fund | 74,784 | 71,413 | |
AllianzGI Global Sustainability Fund | 43,626 | 104,058 | |
AllianzGI High Yield Bond Fund | 110,817 | 133,560 | |
AllianzGI International Small-Cap Fund | 41,490 | 59,950 | |
AllianzGI Preferred Securities and Income Fund | 28,690 | 33,977 |
Purchases | Sales | ||
AllianzGI Short Duration High Income Fund | $ 509,301 | $ 605,878 | |
AllianzGI Water Fund | 398,858 | 271,986 | |
NFJ Emerging Markets Value Fund | 84,710 | 86,408 |
Purchases | Sales | ||
AllianzGI Core Plus Bond Fund | $105,404 | $ 99,341 | |
AllianzGI Global Allocation Fund | 283,008 | 250,258 | |
AllianzGI Global Dynamic Allocation Fund | 16,912 | 17,168 | |
AllianzGI Preferred Securities and Income Fund | 346 | 144 |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 4,895 | $ 218,499 | 5,360 | $ 176,137 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 437 | 19,176 | 120 | 3,677 | — | — | — | — | |||||||
Shares repurchased | (3,238) | (145,505) | (1,289) | (41,935) | — | — | — | — | |||||||
Net Increase / (Decrease) | 2,094 | $ 92,170 | 4,191 | $ 137,879 | — | $ — | — | $ — | |||||||
Class C | |||||||||||||||
Shares sold | 864 | $ 39,144 | 1,497 | $ 49,314 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 155 | 6,908 | 63 | 1,943 | — | — | — | — | |||||||
Shares repurchased | (831) | (38,310) | (744) | (24,394) | — | — | — | — | |||||||
Net Increase / (Decrease) | 188 | $ 7,742 | 816 | $ 26,863 | — | $ — | — | $ — | |||||||
Class R* | |||||||||||||||
Shares sold | 23 | $ 1,046 | 2 | $ 62 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | — (1) | 22 | — (1) | 7 | — | — | — | — | |||||||
Shares repurchased | (30) | (1,386) | — (1) | (2) | — | — | — | — | |||||||
Net Increase / (Decrease) | (7) | $ (318) | 2 | $ 67 | — | $ — | — | $ — | |||||||
Class P | |||||||||||||||
Shares sold | 9,111 | $ 394,111 | 13,169 | $ 406,955 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 970 | 41,125 | 335 | 9,976 | — (1) | 1 | — (1) | 1 | |||||||
Shares repurchased | (6,374) | (276,789) | (4,393) | (132,223) | — | — | — | — | |||||||
Net Increase / (Decrease) | 3,707 | $ 158,447 | 9,111 | $ 284,708 | — (1) | $ 1 | — (1) | $ 1 | |||||||
Institutional Class | |||||||||||||||
Shares sold | 19,695 | $ 860,125 | 22,968 | $ 718,717 | 106 | $ 1,645 | 2 | $ 26 | |||||||
Reinvestment of distributions | 2,171 | 93,445 | 771 | 23,162 | — (1) | 7 | — (1) | 1 | |||||||
Shares repurchased | (12,761) | (560,179) | (9,115) | (290,448) | (1) | (21) | — | — | |||||||
Net Increase / (Decrease) | 9,105 | $ 393,391 | 14,624 | $ 451,431 | 105 | $ 1,631 | 2 | $ 27 | |||||||
Class R6 | |||||||||||||||
Shares sold | — | $ — | — | $ — | 816 | $ 12,727 | 135 | $ 2,173 | |||||||
Reinvestment of distributions | — | — | — | — | 322 | 5,032 | 235 | 3,643 | |||||||
Shares repurchased | — | — | — | — | (783) | (12,030) | (1,014) | (16,281) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 355 | $ 5,729 | (644) | $ (10,465) |
AllianzGI Convertible Fund | AllianzGI Core Plus Bond Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Administrative Class | |||||||||||||||
Shares sold | 340 | $ 14,345 | 346 | $ 12,318 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 33 | 1,436 | 2 | 55 | — | — | — | — | |||||||
Shares repurchased | (154) | (6,829) | (18) | (551) | — | — | — | — | |||||||
Net Increase / (Decrease) | 219 | $ 8,952 | 330 | $ 11,822 | — | $ — | — | $ — |
AllianzGI Emerging Markets Consumer Fund | AllianzGI Global Allocation Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 2 | $ 30 | 4 | $ 60 | 587 | $ 6,730 | 340 | $ 3,634 | |||||||
Reinvestment of distributions | — (1) | 2 | — (1) | 1 | 234 | 2,657 | 343 | 3,622 | |||||||
Shares repurchased | (—) (1) | (2) | (5) | (69) | (856) | (9,958) | (954) | (10,096) | |||||||
Net Increase / (Decrease) | 2 | $ 30 | (1) | $ (8) | (35) | $ (571) | (271) | $ (2,840) | |||||||
Class C | |||||||||||||||
Shares sold | — | $ — | — | $ — | 30 | $ 357 | 97 | $ 1,083 | |||||||
Reinvestment of distributions | — | — | — | — | 14 | 165 | 34 | 370 | |||||||
Shares repurchased | — | — | — | — | (148) | (1,796) | (384) | (4,209) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | (104) | $ (1,274) | (253) | $ (2,756) | |||||||
Class R* | |||||||||||||||
Reinvestment of distributions | — | $ — | — | $ — | — (1) | $ 1 | — (1) | $ 2 | |||||||
Shares repurchased | — | — | — | — | (2) | (22) | — | — | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | (2) | $ (21) | — (1) | $ 2 | |||||||
Class P | |||||||||||||||
Shares sold | — | $ — | — | $ — | 239 | $ 2,742 | 355 | $ 3,697 | |||||||
Reinvestment of distributions | — | — | — | — | 17 | 188 | 25 | 263 | |||||||
Shares repurchased | — | — | — | — | (192) | (2,186) | (454) | (4,755) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 64 | $ 744 | (74) | $ (795) | |||||||
Institutional Class | |||||||||||||||
Shares sold | 67 | $ 1,219 | 42 | $ 611 | 222 | $ 2,548 | 441 | $ 4,729 | |||||||
Reinvestment of distributions | 25 | 422 | 27 | 388 | 62 | 697 | 51 | 539 | |||||||
Shares repurchased | (2,095) | (35,782) | (738) | (9,372) | (243) | (2,814) | (170) | (1,748) | |||||||
Net Increase / (Decrease) | (2,003) | $ (34,141) | (669) | $ (8,373) | 41 | $ 431 | 322 | $ 3,520 | |||||||
Class R6 | |||||||||||||||
Shares sold | — | $ — | — | $ — | 4,901 | $ 55,745 | 3,423 | $ 35,014 | |||||||
Reinvestment of distributions | — | — | — | — | 1,466 | 16,125 | 2,366 | 24,244 | |||||||
Shares repurchased | — | — | — | — | (5,443) | (61,888) | (11,129) | (116,406) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 924 | $ 9,982 | (5,340) | $ (57,148) | |||||||
Administrative Class | |||||||||||||||
Shares sold | — | $ — | — | $ — | 1 | $ 12 | — (1) | $ 2 | |||||||
Reinvestment of distributions | — | — | — | — | — (1) | 3 | — (1) | 2 | |||||||
Shares repurchased | — | — | — | — | (—) (1) | (2) | — (1) | — (2) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 1 | $ 13 | — (1) | $ 4 |
AllianzGI Global Dynamic Allocation Fund | AllianzGI Global Sustainability Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 140 | $ 2,397 | 22 | $ 418 | 106 | $ 2,495 | 62 | $ 1,167 | |||||||
Reinvestment of distributions | 27 | 409 | 10 | 177 | 4 | 80 | 1 | 27 | |||||||
Shares repurchased | (37) | (647) | (47) | (815) | (14) | (341) | (31) | (594) | |||||||
Net Increase / (Decrease) | 130 | $ 2,159 | (15) | $ (220) | 96 | $ 2,234 | 32 | $ 600 | |||||||
Class C | |||||||||||||||
Shares sold | 29 | $ 500 | 7 | $ 130 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 9 | 143 | 4 | 64 | — | — | — | — | |||||||
Shares repurchased | (12) | (203) | (13) | (236) | — | — | — | — | |||||||
Net Increase / (Decrease) | 26 | $ 440 | (2) | $ (42) | — | $ — | — | $ — | |||||||
Class R* | |||||||||||||||
Shares sold | — (1) | $ —(2) | — (1) | $ 9 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | — (1) | 7 | 1 | 11 | — | — | — | — | |||||||
Shares repurchased | (2) | (75) | (5) | (89) | — | — | — | — | |||||||
Net Increase / (Decrease) | (2) | $ (68) | (4) | $ (69) | — | $ — | — | $ — | |||||||
Class P | |||||||||||||||
Shares sold | 902 | $ 16,799 | — (1) | $ —(2) | 433 | $ 9,715 | 739 | $ 14,120 | |||||||
Reinvestment of distributions | 1 | 19 | — (1) | 5 | 45 | 1,008 | 25 | 491 | |||||||
Shares repurchased | (4) | (78) | (597) | (11,737) | (1,607) | (36,816) | (600) | (11,854) | |||||||
Net Increase / (Decrease) | 899 | $ 16,740 | (597) | $ (11,732) | (1,129) | $ (26,093) | 164 | $ 2,757 | |||||||
Institutional Class | |||||||||||||||
Shares sold | 69 | $ 1,217 | 172 | $ 3,130 | 395 | $ 9,491 | 8,161 | $ 155,934 | |||||||
Reinvestment of distributions | 212 | 3,318 | 54 | 1,011 | 177 | 4,085 | 128 | 2,565 | |||||||
Shares repurchased | (172) | (3,013) | (59) | (1,075) | (2,304) | (55,986) | (2,297) | (47,936) | |||||||
Net Increase / (Decrease) | 109 | $ 1,522 | 167 | $ 3,066 | (1,732) | $ (42,410) | 5,992 | $ 110,563 | |||||||
Class R6 | |||||||||||||||
Shares sold | 76 | $ 1,274 | 560 | $ 10,326 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 545 | 8,451 | 650 | 11,996 | — | — | — | — | |||||||
Shares repurchased | (1,010) | (18,029) | (6,193) | (116,363) | — | — | — | — | |||||||
Net Increase / (Decrease) | (389) | $ (8,304) | (4,983) | $ (94,041) | — | $ — | — | $ — | |||||||
Administrative Class | |||||||||||||||
Reinvestment of distributions | — (1) | $ 7 | — (1) | $ 2 | — | $ — | — | $ — | |||||||
Net Increase / (Decrease) | — (1) | $ 7 | — (1) | $ 2 | — | $ — | — | $ — |
AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 458 | $ 4,003 | 427 | $ 3,690 | 41 | $ 1,673 | 14 | $ 463 | |||||||
Reinvestment of distributions | 107 | 943 | 127 | 1,077 | 1 | 43 | 2 | 66 | |||||||
Shares repurchased | (664) | (5,803) | (1,165) | (10,073) | (31) | (1,258) | (61) | (1,973) | |||||||
Net Increase / (Decrease) | (99) | $ (857) | (611) | $ (5,306) | 11 | $ 458 | (45) | $ (1,444) |
AllianzGI High Yield Bond Fund | AllianzGI International Small-Cap Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class C | |||||||||||||||
Shares sold | 12 | $ 100 | 72 | $ 609 | — (1) | $ 5 | — (1) | $ 7 | |||||||
Reinvestment of distributions | 14 | 123 | 20 | 167 | — (1) | 5 | — (1) | 1 | |||||||
Shares repurchased | (237) | (2,084) | (177) | (1,534) | (13) | (505) | (10) | (304) | |||||||
Net Increase / (Decrease) | (211) | $ (1,861) | (85) | $ (758) | (13) | $ (495) | (10) | $ (296) | |||||||
Class R* | |||||||||||||||
Shares sold | 21 | $ 385 | 99 | $ 793 | 5 | $ 182 | 6 | $ 181 | |||||||
Reinvestment of distributions | 1 | 9 | 3 | 26 | — (1) | 12 | 1 | 20 | |||||||
Shares repurchased | (86) | (921) | (115) | (932) | (32) | (1,226) | (15) | (407) | |||||||
Net Increase / (Decrease) | (64) | $ (527) | (13) | $ (113) | (27) | $ (1,032) | (8) | $ (206) | |||||||
Class P | |||||||||||||||
Shares sold | 154 | $ 1,291 | 350 | $ 2,858 | 11 | $ 449 | 19 | $ 581 | |||||||
Reinvestment of distributions | 39 | 323 | 73 | 595 | 3 | 125 | 6 | 221 | |||||||
Shares repurchased | (965) | (8,040) | (583) | (4,727) | (67) | (2,752) | (330) | (10,375) | |||||||
Net Increase / (Decrease) | (772) | $ (6,426) | (160) | $ (1,274) | (53) | $ (2,178) | (305) | $ (9,573) | |||||||
Institutional Class | |||||||||||||||
Shares sold | 755 | $ 6,287 | 3,085 | $ 25,394 | 131 | $ 5,782 | 78 | $ 2,458 | |||||||
Reinvestment of distributions | 288 | 2,421 | 487 | 3,938 | 12 | 470 | 16 | 569 | |||||||
Shares repurchased | (2,526) | (21,164) | (6,152) | (50,574) | (369) | (16,219) | (413) | (14,070) | |||||||
Net Increase / (Decrease) | (1,483) | $ (12,456) | (2,580) | $ (21,242) | (226) | $ (9,967) | (319) | $ (11,043) | |||||||
Class R6 | |||||||||||||||
Shares sold | — | $ — | — | $ — | 188 | $ 7,870 | 361 | $ 11,900 | |||||||
Reinvestment of distributions | — | — | — | — | 11 | 431 | 20 | 690 | |||||||
Shares repurchased | — | — | — | — | (307) | (12,744) | (397) | (12,984) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | (108) | $ (4,443) | (16) | $ (394) | |||||||
Administrative Class | |||||||||||||||
Shares sold | 9 | $ 79 | 1 | $ 4 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 1 | 5 | — (1) | 1 | — | — | — | — | |||||||
Shares repurchased | (—) (1) | (1) | — (1) | (2) | — | — | — | — | |||||||
Net Increase / (Decrease) | 10 | $ 83 | 1 | $ 3 | — | $ — | — | $ — |
AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | — | $ — | — | $ — | 3,905 | $ 57,197 | 5,584 | $ 79,620 | |||||||
Reinvestment of distributions | — | — | — | — | 515 | 7,488 | 396 | 5,521 | |||||||
Shares repurchased | — | — | — | — | (4,217) | (61,645) | (5,521) | (75,975) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 203 | $ 3,040 | 459 | $ 9,166 | |||||||
Class C | |||||||||||||||
Shares sold | — | $ — | — | $ — | 833 | $ 12,143 | 1,834 | $ 26,112 | |||||||
Reinvestment of distributions | — | — | — | — | 289 | 4,205 | 292 | 4,077 | |||||||
Shares repurchased | — | — | — | — | (2,354) | (34,436) | (3,641) | (50,733) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | (1,232) | $ (18,088) | (1,515) | $ (20,544) |
AllianzGI Preferred Securities and Income Fund | AllianzGI Short Duration High Income Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class P | |||||||||||||||
Shares sold | — | $ — | — | $ — | 3,929 | $ 57,210 | 69,045 | $ 992,957 | |||||||
Reinvestment of distributions | — (1) | 1 | — (1) | 1 | 789 | 11,420 | 1,519 | 21,456 | |||||||
Shares repurchased | — | — | — | — | (6,711) | (96,847) | (86,028) | (1,196,630) | |||||||
Net Increase / (Decrease) | — (1) | $ 1 | — (1) | $ 1 | (1,993) | $ (28,217) | (15,464) | $ (182,217) | |||||||
Institutional Class | |||||||||||||||
Shares sold | 134 | $ 2,161 | 851 | $ 12,388 | 6,818 | $ 99,100 | 14,160 | $ 199,833 | |||||||
Reinvestment of distributions | 23 | 363 | 20 | 290 | 1,199 | 17,303 | 1,287 | 17,827 | |||||||
Shares repurchased | (255) | (4,016) | (545) | (8,319) | (11,210) | (162,053) | (21,664) | (294,426) | |||||||
Net Increase / (Decrease) | (98) | $ (1,492) | 326 | $ 4,359 | (3,193) | $ (45,650) | (6,217) | $ (76,766) | |||||||
Class R6 | |||||||||||||||
Shares sold | 157 | $ 2,500 | 409 | $ 6,297 | 1,142 | $ 16,434 | 2,854 | $ 38,291 | |||||||
Reinvestment of distributions | 54 | 854 | 75 | 1,119 | 111 | 1,606 | 154 | 2,118 | |||||||
Shares repurchased | (426) | (6,599) | (209) | (3,158) | (2,224) | (32,132) | (3,281) | (44,779) | |||||||
Net Increase / (Decrease) | (215) | $ (3,245) | 275 | $ 4,258 | (971) | $ (14,092) | (273) | $ (4,370) |
AllianzGI Water Fund | NFJ Emerging Markets Value Fund | ||||||||||||||
Year Ended September 30, 2021 | Year Ended September 30, 2020 | Year Ended September 30, 2021 | Year Ended September 30, 2020 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 3,288 | $ 70,114 | 3,111 | $ 52,001 | 149 | $ 3,152 | 320 | $ 5,098 | |||||||
Reinvestment of distributions | 148 | 2,885 | 277 | 4,678 | 8 | 156 | 10 | 163 | |||||||
Shares repurchased | (2,044) | (42,810) | (2,903) | (46,930) | (207) | (4,316) | (431) | (6,651) | |||||||
Net Increase / (Decrease) | 1,392 | $ 30,189 | 485 | $ 9,749 | (50) | $ (1,008) | (101) | $ (1,390) | |||||||
Class C | |||||||||||||||
Shares sold | 625 | $ 12,587 | 423 | $ 6,789 | 5 | $ 98 | 2 | $ 30 | |||||||
Reinvestment of distributions | 48 | 889 | 90 | 1,443 | — (1) | 1 | — (1) | 6 | |||||||
Shares repurchased | (885) | (17,878) | (1,574) | (24,807) | (16) | (321) | (11) | (179) | |||||||
Net Increase / (Decrease) | (212) | $ (4,402) | (1,061) | $ (16,575) | (11) | $ (222) | (9) | $ (143) | |||||||
Class P | |||||||||||||||
Shares sold | 3,860 | $ 82,828 | 3,910 | $ 63,391 | 250 | $ 5,327 | 364 | $ 5,921 | |||||||
Reinvestment of distributions | 170 | 3,301 | 258 | 4,359 | 6 | 129 | 4 | 66 | |||||||
Shares repurchased | (2,607) | (55,162) | (3,425) | (54,724) | (132) | (2,754) | (100) | (1,631) | |||||||
Net Increase / (Decrease) | 1,423 | $ 30,967 | 743 | $ 13,026 | 124 | $ 2,702 | 268 | $ 4,356 | |||||||
Institutional Class | |||||||||||||||
Shares sold | 5,872 | $ 122,088 | 5,087 | $ 81,466 | 897 | $ 18,893 | 2,327 | $ 36,701 | |||||||
Reinvestment of distributions | 236 | 4,506 | 328 | 5,435 | 88 | 1,795 | 83 | 1,388 | |||||||
Shares repurchased | (3,158) | (65,115) | (3,134) | (49,299) | (1,274) | (26,547) | (1,837) | (29,433) | |||||||
Net Increase / (Decrease) | 2,950 | $ 61,479 | 2,281 | $ 37,602 | (289) | $ (5,859) | 573 | $ 8,656 |
* | All Class R shares were converted into Class A shares. These transaction are included as subscriptions of Class A shares and redemptions of Class R shares in the tables above. |
(1) | Amount is less than 500 shares. |
(2) | Amount is less than $500. |
% of Shares Outstanding | Number of Accounts | ||
AllianzGI Convertible Fund | 16% | 1 | |
AllianzGI Core Plus Bond Fund | 92 | 1 * | |
AllianzGI Emerging Markets Consumer Fund | 97 | 2 | |
AllianzGI Global Allocation Fund | 40 | 2 | |
AllianzGI Global Dynamic Allocation Fund | 80 | 3 | |
AllianzGI Global Sustainability Fund | 85 | 2 * | |
AllianzGI High Yield Bond Fund | 64 | 4 * | |
AllianzGI International Small-Cap Fund | 70 | 2 | |
AllianzGI Preferred Securities and Income Fund | 81 | 3 * | |
AllianzGI Short Duration High Income Fund | 11 | 1 | |
NFJ Emerging Markets Value Fund | 71 | 1 |
* | Includes affiliated shareholder account(s). |
Fund | Sector | Percentage of Total Investments | ||
AllianzGI Preferred Securities and Income Fund | Financials | 42% | ||
AllianzGI Water Fund | Machinery | 36% | ||
NFJ Emerging Markets Value Fund | Information Technology | 32% |
Fund | Investment | Date of Acquisition | Cost | Value | Percentage of Net Assets | |||||
AllianzGI High Yield Bond Fund | Affinion Group Holdings | 11/04/2015 | $ 770 | $ — | 0.0% | |||||
LiveStyle, Inc., Series B | 9/28/2016 | 1,857 | 1,894 | 2.7 | ||||||
LiveStyle, Inc. | 12/01/2016 | — (a) | — (a) | 0.0 | ||||||
AllianzGI Short Duration High Income Fund | Cloud Peak Energy, Inc. | 8/14/2020 | — | — | 0.0 |
Fund | Interest Incurred on Borrowing | Average Dollar Amount of Borrowing | Weighted Average Interest Rate on Borrowing | Days Loan was Open | ||||
AllainzGI Global Dynamic Allocation Fund | $ 1 | $9,600 | 1.35% | 2 | ||||
AllainzGI International Small-Cap Fund | — (1) | 4,000 | 1.34 | 2 |
(1) | Amount is less than $500. |
Fund | Federal Tax Cost | Unrealized Appreciation | Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
AllianzGI Convertible Fund | $ 2,659,688 | $ 422,446 | $ (45,237) | $ 377,209 | ||||
AllianzGI Core Plus Bond Fund | 58,295 | 798 | (413) | 385 | ||||
AllianzGI Emerging Markets Consumer Fund | 3,303 | 1,177 | (524) | 653 | ||||
AllianzGI Global Allocation Fund | 245,986 | 32,233 | (4,021) | 28,212 | ||||
AllianzGI Global Dynamic Allocation Fund | 50,280 | 6,090 | (1,796) | 4,294 | ||||
AllianzGI Global Sustainability Fund | 88,860 | 38,224 | (1,603) | 36,621 | ||||
AllianzGI High Yield Bond Fund | 72,682 | 3,836 | (4,812) | (976) | ||||
AllianzGI International Small-Cap Fund | 59,031 | 21,407 | (3,750) | 17,657 | ||||
AllianzGI Preferred Securities and Income Fund | 22,167 | 1,037 | (24) | 1,013 | ||||
AllianzGI Short Duration High Income Fund | 767,936 | 13,427 | (33,244) | (19,817) | ||||
AllianzGI Water Fund | 696,408 | 329,860 | (17,196) | 312,664 | ||||
NFJ Emerging Markets Value Fund | 128,230 | 36,140 | (14,169) | 21,971 |
Fund | Short-Term | Long-Term | ||
AllianzGI High Yield Bond Fund | $ 6,364 | $ 28,730 | ||
AllianzGI Short Duration High Income Fund | 34,064 | 100,108 | ||
NFJ Emerging Markets Value Fund | 7,819 | — |
Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Post-October Capital Loss Deferred | Capital Loss Deferred | ||||
AllianzGI Convertible Fund | $274,974 | $212,816 | $ — | $ — | |||
AllianzGI Core Plus Bond Fund | 289 | — | — | — | |||
AllianzGI Emerging Markets Consumer Fund | 138 | 3,773 | — | — | |||
AllianzGI Global Allocation Fund | 8,310 | 10,369 | — | — | |||
AllianzGI Global Dynamic Allocation Fund | 5,498 | 2,284 | — | — | |||
AllianzGI Global Sustainability Fund | 4,434 | 18,069 | — | — | |||
AllianzGI High Yield Bond Fund | 142 | — | 2,777 | 35,094 | |||
AllianzGI International Small-Cap Fund | 2,037 | 9,748 | — | — | |||
AllianzGI Preferred Securities and Income Fund | 933 | 488 | — | — | |||
AllianzGI Short Duration High Income Fund | 2,635 | — | 5,967 | 134,172 | |||
AllianzGI Water Fund | 16,910 | 66,006 | — | — | |||
NFJ Emerging Markets Value Fund | 71 | — | — | 7,819 |
Ordinary Income | Long-Term Capital Gains | Total | |||
AllianzGI Convertible Fund | |||||
9/30/21 | $ 130,806 | $ 42,625 | $173,431 | ||
9/30/20 | 19,171 | 21,397 | 40,568 | ||
AllianzGI Core Plus Bond Fund | |||||
9/30/21 | 4,686 | 354 | 5,040 | ||
9/30/20 | 3,560 | 85 | 3,645 | ||
AllianzGI Emerging Markets Consumer Fund | |||||
9/30/21 | 527 | — | 527 | ||
9/30/20 | 438 | — | 438 | ||
AllianzGI Global Allocation Fund | |||||
9/30/21 | 14,303 | 6,289 | 20,592 | ||
9/30/20 | 9,517 | 20,724 | 30,241 | ||
AllianzGI Global Dynamic Allocation Fund | |||||
9/30/21 | 8,312 | 4,043 | 12,355 | ||
9/30/20 | 5,941 | 7,327 | 13,268 | ||
AllianzGI Global Sustainability Fund | |||||
9/30/21 | 4,631 | 560 | 5,191 | ||
9/30/20 | 440 | 2,643 | 3,083 | ||
AllianzGI High Yield Bond Fund | |||||
9/30/21 | 3,906 | — | 3,906 | ||
9/30/20 | 5,956 | — | 5,956 | ||
AllianzGI International Small-Cap Fund | |||||
9/30/21 | 843 | 276 | 1,119 | ||
9/30/20 | 1,632 | — | 1,632 | ||
AllianzGI Preferred Securities and Income Fund | |||||
9/30/21 | 1,123 | 97 | 1,220 | ||
9/30/20 | 1,209 | 202 | 1,411 | ||
AllianzGI Short Duration High Income Fund | |||||
9/30/21 | 46,999 | — | 46,999 | ||
9/30/20 | 56,024 | — | 56,024 | ||
AllianzGI Water Fund | |||||
9/30/21 | 5,137 | 8,856 | 13,993 | ||
9/30/20 | 4,315 | 15,290 | 19,605 | ||
NFJ Emerging Markets Value Fund | |||||
9/30/21 | 2,083 | — | 2,083 | ||
9/30/20 | 1,625 | — | 1,625 |
Dynamic Allocation Fund, Virtus AllianzGI Global Sustainability Fund, Virtus AllianzGI High Yield Bond Fund, Virtus AllianzGI
International Small-Cap Fund, Virtus AllianzGI Preferred Securities and Income Fund, Virtus AllianzGI Short Duration High Income Fund, Virtus AllianzGI Water Fund and Virtus NFJ Emerging Markets Value Fund
AllianzGI Short Duration High Income Fund, Virtus AllianzGI Water Fund and Virtus NFJ Emerging Markets Value Fund (twelve of the Funds constituting Virtus Strategy Trust, hereafter collectively referred to as the “Funds”) as of September 30, 2021, the related
statements of operations for the year ended September 30, 2021, the statements of changes in net assets for each of the two years in the period ended September 30, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all
material respects, the financial position of each of the Funds as of September 30, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended September 30, 2021 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
misstatement, whether due to error or fraud.
procedures included confirmation of securities owned as of September 30, 2021 by correspondence with the custodian, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
Philadelphia, Pennsylvania
November 26, 2021
Qualified Dividend Income % (non-corporate shareholder) | Dividend Received Deduction % (corporate shareholders) | Long-Term Capital Gain Distributions ($) | |||
AllianzGI Convertible Fund | 5.75 % | 5.29 % | $ 255,441 | ||
AllianzGI Core Plus Bond Fund | 1.12 | 1.12 | 354 | ||
AllianzGI Emerging Markets Consumer Fund | 100.00 | 6.07 | 7,433 | ||
AllianzGI Global Allocation Fund | 22.11 | 2.21 | 16,658 | ||
AllianzGI Global Dynamic Allocation Fund | 6.30 | 1.95 | 6,327 | ||
AllianzGI Global Sustainability Fund | 47.91 | 20.14 | 18,629 | ||
AllianzGI International Small-Cap Fund | 65.80 | — | 10,024 | ||
AllianzGI Preferred Securities and Income Fund | 27.93 | 26.52 | 585 | ||
AllianzGI Water Fund | 95.19 | 23.24 | 74,862 | ||
NFJ Emerging Markets Value Fund | 100.00 | 11.60 | — |
Foreign Source Income Recognized | Foreign Taxes Paid on Foreign Source Income | ||
AllianzGI International Small-Cap Fund | $ 1,678 | $ 177 | |
NFJ Emerging Markets Value Fund | 2,376 | 304 |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
Burke, Donald C. YOB: 1960 Served Since: 2021 99 Portfolios | Retired. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Mutual Fund Family (55 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2014), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); Director, Avista Corp. (energy company) (since 2011); Trustee, Goldman Sachs Fund Complex (2010 to 2014); and Director, BlackRock Luxembourg and Cayman Funds (2006 to 2010). |
Cogan, Sarah E. YOB: 1956 Served Since: 2019 103 Portfolios | Retired Partner, Simpson Thacher & Bartlett LLP (“STB”) (law firm) (since 2018); Director, Girl Scouts of Greater New York (since 2016); Trustee, Natural Resources Defense Council, Inc. (since 2013); and formerly, Partner, STB (1989 to 2018). | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (since 2021), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (55 portfolios), and Virtus Variable Insurance Trust (8 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2019), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Trustee (since 2019), Virtus AllianzGI Closed-End Funds (7 portfolios); Trustee (since 2019), PIMCO California Municipal Income Fund, PIMCO California Municipal Income Fund II, PIMCO California Municipal Income Fund III, PIMCO Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund, PIMCO New York Municipal Income Fund II, PIMCO New York Municipal Income Fund III, PIMCO Energy and Tactical Credit Opportunities Fund, PCM Fund, Inc, PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Dynamic Credit and Mortgage Income Fund, PIMCO Dynamic Income Fund, PIMCO Global StocksPLUS® & Income Fund, PIMCO High Income Fund, PIMCO Income Opportunity Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Strategic Income Fund, Inc., PIMCO Flexible Credit Income Fund and PIMCO Flexible Municipal Income Fund; and Trustee (since 2019), PIMCO Managed Accounts Trust (5 portfolios). |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
DeCotis, Deborah A. YOB: 1952 Served Since: 2011 103 Portfolios | Advisory Director, Morgan Stanley & Co., Inc. (since 1996); Member, Circle Financial Group (since 2009); Member, Council on Foreign Relations (since 2013); Trustee, Smith College (since 2017); and Director, Watford Re (since 2017). Formerly, Co-Chair Special Projects Committee, Memorial Sloan Kettering (2005 to 2015); Trustee, Stanford University (2010 to 2015); and Principal, LaLoop LLC, a retail accessories company (1999 to 2014). | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (since 2021), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (55 portfolios), and Virtus Variable Insurance Trust (8 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2020), PIMCO Dynamic Income Opportunities Fund; Trustee (since 2019), PIMCO Energy and Tactical Credit Opportunities Fund and Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund; Trustee (since 2018), PIMCO Flexible Municipal Income Fund Trustee (since 2017), PIMCO Flexible Credit Income Fund and Virtus AllianzGI Convertible & Income 2024 Target Term Fund; Trustee (since 2015), Virtus AllianzGI Diversified Income & Convertible Fund; Trustee (since 2014), Virtus Investment Trust (13 portfolios); Trustee (since 2013), PIMCO Dynamic Credit and Mortgage Income Fund; Trustee (since 2012), PIMCO Dynamic Income Fund; Trustee (since 2011), Virtus Strategy Trust (12 portfolios); Trustee (since 2011), PIMCO California Municipal Income Fund II, PIMCO California Municipal Income Fund III, PIMCO Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund, PIMCO New York Municipal Income Fund II, PIMCO New York Municipal Income Fund III, PCM Fund, Inc., PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Global StocksPLUS® & Income Fund, PIMCO High Income Fund, PIMCO Income Opportunity Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Strategic Income Fund, Inc., PIMCO Managed Accounts Trust (5 portfolios); and Trustee (since 2011), Virtus AllianzGI Convertible & Income Fund, Virtus AllianzGI Convertible & Income Fund II, Virtus AllianzGI Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund. |
Drummond, F. Ford YOB: 1962 Served Since: 2014 103 Portfolios | Owner/Operator (since 1998), Drummond Ranch; formerly Board Member (2006 to 2020) and Chairman (2016 to 2018), Oklahoma Water Resources Board; Director (1998 to 2008), The Cleveland Bank; and General Counsel (1998 to 2008), BMIHealth Plans (benefits administration). | Trustee (since 2021), The Merger Fund®; Trustee (since 2021), The Merger Fund® VL; Trustee (since 2021), Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (since 2021), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (55 portfolios), and Virtus Variable Insurance Trust (8 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2019), Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund; Trustee (since 2017), Virtus AllianzGI Convertible & Income 2024 Target Term Fund; Trustee (since 2015), Virtus AllianzGI Convertible & Income Fund, Virtus AllianzGI Convertible & Income Fund II, Virtus AllianzGI Diversified Income & Convertible Fund, Virtus Dividend, Interest & Premium Strategy Fund and Virtus AllianzGI Equity & Convertible Income Fund; Trustee (since 2014), Virtus Strategy Trust (12 portfolios); Director (since 2011), Bancfirst Corporation; and Trustee (since 2006), Virtus Investment Trust (13 portfolios). |
Harris, Sidney E. YOB: 1949 Served Since: 2021 96 Portfolios | Private Investor (since 2021); Professor and Dean Emeritus (2015 to 2021), Professor (1997 to 2014), Dean (1997 to 2004), J. Mack Robinson College of Business, Georgia State University. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2019), Mutual Fund Directors Forum; Trustee (since 2017), Virtus Mutual Fund Family (55 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Trustee (2013 to 2020) and Honorary Trustee (since 2020), KIPP Metro Atlanta; Director (1999 to 2019), Total System Services, Inc.; Trustee (2004 to 2017), RidgeWorth Funds; Chairman (2012 to 2017), International University of the Grand Bassam Foundation; Trustee (since 2012), International University of the Grand Bassam Foundation; and Trustee (2011 to 2015), Genspring Family Offices, LLC. |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
Mallin, John R. YOB: 1950 Served Since: 2021 96 Portfolios | Partner/Attorney (since 2003), McCarter & English LLP (law firm) Real Property Practice Group; and Member (since 2014), Counselors of Real Estate. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Mutual Fund Family (55 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2019), 1892 Club, Inc. (non-profit); Director (2013 to 2020), Horizons, Inc. (non-profit); and Trustee (since 1999), Virtus Variable Insurance Trust (8 portfolios). |
McDaniel, Connie D. YOB: 1958 Served Since: 2021 96 Portfolios | Retired (since 2013). Vice President, Chief of Internal Audit, Corporate Audit Department (2009 to 2013); Vice President Global Finance Transformation (2007 to 2009); Vice President and Controller (1999 to 2007), The Coca-Cola Company. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Director (since 2019), Global Payments Inc.; Trustee (since 2017), Virtus Mutual Fund Family (55 portfolios), Virtus Variable Insurance Trust (8 portfolios), and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2021), North Florida Land Trust; Director (2014 to 2019), Total System Services, Inc.; Member (since 2011) and Chair (2014 to 2016), Georgia State University, Robinson College of Business Board of Advisors; and Trustee (2005 to 2017), RidgeWorth Funds. |
McLoughlin, Philip YOB: 1946 Served Since: 2021 106 Portfolios | Retired. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Trustee (since 2021), Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund, Virtus AllianzGI Convertible & Income Fund II, Virtus AllianzGI Diversified Income & Convertible, Virtus AllianzGI Equity & Convertible Income Fund and Virtus Dividend, Interest & Premium Strategy Fund; Advisory Board Member (since 2021), Virtus AllianzGI Convertible & Income 2024 Target Term Fund and Virtus AllianzGI Convertible & Income Fund; Director and Chairman (since 2016), Virtus Total Return Fund Inc.; Director and Chairman (2016 to 2019), the former Virtus Total Return Fund Inc.; Director and Chairman (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee and Chairman (since 2013), Virtus Alternative Solutions Trust (2 portfolios); Trustee and Chairman (since 2011), Virtus Global Multi-Sector Income Fund; Chairman and Trustee (since 2003), Virtus Variable Insurance Trust (8 portfolios); Director (since 1995), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); Director (1991 to 2019) and Chairman (2010 to 2019), Lazard World Trust Fund (closed-end investment firm in Luxembourg); and Trustee (since 1989) and Chairman (since 2002), Virtus Mutual Fund Family (55 portfolios). |
McNamara, Geraldine M. YOB: 1951 Served Since: 2021 99 Portfolios | Retired. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc. and Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Alternative Solutions Trust (2 portfolios); Trustee (since 2015), Virtus Variable Insurance Trust (8 portfolios); Director (since 2003), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); and Trustee (since 2001), Virtus Mutual Fund Family (55 portfolios). |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
Walton, R. Keith YOB: 1964 Served Since: 2021 96 Portfolios | Managing Director (2020 to 2021), Lafayette Square Holding Company LLC; Venture and Operating Partner (since 2020), Plexo Capital, LLC; Venture Partner (since 2019) and Senior Adviser (2018 to 2019), Plexo, LLC; Senior Adviser (2018 to 2019), Vatic Labs, LLC; Executive Vice President, Strategy (2017 to 2019), Zero Mass Water, LLC; Vice President, Strategy (2013 to 2017), Arizona State University; Partner (since 2006), Global Infrastructure Partners. | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Trustee (since 2020) Virtus Alternative Solutions Trust (2 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Mutual Fund Family (55 portfolios); Director (since 2017), certain funds advised by Bessemer Investment Management LLC; Director (2016 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2016), Virtus Global Multi-Sector Income Fund; Director (2006 to 2019), Systematica Investments Limited Funds; Director (2006 to 2017), BlueCrest Capital Management Funds; Trustee (2014 to 2017), AZ Service; Director (since 2004), Virtus Total Return Fund Inc.; and Director (2004 to 2019), the former Virtus Total Return Fund Inc. |
Zino, Brian T. YOB: 1952 Served Since: 2021 103 Portfolios | Retired. Various roles (1982 to 2009), J. & W. Seligman & Co. Incorporated, including President (1994 to 2009). | Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (since 2021), Virtus AllianzGI Closed-End Funds (7 portfolios); Trustee (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Trustee (since 2020), Virtus Alternative Solutions Trust (2 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Mutual Fund Family (55 portfolios); Director (2016 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2016), Virtus Global Multi-Sector Income Fund; Director (since 2014), Virtus Total Return Fund Inc.; Director (2014 to 2019), the former Virtus Total Return Fund Inc.; Trustee (since 2011), Bentley University; Director (1986 to 2009) and President (1994 to 2009), J&W Seligman Co. Inc.; Director (1998 to 2009), Chairman (2002 to 2004) and Vice Chairman (2000 to 2002), ICI Mutual Insurance Company; Member, Board of Governors of ICI (1998 to 2008). |
Name, Year of Birth, Length of Time Served and Number of Funds Overseen | Principal Occupation(s) During Past 5 Years | Principal Occupation(s) During Past 5 Years and Other Directorships Held by Trustee |
Aylward, George R.* Trustee and President YOB: 1964 Served Since: 2021 108 Portfolios | Director, President and Chief Executive Officer (since 2008), Virtus Investment Partners, Inc. and/or certain of its subsidiaries, and various senior officer positions with Virtus affiliates (since 2005). | Trustee and President (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Trustee and President (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Trustee, President and Chief Executive Officer (since 2021), Virtus AllianzGI Closed-End Funds (7 portfolios); and Chairman and Trustee (since 2015), Virtus ETF Trust II (5 portfolios); Director, President and Chief Executive Officer (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee and President (since 2013), Virtus Alternative Solutions Trust (2 portfolios); Director (since 2013), Virtus Global Funds, PLC (5 portfolios); Trustee (since 2012) and President (since 2010), Virtus Variable Insurance Trust (8 portfolios); Trustee, President and Chief Executive Officer (since 2011), Virtus Global Multi-Sector Income Fund; Trustee and President (since 2006) and Executive Vice President (2004 to 2006), Virtus Mutual Fund Family (55 portfolios); Director, President and Chief Executive Officer (since 2006), Virtus Total Return Fund Inc.; and Director, President and Chief Executive Officer (2006 to 2019), the former Virtus Total Return Fund Inc. |
Name, Year of Birth, Length of Time Served, and Number of Portfolios in Fund Complex Overseen | Principal Occupation(s) During Past 5 Years | Other Held by Trustee During Past 5 Years |
Moyer, William R. YOB: 1944 Served Since: 2020 96 Portfolios | Private investor (since 2004); and Financial and Operations Principal (2006 to 2017), Newcastle Distributors LLC (broker dealer). | Advisory Board Member (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (since 2021), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (12 portfolios); Advisory Board Member (since 2020), Virtus Variable Insurance Trust (8 portfolios) and Virtus Mutual Fund Family (55 portfolios); Advisory Board Member (since 2020) and Director (2016 to 2019), Virtus Total Return Fund Inc.; Director (2016 to 2019), the former Virtus Total Return Fund Inc.; Advisory Board Member (2020 to 2021) and Director (2014 to 2019), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Advisory Board Member (since 2020) and Trustee (2011 to 2019), Virtus Global Multi-Sector Income Fund; Advisory Board Member (since 2020) and Trustee (2013 to 2016), Virtus Alternative Solutions Trust (2 portfolios). |
Name, Address and Year of Birth | Principal Occupation(s) During Past 5 Years | |
Batchelar, Peter J. YOB: 1970 | Senior Vice President (since 2021). | Senior Vice President, Product Development (since 2017), Vice President, Product Development (2008 to 2016), and various officer positions (since 2008), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Senior Vice President (since 2021), Virtus Investment Trust and Virtus Strategy Trust; Senior Vice President (since 2021), AllianzGI Closed-End Funds; Senior Vice President (since 2017) and Vice President (2008 to 2016), Virtus Mutual Fund Family; Senior Vice President (since 2017) and Vice President (2010 to 2016), Virtus Variable Insurance Trust; Senior Vice President (since 2017) and Vice President (2013 to 2016), Virtus Alternative Solutions Trust; Senior Vice President (2017 to 2021) and Vice President (2016 to 2017), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Senior Vice President (since 2017) and Vice President (2016 to 2017), Virtus Total Return Fund Inc. and Virtus Global Multi-Sector Income Fund; and Senior Vice President (2017 to 2019) and Vice President (2016 to 2017), the former Virtus Total Return Fund Inc. |
Bradley, W. Patrick YOB: 1972 | Executive Vice President, Chief Financial Officer and Treasurer (since 2021). | Executive Vice President, Fund Services (since 2016), Senior Vice President, Fund Services (2010 to 2016), and various officer positions (since 2006), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Executive Vice President, Chief Financial Officer and Treasurer (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Executive Vice President, Chief Financial Officer and Treasurer (since 2021), Virtus Investment Trust and Virtus Strategy Trust; Executive Vice President, Chief Financial Officer and Treasurer (since 2021), Virtus AllianzGI Closed-End Funds; Director (since 2019), Virtus Global Funds ICAV; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2004), Virtus Variable Insurance Trust; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2006), Virtus Mutual Fund Family; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2012 to 2013) and Chief Financial Officer and Treasurer (since 2010), Virtus Total Return Fund Inc.; Executive Vice President (2016 to 2019), Senior Vice President (2013 to 2016), Vice President (2012 to 2013), Chief Financial Officer and Treasurer (since 2010), the former Virtus Total Return Fund Inc.; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2011), Virtus Global Multi-Sector Income Fund; Executive Vice President ( 2016 to 2021), Senior Vice President (2014 to 2016), Chief Financial Officer and Treasurer (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), and Chief Financial Officer and Treasurer (since 2013), Virtus Alternative Solutions Trust; Director (since 2013), Virtus Global Funds, PLC; and Vice President and Assistant Treasurer (since 2011), Duff & Phelps Utility and Infrastructure Fund Inc. |
Name, Address and Year of Birth | Principal Occupation(s) During Past 5 Years | |
Carr, Kevin J. YOB: 1954 | Senior Vice President, Interim Chief Legal Officer and Assistant Secretary (since 2021). | Vice President and Senior Counsel (2017 to Present), Senior Vice President (2009 to 2017), Vice President, Counsel and Secretary (2008 to 2009), and various officer positions (since 2005), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President, Interim Chief Legal Officer and Assistant Secretary (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Senior Vice President, Interim Chief Legal Officer and Assistant Secretary (since 2021), Virtus Investment Trust and Virtus Strategy Trust; Assistant Secretary, (since 2021), Virtus AllianzGI Closed-End Funds; Senior Vice President (since 2013), Vice President (2005 to 2013), Chief Legal Officer, Counsel and Secretary (since 2005), Virtus Mutual Fund Family; Interim Chief Legal Officer (since 2021), Senior Vice President (2013 to 2014), Vice President (2012 to 2013), Secretary and Chief Legal Officer (2005 to 2013), Assistant Secretary (2013 to 2014 and since 2017), Virtus Total Return Fund Inc.; Senior Vice President (2013 to 2014), Vice President (2012 to 2013), Secretary and Chief Legal Officer (2005 to 2013) and Assistant Secretary (2013 to 2014 and 2017 to 2019), the former Virtus Total Return Fund Inc.; Interim Chief Legal Officer (since 2021), Senior Vice President (since 2017), Assistant Secretary (since 2013), Vice President, Chief Legal Officer, Counsel and Secretary (2010 to 2013), Virtus Variable Insurance Trust; Interim Chief Legal Officer (since 2021), Senior Vice President (2013 to 2014), Vice President (2011 to 2013), Assistant Secretary (since 2011), Virtus Global Multi-Sector Income Fund; Assistant Secretary (2015 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Interim Chief Legal Officer (since 2021), Senior Vice President (since 2017) and Assistant Secretary (since 2013), Virtus Alternative Solutions Trust; Secretary (since 2015), ETFis Series Trust I; and Secretary (since 2015), Virtus ETF Trust II. |
Engberg, Nancy J. YOB: 1956 | Senior Vice President and Chief Compliance Officer (since 2021). | Senior Vice President (since 2017), Vice President (2008 to 2017) and Chief Compliance Officer (2008 to 2011 and since 2016), and various officer positions (since 2003), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President and Chief Compliance Officer (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Senior Vice President and Chief Compliance Officer (since 2021), Virtus Investment Trust, Virtus Strategy Trust and Virtus AllianzGI Closed-End Funds; Senior Vice President (since 2017), Vice President (2011 to 2017) and Chief Compliance Officer (since 2011), Virtus Mutual Fund Family; Senior Vice President (since 2017), Vice President (2010 to 2017) and Chief Compliance Officer (since 2011), Virtus Variable Insurance Trust; Senior Vice President (since 2017), Vice President (2011 to 2017) and Chief Compliance Officer (since 2011), Virtus Global Multi-Sector Income Fund; Senior Vice President (since 2017), Vice President (2012 to 2017) and Chief Compliance Officer (since 2012), Virtus Total Return Fund Inc.; Senior Vice President (2017 to 2019), Vice President (2012 to 2017) and Chief Compliance Officer (2012 to 2019), the former Virtus Total Return Fund Inc.; Senior Vice President (since 2017), Vice President (2013 to 2016) and Chief Compliance Officer (since 2013), Virtus Alternative Solutions Trust; Senior Vice President (2017 to 2021), Vice President (2014 to 2017) and Chief Compliance Officer (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Chief Compliance Officer (since 2015), ETFis Series Trust I; and Chief Compliance Officer (since 2015), Virtus ETF Trust II. |
Fromm, Jennifer YOB: 1973 | Vice President, Chief Legal Officer, Counsel and Secretary (since 2021). | Vice President (since 2016) and Senior Counsel (since 2007), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Vice President, Chief Legal Officer, Counsel and Secretary (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Vice President, Chief Legal Officer, Counsel and Secretary (since 2021), Virtus Investment Trust and Virtus Strategy Trust; Vice President and Assistant Secretary (since 2021), Virtus AllianzGI Closed-End Funds; Vice President and Secretary (since 2020), DNP Select Income Fund Inc., Duff & Phelps Utility and Infrastructure Fund Inc., and DTF Tax-Free Income Inc.; Vice President, Chief Legal Officer and Secretary (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Vice President, Chief Legal Officer, Counsel and Secretary (since 2020), Virtus Total Return Fund Inc. and Virtus Global Multi-Sector Income Fund; Vice President (since 2017) and Assistant Secretary (since 2008), Virtus Mutual Funds Family; Vice President, Chief Legal Officer, and Secretary (since 2013), Virtus Variable Insurance Trust; and Vice President, Chief Legal Officer, and Secretary (since 2013), Virtus Alternative Solutions Trust. |
Name, Address and Year of Birth | Principal Occupation(s) During Past 5 Years | |
Short, Julia R. YOB: 1972 | Senior Vice President (since 2021). | Senior Vice President, Product Development (since 2017), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Senior Vice President (since 2021), Virtus Investment Trust, Virtus Strategy Trust and Virtus Closed-End Funds; Senior Vice President (2018 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Senior Vice President (since 2018), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Senior Vice President (2018 to 2019), the former Virtus Total Return Fund Inc.; Senior Vice President (since 2017), Virtus Mutual Fund Family; President and Chief Executive Officer, RidgeWorth Funds (2007 to 2017); and Managing Director, Product Manager, RidgeWorth Investments (2004 to 2017). |
Smirl, Richard W. YOB: 1967 | Executive Vice President (since 2021). | Executive Vice President, Product Management (since 2021), and Executive Vice President and Chief Operating Officer (since 2021), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Executive Vice President (since 2021), The Merger Fund®, The Merger Fund® VL and Virtus Event Opportunities Trust; Executive Vice President (since 2021), Virtus Mutual Fund Family, Virtus Investment Trust, Virtus Strategy Trust, Virtus Global Multi-Sector Income Fund, and Virtus Total Return Fund Inc.; Executive Vice President (May to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Chief Operating Officer (2018 to 2021), Russell Investments; Executive Director (Jan. to July 2018), State of Wisconsin Investment Board; and Partner and Chief Operating Officer (2004 to 2018), William Blair Investment Management. |
Statutory Prospectus and Statement of Additional Information,
each dated February 1, 2021, as supplemented
Statement of Additional Information for future reference.
Virtus AllianzGI Water Fund and Virtus NFJ Emerging Markets Value Fund, (each a “Fund”, and
together, the “Funds”), each a series of Virtus Strategy Trust
(unaudited)
Statutory Prospectus, each dated February 1, 2021, as supplemented
Fund | Class C 1 Year Return Before Taxes |
Virtus AllianzGI Convertible Fund | 54.19% |
Virtus AllianzGI Global Allocation Fund | 13.04% |
Virtus AllianzGI Global Dynamic Allocation Fund | 12.53% |
Virtus AllianzGI High Yield Bond Fund | 2.68% |
Virtus AllianzGI International Small-Cap Fund | 14.79% |
Virtus AllianzGI Short Duration High Income Fund | 5.44% |
Virtus AllianzGI Water Fund | 15.78% |
Virtus NFJ Emerging Markets Value Fund | 21.38% |
Sales Charge as a percentage of Net Amount | ||
Amount of Transaction at Offering Price | Offering Price | Invested |
$0–$49,999 | 3.75% | 3.90% |
$50,000–$99,999 | 3.50% | 3.90% |
$100,000–$249,999 | 3.25% | 3.36% |
$250,000–$499,999 | 2.25% | 2.30% |
$500,000–$999,999 | 1.75% | 1.78% |
$1,000,000-$3,000,000 | 0.00% | 0.00% |
$3,000,000+ | 0.00% | 0.00% |
each a series of Virtus Strategy Trust
(unaudited)
Trust Statutory Prospectus, each dated February 1, 2021, as supplemented
each a series of Virtus Strategy Trust
(unaudited)
Virtus AllianzGI Global Allocation Fund | Heather Bergman, Ph.D. (since 2017) Claudio Marsala (since February 2021) Carl W. Pappo, Jr., CFA (since 2019) Paul Pietranico, CFA (since 2009) Rohit Ramesh (since August 2021) |
Virtus AllianzGI Global Dynamic Allocation Fund | Mikhail Krayzler, Ph.D. (since 2020) Claudio Marsala (since 2015) Carl W. Pappo, Jr., CFA (since 2019) Paul Pietranico, CFA (since 2016) Rohit Ramesh (since August 2021) Thorsten Winkelmann (since 2020) |
a series of Virtus Strategy Trust
(unaudited)
Statutory Prospectus, each dated February 1, 2021, as supplemented
Virtus AllianzGI International Small-Cap Fund | Heinrich Ey, CFA, DVFA/CEFA (since 2016) Bjoern Mehrmann (since 2012) Koji Nakatsuka, CFA, CMA (since 2012) Andrew Neville (since 2012) Miguel Pohl, CFA (since 2018) Jasmine To, (since October 2021) Stuart Winchester, CFA (since 2020) |
and Virtus AllianzGI Short Duration High Income Fund,
each a series of Virtus Strategy Trust
(unaudited)
Statutory Prospectus and the Statement of Additional Information (“SAI”),
each dated February 1, 2021, as supplemented
Accounting Firm
Mutual Fund Services | 1-800-243-1574 |
Adviser Consulting Group | 1-800-243-4361 |
Website | Virtus.com |
The Securities and Exchange Commission has modified mailing regulations for semiannual and annual shareholder fund reports to allow mutual fund companies to send a single copy of these reports to shareholders who share the same mailing address. If you would like additional copies, please call Mutual Fund Services at 1-800-243-1574.
please contact us at 1-800-243-1574, or visit Virtus.com.
8068 | 11-21 |
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(b) | Effective October 20, 2021, the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions was amended. A copy of the currently applicable code is included as an exhibit. |
(d) | The registrant has not granted any waivers, during the period covered by this report, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of the instructions for completion of this Item. |
Item 3. Audit Committee Financial Expert.
(a)(1) | The Registrant’s Board of Trustees has determined that the Registrant has an “audit committee financial expert” serving on its Audit Committee. |
(a)(2) | As of the beginning of the period covered by the report, the Registrant’s Board of Trustees had determined that James A. Jacobson and Davey S. Scoon, both of whom served on the Trust’s Audit Oversight Committee, qualified as “audit committee financial experts” and were “independent” for purposes of this Item. On February 1, 2021, the members of the Board changed, the Audit Oversight Committee changed to the Audit Committee and its membership changed, and as a result the Registrant’s Board of Trustees reviewed the new membership to determine whether the members possess the technical attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as an “audit committee financial expert” and determined that each of Donald C. Burke, Connie D. McDaniel and Brian T. Zino possesses such attributes. Each of Messrs. Burke and Zino, and Ms. McDaniel, was an “independent” trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR as of the end of the period covered by the report. |
(a)(3) | Not applicable. |
Item 4. Principal Accountant Fees and Services.
• | Registrant may incorporate the following information by reference, if this information has been disclosed in the registrant’s definitive proxy statement or definitive information statement. The proxy statement or information statement must be filed no later than 120 days after the end of the fiscal year covered by the Annual Report. |
Audit Fees
(a) | The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for fiscal years ended September 30, 2020 and September 30, 2021 are $717,922 and $297,700, respectively. |
Audit-Related Fees
(b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item for fiscal years ended September 30, 2020 and September 30, 2021 are $0 and $93,577, respectively. Such audit-related fees include out of pocket expenses. |
Tax Fees
(c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning for fiscal years ended September 30, 2020 and September 30, 2021 are $405,000 and $68,370, respectively. |
“Tax Fees” are those primarily associated with review of the Trust’s tax provision and qualification as a regulated investment company (RIC) in connection with audits of the Trust’s financial statement, review of year-end distributions by the Fund to avoid excise tax for the Trust, periodic discussion with management on tax issues affecting the Trust, and reviewing and signing the Fund’s federal income tax returns.
All Other Fees
(d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are for fiscal years ended September 30, 2020 and September 30, 2021 are $0 and $0, respectively. |
(e)(1) | Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
The Board of Trustees of Virtus Strategy Trust (the “Fund”) has adopted policies and procedures with regard to the pre-approval of services provided by its independent auditors. Audit, audit-related and tax compliance services provided to the Fund on an annual basis require specific pre-approval by the Audit Committee. The Audit Committee must also approve other non-audit
services provided to the Fund and those non-audit services provided to the Fund’s Affiliated Service Providers that relate directly to the operations and financial reporting of the Fund. Certain of these non-audit services that the Audit Committee believes are a) consistent with the SEC’s auditor independence rules and b) routine and recurring services that will not impair the independence of the independent auditors may be approved by the Audit Committee without consideration on a specific case-by-case basis (“general pre-approval”).
The Audit Committee has determined that Ms. Connie D. McDaniel, Chair of the Audit Committee, may provide pre-approval for such services that meet the above requirements in the event such approval is sought between regularly scheduled meetings. In any event, the Audit Committee is informed of, and ratifies, each service approved subject to general pre-approval at the next regularly scheduled in-person Audit Committee meeting.
(e)(2) | The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X are as follows: |
(b) 0%
(c) 0%
(d) N/A
(f) | The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for fiscal years ended September 30, 2020 and September 30, 2021 are $1,623,815 and $161,947, respectively. |
(h) | The registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Effective February 1, 2021, the Board has adopted a new policy for consideration of Trustee nominees recommended by shareholders. With regards to such policy, an individual shareholder or shareholder group submitting a nomination must hold either individually or in the aggregate for at least one full year as of the date of nomination 5% of the shares of a series of the Trust, among other qualifications and restrictions. Shareholders or shareholder groups submitting nominees must comply with all requirements set forth in the Trust’s policy for consideration of Trustee nominees recommended by shareholders and any such submission must be in writing, directed to the attention of the Board’s Governance and Nominating Committee in care of the Trust’s Secretary, and should include biographical information, including business experience for the past ten years and a description of the qualifications of the proposed nominee, along with a statement from the proposed nominee that he or she is willing to serve and meets the requirements to be an Independent Trustee, if applicable. Shareholder nominees for Trustee will be given the same consideration as any candidate provided the nominee meets certain minimum requirements.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) 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. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(2)(1) Not applicable.
(a)(2)(2) Not applicable.
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Virtus Strategy Trust | ||
By (Signature and Title)* | /s/ George R. Aylward | |
George R. Aylward, President | ||
(principal executive officer) |
Date 12/7/21
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 (Signature and Title)* | /s/ George R. Aylward | |
George R. Aylward, President | ||
(principal executive officer) |
Date 12/7/21
By (Signature and Title)* | /s/ W. Patrick Bradley | |
W. Patrick Bradley, Executive Vice President, Chief Financial Officer, and Treasurer | ||
(principal financial officer) |
Date 12/7/21
* | Print the name and title of each signing officer under his or her signature. |