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 811-23161
Nushares ETF Trust
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Diana R. Gonzalez
Vice President and Secretary
333 West Wacker Drive, Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: July 31
Date of reporting period: January 31, 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 policy making 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. ss.3507.
Item 1. Reports to Stockholders.
Funds
Fund Name | Listing Exchange | Ticker Symbol | |||
Nuveen Enhanced Yield U.S. Aggregate Bond ETF | NYSE Arca | NUAG | |||
Nuveen Enhanced Yield 1-5 Year U.S. Aggregate Bond ETF | NYSE Arca | NUSA | |||
Nuveen ESG High Yield Corporate Bond ETF | NYSE Arca | NUHY | |||
Nuveen ESG U.S. Aggregate Bond ETF | NYSE Arca | NUBD |
Total Returns as of January 31, 2021 | ||||||
Cumulative | Average Annual | |||||
Inception Date | 6-Month | 1-Year | Since Inception | Expense Ratios | ||
NUAG at NAV | 9/14/16 | (0.78)% | 4.55% | 3.79% | 0.20% | |
NUAG at Market Price | 9/14/16 | (0.56)% | 4.55% | 3.82% | 0.20% | |
ICE BofA Enhanced Yield U.S. Broad Bond Index | - | (0.39)% | 4.08% | 4.13% | - | |
ICE BofA U.S. Broad Market Index | - | (1.03)% | 4.60% | 3.73% | - |
Total Returns as of January 31, 2021 | ||||||
Cumulative | Average Annual | |||||
Inception Date | 6-Month | 1-Year | Since Inception | Expense Ratios | ||
NUSA at NAV | 3/31/17 | 0.83% | 4.10% | 3.33% | 0.20% | |
NUSA at Market Price | 3/31/17 | 0.63% | 4.06% | 3.35% | 0.20% | |
ICE BofA Enhanced Yield 1-5 Year U.S. Broad Bond Index | - | 1.17% | 4.20% | 3.61% | - | |
ICE BofA 1-5 Year U.S. Broad Market Index | - | 0.50% | 3.49% | 3.04% | - |
Total Returns as of January 31, 2021 | ||||||
Cumulative | Average Annual | |||||
Inception Date | 6-Month | 1-Year | Since Inception | Expense Ratios | ||
NUHY at NAV | 9/25/19 | 4.33% | 4.13% | 4.56% | 0.35% | |
NUHY at Market Price | 9/25/19 | 3.56% | 4.44% | 4.91% | 0.35% | |
Bloomberg Barclays MSCI U.S. High Yield Very Liquid ESG Select Index | - | 4.42% | 3.98% | 4.78% | - | |
Bloomberg Barclays U.S. High Yield Very Liquid Index | - | 5.68% | 6.21% | 6.35% | - |
Total Returns as of January 31, 2021 | ||||||
Cumulative | Average Annual | |||||
Inception Date | 6-Month | 1-Year | Since Inception | Expense Ratios | ||
NUBD at NAV | 9/29/17 | (1.61)% | 4.50% | 4.43% | 0.20% | |
NUBD at Market Price | 9/29/17 | (1.48)% | 4.63% | 4.53% | 0.20% | |
Bloomberg Barclays MSCI U.S. Aggregate ESG Select Index | - | (1.09)% | 4.82% | 4.67% | - | |
Bloomberg Barclays U.S. Aggregate Bond Index | - | (0.91)% | 4.72% | 4.69% | - |
Dividend Rate | 2.45% |
SEC 30-Day Yield | 1.24% |
Dividend Rate | 2.08% |
SEC 30-Day Yield | 0.57% |
Dividend Rate | 4.48% |
SEC 30-Day Yield | 3.21% |
Dividend Rate | 1.91% |
SEC 30-Day Yield | 0.93% |
Fund Allocation (% of net assets) | |
Securitized | 37.1% |
U.S. Treasury | 26.7% |
Corporate Debt | 24.2% |
Government Related - Long-Term | 6.3% |
U.S. Government and Agency Obligations | 5.1% |
Other Assets Less Liabilities | 0.6% |
Net Assets | 100% |
Corporate Debt: Industries (% of total corporate debt holdings) | |
Industrial | 63.4% |
Financials | 15.1% |
Utility | 21.5% |
Total | 100% |
Portfolio Credit Quality (% of total investments) | |
U.S. Treasury/Agency | 68.4% |
AAA | 1.3% |
AA | 1.4% |
A | 1.9% |
BBB | 26.9% |
N/R (not rated) | 0.1% |
Total | 100% |
Fund Allocation (% of net assets) | |
Corporate Debt | 41.8% |
Securitized | 30.9% |
U.S. Treasury | 26.1% |
U.S. Government and Agency Obligations | 1.1% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Corporate Debt: Industries (% of total corporate debt holdings) | |
Industrial | 25.7% |
Financials | 45.9% |
Utility | 28.4% |
Total | 100% |
Portfolio Credit Quality (% of total investments) | |
U.S. Treasury/Agency | 43.3% |
AAA | 12.8% |
AA | 2.1% |
A | 14.7% |
BBB | 27.1% |
Total | 100% |
Fund Allocation (% of net assets) | |
Corporate Debt | 97.9% |
Investments Purchased with Collateral from Securities Lending | 0.7% |
U.S. Government and Agency Obligations | 1.6% |
Other Assets Less Liabilities | (0.2)% |
Net Assets | 100% |
Corporate Debt: Industries (% of total corporate debt holdings) | |
Industrial | 91.5% |
Financials | 7.4% |
Utility | 1.1% |
Total | 100% |
Portfolio Credit Quality (% of total investments) | |
U.S. Treasury/Agency | 1.6% |
BBB | 4.7% |
BB or Lower | 93.7% |
Total | 100% |
Fund Allocation (% of net assets) | |
U.S. Treasury | 36.7% |
Securitized | 29.4% |
Corporate Debt | 26.9% |
Government Related - Long-Term | 6.2% |
Investments Purchased with Collateral from Securities Lending | 0.1% |
U.S. Government and Agency Obligations | 1.8% |
Other Assets Less Liabilities | (1.1)% |
Net Assets | 100% |
Corporate Debt: Industries (% of total corporate debt holdings) | |
Industrial | 61.3% |
Financials | 30.8% |
Utility | 7.9% |
Total | 100% |
Portfolio Credit Quality (% of total investments) | |
U.S. Treasury/Agency | 65.1% |
AAA | 6.2% |
AA | 3.3% |
A | 13.1% |
BBB | 12.3% |
Total | 100% |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $ 992.20 |
Expenses Incurred During Period | $ 1.00 |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,024.20 |
Expenses Incurred During the Period | $ 1.02 |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,008.30 |
Expenses Incurred During Period | $ 1.01 |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,024.20 |
Expenses Incurred During the Period | $ 1.02 |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,043.30 |
Expenses Incurred During Period | $ 1.80 |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,023.44 |
Expenses Incurred During the Period | $ 1.79 |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $ 983.90 |
Expenses Incurred During Period | $ 1.00 |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,024.20 |
Expenses Incurred During the Period | $ 1.02 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
LONG-TERM INVESTMENTS – 94.3% | ||||||
SECURITIZED – 37.1% | ||||||
$ 560 | Citigroup Commercial Mortgage Trust 2016-GC37 | 3.576% | 4/10/49 | Aa2 | $616,401 | |
250 | COMM 2015-LC19 Mortgage Trust | 3.527% | 2/10/48 | Aa1 | 271,040 | |
445 | COMM 2015-LC23 Mortgage Trust | 3.774% | 10/10/48 | Aaa | 494,143 | |
500 | Csail 2015-C2 Commercial Mortgage Trust | 3.849% | 6/15/57 | Aa2 | 528,780 | |
774 | Fannie Mae Pool AL9125 | 4.000% | 10/01/43 | N/R | 850,301 | |
356 | Fannie Mae Pool AS6302 | 3.500% | 12/01/45 | N/R | 384,151 | |
516 | Fannie Mae Pool AX4887 | 4.000% | 12/01/44 | N/R | 571,177 | |
45 | Fannie Mae Pool MA1489 | 3.000% | 7/01/43 | Aaa | 48,672 | |
446 | Fannie Mae Pool MA2929 | 3.500% | 3/01/47 | Aaa | 478,360 | |
497 | Fannie Mae Pool MA3120 | 3.500% | 9/01/47 | Aaa | 531,095 | |
169 | Fannie Mae Pool MA3211 | 4.000% | 12/01/47 | Aaa | 181,851 | |
294 | Fannie Mae Pool MA3239 | 4.000% | 1/01/48 | Aaa | 317,862 | |
415 | Fannie Mae Pool MA3276 | 3.500% | 2/01/48 | Aaa | 443,662 | |
102 | Fannie Mae Pool MA3277 | 4.000% | 2/01/48 | N/R | 110,178 | |
212 | Fannie Mae Pool MA3305 | 3.500% | 3/01/48 | N/R | 225,811 | |
70 | Fannie Mae Pool MA3306 | 4.000% | 3/01/48 | N/R | 75,424 | |
220 | Fannie Mae Pool MA3332 | 3.500% | 4/01/48 | Aaa | 234,566 | |
134 | Fannie Mae Pool MA3383 | 3.500% | 6/01/48 | Aaa | 143,003 | |
138 | Fannie Mae Pool MA3467 | 4.000% | 9/01/48 | Aaa | 148,490 | |
160 | Fannie Mae Pool MA3663 | 3.500% | 5/01/49 | Aaa | 170,092 | |
212 | Fannie Mae Pool MA3744 | 3.000% | 8/01/49 | N/R | 222,986 | |
235 | Fannie Mae Pool MA3774 | 3.000% | 9/01/49 | Aaa | 246,790 | |
304 | Fannie Mae Pool MA3905 | 3.000% | 1/01/50 | N/R | 320,102 | |
905 | Fannie Mae Pool MA3960 | 3.000% | 3/01/50 | N/R | 951,289 | |
1,980 | Fannie Mae Pool MA3990 | 2.500% | 4/01/50 | N/R | 2,084,244 | |
4,493 | Fannie Mae Pool MA4078 | 2.500% | 7/01/50 | N/R | 4,729,652 | |
959 | Fannie Mae Pool MA4182 | 2.000% | 11/01/50 | N/R | 989,173 | |
993 | Fannie Mae Pool MA4208 | 2.000% | 12/01/50 | N/R | 1,024,920 | |
499 | Fannie Mae Pool MA4237 | 2.000% | 1/01/51 | N/R | 514,524 | |
54,850 | Fannie Mae Pool MA4255 | 2.000% | 2/01/51 | N/R | 56,591,086 | |
1,400 | Fannie Mae Pool MA4256, (WI/DD) | 2.500% | 2/01/51 | N/R | 1,473,868 | |
403 | Freddie Mac Gold Pool G08797 | 4.000% | 1/01/48 | N/R | 434,166 | |
181 | Freddie Mac Gold Pool G08800 | 3.500% | 2/01/48 | N/R | 193,647 | |
2,246 | Freddie Mac Pool SD8080 | 2.000% | 6/01/50 | N/R | 2,318,133 | |
37 | Ginnie Mae II Pool MA2149 | 4.000% | 8/20/44 | N/R | 40,734 | |
414 | Ginnie Mae II Pool MA3310 | 3.500% | 12/20/45 | Aaa | 445,474 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
$ 122 | Ginnie Mae II Pool MA3311 | 4.000% | 12/20/45 | Aaa | $133,998 | |
145 | Ginnie Mae II Pool MA3874 | 3.500% | 8/20/46 | Aaa | 156,219 | |
93 | Ginnie Mae II Pool MA3937 | 3.500% | 9/20/46 | Aaa | 99,868 | |
217 | Ginnie Mae II Pool MA4900 | 3.500% | 12/20/47 | Aaa | 232,377 | |
172 | Ginnie Mae II Pool MA4962 | 3.500% | 1/20/48 | Aaa | 184,285 | |
197 | Ginnie Mae II Pool MA5875 | 3.500% | 4/20/49 | Aaa | 208,856 | |
314 | Ginnie Mae II Pool MA6283 | 3.000% | 11/20/49 | N/R | 330,286 | |
327 | Ginnie Mae II Pool MA6338 | 3.000% | 12/20/49 | N/R | 342,687 | |
346 | Ginnie Mae II Pool MA6474 | 3.000% | 2/20/50 | N/R | 362,451 | |
1,427 | Ginnie Mae II Pool MA6599 | 3.000% | 4/20/50 | N/R | 1,496,110 | |
1,876 | Ginnie Mae II Pool MA6711 | 3.500% | 6/20/50 | N/R | 1,987,870 | |
1,961 | Ginnie Mae II Pool MA6819 | 2.500% | 8/20/50 | N/R | 2,063,291 | |
2,687 | Ginnie Mae II Pool MA6865 | 2.500% | 9/20/50 | N/R | 2,827,268 | |
964 | Ginnie Mae II Pool MA6994 | 2.000% | 11/20/50 | N/R | 1,001,126 | |
25,150 | Ginnie Mae II Pool MA7135 | 2.000% | 1/20/51 | N/R | 26,102,705 | |
230 | GS Mortgage Securities Trust 2013-GC16 | 5.161% | 11/10/46 | Aa1 | 249,035 | |
233 | GS Mortgage Securities Trust 2016-GS4 | 3.178% | 11/10/49 | Aaa | 250,645 | |
349 | SoFi Professional Loan Program 2017-E LLC, 144A | 2.720% | 11/26/40 | AAA | 355,583 | |
250 | Verizon Owner Trust 2019-C | 2.060% | 4/22/24 | AA | 257,832 | |
250 | Wells Fargo Commercial Mortgage Trust 2014-LC16 | 4.020% | 8/15/50 | Aaa | 265,474 | |
$ 113,724 | Total Securitized (cost $117,487,006) | 118,313,813 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
U.S. TREASURY – 26.7% | ||||||
$ 4,967 | United States Treasury Note/Bond | 2.625% | 7/15/21 | AAA | $5,024,237 | |
4,856 | United States Treasury Note/Bond | 2.000% | 12/31/21 | AAA | 4,940,221 | |
1,838 | United States Treasury Note/Bond | 1.750% | 6/15/22 | AAA | 1,878,996 | |
8,959 | United States Treasury Note/Bond | 0.125% | 7/31/22 | AAA | 8,960,750 | |
153 | United States Treasury Note/Bond | 1.375% | 10/15/22 | AAA | 156,251 | |
1,357 | United States Treasury Note/Bond | 0.125% | 11/30/22 | AAA | 1,357,265 | |
25,000 | United States Treasury Note/Bond | 0.125% | 12/31/22 | Aaa | 25,001,953 | |
1,706 | United States Treasury Note/Bond | 1.250% | 2/28/25 | AAA | 1,761,312 | |
873 | United States Treasury Note/Bond | 0.375% | 4/30/25 | AAA | 874,193 | |
11,739 | United States Treasury Note/Bond | 0.250% | 9/30/25 | AAA | 11,657,377 | |
3,884 | United States Treasury Note/Bond | 0.250% | 10/31/25 | AAA | 3,854,567 | |
1,358 | United States Treasury Note/Bond | 3.125% | 11/15/28 | AAA | 1,588,860 | |
628 | United States Treasury Note/Bond | 2.375% | 5/15/29 | AAA | 700,465 | |
749 | United States Treasury Note/Bond | 1.625% | 8/15/29 | AAA | 790,341 | |
4,572 | United States Treasury Note/Bond | 0.625% | 5/15/30 | AAA | 4,399,836 | |
1,605 | United States Treasury Note/Bond | 3.500% | 2/15/39 | AAA | 2,109,948 | |
2,694 | United States Treasury Note/Bond | 1.375% | 11/15/40 | AAA | 2,560,563 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
$ 2,664 | United States Treasury Note/Bond | 2.750% | 8/15/42 | AAA | $3,176,404 | |
25 | United States Treasury Note/Bond | 2.250% | 8/15/49 | AAA | 27,333 | |
372 | United States Treasury Note/Bond | 2.000% | 2/15/50 | AAA | 385,412 | |
1,721 | United States Treasury Note/Bond | 1.250% | 5/15/50 | AAA | 1,482,749 | |
2,801 | United States Treasury Note/Bond | 1.375% | 8/15/50 | AAA | 2,493,328 | |
$ 84,521 | Total U.S. Treasury (cost $85,429,173) | 85,182,361 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
CORPORATE DEBT – 24.2% | ||||||
Financials – 3.7% | ||||||
$ 110 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.450% | 4/03/26 | BBB- | $122,108 | |
30 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.650% | 7/21/27 | BBB- | 32,170 | |
22 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.875% | 1/23/28 | BBB- | 23,656 | |
22 | Aetna Inc | 4.500% | 5/15/42 | BBB | 26,466 | |
23 | Air Lease Corp | 3.875% | 7/03/23 | BBB | 24,611 | |
30 | Air Lease Corp | 3.625% | 4/01/27 | BBB | 32,565 | |
200 | Air Lease Corp | 3.250% | 10/01/29 | BBB | 209,921 | |
10 | Air Lease Corp | 3.000% | 2/01/30 | BBB | 10,167 | |
10 | Aircastle Ltd | 5.000% | 4/01/23 | BBB- | 10,747 | |
10 | Alexandria Real Estate Equities Inc | 3.375% | 8/15/31 | BBB+ | 11,314 | |
183 | Alexandria Real Estate Equities Inc | 1.875% | 2/01/33 | BBB+ | 178,318 | |
275 | American International Group Inc | 4.200% | 4/01/28 | BBB+ | 321,915 | |
28 | Anthem Inc | 4.625% | 5/15/42 | BBB+ | 35,410 | |
145 | Anthem Inc | 3.700% | 9/15/49 | BBB+ | 166,587 | |
226 | Aon Corp | 3.750% | 5/02/29 | BBB+ | 260,302 | |
22 | Arch Capital Group US Inc | 5.144% | 11/01/43 | BBB+ | 28,746 | |
22 | Athene Holding Ltd | 6.150% | 4/03/30 | BBB | 27,370 | |
27 | AXIS Specialty Finance PLC | 4.000% | 12/06/27 | BBB+ | 30,404 | |
385 | Bank of America Corp | 4.183% | 11/25/27 | BBB+ | 440,918 | |
11 | Bank of America Corp | 4.443% | 1/20/48 | A | 13,952 | |
11 | BankUnited Inc | 5.125% | 6/11/30 | Baa3 | 12,773 | |
40 | Barclays Bank PLC | 3.750% | 5/15/24 | A+ | 44,066 | |
33 | Barclays PLC | 3.932% | 5/07/25 | BBB+ | 36,057 | |
74 | Barclays PLC | 4.972% | 5/16/29 | BBB+ | 88,028 | |
666 | Barclays PLC | 5.088% | 6/20/30 | BBB- | 782,052 | |
122 | Boston Properties LP | 3.400% | 6/21/29 | BBB+ | 134,911 | |
119 | Boston Properties LP | 2.900% | 3/15/30 | BBB+ | 125,959 | |
318 | Brighthouse Financial Inc | 5.625% | 5/15/30 | BBB | 389,100 | |
212 | Brixmor Operating Partnership LP | 4.125% | 5/15/29 | BBB- | 242,410 | |
328 | Capital One Financial Corp | 3.800% | 1/31/28 | BBB+ | 373,524 | |
200 | Citigroup Inc | 1.122% | 1/28/27 | A- | 199,875 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 141 | Citigroup Inc | 4.450% | 9/29/27 | BBB | $164,246 | |
143 | Citigroup Inc | 4.125% | 7/25/28 | BBB | 163,987 | |
145 | Citigroup Inc | 4.750% | 5/18/46 | BBB | 187,076 | |
221 | Citizens Financial Group Inc | 2.500% | 2/06/30 | BBB+ | 232,705 | |
32 | CNA Financial Corp | 3.900% | 5/01/29 | BBB+ | 37,324 | |
40 | Cooperatieve Rabobank UA | 3.750% | 7/21/26 | BBB+ | 45,055 | |
35 | Credit Suisse Group AG | 4.875% | 5/15/45 | BBB+ | 46,919 | |
17 | Digital Realty Trust LP | 4.450% | 7/15/28 | BBB | 20,205 | |
100 | Digital Realty Trust LP | 3.600% | 7/01/29 | BBB | 112,969 | |
259 | Discover Bank | 4.650% | 9/13/28 | BBB | 306,267 | |
100 | Duke Realty LP | 1.750% | 7/01/30 | BBB+ | 99,783 | |
11 | Duke Realty LP | 3.050% | 3/01/50 | BBB+ | 11,341 | |
218 | Equitable Holdings Inc | 5.000% | 4/20/48 | BBB | 279,773 | |
110 | Essex Portfolio LP | 1.650% | 1/15/31 | BBB+ | 106,964 | |
4 | Essex Portfolio LP | 2.650% | 3/15/32 | BBB+ | 4,203 | |
11 | Essex Portfolio LP | 4.500% | 3/15/48 | BBB+ | 13,684 | |
11 | Essex Portfolio LP | 2.650% | 9/01/50 | BBB+ | 10,023 | |
22 | Fairfax Financial Holdings Ltd | 4.625% | 4/29/30 | BBB- | 24,486 | |
218 | Fifth Third Bancorp | 3.950% | 3/14/28 | BBB+ | 255,685 | |
113 | GATX Corp | 4.550% | 11/07/28 | BBB | 135,296 | |
35 | GE Capital International Funding Co Unlimited Co | 4.418% | 11/15/35 | BBB+ | 40,918 | |
20 | Goldman Sachs Group Inc | 3.750% | 2/25/26 | A- | 22,533 | |
26 | Goldman Sachs Group Inc | 3.500% | 11/16/26 | A- | 28,916 | |
18 | Goldman Sachs Group Inc | 6.450% | 5/01/36 | BBB | 25,605 | |
109 | Hartford Financial Services Group Inc | 6.100% | 10/01/41 | BBB+ | 158,103 | |
18 | Healthcare Realty Trust Inc | 3.625% | 1/15/28 | BBB | 20,111 | |
100 | Healthcare Trust of America Holdings LP | 3.100% | 2/15/30 | BBB | 108,044 | |
127 | Healthpeak Properties Inc | 3.000% | 1/15/30 | BBB+ | 137,975 | |
5 | Highwoods Realty LP | 3.050% | 2/15/30 | BBB | 5,249 | |
246 | HSBC Holdings PLC | 7.625% | 5/17/32 | BBB+ | 357,108 | |
30 | Humana Inc | 3.850% | 10/01/24 | BBB | 33,121 | |
15 | Huntington Bancshares Inc/OH | 4.000% | 5/15/25 | BBB+ | 16,963 | |
226 | Jefferies Financial Group Inc | 5.500% | 10/18/23 | BBB | 247,464 | |
4 | JPMorgan Chase & Co | 3.702% | 5/06/30 | A | 4,566 | |
40 | KeyBank NA/Cleveland OH | 3.400% | 5/20/26 | BBB+ | 44,561 | |
4 | KeyCorp | 4.100% | 4/30/28 | BBB+ | 4,724 | |
22 | Kimco Realty Corp | 4.250% | 4/01/45 | BBB+ | 25,225 | |
321 | Lazard Group LLC | 4.500% | 9/19/28 | BBB | 380,409 | |
28 | Lincoln National Corp | 4.200% | 3/15/22 | BBB+ | 29,231 | |
60 | Lincoln National Corp | 3.625% | 12/12/26 | BBB+ | 68,056 | |
22 | Lincoln National Corp | 6.300% | 10/09/37 | BBB+ | 29,863 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 12 | Lloyds Banking Group PLC | 2.438% | 2/05/26 | A- | $12,621 | |
44 | Lloyds Banking Group PLC | 5.300% | 12/01/45 | BBB+ | 58,517 | |
12 | Manulife Financial Corp | 4.061% | 2/24/32 | BBB+ | 13,255 | |
27 | Markel Corp | 5.000% | 5/20/49 | BBB | 36,193 | |
11 | Mid-America Apartments LP | 2.750% | 3/15/30 | BBB+ | 11,760 | |
111 | Morgan Stanley | 4.350% | 9/08/26 | BBB+ | 129,130 | |
122 | Morgan Stanley | 4.457% | 4/22/39 | A | 153,267 | |
22 | National Retail Properties Inc | 4.800% | 10/15/48 | BBB+ | 27,255 | |
388 | Natwest Group PLC | 4.892% | 5/18/29 | BBB+ | 459,489 | |
44 | Nomura Holdings Inc | 2.679% | 7/16/30 | BBB+ | 46,012 | |
22 | Omega Healthcare Investors Inc | 4.750% | 1/15/28 | BBB- | 24,992 | |
26 | Physicians Realty LP | 3.950% | 1/15/28 | BBB- | 28,172 | |
324 | Prudential Financial Inc | 5.375% | 5/15/45 | BBB+ | 357,119 | |
34 | Raymond James Financial Inc | 3.625% | 9/15/26 | BBB+ | 38,992 | |
8 | Realty Income Corp | 3.650% | 1/15/28 | A- | 9,053 | |
17 | Regency Centers LP | 4.400% | 2/01/47 | BBB+ | 19,342 | |
18 | Reinsurance Group of America Inc | 4.700% | 9/15/23 | BBB+ | 19,836 | |
29 | Sabra Health Care LP | 4.800% | 6/01/24 | BBB- | 31,447 | |
28 | Santander Holdings USA Inc | 3.244% | 10/05/26 | BBB | 30,366 | |
100 | SVB Financial Group | 1.800% | 2/02/31 | N/R | 98,574 | |
33 | Synchrony Financial | 3.950% | 12/01/27 | BBB- | 36,839 | |
25 | UDR Inc | 3.000% | 8/15/31 | BBB+ | 27,074 | |
100 | UDR Inc | 2.100% | 8/01/32 | BBB+ | 99,687 | |
29 | UnitedHealth Group Inc | 3.850% | 6/15/28 | A | 33,908 | |
13 | Unum Group | 4.500% | 12/15/49 | BBB- | 13,981 | |
9 | Ventas Realty LP | 4.400% | 1/15/29 | BBB+ | 10,437 | |
22 | Ventas Realty LP | 4.750% | 11/15/30 | BBB+ | 26,370 | |
26 | VEREIT Operating Partnership LP | 4.875% | 6/01/26 | BBB- | 30,582 | |
100 | VEREIT Operating Partnership LP | 2.200% | 6/15/28 | BBB- | 102,204 | |
11 | W R Berkley Corp | 4.000% | 5/12/50 | BBB+ | 13,106 | |
131 | Wachovia Corp | 5.500% | 8/01/35 | BBB+ | 171,078 | |
111 | Wells Fargo & Co | 7.950% | 11/15/29 | BBB | 151,719 | |
123 | Wells Fargo & Co | 4.750% | 12/07/46 | BBB+ | 155,509 | |
315 | Welltower Inc | 4.250% | 4/15/28 | BBB+ | 365,153 | |
251 | Westpac Banking Corp | 4.110% | 7/24/34 | BBB+ | 281,849 | |
31 | Willis North America Inc | 4.500% | 9/15/28 | BBB | 36,770 | |
10,070 | Total Financials | 11,644,796 | ||||
Industrial – 15.3% | ||||||
20 | AbbVie Inc | 3.850% | 6/15/24 | BBB | 21,977 | |
17 | AbbVie Inc | 3.600% | 5/14/25 | BBB | 18,842 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 324 | AbbVie Inc | 4.050% | 11/21/39 | BBB | $377,204 | |
328 | AbbVie Inc | 4.625% | 10/01/42 | BBB | 404,671 | |
318 | AbbVie Inc | 4.700% | 5/14/45 | BBB | 399,652 | |
12 | Altria Group Inc | 3.400% | 5/06/30 | BBB+ | 13,161 | |
363 | Altria Group Inc | 5.800% | 2/14/39 | BBB+ | 470,748 | |
6 | Altria Group Inc | 5.950% | 2/14/49 | BBB+ | 8,141 | |
221 | American Tower Corp | 3.800% | 8/15/29 | BBB | 250,714 | |
318 | American Tower Corp | 2.100% | 6/15/30 | BBB | 319,700 | |
318 | Amgen Inc | 3.150% | 2/21/40 | BBB+ | 336,043 | |
17 | Amgen Inc | 5.150% | 11/15/41 | BBB+ | 22,984 | |
319 | Amgen Inc | 4.563% | 6/15/48 | BBB+ | 410,935 | |
258 | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc | 4.900% | 2/01/46 | BBB+ | 321,630 | |
516 | Anheuser-Busch InBev Worldwide Inc | 4.000% | 4/13/28 | BBB+ | 597,409 | |
378 | Anheuser-Busch InBev Worldwide Inc | 4.350% | 6/01/40 | BBB+ | 451,075 | |
249 | AstraZeneca PLC | 4.000% | 1/17/29 | BBB+ | 292,784 | |
19 | AT&T Inc | 4.350% | 3/01/29 | BBB+ | 22,286 | |
395 | AT&T Inc | 2.750% | 6/01/31 | BBB+ | 412,257 | |
300 | AT&T Inc | 4.850% | 3/01/39 | BBB+ | 361,732 | |
321 | AT&T Inc | 5.150% | 3/15/42 | BBB+ | 396,309 | |
147 | AT&T Inc | 4.900% | 6/15/42 | BBB+ | 176,842 | |
247 | AT&T Inc, 144A | 3.500% | 9/15/53 | BBB+ | 237,251 | |
260 | AT&T Inc, 144A | 3.550% | 9/15/55 | BBB+ | 247,378 | |
269 | AT&T Inc, 144A | 3.800% | 12/01/57 | BBB+ | 266,549 | |
213 | AutoNation Inc | 4.500% | 10/01/25 | BBB- | 241,093 | |
17 | Barrick North America Finance LLC | 5.700% | 5/30/41 | BBB | 23,895 | |
258 | BAT Capital Corp | 4.390% | 8/15/37 | BBB | 284,381 | |
264 | BAT Capital Corp | 4.758% | 9/06/49 | BBB | 291,495 | |
27 | Baxter International Inc | 3.500% | 8/15/46 | A- | 29,717 | |
316 | Becton Dickinson and Co | 4.685% | 12/15/44 | BBB- | 400,776 | |
30 | Bell Canada Inc | 4.464% | 4/01/48 | BBB+ | 37,832 | |
17 | Biogen Inc | 5.200% | 9/15/45 | BBB+ | 22,754 | |
250 | Boeing Co | 6.125% | 2/15/33 | BBB- | 322,285 | |
35 | Boeing Co | 3.300% | 3/01/35 | BBB- | 34,254 | |
378 | Boeing Co | 5.875% | 2/15/40 | BBB- | 468,801 | |
258 | Boeing Co | 5.705% | 5/01/40 | BBB- | 326,568 | |
212 | BorgWarner Inc | 4.375% | 3/15/45 | BBB+ | 240,448 | |
210 | Boston Scientific Corp | 2.650% | 6/01/30 | BBB | 222,084 | |
274 | Broadcom Corp / Broadcom Cayman Finance Ltd | 3.500% | 1/15/28 | BBB- | 298,770 | |
378 | Broadcom Inc | 4.750% | 4/15/29 | BBB- | 441,414 | |
121 | Canadian Natural Resources Ltd | 5.850% | 2/01/35 | BBB | 152,360 | |
12 | Canadian Natural Resources Ltd | 6.750% | 2/01/39 | BBB | 16,575 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 250 | Canadian Pacific Railway Co | 2.050% | 3/05/30 | BBB+ | $257,902 | |
214 | Cardinal Health Inc | 4.500% | 11/15/44 | BBB | 242,450 | |
21 | Cardinal Health Inc | 4.368% | 6/15/47 | BBB | 23,743 | |
248 | Carrier Global Corp | 2.722% | 2/15/30 | BBB- | 262,090 | |
28 | Charter Communications Operating LLC / Charter Communications Operating Capital | 6.484% | 10/23/45 | BBB- | 38,246 | |
324 | Charter Communications Operating LLC / Charter Communications Operating Capital | 5.375% | 5/01/47 | BBB- | 392,823 | |
321 | Charter Communications Operating LLC / Charter Communications Operating Capital | 6.834% | 10/23/55 | BBB- | 466,796 | |
63 | Chevron USA Inc | 3.900% | 11/15/24 | AA | 70,343 | |
11 | Choice Hotels International Inc | 3.700% | 1/15/31 | BBB- | 11,962 | |
245 | Cigna Corp | 4.500% | 2/25/26 | BBB+ | 284,912 | |
258 | Cigna Corp | 4.900% | 12/15/48 | BBB+ | 342,435 | |
10 | Cimarex Energy Co | 4.375% | 6/01/24 | BBB- | 10,931 | |
328 | Conagra Brands Inc | 5.300% | 11/01/38 | BBB- | 430,391 | |
11 | Concho Resources Inc | 2.400% | 2/15/31 | A- | 11,407 | |
318 | Constellation Brands Inc | 3.150% | 8/01/29 | BBB- | 349,310 | |
328 | Corning Inc | 3.900% | 11/15/49 | BBB+ | 383,328 | |
35 | Crown Castle International Corp | 3.100% | 11/15/29 | BBB | 37,939 | |
222 | Crown Castle International Corp | 4.000% | 11/15/49 | BBB | 248,061 | |
11 | Crown Castle International Corp | 4.150% | 7/01/50 | BBB | 12,733 | |
212 | CSX Corp | 4.250% | 3/15/29 | BBB+ | 252,104 | |
250 | CSX Corp | 3.800% | 4/15/50 | BBB+ | 294,377 | |
393 | CVS Health Corp | 4.875% | 7/20/35 | BBB | 495,186 | |
368 | CVS Health Corp | 4.780% | 3/25/38 | BBB | 454,336 | |
7 | Dell International LLC / EMC Corp, 144A | 6.200% | 7/15/30 | BBB- | 8,940 | |
324 | Dell International LLC / EMC Corp, 144A | 8.350% | 7/15/46 | BBB- | 480,938 | |
100 | Devon Energy Corp | 7.950% | 4/15/32 | BBB- | 140,679 | |
17 | Devon Energy Corp | 5.600% | 7/15/41 | BBB- | 20,322 | |
14 | Dignity Health | 5.267% | 11/01/64 | BBB+ | 19,081 | |
210 | Discovery Communications LLC | 4.900% | 3/11/26 | BBB- | 245,647 | |
323 | Discovery Communications LLC, 144A | 4.000% | 9/15/55 | BBB- | 346,851 | |
17 | Dollar General Corp | 4.125% | 4/03/50 | BBB | 20,516 | |
11 | Dow Chemical Co | 4.625% | 10/01/44 | BBB | 13,530 | |
221 | Dow Chemical Co | 4.800% | 5/15/49 | BBB | 281,458 | |
211 | DuPont de Nemours Inc | 5.319% | 11/15/38 | BBB+ | 279,996 | |
222 | Eaton Corp | 4.150% | 11/02/42 | BBB+ | 271,149 | |
6 | Ecolab Inc | 3.250% | 12/01/27 | A- | 6,783 | |
29 | Electronic Arts Inc | 4.800% | 3/01/26 | BBB+ | 34,149 | |
12 | Enable Midstream Partners LP | 4.150% | 9/15/29 | BBB- | 11,843 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 22 | Enable Midstream Partners LP | 5.000% | 5/15/44 | BBB- | $21,179 | |
328 | Energy Transfer Operating LP | 5.800% | 6/15/38 | BBB- | 369,329 | |
210 | Energy Transfer Operating LP | 5.950% | 10/01/43 | BBB- | 233,228 | |
252 | Energy Transfer Operating LP | 6.125% | 12/15/45 | BBB- | 282,584 | |
216 | Energy Transfer Operating LP | 5.300% | 4/15/47 | BBB- | 226,487 | |
140 | Enterprise Products Operating LLC | 5.750% | 3/01/35 | BBB+ | 176,147 | |
151 | Enterprise Products Operating LLC | 6.450% | 9/01/40 | BBB+ | 209,962 | |
264 | Enterprise Products Operating LLC | 4.850% | 8/15/42 | BBB+ | 318,047 | |
328 | Equinix Inc | 1.250% | 7/15/25 | BBB- | 331,557 | |
328 | Expedia Group Inc | 3.250% | 2/15/30 | BBB- | 335,023 | |
7 | FedEx Corp | 3.100% | 8/05/29 | BBB | 7,681 | |
27 | FedEx Corp | 3.900% | 2/01/35 | BBB | 31,701 | |
328 | FedEx Corp | 4.050% | 2/15/48 | BBB | 371,693 | |
17 | Fidelity National Information Services Inc | 4.500% | 8/15/46 | BBB | 20,820 | |
318 | Fiserv Inc | 4.400% | 7/01/49 | BBB | 398,751 | |
16 | Fortive Corp | 4.300% | 6/15/46 | BBB | 19,333 | |
318 | Fox Corp | 3.500% | 4/08/30 | BBB | 357,747 | |
244 | General Electric Co | 5.875% | 1/14/38 | BBB+ | 326,036 | |
266 | General Electric Co | 4.250% | 5/01/40 | BBB+ | 303,000 | |
316 | General Mills Inc | 2.875% | 4/15/30 | BBB | 343,085 | |
257 | General Motors Co | 6.600% | 4/01/36 | BBB- | 354,005 | |
498 | Gilead Sciences Inc | 4.750% | 3/01/46 | BBB+ | 639,553 | |
212 | Global Payments Inc | 4.450% | 6/01/28 | BBB- | 250,041 | |
328 | GLP Capital LP / GLP Financing II Inc | 5.300% | 1/15/29 | BBB- | 384,138 | |
117 | Grupo Televisa SAB | 5.000% | 5/13/45 | BBB+ | 137,434 | |
211 | Halliburton Co | 6.700% | 9/15/38 | BBB+ | 276,565 | |
30 | Halliburton Co | 4.750% | 8/01/43 | BBB+ | 33,003 | |
318 | Hasbro Inc | 3.900% | 11/19/29 | BBB- | 355,101 | |
225 | HCA Inc | 4.125% | 6/15/29 | BBB- | 259,095 | |
6 | Helmerich & Payne Inc | 4.650% | 3/15/25 | BBB+ | 6,701 | |
219 | Hess Corp | 4.300% | 4/01/27 | BBB- | 242,311 | |
28 | Hewlett Packard Enterprise Co | 6.200% | 10/15/35 | BBB | 36,272 | |
17 | HP Inc | 6.000% | 9/15/41 | BBB | 21,724 | |
321 | International Paper Co | 4.800% | 6/15/44 | BBB | 414,847 | |
227 | International Paper Co | 4.400% | 8/15/47 | BBB | 286,459 | |
10 | Interpublic Group of Cos Inc | 3.750% | 2/15/23 | BBB | 10,645 | |
221 | J M Smucker Co | 4.250% | 3/15/35 | BBB | 265,699 | |
34 | Johnson Controls International plc | 4.625% | 7/02/44 | BBB | 43,437 | |
6 | Kansas City Southern | 4.300% | 5/15/43 | BBB | 7,047 | |
318 | Kellogg Co | 2.100% | 6/01/30 | BBB | 329,085 | |
318 | Keurig Dr Pepper Inc | 3.200% | 5/01/30 | BBB | 352,405 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 117 | Kinder Morgan Energy Partners LP | 6.375% | 3/01/41 | BBB | $151,376 | |
34 | Kinder Morgan Inc | 4.300% | 3/01/28 | BBB | 39,335 | |
258 | Kinder Morgan Inc | 5.200% | 3/01/48 | BBB | 314,847 | |
6 | Kroger Co | 2.200% | 5/01/30 | BBB | 6,211 | |
250 | Kroger Co | 5.400% | 1/15/49 | BBB | 351,195 | |
324 | Lowe's Cos Inc | 3.650% | 4/05/29 | BBB+ | 370,567 | |
318 | Lowe's Cos Inc | 4.500% | 4/15/30 | BBB+ | 387,079 | |
32 | LYB International Finance BV | 4.875% | 3/15/44 | BBB | 39,342 | |
24 | LYB International Finance III LLC | 4.200% | 10/15/49 | BBB | 27,095 | |
22 | Magellan Midstream Partners LP | 4.200% | 3/15/45 | BBB+ | 23,047 | |
12 | Magellan Midstream Partners LP | 4.250% | 9/15/46 | BBB+ | 13,321 | |
11 | Magellan Midstream Partners LP | 3.950% | 3/01/50 | BBB+ | 11,683 | |
211 | Marathon Petroleum Corp | 5.000% | 9/15/54 | BBB | 236,743 | |
27 | Marriott International Inc/MD | 4.500% | 10/01/34 | BBB- | 30,326 | |
16 | Martin Marietta Materials Inc | 2.500% | 3/15/30 | BBB | 16,955 | |
135 | McDonald's Corp | 3.600% | 7/01/30 | BBB+ | 154,682 | |
143 | McDonald's Corp | 4.700% | 12/09/35 | BBB+ | 182,468 | |
151 | McDonald's Corp | 6.300% | 10/15/37 | BBB+ | 222,833 | |
138 | McDonald's Corp | 4.875% | 7/15/40 | BBB+ | 179,265 | |
17 | Micron Technology Inc | 5.327% | 2/06/29 | BBB- | 20,979 | |
20 | Mosaic Co | 4.050% | 11/15/27 | BBB- | 22,641 | |
29 | MPLX LP | 4.500% | 7/15/23 | BBB | 31,404 | |
328 | MPLX LP | 4.500% | 4/15/38 | BBB | 366,649 | |
15 | Mylan Inc | 4.550% | 4/15/28 | BBB- | 17,765 | |
178 | Mylan Inc | 5.400% | 11/29/43 | BBB- | 232,947 | |
30 | NetApp Inc | 2.700% | 6/22/30 | BBB | 31,913 | |
17 | Newmont Corp | 6.250% | 10/01/39 | BBB | 25,266 | |
318 | Norfolk Southern Corp | 4.800% | 8/15/43 | BBB+ | 382,264 | |
221 | Norfolk Southern Corp | 4.150% | 2/28/48 | BBB+ | 268,466 | |
272 | Northrop Grumman Corp | 4.400% | 5/01/30 | BBB | 330,441 | |
318 | Nucor Corp, 144A | 2.979% | 12/15/55 | BBB+ | 323,758 | |
23 | Nutrien Ltd | 6.125% | 1/15/41 | BBB | 32,684 | |
328 | NXP BV / NXP Funding LLC, 144A | 5.550% | 12/01/28 | BBB- | 408,275 | |
17 | Omnicom Group Inc | 4.200% | 6/01/30 | BBB+ | 20,083 | |
318 | ONEOK Inc | 4.550% | 7/15/28 | BBB | 362,170 | |
4 | ONEOK Partners LP | 6.650% | 10/01/36 | BBB | 5,154 | |
35 | Orange SA | 5.375% | 1/13/42 | BBB+ | 48,647 | |
22 | O'Reilly Automotive Inc | 1.750% | 3/15/31 | BBB | 21,615 | |
225 | Otis Worldwide Corp | 3.112% | 2/15/40 | BBB | 236,268 | |
22 | Owens Corning | 4.300% | 7/15/47 | BBB- | 25,834 | |
33 | Parker-Hannifin Corp | 4.450% | 11/21/44 | BBB+ | 42,305 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 328 | PayPal Holdings Inc | 3.250% | 6/01/50 | BBB+ | $363,892 | |
27 | Phillips 66 | 5.875% | 5/01/42 | BBB+ | 36,472 | |
14 | Pioneer Natural Resources Co | 4.450% | 1/15/26 | BBB | 16,071 | |
215 | Plains All American Pipeline LP / PAA Finance Corp | 3.800% | 9/15/30 | BBB- | 227,121 | |
29 | Rayonier Inc | 3.750% | 4/01/22 | BBB- | 29,837 | |
17 | Raytheon Technologies Corp | 6.125% | 7/15/38 | BBB+ | 24,382 | |
320 | Raytheon Technologies Corp | 3.750% | 11/01/46 | BBB+ | 366,740 | |
318 | Raytheon Technologies Corp | 4.625% | 11/16/48 | BBB+ | 411,621 | |
14 | RELX Capital Inc | 3.000% | 5/22/30 | BBB+ | 15,258 | |
323 | Republic Services Inc | 3.950% | 5/15/28 | BBB | 374,885 | |
246 | Reynolds American Inc | 5.700% | 8/15/35 | BBB | 307,339 | |
224 | Rogers Communications Inc | 5.000% | 3/15/44 | BBB+ | 294,727 | |
318 | Roper Technologies Inc | 2.950% | 9/15/29 | BBB | 346,182 | |
14 | RPM International Inc | 4.250% | 1/15/48 | BBB- | 14,900 | |
221 | Sabine Pass Liquefaction LLC | 4.200% | 3/15/28 | BBB- | 250,613 | |
22 | Sands China Ltd | 5.400% | 8/08/28 | BBB- | 25,322 | |
213 | Sherwin-Williams Co | 2.300% | 5/15/30 | BBB | 220,739 | |
140 | Southern Copper Corp | 7.500% | 7/27/35 | BBB+ | 210,516 | |
27 | Southern Copper Corp | 5.250% | 11/08/42 | BBB+ | 35,496 | |
11 | Southwest Airlines Co | 3.450% | 11/16/27 | BBB+ | 11,935 | |
326 | Spectra Energy Partners LP | 4.500% | 3/15/45 | BBB+ | 373,953 | |
321 | Starbucks Corp | 3.550% | 8/15/29 | BBB+ | 367,088 | |
11 | Starbucks Corp | 3.350% | 3/12/50 | BBB+ | 11,709 | |
328 | Stryker Corp | 4.100% | 4/01/43 | BBB+ | 395,108 | |
212 | Suncor Energy Inc | 6.800% | 5/15/38 | BBB+ | 295,257 | |
216 | Sunoco Logistics Partners Operations LP | 5.350% | 5/15/45 | BBB- | 229,210 | |
11 | Suzano Austria GmbH | 6.000% | 1/15/29 | BBB- | 13,172 | |
120 | Suzano Austria GmbH | 5.000% | 1/15/30 | BBB- | 135,661 | |
17 | Sysco Corp | 2.400% | 2/15/30 | BBB | 17,482 | |
12 | Sysco Corp | 4.450% | 3/15/48 | BBB | 14,011 | |
328 | Sysco Corp | 3.300% | 2/15/50 | BBB | 330,548 | |
15 | Takeda Pharmaceutical Co Ltd | 2.050% | 3/31/30 | BBB | 15,122 | |
44 | Takeda Pharmaceutical Co Ltd | 3.025% | 7/09/40 | BBB | 45,331 | |
17 | Teck Resources Ltd | 6.000% | 8/15/40 | BBB- | 21,162 | |
283 | Telefonica Emisiones SA | 4.665% | 3/06/38 | BBB- | 336,184 | |
60 | Telefonica Emisiones SA | 4.895% | 3/06/48 | BBB- | 72,808 | |
11 | Telefonica Emisiones SA | 5.520% | 3/01/49 | BBB- | 14,537 | |
16 | Textron Inc | 3.000% | 6/01/30 | BBB | 16,856 | |
246 | Thermo Fisher Scientific Inc | 4.497% | 3/25/30 | BBB+ | 300,530 | |
252 | Time Warner Cable LLC | 6.750% | 6/15/39 | BBB- | 350,173 | |
252 | T-Mobile USA Inc, 144A | 3.750% | 4/15/27 | BBB- | 283,200 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 566 | T-Mobile USA Inc, 144A | 4.375% | 4/15/40 | BBB- | $662,803 | |
264 | Toledo Hospital | 6.015% | 11/15/48 | BBB- | 342,638 | |
258 | TransCanada PipeLines Ltd | 4.100% | 4/15/30 | BBB+ | 299,178 | |
122 | TransCanada PipeLines Ltd | 5.100% | 3/15/49 | BBB+ | 157,829 | |
328 | Transcontinental Gas Pipe Line Co LLC | 3.250% | 5/15/30 | BBB | 359,212 | |
17 | Tyson Foods Inc | 5.150% | 8/15/44 | BBB | 22,981 | |
15 | Tyson Foods Inc | 5.100% | 9/28/48 | BBB | 20,746 | |
266 | Union Pacific Corp | 3.875% | 2/01/55 | BBB+ | 308,159 | |
135 | Union Pacific Corp, 144A | 2.973% | 9/16/62 | BBB+ | 133,586 | |
123 | University of Southern California | 3.226% | 10/01/20 | AA | 122,124 | |
264 | Vale Overseas Ltd | 6.250% | 8/10/26 | BBB- | 324,060 | |
211 | Vale Overseas Ltd | 6.875% | 11/21/36 | BBB- | 302,374 | |
18 | Valero Energy Corp | 3.650% | 3/15/25 | BBB | 19,642 | |
218 | Valero Energy Corp | 2.150% | 9/15/27 | BBB | 220,341 | |
22 | Verizon Communications Inc | 3.150% | 3/22/30 | BBB+ | 24,148 | |
650 | Verizon Communications Inc | 4.812% | 3/15/39 | BBB+ | 823,132 | |
496 | Verizon Communications Inc | 4.750% | 11/01/41 | BBB+ | 626,408 | |
274 | Verizon Communications Inc | 4.862% | 8/21/46 | BBB+ | 353,982 | |
30 | Verizon Communications Inc | 5.500% | 3/16/47 | BBB+ | 41,937 | |
262 | Verizon Communications Inc | 4.000% | 3/22/50 | BBB+ | 301,740 | |
18 | ViacomCBS Inc | 2.900% | 1/15/27 | BBB | 19,598 | |
328 | ViacomCBS Inc | 4.900% | 8/15/44 | BBB | 402,158 | |
6 | ViacomCBS Inc | 4.950% | 5/19/50 | BBB | 7,583 | |
218 | Viatris Inc, 144A | 3.850% | 6/22/40 | BBB- | 240,186 | |
318 | VMware Inc | 4.700% | 5/15/30 | BBB- | 375,502 | |
142 | Vodafone Group PLC | 4.375% | 2/19/43 | BBB | 169,682 | |
120 | Vodafone Group PLC | 4.875% | 6/19/49 | BBB | 153,941 | |
244 | Walgreens Boots Alliance Inc | 4.500% | 11/18/34 | Baa3 | 280,079 | |
318 | Waste Management Inc | 4.100% | 3/01/45 | BBB+ | 383,483 | |
264 | Westlake Chemical Corp | 5.000% | 8/15/46 | BBB | 328,713 | |
14 | WestRock MWV LLC | 7.950% | 2/15/31 | BBB | 19,891 | |
27 | Weyerhaeuser Co | 4.000% | 4/15/30 | BBB | 31,448 | |
34 | Williams Cos Inc | 3.750% | 6/15/27 | BBB | 38,562 | |
26 | Zimmer Biomet Holdings Inc | 5.750% | 11/30/39 | BBB | 35,003 | |
15 | Zoetis Inc | 2.000% | 5/15/30 | BBB | 15,195 | |
7 | Zoetis Inc | 4.700% | 2/01/43 | BBB | 9,270 | |
41,216 | Total Industrial | 48,854,782 | ||||
Utility – 5.2% | ||||||
364 | AEP Texas Inc | 3.800% | 10/01/47 | BBB+ | 409,147 | |
257 | Alabama Power Co | 5.200% | 6/01/41 | A+ | 343,516 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Utility (continued) | ||||||
$ 27 | Ameren Illinois Co | 4.150% | 3/15/46 | A | $33,233 | |
154 | American Water Capital Corp | 4.300% | 12/01/42 | A- | 193,008 | |
111 | Appalachian Power Co | 4.400% | 5/15/44 | A- | 134,709 | |
320 | Black Hills Corp | 3.150% | 1/15/27 | BBB+ | 352,254 | |
10 | Black Hills Corp | 4.200% | 9/15/46 | BBB+ | 11,789 | |
124 | CenterPoint Energy Resources Corp | 4.000% | 4/01/28 | BBB+ | 142,924 | |
15 | CenterPoint Energy Resources Corp | 4.100% | 9/01/47 | BBB+ | 17,736 | |
318 | Cleco Corporate Holdings LLC | 3.743% | 5/01/26 | BBB- | 353,689 | |
328 | Consumers Energy Co | 3.750% | 2/15/50 | A+ | 396,554 | |
124 | Delmarva Power & Light Co | 4.000% | 6/01/42 | A | 143,708 | |
253 | Dominion Energy Inc | 5.250% | 8/01/33 | BBB | 330,880 | |
504 | Dominion Energy Inc | 4.900% | 8/01/41 | BBB | 642,073 | |
10 | Dominion Resources Inc | 4.050% | 9/15/42 | BBB | 11,672 | |
126 | DTE Electric Co | 3.950% | 6/15/42 | A+ | 146,196 | |
378 | Duke Energy Carolinas LLC | 4.250% | 12/15/41 | AA | 464,306 | |
371 | Duke Energy Corp | 3.950% | 8/15/47 | BBB | 420,909 | |
12 | Duke Energy Indiana LLC | 2.750% | 4/01/50 | A+ | 11,777 | |
269 | Duke Energy Progress LLC | 3.600% | 9/15/47 | A+ | 308,859 | |
151 | El Paso Electric Co | 5.000% | 12/01/44 | Baa2 | 175,754 | |
325 | Emera US Finance LP | 4.750% | 6/15/46 | BBB- | 401,255 | |
111 | Entergy Louisiana LLC | 4.200% | 9/01/48 | A | 138,208 | |
126 | Entergy Louisiana LLC | 2.900% | 3/15/51 | A | 128,840 | |
327 | Essential Utilities Inc | 2.704% | 4/15/30 | BBB+ | 349,901 | |
214 | Eversource Energy | 3.450% | 1/15/50 | BBB+ | 236,211 | |
254 | Exelon Corp | 4.950% | 6/15/35 | BBB | 317,682 | |
300 | Exelon Corp | 5.100% | 6/15/45 | BBB | 393,263 | |
608 | Exelon Corp | 4.450% | 4/15/46 | BBB | 744,979 | |
100 | Iberdrola International BV | 6.750% | 7/15/36 | BBB+ | 152,695 | |
26 | Indiana Michigan Power Co | 3.750% | 7/01/47 | A- | 29,998 | |
138 | Interstate Power and Light Co | 4.700% | 10/15/43 | BBB+ | 170,262 | |
28 | ITC Holdings Corp | 5.300% | 7/01/43 | BBB | 36,436 | |
6 | John Sevier Combined Cycle Generation LLC | 4.626% | 1/15/42 | AA | 7,707 | |
113 | National Grid USA | 5.803% | 4/01/35 | BBB+ | 149,671 | |
26 | National Rural Utilities Cooperative Finance Corp | 3.700% | 3/15/29 | A+ | 30,189 | |
135 | NiSource Inc | 5.250% | 2/15/43 | BBB | 178,037 | |
300 | NiSource Inc | 5.650% | 2/01/45 | BBB | 418,941 | |
378 | NiSource Inc | 4.375% | 5/15/47 | BBB | 456,995 | |
319 | NiSource Inc | 3.950% | 3/30/48 | BBB | 364,961 | |
151 | Oglethorpe Power Corp | 5.950% | 11/01/39 | BBB+ | 197,141 | |
319 | Oglethorpe Power Corp | 5.050% | 10/01/48 | BBB+ | 396,206 | |
1,595 | Pacific Gas and Electric Co | 3.750% | 8/15/42 | BBB- | 1,566,828 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Utility (continued) | ||||||
$ 900 | Pacific Gas and Electric Co | 4.300% | 3/15/45 | BBB- | $936,191 | |
731 | Pacific Gas and Electric Co | 4.000% | 12/01/46 | BBB- | 730,645 | |
274 | Pennsylvania Electric Co | 6.150% | 10/01/38 | BBB | 338,197 | |
274 | PPL Capital Funding Inc | 5.000% | 3/15/44 | BBB | 342,090 | |
15 | Sempra Energy | 4.050% | 12/01/23 | BBB+ | 16,349 | |
274 | Sempra Energy | 4.000% | 2/01/48 | BBB+ | 312,449 | |
113 | Southern California Gas Co | 3.950% | 2/15/50 | AA- | 137,539 | |
34 | Southern Co | 4.250% | 7/01/36 | BBB+ | 40,884 | |
33 | Southern Co | 4.400% | 7/01/46 | BBB+ | 39,701 | |
8 | Southern Co Gas Capital Corp | 4.400% | 6/01/43 | BBB+ | 9,591 | |
378 | Southern Co Gas Capital Corp | 4.400% | 5/30/47 | BBB+ | 458,638 | |
522 | Southern Power Co | 4.950% | 12/15/46 | BBB+ | 619,159 | |
130 | Southwestern Electric Power Co | 3.900% | 4/01/45 | BBB+ | 146,436 | |
274 | Southwestern Public Service Co | 6.000% | 10/01/36 | BBB+ | 366,994 | |
28 | Spire Inc | 4.700% | 8/15/44 | BBB | 31,696 | |
10 | Union Electric Co | 3.250% | 10/01/49 | A | 11,018 | |
111 | Wisconsin Power and Light Co | 4.100% | 10/15/44 | A- | 132,549 | |
14,234 | Total Utility | 16,581,225 | ||||
$ 65,520 | Total Corporate Debt (cost $76,880,705) | 77,080,803 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
GOVERNMENT RELATED – 6.3% | ||||||
Government Agency – 0.9% | ||||||
$ 100 | Ecopetrol SA | 6.875% | 4/29/30 | BBB- | $124,500 | |
274 | Ecopetrol SA | 5.875% | 5/28/45 | BBB- | 310,990 | |
284 | Federal Home Loan Mortgage Corp | 6.250% | 7/15/32 | AAA | 433,184 | |
635 | Federal Home Loan Mortgage Corp | 1.310% | 8/17/33 | Aaa | 618,267 | |
11 | Federal National Mortgage Association | 1.875% | 9/24/26 | AAA | 11,808 | |
119 | Federal National Mortgage Association | 6.625% | 11/15/30 | AAA | 177,998 | |
50 | Federal National Mortgage Association | 5.625% | 7/15/37 | AAA | 77,935 | |
10 | Tennessee Valley Authority | 5.250% | 9/15/39 | AAA | 14,635 | |
980 | Tennessee Valley Authority | 3.500% | 12/15/42 | AAA | 1,197,258 | |
2,463 | Total Government Agency | 2,966,575 | ||||
Municipal Bonds – 1.2% (3) | ||||||
91 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Subordinate Lien, Build America Federally Taxable Bond Series 2010S-1 (No Optional Call) | 6.918% | 4/01/40 | AA- | 140,870 | |
10 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Green Series 2016B (No Optional Call) | 3.852% | 8/15/46 | AAA | 12,897 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Municipal Bonds (3) (continued) | ||||||
$ 450 | California State, General Obligation Bonds, Various Purpose Build America Taxable Bond Series 2010 (No Optional Call) | 7.625% | 3/01/40 | AA | $774,166 | |
70 | Chicago Greater Metropolitan Water Reclamation District, Illinois, General Obligation Bonds, Build America Taxable Bonds, Series 2009 (No Optional Call) | 5.720% | 12/01/38 | AA+ | 99,183 | |
47 | Chicago O'Hare International Airport (No Optional Call) | 4.572% | 1/01/54 | A | 62,220 | |
91 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Plancon Program, Taxable Series 2018A (No Optional Call) | 3.864% | 6/01/38 | A+ | 107,495 | |
50 | Cook County, Illinois, General Obligation Bonds, Build America Taxable Bonds, Series 2010D (No Optional Call) | 6.229% | 11/15/34 | A+ | 71,015 | |
91 | Dormitory Authority of the State of New York, Revenue Bonds, Montefiore Obligated Group, Taxable Series 2018B (Optional Call: 8/28 at 100.00) | 4.946% | 8/01/48 | A+ | 104,472 | |
21 | Health & Educational Facilities Authority of the State of Missouri (No Optional Call) | 3.086% | 9/15/51 | AA+ | 23,555 | |
56 | Illinois State, General Obligation Bonds, Pension Funding Series 2003 (No Optional Call) | 5.100% | 6/01/33 | BBB- | 62,715 | |
30 | Los Angeles Community College District, California, General Obligation Bonds, Build America Taxable Bonds, Series 2010 (No Optional Call) | 6.750% | 8/01/49 | AA+ | 53,911 | |
91 | Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Build America Taxable Bonds, Series 2009KRY (No Optional Call) | 5.750% | 7/01/34 | A+ | 128,097 | |
50 | Massachusetts State, General Obligation Bonds, Taxable Refunding Series 2019D (No Optional Call) | 2.663% | 9/01/39 | AA+ | 53,578 | |
58 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Build America Taxable Bonds, Series 2009A-1 (No Optional Call) | 5.871% | 11/15/39 | A- | 75,896 | |
11 | Michigan Finance Authority, Hospital Revenue Bonds, Trinity Health Credit Group, Taxable Refunding Series 2019-T (No Optional Call) | 3.384% | 12/01/40 | AA- | 12,438 | |
96 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project J Bonds, Taxable Build America Bonds Series 2010A (No Optional Call) | 6.637% | 4/01/57 | A- | 143,629 | |
47 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Federally Taxable Issuer Subsidy Build America Bonds, Series 2010B (No Optional Call) | 6.561% | 12/15/40 | BBB+ | 68,947 | |
50 | New Jersey Turnpike Authority, Revenue Bonds, Build America Taxable Bonds, Series 2010A (No Optional Call) | 7.102% | 1/01/41 | A | 81,515 | |
75 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Build America Taxable Bonds, Series 2010B-1 (No Optional Call) | 5.572% | 11/01/38 | AAA | 101,083 | |
72 | New York State Thruway Authority, General Revenue Bonds, Taxable Series 2019M (No Optional Call) | 2.900% | 1/01/35 | A | 79,684 | |
120 | Ohio State University, General Receipts Bonds, Build America Taxable Bond Series 2010C (No Optional Call) | 4.910% | 6/01/40 | AA | 165,654 | |
30 | Ohio State University, General Receipts Bonds, Multiyear Debt Issuance Program, Taxable Series 2016B (No Optional Call) | 3.798% | 12/01/46 | AA | 37,418 | |
21 | Phoenix, Arizona, Various Purpose General Obligation Bonds, Build America Taxable Bonds, Series 2009A (No Optional Call) | 5.269% | 7/01/34 | AA+ | 26,379 | |
400 | Port Authority of New York & New Jersey (Optional Call: 7/31 at 100.00), (WI/DD) | 3.175% | 7/15/60 | A+ | 406,096 | |
100 | Province of British Columbia Canada (No Optional Call) | 1.300% | 1/29/31 | AAA | 99,788 | |
32 | Sales Tax Securitization Corp (No Optional Call) | 3.820% | 1/01/48 | AA- | 35,798 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Municipal Bonds (3) (continued) | ||||||
$ 42 | Texas State, General Obligation Bonds, Transportation Commission, Build America Taxable Bonds, Series 2010A (No Optional Call) | 4.631% | 4/01/33 | AAA | $53,238 | |
33 | The Rector and Visitors of the University of Virginia, General Revenue Bonds, Taxable Pledge and Refunding Series 2020 (Optional Call: 3/50 at 100.00) | 2.256% | 9/01/50 | AAA | 32,108 | |
500 | University of California Regents, Medical Center Pooled Revenue Bonds, Taxable Series 2020N (Optional Call: 11/49 at 100.00) | 3.006% | 5/15/50 | AA- | 534,560 | |
57 | University of California, General Revenue Bonds, Taxable Series 2019BD (No Optional Call) | 3.349% | 7/01/29 | AA | 65,620 | |
2,892 | Total Municipal Bonds | 3,714,025 | ||||
Sovereign Debt – 4.2% | ||||||
44 | Chile Government International Bond | 2.450% | 1/31/31 | A | 46,310 | |
42 | Chile Government International Bond | 2.550% | 1/27/32 | A | 44,353 | |
400 | Chile Government International Bond | 3.625% | 10/30/42 | A | 451,604 | |
124 | Chile Government International Bond | 3.500% | 1/25/50 | A | 136,140 | |
44 | Colombia Government International Bond | 3.125% | 4/15/31 | BBB- | 45,452 | |
272 | Colombia Government International Bond | 6.125% | 1/18/41 | BBB- | 348,840 | |
800 | Colombia Government International Bond | 5.625% | 2/26/44 | BBB- | 987,208 | |
50 | Colombia Government International Bond | 5.200% | 5/15/49 | BBB- | 59,620 | |
294 | Colombia Government International Bond | 4.125% | 5/15/51 | BBB- | 308,406 | |
75 | Indonesia Government International Bond | 3.850% | 10/15/30 | BBB | 86,645 | |
300 | Indonesia Government International Bond | 4.350% | 1/11/48 | Baa2 | 354,798 | |
44 | Indonesia Government International Bond | 3.500% | 2/14/50 | BBB | 47,211 | |
500 | Indonesia Government International Bond | 4.200% | 10/15/50 | BBB | 598,455 | |
100 | Israel Government International Bond | 4.500% | 1/30/43 | A+ | 128,978 | |
200 | Korea Government International Bond | 3.875% | 9/20/48 | AA | 261,141 | |
248 | Mexico Government International Bond | 6.050% | 1/11/40 | BBB | 315,798 | |
50 | Mexico Government International Bond | 4.750% | 3/08/44 | BBB | 56,125 | |
2,214 | Mexico Government International Bond | 5.550% | 1/21/45 | BBB | 2,756,452 | |
66 | Mexico Government International Bond | 4.350% | 1/15/47 | BBB | 70,290 | |
300 | Mexico Government International Bond | 4.600% | 2/10/48 | BBB | 330,378 | |
200 | Panama Government International Bond | 2.252% | 9/29/32 | BBB | 201,700 | |
700 | Panama Government International Bond | 4.500% | 5/15/47 | BBB | 858,382 | |
65 | Panama Government International Bond | 4.300% | 4/29/53 | BBB | 77,757 | |
200 | Panama Government International Bond | 3.870% | 7/23/60 | BBB | 222,302 | |
264 | Peruvian Government International Bond | 4.125% | 8/25/27 | BBB+ | 307,428 | |
140 | Peruvian Government International Bond | 2.783% | 1/23/31 | BBB+ | 150,430 | |
274 | Peruvian Government International Bond | 1.862% | 12/01/32 | BBB+ | 270,849 | |
150 | Peruvian Government International Bond | 2.780% | 12/01/60 | BBB+ | 145,050 | |
274 | Peruvian Government International Bond | 3.230% | 7/28/21 | BBB+ | 263,040 | |
44 | Philippine Government International Bond | 3.750% | 1/14/29 | BBB | 50,912 | |
800 | Philippine Government International Bond | 3.950% | 1/20/40 | BBB | 939,999 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Sovereign Debt (continued) | ||||||
$ 344 | Philippine Government International Bond | 2.950% | 5/05/45 | BBB | $355,646 | |
44 | Republic of Italy Government International Bond | 2.875% | 10/17/29 | Baa3 | 45,890 | |
137 | Republic of Italy Government International Bond | 5.375% | 6/15/33 | Baa3 | 174,791 | |
200 | Republic of Italy Government International Bond | 4.000% | 10/17/49 | N/R | 218,280 | |
574 | State of Israel | 3.375% | 1/15/50 | A+ | 624,948 | |
756 | Uruguay Government International Bond | 5.100% | 6/18/50 | BBB | 1,015,882 | |
11,333 | Total Sovereign Debt | 13,357,490 | ||||
$ 16,688 | Total Government Related (cost $19,922,201) | 20,038,090 | ||||
Total Long-Term Investments (cost $299,719,085) | 300,615,067 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SHORT-TERM INVESTMENTS – 5.1% | ||||||
U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 5.1% | ||||||
$ 3,845 | Federal Agricultural Mortgage Corp Discount Notes | 0.000% | 2/01/21 | N/R | $3,845,000 | |
1,063 | Federal Farm Credit Bank | 0.000% | 2/04/21 | N/R | 1,062,993 | |
8,095 | Federal Home Loan Banks | 0.000% | 2/10/21 | N/R | 8,094,939 | |
3,257 | Federal Home Loan Banks | 0.000% | 2/12/21 | N/R | 3,256,970 | |
$ 16,260 | Total Short-Term Investments (cost $16,259,902) | 16,259,902 | ||||
Total Investments (cost $315,978,987) – 99.4% | 316,874,969 | |||||
Other Assets Less Liabilities – 0.6% | 2,026,580 | |||||
Net Assets – 100% | $ 318,901,549 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | The Fund uses credit quality ratings for its portfolio securities provided by Moody's, S&P and Fitch. If all three of Moody's, S&P, and Fitch provide a rating for a security, an average of the ratings is used; if two of the three agencies rate a security, an average of the two is used; and if only one rating agency rates a security, that rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Credit ratings are subject to change. Holdings designated N/R are not rated by Moody's, S&P or Fitch. | |
(3) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
LONG-TERM INVESTMENTS – 98.8% | ||||||
CORPORATE DEBT – 41.8% | ||||||
Financials – 19.2% | ||||||
$ 60 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.125% | 7/03/23 | BBB- | $64,044 | |
130 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.875% | 1/16/24 | BBB- | 142,796 | |
210 | Air Lease Corp | 2.250% | 1/15/23 | BBB | 215,696 | |
81 | Aircastle Ltd | 4.400% | 9/25/23 | BBB- | 86,856 | |
85 | Ally Financial Inc | 3.875% | 5/21/24 | BBB- | 92,723 | |
40 | Ally Financial Inc | 5.125% | 9/30/24 | BBB- | 45,838 | |
67 | American Express Co | 3.400% | 2/22/24 | A- | 72,625 | |
81 | American International Group Inc | 4.125% | 2/15/24 | BBB+ | 89,479 | |
40 | American International Group Inc | 3.750% | 7/10/25 | BBB+ | 44,552 | |
85 | Anthem Inc | 2.375% | 1/15/25 | BBB+ | 90,198 | |
85 | Aon Corp | 2.200% | 11/15/22 | BBB+ | 87,825 | |
74 | Ares Capital Corp | 3.250% | 7/15/25 | BBB- | 78,209 | |
20 | Assured Guaranty US Holdings Inc | 5.000% | 7/01/24 | BBB+ | 22,914 | |
364 | Bank of America Corp | 3.458% | 3/15/25 | A | 394,944 | |
80 | Bank of America Corp | 3.366% | 1/23/26 | A | 87,768 | |
117 | Bank of Montreal | 3.300% | 2/05/24 | A | 126,860 | |
60 | Bank of New York Mellon Corp | 3.450% | 8/11/23 | A+ | 64,693 | |
100 | Bank of New York Mellon Corp | 0.750% | 1/28/26 | A+ | 99,756 | |
66 | Bank of Nova Scotia | 3.400% | 2/11/24 | A | 71,703 | |
270 | Barclays PLC | 3.932% | 5/07/25 | BBB+ | 295,013 | |
33 | BlackRock Inc | 4.250% | 5/24/21 | AA- | 33,412 | |
50 | Boston Properties LP | 3.800% | 2/01/24 | BBB+ | 54,248 | |
69 | Canadian Imperial Bank of Commerce | 3.100% | 4/02/24 | A | 74,460 | |
100 | Capital One Financial Corp | 3.750% | 4/24/24 | BBB+ | 109,430 | |
208 | Capital One Financial Corp | 3.300% | 10/30/24 | BBB+ | 226,558 | |
30 | Chubb INA Holdings Inc | 3.150% | 3/15/25 | A | 32,900 | |
273 | Citigroup Inc | 4.044% | 6/01/24 | A- | 295,158 | |
60 | Citigroup Inc | 3.875% | 3/26/25 | BBB | 66,497 | |
71 | Citizens Financial Group Inc | 2.375% | 7/28/21 | BBB+ | 71,524 | |
120 | Cooperatieve Rabobank UA | 4.375% | 8/04/25 | BBB+ | 137,139 | |
250 | Credit Suisse Group Funding Guernsey Ltd | 3.800% | 9/15/22 | BBB+ | 263,285 | |
10 | Deutsche Bank AG/London | 3.700% | 5/30/24 | BBB- | 10,802 | |
200 | Deutsche Bank AG/New York NY | 3.700% | 5/30/24 | BBB- | 216,477 | |
120 | Discover Bank | 3.350% | 2/06/23 | BBB | 126,518 | |
86 | Fifth Third Bancorp | 2.600% | 6/15/22 | BBB+ | 88,468 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 160 | Goldman Sachs Group Inc | 3.625% | 2/20/24 | A- | $173,889 | |
70 | Goldman Sachs Group Inc | 3.750% | 5/22/25 | A- | 77,904 | |
200 | HSBC Holdings PLC | 3.600% | 5/25/23 | A | 214,514 | |
66 | Humana Inc | 2.900% | 12/15/22 | BBB | 68,896 | |
85 | Jefferies Group LLC | 5.125% | 1/20/23 | BBB | 92,416 | |
148 | JPMorgan Chase & Co | 3.797% | 7/23/24 | A | 159,751 | |
134 | JPMorgan Chase & Co | 2.005% | 3/13/26 | A | 139,689 | |
26 | Marsh & McLennan Cos Inc | 3.875% | 3/15/24 | BBB+ | 28,624 | |
25 | MetLife Inc | 3.600% | 4/10/24 | A- | 27,462 | |
140 | Mitsubishi UFJ Financial Group Inc | 3.761% | 7/26/23 | A | 151,416 | |
118 | Morgan Stanley | 2.625% | 11/17/21 | A | 120,184 | |
177 | Morgan Stanley | 3.700% | 10/23/24 | A | 196,445 | |
310 | Natwest Group PLC | 4.269% | 3/22/25 | BBB+ | 341,514 | |
50 | Nomura Holdings Inc | 2.648% | 1/16/25 | BBB+ | 53,202 | |
40 | Northern Trust Corp | 3.375% | 8/23/21 | A+ | 40,685 | |
66 | PNC Financial Services Group Inc | 3.300% | 3/08/22 | A | 68,029 | |
51 | Prudential Financial Inc | 5.625% | 6/15/43 | BBB+ | 54,862 | |
51 | Prudential Financial Inc | 5.200% | 3/15/44 | BBB+ | 54,573 | |
100 | Royal Bank of Canada | 2.250% | 11/01/24 | A+ | 106,263 | |
59 | Sabra Health Care LP | 4.800% | 6/01/24 | BBB- | 63,978 | |
50 | Santander Holdings USA Inc | 3.400% | 1/18/23 | BBB | 52,447 | |
81 | Santander Holdings USA Inc | 3.500% | 6/07/24 | BBB | 87,539 | |
120 | Santander UK Group Holdings PLC | 4.796% | 11/15/24 | BBB+ | 132,970 | |
44 | SL Green Realty Corp | 4.500% | 12/01/22 | BBB- | 46,253 | |
85 | State Street Corp | 3.700% | 11/20/23 | A+ | 93,041 | |
140 | Sumitomo Mitsui Financial Group Inc | 3.748% | 7/19/23 | A | 151,258 | |
10 | Symetra Financial Corp | 4.250% | 7/15/24 | BBB | 11,007 | |
70 | Synchrony Financial | 2.850% | 7/25/22 | BBB- | 72,236 | |
10 | Synchrony Financial | 4.375% | 3/19/24 | BBB- | 10,972 | |
87 | Toronto-Dominion Bank | 2.650% | 6/12/24 | A+ | 93,187 | |
71 | Trinity Acquisition PLC | 4.625% | 8/15/23 | BBB | 77,931 | |
126 | Truist Bank | 3.689% | 8/02/24 | A | 136,179 | |
79 | US Bancorp | 2.625% | 1/24/22 | A+ | 80,667 | |
30 | Ventas Realty LP | 3.750% | 5/01/24 | BBB+ | 32,651 | |
105 | Wells Fargo & Co | 3.500% | 3/08/22 | A | 108,671 | |
141 | Wells Fargo & Co | 3.750% | 1/24/24 | A | 153,341 | |
110 | Wells Fargo & Co | 3.550% | 9/29/25 | A | 122,401 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 50 | Welltower Inc | 3.750% | 3/15/23 | BBB+ | $ 52,884 | |
7,280 | Total Financials | 7,831,299 | ||||
Industrial – 10.7% | ||||||
91 | AbbVie Inc | 3.750% | 11/14/23 | BBB | 98,922 | |
85 | AbbVie Inc | 2.600% | 11/21/24 | BBB | 90,781 | |
85 | Altria Group Inc | 2.350% | 5/06/25 | BBB+ | 89,664 | |
10 | American Tower Corp | 5.000% | 2/15/24 | BBB | 11,265 | |
80 | American Tower Corp | 2.400% | 3/15/25 | BBB | 84,515 | |
95 | Amgen Inc | 1.900% | 2/21/25 | BBB+ | 99,570 | |
60 | Anheuser-Busch InBev Worldwide Inc | 4.150% | 1/23/25 | BBB+ | 67,813 | |
110 | AT&T Inc | 3.400% | 5/15/25 | BBB+ | 121,441 | |
30 | AutoZone Inc | 3.250% | 4/15/25 | BBB | 32,740 | |
80 | BAT Capital Corp | 2.789% | 9/06/24 | BBB | 85,300 | |
84 | Becton Dickinson and Co | 3.125% | 11/08/21 | BBB- | 85,724 | |
85 | Boeing Co | 4.875% | 5/01/25 | BBB- | 95,903 | |
86 | Bristol-Myers Squibb Co | 2.750% | 2/15/23 | A | 90,019 | |
70 | Broadcom Inc | 4.110% | 9/15/28 | BBB- | 78,988 | |
44 | Bunge Ltd Finance Corp | 3.000% | 9/25/22 | BBB- | 45,643 | |
70 | Carrier Global Corp | 2.242% | 2/15/25 | BBB- | 73,557 | |
59 | Charter Communications Operating LLC / Charter Communications Operating Capital | 4.500% | 2/01/24 | BBB- | 65,338 | |
20 | Charter Communications Operating LLC / Charter Communications Operating Capital | 4.908% | 7/23/25 | BBB- | 23,048 | |
85 | Cigna Corp | 3.750% | 7/15/23 | BBB+ | 91,684 | |
74 | Constellation Brands Inc | 2.650% | 11/07/22 | BBB- | 76,704 | |
71 | CVS Health Corp | 2.625% | 8/15/24 | BBB | 75,816 | |
99 | Dell International LLC / EMC Corp, 144A | 5.450% | 6/15/23 | BBB- | 108,739 | |
10 | Dow Chemical Co | 3.500% | 10/01/24 | BBB | 10,933 | |
70 | Eastern Energy Gas Holdings LLC | 2.500% | 11/15/24 | A- | 74,509 | |
20 | Eastman Chemical Co | 3.600% | 8/15/22 | BBB- | 20,815 | |
100 | eBay Inc | 2.750% | 1/30/23 | BBB+ | 104,264 | |
50 | Enbridge Inc | 3.500% | 6/10/24 | BBB+ | 54,155 | |
74 | Energy Transfer Operating LP | 4.250% | 3/15/23 | BBB- | 78,413 | |
50 | Enterprise Products Operating LLC | 3.900% | 2/15/24 | BBB+ | 54,706 | |
85 | Equifax Inc | 2.600% | 12/15/25 | BBB | 91,156 | |
50 | Fiserv Inc | 2.750% | 7/01/24 | BBB | 53,526 | |
50 | Fox Corp | 4.030% | 1/25/24 | BBB | 54,978 | |
120 | General Electric Co | 3.375% | 3/11/24 | BBB+ | 130,156 | |
61 | General Motors Financial Co Inc | 4.375% | 9/25/21 | BBB- | 62,548 | |
100 | General Motors Financial Co Inc | 1.250% | 1/08/26 | BBB- | 99,647 | |
40 | Gilead Sciences Inc | 3.500% | 2/01/25 | BBB+ | 44,111 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 59 | Global Payments Inc | 4.000% | 6/01/23 | BBB- | $63,509 | |
30 | HCA Inc | 5.250% | 4/15/25 | BBB- | 34,974 | |
59 | Hewlett Packard Enterprise Co | 3.500% | 10/05/21 | BBB | 60,115 | |
10 | Interpublic Group of Cos Inc | 4.200% | 4/15/24 | BBB | 11,095 | |
70 | Keurig Dr Pepper Inc | 4.057% | 5/25/23 | BBB | 75,652 | |
95 | Kinder Morgan Energy Partners LP | 4.250% | 9/01/24 | BBB | 105,643 | |
10 | Kinross Gold Corp | 5.950% | 3/15/24 | BBB- | 11,431 | |
50 | Las Vegas Sands Corp | 2.900% | 6/25/25 | BBB- | 51,871 | |
85 | LYB International Finance III LLC | 2.875% | 5/01/25 | BBB | 91,407 | |
85 | Marriott International Inc/MD | 5.750% | 5/01/25 | BBB- | 98,585 | |
40 | McDonald's Corp | 2.625% | 1/15/22 | BBB+ | 40,890 | |
10 | McDonald's Corp | 3.250% | 6/10/24 | BBB+ | 10,883 | |
10 | Moody's Corp | 2.625% | 1/15/23 | BBB+ | 10,408 | |
85 | Moody's Corp | 3.750% | 3/24/25 | BBB+ | 95,128 | |
74 | Mosaic Co | 3.250% | 11/15/22 | BBB- | 77,200 | |
50 | MPLX LP | 4.875% | 12/01/24 | BBB | 56,793 | |
40 | Norfolk Southern Corp | 3.250% | 12/01/21 | BBB+ | 40,672 | |
50 | Omnicom Group Inc / Omnicom Capital Inc | 3.650% | 11/01/24 | BBB+ | 54,898 | |
70 | ONEOK Inc | 2.750% | 9/01/24 | BBB | 73,735 | |
50 | PayPal Holdings Inc | 2.400% | 10/01/24 | BBB+ | 53,119 | |
10 | Reliance Steel & Aluminum Co | 4.500% | 4/15/23 | BBB | 10,771 | |
31 | Roper Technologies Inc | 2.800% | 12/15/21 | BBB | 31,597 | |
50 | Roper Technologies Inc | 2.350% | 9/15/24 | BBB | 52,989 | |
70 | Ryder System Inc | 2.500% | 9/01/24 | BBB | 74,213 | |
95 | Sabine Pass Liquefaction LLC | 5.625% | 3/01/25 | BBB- | 110,767 | |
10 | Southern Copper Corp | 3.875% | 4/23/25 | BBB+ | 11,097 | |
30 | Southern Natural Gas Co LLC / Southern Natural Issuing Corp | 4.400% | 6/15/21 | BBB+ | 30,138 | |
20 | Steel Dynamics Inc | 2.800% | 12/15/24 | BBB- | 21,470 | |
20 | Tapestry Inc | 4.250% | 4/01/25 | BBB- | 21,586 | |
59 | Union Pacific Corp | 3.150% | 3/01/24 | BBB+ | 63,478 | |
80 | Verizon Communications Inc | 3.500% | 11/01/24 | BBB+ | 87,914 | |
85 | Williams Cos Inc | 3.900% | 1/15/25 | BBB | 93,783 | |
31 | Xylem Inc/NY | 4.875% | 10/01/21 | BBB | 31,911 | |
4,076 | Total Industrial | 4,386,813 | ||||
Utility – 11.9% | ||||||
81 | Ameren Corp | 2.500% | 9/15/24 | BBB | 86,271 | |
100 | American Electric Power Co Inc | 1.000% | 11/01/25 | BBB+ | 100,596 | |
118 | American Water Capital Corp | 3.850% | 3/01/24 | A- | 128,982 | |
85 | Avangrid Inc | 3.150% | 12/01/24 | BBB+ | 92,581 | |
85 | Black Hills Corp | 4.250% | 11/30/23 | BBB+ | 93,009 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Utility (continued) | ||||||
$ 80 | CenterPoint Energy Inc | 2.500% | 9/01/24 | BBB | $84,992 | |
83 | CenterPoint Energy Resources Corp | 3.550% | 4/01/23 | BBB+ | 88,263 | |
80 | CMS Energy Corp | 3.875% | 3/01/24 | BBB | 87,093 | |
48 | Consolidated Edison Inc | 2.000% | 5/15/21 | BBB+ | 48,168 | |
44 | Dominion Energy Inc | 4.104% | 4/01/21 | BBB | 44,278 | |
121 | Dominion Energy Inc | 3.071% | 8/15/24 | BBB | 131,402 | |
257 | DTE Energy Co | 3.500% | 6/01/24 | BBB | 278,881 | |
179 | Duke Energy Carolinas LLC | 3.050% | 3/15/23 | A+ | 189,000 | |
85 | Edison International | 4.950% | 4/15/25 | BBB- | 96,563 | |
70 | Entergy Gulf States Louisiana LLC | 5.590% | 10/01/24 | A | 82,261 | |
169 | Entergy Louisiana LLC | 5.400% | 11/01/24 | A | 198,164 | |
109 | Evergy Inc | 2.450% | 9/15/24 | BBB | 115,274 | |
66 | Eversource Energy | 2.500% | 3/15/21 | BBB+ | 66,054 | |
70 | Eversource Energy | 2.750% | 3/15/22 | BBB+ | 71,775 | |
139 | Exelon Corp | 3.497% | 6/01/22 | BBB | 144,242 | |
120 | Exelon Corp | 3.950% | 6/15/25 | BBB | 134,852 | |
266 | Georgia Power Co | 2.200% | 9/15/24 | A- | 280,979 | |
74 | ITC Holdings Corp | 2.700% | 11/15/22 | BBB | 76,732 | |
44 | National Rural Utilities Cooperative Finance Corp | 3.050% | 2/15/22 | A+ | 44,901 | |
24 | NextEra Energy Capital Holdings Inc | 2.800% | 1/15/23 | BBB+ | 25,111 | |
85 | NextEra Energy Capital Holdings Inc | 2.750% | 5/01/25 | BBB+ | 91,512 | |
167 | Oncor Electric Delivery Co LLC | 2.750% | 6/01/24 | A | 179,388 | |
20 | Oncor Electric Delivery Co LLC | 2.950% | 4/01/25 | A | 21,814 | |
100 | Pacific Gas and Electric Co | 3.400% | 8/15/24 | BBB- | 107,212 | |
100 | Pacific Gas and Electric Co | 3.450% | 7/01/25 | BBB- | 108,087 | |
58 | PacifiCorp | 2.950% | 2/01/22 | A+ | 59,183 | |
134 | PacifiCorp | 3.600% | 4/01/24 | A+ | 145,976 | |
150 | PacifiCorp | 3.350% | 7/01/25 | A+ | 165,270 | |
100 | Pinnacle West Capital Corp | 1.300% | 6/15/25 | A- | 101,650 | |
85 | PPL Capital Funding Inc | 3.950% | 3/15/24 | BBB | 93,058 | |
224 | PSEG Power LLC | 3.850% | 6/01/23 | BBB | 240,713 | |
170 | Public Service Co of Colorado | 2.900% | 5/15/25 | A+ | 183,069 | |
143 | Sempra Energy | 2.900% | 2/01/23 | BBB+ | 149,807 | |
85 | Sempra Energy | 3.550% | 6/15/24 | BBB+ | 92,204 | |
47 | Southern California Edison Co | 1.845% | 2/01/22 | A- | 46,587 | |
61 | Southern California Edison Co | 3.400% | 6/01/23 | A- | 64,782 | |
75 | Virginia Electric and Power Co | 2.950% | 1/15/22 | A- | 76,401 | |
120 | Wisconsin Electric Power Co | 3.100% | 6/01/25 | A | 130,791 | |
4,521 | Total Utility | 4,847,928 | ||||
$ 15,877 | Total Corporate Debt (cost $16,399,791) | 17,066,040 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SECURITIZED – 30.9% | ||||||
$ 202 | American Express Credit Account Master Trust | 2.200% | 4/15/25 | AA- | $207,804 | |
100 | BENCHMARK 2018-B1 Mortgage Trust | 3.571% | 1/15/51 | AAA | 104,120 | |
303 | CarMax Auto Owner Trust | 3.130% | 6/15/23 | AAA | 307,548 | |
95 | Carmax Auto Owner Trust 2020-1 | 1.890% | 12/16/24 | AAA | 97,440 | |
100 | CNH Equipment Trust 2019-C | 2.350% | 4/15/27 | Aa2 | 104,580 | |
120 | COMM 2012-CCRE1 Mortgage Trust | 3.912% | 5/15/45 | Aaa | 123,924 | |
549 | COMM 2014-CCRE16 Mortgage Trust | 3.775% | 4/10/47 | AAA | 590,660 | |
200 | COMM 2014-LC17 Mortgage Trust | 3.648% | 10/10/47 | Aaa | 217,346 | |
334 | Fannie Mae Pool BM3087 | 4.000% | 12/01/32 | N/R | 356,865 | |
117 | Fannie Mae Pool MA3392 | 3.500% | 6/01/33 | N/R | 124,860 | |
88 | Fannie Mae Pool MA3490 | 4.000% | 10/01/33 | N/R | 93,454 | |
206 | Fannie Mae Pool MA3798 | 3.000% | 10/01/34 | N/R | 217,769 | |
55 | Fannie Mae Pool MA3828 | 3.000% | 11/01/34 | N/R | 57,631 | |
61 | Fannie Mae Pool MA3897 | 3.000% | 1/01/35 | N/R | 64,392 | |
195 | Fannie Mae Pool MA3930 | 2.500% | 2/01/35 | N/R | 204,612 | |
1,084 | Fannie Mae Pool MA4012 | 2.000% | 5/01/35 | N/R | 1,133,289 | |
609 | Fannie Mae Pool MA4075 | 2.500% | 7/01/35 | N/R | 640,331 | |
1,471 | Fannie Mae Pool MA4123 | 2.000% | 9/01/35 | N/R | 1,537,091 | |
629 | Fannie Mae Pool MA4179 | 2.000% | 11/01/35 | N/R | 657,670 | |
474 | Fannie Mae Pool MA4206 | 2.000% | 12/01/35 | N/R | 495,153 | |
600 | Ford Credit Auto Owner Trust 2016-REV1, 144A | 2.310% | 8/15/27 | AAA | 600,483 | |
100 | Ford Credit Auto Owner Trust 2020-B | 1.190% | 1/15/26 | AA | 101,763 | |
500 | Ford Credit Floorplan Master Owner Trust A | 2.440% | 9/15/26 | AAA | 533,799 | |
198 | Freddie Mac Gold Pool G18642 | 3.500% | 4/01/32 | N/R | 212,666 | |
700 | Freddie Mac Multifamily Structured Pass-Through Certificates | 3.205% | 3/25/25 | AAA | 772,633 | |
713 | Freddie Mac Pool SB8040 | 2.500% | 4/01/35 | N/R | 748,881 | |
150 | GM Financial Consumer Automobile Receivables Trust 2020-1 | 2.180% | 5/16/25 | AA+ | 154,962 | |
300 | GS Mortgage Securities Trust 2019-GC38 | 3.872% | 2/10/52 | AAA | 323,163 | |
100 | Honda Auto Receivables 2020-3 Owner Trust | 0.370% | 10/18/24 | AAA | 100,284 | |
200 | JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16 | 4.166% | 12/15/46 | Aaa | 218,020 | |
50 | MMAF Equipment Finance LLC 2019-A, 144A | 2.930% | 3/10/26 | Aaa | 52,562 | |
300 | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26 | 3.531% | 10/15/48 | Aaa | 335,538 | |
160 | SoFi Professional Loan Program 2020-C Trust, 144A | 1.950% | 2/15/46 | AAA | 163,241 | |
250 | Synchrony Credit Card Master Note Trust | 2.210% | 5/15/24 | AAA | 251,468 | |
100 | Toyota Auto Receivables 2019-A Owner Trust | 3.000% | 5/15/24 | AAA | 104,640 | |
150 | Verizon Owner Trust 2019-A | 2.930% | 9/20/23 | AAA | 152,686 | |
150 | Wells Fargo Commercial Mortgage Trust 2016-C32 | 3.324% | 1/15/59 | Aaa | 159,526 | |
118 | WFRBS Commercial Mortgage Trust 2012-C7 | 4.090% | 6/15/45 | Aa1 | 122,795 | |
140 | WFRBS Commercial Mortgage Trust 2013-C12 | 3.863% | 3/15/48 | AA | 146,990 | |
$ 11,971 | Total Securitized (cost $12,406,426) | 12,592,639 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
U.S. TREASURY – 26.1% | ||||||
$ 336 | United States Treasury Note/Bond | 1.875% | 2/28/22 | AAA | $342,379 | |
268 | United States Treasury Note/Bond | 2.125% | 5/15/22 | AAA | 274,920 | |
633 | United States Treasury Note/Bond | 1.750% | 6/30/22 | AAA | 647,638 | |
1,400 | United States Treasury Note/Bond | 0.125% | 9/30/22 | AAA | 1,400,164 | |
2,884 | United States Treasury Note/Bond | 1.375% | 10/15/22 | AAA | 2,945,285 | |
211 | United States Treasury Note/Bond | 2.000% | 10/31/22 | AAA | 217,890 | |
128 | United States Treasury Note/Bond | 2.000% | 11/30/22 | AAA | 132,390 | |
337 | United States Treasury Note/Bond | 2.375% | 1/31/23 | AAA | 352,073 | |
542 | United States Treasury Note/Bond | 2.500% | 3/31/23 | AAA | 569,693 | |
113 | United States Treasury Note/Bond | 2.875% | 11/30/23 | AAA | 121,594 | |
113 | United States Treasury Note/Bond | 2.500% | 1/31/24 | AAA | 120,791 | |
332 | United States Treasury Note/Bond | 1.750% | 6/30/24 | AAA | 349,028 | |
70 | United States Treasury Note/Bond | 1.250% | 8/31/24 | AAA | 72,464 | |
1,681 | United States Treasury Note/Bond | 1.375% | 1/31/25 | AAA | 1,751,852 | |
167 | United States Treasury Note/Bond | 0.375% | 4/30/25 | AAA | 167,228 | |
350 | United States Treasury Note/Bond | 0.250% | 5/31/25 | AAA | 348,455 | |
650 | United States Treasury Note/Bond | 0.250% | 7/31/25 | AAA | 646,318 | |
200 | United States Treasury Note/Bond | 0.375% | 12/31/25 | Aaa | 199,437 | |
$ 10,415 | Total U.S. Treasury (cost $10,561,387) | 10,659,599 | ||||
Total Long-Term Investments (cost $39,367,604) | 40,318,278 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SHORT-TERM INVESTMENTS – 1.1% | ||||||
U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.1% | ||||||
$ 456 | Federal Agricultural Mortgage Corp Discount Notes | 0.000% | 2/01/21 | N/R | $ 456,000 | |
$ 456 | Total Short-Term Investments (cost $456,000) | 456,000 | ||||
Total Investments (cost $39,823,604) – 99.9% | 40,774,278 | |||||
Other Assets Less Liabilities – 0.1% | 43,427 | |||||
Net Assets – 100% | $ 40,817,705 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | The Fund uses credit quality ratings for its portfolio securities provided by Moody's, S&P and Fitch. If all three of Moody's, S&P, and Fitch provide a rating for a security, an average of the ratings is used; if two of the three agencies rate a security, an average of the two is used; and if only one rating agency rates a security, that rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Credit ratings are subject to change. Holdings designated N/R are not rated by Moody's, S&P or Fitch. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
LONG-TERM INVESTMENTS – 97.9% | ||||||
CORPORATE DEBT – 97.9% | ||||||
Financials – 7.2% | ||||||
$ 150 | Ally Financial Inc | 5.750% | 11/20/25 | BB+ | $174,542 | |
260 | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 144A | 5.750% | 5/15/26 | BB+ | 270,400 | |
470 | Centene Corp, 144A | 5.375% | 6/01/26 | BB+ | 493,500 | |
60 | Centene Corp, 144A | 5.375% | 8/15/26 | BBB- | 62,925 | |
150 | Centene Corp | 4.250% | 12/15/27 | BB+ | 158,683 | |
1,400 | Centene Corp | 4.625% | 12/15/29 | BB+ | 1,552,187 | |
130 | ESH Hospitality Inc, 144A | 5.250% | 5/01/25 | BB- | 132,600 | |
240 | Intesa Sanpaolo SpA, 144A | 5.710% | 1/15/26 | BB+ | 271,661 | |
150 | MGIC Investment Corp | 5.250% | 8/15/28 | BB+ | 160,500 | |
100 | Molina Healthcare Inc, 144A | 4.375% | 6/15/28 | BB- | 104,555 | |
210 | MPT Operating Partnership LP / MPT Finance Corp | 4.625% | 8/01/29 | BBB- | 224,589 | |
800 | Nationstar Mortgage Holdings Inc, 144A | 5.125% | 12/15/30 | B | 830,000 | |
300 | OneMain Finance Corp | 6.875% | 3/15/25 | BB- | 344,250 | |
300 | PennyMac Financial Services Inc, 144A | 5.375% | 10/15/25 | B+ | 314,250 | |
260 | UniCredit SpA, 144A | 5.459% | 6/30/35 | BB+ | 279,323 | |
4,980 | Total Financials | 5,373,965 | ||||
Industrial – 89.6% | ||||||
1,000 | 1011778 BC ULC / New Red Finance Inc, 144A | 3.875% | 1/15/28 | BB+ | 1,014,800 | |
210 | AECOM | 5.125% | 3/15/27 | BB | 234,927 | |
150 | Air Methods Corp, 144A | 8.000% | 5/15/25 | CCC | 135,750 | |
100 | Altera Infrastructure LP/Teekay Offshore Finance Corp, 144A | 8.500% | 7/15/23 | B- | 91,269 | |
200 | Altice France Holding SA, 144A | 6.000% | 2/15/28 | CCC+ | 201,500 | |
300 | American Axle & Manufacturing Inc | 6.250% | 4/01/25 | B | 309,000 | |
150 | AmeriGas Partners LP / AmeriGas Finance Corp | 5.625% | 5/20/24 | Ba2 | 165,031 | |
170 | AmeriGas Partners LP / AmeriGas Finance Corp | 5.500% | 5/20/25 | Ba2 | 187,000 | |
140 | AmeriGas Partners LP / AmeriGas Finance Corp | 5.875% | 8/20/26 | Ba2 | 160,647 | |
170 | Antero Midstream Partners LP / Antero Midstream Finance Corp | 5.375% | 9/15/24 | B | 170,306 | |
170 | Antero Midstream Partners LP / Antero Midstream Finance Corp, 144A | 5.750% | 3/01/27 | B | 169,543 | |
170 | Aramark Services Inc, 144A | 5.000% | 4/01/25 | B+ | 174,624 | |
410 | Aramark Services Inc, 144A | 5.000% | 2/01/28 | B+ | 427,425 | |
650 | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc, 144A | 5.250% | 8/15/27 | B | 675,512 | |
120 | ASGN Inc, 144A | 4.625% | 5/15/28 | BB- | 124,070 | |
180 | Atento Luxco 1 SA, 144A | 6.125% | 8/10/22 | Ba3 | 179,642 | |
450 | Avantor Funding Inc, 144A | 4.625% | 7/15/28 | B | 473,715 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 1,160 | Avaya Inc, 144A | 6.125% | 9/15/28 | B | $1,235,400 | |
800 | Bausch Health Cos Inc, 144A | 7.000% | 1/15/28 | B | 865,760 | |
270 | Beacon Roofing Supply Inc, 144A | 4.875% | 11/01/25 | B- | 273,432 | |
190 | Bombardier Inc, 144A | 7.875% | 4/15/27 | CCC | 178,019 | |
950 | Cable One Inc, 144A | 4.000% | 11/15/30 | BB- | 978,500 | |
250 | Camelot Finance SA, 144A | 4.500% | 11/01/26 | B | 260,000 | |
240 | Catalent Pharma Solutions Inc, 144A | 5.000% | 7/15/27 | BB- | 252,900 | |
440 | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op | 5.375% | 4/15/27 | B- | 441,100 | |
110 | Cengage Learning Inc, 144A | 9.500% | 6/15/24 | CCC | 108,075 | |
210 | Century Communities Inc | 6.750% | 6/01/27 | B+ | 224,700 | |
120 | Cheniere Energy Partners LP | 5.625% | 10/01/26 | BB | 125,100 | |
150 | Clean Harbors Inc, 144A | 4.875% | 7/15/27 | BB+ | 157,931 | |
340 | Clear Channel Worldwide Holdings Inc | 9.250% | 2/15/24 | CCC | 353,282 | |
100 | CommScope Inc, 144A | 5.500% | 3/01/24 | BB- | 102,750 | |
640 | CommScope Inc, 144A | 6.000% | 3/01/26 | BB- | 677,600 | |
240 | CommScope Inc, 144A | 8.250% | 3/01/27 | B- | 258,000 | |
312 | CommScope Technologies LLC, 144A | 6.000% | 6/15/25 | B- | 318,240 | |
210 | CommScope Technologies LLC, 144A | 5.000% | 3/15/27 | B- | 208,162 | |
120 | Cornerstone Building Brands Inc, 144A | 8.000% | 4/15/26 | B- | 125,400 | |
160 | Coty Inc, 144A | 6.500% | 4/15/26 | B- | 151,200 | |
130 | Darling Ingredients Inc, 144A | 5.250% | 4/15/27 | BB+ | 137,475 | |
250 | DaVita Inc, 144A | 3.750% | 2/15/31 | BB- | 247,969 | |
280 | DCP Midstream Operating LP | 5.375% | 7/15/25 | BB+ | 299,516 | |
300 | Delta Air Lines Inc | 7.375% | 1/15/26 | BB+ | 344,464 | |
260 | Diamond Sports Group LLC / Diamond Sports Finance Co, 144A | 5.375% | 8/15/26 | BB- | 209,950 | |
102 | Dun & Bradstreet Corp, 144A | 10.250% | 2/15/27 | B- | 113,985 | |
160 | Edgewell Personal Care Co, 144A | 5.500% | 6/01/28 | BB | 171,157 | |
360 | Elanco Animal Health Inc | 5.272% | 8/28/23 | BB | 388,800 | |
290 | Encompass Health Corp | 4.500% | 2/01/28 | B+ | 301,962 | |
510 | Energizer Holdings Inc, 144A | 4.375% | 3/31/29 | B+ | 521,475 | |
220 | EnLink Midstream Partners LP | 4.150% | 6/01/25 | BB+ | 213,950 | |
160 | Entegris Inc, 144A | 4.625% | 2/10/26 | BB | 165,700 | |
200 | Eurochem Finance DAC | 5.500% | 3/13/24 | Ba2 | 219,998 | |
210 | Flex Acquisition Co Inc, 144A | 7.875% | 7/15/26 | CCC+ | 219,450 | |
360 | Gap Inc, 144A | 8.875% | 5/15/27 | BB | 420,300 | |
260 | Gartner Inc, 144A | 4.500% | 7/01/28 | BB | 274,222 | |
140 | Gates Global LLC / Gates Corp, 144A | 6.250% | 1/15/26 | B | 147,000 | |
600 | Global Medical Response Inc, 144A | 6.500% | 10/01/25 | B | 619,950 | |
50 | Gray Television Inc, 144A | 5.875% | 7/15/26 | B+ | 51,875 | |
250 | Gray Television Inc, 144A | 7.000% | 5/15/27 | B+ | 273,237 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 400 | Gray Television Inc, 144A | 4.750% | 10/15/30 | B+ | $399,000 | |
600 | Greif Inc, 144A | 6.500% | 3/01/27 | B+ | 639,750 | |
130 | GrubHub Holdings Inc, 144A | 5.500% | 7/01/27 | BB- | 136,825 | |
200 | H&E Equipment Services Inc, 144A | 3.875% | 12/15/28 | BB- | 199,110 | |
220 | Hanesbrands Inc, 144A | 4.625% | 5/15/24 | BB | 232,189 | |
160 | Hanesbrands Inc, 144A | 4.875% | 5/15/26 | BB | 173,200 | |
280 | HCA Inc | 5.375% | 2/01/25 | BB | 314,367 | |
110 | HCA Inc | 5.875% | 2/15/26 | BB | 125,813 | |
910 | HCA Inc | 3.500% | 9/01/30 | BB | 943,375 | |
310 | Herc Holdings Inc, 144A | 5.500% | 7/15/27 | B+ | 326,802 | |
490 | Hilton Domestic Operating Co Inc | 5.125% | 5/01/26 | BB | 507,983 | |
310 | Hilton Domestic Operating Co Inc | 4.875% | 1/15/30 | BB | 334,157 | |
130 | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp | 4.875% | 4/01/27 | BB | 135,944 | |
150 | Hologic Inc, 144A | 3.250% | 2/15/29 | BB | 152,250 | |
300 | Horizon Therapeutics USA Inc, 144A | 5.500% | 8/01/27 | BB- | 319,500 | |
310 | Howard Hughes Corp, 144A | 5.375% | 8/01/28 | BB- | 327,362 | |
200 | Howmet Aerospace Inc | 6.875% | 5/01/25 | BB+ | 233,500 | |
190 | Hughes Satellite Systems Corp | 5.250% | 8/01/26 | BBB- | 210,672 | |
60 | Hughes Satellite Systems Corp | 6.625% | 8/01/26 | BB | 67,822 | |
260 | IAA Inc, 144A | 5.500% | 6/15/27 | B | 273,026 | |
1,050 | iHeartCommunications Inc | 8.375% | 5/01/27 | CCC+ | 1,119,951 | |
700 | IHS Markit Ltd | 4.750% | 8/01/28 | Baa2 | 841,785 | |
140 | Iron Mountain Inc, 144A | 4.875% | 9/15/27 | BB- | 146,679 | |
110 | Iron Mountain Inc, 144A | 5.250% | 3/15/28 | BB- | 115,775 | |
300 | Iron Mountain Inc, 144A | 4.875% | 9/15/29 | BB- | 312,600 | |
170 | KAR Auction Services Inc, 144A | 5.125% | 6/01/25 | B- | 174,462 | |
700 | Kraft Heinz Foods Co | 3.000% | 6/01/26 | BBB- | 739,848 | |
850 | Kraft Heinz Foods Co | 4.625% | 1/30/29 | BBB- | 969,957 | |
200 | Lamb Weston Holdings Inc, 144A | 4.875% | 5/15/28 | BB+ | 221,440 | |
300 | Level 3 Financing Inc, 144A | 4.250% | 7/01/28 | BB | 308,340 | |
400 | Lumen Technologies Inc, 144A | 4.000% | 2/15/27 | BB+ | 413,609 | |
250 | Macy's Inc, 144A | 8.375% | 6/15/25 | BB+ | 276,875 | |
240 | Marriott Ownership Resorts Inc / ILG LLC | 6.500% | 9/15/26 | B+ | 249,638 | |
150 | Masonite International Corp, 144A | 5.375% | 2/01/28 | BB+ | 160,592 | |
400 | MEDNAX Inc, 144A | 6.250% | 1/15/27 | B+ | 428,000 | |
150 | Methanex Corp | 5.250% | 12/15/29 | BB | 157,031 | |
100 | MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc | 5.625% | 5/01/24 | BB- | 107,788 | |
60 | MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc | 5.750% | 2/01/27 | BB+ | 67,466 | |
210 | Michaels Stores Inc, 144A | 8.000% | 7/15/27 | B | 225,057 | |
1,080 | Navistar International Corp, 144A | 6.625% | 11/01/25 | CCC+ | 1,125,792 | |
250 | NCL Corp Ltd, 144A | 10.250% | 2/01/26 | BB- | 288,750 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 370 | NCR Corp, 144A | 5.750% | 9/01/27 | BB- | $388,500 | |
240 | NCR Corp, 144A | 6.125% | 9/01/29 | BB- | 258,600 | |
70 | Netflix Inc | 4.375% | 11/15/26 | BB+ | 80,042 | |
110 | Netflix Inc | 4.875% | 4/15/28 | BB+ | 129,289 | |
130 | Netflix Inc | 5.875% | 11/15/28 | BB+ | 163,150 | |
220 | Netflix Inc | 6.375% | 5/15/29 | BB+ | 284,489 | |
70 | Netflix Inc, 144A | 5.375% | 11/15/29 | BB+ | 87,325 | |
650 | Newell Brands Inc | 4.875% | 6/01/25 | BB+ | 715,812 | |
700 | Nielsen Co Luxembourg SARL, 144A | 5.000% | 2/01/25 | BB- | 719,250 | |
1,400 | Nielsen Finance LLC / Nielsen Finance Co, 144A | 5.625% | 10/01/28 | BB- | 1,498,595 | |
360 | Nokia Oyj | 4.375% | 6/12/27 | BB+ | 397,627 | |
220 | NortonLifeLock Inc, 144A | 5.000% | 4/15/25 | BB- | 223,916 | |
200 | Ortho-Clinical Diagnostics Inc / Ortho-Clinical Diagnostics SA, 144A | 7.250% | 2/01/28 | CCC | 214,000 | |
400 | Outfront Media Capital LLC / Outfront Media Capital Corp, 144A | 5.000% | 8/15/27 | B+ | 412,320 | |
100 | Owens-Brockway Glass Container Inc, 144A | 5.875% | 8/15/23 | B | 107,000 | |
100 | Parkland Corp/Canada, 144A, (3) | 6.000% | 4/01/26 | BB | 105,000 | |
110 | Parkland Corp/Canada, 144A | 5.875% | 7/15/27 | BB | 117,700 | |
70 | PBF Holding Co LLC / PBF Finance Corp | 7.250% | 6/15/25 | B+ | 46,454 | |
400 | Performance Food Group Inc, 144A | 5.500% | 10/15/27 | B | 422,388 | |
600 | Post Holdings Inc, 144A | 5.625% | 1/15/28 | B+ | 636,750 | |
350 | Post Holdings Inc, 144A | 4.625% | 4/15/30 | B+ | 364,518 | |
550 | Prime Security Services Borrower LLC / Prime Finance Inc, 144A | 5.750% | 4/15/26 | BB- | 602,140 | |
1,300 | Prime Security Services Borrower LLC / Prime Finance Inc, 144A | 6.250% | 1/15/28 | B- | 1,384,500 | |
150 | Qorvo Inc | 4.375% | 10/15/29 | BB+ | 163,687 | |
130 | Ritchie Bros Auctioneers Inc, 144A | 5.375% | 1/15/25 | BB+ | 133,738 | |
150 | Rite Aid Corp, 144A | 8.000% | 11/15/26 | CCC+ | 161,250 | |
800 | Royal Caribbean Cruises Ltd, 144A | 9.125% | 6/15/23 | BB- | 866,000 | |
300 | Sabre GLBL Inc, 144A | 9.250% | 4/15/25 | BB- | 355,935 | |
170 | Sally Holdings LLC / Sally Capital Inc | 5.625% | 12/01/25 | BB- | 174,951 | |
570 | SBA Communications Corp | 4.000% | 10/01/22 | BB- | 575,928 | |
600 | SBA Communications Corp | 4.875% | 9/01/24 | BB- | 615,966 | |
300 | Scripps Escrow II Inc, 144A | 5.375% | 1/15/31 | CCC+ | 303,000 | |
400 | Seagate HDD Cayman, 144A | 4.091% | 6/01/29 | BB+ | 416,332 | |
1,230 | Select Medical Corp, 144A | 6.250% | 8/15/26 | B- | 1,315,940 | |
240 | Sensata Technologies UK Financing Co PLC, 144A | 6.250% | 2/15/26 | BB+ | 247,879 | |
110 | Service Corp International/US | 4.625% | 12/15/27 | BB | 117,255 | |
270 | Service Corp International/US | 5.125% | 6/01/29 | BB | 297,165 | |
150 | Signature Aviation US Holdings Inc, 144A | 5.375% | 5/01/26 | BB | 153,705 | |
220 | Sirius XM Radio Inc, 144A | 3.875% | 8/01/22 | BB | 222,244 | |
280 | Sirius XM Radio Inc, 144A | 4.625% | 7/15/24 | BB | 289,509 | |
210 | Sirius XM Radio Inc, 144A | 5.375% | 7/15/26 | BB | 218,085 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 300 | Sirius XM Radio Inc, 144A | 5.000% | 8/01/27 | BB | $315,666 | |
260 | Sirius XM Radio Inc, 144A | 5.500% | 7/01/29 | BB | 283,483 | |
236 | Six Flags Entertainment Corp, 144A | 5.500% | 4/15/27 | B- | 238,431 | |
200 | Sotheby's, 144A, (3) | 7.375% | 10/15/27 | B+ | 217,000 | |
250 | Spirit AeroSystems Inc, 144A | 7.500% | 4/15/25 | B+ | 268,177 | |
650 | Summit Materials LLC / Summit Materials Finance Corp, 144A | 5.250% | 1/15/29 | BB | 684,125 | |
380 | Sunoco LP / Sunoco Finance Corp | 6.000% | 4/15/27 | BB- | 402,325 | |
20 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp, 144A | 5.500% | 9/15/24 | BB- | 20,369 | |
70 | Targa Resources Partners LP / Targa Resources Partners Finance Corp | 6.500% | 7/15/27 | BB | 75,250 | |
70 | Targa Resources Partners LP / Targa Resources Partners Finance Corp | 5.000% | 1/15/28 | BB | 72,275 | |
70 | Targa Resources Partners LP / Targa Resources Partners Finance Corp | 6.875% | 1/15/29 | BB | 77,263 | |
400 | TEGNA Inc | 5.000% | 9/15/29 | BB- | 416,244 | |
260 | Tenet Healthcare Corp | 6.750% | 6/15/23 | CCC+ | 282,100 | |
380 | Tenet Healthcare Corp, 144A | 4.875% | 1/01/26 | B+ | 396,389 | |
280 | Tenet Healthcare Corp, 144A | 5.125% | 11/01/27 | B+ | 295,400 | |
230 | Tenet Healthcare Corp, 144A | 4.625% | 6/15/28 | B+ | 241,500 | |
260 | Tenneco Inc, (3) | 5.000% | 7/15/26 | B- | 239,850 | |
200 | Terex Corp, 144A | 5.625% | 2/01/25 | BB- | 204,750 | |
140 | Tesla Inc, 144A | 5.300% | 8/15/25 | BB | 145,733 | |
450 | TransDigm Inc | 6.375% | 6/15/26 | B- | 464,625 | |
200 | TreeHouse Foods Inc | 4.000% | 9/01/28 | BB- | 202,000 | |
770 | Trinseo Materials Operating SCA / Trinseo Materials Finance Inc, 144A | 5.375% | 9/01/25 | B | 789,250 | |
200 | Triumph Group Inc, 144A | 6.250% | 9/15/24 | CCC | 197,125 | |
800 | Trivium Packaging Finance BV, 144A | 5.500% | 8/15/26 | B | 843,460 | |
170 | Under Armour Inc | 3.250% | 6/15/26 | BB | 170,388 | |
200 | United Natural Foods Inc, 144A | 6.750% | 10/15/28 | B- | 211,540 | |
270 | United Rentals North America Inc | 5.875% | 9/15/26 | BB- | 284,499 | |
300 | United Rentals North America Inc | 4.875% | 1/15/28 | BB- | 319,875 | |
180 | United Rentals North America Inc | 5.250% | 1/15/30 | BB- | 199,350 | |
300 | United Rentals North America Inc | 4.000% | 7/15/30 | BB- | 316,500 | |
90 | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC, 144A | 7.125% | 12/15/24 | CCC | 92,475 | |
320 | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC, 144A | 7.875% | 2/15/25 | B | 344,802 | |
90 | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC, 144A | 6.000% | 4/15/23 | B | 91,913 | |
190 | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC | 8.250% | 10/15/23 | CCC | 192,585 | |
400 | UPC Holding BV, 144A | 5.500% | 1/15/28 | B | 418,000 | |
59 | US Concrete Inc | 6.375% | 6/01/24 | BB- | 60,549 | |
470 | US Foods Inc, 144A | 5.875% | 6/15/24 | B+ | 476,956 | |
170 | USA Compression Partners LP / USA Compression Finance Corp | 6.875% | 9/01/27 | B+ | 181,448 | |
210 | Valvoline Inc, 144A | 4.250% | 2/15/30 | BB- | 219,450 | |
300 | VEON Holdings BV | 7.250% | 4/26/23 | BB+ | 329,738 | |
200 | VEON Holdings BV, 144A | 3.375% | 11/25/27 | BBB- | 205,100 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 130 | VeriSign Inc | 5.250% | 4/01/25 | BBB- | $146,738 | |
70 | VeriSign Inc | 4.750% | 7/15/27 | BBB- | 74,381 | |
320 | VICI Properties LP / VICI Note Co Inc, 144A | 3.750% | 2/15/27 | BB | 324,800 | |
450 | VICI Properties LP / VICI Note Co Inc, 144A | 4.625% | 12/01/29 | BB | 478,125 | |
400 | Virgin Media Finance PLC, 144A | 5.000% | 7/15/30 | B | 411,500 | |
350 | Virgin Media Secured Finance PLC, 144A | 5.500% | 5/15/29 | BB- | 377,324 | |
300 | Vodafone Group PLC | 7.000% | 4/04/79 | BB+ | 372,599 | |
471 | WESCO Distribution Inc, 144A | 7.250% | 6/15/28 | BB- | 529,105 | |
150 | Western Digital Corp | 4.750% | 2/15/26 | BB+ | 166,312 | |
410 | Western Midstream Operating LP | 5.300% | 2/01/30 | BB | 451,000 | |
1,100 | Williams Scotsman International Inc, 144A | 4.625% | 8/15/28 | B+ | 1,133,000 | |
130 | Wyndham Hotels & Resorts Inc, 144A | 5.375% | 4/15/26 | BB | 133,088 | |
200 | Xerox Corp | 4.375% | 3/15/23 | BB+ | 210,000 | |
300 | Xerox Holdings Corp, 144A | 5.500% | 8/15/28 | BB+ | 309,285 | |
300 | Yum! Brands Inc, 144A | 4.750% | 1/15/30 | B+ | 322,020 | |
300 | Zayo Group Holdings Inc, 144A | 6.125% | 3/01/28 | CCC+ | 312,050 | |
340 | Ziggo Bond Co BV, 144A | 6.000% | 1/15/27 | B- | 356,150 | |
1,100 | Ziggo BV, 144A | 4.875% | 1/15/30 | B+ | 1,152,915 | |
63,190 | Total Industrial | 66,773,113 | ||||
Utility – 1.1% | ||||||
200 | Clearway Energy Operating LLC, 144A | 4.750% | 3/15/28 | BB | 215,272 | |
160 | Drax Finco PLC, 144A | 6.625% | 11/01/25 | BB+ | 166,200 | |
100 | Enviva Partners LP / Enviva Partners Finance Corp, 144A | 6.500% | 1/15/26 | B+ | 105,355 | |
300 | FirstEnergy Corp | 4.400% | 7/15/27 | BB+ | 327,750 | |
760 | Total Utility | 814,577 | ||||
$ 68,930 | Total Corporate Debt (cost $71,211,711) | 72,961,655 | ||||
Total Long-Term Investments (cost $71,211,711) | 72,961,655 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.7% | ||||||
MONEY MARKET FUNDS – 0.7% | ||||||
531,294 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.060% (5) | $ 531,294 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $531,294) | 531,294 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SHORT-TERM INVESTMENTS – 1.6% | ||||||
U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.6% | ||||||
$ 1,170 | Federal Agricultural Mortgage Corp Discount Notes | 0.000% | 2/01/21 | N/R | $ 1,170,000 | |
$ 1,170 | Total Short-Term Investments (cost $1,170,000) | 1,170,000 | ||||
Total Investments (cost $72,913,005) – 100.2% | 74,662,949 | |||||
Other Assets Less Liabilities – (0.2)% | (184,359) | |||||
Net Assets – 100% | $ 74,478,590 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | The Fund uses credit quality ratings for its portfolio securities provided by Moody's, S&P and Fitch. If all three of Moody's, S&P, and Fitch provide a rating for a security, the middle is used; if two of the three agencies rate a security, the lower rating is used; and if only one rating agency rates a security, that rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Credit ratings are subject to change. Holdings designated N/R are not rated by Moody's, S&P or Fitch. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $515,888. | |
(4) | The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(5) | The rate shown is the one-day yield as of the end of the reporting period. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
REIT | Real Estate Investment Trust |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
LONG-TERM INVESTMENTS – 99.2% | ||||||
U.S. TREASURY – 36.7% | ||||||
$ 2,500 | United States Treasury Note/Bond | 0.125% | 6/30/22 | AAA | $2,500,586 | |
1,000 | United States Treasury Note/Bond | 0.125% | 7/31/22 | AAA | 1,000,195 | |
2,100 | United States Treasury Note/Bond | 0.125% | 8/31/22 | AAA | 2,100,410 | |
9,205 | United States Treasury Note/Bond | 1.875% | 9/30/22 | AAA | 9,473,239 | |
250 | United States Treasury Note/Bond | 0.125% | 9/30/22 | AAA | 250,029 | |
400 | United States Treasury Note/Bond | 1.500% | 1/15/23 | AAA | 410,672 | |
1,248 | United States Treasury Note/Bond | 2.750% | 7/31/23 | AAA | 1,328,779 | |
1,346 | United States Treasury Note/Bond | 2.875% | 11/30/23 | AAA | 1,448,370 | |
1,411 | United States Treasury Note/Bond | 2.500% | 1/31/24 | AAA | 1,508,282 | |
1,814 | United States Treasury Note/Bond | 2.250% | 4/30/24 | AAA | 1,933,044 | |
4,872 | United States Treasury Note/Bond | 2.000% | 5/31/24 | AAA | 5,158,230 | |
262 | United States Treasury Note/Bond | 1.250% | 8/31/24 | AAA | 271,221 | |
3,090 | United States Treasury Note/Bond | 2.125% | 9/30/24 | AAA | 3,298,575 | |
1,454 | United States Treasury Note/Bond | 2.125% | 11/30/24 | AAA | 1,555,439 | |
2,824 | United States Treasury Note/Bond | 1.375% | 1/31/25 | AAA | 2,943,027 | |
1,500 | United States Treasury Note/Bond | 0.250% | 5/31/25 | AAA | 1,493,379 | |
950 | United States Treasury Note/Bond | 0.250% | 8/31/25 | AAA | 944,062 | |
3,900 | United States Treasury Note/Bond | 0.250% | 9/30/25 | AAA | 3,872,883 | |
800 | United States Treasury Note/Bond | 0.250% | 10/31/25 | AAA | 793,938 | |
1,820 | United States Treasury Note/Bond | 0.375% | 11/30/25 | AAA | 1,816,019 | |
1,300 | United States Treasury Note/Bond | 0.375% | 12/31/25 | Aaa | 1,296,344 | |
900 | United States Treasury Note/Bond | 0.500% | 6/30/27 | AAA | 889,664 | |
2,186 | United States Treasury Note/Bond | 2.250% | 8/15/27 | AAA | 2,403,917 | |
888 | United States Treasury Note/Bond | 2.250% | 11/15/27 | AAA | 976,835 | |
2,344 | United States Treasury Note/Bond | 2.750% | 2/15/28 | AAA | 2,662,180 | |
1,470 | United States Treasury Note/Bond | 2.375% | 5/15/29 | AAA | 1,639,624 | |
514 | United States Treasury Note/Bond | 1.625% | 8/15/29 | AAA | 542,370 | |
1,200 | United States Treasury Note/Bond | 0.625% | 5/15/30 | AAA | 1,154,812 | |
2,200 | United States Treasury Note/Bond | 0.625% | 8/15/30 | AAA | 2,110,625 | |
1,550 | United States Treasury Note/Bond | 0.875% | 11/15/30 | AAA | 1,518,758 | |
200 | United States Treasury Note/Bond | 1.125% | 8/15/40 | AAA | 182,000 | |
3,150 | United States Treasury Note/Bond | 1.375% | 11/15/40 | AAA | 2,993,977 | |
1,964 | United States Treasury Note/Bond | 2.750% | 8/15/42 | AAA | 2,341,763 | |
4,571 | United States Treasury Note/Bond | 2.750% | 8/15/47 | AAA | 5,484,664 | |
2,050 | United States Treasury Note/Bond | 1.250% | 5/15/50 | AAA | 1,766,203 | |
1,000 | United States Treasury Note/Bond | 1.375% | 8/15/50 | AAA | 890,156 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
$ 200 | United States Treasury Note/Bond | 1.625% | 11/15/50 | AAA | $ 189,344 | |
$ 70,433 | Total U.S. Treasury (cost $71,415,000) | 73,143,615 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SECURITIZED – 29.4% | ||||||
$ 200 | BANK 2019-BN19 | 2.926% | 8/15/61 | AAA | $216,488 | |
500 | BBCMS Mortgage Trust 2020-C6 | 2.690% | 2/15/53 | AAA | 528,047 | |
367 | Capital One Multi-Asset Execution Trust | 1.720% | 8/15/24 | AAA | 375,505 | |
95 | Carmax Auto Owner Trust 2020-1 | 1.890% | 12/16/24 | AAA | 97,440 | |
100 | Citibank Credit Card Issuance Trust | 3.290% | 5/23/25 | AAA | 106,986 | |
180 | Citigroup Commercial Mortgage Trust 2016-C1 | 3.209% | 5/10/49 | Aaa | 199,379 | |
500 | COMM 2015-LC19 Mortgage Trust | 3.183% | 2/10/48 | Aaa | 545,480 | |
555 | Fannie Mae Pool MA2941 | 3.500% | 3/01/32 | N/R | 596,487 | |
723 | Fannie Mae Pool MA3120 | 3.500% | 9/01/47 | Aaa | 772,991 | |
1,731 | Fannie Mae Pool MA3143 | 3.000% | 9/01/47 | N/R | 1,830,090 | |
175 | Fannie Mae Pool MA3392 | 3.500% | 6/01/33 | N/R | 186,329 | |
386 | Fannie Mae Pool MA3490 | 4.000% | 10/01/33 | N/R | 411,199 | |
292 | Fannie Mae Pool MA3536 | 4.000% | 12/01/48 | Aaa | 313,682 | |
459 | Fannie Mae Pool MA3574 | 3.500% | 1/01/49 | N/R | 487,700 | |
2,653 | Fannie Mae Pool MA3774 | 3.000% | 9/01/49 | Aaa | 2,788,725 | |
137 | Fannie Mae Pool MA3828 | 3.000% | 11/01/34 | N/R | 144,078 | |
288 | Fannie Mae Pool MA3865 | 3.000% | 12/01/34 | N/R | 303,875 | |
1,704 | Fannie Mae Pool MA3905 | 3.000% | 1/01/50 | N/R | 1,792,574 | |
396 | Fannie Mae Pool MA3957 | 3.500% | 3/01/35 | N/R | 420,853 | |
3,877 | Fannie Mae Pool MA3960 | 3.000% | 3/01/50 | N/R | 4,076,954 | |
1,074 | Fannie Mae Pool MA4074 | 2.000% | 7/01/35 | N/R | 1,122,577 | |
4,225 | Fannie Mae Pool MA4077 | 2.000% | 7/01/50 | N/R | 4,359,348 | |
889 | Fannie Mae Pool MA4096 | 2.500% | 8/01/50 | N/R | 936,338 | |
1,829 | Fannie Mae Pool MA4120 | 2.500% | 9/01/50 | N/R | 1,925,928 | |
3,314 | Fannie Mae Pool MA4158 | 2.000% | 10/01/50 | N/R | 3,419,047 | |
1,833 | Fannie Mae Pool MA4159 | 2.500% | 10/01/50 | N/R | 1,929,837 | |
2,738 | Fannie Mae Pool MA4182 | 2.000% | 11/01/50 | N/R | 2,824,751 | |
1,697 | Fannie Mae Pool MA4183 | 2.500% | 11/01/50 | N/R | 1,786,450 | |
1,738 | Fannie Mae Pool MA4208 | 2.000% | 12/01/50 | N/R | 1,793,610 | |
2,367 | Fannie Mae Pool MA4238 | 2.500% | 1/01/51 | AAA | 2,491,453 | |
1,160 | Fannie Mae Pool MA4255 | 2.000% | 2/01/51 | N/R | 1,196,821 | |
2,130 | Fannie Mae Pool MA4256, (WI/DD) | 2.500% | 2/01/51 | N/R | 2,242,385 | |
200 | Fannie Mae-Aces | 3.052% | 3/25/28 | N/R | 225,448 | |
250 | Fannie Mae-Aces | 3.370% | 7/25/28 | N/R | 288,644 | |
100 | Ford Credit Floorplan Master Owner Trust A | 2.480% | 9/15/24 | AAA | 103,372 | |
800 | Freddie Mac Multifamily Structured Pass-Through Certificates | 2.862% | 5/25/26 | AAA | 878,872 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
$ 345 | Freddie Mac Multifamily Structured Pass-Through Certificates | 2.701% | 4/25/29 | AAA | $375,894 | |
584 | Freddie Mac Pool SD8080 | 2.000% | 6/01/50 | N/R | 602,715 | |
1,083 | Ginnie Mae II Pool MA3663 | 3.500% | 5/20/46 | Aaa | 1,172,375 | |
179 | Ginnie Mae II Pool MA5264 | 4.000% | 6/20/48 | Aaa | 192,442 | |
199 | Ginnie Mae II Pool MA5398 | 4.000% | 8/20/48 | Aaa | 214,736 | |
1,163 | Ginnie Mae II Pool MA6038 | 3.000% | 7/20/49 | N/R | 1,218,774 | |
534 | Ginnie Mae II Pool MA6283 | 3.000% | 11/20/49 | N/R | 561,486 | |
3,269 | Ginnie Mae II Pool MA6338 | 3.000% | 12/20/49 | N/R | 3,426,874 | |
926 | Ginnie Mae II Pool MA6819 | 2.500% | 8/20/50 | N/R | 974,905 | |
186 | Ginnie Mae II Pool MA6820 | 3.000% | 8/20/50 | N/R | 195,398 | |
1,105 | Ginnie Mae II Pool MA6864 | 2.000% | 9/20/50 | N/R | 1,146,786 | |
1,223 | Ginnie Mae II Pool MA6865 | 2.500% | 9/20/50 | N/R | 1,286,537 | |
144 | Ginnie Mae II Pool MA6931 | 2.500% | 10/20/50 | N/R | 151,093 | |
472 | Ginnie Mae II Pool MA6995 | 2.500% | 11/20/50 | N/R | 497,028 | |
663 | Ginnie Mae II Pool MA7051 | 2.000% | 12/20/50 | N/R | 688,256 | |
236 | Ginnie Mae II Pool MA7052 | 2.500% | 12/20/50 | N/R | 248,733 | |
385 | Ginnie Mae II Pool MA7135 | 2.000% | 1/20/51 | N/R | 399,584 | |
710 | Ginnie Mae II Pool MA7136, (DD1) | 2.500% | 1/20/51 | N/R | 746,656 | |
200 | GS Mortgage Securities Trust 2019-GC38 | 3.968% | 2/10/52 | AAA | 234,959 | |
300 | Wells Fargo Commercial Mortgage Trust 2016-C32 | 3.324% | 1/15/59 | Aaa | 319,052 | |
300 | Wells Fargo Commercial Mortgage Trust 2019-C49 | 3.760% | 3/15/52 | Aaa | 344,353 | |
$ 55,868 | Total Securitized (cost $57,880,272) | 58,718,379 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
CORPORATE DEBT – 26.9% | ||||||
Financials – 8.3% | ||||||
$ 250 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.150% | 2/15/24 | BBB- | $261,945 | |
100 | Aflac Inc | 3.600% | 4/01/30 | A- | 114,986 | |
150 | Alexandria Real Estate Equities Inc | 3.375% | 8/15/31 | BBB+ | 169,703 | |
71 | Allstate Corp | 4.500% | 6/15/43 | A- | 92,744 | |
110 | Ally Financial Inc | 8.000% | 11/01/31 | BBB- | 159,521 | |
301 | American Express Co | 3.400% | 2/27/23 | A- | 319,166 | |
40 | American Express Co | 3.400% | 2/22/24 | A- | 43,358 | |
52 | Ameriprise Financial Inc | 4.000% | 10/15/23 | A- | 56,912 | |
50 | Anthem Inc | 3.650% | 12/01/27 | BBB | 57,678 | |
100 | Anthem Inc | 2.250% | 5/15/30 | BBB | 103,080 | |
100 | Anthem Inc | 4.650% | 1/15/43 | BBB | 126,842 | |
90 | Australia & New Zealand Banking Group Ltd/New York NY | 3.700% | 11/16/25 | AA- | 102,945 | |
40 | Banco Bilbao Vizcaya Argentaria SA | 0.875% | 9/18/23 | A- | 40,276 | |
248 | Bank of Montreal | 3.803% | 12/15/32 | BBB+ | 283,712 | |
76 | Bank of New York Mellon Corp | 3.450% | 8/11/23 | A+ | 81,945 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 100 | Bank of New York Mellon Corp | 2.800% | 5/04/26 | A+ | $109,264 | |
185 | Bank of New York Mellon Corp | 3.300% | 8/23/29 | A | 207,085 | |
197 | Bank of Nova Scotia | 2.450% | 9/19/22 | AA | 204,372 | |
500 | Barclays plc | 4.836% | 5/09/28 | BBB- | 570,028 | |
80 | BB&T Corp | 3.800% | 10/30/26 | A- | 91,896 | |
42 | BlackRock Inc | 3.500% | 3/18/24 | AA- | 46,005 | |
40 | BlackRock Inc | 3.250% | 4/30/29 | AA- | 45,490 | |
100 | Boston Properties LP | 2.900% | 3/15/30 | BBB+ | 105,848 | |
100 | BPCE SA | 4.000% | 4/15/24 | A+ | 110,678 | |
50 | Brixmor Operating Partnership LP | 4.125% | 6/15/26 | BBB- | 56,648 | |
48 | Brookfield Finance Inc | 4.000% | 4/01/24 | A- | 52,678 | |
40 | Brookfield Finance Inc | 4.350% | 4/15/30 | A- | 47,393 | |
40 | Camden Property Trust | 2.800% | 5/15/30 | A- | 43,425 | |
103 | Canadian Imperial Bank of Commerce | 3.500% | 9/13/23 | AA | 111,525 | |
100 | Charles Schwab Corp | 3.200% | 3/02/27 | A | 112,358 | |
99 | Chubb Corp | 6.000% | 5/11/37 | A | 146,779 | |
500 | Citigroup Inc | 3.980% | 3/20/30 | A- | 577,258 | |
100 | Citizens Financial Group Inc, 144A | 2.638% | 9/30/32 | BBB | 102,594 | |
60 | CME Group Inc | 5.300% | 9/15/43 | AA- | 87,825 | |
330 | Cooperatieve Rabobank UA | 3.875% | 2/08/22 | AA- | 342,168 | |
50 | Duke Realty LP | 2.875% | 11/15/29 | BBB+ | 54,534 | |
50 | Equitable Holdings Inc | 4.350% | 4/20/28 | BBB+ | 58,408 | |
30 | Equitable Holdings Inc | 5.000% | 4/20/48 | BBB+ | 38,501 | |
86 | ERP Operating LP | 2.500% | 2/15/30 | A- | 91,357 | |
50 | Federal Realty Investment Trust | 3.500% | 6/01/30 | A- | 55,276 | |
42 | Franklin Resources Inc | 2.800% | 9/15/22 | A | 43,646 | |
50 | GATX Corp | 4.700% | 4/01/29 | BBB | 60,394 | |
100 | Healthpeak Properties Inc | 3.500% | 7/15/29 | BBB+ | 112,595 | |
50 | Host Hotels & Resorts LP | 4.500% | 2/01/26 | BBB- | 54,990 | |
60 | Humana Inc | 2.900% | 12/15/22 | BBB | 62,633 | |
50 | Humana Inc | 4.875% | 4/01/30 | BBB | 62,033 | |
100 | Huntington Bancshares Inc/OH | 2.625% | 8/06/24 | BBB+ | 106,598 | |
100 | ING Groep NV | 3.950% | 3/29/27 | A- | 114,642 | |
50 | ING Groep NV | 4.050% | 4/09/29 | A- | 58,671 | |
114 | Intercontinental Exchange Inc | 3.750% | 9/21/28 | A- | 131,641 | |
100 | Intercontinental Exchange Inc | 4.250% | 9/21/48 | A- | 123,202 | |
100 | Invesco Finance PLC | 3.750% | 1/15/26 | A- | 112,560 | |
200 | JPMorgan Chase & Co | 2.739% | 10/15/30 | A | 213,863 | |
700 | JPMorgan Chase & Co | 4.493% | 3/24/31 | A | 840,644 | |
20 | KeyBank NA/Cleveland OH | 6.950% | 2/01/28 | BBB+ | 26,083 | |
152 | KeyCorp | 5.100% | 3/24/21 | BBB+ | 153,069 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 50 | Kilroy Realty LP | 4.750% | 12/15/28 | BBB | $58,535 | |
100 | Kimco Realty Corp | 2.700% | 10/01/30 | BBB+ | 105,244 | |
20 | Legg Mason Inc | 4.750% | 3/15/26 | A | 23,606 | |
80 | Life Storage LP | 4.000% | 6/15/29 | BBB | 91,978 | |
100 | Lincoln National Corp | 3.050% | 1/15/30 | BBB+ | 109,386 | |
500 | Lloyds Banking Group PLC | 2.438% | 2/05/26 | A- | 525,881 | |
20 | Lloyds Banking Group PLC | 4.550% | 8/16/28 | A- | 23,782 | |
90 | Manufacturers & Traders Trust Co | 2.900% | 2/06/25 | A | 97,538 | |
80 | Manulife Financial Corp | 5.375% | 3/04/46 | A | 115,345 | |
166 | Marsh & McLennan Cos Inc | 4.800% | 7/15/21 | A- | 167,562 | |
200 | Mitsubishi UFJ Financial Group Inc | 3.850% | 3/01/26 | A- | 228,008 | |
200 | Mitsubishi UFJ Financial Group Inc | 2.757% | 9/13/26 | A- | 218,091 | |
210 | Mitsubishi UFJ Financial Group Inc | 3.677% | 2/22/27 | A- | 240,462 | |
64 | Mitsubishi UFJ Financial Group Inc | 3.961% | 3/02/28 | A- | 74,461 | |
200 | Mizuho Financial Group Inc | 2.226% | 5/25/26 | A+ | 209,245 | |
100 | Mizuho Financial Group Inc | 2.869% | 9/13/30 | A+ | 107,541 | |
100 | Morgan Stanley | 2.188% | 4/28/26 | A | 104,909 | |
30 | Morgan Stanley | 3.591% | 7/22/28 | A | 33,909 | |
997 | Morgan Stanley | 3.772% | 1/24/29 | A | 1,134,365 | |
200 | Morgan Stanley | 4.431% | 1/23/30 | A | 238,914 | |
110 | Morgan Stanley | 3.622% | 4/01/31 | A | 125,096 | |
100 | National Australia Bank Ltd/New York | 3.625% | 6/20/23 | AA- | 107,664 | |
50 | National Australia Bank Ltd/New York | 3.375% | 1/14/26 | AA- | 56,005 | |
300 | Natwest Group PLC | 4.269% | 3/22/25 | BBB | 330,498 | |
100 | Natwest Group PLC | 5.076% | 1/27/30 | BBB | 120,340 | |
42 | Northern Trust Corp | 3.950% | 10/30/25 | A | 48,279 | |
20 | Northern Trust Corp | 3.150% | 5/03/29 | A+ | 22,532 | |
44 | ORIX Corp | 2.900% | 7/18/22 | A- | 45,516 | |
20 | People's United Financial Inc | 3.650% | 12/06/22 | BBB+ | 20,922 | |
90 | PNC Bank NA | 4.050% | 7/26/28 | A- | 105,806 | |
10 | PNC Bank NA | 2.700% | 10/22/29 | A- | 10,726 | |
332 | PNC Financial Services Group Inc | 3.900% | 4/29/24 | A- | 366,112 | |
54 | Principal Financial Group Inc | 3.700% | 5/15/29 | A- | 62,445 | |
54 | Progressive Corp | 3.200% | 3/26/30 | A | 61,279 | |
82 | Prologis LP | 3.875% | 9/15/28 | A- | 96,024 | |
10 | Prologis LP | 4.375% | 9/15/48 | A- | 13,117 | |
100 | Prudential Financial Inc | 1.500% | 3/10/26 | A- | 103,180 | |
113 | Prudential Financial Inc | 3.905% | 12/07/47 | A- | 131,068 | |
93 | Regions Financial Corp | 3.800% | 8/14/23 | BBB+ | 100,450 | |
20 | Regions Financial Corp | 7.375% | 12/10/37 | BBB | 30,308 | |
110 | Royal Bank of Canada | 2.800% | 4/29/22 | A | 113,499 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Financials (continued) | ||||||
$ 100 | Royal Bank of Canada | 2.250% | 11/01/24 | A | $106,263 | |
42 | Sompo International Holdings Ltd | 4.700% | 10/15/22 | A- | 44,797 | |
149 | State Street Corp | 3.100% | 5/15/23 | A | 158,118 | |
90 | State Street Corp | 2.400% | 1/24/30 | A+ | 96,599 | |
158 | Sumitomo Mitsui Financial Group Inc | 3.936% | 10/16/23 | A+ | 172,462 | |
50 | Sumitomo Mitsui Financial Group Inc | 2.632% | 7/14/26 | A+ | 54,032 | |
330 | Sumitomo Mitsui Financial Group Inc | 3.364% | 7/12/27 | A+ | 371,257 | |
90 | Sumitomo Mitsui Financial Group Inc | 4.306% | 10/16/28 | A+ | 107,106 | |
20 | SVB Financial Group | 3.125% | 6/05/30 | A- | 22,175 | |
173 | Toronto-Dominion Bank | 2.125% | 4/07/21 | AA- | 173,616 | |
30 | Toronto-Dominion Bank | 3.625% | 9/15/31 | A | 33,891 | |
100 | Travelers Cos Inc | 4.600% | 8/01/43 | A | 134,498 | |
216 | Truist Financial Corp | 3.750% | 12/06/23 | A- | 236,064 | |
200 | Truist Financial Corp | 3.700% | 6/05/25 | A- | 224,834 | |
54 | UDR Inc | 3.000% | 8/15/31 | BBB+ | 58,479 | |
84 | Ventas Realty LP | 4.750% | 11/15/30 | BBB+ | 100,685 | |
60 | Voya Financial Inc | 4.700% | 1/23/48 | BBB- | 61,622 | |
68 | Welltower Inc | 4.125% | 3/15/29 | BBB+ | 78,306 | |
80 | Westpac Banking Corp | 2.800% | 1/11/22 | AA- | 81,948 | |
30 | Westpac Banking Corp | 2.750% | 1/11/23 | AA- | 31,446 | |
104 | Westpac Banking Corp | 2.000% | 1/13/23 | AA- | 107,469 | |
166 | Westpac Banking Corp | 4.322% | 11/23/31 | BBB+ | 189,118 | |
100 | Willis North America Inc | 2.950% | 9/15/29 | BBB | 107,777 | |
14,701 | Total Financials | 16,493,660 | ||||
Industrial – 16.5% | ||||||
20 | 3M Co | 3.375% | 3/01/29 | A+ | 22,768 | |
198 | 3M Co | 2.375% | 8/26/29 | A+ | 211,337 | |
20 | 3M Co | 3.050% | 4/15/30 | A+ | 22,389 | |
472 | AbbVie Inc | 3.750% | 11/14/23 | BBB+ | 513,088 | |
40 | AbbVie Inc | 3.800% | 3/15/25 | BBB+ | 44,485 | |
70 | AbbVie Inc | 3.600% | 5/14/25 | BBB+ | 77,586 | |
353 | AbbVie Inc | 4.500% | 5/14/35 | BBB+ | 434,372 | |
90 | AbbVie Inc | 4.400% | 11/06/42 | BBB+ | 110,242 | |
104 | Adobe Inc | 1.900% | 2/01/25 | A | 109,340 | |
40 | Alphabet Inc | 3.375% | 2/25/24 | AA+ | 43,716 | |
170 | Alphabet Inc | 1.900% | 8/15/40 | AA+ | 160,123 | |
180 | American Tower Corp | 5.000% | 2/15/24 | BBB- | 202,766 | |
70 | American Tower Corp | 2.900% | 1/15/30 | BBB- | 74,303 | |
90 | Amgen Inc | 2.300% | 2/25/31 | A- | 93,574 | |
355 | Amgen Inc | 4.400% | 5/01/45 | BBB+ | 444,610 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 50 | Amphenol Corp | 4.350% | 6/01/29 | BBB+ | $59,871 | |
86 | Analog Devices Inc | 2.500% | 12/05/21 | BBB+ | 87,547 | |
42 | Applied Materials Inc | 5.100% | 10/01/35 | A- | 56,757 | |
50 | Applied Materials Inc | 4.350% | 4/01/47 | A- | 66,058 | |
90 | Archer-Daniels-Midland Co | 3.250% | 3/27/30 | A | 101,469 | |
165 | AstraZeneca PLC | 6.450% | 9/15/37 | A- | 246,739 | |
114 | Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor Inc | 3.138% | 11/07/29 | A- | 124,364 | |
180 | Baxalta Inc | 4.000% | 6/23/25 | BBB+ | 202,189 | |
150 | Becton Dickinson and Co | 2.823% | 5/20/30 | BBB- | 161,910 | |
111 | Biogen Inc | 3.625% | 9/15/22 | A- | 116,787 | |
50 | Boardwalk Pipelines LP | 5.950% | 6/01/26 | BBB- | 59,731 | |
70 | Booking Holdings Inc | 2.750% | 3/15/23 | A- | 73,241 | |
38 | Bristol-Myers Squibb Co | 2.000% | 8/01/22 | A | 38,940 | |
170 | Bristol-Myers Squibb Co | 4.125% | 6/15/39 | A+ | 210,164 | |
359 | Bristol-Myers Squibb Co | 5.000% | 8/15/45 | A+ | 494,833 | |
100 | British Telecommunications PLC | 9.625% | 12/15/30 | BBB | 162,147 | |
28 | Bunge Ltd Finance Corp | 3.000% | 9/25/22 | BBB- | 29,045 | |
110 | Campbell Soup Co | 2.375% | 4/24/30 | BBB | 114,076 | |
100 | Canadian National Railway Co | 6.375% | 11/15/37 | A | 153,784 | |
100 | Canadian Pacific Railway Co | 4.800% | 8/01/45 | BBB+ | 135,993 | |
141 | Cardinal Health Inc | 2.616% | 6/15/22 | BBB | 144,865 | |
38 | Cardinal Health Inc | 3.200% | 3/15/23 | BBB | 40,059 | |
40 | Carlisle Cos Inc | 3.500% | 12/01/24 | BBB | 43,735 | |
160 | Carrier Global Corp | 3.377% | 4/05/40 | BBB- | 169,547 | |
80 | Caterpillar Financial Services Corp | 2.550% | 11/29/22 | A | 83,206 | |
50 | Caterpillar Financial Services Corp | 3.250% | 12/01/24 | A | 55,243 | |
60 | Caterpillar Inc | 2.600% | 9/19/29 | A | 65,055 | |
186 | Caterpillar Inc | 3.803% | 8/15/42 | A | 225,014 | |
50 | Cheniere Corpus Christi Holdings LLC | 5.875% | 3/31/25 | BBB- | 57,897 | |
50 | Cheniere Corpus Christi Holdings LLC | 5.125% | 6/30/27 | BBB- | 59,250 | |
432 | Cigna Corp | 3.050% | 10/15/27 | BBB | 480,109 | |
100 | Cintas Corp No 2 | 3.700% | 4/01/27 | A- | 114,768 | |
188 | Cisco Systems Inc/Delaware | 2.500% | 9/20/26 | AA- | 203,980 | |
30 | Citrix Systems Inc | 3.300% | 3/01/30 | BBB | 32,265 | |
28 | Clorox Co | 3.050% | 9/15/22 | A- | 29,020 | |
120 | CNH Industrial NV | 3.850% | 11/15/27 | BBB- | 137,452 | |
148 | Coca-Cola Co | 2.500% | 4/01/23 | A+ | 155,557 | |
175 | Coca-Cola Co | 1.450% | 6/01/27 | A+ | 179,037 | |
50 | Coca-Cola Co | 1.000% | 3/15/28 | A+ | 49,224 | |
10 | Coca-Cola Co | 1.650% | 6/01/30 | A+ | 9,996 | |
60 | Colgate-Palmolive Co | 1.950% | 2/01/23 | AA- | 61,993 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 120 | Conagra Brands Inc | 8.250% | 9/15/30 | BBB- | $179,568 | |
100 | Corning Inc | 5.350% | 11/15/48 | BBB+ | 136,887 | |
30 | Crown Castle International Corp | 4.300% | 2/15/29 | BBB- | 34,991 | |
204 | Crown Castle International Corp | 3.300% | 7/01/30 | BBB- | 223,477 | |
155 | CSX Corp | 4.250% | 3/15/29 | BBB+ | 184,321 | |
100 | CSX Corp | 4.100% | 3/15/44 | BBB+ | 119,714 | |
42 | CSX Corp | 4.250% | 11/01/66 | BBB+ | 52,955 | |
120 | Cummins Inc | 2.600% | 9/01/50 | A+ | 117,582 | |
50 | Darden Restaurants Inc | 4.550% | 2/15/48 | BBB- | 54,374 | |
274 | Deere & Co | 3.900% | 6/09/42 | A | 335,792 | |
140 | Dell International LLC / EMC Corp, 144A | 5.450% | 6/15/23 | BBB- | 153,772 | |
151 | Dell International LLC / EMC Corp, 144A | 8.100% | 7/15/36 | BBB- | 220,460 | |
100 | Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | BBB+ | 155,476 | |
150 | Discovery Communications LLC | 3.625% | 5/15/30 | BBB- | 168,835 | |
46 | Discovery Communications LLC, 144A | 4.000% | 9/15/55 | BBB- | 49,397 | |
126 | DuPont de Nemours Inc | 4.725% | 11/15/28 | BBB+ | 152,986 | |
120 | Eastern Energy Gas Holdings LLC | 4.800% | 11/01/43 | A | 149,168 | |
42 | Eaton Corp | 4.000% | 11/02/32 | BBB+ | 50,305 | |
124 | eBay Inc | 2.700% | 3/11/30 | BBB+ | 131,523 | |
116 | Ecolab Inc | 3.250% | 12/01/27 | A- | 131,137 | |
60 | Eli Lilly and Co | 3.375% | 3/15/29 | A+ | 68,836 | |
100 | Eli Lilly and Co | 3.700% | 3/01/45 | A+ | 117,644 | |
50 | Emerson Electric Co | 1.950% | 10/15/30 | A | 51,649 | |
160 | Enbridge Inc | 3.125% | 11/15/29 | BBB+ | 172,783 | |
140 | Equinix Inc | 2.625% | 11/18/24 | BBB- | 149,041 | |
100 | Estee Lauder Cos Inc | 2.600% | 4/15/30 | A+ | 108,110 | |
100 | FedEx Corp | 5.100% | 1/15/44 | BBB | 129,232 | |
150 | FedEx Corp | 5.250% | 5/15/50 | BBB | 201,475 | |
100 | Fidelity National Information Services Inc | 4.250% | 5/15/28 | BBB | 116,860 | |
254 | Fiserv Inc | 3.500% | 7/01/29 | BBB | 285,956 | |
50 | Flex Ltd | 4.875% | 6/15/29 | BBB- | 58,663 | |
70 | Fomento Economico Mexicano SAB de CV | 3.500% | 1/16/50 | A | 75,412 | |
164 | General Mills Inc | 2.875% | 4/15/30 | BBB | 178,057 | |
70 | Gilead Sciences Inc | 4.600% | 9/01/35 | A- | 88,721 | |
296 | Gilead Sciences Inc | 4.000% | 9/01/36 | A- | 352,007 | |
40 | GlaxoSmithKline Capital PLC | 2.875% | 6/01/22 | A | 41,275 | |
230 | GlaxoSmithKline Capital PLC | 3.375% | 6/01/29 | A | 264,220 | |
20 | Harley-Davidson Inc | 4.625% | 7/28/45 | BBB | 22,534 | |
100 | Hasbro Inc | 3.900% | 11/19/29 | BBB- | 111,667 | |
206 | HCA Inc | 4.125% | 6/15/29 | BBB- | 237,216 | |
116 | Hewlett Packard Enterprise Co | 3.500% | 10/05/21 | BBB | 118,192 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 50 | Hewlett Packard Enterprise Co | 6.200% | 10/15/35 | BBB | $64,771 | |
10 | Home Depot Inc | 2.950% | 6/15/29 | A | 11,125 | |
299 | Home Depot Inc | 5.400% | 9/15/40 | A | 420,842 | |
100 | Home Depot Inc | 5.950% | 4/01/41 | A | 150,817 | |
90 | Home Depot Inc | 3.125% | 12/15/49 | A | 97,082 | |
80 | HP Inc | 3.400% | 6/17/30 | BBB | 86,992 | |
60 | Illinois Tool Works Inc | 4.875% | 9/15/41 | A+ | 82,001 | |
392 | Intel Corp | 2.450% | 11/15/29 | A+ | 419,115 | |
10 | Intel Corp | 4.000% | 12/15/32 | A+ | 12,068 | |
100 | Intel Corp | 4.600% | 3/25/40 | A+ | 128,290 | |
10 | Intel Corp | 4.250% | 12/15/42 | A+ | 12,424 | |
350 | International Business Machines Corp | 3.300% | 5/15/26 | A | 391,190 | |
60 | International Business Machines Corp | 1.950% | 5/15/30 | A | 60,922 | |
72 | International Business Machines Corp | 5.600% | 11/30/39 | A | 102,322 | |
90 | International Business Machines Corp | 4.700% | 2/19/46 | A | 116,798 | |
58 | International Flavors & Fragrances Inc | 3.200% | 5/01/23 | BBB | 60,917 | |
100 | International Paper Co | 4.800% | 6/15/44 | BBB | 129,236 | |
100 | J M Smucker Co | 2.375% | 3/15/30 | BBB | 104,348 | |
50 | John Deere Capital Corp | 3.650% | 10/12/23 | A | 54,444 | |
10 | John Deere Capital Corp | 2.450% | 1/09/30 | A | 10,807 | |
50 | Johnson Controls International plc | 5.125% | 9/14/45 | BBB | 68,172 | |
115 | Kellogg Co | 2.650% | 12/01/23 | BBB | 122,023 | |
179 | Keurig Dr Pepper Inc | 3.130% | 12/15/23 | BBB | 191,743 | |
48 | Kimberly-Clark Corp | 6.625% | 8/01/37 | A | 76,345 | |
104 | Kimberly-Clark Corp | 2.875% | 2/07/50 | A | 111,697 | |
450 | Kinder Morgan Inc | 5.300% | 12/01/34 | BBB | 546,254 | |
160 | Kroger Co | 6.900% | 4/15/38 | BBB+ | 239,481 | |
113 | Laboratory Corp of America Holdings | 3.200% | 2/01/22 | BBB | 116,162 | |
58 | Lam Research Corp | 2.800% | 6/15/21 | A- | 58,426 | |
90 | Lam Research Corp | 3.125% | 6/15/60 | A- | 96,197 | |
119 | Linde Inc/CT | 2.700% | 2/21/23 | A | 123,976 | |
300 | Lowe's Cos Inc | 5.000% | 4/15/40 | BBB+ | 395,467 | |
150 | LYB International Finance III LLC | 3.375% | 5/01/30 | BBB | 165,919 | |
250 | Marathon Petroleum Corp | 4.750% | 9/15/44 | BBB | 287,130 | |
40 | Martin Marietta Materials Inc | 2.500% | 3/15/30 | BBB | 42,387 | |
50 | Masco Corp | 4.450% | 4/01/25 | BBB | 57,096 | |
28 | Mastercard Inc | 2.000% | 11/21/21 | A+ | 28,367 | |
20 | Mastercard Inc | 2.950% | 6/01/29 | A+ | 22,178 | |
144 | Mastercard Inc | 3.350% | 3/26/30 | A+ | 165,068 | |
139 | McCormick & Co Inc/MD | 2.700% | 8/15/22 | BBB | 143,587 | |
235 | Merck & Co Inc | 3.400% | 3/07/29 | AA- | 268,781 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 100 | Merck & Co Inc | 3.900% | 3/07/39 | AA- | $122,095 | |
80 | Micron Technology Inc | 4.185% | 2/15/27 | BBB- | 92,895 | |
442 | Microsoft Corp | 3.450% | 8/08/36 | AAA | 528,095 | |
100 | Microsoft Corp | 4.100% | 2/06/37 | AAA | 126,032 | |
10 | Microsoft Corp | 3.750% | 2/12/45 | AAA | 12,251 | |
295 | Microsoft Corp | 3.700% | 8/08/46 | AAA | 361,734 | |
84 | Moody's Corp | 4.500% | 9/01/22 | BBB+ | 88,517 | |
38 | Moody's Corp | 2.625% | 1/15/23 | BBB+ | 39,551 | |
150 | Mosaic Co | 4.875% | 11/15/41 | BBB- | 175,700 | |
100 | Motorola Solutions Inc | 4.600% | 2/23/28 | BBB- | 119,111 | |
164 | NIKE Inc | 2.850% | 3/27/30 | AA- | 181,979 | |
142 | Norfolk Southern Corp | 4.837% | 10/01/41 | BBB+ | 187,368 | |
150 | Novartis Capital Corp | 2.200% | 8/14/30 | AA- | 159,029 | |
100 | Novartis Capital Corp | 4.400% | 5/06/44 | AA- | 132,335 | |
210 | Nutrien Ltd | 4.200% | 4/01/29 | BBB | 248,268 | |
54 | NVIDIA Corp | 2.200% | 9/16/21 | A | 54,565 | |
50 | NVIDIA Corp | 3.500% | 4/01/40 | A | 57,335 | |
30 | NVR Inc | 3.000% | 5/15/30 | BBB+ | 32,381 | |
104 | Omnicom Group Inc | 4.200% | 6/01/30 | BBB+ | 122,862 | |
273 | ONEOK Inc | 4.550% | 7/15/28 | BBB | 310,919 | |
109 | Orange SA | 4.125% | 9/14/21 | BBB+ | 111,567 | |
60 | Otis Worldwide Corp | 3.112% | 2/15/40 | BBB | 63,005 | |
50 | Owens Corning | 3.875% | 6/01/30 | BBB- | 56,662 | |
96 | PACCAR Financial Corp | 2.300% | 8/10/22 | A+ | 98,957 | |
104 | Parker-Hannifin Corp | 4.200% | 11/21/34 | BBB+ | 126,762 | |
10 | Parker-Hannifin Corp | 4.450% | 11/21/44 | BBB+ | 12,820 | |
150 | PayPal Holdings Inc | 2.850% | 10/01/29 | BBB+ | 163,317 | |
60 | PepsiCo Inc | 3.500% | 7/17/25 | A+ | 67,172 | |
20 | PepsiCo Inc | 2.375% | 10/06/26 | A+ | 21,677 | |
60 | PepsiCo Inc | 4.250% | 10/22/44 | A+ | 76,490 | |
364 | PepsiCo Inc | 2.875% | 10/15/49 | A+ | 384,138 | |
100 | PPG Industries Inc | 3.750% | 3/15/28 | A- | 118,374 | |
200 | Procter & Gamble Co | 3.000% | 3/25/30 | AA- | 226,185 | |
28 | Quest Diagnostics Inc | 4.250% | 4/01/24 | BBB | 30,920 | |
50 | Quest Diagnostics Inc | 3.450% | 6/01/26 | BBB | 56,009 | |
54 | Raytheon Technologies Corp | 3.700% | 12/15/23 | A- | 58,605 | |
100 | Republic Services Inc | 3.950% | 5/15/28 | BBB | 116,063 | |
30 | Rockwell Automation Inc | 4.200% | 3/01/49 | A | 39,503 | |
150 | Rogers Communications Inc | 5.450% | 10/01/43 | BBB+ | 205,870 | |
36 | Roper Technologies Inc | 3.125% | 11/15/22 | BBB+ | 37,541 | |
100 | Roper Technologies Inc | 3.800% | 12/15/26 | BBB+ | 114,604 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 114 | Ryder System Inc | 2.500% | 9/01/24 | BBB | $120,861 | |
60 | salesforce.com Inc | 3.700% | 4/11/28 | A | 69,899 | |
131 | Sherwin-Williams Co | 2.950% | 8/15/29 | BBB | 142,832 | |
100 | Shire Acquisitions Investments Ireland DAC | 2.875% | 9/23/23 | BBB+ | 105,711 | |
100 | Stanley Black & Decker Inc | 4.250% | 11/15/28 | A- | 119,584 | |
201 | Starbucks Corp | 3.550% | 8/15/29 | BBB+ | 229,859 | |
50 | Starbucks Corp | 3.750% | 12/01/47 | BBB+ | 56,373 | |
190 | Target Corp | 2.350% | 2/15/30 | A | 203,219 | |
43 | Telefonica Emisiones SA | 5.462% | 2/16/21 | BBB- | 43,085 | |
150 | Telefonica Emisiones SA | 5.520% | 3/01/49 | BBB- | 198,239 | |
120 | Texas Instruments Inc | 1.750% | 5/04/30 | A+ | 121,078 | |
150 | Thermo Fisher Scientific Inc | 4.133% | 3/25/25 | BBB+ | 169,621 | |
40 | Thomson Reuters Corp | 3.350% | 5/15/26 | BBB | 44,516 | |
100 | TJX Cos Inc | 3.750% | 4/15/27 | A | 115,237 | |
282 | Toyota Motor Corp | 2.760% | 7/02/29 | A+ | 311,591 | |
100 | Toyota Motor Credit Corp | 0.450% | 1/11/24 | A+ | 100,133 | |
60 | Toyota Motor Credit Corp | 2.000% | 10/07/24 | A+ | 63,363 | |
10 | Toyota Motor Credit Corp | 3.650% | 1/08/29 | A+ | 11,592 | |
78 | Trane Technologies Global Holding Co Ltd | 4.250% | 6/15/23 | BBB | 84,810 | |
90 | Trimble Inc | 4.150% | 6/15/23 | BBB- | 96,548 | |
351 | TWDC Enterprises 18 Corp | 2.350% | 12/01/22 | A- | 364,073 | |
38 | Tyco Electronics Group SA | 3.500% | 2/03/22 | A- | 38,899 | |
200 | Tyson Foods Inc | 4.875% | 8/15/34 | BBB | 259,838 | |
80 | Unilever Capital Corp | 3.125% | 3/22/23 | A+ | 84,879 | |
100 | Unilever Capital Corp | 2.600% | 5/05/24 | A+ | 106,693 | |
350 | Union Pacific Corp | 2.400% | 2/05/30 | A- | 370,045 | |
90 | Union Pacific Corp | 3.550% | 8/15/39 | A- | 101,336 | |
80 | United Parcel Service Inc | 4.450% | 4/01/30 | A | 98,216 | |
28 | United Parcel Service Inc | 6.200% | 1/15/38 | A | 42,411 | |
154 | United Parcel Service Inc | 3.750% | 11/15/47 | A | 184,181 | |
160 | Valero Energy Corp | 4.000% | 4/01/29 | BBB | 176,820 | |
120 | Valmont Industries Inc | 5.250% | 10/01/54 | BBB- | 140,512 | |
100 | Verisk Analytics Inc | 4.125% | 3/15/29 | BBB | 117,840 | |
100 | Verizon Communications Inc | 1.500% | 9/18/30 | BBB+ | 96,822 | |
190 | Verizon Communications Inc | 5.250% | 3/16/37 | BBB+ | 251,374 | |
200 | Verizon Communications Inc | 4.812% | 3/15/39 | BBB+ | 253,272 | |
670 | Verizon Communications Inc | 4.672% | 3/15/55 | BBB+ | 855,657 | |
50 | VF Corp | 2.800% | 4/23/27 | A- | 54,722 | |
140 | Visa Inc | 2.050% | 4/15/30 | AA- | 146,166 | |
189 | Visa Inc | 4.150% | 12/14/35 | AA- | 240,088 | |
135 | VMware Inc | 2.950% | 8/21/22 | BBB- | 139,848 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Industrial (continued) | ||||||
$ 233 | Vodafone Group PLC | 6.150% | 2/27/37 | BBB | $327,153 | |
80 | Vodafone Group PLC | 5.250% | 5/30/48 | BBB | 107,027 | |
200 | Walgreens Boots Alliance Inc, (3) | 3.200% | 4/15/30 | BBB | 217,553 | |
100 | Walt Disney Co | 6.400% | 12/15/35 | A- | 151,115 | |
10 | Walt Disney Co | 4.950% | 10/15/45 | A- | 13,465 | |
270 | Walt Disney Co | 2.750% | 9/01/49 | A- | 265,178 | |
100 | Waste Management Inc | 3.150% | 11/15/27 | BBB+ | 112,359 | |
30 | Waste Management Inc | 1.150% | 3/15/28 | BBB+ | 29,686 | |
40 | Western Union Co | 2.850% | 1/10/25 | BBB | 42,841 | |
10 | Western Union Co | 6.200% | 11/17/36 | BBB | 12,450 | |
122 | WPP Finance 2010 | 3.625% | 9/07/22 | BBB | 127,903 | |
50 | WW Grainger Inc | 1.850% | 2/15/25 | A+ | 52,259 | |
72 | Xylem Inc/NY | 4.875% | 10/01/21 | BBB | 74,117 | |
10 | Xylem Inc/NY | 2.250% | 1/30/31 | BBB | 10,343 | |
126 | Zoetis Inc | 3.900% | 8/20/28 | BBB+ | 146,088 | |
28,204 | Total Industrial | 32,813,496 | ||||
Utility – 2.1% | ||||||
161 | Alabama Power Co | 6.000% | 3/01/39 | A+ | 233,829 | |
100 | American Water Capital Corp | 2.800% | 5/01/30 | A | 109,011 | |
200 | Appalachian Power Co | 4.400% | 5/15/44 | A- | 242,719 | |
100 | Arizona Public Service Co | 3.350% | 5/15/50 | A | 111,016 | |
300 | Berkshire Hathaway Energy Co | 5.150% | 11/15/43 | A- | 399,756 | |
100 | CenterPoint Energy Houston Electric LLC | 3.950% | 3/01/48 | A | 122,544 | |
90 | CenterPoint Energy Resources Corp | 4.100% | 9/01/47 | BBB+ | 106,416 | |
171 | Commonwealth Edison Co | 6.450% | 1/15/38 | A | 258,381 | |
124 | Consolidated Edison Co of New York Inc | 5.500% | 12/01/39 | A- | 166,429 | |
10 | Consolidated Edison Co of New York Inc | 4.300% | 12/01/56 | A- | 12,358 | |
90 | Consumers Energy Co | 3.500% | 8/01/51 | A+ | 105,556 | |
126 | DTE Energy Co | 2.950% | 3/01/30 | BBB | 135,622 | |
60 | Duke Energy Carolinas LLC | 4.250% | 12/15/41 | AA | 73,699 | |
100 | Duke Energy Corp | 4.800% | 12/15/45 | BBB+ | 125,243 | |
108 | Entergy Louisiana LLC | 4.000% | 3/15/33 | A | 131,600 | |
114 | Eversource Energy | 3.450% | 1/15/50 | BBB+ | 125,832 | |
10 | Exelon Corp | 4.950% | 6/15/35 | BBB | 12,507 | |
10 | Exelon Corp | 5.100% | 6/15/45 | BBB | 13,109 | |
191 | Florida Power & Light Co | 5.950% | 2/01/38 | AA- | 279,735 | |
100 | NiSource Inc | 3.600% | 5/01/30 | BBB | 113,312 | |
117 | Northern States Power Co/MN | 6.200% | 7/01/37 | A+ | 174,272 | |
36 | Potomac Electric Power Co | 6.500% | 11/15/37 | A | 53,942 | |
100 | Public Service Electric and Gas Co | 5.800% | 5/01/37 | AA- | 141,755 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Utility (continued) | ||||||
$ 90 | Puget Sound Energy Inc | 5.638% | 4/15/41 | A | $124,604 | |
143 | San Diego Gas & Electric Co | 4.150% | 5/15/48 | A | 176,706 | |
104 | Sempra Energy | 6.000% | 10/15/39 | BBB+ | 145,529 | |
10 | Southern California Edison Co | 5.625% | 2/01/36 | A- | 13,445 | |
178 | Southern California Edison Co | 4.500% | 9/01/40 | A- | 208,420 | |
222 | Virginia Electric and Power Co | 6.000% | 5/15/37 | A | 316,884 | |
3,265 | Total Utility | 4,234,231 | ||||
$ 46,170 | Total Corporate Debt (cost $51,559,391) | 53,541,387 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
GOVERNMENT RELATED – 6.2% | ||||||
Government Agency – 2.6% | ||||||
$ 10 | Equinor ASA | 3.250% | 11/10/24 | AA | $10,974 | |
10 | Equinor ASA | 3.000% | 4/06/27 | AA | 11,011 | |
10 | Equinor ASA | 3.625% | 9/10/28 | AA | 11,450 | |
214 | Equinor ASA | 3.125% | 4/06/30 | AA | 237,965 | |
10 | Equinor ASA | 3.700% | 4/06/50 | AA | 11,449 | |
120 | Export Development Canada | 2.500% | 1/24/23 | AAA | 125,429 | |
390 | Federal Home Loan Banks | 2.375% | 9/08/23 | AAA | 412,441 | |
100 | Federal Home Loan Banks | 2.500% | 2/13/24 | AAA | 107,075 | |
240 | Federal Home Loan Banks | 2.875% | 6/14/24 | AAA | 261,284 | |
100 | Federal National Mortgage Association | 0.300% | 8/03/23 | AAA | 100,125 | |
70 | Federal National Mortgage Association | 1.625% | 1/07/25 | AAA | 73,499 | |
200 | Federal National Mortgage Association | 0.625% | 4/22/25 | AAA | 201,947 | |
200 | Federal National Mortgage Association | 0.500% | 6/17/25 | AAA | 200,656 | |
529 | Federal National Mortgage Association | 5.625% | 7/15/37 | AAA | 824,554 | |
100 | Israel Government AID Bond | 5.500% | 12/04/23 | AAA | 114,732 | |
200 | Japan Bank for International Cooperation | 1.750% | 10/17/24 | A+ | 209,244 | |
200 | Japan Bank for International Cooperation | 0.625% | 7/15/25 | A+ | 199,677 | |
10 | Korea Development Bank | 2.750% | 3/19/23 | AA | 10,499 | |
100 | Korea Development Bank | 2.125% | 10/01/24 | AA | 106,006 | |
310 | Kreditanstalt fuer Wiederaufbau | 2.375% | 12/29/22 | AAA | 322,856 | |
764 | Kreditanstalt fuer Wiederaufbau | 2.500% | 11/20/24 | AAA | 825,863 | |
150 | Landwirtschaftliche Rentenbank | 0.500% | 5/27/25 | AAA | 150,420 | |
100 | Oesterreichische Kontrollbank AG | 3.125% | 11/07/23 | AA+ | 107,794 | |
200 | Svensk Exportkredit AB | 1.750% | 12/12/23 | AA+ | 208,174 | |
10 | Tennessee Valley Authority | 4.700% | 7/15/33 | AAA | 13,483 | |
170 | Tennessee Valley Authority | 5.500% | 6/15/38 | AAA | 255,721 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Government Agency (continued) | ||||||
$ 16 | Tennessee Valley Authority | 5.250% | 9/15/39 | AAA | $ 23,417 | |
4,533 | Total Government Agency | 5,137,745 | ||||
Municipal Bonds – 2.4% (4) | ||||||
150 | African Development Bank (No Optional Call) | 3.000% | 9/20/23 | AAA | 160,811 | |
120 | Asian Development Bank (No Optional Call) | 2.750% | 3/17/23 | AAA | 126,454 | |
400 | Asian Development Bank (No Optional Call) | 1.500% | 10/18/24 | AAA | 416,632 | |
20 | Council Of Europe Development Bank (No Optional Call) | 1.375% | 2/27/25 | AA+ | 20,753 | |
100 | European Bank for Reconstruction & Development (No Optional Call) | 2.750% | 3/07/23 | AAA | 105,275 | |
249 | European Investment Bank (No Optional Call) | 2.000% | 3/15/21 | Aaa | 249,559 | |
250 | European Investment Bank (No Optional Call) | 3.125% | 12/14/23 | Aaa | 270,468 | |
90 | European Investment Bank (No Optional Call) | 2.250% | 6/24/24 | AAA | 95,953 | |
100 | Inter-American Development Bank (No Optional Call) | 2.000% | 7/23/26 | AAA | 107,082 | |
340 | Inter-American Development Bank (No Optional Call) | 3.875% | 10/28/41 | Aaa | 451,404 | |
535 | International Bank for Reconstruction & Development (No Optional Call) | 1.500% | 8/28/24 | AAA | 556,874 | |
100 | International Bank for Reconstruction & Development (No Optional Call) | 2.125% | 3/03/25 | Aaa | 106,910 | |
60 | International Bank for Reconstruction & Development (No Optional Call) | 3.125% | 11/20/25 | AAA | 67,370 | |
100 | International Finance Corp (No Optional Call) | 0.375% | 7/16/25 | AAA | 99,519 | |
250 | Province of Alberta Canada (No Optional Call) | 1.000% | 5/20/25 | AA- | 254,123 | |
100 | Province of Alberta Canada (No Optional Call) | 3.300% | 3/15/28 | Aa3 | 114,440 | |
30 | Province of British Columbia Canada (No Optional Call) | 2.000% | 10/23/22 | AAA | 30,908 | |
100 | Province of British Columbia Canada (No Optional Call) | 1.750% | 9/27/24 | AAA | 105,056 | |
100 | Province of Manitoba Canada (No Optional Call) | 2.600% | 4/16/24 | AA | 107,064 | |
70 | Province of New Brunswick Canada (No Optional Call) | 3.625% | 2/24/28 | AA | 81,843 | |
30 | Province of Ontario Canada (No Optional Call) | 2.550% | 4/25/22 | AA- | 30,840 | |
50 | Province of Ontario Canada (No Optional Call), (3) | 2.250% | 5/18/22 | AA- | 51,276 | |
516 | Province of Ontario Canada (No Optional Call) | 1.750% | 1/24/23 | AA- | 531,207 | |
10 | Province of Ontario Canada (No Optional Call) | 3.400% | 10/17/23 | AA- | 10,826 | |
60 | Province of Ontario Canada (No Optional Call) | 3.200% | 5/16/24 | AA- | 65,503 | |
40 | Province of Ontario Canada (No Optional Call) | 2.500% | 4/27/26 | AA- | 43,728 | |
180 | Province of Quebec Canada (No Optional Call) | 1.500% | 2/11/25 | AA- | 187,046 | |
50 | Province of Quebec Canada (No Optional Call) | 0.600% | 7/23/25 | AA- | 50,082 | |
286 | Province of Quebec Canada (No Optional Call) | 2.500% | 4/20/26 | AA- | 312,349 | |
20 | Province of Quebec Canada (No Optional Call) | 0.028% | 4/12/27 | AA- | 22,295 | |
4,506 | Total Municipal Bonds | 4,833,650 | ||||
Sovereign Debt – 1.2% | ||||||
100 | Canada Government International Bond | 1.625% | 1/22/25 | AAA | 104,908 | |
200 | Chile Government International Bond | 2.550% | 1/27/32 | A+ | 211,206 | |
416 | Colombia Government International Bond | 2.625% | 3/15/23 | BBB- | 428,272 | |
130 | Hungary Government International Bond | 5.750% | 11/22/23 | BBB | 148,296 | |
14 | Hungary Government International Bond | 7.625% | 3/29/41 | BBB | 24,360 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
Sovereign Debt (continued) | ||||||
$ 210 | Israel Government International Bond | 2.750% | 7/03/30 | A+ | $230,041 | |
80 | Korea Government International Bond | 2.750% | 1/19/27 | AA | 86,953 | |
250 | Panama Government International Bond | 4.500% | 5/15/47 | BBB | 306,565 | |
120 | Peruvian Government International Bond | 2.844% | 6/20/30 | BBB+ | 130,500 | |
96 | Peruvian Government International Bond | 5.625% | 11/18/50 | BBB+ | 146,400 | |
150 | Republic of Italy Government International Bond | 2.875% | 10/17/29 | Baa3 | 156,443 | |
120 | Republic of Poland Government International Bond | 5.000% | 3/23/22 | A- | 126,492 | |
200 | Uruguay Government International Bond | 4.125% | 11/20/45 | BBB | 243,252 | |
2,086 | Total Sovereign Debt | 2,343,688 | ||||
$ 11,125 | Total Government Related (cost $11,988,981) | 12,315,083 | ||||
Total Long-Term Investments (cost $192,843,644) | 197,718,464 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.1% | ||||||
MONEY MARKET FUNDS – 0.1% | ||||||
206,961 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.060% (6) | $ 206,961 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $206,961) | 206,961 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (2) | Value | |
SHORT-TERM INVESTMENTS – 1.8% | ||||||
U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.8% | ||||||
$ 2,122 | Federal Agricultural Mortgage Corp Discount Notes | 0.000% | 2/01/21 | N/R | $2,122,000 | |
1,410 | Federal Agricultural Mortgage Corp Discount Notes | 0.000% | 2/12/21 | N/R | 1,409,974 | |
$ 3,532 | Total Short-Term Investments (cost $3,531,974) | 3,531,974 | ||||
Total Investments (cost $196,582,579) – 101.1% | 201,457,399 | |||||
Other Assets Less Liabilities – (1.1)% | (2,120,917) | |||||
Net Assets – 100% | $ 199,336,482 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | The Fund uses credit quality ratings for its portfolio securities provided by Moody's, S&P and Fitch. If all three of Moody's, S&P, and Fitch provide a rating for a security, the middle is used; if two of the three agencies rate a security, the lower rating is used; and if only one rating agency rates a security, that rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Credit ratings are subject to change. Holdings designated N/R are not rated by Moody's, S&P or Fitch. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $201,109. | |
(4) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
(5) | The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
DD1 | Portion of investment purchased on a delayed delivery basis. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
NUAG | NUSA | NUHY | NUBD | |
Assets | ||||
Long-term investments, at value (cost $299,719,085, $39,367,604, $71,211,711 and $192,843,644, respectively)(1) | $300,615,067 | $40,318,278 | $72,961,655 | $197,718,464 |
Investment purchased with collateral from securities lending (at cost, which approximates value) | — | — | 531,294 | 206,961 |
Short-term investments, at value (cost approximates value) | 16,259,902 | 456,000 | 1,170,000 | 3,531,974 |
Cash | — | 518 | 243 | 4,462 |
Receivable for: | ||||
Interest | 1,385,119 | 208,964 | 1,032,563 | 1,052,490 |
Investments sold | 4,498,307 | 40,459 | 2,885,307 | 199,303 |
Securities lending income | — | — | 433 | 90 |
Shares sold | 5,102,460 | — | — | — |
Total assets | 327,860,855 | 41,024,219 | 78,581,495 | 202,713,744 |
Liabilities | ||||
Cash overdraft | 89,520 | — | — | — |
Payable for: | ||||
Collateral from securities lending program | — | — | 531,294 | 206,961 |
Investments purchased - regular settlement | 6,955,501 | 199,457 | 3,550,866 | 392,088 |
Investments purchased - when-issued/delayed-delivery settlement | 1,877,097 | — | — | 2,745,546 |
Accrued expenses: | ||||
Management fees | 35,575 | 6,370 | 19,618 | 29,743 |
Professional fees | 961 | 311 | 526 | 1,358 |
Trustees fees | 652 | 376 | 601 | 1,566 |
Total liabilities | 8,959,306 | 206,514 | 4,102,905 | 3,377,262 |
Net assets | $318,901,549 | $40,817,705 | $74,478,590 | $199,336,482 |
Shares outstanding | 12,500,000 | 1,600,000 | 3,000,000 | 7,500,000 |
Net asset value ("NAV") per share | $ 25.51 | $ 25.51 | $ 24.83 | $ 26.58 |
Net assets consist of: | ||||
Capital paid-in | $318,727,517 | $40,193,500 | $74,512,790 | $195,040,492 |
Total distributable earnings | 174,032 | 624,205 | (34,200) | 4,295,990 |
Net assets | $318,901,549 | $40,817,705 | $74,478,590 | $199,336,482 |
Authorized shares | Unlimited | Unlimited | Unlimited | Unlimited |
Par value per share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 |
(1) | Includes securities loaned of $515,888 and $201,109 for NUHY and NUBD, respectively. |
NUAG | NUSA | NUHY | NUBD | |
Investment Income | ||||
Interest | $ 1,065,197 | $319,815 | $1,519,643 | $ 1,356,895 |
Securities lending income | — | — | 433 | 90 |
Total investment income | 1,065,197 | 319,815 | 1,520,076 | 1,356,985 |
Expenses | ||||
Management fees | 135,638 | 39,851 | 113,834 | 171,544 |
Professional fees | 1,979 | 582 | 962 | 2,482 |
Trustees fees | 1,508 | 631 | 1,001 | 2,615 |
Total expenses | 139,125 | 41,064 | 115,797 | 176,641 |
Net investment income (loss) | 926,072 | 278,751 | 1,404,279 | 1,180,344 |
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) from: | ||||
Investments | (222,045) | 50,294 | 380,225 | 379,672 |
In-kind redemptions | 751,225 | 86,299 | — | — |
Change in net unrealized appreciation (depreciation) of investments | (1,794,475) | (69,897) | 1,010,091 | (4,148,034) |
Net realized and unrealized gain (loss) | (1,265,295) | 66,696 | 1,390,316 | (3,768,362) |
Net increase (decrease) in net assets from operations | $ (339,223) | $345,447 | $2,794,595 | $(2,588,018) |
NUAG | NUSA | NUHY | NUBD | ||||||||
Six Months Ended 1/31/21 | Year Ended 7/31/20 | Six Months Ended 1/31/21 | Year Ended 7/31/20 | Six Months Ended 1/31/21 | For the Period 9/25/19 (commencement of operations) through 7/31/20 | Six Months Ended 1/31/21 | Year Ended 7/31/20 | ||||
Operations | |||||||||||
Net investment income (loss) | $ 926,072 | $ 2,851,689 | $ 278,751 | $ 716,658 | $ 1,404,279 | $ 1,730,589 | $ 1,180,344 | $ 1,930,718 | |||
Net realized gain (loss) from: | |||||||||||
Investments | (222,045) | 1,175,963 | 50,294 | 217,770 | 380,225 | (1,796,697) | 379,672 | 92,664 | |||
In-kind redemptions | 751,225 | (940,002) | 86,299 | 261,126 | — | — | — | 171,532 | |||
Change in net unrealized appreciation (depreciation) of investments | (1,794,475) | 578,463 | (69,897) | 629,947 | 1,010,091 | 739,853 | (4,148,034) | 7,704,023 | |||
Net increase (decrease) in net assets from operations | (339,223) | 3,666,113 | 345,447 | 1,825,501 | 2,794,595 | 673,745 | (2,588,018) | 9,898,937 | |||
Distributions to Shareholders | |||||||||||
Dividends | (1,294,870) | (3,772,060) | (484,580) | (894,030) | (1,696,800) | (1,805,740) | (1,849,340) | (2,152,900) | |||
Decrease in net assets from distributions to shareholders | (1,294,870) | (3,772,060) | (484,580) | (894,030) | (1,696,800) | (1,805,740) | (1,849,340) | (2,152,900) | |||
Fund Share Transactions | |||||||||||
Proceeds from shares sold | 448,146,631 | 439,401,562 | 7,650,840 | 22,618,439 | 17,185,420 | 57,327,420 | 56,284,860 | 89,150,650 | |||
Cost of shares redeemed | (208,456,400) | (429,469,590) | (2,547,690) | (15,045,450) | — | (50) | — | (5,194,200) | |||
Net increase (decrease) in net assets from Fund share transactions | 239,690,231 | 9,931,972 | 5,103,150 | 7,572,989 | 17,185,420 | 57,327,370 | 56,284,860 | 83,956,450 | |||
Net increase (decrease) in net assets | 238,056,138 | 9,826,025 | 4,964,017 | 8,504,460 | 18,283,215 | 56,195,375 | 51,847,502 | 91,702,487 | |||
Net assets at the beginning of period | 80,845,411 | 71,019,386 | 35,853,688 | 27,349,228 | 56,195,375 | — | 147,488,980 | 55,786,493 | |||
Net assets at the end of period | $ 318,901,549 | $ 80,845,411 | $40,817,705 | $ 35,853,688 | $74,478,590 | $56,195,375 | $199,336,482 | $147,488,980 |
Investment Operations | Less Distributions | |||||||||
Year Ended July 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | Ending Market Price | |
NUAG | ||||||||||
2021(d) | $26.08 | $0.18 | $(0.38) | $(0.20) | $(0.37) | $ — | $(0.37) | $25.51 | $25.54 | |
2020 | 24.49 | 0.55 | 1.88 | 2.43 | (0.84) | — | (0.84) | 26.08 | 26.05 | |
2019 | 23.49 | 0.75 | 1.09 | 1.84 | (0.84) | — | (0.84) | 24.49 | 24.44 | |
2018 | 24.61 | 0.67 | (0.91) | (0.24) | (0.88) | — | (0.88) | 23.49 | 23.50 | |
2017(e) | 25.00 | 0.57 | (0.40) | 0.17 | (0.56) | —** | (0.56) | 24.61 | 24.67 | |
NUSA | ||||||||||
2021(d) | 25.61 | 0.18 | 0.03 | 0.21 | (0.31) | — | (0.31) | 25.51 | 25.54 | |
2020 | 24.86 | 0.55 | 0.90 | 1.45 | (0.70) | — | (0.70) | 25.61 | 25.69 | |
2019 | 24.30 | 0.62 | 0.65 | 1.27 | (0.71) | — | (0.71) | 24.86 | 24.89 | |
2018 | 25.11 | 0.55 | (0.64) | (0.09) | (0.72) | — | (0.72) | 24.30 | 24.33 | |
2017(f) | 25.00 | 0.23 | 0.04 | 0.27 | (0.16) | — | (0.16) | 25.11 | 25.15 | |
NUHY | ||||||||||
2021(d) | 24.43 | 0.53 | 0.52 | 1.05 | (0.65) | — | (0.65) | 24.83 | 24.95 | |
2020(g) | 25.00 | 0.93 | (0.53) | 0.40 | (0.97) | — | (0.97) | 24.43 | 24.74 | |
NUBD | ||||||||||
2021(d) | 27.31 | 0.18 | (0.61) | (0.43) | (0.30) | — | (0.30) | 26.58 | 26.67 | |
2020 | 25.36 | 0.55 | 2.04 | 2.59 | (0.64) | — | (0.64) | 27.31 | 27.37 | |
2019 | 24.17 | 0.63 | 1.24 | 1.87 | (0.68) | — | (0.68) | 25.36 | 25.38 | |
2018(h) | 25.00 | 0.48 | (0.82) | (0.34) | (0.49) | — | (0.49) | 24.17 | 24.20 |
Ratios/Supplemental Data | |||||
Total Return | Ratios to Average Net Assets | ||||
Based on NAV(b) | Based on Market Price(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(c) |
(0.78%) | (0.56%) | $318,902 | 0.20%* | 1.36%* | 85% |
10.11 | 10.19 | 80,845 | 0.20 | 2.21 | 208 |
8.03 | 7.77 | 71,019 | 0.20 | 3.17 | 167 |
(1.00) | (1.21) | 147,959 | 0.20 | 2.79 | 123 |
0.74 | 1.00 | 54,135 | 0.20* | 2.67* | 84 |
0.83 | 0.63 | 40,818 | 0.20* | 1.39* | 6 |
5.93 | 6.15 | 35,854 | 0.20 | 2.20 | 51 |
5.37 | 5.31 | 27,349 | 0.20 | 2.54 | 36 |
(0.37) | (0.39) | 26,727 | 0.20 | 2.22 | 37 |
1.10 | 1.26 | 30,132 | 0.20* | 2.74* | 4 |
4.33 | 3.56 | 74,479 | 0.35* | 4.28* | 32 |
1.79 | 3.02 | 56,195 | 0.35* | 4.55* | 47 |
(1.61) | (1.48) | 199,336 | 0.20* | 1.36* | 10 |
10.38 | 10.51 | 147,489 | 0.20 | 2.07 | 18 |
7.89 | 7.84 | 55,786 | 0.20 | 2.59 | 27 |
(1.37) | (1.25) | 41,088 | 0.20* | 2.31* | 17 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total Return Based on NAV reflects the change in NAV over the period, including the assumed reinvestment of distributions, if any, at NAV on each ex-dividend payment date during the period. Total Return Based on Market Price reflects the change in the market price per share over the period, including the assumed reinvestment of distributions, if any, at the ending market price per share on each ex-dividend payment date during the period. Total returns are not annualized. |
(c) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 - Investment Transactions) divided by the average long-term market value during the period. Portfolio Turnover Rate excludes securities received or delivered as a result of processing in-kind creations or redemptions of Fund shares (as disclosed in Note 5 - Fund Shares). |
(d) | For the six months ended January 31, 2021. |
(e) | For the period September 14, 2016 (commencement of operations) through July 31, 2017. |
(f) | For the period March 31, 2017 (commencement of operations) through July 31, 2017. |
(g) | For the period September 25, 2019 (commencement of operations) through July 31, 2020. |
(h) | For the period September 29, 2017 (commencement of operations) through July 31, 2018. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
NUAG | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments: | ||||
Securitized | $ — | $118,313,813 | $ — | $118,313,813 |
U.S. Treasury | — | 85,182,361 | — | 85,182,361 |
Corporate Debt | — | 77,080,803 | — | 77,080,803 |
Government Related | — | 20,038,090 | — | 20,038,090 |
Short-Term Investments: | ||||
U.S. Government and Agency Obligations | — | 16,259,902 | — | 16,259,902 |
Total | $ — | $316,874,969 | $ — | $316,874,969 |
NUSA | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments: | ||||
Corporate Debt | $ — | $17,066,040 | $ — | $17,066,040 |
Securitized | — | 12,592,639 | — | 12,592,639 |
U.S. Treasury | — | 10,659,599 | — | 10,659,599 |
Short-Term Investments: | ||||
U.S. Government and Agency Obligations | — | 456,000 | — | 456,000 |
Total | $ — | $40,774,278 | $ — | $40,774,278 |
NUHY | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments: | ||||
Corporate Debt | $ — | $72,961,655 | $ — | $72,961,655 |
Investments Purchased with Collateral from Securities Lending | 531,294 | — | — | 531,294 |
Short-Term Investments: | ||||
U.S. Government and Agency Obligations | — | 1,170,000 | — | 1,170,000 |
Total | $531,294 | $74,131,655 | $ — | $74,662,949 |
NUBD | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments: | ||||
U.S. Treasury | $ — | $ 73,143,615 | $ — | $ 73,143,615 |
Securitized | — | 58,718,379 | — | 58,718,379 |
Corporate Debt | — | 53,541,387 | — | 53,541,387 |
Government Related | — | 12,315,083 | — | 12,315,083 |
Investments Purchased with Collateral from Securities Lending | 206,961 | — | — | 206,961 |
Short-Term Investments: | ||||
U.S. Government and Agency Obligations | — | 3,531,974 | — | 3,531,974 |
Total | $206,961 | $201,250,438 | $ — | $201,457,399 |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
NUHY | Corporate Debt | $515,888 | $531,294 |
NUBD | Corporate Debt | $163,165 | $168,018 |
Municipal Bonds | 37,944 | 38,943 | |
Total | $201,109 | $206,961 |
NUAG | NUSA | NUHY | NUBD | |
Purchases: | ||||
Investment securities | $202,692,602 | $4,394,055 | $20,569,390 | $35,560,974 |
U.S. Government and agency obligations | 36,885,840 | 349,238 | — | 3,822,160 |
Sales and maturities: | ||||
Investment securities | 95,773,737 | 2,493,733 | 20,504,329 | 17,952,203 |
U.S. Government and agency obligations | 12,503,359 | — | — | 227,305 |
NUAG | NUSA | NUHY | NUBD | |
In-kind purchases | $214,221,328 | $5,328,583 | $16,756,948 | $35,010,930 |
In-kind sales | 123,302,993 | 2,645,939 | — | — |
NUAG | NUSA | ||||||||||
Six Months Ended 1/31/21 | Year Ended 7/31/20 | Six Months Ended 1/31/21 | Year Ended 7/31/20 | ||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||
Shares sold | 17,500,000 | $ 448,146,631 | 17,500,000 | $ 439,401,562 | 300,000 | $ 7,650,840 | 900,000 | $ 22,618,439 | |||
Shares redeemed | (8,100,000) | (208,456,400) | (17,300,000) | (429,469,590) | (100,000) | (2,547,690) | (600,000) | (15,045,450) | |||
Net increase (decrease) | 9,400,000 | $ 239,690,231 | 200,000 | $ 9,931,972 | 200,000 | $ 5,103,150 | 300,000 | $ 7,572,989 |
NUHY | NUBD | ||||||||||
Six Months Ended 1/31/21 | For the Period 9/25/19 (commencement of operations) through 7/31/20 | Six Months Ended 1/31/21 | Year Ended 7/31/20 | ||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||
Shares sold | 700,000 | $17,185,420 | 2,300,002 | $57,327,420 | 2,100,000 | $56,284,860 | 3,400,000 | $89,150,650 | |||
Shares redeemed | — | — | (2) | (50) | — | — | (200,000) | (5,194,200) | |||
Net increase (decrease) | 700,000 | $17,185,420 | 2,300,000 | $57,327,370 | 2,100,000 | $56,284,860 | 3,200,000 | $83,956,450 |
NUAG | NUSA | NUHY | NUBD | |
Tax cost of investments | $316,292,236 | $40,048,492 | $73,279,380 | $197,220,862 |
Gross unrealized: | ||||
Appreciation | $ 1,446,211 | $ 790,635 | $ 1,723,049 | $ 5,247,482 |
Depreciation | (863,478) | (64,849) | (339,480) | (1,010,945) |
Net unrealized appreciation (depreciation) of investments | $ 582,733 | $ 725,786 | $ 1,383,569 | $ 4,236,537 |
NUAG | NUSA | NUHY | NUBD | |
Undistributed net ordinary income1 | $220,238 | $92,174 | $316,622 | $328,878 |
Undistributed net long-term capital gains | — | — | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
NUAG | NUSA | NUHY 2 | NUBD | |
Distributions from net ordinary income1 | $3,772,060 | $894,030 | $1,805,740 | $2,152,900 |
Distributions from net long-term capital gains | — | — | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2 | For the period September 25, 2019 (commencement of operations) through July 31, 2020. |
NUAG | NUSA | NUHY | NUBD | |
Not subject to expiration: | ||||
Short-term | $ — | $ 28,655 | $1,888,460 | $202,693 |
Long-term | 846,276 | 204,239 | — | 85,295 |
Total | $846,276 | $232,894 | $1,888,460 | $287,988 |
NUAG | NUSA | |
Utilized capital loss carryforwards | $413,529 | $41,970 |
Fund | Management Fee |
NUAG | 0.20% |
NUSA | 0.20 |
NUHY | 0.35 |
NUBD | 0.20 |
NUAG | |
Nuveen owned shares | 0%* |
* | Rounds to less than 1%. |
NUHY | |
TIAA owned shares | 60% |
NUAG | NUSA | ||||
Six months ended January 31, 2021 | Number of Days | % of Total Days | Number of Days | % of Total Days | |
Premium/Discount Range: | |||||
Greater than 3.00% | - | - | - | - | |
1.01% to 3.00% | - | - | - | - | |
0.51% to 1.00% | - | - | - | - | |
0.26% to 0.50% | 3 | 2.4% | 18 | 14.4% | |
0.00 to 0.25% | 63 | 50.4% | 104 | 83.2% | |
(0.01)% to (0.25)% | 56 | 44.8% | 3 | 2.4% | |
(0.26)% to (0.50)% | 3 | 2.4% | - | - | |
(0.51)% to (1.00)% | - | - | - | - | |
(1.01)% to (3.00)% | - | - | - | - | |
Less than (3.00)% | - | - | - | - | |
125 | 100% | 125 | 100% |
NUHY | NUBD | ||||
Six months ended January 31, 2021 | Number of Days | % of Total Days | Number of Days | % of Total Days | |
Premium/Discount Range: | |||||
Greater than 3.00% | - | - | - | - | |
1.01% to 3.00% | 33 | 26.4% | - | - | |
0.51% to 1.00% | 84 | 67.2% | 1 | 0.8% | |
0.26% to 0.50% | 8 | 6.4% | 37 | 29.6% | |
0.00 to 0.25% | - | - | 85 | 68.0% | |
(0.01)% to (0.25)% | - | - | 2 | 1.6% | |
(0.26)% to (0.50)% | - | - | - | - | |
(0.51)% to (1.00)% | - | - | - | - | |
(1.01)% to (3.00)% | - | - | - | - | |
Less than (3.00)% | - | - | - | - | |
125 | 100% | 125 | 100% |
Serving Investors for Generations
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this filing.
Item 6. Schedule of Investments.
(a) See Portfolio of Investments in Item 1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to this registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
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 this report that includes the disclosure required by this paragraph, based on their evaluation of the 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 (the “Exchange Act”) (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.
File the exhibits listed below as part of this Form.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(a)(4) Change in registrant’s independent public accountant. Not applicable.
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) Nushares ETF Trust
By | (Signature and Title) | /s/ Diana R. Gonzalez | ||||
Diana R. Gonzalez Vice President and Secretary |
Date: April 8, 2021
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/ Jordan M. Farris | ||||
Jordan M. Farris Chief Administrative Officer (principal executive officer) |
Date: April 8, 2021
By | (Signature and Title) | /s/ E. Scott Wickerham | ||||
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: April 8, 2021