Global Diversified Income Fund As of October 31, 2017

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS CMBS FREMF 2016-KBAM Mortgage Trust 68,415,100 $ 69,841,008 0.57% JP Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19 35,000,000 $ 27,685,032 0.22% UBS-Barclays Commercial Mortgage Trust 2012-C3 25,827,000 $ 24,927,053 0.20% ML-CFC Commercial Mortgage Trust 2007-9 28,047,887 $ 24,019,108 0.19% JPMBB Commercial Mortgage Securities Trust 2013-C15 23,750,000 $ 23,349,269 0.19% UBS-Barclays Commercial Mortgage Trust 2012-C4 21,000,000 $ 20,595,049 0.17% COMM 2014-UBS3 Mortgage Trust 21,861,000 $ 18,231,160 0.15% Citigroup Commercial Mortgage Trust 2007-C6 20,651,798 $ 18,024,889 0.15% UBS-Barclays Commercial Mortgage Trust 2012-C3 20,994,000 $ 17,393,164 0.14% JPMBB Commercial Mortgage Securities Trust 2014-C24 20,500,000 $ 17,338,455 0.14% Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8 18,500,000 $ 17,040,868 0.14% JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16 16,202,517 $ 15,439,621 0.13% Credit Suisse Commercial Mortgage Trust Series 2007-C1 30,000,000 $ 15,289,152 0.12% UBS-Barclays Commercial Mortgage Trust 2012-C4 17,981,000 $ 14,652,582 0.12% Comm 2013-CCRE13 Mortgage Trust 18,660,000 $ 14,214,479 0.12% LB-UBS Commercial Mortgage Trust 2007-C6 13,250,000 $ 13,237,008 0.11% JPMBB Commercial Mortgage Securities Trust 2013-C12 13,826,000 $ 12,641,366 0.10% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16 17,104,000 $ 12,637,378 0.10% DBJPM 17-C6 Mortgage Trust 15,000,000 $ 12,301,713 0.10% Citigroup Commercial Mortgage Trust 2013-GC15 16,492,000 $ 12,197,577 0.10% Commercial Mortgage Pass Through Certificates 18,498,000 $ 12,112,729 0.10% LB Commercial Mortgage Trust 2007-C3 12,738,000 $ 12,050,455 0.10% COMM 2013-CCRE6 Mortgage Trust 12,700,000 $ 11,605,812 0.09% Wells Fargo Commercial Mortgage Trust 2014-LC18 13,500,000 $ 11,337,756 0.09% Comm 2014-UBS2 Mortgage Trust 13,190,000 $ 11,336,821 0.09% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16 12,500,000 $ 11,335,819 0.09% BCAP LLC 2013-RR4 Trust 11,334,000 $ 11,303,172 0.09% COMM 2014-CCRE17 Mortgage Trust 12,469,000 $ 11,109,241 0.09% JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC17 12,897,562 $ 10,704,977 0.09% LB-UBS Commercial Mortgage Trust 2006-C7 13,408,079 $ 10,109,877 0.08% COMM 2012-CCRE1 Mortgage Trust 13,993,000 $ 10,066,336 0.08% Goldman Sachs Financial Square Funds - Government Fund 10,029,079 $ 10,029,079 0.08% Wells Fargo Commercial Mortgage Trust 2017-C40 10,000,000 $ 9,974,642 0.08% GS Mortgage Securities Trust 2013-GCJ14 10,460,000 $ 9,891,086 0.08% Citigroup Commercial Mortgage Trust 2015-GC27 10,000,000 $ 9,542,570 0.08% JPMBB Commercial Mortgage Securities Trust 2014-C23 287,703,093 $ 9,052,750 0.07% Wachovia Bank Commercial Mortgage Trust Series 2007-C34 8,718,000 $ 8,909,355 0.07% Commercial Mortgage Trust 2007-GG9 9,933,596 $ 8,898,339 0.07% LB-UBS Commercial Mortgage Trust 2007-C6 8,841,000 $ 8,832,759 0.07% COMM 2012-CCRE1 Mortgage Trust 8,889,000 $ 8,679,036 0.07%

Not FDIC or NCUA Insured PQ 8917 May Lose Value, Not a Deposit, No Bank or Credit Union Guarantee 10-17 Not Insured by any Federal Government Agency Global Diversified Income Fund As of October 31, 2017

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Citigroup Commercial Mortgage Trust 2007-C6 9,875,001 $ 8,643,589 0.07% COMM 2013-CCRE6 Mortgage Trust 10,500,000 $ 8,628,214 0.07% UBS-Barclays Commercial Mortgage Trust 2013-C5 9,150,000 $ 8,286,245 0.07% Wells Fargo Commercial Mortgage Trust 2016-NXS5 7,681,000 $ 8,128,405 0.07% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14 10,331,000 $ 8,072,137 0.07% WFRBS Commercial Mortgage Trust 2013-C11 10,000,000 $ 7,987,665 0.06% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15 8,786,000 $ 7,960,161 0.06% BANK 2017-BNK5 10,000,000 $ 7,913,544 0.06% WFRBS Commercial Mortgage Trust 2014-C22 10,000,000 $ 7,854,528 0.06% Wells Fargo Commercial Mortgage Trust 2015-C28 10,000,000 $ 7,846,109 0.06% WFRBS Commercial Mortgage Trust 2014-C20 10,000,000 $ 7,650,224 0.06% COMM 2014-UBS5 Mortgage Trust 10,000,000 $ 7,633,172 0.06% CFCRE Commercial Mortgage Trust 2016-C6 7,500,000 $ 7,583,316 0.06% GS Mortgage Securities Trust 2012-GCJ9 8,500,000 $ 7,570,500 0.06% WFRBS Commercial Mortgage Trust 2014-C24 11,047,000 $ 7,539,806 0.06% JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16 10,000,000 $ 7,439,184 0.06% Citigroup Commercial Mortgage Trust 2013-GC15 7,700,000 $ 7,418,714 0.06% JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16 8,182,699 $ 7,374,658 0.06% GS Mortgage Securities Trust 2012-GCJ7 7,429,000 $ 7,352,281 0.06% Wells Fargo Commercial Mortgage Trust 2015-NXS2 9,153,000 $ 7,326,810 0.06% DBJPM 17-C6 Mortgage Trust 99,890,529 $ 7,230,506 0.06% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14 6,750,000 $ 7,177,491 0.06% Freddie Mac Multifamily Structured Pass Through Certificates 79,054,170 $ 7,151,675 0.06% JPMBB Commercial Mortgage Securities Trust 2014-C18 7,850,000 $ 6,888,175 0.06% UBS Commercial Mortgage Trust 2012-C1 8,000,000 $ 6,805,720 0.06% JPMBB Commercial Mortgage Securities Trust 2013-C15 9,191,000 $ 6,778,868 0.05% COMM 2012-CCRE5 Mortgage Trust 7,500,000 $ 6,759,070 0.05% JPMCC Commercial Mortgage Securities Trust 2017-JP7 7,000,000 $ 6,725,214 0.05% Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5 6,786,500 $ 6,626,009 0.05% COMM 2017-COR2 Mortgage Trust 6,500,000 $ 6,590,605 0.05% Wachovia Bank Commercial Mortgage Trust Series 2006-C26 8,921,558 $ 6,480,783 0.05% JP Morgan Chase Commercial Mortgage Securities Trust 2012-C8 8,553,000 $ 6,406,622 0.05% GS Mortgage Securities Trust 2013-GCJ14 7,742,050 $ 6,269,977 0.05% Wells Fargo Commercial Mortgage Trust 2017-C38 79,864,764 $ 6,242,653 0.05% Comm 2013-CCRE13 Mortgage Trust 6,421,000 $ 6,141,037 0.05% JPMBB Commercial Mortgage Securities Trust 2014-C19 5,750,000 $ 5,937,007 0.05% COMM 2013-CCRE7 Mortgage Trust 7,500,000 $ 5,928,473 0.05% CGMS Commercial Mortgage Trust 2017-B1 7,435,000 $ 5,748,161 0.05% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C18 187,818,173 $ 5,731,384 0.05% CD 2017-CD5 Mortgage Trust 7,000,000 $ 5,699,609 0.05% CD 2007-CD4 Commercial Mortgage Trust 9,179,274 $ 5,507,564 0.04%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS BANK 2017-BNK5 8,356,000 $ 5,496,930 0.04% COMM 2015-LC23 Mortgage Trust 6,000,000 $ 5,373,952 0.04% Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 5,462,000 $ 5,171,737 0.04% Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10 5,609,000 $ 5,112,251 0.04% GS Mortgage Securities Trust 2010-C2 5,000,000 $ 5,105,193 0.04% ML-CFC Commercial Mortgage Trust 2007-5 6,150,841 $ 5,095,966 0.04% JP Morgan Chase Commercial Mortgage Securities Trust 2012-C6 7,500,000 $ 5,090,717 0.04% JP Morgan Chase Commercial Mortgage Securities Trust 2011-C5 6,000,000 $ 5,083,118 0.04% COMM 2016-COR1 Mortgage Trust 5,000,000 $ 5,047,191 0.04% JPMBB Commercial Mortgage Securities Trust 2014-C26 5,000,000 $ 5,006,256 0.04% Wells Fargo Commercial Mortgage Trust 2014-LC18 84,169,744 $ 4,932,911 0.04% JP Morgan Chase Commercial Mortgage Securities Trust 2013-C10 276,436,391 $ 4,931,155 0.04% JP Morgan Chase Commercial Mortgage Securities Trust 2011-C5 4,844,000 $ 4,891,456 0.04% JPMBB Commercial Mortgage Securities Trust 2015-C28 5,000,000 $ 4,843,140 0.04% COMM 2013-LC6 Mortgage Trust 5,205,000 $ 4,843,036 0.04% Freddie Mac Multifamily Structured Pass Through Certificates 83,687,608 $ 4,803,727 0.04% GS Mortgage Securities Trust 2012-GCJ9 5,000,000 $ 4,793,947 0.04% JP Morgan Chase Commercial Mortgage Securities Trust 2005-LDP4 4,806,257 $ 4,791,337 0.04% Citigroup Commercial Mortgage Trust 2016-C1 37,496,188 $ 4,621,788 0.04% Wells Fargo Commercial Mortgage Trust 2016-C34 36,070,569 $ 4,448,648 0.04% Wells Fargo Commercial Mortgage Trust 2015-NXS1 6,916,000 $ 4,407,659 0.04% Citigroup Commercial Mortgage Trust 2014-GC19 4,150,000 $ 4,392,999 0.04% COMM 2012-CCRE4 Mortgage Trust 5,000,000 $ 4,351,568 0.04% Banc of America Merrill Lynch Commercial Mortgage Inc 5,228,679 $ 4,312,990 0.03% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C18 4,408,334 $ 4,291,974 0.03% UBS-Barclays Commercial Mortgage Trust 2013-C5 5,759,000 $ 4,266,117 0.03% Morgan Stanley Bank of America Merrill Lynch Trust 2016-C29 41,981,703 $ 4,231,764 0.03% Wells Fargo Commercial Mortgage Trust 2016-NXS5 4,254,000 $ 4,163,373 0.03% COMM 2016-COR1 Mortgage Trust 45,683,521 $ 4,157,913 0.03% COMM 2014-CCRE15 Mortgage Trust 5,414,000 $ 4,109,346 0.03% Wells Fargo Commercial Mortgage Trust 2016-C36 4,000,000 $ 4,029,197 0.03% COMM 2017-COR2 Mortgage Trust 43,485,183 $ 3,917,811 0.03% JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 4,000,000 $ 3,864,373 0.03% Wells Fargo Commercial Mortgage Trust 2015-NXS3 5,000,000 $ 3,821,621 0.03% JP Morgan Chase Commercial Mortgage Securities Trust 2011-C3 4,330,000 $ 3,749,352 0.03% Freddie Mac Multifamily Structured Pass Through Certificates 38,877,257 $ 3,684,320 0.03% CFCRE Commercial Mortgage Trust 2016-C6 45,159,666 $ 3,628,949 0.03% JPMBB Commercial Mortgage Securities Trust 2015-C29 4,500,000 $ 3,570,097 0.03% Morgan Stanley Bank of America Merrill Lynch Trust 2015-C20 41,500,000 $ 3,535,709 0.03% GS Mortgage Securities Corp II 4,500,000 $ 3,455,291 0.03% GS Mortgage Securities Trust 2013-GC16 3,544,000 $ 3,454,230 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS COMM 2014-CCRE17 Mortgage Trust 5,311,000 $ 3,398,107 0.03% BANK 2017-BNK5 36,903,000 $ 3,387,492 0.03% JP Morgan Chase Commercial Mortgage Securities Trust 2013-LC11 62,707,793 $ 3,362,611 0.03% COMM 2012-CCRE5 Mortgage Trust 3,475,000 $ 3,347,322 0.03% JPMBB Commercial Mortgage Securities Trust 2015-C28 61,998,150 $ 3,330,069 0.03% Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9 4,150,000 $ 3,238,103 0.03% Citigroup Commercial Mortgage Trust 2014-GC19 3,425,000 $ 3,114,299 0.03% Wells Fargo Commercial Mortgage Trust 2015-NXS1 3,500,000 $ 3,104,487 0.03% Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15 4,000,000 $ 3,097,422 0.03% GS Mortgage Securities Trust 2011-GC5 3,660,000 $ 2,959,835 0.02% COMM 2014-LC17 Mortgage Trust 4,133,167 $ 2,839,126 0.02% Freddie Mac Multifamily Structured Pass Through Certificates 86,714,229 $ 2,755,943 0.02% JPMBB Commercial Mortgage Securities Trust 2015-C30 82,719,847 $ 2,695,393 0.02% COMM 2014-LC17 Mortgage Trust 4,383,000 $ 2,630,184 0.02% Banc of America Merrill Lynch Commercial Mortgage Inc 2,610,325 $ 2,619,222 0.02% GS Mortgage Securities Trust 2017-GS7 29,090,717 $ 2,439,710 0.02% CD 2006-CD2 Mortgage Trust 2,846,050 $ 2,429,502 0.02% JP Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC20 2,355,930 $ 2,376,403 0.02% JPMBB Commercial Mortgage Securities Trust 2014-C21 43,872,947 $ 2,359,847 0.02% COMM 2013-CCRE6 Mortgage Trust 70,489,615 $ 2,292,407 0.02% JPMBB Commercial Mortgage Securities Trust 2014-C18 56,586,043 $ 2,273,305 0.02% GS Mortgage Securities Trust 2014-GC26 2,570,000 $ 2,237,262 0.02% GS Mortgage Securities Trust 2014-GC26 29,811,000 $ 2,159,563 0.02% UBS Commercial Mortgage Trust 2012-C1 143,075,587 $ 2,139,810 0.02% JP Morgan Chase Commercial Mortgage Securities Trust 2013-LC11 49,841,000 $ 2,139,241 0.02% Freddie Mac Multifamily Structured Pass Through Certificates 25,653,793 $ 2,085,900 0.02% BANK 2017-BNK6 2,500,000 $ 2,007,146 0.02% Freddie Mac Multifamily Structured Pass Through Certificates 73,469,279 $ 1,970,402 0.02% GS Mortgage Securities Trust 2013-GCJ14 2,500,000 $ 1,931,394 0.02% CSAIL 2015-C1 Commercial Mortgage Trust 62,192,000 $ 1,894,679 0.02% JPMCC Commercial Mortgage Securities Trust 2017-JP6 23,956,177 $ 1,875,280 0.02% Freddie Mac Multifamily Structured Pass Through Certificates 146,501,939 $ 1,845,280 0.01% GS Mortgage Securities Trust 2012-GC6 226,504,435 $ 1,783,383 0.01% COMM 2014-UBS6 Mortgage Trust 60,589,000 $ 1,778,626 0.01% Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26 2,185,000 $ 1,770,424 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 58,633,569 $ 1,760,778 0.01% GS Mortgage Securities Trust 2013-GC16 2,500,000 $ 1,759,746 0.01% Citigroup Commercial Mortgage Trust 2016-GC37 15,212,773 $ 1,731,798 0.01% COMM 2014-CCRE21 Mortgage Trust 20,879,000 $ 1,705,213 0.01% JPMBB Commercial Mortgage Securities Trust 2015-C28 54,005,000 $ 1,639,613 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 20,000,000 $ 1,542,522 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Citigroup Commercial Mortgage Trust 2012-GC8 1,875,000 $ 1,410,508 0.01% UBS-Barclays Commercial Mortgage Trust 2012-C2 28,168,113 $ 1,405,110 0.01% JPMBB Commercial Mortgage Securities Trust 2015-C31 42,377,000 $ 1,327,400 0.01% GS Mortgage Securities Trust 2010-C1 43,119,161 $ 1,314,923 0.01% DBUBS 2011-LC1 Mortgage Trust 142,383,507 $ 1,302,980 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 68,597,999 $ 1,290,171 0.01% JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16 20,750,000 $ 1,270,361 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 16,936,236 $ 1,200,517 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 89,000,000 $ 1,124,417 0.01% LB Commercial Mortgage Trust 2007-C3 1,096,715 $ 1,097,728 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 48,321,960 $ 1,080,552 0.01% JPMBB Commercial Mortgage Securities Trust 2014-C19 1,200,000 $ 1,071,590 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 52,458,831 $ 1,039,870 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 15,543,650 $ 1,035,847 0.01% JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP9 1,000,000 $ 1,005,440 0.01% Citigroup Commercial Mortgage Trust 2014-GC19 15,243,999 $ 946,911 0.01% Commercial Mortgage Trust 2007-GG9 14,000,000 $ 920,951 0.01% Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5 221,583,509 $ 887,464 0.01% JPMBB Commercial Mortgage Securities Trust 2013-C15 11,500,000 $ 840,879 0.01% COMM 2014-CCRE17 Mortgage Trust 44,717,000 $ 784,985 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 47,224,000 $ 741,625 0.01% Freddie Mac Multifamily Structured Pass Through Certificates 24,357,204 $ 740,264 0.01% Wachovia Bank Commercial Mortgage Trust Series 2006-C29 618,883 $ 622,906 0.01% WFRBS Commercial Mortgage Trust 2011-C5 121,415,950 $ 606,898 0.00% Morgan Stanley Capital I Trust 2011-C3 23,895,697 $ 528,355 0.00% Freddie Mac Multifamily Structured Pass Through Certificates 32,000,000 $ 515,971 0.00% Freddie Mac Multifamily Structured Pass Through Certificates 4,400,000 $ 495,729 0.00% LB-UBS Commercial Mortgage Trust 2005-C3 332,160 $ 335,707 0.00% Freddie Mac Multifamily Structured Pass Through Certificates 13,000,000 $ 320,571 0.00% DBUBS 2011-LC2 Mortgage Trust 11,020,686 $ 314,062 0.00% FREMF 2011-K704 Mortgage Trust 547,103,500 $ 277,710 0.00% JP Morgan Chase Commercial Mortgage Securities Trust 2010-CNTR 7,646,406 $ 274,726 0.00% Freddie Mac Multifamily Structured Pass Through Certificates 1,800,000 $ 226,175 0.00% Wells Fargo Commercial Mortgage Trust 2010-C1 13,678,344 $ 224,393 0.00% Merrill Lynch Mortgage Trust 2007-C1 15,869,845 $ 164,002 0.00% JP Morgan Chase Commercial Mortgage Securities Trust 2005-CIBC12 39,307 $ 39,253 0.00% LB-UBS Commercial Mortgage Trust 2003-C8 717,414 $ 717 0.00% Wachovia Commercial Mortgage Securities Inc Commercial Mortgage Pass 370,012 $ 660 0.00% Through Certificates Series 2003 C5 Credit Suisse Commercial Mortgage Trust Series 2007-C5 40,328,475 $ 403 0.00%

Total CMBS $ 1,208,453,094 9.80%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Emerging Market Debt-Logan Circle BlackRock Liquidity Funds FedFund Portfolio 52,954,251 $ 52,954,251 0.43% Argentine Republic Government International Bond 29,290,000 $ 21,044,865 0.17% Russian Federal Bond - OFZ 1,119,796,000 $ 18,576,014 0.15% Brazil Notas do Tesouro Nacional Serie F 59,053,000 $ 18,210,117 0.15% Malaysia Government Bond 73,439,000 $ 17,430,569 0.14% Brazil Notas do Tesouro Nacional Serie F 55,435,000 $ 17,134,397 0.14% Bonos de la Tesoreria de la Republica en pesos 10,500,000,000 $ 16,584,860 0.13% Peruvian Government International Bond 39,449,000 $ 14,875,265 0.12% Turkey Government Bond 57,339,000 $ 14,850,356 0.12% Republic of South Africa Government Bond 246,431,000 $ 13,912,086 0.11% Ecuador Government International Bond 12,550,000 $ 12,787,760 0.10% Turkey Government Bond 44,613,000 $ 10,760,606 0.09% Indonesia Government International Bond 10,575,000 $ 10,743,608 0.09% Finansbank AS/Turkey 10,865,000 $ 10,717,345 0.09% Mexican Bonos 169,610,000 $ 10,260,336 0.08% Republic of South Africa Government Bond 133,375,000 $ 10,219,230 0.08% Petroleos del Peru SA 9,610,000 $ 10,114,525 0.08% First Quantum Minerals Ltd 9,455,000 $ 10,010,481 0.08% Hungary Government Bond 2,559,320,000 $ 9,840,188 0.08% Eskom Holdings SOC Ltd 9,480,000 $ 9,700,562 0.08% Ukraine Government International Bond 9,620,000 $ 9,484,089 0.08% Brazilian Government International Bond 9,435,000 $ 9,368,955 0.08% Braskem Netherlands Finance BV 9,200,000 $ 9,156,760 0.07% Mexico City Airport Trust 9,170,000 $ 9,082,885 0.07% Digicel Group Ltd 9,577,000 $ 9,026,323 0.07% Egypt Government International Bond 8,650,000 $ 9,019,563 0.07% Provincia de Buenos Aires/Argentina 8,485,000 $ 8,990,706 0.07% Turkiye Is Bankasi 9,015,000 $ 8,985,034 0.07% Acwa Power Management And Investments One Ltd 8,570,000 $ 8,870,636 0.07% Pelabuhan Indonesia II PT 8,470,000 $ 8,793,554 0.07% Republic of South Africa Government International Bond 9,500,000 $ 8,787,500 0.07% Ukreximbank Via Biz Finance PLC 8,030,000 $ 8,756,715 0.07% Turkey Government International Bond 9,120,000 $ 8,613,840 0.07% Russian Federal Bond - OFZ 492,504,000 $ 8,432,278 0.07% Banco Mercantil del Norte SA/Grand Cayman 7,665,000 $ 8,326,106 0.07% Export-Import Bank of Korea 540,000,000 $ 8,272,720 0.07% Abu Dhabi Crude Oil Pipeline LLC 8,065,000 $ 8,240,930 0.07% Stillwater Mining Co 7,800,000 $ 8,004,750 0.06% Pampa Energia SA 7,260,000 $ 7,919,208 0.06% Banque Ouest Africaine de Developpement 7,416,000 $ 7,906,880 0.06%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Development Bank of Kazakhstan JSC 7,705,000 $ 7,820,667 0.06% Colombian TES 22,871,300,000 $ 7,818,352 0.06% El Salvador Government International Bond 7,305,000 $ 7,578,938 0.06% Saudi Government International Bond 7,600,000 $ 7,543,000 0.06% Gerdau Trade Inc 7,330,000 $ 7,353,823 0.06% Mexican Bonos 142,030,000 $ 7,294,282 0.06% Braskem America Finance Co 5,960,000 $ 7,196,700 0.06% Perusahaan Penerbit SBSN Indonesia III 6,685,000 $ 7,086,100 0.06% European Bank for Reconstruction & Development 94,630,000,000 $ 7,082,769 0.06% Ukraine Government International Bond 6,630,000 $ 7,036,353 0.06% Indonesia Treasury Bond 83,915,000,000 $ 6,945,223 0.06% Peru Government Bond 21,563,000 $ 6,935,306 0.06% Petrobras Global Finance BV 6,205,000 $ 6,890,653 0.06% Credit Bank of Moscow Via CBOM Finance PLC 7,405,000 $ 6,859,874 0.06% Abu Dhabi Government International Bond 6,875,000 $ 6,813,125 0.06% JBS Investments GmbH 6,625,000 $ 6,760,813 0.05% Petroamazonas EP 6,805,000 $ 6,595,406 0.05% MTN Mauritius Investment Ltd 6,075,000 $ 6,561,000 0.05% Eastern and Southern African Trade and Development Bank 6,270,000 $ 6,493,275 0.05% Sri Lanka Government International Bond 6,100,000 $ 6,482,763 0.05% Banco Nacional de Costa Rica 6,085,000 $ 6,465,313 0.05% Minejesa Capital BV 6,300,000 $ 6,437,044 0.05% KazAgro National Management Holding JSC 6,305,000 $ 6,369,689 0.05% KazMunayGas National Co JSC 5,765,000 $ 6,312,675 0.05% Turkey Government Bond 24,627,600 $ 6,297,208 0.05% Sri Lanka Government International Bond 5,800,000 $ 6,192,376 0.05% Turkiye Vakiflar Bankasi TAO 6,170,000 $ 6,154,575 0.05% Croatia Government International Bond 5,365,000 $ 6,109,394 0.05% Banco Hipotecario SA 5,340,000 $ 6,093,260 0.05% Argentine Bonos del Tesoro 108,977,000 $ 6,049,923 0.05% Ecopetrol SA 6,095,000 $ 6,049,288 0.05% Oil and Gas Holding Co BSCC/The 5,805,000 $ 6,022,920 0.05% Banque Ouest Africaine de Developpement 5,680,000 $ 5,907,200 0.05% Costa Rica Government International Bond 5,550,000 $ 5,896,875 0.05% Republic of Poland Government Bond 22,926,000 $ 5,885,261 0.05% Indonesia Government International Bond 5,555,000 $ 5,879,151 0.05% Ghana Government International Bond 5,405,000 $ 5,864,425 0.05% Bahrain Government International Bond 6,000,000 $ 5,844,564 0.05% Malaysia Government Bond 24,393,000 $ 5,803,195 0.05% Ivory Coast Government International Bond 5,804,475 $ 5,722,748 0.05% Petrobras Global Finance BV 5,670,000 $ 5,688,428 0.05%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Brazilian Government International Bond 6,130,000 $ 5,672,600 0.05% Mexican Bonos 101,220,000 $ 5,512,634 0.04% Kenya Government International Bond 5,325,000 $ 5,491,140 0.04% Turkey Government International Bond 5,200,000 $ 5,476,640 0.04% Argentina POM Politica Monetaria 89,818,766 $ 5,460,664 0.04% Petroleos de Venezuela SA 6,510,000 $ 5,413,065 0.04% Vale Overseas Ltd 4,920,000 $ 5,405,948 0.04% Banco do Brasil SA/Cayman 5,400,000 $ 5,389,200 0.04% Suzano Austria GmbH 4,795,000 $ 5,356,015 0.04% Atento Luxco 1 SA 5,100,000 $ 5,319,300 0.04% Provincia de Buenos Aires/Argentina 5,005,000 $ 5,275,921 0.04% Peruvian Government International Bond 15,906,000 $ 5,190,279 0.04% Vale Overseas Ltd 4,310,000 $ 5,161,656 0.04% Indonesia Government International Bond 4,560,000 $ 5,148,140 0.04% Ukraine Government International Bond 4,930,000 $ 5,083,126 0.04% Bancolombia SA 5,045,000 $ 5,051,306 0.04% Petroleos Mexicanos 4,705,000 $ 4,999,063 0.04% Russian Federal Bond - OFZ 290,640,000 $ 4,980,192 0.04% Petroleos Mexicanos 4,550,000 $ 4,968,600 0.04% Serbia International Bond 4,315,000 $ 4,962,354 0.04% 1MDB Energy Ltd 4,500,000 $ 4,882,433 0.04% BBVA Bancomer SA/Texas 4,260,000 $ 4,837,230 0.04% Argentine Bonos del Tesoro 86,118,000 $ 4,826,466 0.04% Republic of South Africa Government Bond 78,017,266 $ 4,794,403 0.04% Russian Foreign Bond - Eurobond 4,400,000 $ 4,785,950 0.04% C&W Senior Financing Designated Activity Co 4,570,000 $ 4,775,650 0.04% Petroleos de Venezuela SA 16,435,000 $ 4,725,063 0.04% Indonesia Government International Bond 4,200,000 $ 4,702,925 0.04% Colombia Government International Bond 4,535,000 $ 4,665,381 0.04% Inter-American Development Bank 293,300,000 $ 4,515,198 0.04% Pertamina Persero PT 3,895,000 $ 4,457,605 0.04% Croatia Government International Bond 4,105,000 $ 4,427,653 0.04% Africa Finance Corp 4,210,000 $ 4,257,363 0.03% Petrobras Global Finance BV 4,275,000 $ 4,249,350 0.03% Saudi Government International Bond 4,125,000 $ 4,221,839 0.03% KSA Sukuk Ltd 4,215,000 $ 4,219,637 0.03% Asian Development Bank 272,000,000 $ 4,183,147 0.03% MHP SA 3,865,000 $ 4,174,200 0.03% Angolan Government International Bond 3,700,000 $ 4,033,000 0.03% Zambia Government International Bond 4,205,000 $ 4,016,616 0.03% Zambia Government International Bond 3,665,000 $ 3,995,583 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS CSN Islands XI Corp 4,290,000 $ 3,991,845 0.03% Telefonica Celular del Paraguay SA 3,880,000 $ 3,988,873 0.03% Banco de Bogota SA 3,620,000 $ 3,927,700 0.03% Republic of Angola Via Northern Lights III BV 3,810,000 $ 3,924,910 0.03% Indonesia Government International Bond 3,700,000 $ 3,923,550 0.03% Pampa Energia SA 3,545,000 $ 3,876,458 0.03% Minerva Luxembourg SA 3,725,000 $ 3,862,825 0.03% Ukraine Government International Bond 3,595,000 $ 3,837,806 0.03% Pertamina Persero PT 3,600,000 $ 3,802,489 0.03% Mexico Government International Bond 3,625,000 $ 3,797,188 0.03% JBS Investments GmbH 3,775,000 $ 3,727,813 0.03% GMR Hyderabad International Airport Ltd 3,750,000 $ 3,691,440 0.03% International Bank for Reconstruction & Development 236,950,000 $ 3,673,466 0.03% Aeropuertos Dominicanos Siglo XXI SA 3,340,000 $ 3,623,900 0.03% Yapi ve Kredi Bankasi AS 3,725,000 $ 3,614,889 0.03% Venezuela Government International Bond 9,165,000 $ 3,597,263 0.03% YPF SA 3,210,000 $ 3,404,234 0.03% Export-Import Bank of Korea 44,000,000,000 $ 3,256,723 0.03% Argentine Republic Government International Bond 28,065,000 $ 3,171,345 0.03% Teva Pharmaceutical Finance Netherlands III BV 3,575,000 $ 3,162,259 0.03% Petroleos Mexicanos 3,030,000 $ 3,123,021 0.03% Braskem Finance Ltd 2,950,000 $ 3,035,550 0.02% Marfrig Holdings Europe BV 2,936,000 $ 3,035,090 0.02% Turkey Government International Bond 2,915,000 $ 3,023,939 0.02% Kenya Government International Bond 2,870,000 $ 2,982,504 0.02% CSN Resources SA 3,200,000 $ 2,960,000 0.02% Vale Canada Ltd 2,575,000 $ 2,864,688 0.02% ENA Norte Trust 2,740,629 $ 2,857,105 0.02% Tengizchevroil Finance Co International Ltd 2,895,000 $ 2,846,682 0.02% Gazprom OAO Via Gaz Capital SA 2,570,000 $ 2,846,152 0.02% Bonos de la Tesoreria de la Republica en pesos 1,610,000,000 $ 2,742,605 0.02% Petroleos de Venezuela SA 9,420,000 $ 2,614,050 0.02% Bonos de la Tesoreria de la Republica en pesos 1,615,000,000 $ 2,603,690 0.02% Inter-American Development Bank 32,750,000,000 $ 2,576,177 0.02% Venezuela Government International Bond 7,440,000 $ 2,511,000 0.02% Pelabuhan Indonesia II PT 2,315,000 $ 2,445,705 0.02% Sri Lanka Government International Bond 2,220,000 $ 2,392,050 0.02% Turkiye Vakiflar Bankasi TAO 2,300,000 $ 2,320,258 0.02% Province of British Columbia Canada 133,400,000 $ 2,093,685 0.02% Samarco Mineracao SA 3,025,000 $ 1,777,188 0.01% Yapi ve Kredi Bankasi AS 1,790,000 $ 1,737,088 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Petroleos de Venezuela SA 5,705,000 $ 1,648,745 0.01% Samarco Mineracao SA 2,525,000 $ 1,487,730 0.01% SACI Falabella 1,460,000 $ 1,423,500 0.01% Ecuador Government International Bond 1,075,000 $ 1,166,375 0.01% Odebrecht Finance Ltd 2,870,000 $ 1,083,425 0.01% Frontera Energy Corp 35,992 $ 1,076,096 0.01% Braskem Finance Ltd 1,000,000 $ 1,029,000 0.01% Odebrecht Finance Ltd 2,540,000 $ 939,800 0.01% Eldorado Intl. Finance GmbH 750,000 $ 766,875 0.01% ENA Norte Trust 451,833 $ 471,036 0.00% Russian Foreign Bond - Eurobond 100,000 $ 106,617 0.00%

Total Emerging Market Debt-Logan Circle $ 1,092,469,711 8.86%

Emerging Market Debt-Stone Harbor Wells Fargo Advantage Government Money Market Fund 164,190,760 $ 164,190,760 1.33% Russian Federal Bond - OFZ 4,107,800,000 $ 76,037,851 0.62% Colombian TES 170,690,000,000 $ 59,299,099 0.48% Iraq International Bond 61,683,000 $ 58,055,793 0.47% Argentine Republic Government International Bond 37,932,831 $ 50,321,271 0.41% Republic of South Africa Government Bond 520,544,000 $ 39,884,228 0.32% Indonesia Treasury Bond 497,250,000,000 $ 37,341,871 0.30% Brazil Notas do Tesouro Nacional Serie F 110,000,000 $ 33,999,885 0.28% Egypt Treasury Bills 640,300,000 $ 32,607,586 0.26% 1MDB Global Investments Ltd 31,200,000 $ 29,975,868 0.24% Uruguay Government International Bond 729,030,000 $ 26,599,526 0.22% Republic of South Africa Government Bond 537,380,000 $ 26,225,968 0.21% Mexican Bonos 519,540,000 $ 24,608,827 0.20% Ukraine Government International Bond 23,875,000 $ 23,537,694 0.19% Dominican Republic Bond 1,053,900,000 $ 23,369,039 0.19% Brazil Notas do Tesouro Nacional Serie F 73,680,000 $ 22,720,631 0.18% Russian Federal Bond - OFZ 1,173,620,000 $ 20,093,827 0.16% Petroleos Mexicanos 420,000,000 $ 19,627,019 0.16% Indonesia Treasury Bond 244,500,000,000 $ 19,469,862 0.16% Republic of Azerbaijan International Bond 18,470,000 $ 18,998,057 0.15% Costa Rica Government International Bond 17,845,000 $ 18,960,313 0.15% Ivory Coast Government International Bond 17,840,000 $ 17,592,024 0.14% Ukraine Government International Bond 16,967,000 $ 17,477,333 0.14% Brazil Letras do Tesouro Nacional 62,779,000 $ 15,349,392 0.12% Petrobras Global Finance BV 12,449,000 $ 15,078,851 0.12% Ukraine Government International Bond 26,371,000 $ 15,037,377 0.12% Indonesia Treasury Bond 200,000,000,000 $ 14,989,862 0.12%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Mexican Bonos 276,370,000 $ 14,876,632 0.12% Venezuela Government International Bond 30,000,600 $ 14,025,281 0.11% Qatar Government International Bond 13,200,000 $ 13,926,000 0.11% Petroleos Mexicanos 300,000,000 $ 13,899,138 0.11% Petroleos Mexicanos 12,625,000 $ 13,012,588 0.11% Brazil Notas do Tesouro Nacional Serie F 40,300,000 $ 12,540,630 0.10% Geopark Ltd 12,168,000 $ 12,478,284 0.10% Metinvest BV 11,979,165 $ 12,458,332 0.10% Cosan Ltd 11,966,000 $ 12,373,442 0.10% Turkey Government International Bond 11,505,000 $ 12,117,066 0.10% Pampa Energia SA 11,069,000 $ 12,074,065 0.10% YPF SA 10,313,000 $ 11,981,643 0.10% Gabon Government International Bond 11,958,000 $ 11,972,613 0.10% Adecoagro SA 11,883,000 $ 11,948,357 0.10% Turkey Government Bond 47,020,000 $ 11,945,414 0.10% Lebanon Government International Bond 12,243,000 $ 11,921,156 0.10% Republic of South Africa Government Bond 179,990,000 $ 11,079,338 0.09% Ecuador Government International Bond 10,750,000 $ 10,953,659 0.09% Turkey Government Bond 41,516,000 $ 10,593,636 0.09% Angolan Government International Bond 9,403,000 $ 10,249,270 0.08% Nigeria OMO Bill 3,983,000,000 $ 10,194,803 0.08% Ukraine Government International Bond 9,201,000 $ 9,764,929 0.08% Southern Gas Corridor CJSC 8,574,000 $ 9,688,963 0.08% Republic of South Africa Government International Bond 9,031,000 $ 9,626,594 0.08% Petroleos Mexicanos 8,753,000 $ 9,558,276 0.08% Lebanon Government International Bond 9,878,000 $ 9,385,345 0.08% Petroleos Mexicanos 8,839,000 $ 9,110,357 0.07% Petroleos de Venezuela SA 31,729,711 $ 8,963,643 0.07% Republic of Cameroon International Bond 7,510,000 $ 8,900,552 0.07% Turkey Government Bond 34,740,000 $ 8,882,920 0.07% Argentine Republic Government International Bond 10,452,000 $ 8,656,430 0.07% Turkey Government International Bond 9,004,000 $ 8,580,812 0.07% Gabon Government International Bond 8,399,000 $ 8,232,364 0.07% Nigeria Government International Bond 7,472,000 $ 8,207,843 0.07% Senegal Government International Bond 7,788,000 $ 8,050,066 0.07% Turkiye Garanti Bankasi AS 8,053,000 $ 7,952,338 0.06% Vedanta Resources PLC 7,700,000 $ 7,855,933 0.06% Republic of South Africa Government International Bond 7,741,000 $ 7,694,430 0.06% Petrobras Global Finance BV 7,508,000 $ 7,648,775 0.06% Turkey Government Bond 28,820,000 $ 7,401,480 0.06% Republic of Cameroon International Bond 6,130,000 $ 7,265,031 0.06%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS State Oil Co of the Azerbaijan Republic 7,053,000 $ 7,081,212 0.06% Ecuador Government International Bond 6,245,000 $ 7,056,850 0.06% Petrobras Global Finance BV 6,320,000 $ 7,018,360 0.06% Turkey Government International Bond 6,183,000 $ 6,809,462 0.06% Iraq International Bond 6,558,000 $ 6,570,631 0.05% KazTransGas JSC 6,651,000 $ 6,567,863 0.05% Digicel Group Ltd 6,449,000 $ 6,376,449 0.05% Egypt Treasury Bills 114,025,000 $ 6,294,086 0.05% Minerva Luxembourg SA 6,058,000 $ 6,282,146 0.05% Digicel Group Ltd 6,536,000 $ 6,160,180 0.05% Ukraine Government International Bond 5,875,000 $ 6,110,235 0.05% Venezuela Government International Bond 18,000,000 $ 6,075,000 0.05% Marfrig Holdings Europe BV 5,771,000 $ 6,030,695 0.05% Cosan Luxembourg SA 5,536,000 $ 6,001,024 0.05% IHS Netherlands Holdco BV 5,644,000 $ 5,995,599 0.05% Southern Gas Corridor CJSC 5,115,000 $ 5,780,155 0.05% Brazilian Government International Bond 6,134,000 $ 5,676,301 0.05% Ivory Coast Government International Bond 5,556,470 $ 5,478,235 0.04% Kenya Government International Bond 5,194,000 $ 5,397,605 0.04% Ukraine Government International Bond 5,041,000 $ 5,373,958 0.04% Mexican Bonos 101,520,000 $ 5,213,797 0.04% Petroleos Mexicanos 5,635,000 $ 5,108,973 0.04% Nigeria Treasury Bill 1,961,376,000 $ 5,042,421 0.04% Petroleos Mexicanos 4,877,000 $ 4,851,347 0.04% El Salvador Government International Bond 4,231,000 $ 4,706,988 0.04% Indika Energy Capital II Pte Ltd 4,348,000 $ 4,532,455 0.04% Ghana Government International Bond 3,393,000 $ 4,520,833 0.04% Turkey Government International Bond 4,165,000 $ 4,448,320 0.04% Argentine Republic Government International Bond 33,457,684 $ 4,286,659 0.03% Tullow Oil PLC 4,285,000 $ 4,274,288 0.03% Dominican Republic International Bond 3,908,000 $ 4,147,365 0.03% Banco Nacional de Costa Rica 3,969,000 $ 4,125,776 0.03% KazAgro National Management Holding JSC 4,000,000 $ 4,041,040 0.03% Ukraine Government International Bond 3,744,000 $ 3,996,870 0.03% Venezuela Government International Bond 6,000,000 $ 3,990,000 0.03% Dominican Republic International Bond 3,266,000 $ 3,878,375 0.03% State Savings Bank of Ukraine Via SSB #1 PLC 3,599,000 $ 3,877,951 0.03% Argentine Republic Government International Bond 2,752,207 $ 3,683,107 0.03% Ecuador Government International Bond 3,387,000 $ 3,674,895 0.03% Provincia del Chaco Argentina 3,321,000 $ 3,546,097 0.03% Petrobras Global Finance BV 3,197,000 $ 3,352,854 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Ukraine Government International Bond 3,224,000 $ 3,320,971 0.03% Ukraine Government International Bond 3,199,000 $ 3,298,361 0.03% State Oil Co of the Azerbaijan Republic 3,000,000 $ 3,297,432 0.03% Zambia Government International Bond 3,077,000 $ 3,293,005 0.03% Venezuela Government International Bond 8,105,000 $ 3,262,263 0.03% Republic of Iraq - Merrill Lynch 469,834,632 $ 3,133,746 0.03% Ecuador Government International Bond 2,692,000 $ 3,041,960 0.02% Costa Rica Government International Bond 3,061,000 $ 2,999,780 0.02% Uruguay Government International Bond 85,000,000 $ 2,949,366 0.02% Turkey Government International Bond 3,266,000 $ 2,816,291 0.02% Petroleos de Venezuela SA 9,858,915 $ 2,735,849 0.02% Dominican Republic International Bond 2,491,000 $ 2,712,076 0.02% KazMunayGas National Co JSC 2,447,000 $ 2,679,465 0.02% Vedanta Resources PLC 2,541,000 $ 2,658,394 0.02% Costa Rica Government International Bond 2,643,000 $ 2,613,266 0.02% Republic of South Africa Government International Bond 2,569,000 $ 2,602,890 0.02% Kenya Government International Bond 2,427,000 $ 2,502,722 0.02% Gabon Government International Bond 2,480,983 $ 2,431,760 0.02% Dominican Republic International Bond 2,224,000 $ 2,394,136 0.02% Venezuela Government International Bond 7,000,000 $ 2,275,000 0.02% KazMunayGas National Co JSC 2,015,000 $ 2,206,425 0.02% Angolan Government International Bond 1,999,000 $ 2,178,910 0.02% Zambia Government International Bond 1,972,000 $ 1,883,654 0.02% Petroamazonas EP 1,926,000 $ 1,866,679 0.02% Ethiopia International Bond 1,800,000 $ 1,854,000 0.02% Petroleos Mexicanos 1,204,000 $ 1,599,958 0.01% Petroleos Mexicanos 1,447,000 $ 1,580,124 0.01% EP PetroEcuador via Noble Sovereign Funding I Ltd 1,484,211 $ 1,510,926 0.01% Ivory Coast Government International Bond 1,468,730 $ 1,448,050 0.01% El Salvador Government International Bond 1,341,000 $ 1,444,928 0.01% Republic of Azerbaijan International Bond 1,402,000 $ 1,442,083 0.01% Brazilian Government International Bond 1,394,000 $ 1,412,819 0.01% Ivory Coast Government International Bond 1,248,000 $ 1,259,856 0.01% Indo Energy Finance II BV 1,200,000 $ 1,217,851 0.01% Ecuador Government International Bond 1,053,000 $ 1,142,505 0.01% Petroleos Mexicanos 1,029,000 $ 1,060,590 0.01% Brazil Minas SPE via State of Minas Gerais 1,029,000 $ 1,047,008 0.01% Qatar Government International Bond 1,019,000 $ 995,563 0.01% Panama Government International Bond 752,000 $ 992,640 0.01% Tullow Oil PLC 987,000 $ 984,533 0.01% Vedanta Resources PLC 880,000 $ 983,400 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Dominican Republic International Bond 763,000 $ 930,860 0.01% Ivory Coast Government International Bond 729,000 $ 896,967 0.01% MARB BondCo PLC 797,000 $ 802,978 0.01% El Salvador Government International Bond 633,000 $ 704,213 0.01% Kenya Government International Bond 647,000 $ 672,362 0.01% Ukraine Government International Bond 593,000 $ 621,580 0.01% Zambia Government International Bond 617,000 $ 589,358 0.00% Ukraine Government International Bond 570,000 $ 587,704 0.00% Costa Rica Government International Bond 652,000 $ 585,170 0.00% Lebanon Government International Bond 591,000 $ 569,947 0.00% Eskom Holdings SOC Ltd 537,000 $ 549,494 0.00% Eskom Holdings SOC Ltd 537,000 $ 542,370 0.00% Vedanta Resources PLC 99,000 $ 106,772 0.00% Russian Foreign Bond - Eurobond 100,000 $ 106,617 0.00%

Total Emerging Market Debt-Stone Harbor $ 1,658,332,324 13.45%

Global Infrastructure-Colonial First State National Grid PLC 6,663,384 $ 80,209,937 0.65% Transurban Group 6,011,296 $ 55,880,011 0.45% Dominion Energy Inc 617,840 $ 50,131,538 0.41% East Japan Railway Co 453,200 $ 43,951,161 0.36% Atlantia SpA 1,290,424 $ 42,068,610 0.34% American Tower Corp 286,877 $ 41,215,619 0.33% Kinder Morgan Inc/DE 2,249,574 $ 40,739,785 0.33% Southern Co/The 724,212 $ 37,803,866 0.31% PG&E Corp 646,303 $ 37,336,924 0.30% NextEra Energy Inc 235,957 $ 36,589,852 0.30% Enterprise Products Partners LP 1,390,597 $ 34,069,627 0.28% American Electric Power Co Inc 457,704 $ 34,057,755 0.28% Enbridge Inc 765,818 $ 29,431,251 0.24% CCR SA 4,856,600 $ 26,960,492 0.22% Great Plains Energy Inc 818,295 $ 26,864,625 0.22% Groupe Eurotunnel SE 1,885,855 $ 23,699,219 0.19% Jiangsu Expressway Co Ltd 15,048,329 $ 23,071,796 0.19% Power Assets Holdings Ltd 2,643,500 $ 22,916,809 0.19% Central Japan Railway Co 119,900 $ 21,779,445 0.18% Plains All American Pipeline LP 1,053,992 $ 21,048,220 0.17% Osaka Gas Co Ltd 1,080,500 $ 20,928,260 0.17% Union Pacific Corp 178,535 $ 20,672,568 0.17% SSE PLC 1,100,563 $ 20,212,757 0.16% Crown Castle International Corp 172,316 $ 18,451,597 0.15%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Vinci SA 178,367 $ 17,475,978 0.14% CSX Corp 321,238 $ 16,200,032 0.13% Norfolk Southern Corp 120,622 $ 15,852,143 0.13% UGI Corp 307,127 $ 14,699,098 0.12% Hydro One Ltd 814,200 $ 14,395,707 0.12% Abertis Infraestructuras SA 659,215 $ 14,258,038 0.12% Eversource Energy 205,516 $ 12,873,522 0.10% NiSource Inc 399,139 $ 10,525,295 0.09% Koninklijke Vopak NV 234,808 $ 10,163,218 0.08% Alliant Energy Corp 233,531 $ 10,102,551 0.08% COSCO SHIPPING Ports Ltd 8,710,000 $ 10,093,910 0.08% Aena SME SA 45,126 $ 8,279,433 0.07% Kamigumi Co Ltd 221,100 $ 5,292,911 0.04% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4,890,103 $ 4,890,103 0.04% Japan Airport Terminal Co Ltd 136,700 $ 4,859,062 0.04% China Merchants Port Holdings Co Ltd 1,394,000 $ 4,360,672 0.04% Grupo Aeroportuario del Pacifico SAB de CV 356,303 $ 3,387,822 0.03%

Total Global Infrastructure-Colonial First State $ 987,801,218 8.01%

Global Infrastructure-Reaves Comcast Corp - Class A 841,000 $ 30,301,230 0.25% NextEra Energy Inc 174,000 $ 26,982,180 0.22% NextEra Energy Partners LP 600,728 $ 23,632,640 0.19% Crown Castle International Corp 215,400 $ 23,065,032 0.19% Time Warner Inc 223,600 $ 21,977,644 0.18% DTE Energy Co 187,800 $ 20,744,388 0.17% InfraREIT Inc 851,246 $ 19,067,910 0.15% American Water Works Co Inc 215,500 $ 18,912,280 0.15% Sempra Energy 158,000 $ 18,565,000 0.15% Eversource Energy 281,100 $ 17,608,104 0.14% Uniti Group Inc 1,000,860 $ 17,515,050 0.14% CenturyLink Inc 920,000 $ 17,470,800 0.14% Williams Partners LP 445,000 $ 16,482,800 0.13% National Grid PLC 268,750 $ 16,407,188 0.13% EOG Resources Inc 135,100 $ 13,492,437 0.11% AT&T Inc 398,300 $ 13,402,795 0.11% BCE Inc 285,000 $ 13,155,600 0.11% Chevron Corp 110,000 $ 12,747,900 0.10% Enterprise Products Partners LP 493,300 $ 12,085,850 0.10% NiSource Inc 452,000 $ 11,919,240 0.10% SCANA Corp 265,000 $ 11,432,100 0.09%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS CMS Energy Corp 228,600 $ 11,057,382 0.09% Zayo Group Holdings Inc 301,462 $ 10,870,720 0.09% WEC Energy Group Inc 145,000 $ 9,771,550 0.08% Royal Dutch Shell PLC 155,000 $ 9,769,650 0.08% PG&E Corp 157,000 $ 9,069,890 0.07% Edison International 111,900 $ 8,946,405 0.07% Cogeco Communications Inc 100,000 $ 7,189,365 0.06% Public Service Enterprise Group Inc 140,000 $ 6,888,000 0.06% Portland General Electric Co 135,000 $ 6,444,900 0.05% Targa Resources Corp 120,000 $ 4,980,000 0.04% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4,832,666 $ 4,832,666 0.04% Dominion Energy Inc 56,000 $ 4,543,840 0.04% Pinnacle West Capital Corp 50,100 $ 4,394,271 0.04% ONEOK Inc 80,000 $ 4,341,600 0.04% Union Pacific Corp 21,000 $ 2,431,590 0.02% Royal Dutch Shell PLC - A Shares 70,000 $ 2,203,577 0.02% Verizon Communications Inc 40,000 $ 1,914,800 0.02% TELUS Corp 45,200 $ 1,637,144 0.01% SBA Communications Corp 10,000 $ 1,571,800 0.01% Frontier Communications Corp 1,700,000 $ 1,305,277 0.01% Infraestructura Energetica Nova SAB de CV 170,000 $ 867,213 0.01% CyrusOne Inc 10,000 $ 613,900 0.00% South Jersey Industries Inc 15,500 $ 526,535 0.00% TransCanada Corp 10,000 $ 474,800 0.00%

Total Global Infrastructure-Reaves $ 493,615,042 4.00%

Global REITS Simon Property Group Inc 263,610 $ 40,946,541 0.33% Essex Property Trust Inc 121,483 $ 31,880,784 0.26% Prologis Inc 464,213 $ 29,978,876 0.24% Starwood Waypoint Homes 726,105 $ 26,364,873 0.21% STORE Capital Corp 1,046,267 $ 25,832,332 0.21% Sun Communities Inc 277,826 $ 25,076,575 0.20% InterXion Holding NV 438,407 $ 23,406,550 0.19% Mitsui Fudosan Co Ltd 998,600 $ 23,308,311 0.19% Spirit Realty Capital Inc 2,760,092 $ 22,936,365 0.19% Link REIT 2,622,500 $ 22,048,163 0.18% Crown Castle International Corp 188,902 $ 20,227,626 0.16% Apartment Investment & Management Co 459,178 $ 20,194,648 0.16% CubeSmart 712,026 $ 19,381,348 0.16% Dexus 2,562,163 $ 19,185,487 0.16%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Merlin Properties Socimi SA 1,412,355 $ 18,648,900 0.15% Gramercy Property Trust 586,304 $ 17,413,229 0.14% ADO Properties SA 349,528 $ 17,279,764 0.14% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 16,763,742 $ 16,763,742 0.14% Deutsche Wohnen SE 390,264 $ 16,703,430 0.14% LEG Immobilien AG 155,015 $ 15,790,527 0.13% Independence Realty Trust Inc 1,508,312 $ 15,309,367 0.12% Kilroy Realty Corp 214,294 $ 15,264,162 0.12% NewRiver REIT PLC 3,288,345 $ 14,631,766 0.12% Weyerhaeuser Co 398,476 $ 14,309,273 0.12% City Office REIT Inc 1,082,045 $ 14,109,867 0.11% Japan Hotel REIT Investment Corp 20,515 $ 13,582,737 0.11% New World Development Co Ltd 8,807,000 $ 13,130,530 0.11% Equinix Inc 27,741 $ 12,857,954 0.10% WPT Industrial Real Estate Investment Trust 957,362 $ 12,813,237 0.10% Goodman Group 1,913,678 $ 12,270,048 0.10% Aroundtown SA 1,716,940 $ 12,043,402 0.10% STAG Industrial Inc 433,465 $ 11,833,595 0.10% Alexandria Real Estate Equities Inc 95,193 $ 11,800,124 0.10% Sun Hung Kai Properties Ltd 691,000 $ 11,304,344 0.09% EPR Properties 153,546 $ 10,622,312 0.09% MCUBS MidCity Investment Corp 3,080 $ 10,203,787 0.08% Segro PLC 1,398,677 $ 10,097,158 0.08% LondonMetric Property PLC 4,281,504 $ 10,024,626 0.08% CapitaLand Commercial Trust 7,807,445 $ 9,944,878 0.08% Fonciere Des Regions 96,915 $ 9,868,759 0.08% Liberty Property Trust 223,740 $ 9,593,971 0.08% Cromwell Property Group 12,515,000 $ 9,579,805 0.08% Macquarie Mexico Real Estate Management SA de CV 7,727,600 $ 9,331,122 0.08% Hudson Pacific Properties Inc 275,100 $ 9,303,882 0.08% Gecina SA 54,714 $ 8,886,780 0.07% DDR Corp 1,145,080 $ 8,782,764 0.07% Invitation Homes Inc 381,417 $ 8,608,582 0.07% Klepierre SA 212,915 $ 8,475,746 0.07% CYS Investments Inc 1,056,987 $ 8,455,896 0.07% Propertylink Group 10,849,669 $ 8,314,484 0.07% CapitaLand Ltd 3,065,100 $ 8,254,296 0.07% Healthcare Trust of America Inc 264,819 $ 7,957,811 0.06% Tokyo Tatemono Co Ltd 564,700 $ 7,921,799 0.06% Sunstone Hotel Investors Inc 477,475 $ 7,792,392 0.06% Altarea SCA 33,455 $ 7,535,021 0.06%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Safestore Holdings PLC 1,274,425 $ 7,529,179 0.06% PLA Administradora Industrial S de RL de CV 4,830,345 $ 7,402,326 0.06% Castellum AB 457,724 $ 7,344,754 0.06% Charter Hall Group 1,631,227 $ 7,252,444 0.06% Extra Space Storage Inc 86,921 $ 7,091,884 0.06% Eurocommercial Properties NV 169,290 $ 7,049,059 0.06% Brixmor Property Group Inc 399,180 $ 6,973,675 0.06% Champion REIT 9,331,000 $ 6,734,180 0.05% Frasers Logistics & Industrial Trust 8,211,805 $ 6,716,926 0.05% Park Hotels & Resorts Inc 230,798 $ 6,644,674 0.05% Industrial & Infrastructure Fund Investment Corp 1,599 $ 6,514,157 0.05% Japan Logistics Fund Inc 3,521 $ 6,318,067 0.05% Physicians Realty Trust 360,844 $ 6,271,469 0.05% Taubman Centers Inc 131,615 $ 6,214,860 0.05% Frasers Centrepoint Trust 3,866,200 $ 6,154,613 0.05% TLG Immobilien AG 261,584 $ 6,067,648 0.05% Brandywine Realty Trust 339,472 $ 5,937,365 0.05% Pure Industrial Real Estate Trust 1,115,600 $ 5,759,163 0.05% Far East Hospitality Trust 11,045,700 $ 5,673,986 0.05% Atrium European Real Estate Ltd 1,181,404 $ 5,533,628 0.04% Entra ASA 386,477 $ 5,319,086 0.04% Kite Realty Group Trust 280,000 $ 5,233,200 0.04% Inmobiliaria Colonial Socimi SA 538,199 $ 5,123,908 0.04% Fabege AB 242,000 $ 5,109,895 0.04% Granite Real Estate Investment Trust 129,410 $ 4,999,453 0.04% Welltower Inc 74,551 $ 4,991,935 0.04% Kenedix Retail REIT Corp 2,439 $ 4,813,296 0.04% Hispania Activos Inmobiliarios SOCIMI SA 272,153 $ 4,696,053 0.04% Citycon OYJ 1,906,384 $ 4,655,019 0.04% Wihlborgs Fastigheter AB 194,931 $ 4,628,103 0.04% UNITE Group PLC/The 477,476 $ 4,460,540 0.04% CapitaLand Retail China Trust 3,652,900 $ 4,447,236 0.04% Tanger Factory Outlet Centers Inc 189,849 $ 4,319,065 0.04% Investa Office Fund 1,247,862 $ 4,285,563 0.03% SOHO China Ltd 7,300,000 $ 4,229,093 0.03% Sekisui House Reit Inc 3,808 $ 4,215,390 0.03% AIMS AMP Capital Industrial REIT 3,969,750 $ 4,210,128 0.03% Mitsubishi Estate Co Ltd 226,500 $ 4,107,475 0.03% Irish Residential Properties REIT PLC 2,272,325 $ 3,907,378 0.03% Arena REIT 2,175,825 $ 3,731,893 0.03% Spring Real Estate Investment Trust 8,431,000 $ 3,708,473 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Hilton Worldwide Holdings Inc 50,843 $ 3,674,932 0.03% Senior Housing Properties Trust 192,484 $ 3,541,706 0.03% Fortune Real Estate Investment Trust 2,768,000 $ 3,352,942 0.03% Japan Rental Housing Investments Inc 4,811 $ 3,326,493 0.03% Prologis Property Mexico SA de CV 1,705,580 $ 3,322,775 0.03% Daiwa Office Investment Corp 680 $ 3,304,608 0.03% Leopalace21 Corp 422,600 $ 3,155,655 0.03% Hilton Grand Vacations Inc 76,497 $ 3,133,317 0.03% Hoshino Resorts REIT Inc 643 $ 3,096,313 0.03% Empiric Student Property PLC 1,169,387 $ 1,511,012 0.01% Secure Income REIT Plc 301,021 $ 1,509,135 0.01% Viva Energy REIT 840,285 $ 1,378,003 0.01% Echo Investment SA 747,847 $ 934,470 0.01% Viva Industrial Trust 1,266,100 $ 911,214 0.01% RHT Health Trust 628,600 $ 387,551 0.00% Vastned Retail NV 1,572 $ 68,847 0.00%

Total Global REITS $ 1,091,169,554 8.85%

Global Value Equity JPMorgan Chase & Co 327,589 $ 32,958,729 0.27% Extended Stay America Inc 977,408 $ 19,372,227 0.16% Swiss Life Holding AG 51,979 $ 18,066,305 0.15% American Financial Group Inc/OH 170,033 $ 17,936,781 0.15% Microsoft Corp 208,729 $ 17,362,078 0.14% Unum Group 331,460 $ 17,249,178 0.14% Gilead Sciences Inc 215,372 $ 16,144,285 0.13% WestRock Co 256,107 $ 15,707,042 0.13% New Residential Investment Corp 883,274 $ 15,572,121 0.13% Accton Technology Corp 4,816,000 $ 15,528,910 0.13% Xinyi Glass Holdings Ltd 15,502,000 $ 15,021,800 0.12% Chevron Corp 127,781 $ 14,808,540 0.12% Natixis SA 1,877,928 $ 14,726,989 0.12% Xerox Corp 472,127 $ 14,310,169 0.12% Royal Dutch Shell PLC - B Shares 440,701 $ 14,189,322 0.12% DowDuPont Inc 193,115 $ 13,964,146 0.11% Citigroup Inc 189,080 $ 13,897,380 0.11% Microchip Technology Inc 141,583 $ 13,422,068 0.11% Royal Dutch Shell PLC - A Shares 415,029 $ 13,064,975 0.11% Two Harbors Investment Corp 1,322,175 $ 12,957,315 0.11% Mediobanca SpA 1,172,719 $ 12,846,374 0.10% Bank of America Corp 464,958 $ 12,735,200 0.10%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Showa Denko KK 376,400 $ 12,612,012 0.10% Philip Morris International Inc 117,022 $ 12,245,182 0.10% Intermediate Capital Group PLC 908,675 $ 11,733,094 0.10% Owens Corning 140,351 $ 11,605,624 0.09% AXA SA 380,171 $ 11,476,760 0.09% Leidos Holdings Inc 183,475 $ 11,470,857 0.09% TOTAL SA 204,829 $ 11,416,782 0.09% NN Group NV 271,074 $ 11,351,915 0.09% Wal-Mart Stores Inc 128,802 $ 11,245,703 0.09% Georg Fischer AG 9,049 $ 11,149,001 0.09% Huntsman Corp 345,842 $ 11,073,861 0.09% Cullen/Frost Bankers Inc 112,004 $ 11,032,394 0.09% Fifth Third Bancorp 380,364 $ 10,992,520 0.09% Park Hotels & Resorts Inc 376,594 $ 10,842,141 0.09% Ashtead Group PLC 417,458 $ 10,753,475 0.09% Anthem Inc 51,203 $ 10,712,180 0.09% Monmouth Real Estate Investment Corp 616,903 $ 10,512,027 0.09% Kyudenko Corp 237,700 $ 10,495,103 0.09% Cisco Systems Inc 302,309 $ 10,323,852 0.08% Parker-Hannifin Corp 56,517 $ 10,320,569 0.08% Blackstone Mortgage Trust Inc 323,497 $ 10,296,910 0.08% BOC Hong Kong Holdings Ltd 2,157,500 $ 10,280,836 0.08% HealthSouth Corp 221,803 $ 10,233,990 0.08% Dana Inc 331,620 $ 10,111,094 0.08% CenterPoint Energy Inc 340,874 $ 10,083,053 0.08% First Busey Corp 314,212 $ 9,778,277 0.08% Royal Caribbean Cruises Ltd 77,893 $ 9,640,817 0.08% Powertech Technology Inc 3,061,000 $ 9,585,893 0.08% L3 Technologies Inc 51,203 $ 9,584,178 0.08% Entergy Corp 110,474 $ 9,529,487 0.08% Central Pacific Financial Corp 303,551 $ 9,446,507 0.08% AbbVie Inc 103,647 $ 9,354,142 0.08% PacWest Bancorp 192,031 $ 9,278,938 0.08% Furukawa Electric Co Ltd 149,200 $ 9,083,403 0.07% Norfolk Southern Corp 69,072 $ 9,077,442 0.07% Summit Hotel Properties Inc 572,550 $ 9,052,016 0.07% Lloyds Banking Group PLC 9,880,957 $ 8,956,378 0.07% Enel SpA 1,442,963 $ 8,948,781 0.07% Rubis SCA 142,096 $ 8,916,895 0.07% Exxon Mobil Corp 106,526 $ 8,878,942 0.07% Times Property Holdings Ltd 8,588,000 $ 8,871,247 0.07%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Union Bankshares Corp 256,929 $ 8,866,620 0.07% Murphy Oil Corp 331,133 $ 8,857,808 0.07% Mitsubishi UFJ Financial Group Inc 1,304,600 $ 8,849,290 0.07% Sumitomo Corp 606,200 $ 8,768,142 0.07% Atmos Energy Corp 100,025 $ 8,726,181 0.07% Buzzi Unicem SpA 313,340 $ 8,723,320 0.07% Recordati SpA 186,502 $ 8,667,258 0.07% Vonovia SE 194,423 $ 8,588,340 0.07% ONEOK Inc 155,846 $ 8,457,762 0.07% Atos SE 54,442 $ 8,455,701 0.07% Vedanta Ltd 406,576 $ 8,375,466 0.07% Nintendo Co Ltd 21,400 $ 8,302,382 0.07% Cummins Inc 46,900 $ 8,295,672 0.07% East West Bancorp Inc 138,236 $ 8,272,042 0.07% Mitsui Mining & Smelting Co Ltd 158,000 $ 8,221,559 0.07% Prudential Financial Inc 74,017 $ 8,175,918 0.07% Whitecap Resources Inc 1,139,040 $ 8,175,731 0.07% BE Semiconductor Industries NV 103,588 $ 8,140,179 0.07% Exelon Corp 201,233 $ 8,091,579 0.07% WH Group Ltd 7,957,500 $ 8,063,984 0.07% ING Groep NV 433,681 $ 8,014,199 0.07% Pure Industrial Real Estate Trust 1,544,500 $ 7,973,312 0.06% NexPoint Residential Trust Inc 332,545 $ 7,897,944 0.06% Steel Dynamics Inc 211,862 $ 7,883,385 0.06% Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 34,887 $ 7,832,210 0.06% Samsung Electronics Co Ltd 3,171 $ 7,816,852 0.06% Moelis & Co 177,768 $ 7,599,582 0.06% China Shenhua Energy Co Ltd 3,162,000 $ 7,564,356 0.06% Bridgestone Corp 157,100 $ 7,504,730 0.06% Colgate-Palmolive Co 106,365 $ 7,493,414 0.06% China Petroleum & Chemical Corp 10,202,000 $ 7,491,520 0.06% UNIQA Insurance Group AG 728,063 $ 7,459,649 0.06% Downer EDI Ltd 1,375,543 $ 7,381,029 0.06% Hartford Financial Services Group Inc/The 134,041 $ 7,378,957 0.06% Nexity SA 119,511 $ 7,345,408 0.06% Manulife Financial Corp 365,100 $ 7,341,054 0.06% Yanzhou Coal Mining Co Ltd 7,338,000 $ 7,323,997 0.06% Oshkosh Corp 79,592 $ 7,287,444 0.06% New World Development Co Ltd 4,871,000 $ 7,262,270 0.06% Canon Inc 191,800 $ 7,205,370 0.06% DS Smith PLC 1,034,642 $ 7,155,506 0.06%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Kingboard Laminates Holdings Ltd 4,239,500 $ 7,124,555 0.06% Persimmon PLC 188,496 $ 7,014,963 0.06% Legal & General Group PLC 1,956,349 $ 6,936,349 0.06% Alumina Ltd 3,831,225 $ 6,875,210 0.06% Celanese Corp 64,783 $ 6,757,515 0.05% Trinseo SA 94,625 $ 6,718,375 0.05% CapitaLand Commercial Trust 5,255,100 $ 6,693,781 0.05% Corporate Office Properties Trust 208,951 $ 6,671,805 0.05% Allianz SE 28,265 $ 6,598,714 0.05% Hana Financial Group Inc 152,802 $ 6,539,749 0.05% Wal-Mart de Mexico SAB de CV 2,917,600 $ 6,531,662 0.05% Taiwan Semiconductor Manufacturing Co Ltd 796,000 $ 6,435,105 0.05% Lam Research Corp 30,741 $ 6,411,650 0.05% Mirvac Group 3,468,575 $ 6,411,147 0.05% MDC Holdings Inc 171,893 $ 6,366,917 0.05% Agricultural Bank of China Ltd 13,425,000 $ 6,323,085 0.05% Kerry Properties Ltd 1,400,000 $ 6,300,419 0.05% Highwoods Properties Inc 122,048 $ 6,230,550 0.05% IBERIABANK Corp 84,410 $ 6,225,238 0.05% BUWOG AG 214,855 $ 6,193,122 0.05% Western Digital Corp 69,286 $ 6,185,161 0.05% Allstate Corp/The 65,823 $ 6,178,147 0.05% Rio Tinto PLC 127,908 $ 6,044,990 0.05% Allison Transmission Holdings Inc 141,656 $ 6,018,963 0.05% Smiles Fidelidade SA 232,000 $ 5,989,888 0.05% Hill & Smith Holdings PLC 339,957 $ 5,972,284 0.05% China Merchants Bank Co Ltd 1,530,000 $ 5,842,550 0.05% Sun Hung Kai Properties Ltd 357,000 $ 5,840,305 0.05% Japan Hotel REIT Investment Corp 8,785 $ 5,816,444 0.05% Goodyear Tire & Rubber Co/The 188,906 $ 5,778,635 0.05% Danske Bank A/S 150,469 $ 5,742,418 0.05% Rio Tinto Ltd 107,673 $ 5,737,504 0.05% Denka Co Ltd 170,300 $ 5,689,792 0.05% HP Inc 259,570 $ 5,593,734 0.05% Rohm Co Ltd 58,200 $ 5,417,678 0.04% Subsea 7 SA 320,487 $ 5,402,563 0.04% Sanyo Chemical Industries Ltd 101,400 $ 5,325,547 0.04% Mineral Resources Ltd 398,549 $ 5,318,548 0.04% Masco Corp 132,239 $ 5,265,757 0.04% Aareal Bank AG 125,480 $ 5,217,133 0.04% Liberty Property Trust 120,825 $ 5,180,976 0.04%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Suzuki Motor Corp 94,500 $ 5,176,074 0.04% Olin Corp 140,751 $ 5,141,634 0.04% Resona Holdings Inc 947,700 $ 5,122,634 0.04% Comerica Inc 64,930 $ 5,101,550 0.04% Pfizer Inc 144,930 $ 5,081,246 0.04% CA Immobilien Anlagen AG 177,749 $ 5,068,245 0.04% Lincoln National Corp 66,490 $ 5,038,612 0.04% Digital Realty Trust Inc 42,306 $ 5,010,723 0.04% Bellway PLC 103,192 $ 5,003,329 0.04% SITC International Holdings Co Ltd 5,127,000 $ 4,945,321 0.04% Weichai Power Co Ltd 3,952,000 $ 4,921,131 0.04% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4,905,564 $ 4,905,564 0.04% Tripod Technology Corp 1,332,000 $ 4,905,508 0.04% Erste Group Bank AG 114,236 $ 4,903,574 0.04% Boliden AB 139,942 $ 4,896,817 0.04% Eiffage SA 46,802 $ 4,888,734 0.04% Mitsubishi Corp 208,000 $ 4,870,932 0.04% Sonae SGPS SA 4,030,129 $ 4,824,818 0.04% Pembina Pipeline Corp 145,800 $ 4,820,068 0.04% International Consolidated Airlines Group SA 566,001 $ 4,780,348 0.04% Mebuki Financial Group Inc 1,136,800 $ 4,742,623 0.04% Hu Lane Associate Inc 814,000 $ 4,646,028 0.04% Fujikura Ltd 527,200 $ 4,601,260 0.04% Wells Fargo & Co 81,035 $ 4,549,305 0.04% SUMCO Corp 205,900 $ 4,535,270 0.04% Reinsurance Group of America Inc 30,347 $ 4,533,235 0.04% ASR Nederland NV 108,055 $ 4,429,677 0.04% China General Plastics Corp 4,694,000 $ 4,400,402 0.04% ICICI Bank Ltd 473,379 $ 4,331,418 0.04% Valmet OYJ 219,096 $ 4,248,011 0.03% State Street Corp 45,619 $ 4,196,948 0.03% MKS Instruments Inc 38,389 $ 4,170,965 0.03% China Machinery Engineering Corp 6,758,000 $ 4,143,355 0.03% Annaly Capital Management Inc 358,034 $ 4,103,070 0.03% Verizon Communications Inc 84,850 $ 4,061,770 0.03% Humana Inc 15,898 $ 4,059,554 0.03% Nippon Electric Glass Co Ltd 98,000 $ 4,001,204 0.03% Lundin Mining Corp 521,600 $ 3,978,408 0.03% Sberbank of Russia PJSC 272,467 $ 3,910,504 0.03% MCUBS MidCity Investment Corp 1,179 $ 3,905,930 0.03% Merck & Co Inc 70,768 $ 3,898,609 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS DNB ASA 197,783 $ 3,817,092 0.03% United Tractors Tbk PT 1,484,000 $ 3,792,627 0.03% Origin Energy Ltd 615,707 $ 3,749,963 0.03% Svenska Cellulosa AB SCA 397,113 $ 3,728,880 0.03% New Flyer Industries Inc 85,200 $ 3,615,106 0.03% Basso Industry Corp 1,304,900 $ 3,607,173 0.03% RHT Health Trust 5,824,500 $ 3,590,983 0.03% KAR Auction Services Inc 75,196 $ 3,559,027 0.03% Wells Fargo Advantage Government Money Market Fund 3,552,548 $ 3,552,548 0.03% AT&T Inc 104,294 $ 3,509,493 0.03% Tai Fook Securities Group Ltd 6,157,000 $ 3,492,137 0.03% Astaldi SpA 490,620 $ 3,397,018 0.03% Itausa - Investimentos Itau SA 1,046,300 $ 3,374,336 0.03% Banco Santander Chile SA 106,963 $ 3,345,803 0.03% AIA Group Ltd 428,400 $ 3,228,199 0.03% ASM Pacific Technology Ltd 218,500 $ 3,188,016 0.03% Johnson & Johnson 21,140 $ 2,947,127 0.02% Laboratory Corp of America Holdings 19,067 $ 2,930,789 0.02% Credicorp Ltd 13,403 $ 2,807,124 0.02% Scandic Hotels Group AB 216,540 $ 2,793,342 0.02% Japan Lifeline Co Ltd 54,400 $ 2,609,627 0.02% Huntington Ingalls Industries Inc 11,041 $ 2,570,676 0.02% Ameren Corp 41,100 $ 2,547,789 0.02% Iberdrola SA 286,975 $ 2,319,048 0.02% Banco do Brasil SA 194,800 $ 2,059,176 0.02% CIMIC Group Ltd 53,278 $ 1,976,558 0.02% Anglo American PLC 98,429 $ 1,856,661 0.02% MS&AD Insurance Group Holdings Inc 50,300 $ 1,708,808 0.01% I-CABLE Communications Ltd 170,741 $ 5,348 0.00%

Total Global Value Equity $ 1,626,937,146 13.20%

High Yield-DDJ BlackRock Liquidity Funds FedFund Portfolio 56,583,756 $ 56,583,756 0.46% Foresight Energy LLC / Foresight Energy Finance Corp 55,650,000 $ 49,528,500 0.40% HRG Group Inc 42,747,000 $ 44,670,615 0.36% Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 39,601,000 $ 42,175,065 0.34% American Tire Distributors Inc 38,119,000 $ 39,786,706 0.32% US Renal Care Inc, Term Loan 37,350,000 $ 36,229,500 0.29% Hexion Inc 40,570,000 $ 36,107,300 0.29% Ten-X LLC, Term Loan 35,440,000 $ 35,440,000 0.29% Century Aluminum Co 32,532,000 $ 33,345,300 0.27%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Opal Acquisition Inc 33,182,000 $ 32,020,630 0.26% Heartland Dental LLC, Term Loan 31,520,000 $ 31,677,600 0.26% Evergreen Skills Lux Sarl, Term Loan 32,133,957 $ 30,862,095 0.25% Optimas OE Solutions Holding LLC / Optimas OE Solutions Inc 29,884,000 $ 30,182,840 0.24% Getty Images Inc, Term Loan B 29,637,977 $ 25,833,350 0.21% Tenet Healthcare Corp 27,430,000 $ 25,749,913 0.21% Optima Specialty Steel Inc, Term Loan 25,242,662 $ 25,242,662 0.20% Lanai Holdings III Inc, Term Loan 25,190,000 $ 24,749,175 0.20% Parq Holdings LP, Term Loan 24,672,550 $ 24,610,868 0.20% BCPE Eagle Buyer LLC, Term Loan 23,880,000 $ 23,909,850 0.19% Fairmount Santrol Inc, Term Loan B2 23,901,660 $ 23,841,906 0.19% Packaging Coordinators Midco Inc, Term Loan 24,050,000 $ 23,689,250 0.19% Peak 10 Holding Corp, Term Loan 21,350,000 $ 21,883,750 0.18% Joseph T Ryerson & Son Inc 18,880,000 $ 21,334,400 0.17% Dexko Global Inc, Term Loan 21,140,000 $ 21,298,550 0.17% Evergreen Skills Lux Sarl, Term Loan 24,770,370 $ 20,920,559 0.17% Truck Hero Inc, Term Loan 20,910,000 $ 20,883,863 0.17% NVA Holdings Inc/United States, Term Loan 20,729,130 $ 20,858,687 0.17% Opal Acquisition Inc 23,838,000 $ 20,441,085 0.17% Real Alloy Holding Inc 21,860,000 $ 20,220,500 0.16% Material Sciences Corp 21,196,165 $ 20,030,376 0.16% Avantor Inc 19,450,000 $ 19,646,056 0.16% MEG Energy Corp 21,627,000 $ 19,626,503 0.16% Avantor Performance Materials Holdings LLC, Term Loan 18,883,112 $ 19,260,775 0.16% RegionalCare Hospital Partners Holdings Inc 18,310,000 $ 19,225,500 0.16% Opal Acquisition Inc, Term Loan B 19,477,848 $ 18,684,905 0.15% TransDigm Inc 17,930,000 $ 18,243,775 0.15% Genoa a QoL Healthcare Co LLC, Term Loan 18,060,000 $ 18,060,000 0.15% JPW Industries Holding Corp 17,080,000 $ 17,934,000 0.15% MH Sub I LLC, Term Loan 17,570,000 $ 17,438,225 0.14% Wellness Merger Sub Inc, Term Loan 17,740,000 $ 17,222,524 0.14% Berlin Packaging LLC, Term Loan 17,049,847 $ 17,206,194 0.14% Resolute Energy Corp 16,800,000 $ 17,052,000 0.14% Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC 17,040,000 $ 16,401,000 0.13% High Ridge Brands Co 17,460,000 $ 16,194,150 0.13% Focus Financial Partners LLC, Term Loan 15,630,000 $ 15,786,300 0.13% AssuredPartners Inc 14,880,000 $ 15,512,400 0.13% Calpine Corp 16,250,000 $ 15,437,500 0.13% Masergy Holdings Inc, Term Loan 15,090,000 $ 15,297,488 0.12% Lully Finance LLC, Term Loan B1 15,795,000 $ 15,281,663 0.12% PharMerica Corp, Term Loan 14,690,000 $ 14,726,725 0.12%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS RP Crown Parent LLC 14,143,000 $ 14,708,720 0.12% GTT Communications Inc 13,743,000 $ 14,653,474 0.12% Optima Specialty Steel 14,740,000 $ 14,361,182 0.12% KUEHG Corp, Term Loan 14,160,000 $ 14,124,600 0.11% QCP SNF West/Central/East/AL REIT LLC 13,385,000 $ 13,920,400 0.11% NFP Corp 12,450,000 $ 12,948,000 0.11% Cleaver-Brooks Inc 12,500,000 $ 12,531,250 0.10% Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp 11,380,000 $ 12,518,000 0.10% US Renal Care Inc, Term Loan 12,172,441 $ 11,748,597 0.10% Engineered Machinery Holdings Inc, Term Loan 11,679,574 $ 11,737,972 0.10% Vizient Inc 10,245,000 $ 11,679,300 0.09% Trident Merger Sub Inc 11,720,000 $ 11,657,884 0.09% Hanger Inc, Term Loan 11,370,000 $ 11,540,550 0.09% Fairmount Santrol Inc, Term Loan B 11,270,000 $ 11,298,175 0.09% Cleaver-Brooks Inc 10,645,000 $ 10,897,819 0.09% Avantor Inc 10,610,000 $ 10,822,200 0.09% Xerium Technologies Inc 10,070,000 $ 10,343,904 0.08% Northwest Acquisitions ULC / Dominion Finco Inc 9,780,000 $ 10,097,850 0.08% Big River Steel LLC / BRS Finance Corp 9,340,000 $ 10,017,150 0.08% PFS Holding Corp, Term Loan 12,654,800 $ 9,886,563 0.08% Forum Energy Technologies Inc 9,570,000 $ 9,546,075 0.08% SP Finco LLC 9,390,000 $ 8,568,375 0.07% Fortress Transportation & Infrastructure Investors LLC 8,010,000 $ 8,390,475 0.07% BCD Acquisition Inc 7,320,000 $ 7,997,100 0.06% Ancestry.com Operations Inc, Term Loan B 7,786,000 $ 7,961,185 0.06% TierPoint LLC, Term Loan 7,180,000 $ 7,287,700 0.06% New Arclin US Holding Corp, Term Loan 6,790,000 $ 6,849,413 0.06% Camelot Finance SA 6,360,000 $ 6,837,000 0.06% Tempo Acquisition LLC / Tempo Acquisition Finance Corp 6,490,000 $ 6,571,125 0.05% Tenet Healthcare Corp 6,490,000 $ 6,522,450 0.05% Optima Specialty Steel Inc, Term Loan 6,510,360 $ 6,510,360 0.05% Optiv Security Inc, Term Loan 6,960,000 $ 6,403,200 0.05% Cloud Crane LLC 5,380,000 $ 6,079,400 0.05% SRS Distribution Inc, Term Loan 5,350,000 $ 5,477,063 0.04% TransDigm Inc 5,280,000 $ 5,451,600 0.04% MEG Energy Corp 5,900,000 $ 5,398,500 0.04% SESI LLC 5,030,000 $ 5,206,050 0.04% FPC Holdings Inc, Term Loan 5,051,925 $ 4,896,174 0.04% SESI LLC 4,285,000 $ 4,381,413 0.04% USIS Merger Sub Inc 3,950,000 $ 4,098,125 0.03% Cornerstone Chemical Co 3,940,000 $ 3,989,250 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS UTEX Industries Inc, Term Loan 4,150,000 $ 3,740,188 0.03% Jones Energy Holdings LLC / Jones Energy Finance Corp 4,715,000 $ 3,665,913 0.03% Jones Energy Holdings LLC / Jones Energy Finance Corp 4,188,000 $ 3,287,580 0.03% UTEX Industries Inc, Term Loan B 3,289,500 $ 3,111,308 0.03% Tenet Healthcare Corp 3,290,000 $ 3,014,463 0.02% Foresight Energy LP 695,156 $ 3,010,025 0.02% Miami Valley Steel Services Inc, Term Loan 2,983,500 $ 2,983,500 0.02% Apex Tool Group LLC 3,080,000 $ 2,918,300 0.02% Surgery Center Holdings Inc 1,660,000 $ 1,697,350 0.01% Material Sciences Corp - Warrants 1,131,541 $ 1,516,265 0.01% Conduent Finance Inc / Conduent Business Services LLC 805,000 $ 947,888 0.01% Engineered Machinery Holdings Inc, Delay-Draw Term Loan DD 166,851 $ 167,685 0.00% Optima Specialty Steel Inc, Term Loan -7,109,640 $ - 0.00% Engineered Machinery Holdings Inc, Delay-Draw Term Loan DD -1,223,574 $ - 0.00%

Total High Yield-DDJ $ 1,634,322,416 13.26%

High Yield-PGI Epicor / Eagle Parent 2L Note 15,000,000 $ 14,601,000 0.12% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 10,900,363 $ 10,900,363 0.09% Ally Financial Inc 9,820,000 $ 10,838,825 0.09% Voya Financial Inc 10,120,000 $ 10,676,600 0.09% DISH DBS Corp 10,590,000 $ 10,576,763 0.09% Midas Intermediate Holdco II LLC / Midas Intermediate Holdco II Finance 10,333,000 $ 10,436,330 0.08% Inc ArcelorMittal 7,285,000 $ 9,097,144 0.07% Aspect Software Inc 514,301 $ 8,743,117 0.07% HCA Inc 7,325,000 $ 7,389,094 0.06% Navios Maritime Acquisition Corp / Navios Acquisition Finance US Inc 8,228,000 $ 7,240,640 0.06% CCO Holdings LLC / CCO Holdings Capital Corp 6,860,000 $ 6,928,600 0.06% Unit Corp 6,640,000 $ 6,664,900 0.05% Solera LLC, Term Loan B 6,353,250 $ 6,399,057 0.05% Universal Hospital Services Inc 6,210,000 $ 6,287,625 0.05% Credit Acceptance Corp 5,979,000 $ 6,277,950 0.05% KeHE Distributors LLC / KeHE Finance Corp 6,075,000 $ 6,105,375 0.05% Chaparral Energy Inc - A Shares 252,908 $ 6,057,147 0.05% Teck Resources Ltd 5,110,000 $ 5,836,335 0.05% Triumph Group Inc 5,445,000 $ 5,819,344 0.05% JPMorgan Chase & Co 5,455,000 $ 5,623,941 0.05% CSC Holdings LLC 5,585,000 $ 5,560,566 0.05% HCA Inc 5,200,000 $ 5,466,500 0.04% GEO Group Inc/The 5,200,000 $ 5,435,560 0.04% NGL Energy Partners LP / NGL Energy Finance Corp 5,335,000 $ 5,321,663 0.04%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS TIBCO Software Inc 4,850,000 $ 5,298,625 0.04% Valeant Pharmaceuticals International Inc 5,380,000 $ 5,292,575 0.04% DISH DBS Corp 4,700,000 $ 5,140,625 0.04% Crown Cork & Seal Co Inc 4,345,000 $ 5,105,375 0.04% Caraustar Industries Inc, Term Loan 5,029,725 $ 5,065,335 0.04% Russell Investments US Institutional Holdco Inc, Term Loan B 4,962,312 $ 5,023,100 0.04% Navistar Inc, Term Loan B 4,983,152 $ 4,983,152 0.04% Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc 4,600,000 $ 4,881,750 0.04% Pershing Square Holdings Ltd 4,500,000 $ 4,719,600 0.04% Icahn Enterprises LP / Icahn Enterprises Finance Corp 4,560,000 $ 4,711,073 0.04% Opal Acquisition Inc 5,440,000 $ 4,664,800 0.04% Signode Industrial Group Lux SA/Signode Industrial Group US Inc 4,425,000 $ 4,596,469 0.04% Oasis Petroleum Inc 4,510,000 $ 4,588,925 0.04% Quintiles IMS Inc 4,270,000 $ 4,536,875 0.04% Consolidated Energy Finance SA 4,290,000 $ 4,536,675 0.04% Chesapeake Energy Corp, Term Loan 1.5 4,180,000 $ 4,479,581 0.04% T-Mobile USA Inc 4,020,000 $ 4,447,607 0.04% Post Holdings Inc 4,400,000 $ 4,422,000 0.04% Air Newco LLC, Term Loan B 4,459,284 $ 4,409,117 0.04% Lennar Corp 4,260,000 $ 4,387,800 0.04% Cloud Crane LLC 3,860,000 $ 4,361,800 0.04% Continental Resources Inc/OK 4,290,000 $ 4,343,625 0.04% First Data Corp 4,165,000 $ 4,326,394 0.04% Dell International LLC / EMC Corp 3,875,000 $ 4,277,031 0.03% Century Communities Inc 4,180,000 $ 4,221,758 0.03% American Axle & Manufacturing Inc 4,115,000 $ 4,217,875 0.03% Intelsat Jackson Holdings SA 4,865,000 $ 4,147,413 0.03% Maxar Technologies Ltd, Term Loan B 4,095,000 $ 4,118,055 0.03% Whiting Petroleum Corp 4,080,000 $ 4,110,600 0.03% Zayo Group LLC / Zayo Capital Inc 3,810,000 $ 4,100,932 0.03% Sprint Capital Corp 3,795,000 $ 4,048,791 0.03% Coveris Holdings SA 4,115,000 $ 4,012,125 0.03% INEOS US Finance LLC, Term Loan B 3,880,675 $ 3,883,120 0.03% Radiate Holdco LLC / Radiate Finance Inc 3,900,000 $ 3,831,750 0.03% Sprint Communications Inc 3,500,000 $ 3,797,500 0.03% Eldorado Resorts Inc 3,500,000 $ 3,780,000 0.03% WellCare Health Plans Inc 3,590,000 $ 3,778,475 0.03% CCO Holdings LLC / CCO Holdings Capital Corp 3,680,000 $ 3,772,000 0.03% Andeavor Logistics LP / Tesoro Logistics Finance Corp 3,475,000 $ 3,735,625 0.03% BWAY Holding Co 3,575,000 $ 3,709,063 0.03% Open Text Corp 3,445,000 $ 3,591,413 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Aruba Investments Inc 3,500,000 $ 3,570,000 0.03% L Brands Inc 3,650,000 $ 3,567,875 0.03% Cadence BanCorp 3,500,000 $ 3,532,555 0.03% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / Reynolds Group 3,390,000 $ 3,529,329 0.03% Issuer (Luxembourg) S.A. NRG Energy Inc 3,250,000 $ 3,522,188 0.03% Dynegy Inc 3,270,000 $ 3,511,163 0.03% Ziggo Secured Finance BV 3,415,000 $ 3,483,300 0.03% WMG Acquisition Corp 3,280,000 $ 3,455,480 0.03% California Resources Corp, Term Loan 3,215,000 $ 3,442,718 0.03% CRC Escrow Issuer LLC / CRC Finco Inc 3,420,000 $ 3,442,401 0.03% Golden Nugget Inc 3,375,000 $ 3,434,063 0.03% Bombardier Inc 3,065,000 $ 3,409,813 0.03% iStar Inc 3,255,000 $ 3,385,200 0.03% DJO Finco Inc / DJO Finance LLC / DJO Finance Corp 3,540,000 $ 3,380,700 0.03% Micron Technology Inc 3,030,000 $ 3,355,725 0.03% WildHorse Resource Development Corp 3,335,000 $ 3,309,988 0.03% BlueLine Rental Finance Corp / BlueLine Rental LLC 3,030,000 $ 3,287,550 0.03% Ascent Resources Utica Holdings LLC / ARU Finance Corp 3,005,000 $ 3,260,425 0.03% GTT Communications Inc 3,035,000 $ 3,236,069 0.03% CCM Merger Inc 3,110,000 $ 3,234,400 0.03% Silversea Cruise Finance Ltd 2,980,000 $ 3,196,050 0.03% Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp 2,980,000 $ 3,181,150 0.03% Tembec Industries Inc 3,085,000 $ 3,157,498 0.03% SFR Group SA 3,000,000 $ 3,142,500 0.03% CF Industries Inc 3,135,000 $ 3,127,163 0.03% NuStar Logistics LP 2,950,000 $ 3,112,250 0.03% Barclays PLC 2,935,000 $ 3,061,693 0.02% Sprint Communications Inc 2,890,000 $ 3,034,500 0.02% American Seafoods Group LLC, Term Loan B 3,000,000 $ 3,033,750 0.02% JBS USA LUX SA / JBS USA Finance Inc 3,123,000 $ 3,029,310 0.02% Crescent Communities LLC/Crescent Ventures Inc 2,847,000 $ 3,024,938 0.02% QEP Resources Inc 3,050,000 $ 3,011,875 0.02% Sprint Corp 2,685,000 $ 3,000,488 0.02% Frontier Communications Corp 3,885,000 $ 2,982,942 0.02% Asurion LLC, Term Loan B2 2,850,000 $ 2,940,858 0.02% Beazer Homes USA Inc 2,645,000 $ 2,939,124 0.02% Ahern Rentals Inc 3,195,000 $ 2,923,425 0.02% Navient Corp 2,695,000 $ 2,919,022 0.02% Americold Realty Operating Partnership LP, Term Loan B 2,871,042 $ 2,903,341 0.02% Cemex SAB de CV 2,750,000 $ 2,894,375 0.02% CTI Foods Holding Co LLC, Term Loan 3,360,000 $ 2,889,600 0.02%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS AK Steel Corp 2,660,000 $ 2,876,125 0.02% Equinix Inc 2,640,000 $ 2,861,100 0.02% Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp 2,800,000 $ 2,859,500 0.02% Altice Financing SA 2,710,000 $ 2,856,611 0.02% Allison Transmission Inc 2,740,000 $ 2,856,450 0.02% ACCO Brands Corp 2,740,000 $ 2,839,325 0.02% HBC Holdings LLC, Term Loan B 2,913,750 $ 2,826,338 0.02% Constellation Merger Sub Inc 2,830,000 $ 2,815,850 0.02% United States Steel Corp 2,775,000 $ 2,814,891 0.02% ABB Con-Cise Optical Group LLC, Term Loan B 2,772,000 $ 2,796,255 0.02% Flex Acquisition Co Inc 2,700,000 $ 2,791,125 0.02% 1011778 BC ULC / New Red Finance Inc 2,715,000 $ 2,765,906 0.02% Altice Financing SA 2,660,000 $ 2,753,100 0.02% AMC Networks Inc 2,745,000 $ 2,741,569 0.02% TMS International Corp 2,620,000 $ 2,731,350 0.02% Gulfport Energy Corp 2,685,000 $ 2,725,275 0.02% Taseko Mines Ltd 2,685,000 $ 2,725,275 0.02% T-Mobile USA Inc 2,575,000 $ 2,696,540 0.02% Boise Cascade Co 2,575,000 $ 2,678,000 0.02% Vale Overseas Ltd 2,320,000 $ 2,673,220 0.02% SandRidge Energy Inc 140,499 $ 2,637,166 0.02% CHS/Community Health Systems Inc 2,700,000 $ 2,625,750 0.02% Academy Ltd, Term Loan B 3,546,112 $ 2,607,208 0.02% Tutor Perini Corp 2,410,000 $ 2,599,788 0.02% Ziggo Bond Finance BV 2,555,000 $ 2,599,713 0.02% Ultra Resources Inc 2,540,000 $ 2,565,400 0.02% McGraw-Hill Global Education Holdings LLC, Term Loan 2,567,500 $ 2,560,542 0.02% GW Honos Security Corp 2,400,000 $ 2,556,000 0.02% BI-LO LLC / BI-LO Finance Corp 2,785,000 $ 2,541,313 0.02% Carrols Restaurant Group Inc 2,400,000 $ 2,535,000 0.02% EP Energy LLC / Everest Acquisition Finance Inc 2,445,000 $ 2,493,900 0.02% Alliance Resource Operating Partners LP / Alliance Resource Finance Corp 2,330,000 $ 2,461,063 0.02% Catlin Insurance Co Ltd 2,520,000 $ 2,387,700 0.02% CIT Group Inc 2,285,000 $ 2,367,831 0.02% Summit Midstream Holdings LLC / Summit Midstream Finance Corp 2,320,000 $ 2,366,400 0.02% Precision Drilling Corp 2,550,000 $ 2,365,125 0.02% Kinetic Concepts Inc / KCI USA Inc 2,250,000 $ 2,345,625 0.02% Archrock Partners LP / Archrock Partners Finance Corp 2,360,000 $ 2,345,250 0.02% Netflix Inc 2,385,000 $ 2,338,791 0.02% Intelsat Jackson Holdings SA 2,205,000 $ 2,337,300 0.02% Intrawest Resorts Holdings Inc, Term Loan B1 2,305,894 $ 2,328,953 0.02%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS CrownRock LP / CrownRock Finance Inc 2,290,000 $ 2,325,220 0.02% Halcon Resources Corp 2,270,000 $ 2,321,075 0.02% Vector Group Ltd 2,230,000 $ 2,313,625 0.02% MEG Energy Corp 2,300,000 $ 2,288,500 0.02% Freeport-McMoRan Inc 2,060,000 $ 2,253,372 0.02% Altice US Finance I Corp 2,140,000 $ 2,225,600 0.02% Lions Gate Entertainment Corp 2,065,000 $ 2,188,900 0.02% SolarWinds Holdings Inc, Term Loan 2,172,583 $ 2,185,857 0.02% International Game Technology PLC 1,940,000 $ 2,177,650 0.02% Prestige Brands Inc, Term Loan B4 2,165,793 $ 2,177,640 0.02% Wind Tre SpA 2,155,000 $ 2,168,982 0.02% Clearwater Seafoods Inc 2,045,000 $ 2,162,588 0.02% Consolidated Energy Finance SA 2,106,000 $ 2,142,855 0.02% Chesapeake Energy Corp 2,120,000 $ 2,120,000 0.02% Team Health Holdings Inc 2,285,000 $ 2,102,200 0.02% iStar Inc 2,000,000 $ 2,092,500 0.02% Extraction Oil & Gas Inc 1,960,000 $ 2,087,400 0.02% NOVA Chemicals Corp 2,040,000 $ 2,080,800 0.02% Albertsons Cos LLC / Safeway Inc / New Albertson's Inc / Albertson's LLC 2,150,000 $ 2,021,000 0.02% Centene Corp 1,880,000 $ 2,021,000 0.02% Panda Liberty LLC, Term Loan B1 2,263,162 $ 2,001,767 0.02% Weatherford International Ltd 1,775,000 $ 1,899,250 0.02% Prime Security Services Borrower LLC, Term Loan B 1,845,737 $ 1,860,835 0.02% Penn National Gaming Inc 1,770,000 $ 1,831,950 0.01% Lions Gate Entertainment Corp, Term Loan B 1,801,438 $ 1,813,831 0.01% BMC East LLC 1,725,000 $ 1,806,938 0.01% American Equity Investment Life Holding Co 1,705,000 $ 1,789,080 0.01% Scientific Games International Inc 1,730,000 $ 1,788,388 0.01% Lamb Weston Holdings Inc 1,695,000 $ 1,781,869 0.01% Bombardier Inc 1,675,000 $ 1,729,438 0.01% Avolon TLB Borrower 1 US LLC, Term Loan B2 1,690,763 $ 1,703,342 0.01% JPMorgan Chase & Co 1,680,000 $ 1,664,922 0.01% Sprint Communications Inc 1,550,000 $ 1,644,938 0.01% Kloeckner Pentaplast of America Inc, Term Loan B 1,595,000 $ 1,606,293 0.01% First Quantum Minerals Ltd 1,400,000 $ 1,482,250 0.01% HCA Inc 1,370,000 $ 1,443,638 0.01% Compiler Finance Sub Inc 1,379,000 $ 1,396,238 0.01% AMC Networks Inc 1,365,000 $ 1,390,594 0.01% WPX Energy Inc 1,375,000 $ 1,380,156 0.01% Park Aerospace Holdings Ltd 1,330,000 $ 1,379,875 0.01% Seven Generations Energy Ltd 1,365,000 $ 1,378,650 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Carrizo Oil & Gas Inc 1,265,000 $ 1,363,038 0.01% Tenet Healthcare Corp 1,295,000 $ 1,362,988 0.01% Tenet Healthcare Corp 1,385,000 $ 1,362,494 0.01% CenturyLink Inc 1,265,000 $ 1,344,063 0.01% FMG Resources August 2006 Pty Ltd 1,280,000 $ 1,316,800 0.01% CenturyLink Inc 1,320,000 $ 1,287,000 0.01% Chaparral Energy Inc - B Shares 53,185 $ 1,273,781 0.01% First Quantum Minerals Ltd 1,201,000 $ 1,255,045 0.01% Asurion LLC, Term Loan B5 1,236,892 $ 1,246,948 0.01% Chesapeake Energy Corp 1,270,000 $ 1,224,756 0.01% EP Energy LLC / Everest Acquisition Finance Inc 1,440,000 $ 1,209,154 0.01% West Corp 1,240,000 $ 1,204,350 0.01% Bombardier Inc 1,180,000 $ 1,178,525 0.01% AssuredPartners Inc 1,110,000 $ 1,157,175 0.01% AK Steel Corp 1,170,000 $ 1,152,450 0.01% Sunoco LP / Sunoco Finance Corp 1,065,000 $ 1,131,563 0.01% West Corp, Term Loan 1,093,535 $ 1,095,591 0.01% Weatherford International Ltd 1,200,000 $ 1,086,000 0.01% AK Steel Corp 1,030,000 $ 1,068,625 0.01% Aleris International Inc 1,000,000 $ 1,066,250 0.01% Valeant Pharmaceuticals International Inc 1,135,000 $ 1,034,269 0.01% Garda World Security Corp, Term Loan B 1,022,617 $ 1,030,542 0.01% Park Aerospace Holdings Ltd 880,000 $ 915,200 0.01% Southwestern Energy Co 880,000 $ 915,200 0.01% Valeant Pharmaceuticals International Inc 895,000 $ 915,138 0.01% 9089969 Canada Inc, Term Loan A2 894,637 $ 894,637 0.01% GTT Communications Inc, Term Loan B 835,829 $ 841,053 0.01% EP Energy LLC / Everest Acquisition Finance Inc 1,125,000 $ 832,500 0.01% Dynegy Inc 740,000 $ 821,400 0.01% AK Steel Corp 805,000 $ 811,038 0.01% MPT Operating Partnership LP / MPT Finance Corp 745,000 $ 805,531 0.01% Valeant Pharmaceuticals International 780,000 $ 755,625 0.01% Kinetic Concepts Inc, Term Loan B 743,138 $ 742,023 0.01% Sprint Corp 650,000 $ 712,563 0.01% Opal Acquisition Inc 715,000 $ 689,975 0.01% Post Holdings Inc, Term Loan B 683,288 $ 686,581 0.01% Northwest Acquisitions ULC / Dominion Finco Inc 660,000 $ 681,450 0.01% Teck Resources Ltd 645,000 $ 651,050 0.01% Mirabela Nickel Ltd 6,966,176 $ 626,956 0.01% Aleris International Inc 585,000 $ 583,877 0.00% Frontier Communications Corp 660,000 $ 575,850 0.00%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Radiate Holdco LLC, Term Loan 562,175 $ 555,693 0.00% Titan Energy LLC 133,081 $ 512,362 0.00% IAMGOLD Corp 435,000 $ 456,750 0.00% Golden Nugget Inc/NV, Term Loan 319,193 $ 322,341 0.00% Cengage Learning Holdings II Inc 34,465 $ 284,336 0.00% j2 Cloud Services LLC / j2 Global Co-Obligor Inc 210,000 $ 221,025 0.00% Milagro Oil & Gas Inc 1,874 $ 189,274 0.00% Comstock Resources Inc - Warrants 28,875 $ 129,938 0.00% Post Holdings Inc 125,000 $ 129,844 0.00% Targus Group International Inc 75,881 $ 68,293 0.00% Chaparral Energy Inc - A Shares 1,934 $ 46,319 0.00% NANA Development Corp, Term Loan B 45,370 $ 44,463 0.00% SandRidge Energy Inc 3,450,000 $ - 0.00% Mirabela Nickel Ltd 142,025 $ - 0.00% Cleveland Unlimited Inc 0 $ - 0.00% CenturyLink Inc, Bridge Term Loan -3,000,000 $ - 0.00% Radiate Holdco LLC, Bridge Term Loan -3,000,000 $ - 0.00% Beacon Roofing Supply Inc, Bridge Term Loan -2,400,000 $ - 0.00% Centene Corp, Bridge Term Loan -2,800,000 $ - 0.00% Targus Group International Inc, PIK Term Loan B 879,714 $ - 0.00% Williams Scotsman Inc, Term Loan -2,700,000 $ - 0.00%

Total High Yield-PGI $ 725,347,937 5.88%

High Yield-Post Morgan Stanley Institutional Liquidity Funds - Government Portfolio 35,718,501 $ 35,718,501 0.29% Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 16,887,000 $ 17,984,655 0.15% Infor US Inc 15,958,000 $ 16,636,215 0.13% RegionalCare Hospital Partners Holdings Inc 15,550,000 $ 16,327,500 0.13% Sophia LP / Sophia Finance Inc 13,075,000 $ 13,565,313 0.11% HRG Group Inc 12,559,000 $ 13,124,155 0.11% Asurion LLC, Term Loan B2 12,000,000 $ 12,382,560 0.10% HUB International Ltd 10,719,000 $ 11,156,657 0.09% SFR Group SA 10,325,000 $ 11,099,375 0.09% Team Health Holdings Inc 12,000,000 $ 11,040,000 0.09% AssuredPartners Inc 10,350,000 $ 10,789,875 0.09% Prime Security Services Borrower LLC / Prime Finance Inc 9,600,000 $ 10,638,720 0.09% ASP AMC Merger Sub Inc 10,800,000 $ 10,476,000 0.08% Alliance Data Systems Corp 9,545,000 $ 9,735,900 0.08% NFP Corp 9,150,000 $ 9,516,000 0.08% Eagle Holding Co II LLC 9,000,000 $ 9,281,250 0.08% DAE Funding LLC 7,925,000 $ 8,093,406 0.07%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS SS&C Technologies Holdings Inc 7,498,000 $ 7,919,763 0.06% Hughes Satellite Systems Corp 7,000,000 $ 7,822,500 0.06% Sprint Corp 7,000,000 $ 7,566,580 0.06% AMC Entertainment Holdings Inc 7,745,000 $ 7,561,056 0.06% UPC Holding BV 7,500,000 $ 7,462,500 0.06% ViaSat Inc 7,200,000 $ 7,281,000 0.06% Aleris International Inc 6,825,000 $ 7,277,156 0.06% CommScope Technologies LLC 6,825,000 $ 7,208,906 0.06% AMC Networks Inc 6,850,000 $ 6,978,438 0.06% USIS Merger Sub Inc 6,685,000 $ 6,935,688 0.06% International Game Technology PLC 6,278,000 $ 6,903,917 0.06% Informatica LLC 6,767,000 $ 6,885,423 0.06% Surgery Center Holdings Inc 6,655,000 $ 6,804,738 0.06% CCO Holdings LLC / CCO Holdings Capital Corp 6,000,000 $ 6,255,000 0.05% Genesys Telecommunications Laboratories Inc/Greeneden Lux 3 Sarl 5,500,000 $ 6,208,125 0.05% DaVita Inc 6,000,000 $ 6,015,000 0.05% CRC Escrow Issuer LLC / CRC Finco Inc 5,875,000 $ 5,913,481 0.05% Station Casinos LLC 5,775,000 $ 5,782,219 0.05% Virgin Media Finance PLC 5,475,000 $ 5,735,063 0.05% LKQ Corp 5,450,000 $ 5,599,875 0.05% TransDigm Inc 5,375,000 $ 5,549,688 0.05% 1011778 BC ULC / New Red Finance Inc 5,375,000 $ 5,475,781 0.04% BJ's Wholesale Club Inc, Term Loan B 5,585,965 $ 5,439,333 0.04% Tenet Healthcare Corp 5,575,000 $ 5,428,656 0.04% Lincoln Finance Ltd 5,050,000 $ 5,340,375 0.04% NVA Holdings Inc/United States, Term Loan 5,295,635 $ 5,328,732 0.04% Reliance Intermediate Holdings LP 4,750,000 $ 5,035,000 0.04% Aleris International Inc 4,687,000 $ 4,678,001 0.04% Extraction Oil & Gas Inc / Extraction Finance Corp 4,400,000 $ 4,664,000 0.04% Vector Group Ltd 4,425,000 $ 4,590,938 0.04% Ziggo Secured Finance BV 4,500,000 $ 4,590,000 0.04% Post Holdings Inc 4,300,000 $ 4,482,750 0.04% T-Mobile USA Inc 4,025,000 $ 4,306,750 0.03% TransDigm Inc 4,000,000 $ 4,150,000 0.03% Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 4,125,000 $ 4,109,531 0.03% TransDigm Inc 3,950,000 $ 4,019,125 0.03% Sirius XM Radio Inc 3,750,000 $ 4,003,125 0.03% Jaguar Holding Co II / Pharmaceutical Product Development LLC 3,700,000 $ 3,861,875 0.03% Provident Funding Associates LP / PFG Finance Corp 3,625,000 $ 3,833,438 0.03% Unitymedia GmbH 3,525,000 $ 3,755,535 0.03% US Foods Inc 3,485,000 $ 3,681,031 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Extraction Oil & Gas Inc 3,400,000 $ 3,621,000 0.03% Park Aerospace Holdings Ltd 3,450,000 $ 3,579,375 0.03% DISH DBS Corp 3,650,000 $ 3,531,375 0.03% Midcontinent Communications / Midcontinent Finance Corp 3,200,000 $ 3,432,000 0.03% Ultra Resources Inc 3,375,000 $ 3,408,750 0.03% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / Reynolds Group 3,250,000 $ 3,383,575 0.03% Issuer (Luxembourg) S.A. Gulfport Energy Corp 3,366,000 $ 3,366,000 0.03% Novelis Corp 3,175,000 $ 3,349,625 0.03% Six Flags Entertainment Corp 3,225,000 $ 3,317,719 0.03% Callon Petroleum Co 3,026,000 $ 3,147,040 0.03% Sirius XM Radio Inc 3,100,000 $ 3,127,125 0.03% Tenet Healthcare Corp 3,225,000 $ 3,027,469 0.02% Holly Energy Partners LP / Holly Energy Finance Corp 2,875,000 $ 3,011,563 0.02% MPH Acquisition Holdings LLC 2,750,000 $ 2,959,688 0.02% Tenet Healthcare Corp 3,000,000 $ 2,951,250 0.02% Ascend Learning LLC 2,775,000 $ 2,906,813 0.02% Antero Resources Corp 2,800,000 $ 2,877,000 0.02% Jefferies LoanCore LLC / JLC Finance Corp 2,775,000 $ 2,872,125 0.02% CCO Holdings LLC / CCO Holdings Capital Corp 2,525,000 $ 2,689,125 0.02% Envision Healthcare Corp 2,500,000 $ 2,596,875 0.02% Antero Resources Corp 2,525,000 $ 2,591,281 0.02% CrownRock LP / CrownRock Finance Inc 2,550,000 $ 2,589,219 0.02% Alliance Data Systems Corp 2,500,000 $ 2,587,500 0.02% Jonah Energy LLC / Jonah Energy Finance Corp 2,575,000 $ 2,575,000 0.02% Change Healthcare Holdings LLC / Change Healthcare Finance Inc 2,500,000 $ 2,556,250 0.02% Netflix Inc 2,525,000 $ 2,509,724 0.02% Ziggo Bond Finance BV 2,430,000 $ 2,499,863 0.02% Post Holdings Inc 2,450,000 $ 2,462,250 0.02% AMC Entertainment Holdings Inc 2,480,000 $ 2,455,200 0.02% DaVita Inc 2,475,000 $ 2,437,875 0.02% Cinemark USA Inc 2,350,000 $ 2,394,063 0.02% ESH Hospitality Inc 2,250,000 $ 2,325,938 0.02% Level 3 Financing Inc 2,100,000 $ 2,149,875 0.02% Parsley Energy LLC / Parsley Finance Corp 2,075,000 $ 2,141,151 0.02% Pinnacle Foods Finance LLC / Pinnacle Foods Finance Corp 2,000,000 $ 2,130,000 0.02% KAR Auction Services Inc 2,050,000 $ 2,121,750 0.02% Regal Entertainment Group 2,000,000 $ 2,077,500 0.02% Netflix Inc 1,860,000 $ 1,992,525 0.02% Tenet Healthcare Corp 2,150,000 $ 1,969,938 0.02% Prestige Brands Inc 1,910,000 $ 1,969,092 0.02% CSC Holdings LLC 1,975,000 $ 1,966,359 0.02%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS TreeHouse Foods Inc 1,800,000 $ 1,926,000 0.02% 1011778 BC ULC / New Red Finance Inc 1,800,000 $ 1,812,960 0.01% Sprint Capital Corp 1,675,000 $ 1,787,016 0.01% CSVC Acquisition Corp 1,750,000 $ 1,706,250 0.01% PTC Inc 1,500,000 $ 1,627,425 0.01% First Data Corp 1,500,000 $ 1,561,875 0.01% MGM Growth Properties Operating Partnership LP / MGP Finance 1,440,000 $ 1,555,200 0.01% Co-Issuer Inc Catalent Pharma Solutions Inc 1,525,000 $ 1,547,875 0.01% Wind Tre SpA 1,525,000 $ 1,534,894 0.01% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / Reynolds Group 1,500,000 $ 1,530,000 0.01% Issuer (Luxembourg) S.A. ServiceMaster Co LLC/The 1,475,000 $ 1,519,250 0.01% Antero Resources Corp 1,475,000 $ 1,497,125 0.01% Hanesbrands Inc 1,425,000 $ 1,464,188 0.01% Zayo Group LLC / Zayo Capital Inc 1,350,000 $ 1,419,188 0.01% UPCB Finance IV Ltd 1,275,000 $ 1,303,688 0.01% Gulfport Energy Corp 1,225,000 $ 1,243,375 0.01% American Equity Investment Life Holding Co 1,150,000 $ 1,206,711 0.01% SP Finco LLC 1,230,000 $ 1,122,375 0.01% First Data Corp 1,000,000 $ 1,038,750 0.01% AMC Networks Inc 875,000 $ 873,906 0.01% Tenet Healthcare Corp 600,000 $ 630,000 0.01% PDC Energy Inc 600,000 $ 626,250 0.01% Tenet Healthcare Corp 100,000 $ 105,250 0.00% Itron Inc, Term Loan -2,000,000 $ - 0.00%

Total High Yield-Post $ 602,303,562 4.89%

High Yield-Stone Harbor Tesco PLC 3,900,000 $ 5,993,443 0.05% Altice Luxembourg SA 4,700,000 $ 5,830,654 0.05% Matterhorn Telecom Holding SA 4,595,000 $ 5,530,935 0.04% Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc 4,000,000 $ 5,212,217 0.04% Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH 3,900,000 $ 5,173,242 0.04% SFR Group SA 4,000,000 $ 5,066,909 0.04% XPO Logistics Inc 4,162,000 $ 5,008,576 0.04% Cott Corp 3,900,000 $ 4,990,435 0.04% Telefonica Europe BV 4,000,000 $ 4,954,068 0.04% SIG Combibloc Holdings SCA 4,000,000 $ 4,915,665 0.04% Valeant Pharmaceuticals International Inc 4,800,000 $ 4,749,287 0.04% VWR Funding Inc 3,900,000 $ 4,726,692 0.04% Axalta Coating Systems Dutch Holding B BV 3,700,000 $ 4,625,500 0.04%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS eircom Finance DAC 3,800,000 $ 4,609,771 0.04% Synlab Bondco PLC 3,475,000 $ 4,313,326 0.03% Verallia Packaging SASU 3,400,000 $ 4,185,737 0.03% WMG Acquisition Corp 3,273,000 $ 4,042,831 0.03% Telecom Italia SpA/Milano 3,000,000 $ 4,002,341 0.03% Casino Guichard Perrachon SA 3,000,000 $ 3,949,357 0.03% Ziggo Bond Finance BV 3,000,000 $ 3,730,431 0.03% Loxam SAS 2,900,000 $ 3,691,041 0.03% Silgan Holdings Inc 3,000,000 $ 3,630,486 0.03% Quintiles IMS Inc 3,000,000 $ 3,617,382 0.03% Virgin Media Finance PLC 2,500,000 $ 3,595,786 0.03% Ball Corp 2,600,000 $ 3,474,571 0.03% thyssenkrupp AG 2,900,000 $ 3,458,894 0.03% Schumann SpA 2,875,000 $ 3,428,781 0.03% Grifols SA 2,900,000 $ 3,428,735 0.03% UPC Holding BV 3,000,000 $ 3,377,481 0.03% Leonardo SpA 2,200,000 $ 3,188,806 0.03% Boparan Finance PLC 2,350,000 $ 2,953,454 0.02% ProGroup AG 2,400,000 $ 2,922,840 0.02% Equinix Inc 2,400,000 $ 2,867,263 0.02% IHO Verwaltungs GmbH 2,200,000 $ 2,687,727 0.02% Telenet Finance V Luxembourg SCA 2,100,000 $ 2,648,483 0.02% Adient Global Holdings Ltd 2,100,000 $ 2,582,559 0.02% Telenet Finance VI Luxembourg SCA 2,000,000 $ 2,574,911 0.02% WEPA Hygieneprodukte GmbH 2,100,000 $ 2,552,960 0.02% Enel SpA 2,000,000 $ 2,539,372 0.02% Netflix Inc 2,100,000 $ 2,510,396 0.02% PSPC Escrow Corp 2,050,000 $ 2,507,339 0.02% Altice Finco SA 2,100,000 $ 2,470,597 0.02% Smurfit Kappa Acquisitions ULC 2,000,000 $ 2,454,571 0.02% ArcelorMittal 1,900,000 $ 2,404,985 0.02% INEOS Group Holdings SA 1,900,000 $ 2,398,580 0.02% Avantor Inc 2,000,000 $ 2,376,314 0.02% Wind Acquisition Finance SA 1,950,000 $ 2,355,614 0.02% Wind Tre SpA 2,000,000 $ 2,340,183 0.02% Telecom Italia SpA/Milano 1,750,000 $ 2,278,498 0.02% Solvay Finance SA 1,600,000 $ 2,250,489 0.02% Ziggo Bond Co BV 1,675,000 $ 2,195,989 0.02% AMC Entertainment Holdings Inc 1,600,000 $ 2,182,407 0.02% Crown European Holdings SA 1,700,000 $ 2,110,853 0.02% Altice Financing SA 1,700,000 $ 2,079,256 0.02%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Moy Park BondCo PLC 1,500,000 $ 2,057,940 0.02% Fiat Chrysler Finance Europe SA 1,400,000 $ 1,877,029 0.02% CMA CGM SA 1,400,000 $ 1,753,099 0.01% Gates Global LLC, Term Loan B1 1,492,500 $ 1,750,795 0.01% Rexel SA 1,400,000 $ 1,715,590 0.01% Nidda Healthcare Holding AG 1,400,000 $ 1,669,276 0.01% Repsol International Finance BV 1,250,000 $ 1,623,349 0.01% Fiat Chrysler Finance Europe SA 1,200,000 $ 1,571,417 0.01% Nidda BondCo GmbH 1,300,000 $ 1,552,627 0.01% Virgin Media Finance PLC 1,100,000 $ 1,549,523 0.01% Unilabs Subholding AB 1,200,000 $ 1,442,204 0.01% Enel SpA 943,000 $ 1,418,965 0.01% Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH 1,093,500 $ 1,323,465 0.01% Smurfit Kappa Acquisitions ULC 1,000,000 $ 1,265,493 0.01% Repsol International Finance BV 1,000,000 $ 1,261,940 0.01% Catalent Pharma Solutions Inc 1,000,000 $ 1,256,994 0.01% Nyrstar Netherlands Holdings BV 1,000,000 $ 1,243,947 0.01% Virgin Media Secured Finance PLC 900,000 $ 1,242,776 0.01% Premier Foods Finance PLC 900,000 $ 1,222,146 0.01% Gas Natural Fenosa Finance BV 1,000,000 $ 1,212,026 0.01% OI European Group BV 900,000 $ 1,198,406 0.01% EC Finance PLC 1,000,000 $ 1,189,603 0.01% International Game Technology PLC 900,000 $ 1,182,031 0.01% Refresco Group NV, Term Loan B 1,000,000 $ 1,169,031 0.01% Douglas GmbH, Term Loan B8 1,000,000 $ 1,165,583 0.01% Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc 800,000 $ 1,082,066 0.01% TA MFG. Ltd 853,000 $ 1,026,178 0.01% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 953,927 $ 953,927 0.01% Aramark International Finance Sarl 700,000 $ 850,864 0.01% La Financiere Atalian SAS 650,000 $ 795,010 0.01% Iron Mountain UK PLC 700,000 $ 700,000 0.01% Europcar Drive Designated Activity Co 550,000 $ 657,221 0.01% Bibby Offshore Services PLC 1,300,000 $ 596,536 0.00% Catalent Pharma Solution 200,000 $ 243,162 0.00%

Total High Yield-Stone Harbor $ 232,569,241 1.89%

Master Limited Partnerships/Other Ginnie Mae II Pool 40,000,000 $ 41,498,436 0.34% Fannie Mae Pool 25,000,000 $ 26,240,235 0.21% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 20,424,190 $ 20,424,190 0.17% Fannie Mae Pool 17,259,190 $ 17,841,883 0.14%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Fannie Mae Pool 14,124,897 $ 14,177,287 0.12% Fannie Mae Pool 12,714,752 $ 13,158,317 0.11% Ginnie Mae II Pool 11,657,502 $ 12,295,541 0.10% Freddie Mac Gold Pool 11,521,365 $ 12,148,617 0.10% Ginnie Mae I Pool 10,000,000 $ 10,635,938 0.09% Ginnie Mae II Pool 10,000,000 $ 10,600,000 0.09% Ginnie Mae II Pool 10,000,000 $ 10,500,000 0.09% Fannie Mae Pool 10,000,000 $ 10,246,875 0.08% Fannie Mae Pool 10,086,316 $ 10,135,245 0.08% Fannie Mae Pool 9,595,660 $ 10,118,643 0.08% Fannie Mae Pool 10,043,581 $ 10,080,832 0.08% Drive Auto Receivables Trust 2017-2 10,000,000 $ 10,000,832 0.08% Fannie Mae Pool 9,129,974 $ 9,453,292 0.08% Fannie Mae Pool 8,708,382 $ 9,430,734 0.08% Fannie Mae Pool 8,617,492 $ 8,933,548 0.07% Fannie Mae Pool 8,624,255 $ 8,871,796 0.07% Nissan Auto Lease Trust 2017-A 8,500,000 $ 8,506,781 0.07% Ginnie Mae II Pool 7,953,900 $ 8,405,561 0.07% World Financial Network Credit Card Master Trust 8,295,000 $ 8,309,009 0.07% Fannie Mae Pool 7,402,545 $ 8,032,582 0.07% Fannie Mae REMICS 31,369,609 $ 7,242,145 0.06% Ginnie Mae 32,615,324 $ 7,065,856 0.06% Ginnie Mae I Pool 6,636,962 $ 6,946,620 0.06% Fannie Mae Connecticut Avenue Securities 6,719,398 $ 6,790,528 0.06% Fannie Mae REMICS 28,417,663 $ 6,710,436 0.05% Ginnie Mae 28,932,715 $ 6,681,386 0.05% Fannie Mae REMICS 30,108,682 $ 6,639,994 0.05% Freddie Mac REMICS 30,249,997 $ 6,597,322 0.05% Dell Equipment Finance Trust 2017-1 6,500,000 $ 6,500,230 0.05% Navient Student Loan Trust 2017-4 6,369,322 $ 6,368,950 0.05% Navient Private Education Loan Trust 2015-C 6,169,356 $ 6,213,835 0.05% Ginnie Mae 29,300,123 $ 6,149,984 0.05% Fannie Mae REMICS 27,376,091 $ 6,132,452 0.05% SoFi Professional Loan Program 2017-E LLC 6,000,000 $ 6,003,005 0.05% Dell Equipment Finance Trust 2017-2 6,000,000 $ 6,000,013 0.05% Fannie Mae Pool 5,452,732 $ 5,977,408 0.05% Fannie Mae REMICS 26,805,742 $ 5,976,498 0.05% Drive Auto Receivables Trust 2017-1 5,945,374 $ 5,947,537 0.05% Fannie Mae REMICS 21,654,895 $ 5,635,182 0.05% Freddie Mac Gold Pool 5,065,234 $ 5,603,655 0.05% Ginnie Mae 22,343,231 $ 5,446,245 0.04%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Ginnie Mae 26,012,473 $ 5,341,482 0.04% Ginnie Mae 25,422,756 $ 5,158,120 0.04% Ginnie Mae 24,028,844 $ 5,044,205 0.04% Fannie Mae Pool 4,315,912 $ 4,816,858 0.04% Ginnie Mae 19,919,944 $ 4,802,045 0.04% Fannie Mae REMICS 21,768,695 $ 4,788,852 0.04% Fannie Mae REMICS 21,239,368 $ 4,754,108 0.04% Fannie Mae Pool 4,519,684 $ 4,746,263 0.04% Ginnie Mae I Pool 4,431,588 $ 4,740,189 0.04% Ginnie Mae 21,594,693 $ 4,619,535 0.04% Fannie Mae Pool 4,225,384 $ 4,571,414 0.04% Fannie Mae REMICS 19,616,107 $ 4,531,087 0.04% Ginnie Mae 18,937,422 $ 4,517,437 0.04% Ginnie Mae 19,798,717 $ 4,505,002 0.04% Ginnie Mae 24,499,075 $ 4,444,463 0.04% Fannie Mae REMICS 22,122,213 $ 4,441,311 0.04% Freddie Mac Structured Agency Credit Risk Debt Notes 4,235,630 $ 4,388,956 0.04% Ginnie Mae 19,820,309 $ 4,340,792 0.04% Ginnie Mae 20,727,454 $ 4,321,774 0.04% Ginnie Mae 21,092,823 $ 4,317,937 0.04% Ginnie Mae 17,934,024 $ 4,311,743 0.03% Hertz Fleet Lease Funding LP 4,250,000 $ 4,257,075 0.03% Ginnie Mae 18,864,854 $ 4,238,376 0.03% Ginnie Mae 19,408,648 $ 4,216,401 0.03% Fannie Mae Pool 3,882,936 $ 4,173,667 0.03% Ginnie Mae 18,140,881 $ 4,114,843 0.03% Navient Student Loan Trust 2017-3 4,047,345 $ 4,052,460 0.03% Ginnie Mae 15,113,053 $ 4,043,630 0.03% Freddie Mac Gold Pool 3,893,664 $ 4,007,546 0.03% Fannie Mae REMICS 20,424,937 $ 3,787,453 0.03% Ginnie Mae 17,425,258 $ 3,754,463 0.03% Ginnie Mae 15,575,952 $ 3,743,719 0.03% Ginnie Mae 17,806,203 $ 3,635,119 0.03% Ginnie Mae 30,586,596 $ 3,634,113 0.03% Ginnie Mae 24,059,724 $ 3,628,647 0.03% Fannie Mae REMICS 17,470,359 $ 3,588,225 0.03% Ginnie Mae 18,041,765 $ 3,548,808 0.03% Ginnie Mae 21,888,589 $ 3,489,221 0.03% Fannie Mae REMICS 18,780,831 $ 3,450,565 0.03% Ginnie Mae 20,135,381 $ 3,421,470 0.03% Ginnie Mae 21,454,682 $ 3,406,991 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Ginnie Mae 14,714,487 $ 3,402,349 0.03% Ginnie Mae 18,032,907 $ 3,359,949 0.03% Freddie Mac Structured Agency Credit Risk Debt Notes 3,334,880 $ 3,339,101 0.03% Fannie Mae REMICS 19,433,327 $ 3,280,297 0.03% Ginnie Mae 15,059,512 $ 3,272,241 0.03% Fannie Mae REMICS 16,431,329 $ 3,263,055 0.03% GM Financial Automobile Leasing Trust 2016-3 3,224,039 $ 3,225,526 0.03% Enterprise Fleet Financing LLC 3,205,232 $ 3,204,559 0.03% Ginnie Mae 13,906,435 $ 3,174,375 0.03% Ginnie Mae 17,768,264 $ 3,170,546 0.03% Ginnie Mae 16,277,101 $ 3,147,051 0.03% Ginnie Mae 14,639,193 $ 3,086,658 0.03% Freddie Mac Structured Agency Credit Risk Debt Notes 3,000,000 $ 2,999,985 0.02% Ginnie Mae 15,197,007 $ 2,972,568 0.02% Ginnie Mae 14,620,447 $ 2,925,896 0.02% Ginnie Mae 15,767,706 $ 2,789,339 0.02% Fannie Mae REMICS 16,068,879 $ 2,697,888 0.02% Freddie Mac Structured Agency Credit Risk Debt Notes 2,627,459 $ 2,686,956 0.02% World Omni Automobile Lease Securitization Trust 2016-A 2,580,869 $ 2,583,834 0.02% Ginnie Mae 10,570,880 $ 2,387,600 0.02% Ginnie Mae 10,275,606 $ 2,182,724 0.02% Ginnie Mae 9,985,705 $ 2,182,075 0.02% Ginnie Mae 9,135,564 $ 2,180,309 0.02% Freddie Mac Structured Agency Credit Risk Debt Notes 2,174,062 $ 2,178,053 0.02% Ginnie Mae II Pool 1,997,292 $ 2,118,970 0.02% Fannie Mae Pool 1,944,616 $ 2,085,466 0.02% Fannie Mae Pool 1,943,096 $ 2,042,562 0.02% Ginnie Mae 10,920,224 $ 1,977,678 0.02% Freddie Mac Structured Agency Credit Risk Debt Notes 1,786,644 $ 1,789,368 0.01% Ginnie Mae 10,286,602 $ 1,788,424 0.01% Fannie Mae REMICS 7,818,578 $ 1,636,168 0.01% Ginnie Mae 9,253,571 $ 1,595,309 0.01% SMB Private Education Loan Trust 2016-B 1,511,428 $ 1,513,546 0.01% Ginnie Mae 6,000,000 $ 1,485,000 0.01% Ginnie Mae 6,382,452 $ 1,312,178 0.01% AmeriCredit Automobile Receivables Trust 2016-3 1,193,042 $ 1,193,754 0.01% Ginnie Mae 7,057,765 $ 1,085,981 0.01% Ginnie Mae II Pool 1,000,000 $ 1,060,922 0.01% Ginnie Mae II Pool 998,644 $ 1,059,483 0.01% Freddie Mac Structured Agency Credit Risk Debt Notes 1,044,007 $ 1,046,220 0.01% Ginnie Mae II Pool 945,671 $ 1,002,870 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Ginnie Mae 3,681,222 $ 954,283 0.01% GM Financial Automobile Leasing Trust 2016-2 896,700 $ 897,404 0.01% Ginnie Mae II Pool 780,941 $ 828,063 0.01% Ginnie Mae 3,466,045 $ 584,714 0.00% Fannie Mae REMICS 2,587,786 $ 485,037 0.00% Capital Auto Receivables Asset Trust 2016-2 449,372 $ 449,457 0.00% Ginnie Mae 1,987,428 $ 426,886 0.00%

Total Master Limited Partnerships/Other $ 716,484,487 5.81%

Preferred Securities Standard Chartered PLC 15,000,000 $ 16,633,500 0.13% MetLife Inc 11,000,000 $ 16,348,750 0.13% Lloyds Bank PLC 10,000,000 $ 13,512,910 0.11% Liberty Mutual Group Inc 9,861,000 $ 12,498,818 0.10% JPMorgan Chase & Co 10,000,000 $ 11,462,500 0.09% Citigroup Capital III 8,600,000 $ 11,221,190 0.09% Barclays PLC 10,000,000 $ 11,151,240 0.09% Centaur Funding Corp 9,000 $ 10,389,375 0.08% Royal Bank of Scotland Group PLC 7,000,000 $ 7,926,800 0.06% AIG Life Holdings Inc 5,400,000 $ 7,317,000 0.06% Credit Agricole SA 6,000,000 $ 6,832,500 0.06% Societe Generale SA 6,000,000 $ 6,615,000 0.05% Prologis Inc 92,034 $ 6,453,424 0.05% HSBC Capital Funding Dollar 1 LP 4,000,000 $ 6,392,480 0.05% Dresdner Funding Trust I 4,500,000 $ 5,857,596 0.05% Catlin Insurance Co Ltd 6,150,000 $ 5,827,125 0.05% CoBank ACB 51,000 $ 5,482,500 0.04% Nordea Bank AB 5,000,000 $ 5,456,250 0.04% Royal Bank of Scotland Group PLC 5,000,000 $ 5,357,500 0.04% BNSF Funding Trust I 4,610,000 $ 5,327,777 0.04% Wells Fargo & Co 4,046 $ 5,300,260 0.04% BNP Paribas SA 4,400,000 $ 5,134,272 0.04% Lincoln National Corp 5,584,000 $ 5,075,856 0.04% Charles Schwab Corp/The 4,198,000 $ 4,832,948 0.04% BPCE SA 4,000,000 $ 4,717,520 0.04% PNC Financial Services Group Inc/The 4,000,000 $ 4,500,000 0.04% HSBC Holdings PLC 4,000,000 $ 4,415,000 0.04% Voya Financial Inc 4,000,000 $ 4,220,000 0.03% Capital One Financial Corp 4,000,000 $ 4,195,000 0.03% Citizens Financial Group Inc 4,000,000 $ 4,190,000 0.03% Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4,063,082 $ 4,063,082 0.03%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Lloyds Bank PLC 3,000,000 $ 4,053,873 0.03% Emera Inc 3,300,000 $ 3,778,830 0.03% AgriBank FCB 33,000 $ 3,654,750 0.03% Enterprise Products Operating LLC 3,500,000 $ 3,500,000 0.03% BNP Paribas SA 3,000,000 $ 3,465,000 0.03% Provident Financing Trust I 3,000,000 $ 3,435,000 0.03% SCE Trust V 125,000 $ 3,428,750 0.03% Bank of America Corp 3,000,000 $ 3,417,840 0.03% UBS Group AG 3,000,000 $ 3,367,500 0.03% BNP Paribas SA 3,000,000 $ 3,363,750 0.03% Valley National Bancorp 120,000 $ 3,306,000 0.03% Credit Suisse Group AG 3,000,000 $ 3,281,250 0.03% UBS Group AG 3,000,000 $ 3,270,000 0.03% Legal & General Group PLC 3,000,000 $ 3,194,088 0.03% AG Insurance SA 3,000,000 $ 3,168,150 0.03% Banco Bilbao Vizcaya Argentaria SA 3,000,000 $ 3,102,120 0.03% Enel SpA 2,500,000 $ 3,087,500 0.03% Hartford Financial Services Group Inc/The 100,000 $ 2,993,000 0.02% Hartford Financial Services Group Inc/The 3,000,000 $ 2,880,000 0.02% Great-West Life & Annuity Insurance Capital LP 2,400,000 $ 2,872,847 0.02% Fifth Third Bancorp 100,000 $ 2,849,000 0.02% Allstate Corp/The 100,000 $ 2,683,000 0.02% Entergy Louisiana LLC 99,900 $ 2,485,512 0.02% National Rural Utilities Cooperative Finance Corp 2,200,000 $ 2,375,072 0.02% Citigroup Inc 80,995 $ 2,339,946 0.02% Telephone & Data Systems Inc 91,217 $ 2,313,263 0.02% Citigroup Inc 2,000,000 $ 2,277,500 0.02% Koninklijke KPN NV 2,000,000 $ 2,272,400 0.02% Credit Suisse AG 2,000,000 $ 2,265,000 0.02% US Bancorp 2,000,000 $ 2,120,000 0.02% Credit Agricole SA 2,000,000 $ 2,102,500 0.02% Bank of New York Mellon Corp/The 2,000,000 $ 2,090,000 0.02% Wells Fargo & Co 80,727 $ 2,082,757 0.02% Banco Santander SA 2,000,000 $ 2,080,000 0.02% Transcanada Trust 1,900,000 $ 2,075,750 0.02% American International Group Inc 1,500,000 $ 2,047,500 0.02% Dominion Energy Inc 76,941 $ 1,948,916 0.02% Huntington Bancshares Inc/OH 70,000 $ 1,943,200 0.02% Alabama Power Co 75,000 $ 1,914,750 0.02% XLIT Ltd 2,100,000 $ 1,892,625 0.02% State Street Corp 65,000 $ 1,801,150 0.01%

SCHEDULE OF INVESTMENTS

ISSUER SHARES MARKET % TOTAL NET VALUE ASSETS Charles Schwab Corp/The 59,400 $ 1,628,154 0.01% Morgan Stanley 60,000 $ 1,620,000 0.01% Public Storage 57,851 $ 1,549,250 0.01% MetLife Inc 900,000 $ 1,503,000 0.01% PNC Financial Services Group Inc/The 50,000 $ 1,411,000 0.01% Standard Chartered PLC 1,150,000 $ 1,350,100 0.01% Liberty Mutual Insurance Co 946,000 $ 1,349,181 0.01% Verizon Communications Inc 50,000 $ 1,345,000 0.01% Morgan Stanley 1,250,000 $ 1,312,500 0.01% Equity Residential 20,702 $ 1,308,108 0.01% KeyCorp 40,000 $ 1,167,600 0.01% Societe Generale SA 1,000,000 $ 1,167,500 0.01% Credit Suisse Group AG 1,000,000 $ 1,162,500 0.01% Australia & New Zealand Banking Group Ltd/United Kingdom 1,000,000 $ 1,148,900 0.01% Bank of America Corp 1,000,000 $ 1,143,750 0.01% XLIT Ltd 1,200 $ 1,142,250 0.01% Dairy Farmers of America Inc 10,000 $ 1,140,000 0.01% Cooperatieve Rabobank UA 1,000,000 $ 1,135,000 0.01% Bank of Nova Scotia/The 1,100,000 $ 1,105,500 0.01% Prudential Financial Inc 1,000,000 $ 1,105,000 0.01% Societe Generale SA 1,000,000 $ 1,058,750 0.01% SunTrust Banks Inc 1,000,000 $ 1,048,750 0.01% General Motors Financial Co Inc 1,000,000 $ 1,045,000 0.01% American Express Co 1,000,000 $ 1,035,000 0.01% KeyCorp Capital III 795,000 $ 1,005,675 0.01% Goldman Sachs Group Inc/The 32,200 $ 864,570 0.01% Arch Capital Group Ltd 30,800 $ 767,228 0.01% CoBank ACB 7,000 $ 749,657 0.01% SCE Trust VI 25,000 $ 630,000 0.01% M&T Bank Corp 535,000 $ 608,563 0.00% Reinsurance Group of America Inc 20,000 $ 561,000 0.00% Entergy New Orleans Inc 20,000 $ 501,876 0.00% Public Storage 18,393 $ 496,243 0.00% Stanley Black & Decker Inc 450,000 $ 463,275 0.00% Koninklijke KPN NV 400,000 $ 454,480 0.00% DDR Corp 15,702 $ 399,459 0.00% Aviva PLC 350,000 $ 349,125 0.00% Telephone & Data Systems Inc 12,496 $ 320,272 0.00% Digital Realty Trust Inc 8,320 $ 222,061 0.00% Allstate Corp/The 100,000 $ 109,250 0.00%

Total Preferred Securities $ 379,772,786 3.08%

Total Market Value $ 12,449,578,518 101.00%

Cash -123,562,518 -1.00%

Total Net Assets $ 12,326,016,000 100.00%

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated securities are subject to additional credit and default risks. Risks associated with preferred securities differ from risks inherent with other investments . In particular, in the event of bankruptcy, a company's preferred securities are senior to common stock but subordinated to all other types of corporate debt. International investing involves increased risks due to currency fluctuations, political or social instability, and differences in accounting standards, these risks are magnified in emerging markets. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration .

Portfolio holdings may not reflect the current portfolio composition. The holdings listed do not constitute a recommendation to purchase or sell a particular security.

Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Principal mutual funds are part of the Principal Funds, Inc. series. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Funds Distributor, Principal Securities and Principal Life are members of Principal Financial Group®, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths.

Investors should carefully consider a mutual fund’s investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principal.com, or calling 1-800-547-7754. Read the prospectus carefully before investing.

A mutual fund's share price and investment return will vary with market conditions, and the principal value of an investment when you sell your shares may be more or less than the original cost.

Information is current as of the creation of this piece. Keep in mind that portfolio holdings are subject to risk.

Not FDIC or NCUA Insured PQ 8917 May Lose Value, Not a Deposit, No Bank or Credit Union Guarantee 10-17 Not Insured by any Federal Government Agency