MainStay Candriam Emerging Markets Debt Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 93.7% | ||
Corporate Bonds 10.4% | ||
Brazil 4.4% | ||
Braskem Netherlands Finance BV | ||
Series Reg S | ||
4.50%, due 1/10/28 | $ 500,000 | $ 529,100 |
Series Reg S | ||
4.50%, due 1/31/30 | 900,000 | 949,500 |
Light Servicos de Eletricidade SA | ||
Series Reg S | ||
4.375%, due 6/18/26 | 1,750,000 | 1,777,650 |
Rede D'or Finance Sarl | ||
Series Reg S | ||
4.50%, due 1/22/30 | 1,500,000 | 1,528,140 |
4,784,390 | ||
Georgia 0.9% | ||
Georgian Railway JSC | ||
Series Reg S | ||
4.00%, due 6/17/28 | 950,000 | 959,500 |
Kazakhstan 1.7% | ||
KazMunayGas National Co. JSC | ||
Series Reg S | ||
4.75%, due 4/19/27 | 600,000 | 682,920 |
Series Reg S | ||
5.75%, due 4/19/47 | 700,000 | 870,940 |
Series Reg S | ||
6.375%, due 10/24/48 | 200,000 | 262,740 |
1,816,600 | ||
Mexico 1.8% | ||
Cemex SAB de CV | ||
Series Reg S | ||
3.875%, due 7/11/31 | 800,000 | 828,400 |
Series Reg S | ||
5.20%, due 9/17/30 | 300,000 | 328,500 |
Industrias Penoles SAB de CV | ||
Series Reg S | ||
4.75%, due 8/6/50 | 700,000 | 782,215 |
1,939,115 | ||
Saudi Arabia 0.5% | ||
SA Global Sukuk Ltd. | ||
Series Reg S | ||
1.602%, due 6/17/26 | 200,000 | 200,072 |
Series Reg S | ||
2.694%, due 6/17/31 | 350,000 | 358,750 |
558,822 |
Principal Amount | Value | |
Corporate Bonds | ||
Turkey 1.0% | ||
Aydem Yenilenebilir Enerji A/S | ||
Series Reg S | ||
7.75%, due 2/2/27 | $ 1,050,000 | $ 1,055,775 |
Venezuela 0.1% | ||
Petroleos de Venezuela SA | ||
5.375%, due 4/12/27 (a)(b)(c) | 3,000,000 | 127,500 |
Total Corporate Bonds (Cost $11,876,350) | 11,241,702 | |
Foreign Government Bonds 83.3% | ||
Argentina 3.0% | ||
Argentine Republic Government Bond | ||
0.50%, due 7/9/30 (d) | 513,757 | 186,751 |
1.00%, due 7/9/29 | 233,373 | 89,498 |
1.125%, due 7/9/35 (d) | 3,366,242 | 1,085,647 |
Provincia de Buenos Aires | ||
7.875%, due 6/15/27 (c)(e) | 4,000,000 | 1,920,000 |
3,281,896 | ||
Armenia 0.5% | ||
Armenia Government Bond | ||
Series Reg S | ||
3.95%, due 9/26/29 | 500,000 | 495,000 |
Azerbaijan 2.3% | ||
Southern Gas Corridor CJSC | ||
Series Reg S | ||
6.875%, due 3/24/26 | 800,000 | 948,456 |
State Oil Co. of the Azerbaijan Republic | ||
Series Reg S | ||
6.95%, due 3/18/30 | 1,200,000 | 1,488,833 |
2,437,289 | ||
Bahamas 1.4% | ||
Bahamas Government Bond | ||
Series Reg S | ||
6.00%, due 11/21/28 | 1,600,000 | 1,565,616 |
Bahrain 2.1% | ||
Bahrain Government Bond | ||
Series Reg S | ||
4.25%, due 1/25/28 | 300,000 | 298,266 |
Series Reg S | ||
5.25%, due 1/25/33 | 1,000,000 | 959,520 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Bahrain | ||
Bahrain Government Bond | ||
Series Reg S | ||
5.25%, due 1/25/33 | $ 400,000 | $ 383,808 |
Series Reg S | ||
6.25%, due 1/25/51 | 700,000 | 655,270 |
2,296,864 | ||
Belarus 1.1% | ||
Belarus Government Bond | ||
Series Reg S | ||
6.875%, due 2/28/23 | 600,000 | 600,996 |
Series Reg S | ||
7.625%, due 6/29/27 | 600,000 | 586,032 |
1,187,028 | ||
Chile 0.5% | ||
Chile Government Bond | ||
3.50%, due 4/15/53 | 550,000 | 580,602 |
Colombia 5.5% | ||
Colombia Government Bond | ||
3.00%, due 1/30/30 | 1,000,000 | 980,370 |
3.125%, due 4/15/31 | 500,000 | 489,955 |
4.125%, due 2/22/42 | 250,000 | 240,375 |
5.00%, due 6/15/45 | 500,000 | 522,740 |
6.125%, due 1/18/41 | 1,000,000 | 1,172,230 |
Series B | ||
7.00%, due 6/30/32 | COP 5,000,000,000 | 1,259,696 |
Series B | ||
7.25%, due 10/18/34 | 5,000,000,000 | 1,262,545 |
5,927,911 | ||
Costa Rica 1.7% | ||
Costa Rica Government Bond | ||
Series Reg S | ||
4.375%, due 4/30/25 | $ 400,000 | 411,604 |
Series Reg S | ||
6.125%, due 2/19/31 | 500,000 | 532,505 |
Series Reg S | ||
7.00%, due 4/4/44 | 800,000 | 840,000 |
1,784,109 | ||
Cote D'Ivoire 2.1% | ||
Ivory Coast Government Bond | ||
Series Reg S | ||
4.875%, due 1/30/32 | EUR 250,000 | 299,410 |
Series Reg S | ||
5.75%, due 12/31/32 (d) | $ 1,227,501 | 1,239,825 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Cote D'Ivoire | ||
Ivory Coast Government Bond | ||
Series Reg S | ||
6.125%, due 6/15/33 | $ 650,000 | $ 703,495 |
2,242,730 | ||
Dominican Republic 4.8% | ||
Dominican Republic Government Bond | ||
Series Reg S | ||
4.50%, due 1/30/30 | 600,000 | 614,706 |
Series Reg S | ||
4.875%, due 9/23/32 | 850,000 | 881,883 |
Series Reg S | ||
5.875%, due 1/30/60 | 900,000 | 908,109 |
Series Reg S | ||
5.95%, due 1/25/27 | 250,000 | 280,878 |
Series Reg S | ||
5.95%, due 1/25/27 | 1,750,000 | 1,966,142 |
Series Reg S | ||
6.85%, due 1/27/45 | 500,000 | 568,130 |
5,219,848 | ||
Ecuador 2.0% | ||
Ecuador Government Bond | ||
Series Reg S | ||
(zero coupon), due 7/31/30 | 208,496 | 115,196 |
Series Reg S | ||
0.50%, due 7/31/40 (d) | 2,900,000 | 1,783,529 |
Series Reg S | ||
1.00%, due 7/31/35 (d) | 400,000 | 277,004 |
2,175,729 | ||
Egypt 4.7% | ||
Egypt Government Bond | ||
Series Reg S | ||
3.875%, due 2/16/26 | 800,000 | 780,000 |
Series Reg S | ||
5.25%, due 10/6/25 | 650,000 | 681,786 |
Series Reg S | ||
5.875%, due 2/16/31 | 800,000 | 769,600 |
Series Reg S | ||
6.875%, due 4/30/40 | 1,200,000 | 1,153,932 |
Series Reg S | ||
7.50%, due 1/31/27 | 200,000 | 221,617 |
Series Reg S | ||
7.50%, due 2/16/61 | 450,000 | 418,500 |
Series Reg S | ||
8.70%, due 3/1/49 | 1,000,000 | 1,043,960 |
5,069,395 |
Principal Amount | Value | |
Foreign Government Bonds | ||
El Salvador 1.6% | ||
El Salvador Government Bond | ||
Series Reg S | ||
5.875%, due 1/30/25 | $ 89,000 | $ 79,700 |
Series Reg S | ||
6.375%, due 1/18/27 | 511,000 | 444,575 |
Series Reg S | ||
7.625%, due 2/1/41 | 1,500,000 | 1,252,515 |
1,776,790 | ||
Ghana 3.1% | ||
Ghana Government Bond | ||
Series Reg S | ||
7.75%, due 4/7/29 | 1,700,000 | 1,712,087 |
Series Reg S | ||
7.875%, due 2/11/35 | 1,000,000 | 959,156 |
Series Reg S | ||
8.625%, due 4/7/34 | 450,000 | 454,493 |
Series Reg S | ||
8.627%, due 6/16/49 | 250,000 | 236,994 |
3,362,730 | ||
Guatemala 1.1% | ||
Guatemala Government Bond | ||
Series Reg S | ||
4.90%, due 6/1/30 | 500,000 | 556,255 |
Series Reg S | ||
6.125%, due 6/1/50 | 500,000 | 597,505 |
1,153,760 | ||
Honduras 0.7% | ||
Honduras Government Bond | ||
Series Reg S | ||
5.625%, due 6/24/30 | 700,000 | 730,625 |
Indonesia 2.6% | ||
Indonesia Government Bond | ||
5.125%, due 1/15/45 (e) | 1,000,000 | 1,243,978 |
Pertamina Persero PT | ||
Series Reg S | ||
4.175%, due 1/21/50 | 400,000 | 411,412 |
5.625%, due 5/20/43 (e) | 500,000 | 591,132 |
Perusahaan Penerbit SBSN Indonesia III | ||
Series Reg S | ||
2.55%, due 6/9/31 | 600,000 | 602,142 |
2,848,664 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Iraq 1.2% | ||
Iraq Government Bond | ||
Series Reg S | ||
5.80%, due 1/15/28 | $ 528,125 | $ 504,359 |
Series Reg S | ||
6.752%, due 3/9/23 | 800,000 | 811,496 |
1,315,855 | ||
Jamaica 0.6% | ||
Jamaica Government Bond | ||
7.875%, due 7/28/45 | 500,000 | 697,500 |
Jordan 0.7% | ||
Jordan Government Bond | ||
Series Reg S | ||
7.375%, due 10/10/47 | 750,000 | 786,150 |
Kenya 2.3% | ||
Kenya Government Bond | ||
Series Reg S | ||
6.30%, due 1/23/34 | 400,000 | 403,808 |
Series Reg S | ||
6.875%, due 6/24/24 | 500,000 | 549,310 |
7.25%, due 2/28/28 (e) | 200,000 | 220,680 |
Series Reg S | ||
8.00%, due 5/22/32 | 1,000,000 | 1,129,260 |
Series Reg S | ||
8.25%, due 2/28/48 | 200,000 | 221,102 |
2,524,160 | ||
Lebanon 0.2% | ||
Lebanon Government Bond (a)(c) | ||
Series Reg S | ||
6.65%, due 4/22/24 | 1,200,000 | 144,000 |
Series Reg S | ||
6.85%, due 3/23/27 | 1,000,000 | 120,514 |
264,514 | ||
Mexico 1.7% | ||
Mexico Government Bond | ||
3.75%, due 4/19/71 | 1,000,000 | 922,250 |
3.771%, due 5/24/61 | 1,000,000 | 930,000 |
1,852,250 | ||
Mongolia 0.9% | ||
Mongolia Government Bond | ||
Series Reg S | ||
3.50%, due 7/7/27 | 200,000 | 193,714 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Mongolia | ||
Mongolia Government Bond | ||
Series Reg S | ||
4.45%, due 7/7/31 | $ 200,000 | $ 195,341 |
Series Reg S | ||
5.125%, due 4/7/26 | 400,000 | 421,407 |
Series Reg S | ||
5.625%, due 5/1/23 | 200,000 | 210,000 |
1,020,462 | ||
Morocco 1.4% | ||
Morocco Government Bond | ||
Series Reg S | ||
3.00%, due 12/15/32 | 250,000 | 242,975 |
OCP SA | ||
Series Reg S | ||
3.75%, due 6/23/31 | 200,000 | 202,614 |
Series Reg S | ||
5.125%, due 6/23/51 | 1,000,000 | 1,019,000 |
1,464,589 | ||
Namibia 1.0% | ||
Namibia Government Bond | ||
Series Reg S | ||
5.25%, due 10/29/25 | 1,000,000 | 1,072,940 |
Nigeria 1.7% | ||
Nigeria Government Bond | ||
6.50%, due 11/28/27 (e) | 500,000 | 530,670 |
Series Reg S | ||
7.625%, due 11/28/47 | 500,000 | 501,964 |
Series Reg S | ||
7.875%, due 2/16/32 | 700,000 | 749,000 |
1,781,634 | ||
Oman 3.9% | ||
Oman Government Bond | ||
Series Reg S | ||
4.875%, due 2/1/25 | 400,000 | 418,000 |
Series Reg S | ||
4.875%, due 2/1/25 | 200,000 | 209,000 |
Series Reg S | ||
6.25%, due 1/25/31 | 1,000,000 | 1,079,784 |
Series Reg S | ||
6.25%, due 1/25/31 | 500,000 | 539,892 |
Series Reg S | ||
7.00%, due 1/25/51 | 1,000,000 | 1,032,500 |
Series Reg S | ||
7.00%, due 1/25/51 | 300,000 | 309,750 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Oman | ||
Oman Sovereign Sukuk Co. | ||
Series Reg S | ||
4.875%, due 6/15/30 | $ 600,000 | $ 624,000 |
4,212,926 | ||
Pakistan 2.0% | ||
Pakistan Government Bond | ||
Series Reg S | ||
7.375%, due 4/8/31 | 800,000 | 803,616 |
Series Reg S | ||
8.875%, due 4/8/51 | 1,300,000 | 1,339,000 |
2,142,616 | ||
Panama 1.0% | ||
Panama Government Bond | ||
2.252%, due 9/29/32 | 300,000 | 290,892 |
3.87%, due 7/23/60 | 750,000 | 774,803 |
1,065,695 | ||
Paraguay 0.7% | ||
Paraguay Government Bond | ||
Series Reg S | ||
2.739%, due 1/29/33 | 495,000 | 483,125 |
Series Reg S | ||
5.40%, due 3/30/50 | 200,000 | 235,252 |
718,377 | ||
Peru 0.5% | ||
Peruvian Government Bond | ||
2.783%, due 1/23/31 | 500,000 | 501,945 |
Philippines 0.9% | ||
Philippine Government Bond | ||
1.648%, due 6/10/31 | 300,000 | 289,814 |
3.70%, due 3/1/41 | 300,000 | 326,483 |
3.75%, due 1/14/29 | 300,000 | 339,314 |
955,611 | ||
Qatar 1.3% | ||
Qatar Petroleum | ||
Series Reg S | ||
2.25%, due 7/12/31 | 900,000 | 910,577 |
Series Reg S | ||
3.30%, due 7/12/51 | 450,000 | 466,312 |
1,376,889 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Republic Of Serbia 0.5% | ||
Serbia Government Bond | ||
Series Reg S | ||
2.125%, due 12/1/30 | $ 550,000 | $ 523,534 |
Romania 2.0% | ||
Romanian Government Bond | ||
Series Reg S | ||
3.00%, due 2/14/31 | 300,000 | 311,367 |
Series Reg S | ||
3.375%, due 2/8/38 | EUR 500,000 | 644,727 |
Series Reg S | ||
4.00%, due 2/14/51 | $ 600,000 | 634,518 |
Series Reg S | ||
5.125%, due 6/15/48 | 500,000 | 618,750 |
2,209,362 | ||
Saudi Arabia 2.0% | ||
Saudi Arabian Oil Co. | ||
Series Reg S | ||
1.625%, due 11/24/25 | 250,000 | 252,525 |
Series Reg S | ||
2.25%, due 11/24/30 | 700,000 | 693,000 |
Series Reg S | ||
2.25%, due 11/24/30 | 300,000 | 297,000 |
Series Reg S | ||
3.25%, due 11/24/50 | 900,000 | 879,570 |
2,122,095 | ||
Senegal 1.1% | ||
Senegal Government Bond | ||
Series Reg S | ||
5.375%, due 6/8/37 | EUR 400,000 | 473,931 |
Series Reg S | ||
6.25%, due 5/23/33 | $ 400,000 | 423,960 |
Series Reg S | ||
6.75%, due 3/13/48 | 250,000 | 255,655 |
1,153,546 | ||
South Africa 4.3% | ||
South Africa Government Bond | ||
4.85%, due 9/30/29 | 500,000 | 527,950 |
4.875%, due 4/14/26 | 1,000,000 | 1,089,800 |
5.75%, due 9/30/49 | 600,000 | 608,220 |
6.25%, due 3/8/41 | 500,000 | 549,940 |
Series 2030 | ||
8.00%, due 1/31/30 | ZAR 28,000,000 | 1,817,982 |
4,593,892 |
Principal Amount | Value | |
Foreign Government Bonds | ||
Sri Lanka 0.6% | ||
Sri Lanka Government Bond | ||
Series Reg S | ||
6.20%, due 5/11/27 | $ 200,000 | $ 122,330 |
Series Reg S | ||
6.75%, due 4/18/28 | 400,000 | 244,624 |
Series Reg S | ||
6.85%, due 11/3/25 | 500,000 | 318,200 |
685,154 | ||
Tunisia 0.8% | ||
Banque Centrale de Tunisie International Bond | ||
Series Reg S | ||
5.625%, due 2/17/24 | EUR 650,000 | 659,289 |
Series Reg S | ||
5.75%, due 1/30/25 | $ 200,000 | 169,058 |
828,347 | ||
Turkey 1.9% | ||
Turkey Government Bond | ||
5.75%, due 5/11/47 | 1,200,000 | 1,036,056 |
6.875%, due 3/17/36 | 1,000,000 | 1,018,500 |
2,054,556 | ||
Ukraine 3.3% | ||
State Agency of Roads of Ukraine | ||
Series Reg S | ||
6.25%, due 6/24/28 | 1,800,000 | 1,782,000 |
Ukraine Government Bond | ||
Series Reg S | ||
1.258%, due 5/31/40 (f) | 1,200,000 | 1,396,162 |
Series Reg S | ||
7.75%, due 9/1/27 | 400,000 | 437,600 |
3,615,762 | ||
United Arab Emirates 2.2% | ||
Finance Department Government of Sharjah | ||
Series Reg S | ||
3.625%, due 3/10/33 | 1,600,000 | 1,596,000 |
Series Reg S | ||
4.00%, due 7/28/50 | 800,000 | 725,920 |
2,321,920 | ||
Uruguay 0.5% | ||
Uruguay Government Bond | ||
5.10%, due 6/18/50 | 400,000 | 523,944 |
Principal Amount | Value | ||
Foreign Government Bonds | |||
Uzbekistan 0.2% | |||
Republic of Uzbekistan Bond | |||
Series Reg S | |||
3.70%, due 11/25/30 | $ 250,000 | $ 246,642 | |
Venezuela 0.6% | |||
Petroleos de Venezuela SA (a)(b)(c) | |||
Series Reg S | |||
6.00%, due 5/16/24 | 2,500,000 | 106,250 | |
Series Reg S | |||
6.00%, due 11/15/26 (f) | 2,500,000 | 106,250 | |
Venezuela Government Bond | |||
Series Reg S | |||
9.25%, due 5/7/28 (a)(b)(c) | 4,095,000 | 421,785 | |
634,285 | |||
Zambia 0.5% | |||
Zambia Government Bond | |||
Series Reg S | |||
8.97%, due 7/30/27 | 800,000 | 516,200 | |
Total Foreign Government Bonds (Cost $95,378,467) | 89,919,938 | ||
Total Long-Term Bonds (Cost $107,254,817) | 101,161,640 | ||
Total Investments (Cost $107,254,817) | 93.7% | 101,161,640 | |
Other Assets, Less Liabilities | 6.3 | 6,812,286 | |
Net Assets | 100.0% | $ 107,973,926 |
† | Percentages indicated are based on Fund net assets. |
(a) | Issue in default. |
(b) | Illiquid security—As of July 31, 2021, the total market value deemed illiquid under procedures approved by the Board of Trustees was $761,785, which represented 0.7% of the Fund’s net assets. |
(c) | Issue in non-accrual status. |
(d) | Step coupon—Rate shown was the rate in effect as of July 31, 2021. |
(e) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(f) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
Foreign Currency Forward Contracts
As of July 31, 2021, the Fund held the following foreign currency forward contracts1:
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
USD | 1,843,737 | ZAR | 27,000,000 | Barclays London | 9/15/21 | $ 11,175 |
Total Unrealized Appreciation | 11,175 | |||||
USD | 944,941 | EUR | 800,000 | Barclays London | 9/15/21 | (4,887) |
Total Unrealized Depreciation | (4,887) | |||||
Net Unrealized Appreciation | $ 6,288 |
1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
Futures Contracts
As of July 31, 2021, the Fund held the following futures contracts1:
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 10 Year Ultra Bonds | (110) | September 2021 | $ (15,911,971) | $ (16,527,500) | $ (615,529) |
Euro-Bund | (10) | September 2021 | (2,037,387) | (2,094,562) | (57,175) |
Net Unrealized Depreciation | $ (672,704) |
1. | As of July 31, 2021, cash in the amount of $328,848 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of July 31, 2021. |
Abbreviation(s): |
COP—Colombia Peso |
EUR—Euro |
USD—United States Dollar |
ZAR—South African Rand |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets and liabilities:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Corporate Bonds | $ — | $ 11,241,702 | $ — | $ 11,241,702 | |||
Foreign Government Bonds | — | 89,919,938 | — | 89,919,938 | |||
Total Investments in Securities | — | 101,161,640 | — | 101,161,640 | |||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | — | 11,175 | — | 11,175 | |||
Total Investments in Securities and Other Financial Instruments | $ — | $ 101,172,815 | $ — | $ 101,172,815 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | $ — | $ (4,887) | $ — | $ (4,887) | |||
Futures Contracts (b) | (672,704) | — | — | (672,704) | |||
Total Other Financial Instruments | $ (672,704) | $ (4,887) | $ — | $ (677,591) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
MainStay Income Builder Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 48.4% | ||
Asset-Backed Securities 4.0% | ||
Automobile Asset-Backed Securities 1.1% | ||
American Credit Acceptance Receivables Trust | ||
Series 2021-3, Class D | ||
1.34%, due 11/15/27 (a) | $ 1,535,000 | $ 1,535,294 |
Avis Budget Rental Car Funding AESOP LLC | ||
Series 2021-1A, Class A | ||
1.38%, due 8/20/27 (a) | 2,700,000 | 2,707,118 |
Series 2020-2A, Class A | ||
2.02%, due 2/20/27 (a) | 845,000 | 873,199 |
Series 2020-1A, Class A | ||
2.33%, due 8/20/26 (a) | 1,135,000 | 1,192,135 |
Ford Credit Auto Owner Trust | ||
Series 2020-2, Class A | ||
1.06%, due 4/15/33 (a) | 1,105,000 | 1,109,855 |
Series 2020-1, Class A | ||
2.04%, due 8/15/31 (a) | 1,005,000 | 1,049,165 |
Ford Credit Floorplan Master Owner Trust | ||
Series 2019-4, Class A | ||
2.44%, due 9/15/26 | 2,015,000 | 2,124,265 |
Series 2017-3, Class A | ||
2.48%, due 9/15/24 | 1,270,000 | 1,301,544 |
Series 2018-4, Class A | ||
4.06%, due 11/15/30 | 1,480,000 | 1,689,056 |
Hertz Vehicle Financing III LP | ||
Series 2021-2A, Class A | ||
1.68%, due 12/27/27 (a) | 1,915,000 | 1,939,954 |
Series 2021-2A, Class B | ||
2.12%, due 12/27/27 (a) | 405,000 | 410,879 |
Hertz Vehicle Financing LLC | ||
Series 2021-1A, Class B | ||
1.56%, due 12/26/25 (a) | 1,235,000 | 1,242,469 |
JPMorgan Chase Bank NA | ||
Series 2020-1, Class B | ||
0.991%, due 1/25/28 (a) | 593,329 | 595,145 |
Santander Revolving Auto Loan Trust | ||
Series 2019-A, Class A | ||
2.51%, due 1/26/32 (a) | 720,000 | 761,008 |
18,531,086 | ||
Credit Card Asset-Backed Securities 0.2% | ||
Capital One Multi-Asset Execution Trust | ||
Series 2021-A2, Class A2 | ||
1.39%, due 7/15/30 | 2,500,000 | 2,520,805 |
Series 2019-A3, Class A3 | ||
2.06%, due 8/15/28 | 1,330,000 | 1,404,070 |
3,924,875 |
Principal Amount | Value | |
Asset-Backed Securities | ||
Home Equity Asset-Backed Securities 0.2% | ||
Carrington Mortgage Loan Trust | ||
Series 2007-HE1, Class A3 | ||
0.279% (1 Month LIBOR + 0.19%), due 6/25/37 (b) | $ 3,075,634 | $ 3,037,129 |
Chase Funding Trust | ||
Series 2002-2, Class 1A5 | ||
6.333%, due 4/25/32 (c) | 27,349 | 27,801 |
Equity One Mortgage Pass-Through Trust | ||
Series 2003-3, Class AF4 | ||
5.495%, due 12/25/33 (c) | 56,295 | 56,876 |
JPMorgan Mortgage Acquisition Trust | ||
Series 2007-HE1, Class AF1 | ||
0.189% (1 Month LIBOR + 0.10%), due 3/25/47 (b) | 347,086 | 233,789 |
Mastr Asset-Backed Securities Trust | ||
Series 2006-HE4, Class A1 | ||
0.189% (1 Month LIBOR + 0.10%), due 11/25/36 (b) | 526,581 | 232,912 |
3,588,507 | ||
Other Asset-Backed Securities 2.5% | ||
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA | ||
3.20%, due 6/15/28 | 535,160 | 545,981 |
Series 2016-2, Class A | ||
3.65%, due 6/15/28 | 1,243,460 | 1,210,144 |
Series 2013-2, Class A | ||
4.95%, due 1/15/23 | 1,796,123 | 1,831,956 |
British Airways Pass-Through Trust | ||
Series 2021-1, Class A | ||
2.90%, due 3/15/35 (United Kingdom) (a) | 1,990,000 | 2,019,850 |
CF Hippolyta LLC | ||
Series 2021-1A, Class A1 | ||
1.53%, due 3/15/61 (a) | 1,181,419 | 1,201,976 |
Series 2020-1, Class A1 | ||
1.69%, due 7/15/60 (a) | 2,126,591 | 2,174,219 |
Series 2020-1, Class A2 | ||
1.99%, due 7/15/60 (a) | 1,215,159 | 1,240,978 |
Crown Castle Towers LLC | ||
4.241%, due 7/15/28 (a) | 2,680,000 | 3,040,562 |
CVS Pass-Through Trust | ||
5.789%, due 1/10/26 (a) | 103,758 | 113,734 |
FirstKey Homes Trust | ||
Series 2021-SFR1, Class A | ||
1.538%, due 8/17/38 (a) | 2,775,000 | 2,799,677 |
MMAF Equipment Finance LLC | ||
Series 2020-BA, Class A4 | ||
0.66%, due 11/15/27 (a) | 3,750,000 | 3,743,056 |
MVW LLC | ||
Series 2019-2A, Class A | ||
2.22%, due 10/20/38 (a) | 1,359,133 | 1,388,285 |
Principal Amount | Value | |
Asset-Backed Securities | ||
Other Asset-Backed Securities | ||
Navient Private Education Refi Loan Trust | ||
Series 2020-DA, Class A | ||
1.69%, due 5/15/69 (a) | $ 542,278 | $ 548,884 |
Series 2020-EA, Class A | ||
1.69%, due 5/15/69 (a) | 1,077,460 | 1,096,550 |
Series 2021-EA, Class B | ||
2.03%, due 12/16/69 (a) | 2,765,000 | 2,756,231 |
PFS Financing Corp. | ||
Series 2020-B, Class B | ||
1.71%, due 6/15/24 (a) | 830,000 | 837,654 |
Series 2020-A, Class B | ||
1.77%, due 6/15/25 (a) | 1,780,000 | 1,808,425 |
Progress Residential | ||
Series 2021-SFR1, Class A | ||
1.052%, due 4/17/38 (a) | 1,565,000 | 1,548,038 |
Series 2021-SFR3, Class A | ||
1.637%, due 5/17/26 (a) | 927,818 | 942,251 |
Series 2021-SFR4, Class B | ||
1.808%, due 5/17/38 (a) | 1,780,000 | 1,799,356 |
Progress Residential Trust | ||
Series 2021-SFR2, Class A | ||
1.546%, due 4/19/38 (a) | 885,000 | 894,555 |
Series 2021-SFR2, Class B | ||
1.796%, due 4/19/38 (a) | 2,500,000 | 2,521,042 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2020-2A, Class A | ||
1.33%, due 7/20/37 (a) | 939,124 | 946,872 |
U.S. Airways Pass-Through Trust | ||
Series 2012-1, Class A | ||
5.90%, due 10/1/24 | 1,194,484 | 1,257,185 |
Series 2010-1, Class A | ||
6.25%, due 4/22/23 | 531,612 | 540,499 |
United Airlines Pass-Through Trust | ||
Series 2020-1, Class A | ||
5.875%, due 10/15/27 | 1,827,126 | 2,032,487 |
Series 2007-1 | ||
6.636%, due 7/2/22 | 834,823 | 861,955 |
41,702,402 | ||
Total Asset-Backed Securities (Cost $65,960,746) | 67,746,870 | |
Corporate Bonds 28.8% | ||
Aerospace & Defense 0.2% | ||
BAE Systems plc | ||
3.00%, due 9/15/50 (United Kingdom) (a) | 1,285,000 | 1,293,291 |
Principal Amount | Value | |
Corporate Bonds | ||
Aerospace & Defense | ||
L3Harris Technologies, Inc. | ||
4.40%, due 6/15/28 | $ 2,215,000 | $ 2,588,392 |
3,881,683 | ||
Agriculture 0.1% | ||
BAT Capital Corp. | ||
3.734%, due 9/25/40 (United Kingdom) | 2,105,000 | 2,113,858 |
Airlines 0.5% | ||
American Airlines, Inc. | ||
5.50%, due 4/20/26 (a) | 1,400,000 | 1,464,750 |
5.75%, due 4/20/29 (a) | 850,000 | 916,878 |
Delta Air Lines, Inc. | ||
4.50%, due 10/20/25 (a) | 1,080,000 | 1,161,000 |
4.75%, due 10/20/28 (a) | 755,000 | 843,713 |
7.00%, due 5/1/25 (a) | 2,310,000 | 2,717,137 |
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (a) | 1,860,000 | 2,025,075 |
9,128,553 | ||
Auto Manufacturers 1.0% | ||
Ford Motor Co. | ||
8.50%, due 4/21/23 | 2,100,000 | 2,331,483 |
9.00%, due 4/22/25 | 2,200,000 | 2,708,090 |
Ford Motor Credit Co. LLC | ||
3.35%, due 11/1/22 | 820,000 | 838,630 |
4.063%, due 11/1/24 | 1,935,000 | 2,050,800 |
4.25%, due 9/20/22 | 655,000 | 672,908 |
General Motors Co. | ||
6.125%, due 10/1/25 | 670,000 | 793,075 |
General Motors Financial Co., Inc. | ||
2.35%, due 1/8/31 | 810,000 | 810,535 |
2.70%, due 6/10/31 | 2,015,000 | 2,063,450 |
3.15%, due 6/30/22 | 900,000 | 920,026 |
3.45%, due 4/10/22 | 3,800,000 | 3,859,356 |
17,048,353 | ||
Banks 7.1% | ||
Bank of America Corp. | ||
2.087%, due 6/14/29 (d) | 1,690,000 | 1,720,878 |
2.496%, due 2/13/31 (d) | 1,600,000 | 1,648,730 |
3.004%, due 12/20/23 (d) | 1,794,000 | 1,857,048 |
3.194%, due 7/23/30 (d) | 1,425,000 | 1,545,633 |
3.458%, due 3/15/25 (d) | 1,700,000 | 1,814,736 |
4.20%, due 8/26/24 | 2,615,000 | 2,866,112 |
Series MM | ||
4.30%, due 1/28/25 (d)(e) | 3,519,000 | 3,628,793 |
Principal Amount | Value | |
Corporate Bonds | ||
Banks | ||
Bank of America Corp. | ||
Series DD | ||
6.30%, due 3/10/26 (d)(e) | $ 2,085,000 | $ 2,434,237 |
8.57%, due 11/15/24 | 485,000 | 601,805 |
BNP Paribas SA (France) | ||
3.052%, due 1/13/31 (a)(d) | 3,630,000 | 3,875,213 |
4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 (a)(b)(e) | 1,705,000 | 1,772,859 |
Citigroup, Inc. | ||
3.352%, due 4/24/25 (d) | 2,565,000 | 2,738,964 |
3.668%, due 7/24/28 (d) | 1,180,000 | 1,308,771 |
3.98%, due 3/20/30 (d) | 2,370,000 | 2,699,876 |
4.05%, due 7/30/22 | 105,000 | 108,850 |
5.30%, due 5/6/44 | 1,200,000 | 1,633,833 |
6.625%, due 6/15/32 | 770,000 | 1,059,929 |
6.875%, due 6/1/25 | 1,715,000 | 2,069,924 |
Citizens Financial Group, Inc. | ||
2.638%, due 9/30/32 | 3,405,000 | 3,448,259 |
Credit Suisse Group AG (Switzerland) | ||
2.593%, due 9/11/25 (a)(d) | 3,000,000 | 3,127,890 |
3.091%, due 5/14/32 (a)(d) | 1,930,000 | 2,016,007 |
Deutsche Bank AG | ||
3.035%, due 5/28/32 (Germany) (d) | 995,000 | 1,029,127 |
First Horizon Bank | ||
5.75%, due 5/1/30 | 1,555,000 | 1,937,241 |
First Horizon Corp. | ||
4.00%, due 5/26/25 | 2,100,000 | 2,319,229 |
Freedom Mortgage Corp. | ||
7.625%, due 5/1/26 (a) | 1,595,000 | 1,636,869 |
Goldman Sachs Group, Inc. (The) | ||
1.326% (3 Month LIBOR + 1.17%), due 5/15/26 (b) | 2,245,000 | 2,303,783 |
1.431%, due 3/9/27 (d) | 1,255,000 | 1,261,065 |
1.992%, due 1/27/32 (d) | 1,370,000 | 1,349,540 |
2.615%, due 4/22/32 (d) | 1,005,000 | 1,041,540 |
2.905%, due 7/24/23 (d) | 880,000 | 900,566 |
2.908%, due 6/5/23 (d) | 800,000 | 816,769 |
2.908%, due 7/21/42 (d) | 510,000 | 515,994 |
3.50%, due 11/16/26 | 1,085,000 | 1,184,847 |
6.75%, due 10/1/37 | 829,000 | 1,226,910 |
HSBC Holdings plc | ||
3.973%, due 5/22/30 (United Kingdom) (d) | 2,365,000 | 2,668,186 |
JPMorgan Chase & Co. | ||
2.182%, due 6/1/28 (d) | 1,800,000 | 1,859,343 |
2.956%, due 5/13/31 (d) | 1,115,000 | 1,187,468 |
3.207%, due 4/1/23 (d) | 3,915,000 | 3,989,890 |
3.54%, due 5/1/28 (d) | 1,980,000 | 2,194,524 |
Series HH | ||
4.60%, due 2/1/25 (d)(e) | 3,047,000 | 3,153,645 |
Principal Amount | Value | |
Corporate Bonds | ||
Banks | ||
Lloyds Banking Group plc (United Kingdom) | ||
4.582%, due 12/10/25 | $ 1,633,000 | $ 1,840,610 |
4.65%, due 3/24/26 | 3,090,000 | 3,524,770 |
Morgan Stanley | ||
3.125%, due 1/23/23 | 4,435,000 | 4,613,069 |
Series H | ||
3.736% (3 Month LIBOR + 3.61%), due 10/15/21 (b)(e) | 1,890,000 | 1,897,560 |
5.00%, due 11/24/25 | 2,855,000 | 3,298,084 |
7.25%, due 4/1/32 | 490,000 | 723,607 |
Natwest Group plc | ||
3.073% (1 Year Treasury Constant Maturity Rate + 2.55%), due 5/22/28 (United Kingdom) (b) | 3,705,000 | 3,955,912 |
PNC Bank NA | ||
2.55%, due 12/9/21 | 2,185,000 | 2,198,881 |
PNC Financial Services Group, Inc. (The) | ||
2.55%, due 1/22/30 | 1,980,000 | 2,098,900 |
Societe Generale SA (France) | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 (a)(b)(e) | 935,000 | 965,388 |
5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 (a)(b)(e) | 3,305,000 | 3,569,400 |
Standard Chartered plc (United Kingdom) | ||
2.678% (1 Year Treasury Constant Maturity Rate + 1.20%), due 6/29/32 (a)(b) | 1,245,000 | 1,262,088 |
4.75% (5 Year Treasury Constant Maturity Rate + 3.805%), due 1/14/31 (a)(b)(e) | 1,225,000 | 1,255,625 |
SVB Financial Group | ||
Series C | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.202%), due 5/15/26 (b)(e) | 1,810,000 | 1,880,138 |
Truist Bank | ||
2.636% (5 Year Treasury Constant Maturity Rate + 1.15%), due 9/17/29 (b) | 1,900,000 | 1,992,415 |
UBS Group AG | ||
4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (Switzerland) (a)(b)(e) | 2,350,000 | 2,420,500 |
Wachovia Corp. | ||
5.50%, due 8/1/35 | 315,000 | 417,303 |
Wells Fargo & Co. | ||
2.406%, due 10/30/25 (d) | 1,795,000 | 1,877,026 |
4.90%, due 11/17/45 | 55,000 | 71,609 |
Wells Fargo Bank NA | ||
3.55%, due 8/14/23 | 1,815,000 | 1,930,006 |
5.85%, due 2/1/37 | 140,000 | 195,038 |
118,542,812 | ||
Beverages 0.2% | ||
Anheuser-Busch InBev Worldwide, Inc. | ||
4.75%, due 1/23/29 (Belgium) | 3,075,000 | 3,698,790 |
Biotechnology 0.2% | ||
Biogen, Inc. | ||
3.625%, due 9/15/22 | 3,480,000 | 3,606,079 |
Principal Amount | Value | |
Corporate Bonds | ||
Building Materials 0.6% | ||
Builders FirstSource, Inc. | ||
5.00%, due 3/1/30 (a) | $ 1,270,000 | $ 1,350,962 |
6.75%, due 6/1/27 (a) | 1,044,000 | 1,117,080 |
Carrier Global Corp. | ||
2.722%, due 2/15/30 | 2,265,000 | 2,399,136 |
Cemex SAB de CV | ||
3.125%, due 3/19/26 (Mexico) (a) | EUR 4,255,000 | 5,174,085 |
10,041,263 | ||
Chemicals 0.6% | ||
Air Liquide Finance SA | ||
1.75%, due 9/27/21 (France) (a) | $ 1,725,000 | 1,727,053 |
Braskem Netherlands Finance BV | ||
4.50%, due 1/10/28 (Brazil) (a) | 2,135,000 | 2,259,257 |
Huntsman International LLC | ||
4.50%, due 5/1/29 | 1,862,000 | 2,146,073 |
International Flavors & Fragrances, Inc. | ||
1.832%, due 10/15/27 (a) | 2,300,000 | 2,327,100 |
Orbia Advance Corp. SAB de CV | ||
4.00%, due 10/4/27 (Mexico) (a) | 1,800,000 | 1,977,300 |
10,436,783 | ||
Commercial Services 0.6% | ||
Allied Universal Holdco LLC | ||
6.625%, due 7/15/26 (a) | 1,650,000 | 1,746,938 |
Ashtead Capital, Inc. | ||
4.00%, due 5/1/28 (United Kingdom) (a) | 935,000 | 984,088 |
California Institute of Technology | ||
3.65%, due 9/1/19 | 1,413,000 | 1,658,182 |
Cintas Corp. No. 2 | ||
3.70%, due 4/1/27 | 2,740,000 | 3,081,062 |
Sodexo, Inc. | ||
2.718%, due 4/16/31 (France) (a) | 2,370,000 | 2,455,029 |
9,925,299 | ||
Computers 0.8% | ||
Apple, Inc. | ||
2.75%, due 1/13/25 | 1,990,000 | 2,126,126 |
Dell International LLC | ||
4.90%, due 10/1/26 | 1,749,000 | 2,038,617 |
5.30%, due 10/1/29 | 810,000 | 991,676 |
8.10%, due 7/15/36 | 2,300,000 | 3,575,651 |
International Business Machines Corp. | ||
7.00%, due 10/30/25 | 2,050,000 | 2,565,294 |
NCR Corp. | ||
5.00%, due 10/1/28 (a) | 2,376,000 | 2,446,746 |
13,744,110 |
Principal Amount | Value | |
Corporate Bonds | ||
Diversified Financial Services 2.1% | ||
AerCap Ireland Capital DAC (Ireland) | ||
3.30%, due 1/23/23 | $ 1,275,000 | $ 1,319,579 |
4.45%, due 12/16/21 | 1,465,000 | 1,481,567 |
4.625%, due 7/1/22 | 964,000 | 999,841 |
Air Lease Corp. | ||
2.30%, due 2/1/25 | 2,990,000 | 3,107,523 |
2.75%, due 1/15/23 | 1,850,000 | 1,908,117 |
3.50%, due 1/15/22 | 890,000 | 902,905 |
4.25%, due 9/15/24 | 1,185,000 | 1,294,562 |
Aircastle Ltd. | ||
5.25% (5 Year Treasury Constant Maturity Rate + 4.41%), due 6/15/26 (a)(b)(e) | 1,150,000 | 1,161,500 |
Ally Financial, Inc. | ||
3.875%, due 5/21/24 | 810,000 | 875,859 |
8.00%, due 11/1/31 | 3,260,000 | 4,741,082 |
Aviation Capital Group LLC | ||
1.95%, due 1/30/26 (a) | 1,210,000 | 1,221,234 |
Avolon Holdings Funding Ltd. (Ireland) | ||
2.125%, due 2/21/26 (a) | 1,515,000 | 1,522,046 |
2.875%, due 2/15/25 (a) | 2,720,000 | 2,818,708 |
Banco BTG Pactual SA (Brazil) | ||
2.75%, due 1/11/26 (a) | 2,630,000 | 2,559,253 |
4.50%, due 1/10/25 (a) | 850,000 | 879,750 |
Capital One Financial Corp. | ||
4.20%, due 10/29/25 | 435,000 | 488,622 |
Discover Financial Services | ||
3.85%, due 11/21/22 | 1,491,000 | 1,557,714 |
Home Point Capital, Inc. | ||
5.00%, due 2/1/26 (a) | 1,085,000 | 1,001,292 |
Intercontinental Exchange, Inc. | ||
3.00%, due 9/15/60 | 1,970,000 | 1,959,965 |
OneMain Finance Corp. | ||
3.50%, due 1/15/27 | 885,000 | 900,488 |
6.125%, due 3/15/24 | 540,000 | 581,175 |
PennyMac Financial Services, Inc. | ||
4.25%, due 2/15/29 (a) | 1,275,000 | 1,234,257 |
5.375%, due 10/15/25 (a) | 350,000 | 367,269 |
34,884,308 | ||
Electric 1.0% | ||
Connecticut Light and Power Co. (The) | ||
4.00%, due 4/1/48 | 1,145,000 | 1,419,671 |
Duquesne Light Holdings, Inc. | ||
3.616%, due 8/1/27 (a) | 2,265,000 | 2,478,882 |
Entergy Louisiana LLC | ||
4.00%, due 3/15/33 | 2,200,000 | 2,615,365 |
Evergy, Inc. | ||
5.292%, due 6/15/22 (c) | 1,130,000 | 1,163,539 |
Principal Amount | Value | |
Corporate Bonds | ||
Electric | ||
Jersey Central Power & Light Co. | ||
2.75%, due 3/1/32 (a) | $ 1,655,000 | $ 1,732,054 |
Public Service Electric and Gas Co. | ||
3.00%, due 5/15/27 | 2,235,000 | 2,441,403 |
Puget Energy, Inc. | ||
5.625%, due 7/15/22 | 815,000 | 844,275 |
Southern California Edison Co. | ||
Series E | ||
3.70%, due 8/1/25 | 870,000 | 951,933 |
4.00%, due 4/1/47 | 1,320,000 | 1,397,233 |
WEC Energy Group, Inc. | ||
2.268% (3 Month LIBOR + 2.112%), due 5/15/67 (b) | 1,095,000 | 1,027,920 |
16,072,275 | ||
Environmental Control 0.2% | ||
Republic Services, Inc. | ||
4.75%, due 5/15/23 | 881,000 | 940,032 |
Stericycle, Inc. | ||
3.875%, due 1/15/29 (a) | 280,000 | 283,850 |
Waste Management, Inc. | ||
2.40%, due 5/15/23 | 2,275,000 | 2,350,457 |
3,574,339 | ||
Food 1.4% | ||
JBS USA Food Co. | ||
7.00%, due 1/15/26 (a) | 585,000 | 619,369 |
Kraft Heinz Foods Co. | ||
4.25%, due 3/1/31 | 2,888,000 | 3,332,674 |
5.00%, due 7/15/35 | 1,199,000 | 1,482,668 |
Nestle Holdings, Inc. | ||
1.00%, due 9/15/27 (a) | 3,750,000 | 3,694,415 |
3.10%, due 9/24/21 (a) | 2,975,000 | 2,980,806 |
Performance Food Group, Inc. | ||
4.25%, due 8/1/29 (a) | 785,000 | 797,756 |
5.50%, due 10/15/27 (a) | 2,681,000 | 2,792,726 |
Smithfield Foods, Inc. | ||
3.35%, due 2/1/22 (a) | 1,575,000 | 1,591,074 |
4.25%, due 2/1/27 (a) | 1,180,000 | 1,295,121 |
Sysco Corp. | ||
3.30%, due 2/15/50 | 1,130,000 | 1,165,895 |
5.95%, due 4/1/30 | 770,000 | 998,366 |
Tyson Foods, Inc. | ||
3.95%, due 8/15/24 | 2,255,000 | 2,453,953 |
23,204,823 | ||
Gas 0.1% | ||
National Fuel Gas Co. | ||
2.95%, due 3/1/31 | 1,050,000 | 1,080,569 |
Principal Amount | Value | |
Corporate Bonds | ||
Gas | ||
Southern California Gas Co. | ||
Series VV | ||
4.30%, due 1/15/49 | $ 845,000 | $ 1,075,764 |
2,156,333 | ||
Healthcare-Services 0.3% | ||
Health Care Service Corp. A Mutual Legal Reserve Co. | ||
2.20%, due 6/1/30 (a) | 3,800,000 | 3,879,792 |
NYU Langone Hospitals | ||
Series 2020 | ||
3.38%, due 7/1/55 | 1,490,000 | 1,628,766 |
5,508,558 | ||
Home Builders 0.1% | ||
Lennar Corp. | ||
5.875%, due 11/15/24 | 1,345,000 | 1,524,510 |
Insurance 1.5% | ||
Athene Global Funding | ||
2.50%, due 3/24/28 (a) | 2,405,000 | 2,501,709 |
Equitable Holdings, Inc. | ||
5.00%, due 4/20/48 | 2,305,000 | 2,992,681 |
Liberty Mutual Group, Inc. | ||
4.25%, due 6/15/23 (a) | 850,000 | 906,464 |
MassMutual Global Funding II | ||
2.50%, due 10/17/22 (a) | 3,347,000 | 3,437,271 |
2.95%, due 1/11/25 (a) | 1,105,000 | 1,185,542 |
Peachtree Corners Funding Trust | ||
3.976%, due 2/15/25 (a) | 940,000 | 1,033,362 |
Principal Life Global Funding II | ||
2.375%, due 11/21/21 (a) | 4,070,000 | 4,096,566 |
Protective Life Corp. | ||
8.45%, due 10/15/39 | 1,640,000 | 2,689,835 |
Reliance Standard Life Global Funding II | ||
2.50%, due 10/30/24 (a) | 2,420,000 | 2,530,514 |
Voya Financial, Inc. | ||
3.65%, due 6/15/26 | 690,000 | 768,390 |
Willis North America, Inc. | ||
2.95%, due 9/15/29 | 1,735,000 | 1,838,601 |
3.875%, due 9/15/49 | 440,000 | 501,258 |
24,482,193 | ||
Internet 0.4% | ||
Cablevision Lightpath LLC | ||
3.875%, due 9/15/27 (a) | 2,035,000 | 2,019,738 |
Expedia Group, Inc. | ||
3.25%, due 2/15/30 | 3,165,000 | 3,321,981 |
3.60%, due 12/15/23 | 1,135,000 | 1,205,824 |
Principal Amount | Value | |
Corporate Bonds | ||
Internet | ||
Expedia Group, Inc. | ||
3.80%, due 2/15/28 | $ 440,000 | $ 482,291 |
5.00%, due 2/15/26 | 60,000 | 68,364 |
6.25%, due 5/1/25 (a) | 207,000 | 241,425 |
7,339,623 | ||
Iron & Steel 0.3% | ||
Vale Overseas Ltd. (Brazil) | ||
6.25%, due 8/10/26 | 2,585,000 | 3,103,034 |
6.875%, due 11/21/36 | 864,000 | 1,205,349 |
4,308,383 | ||
Lodging 0.6% | ||
Hilton Domestic Operating Co., Inc. | ||
4.875%, due 1/15/30 | 1,715,000 | 1,839,492 |
5.75%, due 5/1/28 (a) | 740,000 | 795,500 |
Las Vegas Sands Corp. | ||
3.20%, due 8/8/24 | 1,415,000 | 1,477,526 |
Marriott International, Inc. | ||
2.30%, due 1/15/22 | 2,450,000 | 2,465,431 |
Series X | ||
4.00%, due 4/15/28 | 1,625,000 | 1,797,612 |
Sands China Ltd. (Macao) | ||
4.60%, due 8/8/23 | 810,000 | 857,968 |
5.125%, due 8/8/25 | 1,310,000 | 1,465,274 |
10,698,803 | ||
Machinery-Diversified 0.1% | ||
CNH Industrial Capital LLC | ||
4.20%, due 1/15/24 | 1,435,000 | 1,552,063 |
Media 0.6% | ||
Comcast Corp. | ||
3.25%, due 11/1/39 | 1,665,000 | 1,818,113 |
4.70%, due 10/15/48 | 1,410,000 | 1,849,730 |
Grupo Televisa SAB | ||
5.25%, due 5/24/49 (Mexico) | 1,230,000 | 1,605,022 |
Sirius XM Radio, Inc. | ||
4.125%, due 7/1/30 (a) | 2,200,000 | 2,269,696 |
Sky Ltd. | ||
3.75%, due 9/16/24 (United Kingdom) (a) | 950,000 | 1,038,857 |
Time Warner Entertainment Co. LP | ||
8.375%, due 3/15/23 | 800,000 | 899,440 |
9,480,858 | ||
Metal Fabricate & Hardware 0.3% | ||
Precision Castparts Corp. | ||
3.25%, due 6/15/25 | 4,040,000 | 4,408,513 |
Principal Amount | Value | |
Corporate Bonds | ||
Mining 0.2% | ||
Glencore Funding LLC | ||
1.625%, due 9/1/25 (Australia) (a) | $ 2,805,000 | $ 2,848,817 |
Miscellaneous—Manufacturing 0.2% | ||
Textron Financial Corp. | ||
1.891% (3 Month LIBOR + 1.735%), due 2/15/42 (a)(b) | 3,540,000 | 2,999,737 |
Oil & Gas 0.8% | ||
BP Capital Markets plc | ||
4.875% (5 Year Treasury Constant Maturity Rate + 4.398%), due 3/22/30 (United Kingdom) (b)(e) | 475,000 | 524,424 |
Gazprom PJSC Via Gaz Capital SA | ||
7.288%, due 8/16/37 (Russia) (a) | 2,065,000 | 2,879,643 |
Marathon Petroleum Corp. | ||
4.50%, due 5/1/23 | 1,455,000 | 1,547,758 |
4.70%, due 5/1/25 | 1,585,000 | 1,785,511 |
5.125%, due 12/15/26 | 1,260,000 | 1,484,771 |
Petrobras Global Finance BV | ||
5.50%, due 6/10/51 (Brazil) | 1,310,000 | 1,288,713 |
Valero Energy Corp. | ||
4.00%, due 4/1/29 | 1,435,000 | 1,608,423 |
6.625%, due 6/15/37 | 1,050,000 | 1,456,813 |
12,576,056 | ||
Packaging & Containers 0.2% | ||
Berry Global, Inc. | ||
4.875%, due 7/15/26 (a) | 200,000 | 210,620 |
Owens-Brockway Glass Container, Inc. | ||
6.625%, due 5/13/27 (a) | 2,640,000 | 2,851,200 |
3,061,820 | ||
Pharmaceuticals 0.9% | ||
AbbVie, Inc. | ||
3.45%, due 3/15/22 | 2,715,000 | 2,753,260 |
4.05%, due 11/21/39 | 2,780,000 | 3,277,517 |
Becton Dickinson and Co. | ||
4.669%, due 6/6/47 | 1,635,000 | 2,077,902 |
CVS Health Corp. | ||
2.70%, due 8/21/40 | 2,930,000 | 2,919,404 |
4.78%, due 3/25/38 | 1,110,000 | 1,393,433 |
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, due 10/1/26 (Israel) | 2,995,000 | 2,874,002 |
15,295,518 | ||
Pipelines 0.9% | ||
Energy Transfer LP | ||
4.95%, due 6/15/28 | 440,000 | 513,442 |
5.35%, due 5/15/45 | 1,000,000 | 1,185,553 |
Principal Amount | Value | |
Corporate Bonds | ||
Pipelines | ||
Enterprise Products Operating LLC | ||
3.125%, due 7/31/29 | $ 1,595,000 | $ 1,738,086 |
3.95%, due 1/31/60 | 1,460,000 | 1,645,216 |
4.20%, due 1/31/50 | 405,000 | 476,551 |
Flex Intermediate Holdco LLC | ||
3.363%, due 6/30/31 (a) | 2,030,000 | 2,088,127 |
MPLX LP | ||
2.65%, due 8/15/30 | 1,705,000 | 1,750,402 |
4.875%, due 6/1/25 | 100,000 | 113,265 |
Spectra Energy Partners LP | ||
4.75%, due 3/15/24 | 1,740,000 | 1,906,837 |
Transcontinental Gas Pipe Line Co. LLC | ||
4.60%, due 3/15/48 | 2,340,000 | 2,870,138 |
Western Midstream Operating LP | ||
6.50%, due 2/1/50 (c) | 860,000 | 1,011,575 |
15,299,192 | ||
Real Estate 0.1% | ||
Realogy Group LLC | ||
5.75%, due 1/15/29 (a) | 1,305,000 | 1,368,619 |
Real Estate Investment Trusts 1.1% | ||
Alexandria Real Estate Equities, Inc. | ||
3.375%, due 8/15/31 | 1,290,000 | 1,442,711 |
American Tower Corp. | ||
3.375%, due 10/15/26 | 1,920,000 | 2,099,343 |
3.60%, due 1/15/28 | 1,025,000 | 1,137,662 |
Digital Realty Trust LP | ||
3.70%, due 8/15/27 | 500,000 | 563,271 |
4.45%, due 7/15/28 | 2,985,000 | 3,504,211 |
Equinix, Inc. | ||
1.25%, due 7/15/25 | 1,645,000 | 1,656,165 |
2.625%, due 11/18/24 | 1,820,000 | 1,918,365 |
GLP Capital LP | ||
3.35%, due 9/1/24 | 1,280,000 | 1,353,634 |
Iron Mountain, Inc. | ||
5.25%, due 7/15/30 (a) | 1,690,000 | 1,800,906 |
Kilroy Realty LP | ||
3.45%, due 12/15/24 | 2,060,000 | 2,211,627 |
17,687,895 | ||
Retail 1.3% | ||
7-Eleven, Inc. | ||
2.50%, due 2/10/41 (a) | 300,000 | 284,312 |
2.80%, due 2/10/51 (a) | 1,080,000 | 1,037,568 |
AutoNation, Inc. | ||
4.75%, due 6/1/30 | 2,430,000 | 2,905,893 |
Principal Amount | Value | |
Corporate Bonds | ||
Retail | ||
Macy's Retail Holdings LLC | ||
5.875%, due 4/1/29 (a)(f) | $ 1,500,000 | $ 1,582,275 |
Macy's, Inc. | ||
8.375%, due 6/15/25 (a) | 2,740,000 | 2,986,600 |
McDonald's Corp. | ||
3.35%, due 4/1/23 | 2,875,000 | 3,010,233 |
Nordstrom, Inc. | ||
4.00%, due 3/15/27 (f) | 1,520,000 | 1,599,665 |
4.25%, due 8/1/31 (f) | 1,260,000 | 1,325,475 |
QVC, Inc. | ||
4.375%, due 9/1/28 | 2,245,000 | 2,305,301 |
Starbucks Corp. | ||
3.35%, due 3/12/50 | 925,000 | 1,000,301 |
4.45%, due 8/15/49 | 1,305,000 | 1,661,214 |
Victoria's Secret & Co. | ||
4.625%, due 7/15/29 (a) | 1,830,000 | 1,832,489 |
21,531,326 | ||
Semiconductors 0.1% | ||
Broadcom, Inc. | ||
3.50%, due 2/15/41 (a) | 760,000 | 788,831 |
NXP BV | ||
3.40%, due 5/1/30 (China) (a) | 1,255,000 | 1,388,390 |
2,177,221 | ||
Software 0.3% | ||
Fiserv, Inc. | ||
3.20%, due 7/1/26 | 525,000 | 570,916 |
Oracle Corp. | ||
3.65%, due 3/25/41 | 575,000 | 623,818 |
salesforce.com, Inc. | ||
3.25%, due 4/11/23 | 1,300,000 | 1,361,957 |
3.70%, due 4/11/28 | 1,915,000 | 2,191,586 |
4,748,277 | ||
Telecommunications 1.7% | ||
Altice France SA | ||
5.125%, due 7/15/29 (France) (a) | 2,100,000 | 2,115,561 |
AT&T, Inc. | ||
3.50%, due 9/15/53 (a) | 2,184,000 | 2,257,589 |
4.35%, due 3/1/29 | 795,000 | 925,066 |
CommScope Technologies LLC | ||
6.00%, due 6/15/25 (a) | 736,000 | 747,040 |
CommScope, Inc. | ||
7.125%, due 7/1/28 (a) | 1,755,000 | 1,893,206 |
Level 3 Financing, Inc. | ||
3.40%, due 3/1/27 (a) | 2,545,000 | 2,695,079 |
Sprint Spectrum Co. LLC | ||
4.738%, due 3/20/25 (a) | 3,909,375 | 4,181,350 |
Principal Amount | Value | |
Corporate Bonds | ||
Telecommunications | ||
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | $ 2,335,000 | $ 2,335,479 |
3.50%, due 4/15/31 (a) | 1,180,000 | 1,237,592 |
VEON Holdings BV | ||
4.95%, due 6/16/24 (Netherlands) (a) | 2,430,000 | 2,615,433 |
Verizon Communications, Inc. | ||
1.256% (3 Month LIBOR + 1.10%), due 5/15/25 (b) | 2,705,000 | 2,783,228 |
3.40%, due 3/22/41 | 770,000 | 832,001 |
3.55%, due 3/22/51 | 855,000 | 930,255 |
Vodafone Group plc | ||
4.25%, due 9/17/50 (United Kingdom) | 2,830,000 | 3,345,177 |
28,894,056 | ||
Toys, Games & Hobbies 0.1% | ||
Hasbro, Inc. | ||
2.60%, due 11/19/22 | 1,230,000 | 1,262,571 |
Total Corporate Bonds (Cost $450,435,750) | 481,114,270 | |
Foreign Government Bonds 1.3% | ||
Brazil 0.4% | ||
Brazil Government Bond | ||
3.75%, due 9/12/31 | 2,295,000 | 2,266,312 |
Federative Republic of Brazil | ||
4.625%, due 1/13/28 | 3,783,000 | 4,104,555 |
6,370,867 | ||
Chile 0.3% | ||
Chile Government Bond | ||
2.55%, due 7/27/33 | 2,580,000 | 2,631,007 |
Corp. Nacional del Cobre de Chile | ||
3.00%, due 9/30/29 (a) | 2,825,000 | 2,935,128 |
5,566,135 | ||
Colombia 0.1% | ||
Colombia Government Bond | ||
3.25%, due 4/22/32 | 1,780,000 | 1,740,324 |
Mexico 0.5% | ||
Comision Federal de Electricidad | ||
3.875%, due 7/26/33 (a) | 1,415,000 | 1,407,925 |
Mexico Government Bond | ||
2.659%, due 5/24/31 | 4,502,000 | 4,427,807 |
3.75%, due 4/19/71 | 1,860,000 | 1,715,385 |
7,551,117 | ||
Total Foreign Government Bonds (Cost $21,319,931) | 21,228,443 |
Principal Amount | Value | |
Loan Assignments 0.6% | ||
Containers, Packaging & Glass 0.2% | ||
Mauser Packaging Solutions Holding Co. | ||
Initial Term Loan | ||
3.342% (1 Month LIBOR + 3.25%), due 4/3/24 (b) | $ 3,108,337 | $ 3,005,097 |
Diversified/Conglomerate Service 0.1% | ||
TruGreen LP | ||
First Lien Second Refinancing Term Loan | ||
4.75% (1 Month LIBOR + 4.00%), due 11/2/27 (b) | 1,338,275 | 1,341,063 |
Second Lien Initial Term Loan | ||
9.25% (3 Month LIBOR + 8.50%), due 11/2/28 (b) | 580,000 | 591,600 |
1,932,663 | ||
Finance 0.2% | ||
Alliant Holdings Intermediate LLC | ||
2018 Initial Term Loan | ||
3.342% (1 Month LIBOR + 3.25%), due 5/9/25 (b) | 3,099,089 | 3,058,091 |
Telecommunications 0.1% | ||
Level 3 Financing, Inc. | ||
Tranche 2027 Term Loan B | ||
1.842% (1 Month LIBOR + 1.75%), due 3/1/27 (b) | 2,142,032 | 2,094,219 |
Total Loan Assignments (Cost $10,183,487) | 10,090,070 | |
Mortgage-Backed Securities 7.8% | ||
Agency (Collateralized Mortgage Obligations) 2.8% | ||
FHLMC | ||
REMIC, Series 5073, Class DG | ||
1.50%, due 8/25/38 | 2,050,000 | 2,070,809 |
REMIC, Series 4993, Class D | ||
2.00%, due 9/25/47 | 2,150,000 | 2,226,138 |
REMIC, Series 5049, Class UI | ||
3.00%, due 12/25/50 | 5,127,675 | 873,854 |
REMIC, Series 4888, Class BA | ||
3.50%, due 9/15/48 | 690,225 | 718,958 |
REMIC, Series 4877, Class AT | ||
3.50%, due 11/15/48 | 1,306,068 | 1,382,437 |
REMIC, Series 4877, Class BE | ||
3.50%, due 11/15/48 | 1,593,199 | 1,668,724 |
FNMA | ||
REMIC, Series 2021-33, Class AI | ||
2.50%, due 5/25/47 | 6,517,970 | 827,290 |
REMIC, Series 2021-34, Class MI | ||
2.50%, due 3/25/51 | 4,270,796 | 593,500 |
REMIC, Series 2013-77, Class CY | ||
3.00%, due 7/25/43 | 1,902,000 | 1,974,468 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Agency (Collateralized Mortgage Obligations) | ||
FNMA | ||
REMIC, Series 2021-53, Class GI | ||
3.00%, due 7/25/48 | $ 5,740,000 | $ 904,561 |
REMIC, Series 2019-13, Class PE | ||
3.00%, due 3/25/49 | 1,312,776 | 1,395,674 |
REMIC, Series 2019-13, Class CA | ||
3.50%, due 4/25/49 | 2,175,863 | 2,384,757 |
REMIC, Series 2021-12, Class GC | ||
3.50%, due 7/25/50 | 2,481,428 | 2,698,216 |
REMIC, Series 2020-10, Class DA | ||
3.50%, due 3/25/60 | 2,346,410 | 2,547,545 |
GNMA | ||
REMIC, Series 2021-78, Class LA | ||
1.00%, due 5/20/51 | 1,966,640 | 1,956,368 |
REMIC, Series 2021-87, Class EG | ||
1.00%, due 5/20/51 | 1,955,120 | 1,953,835 |
REMIC, Series 2021-87, Class EK | ||
1.00%, due 5/20/51 | 6,300,374 | 6,296,234 |
REMIC, Series 2021-91, Class MF | ||
1.00%, due 5/20/51 | 1,950,397 | 1,951,153 |
REMIC, Series 2021-105, Class DB | ||
1.00%, due 6/20/51 | 2,202,203 | 2,136,193 |
REMIC, Series 2021-15, Class AI | ||
2.00%, due 1/20/51 | 5,417,131 | 593,715 |
REMIC, Series 2020-188, Class DI | ||
2.50%, due 12/20/50 | 7,282,777 | 1,007,364 |
REMIC, Series 2021-25, Class LI | ||
2.50%, due 2/20/51 | 6,654,199 | 776,960 |
REMIC, Series 2021-30, Class WI | ||
2.50%, due 2/20/51 | 7,529,291 | 1,036,027 |
REMIC, Series 2021-44, Class IQ | ||
3.00%, due 3/20/51 | 7,004,260 | 919,367 |
REMIC, Series 2021-74, Class HI | ||
3.00%, due 4/20/51 | 6,678,932 | 924,456 |
REMIC, Series 2021-98, Class KI | ||
3.00%, due 6/20/51 | 4,526,697 | 524,124 |
REMIC, Series 2013-149, Class BA | ||
3.25%, due 8/16/41 | 4,567,900 | 4,815,312 |
47,158,039 | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) 2.4% | ||
Arbor Multifamily Mortgage Securities Trust | ||
Series 2021-MF2, Class AS | ||
2.70%, due 6/15/54 (a)(g) | 1,770,000 | 1,856,802 |
Bayview Commercial Asset Trust | ||
Series 2006-4A, Class A1 | ||
0.434% (1 Month LIBOR + 0.345%), due 12/25/36 (a)(b) | 55,253 | 53,204 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
Benchmark Mortgage Trust | ||
Series 2020-B19, Class A2 | ||
1.691%, due 9/15/53 | $ 2,175,000 | $ 2,221,086 |
BX Commercial Mortgage Trust | ||
Series 2020-VIV2, Class C | ||
3.542%, due 3/9/44 (a)(h) | 2,015,000 | 2,160,335 |
Series 2020-VIV3, Class B | ||
3.544%, due 3/9/44 (a)(h) | 1,622,236 | 1,781,053 |
BX Trust | ||
Series 2021-LBA, Class AV | ||
0.894% (1 Month LIBOR + 0.80%), due 2/15/36 (a)(b) | 1,910,000 | 1,913,050 |
Series 2019-OC11, Class A | ||
3.202%, due 12/9/41 (a) | 1,255,000 | 1,373,980 |
Series 2019-OC11, Class B | ||
3.605%, due 12/9/41 (a) | 280,000 | 311,133 |
Series 2019-OC11, Class C | ||
3.856%, due 12/9/41 (a) | 570,000 | 629,239 |
CSAIL Commercial Mortgage Trust | ||
Series 2015-C3, Class A4 | ||
3.718%, due 8/15/48 | 2,050,254 | 2,244,944 |
Extended Stay America Trust | ||
Series 2021-ESH, Class C | ||
1.794% (1 Month LIBOR + 1.70%), due 7/15/38 (a)(b) | 2,315,000 | 2,326,604 |
FREMF Mortgage Trust | ||
REMIC, Series 2019-K98, Class C | ||
3.737%, due 10/25/52 (a)(h) | 780,000 | 848,887 |
REMIC, Series 2018-K86, Class C | ||
4.293%, due 11/25/51 (a)(h) | 700,000 | 783,169 |
GB Trust | ||
Series 2020-FLIX, Class C | ||
1.693% (1 Month LIBOR + 1.60%), due 8/15/37 (a)(b) | 1,300,000 | 1,300,778 |
Series 2020-FLIX, Class D | ||
2.443% (1 Month LIBOR + 2.35%), due 8/15/37 (a)(b) | 1,795,000 | 1,801,274 |
Hudson Yards Mortgage Trust | ||
Series 2019-30HY, Class A | ||
3.228%, due 7/10/39 (a) | 1,615,000 | 1,780,473 |
Manhattan West Mortgage Trust | ||
Series 2020-1MW, Class A | ||
2.13%, due 9/10/39 (a) | 2,910,000 | 3,015,139 |
Morgan Stanley Bank of America Merrill Lynch Trust | ||
Series 2015-C23, Class A3 | ||
3.451%, due 7/15/50 | 1,162,420 | 1,257,442 |
Morgan Stanley Capital I Trust | ||
Series 2015-UBS8, Class A4 | ||
3.809%, due 12/15/48 | 1,830,000 | 2,019,203 |
One Bryant Park Trust | ||
Series 2019-OBP, Class A | ||
2.516%, due 9/15/54 (a) | 3,400,000 | 3,574,036 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
Wells Fargo Commercial Mortgage Trust | ||
Series 2018-1745, Class A | ||
3.749%, due 6/15/36 (a)(h) | $ 2,640,000 | $ 2,965,063 |
Series 2018-AUS, Class A | ||
4.058%, due 8/17/36 (a)(h) | 3,120,000 | 3,560,527 |
39,777,421 | ||
Whole Loan (Collateralized Mortgage Obligations) 2.6% | ||
FHLMC STACR REMIC Trust | ||
Series 2020-DNA6, Class M2 | ||
2.05% (SOFR 30A + 2.00%), due 12/25/50 (a)(b) | 2,825,000 | 2,855,332 |
FHLMC STACR Trust | ||
Series 2018-DNA2, Class M2 | ||
2.239% (1 Month LIBOR + 2.15%), due 12/25/30 (a)(b) | 2,200,000 | 2,223,976 |
FHLMC Structured Agency Credit Risk Debt Notes | ||
Series 2017-DNA1, Class M2 | ||
3.339% (1 Month LIBOR + 3.25%), due 7/25/29 (b) | 3,232,753 | 3,319,404 |
Series 2017-HQA1, Class M2 | ||
3.639% (1 Month LIBOR + 3.55%), due 8/25/29 (b) | 3,541,092 | 3,657,673 |
Series 2015-DNA3, Class M3 | ||
4.789% (1 Month LIBOR + 4.70%), due 4/25/28 (b) | 2,230,042 | 2,305,630 |
Series 2016-DNA1, Class M3 | ||
5.639% (1 Month LIBOR + 5.55%), due 7/25/28 (b) | 1,401,585 | 1,466,725 |
Flagstar Mortgage Trust | ||
Series 2021-2, Class A2 | ||
2.50%, due 4/25/51 (a)(g) | 1,802,227 | 1,844,844 |
FNMA | ||
Series 2017-C01, Class 1M2 | ||
3.639% (1 Month LIBOR + 3.55%), due 7/25/29 (b) | 2,354,763 | 2,437,855 |
Series 2017-C02, Class 2M2 | ||
3.739% (1 Month LIBOR + 3.65%), due 9/25/29 (b) | 1,090,969 | 1,126,557 |
GS Mortgage-Backed Securities Corp. Trust | ||
Series 2021-PJ5, Class A8 | ||
2.50%, due 10/25/51 (a)(g) | 1,434,563 | 1,473,957 |
Series 2021-PJ7, Class A2 | ||
2.50%, due 1/25/52 (a)(g) | 5,000,000 | 5,092,331 |
JPMorgan Mortgage Trust | ||
Series 2021-6, Class A4 | ||
2.50%, due 10/25/51 (a)(g) | 1,906,525 | 1,961,168 |
Series 2021-7, Class A3 | ||
2.50%, due 11/25/51 (a)(g) | 857,038 | 877,883 |
Series 2021-7, Class A4 | ||
2.50%, due 11/25/51 (a)(g) | 2,063,183 | 2,118,008 |
Mello Mortgage Capital Acceptance | ||
Series 2021-MTG2, Class A1 | ||
2.50%, due 6/25/51 (a)(g) | 2,443,317 | 2,493,026 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Whole Loan (Collateralized Mortgage Obligations) | ||
New Residential Mortgage Loan Trust | ||
Series 2019-5A, Class B7 | ||
4.455%, due 8/25/59 (a)(h) | $ 3,102,105 | $ 2,267,958 |
Series 2019-2A, Class B6 | ||
4.959%, due 12/25/57 (a)(g) | 957,777 | 740,767 |
NewRez Warehouse Securitization Trust | ||
Series 2021-1, Class A | ||
0.839% (1 Month LIBOR + 0.75%), due 5/25/55 (a)(b) | 2,600,000 | 2,598,145 |
OBX Trust | ||
Series 2021-J1, Class A1 | ||
2.50%, due 5/25/51 (a)(g) | 901,602 | 922,561 |
Seasoned Loans Structured Transaction | ||
Series 2019-1, Class A1 | ||
3.50%, due 5/25/29 | 805,988 | 858,328 |
42,642,128 | ||
Total Mortgage-Backed Securities (Cost $127,674,897) | 129,577,588 | |
Municipal Bond 0.2% | ||
California 0.2% | ||
Regents of the University of California Medical Center, Pooled, Revenue Bonds | ||
Series N | ||
3.006%, due 5/15/50 | 2,700,000 | 2,836,687 |
Total Municipal Bond (Cost $2,700,000) | 2,836,687 | |
U.S. Government & Federal Agencies 5.7% | ||
Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.4% | ||
UMBS, 30 Year | ||
2.00%, due 8/1/50 | 2,414,904 | 2,464,217 |
2.00%, due 8/1/50 | 3,037,253 | 3,099,276 |
3.50%, due 7/1/50 | 1,613,331 | 1,710,224 |
7,273,717 | ||
Federal National Mortgage Association (Mortgage Pass-Through Securities) 0.9% | ||
FNMA, Other | ||
3.50%, due 2/1/42 | 2,092,279 | 2,268,160 |
UMBS, 20 Year | ||
2.50%, due 5/1/41 | 827,671 | 866,212 |
UMBS, 30 Year | ||
2.00%, due 10/1/50 | 401,970 | 412,042 |
2.00%, due 12/1/50 | 649,568 | 662,832 |
2.50%, due 8/1/50 | 235,653 | 246,408 |
2.50%, due 10/1/50 | 230,355 | 240,191 |
2.50%, due 11/1/50 | 1,172,023 | 1,241,602 |
2.50%, due 1/1/51 | 760,577 | 801,037 |
Principal Amount | Value | |
U.S. Government & Federal Agencies | ||
Federal National Mortgage Association (Mortgage Pass-Through Securities) | ||
UMBS, 30 Year | ||
2.50%, due 1/1/51 | $ 1,157,200 | $ 1,212,543 |
3.00%, due 3/1/50 | 1,551,526 | 1,651,876 |
3.00%, due 6/1/51 | 1,012,720 | 1,064,567 |
4.00%, due 8/1/48 | 2,913,660 | 3,118,111 |
4.00%, due 2/1/49 | 544,417 | 586,662 |
14,372,243 | ||
Government National Mortgage Association (Mortgage Pass-Through Securities) 0.0% ‡ | ||
GNMA I, 30 Year | ||
6.50%, due 4/15/29 | 9 | 11 |
6.50%, due 8/15/29 | 6 | 7 |
18 | ||
United States Treasury Bonds 1.3% | ||
U.S. Treasury Bonds | ||
1.875%, due 2/15/51 | 140,000 | 139,016 |
2.25%, due 5/15/41 | 905,000 | 972,168 |
2.375%, due 5/15/51 | 5,075,000 | 5,630,078 |
4.375%, due 11/15/39 | 6,581,000 | 9,404,660 |
4.375%, due 5/15/40 | 4,235,000 | 6,075,736 |
22,221,658 | ||
United States Treasury Inflation - Indexed Notes 1.1% | ||
U.S. Treasury Inflation Linked Notes | ||
0.125%, due 1/15/30 (i) | 5,869,743 | 6,631,663 |
0.125%, due 7/15/30 (i) | 5,848,166 | 6,643,151 |
0.875%, due 1/15/29 (i) | 4,301,754 | 5,110,405 |
18,385,219 | ||
United States Treasury Notes 2.0% | ||
U.S. Treasury Notes | ||
0.125%, due 7/31/23 | 12,620,000 | 12,603,732 |
0.375%, due 7/15/24 | 9,085,000 | 9,093,517 |
0.625%, due 7/31/26 | 12,035,000 | 11,992,690 |
33,689,939 | ||
Total U.S. Government & Federal Agencies (Cost $91,933,407) | 95,942,794 | |
Total Long-Term Bonds (Cost $770,208,218) | 808,536,722 | |
Shares | ||
Common Stocks 45.1% | ||
Aerospace & Defense 1.2% | ||
BAE Systems plc (United Kingdom) | 931,297 | 7,456,337 |
Lockheed Martin Corp. | 16,193 | 6,018,452 |
Shares | Value | |
Common Stocks | ||
Aerospace & Defense | ||
Raytheon Technologies Corp. | 73,160 | $ 6,361,262 |
19,836,051 | ||
Air Freight & Logistics 1.0% | ||
Deutsche Post AG (Registered) (Germany) | 135,769 | 9,197,907 |
United Parcel Service, Inc., Class B | 37,816 | 7,236,470 |
16,434,377 | ||
Automobiles 0.3% | ||
Toyota Motor Corp. (Japan) | 50,800 | 4,540,304 |
Banks 1.8% | ||
JPMorgan Chase & Co. | 62,983 | 9,559,560 |
PNC Financial Services Group, Inc. (The) | 28,791 | 5,251,766 |
Royal Bank of Canada (Canada) | 87,127 | 8,811,867 |
Truist Financial Corp. | 124,002 | 6,749,429 |
30,372,622 | ||
Beverages 0.9% | ||
Coca-Cola Co. (The) | 104,151 | 5,939,731 |
Coca-Cola Europacific Partners plc (United Kingdom) | 67,936 | 4,216,108 |
PepsiCo, Inc. | 30,747 | 4,825,742 |
14,981,581 | ||
Biotechnology 1.0% | ||
AbbVie, Inc. | 103,356 | 12,020,303 |
Amgen, Inc. | 21,809 | 5,267,746 |
17,288,049 | ||
Capital Markets 1.6% | ||
BlackRock, Inc. | 13,291 | 11,525,556 |
Lazard Ltd., Class A | 150,188 | 7,088,874 |
Singapore Exchange Ltd. (Singapore) | 463,500 | 4,063,899 |
T. Rowe Price Group, Inc. | 22,915 | 4,678,326 |
27,356,655 | ||
Chemicals 2.2% | ||
BASF SE (Germany) | 81,771 | 6,423,396 |
Dow, Inc. | 99,950 | 6,212,892 |
Linde plc (United Kingdom) | 22,804 | 7,009,722 |
LyondellBasell Industries NV, Class A | 58,109 | 5,771,967 |
Nutrien Ltd. (Canada) | 191,417 | 11,370,170 |
36,788,147 | ||
Commercial Services & Supplies 0.0% ‡ | ||
Quad/Graphics, Inc. (j) | 10 | 35 |
Communications Equipment 0.7% | ||
Cisco Systems, Inc. | 218,765 | 12,113,018 |
Shares | Value | |
Common Stocks | ||
Diversified Telecommunication Services 2.4% | ||
AT&T, Inc. | 145,586 | $ 4,083,687 |
BCE, Inc. (Canada) | 78,043 | 3,895,269 |
Deutsche Telekom AG (Registered) (Germany) | 576,909 | 11,980,377 |
Orange SA (France) | 401,504 | 4,474,689 |
Telenor ASA (Norway) | 220,882 | 3,835,230 |
TELUS Corp. (Canada) | 238,014 | 5,286,444 |
Verizon Communications, Inc. | 118,003 | 6,582,208 |
40,137,904 | ||
Electric Utilities 2.0% | ||
American Electric Power Co., Inc. | 51,177 | 4,509,717 |
Duke Energy Corp. | 36,798 | 3,867,838 |
Entergy Corp. | 48,599 | 5,001,809 |
Evergy, Inc. | 81,799 | 5,334,931 |
Fortis, Inc. (Canada) | 83,196 | 3,773,028 |
NextEra Energy, Inc. | 101,269 | 7,888,855 |
Terna Rete Elettrica Nazionale SpA (Italy) | 471,354 | 3,748,499 |
34,124,677 | ||
Electrical Equipment 1.4% | ||
Eaton Corp. plc | 52,976 | 8,372,857 |
Emerson Electric Co. | 144,450 | 14,573,560 |
22,946,417 | ||
Equity Real Estate Investment Trusts 1.2% | ||
American Tower Corp. | 15,802 | 4,468,806 |
Iron Mountain, Inc. | 134,202 | 5,872,679 |
Welltower, Inc. | 51,760 | 4,495,874 |
WP Carey, Inc. | 56,635 | 4,569,878 |
19,407,237 | ||
Food Products 0.7% | ||
Danone SA (France) | 52,222 | 3,844,514 |
Nestle SA (Registered) (Switzerland) | 38,754 | 4,911,364 |
Orkla ASA (Norway) | 378,919 | 3,444,036 |
12,199,914 | ||
Gas Utilities 0.4% | ||
Snam SpA (Italy) | 1,133,933 | 6,865,533 |
Health Care Equipment & Supplies 0.9% | ||
Medtronic plc | 110,218 | 14,472,726 |
Hotels, Restaurants & Leisure 1.9% | ||
Las Vegas Sands Corp. (j) | 180,208 | 7,631,809 |
McDonald's Corp. | 21,256 | 5,159,044 |
Restaurant Brands International, Inc. (Canada) | 188,609 | 12,861,247 |
Shares | Value | |
Common Stocks | ||
Hotels, Restaurants & Leisure | ||
Vail Resorts, Inc. | 18,476 | $ 5,638,875 |
31,290,975 | ||
Household Durables 0.3% | ||
Leggett & Platt, Inc. | 104,982 | 5,042,285 |
Household Products 0.5% | ||
Kimberly-Clark Corp. | 31,620 | 4,291,467 |
Procter & Gamble Co. (The) | 29,058 | 4,132,919 |
8,424,386 | ||
Industrial Conglomerates 0.3% | ||
Siemens AG (Registered) (Germany) | 35,595 | 5,555,909 |
Insurance 2.9% | ||
Allianz SE (Registered) (Germany) | 40,236 | 10,023,290 |
Assicurazioni Generali SpA (Italy) | 242,950 | 4,856,160 |
AXA SA (France) | 249,527 | 6,476,511 |
Great-West Lifeco, Inc. (Canada) | 123,296 | 3,709,949 |
MetLife, Inc. | 181,323 | 10,462,337 |
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Germany) | 32,020 | 8,656,491 |
Tokio Marine Holdings, Inc. (Japan) | 81,000 | 3,846,771 |
48,031,509 | ||
IT Services 0.5% | ||
International Business Machines Corp. | 58,085 | 8,187,662 |
Leisure Products 0.4% | ||
Hasbro, Inc. | 74,054 | 7,363,930 |
Machinery 0.5% | ||
Cummins, Inc. | 33,621 | 7,803,434 |
Media 0.2% | ||
Omnicom Group, Inc. | 53,525 | 3,897,690 |
Multiline Retail 0.3% | ||
Target Corp. | 16,675 | 4,353,009 |
Multi-Utilities 1.0% | ||
Ameren Corp. | 45,203 | 3,793,436 |
Dominion Energy, Inc. | 66,982 | 5,014,942 |
National Grid plc (United Kingdom) | 298,953 | 3,840,048 |
WEC Energy Group, Inc. | 40,943 | 3,854,374 |
16,502,800 |
Shares | Value | |
Common Stocks | ||
Oil, Gas & Consumable Fuels 2.0% | ||
Chevron Corp. | 61,919 | $ 6,303,973 |
Enterprise Products Partners LP | 349,384 | 7,885,597 |
Magellan Midstream Partners LP | 128,718 | 5,998,259 |
Phillips 66 | 48,452 | 3,557,830 |
TotalEnergies SE (France) | 202,938 | 8,834,982 |
32,580,641 | ||
Personal Products 0.5% | ||
Unilever plc (United Kingdom) | 136,573 | 7,880,112 |
Pharmaceuticals 3.7% | ||
AstraZeneca plc, Sponsored ADR (United Kingdom) | 205,716 | 11,775,184 |
Bayer AG (Registered) (Germany) | 55,195 | 3,292,741 |
GlaxoSmithKline plc (United Kingdom) | 193,928 | 3,821,821 |
Johnson & Johnson | 34,515 | 5,943,483 |
Merck & Co., Inc. | 95,173 | 7,315,949 |
Novartis AG (Registered) (Switzerland) | 58,361 | 5,404,118 |
Pfizer, Inc. | 102,334 | 4,380,919 |
Roche Holding AG (Switzerland) | 10,130 | 3,917,917 |
Sanofi (France) | 70,910 | 7,308,084 |
Takeda Pharmaceutical Co. Ltd. (Japan) | 235,800 | 7,914,093 |
61,074,309 | ||
Semiconductors & Semiconductor Equipment 4.1% | ||
Analog Devices, Inc. | 92,509 | 15,487,857 |
Broadcom, Inc. | 31,642 | 15,359,027 |
Intel Corp. | 191,390 | 10,281,471 |
KLA Corp. | 28,526 | 9,931,612 |
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Taiwan) | 77,887 | 9,084,739 |
Texas Instruments, Inc. | 46,806 | 8,922,160 |
69,066,866 | ||
Software 1.1% | ||
Microsoft Corp. | 64,626 | 18,412,594 |
Specialty Retail 0.7% | ||
Home Depot, Inc. (The) | 24,695 | 8,104,652 |
Industria de Diseno Textil SA (Spain) | 102,859 | 3,488,451 |
11,593,103 | ||
Technology Hardware, Storage & Peripherals 1.6% | ||
Apple, Inc. | 118,960 | 17,351,506 |
Samsung Electronics Co. Ltd. GDR (Republic of Korea) | 5,552 | 9,530,008 |
26,881,514 | ||
Textiles, Apparel & Luxury Goods 0.3% | ||
Hanesbrands, Inc. | 246,524 | 4,501,528 |
Shares | Value | ||
Common Stocks | |||
Tobacco 1.7% | |||
Altria Group, Inc. | 156,173 | $ 7,502,551 | |
British American Tobacco plc (United Kingdom) | 195,704 | 7,291,725 | |
British American Tobacco plc, Sponsored ADR (United Kingdom) | 63,382 | 2,373,656 | |
Philip Morris International, Inc. | 118,367 | 11,847,353 | |
29,015,285 | |||
Trading Companies & Distributors 0.7% | |||
MSC Industrial Direct Co., Inc., Class A | 90,477 | 8,067,834 | |
Watsco, Inc. | 14,466 | 4,085,777 | |
12,153,611 | |||
Wireless Telecommunication Services 0.2% | |||
Rogers Communications, Inc., Class B (Canada) | 71,874 | 3,668,593 | |
Total Common Stocks (Cost $599,596,532) | 753,146,992 | ||
Short-Term Investments 5.1% | |||
Affiliated Investment Company 4.8% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (k)(l) | 80,567,921 | 80,567,921 | |
Unaffiliated Investment Companies 0.3% | |||
BlackRock Liquidity FedFund, 0.025% (l)(m) | 3,000,000 | 3,000,000 | |
Wells Fargo Government Money Market Fund, 0.025% (l)(m) | 969,815 | 969,815 | |
Total Unaffiliated Investment Companies (Cost $3,969,815) | 3,969,815 | ||
Total Short-Term Investments (Cost $84,537,736) | 84,537,736 | ||
Total Investments (Cost $1,454,342,486) | 98.6% | 1,646,221,450 | |
Other Assets, Less Liabilities | 1.4 | 23,710,941 | |
Net Assets | 100.0% | $ 1,669,932,391 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(c) | Step coupon—Rate shown was the rate in effect as of July 31, 2021. |
(d) | Fixed to floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(f) | All or a portion of this security was held on loan. As of July 31, 2021, the aggregate market value of securities on loan was $3,827,482. The Fund received cash collateral with a value of $3,969,815. |
(g) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
(h) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of July 31, 2021. |
(i) | Treasury Inflation Protected Security—Pays a fixed rate of interest on a principal amount that is continuously adjusted for inflation based on the Consumer Price Index-Urban Consumers. |
(j) | Non-income producing security. |
(k) | As of July 31, 2021, the Fund’s ownership exceeds 5% of the outstanding shares of the Underlying Fund’s share class. |
(l) | Current yield as of July 31, 2021. |
(m) | Represents a security purchased with cash collateral received for securities on loan. |
Foreign Currency Forward Contracts
As of July 31, 2021, the Fund held the following foreign currency forward contracts1:
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
EUR | 41,207,000 | USD | 48,851,146 | JPMorgan Chase Bank N.A. | 11/1/21 | $ 119,253 |
GBP | 30,915,000 | USD | 42,941,244 | JPMorgan Chase Bank N.A. | 11/1/21 | 38,953 |
USD | 17,153,897 | AUD | 23,293,000 | JPMorgan Chase Bank N.A. | 8/3/21 | 60,329 |
USD | 46,359,185 | JPY | 5,081,523,000 | JPMorgan Chase Bank N.A. | 8/2/21 | 39,300 |
Total Unrealized Appreciation | 257,835 | |||||
AUD | 23,293,000 | USD | 18,110,750 | JPMorgan Chase Bank N.A. | 8/3/21 | (1,017,182) |
AUD | 23,293,000 | USD | 17,159,930 | JPMorgan Chase Bank N.A. | 11/1/21 | (59,374) |
EUR | 39,827,000 | USD | 48,192,263 | JPMorgan Chase Bank N.A. | 8/2/21 | (947,484) |
EUR | 1,380,000 | USD | 1,685,689 | JPMorgan Chase Bank N.A. | 8/2/21 | (48,664) |
GBP | 30,915,000 | USD | 43,025,642 | JPMorgan Chase Bank N.A. | 8/2/21 | (53,792) |
JPY | 5,081,523,000 | USD | 46,860,659 | JPMorgan Chase Bank N.A. | 8/2/21 | (540,774) |
JPY | 5,081,523,000 | USD | 46,400,797 | JPMorgan Chase Bank N.A. | 11/1/21 | (46,603) |
USD | 48,756,122 | EUR | 41,207,000 | JPMorgan Chase Bank N.A. | 8/2/21 | (125,681) |
USD | 42,925,478 | GBP | 30,915,000 | JPMorgan Chase Bank N.A. | 8/2/21 | (46,373) |
Total Unrealized Depreciation | (2,885,927) | |||||
Net Unrealized Depreciation | $ (2,628,092) |
1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
Futures Contracts
As of July 31, 2021, the Fund held the following futures contracts1:
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Long Contracts | |||||
U.S. Treasury 2 Year Notes | 373 | September 2021 | $ 82,317,247 | $ 82,304,781 | $ (12,466) |
U.S. Treasury 5 Year Notes | 319 | September 2021 | 39,471,833 | 39,698,055 | 226,222 |
U.S. Treasury 10 Year Notes | 152 | September 2021 | 20,055,844 | 20,436,875 | 381,031 |
E-Mini Financial Select Sector Index | 280 | September 2021 | 32,204,382 | 31,433,500 | (770,882) |
E-Mini S&P 500 Index Industrial Sector | 461 | September 2021 | 47,847,223 | 47,884,070 | 36,847 |
Euro STOXX 50 Index | 1,112 | September 2021 | 54,350,697 | 53,925,217 | (425,480) |
FTSE 100 Index | 172 | September 2021 | 16,940,131 | 16,655,508 | (284,623) |
S&P 500 E-Mini Index | 433 | September 2021 | 91,722,273 | 95,032,675 | 3,310,402 |
U.S. Treasury Long Bonds | 143 | September 2021 | 22,469,425 | 23,554,781 | 1,085,356 |
U.S. Treasury Ultra Bonds | 377 | September 2021 | 70,359,487 | 75,223,281 | 4,863,794 |
Yen Denominated Nikkei 225 Index | 465 | September 2021 | 61,755,443 | 58,175,334 | (3,580,109) |
Total Long Contracts | 4,830,092 |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 10 Year Ultra Bonds | (393) | September 2021 | $ (57,346,350) | $ (59,048,250) | $ (1,701,900) |
Net Unrealized Appreciation | $ 3,128,192 |
1. | As of July 31, 2021, cash in the amount of $20,470,645 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of July 31, 2021. |
Abbreviation(s): |
ADR—American Depositary Receipt |
AUD—Australia Dollar |
EUR—Euro |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
FREMF—Freddie Mac Multifamily |
FTSE—Financial Times Stock Exchange |
GBP—British Pound Sterling |
GDR—Global Depositary Receipt |
GNMA—Government National Mortgage Association |
JPY—Japanese Yen |
LIBOR—London Interbank Offered Rate |
REMIC—Real Estate Mortgage Investment Conduit |
SOFR—Secured Overnight Financing Rate |
UMBS—Uniform Mortgage Backed Securities |
USD—United States Dollar |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets and liabilities:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Asset-Backed Securities | $ — | $ 67,746,870 | $ — | $ 67,746,870 | |||
Corporate Bonds | — | 481,114,270 | — | 481,114,270 | |||
Foreign Government Bonds | — | 21,228,443 | — | 21,228,443 | |||
Loan Assignments | — | 10,090,070 | — | 10,090,070 | |||
Mortgage-Backed Securities | — | 129,577,588 | — | 129,577,588 | |||
Municipal Bond | — | 2,836,687 | — | 2,836,687 | |||
U.S. Government & Federal Agencies | — | 95,942,794 | — | 95,942,794 | |||
Total Long-Term Bonds | — | 808,536,722 | — | 808,536,722 | |||
Common Stocks | 753,146,992 | — | — | 753,146,992 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 80,567,921 | — | — | 80,567,921 | |||
Unaffiliated Investment Companies | 3,969,815 | — | — | 3,969,815 | |||
Total Short-Term Investments | 84,537,736 | — | — | 84,537,736 | |||
Total Investments in Securities | 837,684,728 | 808,536,722 | — | 1,646,221,450 | |||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | — | 257,835 | — | 257,835 | |||
Futures Contracts (b) | 9,903,652 | — | — | 9,903,652 | |||
Total Other Financial Instruments | 9,903,652 | 257,835 | — | 10,161,487 | |||
Total Investments in Securities and Other Financial Instruments | $ 847,588,380 | $ 808,794,557 | $ — | $ 1,656,382,937 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | $ — | $ (2,885,927) | $ — | $ (2,885,927) | |||
Futures Contracts (b) | (6,775,460) | — | — | (6,775,460) | |||
Total Other Financial Instruments | $ (6,775,460) | $ (2,885,927) | $ — | $ (9,661,387) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
MainStay WMC Enduring Capital Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Shares | Value | |
Common Stocks 99.8% | ||
Air Freight & Logistics 3.6% | ||
Expeditors International of Washington, Inc. | 209,805 | $ 26,907,491 |
Banks 6.0% | ||
First Republic Bank | 128,768 | 25,112,336 |
M&T Bank Corp. | 144,198 | 19,300,902 |
44,413,238 | ||
Capital Markets 6.6% | ||
Brookfield Asset Management, Inc., Class A | 487,093 | 26,298,151 |
Charles Schwab Corp. (The) | 328,979 | 22,354,123 |
48,652,274 | ||
Chemicals 7.1% | ||
Linde plc | 82,090 | 25,233,645 |
Sherwin-Williams Co. (The) | 92,787 | 27,003,801 |
52,237,446 | ||
Commercial Services & Supplies 10.8% | ||
Cintas Corp. | 64,808 | 25,546,017 |
Copart, Inc. (a) | 182,161 | 26,777,667 |
Waste Connections, Inc. | 212,661 | 26,942,022 |
79,265,706 | ||
Containers & Packaging 2.7% | ||
Ball Corp. | 248,301 | 20,082,585 |
Diversified Financial Services 3.3% | ||
Berkshire Hathaway, Inc., Class B (a) | 87,278 | 24,288,595 |
Electric Utilities 3.3% | ||
NextEra Energy, Inc. | 310,173 | 24,162,477 |
Equity Real Estate Investment Trusts 10.5% | ||
American Tower Corp. | 97,179 | 27,482,221 |
Boston Properties, Inc. | 209,239 | 24,560,474 |
Public Storage | 81,609 | 25,501,180 |
77,543,875 | ||
Food & Staples Retailing 3.9% | ||
Costco Wholesale Corp. | 66,571 | 28,606,890 |
Health Care Equipment & Supplies 3.9% | ||
Danaher Corp. | 97,029 | 28,865,157 |
Health Care Providers & Services 3.4% | ||
UnitedHealth Group, Inc. | 61,112 | 25,191,589 |
Shares | Value | ||
Common Stocks | |||
Household Durables 3.5% | |||
NVR, Inc. (a) | 4,871 | $ 25,439,284 | |
Insurance 6.3% | |||
Brookfield Asset Management Reinsurance Partners Ltd., Class A (a) | 3,730 | 202,166 | |
Markel Corp. (a) | 19,122 | 23,064,383 | |
Progressive Corp. (The) | 244,695 | 23,285,176 | |
46,551,725 | |||
Machinery 11.9% | |||
Deere & Co. | 59,463 | 21,501,226 | |
Fortive Corp. | 298,955 | 21,722,070 | |
IDEX Corp. | 110,040 | 24,944,968 | |
PACCAR, Inc. | 236,428 | 19,621,160 | |
87,789,424 | |||
Road & Rail 6.6% | |||
Canadian National Railway Co. | 215,867 | 23,455,379 | |
Old Dominion Freight Line, Inc. | 92,755 | 24,965,008 | |
48,420,387 | |||
Software 3.6% | |||
Constellation Software, Inc. | 16,475 | 26,389,976 | |
Trading Companies & Distributors 2.8% | |||
Watsco, Inc. | 73,200 | 20,674,608 | |
Total Common Stocks (Cost $652,613,376) | 735,482,727 | ||
Short-Term Investment 0.3% | |||
Affiliated Investment Company 0.3% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 1,968,767 | 1,968,767 | |
Total Short-Term Investment (Cost $1,968,767) | 1,968,767 | ||
Total Investments (Cost $654,582,143) | 100.1% | 737,451,494 | |
Other Assets, Less Liabilities | (0.1) | (519,740) | |
Net Assets | 100.0% | $ 736,931,754 |
† | Percentages indicated are based on Fund net assets. |
(a) | Non-income producing security. |
(b) | Current yield as of July 31, 2021. |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Common Stocks | $ 735,482,727 | $ — | $ — | $ 735,482,727 | |||
Short-Term Investment | |||||||
Affiliated Investment Company | 1,968,767 | — | — | 1,968,767 | |||
Total Investments in Securities | $ 737,451,494 | $ — | $ — | $ 737,451,494 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay MacKay Convertible Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 1.9% | ||
Corporate Bonds 1.9% | ||
Biotechnology 0.5% | ||
Bridgebio Pharma, Inc. | ||
2.50% , due 3/15/27 | $ 6,975,000 | $ 10,475,752 |
Oil & Gas 0.1% | ||
Valaris Ltd. | ||
Series 1145 | ||
8.25% (8.25% Cash or 12.00% PIK), due 4/30/28 (a) | 1,461,000 | 1,504,830 |
Oil & Gas Services 0.1% | ||
Weatherford International Ltd. | ||
11.00% , due 12/1/24 (b) | 1,970,000 | 2,038,950 |
Semiconductors 0.8% | ||
Silicon Laboratories, Inc. | ||
0.625% , due 6/15/25 | 11,680,000 | 15,819,392 |
Software 0.4% | ||
Five9, Inc. | ||
0.50% , due 6/1/25 | 4,675,000 | 7,529,555 |
Total Corporate Bonds (Cost $50,191,044) | 37,368,479 | |
Total Long-Term Bonds (Cost $50,191,044) | 37,368,479 | |
Convertible Securities 89.7% | ||
Convertible Bonds 79.6% | ||
Airlines 3.1% | ||
American Airlines Group, Inc. | ||
6.50%, due 7/1/25 | 7,040,000 | 10,771,200 |
JetBlue Airways Corp. | ||
0.50%, due 4/1/26 (b) | 4,632,000 | 4,567,152 |
Southwest Airlines Co. | ||
1.25%, due 5/1/25 | 27,566,000 | 40,539,249 |
Spirit Airlines, Inc. | ||
1.00%, due 5/15/26 | 3,315,000 | 3,118,089 |
58,995,690 | ||
Auto Manufacturers 1.4% | ||
Ford Motor Co. | ||
(zero coupon), due 3/15/26 (b) | 24,852,000 | 26,715,900 |
Biotechnology 5.6% | ||
Apellis Pharmaceuticals, Inc. | ||
3.50%, due 9/15/26 | 7,350,000 | 13,919,062 |
Principal Amount | Value | |
Convertible Bonds | ||
Biotechnology | ||
BioMarin Pharmaceutical, Inc. | ||
0.599%, due 8/1/24 | $ 20,188,000 | $ 20,654,343 |
1.25%, due 5/15/27 | 11,374,000 | 11,248,313 |
Exact Sciences Corp. | ||
0.375%, due 3/1/28 | 22,800,000 | 26,134,500 |
Guardant Health, Inc. | ||
(zero coupon), due 11/15/27 (b) | 7,026,000 | 7,596,863 |
Halozyme Therapeutics, Inc. | ||
0.25%, due 3/1/27 (b) | 3,556,000 | 3,258,185 |
Illumina, Inc. | ||
(zero coupon), due 8/15/23 | 12,566,000 | 15,943,112 |
Ionis Pharmaceuticals, Inc. | ||
(zero coupon), due 4/1/26 (b) | 9,349,000 | 8,979,715 |
107,734,093 | ||
Building Materials 1.0% | ||
Patrick Industries, Inc. | ||
1.00%, due 2/1/23 | 17,232,000 | 19,730,640 |
Commercial Services 3.6% | ||
Alarm.com Holdings, Inc. | ||
(zero coupon), due 1/15/26 (b) | 3,775,000 | 3,456,013 |
Chegg, Inc. | ||
(zero coupon), due 9/1/26 (b) | 8,817,000 | 9,562,036 |
Euronet Worldwide, Inc. | ||
0.75%, due 3/15/49 | 11,900,000 | 13,893,250 |
Repay Holdings Corp. | ||
(zero coupon), due 2/1/26 (b) | 2,525,000 | 2,528,156 |
Sabre GLBL, Inc. | ||
4.00%, due 4/15/25 | 1,835,000 | 3,189,230 |
Shift4 Payments, Inc. (b) | ||
(zero coupon), due 12/15/25 | 3,720,000 | 4,845,300 |
0.50%, due 8/1/27 | 1,145,000 | 1,191,516 |
Square, Inc. (b) | ||
(zero coupon), due 5/1/26 | 14,521,000 | 16,563,016 |
0.25%, due 11/1/27 | 11,637,000 | 13,760,752 |
68,989,269 | ||
Computers 2.7% | ||
Lumentum Holdings, Inc. | ||
0.25%, due 3/15/24 | 25,786,000 | 38,356,562 |
Parsons Corp. | ||
0.25%, due 8/15/25 (b) | 4,641,000 | 4,905,537 |
Zscaler, Inc. | ||
0.125%, due 7/1/25 | 5,870,000 | 9,820,510 |
53,082,609 |
Principal Amount | Value | |
Convertible Bonds | ||
Diversified Financial Services 0.2% | ||
LendingTree, Inc. | ||
0.625%, due 6/1/22 | $ 4,144,000 | $ 4,703,440 |
Electric 1.0% | ||
NRG Energy, Inc. | ||
2.75%, due 6/1/48 | 16,385,000 | 19,383,455 |
Energy-Alternate Sources 1.9% | ||
Enphase Energy, Inc. | ||
(zero coupon), due 3/1/26 (b) | 9,485,000 | 9,565,623 |
NextEra Energy Partners LP | ||
(zero coupon), due 11/15/25 (b) | 9,417,000 | 10,264,530 |
SolarEdge Technologies, Inc. | ||
(zero coupon), due 9/15/25 (b) | 14,777,000 | 17,695,457 |
37,525,610 | ||
Entertainment 1.8% | ||
Live Nation Entertainment, Inc. | ||
2.50%, due 3/15/23 | 6,833,000 | 8,908,865 |
Marriott Vacations Worldwide Corp. | ||
(zero coupon), due 1/15/26 (b) | 3,110,000 | 3,327,700 |
Vail Resorts, Inc. | ||
(zero coupon), due 1/1/26 (b) | 22,830,000 | 23,029,763 |
35,266,328 | ||
Food 0.6% | ||
Chefs' Warehouse, Inc. (The) | ||
1.875%, due 12/1/24 | 11,507,000 | 11,665,797 |
Healthcare-Products 3.1% | ||
Cantel Medical Corp. | ||
3.25%, due 5/15/25 | 4,372,000 | 9,900,881 |
CONMED Corp. | ||
2.625%, due 2/1/24 | 14,746,000 | 23,824,006 |
Haemonetics Corp. | ||
(zero coupon), due 3/1/26 (b) | 4,672,000 | 4,005,495 |
Integra LifeSciences Holdings Corp. | ||
0.50%, due 8/15/25 | 8,670,000 | 9,895,071 |
NuVasive, Inc. | ||
0.375%, due 3/15/25 | 8,085,000 | 7,852,556 |
Omnicell, Inc. | ||
0.25%, due 9/15/25 (b) | 2,760,000 | 4,357,350 |
59,835,359 | ||
Healthcare-Services 4.7% | ||
Anthem, Inc. | ||
2.75%, due 10/15/42 | 11,061,000 | 60,072,291 |
Principal Amount | Value | |
Convertible Bonds | ||
Healthcare-Services | ||
Teladoc Health, Inc. | ||
1.25%, due 6/1/27 | $ 29,441,000 | $ 31,540,143 |
91,612,434 | ||
Internet 9.8% | ||
Booking Holdings, Inc. | ||
0.90%, due 9/15/21 | 19,156,000 | 20,496,920 |
Etsy, Inc. | ||
0.125%, due 10/1/26 | 11,184,000 | 24,230,136 |
Expedia Group, Inc. | ||
(zero coupon), due 2/15/26 (b) | 2,822,000 | 3,025,184 |
Match Group Financeco 2, Inc. | ||
0.875%, due 6/15/26 (b) | 12,450,000 | 23,701,687 |
Match Group Financeco, Inc. | ||
0.875%, due 10/1/22 (b) | 2,000 | 7,247 |
Okta, Inc. | ||
0.125%, due 9/1/25 | 5,611,000 | 8,189,255 |
Palo Alto Networks, Inc. | ||
0.375%, due 6/1/25 | 9,385,000 | 13,514,400 |
0.75%, due 7/1/23 | 13,659,000 | 21,137,302 |
Q2 Holdings, Inc. | ||
0.75%, due 6/1/26 | 4,395,000 | 5,761,845 |
Shopify, Inc. | ||
0.125%, due 11/1/25 | 16,390,000 | 21,626,605 |
Snap, Inc. | ||
(zero coupon), due 5/1/27 (b) | 4,640,000 | 5,349,920 |
Twitter, Inc. | ||
(zero coupon), due 3/15/26 (b) | 7,010,000 | 6,769,031 |
Uber Technologies, Inc. | ||
(zero coupon), due 12/15/25 (b) | 4,665,000 | 4,574,033 |
Wix.com Ltd. | ||
(zero coupon), due 7/1/23 | 9,213,000 | 19,471,676 |
Zendesk, Inc. | ||
0.625%, due 6/15/25 | 8,790,000 | 12,025,599 |
189,880,840 | ||
Leisure Time 1.8% | ||
Carnival Corp. | ||
5.75%, due 4/1/23 | 6,302,000 | 14,424,018 |
NCL Corp. Ltd. | ||
5.375%, due 8/1/25 (b) | 4,670,000 | 7,420,630 |
6.00%, due 5/15/24 | 2,849,000 | 5,582,615 |
Royal Caribbean Cruises Ltd. | ||
4.25%, due 6/15/23 | 5,055,000 | 6,506,433 |
33,933,696 | ||
Machinery-Diversified 1.9% | ||
Chart Industries, Inc. | ||
1.00%, due 11/15/24 (b) | 13,592,000 | 36,528,500 |
Principal Amount | Value | |
Convertible Bonds | ||
Media 3.4% | ||
Cable One, Inc. | ||
1.125%, due 3/15/28 (b) | $ 11,860,000 | $ 12,068,978 |
DISH Network Corp. | ||
(zero coupon), due 12/15/25 (b) | 23,010,000 | 27,025,245 |
Liberty Media Corp. | ||
1.375%, due 10/15/23 | 11,345,000 | 15,128,268 |
Liberty Media Corp-Liberty Formula One | ||
1.00%, due 1/30/23 | 9,441,000 | 12,489,263 |
66,711,754 | ||
Oil & Gas 4.5% | ||
Centennial Resource Production LLC | ||
3.25%, due 4/1/28 | 14,317,000 | 16,205,412 |
EQT Corp. | ||
1.75%, due 5/1/26 | 21,040,000 | 31,179,176 |
Pioneer Natural Resources Co. | ||
0.25%, due 5/15/25 | 26,272,000 | 38,724,928 |
86,109,516 | ||
Oil & Gas Services 2.3% | ||
Helix Energy Solutions Group, Inc. | ||
6.75%, due 2/15/26 | 17,843,000 | 19,082,816 |
Oil States International, Inc. | ||
1.50%, due 2/15/23 | 1,104,000 | 1,037,082 |
4.75%, due 4/1/26 (b) | 25,301,000 | 23,714,201 |
43,834,099 | ||
Pharmaceuticals 2.5% | ||
Dexcom, Inc. | ||
0.25%, due 11/15/25 | 23,353,000 | 26,593,229 |
Neurocrine Biosciences, Inc. | ||
2.25%, due 5/15/24 | 10,073,000 | 13,082,812 |
Pacira BioSciences, Inc. | ||
0.75%, due 8/1/25 | 7,100,000 | 7,792,250 |
2.375%, due 4/1/22 | 1,655,000 | 1,760,506 |
49,228,797 | ||
Real Estate Investment Trusts 0.4% | ||
Summit Hotel Properties, Inc. | ||
1.50%, due 2/15/26 | 7,815,000 | 7,990,838 |
Retail 2.1% | ||
American Eagle Outfitters, Inc. | ||
3.75%, due 4/15/25 | 2,695,000 | 10,931,190 |
Burlington Stores, Inc. | ||
2.25%, due 4/15/25 | 13,238,000 | 21,693,772 |
Principal Amount | Value | |
Convertible Bonds | ||
Retail | ||
Cheesecake Factory, Inc. (The) | ||
0.375%, due 6/15/26 | $ 9,208,000 | $ 8,644,010 |
41,268,972 | ||
Semiconductors 4.7% | ||
Cree, Inc. | ||
1.75%, due 5/1/26 | 2,320,000 | 4,817,016 |
Microchip Technology, Inc. | ||
1.625%, due 2/15/25 | 8,778,000 | 27,711,049 |
1.625%, due 2/15/27 | 7,129,000 | 15,251,782 |
Micron Technology, Inc. | ||
Series D | ||
3.125%, due 5/1/32 | 3,183,000 | 24,738,238 |
ON Semiconductor Corp. | ||
1.625%, due 10/15/23 | 2,305,000 | 4,481,784 |
Rambus, Inc. | ||
1.375%, due 2/1/23 | 9,996,000 | 13,182,725 |
90,182,594 | ||
Software 9.5% | ||
Akamai Technologies, Inc. | ||
0.375%, due 9/1/27 | 11,420,000 | 13,497,012 |
Atlassian, Inc. | ||
0.625%, due 5/1/23 | 7,719,000 | 30,764,520 |
Bentley Systems, Inc. | ||
0.125%, due 1/15/26 (b) | 3,570,000 | 4,123,350 |
Bill.com Holdings, Inc. | ||
(zero coupon), due 12/1/25 (b) | 4,680,000 | 6,815,250 |
Coupa Software, Inc. | ||
0.375%, due 6/15/26 | 6,055,000 | 6,500,043 |
Datadog, Inc. | ||
0.125%, due 6/15/25 | 7,470,000 | 10,383,300 |
Envestnet, Inc. | ||
1.75%, due 6/1/23 | 12,037,000 | 14,745,325 |
Everbridge, Inc. | ||
0.125%, due 12/15/24 | 5,415,000 | 7,587,769 |
J2 Global, Inc. | ||
1.75%, due 11/1/26 (b) | 5,220,000 | 6,759,900 |
MongoDB, Inc. | ||
0.25%, due 1/15/26 | 7,075,000 | 12,779,219 |
RingCentral, Inc. | ||
(zero coupon), due 3/1/25 | 21,079,000 | 22,343,740 |
Slack Technologies LLC | ||
0.50%, due 4/15/25 | 6,747,000 | 10,474,717 |
Splunk, Inc. | ||
0.50%, due 9/15/23 | 12,142,000 | 14,054,365 |
Workday, Inc. | ||
0.25%, due 10/1/22 | 7,982,000 | 12,955,584 |
Principal Amount | Value | |
Convertible Bonds | ||
Software | ||
Zynga, Inc. | ||
(zero coupon), due 12/15/26 (b) | $ 8,635,000 | $ 9,072,147 |
182,856,241 | ||
Telecommunications 5.0% | ||
Infinera Corp. | ||
2.50%, due 3/1/27 | 7,050,000 | 10,572,659 |
InterDigital, Inc. | ||
2.00%, due 6/1/24 | 4,500,000 | 4,860,000 |
NICE Ltd. | ||
(zero coupon), due 9/15/25 (b) | 46,000,000 | 51,595,394 |
Viavi Solutions, Inc. | ||
1.00%, due 3/1/24 | 14,679,000 | 19,862,522 |
Vonage Holdings Corp. | ||
1.75%, due 6/1/24 | 8,091,000 | 9,009,147 |
95,899,722 | ||
Transportation 0.8% | ||
Atlas Air Worldwide Holdings, Inc. | ||
2.25%, due 6/1/22 | 13,687,000 | 14,679,308 |
Trucking & Leasing 0.2% | ||
Greenbrier Cos., Inc. (The) | ||
2.875%, due 4/15/28 (b) | 3,245,000 | 3,407,250 |
Total Convertible Bonds (Cost $1,204,798,556) | 1,537,752,751 | |
Shares | ||
Convertible Preferred Stocks 10.1% | ||
Banks 1.8% | ||
Bank of America Corp. | ||
Series L | ||
7.25% (c) | 12,072 | 17,861,128 |
Wells Fargo & Co. | ||
Series L | ||
7.50% (c) | 11,552 | 17,472,515 |
35,333,643 | ||
Capital Markets 0.7% | ||
KKR & Co., Inc. | ||
Series C | ||
6.00% | 165,650 | 13,755,576 |
Chemicals 0.3% | ||
Lyondellbasell Advanced Polymers, Inc. | ||
6.00% (c) | 5,832 | 6,006,960 |
Shares | Value | |
Convertible Preferred Stocks | ||
Electric Utilities 0.8% | ||
PG&E Corp. | ||
5.50% | 160,900 | $ 14,548,578 |
Health Care Equipment & Supplies 3.8% | ||
Becton Dickinson and Co. | ||
Series B | ||
6.00% | 86,450 | 4,860,219 |
Danaher Corp. | ||
Series A | ||
4.75% | 34,880 | 69,507,120 |
74,367,339 | ||
Independent Power and Renewable Electricity Producers 0.8% | ||
AES Corp. (The) | ||
6.875% | 147,100 | 14,912,998 |
Machinery 1.1% | ||
Stanley Black & Decker, Inc. | ||
5.25% | 182,200 | 21,499,600 |
Semiconductors & Semiconductor Equipment 0.8% | ||
Broadcom, Inc. | ||
Series A | ||
8.00% | 9,655 | 14,910,603 |
Total Convertible Preferred Stocks (Cost $165,296,330) | 195,335,297 | |
Total Convertible Securities (Cost $1,370,094,886) | 1,733,088,048 | |
Common Stocks 1.6% | ||
Banks 0.8% | ||
Bank of America Corp. | 398,621 | 15,291,102 |
Energy Equipment & Services 0.5% | ||
Valaris Ltd. (d) | 204,006 | 5,528,563 |
Weatherford International plc (d) | 272,914 | 4,759,620 |
10,288,183 | ||
Health Care Equipment & Supplies 0.3% | ||
Teleflex, Inc. | 14,082 | 5,596,609 |
Total Common Stocks (Cost $19,522,690) | 31,175,894 |
Shares | Value | ||
Short-Term Investment 6.6% | |||
Affiliated Investment Company 6.6% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (e)(f) | 128,069,302 | $ 128,069,302 | |
Total Short-Term Investment (Cost $128,069,302) | 128,069,302 | ||
Total Investments (Cost $1,567,877,922) | 99.8% | 1,929,701,723 | |
Other Assets, Less Liabilities | 0.2 | 3,276,360 | |
Net Assets | 100.0% | $ 1,932,978,083 |
† | Percentages indicated are based on Fund net assets. |
(a) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
(b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(c) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(d) | Non-income producing security. |
(e) | As of July 31, 2021, the Fund’s ownership exceeds 5% of the outstanding shares of the Underlying Fund’s share class. |
(f) | Current yield as of July 31, 2021. |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Corporate Bonds | $ — | $ 37,368,479 | $ — | $ 37,368,479 | |||
Total Corporate Bonds | — | 37,368,479 | — | 37,368,479 | |||
Convertible Securities | |||||||
Convertible Bonds | — | 1,537,752,751 | — | 1,537,752,751 | |||
Convertible Preferred Stocks | 195,335,297 | — | — | 195,335,297 | |||
Total Convertible Securities | 195,335,297 | 1,537,752,751 | — | 1,733,088,048 | |||
Common Stocks | 31,175,894 | — | — | 31,175,894 | |||
Short-Term Investment | |||||||
Affiliated Investment Company | 128,069,302 | — | — | 128,069,302 | |||
Total Investments in Securities | $ 354,580,493 | $ 1,575,121,230 | $ — | $ 1,929,701,723 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay MacKay High Yield Corporate Bond Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 92.8% | ||
Convertible Bonds 0.9% | ||
Investment Companies 0.1% | ||
Ares Capital Corp. | ||
4.625%, due 3/1/24 | $ 18,360,000 | $ 19,955,484 |
Media 0.5% | ||
DISH Network Corp. | ||
2.375%, due 3/15/24 | 35,079,000 | 34,026,630 |
3.375%, due 8/15/26 | 24,400,000 | 25,071,000 |
59,097,630 | ||
Oil & Gas Services 0.3% | ||
Forum Energy Technologies, Inc. | ||
9.00% (6.25% Cash and 2.75% PIK), due 8/4/25 (a) | 34,886,987 | 34,843,261 |
Total Convertible Bonds (Cost $105,372,322) | 113,896,375 | |
Corporate Bonds 89.0% | ||
Advertising 1.1% | ||
Lamar Media Corp. | ||
3.625%, due 1/15/31 (b) | 38,590,000 | 38,107,625 |
3.75%, due 2/15/28 | 21,000,000 | 21,315,000 |
4.00%, due 2/15/30 | 18,500,000 | 18,811,910 |
4.875%, due 1/15/29 | 5,000,000 | 5,287,500 |
Outfront Media Capital LLC (b) | ||
4.25%, due 1/15/29 | 7,275,000 | 7,287,913 |
4.625%, due 3/15/30 | 5,305,000 | 5,331,525 |
5.00%, due 8/15/27 | 19,500,000 | 19,890,000 |
6.25%, due 6/15/25 | 15,216,000 | 16,143,567 |
132,175,040 | ||
Aerospace & Defense 1.8% | ||
F-Brasile SpA | ||
Series XR | ||
7.375%, due 8/15/26 (b) | 23,280,000 | 24,036,600 |
Rolls-Royce plc | ||
5.75%, due 10/15/27 (b) | 9,000,000 | 9,821,250 |
TransDigm UK Holdings plc | ||
6.875%, due 5/15/26 | 18,100,000 | 19,086,450 |
TransDigm, Inc. | ||
4.625%, due 1/15/29 (b) | 30,700,000 | 30,623,250 |
4.875%, due 5/1/29 (b) | 22,920,000 | 22,956,214 |
6.25%, due 3/15/26 (b) | 80,375,000 | 84,293,281 |
7.50%, due 3/15/27 | 11,350,000 | 12,023,055 |
8.00%, due 12/15/25 (b) | 11,000,000 | 11,811,250 |
214,651,350 |
Principal Amount | Value | |
Corporate Bonds | ||
Airlines 1.0% | ||
American Airlines, Inc. (b) | ||
5.50%, due 4/20/26 | $ 18,160,000 | $ 18,999,900 |
5.75%, due 4/20/29 | 11,500,000 | 12,404,820 |
Delta Air Lines, Inc. | ||
4.50%, due 10/20/25 (b) | 17,200,000 | 18,490,000 |
4.75%, due 10/20/28 (b) | 23,500,000 | 26,261,250 |
7.00%, due 5/1/25 (b) | 6,000,000 | 7,057,500 |
7.375%, due 1/15/26 | 7,000,000 | 8,240,477 |
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (b) | 18,910,000 | 20,588,263 |
Spirit Loyalty Cayman Ltd. | ||
8.00%, due 9/20/25 (b) | 4,487,951 | 5,037,725 |
117,079,935 | ||
Apparel 0.0% ‡ | ||
Levi Strauss & Co. | ||
5.00%, due 5/1/25 | 3,000,000 | 3,056,250 |
Auto Manufacturers 2.3% | ||
Ford Holdings LLC | ||
9.30%, due 3/1/30 | 30,695,000 | 42,053,685 |
Ford Motor Co. | ||
7.45%, due 7/16/31 | 16,935,000 | 22,415,335 |
9.00%, due 4/22/25 | 8,400,000 | 10,339,980 |
9.625%, due 4/22/30 | 7,000,000 | 10,106,250 |
Ford Motor Credit Co. LLC | ||
3.339%, due 3/28/22 | 6,000,000 | 6,065,999 |
3.375%, due 11/13/25 | 12,000,000 | 12,527,923 |
4.00%, due 11/13/30 | 25,000,000 | 26,437,500 |
4.125%, due 8/17/27 | 4,000,000 | 4,280,000 |
4.271%, due 1/9/27 | 7,500,000 | 8,079,000 |
4.389%, due 1/8/26 | 2,500,000 | 2,712,500 |
5.125%, due 6/16/25 | 13,000,000 | 14,316,250 |
5.584%, due 3/18/24 | 3,660,000 | 3,988,668 |
General Motors Co. | ||
6.80%, due 10/1/27 | 5,500,000 | 6,999,862 |
General Motors Financial Co., Inc. | ||
4.35%, due 4/9/25 | 7,410,000 | 8,210,454 |
5.25%, due 3/1/26 | 14,220,000 | 16,485,162 |
JB Poindexter & Co., Inc. | ||
7.125%, due 4/15/26 (b) | 41,745,000 | 43,988,794 |
Mclaren Finance plc | ||
5.75%, due 8/1/22 (b) | 8,803,000 | 8,803,000 |
PM General Purchaser LLC | ||
9.50%, due 10/1/28 (b) | 16,140,000 | 16,947,000 |
Wabash National Corp. | ||
5.50%, due 10/1/25 (b) | 17,824,000 | 18,091,360 |
282,848,722 |
Principal Amount | Value | |
Corporate Bonds | ||
Auto Parts & Equipment 2.2% | ||
Adient Global Holdings Ltd. | ||
4.875%, due 8/15/26 (b) | $ 24,525,000 | $ 25,076,813 |
Adient US LLC | ||
9.00%, due 4/15/25 (b) | 8,635,000 | 9,439,782 |
American Axle & Manufacturing, Inc. | ||
6.25%, due 4/1/25 | 2,294,000 | 2,371,423 |
Dealer Tire LLC | ||
8.00%, due 2/1/28 (b) | 5,565,000 | 5,989,943 |
Exide Global Holding Netherlands CV | ||
10.75%, due 10/26/24 (c)(d)(e) | 13,730,000 | 13,455,400 |
Goodyear Tire & Rubber Co. (The) (b) | ||
5.00%, due 7/15/29 | 14,400,000 | 15,148,368 |
5.25%, due 7/15/31 | 8,220,000 | 8,672,100 |
IHO Verwaltungs GmbH (a)(b) | ||
4.75% (4.75% Cash or 5.50% PIK), due 9/15/26 | 34,785,000 | 35,739,848 |
6.00% (6.00% Cash or 6.75% PIK), due 5/15/27 | 36,674,000 | 38,209,299 |
6.375% (6.375% Cash or 7.125% PIK), due 5/15/29 | 32,170,000 | 34,854,650 |
Meritor, Inc. (b) | ||
4.50%, due 12/15/28 | 2,000,000 | 2,047,400 |
6.25%, due 6/1/25 | 8,000,000 | 8,520,000 |
Real Hero Merger Sub 2, Inc. | ||
6.25%, due 2/1/29 (b) | 39,945,000 | 41,299,135 |
Tenneco, Inc. | ||
5.375%, due 12/15/24 | 4,100,000 | 4,121,771 |
7.875%, due 1/15/29 (b) | 15,000,000 | 16,950,000 |
Wheel Pros, Inc. | ||
6.50%, due 5/15/29 (b) | 4,000,000 | 4,060,000 |
265,955,932 | ||
Beverages 0.0% ‡ | ||
Primo Water Holdings, Inc. | ||
4.375%, due 4/30/29 (b) | 5,000,000 | 5,000,000 |
Biotechnology 0.1% | ||
HCRX Investments Holdco LP | ||
4.50%, due 8/1/29 (b) | 9,200,000 | 9,384,000 |
Building Materials 1.2% | ||
Griffon Corp. | ||
5.75%, due 3/1/28 | 5,300,000 | 5,576,236 |
James Hardie International Finance DAC | ||
5.00%, due 1/15/28 (b) | 31,840,000 | 33,756,768 |
Koppers, Inc. | ||
6.00%, due 2/15/25 (b) | 27,535,000 | 28,223,375 |
Patrick Industries, Inc. (b) | ||
4.75%, due 5/1/29 | 6,090,000 | 6,216,063 |
7.50%, due 10/15/27 | 21,040,000 | 22,881,000 |
Principal Amount | Value | |
Corporate Bonds | ||
Building Materials | ||
Summit Materials LLC (b) | ||
5.125%, due 6/1/25 | $ 7,815,000 | $ 7,890,649 |
5.25%, due 1/15/29 | 15,500,000 | 16,449,375 |
6.50%, due 3/15/27 | 21,730,000 | 22,793,901 |
143,787,367 | ||
Chemicals 1.5% | ||
CVR Partners LP | ||
6.125%, due 6/15/28 (b) | 6,175,000 | 6,429,719 |
GPD Cos., Inc. | ||
10.125%, due 4/1/26 (b) | 26,307,000 | 28,477,328 |
Innophos Holdings, Inc. | ||
9.375%, due 2/15/28 (b) | 27,851,000 | 30,009,452 |
Iris Holdings, Inc. | ||
8.75% (8.75% Cash or 9.50% PIK), due 2/15/26 (a)(b) | 14,175,000 | 14,457,791 |
NOVA Chemicals Corp. (b) | ||
4.875%, due 6/1/24 | 9,810,000 | 10,372,211 |
5.25%, due 6/1/27 | 12,500,000 | 13,468,750 |
SCIH Salt Holdings, Inc. (b) | ||
4.875%, due 5/1/28 | 10,000,000 | 9,987,500 |
6.625%, due 5/1/29 | 26,930,000 | 26,660,700 |
TPC Group, Inc. (b) | ||
10.50%, due 8/1/24 | 13,682,000 | 13,476,633 |
10.875%, due 8/1/24 | 22,000,721 | 23,210,761 |
TPC Group, Inc. Escrow Claim Shares | ||
(zero coupon), due 12/31/49 (c)(d)(e)(f) | 220,007 | — |
176,550,845 | ||
Coal 0.2% | ||
Coronado Finance Pty. Ltd. | ||
10.75%, due 5/15/26 (b) | 9,800,000 | 10,633,000 |
Natural Resource Partners LP | ||
9.125%, due 6/30/25 (b) | 10,000,000 | 9,925,000 |
20,558,000 | ||
Commercial Services 3.5% | ||
Allied Universal Holdco LLC (b) | ||
6.625%, due 7/15/26 | 10,890,000 | 11,529,788 |
9.75%, due 7/15/27 | 14,705,000 | 16,118,150 |
AMN Healthcare, Inc. (b) | ||
4.00%, due 4/15/29 | 7,500,000 | 7,687,500 |
4.625%, due 10/1/27 | 10,977,000 | 11,429,801 |
Ashtead Capital, Inc. (b) | ||
4.00%, due 5/1/28 | 13,500,000 | 14,208,750 |
4.25%, due 11/1/29 | 7,000,000 | 7,586,250 |
5.25%, due 8/1/26 | 18,120,000 | 18,844,800 |
Carriage Services, Inc. | ||
4.25%, due 5/15/29 (b) | 7,500,000 | 7,481,250 |
Principal Amount | Value | |
Corporate Bonds | ||
Commercial Services | ||
Cimpress plc | ||
7.00%, due 6/15/26 (b) | $ 30,585,000 | $ 32,114,250 |
Gartner, Inc. (b) | ||
3.75%, due 10/1/30 | 18,870,000 | 19,388,925 |
4.50%, due 7/1/28 | 4,000,000 | 4,230,000 |
Graham Holdings Co. | ||
5.75%, due 6/1/26 (b) | 39,695,000 | 41,307,808 |
IHS Markit Ltd. (b) | ||
4.75%, due 2/15/25 | 3,000,000 | 3,352,200 |
5.00%, due 11/1/22 | 28,545,000 | 29,754,310 |
Korn Ferry | ||
4.625%, due 12/15/27 (b) | 10,685,000 | 11,032,263 |
MPH Acquisition Holdings LLC | ||
5.75%, due 11/1/28 (b) | 12,855,000 | 12,482,591 |
NESCO Holdings II, Inc. | ||
5.50%, due 4/15/29 (b) | 12,650,000 | 13,053,851 |
Nielsen Co. Luxembourg SARL (The) | ||
5.00%, due 2/1/25 (b) | 4,000,000 | 4,107,600 |
Nielsen Finance LLC (b) | ||
4.50%, due 7/15/29 | 7,130,000 | 7,183,439 |
4.75%, due 7/15/31 | 9,250,000 | 9,329,319 |
Ritchie Bros Auctioneers, Inc. | ||
5.375%, due 1/15/25 (b) | 30,925,000 | 31,620,812 |
Service Corp. International | ||
3.375%, due 8/15/30 | 17,700,000 | 17,653,980 |
Square, Inc. (b) | ||
2.75%, due 6/1/26 | 3,000,000 | 3,067,500 |
3.50%, due 6/1/31 | 8,155,000 | 8,473,779 |
United Rentals North America, Inc. | ||
3.75%, due 1/15/32 | 10,000,000 | 10,000,000 |
3.875%, due 11/15/27 | 10,735,000 | 11,218,075 |
3.875%, due 2/15/31 | 17,500,000 | 18,001,200 |
4.875%, due 1/15/28 | 8,300,000 | 8,764,800 |
5.25%, due 1/15/30 | 3,500,000 | 3,829,770 |
WW International, Inc. | ||
4.50%, due 4/15/29 (b) | 22,110,000 | 22,413,349 |
417,266,110 | ||
Computers 0.0% ‡ | ||
Booz Allen Hamilton, Inc. | ||
4.00%, due 7/1/29 (b) | 5,000,000 | 5,134,950 |
Cosmetics & Personal Care 0.4% | ||
Edgewell Personal Care Co. (b) | ||
4.125%, due 4/1/29 | 27,480,000 | 27,651,750 |
5.50%, due 6/1/28 | 13,505,000 | 14,300,039 |
41,951,789 |
Principal Amount | Value | |
Corporate Bonds | ||
Distribution & Wholesale 0.6% | ||
Avient Corp. | ||
5.25%, due 3/15/23 | $ 26,406,000 | $ 28,056,375 |
5.75%, due 5/15/25 (b) | 8,550,000 | 8,977,500 |
G-III Apparel Group Ltd. | ||
7.875%, due 8/15/25 (b) | 22,000,000 | 23,897,500 |
H&E Equipment Services, Inc. | ||
3.875%, due 12/15/28 (b) | 13,920,000 | 13,798,200 |
74,729,575 | ||
Diversified Financial Services 1.8% | ||
Credit Acceptance Corp. | ||
5.125%, due 12/31/24 (b) | 15,215,000 | 15,728,506 |
6.625%, due 3/15/26 | 32,875,000 | 34,683,125 |
Enact Holdings, Inc. | ||
6.50%, due 8/15/25 (b) | 25,600,000 | 27,758,661 |
Jefferies Finance LLC (b) | ||
5.00%, due 8/15/28 | 26,800,000 | 27,409,700 |
6.25%, due 6/3/26 | 14,020,000 | 15,116,364 |
LPL Holdings, Inc. (b) | ||
4.00%, due 3/15/29 | 28,810,000 | 29,242,150 |
4.375%, due 5/15/31 | 7,500,000 | 7,678,125 |
4.625%, due 11/15/27 | 8,000,000 | 8,250,000 |
Oxford Finance LLC | ||
6.375%, due 12/15/22 (b) | 17,860,000 | 17,985,913 |
PennyMac Financial Services, Inc. | ||
4.25%, due 2/15/29 (b) | 13,000,000 | 12,584,585 |
PRA Group, Inc. | ||
7.375%, due 9/1/25 (b) | 16,400,000 | 17,671,000 |
StoneX Group, Inc. | ||
8.625%, due 6/15/25 (b) | 8,196,000 | 8,902,250 |
223,010,379 | ||
Electric 1.5% | ||
Clearway Energy Operating LLC | ||
4.75%, due 3/15/28 (b) | 22,940,000 | 24,316,400 |
5.00%, due 9/15/26 | 1,960,000 | 2,006,021 |
DPL, Inc. | ||
4.125%, due 7/1/25 | 22,825,000 | 24,472,965 |
Keystone Power Pass-Through Holders LLC | ||
13.00% (13.00% PIK), due 6/1/24 (a)(b)(d) | 11,715,981 | 8,786,986 |
Leeward Renewable Energy Operations LLC | ||
4.25%, due 7/1/29 (b) | 16,665,000 | 16,998,300 |
NextEra Energy Operating Partners LP | ||
3.875%, due 10/15/26 (b) | 16,330,000 | 17,187,325 |
NRG Energy, Inc. | ||
5.75%, due 1/15/28 | 3,000,000 | 3,187,500 |
6.625%, due 1/15/27 | 10,570,000 | 10,942,064 |
Principal Amount | Value | |
Corporate Bonds | ||
Electric | ||
Pattern Energy Operations LP | ||
4.50%, due 8/15/28 (b) | $ 18,500,000 | $ 19,095,885 |
PG&E Corp. | ||
5.00%, due 7/1/28 | 22,300,000 | 21,714,625 |
5.25%, due 7/1/30 | 13,000,000 | 12,691,250 |
Vistra Operations Co. LLC (b) | ||
4.375%, due 5/1/29 | 9,000,000 | 9,225,000 |
5.00%, due 7/31/27 | 10,500,000 | 10,841,250 |
181,465,571 | ||
Electrical Components & Equipment 0.1% | ||
WESCO Distribution, Inc. (b) | ||
7.125%, due 6/15/25 | 6,665,000 | 7,164,808 |
7.25%, due 6/15/28 | 5,000,000 | 5,565,000 |
12,729,808 | ||
Energy-Alternate Sources 0.1% | ||
Renewable Energy Group, Inc. | ||
5.875%, due 6/1/28 (b) | 15,550,000 | 16,210,875 |
Engineering & Construction 0.4% | ||
Arcosa, Inc. | ||
4.375%, due 4/15/29 (b) | 5,345,000 | 5,465,263 |
Great Lakes Dredge & Dock Corp. | ||
5.25%, due 6/1/29 (b) | 5,610,000 | 5,778,300 |
PowerTeam Services LLC | ||
9.033%, due 12/4/25 (b) | 15,425,000 | 16,988,169 |
Weekley Homes LLC | ||
4.875%, due 9/15/28 (b) | 21,580,000 | 22,317,389 |
50,549,121 | ||
Entertainment 2.5% | ||
Affinity Gaming | ||
6.875%, due 12/15/27 (b) | 7,795,000 | 8,265,038 |
Allen Media LLC | ||
10.50%, due 2/15/28 (b) | 17,970,000 | 17,925,075 |
Bally's Corp. | ||
6.75%, due 6/1/27 (b) | 23,765,000 | 25,666,200 |
CCM Merger, Inc. | ||
6.375%, due 5/1/26 (b) | 5,000,000 | 5,233,650 |
Churchill Downs, Inc. (b) | ||
4.75%, due 1/15/28 | 36,815,000 | 38,149,544 |
5.50%, due 4/1/27 | 38,727,000 | 40,267,560 |
Everi Holdings, Inc. | ||
5.00%, due 7/15/29 (b) | 1,645,000 | 1,682,013 |
International Game Technology plc | ||
6.25%, due 1/15/27 (b) | 24,700,000 | 28,022,150 |
Principal Amount | Value | |
Corporate Bonds | ||
Entertainment | ||
Jacobs Entertainment, Inc. | ||
7.875%, due 2/1/24 (b) | $ 10,359,000 | $ 10,786,309 |
Live Nation Entertainment, Inc. (b) | ||
3.75%, due 1/15/28 | 5,500,000 | 5,513,420 |
6.50%, due 5/15/27 | 38,280,000 | 42,251,550 |
Merlin Entertainments Ltd. | ||
5.75%, due 6/15/26 (b) | 34,400,000 | 35,862,000 |
Midwest Gaming Borrower LLC | ||
4.875%, due 5/1/29 (b) | 6,750,000 | 6,783,750 |
Motion Bondco DAC | ||
6.625%, due 11/15/27 (b) | 15,100,000 | 15,326,500 |
Powdr Corp. | ||
6.00%, due 8/1/25 (b) | 12,300,000 | 12,877,854 |
Vail Resorts, Inc. | ||
6.25%, due 5/15/25 (b) | 10,095,000 | 10,722,404 |
305,335,017 | ||
Environmental Control 0.2% | ||
Madison IAQ LLC (b) | ||
4.125%, due 6/30/28 | 8,250,000 | 8,262,128 |
5.875%, due 6/30/29 | 9,700,000 | 9,803,790 |
18,065,918 | ||
Food 2.1% | ||
B&G Foods, Inc. | ||
5.25%, due 4/1/25 | 24,375,000 | 24,925,631 |
Kraft Heinz Foods Co. | ||
3.875%, due 5/15/27 | 17,155,000 | 18,999,533 |
4.25%, due 3/1/31 | 9,500,000 | 10,962,744 |
6.50%, due 2/9/40 | 24,794,000 | 35,412,132 |
6.875%, due 1/26/39 | 34,650,000 | 50,873,538 |
7.125%, due 8/1/39 (b) | 8,225,000 | 12,259,698 |
Lamb Weston Holdings, Inc. | ||
4.875%, due 5/15/28 (b) | 12,310,000 | 13,633,325 |
Land O' Lakes, Inc. | ||
6.00%, due 11/15/22 (b) | 21,000,000 | 22,128,750 |
Land O'Lakes Capital Trust I | ||
7.45%, due 3/15/28 (b) | 18,586,000 | 21,378,918 |
Nathan's Famous, Inc. | ||
6.625%, due 11/1/25 (b) | 4,000,000 | 4,090,000 |
Post Holdings, Inc. | ||
4.625%, due 4/15/30 (b) | 5,000,000 | 5,093,750 |
Simmons Foods, Inc. | ||
4.625%, due 3/1/29 (b) | 17,350,000 | 17,516,560 |
TreeHouse Foods, Inc. | ||
4.00%, due 9/1/28 | 13,600,000 | 13,617,000 |
250,891,579 |
Principal Amount | Value | |
Corporate Bonds | ||
Food Service 0.2% | ||
Aramark Services, Inc. | ||
6.375%, due 5/1/25 (b) | $ 26,315,000 | $ 27,766,272 |
Forest Products & Paper 0.9% | ||
Mercer International, Inc. | ||
5.125%, due 2/1/29 | 35,710,000 | 36,379,563 |
5.50%, due 1/15/26 | 2,585,000 | 2,641,792 |
Schweitzer-Mauduit International, Inc. | ||
6.875%, due 10/1/26 (b) | 12,500,000 | 13,257,750 |
Smurfit Kappa Treasury Funding DAC | ||
7.50%, due 11/20/25 | 45,070,000 | 56,055,812 |
108,334,917 | ||
Gas 0.7% | ||
AmeriGas Partners LP | ||
5.625%, due 5/20/24 | 20,106,000 | 21,940,672 |
5.75%, due 5/20/27 | 13,560,000 | 15,288,900 |
5.875%, due 8/20/26 | 25,075,000 | 28,084,000 |
Rockpoint Gas Storage Canada Ltd. | ||
7.00%, due 3/31/23 (b) | 19,230,000 | 19,566,525 |
84,880,097 | ||
Hand & Machine Tools 0.1% | ||
Werner FinCo. LP | ||
8.75%, due 7/15/25 (b) | 13,030,000 | 13,551,200 |
Healthcare-Products 0.9% | ||
Hologic, Inc. (b) | ||
3.25%, due 2/15/29 | 29,000,000 | 29,290,580 |
4.625%, due 2/1/28 | 10,205,000 | 10,766,275 |
Teleflex, Inc. | ||
4.25%, due 6/1/28 (b) | 38,005,000 | 39,620,213 |
4.625%, due 11/15/27 | 5,000,000 | 5,273,550 |
Varex Imaging Corp. | ||
7.875%, due 10/15/27 (b) | 18,002,000 | 20,076,608 |
105,027,226 | ||
Healthcare-Services 4.7% | ||
Acadia Healthcare Co., Inc. (b) | ||
5.00%, due 4/15/29 | 7,000,000 | 7,332,500 |
5.50%, due 7/1/28 | 8,950,000 | 9,542,938 |
Catalent Pharma Solutions, Inc. (b) | ||
3.125%, due 2/15/29 | 27,560,000 | 27,008,800 |
5.00%, due 7/15/27 | 15,395,000 | 16,107,019 |
Centene Corp. | ||
3.00%, due 10/15/30 | 11,700,000 | 12,157,938 |
4.625%, due 12/15/29 | 15,070,000 | 16,515,966 |
5.375%, due 6/1/26 (b) | 3,045,000 | 3,171,977 |
Principal Amount | Value | |
Corporate Bonds | ||
Healthcare-Services | ||
Centene Corp. | ||
5.375%, due 8/15/26 (b) | $ 4,255,000 | $ 4,430,732 |
Charles River Laboratories International, Inc. | ||
4.00%, due 3/15/31 (b) | 5,000,000 | 5,260,500 |
DaVita, Inc. (b) | ||
3.75%, due 2/15/31 | 7,500,000 | 7,273,275 |
4.625%, due 6/1/30 | 10,780,000 | 11,143,825 |
Encompass Health Corp. | ||
4.50%, due 2/1/28 | 23,185,000 | 24,054,437 |
4.625%, due 4/1/31 | 5,000,000 | 5,438,250 |
4.75%, due 2/1/30 | 20,790,000 | 22,193,325 |
HCA, Inc. | ||
3.50%, due 9/1/30 | 20,920,000 | 22,718,074 |
5.25%, due 4/15/25 | 10,000,000 | 11,474,966 |
5.375%, due 2/1/25 | 26,525,000 | 30,063,435 |
5.375%, due 9/1/26 | 4,170,000 | 4,847,625 |
5.625%, due 9/1/28 | 11,000,000 | 13,227,500 |
5.875%, due 5/1/23 | 7,240,000 | 7,837,300 |
5.875%, due 2/15/26 | 25,000,000 | 29,062,500 |
5.875%, due 2/1/29 | 4,565,000 | 5,580,713 |
7.50%, due 12/15/23 | 2,500,000 | 2,850,000 |
7.50%, due 11/6/33 | 44,975,000 | 63,583,406 |
7.58%, due 9/15/25 | 11,020,000 | 13,334,200 |
7.69%, due 6/15/25 | 31,650,000 | 38,454,750 |
8.36%, due 4/15/24 | 4,524,000 | 5,315,700 |
IQVIA, Inc. (b) | ||
5.00%, due 10/15/26 | 30,113,000 | 30,941,107 |
5.00%, due 5/15/27 | 5,000,000 | 5,212,500 |
Legacy LifePoint Health LLC | ||
6.75%, due 4/15/25 (b) | 9,190,000 | 9,711,073 |
LifePoint Health, Inc. | ||
5.375%, due 1/15/29 (b) | 17,378,000 | 17,291,110 |
ModivCare, Inc. | ||
5.875%, due 11/15/25 (b) | 6,000,000 | 6,367,500 |
Molina Healthcare, Inc. | ||
3.875%, due 11/15/30 (b) | 13,500,000 | 14,293,125 |
4.375%, due 6/15/28 (b) | 6,000,000 | 6,277,500 |
5.375%, due 11/15/22 (g) | 8,180,000 | 8,523,560 |
RegionalCare Hospital Partners Holdings, Inc. | ||
9.75%, due 12/1/26 (b) | 35,490,000 | 37,713,448 |
Select Medical Corp. | ||
6.25%, due 8/15/26 (b) | 9,950,000 | 10,519,339 |
566,831,913 |
Principal Amount | Value | |
Corporate Bonds | ||
Holding Companies-Diversified 0.3% | ||
Stena International SA (b) | ||
5.75%, due 3/1/24 | $ 5,000,000 | $ 5,168,025 |
6.125%, due 2/1/25 | 34,995,000 | 36,307,313 |
41,475,338 | ||
Home Builders 2.2% | ||
Adams Homes, Inc. | ||
7.50%, due 2/15/25 (b) | 21,730,000 | 22,762,175 |
Ashton Woods USA LLC (b) | ||
6.625%, due 1/15/28 | 6,000,000 | 6,405,000 |
6.75%, due 8/1/25 | 5,496,000 | 5,681,490 |
9.875%, due 4/1/27 | 10,540,000 | 11,725,750 |
Brookfield Residential Properties, Inc. | ||
6.25%, due 9/15/27 (b) | 17,360,000 | 18,333,028 |
Century Communities, Inc. | ||
5.875%, due 7/15/25 | 4,630,000 | 4,758,251 |
6.75%, due 6/1/27 | 26,205,000 | 27,829,448 |
Installed Building Products, Inc. | ||
5.75%, due 2/1/28 (b) | 17,080,000 | 17,848,600 |
M/I Homes, Inc. | ||
4.95%, due 2/1/28 | 7,500,000 | 7,860,000 |
5.625%, due 8/1/25 | 6,000,000 | 6,165,000 |
Meritage Homes Corp. | ||
3.875%, due 4/15/29 (b) | 21,415,000 | 22,560,274 |
5.125%, due 6/6/27 | 8,515,000 | 9,570,860 |
Picasso Finance Sub, Inc. | ||
6.125%, due 6/15/25 (b) | 16,550,000 | 17,543,000 |
Shea Homes LP (b) | ||
4.75%, due 2/15/28 | 26,925,000 | 27,598,125 |
4.75%, due 4/1/29 | 9,875,000 | 10,122,863 |
STL Holding Co. LLC | ||
7.50%, due 2/15/26 (b) | 12,000,000 | 12,630,000 |
Williams Scotsman International, Inc. | ||
4.625%, due 8/15/28 (b) | 14,000,000 | 14,420,000 |
Winnebago Industries, Inc. | ||
6.25%, due 7/15/28 (b) | 15,795,000 | 16,979,625 |
260,793,489 | ||
Household Products & Wares 0.2% | ||
Central Garden & Pet Co. | ||
4.125%, due 10/15/30 | 9,350,000 | 9,642,188 |
Spectrum Brands, Inc. | ||
5.75%, due 7/15/25 | 11,687,000 | 12,003,133 |
21,645,321 | ||
Housewares 0.2% | ||
Newell Brands, Inc. | ||
4.875%, due 6/1/25 | 5,035,000 | 5,576,262 |
Principal Amount | Value | |
Corporate Bonds | ||
Housewares | ||
Scotts Miracle-Gro Co. (The) | ||
4.00%, due 4/1/31 (b) | $ 13,565,000 | $ 13,631,740 |
19,208,002 | ||
Insurance 0.9% | ||
American Equity Investment Life Holding Co. | ||
5.00%, due 6/15/27 | 8,000,000 | 9,139,817 |
Fairfax Financial Holdings Ltd. | ||
8.30%, due 4/15/26 | 5,435,000 | 6,881,857 |
Fidelity & Guaranty Life Holdings, Inc. | ||
5.50%, due 5/1/25 (b) | 15,725,000 | 18,106,138 |
MGIC Investment Corp. | ||
5.25%, due 8/15/28 | 20,175,000 | 21,447,552 |
NMI Holdings, Inc. | ||
7.375%, due 6/1/25 (b) | 16,000,000 | 18,240,000 |
Radian Group, Inc. | ||
4.875%, due 3/15/27 | 5,000,000 | 5,438,800 |
USI, Inc. | ||
6.875%, due 5/1/25 (b) | 25,170,000 | 25,641,938 |
104,896,102 | ||
Internet 2.2% | ||
Cars.com, Inc. | ||
6.375%, due 11/1/28 (b) | 17,470,000 | 18,609,393 |
Netflix, Inc. | ||
3.625%, due 6/15/25 (b) | 10,000,000 | 10,737,000 |
4.875%, due 4/15/28 | 10,131,000 | 11,838,985 |
4.875%, due 6/15/30 (b) | 11,000,000 | 13,252,470 |
5.375%, due 11/15/29 (b) | 9,430,000 | 11,634,263 |
5.50%, due 2/15/22 | 22,265,000 | 22,849,456 |
5.75%, due 3/1/24 | 24,961,000 | 27,794,074 |
5.875%, due 2/15/25 | 7,411,000 | 8,533,174 |
5.875%, due 11/15/28 | 32,450,000 | 40,319,125 |
Uber Technologies, Inc. (b) | ||
6.25%, due 1/15/28 | 4,125,000 | 4,450,875 |
7.50%, due 5/15/25 | 12,075,000 | 12,931,721 |
7.50%, due 9/15/27 | 23,710,000 | 25,907,917 |
VeriSign, Inc. | ||
4.75%, due 7/15/27 | 19,419,000 | 20,619,728 |
5.25%, due 4/1/25 | 26,661,000 | 30,329,554 |
259,807,735 | ||
Investment Companies 1.3% | ||
ARES Capital Corp. | ||
4.20%, due 6/10/24 | 5,000,000 | 5,388,463 |
Compass Group Diversified Holdings LLC | ||
5.25%, due 4/15/29 (b) | 34,750,000 | 36,048,086 |
FS Energy and Power Fund | ||
7.50%, due 8/15/23 (b) | 82,632,000 | 85,707,125 |
Principal Amount | Value | |
Corporate Bonds | ||
Investment Companies | ||
Icahn Enterprises LP | ||
5.25%, due 5/15/27 | $ 13,705,000 | $ 14,407,381 |
6.25%, due 5/15/26 | 12,770,000 | 13,418,716 |
154,969,771 | ||
Iron & Steel 1.0% | ||
Allegheny Ludlum LLC | ||
6.95%, due 12/15/25 | 22,688,000 | 24,648,243 |
Big River Steel LLC | ||
6.625%, due 1/31/29 (b) | 37,000,000 | 40,653,750 |
Mineral Resources Ltd. | ||
8.125%, due 5/1/27 (b) | 47,945,000 | 52,460,460 |
117,762,453 | ||
Leisure Time 2.5% | ||
Carlson Travel, Inc. (b) | ||
6.75%, due 12/15/25 (f)(h) | 52,916,000 | 48,153,560 |
10.50%, due 3/31/25 (g) | 37,071,219 | 38,646,746 |
11.50% (9.50% Cash and 2.00% PIK), due 12/15/26 (a)(f)(h)(i) | 32,358,545 | 15,208,516 |
Carnival Corp. (b) | ||
4.00%, due 8/1/28 | 33,500,000 | 33,361,980 |
5.75%, due 3/1/27 | 61,000,000 | 61,991,250 |
7.625%, due 3/1/26 | 8,500,000 | 8,978,125 |
9.875%, due 8/1/27 | 31,843,000 | 36,458,643 |
10.50%, due 2/1/26 | 28,445,000 | 32,568,956 |
11.50%, due 4/1/23 | 4,251,000 | 4,793,002 |
Royal Caribbean Cruises Ltd. | ||
5.50%, due 4/1/28 (b) | 22,770,000 | 23,218,569 |
303,379,347 | ||
Lodging 1.7% | ||
Boyd Gaming Corp. | ||
4.75%, due 12/1/27 | 25,635,000 | 26,564,269 |
4.75%, due 6/15/31 (b) | 27,500,000 | 28,451,632 |
8.625%, due 6/1/25 (b) | 8,000,000 | 8,719,920 |
Hilton Domestic Operating Co., Inc. | ||
3.75%, due 5/1/29 (b) | 5,000,000 | 5,053,800 |
4.00%, due 5/1/31 (b) | 22,315,000 | 22,839,960 |
4.875%, due 1/15/30 | 24,325,000 | 26,090,752 |
5.375%, due 5/1/25 (b) | 5,000,000 | 5,225,550 |
5.75%, due 5/1/28 (b) | 12,500,000 | 13,437,500 |
Hyatt Hotels Corp. | ||
5.375%, due 4/23/25 | 7,715,000 | 8,738,137 |
5.75%, due 4/23/30 | 8,095,000 | 9,919,184 |
Marriott International, Inc. | ||
Series GG | ||
3.50%, due 10/15/32 | 9,200,000 | 9,927,454 |
Series FF | ||
4.625%, due 6/15/30 | 3,000,000 | 3,473,793 |
Principal Amount | Value | |
Corporate Bonds | ||
Lodging | ||
Marriott International, Inc. | ||
Series EE | ||
5.75%, due 5/1/25 | $ 28,075,000 | $ 32,396,099 |
Marriott Ownership Resorts, Inc. | ||
6.50%, due 9/15/26 | 3,668,000 | 3,803,936 |
204,641,986 | ||
Machinery—Construction & Mining 0.1% | ||
Terex Corp. | ||
5.00%, due 5/15/29 (b) | 8,575,000 | 8,885,844 |
Machinery-Diversified 0.5% | ||
Briggs & Stratton Corp. Escrow Claim Shares | ||
6.875%, due 12/15/20 (f)(h)(j) | 9,200,000 | 690,000 |
Colfax Corp. | ||
6.375%, due 2/15/26 (b) | 13,980,000 | 14,748,900 |
Stevens Holding Co., Inc. | ||
6.125%, due 10/1/26 (b) | 16,965,000 | 18,194,963 |
TK Elevator US Newco, Inc. | ||
5.25%, due 7/15/27 (b) | 16,425,000 | 17,345,621 |
Vertical Holdco GmbH | ||
7.625%, due 7/15/28 (b) | 10,515,000 | 11,379,333 |
62,358,817 | ||
Media 6.1% | ||
Block Communications, Inc. | ||
4.875%, due 3/1/28 (b) | 15,000,000 | 15,187,500 |
Cable One, Inc. | ||
4.00%, due 11/15/30 (b) | 35,800,000 | 35,979,000 |
CCO Holdings LLC | ||
4.25%, due 2/1/31 (b) | 34,815,000 | 35,921,073 |
4.50%, due 8/15/30 (b) | 42,430,000 | 44,551,500 |
4.50%, due 5/1/32 | 36,900,000 | 38,606,625 |
4.50%, due 6/1/33 (b) | 16,100,000 | 16,760,100 |
4.75%, due 3/1/30 (b) | 31,835,000 | 33,743,578 |
5.00%, due 2/1/28 (b) | 21,000,000 | 22,018,500 |
5.125%, due 5/1/27 (b) | 41,225,000 | 43,131,656 |
5.375%, due 6/1/29 (b) | 13,495,000 | 14,687,958 |
5.50%, due 5/1/26 (b) | 825,000 | 852,819 |
5.75%, due 2/15/26 (b) | 15,853,000 | 16,392,002 |
CSC Holdings LLC (b) | ||
5.75%, due 1/15/30 | 23,900,000 | 24,908,341 |
6.50%, due 2/1/29 | 7,000,000 | 7,720,440 |
Diamond Sports Group LLC (b) | ||
5.375%, due 8/15/26 | 4,200,000 | 2,436,000 |
6.625%, due 8/15/27 | 13,930,000 | 5,519,762 |
DIRECTV Holdings LLC | ||
5.875%, due 8/15/27 (b) | 11,700,000 | 12,096,630 |
Principal Amount | Value | |
Corporate Bonds | ||
Media | ||
DISH DBS Corp. | ||
5.875%, due 7/15/22 | $ 14,537,000 | $ 15,045,795 |
7.75%, due 7/1/26 | 30,375,000 | 34,665,469 |
LCPR Senior Secured Financing DAC (b) | ||
5.125%, due 7/15/29 | 11,100,000 | 11,349,750 |
6.75%, due 10/15/27 | 53,680,000 | 57,276,023 |
Meredith Corp. | ||
6.50%, due 7/1/25 (b) | 5,000,000 | 5,387,500 |
6.875%, due 2/1/26 | 69,733,000 | 72,522,320 |
News Corp. | ||
3.875%, due 5/15/29 (b) | 42,070,000 | 42,825,998 |
Quebecor Media, Inc. | ||
5.75%, due 1/15/23 | 27,505,000 | 29,487,835 |
Scripps Escrow, Inc. | ||
5.875%, due 7/15/27 (b) | 5,000,000 | 5,175,000 |
Sirius XM Radio, Inc. (b) | ||
4.00%, due 7/15/28 | 2,970,000 | 3,064,075 |
4.625%, due 7/15/24 | 5,000,000 | 5,118,750 |
5.00%, due 8/1/27 | 13,000,000 | 13,585,000 |
5.375%, due 7/15/26 | 6,000,000 | 6,195,120 |
5.50%, due 7/1/29 | 11,590,000 | 12,692,791 |
Sterling Entertainment Enterprises LLC | ||
10.25%, due 1/15/25 (c)(d)(e)(j) | 20,000,000 | 20,000,000 |
Townsquare Media, Inc. | ||
6.875%, due 2/1/26 (b) | 4,155,000 | 4,430,269 |
Videotron Ltd. | ||
5.375%, due 6/15/24 (b) | 17,850,000 | 19,678,020 |
Virgin Media Finance plc | ||
5.00%, due 7/15/30 (b) | 12,500,000 | 12,718,750 |
741,731,949 | ||
Metal Fabricate & Hardware 0.8% | ||
Advanced Drainage Systems, Inc. | ||
5.00%, due 9/30/27 (b) | 17,665,000 | 18,436,960 |
Grinding Media, Inc. | ||
7.375%, due 12/15/23 (b) | 67,820,000 | 68,669,785 |
Park-Ohio Industries, Inc. | ||
6.625%, due 4/15/27 | 13,040,000 | 13,264,288 |
100,371,033 | ||
Mining 2.7% | ||
Alcoa Nederland Holding BV | ||
7.00%, due 9/30/26 (b) | 20,510,000 | 21,407,313 |
Arconic Corp. | ||
6.00%, due 5/15/25 (b) | 8,695,000 | 9,194,963 |
Century Aluminum Co. | ||
7.50%, due 4/1/28 (b) | 23,145,000 | 24,707,287 |
Principal Amount | Value | |
Corporate Bonds | ||
Mining | ||
Compass Minerals International, Inc. (b) | ||
4.875%, due 7/15/24 | $ 7,000,000 | $ 7,253,750 |
6.75%, due 12/1/27 | 31,535,000 | 33,732,359 |
First Quantum Minerals Ltd. (b) | ||
6.875%, due 10/15/27 | 10,000,000 | 10,837,500 |
7.25%, due 4/1/23 | 25,027,000 | 25,496,256 |
7.50%, due 4/1/25 | 5,000,000 | 5,182,000 |
Hudbay Minerals, Inc. | ||
4.50%, due 4/1/26 (b) | 6,000,000 | 6,105,000 |
IAMGOLD Corp. | ||
5.75%, due 10/15/28 (b) | 28,000,000 | 28,770,000 |
Joseph T Ryerson & Son, Inc. | ||
8.50%, due 8/1/28 (b) | 7,800,000 | 8,619,000 |
Novelis Corp. (b) | ||
3.25%, due 11/15/26 (k) | 23,000,000 | 23,345,000 |
3.875%, due 8/15/31 (k) | 25,400,000 | 25,685,750 |
4.75%, due 1/30/30 | 28,745,000 | 30,607,963 |
5.875%, due 9/30/26 | 64,580,000 | 67,012,729 |
327,956,870 | ||
Miscellaneous—Manufacturing 0.8% | ||
Amsted Industries, Inc. (b) | ||
4.625%, due 5/15/30 | 2,100,000 | 2,163,000 |
5.625%, due 7/1/27 | 24,395,000 | 25,614,750 |
EnPro Industries, Inc. | ||
5.75%, due 10/15/26 | 21,784,000 | 22,873,200 |
FXI Holdings, Inc. (b) | ||
7.875%, due 11/1/24 | 2,445,000 | 2,506,125 |
12.25%, due 11/15/26 | 22,892,000 | 26,039,650 |
Hillenbrand, Inc. | ||
3.75%, due 3/1/31 | 5,395,000 | 5,489,359 |
5.00%, due 9/15/26 (g) | 3,000,000 | 3,336,000 |
5.75%, due 6/15/25 | 7,850,000 | 8,370,062 |
96,392,146 | ||
Office Furnishings 0.1% | ||
Interface, Inc. | ||
5.50%, due 12/1/28 (b) | 16,952,000 | 17,672,460 |
Oil & Gas 7.3% | ||
Apache Corp. | ||
4.625%, due 11/15/25 | 6,000,000 | 6,450,000 |
4.875%, due 11/15/27 | 13,500,000 | 14,509,935 |
Ascent Resources Utica Holdings LLC (b) | ||
7.00%, due 11/1/26 | 10,000,000 | 10,325,000 |
9.00%, due 11/1/27 | 11,295,000 | 15,474,150 |
California Resources Corp. | ||
7.125%, due 2/1/26 (b) | 11,000,000 | 11,248,270 |
Principal Amount | Value | |
Corporate Bonds | ||
Oil & Gas | ||
Callon Petroleum Co. | ||
6.125%, due 10/1/24 | $ 17,750,000 | $ 16,599,800 |
9.00%, due 4/1/25 (b) | 23,050,000 | 24,836,375 |
Centennial Resource Production LLC (b) | ||
5.375%, due 1/15/26 | 12,655,000 | 12,184,993 |
6.875%, due 4/1/27 | 21,950,000 | 21,565,875 |
Chevron USA, Inc. | ||
3.85%, due 1/15/28 | 5,560,000 | 6,368,632 |
3.90%, due 11/15/24 | 5,815,000 | 6,388,202 |
5.05%, due 11/15/44 | 17,415,000 | 23,954,527 |
5.25%, due 11/15/43 | 6,500,000 | 9,034,588 |
Colgate Energy Partners III LLC | ||
7.75%, due 2/15/26 (b) | 20,645,000 | 22,142,588 |
Comstock Resources, Inc. | ||
6.75%, due 3/1/29 (b) | 8,080,000 | 8,442,388 |
Continental Resources, Inc. | ||
4.50%, due 4/15/23 | 4,849,000 | 5,042,184 |
5.75%, due 1/15/31 (b) | 3,100,000 | 3,736,430 |
Encino Acquisition Partners Holdings LLC | ||
8.50%, due 5/1/28 (b) | 34,695,000 | 34,683,898 |
Endeavor Energy Resources LP | ||
6.625%, due 7/15/25 (b) | 7,025,000 | 7,428,938 |
EQT Corp. | ||
7.625%, due 2/1/25 (g) | 21,899,000 | 25,302,105 |
Gulfport Energy Operating Corp. | ||
8.00%, due 5/17/26 (b) | 30,637,302 | 32,643,126 |
Gulfport Energy Operating Corp. Escrow Claim Shares (f) | ||
6.00%, due 10/15/24 | 50,754,000 | 1,776,390 |
6.375%, due 5/15/25 | 24,354,000 | 852,390 |
6.375%, due 1/15/26 | 11,915,000 | 417,025 |
6.625%, due 5/1/23 | 17,072,000 | 597,520 |
Hilcorp Energy I LP (b) | ||
5.75%, due 2/1/29 | 4,000,000 | 4,072,840 |
6.00%, due 2/1/31 | 4,395,000 | 4,586,732 |
Laredo Petroleum, Inc. | ||
7.75%, due 7/31/29 (b) | 12,275,000 | 11,877,045 |
Marathon Oil Corp. | ||
4.40%, due 7/15/27 | 10,065,000 | 11,482,226 |
6.80%, due 3/15/32 | 5,000,000 | 6,593,009 |
Matador Resources Co. | ||
5.875%, due 9/15/26 | 13,500,000 | 13,722,345 |
Moss Creek Resources Holdings, Inc. | ||
7.50%, due 1/15/26 (b) | 12,465,000 | 11,156,175 |
Murphy Oil Corp. | ||
6.875%, due 8/15/24 | 9,000,000 | 9,157,500 |
Occidental Petroleum Corp. | ||
3.20%, due 8/15/26 | 12,000,000 | 11,910,000 |
3.40%, due 4/15/26 | 2,744,000 | 2,771,303 |
Principal Amount | Value | |
Corporate Bonds | ||
Oil & Gas | ||
Occidental Petroleum Corp. | ||
3.50%, due 8/15/29 | $ 5,000,000 | $ 4,987,500 |
5.55%, due 3/15/26 | 30,505,000 | 33,390,468 |
5.875%, due 9/1/25 | 6,000,000 | 6,651,840 |
6.125%, due 1/1/31 | 10,000,000 | 11,813,500 |
6.375%, due 9/1/28 | 6,635,000 | 7,729,775 |
6.45%, due 9/15/36 | 6,850,000 | 8,270,519 |
6.625%, due 9/1/30 | 13,270,000 | 16,189,400 |
6.95%, due 7/1/24 | 13,950,000 | 15,554,250 |
7.15%, due 5/15/28 | 4,000,000 | 4,620,000 |
Parkland Corp. (b) | ||
4.50%, due 10/1/29 | 14,985,000 | 15,415,144 |
5.875%, due 7/15/27 | 11,025,000 | 11,755,406 |
PBF Holding Co. LLC | ||
6.00%, due 2/15/28 | 27,835,000 | 14,535,437 |
7.25%, due 6/15/25 | 20,450,000 | 12,270,000 |
9.25%, due 5/15/25 (b) | 23,790,000 | 21,767,850 |
PDC Energy, Inc. | ||
6.125%, due 9/15/24 | 22,880,000 | 23,280,400 |
Range Resources Corp. | ||
5.875%, due 7/1/22 | 9,604,000 | 9,700,040 |
9.25%, due 2/1/26 | 36,000,000 | 39,060,360 |
Southwestern Energy Co. | ||
6.45%, due 1/23/25 (g) | 25,936,000 | 28,397,845 |
7.50%, due 4/1/26 | 27,545,000 | 29,054,741 |
7.75%, due 10/1/27 | 2,500,000 | 2,681,250 |
8.375%, due 9/15/28 | 3,000,000 | 3,345,600 |
Sunoco LP | ||
6.00%, due 4/15/27 | 19,965,000 | 20,838,469 |
Talos Production, Inc. | ||
12.00%, due 1/15/26 | 81,465,000 | 84,876,754 |
Transocean Guardian Ltd. | ||
5.875%, due 1/15/24 (b) | 8,780,350 | 8,319,162 |
Transocean Pontus Ltd. | ||
6.125%, due 8/1/25 (b) | 2,015,500 | 1,990,306 |
Transocean Poseidon Ltd. | ||
6.875%, due 2/1/27 (b) | 11,750,000 | 11,456,250 |
Transocean Sentry Ltd. | ||
5.375%, due 5/15/23 (b) | 11,487,151 | 10,826,640 |
Viper Energy Partners LP | ||
5.375%, due 11/1/27 (b) | 14,350,000 | 15,034,495 |
883,147,905 | ||
Oil & Gas Services 0.6% | ||
Bristow Group, Inc. | ||
6.875%, due 3/1/28 (b) | 21,350,000 | 21,920,045 |
Nine Energy Service, Inc. | ||
8.75%, due 11/1/23 (b) | 25,850,000 | 15,251,500 |
Principal Amount | Value | |
Corporate Bonds | ||
Oil & Gas Services | ||
TechnipFMC plc | ||
6.50%, due 2/1/26 (b) | $ 28,615,000 | $ 30,666,079 |
67,837,624 | ||
Packaging & Containers 0.5% | ||
ARD Finance SA | ||
6.50% (6.50% Cash or 7.25% PIK), due 6/30/27 (a)(b) | 19,985,000 | 21,082,176 |
Cascades USA, Inc. (b) | ||
5.125%, due 1/15/26 | 11,306,000 | 11,956,095 |
5.375%, due 1/15/28 | 22,385,000 | 23,560,212 |
Graphic Packaging International LLC | ||
3.50%, due 3/1/29 (b) | 5,000,000 | 4,967,868 |
61,566,351 | ||
Pharmaceuticals 2.4% | ||
Bausch Health Americas, Inc. (b) | ||
8.50%, due 1/31/27 | 11,915,000 | 12,881,962 |
9.25%, due 4/1/26 | 14,000,000 | 15,155,000 |
Bausch Health Cos., Inc. (b) | ||
5.00%, due 1/30/28 | 10,315,000 | 9,837,931 |
5.25%, due 1/30/30 | 2,390,000 | 2,249,372 |
5.25%, due 2/15/31 | 2,140,000 | 2,006,250 |
6.125%, due 4/15/25 | 17,446,000 | 17,805,824 |
6.25%, due 2/15/29 | 9,000,000 | 8,954,460 |
7.00%, due 1/15/28 | 7,000,000 | 7,350,000 |
7.25%, due 5/30/29 | 5,000,000 | 5,175,000 |
Cheplapharm Arzneimittel GmbH | ||
5.50%, due 1/15/28 (b) | 8,000,000 | 8,173,680 |
Endo DAC | ||
9.50%, due 7/31/27 (b) | 6,255,000 | 6,275,016 |
Jazz Securities DAC | ||
4.375%, due 1/15/29 (b) | 35,190,000 | 36,677,833 |
Organon & Co. (b) | ||
4.125%, due 4/30/28 | 31,900,000 | 32,710,579 |
5.125%, due 4/30/31 | 25,000,000 | 25,750,000 |
Owens & Minor, Inc. | ||
4.50%, due 3/31/29 (b) | 13,570,000 | 13,909,250 |
Par Pharmaceutical, Inc. | ||
7.50%, due 4/1/27 (b) | 26,701,000 | 27,235,020 |
Prestige Brands, Inc. (b) | ||
3.75%, due 4/1/31 | 15,915,000 | 15,735,956 |
5.125%, due 1/15/28 | 24,750,000 | 26,142,188 |
Vizient, Inc. | ||
6.25%, due 5/15/27 (b) | 14,300,000 | 14,961,375 |
288,986,696 | ||
Pipelines 5.3% | ||
ANR Pipeline Co. | ||
7.375%, due 2/15/24 | 2,555,000 | 2,965,886 |
Principal Amount | Value | |
Corporate Bonds | ||
Pipelines | ||
ANR Pipeline Co. | ||
9.625%, due 11/1/21 | $ 10,349,000 | $ 10,584,624 |
Antero Midstream Partners LP (b) | ||
5.375%, due 6/15/29 | 7,300,000 | 7,496,662 |
5.75%, due 1/15/28 | 8,000,000 | 8,360,000 |
Cheniere Energy Partners LP | ||
4.00%, due 3/1/31 (b) | 25,000,000 | 26,445,000 |
5.625%, due 10/1/26 | 15,530,000 | 16,036,433 |
CNX Midstream Partners LP | ||
6.50%, due 3/15/26 (b) | 22,036,000 | 22,779,715 |
DT Midstream, Inc. (b) | ||
4.125%, due 6/15/29 | 5,000,000 | 5,128,000 |
4.375%, due 6/15/31 | 11,195,000 | 11,614,812 |
Enable Midstream Partners LP | ||
3.90%, due 5/15/24 (g) | 3,000,000 | 3,203,714 |
4.40%, due 3/15/27 | 15,475,000 | 17,241,841 |
4.95%, due 5/15/28 | 16,610,000 | 19,191,779 |
EQM Midstream Partners LP (b) | ||
4.50%, due 1/15/29 | 7,705,000 | 7,797,691 |
4.75%, due 1/15/31 | 11,005,000 | 11,197,588 |
6.00%, due 7/1/25 | 12,250,000 | 13,341,230 |
6.50%, due 7/1/27 | 8,900,000 | 9,990,250 |
Genesis Energy LP | ||
6.25%, due 5/15/26 | 8,635,000 | 8,505,475 |
7.75%, due 2/1/28 | 12,390,000 | 12,516,378 |
8.00%, due 1/15/27 | 12,000,000 | 12,372,600 |
Harvest Midstream I LP | ||
7.50%, due 9/1/28 (b) | 22,840,000 | 24,422,355 |
Hess Midstream Operations LP | ||
5.625%, due 2/15/26 (b) | 1,000,000 | 1,040,000 |
Holly Energy Partners LP | ||
5.00%, due 2/1/28 (b) | 9,870,000 | 10,005,713 |
ITT Holdings LLC | ||
6.50%, due 8/1/29 (b) | 8,800,000 | 8,777,340 |
MPLX LP | ||
4.875%, due 12/1/24 | 12,000,000 | 13,407,964 |
New Fortress Energy, Inc. | ||
6.50%, due 9/30/26 (b) | 12,705,000 | 12,834,845 |
NGL Energy Operating LLC | ||
7.50%, due 2/1/26 (b) | 11,760,000 | 12,083,400 |
NGPL PipeCo LLC (b) | ||
4.875%, due 8/15/27 | 16,630,000 | 19,191,343 |
7.768%, due 12/15/37 | 10,630,000 | 15,525,571 |
NuStar Logistics LP | ||
5.75%, due 10/1/25 | 3,000,000 | 3,270,000 |
6.00%, due 6/1/26 | 15,000,000 | 16,200,000 |
Oasis Midstream Partners LP | ||
8.00%, due 4/1/29 (b) | 8,600,000 | 8,944,000 |
Principal Amount | Value | |
Corporate Bonds | ||
Pipelines | ||
PBF Logistics LP | ||
6.875%, due 5/15/23 | $ 6,050,000 | $ 5,860,938 |
Plains All American Pipeline LP | ||
Series B | ||
6.125%, due 11/15/22 (l)(m) | 44,328,000 | 39,618,150 |
Rockies Express Pipeline LLC (b) | ||
3.60%, due 5/15/25 | 7,000,000 | 7,147,350 |
4.80%, due 5/15/30 | 15,220,000 | 15,484,067 |
Ruby Pipeline LLC | ||
8.00%, due 4/1/22 (b)(g) | 54,771,242 | 51,909,139 |
Tallgrass Energy Partners LP (b) | ||
5.50%, due 9/15/24 | 15,667,000 | 15,865,344 |
6.00%, due 3/1/27 | 19,000,000 | 19,617,500 |
7.50%, due 10/1/25 | 8,500,000 | 9,222,500 |
Targa Resources Partners LP | ||
5.00%, due 1/15/28 | 6,320,000 | 6,645,606 |
5.875%, due 4/15/26 | 7,590,000 | 7,941,038 |
6.50%, due 7/15/27 | 10,116,000 | 10,988,505 |
TransMontaigne Partners LP | ||
6.125%, due 2/15/26 | 22,140,000 | 22,527,450 |
Western Midstream Operating LP | ||
3.95%, due 6/1/25 | 3,715,000 | 3,831,094 |
4.35%, due 2/1/25 (g) | 33,100,000 | 34,672,250 |
4.65%, due 7/1/26 | 5,000,000 | 5,359,750 |
4.75%, due 8/15/28 | 12,000,000 | 13,019,040 |
6.50%, due 2/1/50 (g) | 3,000,000 | 3,528,750 |
645,710,680 | ||
Real Estate 0.7% | ||
Howard Hughes Corp. (The) (b) | ||
4.125%, due 2/1/29 | 10,000,000 | 9,908,500 |
4.375%, due 2/1/31 | 10,155,000 | 10,128,800 |
Newmark Group, Inc. | ||
6.125%, due 11/15/23 | 43,914,000 | 47,598,824 |
Realogy Group LLC | ||
9.375%, due 4/1/27 (b) | 18,500,000 | 20,465,625 |
88,101,749 | ||
Real Estate Investment Trusts 3.1% | ||
CTR Partnership LP | ||
3.875%, due 6/30/28 (b) | 12,425,000 | 12,745,192 |
GLP Capital LP | ||
5.25%, due 6/1/25 | 10,000,000 | 11,293,000 |
5.30%, due 1/15/29 | 14,080,000 | 16,591,606 |
5.375%, due 11/1/23 | 6,000,000 | 6,546,300 |
5.375%, due 4/15/26 | 5,620,000 | 6,504,476 |
5.75%, due 6/1/28 | 7,700,000 | 9,250,318 |
Principal Amount | Value | |
Corporate Bonds | ||
Real Estate Investment Trusts | ||
Host Hotels & Resorts LP | ||
Series I | ||
3.50%, due 9/15/30 | $ 10,650,000 | $ 11,326,545 |
MGM Growth Properties Operating Partnership LP | ||
3.875%, due 2/15/29 (b) | 43,460,000 | 44,498,259 |
4.625%, due 6/15/25 (b) | 21,650,000 | 23,003,125 |
5.625%, due 5/1/24 | 63,960,000 | 69,225,827 |
5.75%, due 2/1/27 | 26,800,000 | 29,949,000 |
MPT Operating Partnership LP | ||
3.50%, due 3/15/31 | 5,000,000 | 5,129,900 |
4.625%, due 8/1/29 | 6,140,000 | 6,609,710 |
5.00%, due 10/15/27 | 23,425,000 | 24,796,300 |
5.25%, due 8/1/26 | 5,500,000 | 5,638,105 |
RHP Hotel Properties LP | ||
4.50%, due 2/15/29 (b) | 10,000,000 | 10,100,000 |
4.75%, due 10/15/27 | 28,050,000 | 29,013,605 |
SBA Communications Corp. | ||
3.125%, due 2/1/29 (b) | 18,000,000 | 17,677,755 |
3.875%, due 2/15/27 | 10,000,000 | 10,312,500 |
VICI Properties LP (b) | ||
3.75%, due 2/15/27 | 12,987,000 | 13,360,376 |
4.125%, due 8/15/30 | 7,080,000 | 7,446,319 |
XHR LP | ||
4.875%, due 6/1/29 (b) | 5,885,000 | 6,014,117 |
377,032,335 | ||
Retail 3.5% | ||
1011778 B.C. Unlimited Liability Co. (b) | ||
3.50%, due 2/15/29 | 10,655,000 | 10,596,504 |
3.875%, due 1/15/28 | 18,435,000 | 18,592,619 |
4.00%, due 10/15/30 | 47,877,000 | 47,749,647 |
Asbury Automotive Group, Inc. | ||
4.50%, due 3/1/28 | 23,137,000 | 23,975,716 |
4.75%, due 3/1/30 | 15,525,000 | 16,437,094 |
CEC Entertainment LLC | ||
6.75%, due 5/1/26 (b) | 12,950,000 | 12,952,590 |
Dave & Buster's, Inc. | ||
7.625%, due 11/1/25 (b) | 5,275,000 | 5,582,896 |
Group 1 Automotive, Inc. | ||
4.00%, due 8/15/28 (b) | 10,000,000 | 10,266,500 |
Ken Garff Automotive LLC | ||
4.875%, due 9/15/28 (b) | 24,000,000 | 24,630,000 |
KFC Holding Co. | ||
4.75%, due 6/1/27 (b) | 12,287,000 | 12,839,915 |
LCM Investments Holdings II LLC | ||
4.875%, due 5/1/29 (b) | 28,865,000 | 29,538,420 |
Lithia Motors, Inc. (b) | ||
3.875%, due 6/1/29 | 10,000,000 | 10,530,200 |
Principal Amount | Value | |
Corporate Bonds | ||
Retail | ||
Lithia Motors, Inc. (b) | ||
4.375%, due 1/15/31 | $ 5,000,000 | $ 5,453,000 |
Murphy Oil USA, Inc. | ||
4.75%, due 9/15/29 | 7,500,000 | 7,950,000 |
5.625%, due 5/1/27 | 10,417,000 | 10,976,914 |
NMG Holding Co., Inc. | ||
7.125%, due 4/1/26 (b) | 59,985,000 | 64,032,788 |
Ultra Resources, Inc. Escrow Claim Shares | ||
6.875%, due 4/15/22 (c)(d)(e)(f) | 28,880,000 | — |
Yum! Brands, Inc. | ||
3.625%, due 3/15/31 | 34,370,000 | 35,057,400 |
4.625%, due 1/31/32 | 36,000,000 | 38,655,000 |
4.75%, due 1/15/30 (b) | 31,735,000 | 34,749,825 |
7.75%, due 4/1/25 (b) | 4,500,000 | 4,865,625 |
425,432,653 | ||
Software 4.2% | ||
ACI Worldwide, Inc. | ||
5.75%, due 8/15/26 (b) | 7,500,000 | 7,846,875 |
Ascend Learning LLC | ||
6.875%, due 8/1/25 (b) | 27,000,000 | 27,506,250 |
BY Crown Parent LLC (b) | ||
4.25%, due 1/31/26 | 13,200,000 | 13,860,000 |
7.375%, due 10/15/24 | 30,140,000 | 30,667,450 |
Camelot Finance SA | ||
4.50%, due 11/1/26 (b) | 15,990,000 | 16,669,575 |
CDK Global, Inc. | ||
4.875%, due 6/1/27 | 8,570,000 | 9,026,695 |
5.25%, due 5/15/29 (b) | 5,000,000 | 5,437,500 |
Change Healthcare Holdings LLC | ||
5.75%, due 3/1/25 (b) | 13,500,000 | 13,651,875 |
Clarivate Science Holdings Corp. (b) | ||
3.875%, due 6/30/28 | 18,535,000 | 18,688,006 |
4.875%, due 6/30/29 | 27,900,000 | 28,099,206 |
Fair Isaac Corp. | ||
5.25%, due 5/15/26 (b) | 12,250,000 | 13,934,375 |
MSCI, Inc. (b) | ||
3.625%, due 9/1/30 | 32,125,000 | 33,771,406 |
3.625%, due 11/1/31 | 30,375,000 | 32,109,413 |
3.875%, due 2/15/31 | 44,255,000 | 47,020,938 |
4.00%, due 11/15/29 | 34,330,000 | 36,604,363 |
5.375%, due 5/15/27 | 23,085,000 | 24,498,956 |
Open Text Corp. (b) | ||
3.875%, due 2/15/28 | 17,385,000 | 17,950,013 |
5.875%, due 6/1/26 | 30,090,000 | 31,070,934 |
Open Text Holdings, Inc. | ||
4.125%, due 2/15/30 (b) | 26,672,000 | 27,538,840 |
Principal Amount | Value | |
Corporate Bonds | ||
Software | ||
PTC, Inc. (b) | ||
3.625%, due 2/15/25 | $ 11,000,000 | $ 11,302,500 |
4.00%, due 2/15/28 | 23,759,000 | 24,560,866 |
SS&C Technologies, Inc. | ||
5.50%, due 9/30/27 (b) | 22,995,000 | 24,336,758 |
Veritas US, Inc. | ||
7.50%, due 9/1/25 (b) | 10,000,000 | 10,350,000 |
506,502,794 | ||
Telecommunications 4.9% | ||
Altice France SA | ||
7.375%, due 5/1/26 (b) | 12,573,000 | 13,075,920 |
CommScope Technologies LLC | ||
6.00%, due 6/15/25 (b) | 3,000,000 | 3,045,000 |
CommScope, Inc. (b) | ||
7.125%, due 7/1/28 | 7,250,000 | 7,820,938 |
8.25%, due 3/1/27 | 27,815,000 | 29,449,131 |
Connect Finco SARL | ||
6.75%, due 10/1/26 (b) | 54,590,000 | 57,387,738 |
Hughes Satellite Systems Corp. | ||
5.25%, due 8/1/26 | 18,000,000 | 20,115,000 |
6.625%, due 8/1/26 | 19,275,000 | 21,660,281 |
Level 3 Financing, Inc. | ||
3.75%, due 7/15/29 (b) | 2,000,000 | 1,960,000 |
5.375%, due 5/1/25 | 31,477,000 | 32,163,199 |
Lumen Technologies, Inc. | ||
Series T | ||
5.80%, due 3/15/22 | 28,940,000 | 29,694,900 |
QualityTech LP | ||
3.875%, due 10/1/28 (b) | 19,000,000 | 20,352,230 |
Sprint Capital Corp. | ||
6.875%, due 11/15/28 | 104,520,000 | 134,842,297 |
Sprint Corp. | ||
7.25%, due 9/15/21 | 4,185,000 | 4,212,203 |
7.875%, due 9/15/23 | 46,900,000 | 53,062,660 |
Switch Ltd. | ||
3.75%, due 9/15/28 (b) | 18,195,000 | 18,613,030 |
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | 9,690,000 | 9,691,986 |
2.875%, due 2/15/31 | 34,390,000 | 34,581,552 |
4.00%, due 4/15/22 | 3,000,000 | 3,051,570 |
4.50%, due 2/1/26 | 4,000,000 | 4,093,000 |
4.50%, due 4/15/50 | 15,000,000 | 18,349,650 |
4.75%, due 2/1/28 | 31,435,000 | 33,416,977 |
5.375%, due 4/15/27 | 33,000,000 | 34,938,750 |
Vmed O2 UK Financing I plc | ||
4.75%, due 7/15/31 (b) | 8,130,000 | 8,302,437 |
593,880,449 |
Principal Amount | Value | |
Corporate Bonds | ||
Toys, Games & Hobbies 0.3% | ||
Mattel, Inc. (b) | ||
3.375%, due 4/1/26 | $ 6,600,000 | $ 6,865,320 |
3.75%, due 4/1/29 | 10,000,000 | 10,567,900 |
5.875%, due 12/15/27 | 19,775,000 | 21,678,344 |
39,111,564 | ||
Transportation 0.5% | ||
Seaspan Corp. | ||
5.50%, due 8/1/29 (b) | 10,500,000 | 10,470,705 |
Teekay Corp. | ||
9.25%, due 11/15/22 (b) | 6,000,000 | 6,202,500 |
Watco Cos. LLC | ||
6.50%, due 6/15/27 (b) | 42,800,000 | 45,760,048 |
62,433,253 | ||
Total Corporate Bonds (Cost $10,147,228,850) | 10,758,472,474 | |
Loan Assignments 2.9% | ||
Automobile 0.2% | ||
Dealer Tire LLC | ||
Term Loan B1 4.342%-4.355% | ||
(1 Month LIBOR + 4.25%), due 1/1/38 (n) | 17,222,613 | 17,183,139 |
Beverage, Food & Tobacco 0.1% | ||
United Natural Foods, Inc. | ||
Initial Term Loan | ||
3.592% (1 Month LIBOR + 3.50%), due 10/22/25 (n) | 16,027,634 | 15,967,531 |
Containers, Packaging & Glass 0.0% ‡ | ||
Neenah Foundry Co. | ||
Term Loan | ||
10.00% (2 Month LIBOR + 9.00%), due 12/13/22 (n) | 3,983,586 | 3,585,227 |
Electronics 0.1% | ||
Camelot U.S. Acquisition 1 Co. (n) | ||
Initial Term Loan | ||
3.092% (1 Month LIBOR + 3.00%), due 10/30/26 | 4,894,603 | 4,848,716 |
Amendment No. 2 Incremental Term Loan | ||
4.00% (1 Month LIBOR + 3.00%), due 10/30/26 | 4,975,000 | 4,947,016 |
9,795,732 | ||
Finance 0.2% | ||
BY Crown Parent LLC | ||
Initial Term Loan B1 | ||
4.00% (1 Month LIBOR + 3.00%), due 2/2/26 (n) | 14,768,904 | 14,682,757 |
Principal Amount | Value | |
Loan Assignments | ||
Finance | ||
Jefferies Finance LLC | ||
Closing Date Term Loan | ||
5.25% (3 Month LIBOR + 2.00%), due 6/3/26 (n) | $ 9,800,101 | $ 9,748,650 |
24,431,407 | ||
Healthcare, Education & Childcare 0.5% | ||
AHP Health Partners, Inc. | ||
Term Loan B1 | ||
4.75% (1 Month LIBOR + 3.75%), due 6/30/25 (n) | 10,000,000 | 10,008,750 |
Ascend Learning LLC | ||
Initial Term Loan | ||
4.00% (1 Month LIBOR + 3.00%), due 7/12/24 (n) | 5,865,430 | 5,852,861 |
Bausch Health Cos., Inc. | ||
First Incremental Term Loan | ||
2.854% (1 Month LIBOR + 2.75%), due 11/27/25 (n) | 10,074,417 | 9,973,672 |
LifePoint Health, Inc. | ||
First Lien Term Loan B | ||
3.842% (1 Month LIBOR + 3.75%), due 11/16/25 (n) | 20,153,924 | 19,974,776 |
Organon & Co. | ||
Dollar Term Loan | ||
3.50% (6 Month LIBOR + 3.00%), due 6/2/28 (n) | 11,000,000 | 10,967,341 |
56,777,400 | ||
Insurance 0.1% | ||
USI, Inc. | ||
2017 New Term Loan | ||
3.147% (3 Month LIBOR + 3.00%), due 5/16/24 (n) | 14,446,165 | 14,277,622 |
Leisure, Amusement, Motion Pictures & Entertainment 0.0% ‡ | ||
NASCAR Holdings LLC | ||
Initial Term Loan | ||
2.842% (1 Month LIBOR + 2.75%), due 10/19/26 (n) | 4,646,277 | 4,606,203 |
Manufacturing 0.1% | ||
Adient US LLC | ||
Term Loan B1 | ||
3.592% (1 Month LIBOR + 3.50%), due 4/10/28 (n) | 16,000,000 | 15,976,672 |
Media 0.2% | ||
DirectV Financing LLC | ||
Term Loan | ||
TBD, due 8/2/27 | 17,000,000 | 16,961,750 |
Oil & Gas 0.2% | ||
Ascent Resources Utica Holdings LLC | ||
Second Lien Term Loan | ||
10.00% (3 Month LIBOR + 9.00%), due 11/1/25 (n) | 9,011,000 | 9,855,781 |
Principal Amount | Value | |
Loan Assignments | ||
Oil & Gas | ||
PetroQuest Energy LLC (c)(d)(e) | ||
Term Loan | ||
8.50% (8.50% PIK), (1 Month LIBOR + 7.50%), due 11/8/23 (n) | $ 18,705,310 | $ 14,964,248 |
2020 Term Loan | ||
8.50% (8.50% PIK), due 9/19/26 | 1,932,999 | 1,932,999 |
26,753,028 | ||
Personal & Nondurable Consumer Products 0.7% | ||
Great Outdoors Group LLC | ||
Term Loan B1 | ||
5.00% (3 Month LIBOR + 4.25%), due 3/6/28 (n) | 79,600,000 | 79,600,000 |
Services: Business 0.1% | ||
Icon plc (n) | ||
Lux Term Loan | ||
3.00% (3 Month LIBOR + 2.50%), due 7/1/28 | 8,005,440 | 7,985,426 |
U.S. Term Loan | ||
3.00% (3 Month LIBOR + 2.50%), due 7/1/28 | 1,994,560 | 1,989,574 |
9,975,000 | ||
Utilities 0.4% | ||
PG&E Corp. | ||
Term Loan | ||
3.50% (3 Month LIBOR + 3.00%), due 6/23/25 (n) | 53,460,000 | 52,034,382 |
Total Loan Assignments (Cost $350,174,382) | 347,925,093 | |
Total Long-Term Bonds (Cost $10,602,775,554) | 11,220,293,942 | |
Shares | ||
Common Stocks 1.8% | ||
Commercial Services & Supplies 0.1% | ||
ATD New Holdings, Inc. (c)(d)(o) | 142,545 | 8,410,155 |
Electric Utilities 0.0% ‡ | ||
Keycon Power Holdings LLC (c)(d)(e)(o) | 38,880 | 389 |
Electrical Equipment 0.3% | ||
Energy Technologies, Inc. (c)(d)(e)(o) | 16,724 | 33,029,900 |
Hotels, Restaurants & Leisure 0.0% ‡ | ||
Carlson Travel, Inc. (c)(e)(j)(o) | 25,452 | — |
Shares | Value | |
Common Stocks | ||
Independent Power and Renewable Electricity Producers 0.3% | ||
GenOn Energy, Inc. (c)(j) | 386,241 | $ 40,555,305 |
Metals & Mining 0.1% | ||
Franco-Nevada Corp. | 55,000 | 8,795,050 |
Neenah Enterprises, Inc. (c)(d)(e)(j)(o) | 720,961 | 7,584,510 |
16,379,560 | ||
Oil, Gas & Consumable Fuels 1.0% | ||
California Resources Corp. (o) | 185,301 | 5,208,811 |
Gulfport Energy Operating Corp. (d)(o) | 1,150,446 | 78,575,462 |
PetroQuest Energy, Inc. (c)(d)(e)(o) | 28,470,874 | — |
Talos Energy, Inc. (o) | 2,074,193 | 23,936,187 |
Titan Energy LLC (c)(d)(e)(o) | 91,174 | — |
Whiting Petroleum Corp. (o) | 297,340 | 13,945,246 |
121,665,706 | ||
Software 0.0% ‡ | ||
ASG warrant Corp. (c)(d)(e)(o) | 12,502 | — |
Total Common Stocks (Cost $258,369,019) | 220,041,015 | |
Preferred Stocks 0.4% | ||
Electrical Equipment 0.2% | ||
Energy Technologies Ltd. (c)(d)(e)(o) | 37,258 | 29,992,690 |
Oil, Gas & Consumable Fuels 0.2% | ||
Gulfport Energy Operating Corp. 10.00% (d)(o) | 3,905 | 18,499,937 |
Total Preferred Stocks (Cost $53,376,160) | 48,492,627 | |
Exchange-Traded Funds 0.6% | ||
iShares Gold Trust (o) | 929,500 | 32,123,520 |
iShares iBoxx High Yield Corporate Bond ETF | 65,000 | 5,709,600 |
SPDR Gold Shares (o) | 150,336 | 25,530,059 |
Vanguard Value ETF | 36,762 | 5,104,404 |
Total Exchange-Traded Funds (Cost $53,843,151) | 68,467,583 | |
Number of Warrants | Value | ||
Warrant 0.0% ‡ | |||
Oil, Gas & Consumable Fuels 0.0% ‡ | |||
California Resources Corp. | |||
Expires 10/27/24 (o) | 36,093 | $ 195,985 | |
Total Warrant (Cost $14,437) | 195,985 | ||
Total Investments (Cost $10,968,378,321) | 95.6% | 11,557,491,152 | |
Other Assets, Less Liabilities | 4.4 | 534,639,308 | |
Net Assets | 100.0% | $ 12,092,130,460 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
(b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(c) | Fair valued security—Represents fair value as measured in good faith under procedures approved by the Board of Trustees. As of July 31, 2021, the total market value was $169,925,596, which represented 1.4% of the Fund’s net assets. |
(d) | Illiquid security—As of July 31, 2021, the total market value deemed illiquid under procedures approved by the Board of Trustees was $235,232,676, which represented 1.9% of the Fund’s net assets. |
(e) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(f) | Issue in non-accrual status. |
(g) | Step coupon—Rate shown was the rate in effect as of July 31, 2021. |
(h) | Issue in default. |
(i) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
(j) | Restricted security. |
(k) | Delayed delivery security. |
(l) | Fixed to floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(m) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(n) | Floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(o) | Non-income producing security. |
Abbreviation(s): |
ETF—Exchange-Traded Fund |
LIBOR—London Interbank Offered Rate |
SPDR—Standard & Poor’s Depositary Receipt |
TBD—To Be Determined |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Convertible Bonds | $ — | $ 113,896,375 | $ — | $ 113,896,375 | |||
Corporate Bonds | — | 10,725,017,074 | 33,455,400 | 10,758,472,474 | |||
Loan Assignments | — | 331,027,846 | 16,897,247 | 347,925,093 | |||
Total Long-Term Bonds | — | 11,169,941,295 | 50,352,647 | 11,220,293,942 | |||
Common Stocks | 130,460,756 | 48,965,460 | 40,614,799 | 220,041,015 | |||
Preferred Stocks | — | 18,499,937 | 29,992,690 | 48,492,627 | |||
Exchange-Traded Funds | 68,467,583 | — | — | 68,467,583 | |||
Warrant | 195,985 | — | — | 195,985 | |||
Total Investments in Securities | $ 199,124,324 | $ 11,237,406,692 | $ 120,960,136 | $ 11,557,491,152 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
Investments in Securities | Balance as of October 31, 2020 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers in to Level 3 | Transfers out of Level 3 | Balance as of July 31, 2021 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held as of July 31, 2021 | |||||||||
Long-Term Bonds | |||||||||||||||||||
Corporate Bonds | $32,017,390 | $166,852 | $(37,348,307) | $38,619,465 | $— | $— | $— | $— | $33,455,400 | $38,619,465 | |||||||||
Loan Assignments | 21,944,560 | — | — | (586,520) | 1,300,327 | — | 1,812,750 | (7,573,870) | 16,897,247 | (586,520) | |||||||||
Common Stocks | 80,034,187 | — | 2,091,567 | 22,278,589 | 110,502 | (2,105,138) | 3,651 | (61,798,559) | 40,614,799 | 22,278,589 | |||||||||
Preferred Stock | 33,565,732 | — | — | (3,573,042) | — | — | — | — | 29,992,690 | (3,573,042) | |||||||||
Total | $167,561,869 | $166,852 | $(35,256,740) | $56,738,492 | $1,410,829 | $(2,105,138) | $1,816,401 | $(69,372,429) | $120,960,136 | $56,738,492 |
As of July 31, 2021, a Common Stock with a market value of $3,651 transferred from Level 2 to Level 3 as the fair value for this Common Stock utilized significant unobservable inputs. As of October 31, 2020, the fair value obtained for this Common Stock utilized significant other observable inputs.
As of July 31, 2021, a Loan Assignment with a market value of $1,812,750 transferred from Level 2 to Level 3 as the fair value for this Loan Assignment utilized significant unobservable inputs. As of October 31, 2020, the fair value obtained for this Loan Assignment utilized significant other observable inputs.
As of July 31, 2021, a Common Stock with a market value of $61,798,559 transferred from Level 3 to Level 2 as the fair value for this Common Stock utilized significant unobservable inputs. As of October 31, 2020, the fair value obtained for this Common Stock utilized significant other observable inputs.
As of July 31, 2021, a Loan Assignment with a market value of $7,573,870 transferred from Level 3 to Level 2 as the fair value for this Loan Assignment utilized significant unobservable inputs. As of October 31, 2020, the fair value obtained for this Loan Assignment utilized significant other observable inputs.
MainStay MacKay International Equity Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Shares | Value | |
Common Stocks 96.1% | ||
Brazil 0.8% | ||
Notre Dame Intermedica Participacoes SA (Health Care Providers & Services) | 220,997 | $ 3,394,568 |
Canada 1.6% | ||
Constellation Software, Inc. (Software) | 4,398 | 7,044,802 |
China 4.1% | ||
Tencent Holdings Ltd. (Interactive Media & Services) | 283,658 | 17,484,180 |
Denmark 4.3% | ||
Chr Hansen Holding A/S (Chemicals) | 76,640 | 6,892,834 |
Novo Nordisk A/S, Class B (Pharmaceuticals) | 122,774 | 11,355,273 |
18,248,107 | ||
France 12.2% | ||
BioMerieux (Health Care Equipment & Supplies) | 86,161 | 10,277,063 |
Dassault Systemes SE (Software) | 74,267 | 4,098,376 |
Edenred (IT Services) | 163,119 | 9,477,626 |
Sartorius Stedim Biotech (Life Sciences Tools & Services) | 25,801 | 14,730,878 |
Teleperformance (Professional Services) | 32,113 | 13,546,243 |
52,130,186 | ||
Germany 10.5% | ||
Carl Zeiss Meditec AG (Health Care Equipment & Supplies) | 21,460 | 4,780,811 |
Deutsche Boerse AG (Capital Markets) | 65,264 | 10,896,783 |
SAP SE (Software) | 82,166 | 11,778,204 |
Scout24 AG (Interactive Media & Services) (a) | 117,834 | 10,094,954 |
Symrise AG (Chemicals) | 25,963 | 3,828,267 |
Zalando SE (Internet & Direct Marketing Retail) (a)(b) | 31,982 | 3,557,128 |
44,936,147 | ||
India 4.5% | ||
HDFC Bank Ltd. (Banks) | 620,865 | 11,901,268 |
Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | 222,564 | 7,301,110 |
19,202,378 | ||
Ireland 2.1% | ||
ICON plc (Life Sciences Tools & Services) (b) | 36,882 | 8,972,284 |
Israel 1.1% | ||
NICE Ltd., Sponsored ADR (Software) (b) | 16,959 | 4,725,625 |
Italy 1.1% | ||
Reply SpA (IT Services) | 27,319 | 4,883,760 |
Japan 10.2% | ||
CyberAgent, Inc. (Media) | 653,600 | 11,701,111 |
JMDC, Inc. (Health Care Technology) (b) | 39,400 | 2,011,212 |
Shares | Value | |
Common Stocks | ||
Japan | ||
Menicon Co. Ltd. (Health Care Equipment & Supplies) | 59,800 | $ 4,355,335 |
Relo Group, Inc. (Real Estate Management & Development) | 441,900 | 9,695,577 |
SMS Co. Ltd. (Professional Services) | 239,600 | 6,694,080 |
TechnoPro Holdings, Inc. (Professional Services) | 358,800 | 8,915,626 |
43,372,941 | ||
Mexico 1.4% | ||
Regional SAB de CV (Banks) | 960,080 | 5,918,313 |
Netherlands 6.3% | ||
Koninklijke DSM NV (Chemicals) | 56,948 | 11,480,898 |
Koninklijke Philips NV (Health Care Equipment & Supplies) | 330,894 | 15,265,220 |
26,746,118 | ||
Spain 2.7% | ||
Industria de Diseno Textil SA (Specialty Retail) | 340,640 | 11,552,767 |
Sweden 2.2% | ||
Hexagon AB, Class B (Electronic Equipment, Instruments & Components) | 273,273 | 4,523,651 |
MIPS AB (Leisure Products) | 44,473 | 4,696,106 |
9,219,757 | ||
Switzerland 4.7% | ||
Belimo Holding AG (Registered) (Building Products) | 11,805 | 6,098,957 |
Lonza Group AG (Registered) (Life Sciences Tools & Services) | 17,886 | 13,924,167 |
20,023,124 | ||
Taiwan 2.9% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Semiconductors & Semiconductor Equipment) | 106,728 | 12,448,754 |
United Kingdom 16.2% | ||
Diageo plc (Beverages) | 245,298 | 12,174,127 |
Experian plc (Professional Services) | 299,234 | 13,176,829 |
HomeServe plc (Commercial Services & Supplies) | 523,546 | 6,804,266 |
Linde plc (Chemicals) | 35,953 | 11,051,593 |
Prudential plc (Insurance) | 711,136 | 13,408,718 |
St James's Place plc (Capital Markets) | 572,555 | 12,630,163 |
69,245,696 | ||
United States 7.2% | ||
Accenture plc, Class A (IT Services) | 12,934 | 4,108,873 |
Globant SA (IT Services) (b) | 17,070 | 4,082,462 |
STERIS plc (Health Care Equipment & Supplies) | 45,637 | 9,946,584 |
TE Connectivity Ltd. (Electronic Equipment, Instruments & Components) | 86,264 | 12,721,352 |
30,859,271 | ||
Total Common Stocks (Cost $312,606,703) | 410,408,778 |
Shares | Value | ||
Short-Term Investment 0.3% | |||
Affiliated Investment Company 0.3% | |||
United States 0.3% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (c) | 1,306,675 | $ 1,306,675 | |
Total Short-Term Investment (Cost $1,306,675) | 1,306,675 | ||
Total Investments (Cost $313,913,378) | 96.4% | 411,715,453 | |
Other Assets, Less Liabilities | 3.6 | 15,204,784 | |
Net Assets | 100.0% | $ 426,920,237 |
† | Percentages indicated are based on Fund net assets. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Non-income producing security. |
(c) | Current yield as of July 31, 2021. |
Abbreviation(s): |
ADR—American Depositary Receipt |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Common Stocks | $ 410,408,778 | $ — | $ — | $ 410,408,778 | |||
Short-Term Investment | |||||||
Affiliated Investment Company | 1,306,675 | — | — | 1,306,675 | |||
Total Investments in Securities | $ 411,715,453 | $ — | $ — | $ 411,715,453 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay MacKay Tax Free Bond Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Municipal Bonds 95.0% | ||
Long-Term Municipal Bonds 90.2% | ||
Alabama 1.3% | ||
City of Birmingham AL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/43 (a) | $ 2,650,000 | $ 2,856,417 |
County of Jefferson AL, Sewer, Revenue Bonds, Sub. Lien | ||
Series D | ||
6.00%, due 10/1/42 | 5,910,000 | 6,866,524 |
Health Care Authority of the City of Huntsville (The), HH Health System, Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/45 | 20,370,000 | 24,054,012 |
Houston County Health Care Authority, Southeast Alabama Medical Centre, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | 1,000,000 | 1,176,162 |
Lower Alabama Gas District (The), Revenue Bonds | ||
4.00%, due 12/1/50 (b) | 750,000 | 856,561 |
Series A | ||
5.00%, due 9/1/46 | 10,000,000 | 15,428,570 |
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/28 | 2,400,000 | 2,910,803 |
Series A | ||
4.00%, due 11/1/51 (b) | 38,500,000 | 46,420,936 |
University of South Alabama, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 11/1/35 | 2,000,000 | 2,293,849 |
Insured: AGM | ||
5.00%, due 11/1/29 | 1,110,000 | 1,341,213 |
Insured: AGM | ||
5.00%, due 11/1/30 | 2,000,000 | 2,412,712 |
Water Works Board of the City of Birmingham (The), Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/32 | 6,140,000 | 7,602,091 |
114,219,850 | ||
Alaska 0.0% ‡ | ||
Alaska Industrial Development & Export Authority, Greater Fairbanks Community Hospital Foundation Obligated Group, Revenue Bonds | ||
5.00%, due 4/1/32 | 3,550,000 | 3,769,486 |
Arizona 0.7% | ||
Arizona Board of Regents, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/39 | 2,000,000 | 2,635,610 |
Series A | ||
5.00%, due 7/1/43 | 3,480,000 | 4,546,223 |
Arizona Health Facilities Authority, Phoenix Children's Hospital, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/42 | 1,000,000 | 1,023,692 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Arizona | ||
Arizona Industrial Development Authority, Provident Group, NCCU Properties LLC, Central University Project, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 6/1/44 | $ 940,000 | $ 1,080,928 |
Arizona Industrial Development Authority, Phoenix Children's Hospital, Revenue Bonds | ||
Series A | ||
4.00%, due 2/1/50 | 18,850,000 | 22,043,162 |
Maricopa County Industrial Development Authority, Banner Health Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/41 | 11,010,000 | 12,699,264 |
Series E | ||
4.00%, due 1/1/45 | 7,000,000 | 8,327,862 |
Maricopa County Unified School District No. 090 Saddle Mountain, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 7/1/35 | 7,175,000 | 8,598,549 |
60,955,290 | ||
Arkansas 0.4% | ||
County of Pulaski AR, Arkansas Children's Hospital, Revenue Bonds | ||
5.00%, due 3/1/34 | 2,000,000 | 2,373,252 |
Pulaski County Special School District, Arkansas Construction Bonds, Limited General Obligation | ||
Insured: State Aid Withholding | ||
4.00%, due 2/1/48 | 15,500,000 | 16,099,107 |
Springdale Public Facilities Board, Arkansas Children's Northwest, Inc., Revenue Bonds | ||
5.00%, due 3/1/34 | 2,890,000 | 3,429,350 |
Springdale School District No. 50, Limited General Obligation | ||
Insured: State Aid Withholding | ||
4.00%, due 6/1/36 | 2,500,000 | 2,575,032 |
Insured: State Aid Withholding | ||
4.00%, due 6/1/40 | 10,400,000 | 10,690,625 |
University of Arkansas, UALR Campus, Revenue Bonds | ||
5.00%, due 10/1/29 | 1,315,000 | 1,605,369 |
5.00%, due 10/1/30 | 1,110,000 | 1,353,972 |
5.00%, due 10/1/31 | 1,205,000 | 1,468,695 |
39,595,402 | ||
California 12.9% | ||
Alta Loma School District, Unlimited General Obligation | ||
Series C | ||
4.00%, due 8/1/45 | 4,500,000 | 5,402,602 |
Series B | ||
5.00%, due 8/1/44 | 4,000,000 | 4,982,144 |
Antelope Valley Community College District, Election 2016, Unlimited General Obligation | ||
Series A | ||
4.50%, due 8/1/38 | 11,500,000 | 13,712,536 |
Bay Area Toll Authority, Revenue Bonds | ||
Series S-H | ||
5.00%, due 4/1/44 | 2,615,000 | 3,314,580 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
California Health Facilities Financing Authority, Providence St. Joseph Health Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/35 | $ 1,230,000 | $ 1,410,791 |
California Health Facilities Financing Authority, CommonSpirit Health Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/45 | 6,500,000 | 7,723,887 |
California Health Facilities Financing Authority, City of Hope Obligated Group, Revenue Bonds | ||
4.00%, due 11/15/45 | 5,000,000 | 5,903,118 |
5.00%, due 11/15/49 | 20,000,000 | 24,032,930 |
California Health Facilities Financing Authority, Sutter Health Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/34 | 5,000,000 | 6,004,109 |
California Infrastructure and Economic Development Bank, California State Teachers' Retirement System, Green Bond, Revenue Bonds | ||
5.00%, due 8/1/49 | 10,000,000 | 12,640,814 |
California Municipal Finance Authority, Southern California Institute of Architecture Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 405,000 | 441,218 |
5.00%, due 12/1/24 | 425,000 | 477,500 |
5.00%, due 12/1/25 | 450,000 | 519,940 |
5.00%, due 12/1/26 | 470,000 | 556,477 |
5.00%, due 12/1/27 | 495,000 | 597,703 |
5.00%, due 12/1/28 | 520,000 | 623,196 |
California Municipal Finance Authority, CHF-Davis I LLC, West Village Student Housing Project, Revenue Bonds | ||
5.00%, due 5/15/32 | 1,570,000 | 2,002,749 |
Insured: BAM | ||
5.00%, due 5/15/32 | 1,500,000 | 1,918,839 |
Insured: BAM | ||
5.00%, due 5/15/36 | 4,400,000 | 5,606,658 |
Insured: BAM | ||
5.00%, due 5/15/39 | 9,815,000 | 12,436,327 |
Insured: BAM | ||
5.00%, due 5/15/43 | 11,750,000 | 14,779,581 |
California School Facilities Financing Authority, Azusa Unified School District, Revenue Bonds | ||
Insured: AGM | ||
(zero coupon), due 8/1/49 | 16,000,000 | 5,478,402 |
California State University, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/44 | 26,470,000 | 34,470,438 |
Chino Valley Unified School District, Election 2016, Limited General Obligation | ||
Series B | ||
4.00%, due 8/1/45 | 14,310,000 | 17,206,831 |
Chula Vista Elementary School District, Revenue Bonds | ||
(zero coupon), due 8/1/23 | 5,000,000 | 4,971,905 |
City of Escondido CA, Unlimited General Obligation | ||
5.00%, due 9/1/36 | 5,000,000 | 5,872,033 |
City of Long Beach CA, Airport System, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/30 | 5,000,000 | 5,018,051 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
City of Los Angeles CA, Department of Airports, Revenue Bonds, Senior Lien (c) | ||
Series C | ||
4.00%, due 5/15/50 | $ 15,000,000 | $ 17,593,762 |
Series C | ||
5.00%, due 5/15/25 | 4,475,000 | 5,245,682 |
Series C | ||
5.00%, due 5/15/34 | 12,280,000 | 16,040,695 |
City of Los Angeles CA, Department of Airports, Revenue Bonds | ||
Series D | ||
5.00%, due 5/15/31 (c) | 2,530,000 | 2,939,795 |
Series B | ||
5.00%, due 5/15/31 (c) | 12,615,000 | 15,964,740 |
Series E | ||
5.00%, due 5/15/36 (c) | 3,205,000 | 4,120,193 |
Series E | ||
5.00%, due 5/15/37 (c) | 1,000,000 | 1,282,497 |
Series F | ||
5.00%, due 5/15/37 (c) | 2,350,000 | 2,993,083 |
Series A | ||
5.00%, due 5/15/40 | 6,850,000 | 8,909,269 |
Series C | ||
5.00%, due 5/15/44 (c) | 4,285,000 | 5,318,237 |
Series E | ||
5.00%, due 5/15/44 (c) | 10,230,000 | 12,976,336 |
Series A | ||
5.00%, due 5/15/51 (c) | 17,625,000 | 22,524,137 |
City of Los Angeles CA, Wastewater System, Green Bond, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/43 | 10,000,000 | 12,542,931 |
City of Sacramento CA, Transient Occupancy Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/28 | 2,700,000 | 3,379,960 |
Series A | ||
5.00%, due 6/1/29 | 3,165,000 | 3,947,171 |
Series A | ||
5.00%, due 6/1/30 | 4,920,000 | 6,097,050 |
Series A | ||
5.00%, due 6/1/32 | 2,260,000 | 2,782,213 |
Series A | ||
5.00%, due 6/1/33 | 1,225,000 | 1,504,184 |
Coachella Valley Unified School District, Election 2005, Unlimited General Obligation | ||
Series F, Insured: BAM | ||
5.00%, due 8/1/46 | 12,385,000 | 14,761,369 |
Coast Community College District, Election 2012, Unlimited General Obligation | ||
Series D | ||
4.50%, due 8/1/39 | 15,000,000 | 18,139,984 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
Compton Unified School District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
(zero coupon), due 6/1/38 | $ 1,250,000 | $ 799,611 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/39 | 5,105,000 | 3,142,979 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/40 | 1,500,000 | 888,121 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/41 | 1,750,000 | 995,665 |
Corona-Norco Unified School District, Election 2014, Unlimited General Obligation | ||
Series C | ||
4.00%, due 8/1/49 | 7,000,000 | 8,080,187 |
Cotati-Rohnert Park Unified School District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 8/1/42 | 2,865,000 | 3,416,261 |
El Monte Union High School District, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/49 | 17,390,000 | 21,346,312 |
Enterprise Elementary School District, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 8/1/49 | 5,000,000 | 5,884,690 |
Firebaugh-Las Deltas Unified School District, Election 2016, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.25%, due 8/1/41 | 3,000,000 | 3,765,407 |
Fontana Public Financing Authority, City of Fontana, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 9/1/32 | 1,320,000 | 1,495,279 |
Fontana Unified School District, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 8/1/35 | 14,800,000 | 7,394,555 |
Series C | ||
(zero coupon), due 8/1/36 | 15,500,000 | 7,193,894 |
Foothill-Eastern Transportation Corridor Agency, Revenue Bonds | ||
Series B-2, Insured: AGM | ||
3.50%, due 1/15/53 (b) | 4,800,000 | 5,529,936 |
Fremont Union High School District, Election 2018, Unlimited General Obligation | ||
Series A | ||
3.00%, due 8/1/39 | 2,250,000 | 2,498,982 |
Series A | ||
3.00%, due 8/1/40 | 7,825,000 | 8,662,837 |
Fresno Unified School District, Election 2001, Unlimited General Obligation | ||
Series G | ||
(zero coupon), due 8/1/32 | 6,000,000 | 2,848,014 |
Series G | ||
(zero coupon), due 8/1/33 | 10,000,000 | 4,410,149 |
Series G | ||
(zero coupon), due 8/1/41 | 23,485,000 | 5,931,665 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
Golden State Tobacco Securitization Corp., Revenue Bonds | ||
Series A-1 | ||
5.00%, due 6/1/33 | $ 12,545,000 | $ 15,671,332 |
Golden State Tobacco Securitization Corp., Asset-Backed, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 6/1/40 | 5,410,000 | 6,297,711 |
Jurupa Unified School District, Election 2014, Unlimited General Obligation | ||
Series C | ||
5.25%, due 8/1/43 | 5,500,000 | 6,992,292 |
Live Oak Elementary School District, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 8/1/39 | 3,205,000 | 3,818,649 |
Live Oak Unified School District, Election 2016, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 8/1/48 | 1,500,000 | 1,838,487 |
Los Angeles County Public Works Financing Authority, County of Los Angeles, Revenue Bonds | ||
Series E-1 | ||
5.00%, due 12/1/49 | 7,630,000 | 9,792,595 |
Los Angeles Unified School District, Unlimited General Obligation | ||
Series C | ||
3.00%, due 7/1/35 | 9,970,000 | 11,277,435 |
Series C | ||
4.00%, due 7/1/33 | 3,500,000 | 4,372,128 |
Series C | ||
4.00%, due 7/1/36 | 6,000,000 | 7,390,087 |
Series C | ||
4.00%, due 7/1/37 | 5,000,000 | 6,135,872 |
Los Angeles Unified School District, Election 2008, Unlimited General Obligation | ||
Series B-1 | ||
5.25%, due 7/1/42 | 68,405,000 | 85,900,386 |
Napa Valley Unified School District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 8/1/44 | 9,000,000 | 10,341,962 |
Novato Unified School District, Election 2016, Unlimited General Obligation | ||
Series C | ||
2.00%, due 8/1/39 | 4,645,000 | 4,689,204 |
Oakland Unified School District, Alameda County, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/27 | 1,160,000 | 1,372,442 |
Insured: AGM | ||
5.00%, due 8/1/28 | 1,755,000 | 2,075,129 |
Insured: AGM | ||
5.00%, due 8/1/29 | 2,535,000 | 2,997,124 |
Paramount Unified School District, Election 2006, Unlimited General Obligation | ||
Insured: BAM | ||
(zero coupon), due 8/1/43 | 25,000,000 | 6,479,380 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
Pomona Unified School District, Election 2008, Unlimited General Obligation | ||
Series E, Insured: AGM | ||
5.00%, due 8/1/30 | $ 3,285,000 | $ 3,437,611 |
Richmond Joint Powers Financing Authority, Civic Center Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 11/1/37 | 3,660,000 | 4,597,329 |
Riverside County Community Facilities District No. 07-2, Special Tax | ||
Insured: AGM | ||
4.00%, due 9/1/45 | 4,000,000 | 4,757,102 |
Riverside County Redevelopment Successor Agency, Jurupa Valley Project, Tax Allocation | ||
Series B, Insured: BAM | ||
5.00%, due 10/1/30 | 2,645,000 | 3,092,681 |
Riverside County Transportation Commission, Sales Tax, Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/36 | 20,000,000 | 23,223,558 |
Riverside Unified School District, Election 2016, Unlimited General Obligation | ||
Series B | ||
4.00%, due 8/1/42 | 5,000,000 | 5,824,307 |
San Bernardino City Unified School District, Election 2012, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/30 | 1,000,000 | 1,097,606 |
San Bernardino Community College District, Election 2018, Unlimited General Obligation | ||
Series A | ||
3.00%, due 8/1/41 | 7,500,000 | 8,607,699 |
San Diego Association of Governments South Bay Expressway, South Bay Expressway, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/30 | 2,475,000 | 3,070,362 |
Series A | ||
5.00%, due 7/1/32 | 1,800,000 | 2,226,442 |
Series A | ||
5.00%, due 7/1/38 | 1,150,000 | 1,412,425 |
San Diego County Regional Airport Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/38 | 1,750,000 | 2,070,485 |
San Diego County Water Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 5/1/34 | 2,000,000 | 2,123,405 |
San Diego Public Facilities Financing Authority, Capital Improvement Projects, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/44 | 3,000,000 | 3,494,806 |
San Francisco Bay Area Rapid Transit District, Green Bonds, Unlimited General Obligation | ||
Series C-1 | ||
3.00%, due 8/1/50 | 42,500,000 | 46,093,511 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series | ||
Series H | ||
5.00%, due 5/1/27 (c) | 7,745,000 | 9,617,392 |
Series E | ||
5.00%, due 5/1/35 (c) | 8,350,000 | 10,630,312 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series | ||
Series E | ||
5.00%, due 5/1/37 (c) | $ 7,535,000 | $ 9,542,740 |
Series E | ||
5.00%, due 5/1/45 (c) | 3,250,000 | 4,052,557 |
Series A | ||
5.00%, due 5/1/47 (c) | 9,000,000 | 10,926,549 |
Series D | ||
5.00%, due 5/1/48 (c) | 9,000,000 | 11,065,372 |
Series E | ||
5.00%, due 5/1/50 (c) | 15,000,000 | 18,617,833 |
Series F | ||
5.00%, due 5/1/50 | 29,580,000 | 37,302,309 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 5/1/36 | 4,245,000 | 5,389,553 |
Series A | ||
5.00%, due 5/1/38 | 6,000,000 | 7,583,515 |
Series A | ||
5.00%, due 5/1/49 | 15,000,000 | 18,645,487 |
San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Second Series (c) | ||
Series E | ||
5.00%, due 5/1/36 | 3,220,000 | 4,088,189 |
Series 2020 | ||
5.00%, due 5/1/37 | 4,470,000 | 5,771,841 |
San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/46 (c) | 3,000,000 | 3,560,958 |
San Jose Evergreen Community College District, Election 2016, Unlimited General Obligation | ||
Series B | ||
3.00%, due 9/1/37 | 1,565,000 | 1,741,794 |
San Marcos Schools Financing Authority, San Marcos Unified School District, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 8/15/34 | 1,000,000 | 1,220,600 |
Insured: AGM | ||
5.00%, due 8/15/35 | 1,000,000 | 1,219,173 |
Insured: AGM | ||
5.00%, due 8/15/36 | 1,100,000 | 1,339,354 |
Santa Clara Valley Water District, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/49 | 2,865,000 | 3,447,645 |
Santa Monica Community College District, Election 2016, Unlimited General Obligation | ||
Series A | ||
4.00%, due 8/1/47 | 8,580,000 | 10,105,595 |
Santa Monica-Malibu Unified School District, Election 2018, Unlimited General Obligation | ||
Series B | ||
3.00%, due 8/1/44 | 4,190,000 | 4,576,817 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
Selma Unified School District, Election 2006, Unlimited General Obligation | ||
Series D, Insured: AGM | ||
(zero coupon), due 8/1/39 | $ 730,000 | $ 465,417 |
Series D, Insured: AGM | ||
(zero coupon), due 8/1/41 | 730,000 | 434,113 |
Sierra Joint Community College District, Election 2018, Unlimited General Obligation | ||
Series A | ||
4.00%, due 8/1/53 | 3,500,000 | 4,102,674 |
Simi Valley Unified School District, Election 2016, Unlimited General Obligation | ||
Series A | ||
5.00%, due 8/1/39 | 1,000,000 | 1,243,063 |
Series A | ||
5.00%, due 8/1/40 | 1,195,000 | 1,485,843 |
Solano County Community College District, Election 2012, Unlimited General Obligation | ||
Series C | ||
5.25%, due 8/1/42 | 16,460,000 | 20,775,837 |
Southern California Water Replenishment District, Revenue Bonds | ||
5.00%, due 8/1/38 | 1,750,000 | 2,214,596 |
State of California, Various Purposes, Unlimited General Obligation | ||
2.50%, due 3/1/50 | 5,000,000 | 5,090,307 |
3.00%, due 11/1/34 | 3,445,000 | 3,958,951 |
3.00%, due 11/1/35 | 4,000,000 | 4,572,392 |
4.00%, due 10/1/34 | 20,790,000 | 25,571,804 |
4.00%, due 3/1/37 | 20,100,000 | 24,596,000 |
4.00%, due 3/1/38 | 8,000,000 | 9,752,946 |
4.00%, due 3/1/40 | 7,500,000 | 9,084,631 |
4.00%, due 3/1/46 | 20,000,000 | 23,923,478 |
5.25%, due 10/1/39 | 5,635,000 | 6,819,964 |
State of California, Unlimited General Obligation | ||
3.00%, due 10/1/33 | 5,000,000 | 5,717,464 |
4.00%, due 3/1/36 | 13,000,000 | 15,976,286 |
Tahoe-Truckee Unified School District, Election 2014, Unlimited General Obligation | ||
Series B | ||
5.00%, due 8/1/41 | 2,200,000 | 2,630,416 |
Temecula Valley Unified School District, Election 2012, Unlimited General Obligation | ||
Series D | ||
3.00%, due 8/1/44 | 4,650,000 | 5,061,166 |
Tulare County Transportation Authority, Sales Tax, Revenue Bonds | ||
4.00%, due 2/1/37 | 5,945,000 | 7,166,876 |
Turlock Irrigation District, Revenue Bonds | ||
5.00%, due 1/1/44 | 4,000,000 | 5,158,187 |
Twin Rivers Unified School District, Election 2006, Unlimited General Obligation | ||
Series Series 2008, Insured: AGM | ||
(zero coupon), due 8/1/32 | 5,120,000 | 4,245,138 |
University of California, Revenue Bonds | ||
Series AV | ||
5.00%, due 5/15/42 | 1,725,000 | 2,132,944 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
California | ||
University of California, Revenue Bonds | ||
Series AZ | ||
5.00%, due 5/15/43 | $ 9,180,000 | $ 11,533,889 |
Series AZ | ||
5.25%, due 5/15/58 | 5,905,000 | 7,504,050 |
Westminster School District, Election 2008, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
(zero coupon), due 8/1/48 | 13,900,000 | 2,470,918 |
Winters Joint Unified School District, Election 2016, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 8/1/46 | 1,400,000 | 1,732,502 |
1,169,892,172 | ||
Colorado 0.9% | ||
Adams State University, Revenue Bonds | ||
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/37 | 750,000 | 894,977 |
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/39 | 1,085,000 | 1,289,289 |
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/42 | 1,500,000 | 1,771,307 |
City & County of Denver CO, Airport System, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 12/1/25 | 5,370,000 | 6,412,150 |
Series A | ||
5.25%, due 12/1/48 | 10,000,000 | 12,459,660 |
City & County of Denver CO, Convention Center Expansion Project, Certificate of Participation | ||
Series A | ||
5.375%, due 6/1/43 | 2,875,000 | 3,472,534 |
Colorado Health Facilities Authority, CommonSpirit Health Obligated Group, Revenue Bonds | ||
Series A-2 | ||
4.00%, due 8/1/49 | 15,975,000 | 18,549,270 |
Colorado Health Facilities Authority, AdventHealth Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/50 | 16,000,000 | 19,379,245 |
Colorado Housing and Finance Authority, Revenue Bonds | ||
Series C, Class I, Insured: GNMA | ||
4.25%, due 11/1/48 | 4,480,000 | 4,956,211 |
Denver Convention Center Hotel Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 12/1/36 | 1,000,000 | 1,173,232 |
Regional Transportation District, Certificate Participation | ||
Series A | ||
4.50%, due 6/1/44 | 10,000,000 | 10,598,967 |
South Suburban Park & Recreation District, Unlimited General Obligation | ||
4.00%, due 12/15/38 | 1,140,000 | 1,367,963 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Colorado | ||
Vista Ridge Metropolitan District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 12/1/31 | $ 1,250,000 | $ 1,498,469 |
83,823,274 | ||
Connecticut 2.6% | ||
City of Bridgeport CT, Unlimited General Obligation | ||
Series D, Insured: AGM | ||
5.00%, due 8/15/33 | 3,090,000 | 3,735,564 |
Series D, Insured: AGM | ||
5.00%, due 8/15/34 | 3,090,000 | 3,728,771 |
Series D, Insured: AGM | ||
5.00%, due 8/15/35 | 3,090,000 | 3,725,380 |
Series D, Insured: AGM | ||
5.00%, due 8/15/36 | 3,090,000 | 3,718,608 |
City of Hartford CT, Unlimited General Obligation | ||
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/28 | 2,500,000 | 2,576,956 |
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/29 | 895,000 | 921,858 |
Series A, Insured: AGM State Guaranteed | ||
5.00%, due 4/1/32 | 195,000 | 200,634 |
Series C, Insured: AGM State Guaranteed | ||
5.00%, due 7/15/32 | 7,470,000 | 8,722,442 |
Series C, Insured: AGM State Guaranteed | ||
5.00%, due 7/15/34 | 2,500,000 | 2,909,983 |
City of New Haven CT, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/29 | 1,450,000 | 1,747,361 |
Connecticut Housing Finance Authority, Revenue Bonds | ||
Series C-1 | ||
4.00%, due 11/15/45 | 4,420,000 | 4,879,193 |
Series B-1 | ||
4.00%, due 5/15/49 | 2,530,000 | 2,873,100 |
State of Connecticut, Unlimited General Obligation | ||
Series A | ||
3.00%, due 1/15/32 | 12,660,000 | 14,556,229 |
Series A | ||
3.00%, due 1/15/33 | 6,000,000 | 6,863,137 |
Series A | ||
3.00%, due 1/15/34 | 7,000,000 | 7,951,660 |
Series A | ||
3.00%, due 1/15/37 | 5,110,000 | 5,743,348 |
Series A | ||
4.00%, due 4/15/37 | 2,920,000 | 3,495,217 |
Series B | ||
5.00%, due 4/15/27 | 3,000,000 | 3,101,874 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Connecticut | ||
State of Connecticut, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/28 | $ 1,990,000 | $ 2,234,132 |
Series F | ||
5.00%, due 9/15/28 | 12,810,000 | 16,671,785 |
Series C | ||
5.00%, due 6/15/33 | 1,775,000 | 2,247,707 |
Series E, Insured: BAM | ||
5.00%, due 9/15/33 | 4,500,000 | 5,790,241 |
Series C | ||
5.00%, due 6/15/34 | 1,375,000 | 1,737,774 |
Series A | ||
5.00%, due 4/15/35 | 6,000,000 | 7,329,025 |
Series E, Insured: BAM | ||
5.00%, due 9/15/35 | 2,325,000 | 2,979,981 |
Series A | ||
5.00%, due 4/15/36 | 2,050,000 | 2,623,880 |
Series E, Insured: BAM | ||
5.00%, due 9/15/37 | 2,000,000 | 2,552,514 |
Series A | ||
5.00%, due 4/15/39 | 1,250,000 | 1,589,443 |
Series A | ||
5.00%, due 1/15/40 | 750,000 | 970,018 |
State of Connecticut, Social Bond, Unlimited General Obligation | ||
Series B | ||
3.00%, due 6/1/32 | 5,000,000 | 5,769,367 |
Series B | ||
3.00%, due 6/1/33 | 2,000,000 | 2,291,217 |
Series B | ||
3.00%, due 6/1/38 | 3,375,000 | 3,798,850 |
Series B | ||
3.00%, due 6/1/39 | 4,375,000 | 4,911,081 |
Series B | ||
3.00%, due 6/1/40 | 5,425,000 | 6,076,582 |
State of Connecticut, Transportation Infrastructure, Special Tax, Revenue Bonds | ||
Series A | ||
3.125%, due 5/1/40 | 4,250,000 | 4,751,231 |
Series A | ||
4.00%, due 5/1/39 | 9,550,000 | 11,565,344 |
Series A | ||
5.00%, due 9/1/30 | 5,000,000 | 5,703,460 |
Series A | ||
5.00%, due 9/1/30 | 1,830,000 | 2,219,221 |
Series A | ||
5.00%, due 1/1/31 | 5,000,000 | 6,300,489 |
Series A, Insured: BAM | ||
5.00%, due 9/1/31 | 14,470,000 | 17,539,557 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Connecticut | ||
State of Connecticut, Transportation Infrastructure, Special Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/33 | $ 13,000,000 | $ 15,721,616 |
Series A | ||
5.00%, due 9/1/34 | 3,250,000 | 3,697,589 |
Series A | ||
5.00%, due 1/1/36 | 4,075,000 | 5,074,705 |
State of Connecticut, Transportation Infrastructure, Special Tax | ||
5.00%, due 1/1/30 | 4,635,000 | 5,862,578 |
University of Connecticut, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/33 | 2,000,000 | 2,543,889 |
Series A | ||
5.00%, due 11/1/35 | 3,990,000 | 5,055,311 |
237,059,902 | ||
Delaware 0.7% | ||
Delaware State Health Facilities Authority, Christiana Health Care System Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/34 | 6,360,000 | 8,307,384 |
Series A | ||
5.00%, due 10/1/35 | 8,085,000 | 10,543,104 |
Series A | ||
5.00%, due 10/1/37 | 9,135,000 | 11,856,579 |
Series A | ||
5.00%, due 10/1/38 | 5,000,000 | 6,476,015 |
Series A | ||
5.00%, due 10/1/45 | 18,155,000 | 23,183,265 |
60,366,347 | ||
District of Columbia 1.2% | ||
District of Columbia, Bryant Street Project, Tax Allocation | ||
4.00%, due 6/1/39 | 2,370,000 | 2,838,037 |
4.00%, due 6/1/43 | 2,035,000 | 2,417,550 |
District of Columbia, Friendship Public Charter School, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/42 | 5,500,000 | 5,852,926 |
District of Columbia Water & Sewer Authority | ||
Insured: AGM | ||
5.50%, due 10/1/28 | 1,250,000 | 1,567,832 |
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (c) | ||
Series A | ||
4.00%, due 10/1/36 | 2,350,000 | 2,858,932 |
Series A | ||
5.00%, due 10/1/29 | 2,500,000 | 3,281,068 |
Series A | ||
5.00%, due 10/1/30 | 3,000,000 | 4,016,583 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
District of Columbia | ||
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 10/1/31 | $ 4,000,000 | $ 5,319,797 |
Series A | ||
5.00%, due 10/1/32 | 4,000,000 | 5,303,098 |
Series A | ||
5.00%, due 10/1/33 | 3,175,000 | 4,195,252 |
Metropolitan Washington Airports Authority, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Second Lien | ||
Series C, Insured: AGC | ||
6.50%, due 10/1/41 (a) | 8,000,000 | 10,293,856 |
Metropolitan Washington Airports Authority Dulles Toll Road, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Sub. Lien | ||
Series B | ||
4.00%, due 10/1/39 | 1,000,000 | 1,190,965 |
Series B | ||
5.00%, due 10/1/33 | 1,500,000 | 1,946,906 |
Metropolitan Washington Airports Authority Dulles Toll Road, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds | ||
Series B | ||
6.50%, due 10/1/44 (a) | 7,140,000 | 9,754,310 |
Washington Metropolitan Area Transit Authority, Green bond, Revenue Bonds | ||
Series A | ||
3.00%, due 7/15/36 | 10,425,000 | 11,901,544 |
Series A | ||
3.00%, due 7/15/40 | 7,775,000 | 8,765,180 |
Series A | ||
3.00%, due 7/15/43 | 16,755,000 | 18,707,465 |
Series A | ||
4.00%, due 7/15/39 | 6,500,000 | 8,061,499 |
108,272,800 | ||
Florida 3.3% | ||
Central Florida Expressway Authority, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
4.00%, due 7/1/37 | 3,705,000 | 4,604,107 |
Central Florida Expressway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/35 | 2,205,000 | 2,855,312 |
City of Gainesville FL, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/44 | 12,580,000 | 16,019,635 |
City of Miami Beach FL, Beach Parking, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 9/1/40 | 2,500,000 | 2,915,138 |
City of Miami FL, Parking System, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 10/1/33 | 1,520,000 | 1,816,954 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Florida | ||
City of Miami FL, Parking System, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 10/1/36 | $ 3,395,000 | $ 4,025,984 |
Insured: BAM | ||
4.00%, due 10/1/37 | 2,535,000 | 2,998,123 |
Insured: BAM | ||
4.00%, due 10/1/38 | 1,675,000 | 1,973,963 |
Insured: BAM | ||
4.00%, due 10/1/39 | 2,820,000 | 3,315,898 |
City of Orlando FL, Tourist Development Tax, Unrefunded, Revenue Bonds | ||
Series C, Insured: AGC | ||
5.50%, due 11/1/38 | 1,600,000 | 1,605,291 |
City of South Miami FL, Miami Health Facilities Authority, Inc., Revenue Bonds | ||
5.00%, due 8/15/42 | 20,000,000 | 24,756,704 |
County of Broward FL, Airport System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/49 (c) | 4,000,000 | 5,021,036 |
County of Hillsborough FL, Capital Improvement, Revenue Bonds | ||
3.00%, due 8/1/38 | 6,640,000 | 7,485,184 |
County of Miami-Dade FL, Water & Sewer System, Revenue Bonds | ||
3.00%, due 10/1/36 | 2,100,000 | 2,363,175 |
3.00%, due 10/1/43 | 10,750,000 | 11,878,395 |
4.00%, due 10/1/42 | 3,000,000 | 3,631,236 |
Series A | ||
4.00%, due 10/1/44 | 9,500,000 | 10,936,560 |
Series B | ||
5.00%, due 10/1/31 | 10,000,000 | 11,915,911 |
Series B | ||
5.00%, due 10/1/44 | 20,000,000 | 25,521,464 |
County of Miami-Dade FL, Aviation, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/38 | 2,250,000 | 2,718,443 |
County of Miami-Dade FL, Transit System, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/48 | 19,340,000 | 22,846,609 |
County of Miami-Dade FL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 7/1/37 | 2,000,000 | 2,411,456 |
County of Sarasota FL, Utility System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/40 | 5,750,000 | 7,258,397 |
Florida Governmental Utility Authority, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/37 | 1,375,000 | 1,641,281 |
Insured: AGM | ||
4.00%, due 10/1/39 | 1,400,000 | 1,663,803 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Florida | ||
Florida Keys Aqueduct Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/49 | $ 6,000,000 | $ 6,928,438 |
Greater Orlando Aviation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/32 (c) | 7,025,000 | 9,107,655 |
JEA Electric System, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/36 | 4,500,000 | 5,288,464 |
Orange County Health Facilities Authority, Presbyterian Retirement Communities, Inc., Revenue Bonds | ||
5.00%, due 8/1/31 | 1,500,000 | 1,666,733 |
Putnam County Development Authority, Seminole Electric Cooperative, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/42 | 5,000,000 | 6,076,823 |
University of Florida Department of Housing & Residence Education Housing System Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/1/39 | 4,745,000 | 5,298,766 |
Series A, Insured: BAM | ||
3.00%, due 7/1/40 | 5,000,000 | 5,561,750 |
Series A, Insured: BAM | ||
3.00%, due 7/1/41 | 8,765,000 | 9,713,860 |
Series A, Insured: BAM | ||
3.00%, due 7/1/51 | 29,000,000 | 31,714,246 |
Village Community Development District No. 8, Special Assessment | ||
Insured: AGM | ||
3.50%, due 5/1/40 | 6,095,000 | 6,845,988 |
West Palm Beach Community Redevelopment Agency, City Center Community Redevelopment Area, Tax Allocation | ||
5.00%, due 3/1/34 | 10,100,000 | 12,854,982 |
5.00%, due 3/1/35 | 10,620,000 | 13,490,347 |
298,728,111 | ||
Georgia 2.0% | ||
Atlanta Development Authority (The), New Downtown Atlanta Stadium Project, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 7/1/33 | 1,000,000 | 1,159,644 |
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/44 | 7,915,000 | 9,361,769 |
Series A | ||
5.00%, due 7/1/32 | 1,550,000 | 2,034,452 |
Series A | ||
5.00%, due 7/1/33 | 2,380,000 | 3,114,631 |
Series A | ||
5.00%, due 7/1/35 | 1,900,000 | 2,475,419 |
Series A | ||
5.00%, due 7/1/36 | 2,850,000 | 3,698,669 |
Series A | ||
5.00%, due 7/1/37 | 2,800,000 | 3,624,516 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Georgia | ||
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/38 | $ 2,250,000 | $ 2,906,599 |
Series A | ||
5.00%, due 7/1/39 | 1,300,000 | 1,675,781 |
City of Atlanta GA, Department of Aviation, Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/42 | 1,310,000 | 1,334,760 |
City of Dalton (The) GA, Georgia Combined Utilities, Revenue Bonds | ||
5.00%, due 3/1/30 | 2,055,000 | 2,512,694 |
Coweta County Development Authority, Piedmont Healthcare, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/44 | 5,000,000 | 6,361,864 |
Gainesville & Hall County Hospital Authority, Northeast Health System, Inc. Project, Revenue Bonds | ||
Series A, Insured: County Guaranteed | ||
5.25%, due 8/15/49 | 5,155,000 | 5,901,521 |
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 5/15/35 | 3,000,000 | 4,264,050 |
Series A | ||
5.00%, due 5/15/36 | 3,700,000 | 5,323,040 |
Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/35 | 5,000,000 | 5,709,433 |
Series A | ||
5.00%, due 1/1/45 | 3,300,000 | 4,234,389 |
Series A | ||
5.00%, due 1/1/50 | 4,000,000 | 5,108,674 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/37 | 1,000,000 | 1,244,340 |
Series A | ||
5.00%, due 1/1/38 | 1,340,000 | 1,667,393 |
Series A | ||
5.00%, due 1/1/49 | 52,395,000 | 64,373,052 |
Series A | ||
5.00%, due 1/1/59 | 10,000,000 | 12,247,944 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/56 | 3,900,000 | 4,871,238 |
Series B | ||
5.00%, due 1/1/59 | 8,000,000 | 9,774,893 |
Series A, Insured: AGM | ||
5.00%, due 1/1/62 | 6,000,000 | 7,494,212 |
Series A, Insured: AGM | ||
5.00%, due 1/1/62 | 4,700,000 | 5,870,466 |
178,345,443 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Guam 0.3% | ||
Antonio B Won Pat International Airport Authority, Revenue Bonds | ||
Series C, Insured: AGM | ||
6.125%, due 10/1/43 (c) | $ 5,000,000 | $ 5,538,369 |
Guam Government Waterworks Authority, Water and Wastewater System, Revenue Bonds | ||
5.00%, due 7/1/40 | 1,730,000 | 2,023,257 |
5.00%, due 1/1/46 | 5,000,000 | 5,693,524 |
Series A | ||
5.00%, due 1/1/50 | 1,660,000 | 2,057,415 |
5.25%, due 7/1/33 | 1,000,000 | 1,094,458 |
Guam Power Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/30 | 5,610,000 | 5,898,433 |
Series A, Insured: AGM | ||
5.00%, due 10/1/44 | 655,000 | 727,069 |
Territory of Guam, Section 30, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/27 | 2,265,000 | 2,737,138 |
Series A | ||
5.00%, due 12/1/34 | 2,290,000 | 2,703,382 |
Territory of Guam, Business Privilege Tax, Revenue Bonds | ||
Series A | ||
5.125%, due 1/1/42 | 3,085,000 | 3,146,880 |
31,619,925 | ||
Hawaii 0.3% | ||
City & County Honolulu, Wastewater System, Revenue Bonds, Senior Lien | ||
Series A | ||
4.00%, due 7/1/42 | 6,000,000 | 7,014,950 |
State of Hawaii Department of Budget & Finance, Hawaiian Electric Co., Inc., Revenue Bonds | ||
3.50%, due 10/1/49 | 7,000,000 | 7,336,523 |
State of Hawaii Department of Budget & Finance, Hawai'i Pacific Health Obligated Group, Revenue Bonds | ||
Series A | ||
6.00%, due 7/1/33 | 3,000,000 | 3,310,917 |
State of Hawaii State Highway Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/38 | 2,765,000 | 3,518,490 |
Series A | ||
5.00%, due 1/1/39 | 3,150,000 | 4,000,318 |
Series A | ||
5.00%, due 1/1/40 | 2,140,000 | 2,713,307 |
27,894,505 | ||
Idaho 0.4% | ||
Idaho Housing & Finance Association, Federal Highway Trust Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/36 | 16,920,000 | 21,729,517 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Idaho | ||
Idaho Housing & Finance Association, Federal Highway Trust Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/37 | $ 10,000,000 | $ 12,809,689 |
34,539,206 | ||
Illinois 9.3% | ||
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/26 | 19,995,000 | 18,806,673 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/27 | 8,250,000 | 10,340,238 |
Series A, Insured: AGM | ||
5.50%, due 12/1/39 | 11,455,000 | 11,589,253 |
Chicago Board of Education, Revenue Bonds | ||
6.00%, due 4/1/46 | 19,485,000 | 24,212,429 |
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series A | ||
4.00%, due 1/1/32 (c) | 2,900,000 | 2,945,987 |
Series A | ||
4.00%, due 1/1/37 | 11,290,000 | 13,490,120 |
Series A, Insured: AGM | ||
4.00%, due 1/1/37 | 15,000,000 | 18,107,134 |
Series B, Insured: AGM | ||
4.00%, due 1/1/53 | 10,000,000 | 11,590,219 |
Series B | ||
5.00%, due 1/1/28 | 1,000,000 | 1,267,330 |
Series C | ||
5.00%, due 1/1/35 | 6,000,000 | 7,119,624 |
Series D | ||
5.00%, due 1/1/47 (c) | 5,000,000 | 5,981,091 |
Series C | ||
5.50%, due 1/1/34 (c) | 3,000,000 | 3,203,868 |
Chicago O'Hare International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/32 (c) | 15,000,000 | 17,214,075 |
Chicago O'Hare International Airport, Passenger Facility Charge, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/30 | 2,915,000 | 2,973,774 |
Series B | ||
5.00%, due 1/1/31 (c) | 2,000,000 | 2,040,325 |
Chicago Park District, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/31 | 1,955,000 | 2,378,407 |
Series C, Insured: BAM | ||
4.00%, due 1/1/38 | 2,800,000 | 3,333,420 |
Series A | ||
5.00%, due 1/1/28 | 1,000,000 | 1,176,681 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Illinois | ||
Chicago Park District, Limited General Obligation | ||
Series A | ||
5.00%, due 1/1/29 | $ 750,000 | $ 878,430 |
Series A | ||
5.00%, due 1/1/31 | 1,000,000 | 1,164,363 |
Series A | ||
5.00%, due 1/1/35 | 2,000,000 | 2,316,514 |
Chicago Park District, Unlimited General Obligation | ||
Series F-2 | ||
4.00%, due 1/1/38 | 1,150,000 | 1,361,129 |
Series F-2 | ||
5.00%, due 1/1/37 | 2,050,000 | 2,620,051 |
Chicago Park District, Personal Property Replacement Tax, Unlimited General Obligation | ||
Series D, Insured: BAM | ||
4.00%, due 1/1/34 | 4,555,000 | 5,482,286 |
Chicago Park District, Limited Tax, Limited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 1/1/29 | 2,500,000 | 2,708,276 |
Series A | ||
5.50%, due 1/1/33 | 2,000,000 | 2,208,806 |
Series A | ||
5.75%, due 1/1/38 | 4,000,000 | 4,432,939 |
Chicago Park District, Special Recreation Activity Alternate Revenue Source, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 11/15/30 | 1,435,000 | 1,866,530 |
Chicago Transit Authority, Sales Tax Receipts, Revenue Bonds, Second Lien | ||
Series A | ||
4.00%, due 12/1/50 | 32,730,000 | 38,228,097 |
5.00%, due 12/1/46 | 2,480,000 | 2,985,001 |
Chicago Transit Authority, Sales Tax Receipts, Revenue Bonds | ||
5.25%, due 12/1/29 | 2,000,000 | 2,034,215 |
5.25%, due 12/1/31 | 1,735,000 | 1,764,681 |
Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds | ||
5.00%, due 12/1/44 | 2,000,000 | 2,287,243 |
5.25%, due 12/1/49 | 1,500,000 | 1,734,216 |
City of Chicago Heights IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.25%, due 12/1/34 | 2,115,000 | 2,616,222 |
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
4.00%, due 11/1/37 | 1,250,000 | 1,298,742 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/28 | 2,000,000 | 2,541,184 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/30 | 3,000,000 | 3,768,834 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/32 | 5,000,000 | 6,248,024 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/33 | 10,000,000 | 12,472,940 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Illinois | ||
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
Series 2, Insured: AGM | ||
5.00%, due 11/1/38 | $ 3,500,000 | $ 4,330,350 |
Insured: AGM | ||
5.25%, due 11/1/33 | 5,000,000 | 6,329,517 |
Insured: AGM | ||
5.25%, due 11/1/34 | 1,860,000 | 2,354,949 |
Insured: AGM | ||
5.25%, due 11/1/35 | 3,025,000 | 3,835,226 |
City of Chicago IL, Waterworks, Project, Revenue Bonds, Second Lien | ||
5.00%, due 11/1/27 | 1,655,000 | 1,891,175 |
5.00%, due 11/1/29 | 1,700,000 | 1,929,259 |
City of Chicago IL, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
5.00%, due 1/1/28 | 1,000,000 | 1,109,652 |
Series B, Insured: AGM | ||
5.00%, due 1/1/30 | 7,585,000 | 9,309,517 |
5.00%, due 1/1/33 | 2,000,000 | 2,208,091 |
Series B | ||
5.00%, due 1/1/33 | 2,490,000 | 3,028,000 |
5.00%, due 1/1/39 | 8,420,000 | 9,296,065 |
5.00%, due 1/1/44 | 13,090,000 | 14,445,310 |
Series A, Insured: AGM | ||
5.25%, due 1/1/42 | 4,000,000 | 4,905,939 |
City of Chicago IL, Motor Fuel Tax, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/33 | 4,725,000 | 5,067,381 |
City of Chicago IL, Project, Unlimited General Obligation | ||
Series A | ||
5.00%, due 1/1/40 | 1,750,000 | 1,766,859 |
City of Chicago IL, Unlimited General Obligation | ||
Series A | ||
5.50%, due 1/1/49 | 10,000,000 | 12,635,213 |
Series A | ||
6.00%, due 1/1/38 | 43,000,000 | 53,914,122 |
Series A, Insured: BAM | ||
6.00%, due 1/1/38 | 6,000,000 | 7,464,230 |
Cook County Community College District No. 508, Unlimited General Obligation | ||
Insured: BAM | ||
5.50%, due 12/1/38 | 5,000,000 | 5,550,308 |
Cook County Community High School District No. 212 Leyden, Revenue Bonds | ||
Series C, Insured: BAM | ||
5.00%, due 12/1/30 | 3,370,000 | 3,890,224 |
Series C, Insured: BAM | ||
5.00%, due 12/1/31 | 2,610,000 | 3,011,963 |
County of Will IL, Unlimited General Obligation | ||
5.00%, due 11/15/45 | 18,000,000 | 21,614,792 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Illinois | ||
Illinois Finance Authority, University of Chicago, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/50 | $ 10,775,000 | $ 12,661,400 |
Illinois Finance Authority, Carle Foundation (The), Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/35 | 5,000,000 | 6,762,459 |
Series A | ||
5.00%, due 8/15/36 | 4,825,000 | 6,507,262 |
Illinois Finance Authority, Rehab Institute of Chicago, Revenue Bonds | ||
Series A | ||
6.00%, due 7/1/43 | 9,600,000 | 10,384,054 |
Illinois Housing Development Authority, Revenue Bonds | ||
Series A, Insured: GNMA FNMA FHLMC COLL | ||
3.00%, due 4/1/51 | 7,885,000 | 8,668,730 |
Illinois Sports Facilities Authority (The), Revenue Bonds | ||
Insured: AGM | ||
5.25%, due 6/15/31 | 5,000,000 | 5,552,655 |
Illinois State Toll Highway Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 1/1/41 | 5,665,000 | 6,769,942 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 6/15/36 | 58,750,000 | 43,033,599 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Capital Appreciation, Revenue Bonds | ||
Insured: AGM | ||
(zero coupon), due 6/15/44 | 10,000,000 | 5,904,882 |
Rock Island County Public Building Commission, County of Rock Island, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/36 | 2,645,000 | 3,204,288 |
Sales Tax Securitization Corp., Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/48 | 20,000,000 | 22,757,204 |
Series C | ||
5.00%, due 1/1/33 | 2,000,000 | 2,545,510 |
Series A | ||
5.00%, due 1/1/40 | 4,915,000 | 6,003,156 |
Series 2018C | ||
5.00%, due 1/1/43 | 10,000,000 | 12,453,535 |
Series C | ||
5.25%, due 1/1/35 | 9,000,000 | 11,557,491 |
Series 2018C | ||
5.25%, due 1/1/43 | 20,000,000 | 25,256,646 |
Sales Tax Securitization Corp., Revenue Bonds, Second Lien | ||
Series 2020A | ||
5.00%, due 1/1/26 | 1,400,000 | 1,670,180 |
Series A, Insured: BAM | ||
5.00%, due 1/1/37 | 1,650,000 | 2,128,428 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Illinois | ||
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 6/1/28 | $ 1,005,000 | $ 1,277,754 |
Series C, Insured: AGM | ||
5.00%, due 6/1/34 | 1,000,000 | 1,311,425 |
Series C, Insured: AGM | ||
5.00%, due 6/1/38 | 1,635,000 | 2,120,115 |
Series C, Insured: AGM | ||
5.00%, due 6/1/39 | 1,000,000 | 1,292,714 |
Southern Illinois University, Housing & Auxiliary Facilities System, Revenue Bonds | ||
Series 2015B, Insured: BAM | ||
5.00%, due 4/1/26 | 1,175,000 | 1,360,290 |
Series B, Insured: BAM | ||
5.00%, due 4/1/29 | 1,620,000 | 1,861,481 |
Series B, Insured: BAM | ||
5.00%, due 4/1/30 | 1,000,000 | 1,145,165 |
State of Illinois, Sales Tax, Revenue Bonds | ||
Series C | ||
4.00%, due 6/15/27 | 2,000,000 | 2,295,584 |
4.50%, due 6/15/36 | 17,500,000 | 17,573,516 |
State of Illinois, Unlimited General Obligation | ||
Series C | ||
4.00%, due 10/1/40 | 5,000,000 | 5,925,099 |
Insured: BAM | ||
4.00%, due 6/1/41 | 10,000,000 | 11,364,817 |
Series D | ||
5.00%, due 11/1/26 | 8,725,000 | 10,611,568 |
5.00%, due 2/1/27 | 4,730,000 | 5,787,059 |
5.00%, due 1/1/28 | 6,155,000 | 7,236,879 |
5.00%, due 2/1/28 | 10,000,000 | 12,154,345 |
Series D | ||
5.00%, due 11/1/28 | 7,380,000 | 9,134,334 |
5.25%, due 2/1/32 | 10,000,000 | 11,160,145 |
5.50%, due 5/1/39 | 15,000,000 | 19,679,958 |
5.75%, due 5/1/45 | 5,000,000 | 6,582,017 |
Series A | ||
6.00%, due 5/1/27 | 9,665,000 | 12,432,236 |
United City of Yorkville IL, Special Tax | ||
Insured: AGM | ||
5.00%, due 3/1/32 | 3,773,000 | 4,380,121 |
University of Illinois, University of Illinois Auxiliary Facilities System, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 4/1/35 | 3,495,000 | 3,914,004 |
Village of Bellwood, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/29 | 1,500,000 | 1,786,837 |
Village of Oswego, Unlimited General Obligation | ||
5.00%, due 12/15/33 | 7,670,000 | 9,173,836 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Illinois | ||
Village of Rosemont IL, Corporate Purpose, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/40 | $ 8,090,000 | $ 9,772,547 |
Village of Schaumburg IL, Unlimited General Obligation | ||
Series A | ||
4.00%, due 12/1/41 | 37,350,000 | 39,540,525 |
Western Illinois Economic Development Authority, City of Quincy, Revenue Bonds | ||
Series B, Insured: BAM | ||
4.00%, due 12/1/34 | 1,500,000 | 1,739,788 |
847,113,093 | ||
Indiana 1.3% | ||
Indiana Finance Authority, CWA Authority Project, Revenue Bonds, First Lien | ||
Series S | ||
3.00%, due 10/1/38 | 2,865,000 | 3,224,597 |
Series S | ||
3.00%, due 10/1/40 | 14,330,000 | 16,033,636 |
Series S | ||
3.00%, due 10/1/41 | 4,705,000 | 5,244,545 |
Series S | ||
4.00%, due 10/1/39 | 7,360,000 | 9,022,360 |
Series S | ||
5.00%, due 10/1/37 | 19,330,000 | 26,132,861 |
Indiana Finance Authority, Educational Facilities-Butler University, Revenue Bonds | ||
Series B | ||
5.00%, due 2/1/24 | 2,100,000 | 2,148,726 |
Series A | ||
5.00%, due 2/1/25 | 2,215,000 | 2,265,407 |
Series B | ||
5.00%, due 2/1/25 | 2,210,000 | 2,260,293 |
Series B | ||
5.00%, due 2/1/26 | 2,320,000 | 2,371,573 |
Indiana University, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/32 | 2,595,000 | 3,205,564 |
Series A | ||
4.00%, due 6/1/33 | 1,885,000 | 2,320,824 |
Series A | ||
4.00%, due 6/1/38 | 3,015,000 | 3,662,968 |
Series A | ||
4.00%, due 6/1/39 | 3,095,000 | 3,751,132 |
Indianapolis Local Public Improvement Bond Bank, Public Improvement, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 6/1/37 | 22,080,000 | 26,497,305 |
Series A, Insured: AGM | ||
4.00%, due 6/1/38 | 7,500,000 | 8,977,854 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Indiana | ||
Vanderburgh County Redevelopment District, Tax Allocation | ||
Insured: AGM | ||
5.00%, due 2/1/31 | $ 1,460,000 | $ 1,739,350 |
118,858,995 | ||
Iowa 1.5% | ||
City of Coralville IA, Certificate of Participation | ||
Series E | ||
4.00%, due 6/1/22 | 1,405,000 | 1,431,257 |
Series E | ||
4.00%, due 6/1/23 | 1,320,000 | 1,373,657 |
Iowa Finance Authority, Renewable Natural Gas Project, Green Bond, Revenue Bonds | ||
1.50%, due 1/1/42 (b)(c) | 3,000,000 | 3,034,112 |
Iowa Finance Authority, Mortgage-Backed Securities Program, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 7/1/47 | 2,505,000 | 2,850,624 |
Series C, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 7/1/48 | 1,500,000 | 1,644,917 |
PEFA, Inc., Revenue Bonds | ||
5.00%, due 9/1/49 (b) | 102,820,000 | 124,359,721 |
134,694,288 | ||
Kansas 0.2% | ||
City of Hutchinson KS, Hutchinson Regional Medical Center, Inc., Revenue Bonds | ||
5.00%, due 12/1/26 | 565,000 | 676,661 |
5.00%, due 12/1/28 | 410,000 | 487,591 |
5.00%, due 12/1/30 | 500,000 | 588,964 |
University of Kansas Hospital Authority, KU Health System, Revenue Bonds | ||
5.00%, due 9/1/33 | 2,500,000 | 2,938,225 |
5.00%, due 9/1/34 | 5,000,000 | 5,869,826 |
5.00%, due 9/1/35 | 2,800,000 | 3,283,399 |
13,844,666 | ||
Kentucky 0.2% | ||
City of Ashland KY, Ashland Hospital Corp., King's Daughters Medical Center Project, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/23 | 1,525,000 | 1,623,382 |
Fayette County School District Finance Corp., Fayette County School District, Revenue Bonds | ||
Series A, Insured: State Intercept | ||
4.00%, due 5/1/38 | 2,995,000 | 3,389,034 |
Kentucky Public Energy Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/48 (b) | 15,000,000 | 16,359,242 |
21,371,658 | ||
Louisiana 0.5% | ||
City of Shreveport LA, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/1/30 | 5,355,000 | 6,686,243 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Louisiana | ||
Louisiana Public Facilities Authority, Unrefunded-Ochsner Clinic Foundation Project, Revenue Bonds | ||
5.00%, due 5/15/34 | $ 2,010,000 | $ 2,375,386 |
Louisiana Public Facilities Authority, Loyola University of New Orleans, Revenue Bonds | ||
Series Series 2011 | ||
5.25%, due 10/1/30 | 2,930,000 | 2,954,396 |
Louisiana Stadium & Exposition District, Revenue Bonds | ||
5.00%, due 7/3/23 | 11,200,000 | 11,925,603 |
Louisiana Stadium & Exposition District, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/30 | 1,485,000 | 1,618,728 |
Port New Orleans Board of Commissioners, Revenue Bonds | ||
Series D | ||
5.00%, due 4/1/50 | 7,325,000 | 9,185,527 |
State of Louisiana, Unlimited General Obligation | ||
Series A | ||
4.00%, due 2/1/34 | 9,830,000 | 10,726,303 |
45,472,186 | ||
Maine 0.0% ‡ | ||
Maine State Housing Authority, Revenue Bonds | ||
Series F | ||
3.65%, due 11/15/42 | 1,110,000 | 1,184,902 |
Maryland 0.7% | ||
City of Baltimore MD, Water Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/37 | 2,065,000 | 2,499,654 |
County of Baltimore MD, Public Improvement, Unlimited General Obligation | ||
4.00%, due 3/1/37 | 5,565,000 | 6,770,131 |
Maryland Community Development Administration, Department of Housing & Community Development, Revenue Bonds | ||
Series A | ||
3.00%, due 9/1/51 | 25,400,000 | 27,932,540 |
Maryland Stadium Authority, Construction and Reviatalization Program, Certificate of Participation | ||
Series A, Insured: State Intercept | ||
5.00%, due 5/1/42 | 24,645,000 | 30,755,504 |
67,957,829 | ||
Massachusetts 1.0% | ||
Commonwealth of Massachusetts, Consolidated Loan, Limited General Obligation | ||
Series A | ||
3.00%, due 3/1/35 | 15,095,000 | 17,412,968 |
Series B | ||
3.00%, due 4/1/48 | 12,000,000 | 13,127,092 |
Series B | ||
3.00%, due 4/1/49 | 16,500,000 | 18,026,890 |
Commonwealth of Massachusetts Transportation Fund, Revenue Bonds | ||
Series A | ||
3.00%, due 6/1/39 | 7,995,000 | 9,013,333 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Massachusetts | ||
Commonwealth of Massachusetts Transportation Fund, Rail Enhancement Project, Revenue Bonds | ||
Series B | ||
5.00%, due 6/1/42 | $ 15,870,000 | $ 20,619,375 |
Massachusetts Development Finance Agency, WGBH Educational Foundation, Revenue Bonds | ||
4.00%, due 1/1/33 | 1,000,000 | 1,157,467 |
Massachusetts Housing Finance Agency, Single Family Housing, Revenue Bonds | ||
Series 199 | ||
4.00%, due 12/1/48 | 2,675,000 | 2,924,074 |
Massachusetts School Building Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/45 | 4,585,000 | 5,986,855 |
University of Massachusetts Building Authority, University of Massachusetts, Revenue Bonds, Senior Lien | ||
Series 2021-1 | ||
5.00%, due 11/1/21 | 4,340,000 | 4,392,794 |
92,660,848 | ||
Michigan 1.3% | ||
City of Detroit MI, Water and Sewage Disposable System, Revenue Bonds | ||
Series A | ||
5.25%, due 7/1/39 | 12,400,000 | 12,987,271 |
Detroit City School District, Improvement School Building & Site, Unlimited General Obligation | ||
Series A, Insured: Q-SBLF | ||
5.00%, due 5/1/29 | 3,620,000 | 3,751,020 |
Series A, Insured: Q-SBLF | ||
5.00%, due 5/1/33 | 4,535,000 | 4,697,397 |
Downriver Utility Wastewater Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/31 | 1,600,000 | 2,033,712 |
Grand Rapids Public Schools, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 11/1/42 | 1,400,000 | 1,758,566 |
Great Lakes Water Authority, Water Supply System, Revenue Bonds, Senior Lien | ||
Series C | ||
5.25%, due 7/1/35 | 20,000,000 | 24,539,778 |
Hudsonville Public Schools, Unlimited General Obligation | ||
Series I, Insured: Q-SBLF | ||
4.00%, due 5/1/42 | 1,800,000 | 2,171,342 |
Lincoln Consolidated School District, Unlimited General Obligation | ||
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/28 | 2,030,000 | 2,457,766 |
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/30 | 1,455,000 | 1,741,932 |
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/40 | 1,500,000 | 1,770,450 |
Livonia Public Schools, Unlimited General Obligation | ||
Series II, Insured: AGM | ||
5.00%, due 5/1/40 | 4,365,000 | 5,189,937 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Michigan | ||
Michigan Finance Authority, Revenue Notes | ||
Series A-2, Insured: State Aid Withholding | ||
4.00%, due 8/20/21 | $ 20,000,000 | $ 20,039,324 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/36 | 2,000,000 | 2,476,544 |
Michigan Finance Authority, Wayne County Criminal Justice Center Project, Revenue Bonds, Senior Lien | ||
5.00%, due 11/1/25 | 1,000,000 | 1,192,647 |
5.00%, due 11/1/27 | 1,200,000 | 1,515,101 |
Michigan Finance Authority, Great Lakes Water Authority Sewage Disposal System, Revenue Bonds, Second Lien | ||
Series C-7, Insured: NATL-RE | ||
5.00%, due 7/1/32 | 2,500,000 | 2,827,712 |
Michigan Finance Authority, Great Lakes Water Authority Sewage Disposal System, Revenue Bonds, Senior Lien | ||
Series C-3, Insured: AGM | ||
5.00%, due 7/1/33 | 3,000,000 | 3,396,056 |
Michigan Finance Authority, Local Government Loan Program, Revenue Bonds | ||
Series D-1 | ||
5.00%, due 7/1/34 | 500,000 | 583,419 |
Michigan Finance Authority, Local Government Loan Program, Revenue Bonds, Senior Lien | ||
Series C-1 | ||
5.00%, due 7/1/44 | 2,500,000 | 2,612,709 |
Michigan Finance Authority, Great Lakes Water Authority Water Supply System, Revenue Bonds | ||
Series D-1, Insured: AGM | ||
5.00%, due 7/1/35 | 2,000,000 | 2,259,681 |
Series D-6, Insured: NATL-RE | ||
5.00%, due 7/1/36 | 7,500,000 | 8,455,183 |
South Huron Valley Utility Authority, State Of Michigan 2020 Sewage Disposal System Improvement, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/1/34 | 5,185,000 | 6,301,573 |
Thornapple Kellogg School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 5/1/44 | 1,665,000 | 1,984,283 |
Tri-County Area School District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 5/1/30 | 1,225,000 | 1,496,690 |
Insured: AGM | ||
4.00%, due 5/1/31 | 1,285,000 | 1,561,303 |
Insured: AGM | ||
4.00%, due 5/1/32 | 1,350,000 | 1,638,574 |
121,439,970 | ||
Minnesota 0.1% | ||
City of St Paul Minnesota MN, Fairview Health Services, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/37 | 1,000,000 | 1,161,553 |
Minnesota Housing Finance Agency, Residential Housing Finance, Revenue Bonds | ||
Series E, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 1/1/49 | 3,835,000 | 4,285,717 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Minnesota | ||
Minnesota Office of Higher Education, Student Loan Program, Revenue Bonds, Senior Lien | ||
2.65%, due 11/1/38 (c) | $ 3,240,000 | $ 3,358,079 |
8,805,349 | ||
Mississippi 0.0% ‡ | ||
Mississippi Home Corp., Single Family Mortgage Housing, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 12/1/44 | 1,535,000 | 1,695,239 |
Missouri 0.8% | ||
City of Kansas City MO, Improvement Downtown Arena Project, Revenue Bonds | ||
Series E | ||
5.00%, due 4/1/40 | 10,055,000 | 11,571,806 |
Kansas City Industrial Development Authority, International Airport Terminal Modernization Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 3/1/50 (c) | 15,000,000 | 17,460,352 |
Kansas City Industrial Development Authority, Airport, Revenue Bonds (c) | ||
Series A, Insured: AGM | ||
4.00%, due 3/1/50 | 2,280,000 | 2,653,973 |
Series B | ||
5.00%, due 3/1/46 | 6,430,000 | 7,938,385 |
Missouri Housing Development Commission, First Place Homeownership Loan Program, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 5/1/47 | 6,340,000 | 7,093,580 |
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 5/1/49 | 3,425,000 | 3,802,034 |
Missouri State Health & Educational Facilities Authority, BJC Healthcare System, Revenue Bonds | ||
4.50%, due 1/1/39 | 2,865,000 | 3,120,216 |
Springfield School District No. R-12, Unlimited General Obligation | ||
4.00%, due 3/1/35 | 3,140,000 | 3,800,199 |
St Louis Municipal Finance Corp., Convention Center Expansion, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/49 | 5,260,000 | 6,597,544 |
State of Missouri, SSM Health Care, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/30 | 4,000,000 | 4,511,379 |
68,549,468 | ||
Montana 0.3% | ||
Montana Board of Housing, Single Family Mortgage, Revenue Bonds | ||
Series B | ||
3.40%, due 12/1/33 | 1,135,000 | 1,241,732 |
Series B | ||
3.60%, due 6/1/37 | 1,470,000 | 1,609,786 |
Montana Facility Finance Authority, Benefis Health System Obligated Group, Revenue Bonds | ||
5.00%, due 2/15/30 | 1,790,000 | 2,167,712 |
5.00%, due 2/15/31 | 1,500,000 | 1,809,279 |
5.00%, due 2/15/33 | 1,320,000 | 1,584,974 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Montana | ||
Montana Facility Finance Authority, Benefis Health System Obligated Group, Revenue Bonds | ||
5.00%, due 2/15/34 | $ 1,200,000 | $ 1,439,951 |
Silver Bow County School District No. 1, School Building, Unlimited General Obligation | ||
4.00%, due 7/1/30 | 1,745,000 | 2,107,959 |
4.00%, due 7/1/32 | 1,945,000 | 2,324,331 |
4.00%, due 7/1/33 | 2,020,000 | 2,406,686 |
Yellowstone County K-12 School District No. 26 Lockwood, School District No. 26 Lockwood, Unlimited General Obligation | ||
5.00%, due 7/1/29 | 2,260,000 | 2,883,646 |
5.00%, due 7/1/30 | 2,500,000 | 3,169,512 |
5.00%, due 7/1/31 | 3,015,000 | 3,807,730 |
5.00%, due 7/1/32 | 3,300,000 | 4,157,146 |
30,710,444 | ||
Nebraska 0.5% | ||
Central Plains Energy, Nebraska Gas Project No. 3, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/42 | 14,495,000 | 22,052,713 |
5.00%, due 9/1/42 | 13,960,000 | 14,675,026 |
Nebraska Investment Finance Authority, Single Family Housing, Revenue Bonds | ||
Series C | ||
4.00%, due 9/1/48 | 4,095,000 | 4,491,695 |
41,219,434 | ||
Nevada 1.4% | ||
Clark County School District, Limited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 6/15/37 | 5,000,000 | 5,566,526 |
Series B, Insured: BAM | ||
3.00%, due 6/15/39 | 6,340,000 | 6,969,318 |
Series C | ||
4.00%, due 6/15/32 | 5,000,000 | 5,630,949 |
Series B, Insured: AGM | ||
4.00%, due 6/15/35 | 5,395,000 | 6,460,065 |
Series C | ||
4.00%, due 6/15/37 | 4,845,000 | 5,602,434 |
Series B, Insured: BAM | ||
5.00%, due 6/15/34 | 5,750,000 | 7,342,872 |
County of Clark NV, Park Improvement, Limited General Obligation | ||
4.00%, due 12/1/35 | 8,425,000 | 10,067,627 |
4.00%, due 12/1/36 | 5,000,000 | 5,965,656 |
Las Vegas Convention & Visitors Authority, Convention Center Expansion, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/49 | 9,800,000 | 11,157,801 |
Series B | ||
5.00%, due 7/1/31 | 1,245,000 | 1,562,905 |
Series B | ||
5.00%, due 7/1/43 | 20,000,000 | 24,460,358 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Nevada | ||
Las Vegas Valley Water District, Water Improvement, Limited General Obligation | ||
Series A | ||
5.00%, due 6/1/46 | $ 3,665,000 | $ 4,348,702 |
Washoe County School District, Limited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 6/1/33 | 3,000,000 | 3,383,574 |
Series A, Insured: BAM | ||
3.00%, due 6/1/34 | 2,490,000 | 2,790,081 |
Washoe County School District, School Improvement Bonds, Limited General Obligation | ||
Series A | ||
4.00%, due 10/1/49 | 20,000,000 | 23,593,544 |
124,902,412 | ||
New Hampshire 0.1% | ||
City of Manchester NH, General Airport, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 1/1/26 | 1,800,000 | 1,834,778 |
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/50 (c) | 5,525,000 | 6,269,329 |
8,104,107 | ||
New Jersey 4.6% | ||
Atlantic County Improvement Authority (The), Stockton University, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/31 | 2,670,000 | 3,173,807 |
Series A, Insured: AGM | ||
5.00%, due 7/1/32 | 1,305,000 | 1,548,490 |
Series A, Insured: AGM | ||
5.00%, due 7/1/33 | 1,395,000 | 1,652,345 |
City of Atlantic City NJ, Unlimited General Obligation | ||
Series B, Insured: AGM State Aid Withholding | ||
5.00%, due 3/1/32 | 3,400,000 | 4,143,260 |
New Brunswick Parking Authority, City Guaranteed Parking, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 9/1/28 | 2,500,000 | 3,035,899 |
Series A, Insured: BAM | ||
5.00%, due 9/1/29 | 2,370,000 | 2,874,072 |
Series A, Insured: BAM | ||
5.00%, due 9/1/30 | 4,605,000 | 5,576,750 |
Series A, Insured: BAM | ||
5.00%, due 9/1/31 | 6,780,000 | 8,199,428 |
New Jersey Building Authority, Unrefunded, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 6/15/25 | 2,015,000 | 2,370,673 |
Series A, Insured: BAM | ||
5.00%, due 6/15/28 | 1,805,000 | 2,183,313 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New Jersey | ||
New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds | ||
Series E | ||
0.85%, due 12/1/25 (c) | $ 1,550,000 | $ 1,549,005 |
New Jersey Economic Development Authority, The Goethals Bridge Replacement Project, Revenue Bonds (c) | ||
5.00%, due 1/1/28 | 1,000,000 | 1,114,881 |
5.50%, due 1/1/26 | 1,000,000 | 1,131,002 |
New Jersey Economic Development Authority, State of New Jersey Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/28 | 2,000,000 | 2,490,106 |
New Jersey Educational Facilities Authority, Stockton University, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/29 | 4,775,000 | 5,752,663 |
Series A, Insured: BAM | ||
5.00%, due 7/1/30 | 5,000,000 | 6,019,401 |
Series A, Insured: BAM | ||
5.00%, due 7/1/31 | 3,000,000 | 3,606,190 |
New Jersey Health Care Facilities Financing Authority, Hackensack Meridian Health, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/38 | 10,000,000 | 12,243,352 |
New Jersey Higher Education Student Assistance Authority, Subordinate Student loan, Revenue Bonds | ||
Series C | ||
4.00%, due 12/1/48 (c) | 2,250,000 | 2,448,256 |
New Jersey Housing & Mortgage Finance Agency, Single-Family Home Mortgage, Revenue Bonds | ||
Series E | ||
3.50%, due 4/1/51 | 26,640,000 | 29,711,081 |
Series C | ||
4.75%, due 10/1/50 | 10,335,000 | 11,714,658 |
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
Series C, Insured: NATL-RE | ||
(zero coupon), due 12/15/30 | 20,000,000 | 17,189,080 |
Series C, Insured: AGM | ||
(zero coupon), due 12/15/34 | 30,000,000 | 23,654,199 |
Series A | ||
5.00%, due 12/15/26 | 4,500,000 | 5,506,764 |
Series BB | ||
5.00%, due 6/15/44 | 11,255,000 | 13,986,926 |
Series AA | ||
5.00%, due 6/15/46 | 7,440,000 | 9,223,756 |
Series AA | ||
5.25%, due 6/15/43 | 10,205,000 | 12,883,298 |
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement, Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/28 | 4,800,000 | 5,750,580 |
Series A | ||
5.00%, due 6/15/29 | 8,380,000 | 9,989,606 |
New Jersey Transportation Trust Fund Authority, Transportation Program, Revenue Bonds | ||
Series AA | ||
5.00%, due 6/15/44 | 13,255,000 | 14,294,522 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New Jersey | ||
New Jersey Turnpike Authority, Revenue Bonds | ||
Series E | ||
5.00%, due 1/1/45 | $ 2,000,000 | $ 2,296,674 |
Newark Housing Authority Scholarship Foundation A New Jersey Non (The), Police Facility, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/27 | 500,000 | 584,847 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/29 | 250,000 | 289,227 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/31 | 225,000 | 258,487 |
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/28 | 750,000 | 922,628 |
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/38 | 1,740,000 | 2,103,895 |
South Jersey Transportation Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 11/1/31 | 1,750,000 | 2,278,259 |
Series A, Insured: AGM | ||
5.00%, due 11/1/32 | 1,500,000 | 1,947,149 |
Series A, Insured: BAM | ||
5.00%, due 11/1/45 | 2,000,000 | 2,551,135 |
State of New Jersey, Unlimited General Obligation | ||
2.00%, due 6/1/32 | 3,010,000 | 3,073,957 |
2.00%, due 6/1/34 | 12,505,000 | 12,523,095 |
State of New Jersey, COVID-19 General Obligation Emergency Bonds, Unlimited General Obligation | ||
Series A | ||
4.00%, due 6/1/30 | 32,060,000 | 39,880,495 |
Series A | ||
4.00%, due 6/1/31 | 31,800,000 | 40,160,910 |
Series A | ||
5.00%, due 6/1/28 | 15,000,000 | 19,311,849 |
Series A | ||
5.00%, due 6/1/29 | 10,675,000 | 14,073,283 |
State of New Jersey, Various Purposes, Unlimited General Obligation | ||
5.00%, due 6/1/40 | 5,000,000 | 6,157,904 |
5.00%, due 6/1/41 | 11,500,000 | 14,137,471 |
5.00%, due 6/1/42 | 10,000,000 | 12,270,190 |
Tobacco Settlement Financing Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/31 | 3,000,000 | 3,782,328 |
Series A | ||
5.00%, due 6/1/33 | 6,500,000 | 8,147,699 |
Series A | ||
5.00%, due 6/1/34 | 1,500,000 | 1,875,033 |
Series A | ||
5.00%, due 6/1/36 | 6,000,000 | 7,467,076 |
421,110,954 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New Mexico 0.1% | ||
City of Albuquerque NM, Gross Receipts Lodgers Tax, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/36 | $ 2,490,000 | $ 3,007,362 |
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare Services, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/44 | 5,000,000 | 6,366,819 |
9,374,181 | ||
New York 20.5% | ||
Build NYC Resource Corp., Royal Charter Properties, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/15/21 | 1,075,000 | 1,093,403 |
City of New York NY, Unlimited General Obligation | ||
Series A-1 | ||
3.00%, due 8/1/36 | 10,520,000 | 11,675,310 |
Series A, A-1 | ||
4.00%, due 8/1/38 | 10,000,000 | 11,982,629 |
Series D-1, Insured: BAM | ||
4.00%, due 3/1/41 | 12,500,000 | 15,014,960 |
Series C | ||
4.00%, due 8/1/41 | 2,300,000 | 2,773,047 |
Series D-1, Insured: BAM | ||
4.00%, due 3/1/50 | 22,760,000 | 26,927,577 |
Series I | ||
5.00%, due 8/1/23 | 3,675,000 | 3,856,110 |
Series A-1 | ||
5.00%, due 8/1/39 | 4,000,000 | 5,136,247 |
Series B-1 | ||
5.00%, due 10/1/42 | 2,870,000 | 3,672,719 |
Series F-1 | ||
5.00%, due 4/1/43 | 7,455,000 | 9,246,732 |
Series B-1 | ||
5.00%, due 10/1/43 | 3,555,000 | 4,538,483 |
Series B-1 | ||
5.25%, due 10/1/32 | 20,000,000 | 25,382,622 |
County of Nassau NY, Limited General Obligation | ||
Series A | ||
2.00%, due 12/10/21 | 50,000,000 | 50,345,825 |
Series C, Insured: BAM | ||
5.00%, due 4/1/37 | 2,525,000 | 3,012,940 |
Series B, Insured: AGM | ||
5.00%, due 4/1/44 | 5,000,000 | 6,384,978 |
County of Suffolk NY, Public Improvement, Limited General Obligation | ||
Series B, Insured: AGM | ||
3.00%, due 10/15/31 | 4,460,000 | 4,887,978 |
Series B, Insured: AGM | ||
5.00%, due 10/15/28 | 4,020,000 | 5,101,534 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
Long Island Power Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 9/1/34 | $ 5,000,000 | $ 5,973,535 |
Series A, Insured: BAM | ||
5.00%, due 9/1/39 | 10,000,000 | 11,324,589 |
Series A, Insured: BAM | ||
5.00%, due 9/1/44 | 10,000,000 | 11,275,535 |
Long Island Power Authority, Electric System, Revenue Bonds | ||
5.00%, due 9/1/39 | 1,875,000 | 2,384,111 |
Series B | ||
5.00%, due 9/1/45 | 8,970,000 | 10,459,513 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series A-2S | ||
4.00%, due 2/1/22 | 12,500,000 | 12,732,087 |
Series D-1 | ||
5.00%, due 9/1/22 | 25,560,000 | 26,874,466 |
Series D-1 | ||
5.00%, due 11/15/26 | 2,785,000 | 3,306,067 |
Series D | ||
5.00%, due 11/15/26 | 2,000,000 | 2,114,676 |
Series A-1 | ||
5.00%, due 11/15/37 | 1,300,000 | 1,490,104 |
Series C | ||
5.00%, due 11/15/38 | 7,500,000 | 8,017,400 |
5.00%, due 11/15/38 | 5,385,000 | 5,859,398 |
Series A-1 | ||
5.00%, due 11/15/40 | 4,890,000 | 5,594,661 |
Series C | ||
5.00%, due 11/15/42 | 10,000,000 | 10,668,226 |
Series E | ||
5.00%, due 11/15/43 | 2,500,000 | 2,711,723 |
Series B | ||
5.00%, due 11/15/43 | 1,575,000 | 1,679,488 |
Series C-1 | ||
5.25%, due 11/15/29 | 2,230,000 | 2,650,806 |
Series B | ||
5.25%, due 11/15/35 | 2,870,000 | 3,220,480 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series A-1, Insured: AGM | ||
4.00%, due 11/15/42 | 7,500,000 | 8,942,362 |
Series A-1, Insured: AGM | ||
4.00%, due 11/15/44 | 4,845,000 | 5,750,343 |
Series C, Insured: AGM | ||
4.00%, due 11/15/48 | 10,715,000 | 12,655,488 |
Series A-1 | ||
5.00%, due 11/15/41 | 2,910,000 | 3,403,615 |
Series D | ||
5.00%, due 11/15/45 | 12,500,000 | 15,914,456 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
Metropolitan Transportation Authority, Climate Certified Green Bond, Revenue Bonds | ||
Series C, Insured: AGM | ||
4.00%, due 11/15/47 | $ 1,880,000 | $ 2,222,246 |
Series C, Insured: BAM | ||
5.00%, due 11/15/44 | 14,845,000 | 18,839,116 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/22 | 40,210,000 | 41,322,514 |
Series A | ||
5.00%, due 11/15/22 | 6,095,000 | 6,468,305 |
Series A | ||
5.00%, due 11/15/26 | 2,095,000 | 2,578,856 |
Series B, Insured: FGIC | ||
5.25%, due 11/15/21 | 400,000 | 405,752 |
Series A | ||
5.25%, due 11/15/27 | 2,295,000 | 2,835,704 |
Series A | ||
5.25%, due 11/15/33 | 8,750,000 | 10,755,943 |
Series A | ||
5.25%, due 11/15/34 | 10,000,000 | 12,244,083 |
Series A | ||
5.25%, due 11/15/36 | 10,515,000 | 12,832,099 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Green Bond, Revenue Bonds | ||
Series B-2 | ||
5.00%, due 11/15/28 | 3,040,000 | 3,822,830 |
Series B-2 | ||
5.00%, due 11/15/33 | 1,735,000 | 2,143,384 |
Series B-1 | ||
5.00%, due 11/15/36 | 13,340,000 | 16,031,961 |
New York City Housing Development Corp., Green Bond, Revenue Bonds | ||
Insured: FHA 542(C) | ||
2.25%, due 11/1/36 | 4,700,000 | 4,799,514 |
New York City Housing Development Corp., Multi-Family Housing, Green Bond, Revenue Bonds | ||
Series J | ||
3.05%, due 11/1/49 | 12,790,000 | 13,401,798 |
Series G-1-B | ||
3.05%, due 5/1/50 | 24,270,000 | 25,421,175 |
Series J | ||
3.15%, due 11/1/54 | 23,145,000 | 24,313,195 |
New York City Housing Development Corp., Multi-Family Housing, Revenue Bonds | ||
Series E-1-C | ||
4.95%, due 11/1/46 | 4,625,000 | 5,431,312 |
New York City Industrial Development Agency, Yankee Stadium Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 3/1/31 | 4,075,000 | 5,070,900 |
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series A | ||
3.00%, due 11/1/37 | 10,000,000 | 11,069,081 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series B-1 | ||
4.00%, due 11/1/37 | $ 30,300,000 | $ 36,721,473 |
Series C | ||
4.00%, due 5/1/38 | 14,250,000 | 17,420,300 |
Series C-1 | ||
4.00%, due 11/1/38 | 11,380,000 | 13,624,593 |
Series B-1 | ||
4.00%, due 11/1/38 | 7,875,000 | 9,523,251 |
Series C | ||
4.00%, due 5/1/40 | 6,835,000 | 8,318,159 |
Series B-1 | ||
4.00%, due 11/1/41 | 11,500,000 | 13,818,041 |
Series C | ||
4.00%, due 5/1/42 | 10,000,000 | 12,096,302 |
Series B-1 | ||
4.00%, due 11/1/42 | 12,315,000 | 14,761,233 |
Series F-1 | ||
5.00%, due 5/1/32 | 4,000,000 | 4,953,640 |
Series A-1 | ||
5.00%, due 5/1/33 | 10,000,000 | 12,055,018 |
Series A-2 | ||
5.00%, due 8/1/34 | 7,795,000 | 9,698,203 |
Series E-1 | ||
5.00%, due 2/1/37 | 5,000,000 | 5,953,774 |
Series E-1 | ||
5.00%, due 2/1/41 | 2,500,000 | 2,874,340 |
Series F-1 | ||
5.00%, due 5/1/42 | 11,500,000 | 14,114,723 |
New York City Transitional Finance Authority Building Aid, Revenue Bonds | ||
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/33 | 6,060,000 | 7,024,545 |
Series S-2, Insured: State Aid Withholding | ||
5.00%, due 7/15/33 | 13,350,000 | 16,668,830 |
Series S-2, Insured: State Aid Withholding | ||
5.00%, due 7/15/34 | 3,000,000 | 3,535,768 |
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/36 | 10,000,000 | 11,558,059 |
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/43 | 8,555,000 | 10,164,622 |
New York City Transitional Finance Authority Future Tax Secured, Revenue Bonds | ||
Series E-1 | ||
4.00%, due 2/1/42 | 6,500,000 | 7,877,772 |
Series F-1 | ||
5.00%, due 2/1/34 | 8,165,000 | 8,741,257 |
Series A-2 | ||
5.00%, due 5/1/36 | 5,000,000 | 6,450,172 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
New York City Water & Sewer System, Second General Resolution, Revenue Bonds | ||
Series DD-2 | ||
3.50%, due 6/15/40 | $ 2,000,000 | $ 2,256,301 |
Series AA-1 | ||
3.50%, due 6/15/48 | 25,500,000 | 29,032,716 |
Series FF-2 | ||
4.00%, due 6/15/41 | 2,500,000 | 2,975,934 |
Series DD-3 | ||
4.00%, due 6/15/42 | 5,000,000 | 5,999,052 |
Series AA-2 | ||
4.00%, due 6/15/43 | 4,695,000 | 5,671,174 |
Series CC-1 | ||
4.00%, due 6/15/49 | 11,500,000 | 13,658,491 |
Series EE | ||
5.00%, due 6/15/33 | 3,000,000 | 3,728,465 |
Series EE | ||
5.00%, due 6/15/40 | 15,585,000 | 19,497,606 |
Series EE | ||
5.00%, due 6/15/47 | 11,710,000 | 12,696,790 |
Series CC-1 | ||
5.00%, due 6/15/47 | 10,000,000 | 11,243,035 |
New York City Water & Sewer System, Revenue Bonds | ||
Series EE | ||
4.25%, due 6/15/47 | 10,000,000 | 10,670,777 |
New York Convention Center Development Corp., Hotel Unit Fee, Revenue Bonds, Sub. Lien | ||
Series B, Insured: BAM | ||
(zero coupon), due 11/15/36 | 5,050,000 | 3,808,316 |
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
2.45%, due 9/15/69 | 12,925,000 | 13,710,972 |
New York Liberty Development Corp., Revenue Bonds | ||
Series 1WTC | ||
5.00%, due 12/15/41 | 12,315,000 | 12,517,980 |
New York Liberty Development Corp., 4 World Trade Center Project, Revenue Bonds | ||
5.75%, due 11/15/51 | 18,940,000 | 19,223,573 |
New York State Dormitory Authority, Revenue Bonds | ||
Series A | ||
3.00%, due 3/15/38 | 8,000,000 | 8,887,004 |
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series D | ||
4.00%, due 2/15/39 | 10,480,000 | 12,567,018 |
Series A | ||
4.00%, due 3/15/40 | 32,000,000 | 38,916,384 |
Series D | ||
4.00%, due 2/15/47 | 25,250,000 | 29,824,133 |
Series A | ||
5.00%, due 3/15/31 | 13,000,000 | 17,602,753 |
Series E | ||
5.00%, due 3/15/34 | 4,190,000 | 4,951,150 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series B | ||
5.00%, due 2/15/38 | $ 13,490,000 | $ 16,818,029 |
Series D | ||
5.00%, due 2/15/48 | 10,200,000 | 13,031,092 |
Series A | ||
5.25%, due 3/15/39 | 1,840,000 | 2,373,754 |
New York State Dormitory Authority, Sales Tax, Revenue Bonds | ||
Series C | ||
4.00%, due 3/15/44 | 11,385,000 | 13,220,251 |
Series B | ||
5.00%, due 3/15/38 | 7,490,000 | 9,240,817 |
Series A | ||
5.00%, due 3/15/40 | 8,280,000 | 10,191,526 |
Series A | ||
5.00%, due 3/15/40 | 23,580,000 | 29,656,241 |
Series E | ||
5.00%, due 3/15/40 | 5,000,000 | 6,382,487 |
Series A | ||
5.00%, due 3/15/43 | 7,500,000 | 9,404,770 |
Series A | ||
5.00%, due 3/15/44 | 5,000,000 | 6,121,173 |
New York State Dormitory Authority, School District Revenue Financing Program, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/33 | 750,000 | 958,446 |
Series A, Insured: AGM | ||
5.00%, due 10/1/34 | 3,700,000 | 4,719,838 |
New York State Dormitory Authority, University Facilities, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/36 | 1,000,000 | 1,231,933 |
Series A | ||
5.00%, due 7/1/38 | 1,000,000 | 1,230,131 |
New York State Thruway Authority, Revenue Bonds | ||
Series L | ||
3.50%, due 1/1/37 | 1,500,000 | 1,697,150 |
Series N | ||
4.00%, due 1/1/41 | 9,000,000 | 10,762,023 |
Series N | ||
4.00%, due 1/1/45 | 7,000,000 | 8,300,719 |
Series L | ||
5.00%, due 1/1/31 | 3,550,000 | 4,465,771 |
Series L | ||
5.00%, due 1/1/34 | 2,430,000 | 3,028,159 |
Series N | ||
5.00%, due 1/1/34 | 10,855,000 | 14,243,770 |
Series N | ||
5.00%, due 1/1/35 | 5,000,000 | 6,535,848 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
New York State Thruway Authority, Revenue Bonds | ||
Series N | ||
5.00%, due 1/1/36 | $ 16,260,000 | $ 21,196,708 |
Series N | ||
5.00%, due 1/1/38 | 5,665,000 | 7,333,570 |
New York State Thruway Authority, Junior Indebtedness Obligations, Revenue Bonds | ||
Series B | ||
4.00%, due 1/1/39 | 11,555,000 | 13,845,281 |
Series B | ||
4.00%, due 1/1/45 | 8,900,000 | 10,515,424 |
Series B | ||
4.00%, due 1/1/50 | 14,250,000 | 16,763,261 |
New York State Thruway Authority, State Personal Income Tax, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 3/15/41 | 17,725,000 | 21,498,536 |
Series A-1 | ||
4.00%, due 3/15/42 | 23,020,000 | 27,820,418 |
Series A-1 | ||
4.00%, due 3/15/43 | 15,000,000 | 18,077,175 |
New York State Thruway Authority, General Revenue Junior Indebtedness Obligation, Revenue Bonds | ||
Series B, Insured: AGM | ||
4.00%, due 1/1/50 | 10,940,000 | 12,963,479 |
New York State Urban Development Corp., State Personal Income Tax, Revenue Bonds | ||
Series C | ||
3.00%, due 3/15/40 | 18,965,000 | 20,837,483 |
Series E | ||
4.00%, due 3/15/34 | 15,000,000 | 18,288,381 |
Series C | ||
4.00%, due 3/15/42 | 4,635,000 | 5,554,958 |
Series C | ||
4.00%, due 3/15/49 | 4,000,000 | 4,735,109 |
Series A | ||
5.00%, due 3/15/30 | 12,350,000 | 14,816,572 |
Series A | ||
5.00%, due 3/15/43 | 10,360,000 | 12,996,879 |
5.00%, due 3/15/47 | 5,000,000 | 6,446,775 |
New York State Urban Development Corp., Sales Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/41 | 10,000,000 | 12,830,375 |
New York Transportation Development Corp., Laguardia Airport Terminal B Redevelopment Project, Revenue Bonds (c) | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/31 | 10,925,000 | 12,107,073 |
Series A, Insured: AGM | ||
4.00%, due 7/1/36 | 24,800,000 | 27,339,495 |
Onondaga County Trust for Cultural Resources, Syracuse University Project, Revenue Bonds | ||
4.00%, due 12/1/49 | 3,000,000 | 3,573,515 |
5.00%, due 12/1/43 | 18,995,000 | 24,662,850 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
Port Authority of New York & New Jersey, Revenue Bonds | ||
Series 222 | ||
4.00%, due 7/15/37 | $ 4,250,000 | $ 5,187,372 |
Series 222 | ||
4.00%, due 7/15/39 | 8,915,000 | 10,812,902 |
Series 222 | ||
4.00%, due 7/15/40 | 2,000,000 | 2,419,218 |
4.00%, due 11/1/41 (c) | 5,395,000 | 6,459,257 |
Series 209 | ||
5.00%, due 7/15/30 | 2,475,000 | 3,180,888 |
Series 179 | ||
5.00%, due 12/1/34 | 7,000,000 | 7,771,629 |
Port Authority of New York & New Jersey, Consolidated 218th, Revenue Bonds (c) | ||
Series 218 | ||
4.00%, due 11/1/37 | 1,720,000 | 2,074,067 |
Series 218 | ||
5.00%, due 11/1/44 | 3,190,000 | 4,000,131 |
Series 218 | ||
5.00%, due 11/1/49 | 3,500,000 | 4,368,281 |
Port Authority of New York & New Jersey, Consolidated 214th, Revenue Bonds | ||
Series 214 | ||
4.00%, due 9/1/43 (c) | 11,355,000 | 13,496,791 |
Port Authority of New York & New Jersey, Consolidated 172nd, Revenue Bonds, Second Series | ||
Series One Hundered Seventy - Second Series | ||
4.25%, due 10/1/32 | 5,000,000 | 5,129,348 |
Port Authority of New York & New Jersey, Consolidated 197th, Revenue Bonds (c) | ||
Series 197 | ||
5.00%, due 11/15/34 | 12,500,000 | 15,153,650 |
Series 197 | ||
5.00%, due 11/15/35 | 10,000,000 | 12,105,654 |
Port Authority of New York & New Jersey, Consolidated 221st, Revenue Bonds | ||
Series 221 | ||
5.00%, due 7/15/35 (c) | 3,000,000 | 3,900,122 |
Rensselaer City School District, Certificate Participation | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/30 | 1,880,000 | 2,246,389 |
Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/32 | 2,000,000 | 2,386,638 |
Suffolk County Water Authority, Water System, Revenue Bonds | ||
Series B | ||
3.00%, due 6/1/44 | 4,000,000 | 4,367,162 |
Triborough Bridge & Tunnel Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 11/15/35 | 8,560,000 | 10,587,935 |
Series B | ||
5.00%, due 11/15/38 | 3,600,000 | 4,445,263 |
Series A | ||
5.00%, due 11/15/43 | 6,000,000 | 7,627,679 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
New York | ||
Triborough Bridge & Tunnel Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/45 | $ 12,540,000 | $ 15,573,259 |
Triborough Bridge & Tunnel Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
5.00%, due 5/15/51 | 20,000,000 | 26,290,778 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/46 | 7,855,000 | 9,748,284 |
Series A | ||
5.00%, due 11/15/49 | 17,500,000 | 22,093,948 |
Series A | ||
5.00%, due 11/15/49 | 33,500,000 | 43,609,392 |
TSASC, Inc., Tobacco Settlement Bonds, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/34 | 6,990,000 | 8,471,885 |
Series A | ||
5.00%, due 6/1/35 | 2,865,000 | 3,466,998 |
1,860,231,855 | ||
North Dakota 0.1% | ||
State Board of Higher Education of the State of North Dakota, University of North Dakota Housing & Auxiliary Facilities, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 4/1/44 | 4,000,000 | 4,696,722 |
Ohio 0.7% | ||
Akron Bath Copley Joint Township Hospital District, Children's Hospital Medical Center of Akron, Revenue Bonds | ||
5.00%, due 11/15/42 | 7,000,000 | 7,249,059 |
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
Series A-2, Class 1 | ||
4.00%, due 6/1/37 | 2,000,000 | 2,418,768 |
Series A-2, Class 1 | ||
5.00%, due 6/1/36 | 1,000,000 | 1,300,158 |
Clermont County Port Authority, West Clermont Local School District Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/1/32 | 2,200,000 | 2,592,753 |
Insured: BAM | ||
5.00%, due 12/1/33 | 1,335,000 | 1,570,836 |
Cleveland-Cuyahoga County Port Authority, Annual Appropriation Bonds, Revenue Bonds | ||
6.00%, due 11/15/25 | 1,980,000 | 1,988,846 |
County of Hamilton OH, Christ Hospital Project, Revenue Bonds | ||
5.50%, due 6/1/42 | 2,000,000 | 2,089,337 |
Ohio Higher Educational Facility Commission, Oberlin College Project, Revenue Bonds | ||
5.00%, due 10/1/31 | 2,800,000 | 3,068,235 |
Ohio Housing Finance Agency, Residential Mortgage, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.50%, due 9/1/48 | 4,855,000 | 5,403,353 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Ohio | ||
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds | ||
4.00%, due 1/1/46 | $ 11,000,000 | $ 12,965,209 |
State of Ohio, Higher Education, Unlimited General Obligation | ||
Series A | ||
5.00%, due 5/1/39 | 2,215,000 | 2,781,579 |
University of Cincinnati, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/45 | 13,025,000 | 16,085,957 |
59,514,090 | ||
Oklahoma 0.5% | ||
Garfield County Educational Facilities Authority, Enid Public Schools Project, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/26 | 1,800,000 | 2,199,947 |
Series A | ||
5.00%, due 9/1/27 | 3,780,000 | 4,596,602 |
Series A | ||
5.00%, due 9/1/28 | 5,000,000 | 6,056,106 |
Series A | ||
5.00%, due 9/1/29 | 4,620,000 | 5,579,957 |
Lincoln County Educational Facilities Authority, Stroud Public Schools Project, Revenue Bonds | ||
5.00%, due 9/1/28 | 3,200,000 | 3,875,908 |
5.00%, due 9/1/29 | 2,370,000 | 2,862,445 |
Oklahoma Housing Finance Agency, Revenue Bonds | ||
Series A | ||
4.75%, due 9/1/48 | 2,500,000 | 2,814,395 |
Oklahoma Municipal Power Authority, Power Suply System, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 1/1/47 | 7,044,000 | 8,407,285 |
Weatherford Industrial Trust, Custer County Independent School District No. 26 Weatherford, Revenue Bonds | ||
5.00%, due 3/1/31 | 1,820,000 | 2,324,630 |
5.00%, due 3/1/33 | 2,500,000 | 3,174,280 |
41,891,555 | ||
Oregon 0.2% | ||
Port of Portland Airport OR, Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/37 (c) | 10,550,000 | 13,626,561 |
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Revenue Bonds | ||
Series C | ||
4.50%, due 7/1/49 | 7,625,000 | 8,420,638 |
22,047,199 | ||
Pennsylvania 2.3% | ||
City of Philadelphia PA, Unlimited General Obligation | ||
Series B | ||
5.00%, due 2/1/38 | 5,650,000 | 7,211,316 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Pennsylvania | ||
City of Philadelphia PA, Water & Wastewater, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/47 | $ 12,000,000 | $ 14,724,609 |
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/39 | 6,000,000 | 6,951,141 |
Insured: BAM | ||
5.00%, due 6/1/31 | 10,000,000 | 12,572,407 |
Commonwealth of Pennsylvania, Unlimited General Obligation, First Series | ||
3.00%, due 5/15/34 | 16,470,000 | 18,824,200 |
3.00%, due 5/15/35 | 5,000,000 | 5,702,102 |
Series First | ||
4.00%, due 3/1/35 | 5,000,000 | 5,886,232 |
DuBois Hospital Authority, Penn Highlands Healthcare Obligated Group, Revenue Bonds | ||
4.00%, due 7/15/50 | 6,000,000 | 6,738,935 |
Gateway School District Alleghany County, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 10/15/43 | 2,500,000 | 2,756,142 |
Monroeville Finance Authority, UPMC Obligated Group, Revenue Bonds | ||
4.25%, due 2/15/42 | 12,000,000 | 12,481,488 |
Pennsylvania Economic Development Financing Authority, UPMC Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/36 | 4,965,000 | 5,802,254 |
Series A | ||
4.00%, due 11/15/42 | 7,500,000 | 8,646,278 |
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Revenue Bonds | ||
4.00%, due 8/15/44 | 13,355,000 | 15,831,667 |
Pennsylvania Turnpike Commission, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 12/1/44 | 10,000,000 | 12,859,200 |
Series A-1 | ||
5.00%, due 12/1/46 | 5,705,000 | 6,816,880 |
Series E, Insured: AGM-CR | ||
6.375%, due 12/1/38 | 3,100,000 | 4,143,247 |
Philadelphia Gas Works Co., 1998 General Ordinance, Revenue Bonds | ||
Series 14T | ||
5.00%, due 10/1/31 | 2,300,000 | 2,789,366 |
Pittsburgh Water & Sewer Authority, Revenue Bonds, First Lien | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/44 | 4,530,000 | 5,760,659 |
State Public School Building Authority, Philadelphia Community College, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 6/15/28 | 5,505,000 | 6,388,473 |
State Public School Building Authority, School District of Philadelphia (The), Revenue Bonds | ||
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/31 | 30,000,000 | 36,693,333 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Pennsylvania | ||
Upper Merion Area School District, Limited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
3.00%, due 1/15/41 | $ 1,300,000 | $ 1,439,643 |
Series A, Insured: State Aid Withholding | ||
3.00%, due 1/15/42 | 2,000,000 | 2,208,285 |
Series A, Insured: State Aid Withholding | ||
3.00%, due 1/15/43 | 3,000,000 | 3,307,013 |
206,534,870 | ||
Puerto Rico 1.1% | ||
Commonwealth of Puerto Rico, Public Improvement, Unlimited General Obligation | ||
Series A, Insured: AGC | ||
5.00%, due 7/1/26 | 575,000 | 591,036 |
Series A, Insured: AGC | ||
5.00%, due 7/1/27 | 525,000 | 539,642 |
Series A-4, Insured: AGM | ||
5.00%, due 7/1/31 | 5,170,000 | 5,314,186 |
Series A, Insured: AGM | ||
5.00%, due 7/1/35 | 34,920,000 | 35,956,928 |
Series C, Insured: AGM | ||
5.375%, due 7/1/28 | 700,000 | 720,335 |
Series C, Insured: AGM | ||
5.75%, due 7/1/37 | 1,150,000 | 1,186,075 |
Series C-9, Insured: NATL-RE | ||
6.00%, due 7/1/27 | 2,240,000 | 2,313,385 |
Commonwealth of Puerto Rico, Unrefunded, Unlimited General Obligation | ||
Series A, Insured: AGC | ||
5.00%, due 7/1/34 | 285,000 | 292,948 |
Series B, Insured: AGC | ||
5.25%, due 7/1/32 | 500,000 | 514,525 |
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGC | ||
6.125%, due 7/1/24 | 420,000 | 457,258 |
Puerto Rico Convention Center District Authority, Hotel Occupancy Tax, Revenue Bonds | ||
Series A, Insured: AGC | ||
4.50%, due 7/1/36 | 4,855,000 | 4,946,465 |
Puerto Rico Electric Power Authority, Revenue Bonds | ||
Series DDD, Insured: AGM | ||
3.625%, due 7/1/23 | 3,115,000 | 3,122,130 |
Series UU, Insured: AGC | ||
4.25%, due 7/1/27 | 2,345,000 | 2,350,784 |
Series NN, Insured: NATL-RE | ||
4.75%, due 7/1/33 | 1,140,000 | 1,158,159 |
Series RR, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 1,450,000 | 1,470,967 |
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/23 | 1,105,000 | 1,123,640 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Puerto Rico | ||
Puerto Rico Electric Power Authority, Revenue Bonds | ||
Series SS, Insured: NATL-RE | ||
5.00%, due 7/1/23 | $ 825,000 | $ 838,917 |
Series UU, Insured: AGM | ||
5.00%, due 7/1/23 | 2,290,000 | 2,353,866 |
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/24 | 2,915,000 | 2,978,211 |
Series UU, Insured: AGM | ||
5.00%, due 7/1/24 | 4,415,000 | 4,538,129 |
Series TT, Insured: AGM | ||
5.00%, due 7/1/27 | 500,000 | 513,944 |
Series SS, Insured: AGM | ||
5.00%, due 7/1/30 | 550,000 | 565,339 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/26 | 1,875,000 | 2,010,752 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/29 | 1,470,000 | 1,585,015 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/32 | 1,225,000 | 1,321,572 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/34 | 550,000 | 593,486 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/35 | 120,000 | 129,499 |
Puerto Rico Highway & Transportation Authority, Unrefunded, Revenue Bonds | ||
Series D, Insured: AGM | ||
5.00%, due 7/1/27 | 2,240,000 | 2,302,471 |
Series J, Insured: NATL-RE | ||
5.00%, due 7/1/29 | 650,000 | 667,225 |
Puerto Rico Highway & Transportation Authority, Revenue Bonds | ||
Series L, Insured: NATL-RE | ||
5.25%, due 7/1/24 | 2,195,000 | 2,337,947 |
Puerto Rico Municipal Finance Agency, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.75%, due 8/1/22 | 820,000 | 829,179 |
Series A, Insured: AGM | ||
5.00%, due 8/1/21 | 195,000 | 195,000 |
Series A, Insured: AGM | ||
5.00%, due 8/1/27 | 290,000 | 298,088 |
Series A, Insured: AGM | ||
5.00%, due 8/1/30 | 1,440,000 | 1,480,160 |
Series C, Insured: AGC | ||
5.25%, due 8/1/23 | 340,000 | 366,147 |
Puerto Rico Public Buildings Authority, Government Facilities, Revenue Bonds | ||
Series F, Insured: NATL-RE XLCA - ICR Commonwealth | ||
5.25%, due 7/1/23 | 265,000 | 278,394 |
Series K, Insured: AGM State Guaranteed | ||
5.25%, due 7/1/27 | 1,150,000 | 1,183,407 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Puerto Rico | ||
Puerto Rico Public Buildings Authority, Government Facilities, Revenue Bonds | ||
Series M-3, Insured: NATL COMMWLTH GTD | ||
6.00%, due 7/1/26 | $ 300,000 | $ 309,591 |
Series M-3, Insured: NATL COMMWLTH GTD | ||
6.00%, due 7/1/27 | 7,465,000 | 7,709,561 |
Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
Insured: BHAC | ||
(zero coupon), due 8/1/54 | 98,098 | 22,766 |
97,467,129 | ||
Rhode Island 0.3% | ||
City of Cranston RI, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 8/1/37 | 1,335,000 | 1,717,948 |
Providence Public Building Authority, Various Capital Projects, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.875%, due 6/15/26 | 1,565,000 | 1,571,362 |
Rhode Island Health and Educational Building Corp., City of Providence, Revenue Bonds | ||
Series D, Insured: BAM | ||
4.00%, due 5/15/32 | 4,255,000 | 5,359,149 |
Series D, Insured: BAM | ||
4.00%, due 5/15/41 | 2,485,000 | 3,022,499 |
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group, Revenue Bonds | ||
5.00%, due 5/15/26 | 5,000,000 | 5,956,490 |
Rhode Island Health and Educational Building Corp., Public Schools Financing Program, Revenue Bonds | ||
Series B | ||
5.00%, due 5/15/33 | 1,045,000 | 1,336,873 |
Series B | ||
5.00%, due 5/15/34 | 1,095,000 | 1,396,845 |
Series B | ||
5.00%, due 5/15/35 | 1,150,000 | 1,464,495 |
Series B | ||
5.00%, due 5/15/36 | 1,205,000 | 1,530,426 |
Series B | ||
5.00%, due 5/15/37 | 1,265,000 | 1,602,603 |
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity, Revenue Bonds | ||
Series 69-B, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 10/1/48 | 4,390,000 | 4,844,649 |
29,803,339 | ||
South Carolina 2.6% | ||
Patriots Energy Group Financing Agency, Gas Supply, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/48 (b) | 4,355,000 | 4,723,994 |
Piedmont Municipal Power Agency, Revenue Bonds | ||
Series C, Insured: AGC | ||
5.75%, due 1/1/34 | 10,345,000 | 10,385,279 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
South Carolina | ||
South Carolina Public Service Authority, Revenue Bonds | ||
Series A | ||
3.00%, due 12/1/41 | $ 7,550,000 | $ 8,234,938 |
Series A | ||
4.00%, due 12/1/40 | 7,750,000 | 9,252,178 |
Series A | ||
4.00%, due 12/1/42 | 12,870,000 | 15,271,193 |
Series C | ||
5.00%, due 12/1/29 | 5,000,000 | 5,720,035 |
Series A | ||
5.00%, due 12/1/32 | 10,000,000 | 12,008,016 |
Series A | ||
5.00%, due 12/1/43 | 15,000,000 | 19,326,516 |
Series B | ||
5.00%, due 12/1/46 | 3,125,000 | 3,772,148 |
Series A | ||
5.00%, due 12/1/50 | 1,500,000 | 1,731,667 |
Series B | ||
5.00%, due 12/1/56 | 2,500,000 | 2,995,063 |
Series E | ||
5.25%, due 12/1/55 | 27,430,000 | 32,436,450 |
Series E | ||
5.50%, due 12/1/53 | 3,460,000 | 3,853,308 |
South Carolina Public Service Authority, Santee Cooper Project, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/25 | 6,445,000 | 6,545,756 |
Series D | ||
5.00%, due 12/1/26 | 1,215,000 | 1,264,247 |
Series A | ||
5.00%, due 12/1/32 | 3,000,000 | 3,988,719 |
Series C | ||
5.00%, due 12/1/36 | 3,860,000 | 3,918,533 |
Series C, Insured: AGM | ||
5.00%, due 12/1/36 | 2,000,000 | 2,030,663 |
Series D | ||
5.00%, due 12/1/43 | 5,290,000 | 5,506,682 |
South Carolina State Housing Finance & Development Authority, Revenue Bonds | ||
Series A | ||
4.50%, due 7/1/48 | 3,030,000 | 3,363,066 |
South Carolina Transportation Infrastructure Bank, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/35 | 6,110,000 | 7,626,639 |
Series A | ||
5.00%, due 10/1/36 | 15,000,000 | 18,692,985 |
Sumter Two School Facilities, Inc., Sumter School District Project, Revenue Bonds | ||
Series C, Insured: BAM | ||
5.00%, due 12/1/27 | 1,100,000 | 1,283,592 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
South Carolina | ||
University of South Carolina, Campus Village Project, Revenue Bonds | ||
Series A | ||
4.00%, due 5/1/51 | $ 27,270,000 | $ 32,673,030 |
Series A | ||
5.00%, due 5/1/46 | 18,050,000 | 23,549,862 |
240,154,559 | ||
South Dakota 0.1% | ||
South Dakota Conservancy District, State Revolving Fund Program, Revenue Bonds | ||
5.00%, due 8/1/37 | 1,750,000 | 2,225,443 |
5.00%, due 8/1/38 | 3,000,000 | 3,808,027 |
6,033,470 | ||
Tennessee 0.5% | ||
Metropolitan Nashville Airport Authority (The), Revenue Bonds (c) | ||
Series B | ||
4.00%, due 7/1/49 | 2,035,000 | 2,382,950 |
Series B | ||
5.00%, due 7/1/32 | 2,500,000 | 3,273,902 |
Series B | ||
5.00%, due 7/1/33 | 5,700,000 | 7,440,162 |
Series B | ||
5.00%, due 7/1/49 | 17,690,000 | 22,373,454 |
Tennessee Housing Development Agency, Revenue Bonds | ||
4.50%, due 7/1/49 | 6,395,000 | 7,180,506 |
42,650,974 | ||
Texas 4.2% | ||
Bexar County Hospital District, Certficates of Obligation, Limited General Obligation | ||
4.00%, due 2/15/37 | 4,200,000 | 4,834,392 |
Central Texas Turnpike System, Revenue Bonds | ||
Series C | ||
5.00%, due 8/15/34 | 5,000,000 | 5,605,841 |
Series C | ||
5.00%, due 8/15/42 | 2,135,000 | 2,374,848 |
City of Austin TX, Airport System, Revenue Bonds (c) | ||
5.00%, due 11/15/24 | 4,000,000 | 4,611,294 |
5.00%, due 11/15/25 | 4,000,000 | 4,769,222 |
Series B | ||
5.00%, due 11/15/44 | 30,155,000 | 38,166,436 |
Series B | ||
5.00%, due 11/15/48 | 3,490,000 | 4,397,927 |
City of Corpus Christi TX, Utility System, Revenue Bonds, Junior Lien | ||
Series A | ||
3.00%, due 7/15/40 | 3,085,000 | 3,482,327 |
City of Donna TX, Tax & International Toll Bridge, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/30 | 1,035,000 | 1,151,447 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Texas | ||
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/26 | $ 565,000 | $ 640,585 |
5.00%, due 9/1/31 | 2,450,000 | 2,732,467 |
5.00%, due 9/1/34 | 1,550,000 | 1,722,475 |
City of Houston TX, Limited General Obligation | ||
Series A | ||
5.00%, due 3/1/29 | 5,000,000 | 6,174,482 |
City of Mount Pleasant TX, Texas Combination Tax and Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
3.00%, due 5/15/35 | 1,445,000 | 1,664,983 |
Dallas Area Rapid Transit, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/36 | 9,000,000 | 10,385,551 |
Dallas County Hospital District, Limited General Obligation | ||
5.00%, due 8/15/30 | 10,000,000 | 12,769,827 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series B | ||
4.00%, due 11/1/35 | 21,390,000 | 26,576,934 |
Series C | ||
5.125%, due 11/1/43 (c) | 5,310,000 | 5,621,033 |
Grand Parkway Transportation Corp., Revenue Bonds | ||
Series C | ||
4.00%, due 10/1/49 | 26,470,000 | 31,319,397 |
Series A | ||
5.00%, due 10/1/35 | 1,500,000 | 1,892,834 |
Series A | ||
5.00%, due 10/1/43 | 8,625,000 | 10,772,988 |
Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/38 | 4,280,000 | 5,043,758 |
Harris County Toll Road Authority (The), Revenue Bonds, First Lien | ||
4.00%, due 8/15/37 | 3,155,000 | 3,871,977 |
North Harris County Regional Water Authority, Revenue Bonds, Senior Lien | ||
Insured: BAM | ||
5.00%, due 12/15/32 | 3,215,000 | 3,421,701 |
North Texas Tollway Authority, North Texas Tollway System, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/34 | 1,400,000 | 1,603,578 |
Series A | ||
5.00%, due 1/1/35 | 2,950,000 | 3,376,815 |
Series A, Insured: BAM | ||
5.00%, due 1/1/38 | 9,500,000 | 10,881,422 |
Series B | ||
5.00%, due 1/1/40 | 22,140,000 | 23,599,672 |
San Antonio Water System, Revenue Bonds, Junior Lien | ||
Series C | ||
5.00%, due 5/15/41 | 5,000,000 | 6,495,979 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Texas | ||
State of Texas, Anticipation Notes, Revenue Notes | ||
4.00%, due 8/26/21 | $ 50,000,000 | $ 50,132,585 |
Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/23 | 1,245,000 | 1,374,595 |
Series A | ||
5.00%, due 11/15/24 | 1,305,000 | 1,498,421 |
Series A | ||
5.00%, due 11/15/25 | 1,370,000 | 1,628,322 |
Series A | ||
5.00%, due 11/15/26 | 1,440,000 | 1,759,868 |
Series B | ||
5.00%, due 11/15/46 | 3,590,000 | 4,184,388 |
Texas Department of Housing & Community Affairs, Residential Mortgage, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA | ||
4.75%, due 1/1/49 | 20,000 | 22,517 |
Texas Municipal Gas Acquisition & Supply Corp. III, Gas Supply, Revenue Bonds | ||
5.00%, due 12/15/28 | 12,100,000 | 15,543,704 |
5.00%, due 12/15/29 | 22,865,000 | 29,984,514 |
Texas Municipal Power Agency, Transmission System, Revenue Bonds | ||
Insured: AGM | ||
2.00%, due 9/1/33 | 3,000,000 | 3,020,382 |
Insured: AGM | ||
3.00%, due 9/1/46 | 5,000,000 | 5,310,184 |
Texas Municipal Power Agency, Revenue Bonds | ||
5.00%, due 9/1/47 | 2,750,000 | 2,750,000 |
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC, Revenue Bonds, Senior Lien | ||
4.00%, due 12/31/37 | 4,250,000 | 5,116,139 |
4.00%, due 12/31/38 | 3,000,000 | 3,599,756 |
4.00%, due 6/30/39 | 3,000,000 | 3,587,776 |
Texas Public Finance Authority, Financing System-Texas Southern University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/1/31 | 1,000,000 | 1,126,958 |
Insured: BAM | ||
4.00%, due 5/1/32 | 1,295,000 | 1,456,528 |
Texas State University System, Revenue Bonds | ||
Series A | ||
4.00%, due 3/15/35 | 2,000,000 | 2,386,967 |
Town of Prosper TX, Certificates Of Obligation, Limited General Obligation | ||
4.00%, due 2/15/31 | 1,235,000 | 1,472,729 |
Viridian Municipal Management District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
6.00%, due 12/1/32 | 500,000 | 587,887 |
West Harris County Regional Water Authority, Revenue Bonds | ||
5.00%, due 12/15/39 | 1,200,000 | 1,557,018 |
378,063,430 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
U.S. Virgin Islands 0.5% | ||
Virgin Islands Public Finance Authority, Revenue Bonds | ||
5.00%, due 9/1/30 (d) | $ 5,000,000 | $ 5,746,113 |
Virgin Islands Public Finance Authority, United States Virgin Islands Federal Excise Tax, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/32 | 15,655,000 | 16,344,431 |
Virgin Islands Public Finance Authority, Matching Fund Loan, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/32 | 5,100,000 | 5,062,401 |
Series A | ||
6.625%, due 10/1/29 | 6,455,000 | 6,507,581 |
Series A | ||
6.75%, due 10/1/37 | 5,000,000 | 5,040,729 |
Virgin Islands Public Finance Authority, United States Virgin Islands, Revenue Bonds | ||
Series C, Insured: AGM | ||
5.00%, due 10/1/39 | 5,920,000 | 6,527,407 |
45,228,662 | ||
Utah 3.5% | ||
City of Salt Lake City UT, Airport, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 7/1/42 | 18,790,000 | 22,701,828 |
Series A | ||
5.00%, due 7/1/43 | 22,555,000 | 27,585,169 |
Series A | ||
5.00%, due 7/1/46 | 55,000,000 | 70,736,077 |
Series A | ||
5.00%, due 7/1/47 | 23,695,000 | 28,488,901 |
Series A | ||
5.00%, due 7/1/51 | 10,000,000 | 12,790,579 |
County of Utah UT, IHC Health Services, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 5/15/43 | 9,500,000 | 11,386,402 |
Series B | ||
4.00%, due 5/15/47 | 1,670,000 | 1,827,482 |
Series A | ||
5.00%, due 5/15/43 | 19,725,000 | 25,554,069 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/45 | 2,975,000 | 3,458,954 |
Utah Housing Corp., Revenue Bonds | ||
Series E, Insured: GNMA | ||
2.00%, due 4/21/51 | 9,943,180 | 10,365,543 |
Series F, Insured: GNMA | ||
2.50%, due 5/21/51 | 9,466,303 | 10,031,443 |
Series G, Insured: GNMA | ||
2.50%, due 6/21/51 | 11,978,745 | 12,671,665 |
Series H, Insured: GNMA | ||
2.50%, due 7/21/51 | 13,700,000 | 14,469,814 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Utah | ||
Utah Housing Corp., Mortgage-Backed, Revenue Bonds | ||
Series H, Insured: GNMA | ||
4.50%, due 10/21/48 | $ 1,268,644 | $ 1,328,891 |
Series J, Insured: GNMA | ||
4.50%, due 12/21/48 | 1,333,605 | 1,414,960 |
Series A, Insured: GNMA | ||
4.50%, due 1/21/49 | 3,606,047 | 3,826,029 |
Series B, Insured: GNMA | ||
4.50%, due 2/21/49 | 2,399,775 | 2,546,170 |
Utah Infrastructure Agency, Revenue Bonds | ||
5.00%, due 10/15/38 | 1,990,000 | 2,447,923 |
5.00%, due 10/15/41 | 2,175,000 | 2,660,692 |
Utah Transit Authority, Revenue Bonds | ||
4.00%, due 6/15/39 | 27,885,000 | 28,839,258 |
Series 2018-2 | ||
4.00%, due 12/15/41 | 13,300,000 | 15,281,614 |
Utah Transit Authority, Sales Tax, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/15/40 | 2,780,000 | 3,431,021 |
Weber Basin Water Conservancy District, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/44 | 5,130,000 | 6,559,895 |
320,404,379 | ||
Vermont 0.0% ‡ | ||
Vermont Educational & Health Buildings Financing Agency, Middlebury College Project, Revenue Bonds | ||
4.00%, due 11/1/36 | 1,250,000 | 1,487,735 |
Virginia 1.2% | ||
Arlington County Industrial Development Authority, Virginia Hospital Center, Revenue Bonds | ||
3.75%, due 7/1/50 | 10,000,000 | 11,565,749 |
4.00%, due 7/1/45 | 12,000,000 | 14,298,202 |
Hampton Roads Transportation Accountability Commission, Revenue Bonds, Senior Lien | ||
Series A | ||
4.00%, due 7/1/50 | 6,500,000 | 7,792,498 |
Series A | ||
4.00%, due 7/1/55 | 37,835,000 | 45,186,946 |
Virginia Housing Development Authority, Revenue Bonds | ||
Series B | ||
3.35%, due 5/1/54 | 3,800,000 | 4,065,924 |
Virginia Resources Authority, Infrastructure Revenue, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
5.00%, due 11/1/30 | 2,245,000 | 2,382,938 |
Virginia Small Business Financing Authority, 95 Express Lanes LLC, Revenue Bonds, Senior Lien | ||
5.00%, due 7/1/49 (c) | 20,000,000 | 20,372,188 |
105,664,445 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Washington 0.7% | ||
City of Seattle WA, Improvement and Refunding, Limited General Obligation | ||
Series A | ||
5.00%, due 8/1/21 | $ 5,000,000 | $ 5,000,000 |
Port of Seattle, Revenue Bonds | ||
Series C | ||
4.00%, due 8/1/41 (c) | 10,700,000 | 12,852,777 |
University of Washington, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/38 | 1,860,000 | 2,266,188 |
Series A | ||
4.00%, due 4/1/39 | 2,345,000 | 2,850,349 |
Series B | ||
5.00%, due 6/1/37 | 2,765,000 | 3,222,127 |
Washington Higher Education Facilities Authority, Seattle Pacific University Project, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/32 | 1,330,000 | 1,719,369 |
Series A | ||
5.00%, due 10/1/35 | 1,000,000 | 1,282,767 |
Series A | ||
5.00%, due 10/1/38 | 1,175,000 | 1,496,566 |
Series A | ||
5.00%, due 10/1/45 | 1,600,000 | 2,007,840 |
Washington State Convention Center Public Facilities District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/58 | 20,000,000 | 22,671,242 |
Insured: AGM | ||
5.00%, due 7/1/58 | 2,935,000 | 3,726,827 |
Washington State Housing Finance Commission, Single Family Program, Revenue Bonds | ||
Series 1N | ||
4.00%, due 12/1/48 | 4,775,000 | 5,252,119 |
Series 1N | ||
4.00%, due 6/1/49 | 250,000 | 276,181 |
64,624,352 | ||
Wisconsin 0.2% | ||
Public Finance Authority, Appalachian Regional Healthcare System Obligated Group, Revenue Bonds | ||
5.00%, due 7/1/39 | 350,000 | 452,360 |
Wisconsin Center District, Junior Dedicated, Revenue Bonds, Junior Lien | ||
Series A | ||
5.00%, due 12/15/31 | 3,665,000 | 3,840,047 |
Series A | ||
5.00%, due 12/15/32 | 2,850,000 | 2,984,069 |
Wisconsin Health & Educational Facilities Authority, Miriam Osborn Memorial Home Association Project, Revenue Bonds | ||
Series C | ||
5.00%, due 2/15/23 | 2,110,000 | 2,263,097 |
Principal Amount | Value | |
Long-Term Municipal Bonds | ||
Wisconsin | ||
Wisconsin Housing & Economic Development Authority, Revenue Bonds | ||
Series D | ||
4.00%, due 3/1/47 | $ 4,700,000 | $ 5,161,855 |
14,701,428 | ||
Wyoming 0.1% | ||
Wyoming Community Development Authority, Revenue Bonds | ||
Series 3 | ||
4.00%, due 6/1/43 | 3,420,000 | 3,750,112 |
Series 1 | ||
4.00%, due 12/1/48 | 3,295,000 | 3,634,036 |
7,384,148 | ||
Total Long-Term Municipal Bonds (Cost $7,633,175,378) | 8,176,736,077 | |
Short-Term Municipal Notes 4.8% | ||
Arkansas 0.1% | ||
City of Osceola AR, Plum Point Energy Associates LLC Project, Revenue Bonds | ||
0.05%, due 4/1/36 (e) | 5,000,000 | 5,000,000 |
California 0.6% | ||
California Pollution Control Financing Authority, Republic Services, Inc., Revenue Bonds (d)(e) | ||
Series A | ||
(zero coupon), due 8/1/23 (c) | 25,000,000 | 25,000,000 |
Series B | ||
(zero coupon), due 8/1/24 | 4,500,000 | 4,500,000 |
Metropolitan Water District of Southern California, Waterworks, Revenue Bonds | ||
Series C | ||
0.16%, due 7/1/47 (e) | 15,000,000 | 15,003,525 |
State of California, Unlimited General Obligation | ||
Series A | ||
0.01%, due 5/1/48 (e) | 12,500,000 | 12,500,000 |
57,003,525 | ||
Colorado 0.1% | ||
E-470 Public Highway Authority, Revenue Bonds | ||
Series B | ||
0.384%, due 9/1/39 (e) | 7,500,000 | 7,512,304 |
Connecticut 0.2% | ||
Connecticut State Health & Educational Facilities Authority, Yale-New Haven Health Obligated Group, Revenue Bonds | ||
Series C | ||
0.02%, due 7/1/25 (e) | 6,900,000 | 6,900,000 |
Principal Amount | Value | |
Short-Term Municipal Notes | ||
Connecticut | ||
Connecticut State Health & Educational Facilities Authority, Yale University, Revenue Bonds | ||
Series X-2 | ||
0.25%, due 7/1/37 (e) | $ 11,000,000 | $ 11,004,924 |
17,904,924 | ||
District of Columbia 0.1% | ||
Tender Option Bond Trust Receipts/Certificates, Revenue Bonds | ||
Series 2020-YX1120 | ||
0.05%, due 10/1/49 (d)(e) | 8,390,000 | 8,390,000 |
Georgia 0.4% | ||
Development Authority of Appling County, Oglethorpe Power Corp. Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/38 (e) | 2,500,000 | 2,569,961 |
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds | ||
0.04%, due 11/1/52 (e) | 22,655,000 | 22,655,000 |
Development Authority of Burke County (The), Oglethorpe Power Corp. Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/40 (e) | 7,365,000 | 7,571,105 |
Development Authority of Monroe County (The), Oglethorpe Power Corp. Scherer Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/39 (e) | 3,750,000 | 3,854,942 |
36,651,008 | ||
Illinois 0.2% | ||
Tender Option Bond Trust Receipts/Certificates, Revenue Bonds | ||
Series 2015-XF1009, Insured: AGM | ||
0.06%, due 6/15/32 (d)(e) | 17,390,000 | 17,390,000 |
Indiana 0.1% | ||
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds (e) | ||
Series A | ||
0.75%, due 12/1/38 | 1,500,000 | 1,504,608 |
Series B | ||
0.95%, due 12/1/38 (c) | 3,260,000 | 3,252,157 |
4,756,765 | ||
Kentucky 0.1% | ||
County of Meade KY, Nucor Corp., Green Bond, Revenue Bonds | ||
Series A-1 | ||
0.08%, due 7/1/60 (c)(e) | 8,160,000 | 8,160,000 |
Michigan 0.0% ‡ | ||
Michigan State Building Authority, Multi-Modal Facilities Program, Revenue Bonds | ||
Series III | ||
0.07%, due 10/15/42 (e) | 3,500,000 | 3,500,000 |
Principal Amount | Value | |
Short-Term Municipal Notes | ||
Minnesota 0.3% | ||
County of Hennepin MN, Unlimited General Obligation | ||
Series B | ||
0.02%, due 12/1/38 (e) | $ 22,260,000 | $ 22,260,000 |
Missouri 0.2% | ||
Rib Floater Trust Various States, Revenue Bonds | ||
Series 2019-016 | ||
0.06%, due 6/1/45 (d)(e) | 11,000,000 | 11,000,000 |
Tender Option Bond Trust Receipts/Certificates, Revenue Bonds | ||
Series 2020-YX1159 | ||
0.07%, due 3/1/46 (d)(e) | 3,165,000 | 3,165,000 |
14,165,000 | ||
New Jersey 0.3% | ||
New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds | ||
Series D | ||
1.10%, due 11/1/29 (c)(e) | 2,040,000 | 2,047,227 |
New Jersey Turnpike Authority, Revenue Bonds | ||
Series D-1 | ||
0.77%, due 1/1/24 (e) | 25,750,000 | 26,015,106 |
28,062,333 | ||
New York 0.9% | ||
City of New York NY, Limited General Obligation (e) | ||
Series 3 | ||
0.12%, due 4/1/42 | 7,500,000 | 7,500,000 |
Series 2 | ||
0.12%, due 4/1/42 | 9,900,000 | 9,900,000 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Insured: AGM | ||
0.584%, due 11/1/32 (e) | 28,000,000 | 28,204,750 |
New York City Housing Development Corp., Multi-Family, Sustainable Neighborhood, Revenue Bonds | ||
Series E-3 | ||
0.02%, due 5/1/59 (e) | 2,300,000 | 2,300,000 |
Tender Option Bond Trust Receipts/Certificates, Revenue Bonds | ||
Series 2016-XM0454 | ||
0.10%, due 9/15/40 (d)(e) | 5,000,000 | 5,000,000 |
Triborough Bridge & Tunnel Authority, Revenue Bonds (e) | ||
0.049%, due 1/1/32 | 20,000,000 | 20,000,000 |
0.06%, due 1/1/32 | 10,000,000 | 10,000,000 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series 2005B-4A | ||
0.414%, due 1/1/32 (e) | 2,750,000 | 2,750,879 |
85,655,629 | ||
Ohio 0.1% | ||
County of Franklin OH, Trinity Health Credit Group, Revenue Bonds | ||
0.10%, due 12/1/46 (e) | 12,500,000 | 12,500,000 |
Principal Amount | Value | |
Short-Term Municipal Notes | ||
Oregon 0.1% | ||
Oregon State Facilities Authority, PeaceHealth Obligated Group, Revenue Bonds | ||
Series B | ||
0.02%, due 8/1/34 (e) | $ 9,200,000 | $ 9,200,000 |
South Carolina 0.0% ‡ | ||
South Carolina State Housing Finance & Development Authority, Franklin Square LP, Revenue Bonds | ||
0.03%, due 11/1/41 (e) | 200,000 | 200,000 |
Texas 0.4% | ||
Harris County Health Facilities Development Corp., Methodist Hospital, Revenue Bonds (e) | ||
Series A-1 | ||
0.03%, due 12/1/41 | 22,825,000 | 22,825,000 |
Series A-2 | ||
0.03%, due 12/1/41 | 14,875,000 | 14,875,000 |
37,700,000 | ||
Wisconsin 0.6% | ||
Public Finance Authority, Waste Management, Inc., Revenue Bonds | ||
Series A | ||
(zero coupon), due 9/1/27 (c)(e) | 12,000,000 | 12,000,000 |
State of Wisconsin, Unlimited General Obligation | ||
Series A | ||
0.038%, due 5/1/29 (e) | 26,600,000 | 26,600,000 |
Wisconsin Health & Educational Facilities Authority, Educational Facilities Authority, Marshfield Clinic Health System Inc., Revenue Bonds | ||
Series A | ||
0.02%, due 2/15/50 (e) | 18,685,000 | 18,685,000 |
57,285,000 | ||
Total Short-Term Municipal Notes (Cost $432,386,300) | 433,296,488 | |
Total Municipal Bonds (Cost $8,065,561,678) | 8,610,032,565 | |
Shares | ||
Closed-End Funds 1.3% | ||
California 0.9% | ||
Invesco California Value Municipal Income Trust,1.07%, due 12/1/22 (d)(f) | 80,000,000 | 80,000,000 |
New York 0.2% | ||
Nuveen New York Quality Municipal Income Fund,0.33%, due 5/1/47 (c)(d)(f) | 20,000,000 | 20,000,000 |
North Carolina 0.1% | ||
Invesco Municipal Income Opportunities Trust II,1.08%, due 12/1/22 (d)(f) | 5,000,000 | 5,000,000 |
Shares | Value | ||
Closed-End Funds | |||
Wisconsin 0.1% | |||
Nuveen Quality Municipal Income Fund,0.27%, due 3/1/29(f) | 11,800,000 | $ 11,800,000 | |
Total Closed-End Funds (Cost $116,800,000) | 116,800,000 | ||
Short-Term Investments 4.3% | |||
Unaffiliated Investment Companies 4.3% | |||
BlackRock Liquidity Funds MuniCash, 0.005% (g) | 291,239,018 | 291,293,990 | |
JPMorgan Institutional Tax Free Money Market Fund, 0.006% (b)(g) | 97,050,563 | 97,099,089 | |
Total Short-Term Investments (Cost $388,393,079) | 388,393,079 | ||
Total Investments (Cost $8,570,754,757) | 100.6% | 9,115,225,644 | |
Other Assets, Less Liabilities | (0.6) | (56,349,834) | |
Net Assets | 100.0% | $ 9,058,875,810 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Step coupon—Rate shown was the rate in effect as of July 31, 2021. |
(b) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
(c) | Interest on these securities was subject to alternative minimum tax. |
(d) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(e) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
(f) | Floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(g) | Current yield as of July 31, 2021. |
Futures Contracts
As of July 31, 2021, the Fund held the following futures contracts1:
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 10 Year Notes | (4,750) | September 2021 | $ (625,935,795) | $ (638,652,344) | $ (12,716,549) |
U.S. Treasury Long Bonds | (750) | September 2021 | (121,435,737) | (123,539,062) | (2,103,325) |
Net Unrealized Depreciation | $ (14,819,874) |
1. | As of July 31, 2021, cash in the amount of $9,868,750 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of July 31, 2021. |
Abbreviation(s): |
AGC—Assured Guaranty Corp. |
AGM—Assured Guaranty Municipal Corp. |
BAM—Build America Mutual Assurance Co. |
BHAC—Berkshire Hathaway Assurance Corp. |
COLL—Collateral |
COMMWLTH GTD—Commonwealth Guaranteed |
CR—Custodial Receipts |
FGIC—Financial Guaranty Insurance Company |
FHA—Federal Housing Administration |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
GNMA—Government National Mortgage Association |
ICR—Issuer credit ratings |
MUN GOVT GTD—Municipal Government Guaranteed |
NATL—National Public Finance Guarantee Corp. |
NATL-RE—National Public Finance Guarantee Corp. |
Q-SBLF—Qualified School Board Loan Fund |
UT CSCE—Utah Charter School Credit Enhancement Program |
XLCA—XL Capital Assurance |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets and liabilities:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Municipal Bonds | |||||||
Long-Term Municipal Bonds | $ — | $ 8,176,736,077 | $ — | $ 8,176,736,077 | |||
Short-Term Municipal Notes | — | 433,296,488 | — | 433,296,488 | |||
Total Municipal Bonds | — | 8,610,032,565 | — | 8,610,032,565 | |||
Closed-End Funds | — | 116,800,000 | — | 116,800,000 | |||
Short-Term Investments | |||||||
Unaffiliated Investment Companies | 291,293,990 | 97,099,089 | — | 388,393,079 | |||
Total Investments in Securities | $ 291,293,990 | $ 8,823,931,654 | $ — | $ 9,115,225,644 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Futures Contracts (b) | $ (14,819,874) | $ — | $ — | $ (14,819,874) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
MainStay MacKay U.S. Infrastructure Bond Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 95.5% | ||
Asset-Backed Security 0.0% ‡ | ||
Other Asset-Backed Security 0.0% ‡ | ||
Atlantic City Electric Transition Funding LLC | ||
Series 2002-1, Class A4 | ||
5.55%, due 10/20/23 | $ 101,146 | $ 101,827 |
Total Asset-Backed Security (Cost $102,070) | 101,827 | |
Corporate Bonds 4.1% | ||
Commercial Services 0.3% | ||
Howard University | ||
Series 2020, Insured: AGM | ||
2.657%, due 10/1/26 | 1,500,000 | 1,567,990 |
Electric 0.2% | ||
Duke Energy Florida Project Finance LLC | ||
Series 2026 | ||
2.538%, due 9/1/29 | 1,100,000 | 1,169,841 |
Entertainment 0.2% | ||
Smithsonian Institution | ||
1.967%, due 9/1/31 | 1,500,000 | 1,545,480 |
Healthcare-Services 3.4% | ||
Baptist Health Obligated Group | ||
3.289%, due 12/1/28 | 650,000 | 684,062 |
Ochsner LSU Health System of North Louisiana | ||
Series 2021 | ||
2.51%, due 5/15/31 | 3,500,000 | 3,549,296 |
OhioHealth Corp. | ||
Series 2020 | ||
2.175%, due 11/15/27 | 1,040,000 | 1,080,251 |
Rogers Memorial Hospital, Inc. | ||
Series 2019 | ||
2.631%, due 7/1/26 | 1,080,000 | 1,139,802 |
Series 2019 | ||
2.988%, due 7/1/29 | 505,000 | 528,217 |
Series 2019 | ||
3.188%, due 7/1/31 | 640,000 | 677,622 |
Series 2019 | ||
3.792%, due 7/1/39 | 2,480,000 | 2,632,378 |
SSM Health Care Corp. | ||
Series A | ||
3.823%, due 6/1/27 | 5,000,000 | 5,670,435 |
Sun Health Services | ||
Series 19B | ||
2.98%, due 11/15/27 | 1,110,000 | 1,116,635 |
Principal Amount | Value | |
Corporate Bonds | ||
Healthcare-Services | ||
Sutter Health | ||
Series 20A | ||
2.294%, due 8/15/30 | $ 1,000,000 | $ 1,034,955 |
Toledo Hospital (The) | ||
Series B | ||
5.325%, due 11/15/28 | 2,000,000 | 2,355,063 |
20,468,716 | ||
Total Corporate Bonds (Cost $23,795,416) | 24,752,027 | |
Municipal Bonds 91.3% | ||
Alabama 0.2% | ||
Water Works Board of the City of Birmingham (The) Revenue Bonds, Senior Lien | ||
2.013%, due 1/1/32 | 1,000,000 | 1,019,532 |
Alaska 0.5% | ||
Alaska Municipal Bond Bank Authority Revenue Bonds | ||
Series 2 | ||
2.122%, due 12/1/31 | 3,210,000 | 3,318,793 |
Arizona 0.6% | ||
Arizona Industrial Development Authority, Provident Group, NCCU Properties LLC, Central University Project Revenue Bonds | ||
Series B, Insured: BAM | ||
3.10%, due 6/1/25 | 600,000 | 628,457 |
Arizona Industrial Development Authority, Voyager Foundation Inc., Project Revenue Bonds | ||
Series 2020 | ||
3.65%, due 10/1/29 | 1,115,000 | 1,104,562 |
Series 2020 | ||
3.90%, due 10/1/34 | 1,900,000 | 1,858,418 |
3,591,437 | ||
Arkansas 0.3% | ||
City of Rogers AR Revenue Bonds | ||
Series A | ||
3.828%, due 11/1/25 | 1,675,000 | 1,877,638 |
California 17.8% | ||
Anaheim Housing and Public Improvements Authority, Water System Revenue Bonds | ||
Series B | ||
1.998%, due 10/1/27 | 1,000,000 | 1,038,449 |
Principal Amount | Value | |
Municipal Bonds | ||
California | ||
Anaheim Housing and Public Improvements Authority, Water System Revenue Bonds | ||
Series B | ||
2.123%, due 10/1/28 | $ 1,000,000 | $ 1,037,170 |
Series B | ||
2.273%, due 10/1/30 | 1,000,000 | 1,033,978 |
Antelope Valley Community College District Unlimited General Obligation | ||
2.338%, due 8/1/31 | 2,000,000 | 2,130,012 |
Bay Area Toll Authority Revenue Bonds | ||
Series F-1 | ||
2.069%, due 4/1/31 | 3,065,000 | 3,190,431 |
Series F-1 | ||
2.574%, due 4/1/31 | 1,500,000 | 1,612,862 |
California Educational Facilities Authority, Chapman University Revenue Bonds | ||
Series A | ||
3.281%, due 4/1/28 | 1,000,000 | 1,066,421 |
Series A | ||
3.661%, due 4/1/33 | 3,300,000 | 3,503,283 |
California Health Facilities Financing Authority, Personal Income Tax, No Place Like Home Program Revenue Bonds, Senior Lien | ||
2.584%, due 6/1/29 | 3,000,000 | 3,220,760 |
2.864%, due 6/1/31 | 4,000,000 | 4,333,694 |
2.984%, due 6/1/33 | 2,370,000 | 2,572,527 |
California Infrastructure and Economic Development Bank, J. David Gladstone Institutes (The) Revenue Bonds | ||
3.20%, due 10/1/29 | 1,785,000 | 1,906,800 |
California Municipal Finance Authority, Harvey Mudd College Revenue Bonds | ||
2.262%, due 12/1/30 | 1,520,000 | 1,590,795 |
California State University, Systemwide Revenue Bonds | ||
Series B | ||
1.854%, due 11/1/31 | 3,000,000 | 3,013,285 |
California Statewide Communities Development Authority, Buck Institute for Research on Aging Revenue Bonds | ||
Insured: AGM | ||
2.148%, due 11/15/30 | 3,985,000 | 4,026,220 |
Chabot-Las Positas Community College District Unlimited General Obligation | ||
1.89%, due 8/1/31 (a) | 3,000,000 | 3,035,382 |
City of Montebello CA Revenue Bonds | ||
Insured: AGM | ||
3.343%, due 6/1/31 | 1,000,000 | 1,099,561 |
Principal Amount | Value | |
Municipal Bonds | ||
California | ||
City of Montebello CA Revenue Bonds | ||
Insured: AGM | ||
3.393%, due 6/1/32 | $ 1,000,000 | $ 1,104,876 |
City of Sacramento CA, Water Revenue Bonds | ||
2.297%, due 9/1/30 | 1,000,000 | 1,068,842 |
City of San Buenaventura CA, Water Revenue Revenue Bonds | ||
2.727%, due 1/1/40 | 2,755,000 | 2,813,075 |
Coast Community College District Unlimited General Obligation | ||
2.588%, due 8/1/29 | 2,565,000 | 2,814,037 |
El Cajon Redevelopment Agency, Cajon Redevelopment Project Tax Allocation | ||
Insured: AGM-CR AMBAC | ||
7.70%, due 10/1/30 | 2,000,000 | 2,757,819 |
El Dorado Irrigation District Revenue Bonds | ||
Series C | ||
2.055%, due 3/1/29 | 4,500,000 | 4,646,395 |
Foothill-Eastern Transportation Corridor Agency Revenue Bonds, Senior Lien | ||
Series B, Insured: AGM | ||
2.291%, due 1/15/33 | 1,700,000 | 1,718,367 |
Inglewood Joint Powers Authority, City of Inglewood Revenue Bonds | ||
Insured: BAM | ||
3.469%, due 8/1/29 | 1,000,000 | 1,105,299 |
La Quinta Redevelopment Agency Successor Agency | ||
2.354%, due 9/1/30 | 1,475,000 | 1,546,484 |
Los Angeles Community College District, Election 2008 Unlimited General Obligation | ||
Series B | ||
7.53%, due 8/1/29 | 2,250,000 | 3,187,235 |
Lynwood Housing Authority Revenue Bonds | ||
4.00%, due 9/1/29 | 2,370,000 | 2,453,378 |
Port of Oakland Revenue Bonds, Senior Lien | ||
2.099%, due 5/1/30 | 2,500,000 | 2,586,620 |
Series R | ||
2.199%, due 5/1/31 | 3,150,000 | 3,274,762 |
San Bernardino Community College District, Election 2018 Unlimited General Obligation | ||
Series A-1 | ||
2.64%, due 8/1/29 | 3,500,000 | 3,792,637 |
Principal Amount | Value | |
Municipal Bonds | ||
California | ||
San Diego County Regional Transportation Commission Revenue Bonds | ||
Series A | ||
2.499%, due 4/1/30 | $ 2,000,000 | $ 2,170,899 |
San Diego Public Facilities Financing Authority, Water Utility Revenue Bonds | ||
Series B | ||
1.903%, due 8/1/26 | 2,750,000 | 2,897,975 |
San Luis Unit/Westlands Water District Financing Authority Revenue Bonds | ||
Series A, Insured: AGM | ||
1.828%, due 9/1/26 | 3,000,000 | 3,120,244 |
Series A, Insured: AGM | ||
2.028%, due 9/1/27 | 2,000,000 | 2,095,748 |
Santa Clarita Community College District Unlimited General Obligation | ||
2.632%, due 8/1/28 | 500,000 | 547,724 |
2.682%, due 8/1/29 | 600,000 | 660,127 |
2.762%, due 8/1/30 | 600,000 | 664,657 |
2.812%, due 8/1/31 | 650,000 | 723,097 |
Solano County Community College District Unlimited General Obligation | ||
2.717%, due 8/1/29 | 450,000 | 482,502 |
2.817%, due 8/1/30 | 575,000 | 622,461 |
2.867%, due 8/1/31 | 675,000 | 734,126 |
2.917%, due 8/1/32 | 650,000 | 709,629 |
2.967%, due 8/1/33 | 630,000 | 689,119 |
State of California, Various Purposes Unlimited General Obligation | ||
2.375%, due 10/1/26 | 2,100,000 | 2,247,085 |
Transbay Joint Powers Authority, Green Bond Tax Allocation | ||
Series 2020A | ||
3.58%, due 10/1/32 | 2,730,000 | 3,059,535 |
University of California Revenue Bonds | ||
Series BD | ||
3.349%, due 7/1/29 | 1,500,000 | 1,708,810 |
Ventura County Public Financing Authority Revenue Bonds | ||
Series A | ||
1.741%, due 11/1/27 | 2,000,000 | 2,040,173 |
West Contra Costa Unified School District Unlimited General Obligation | ||
Series B, Insured: AGM | ||
2.121%, due 8/1/31 | 1,000,000 | 1,029,192 |
Principal Amount | Value | |
Municipal Bonds | ||
California | ||
West Contra Costa Unified School District Unlimited General Obligation | ||
2.177%, due 8/1/27 | $ 4,000,000 | $ 4,198,008 |
2.422%, due 8/1/30 | 2,500,000 | 2,639,663 |
107,322,230 | ||
Colorado 0.8% | ||
City & County of Denver CO, Airport System Revenue Bonds | ||
Series C | ||
1.722%, due 11/15/27 | 3,500,000 | 3,595,266 |
Colorado Housing and Finance Authority Revenue Bonds | ||
Series G-1, Insured: GNMA | ||
3.65%, due 11/1/46 | 910,000 | 965,203 |
4,560,469 | ||
Connecticut 4.3% | ||
City of Bridgeport CT Unlimited General Obligation | ||
Series D, Insured: BAM | ||
2.913%, due 9/15/28 | 1,650,000 | 1,771,037 |
City of Waterbury CT Unlimited General Obligation | ||
Series C | ||
2.492%, due 9/1/31 | 2,855,000 | 3,042,995 |
Connecticut State Health & Educational Facilities Authority, Connecticut State University System Revenue Bonds | ||
Insured: BAM | ||
1.70%, due 11/1/27 | 6,460,000 | 6,558,448 |
Series R-2, Insured: BAM | ||
2.25%, due 11/1/31 | 1,200,000 | 1,228,058 |
State of Connecticut Unlimited General Obligation | ||
Series A | ||
2.09%, due 6/1/31 | 5,000,000 | 5,189,494 |
Series A | ||
2.547%, due 7/1/28 | 1,000,000 | 1,079,778 |
Series A | ||
2.627%, due 7/1/29 | 1,000,000 | 1,086,269 |
Series A | ||
5.85%, due 3/15/32 | 1,000,000 | 1,349,390 |
State of Connecticut Bradley International Airport CFC, Ground Transportation Center Project Revenue Bonds | ||
Series B | ||
3.024%, due 7/1/25 | 2,045,000 | 2,148,015 |
3.431%, due 7/1/28 | 1,195,000 | 1,276,577 |
Principal Amount | Value | |
Municipal Bonds | ||
Connecticut | ||
Town of Hamden CT Unlimited General Obligation | ||
Series B, Insured: BAM | ||
2.80%, due 8/1/31 | $ 1,250,000 | $ 1,319,699 |
26,049,760 | ||
Delaware 0.1% | ||
Delaware Municipal Electric Corp. (The), Middletown & Seaford Project Revenue Bonds | ||
Series B, Insured: BAM | ||
4.35%, due 10/1/34 | 500,000 | 538,201 |
District of Columbia 0.4% | ||
District of Columbia Revenue Bonds | ||
Series B | ||
2.632%, due 3/1/30 | 1,000,000 | 1,093,003 |
Washington Convention & Sports Authority Revenue Bonds, Senior Lien | ||
Series C | ||
1.93%, due 10/1/28 | 1,600,000 | 1,649,367 |
2,742,370 | ||
Florida 6.1% | ||
City of Deltona FL, Utility System Revenue Bonds | ||
Insured: BAM | ||
2.539%, due 10/1/41 | 1,250,000 | 1,261,396 |
City of Miami FL, Street & Sidewalk Improvement Program Revenue Bonds | ||
Series B, Insured: AGM | ||
4.592%, due 1/1/33 (b) | 1,115,000 | 1,274,992 |
City of Miramar FL Revenue Bonds | ||
2.183%, due 10/1/32 | 1,000,000 | 1,020,913 |
County of Broward FL, Airport System Revenue Bonds | ||
Insured: BAM | ||
2.504%, due 10/1/28 | 1,965,000 | 2,110,323 |
County of Miami-Dade FL, Transit System Revenue Bonds | ||
Series B | ||
1.25%, due 7/1/27 | 2,750,000 | 2,762,173 |
County of Miami-Dade FL Revenue Bonds | ||
Series A | ||
1.621%, due 10/1/27 | 2,500,000 | 2,541,236 |
Principal Amount | Value | |
Municipal Bonds | ||
Florida | ||
County of Miami-Dade FL, Aviation Revenue Bonds | ||
Series B | ||
1.885%, due 10/1/21 | $ 2,610,000 | $ 2,617,265 |
Series B | ||
1.885%, due 10/1/21 | 3,390,000 | 3,398,170 |
Series E | ||
2.449%, due 10/1/29 | 1,000,000 | 1,050,695 |
Series B | ||
3.275%, due 10/1/29 | 2,715,000 | 3,022,282 |
County of Miami-Dade FL, Water & Sewer System Revenue Bonds | ||
Series C | ||
2.601%, due 10/1/29 | 2,145,000 | 2,336,300 |
Florida Municipal Power Agency, All Requirements Power Supply Revenue Bonds | ||
1.425%, due 10/1/26 | 4,000,000 | 4,051,104 |
Reedy Creek Improvement District Limited General Obligation | ||
Series A | ||
2.047%, due 6/1/28 | 2,000,000 | 2,099,382 |
St Johns County Industrial Development Authority, Flagler Health Revenue Bonds | ||
Series B, Insured: AGM | ||
2.538%, due 10/1/30 | 2,500,000 | 2,614,803 |
State Board of Administration Finance Corp. Revenue Bonds | ||
Series 2020A | ||
2.154%, due 7/1/30 | 2,000,000 | 2,074,351 |
Tampa-Hillsborough County Expressway Authority Revenue Bonds | ||
Series B, Insured: BAM | ||
1.64%, due 7/1/27 | 2,500,000 | 2,556,498 |
36,791,883 | ||
Guam 2.2% | ||
Antonio B Won Pat International Airport Authority Revenue Bonds | ||
Series A | ||
2.499%, due 10/1/25 (a) | 740,000 | 757,465 |
Series A | ||
2.699%, due 10/1/26 (a) | 610,000 | 626,755 |
Series A | ||
2.899%, due 10/1/27 (a) | 825,000 | 851,576 |
Series A | ||
3.099%, due 10/1/28 (a) | 765,000 | 796,018 |
Series B | ||
3.319%, due 10/1/25 | 1,000,000 | 1,056,467 |
Principal Amount | Value | |
Municipal Bonds | ||
Guam | ||
Guam Government Waterworks Authority Revenue Bonds | ||
Series B | ||
2.75%, due 7/1/30 | $ 6,500,000 | $ 6,643,974 |
Series B | ||
3.25%, due 7/1/34 | 2,000,000 | 2,069,129 |
Port Authority of Guam Revenue Bonds | ||
Series C | ||
4.532%, due 7/1/27 | 500,000 | 561,571 |
13,362,955 | ||
Hawaii 0.8% | ||
City & County of Honolulu HI, Build America Bonds Unlimited General Obligation | ||
Series A | ||
5.518%, due 12/1/28 | 2,400,000 | 3,073,955 |
State of Hawaii Airports System, Customer Facility Charge Revenue Bonds | ||
Series A | ||
3.14%, due 7/1/47 | 1,500,000 | 1,520,196 |
4,594,151 | ||
Illinois 6.7% | ||
Chicago O'Hare International Airport Revenue Bonds, Senior Lien | ||
Series D | ||
1.704%, due 1/1/26 | 5,000,000 | 5,131,052 |
City of Chicago Heights IL Unlimited General Obligation | ||
Series A, Insured: BAM | ||
7.25%, due 12/1/34 | 3,815,000 | 5,491,146 |
City of Chicago IL, Taxable Project Unlimited General Obligation | ||
Series C-1, Insured: BAM | ||
7.781%, due 1/1/35 | 2,195,000 | 3,363,619 |
County of Cook IL, Build America Bonds Unlimited General Obligation | ||
Insured: AGM | ||
6.229%, due 11/15/34 | 1,725,000 | 2,423,973 |
Series B | ||
6.36%, due 11/15/33 | 1,500,000 | 2,087,350 |
Lake County Community Unit School District No. 187 North Chicago Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.25%, due 1/1/26 | 500,000 | 563,862 |
Series A, Insured: BAM | ||
4.25%, due 1/1/29 | 750,000 | 846,337 |
Principal Amount | Value | |
Municipal Bonds | ||
Illinois | ||
Lake County Community Unit School District No. 187 North Chicago Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.25%, due 1/1/30 | $ 750,000 | $ 841,116 |
Sales Tax Securitization Corp. Revenue Bonds, Second Lien | ||
Series B, Insured: BAM | ||
2.857%, due 1/1/31 | 3,000,000 | 3,242,394 |
Sales Tax Securitization Corp. Revenue Bonds | ||
3.372%, due 1/1/31 | 3,550,000 | 3,961,185 |
Sangamon County Water Reclamation District, Alternative Revenue Source Unlimited General Obligation | ||
Series B | ||
2.907%, due 1/1/34 | 1,885,000 | 1,948,687 |
State of Illinois, Sales Tax Revenue Bonds | ||
3.00%, due 6/15/25 | 3,750,000 | 3,951,783 |
State of Illinois Unlimited General Obligation | ||
Series B | ||
4.31%, due 4/1/23 | 500,000 | 522,520 |
5.10%, due 6/1/33 | 1,000,000 | 1,200,242 |
State of Illinois, Build America Bonds Unlimited General Obligation | ||
5.95%, due 3/1/23 | 450,000 | 480,867 |
Series 3, Insured: AGM | ||
6.725%, due 4/1/35 | 1,510,000 | 1,975,927 |
Insured: AGM | ||
6.875%, due 7/1/25 | 2,000,000 | 2,269,049 |
40,301,109 | ||
Indiana 0.4% | ||
Indiana University Revenue Bonds | ||
Series B | ||
2.19%, due 6/1/30 | 1,000,000 | 1,068,207 |
Series B | ||
2.29%, due 6/1/31 | 1,250,000 | 1,348,206 |
2,416,413 | ||
Kentucky 1.3% | ||
Kenton County Airport Board, Customer Facility Charge Revenue Bonds | ||
3.826%, due 1/1/29 | 925,000 | 1,034,618 |
4.489%, due 1/1/39 | 2,500,000 | 2,765,029 |
4.689%, due 1/1/49 | 1,400,000 | 1,539,515 |
Principal Amount | Value | |
Municipal Bonds | ||
Kentucky | ||
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds | ||
Series B, Insured: AGM | ||
4.435%, due 12/1/38 | $ 2,000,000 | $ 2,231,970 |
7,571,132 | ||
Louisiana 1.7% | ||
City of Bossier City LA, Utilities Revenue Bonds | ||
Insured: BAM | ||
2.00%, due 10/1/30 | 1,650,000 | 1,726,304 |
City of New Orleans LA, Sewerage Service Revenue Bonds | ||
Insured: AGM | ||
1.641%, due 6/1/29 | 2,000,000 | 1,998,564 |
Louisiana Local Government Environmental Facilities & Community Development Authority, East Baton Rouge Sewerage Commission Revenue Bonds, Sub. Lien | ||
Series A | ||
1.547%, due 2/1/27 | 2,505,000 | 2,534,247 |
Series A, Insured: AGM | ||
2.343%, due 2/1/33 | 2,000,000 | 2,087,572 |
State of Louisiana Gasoline & Fuels Tax Revenue Bonds | ||
Series A-2 | ||
1.498%, due 5/1/28 | 1,700,000 | 1,724,583 |
10,071,270 | ||
Maryland 1.5% | ||
City of Baltimore MD, Water Project Revenue Bonds | ||
Series B | ||
1.925%, due 7/1/31 | 1,045,000 | 1,064,774 |
County of Baltimore MD, Build America Bonds Unlimited General Obligation | ||
4.90%, due 11/1/32 | 1,000,000 | 1,262,641 |
Maryland Community Development Administration, Department of Housing & Community Development Revenue Bonds | ||
Series D | ||
2.644%, due 3/1/50 | 1,415,000 | 1,456,233 |
Maryland Economic Development Corp., Seagirt Marine Terminal Project Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/26 | 3,650,000 | 3,919,185 |
Series B | ||
4.125%, due 6/1/29 | 580,000 | 627,697 |
Principal Amount | Value | |
Municipal Bonds | ||
Maryland | ||
Maryland Economic Development Corp., Seagirt Marine Terminal Project Revenue Bonds | ||
Series B | ||
4.125%, due 6/1/30 | $ 500,000 | $ 535,826 |
8,866,356 | ||
Massachusetts 2.7% | ||
City of Worcester MA Limited General Obligation | ||
Series B, Insured: AGM | ||
1.514%, due 11/15/28 | 1,675,000 | 1,704,734 |
Commonwealth of Massachusetts Limited General Obligation | ||
Series E | ||
1.52%, due 11/1/30 | 2,400,000 | 2,405,319 |
Massachusetts Development Finance Agency, Berklee College of Music Issue Revenue Bonds | ||
Series A | ||
1.902%, due 10/1/27 | 1,000,000 | 1,014,634 |
Massachusetts Development Finance Agency, Lesley University Revenue Bonds | ||
Series B | ||
3.165%, due 7/1/32 | 1,705,000 | 1,816,349 |
Massachusetts Development Finance Agency, Wellforce Obligated Group Revenue Bonds | ||
Series B, Insured: AGM | ||
4.496%, due 7/1/33 | 2,545,000 | 2,906,326 |
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Senior Lien | ||
Series A | ||
2.455%, due 7/1/30 | 2,500,000 | 2,558,952 |
Series A | ||
2.555%, due 7/1/31 | 2,050,000 | 2,102,444 |
Massachusetts Port Authority Revenue Bonds | ||
Series C | ||
2.719%, due 7/1/42 | 2,000,000 | 2,018,936 |
16,527,694 | ||
Michigan 1.9% | ||
City of Grand Rapids MI, Sanitary Sewer System Revenue Bonds | ||
2.012%, due 1/1/32 | 2,000,000 | 2,033,601 |
Michigan Finance Authority, Local Government Loan Program Revenue Bonds | ||
Series C-1, Insured: State Aid Direct Deposit | ||
3.585%, due 11/1/35 | 1,000,000 | 1,142,318 |
Principal Amount | Value | |
Municipal Bonds | ||
Michigan | ||
Michigan Finance Authority, Local Government Loan Program Revenue Bonds | ||
Series E, Insured: State Aid Direct Deposit | ||
8.369%, due 11/1/35 | $ 715,000 | $ 1,086,349 |
Michigan Strategic Fund, Flint Water Advocacy Fund Project Revenue Bonds | ||
Series A | ||
2.128%, due 9/1/31 | 5,000,000 | 5,129,159 |
University of Michigan Revenue Bonds | ||
Series B | ||
1.672%, due 4/1/30 | 1,870,000 | 1,898,117 |
11,289,544 | ||
Mississippi 0.2% | ||
State of Mississippi Unlimited General Obligation | ||
Series A | ||
1.382%, due 11/1/29 | 1,000,000 | 1,001,284 |
Missouri 0.2% | ||
State of Missouri, Health & Educational Facilities Authority Revenue Bonds | ||
Series B | ||
2.744%, due 10/1/26 | 1,185,000 | 1,270,146 |
Nebraska 0.2% | ||
Nebraska Public Power District Revenue Bonds | ||
Series B-1 | ||
2.593%, due 1/1/29 | 1,350,000 | 1,465,838 |
New Jersey 3.3% | ||
Casino Reinvestment Development Authority, Inc. Revenue Bonds | ||
Series B, Insured: NATL-RE | ||
5.46%, due 6/1/25 | 2,105,000 | 2,226,889 |
City of Bayonne NJ, General Improvement Unlimited General Obligation | ||
Insured: AGM | ||
2.342%, due 7/1/33 | 3,720,000 | 3,795,189 |
City of Vineland NJ Unlimited General Obligation | ||
3.193%, due 4/15/29 | 1,175,000 | 1,277,243 |
Principal Amount | Value | |
Municipal Bonds | ||
New Jersey | ||
New Jersey Economic Development Authority, State Pension Funding Bonds Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
7.425%, due 2/15/29 | $ 534,000 | $ 699,002 |
New Jersey Educational Facilities Authority, The College Of New Jersey Revenue Bonds | ||
Series G, Insured: BAM | ||
3.459%, due 7/1/32 | 1,330,000 | 1,532,210 |
New Jersey Transportation Trust Fund Authority, Transportation System Revenue Bonds | ||
Series B | ||
2.631%, due 6/15/24 | 4,150,000 | 4,345,485 |
North Hudson Sewerage Authority Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
2.978%, due 6/1/29 | 1,000,000 | 1,095,536 |
South Jersey Transportation Authority Revenue Bonds | ||
Series B, Insured: BAM | ||
2.381%, due 11/1/27 | 1,750,000 | 1,783,374 |
Series B | ||
3.12%, due 11/1/26 | 500,000 | 527,891 |
Series B | ||
3.26%, due 11/1/27 | 500,000 | 533,955 |
Series B | ||
3.36%, due 11/1/28 | 2,000,000 | 2,134,660 |
19,951,434 | ||
New York 5.5% | ||
Brookhaven Local Development Corp., Long Island Community Hospital Project Revenue Bonds | ||
Series B | ||
4.50%, due 10/1/25 | 2,000,000 | 2,097,563 |
Series B | ||
6.00%, due 10/1/30 | 1,855,000 | 2,157,192 |
City of Yonkers NY Limited General Obligation | ||
Series C, Insured: BAM | ||
2.818%, due 5/1/28 | 1,000,000 | 1,057,611 |
Metropolitan Transportation Authority Revenue Bonds | ||
Series A-1 | ||
5.00%, due 2/1/23 | 5,000,000 | 5,355,453 |
New York City Industrial Development Agency, Yankee Stadium Project Revenue Bonds | ||
Series B, Insured: AGM | ||
2.681%, due 3/1/33 | 1,750,000 | 1,809,888 |
Principal Amount | Value | |
Municipal Bonds | ||
New York | ||
New York State Dormitory Authority, State Personal Income Tax Revenue Bonds | ||
Series C | ||
2.152%, due 3/15/31 | $ 5,090,000 | $ 5,230,652 |
New York State Dormitory Authority, Montefiore Obligated Group Revenue Bonds | ||
Series B, Insured: AGM | ||
4.946%, due 8/1/48 | 1,000,000 | 1,148,506 |
New York State Energy Research & Development Authority, Residential Solar And Energy Efficiency Financing, Green Bond Revenue Bonds | ||
Series A | ||
3.62%, due 4/1/25 | 750,000 | 806,312 |
Series A | ||
3.77%, due 4/1/26 | 1,045,000 | 1,143,804 |
Series A | ||
3.927%, due 4/1/27 | 995,000 | 1,104,031 |
Port Authority of New York & New Jersey, Consolidated 159th Revenue Bonds | ||
Series B | ||
6.04%, due 12/1/29 | 620,000 | 831,429 |
State of New York Unlimited General Obligation | ||
Series B | ||
1.84%, due 3/15/30 | 10,000,000 | 10,337,300 |
33,079,741 | ||
Ohio 4.9% | ||
American Municipal Power, Inc., Hydroelectric Projects Revenue Bonds | ||
Series D | ||
3.014%, due 2/15/31 | 2,000,000 | 2,162,870 |
Series C | ||
7.334%, due 2/15/28 | 4,000,000 | 5,119,179 |
City of Cleveland OH, Airport System Revenue Bonds | ||
Series A, Insured: BAM | ||
2.882%, due 1/1/31 | 1,400,000 | 1,509,853 |
Dayton Metro Library Unlimited General Obligation | ||
2.676%, due 12/1/29 | 2,035,000 | 2,231,422 |
JobsOhio Beverage System Revenue Bonds | ||
Series B | ||
3.985%, due 1/1/29 | 2,050,000 | 2,330,676 |
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds | ||
2.419%, due 11/15/30 | 1,245,000 | 1,337,143 |
2.519%, due 11/15/31 | 1,655,000 | 1,776,669 |
Principal Amount | Value | |
Municipal Bonds | ||
Ohio | ||
State of Ohio, Higher Education Unlimited General Obligation | ||
Series A | ||
1.50%, due 8/1/29 | $ 4,000,000 | $ 4,080,423 |
State of Ohio, Common Schools Unlimited General Obligation | ||
Series A | ||
1.50%, due 9/15/29 | 3,000,000 | 3,058,771 |
Summit County Development Finance Authority, Franciscan University of Steubenville Project Revenue Bonds | ||
Series B | ||
5.125%, due 11/1/48 | 1,000,000 | 1,110,613 |
Series A | ||
6.00%, due 11/1/48 (b) | 1,750,000 | 2,054,694 |
University of Cincinnati Revenue Bonds | ||
Series B | ||
2.533%, due 6/1/29 | 2,500,000 | 2,697,582 |
29,469,895 | ||
Oklahoma 0.8% | ||
Oklahoma Municipal Power Authority, Power Suply System Revenue Bonds | ||
Series B, Insured: AGM | ||
2.151%, due 1/1/31 | 1,500,000 | 1,554,011 |
Series B, Insured: AGM | ||
2.251%, due 1/1/32 | 1,450,000 | 1,509,451 |
Series B, Insured: AGM | ||
2.351%, due 1/1/33 | 1,475,000 | 1,539,666 |
4,603,128 | ||
Oregon 2.1% | ||
Oregon State Facilities Authority, Lewis & Clark College Project Revenue Bonds | ||
Series A | ||
2.486%, due 10/1/35 | 4,000,000 | 3,944,184 |
Port of Portland Airport OR, Portland International Airport Customer Facility Charge Revenue Bonds | ||
4.067%, due 7/1/39 | 1,000,000 | 1,092,731 |
State of Oregon, Article Xi-Q State Projects Unlimited General Obligation | ||
Series G | ||
1.315%, due 5/1/27 | 1,000,000 | 1,013,294 |
State of Oregon Unlimited General Obligation | ||
1.70%, due 8/1/29 | 2,135,000 | 2,205,386 |
1.70%, due 8/1/29 | 2,000,000 | 2,065,936 |
1.80%, due 8/1/30 | 1,000,000 | 1,034,717 |
Principal Amount | Value | |
Municipal Bonds | ||
Oregon | ||
Washington & Multnomah Counties School District No. 48J Beaverton Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
1.693%, due 6/15/30 | $ 1,500,000 | $ 1,526,474 |
12,882,722 | ||
Pennsylvania 8.7% | ||
Authority Improvement Municipalities, Carlow University Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/53 | 1,000,000 | 1,031,938 |
City of Philadelphia PA Unlimited General Obligation | ||
Series B, Insured: AGM | ||
1.618%, due 7/15/29 (a) | 3,000,000 | 3,017,080 |
Series B, Insured: AGM | ||
1.738%, due 7/15/30 (a) | 3,050,000 | 3,060,757 |
Series A | ||
2.664%, due 7/15/28 | 3,000,000 | 3,225,605 |
City of Philadelphia PA, Water & Wastewater Revenue Bonds | ||
Series B | ||
1.734%, due 11/1/28 | 2,740,000 | 2,785,032 |
City of Pittsburgh PA Unlimited General Obligation | ||
Series B | ||
1.679%, due 9/1/30 | 800,000 | 811,865 |
Commonwealth Financing Authority Revenue Bonds | ||
Series A | ||
2.991%, due 6/1/42 | 2,500,000 | 2,627,319 |
County of Allegheny PA Unlimited General Obligation | ||
Series C-79 | ||
1.438%, due 11/1/27 | 3,605,000 | 3,668,730 |
County of Beaver PA Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.979%, due 11/15/29 | 1,805,000 | 2,120,248 |
Pennsylvania Economic Development Financing Authority, State System of Higher Education Revenue Bonds | ||
1.364%, due 6/15/26 | 5,000,000 | 5,071,774 |
Pennsylvania Economic Development Financing Authority, Build America Bonds Revenue Bonds | ||
Series B | ||
6.532%, due 6/15/39 | 1,495,000 | 2,184,347 |
Principal Amount | Value | |
Municipal Bonds | ||
Pennsylvania | ||
Pennsylvania Higher Educational Facilities Authority, Widener University Revenue Bonds | ||
Series B | ||
2.789%, due 7/15/30 | $ 2,080,000 | $ 2,118,669 |
Philadelphia Authority for Industrial Development Revenue Bonds | ||
1.625%, due 4/15/26 | 1,850,000 | 1,872,040 |
2.216%, due 4/15/28 | 2,250,000 | 2,290,510 |
Reading Area Water Authority, Green Bond Revenue Bonds | ||
Insured: BAM | ||
2.209%, due 12/1/28 | 2,345,000 | 2,434,694 |
Insured: BAM | ||
2.309%, due 12/1/29 | 2,390,000 | 2,492,767 |
Insured: BAM | ||
2.439%, due 12/1/31 | 3,295,000 | 3,433,345 |
State Public School Building Authority, School District of Philadelphia (The) Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
3.046%, due 4/1/28 | 1,920,000 | 2,094,399 |
Temple University-of The Commonwealth System of Higher Education Revenue Bonds | ||
Insured: State Appropriations | ||
1.657%, due 4/1/26 | 2,520,000 | 2,576,033 |
Insured: State Appropriations | ||
1.857%, due 4/1/27 | 3,445,000 | 3,541,311 |
52,458,463 | ||
Rhode Island 1.6% | ||
Rhode Island Commerce Corp., Historic Structures Tax Credit Financing Program Revenue Bonds | ||
Series A | ||
3.297%, due 5/1/28 | 1,000,000 | 1,115,969 |
Rhode Island Health and Educational Building Corp., Rhode Island School of Design Revenue Bonds | ||
1.991%, due 8/15/27 | 2,500,000 | 2,602,614 |
Rhode Island Turnpike & Bridge Authority Revenue Bonds | ||
Series 1 | ||
2.761%, due 12/1/29 | 1,570,000 | 1,698,605 |
State of Rhode Island Unlimited General Obligation | ||
Series D | ||
1.80%, due 10/15/31 | 4,000,000 | 4,111,698 |
9,528,886 |
Principal Amount | Value | |
Municipal Bonds | ||
South Carolina 1.2% | ||
South Carolina Public Service Authority Revenue Bonds | ||
Series E | ||
4.322%, due 12/1/27 | $ 6,040,000 | $ 7,074,793 |
South Dakota 0.2% | ||
Sioux Falls School District No. 49-5 Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
1.982%, due 8/1/31 | 1,015,000 | 1,059,236 |
Tennessee 0.7% | ||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Lipscomb University Project Revenue Bonds | ||
Series B | ||
4.409%, due 10/1/34 | 1,280,000 | 1,373,677 |
Tennessee Energy Acquisition Corp. Revenue Bonds | ||
Series A | ||
4.00%, due 5/1/48 (c) | 2,500,000 | 2,651,360 |
4,025,037 | ||
Texas 7.4% | ||
Central Texas Regional Mobility Authority Revenue Bonds, Senior Lien | ||
Series C | ||
1.837%, due 1/1/27 | 1,290,000 | 1,308,336 |
City of Austin TX, Rental Car Special Facility Revenue Bonds | ||
Insured: AGM | ||
1.71%, due 11/15/29 | 1,645,000 | 1,664,277 |
City of Brownsville TX, Utilities System Revenue Bonds | ||
Series A, Insured: AGM | ||
1.477%, due 9/1/27 | 1,500,000 | 1,515,587 |
City of Corpus Christi TX, Utility System Revenue Bonds, Junior Lien | ||
Series B | ||
1.489%, due 7/15/27 | 2,250,000 | 2,297,834 |
Series B | ||
1.706%, due 7/15/28 | 2,500,000 | 2,558,905 |
City of Dallas TX, Waterworks & Sewer System Revenue Bonds | ||
Series D | ||
1.347%, due 10/1/26 | 1,000,000 | 1,021,478 |
Principal Amount | Value | |
Municipal Bonds | ||
Texas | ||
City of Houston TX, Combined Utility System Revenue Bonds, First Lien | ||
Series B | ||
1.516%, due 11/15/28 | $ 1,400,000 | $ 1,427,993 |
City of Houston TX, Airport System Revenue Bonds, Sub. Lien | ||
Series C | ||
1.816%, due 7/1/27 | 2,000,000 | 2,059,423 |
City of Houston TX Limited General Obligation | ||
Series B | ||
2.366%, due 3/1/28 | 2,855,000 | 3,059,106 |
Dallas Fort Worth International Airport Revenue Bonds | ||
Series C | ||
1.749%, due 11/1/27 | 2,000,000 | 2,062,953 |
El Paso Independent School District Unlimited General Obligation | ||
Series A, Insured: PSF | ||
5.00%, due 8/15/28 | 4,000,000 | 5,010,051 |
Gainesville Hospital District Limited General Obligation | ||
Series A | ||
4.753%, due 8/15/23 | 1,520,000 | 1,618,488 |
Pflugerville Independent School District Unlimited General Obligation | ||
Insured: PSF | ||
4.25%, due 2/15/30 | 1,500,000 | 1,851,242 |
Port of Corpus Christi Authority of Nueces County Revenue Bonds, Senior Lien | ||
Series B | ||
4.875%, due 12/1/38 | 2,000,000 | 2,293,836 |
San Antonio Education Facilities Corp., University of the Incarnate Word Project Revenue Bonds | ||
Series B | ||
2.50%, due 4/1/29 | 1,000,000 | 1,005,863 |
Series B | ||
2.65%, due 4/1/30 | 1,100,000 | 1,107,142 |
Series B | ||
2.73%, due 4/1/31 | 750,000 | 755,082 |
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Obligated Group Revenue Bonds | ||
Insured: AGM | ||
1.824%, due 9/1/27 | 900,000 | 915,897 |
Insured: AGM | ||
2.411%, due 9/1/31 | 2,350,000 | 2,426,663 |
Principal Amount | Value | |
Municipal Bonds | ||
Texas | ||
Texas Transportation Commission Unlimited General Obligation | ||
1.383%, due 10/1/28 | $ 8,270,000 | $ 8,359,686 |
44,319,842 | ||
Utah 0.6% | ||
County of Salt Lake UT, Convention Hotel Revenue Bonds | ||
5.25%, due 10/1/34 (b) | 3,610,000 | 3,809,231 |
Virginia 1.1% | ||
Farmville Industrial Development Authority, Longwood University Student Housing Project Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/34 | 2,000,000 | 2,184,432 |
Fredericksburg Economic Development Authority, Fredericksburg Stadium Project Revenue Bonds | ||
Series A | ||
4.00%, due 9/1/29 (b) | 2,315,000 | 2,525,514 |
Virginia Resources Authority, Infrastructure Revenue Revenue Bonds | ||
Series C, Insured: Moral Obligation | ||
2.55%, due 11/1/28 | 2,050,000 | 2,234,951 |
6,944,897 | ||
Washington 1.3% | ||
Klickitat County Public Utility District No. 1 Revenue Bonds | ||
Series B, Insured: AGM | ||
2.803%, due 12/1/29 | 700,000 | 751,723 |
Northwest Open Access Network Revenue Bonds | ||
1.685%, due 12/1/27 | 1,260,000 | 1,281,983 |
1.95%, due 12/1/28 | 1,865,000 | 1,917,453 |
2.04%, due 12/1/29 | 1,000,000 | 1,028,512 |
2.12%, due 12/1/30 | 750,000 | 769,689 |
Spokane Public Facilities District Revenue Bonds | ||
Series B | ||
1.996%, due 12/1/30 | 2,000,000 | 2,054,457 |
7,803,817 | ||
West Virginia 0.6% | ||
County of Ohio WV, Special District Excise Tax Revenue Bonds | ||
Series A | ||
4.00%, due 3/1/40 | 3,500,000 | 3,516,673 |
Principal Amount | Value | ||
Municipal Bonds | |||
Wisconsin 0.4% | |||
State of Wisconsin Revenue Bonds | |||
Series A | |||
2.399%, due 5/1/30 | $ 2,000,000 | $ 2,144,889 | |
Total Municipal Bonds (Cost $525,485,338) | 549,222,889 | ||
U.S. Government & Federal Agencies 0.1% | |||
Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.1% | |||
FHLMC Gold Pools, 30 Year | |||
4.00%, due 10/1/48 | 163,355 | 179,204 | |
6.50%, due 4/1/37 | 28,208 | 33,588 | |
212,792 | |||
Government National Mortgage Association (Mortgage Pass-Through Security) 0.0% ‡ | |||
GNMA I, 30 Year | |||
6.50%, due 4/15/31 | 115,093 | 131,246 | |
Total U.S. Government & Federal Agencies (Cost $309,556) | 344,038 | ||
Total Long-Term Bonds (Cost $549,692,380) | 574,420,781 | ||
Shares | |||
Short-Term Investments 7.1% | |||
Affiliated Investment Company 6.7% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (d) | 39,975,030 | 39,975,030 | |
Principal Amount | |||
Short-Term Municipal Note 0.4% | |||
County of Sacramento CA Insured: AGM | |||
1.55%, due7/10/30 (e) | 2,500,000 | 2,494,023 | |
Total Short-Term Municipal Note (Cost $2,494,729) | 2,494,023 | ||
Total Short-Term Investments (Cost $42,469,759) | 42,469,053 | ||
Total Investments (Cost $592,162,139) | 102.6% | 616,889,834 | |
Other Assets, Less Liabilities | (2.6) | (15,459,242) | |
Net Assets | 100.0% | $ 601,430,592 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Delayed delivery security. |
(b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(c) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
(d) | Current yield as of July 31, 2021. |
(e) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
Abbreviation(s): |
AGM—Assured Guaranty Municipal Corp. |
AMBAC—Ambac Assurance Corp. |
BAM—Build America Mutual Assurance Co. |
CR—Custodial Receipts |
FHLMC—Federal Home Loan Mortgage Corp. |
GNMA—Government National Mortgage Association |
NATL-RE—National Public Finance Guarantee Corp. |
PSF—Permanent School Fund |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Asset-Backed Security | $ — | $ 101,827 | $ — | $ 101,827 | |||
Corporate Bonds | — | 24,752,027 | — | 24,752,027 | |||
Municipal Bonds | — | 549,222,889 | — | 549,222,889 | |||
U.S. Government & Federal Agencies | — | 344,038 | — | 344,038 | |||
Total Long-Term Bonds | — | 574,420,781 | — | 574,420,781 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 39,975,030 | — | — | 39,975,030 | |||
Short-Term Municipal Note | — | 2,494,023 | — | 2,494,023 | |||
Total Short-Term Investments | 39,975,030 | 2,494,023 | — | 42,469,053 | |||
Total Investments in Securities | $ 39,975,030 | $ 576,914,804 | $ — | $ 616,889,834 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay MacKay Strategic Bond Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Principal Amount | Value | |
Long-Term Bonds 92.0% | ||
Asset-Backed Securities 10.8% | ||
Automobile Asset-Backed Securities 3.0% | ||
American Credit Acceptance Receivables Trust | ||
Series 2020-2, Class C | ||
3.88%, due 4/13/26 (a) | $ 2,725,000 | $ 2,853,114 |
Avis Budget Rental Car Funding AESOP LLC (a) | ||
Series 2021-1A, Class A | ||
1.38%, due 8/20/27 | 2,000,000 | 2,005,273 |
Series 2020-2A, Class A | ||
2.02%, due 2/20/27 | 1,775,000 | 1,834,234 |
Series 2020-1A, Class A | ||
2.33%, due 8/20/26 | 1,260,000 | 1,323,428 |
Series 2018-2A, Class A | ||
4.00%, due 3/20/25 | 1,405,000 | 1,517,596 |
Drive Auto Receivables Trust | ||
Series 2021-1, Class D | ||
1.45%, due 1/16/29 | 2,215,000 | 2,232,458 |
Flagship Credit Auto Trust | ||
Series 2019-2, Class E | ||
4.52%, due 12/15/26 (a) | 815,000 | 861,395 |
Ford Credit Floorplan Master Owner Trust | ||
Series 2019-4, Class A | ||
2.44%, due 9/15/26 | 1,465,000 | 1,544,441 |
Series 2018-4, Class A | ||
4.06%, due 11/15/30 | 1,570,000 | 1,791,769 |
GLS Auto Receivables Trust | ||
Series 2021-2A, Class D | ||
1.42%, due 4/15/27 (a) | 915,000 | 915,719 |
Hertz Vehicle Financing III LP (a) | ||
Series 2021-2A, Class B | ||
2.12%, due 12/27/27 | 1,220,000 | 1,237,709 |
Series 2021-2A, Class C | ||
2.52%, due 12/27/27 | 1,000,000 | 1,017,473 |
Hertz Vehicle Financing LLC | ||
Series 2021-1A, Class C | ||
2.05%, due 12/26/25 (a) | 800,000 | 806,858 |
Santander Revolving Auto Loan Trust | ||
Series 2019-A, Class A | ||
2.51%, due 1/26/32 (a) | 675,000 | 713,445 |
20,654,912 | ||
Home Equity Asset-Backed Securities 0.6% | ||
Carrington Mortgage Loan Trust | ||
Series 2007-HE1, Class A3 | ||
0.279% (1 Month LIBOR + 0.19%), due 6/25/37 (b) | 2,825,739 | 2,790,363 |
First NLC Trust | ||
Series 2007-1, Class A1 | ||
0.159% (1 Month LIBOR + 0.07%), due 8/25/37 (a)(b) | 274,110 | 175,304 |
Principal Amount | Value | |
Asset-Backed Securities | ||
Home Equity Asset-Backed Securities | ||
GSAA Home Equity Trust | ||
Series 2007-8, Class A3 | ||
0.989% (1 Month LIBOR + 0.90%), due 8/25/37 (b) | $ 90,518 | $ 90,547 |
JPMorgan Mortgage Acquisition Trust | ||
Series 2007-HE1, Class AF1 | ||
0.189% (1 Month LIBOR + 0.10%), due 3/25/47 (b) | 96,154 | 64,767 |
Mastr Asset-Backed Securities Trust | ||
Series 2006-HE4, Class A1 | ||
0.189% (1 Month LIBOR + 0.10%), due 11/25/36 (b) | 74,370 | 32,895 |
Morgan Stanley ABS Capital I, Inc. Trust (b) | ||
Series 2007-HE4, Class A2A | ||
0.199% (1 Month LIBOR + 0.11%), due 2/25/37 | 78,363 | 33,754 |
Series 2007-HE7, Class M1 | ||
2.089% (1 Month LIBOR + 2.00%), due 7/25/37 | 635,000 | 661,929 |
3,849,559 | ||
Other Asset-Backed Securities 7.2% | ||
American Airlines Pass-Through Trust | ||
Series 2019-1, Class B | ||
3.85%, due 2/15/28 | 974,364 | 935,296 |
Series 2016-1, Class A | ||
4.10%, due 1/15/28 | 971,377 | 974,956 |
Series 2013-2, Class A | ||
4.95%, due 1/15/23 | 1,358,528 | 1,385,632 |
Series 2016-1, Class B | ||
5.25%, due 1/15/24 | 1,006,712 | 990,774 |
CF Hippolyta LLC (a) | ||
Series 2020-1, Class A1 | ||
1.69%, due 7/15/60 | 1,665,116 | 1,702,408 |
Series 2021-1A, Class B1 | ||
1.98%, due 3/15/61 | 3,893,199 | 3,953,958 |
Series 2020-1, Class A2 | ||
1.99%, due 7/15/60 | 1,050,312 | 1,072,628 |
Continental Airlines Pass-Through Trust | ||
Series 2007-1, Class A | ||
5.983%, due 4/19/22 | 1,396,062 | 1,422,618 |
Crown Castle Towers LLC | ||
4.241%, due 7/15/28 (a) | 3,825,000 | 4,339,608 |
CVS Pass-Through Trust | ||
5.789%, due 1/10/26 (a) | 33,082 | 36,263 |
DB Master Finance LLC | ||
Series 2019-1A, Class A23 | ||
4.352%, due 5/20/49 (a) | 1,424,625 | 1,569,395 |
Domino's Pizza Master Issuer LLC (a) | ||
Series 2018-1A, Class A2I | ||
4.116%, due 7/25/48 | 155,600 | 162,054 |
Series 2015-1A, Class A2II | ||
4.474%, due 10/25/45 | 2,452,688 | 2,564,849 |
Principal Amount | Value | |
Asset-Backed Securities | ||
Other Asset-Backed Securities | ||
FirstKey Homes Trust (a) | ||
Series 2021-SFR1, Class B | ||
1.788%, due 8/17/38 | $ 1,565,000 | $ 1,578,764 |
Series 2021-SFR1, Class C | ||
1.888%, due 8/17/38 | 2,650,000 | 2,673,212 |
Hilton Grand Vacations Trust (a) | ||
Series 2019-AA, Class A | ||
2.34%, due 7/25/33 | 1,844,906 | 1,900,538 |
Series 2020-AA, Class A | ||
2.74%, due 2/25/39 | 1,091,901 | 1,135,764 |
Series 2020-AA, Class B | ||
4.22%, due 2/25/39 | 979,188 | 1,042,994 |
MVW LLC | ||
Series 2019-2A, Class A | ||
2.22%, due 10/20/38 (a) | 1,539,059 | 1,572,071 |
Navient Private Education Refi Loan Trust (a) | ||
Series 2021-EA, Class B | ||
2.03%, due 12/16/69 | 2,025,000 | 2,018,578 |
Series 2020-GA, Class B | ||
2.50%, due 9/16/69 | 1,145,000 | 1,167,966 |
Series 2020-HA, Class B | ||
2.78%, due 1/15/69 | 500,000 | 520,429 |
PFS Financing Corp. (a) | ||
Series 2020-B, Class B | ||
1.71%, due 6/15/24 | 685,000 | 691,317 |
Series 2020-A, Class B | ||
1.77%, due 6/15/25 | 1,475,000 | 1,498,554 |
Progress Residential | ||
Series 2021-SFR4, Class B | ||
1.808%, due 5/17/38 (a) | 1,340,000 | 1,354,572 |
Progress Residential Trust | ||
Series 2021-SFR2, Class B | ||
1.796%, due 4/19/38 (a) | 2,000,000 | 2,016,834 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2021-1A, Class C | ||
1.79%, due 11/20/37 (a) | 597,782 | 601,944 |
U.S. Airways Pass-Through Trust | ||
Series 2010-1, Class A | ||
6.25%, due 4/22/23 | 3,632,683 | 3,693,408 |
United Airlines Pass-Through Trust | ||
Series 2014-2, Class B | ||
4.625%, due 9/3/22 | 3,029,986 | 3,107,554 |
Series 2020-1, Class A | ||
5.875%, due 10/15/27 | 1,414,399 | 1,573,372 |
49,258,310 | ||
Total Asset-Backed Securities (Cost $71,814,064) | 73,762,781 |
Principal Amount | Value | |
Corporate Bonds 48.3% | ||
Advertising 0.2% | ||
Clear Channel International BV | ||
6.625%, due 8/1/25 (a) | $ 1,077,000 | $ 1,129,504 |
Aerospace & Defense 0.2% | ||
BAE Systems plc | ||
3.00%, due 9/15/50 (a) | 605,000 | 608,903 |
Teledyne FLIR LLC | ||
2.50%, due 8/1/30 | 965,000 | 994,480 |
1,603,383 | ||
Agriculture 0.2% | ||
BAT Capital Corp. | ||
3.734%, due 9/25/40 | 1,330,000 | 1,335,597 |
Airlines 1.1% | ||
American Airlines, Inc. (a) | ||
5.50%, due 4/20/26 | 1,100,000 | 1,150,875 |
5.75%, due 4/20/29 | 660,000 | 711,929 |
Delta Air Lines, Inc. (a) | ||
4.50%, due 10/20/25 | 845,000 | 908,375 |
4.75%, due 10/20/28 | 590,000 | 659,325 |
7.00%, due 5/1/25 | 2,010,000 | 2,364,262 |
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (a) | 1,520,000 | 1,654,900 |
7,449,666 | ||
Auto Manufacturers 2.1% | ||
Ford Motor Co. | ||
8.50%, due 4/21/23 | 1,925,000 | 2,137,193 |
9.00%, due 4/22/25 | 2,000,000 | 2,461,900 |
Ford Motor Credit Co. LLC | ||
3.35%, due 11/1/22 | 1,115,000 | 1,140,333 |
4.063%, due 11/1/24 | 2,280,000 | 2,416,447 |
4.25%, due 9/20/22 | 860,000 | 883,512 |
General Motors Co. | ||
6.125%, due 10/1/25 | 585,000 | 692,461 |
General Motors Financial Co., Inc. | ||
2.35%, due 1/8/31 | 708,000 | 708,467 |
2.70%, due 6/10/31 | 1,525,000 | 1,561,668 |
2.90%, due 2/26/25 | 2,500,000 | 2,653,330 |
14,655,311 | ||
Banks 10.3% | ||
Bank of America Corp. | ||
2.087%, due 6/14/29 (c) | 1,275,000 | 1,298,295 |
Series MM | ||
4.30%, due 1/28/25 (c)(d) | 3,526,000 | 3,636,011 |
Principal Amount | Value | |
Corporate Bonds | ||
Banks | ||
Bank of America Corp. | ||
Series DD | ||
6.30%, due 3/10/26 (c)(d) | $ 3,570,000 | $ 4,167,975 |
8.57%, due 11/15/24 | 1,645,000 | 2,041,173 |
Barclays plc | ||
2.852%, due 5/7/26 (c) | 2,375,000 | 2,519,678 |
BNP Paribas SA (a) | ||
3.052%, due 1/13/31 (c) | 2,135,000 | 2,279,223 |
4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 (b)(d) | 1,250,000 | 1,299,750 |
Citigroup, Inc. | ||
Series M | ||
6.30%, due 5/15/24 (c)(d) | 3,260,000 | 3,511,020 |
Citizens Financial Group, Inc. | ||
2.638%, due 9/30/32 | 2,270,000 | 2,298,840 |
Series G | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.215%), due 10/6/26 (b)(d) | 1,095,000 | 1,114,162 |
Credit Suisse Group AG | ||
3.091%, due 5/14/32 (a)(c) | 1,485,000 | 1,551,177 |
Deutsche Bank AG | ||
3.035%, due 5/28/32 (c) | 750,000 | 775,724 |
4.875% (USISDA05 + 2.553%), due 12/1/32 (b) | 1,710,000 | 1,855,367 |
Freedom Mortgage Corp. | ||
7.625%, due 5/1/26 (a) | 1,955,000 | 2,006,319 |
Goldman Sachs Group, Inc. (The) (c) | ||
2.908%, due 7/21/42 | 380,000 | 384,466 |
3.21%, due 4/22/42 | 1,330,000 | 1,406,961 |
Intesa Sanpaolo SpA | ||
4.198%, due 6/1/32 (a) | 2,350,000 | 2,418,347 |
JPMorgan Chase & Co. (c) | ||
2.956%, due 5/13/31 | 980,000 | 1,043,694 |
Series HH | ||
4.60%, due 2/1/25 (d) | 4,462,000 | 4,618,170 |
Lloyds Banking Group plc | ||
4.582%, due 12/10/25 | 1,365,000 | 1,538,538 |
4.65%, due 3/24/26 | 1,985,000 | 2,264,294 |
Morgan Stanley | ||
Series H | ||
3.736% (3 Month LIBOR + 3.61%), due 10/15/21 (b)(d) | 4,098,000 | 4,114,392 |
Natwest Group plc (b) | ||
3.073% (1 Year Treasury Constant Maturity Rate + 2.55%), due 5/22/28 | 2,145,000 | 2,290,265 |
4.60% (5 Year Treasury Constant Maturity Rate + 3.10%), due 6/28/31 (d) | 1,860,000 | 1,904,175 |
Popular, Inc. | ||
6.125%, due 9/14/23 | 1,582,000 | 1,704,605 |
Santander Holdings USA, Inc. | ||
3.40%, due 1/18/23 | 1,500,000 | 1,560,127 |
Societe Generale SA (a)(b)(d) | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 | 715,000 | 738,237 |
5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | 2,380,000 | 2,570,400 |
Principal Amount | Value | |
Corporate Bonds | ||
Banks | ||
Standard Chartered plc (a)(b) | ||
2.678% (1 Year Treasury Constant Maturity Rate + 1.20%), due 6/29/32 | $ 1,325,000 | $ 1,343,186 |
4.75% (5 Year Treasury Constant Maturity Rate + 3.805%), due 1/14/31 (d) | 945,000 | 968,625 |
SVB Financial Group | ||
Series C | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.202%), due 5/15/26 (b)(d) | 1,385,000 | 1,438,669 |
Texas Capital Bancshares, Inc. | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.15%), due 5/6/31 (b) | 1,075,000 | 1,118,723 |
UBS Group AG | ||
4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (a)(b)(d) | 1,825,000 | 1,879,750 |
Wells Fargo & Co. (c) | ||
3.584%, due 5/22/28 | 380,000 | 421,591 |
Series S | ||
5.90%, due 6/15/24 (d) | 3,690,000 | 3,977,746 |
70,059,675 | ||
Beverages 0.3% | ||
Anheuser-Busch InBev Worldwide, Inc. | ||
4.75%, due 1/23/29 | 1,770,000 | 2,129,060 |
Biotechnology 0.1% | ||
Biogen, Inc. | ||
3.15%, due 5/1/50 | 890,000 | 887,321 |
Building Materials 0.3% | ||
Builders FirstSource, Inc. (a) | ||
5.00%, due 3/1/30 | 1,060,000 | 1,127,575 |
6.75%, due 6/1/27 | 631,000 | 675,170 |
1,802,745 | ||
Chemicals 1.0% | ||
Alpek SAB de CV | ||
3.25%, due 2/25/31 (a) | 825,000 | 837,375 |
Braskem Netherlands Finance BV | ||
4.50%, due 1/10/28 (a) | 1,250,000 | 1,322,750 |
International Flavors & Fragrances, Inc. | ||
2.30%, due 11/1/30 (a) | 1,475,000 | 1,509,174 |
Orbia Advance Corp. SAB de CV | ||
4.00%, due 10/4/27 (a) | 2,600,000 | 2,856,100 |
6,525,399 | ||
Commercial Services 2.1% | ||
Allied Universal Holdco LLC | ||
6.625%, due 7/15/26 (a) | 2,130,000 | 2,255,137 |
Ashtead Capital, Inc. | ||
4.25%, due 11/1/29 (a) | 2,060,000 | 2,232,525 |
California Institute of Technology | ||
3.65%, due 9/1/19 | 1,118,000 | 1,311,994 |
Principal Amount | Value | |
Corporate Bonds | ||
Commercial Services | ||
IHS Markit Ltd. | ||
3.625%, due 5/1/24 | $ 3,710,000 | $ 3,954,155 |
Sodexo, Inc. | ||
2.718%, due 4/16/31 (a) | 1,805,000 | 1,869,759 |
Trustees of the University of Pennsylvania (The) | ||
3.61%, due 2/15/19 | 2,315,000 | 2,786,200 |
14,409,770 | ||
Computers 1.5% | ||
Dell International LLC | ||
4.90%, due 10/1/26 | 4,000,000 | 4,662,360 |
8.10%, due 7/15/36 | 1,045,000 | 1,624,589 |
NCR Corp. (a) | ||
5.00%, due 10/1/28 | 1,629,000 | 1,677,504 |
6.125%, due 9/1/29 | 717,000 | 777,594 |
8.125%, due 4/15/25 | 1,193,000 | 1,295,896 |
10,037,943 | ||
Diversified Financial Services 4.3% | ||
AerCap Ireland Capital DAC | ||
3.50%, due 5/26/22 | 892,000 | 910,850 |
Air Lease Corp. | ||
2.30%, due 2/1/25 | 3,275,000 | 3,403,725 |
3.25%, due 3/1/25 | 4,000,000 | 4,275,835 |
Aircastle Ltd. | ||
5.25% (5 Year Treasury Constant Maturity Rate + 4.41%), due 6/15/26 (a)(b)(d) | 870,000 | 878,700 |
Ally Financial, Inc. | ||
5.75%, due 11/20/25 | 3,820,000 | 4,367,915 |
8.00%, due 11/1/31 | 3,280,000 | 4,770,168 |
Avolon Holdings Funding Ltd. | ||
3.25%, due 2/15/27 (a) | 2,125,000 | 2,234,737 |
Banco BTG Pactual SA | ||
2.75%, due 1/11/26 (a) | 2,695,000 | 2,622,504 |
Capital One Financial Corp. | ||
Series E | ||
3.935% (3 Month LIBOR + 3.80%), due 9/1/21 (b)(d) | 1,535,000 | 1,538,684 |
Home Point Capital, Inc. | ||
5.00%, due 2/1/26 (a) | 702,000 | 647,841 |
Intercontinental Exchange, Inc. | ||
3.00%, due 9/15/60 | 1,560,000 | 1,552,053 |
OneMain Finance Corp. | ||
3.50%, due 1/15/27 | 1,835,000 | 1,867,113 |
29,070,125 | ||
Electric 1.8% | ||
Appalachian Power Co. | ||
Series X | ||
3.30%, due 6/1/27 | 1,800,000 | 1,968,849 |
Principal Amount | Value | |
Corporate Bonds | ||
Electric | ||
Duke Energy Corp. | ||
4.875% (5 Year Treasury Constant Maturity Rate + 3.388%), due 9/16/24 (b)(d) | $ 2,415,000 | $ 2,573,183 |
Pacific Gas and Electric Co. | ||
3.50%, due 8/1/50 | 1,205,000 | 1,077,254 |
Potomac Electric Power Co. | ||
4.15%, due 3/15/43 | 1,305,000 | 1,610,194 |
WEC Energy Group, Inc. | ||
2.268% (3 Month LIBOR + 2.112%), due 5/15/67 (b) | 5,495,000 | 5,158,376 |
12,387,856 | ||
Environmental Control 0.0% ‡ | ||
Stericycle, Inc. | ||
3.875%, due 1/15/29 (a) | 215,000 | 217,956 |
Food 1.2% | ||
JBS USA Food Co. | ||
7.00%, due 1/15/26 (a) | 960,000 | 1,016,400 |
Kraft Heinz Foods Co. | ||
4.25%, due 3/1/31 | 1,722,000 | 1,987,142 |
5.00%, due 7/15/35 | 809,000 | 1,000,399 |
Performance Food Group, Inc. (a) | ||
4.25%, due 8/1/29 | 660,000 | 670,725 |
5.50%, due 10/15/27 | 1,946,000 | 2,027,096 |
Smithfield Foods, Inc. | ||
3.00%, due 10/15/30 (a) | 1,520,000 | 1,553,871 |
Tyson Foods, Inc. | ||
3.95%, due 8/15/24 | 2,000 | 2,176 |
8,257,809 | ||
Gas 0.1% | ||
National Fuel Gas Co. | ||
2.95%, due 3/1/31 | 810,000 | 833,582 |
Healthcare-Services 0.5% | ||
Health Care Service Corp. A Mutual Legal Reserve Co. | ||
3.20%, due 6/1/50 (a) | 1,445,000 | 1,549,764 |
NYU Langone Hospitals | ||
Series 2020 | ||
3.38%, due 7/1/55 | 1,635,000 | 1,787,270 |
3,337,034 | ||
Home Builders 0.2% | ||
Lennar Corp. | ||
4.75%, due 11/29/27 | 188,000 | 219,060 |
Toll Brothers Finance Corp. | ||
3.80%, due 11/1/29 | 495,000 | 534,600 |
4.35%, due 2/15/28 | 303,000 | 335,572 |
1,089,232 |
Principal Amount | Value | |
Corporate Bonds | ||
Household Products & Wares 0.3% | ||
Kronos Acquisition Holdings, Inc. | ||
5.00%, due 12/31/26 (a) | $ 1,710,000 | $ 1,733,949 |
Insurance 2.2% | ||
Athene Global Funding | ||
2.50%, due 3/24/28 (a) | 1,900,000 | 1,976,402 |
Empower Finance 2020 LP | ||
3.075%, due 9/17/51 (a) | 1,495,000 | 1,562,882 |
Lincoln National Corp. | ||
2.513% (3 Month LIBOR + 2.357%), due 5/17/66 (b) | 3,537,000 | 3,182,800 |
NMI Holdings, Inc. | ||
7.375%, due 6/1/25 (a) | 685,000 | 780,900 |
Protective Life Corp. | ||
8.45%, due 10/15/39 | 2,476,000 | 4,060,994 |
Reliance Standard Life Global Funding II | ||
2.50%, due 10/30/24 (a) | 2,900,000 | 3,032,435 |
Willis North America, Inc. | ||
3.875%, due 9/15/49 | 425,000 | 484,170 |
15,080,583 | ||
Internet 1.0% | ||
Cablevision Lightpath LLC | ||
3.875%, due 9/15/27 (a) | 1,480,000 | 1,468,900 |
Expedia Group, Inc. | ||
3.25%, due 2/15/30 | 3,920,000 | 4,114,428 |
3.60%, due 12/15/23 | 895,000 | 950,848 |
6.25%, due 5/1/25 (a) | 189,000 | 220,432 |
Match Group Holdings II LLC | ||
4.125%, due 8/1/30 (a) | 122,000 | 127,642 |
6,882,250 | ||
Iron & Steel 0.6% | ||
Vale Overseas Ltd. | ||
3.75%, due 7/8/30 | 1,660,000 | 1,776,200 |
6.25%, due 8/10/26 | 1,980,000 | 2,376,792 |
4,152,992 | ||
Lodging 1.2% | ||
Hilton Domestic Operating Co., Inc. | ||
4.875%, due 1/15/30 | 1,930,000 | 2,070,099 |
5.375%, due 5/1/25 (a) | 935,000 | 977,178 |
Marriott International, Inc. | ||
3.75%, due 10/1/25 | 4,253,000 | 4,615,301 |
Series X | ||
4.00%, due 4/15/28 | 605,000 | 669,264 |
8,331,842 |
Principal Amount | Value | |
Corporate Bonds | ||
Machinery-Diversified 0.2% | ||
Clark Equipment Co. | ||
5.875%, due 6/1/25 (a) | $ 1,225,000 | $ 1,296,969 |
Media 0.5% | ||
Grupo Televisa SAB | ||
5.25%, due 5/24/49 | 1,695,000 | 2,211,799 |
Time Warner Entertainment Co. LP | ||
8.375%, due 3/15/23 | 1,087,000 | 1,222,115 |
3,433,914 | ||
Mining 0.7% | ||
Glencore Funding LLC | ||
1.625%, due 9/1/25 (a) | 2,225,000 | 2,259,757 |
Industrias Penoles SAB de CV | ||
4.75%, due 8/6/50 (a) | 1,962,000 | 2,192,437 |
4,452,194 | ||
Miscellaneous—Manufacturing 0.5% | ||
Textron Financial Corp. | ||
1.891% (3 Month LIBOR + 1.735%), due 2/15/42 (a)(b) | 4,350,000 | 3,686,118 |
Oil & Gas 1.1% | ||
BP Capital Markets plc | ||
4.875% (5 Year Treasury Constant Maturity Rate + 4.398%), due 3/22/30 (b)(d) | 390,000 | 430,580 |
Gazprom PJSC Via Gaz Capital SA | ||
7.288%, due 8/16/37 (a) | 2,520,000 | 3,514,140 |
Marathon Petroleum Corp. | ||
4.50%, due 5/1/23 | 1,330,000 | 1,414,789 |
4.70%, due 5/1/25 | 1,450,000 | 1,633,433 |
Petrobras Global Finance BV | ||
5.50%, due 6/10/51 | 810,000 | 796,837 |
7,789,779 | ||
Packaging & Containers 1.1% | ||
Berry Global, Inc. | ||
4.875%, due 7/15/26 (a) | 135,000 | 142,169 |
Crown European Holdings SA | ||
4.00%, due 7/15/22 (a) | EUR 3,540,000 | 4,312,539 |
Graham Packaging Co., Inc. | ||
7.125%, due 8/15/28 (a) | $ 750,000 | 799,687 |
Owens-Brockway Glass Container, Inc. | ||
6.625%, due 5/13/27 (a) | 2,325,000 | 2,511,000 |
7,765,395 | ||
Pharmaceuticals 0.8% | ||
AbbVie, Inc. | ||
4.25%, due 11/21/49 | 2,790,000 | 3,413,133 |
Principal Amount | Value | |
Corporate Bonds | ||
Pharmaceuticals | ||
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, due 10/1/26 | $ 2,146,000 | $ 2,059,302 |
5,472,435 | ||
Pipelines 2.9% | ||
Energy Transfer LP | ||
Series H | ||
6.50% (5 Year Treasury Constant Maturity Rate + 5.694%), due 11/15/26 (b)(d) | 1,395,000 | 1,431,703 |
Enterprise Products Operating LLC | ||
3.95%, due 1/31/60 | 1,630,000 | 1,836,782 |
4.20%, due 1/31/50 | 520,000 | 611,867 |
Flex Intermediate Holdco LLC | ||
3.363%, due 6/30/31 (a) | 1,540,000 | 1,584,097 |
Hess Midstream Operations LP | ||
5.625%, due 2/15/26 (a) | 367,000 | 381,680 |
Kinder Morgan, Inc. | ||
5.625%, due 11/15/23 (a) | 2,449,000 | 2,689,962 |
7.75%, due 1/15/32 | 2,035,000 | 2,984,257 |
MPLX LP | ||
4.00%, due 3/15/28 | 560,000 | 628,701 |
Plains All American Pipeline LP | ||
3.80%, due 9/15/30 | 1,040,000 | 1,128,116 |
Sabine Pass Liquefaction LLC | ||
5.75%, due 5/15/24 | 2,146,000 | 2,403,351 |
Venture Global Calcasieu Pass LLC (a) | ||
3.875%, due 8/15/29 | 555,000 | 566,794 |
4.125%, due 8/15/31 | 1,075,000 | 1,113,109 |
Western Midstream Operating LP | ||
6.50%, due 2/1/50 (e) | 1,800,000 | 2,117,250 |
19,477,669 | ||
Real Estate Investment Trusts 1.1% | ||
CyrusOne LP | ||
3.45%, due 11/15/29 | 1,850,000 | 1,985,031 |
GLP Capital LP | ||
3.35%, due 9/1/24 | 1,535,000 | 1,623,304 |
Host Hotels & Resorts LP | ||
Series D | ||
3.75%, due 10/15/23 | 472,000 | 497,740 |
Iron Mountain, Inc. | ||
4.875%, due 9/15/29 (a) | 1,941,000 | 2,033,197 |
Office Properties Income Trust | ||
2.65%, due 6/15/26 | 1,520,000 | 1,563,418 |
7,702,690 | ||
Retail 2.9% | ||
7-Eleven, Inc. (a) | ||
2.50%, due 2/10/41 | 230,000 | 217,973 |
2.80%, due 2/10/51 | 840,000 | 806,997 |
Principal Amount | Value | |
Corporate Bonds | ||
Retail | ||
AutoNation, Inc. | ||
4.75%, due 6/1/30 | $ 2,300,000 | $ 2,750,434 |
Darden Restaurants, Inc. | ||
3.85%, due 5/1/27 | 3,512,000 | 3,924,835 |
Macy's Retail Holdings LLC | ||
5.875%, due 4/1/29 (a) | 1,170,000 | 1,234,174 |
Macy's, Inc. | ||
8.375%, due 6/15/25 (a) | 1,775,000 | 1,934,750 |
Nordstrom, Inc. | ||
4.00%, due 3/15/27 | 595,000 | 626,185 |
4.25%, due 8/1/31 | 2,150,000 | 2,261,723 |
QVC, Inc. | ||
4.375%, due 9/1/28 | 1,730,000 | 1,776,468 |
Starbucks Corp. | ||
4.45%, due 8/15/49 | 1,970,000 | 2,507,733 |
Victoria's Secret & Co. | ||
4.625%, due 7/15/29 (a) | 1,680,000 | 1,682,285 |
19,723,557 | ||
Semiconductors 0.6% | ||
Broadcom, Inc. (a) | ||
3.469%, due 4/15/34 | 2,040,000 | 2,172,055 |
3.75%, due 2/15/51 | 620,000 | 654,901 |
NXP BV | ||
3.40%, due 5/1/30 (a) | 1,135,000 | 1,255,635 |
4,082,591 | ||
Software 0.1% | ||
Oracle Corp. | ||
3.65%, due 3/25/41 | 450,000 | 488,205 |
Telecommunications 3.0% | ||
Altice France SA | ||
5.125%, due 7/15/29 (a) | 1,655,000 | 1,667,263 |
AT&T, Inc. | ||
3.65%, due 6/1/51 | 1,485,000 | 1,573,832 |
CommScope Technologies LLC | ||
5.00%, due 3/15/27 (a) | 794,000 | 803,369 |
Sprint Corp. | ||
7.875%, due 9/15/23 | 3,620,000 | 4,095,668 |
Sprint Spectrum Co. LLC | ||
4.738%, due 3/20/25 (a) | 2,114,062 | 2,261,138 |
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | 1,790,000 | 1,790,367 |
3.50%, due 4/15/31 (a) | 885,000 | 928,194 |
VEON Holdings BV | ||
4.95%, due 6/16/24 (a) | 3,345,000 | 3,600,257 |
Principal Amount | Value | |
Corporate Bonds | ||
Telecommunications | ||
Verizon Communications, Inc. | ||
3.40%, due 3/22/41 | $ 600,000 | $ 648,312 |
3.55%, due 3/22/51 | 665,000 | 723,532 |
Vodafone Group plc | ||
4.25%, due 9/17/50 | 1,815,000 | 2,145,405 |
20,237,337 | ||
Total Corporate Bonds (Cost $307,397,582) | 329,009,437 | |
Foreign Government Bonds 3.9% | ||
Brazil 1.4% | ||
Brazil Government Bond | ||
3.75%, due 9/12/31 | 1,770,000 | 1,747,875 |
Federative Republic of Brazil | ||
4.625%, due 1/13/28 | 7,099,000 | 7,702,415 |
9,450,290 | ||
Chile 0.8% | ||
Chile Government Bond | ||
2.55%, due 7/27/33 | 1,915,000 | 1,952,859 |
Corp. Nacional del Cobre de Chile (a) | ||
3.00%, due 9/30/29 | 1,890,000 | 1,963,679 |
3.75%, due 1/15/31 | 1,290,000 | 1,407,990 |
5,324,528 | ||
Colombia 0.2% | ||
Colombia Government Bond | ||
3.25%, due 4/22/32 | 1,365,000 | 1,334,574 |
Mexico 1.5% | ||
Comision Federal de Electricidad (a) | ||
3.875%, due 7/26/33 | 525,000 | 522,375 |
4.677%, due 2/9/51 | 1,855,000 | 1,806,306 |
Mexico Government Bond | ||
2.659%, due 5/24/31 | 2,802,000 | 2,755,823 |
3.75%, due 4/19/71 | 1,480,000 | 1,364,930 |
Petroleos Mexicanos | ||
6.75%, due 9/21/47 | 4,835,000 | 4,322,007 |
10,771,441 | ||
Total Foreign Government Bonds (Cost $27,277,542) | 26,880,833 |
Principal Amount | Value | |
Loan Assignments 3.0% | ||
Containers, Packaging & Glass 0.6% | ||
Mauser Packaging Solutions Holding Co. | ||
Initial Term Loan | ||
3.342% (1 Month LIBOR + 3.25%), due 4/3/24 (b) | $ 4,571,662 | $ 4,419,819 |
Diversified/Conglomerate Service 0.8% | ||
Change Healthcare Holdings, Inc. | ||
Closing Date Term Loan | ||
3.50% (1 Month LIBOR + 2.50%, 3 Month LIBOR + 2.50%), due 3/1/24 (b) | 3,724,691 | 3,717,499 |
TruGreen LP (b) | ||
First Lien Second Refinancing Term Loan | ||
4.75% (1 Month LIBOR + 4.00%), due 11/2/27 | 1,039,775 | 1,041,941 |
Second Lien Initial Term Loan | ||
9.25% (3 Month LIBOR + 8.50%), due 11/2/28 | 450,000 | 459,000 |
5,218,440 | ||
Finance 0.5% | ||
Alliant Holdings Intermediate LLC | ||
2018 Initial Term Loan | ||
3.342% (1 Month LIBOR + 3.25%), due 5/9/25 (b) | 3,614,785 | 3,566,965 |
Personal, Food & Miscellaneous Services 0.2% | ||
1011778 B.C. Unlimited Liability Co. | ||
Term Loan B4 | ||
1.842% (1 Month LIBOR + 1.75%), due 11/19/26 (b) | 1,385,433 | 1,359,456 |
Telecommunications 0.9% | ||
Level 3 Financing, Inc. | ||
Tranche 2027 Term Loan B | ||
1.842% (1 Month LIBOR + 1.75%), due 3/1/27 (b) | 2,698,623 | 2,638,387 |
SBA Senior Finance II LLC | ||
Initial Term Loan | ||
1.85% (1 Month LIBOR + 1.75%), due 4/11/25 (b) | 3,446,093 | 3,408,616 |
6,047,003 | ||
Total Loan Assignments (Cost $20,836,227) | 20,611,683 | |
Mortgage-Backed Securities 21.9% | ||
Agency (Collateralized Mortgage Obligations) 3.5% | ||
FHLMC | ||
REMIC, Series 5070, Class IG | ||
1.50%, due 1/25/44 | 6,649,148 | 393,111 |
REMIC, Series 5048, Class IC | ||
2.00%, due 12/25/50 | 7,069,663 | 672,321 |
REMIC, Series 5051, Class KI | ||
2.50%, due 12/25/50 | 4,347,188 | 641,905 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Agency (Collateralized Mortgage Obligations) | ||
FHLMC | ||
REMIC, Series 5036, Class IO | ||
3.50%, due 11/25/50 | $ 4,037,679 | $ 612,906 |
REMIC, Series 4924, Class NS | ||
5.961% (1 Month LIBOR + 6.05%), due 10/25/49 (b) | 3,647,537 | 520,960 |
REMIC, Series 4957, Class SB | ||
5.961% (1 Month LIBOR + 6.05%), due 11/25/49 (b) | 2,446,355 | 454,379 |
FNMA | ||
REMIC, Series 2013-110, Class CO | ||
(zero coupon), due 12/25/39 | 1,739,298 | 1,656,675 |
REMIC, Series 2013-105, Class QO | ||
(zero coupon), due 5/25/40 | 658,679 | 621,393 |
REMIC, Series 2013-105, Class KO | ||
(zero coupon), due 10/25/43 | 465,201 | 445,021 |
REMIC, Series 2013-110, Class DO | ||
(zero coupon), due 11/25/43 | 740,707 | 696,220 |
REMIC, Series 2020-78, Class TI | ||
2.00%, due 11/25/50 | 4,236,502 | 478,083 |
REMIC, Series 2020-91, Class MI | ||
2.00%, due 12/25/50 | 5,125,711 | 547,556 |
REMIC, Series 2021-2, Class AI | ||
2.00%, due 2/25/51 | 10,289,234 | 1,125,612 |
REMIC, Series 2020-91, Class AI | ||
2.50%, due 12/25/50 | 4,222,712 | 646,766 |
REMIC, Series 2021-7, Class EI | ||
2.50%, due 2/25/51 | 3,155,222 | 366,476 |
REMIC, Series 2021-13, Class BI | ||
3.00%, due 2/25/50 | 2,730,000 | 202,216 |
REMIC, Series 2020-10, Class DA | ||
3.50%, due 3/25/60 | 2,459,820 | 2,670,677 |
REMIC, Series 2019-32, Class SB | ||
5.961% (1 Month LIBOR + 6.05%), due 6/25/49 (b) | 3,223,531 | 533,656 |
FREMF Mortgage Trust | ||
REMIC, Series 2017-K63, Class C | ||
3.872%, due 2/25/50 (a)(f) | 1,275,000 | 1,376,380 |
GNMA | ||
REMIC, Series 2021-77, Class BA | ||
1.00%, due 7/20/50 | 1,534,174 | 1,535,020 |
REMIC, Series 2021-78, Class LA | ||
1.00%, due 5/20/51 | 870,238 | 865,693 |
REMIC, Series 2021-87, Class EG | ||
1.00%, due 5/20/51 | 1,036,214 | 1,035,533 |
REMIC, Series 2021-87, Class EK | ||
1.00%, due 5/20/51 | 293,268 | 293,075 |
REMIC, Series 2021-91, Class MF | ||
1.00%, due 5/20/51 | 1,033,711 | 1,034,111 |
REMIC, Series 2021-105, Class DA | ||
1.00%, due 6/20/51 | 2,227,058 | 2,160,304 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Agency (Collateralized Mortgage Obligations) | ||
GNMA | ||
REMIC, Series 2021-15, Class AI | ||
2.00%, due 1/20/51 | $ 3,990,037 | $ 437,306 |
REMIC, Series 2021-57, Class AI | ||
2.00%, due 2/20/51 | 5,175,153 | 606,857 |
REMIC, Series 2021-57, Class IB | ||
2.50%, due 2/20/51 | 3,304,395 | 431,484 |
REMIC, Series 2021-25, Class LI | ||
2.50%, due 2/20/51 | 3,067,782 | 358,201 |
23,419,897 | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) 9.3% | ||
Bayview Commercial Asset Trust (a)(b) | ||
Series 2006-4A, Class A1 | ||
0.434% (1 Month LIBOR + 0.345%), due 12/25/36 | 11,802 | 11,364 |
Series 2005-3A, Class A1 | ||
0.569% (1 Month LIBOR + 0.48%), due 11/25/35 | 872,822 | 828,874 |
BX Commercial Mortgage Trust (a)(f) | ||
Series 2020-VIV2, Class C | ||
3.542%, due 3/9/44 | 1,515,000 | 1,624,272 |
Series 2020-VIV3, Class B | ||
3.544%, due 3/9/44 | 1,380,000 | 1,515,102 |
Series 2020-VIVA, Class D | ||
3.549%, due 3/11/44 | 750,000 | 786,896 |
BX Trust (a) | ||
Series 2021-MFM1, Class C | ||
1.293% (1 Month LIBOR + 1.20%), due 1/15/34 (b) | 1,375,000 | 1,375,000 |
Series 2021-MFM1, Class D | ||
1.593% (1 Month LIBOR + 1.50%), due 1/15/34 (b) | 730,000 | 730,000 |
Series 2021-LBA, Class DV | ||
1.694% (1 Month LIBOR + 1.60%), due 2/15/36 (b) | 1,270,000 | 1,271,521 |
Series 2019-OC11, Class A | ||
3.202%, due 12/9/41 | 1,020,000 | 1,116,701 |
Series 2019-OC11, Class B | ||
3.605%, due 12/9/41 | 190,000 | 211,126 |
Series 2019-OC11, Class C | ||
3.856%, due 12/9/41 | 1,265,000 | 1,396,468 |
Series 2019-OC11, Class E | ||
4.075%, due 12/9/41 (f) | 1,620,000 | 1,728,445 |
Citigroup Commercial Mortgage Trust | ||
Series 2015-GC27, Class AS | ||
3.571%, due 2/10/48 | 840,000 | 891,281 |
COMM Mortgage Trust | ||
Series 2012-CR4, Class AM | ||
3.251%, due 10/15/45 | 1,280,000 | 1,290,398 |
Commercial Mortgage Trust | ||
Series 2013-CR9, Class B | ||
4.27%, due 7/10/45 (a)(f) | 1,020,000 | 1,030,693 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
CSAIL Commercial Mortgage Trust | ||
Series 2015-C3, Class A4 | ||
3.718%, due 8/15/48 | $ 2,636,000 | $ 2,886,312 |
CSMC WEST Trust | ||
Series 2020-WEST, Class A | ||
3.04%, due 2/15/35 (a) | 2,250,000 | 2,377,616 |
DROP Mortgage Trust | ||
Series 2021-FILE, Class A | ||
1.24% (1 Month LIBOR + 1.15%), due 4/15/26 (a)(b) | 1,065,000 | 1,070,892 |
Extended Stay America Trust | ||
Series 2021-ESH, Class D | ||
2.344% (1 Month LIBOR + 2.25%), due 7/15/38 (a)(b) | 1,620,000 | 1,632,682 |
FREMF Mortgage Trust (a)(f) | ||
REMIC, Series 2018-K81, Class C | ||
4.167%, due 9/25/51 | 1,385,000 | 1,522,761 |
REMIC, Series 2019-K88, Class C | ||
4.38%, due 2/25/52 | 1,470,000 | 1,662,957 |
GB Trust (a)(b) | ||
Series 2020-FLIX, Class C | ||
1.693% (1 Month LIBOR + 1.60%), due 8/15/37 | 1,000,000 | 1,000,598 |
Series 2020-FLIX, Class D | ||
2.443% (1 Month LIBOR + 2.35%), due 8/15/37 | 1,390,000 | 1,394,858 |
GS Mortgage Securities Corp. Trust | ||
Series 2019-BOCA, Class A | ||
1.293% (1 Month LIBOR + 1.20%), due 6/15/38 (a)(b) | 4,110,000 | 4,116,336 |
GS Mortgage Securities Trust | ||
Series 2017-GS7, Class A4 | ||
3.43%, due 8/10/50 | 2,720,000 | 3,019,597 |
Hudson Yards Mortgage Trust | ||
Series 2019-30HY, Class A | ||
3.228%, due 7/10/39 (a) | 1,480,000 | 1,631,641 |
JPMBB Commercial Mortgage Securities Trust | ||
Series 2014-C26, Class A3 | ||
3.231%, due 1/15/48 | 1,896,249 | 2,014,433 |
JPMorgan Chase Commercial Mortgage Securities Corp. | ||
Series 2018-AON, Class B | ||
4.379%, due 7/5/31 (a)(f) | 1,330,000 | 1,402,312 |
Manhattan West Mortgage Trust | ||
Series 2020-1MW, Class A | ||
2.13%, due 9/10/39 (a) | 1,260,000 | 1,305,524 |
Morgan Stanley Bank of America Merrill Lynch Trust | ||
Series 2015-C23, Class A3 | ||
3.451%, due 7/15/50 | 1,254,830 | 1,357,406 |
One Bryant Park Trust | ||
Series 2019-OBP, Class A | ||
2.516%, due 9/15/54 (a) | 3,825,000 | 4,020,791 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
SLG Office Trust | ||
Series 2021-OVA, Class D | ||
2.851%, due 7/15/41 (a) | $ 1,100,000 | $ 1,126,991 |
UBS-Barclays Commercial Mortgage Trust | ||
Series 2013-C6, Class B | ||
3.875%, due 4/10/46 (a)(g) | 1,010,000 | 1,021,638 |
Wells Fargo Commercial Mortgage Trust | ||
Series 2019-C53, Class A4 | ||
3.04%, due 10/15/52 | 3,100,000 | 3,388,436 |
Series 2018-1745, Class A | ||
3.749%, due 6/15/36 (a)(f) | 2,900,000 | 3,257,077 |
Series 2018-AUS, Class A | ||
4.058%, due 8/17/36 (a)(f) | 4,310,000 | 4,918,549 |
WFRBS Commercial Mortgage Trust | ||
Series 2012-C7, Class AS | ||
4.09%, due 6/15/45 (g) | 1,480,000 | 1,497,059 |
63,434,607 | ||
Whole Loan (Collateralized Mortgage Obligations) 9.1% | ||
Alternative Loan Trust | ||
Series 2005-31, Class 1A1 | ||
0.369% (1 Month LIBOR + 0.56%), due 8/25/35 (b) | 2,411,430 | 2,288,725 |
Banc of America Alternative Loan Trust | ||
Series 2005-11, Class 2CB1 | ||
6.00%, due 12/25/35 | 488,410 | 485,361 |
Connecticut Avenue Securities Trust | ||
Series 2020-R02, Class 2M2 | ||
2.089% (1 Month LIBOR + 2.00%), due 1/25/40 (a)(b) | 2,577,469 | 2,588,644 |
FHLMC STACR REMIC Trust | ||
Series 2020-DNA6, Class M2 | ||
2.05% (SOFR 30A + 2.00%), due 12/25/50 (a)(b) | 3,280,000 | 3,315,217 |
FHLMC STACR Trust (a)(b) | ||
Series 2018-DNA2, Class M2 | ||
2.239% (1 Month LIBOR + 2.15%), due 12/25/30 | 1,650,000 | 1,667,982 |
Series 2018-HQA2, Class M2 | ||
2.389% (1 Month LIBOR + 2.30%), due 10/25/48 | 665,000 | 670,402 |
Series 2021-DNA5, Class B1 | ||
3.10% (SOFR 30A + 3.05%), due 1/25/34 | 1,155,000 | 1,175,259 |
Series 2019-DNA3, Class B1 | ||
3.339% (1 Month LIBOR + 3.25%), due 7/25/49 | 1,470,000 | 1,484,726 |
Series 2018-DNA2, Class B1 | ||
3.789% (1 Month LIBOR + 3.70%), due 12/25/30 | 2,615,000 | 2,711,707 |
FHLMC Structured Agency Credit Risk Debt Notes (b) | ||
Series 2017-HQA1, Class M2 | ||
3.639% (1 Month LIBOR + 3.55%), due 8/25/29 | 1,863,445 | 1,924,794 |
Series 2016-DNA4, Class M3 | ||
3.889% (1 Month LIBOR + 3.80%), due 3/25/29 | 1,661,784 | 1,720,441 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Whole Loan (Collateralized Mortgage Obligations) | ||
FHLMC Structured Agency Credit Risk Debt Notes (b) | ||
Series 2016-HQA3, Class M3 | ||
3.939% (1 Month LIBOR + 3.85%), due 3/25/29 | $ 4,820,000 | $ 4,992,781 |
FNMA (b) | ||
Series 2017-C05, Class 1M2 | ||
2.289% (1 Month LIBOR + 2.20%), due 1/25/30 | 1,000,986 | 1,021,355 |
Series 2018-C02, Class 2M2 | ||
2.289% (1 Month LIBOR + 2.20%), due 8/25/30 | 1,657,687 | 1,675,863 |
Series 2017-C07, Class 2M2 | ||
2.589% (1 Month LIBOR + 2.50%), due 5/25/30 | 3,301,812 | 3,336,139 |
Series 2018-C04, Class 2M2 | ||
2.639% (1 Month LIBOR + 2.55%), due 12/25/30 | 2,025,111 | 2,050,532 |
Series 2017-C02, Class 2M2 | ||
3.739% (1 Month LIBOR + 3.65%), due 9/25/29 | 1,785,222 | 1,843,457 |
Series 2016-C06, Class 1M2 | ||
4.339% (1 Month LIBOR + 4.25%), due 4/25/29 | 2,569,567 | 2,670,666 |
Series 2016-C07, Class 2M2 | ||
4.439% (1 Month LIBOR + 4.35%), due 5/25/29 | 2,203,487 | 2,309,337 |
Series 2015-C04, Class 1M2 | ||
5.789% (1 Month LIBOR + 5.7%), due 4/25/28 | 784,791 | 830,296 |
Galton Funding Mortgage Trust | ||
Series 2018-2, Class A51 | ||
4.50%, due 10/25/58 (a)(g) | 1,570,000 | 1,610,502 |
GreenPoint Mortgage Funding Trust | ||
Series 2007-AR3, Class A1 | ||
0.309% (1 Month LIBOR + 0.22%), due 6/25/37 (b) | 489,387 | 487,420 |
GS Mortgage-Backed Securities Corp. Trust | ||
Series 2021-PJ7, Class A2 | ||
2.50%, due 1/25/52 (a)(g) | 2,250,000 | 2,291,549 |
Impac Secured Assets Trust | ||
Series 2006-5, Class 2A | ||
0.489% (1 Month LIBOR + 0.40%), due 12/25/36 (b) | 87,509 | 85,673 |
Mello Warehouse Securitization Trust | ||
Series 2021-1, Class B | ||
0.989% (1 Month LIBOR + 0.90%), due 2/25/55 (a)(b) | 1,060,000 | 1,058,630 |
New Residential Mortgage Loan Trust (a) | ||
Series 2019-5A, Class B7 | ||
4.455%, due 8/25/59 (f) | 2,431,609 | 1,777,756 |
Series 2019-4A, Class B6 | ||
4.765%, due 12/25/58 (g) | 2,107,374 | 1,574,084 |
Series 2019-2A, Class B6 | ||
4.959%, due 12/25/57 (g) | 862,453 | 667,041 |
NewRez Warehouse Securitization Trust | ||
Series 2021-1, Class B | ||
0.989% (1 Month LIBOR + 0.90%), due 5/25/55 (a)(b) | 3,085,000 | 3,074,942 |
Sequoia Mortgage Trust (a)(g) | ||
Series 2017-1, Class A4 | ||
3.50%, due 2/25/47 | 53,612 | 53,642 |
Principal Amount | Value | |
Mortgage-Backed Securities | ||
Whole Loan (Collateralized Mortgage Obligations) | ||
Sequoia Mortgage Trust (a)(g) | ||
Series 2018-7, Class B3 | ||
4.215%, due 9/25/48 | $ 1,427,989 | $ 1,475,588 |
STACR Trust (a)(b) | ||
Series 2018-DNA3, Class M2 | ||
2.189% (1 Month LIBOR + 2.10%), due 9/25/48 | 1,425,000 | 1,446,316 |
Series 2018-HRP2, Class M3 | ||
2.489% (1 Month LIBOR + 2.40%), due 2/25/47 | 3,890,000 | 3,956,016 |
Series 2018-HRP1, Class B1 | ||
3.839% (1 Month LIBOR + 3.75%), due 4/25/43 | 1,120,000 | 1,147,992 |
WaMu Mortgage Pass-Through Certificates Trust | ||
Series 2006-AR9, Class 2A | ||
1.806% (11th District Cost of Funds Index + 1.50%), due 8/25/46 (b) | 665,404 | 651,293 |
62,122,128 | ||
Total Mortgage-Backed Securities (Cost $144,790,663) | 148,976,632 | |
Municipal Bond 0.4% | ||
California 0.4% | ||
Regents of the University of California Medical Center, Pooled Revenue Bonds | ||
Series N | ||
3.006%, due 5/15/50 | 2,760,000 | 2,899,725 |
Total Municipal Bond (Cost $2,760,000) | 2,899,725 | |
U.S. Government & Federal Agencies 3.7% | ||
United States Treasury Inflation - Indexed Notes 3.7% | ||
U.S. Treasury Inflation Linked Notes (h) | ||
0.125%, due 1/15/30 | 11,164,021 | 12,613,163 |
0.125%, due 7/15/30 | 6,520,128 | 7,406,457 |
0.875%, due 1/15/29 | 4,093,862 | 4,863,434 |
24,883,054 | ||
Total U.S. Government & Federal Agencies (Cost $23,157,856) | 24,883,054 | |
Total Long-Term Bonds (Cost $598,033,934) | 627,024,145 | |
Shares | ||
Common Stocks 0.0% ‡ | ||
Commercial Services & Supplies 0.0% ‡ | ||
Quad/Graphics, Inc. (i) | 14 | 49 |
Shares | Value | ||
Common Stocks ‡ | |||
Tobacco 0.0% ‡ | |||
Turning Point Brands, Inc. | 6,802 | $ 360,642 | |
Total Common Stocks (Cost $0) | 360,691 | ||
Short-Term Investment 7.2% | |||
Affiliated Investment Company 7.2% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (j) | 48,826,993 | 48,826,993 | |
Total Short-Term Investment (Cost $48,826,993) | 48,826,993 | ||
Total Investments (Cost $646,860,927) | 99.2% | 676,211,829 | |
Other Assets, Less Liabilities | 0.8 | 5,290,162 | |
Net Assets | 100.0% | $ 681,501,991 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(c) | Fixed to floating rate—Rate shown was the rate in effect as of July 31, 2021. |
(d) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(e) | Step coupon—Rate shown was the rate in effect as of July 31, 2021. |
(f) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of July 31, 2021. |
(g) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of July 31, 2021. |
(h) | Treasury Inflation Protected Security—Pays a fixed rate of interest on a principal amount that is continuously adjusted for inflation based on the Consumer Price Index-Urban Consumers. |
(i) | Non-income producing security. |
(j) | Current yield as of July 31, 2021. |
Foreign Currency Forward Contracts
As of July 31, 2021, the Fund held the following foreign currency forward contracts1:
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
EUR | 1,107,000 | USD | 1,306,528 | JPMorgan Chase Bank N.A. | 8/2/21 | $ 6,651 |
EUR | 3,632,000 | USD | 4,297,382 | JPMorgan Chase Bank N.A. | 8/2/21 | 11,077 |
GBP | 497,000 | USD | 687,351 | JPMorgan Chase Bank N.A. | 8/2/21 | 3,479 |
USD | 7,446,586 | EUR | 6,154,000 | JPMorgan Chase Bank N.A. | 8/2/21 | 146,404 |
USD | 691,695 | GBP | 497,000 | JPMorgan Chase Bank N.A. | 8/2/21 | 865 |
Total Unrealized Appreciation | 168,476 |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
EUR | 1,415,000 | USD | 1,727,684 | JPMorgan Chase Bank N.A. | 8/2/21 | $ (49,140) |
USD | 4,318,798 | EUR | 3,643,000 | JPMorgan Chase Bank N.A. | 11/1/21 | (10,543) |
Total Unrealized Depreciation | (59,683) | |||||
Net Unrealized Appreciation | $ 108,793 |
1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
Futures Contracts
As of July 31, 2021, the Fund held the following futures contracts1:
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Long Contracts | |||||
U.S. Treasury 2 Year Notes | 290 | September 2021 | $ 63,997,661 | $ 63,990,313 | $ (7,348) |
U.S. Treasury Long Bonds | 127 | September 2021 | 20,319,638 | 20,919,281 | 599,643 |
Total Long Contracts | 592,295 | ||||
Short Contracts | |||||
U.S. Treasury 5 Year Notes | (483) | September 2021 | (59,591,170) | (60,107,086) | (515,916) |
U.S. Treasury 10 Year Notes | (584) | September 2021 | (77,315,815) | (78,520,625) | (1,204,810) |
U.S. Treasury 10 Year Ultra Bonds | (378) | September 2021 | (55,557,972) | (56,794,500) | (1,236,528) |
U.S. Treasury Ultra Bonds | (102) | September 2021 | (18,926,407) | (20,352,188) | (1,425,781) |
Total Short Contracts | (4,383,035) | ||||
Net Unrealized Depreciation | $ (3,790,740) |
1. | As of July 31, 2021, cash in the amount of $2,422,523 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of July 31, 2021. |
Swap Contracts
As of July 31, 2021, the Fund held the following centrally cleared interest swap agreements1:
Notional Amount | Currency | Expiration Date | Payments made by Fund | Payments Received by Fund | Payment Frequency Paid/ Received | Upfront Premiums Paid/ (Received) | Value | Unrealized Appreciation/ (Depreciation) | ||
$ 40,000,000 | USD | 3/16/23 | Fixed 2.793% | 3 month USD LIBOR | Quarterly | $ — | $ (1,681,255) | $ (1,681,255) | ||
41,000,000 | USD | 3/29/23 | Fixed 2.762% | 3 month USD LIBOR | Quarterly | — | (1,735,296) | (1,735,296) | ||
$ — | $ (3,416,551) | $ (3,416,551) |
1. | As of July 31, 2021, cash in the amount of $664,477 was on deposit with a broker for centrally cleared swap agreements. |
Abbreviation(s): |
EUR—Euro |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
FREMF—Freddie Mac Multifamily |
GBP—British Pound Sterling |
GNMA—Government National Mortgage Association |
LIBOR—London Interbank Offered Rate |
REMIC—Real Estate Mortgage Investment Conduit |
SOFR—Secured Overnight Financing Rate |
USD—United States Dollar |
USISDA—U.S. dollar International Swaps and Derivatives Association |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets and liabilities:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Long-Term Bonds | |||||||
Asset-Backed Securities | $ — | $ 73,762,781 | $ — | $ 73,762,781 | |||
Corporate Bonds | — | 329,009,437 | — | 329,009,437 | |||
Foreign Government Bonds | — | 26,880,833 | — | 26,880,833 | |||
Loan Assignments | — | 20,611,683 | — | 20,611,683 | |||
Mortgage-Backed Securities | — | 148,976,632 | — | 148,976,632 | |||
Municipal Bond | — | 2,899,725 | — | 2,899,725 | |||
U.S. Government & Federal Agencies | — | 24,883,054 | — | 24,883,054 | |||
Total Long-Term Bonds | — | 627,024,145 | — | 627,024,145 | |||
Common Stocks | 360,691 | — | — | 360,691 | |||
Short-Term Investment | |||||||
Affiliated Investment Company | 48,826,993 | — | — | 48,826,993 | |||
Total Investments in Securities | 49,187,684 | 627,024,145 | — | 676,211,829 | |||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | — | 168,476 | — | 168,476 | |||
Futures Contracts (b) | 599,643 | — | — | 599,643 | |||
Total Other Financial Instruments | 599,643 | 168,476 | — | 768,119 | |||
Total Investments in Securities and Other Financial Instruments | $ 49,787,327 | $ 627,192,621 | $ — | $ 676,979,948 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Foreign Currency Forward Contracts (b) | $ — | $ (59,683) | $ — | $ (59,683) | |||
Futures Contracts (b) | (4,390,383) | — | — | (4,390,383) | |||
Interest Rate Swaps (b) | — | (3,416,551) | — | (3,416,551) | |||
Total Other Financial Instruments | $ (4,390,383) | $ (3,476,234) | $ — | $ (7,866,617) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
MainStay WMC Value Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Shares | Value | |
Common Stocks 98.9% | ||
Aerospace & Defense 5.4% | ||
General Dynamics Corp. | 70,882 | $ 13,894,998 |
L3Harris Technologies, Inc. | 66,248 | 15,021,072 |
Lockheed Martin Corp. | 32,237 | 11,981,526 |
Raytheon Technologies Corp. | 206,041 | 17,915,265 |
58,812,861 | ||
Auto Components 1.3% | ||
Gentex Corp. | 422,979 | 14,393,975 |
Banks 10.6% | ||
Bank of America Corp. | 751,575 | 28,830,417 |
JPMorgan Chase & Co. | 266,720 | 40,482,762 |
M&T Bank Corp. | 102,269 | 13,688,706 |
PNC Financial Services Group, Inc. (The) | 96,823 | 17,661,483 |
Truist Financial Corp. | 264,707 | 14,408,002 |
115,071,370 | ||
Beverages 1.4% | ||
Keurig Dr Pepper, Inc. | 429,728 | 15,130,723 |
Building Products 2.4% | ||
Fortune Brands Home & Security, Inc. | 110,907 | 10,810,105 |
Johnson Controls International plc | 218,666 | 15,617,126 |
26,427,231 | ||
Capital Markets 4.4% | ||
Ares Management Corp. | 172,876 | 12,379,650 |
LPL Financial Holdings, Inc. | 103,500 | 14,597,640 |
Morgan Stanley | 218,013 | 20,924,888 |
47,902,178 | ||
Chemicals 3.5% | ||
Axalta Coating Systems Ltd. (a) | 379,026 | 11,408,683 |
Celanese Corp. | 100,930 | 15,721,866 |
FMC Corp. | 104,696 | 11,197,237 |
38,327,786 | ||
Communications Equipment 4.3% | ||
Cisco Systems, Inc. | 545,584 | 30,208,986 |
F5 Networks, Inc. (a) | 79,292 | 16,374,591 |
46,583,577 | ||
Containers & Packaging 1.4% | ||
Sealed Air Corp. | 257,994 | 14,641,160 |
Electric Utilities 2.4% | ||
Entergy Corp. | 111,893 | 11,516,027 |
Shares | Value | |
Common Stocks | ||
Electric Utilities | ||
Exelon Corp. | 317,047 | $ 14,837,800 |
26,353,827 | ||
Electrical Equipment 1.3% | ||
Hubbell, Inc. | 68,522 | 13,735,920 |
Electronic Equipment, Instruments & Components 1.5% | ||
Corning, Inc. | 379,034 | 15,866,363 |
Equity Real Estate Investment Trusts 2.7% | ||
Gaming and Leisure Properties, Inc. | 350,565 | 16,595,747 |
Host Hotels & Resorts, Inc. (a) | 765,941 | 12,201,440 |
28,797,187 | ||
Food Products 1.4% | ||
Mondelez International, Inc., Class A | 242,674 | 15,351,557 |
Health Care Equipment & Supplies 4.9% | ||
Becton Dickinson and Co. | 62,996 | 16,111,227 |
Boston Scientific Corp. (a) | 335,285 | 15,288,996 |
Medtronic plc | 161,362 | 21,188,444 |
52,588,667 | ||
Health Care Providers & Services 6.5% | ||
Anthem, Inc. | 60,231 | 23,129,306 |
Centene Corp. (a) | 193,340 | 13,265,058 |
UnitedHealth Group, Inc. | 82,377 | 33,957,447 |
70,351,811 | ||
Hotels, Restaurants & Leisure 0.9% | ||
Booking Holdings, Inc. (a) | 4,337 | 9,447,114 |
Household Durables 1.3% | ||
Lennar Corp., Class A | 135,700 | 14,268,855 |
Insurance 6.3% | ||
Assurant, Inc. | 96,218 | 15,184,162 |
Chubb Ltd. | 113,982 | 19,233,323 |
MetLife, Inc. | 349,680 | 20,176,536 |
Progressive Corp. (The) | 140,001 | 13,322,495 |
67,916,516 | ||
Interactive Media & Services 2.1% | ||
Alphabet, Inc., Class C (a) | 8,276 | 22,381,780 |
IT Services 2.6% | ||
Amdocs Ltd. | 170,816 | 13,171,622 |
Shares | Value | |
Common Stocks | ||
IT Services | ||
Global Payments, Inc. | 79,452 | $ 15,366,811 |
28,538,433 | ||
Machinery 1.3% | ||
Middleby Corp. (The) (a) | 73,642 | 14,101,707 |
Media 2.7% | ||
Comcast Corp., Class A | 500,328 | 29,434,296 |
Metals & Mining 1.2% | ||
Rio Tinto plc, Sponsored ADR (b) | 147,933 | 12,768,097 |
Multi-Utilities 2.6% | ||
Dominion Energy, Inc. | 191,155 | 14,311,775 |
Sempra Energy | 104,667 | 13,674,743 |
27,986,518 | ||
Oil, Gas & Consumable Fuels 2.3% | ||
Phillips 66 | 163,748 | 12,024,016 |
Pioneer Natural Resources Co. | 88,824 | 12,912,345 |
24,936,361 | ||
Pharmaceuticals 9.2% | ||
AstraZeneca plc, Sponsored ADR (b) | 245,869 | 14,073,541 |
Eli Lilly and Co. | 90,204 | 21,964,674 |
Merck & Co., Inc. | 270,653 | 20,805,096 |
Pfizer, Inc. | 699,664 | 29,952,616 |
Roche Holding AG | 33,458 | 12,940,344 |
99,736,271 | ||
Real Estate Management & Development 1.3% | ||
CBRE Group, Inc., Class A (a) | 149,158 | 14,387,781 |
Road & Rail 1.4% | ||
Knight-Swift Transportation Holdings, Inc. | 301,864 | 14,999,622 |
Semiconductors & Semiconductor Equipment 5.0% | ||
Analog Devices, Inc. | 76,797 | 12,857,354 |
KLA Corp. | 30,857 | 10,743,173 |
Micron Technology, Inc. (a) | 196,041 | 15,208,861 |
Qorvo, Inc. (a) | 82,252 | 15,594,156 |
54,403,544 | ||
Software 1.0% | ||
VMware, Inc., Class A (a)(b) | 67,629 | 10,397,283 |
Shares | Value | ||
Common Stocks | |||
Specialty Retail 2.3% | |||
Home Depot, Inc. (The) | 34,072 | $ 11,182,090 | |
TJX Cos., Inc. (The) | 191,844 | 13,200,785 | |
24,382,875 | |||
Total Common Stocks (Cost $950,585,543) | 1,070,423,246 | ||
Short-Term Investments 2.3% | |||
Affiliated Investment Company 0.3% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (c) | 3,313,641 | 3,313,641 | |
Unaffiliated Investment Companies 2.0% | |||
BlackRock Liquidity FedFund, 0.025% (c)(d) | 20,000,000 | 20,000,000 | |
Wells Fargo Government Money Market Fund, 0.025% (c)(d) | 846,302 | 846,302 | |
Total Unaffiliated Investment Companies (Cost $20,846,302) | 20,846,302 | ||
Total Short-Term Investments (Cost $24,159,943) | 24,159,943 | ||
Total Investments (Cost $974,745,486) | 101.2% | 1,094,583,189 | |
Other Assets, Less Liabilities | (1.2) | (12,515,189) | |
Net Assets | 100.0% | $ 1,082,068,000 |
† | Percentages indicated are based on Fund net assets. |
(a) | Non-income producing security. |
(b) | All or a portion of this security was held on loan. As of July 31, 2021, the aggregate market value of securities on loan was $20,679,915; the total market value of collateral held by the Fund was $21,464,384. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $618,081. The Fund received cash collateral with a value of $20,846,303. |
(c) | Current yield as of July 31, 2021. |
(d) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
ADR—American Depositary Receipt |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Common Stocks | $ 1,070,423,246 | $ — | $ — | $ 1,070,423,246 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 3,313,641 | — | — | 3,313,641 | |||
Unaffiliated Investment Companies | 20,846,302 | — | — | 20,846,302 | |||
Total Short-Term Investments | 24,159,943 | — | — | 24,159,943 | |||
Total Investments in Securities | $ 1,094,583,189 | $ — | $ — | $ 1,094,583,189 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay Winslow Large Cap Growth Fund
Portfolio of Investments July 31, 2021† (Unaudited)
Shares | Value | |
Common Stocks 99.7% | ||
Automobiles 1.5% | ||
Churchill Capital Group IV (a)(b)(c) | 11,489,400 | $ 249,090,192 |
Biotechnology 1.1% | ||
AbbVie, Inc. | 1,531,100 | 178,066,930 |
Capital Markets 1.7% | ||
Moody's Corp. | 443,250 | 166,662,000 |
MSCI, Inc. | 200,600 | 119,549,576 |
286,211,576 | ||
Chemicals 1.6% | ||
Linde plc | 891,330 | 273,985,929 |
Containers & Packaging 1.2% | ||
Ball Corp. | 2,370,650 | 191,738,172 |
Electronic Equipment, Instruments & Components 1.3% | ||
TE Connectivity Ltd. | 1,430,500 | 210,955,835 |
Entertainment 1.5% | ||
Netflix, Inc. (b) | 481,600 | 249,261,712 |
Health Care Equipment & Supplies 2.8% | ||
Align Technology, Inc. (b) | 400,900 | 278,946,220 |
Edwards Lifesciences Corp. (b) | 1,612,100 | 180,990,467 |
459,936,687 | ||
Health Care Providers & Services 1.3% | ||
UnitedHealth Group, Inc. | 514,600 | 212,128,412 |
Health Care Technology 1.4% | ||
Doximity, Inc., Class A (b) | 505,900 | 31,315,210 |
Veeva Systems, Inc., Class A (b) | 591,650 | 196,847,872 |
228,163,082 | ||
Hotels, Restaurants & Leisure 5.4% | ||
Airbnb, Inc., Class A (b) | 1,212,100 | 174,554,521 |
Chipotle Mexican Grill, Inc. (b) | 147,800 | 275,416,432 |
Hilton Worldwide Holdings, Inc. (b) | 1,613,600 | 212,107,720 |
Starbucks Corp. | 1,940,600 | 235,647,058 |
897,725,731 | ||
Interactive Media & Services 13.4% | ||
Alphabet, Inc. (b) | ||
Class A | 221,685 | 597,336,883 |
Class C | 224,021 | 605,846,873 |
Shares | Value | |
Common Stocks | ||
Interactive Media & Services | ||
Facebook, Inc., Class A (b) | 2,292,940 | $ 816,974,522 |
Snap, Inc., Class A (b) | 2,729,600 | 203,136,832 |
2,223,295,110 | ||
Internet & Direct Marketing Retail 6.7% | ||
Amazon.com, Inc. (b) | 336,070 | 1,118,303,171 |
IT Services 12.3% | ||
Mastercard, Inc., Class A | 1,329,800 | 513,223,012 |
Payoneer, Inc. (a)(b)(c) | 1,352,000 | 12,533,040 |
PayPal Holdings, Inc. (b) | 1,447,680 | 398,879,270 |
Square, Inc., Class A (b) | 934,000 | 230,940,840 |
Visa, Inc., Class A | 2,889,300 | 711,894,627 |
Wix.com Ltd. (b) | 586,700 | 175,212,088 |
2,042,682,877 | ||
Life Sciences Tools & Services 3.2% | ||
Agilent Technologies, Inc. | 1,584,000 | 242,716,320 |
Bio-Techne Corp. | 192,400 | 92,782,976 |
IQVIA Holdings, Inc. (b) | 758,700 | 187,929,990 |
523,429,286 | ||
Machinery 1.1% | ||
Parker-Hannifin Corp. | 567,100 | 176,952,213 |
Personal Products 1.1% | ||
Estee Lauder Cos., Inc. (The), Class A | 532,700 | 177,831,241 |
Pharmaceuticals 1.6% | ||
Zoetis, Inc. | 1,298,840 | 263,274,868 |
Professional Services 1.7% | ||
CoStar Group, Inc. (b) | 3,110,700 | 276,385,695 |
Real Estate Management & Development 0.0% ‡ | ||
Compass, Inc., Class A (b)(d) | 471,400 | 6,439,324 |
Semiconductors & Semiconductor Equipment 5.5% | ||
Advanced Micro Devices, Inc. (b) | 952,600 | 101,156,594 |
Analog Devices, Inc. | 979,500 | 163,987,890 |
ASML Holding NV (Registered), NYRS | 384,370 | 294,711,854 |
NVIDIA Corp. | 1,807,700 | 352,483,423 |
912,339,761 | ||
Software 21.8% | ||
Adobe, Inc. (b) | 947,310 | 588,876,315 |
Atlassian Corp. plc, Class A (b) | 704,750 | 229,128,320 |
Shares | Value | ||
Common Stocks | |||
Software | |||
Intuit, Inc. | 529,310 | $ 280,518,421 | |
Microsoft Corp. | 5,176,330 | 1,474,788,180 | |
PTC, Inc. (b) | 975,700 | 132,158,565 | |
salesforce.com, Inc. (b) | 1,386,990 | 335,554,491 | |
ServiceNow, Inc. (b) | 544,300 | 319,988,527 | |
Workday, Inc., Class A (b) | 1,089,170 | 255,301,448 | |
3,616,314,267 | |||
Specialty Retail 1.6% | |||
Lowe's Cos., Inc. | 1,354,200 | 260,940,798 | |
Technology Hardware, Storage & Peripherals 3.8% | |||
Apple, Inc. | 4,318,700 | 629,925,582 | |
Textiles, Apparel & Luxury Goods 5.1% | |||
Lululemon Athletica, Inc. (b) | 653,000 | 261,311,010 | |
NIKE, Inc., Class B | 3,461,140 | 579,775,561 | |
841,086,571 | |||
Total Common Stocks (Cost $7,315,564,689) | 16,506,465,022 | ||
Short-Term Investments 0.4% | |||
Affiliated Investment Company 0.4% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (e) | 67,509,283 | 67,509,283 | |
Unaffiliated Investment Company 0.0% ‡ | |||
Wells Fargo Government Money Market Fund, 0.025% (e)(f) | 3,583,704 | 3,583,704 | |
Total Short-Term Investments (Cost $71,092,987) | 71,092,987 | ||
Total Investments (Cost $7,386,657,676) | 100.1% | 16,577,558,009 | |
Other Assets, Less Liabilities | (0.1) | (21,649,804) | |
Net Assets | 100.0% | $ 16,555,908,205 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Illiquid security—As of July 31, 2021, the total market value deemed illiquid under procedures approved by the Board of Trustees was $261,623,232, which represented 1.6% of the Fund’s net assets. |
(b) | Non-income producing security. |
(c) | Restricted security. |
(d) | All or a portion of this security was held on loan. As of July 31, 2021, the aggregate market value of securities on loan was $5,777,716; the total market value of collateral held by the Fund was $5,731,510. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $2,147,806. The Fund received cash collateral with a value of $3,583,704. |
(e) | Current yield as of July 31, 2021. |
(f) | Represents a security purchased with cash collateral received for securities on loan. |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
Asset Valuation Inputs | |||||||
Investments in Securities (a) | |||||||
Common Stocks | $ 16,244,841,790 | $ 261,623,232 | $ — | $ 16,506,465,022 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 67,509,283 | — | — | 67,509,283 | |||
Unaffiliated Investment Company | 3,583,704 | — | — | 3,583,704 | |||
Total Short-Term Investments | 71,092,987 | — | — | 71,092,987 | |||
Total Investments in Securities | $ 16,315,934,777 | $ 261,623,232 | $ — | $ 16,577,558,009 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
MainStay Funds
NOTES TO PORTFOLIOS OF INVESTMENTS July 31, 2021 (Unaudited)
SECURITIES VALUATION.
Investments are usually valued as of the close of regular trading on the New York Stock Exchange (the "Exchange") (usually 4:00 p.m. Eastern time) on each day the Funds are open for business ("valuation date").
The Board of Trustees of the MainStay Funds (the "Board") adopted procedures establishing methodologies for the valuation of each Fund's securities and other assets and delegated the responsibility for valuation determinations under those procedures to the Valuation Committee of the Funds (the “Valuation Committee”). The procedures state that, subject to the oversight of the Board and unless otherwise noted, the responsibility for the day-to-day valuation of portfolio assets (including fair value measurements for each Fund's assets and liabilities) rests with New York Life Investment Management LLC (“New York Life Investments” or the "Manager"), aided to whatever extent necessary by the Subadvisor(s) to each Fund. To assess the appropriateness of security valuations, the Manager, the Subadvisor or the Fund's third-party service provider, who is subject to oversight by the Manager, regularly compares prior day prices, prices on comparable securities and the sale prices to the prior and current day prices and challenges prices with changes exceeding certain tolerance levels with third-party pricing services or broker sources.
The Board authorized the Valuation Committee to appoint a Valuation Subcommittee (the “Subcommittee”) to establish the prices of securities for which market quotations are not readily available or the prices of which are not otherwise readily determinable under the procedures. The Subcommittee meets (in person, via electronic mail or via teleconference) on an as-needed basis. The Valuation Committee meets to ensure that actions taken by the Subcommittee were appropriate.
For those securities valued through either a standardized fair valuation methodology or a fair valuation measurement, the Subcommittee deals with such valuation and the Valuation Committee reviews and affirms, if appropriate, the reasonableness of the valuation based on such methodologies and measurements on a regular basis after considering information that is reasonably available and deemed relevant by the Valuation Committee. Any action taken by the Subcommittee with respect to the valuation of a portfolio security or other asset is submitted for review and ratification (if appropriate) to the Valuation Committee and the Board at the next regularly scheduled meeting.
"Fair value" is defined as the price a Fund would reasonably expect to receive upon selling an asset or liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the asset or liability. Fair value measurements are determined within a framework that establishes a three-tier hierarchy that maximizes the use of observable market data and minimizes the use of unobservable inputs to establish a classification of fair value measurements for disclosure purposes. "Inputs" refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of each Fund. Unobservable inputs reflect each Fund’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. The three-tier hierarchy of inputs is summarized below.
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including each Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
The level of an asset or liability within the fair value hierarchy is based on the lowest level of an input, both individually and in the aggregate, that is significant to the fair value measurement. The aggregate value by input level of each Fund’s assets and liabilities as of July 31, 2021, is included at the end of each Fund's respective Portfolio of Investments.
The Funds may use third-party vendor evaluations, whose prices may be derived from one or more of the following standard inputs, among others:
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
An asset or liability for which market values cannot be measured using the methodologies described above is valued by methods deemed reasonable in good faith by the Valuation Committee, following the procedures established by the Board, to represent fair value. Under these procedures, the Funds generally use a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information. The Funds may also use an income-based valuation approach in which the anticipated future cash flows of the asset or liability are discounted to calculate fair value. Discounts may also be applied due to the nature and/or duration of any restrictions on the disposition of the asset or liability. Fair value represents a good faith approximation of the value of a security. Fair value determinations involve the consideration of a number of subjective factors, an analysis of applicable facts and circumstances and the exercise of judgment. As a result, it is possible that the fair value for a security determined in good faith in accordance with the Funds' valuation procedures may differ from valuations for the same security determined by other funds using their own valuation procedures. Although the Funds' valuation procedures are designed to value a security at the price a Fund may reasonably expect to receive upon the security's sale in an orderly transaction, there can be no assurance that any fair value determination thereunder would, in fact, approximate the amount that a Fund would actually realize upon the sale of the security or the price at which the security would trade if a reliable market price were readily available. During the period ended July 31, 2021, there were no material changes to the fair value methodologies.
Securities which may be valued in this manner include, but are not limited to: (i) a security for which trading has been halted or suspended; (ii) a debt security that has recently gone into default and for which there is not a current market quotation; (iii) a security of an issuer that has entered into a restructuring; (iv) a security that has been delisted from a national exchange; (v) a security for which the market price is not readily available from a third-party pricing source or, if so provided, does not, in the opinion of the Manager or the Subadvisor(s), reflect the security's market value; (vi) a security subject to trading collars for which no or limited trading takes place; and (vii) a security whose principal market has been temporarily closed at a time when, under normal conditions, it would be open. Securities valued in this manner are generally categorized as Level 3 in the hierarchy. Securities that were fair valued in such a manner as of July 31, 2021, are shown in the Portfolio of Investments.
Certain securities held by certain Funds may principally trade in foreign markets. Events may occur between the time the foreign markets close and the time at which each of the Fund's net asset values ("NAVs") are calculated. These events may include, but are not limited to, situations relating to a single issuer in a market sector, significant fluctuations in U.S. or foreign markets, natural disasters, armed conflicts, governmental actions or other developments not tied directly to the securities markets. Should the Manager or the Subadvisor(s) conclude that such events may have affected the accuracy of the last price of such securities reported on the local foreign market, the Subcommittee may, pursuant to procedures adopted by the Board, adjust the value of the local price to reflect the estimated impact on the price of such securities as a result of such events. In this instance, securities are generally categorized as Level 3 in the hierarchy. Additionally, certain foreign equity securities are also fair valued whenever the movement of a particular index exceeds certain thresholds. In such cases, the securities are fair valued by applying factors provided by a third-party vendor in accordance with valuation procedures adopted by the Board and are generally categorized as Level 2 in the hierarchy. No foreign equity securities held by the Funds as of July 31, 2021 were fair valued in such a manner.
Equity securities, rights, warrants and shares of Exchange-Traded Funds ("ETFs") are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.
Investments in mutual funds, including money market funds, are valued at their respective NAVs at the close of business each day on the valuation date. These securities are generally categorized as Level 1 in the hierarchy.
Futures contracts are valued at the last posted settlement price on the market where such futures are primarily traded. These securities are generally categorized as Level 1 in the hierarchy.
Swaps are marked to market daily based upon quotations from pricing agents, brokers or market makers. These securities are generally categorized as Level 2 in the hierarchy.
Debt securities (other than convertible and municipal bonds) are valued at the evaluated bid prices (evaluated mean prices in the case of convertible and municipal bonds) supplied by a pricing agent or broker selected by the Manager, in consultation with the Subadvisor(s). The evaluations are market-based measurements processed through a pricing application and represents the pricing agent’s good faith determination as to what a holder may receive in an orderly transaction under market conditions. The rules-based logic utilizes valuation techniques that reflect participants’ assumptions and vary by asset class and per methodology, maximizing the use of relevant observable data including quoted prices for similar assets, benchmark yield curves and market corroborated inputs. The evaluated bid or mean prices are deemed by the Manager, in consultation with the Subadvisor(s), to be representative of market values at the regular close of trading of the Exchange on each valuation date. Debt securities purchased on a delayed delivery basis are marked to market daily until settlement at the forward settlement date. Debt securities, including corporate bonds, U.S. government and federal agency bonds, municipal bonds, foreign bonds, convertible bonds, asset-backed securities and mortgage-backed securities are generally categorized as Level 2 in the hierarchy.
Foreign currency forward contracts are valued at their fair market values measured on the basis of the mean between the last current bid and ask prices based on dealer or exchange quotations and are generally categorized as Level 2 in the hierarchy.
Loan assignments, participations and commitments are valued at the average of bid quotations obtained from the engaged independent pricing service and are generally categorized as Level 2 in the hierarchy. Certain loan assignments, participations and commitments may be valued by utilizing significant unobservable inputs obtained from the pricing service and are generally categorized as Level 3 in the hierarchy. No securities held by the Funds as of July 31, 2021 were fair valued in such a manner.
Temporary cash investments acquired in excess of 60 days to maturity at the time of purchase are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities and ratings), both as furnished by independent pricing services. Temporary cash investments that mature in 60 days or less at the time of purchase ("Short-Term Investments") are valued using the amortized cost method of valuation, unless the use of such method would be inappropriate. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between such cost and the value on maturity date. Amortized cost approximates the current fair value of a security. Securities valued using the amortized cost method are not valued using quoted prices in an active market and are generally categorized as Level 2 in the hierarchy.
The information above is not intended to reflect an exhaustive list of the methodologies that may be used to value portfolio investments. The valuation procedures permit the use of a variety of valuation methodologies in connection with valuing portfolio investments. The methodology used for a specific type of investment may vary based on the market data available or other considerations. The methodologies summarized above may not represent the specific means by which portfolio investments are valued on any particular business day.
The valuation techniques and significant amounts of unobservable inputs used in the fair valuation of each Fund's Level 3 securities are outlined in the table below. A significant increase or decrease in any of those inputs in isolation would result in a significantly higher or lower fair value measurement.
MainStay MacKay High Yield Corporate Bond Fund
Asset Class | Fair Value at 7/31/21* | Valuation Technique | Unobservable Inputs | Inputs/Range |
Corporate Bonds | 13,455,400 | Income Approach | Spread Adjustment | 0.72% |
Loan Assignments | 16,897,247 | Market Approach | Implied natural gas price | $2.70 |
Discount Rate | 10.00% | |||
Common Stocks | 389 | Market Approach | Ownership % of equity interest | 16.56%-39.70% |
33,029,900 | Income Approach | Rate of Return | 14.00% | |
Market Approach | EBITDA Multiple | 6.50x-9.00x | ||
7,584,510 | Market Approach | EBITDA Multiple | 5.75x | |
0 | Market Approach | Implied natural gas price | $2.70 | |
Discount Rate | 10.00% | |||
Preferred Stock | 29,992,690 | Income Approach | Spread Adjustment | 4.21% |
$100,960,136 | ||||
* The table above does not include Level 3 investments that were valued by a broker. As of July 31, 2021, the value of these investments were $20,000,000. The inputs for these investments were not readily available or cannot be reasonably estimated. |
A portfolio investment may be classified as an illiquid investment under a Fund's written liquidity risk management program and related procedures (“Liquidity Program”). Illiquidity of an investment might prevent the sale of such investment at a time when the Manager or the Subadvisor(s) might wish to sell, and these investments could have the effect of decreasing the overall level of a Fund's liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid investments, requiring the Fund to rely on judgments that may be somewhat subjective in measuring value, which could vary materially from the amount that a Fund could realize upon disposition. Difficulty in selling illiquid investments may result in a loss or may be costly to the Fund. An illiquid investment is any investment that the Manager or Subadvisor(s) reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The liquidity classification of each investment will be made using information obtained after reasonable inquiry and taking into account, among other things, relevant market, trading and investment-specific considerations in accordance with the Liquidity Program. Illiquid investments are often valued in accordance with methods deemed by the Board in good faith to be reasonable and appropriate to accurately reflect their fair value. The liquidity of each Fund's investments was determined as of July 31, 2021, and can change at any time. Illiquid investments as of July 31, 2021, are shown in the Portfolio of Investments.
(A) Investments in Affiliates (in 000’s). During the period ended July 31, 2021, purchases and sales transactions, income earned from investments and shares held of investment companies managed by New York Life Investments or its affiliates were as follows:
MainStay Candriam Emerging Markets Debt Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 5,821 | $ 5,161 | $ (10,982) | $ — | $ — | $ — | $ —(a) | $ — | — |
(a) | Less than $500. |
MainStay Income Builder Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 48,170 | $ 543,357 | $ (510,959) | $ — | $ — | $ 80,568 | $ 5 | $ — | 80,568 |
MainStay WMC Enduring Capital Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 71 | $ 71,745 | $ (69,847) | $ — | $ — | $ 1,969 | $ —(a) | $ — | 1,969 |
(a) | Less than $500. |
MainStay MacKay Convertible Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 60,631 | $ 457,022 | $ (389,584) | $ — | $ — | $ 128,069 | $ 5 | $ — | 128,069 |
MainStay MacKay International Equity Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 565 | $ 20,698 | $ (19,956) | $ — | $ — | $ 1,307 | $ —(a) | $ — | 1,307 |
(a) | Less than $500. |
MainStay MacKay U.S. Infrastructure Bond Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ — | $ 243,105 | $ (203,130) | $ — | $ — | $ 39,975 | $ 2 | $ — | 39,975 |
MainStay MacKay Strategic Bond Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 30,619 | $ 216,406 | $ (198,198) | $ — | $ — | $ 48,827 | $ 2 | $ — | 48,827 |
MainStay WMC Value Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 5,057 | $ 167,948 | $ (169,691) | $ — | $ — | $ 3,314 | $ 1 | $ — | 3,314 |
MainStay Winslow Large Cap Growth Fund | |||||||||
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 41,324 | $ 2,052,548 | $ (2,026,363) | $ — | $ — | $ 67,509 | $ 8 | $ — | 67,509 |