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Portfolio Holdings

American Funds Insurance Series - Asset Allocation Fund

As of December 31, 2017 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
3M Co. 2.25% 2026 1,000,000 950,674
ACE INA Holdings Inc. 2.30% 2020 1,345,000 1,343,308
ACE INA Holdings Inc. 2.875% 2022 3,880,000 3,934,875
ACE INA Holdings Inc. 3.35% 2026 880,000 898,807
ACE INA Holdings Inc. 4.35% 2045 800,000 904,695
AEP Transmission Company LLC 3.75% 2047 2,390,000 2,462,106
AES Corp. 5.50% 2025 5,525,000 5,828,875
AES Corp. 6.00% 2026 2,990,000 3,244,150
APT Pipelines Ltd. 4.20% 2025 3,565,000 3,707,080
AT&T Inc. 2.85% 2023 5,205,000 5,230,983
AT&T Inc. 3.40% 2024 1,560,000 1,569,922
AT&T Inc. 3.90% 2027 1,500,000 1,512,534
AT&T Inc. 4.10% 2028 4,464,000 4,486,463
AT&T Inc. 4.90% 2037 4,675,000 4,755,045
AT&T Inc. 5.15% 2050 2,160,000 2,179,250
AbbVie Inc. 2.50% 2020 360,000 361,287
AbbVie Inc. 2.90% 2022 115,000 115,348
AbbVie Inc. 3.20% 2022 4,680,000 4,756,813
AbbVie Inc. 3.60% 2025 110,000 113,239
AbbVie Inc. 4.30% 2036 650,000 698,203
AbbVie Inc. 4.45% 2046 6,850,000 7,469,747
Abbott Laboratories 2.90% 2021 1,130,000 1,143,986
Abbott Laboratories 3.40% 2023 270,000 274,984
Abbott Laboratories 3.75% 2026 6,695,000 6,885,680
Abbott Laboratories 4.75% 2036 460,000 518,125
Abbott Laboratories 4.90% 2046 500,000 575,053
Aetna Inc. 1.70% 2018 855,000 853,745
Aleris International, Inc. 7.875% 2020 1,625,000 1,616,875
Alexandria Real Estate Equities, Inc. 3.95% 2028 1,220,000 1,247,894
Allergan PLC 2.35% 2018 2,000,000 2,001,656
Allergan PLC 3.00% 2020 1,050,000 1,059,927
Allergan PLC 3.45% 2022 7,645,000 7,774,124
Allergan PLC 3.80% 2025 1,253,000 1,277,267
Allergan PLC 4.55% 2035 2,202,000 2,335,428
Allergan PLC 4.75% 2045 795,000 848,865
Allison Transmission Holdings, Inc. 5.00% 2024 2,975,000 3,075,406
Allstate Corp. 3.28% 2026 5,095,000 5,180,127
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 8.729% 2025 1,750,000 1,759,844
Alphabet Inc. 1.998% 2026 5,150,000 4,859,751
Altria Group, Inc. 2.625% 2020 2,350,000 2,365,698
Altria Group, Inc. 2.625% 2026 1,275,000 1,233,893
Altria Group, Inc. 3.875% 2046 975,000 969,073
Altria Group, Inc. 4.00% 2024 1,250,000 1,326,913
Altria Group, Inc. 4.50% 2043 3,000,000 3,264,507
Altria Group, Inc. 5.375% 2044 750,000 913,656
Amazon.com, Inc. 2.40% 2023 3,000,000 2,971,980
Amazon.com, Inc. 2.80% 2024 5,875,000 5,864,613
Amazon.com, Inc. 3.15% 2027 2,250,000 2,257,274
Ameren Corp. 3.70% 2047 4,240,000 4,345,822
AmeriCredit Automobile Receivables Trust, Series 2015-3, Class C, 2.73% 2021 3,455,000 3,473,833
AmeriCredit Automobile Receivables Trust, Series 2016-3, Class A3, 1.46% 2021 1,500,000 1,493,342
AmeriCredit Automobile Receivables Trust, Series 2016-3, Class B, 1.80% 2021 500,000 496,829
AmeriCredit Automobile Receivables Trust, Series 2016-4, Class A2A, 1.34% 2020 210,867 210,575
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 3,275,000 3,475,594
American Campus Communities, Inc. 3.35% 2020 1,765,000 1,801,085
American Campus Communities, Inc. 3.625% 2027 5,745,000 5,691,612
American Campus Communities, Inc. 3.75% 2023 4,375,000 4,491,598
American Campus Communities, Inc. 4.125% 2024 6,225,000 6,491,455
American Electric Power Co., Inc. 2.75% 2026 670,000 646,326
American Electric Power Co., Inc. 2.95% 2022 4,020,000 4,081,124
American Electric Power Co., Inc. 3.20% 2027 1,275,000 1,268,207
American Energy (Marcellus), Term Loan A, (3-month USD-LIBOR + 7.50%) 8.96% 2021 5,188,286 207,531
American Energy (Marcellus), Term Loan B, (3-month USD-LIBOR + 4.25%) 5.71% 2020 6,933,093 5,130,489
American Energy (Permian Basin) (3-month USD-LIBOR + 6.50%) 7.885% 2019 1,050,000 950,250
American Energy (Permian Basin), 7.125% 2020 7,345,000 5,986,175
American Energy (Permian Basin), 7.375% 2021 5,725,000 4,637,250
American Express Co. 2.20% 2020 6,000,000 5,954,382
American Tower Corp. 3.55% 2027 1,425,000 1,417,006
American Tower Corp. 3.60% 2028 2,000,000 1,991,786
Amgen Inc. 2.65% 2022 7,000,000 6,987,428
Amgen Inc. 2.70% 2022 3,400,000 3,399,412
Amgen Inc. 4.40% 2045 2,000,000 2,182,928
Anadarko Petroleum Corp. 4.85% 2021 3,455,000 3,650,923
Anadarko Petroleum Corp. 5.55% 2026 2,250,000 2,527,970
Anadarko Petroleum Corp. 6.60% 2046 2,300,000 2,966,715
Angel Oak Capital Advisors, LLC, Series 2013-9A, Class A1R, CLO, (3-month USD-LIBOR + 1.01%) 2.373% 2025 3,665,000 3,670,534
Anglo American Capital PLC 3.625% 2024 2,035,000 2,027,184
Anglo American Capital PLC 4.00% 2027 2,365,000 2,352,255
Anheuser-Busch InBev NV 2.65% 2021 1,000,000 1,005,649
Anheuser-Busch InBev NV 3.30% 2023 5,940,000 6,084,390
Anheuser-Busch InBev NV 3.65% 2026 4,985,000 5,151,863
Anheuser-Busch InBev NV 4.90% 2046 550,000 639,428
Apple Inc. 2.50% 2022 2,355,000 2,358,151
Apple Inc. 2.75% 2025 6,000,000 5,952,036
Apple Inc. 2.90% 2027 9,000,000 8,901,837
Apple Inc. 3.00% 2024 1,250,000 1,266,633
Apple Inc. 3.35% 2027 90,000 92,273
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8.693% 2025 600,000 622,313
Associated Materials, LLC 9.00% 2024 9,025,000 9,769,563
AstraZeneca PLC 3.375% 2025 7,890,000 8,033,290
Avis Budget Group, Inc. 5.50% 2023 3,055,000 3,142,831
Avon Products, Inc. 7.875% 2022 1,650,000 1,687,125
BANK OF NY MELLON CP 1/23/2018 50,000,000 49,947,500
BANK OF NY MELLON CP 2/1/2018 34,200,000 34,150,649
BB&T Corp. 2.45% 2020 6,000,000 6,021,258
BB&T Corp. 2.625% 2022 2,500,000 2,505,838
BB&T Corp. 2.75% 2022 6,000,000 6,045,462
BJ's Wholesale Club, Term Loan, (3-month USD-LIBOR + 7.50%) 8.953% 2025 1,275,000 1,247,641
BMC Software, Inc. 8.125% 2021 5,275,000 5,334,344
BPCE SA group 5.15% 2024 3,000,000 3,256,791
BPCE SA group 5.70% 2023 4,460,000 4,948,490
Ball Corp. 4.375% 2020 2,450,000 2,544,938
Bank of America Corp. 2.625% 2020 4,037,000 4,072,235
Bank of America Corp. 2.625% 2021 2,000,000 2,010,956
Bank of America Corp. 3.248% 2027 1,500,000 1,489,883
Bank of America Corp. 3.419% 2028 8,949,000 8,959,426
Bank of America Corp. 3.593% 2028 4,250,000 4,323,865
Bank of America Corp. 3.824% 2028 1,250,000 1,294,081
Bank of America Corp. 4.244% 2038 1,000,000 1,085,902
Bayer AG 2.375% 2019 2,750,000 2,751,933
Bayerische Motoren Werke AG 2.25% 2023 600,000 583,241
Becton, Dickinson and Co. 2.133% 2019 2,250,000 2,245,633
Becton, Dickinson and Co. 2.404% 2020 2,250,000 2,238,964
Becton, Dickinson and Co. 2.894% 2022 6,360,000 6,325,936
Becton, Dickinson and Co. 3.363% 2024 860,000 863,427
Berkshire Hathaway Energy Co. 2.40% 2020 1,245,000 1,251,354
Berkshire Hathaway Finance Corp. 1.30% 2019 1,070,000 1,056,629
Berkshire Hathaway Inc. 2.20% 2021 1,000,000 997,229
Berkshire Hathaway Inc. 2.75% 2023 2,615,000 2,633,559
Berkshire Hathaway Inc. 3.125% 2026 1,000,000 1,012,114
Blackstone CQP Holdco LP, 6.00% 2021 5,700,000 5,742,750
Blackstone CQP Holdco LP, 6.50% 2021 21,325,000 21,751,500
BlueMountain CLO Ltd., Series 2013-4A, Class AR, (3-month USD-LIBOR + 1.01%) 2.369% 2025 2,945,000 2,955,867
BlueMountain CLO Ltd., Series 2014-2A, Class AR, (3-month USD LIBOR + 0.93%) 2.293% 2026 4,515,000 4,527,958
Boardwalk Pipelines, LP 4.45% 2027 735,000 748,978
Boardwalk Pipelines, LP 5.95% 2026 2,000,000 2,234,090
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 2,250,000 2,238,750
Boston Scientific Corp. 3.85% 2025 5,500,000 5,662,135
Brandywine Operating Partnership, LP 3.95% 2023 1,070,000 1,092,620
British American Tobacco International Finance PLC 3.95% 2025 5,500,000 5,737,408
British American Tobacco PLC 3.222% 2024 5,000,000 5,006,075
British American Tobacco PLC 4.39% 2037 5,500,000 5,768,582
British American Tobacco PLC 4.54% 2047 1,000,000 1,056,275
British Telecommunications PLC 9.125% 2030 4,225,000 6,324,090
Broadcom Ltd. 2.375% 2020 1,500,000 1,490,510
Broadcom Ltd. 3.00% 2022 1,500,000 1,488,525
Broadcom Ltd. 3.625% 2024 1,500,000 1,493,276
Broadcom Ltd. 3.875% 2027 5,800,000 5,716,654
CAFCO LLC 4(2) CP 2/27/2018 50,000,000 49,862,900
CCO Holdings LLC and CCO Holdings Capital Corp. 4.20% 2028 1,920,000 1,904,402
CCO Holdings LLC and CCO Holdings Capital Corp. 4.464% 2022 6,000,000 6,265,560
CCO Holdings LLC and CCO Holdings Capital Corp. 4.908% 2025 1,000,000 1,064,579
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 4,250,000 4,154,375
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2047 2,615,000 2,688,991
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 5,850,000 6,091,313
CCO Holdings LLC and CCO Holdings Capital Corp. 6.484% 2045 585,000 683,897
CF Industries, Inc. 4.50% 2026 1,155,000 1,205,870
CF Industries, Inc. 4.95% 2043 4,830,000 4,588,500
CHARIOT FUNDING LLC 4(2) CP 3/14/2018 37,300,000 37,167,510
CHARIOT FUNDING LLC 4(2) CP 5/30/2018 50,000,000 49,611,350
CHARIOT FUNDING LLC 4(2) CP 6/19/2018 50,000,000 49,556,150
CIFC Funding Ltd., Series 2014-3A, Class AR, (3-month USD-LIBOR + 0.95%) 2.313% 2026 6,000,000 6,005,880
CISCO SYSTEMS INC 4(2) CP 1/10/2018 50,000,000 49,976,500
CISCO SYSTEMS INC 4(2) CP 2/22/2018 50,000,000 49,887,550
CISCO SYSTEMS INC 4(2) CP 3/8/2018 30,000,000 29,914,680
CIT Group Inc. 3.875% 2019 14,485,000 14,666,063
CMS Energy Corp. 8.75% 2019 667,000 725,964
COCA-COLA CO 4(2) CP 1/25/2018 20,000,000 19,978,000
COCA-COLA CO 4(2) CP 1/30/2018 20,470,000 20,443,143
COCA-COLA CO 4(2) CP 2/13/2018 23,200,000 23,155,943
COCA-COLA CO 4(2) CP 2/8/2018 25,000,000 24,957,800
CONSOL Energy Inc. 5.875% 2022 18,950,000 19,447,438
CPPIB Capital Inc. 1.25% 2019 3,900,000 3,843,333
CPPIB Capital Inc. 2.25% 2022 4,286,000 4,261,141
CPPIB Capital Inc. 2.75% 2027 6,600,000 6,560,994
CPS Auto Receivables Trust, Series 2017-B, Class A, 1.75% 2020 1,551,350 1,549,239
CS First Boston Mortgage Securities Corp., Series 2004-5, Class IVA1, 6.00% 2034 434,051 443,220
CSAIL Commercial Mortgage Trust, Series 2015-C4, Class ASB, 3.6167% 2048 1,400,000 1,452,800
Cablevision Systems Corp. 6.75% 2021 5,975,000 6,423,125
Calpine Corp. 5.25% 2026 4,970,000 4,889,287
Calpine Corp. 5.375% 2023 4,210,000 4,115,275
Canadian National Railway Co. 3.20% 2046 2,635,000 2,558,174
Canadian Natural Resources Ltd. 2.95% 2023 7,975,000 7,947,383
Canadian Natural Resources Ltd. 3.85% 2027 1,000,000 1,022,343
Canadian Natural Resources Ltd. 4.95% 2047 1,000,000 1,122,637
Cenovus Energy Inc. 3.80% 2023 3,970,000 4,013,960
Cenovus Energy Inc. 4.25% 2027 6,625,000 6,619,766
Cenovus Energy Inc. 5.25% 2037 2,000,000 2,064,618
Cenovus Energy Inc. 5.40% 2047 2,000,000 2,110,784
Centene Corp. 4.75% 2022 10,495,000 10,941,038
Centene Corp. 4.75% 2025 3,825,000 3,901,500
Centerpoint Energy, Inc., 2.50% 2022 900,000 887,306
CenturyLink, Inc. 6.75% 2023 7,675,000 7,550,281
Cequel Communications Holdings I, LLC and Cequel Capital Corp. 6.375% 2020 5,643,000 5,741,753
Chemours Co. 6.625% 2023 4,990,000 5,301,875
Chesapeake Energy Corp. (3-month USD-LIBOR + 3.25%) 4.609% 2019 4,525,000 4,525,000
Chesapeake Energy Corp. 4.875% 2022 6,250,000 5,953,125
Chesapeake Energy Corp. 8.00% 2025 5,450,000 5,511,313
Chesapeake Energy Corp. 8.00% 2027 3,375,000 3,248,438
Chesapeake Energy Corp., Term Loan, (3-month USD-LIBOR + 7.50%) 8.954% 2021 1,150,000 1,226,906
Chevron Corp. 2.498% 2022 2,730,000 2,734,829
Chevron Corp. 2.566% 2023 2,000,000 1,996,726
Chevron Corp. 3.326% 2025 1,165,000 1,199,599
Chrysler Capital Auto Receivables Trust, Series 2015-AA, Class B, 2.07% 2021 500,000 500,333
Chrysler Capital Auto Receivables Trust, Series 2015-BA, Class A3, 1.91% 2020 181,703 181,948
Citibank Credit Card Issuance Trust, Series 2008-A2, Class A2, (1-month USD-LIBOR + 1.15%) 2.702% 2020 2,000,000 2,001,506
Citibank Credit Card Issuance Trust, Series 2014-A6, Class A6, 2.15% 2021 275,000 275,347
Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class AAB, 2.984% 2048 1,185,000 1,198,106
Citigroup Inc. 1.70% 2018 150,000 149,862
Citigroup Inc. 2.35% 2021 8,650,000 8,562,107
Citigroup Inc. 2.90% 2021 4,000,000 4,029,520
Citigroup Inc. 3.20% 2026 2,211,000 2,195,616
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 15,760,000 15,503,900
Cleveland-Cliffs Inc. 4.875% 2024 1,175,000 1,175,000
Cleveland-Cliffs Inc. 5.75% 2025 17,195,000 16,464,213
Comcast Corp. 1.625% 2022 2,000,000 1,934,964
Comcast Corp. 2.35% 2027 5,435,000 5,137,472
Comcast Corp. 3.20% 2036 750,000 714,113
Comcast Corp. 3.30% 2027 1,000,000 1,021,084
Comcast Corp. 5.875% 2018 100,000 100,517
Comision Federal de Electricidad 4.75% 2027 1,270,000 1,333,500
Commercial Mortgage Trust, Series 2015-PC1, Class A5, 3.902% 2050 4,735,000 4,997,134
Commonwealth Bank of Australia 2.25% 2020 1,000,000 997,180
Commonwealth Bank of Australia 2.75% 2022 1,000,000 1,003,344
Commonwealth Edison Company 2.55% 2026 750,000 725,908
Commonwealth Edison Company 3.65% 2046 2,000,000 2,023,466
Commonwealth Edison Company 4.35% 2045 2,085,000 2,346,503
Communications Sales & Leasing, Inc. 6.00% 2023 1,300,000 1,280,500
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Ref. Bonds, Series 2014-E, 2.857% 2040 75,000 74,588
Concordia Healthcare Corp, Term Loan B, (3-month USD-LIBOR + 4.25%) 5.819% 2021 2,132,264 1,768,446
Concordia Healthcare Corp. 7.00% 2023 7,380,000 701,100
Concordia Healthcare Corp. 9.50% 2022 4,210,000 399,950
Connecticut Avenue Securities, Series 2014-C02, Class 1M1, (1-month USD-LIBOR + 0.95%) 2.502% 2024 39,892 40,035
ConocoPhillips 4.20% 2021 2,640,000 2,777,919
ConocoPhillips 4.95% 2026 1,750,000 1,989,208
Constellation Brands, Inc. 2.00% 2019 2,250,000 2,236,169
Constellation Brands, Inc. 2.25% 2020 2,250,000 2,230,713
Constellation Brands, Inc. 2.65% 2022 4,835,000 4,788,323
Constellation Brands, Inc. 2.70% 2022 395,000 393,418
Constellation Brands, Inc. 3.50% 2027 1,030,000 1,052,670
Constellation Brands, Inc. 4.50% 2047 445,000 489,697
Consumers Energy Co. 3.125% 2024 3,785,000 3,827,801
Consumers Energy Co. 3.25% 2046 940,000 904,201
Consumers Energy Co. 3.375% 2023 475,000 488,091
Convey Park Energy LLC 7.50% 2025 2,000,000 2,089,400
Corporate Office Properties LP 3.60% 2023 765,000 766,294
Corporate Office Properties LP 5.25% 2024 3,595,000 3,882,542
Corporate Risk Holdings LLC 13.50% 2020 952,118 1,018,766
Corporate Risk Holdings LLC 9.50% 2019 3,878,000 4,057,358
Costco Wholesale Corp. 2.15% 2021 2,250,000 2,240,928
Costco Wholesale Corp. 2.30% 2022 2,250,000 2,232,716
Costco Wholesale Corp. 2.75% 2024 12,250,000 12,246,791
Costco Wholesale Corp. 3.00% 2027 2,250,000 2,255,299
Credit Suisse Group AG 1.70% 2018 4,000,000 3,997,204
Credit Suisse Group AG 3.00% 2021 250,000 252,674
Credit Suisse Group AG 3.80% 2023 1,625,000 1,677,653
Crédit Agricole SA 4.375% 2025 1,700,000 1,778,792
Cumulus Media Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 4.82% 2020 2,000,000 1,727,500
DCP Midstream Operating LP 4.95% 2022 4,775,000 4,983,906
DJO Finance LLC 8.125% 2021 900,000 846,000
DNB ASA 2.375% 2021 3,000,000 2,982,222
DaVita HealthCare Partners Inc. 5.00% 2025 3,875,000 3,883,525
DaimlerChrysler North America Holding Corp. 2.00% 2021 200,000 195,734
DaimlerChrysler North America Holding Corp. 2.25% 2019 6,000,000 5,983,266
DaimlerChrysler North America Holding Corp. 2.25% 2020 2,765,000 2,755,126
DaimlerChrysler North America Holding Corp. 3.45% 2027 2,505,000 2,565,877
Danske Bank AS 2.00% 2021 2,365,000 2,313,642
Danske Bank AS 2.70% 2022 2,000,000 2,003,006
Deutsche Telekom International Finance BV 1.50% 2019 2,628,000 2,590,675
Deutsche Telekom International Finance BV 1.95% 2021 1,000,000 973,182
Deutsche Telekom International Finance BV 2.82% 2022 2,535,000 2,540,291
Deutsche Telekom International Finance BV 3.60% 2027 3,750,000 3,774,214
Deutsche Telekom International Finance BV 9.25% 2032 3,570,000 5,618,048
Devon Energy Corp. 5.00% 2045 3,590,000 4,016,826
Diamond Offshore Drilling, Inc. 4.875% 2043 4,685,000 3,443,475
Diamond Offshore Drilling, Inc. 7.875% 2025 2,550,000 2,687,063
Discover Card Execution Note Trust, Series 2015-A1, Class A1, (1-month USD-LIBOR + 0.35%) 1.827% 2020 200,000 200,096
Dominion Resources, Inc. 1.60% 2019 890,000 880,465
Dominion Resources, Inc. 1.875% 2018 2,500,000 2,492,595
Dominion Resources, Inc. 2.00% 2021 790,000 772,570
Dominion Resources, Inc. 2.579% 2020 950,000 950,906
Dominion Resources, Inc. 2.75% 2022 800,000 799,278
Dominion Resources, Inc. 2.85% 2026 1,500,000 1,450,946
Dominion Resources, Inc. 2.962% 2019 300,000 302,404
Drive Auto Receivables Trust, Series 2017-AA, Class C, 2.98% 2022 850,000 855,987
Drivetime Auto Owner Trust, Series 2016-3A, Class C, 3.15% 2022 2,395,000 2,403,066
Duke Energy Carolinas, Inc. 3.70% 2047 1,325,000 1,367,256
Duke Energy Corp. 1.80% 2021 275,000 267,686
Duke Energy Corp. 2.65% 2026 2,325,000 2,231,377
Duke Energy Corp. 3.15% 2027 1,855,000 1,844,825
Duke Energy Corp. 3.75% 2024 150,000 156,841
Duke Energy Florida, LLC 3.20% 2027 2,420,000 2,452,113
Duke Energy Ohio, Inc. 3.70% 2046 1,950,000 1,985,822
Duke Energy Progress Inc. 3.70% 2046 4,350,000 4,450,302
Duke Energy Progress Inc. 4.15% 2044 3,020,000 3,299,166
EDP Finance BV 3.625% 2024 12,250,000 12,346,934
EDP Finance BV 4.125% 2020 3,402,000 3,509,507
EMD Finance LLC 2.40% 2020 210,000 209,640
EMD Finance LLC 2.95% 2022 1,010,000 1,015,181
EMD Finance LLC 3.25% 2025 6,170,000 6,213,301
EOG Resources, Inc. 4.15% 2026 2,980,000 3,176,123
EPR Properties 4.50% 2027 4,365,000 4,396,816
EPR Properties 4.75% 2026 6,070,000 6,240,021
EQT Corp. 3.00% 2022 975,000 965,539
EQT Corp. 3.90% 2027 1,810,000 1,802,465
EXXON CORP CP 2/7/2018 75,000,000 74,881,425
Eastman Chemical Co. 2.70% 2020 7,000,000 7,048,111
EchoStar Corp. 6.625% 2026 3,450,000 3,622,500
Electricité de France SA 2.35% 2020 650,000 649,396
Electricité de France SA 6.95% 2039 4,000,000 5,469,576
Emera US Finance LP 2.15% 2019 300,000 298,912
Emera US Finance LP 2.70% 2021 770,000 768,676
Emera US Finance LP 3.55% 2026 645,000 647,823
EnLink Midstream Partners, LP 4.15% 2025 7,330,000 7,416,179
EnLink Midstream Partners, LP 4.85% 2026 2,500,000 2,623,480
EnLink Midstream Partners, LP 5.05% 2045 3,135,000 3,105,296
EnLink Midstream Partners, LP 5.45% 2047 1,415,000 1,499,546
Enbridge Energy Partners, LP 5.20% 2020 120,000 126,351
Enbridge Energy Partners, LP 5.875% 2025 3,825,000 4,337,994
Enbridge Energy Partners, LP, Series B, 6.50% 2018 3,900,000 3,951,956
Enbridge Energy Partners, LP, Series B, 7.50% 2038 2,000,000 2,594,740
Enbridge Inc. 3.50% 2024 1,000,000 1,012,378
Enbridge Inc. 4.00% 2023 3,035,000 3,162,251
Enbridge Inc. 4.25% 2026 370,000 387,483
Enbridge Inc. 5.50% 2046 965,000 1,163,887
Endo International PLC 5.75% 2022 5,865,000 4,911,938
Endo International PLC 6.00% 2025 3,280,000 2,558,400
Enel Finance International SA 3.50% 2028 5,800,000 5,683,466
Energy Transfer Partners, LP 4.00% 2027 1,126,000 1,105,980
Energy Transfer Partners, LP 4.15% 2020 3,500,000 3,616,228
Energy Transfer Partners, LP 4.20% 2027 430,000 428,460
Energy Transfer Partners, LP 4.75% 2026 6,500,000 6,752,974
Energy Transfer Partners, LP 5.30% 2047 3,000,000 2,989,752
Energy Transfer Partners, LP 5.40% 2047 7,686,000 7,782,559
Energy Transfer Partners, LP 5.50% 2027 6,420,000 6,564,450
Energy Transfer Partners, LP 5.875% 2024 2,775,000 2,927,625
Energy Transfer Partners, LP 7.50% 2020 1,175,000 1,295,438
Enersis Américas SA 4.00% 2026 495,000 505,034
Ensco PLC, 5.75% 2044 6,295,000 4,343,550
Entergy Corp. 2.95% 2026 1,160,000 1,130,437
Enterprise Fleet Financing LLC, Series 2015-1, Class A2, 1.30% 2020 176,754 176,707
Enterprise Fleet Financing LLC, Series 2016-2, Class A2, 1.74% 2022 558,311 557,281
Enterprise Fleet Financing LLC, Series 2017-1, Class A2, 2.13% 2022 621,340 621,469
Enterprise Fleet Financing LLC, Series 2017-1, Class A3, 2.60% 2022 655,000 658,581
Enterprise Products Operating LLC 4.90% 2046 1,000,000 1,105,174
Essex Portfolio L.P. 3.50% 2025 5,865,000 5,923,069
Essex Portfolio L.P. 3.875% 2024 1,000,000 1,037,573
Euramax International, Inc. 12.00% 2020 4,350,000 4,719,750
European Investment Bank 2.25% 2022 4,470,000 4,450,466
Exelon Corp. 3.40% 2026 200,000 200,373
Exelon Corp. 3.497% 2022 5,250,000 5,354,969
Exxon Mobil Corp. 2.222% 2021 5,070,000 5,060,179
Exxon Mobil Corp. 2.726% 2023 3,000,000 3,022,914
Exxon Mobil Corp. 3.043% 2026 2,250,000 2,286,558
FED HM LN BK BD 1/10/2018 50,000,000 49,986,500
FED HM LN BK BD 1/19/2018 24,595,000 24,580,981
FED HM LN BK BD 1/23/2018 69,300,000 69,251,490
FED HM LN BK BD 1/24/2018 105,150,000 105,072,189
FED HM LN BK BD 1/26/2018 83,000,000 82,933,600
FED HM LN BK BD 2/16/2018 75,000,000 74,883,000
FED HM LN BK BD 2/2/2018 145,800,000 145,648,368
FED HM LN BK BD 2/23/2018 35,000,000 34,934,900
FED HM LN BK BD 2/26/2018 55,000,000 54,891,650
FED HM LN BK BD 2/5/2018 87,000,000 86,900,820
FED HM LN BK BD 2/9/2018 63,000,000 62,916,840
FED HM LN BK BD 3/2/2018 24,200,000 24,147,244
FED HM LN BK BD 3/28/2018 20,000,000 19,933,200
FED HM LN BK BD 3/5/2018 50,000,000 49,885,500
FED HM LN BK BD 3/6/2018 42,000,000 41,902,140
FED HM LN BK BD 3/9/2018 35,900,000 35,809,532
FED HM LN BK DISC NT 2/14/2018 75,000,000 74,888,250
FED HM LN BK DISC NT 2/21/2014 50,000,000 49,910,500
FED HM LN MTG CORP DISC NT 2/23/2018 50,000,000 49,907,000
FED HM LN MTG CORP DISC NT 2/7/2018 100,000,000 99,875,000
FED HM LN MTG CORP DISC NT 3/2/2018 50,000,000 49,891,000
FED HM LN MTG CORP DISC NT 4/3/2018 75,000,000 74,732,250
FED HM LN MTG CORP DISC NT 4/6/2018 100,000,000 99,631,000
FED NAT MTG DISC NT 3/28/2018 25,000,000 24,916,500
FMG Resources 9.75% 2022 7,595,000 8,422,855
Fannie Mae 1.875% 2026 13,000,000 12,292,410
Fannie Mae 2.00% 2022 3,000,000 2,976,960
Fannie Mae 3.00% 2036 22,459,542 22,828,418
Fannie Mae 3.00% 2046 37,517,889 37,556,158
Fannie Mae 3.50% 2042 10,597,374 10,951,899
Fannie Mae 3.50% 2045 4,312,472 4,458,354
Fannie Mae 3.50% 2045 17,235,782 17,807,010
Fannie Mae 3.50% 2046 7,870,424 8,136,059
Fannie Mae 3.50% 2046 4,602,209 4,745,743
Fannie Mae 3.50% 2046 3,137,165 3,235,010
Fannie Mae 3.50% 2047 5,914,144 6,098,601
Fannie Mae 3.50% 2047 6,786,063 6,977,688
Fannie Mae 3.50% 2047 64,292,556 66,107,985
Fannie Mae 3.50% 2048 25,000,000 25,684,450
Fannie Mae 3.50% 2048 3,700,000 3,795,227
Fannie Mae 4.00% 2041 3,897,219 4,125,047
Fannie Mae 4.00% 2041 2,989,452 3,165,569
Fannie Mae 4.00% 2043 2,570,981 2,735,087
Fannie Mae 4.00% 2043 2,111,819 2,235,986
Fannie Mae 4.00% 2043 4,004,105 4,259,199
Fannie Mae 4.00% 2046 1,108,823 1,171,095
Fannie Mae 4.00% 2046 3,494,361 3,682,187
Fannie Mae 4.00% 2047 25,360,883 26,783,299
Fannie Mae 4.00% 2047 15,559,371 16,317,439
Fannie Mae 4.00% 2048 75,000,000 78,478,350
Fannie Mae 4.00% 2048 102,000,000 106,587,144
Fannie Mae 4.50% 2048 50,000,000 53,202,800
Fannie Mae 4.50% 2048 17,790,000 18,907,319
Fannie Mae 5.50% 2033 588,209 652,385
Fannie Mae 5.50% 2033 402,293 446,775
Fannie Mae 5.50% 2036 917,023 1,017,523
Fannie Mae 5.50% 2037 177,806 196,866
Fannie Mae 5.50% 2037 322,085 357,171
Fannie Mae 6.00% 2021 23,757 24,645
Fannie Mae 6.00% 2026 338,498 378,449
Fannie Mae 6.00% 2036 680,280 769,517
Fannie Mae 6.00% 2036 2,089,832 2,365,668
Fannie Mae 6.00% 2036 112,677 127,560
Fannie Mae 6.00% 2037 208,600 235,203
Fannie Mae 6.00% 2037 1,852,086 2,080,321
Fannie Mae 6.00% 2037 2,010,999 2,269,177
Fannie Mae 6.00% 2037 30,548 34,495
Fannie Mae 6.00% 2038 55,214 62,304
Fannie Mae 6.00% 2038 63,912 71,643
Fannie Mae 6.00% 2038 2,149,074 2,425,299
Fannie Mae 6.00% 2038 3,097,939 3,495,630
Fannie Mae 6.00% 2038 1,037,032 1,168,195
Fannie Mae 6.00% 2038 41,267 46,427
Fannie Mae 6.00% 2038 497,834 561,004
Fannie Mae 6.00% 2038 499,635 565,241
Fannie Mae 6.00% 2038 976,922 1,095,967
Fannie Mae 6.00% 2039 1,185 1,335
Fannie Mae 6.00% 2040 181,017 203,916
Fannie Mae 6.00% 2040 556,280 627,399
Fannie Mae 6.00% 2041 962,214 1,085,954
Fannie Mae 6.00% 2041 723,827 817,916
Fannie Mae 7.00% 2047 3,528 3,923
Fannie Mae 7.00% 2047 66,090 73,527
Fannie Mae, Series 2001-T10, Class A1, 7.00% 2041 201,110 233,613
Fannie Mae, Series 2002-W3, Class A-5, 7.50% 2041 49,126 57,218
Fannie Mae, Series 2006-43, Class JO, principal only, 0% 2036 118,883 104,488
Fannie Mae, Series 2012-M14, Class A2, multifamily 2.301% 2022 2,145,000 2,135,942
Fannie Mae, Series 2012-M5, Class A2, multifamily 2.715% 2022 4,000,000 4,052,796
Fannie Mae, Series 2012-M9, Class A2, multifamily 2.482% 2022 4,787,179 4,794,063
Fannie Mae, Series 2013-M14, Class A2, multifamily 3.329% 2023 7,530,000 7,806,652
Fannie Mae, Series 2014-M1, Class A2, multifamily 3.217% 2023 9,125,000 9,413,724
Fannie Mae, Series 2014-M2, Class A2, multifamily 3.513% 2023 6,450,000 6,759,542
Fannie Mae, Series 2014-M3, Class A2, multifamily 3.466% 2024 7,000,000 7,340,641
Fannie Mae, Series 2014-M9, Class A2, multifamily 3.103% 2024 6,215,000 6,396,093
Fannie Mae, Series 2017-M3, Class A2, multifamily 2.486% 2026 9,665,000 9,405,079
Fannie Mae, Series 2017-M7, Class A2, multifamily 2.961% 2027 2,891,000 2,911,720
Federal Home Loan Bank 0.875% 2018 17,140,000 17,083,438
First Data Corp. 5.00% 2024 2,400,000 2,478,000
First Data Corp. 5.375% 2023 2,850,000 2,973,690
First Quantum Minerals Ltd. 7.00% 2021 7,177,000 7,464,080
First Quantum Minerals Ltd. 7.25% 2022 7,925,000 8,347,403
First Quantum Minerals Ltd. 7.50% 2025 10,200,000 11,105,250
FirstEnergy Corp. 3.90% 2027 3,660,000 3,756,412
FirstEnergy Corp. 4.85% 2047 6,395,000 7,159,324
FirstEnergy Corp. 7.375% 2031 2,250,000 3,040,706
FirstEnergy Corp., Series B, 4.25% 2023 1,540,000 1,610,038
Ford Credit Auto Owner Trust, Series 2016-2, Class A, 2.03% 2027 2,900,000 2,859,966
Ford Credit Auto Owner Trust, Series 2017-1, Class A, 1.62% 2028 3,330,000 3,334,792
Ford Credit Auto Owner Trust, Series 2017-2, Class A, 2.36% 2029 6,590,000 6,536,028
Ford Credit Floorplan Master Owner Trust, Series 2015-1, Class A1, 1.42% 2020 5,740,000 5,739,018
Ford Credit Floorplan Master Owner Trust, Series 2016-3, Class A1, 1.55% 2021 3,500,000 3,469,564
Ford Motor Co. 5.291% 2046 750,000 818,573
Ford Motor Credit Co. 1.897% 2019 2,500,000 2,481,905
Ford Motor Credit Co. 2.343% 2020 7,635,000 7,567,132
Ford Motor Credit Co. 2.597% 2019 3,000,000 3,002,958
Ford Motor Credit Co. 3.157% 2020 1,000,000 1,012,771
Ford Motor Credit Co. 3.20% 2021 2,250,000 2,282,933
Ford Motor Credit Co. 4.134% 2025 5,000,000 5,178,255
France Télécom 4.125% 2021 5,000,000 5,288,280
France Télécom 9.0% 2031 33,000 49,603
Freddie Mac 0.75% 2018 11,880,000 11,855,408
Freddie Mac 0.75% 2018 6,888,000 6,886,071
Freddie Mac 3.00% 2037 33,741,663 34,288,818
Freddie Mac 3.50% 2034 10,426,550 10,866,623
Freddie Mac 3.50% 2037 26,594,569 27,601,864
Freddie Mac 3.50% 2037 24,318,024 25,239,045
Freddie Mac 3.50% 2046 5,267,659 5,428,844
Freddie Mac 3.50% 2047 12,880,490 13,257,502
Freddie Mac 3.50% 2047 48,254,911 49,667,332
Freddie Mac 3.50% 2047 24,893,298 25,621,899
Freddie Mac 3.50% 2047 5,122,190 5,278,934
Freddie Mac 3.50% 2048 36,680,000 37,687,893
Freddie Mac 3.50% 2048 100,000 102,584
Freddie Mac 4.00% 2042 5,119,576 5,410,004
Freddie Mac 4.00% 2043 2,551,782 2,705,241
Freddie Mac 4.00% 2043 6,533,104 6,910,901
Freddie Mac 4.00% 2043 2,635,126 2,809,100
Freddie Mac 4.00% 2045 16,055,535 16,978,359
Freddie Mac 4.00% 2045 16,048,053 16,970,495
Freddie Mac 4.00% 2047 6,834,423 7,157,705
Freddie Mac 4.00% 2048 18,000,000 18,805,896
Freddie Mac 4.00% 2048 73,700,000 77,103,319
Freddie Mac 4.50% 2039 235,975 251,882
Freddie Mac 4.50% 2046 1,546,869 1,645,158
Freddie Mac 4.50% 2046 2,384,793 2,536,470
Freddie Mac 4.50% 2048 2,000,000 2,126,912
Freddie Mac 5.00% 2023 177,084 186,316
Freddie Mac 5.00% 2038 1,285,478 1,399,975
Freddie Mac 5.00% 2040 2,313,599 2,511,576
Freddie Mac 6.50% 2038 155,714 172,590
Freddie Mac Pool #760014 2.969% 2045 1,593,938 1,600,241
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 2.00% 2056 6,373,906 6,350,316
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 2.00% 2056 12,234,597 12,160,100
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 2056 11,297,538 11,297,696
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 2.25% 2056 2,818,265 2,831,663
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 2.25% 2057 2,165,000 2,160,363
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 2057 1,645,000 1,683,113
Freddie Mac, Series K019, Class A2, multifamily 2.272% 2022 4,000,000 3,982,688
Freddie Mac, Series K021, Class A2, multifamily 2.396% 2022 3,680,000 3,680,640
Freddie Mac, Series K025, Class A2, multifamily 2.682% 2022 4,000,000 4,051,224
Freddie Mac, Series K028, Class A2, multifamily 3.111% 2023 5,900,000 6,083,938
Freddie Mac, Series K030, Class A1, multifamily 2.779% 2022 4,544,934 4,594,010
Freddie Mac, Series K034, Class A1, multifamily 2.669% 2023 1,822,369 1,839,550
Freddie Mac, Series K044, Class A2, multifamily 2.811% 2025 4,265,000 4,307,445
Freddie Mac, Series K047, Class A2, multifamily 3.329% 2025 4,000,000 4,167,268
Freddie Mac, Series K055, Class A2, multifamily 2.673% 2026 10,050,000 9,983,308
Freddie Mac, Series K057, Class A2, multifamily 2.57% 2026 9,510,000 9,367,892
Freddie Mac, Series K062, Class A2, multifamily, 3.413% 2026 7,175,000 7,504,232
Freddie Mac, Series K063, Class A2, multifamily 3.43% 2027 4,375,000 4,581,417
Freddie Mac, Series K064, Class A2, multifamily 3.224% 2027 5,265,000 5,433,464
Freddie Mac, Series K066, Class A2, multifamily 3.117% 2027 4,755,000 4,859,154
Freddie Mac, Series K067, Class A2, multifamily 3.194% 2027 17,070,000 17,552,705
Freddie Mac, Series K069, Class A2, multifamily 3.187% 2027 2,280,000 2,341,446
Freddie Mac, Series K070, Class A2, multifamily 3.303% 2027 6,465,000 6,697,236
Freddie Mac, Series K723, Class A2, multifamily 2.454% 2023 3,025,000 3,015,837
Freddie Mac, Series K725, Class A2, multifamily 3.002% 2024 5,555,000 5,684,548
Freddie Mac, Series KS01, Class A1, multifamily 1.693% 2022 1,511,070 1,496,425
Freddie Mac, Series T-041, Class 3A, 5.649% 2032 309,523 330,240
Freeport-McMoRan Inc. 3.55% 2022 8,710,000 8,633,788
Frontier Communications Corp. 11.00% 2025 14,475,000 10,711,500
G.O. Bonds, Pension Funding Series 2003, 5.10% 2033 13,715,000 13,716,234
GE CAPITAL TREASURY LLP CP 3/6/2018 50,000,000 49,858,850
GENERAL ELECTRIC CP 1/2/2018 7,800,000 7,798,769
General Electric Co. 2.70% 2022 6,535,000 6,528,458
General Electric Co. 4.125% 2042 2,500,000 2,622,878
General Motors Co. 6.75% 2046 250,000 315,629
General Motors Financial Co. 2.35% 2019 3,500,000 3,490,816
General Motors Financial Co. 3.45% 2022 2,000,000 2,028,622
General Motors Financial Co. 3.45% 2022 3,625,000 3,676,392
General Motors Financial Co. 3.50% 2024 6,600,000 6,594,944
General Motors Financial Co. 3.70% 2020 6,355,000 6,527,799
General Motors Financial Co. 4.30% 2025 1,250,000 1,304,346
General Motors Financial Co. 4.35% 2027 1,000,000 1,041,666
Genesis Energy, LP 6.50% 2025 2,050,000 2,091,000
Genesis Energy, LP 6.75% 2022 3,750,000 3,909,375
Georgia Gulf Corp. 4.625% 2021 3,550,000 3,656,500
Georgia-Pacific Corp. 2.539% 2019 7,000,000 7,026,292
Global SC Finance II SRL, Series 2013-1A, Class A, 2.98% 2028 133,333 132,053
Global SC Finance II SRL, Series 2014-1A, Class A1, 3.19% 2029 292,958 291,059
Global SC Finance II SRL, Series 2017-1A, Class A, 4.15% 2037 1,882,537 1,915,621
Gogo Inc. 12.50% 2022 14,275,000 16,148,594
Goldman Sachs Group, Inc. 1.95% 2019 3,900,000 3,878,351
Goldman Sachs Group, Inc. 2.55% 2019 4,000,000 4,008,832
Goldman Sachs Group, Inc. 2.875% 2021 231,000 232,857
Goldman Sachs Group, Inc. 2.905% 2023 10,900,000 10,833,946
Goldman Sachs Group, Inc. 2.908% 2023 3,000,000 2,982,747
Goldman Sachs Group, Inc. 3.00% 2022 4,750,000 4,770,406
Goldman Sachs Group, Inc. 3.50% 2025 280,000 284,627
Goldman Sachs Group, Inc. 3.6391% 2028 2,000,000 2,030,736
Goldman Sachs Group, Inc. 5.25% 2021 200,000 216,843
Government National Mortgage Assn. 4.00% 2047 7,654,808 7,995,347
Government National Mortgage Assn. 4.00% 2047 4,859,923 5,076,019
Government National Mortgage Assn. 4.00% 2048 14,250,000 14,858,860
Government National Mortgage Assn. 4.00% 2048 70,000,000 73,015,460
Government National Mortgage Assn. 4.00% 2048 23,000,000 23,983,894
Government National Mortgage Assn. 4.50% 2045 6,852,136 7,242,599
Government National Mortgage Assn. 4.50% 2047 9,496,165 10,012,462
Great Plains Energy Inc. 4.20% 2047 2,100,000 2,230,784
H.I.G. Capital, L.L.C. 6.75% 2024 1,441,000 1,441,000
HCA Inc. 5.25% 2026 1,250,000 1,328,125
HSBC Holdings PLC 3.262% 2023 5,250,000 5,325,563
HSBC Holdings PLC 3.90% 2026 200,000 207,596
HSBC Holdings PLC 4.25% 2024 3,000,000 3,137,373
HSBC Holdings PLC 4.30% 2026 200,000 212,802
Halliburton Co. 3.80% 2025 6,915,000 7,196,648
Halliburton Co. 4.85% 2035 1,000,000 1,124,471
Halliburton Co. 5.00% 2045 1,000,000 1,151,872
Hanesbrands Inc. 4.625% 2024 660,000 676,500
Hanesbrands Inc. 4.875% 2026 725,000 746,750
Hardwoods Acquisition Inc 7.50% 2021 2,635,000 2,437,375
Harris Corp. 3.832% 2025 1,000,000 1,037,699
Healthsouth Corp. 5.75% 2024 6,850,000 7,038,375
Healthsouth Corp. 5.75% 2025 3,285,000 3,432,825
Hertz Global Holdings Inc. 7.625% 2022 6,650,000 6,982,500
Hertz Vehicle Financing LLC, Rental Car Asset-backed Notes, Series 2013-1A, Class A2, 1.83% 2019 2,000,000 1,997,406
High-Speed Passenger Train G.O. Ref. Bonds, Series 2017-B, 2.193% 2047 (put 2020) 2,500,000 2,507,000
Holcim Ltd. 5.15% 2023 7,395,000 8,090,100
Home Depot, Inc. 1.80% 2020 3,415,000 3,388,824
Home Depot, Inc. 4.25% 2046 3,500,000 3,915,020
Hospitality Properties Trust 3.95% 2028 3,825,000 3,716,990
Hospitality Properties Trust 4.50% 2023 2,295,000 2,402,023
Hospitality Properties Trust 4.50% 2025 325,000 337,745
Hospitality Properties Trust 4.95% 2027 1,000,000 1,056,201
Host Hotels & Resorts LP 4.50% 2026 705,000 739,128
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 2043 20,000 20,790
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-F, 4.00% 2034 15,000 15,339
Housing Fin. Agcy., Homeownership Fin. Bonds (GNMA and FNMA Pass-Through Program), Series 2013-A, 2.35% 2043 30,787 29,507
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2013-A, AMT, 3.00% 2031 10,000 10,126
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-A, 4.00% 2038 235,000 245,918
Housing Fin. Agcy., Single-Family Housing Rev. Bonds, Series 167, 4.00% 2043 10,000 10,374
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-A-1, 4.00% 2044 65,000 67,917
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 2044 95,000 100,578
Housing Fin. Auth., Mortgage Rev. Ref. Bonds, AMT, 4.0% 2041 60,000 63,412
Huntsman International LLC 4.875% 2020 4,935,000 5,150,906
IBM CREDIT LLC 4(2) CP 3/13/2018 25,000,000 24,922,450
Icahn Enterprises Finance Corp. 6.25% 2022 4,150,000 4,253,750
Imperial Tobacco Finance PLC 3.50% 2023 4,000,000 4,079,796
Infor Software 7.875% 2021 1,275,000 1,310,063
Inmarsat PLC 4.875% 2022 7,775,000 7,794,438
Inmarsat PLC 6.50% 2024 5,450,000 5,545,375
Intelsat Jackson Holding Co. 6.625% 2024 1,400,000 1,418,173
Intelsat Jackson Holding Co. 8.00% 2024 4,275,000 4,510,125
Intercontinentalexchange, Inc. 2.50% 2018 4,000,000 4,017,158
International Paper Co. 7.30% 2039 2,005,000 2,831,373
Intesa Sanpaolo SpA 5.017% 2024 2,730,000 2,798,589
Investment Fin. Auth., Single-family Housing Rev. Bonds, Series 2013-A, 3.00% 2043 15,000 15,215
Investment Fin. Auth., Single-family Housing Rev. Bonds, Series 2013-C, 4.50% 2043 10,000 10,147
JOHN DEERE CANADA ULC 4(2) CP 1/9/2018 25,000,000 24,989,075
JPMorgan Chase & Co. 2.55% 2020 2,750,000 2,758,979
JPMorgan Chase & Co. 2.55% 2021 497,000 497,437
JPMorgan Chase & Co. 2.70% 2023 125,000 124,254
JPMorgan Chase & Co. 3.25% 2022 180,000 184,389
JPMorgan Chase & Co. 3.54% 2028 5,525,000 5,625,875
JPMorgan Chase & Co., Series Z, junior subordinated 5.30% (undated) 3,200,000 3,326,720
Jaguar Holding Co. 6.375% 2023 1,600,000 1,620,000
Johnson & Johnson 2.45% 2026 1,285,000 1,254,142
Johnson & Johnson 3.625% 2037 1,000,000 1,057,843
Johnson & Johnson 3.75% 2047 750,000 802,212
Johnson & Johnson, 2.25% 2022 3,750,000 3,747,090
Jonah Energy LLC 7.25% 2025 1,475,000 1,487,906
Jupiter Resources Inc. 8.50% 2022 1,500,000 937,500
KfW 2.125% 2022 375,000 371,966
Kimco Realty Corp. 2.70% 2024 1,220,000 1,182,653
Kimco Realty Corp. 3.125% 2023 2,820,000 2,817,236
Kimco Realty Corp. 3.80% 2027 1,295,000 1,310,049
Kinder Morgan Energy Partners, LP 3.50% 2021 40,000 40,711
Kinder Morgan Energy Partners, LP 5.40% 2044 1,380,000 1,463,072
Kinder Morgan Energy Partners, LP 5.50% 2044 3,578,000 3,821,687
Kinder Morgan Finance Co. 5.05% 2046 1,500,000 1,561,469
Kinder Morgan, Inc. 3.05% 2019 2,520,000 2,542,909
Kinder Morgan, Inc. 4.30% 2025 1,625,000 1,694,870
Kinder Morgan, Inc. 5.55% 2045 1,000,000 1,097,479
Kinetic Concepts, Inc. 12.50% 2021 2,430,000 2,739,825
Kratos Defense & Security Solutions, Inc. 6.50% 2025 620,000 645,575
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 9.627% 2024 3,000,000 3,120,750
LB-UBS Commercial Mortgage Trust, Series 2007-C6, Class AM, 6.114% 2040 1,450,578 1,449,898
LSC Communications, Inc. 8.75% 2023 2,100,000 2,165,625
Landwirtschaftliche Rentenbank 1.75% 2019 130,000 129,630
Liberty Global PLC 5.50% 2028 2,725,000 2,656,875
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 10.265% 2020 16,453,625 15,301,871
Limited Brands, Inc. 6.875% 2035 1,785,000 1,811,775
Lloyds Banking Group PLC 2.907% 2023 1,525,000 1,513,419
Lloyds Banking Group PLC 3.00% 2022 4,000,000 4,023,280
Lloyds Banking Group PLC 4.582% 2025 1,500,000 1,575,059
Lockheed Martin Corp. 2.50% 2020 6,015,000 6,057,069
Lockheed Martin Corp. 3.10% 2023 545,000 554,312
Lockheed Martin Corp. 3.55% 2026 8,490,000 8,828,581
Lowe's Companies, Inc. 2.50% 2026 2,720,000 2,616,972
MASTR Alternative Loan Trust, Series 2004-2, Class 2A1, 6.00% 2034 965,824 1,030,306
MPLX LP 4.125% 2027 2,680,000 2,749,310
MPLX LP 5.20% 2047 1,000,000 1,100,730
Madison Park Funding Ltd., CLO, Series 2014-13A, Class AR, (3-month USD-LIBOR + 1.11%) 2.467% 2025 6,800,000 6,807,140
Mallinckrodt PLC 4.875% 2020 5,360,000 5,172,400
Manitoba (Province of) 3.05% 2024 2,600,000 2,653,586
Marathon Oil Corp. 4.40% 2027 4,955,000 5,186,721
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 6.069% 2024 1,845,375 1,841,915
McDonald's Corp. 2.625% 2022 1,105,000 1,108,199
McDonald's Corp. 2.75% 2020 1,750,000 1,769,231
McDonald's Corp. 4.875% 2045 1,600,000 1,859,283
Medtronic, Inc. 3.35% 2027 1,500,000 1,540,454
Medtronic, Inc. 3.50% 2025 3,000,000 3,114,279
Medtronic, Inc. 4.375% 2035 4,537,000 5,120,599
Medtronic, Inc. 4.625% 2045 3,260,000 3,803,924
Meritage Homes Corp. 5.125% 2027 2,675,000 2,728,500
MetLife, Inc. 1.55% 2019 3,500,000 3,460,671
MetLife, Inc. 1.95% 2021 2,500,000 2,449,863
MetLife, Inc. 2.50% 2020 8,000,000 8,020,208
MetroPCS Wireless, Inc. 6.625% 2023 3,850,000 4,023,250
Microsoft Corp. 4.10% 2037 1,000,000 1,117,909
Microsoft Corp. 4.20% 2035 6,000,000 6,815,838
MidAmerican Energy Co. 3.10% 2027 2,000,000 2,011,956
MidAmerican Energy Holdings Co. 2.40% 2019 1,500,000 1,506,087
Molina Healthcare, Inc. 4.875% 2025 4,725,000 4,736,813
Molina Healthcare, Inc. 5.375% 2022 8,985,000 9,411,788
Molson Coors Brewing Co. 1.45% 2019 425,000 419,808
Molson Coors Brewing Co. 1.90% 2019 2,015,000 2,006,452
Molson Coors Brewing Co. 2.10% 2021 165,000 161,842
Molson Coors Brewing Co. 2.25% 2020 1,725,000 1,717,117
Molson Coors Brewing Co. 3.00% 2026 460,000 450,955
Molson Coors Brewing Co. 4.20% 2046 2,250,000 2,300,173
Morgan Stanley (3-month USD-LIBOR + 1.22%) 2.617% 2024 3,000,000 3,065,361
Morgan Stanley 2.50% 2021 3,000,000 2,996,103
Morgan Stanley 3.625% 2027 2,775,000 2,842,557
Morgan Stanley 3.875% 2026 2,650,000 2,764,435
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class ASB, 3.04% 2048 1,180,000 1,198,106
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class ASB, 3.557% 2047 1,000,000 1,040,787
Morgan Stanley Capital I Trust, Series 2014-CPT, Class A, 3.35% 2021 2,650,000 2,712,726
Mortgage Repurchase Agreement Financing Trust, Series 2017-1, Class A1, (1-month USD-LIBOR + 0.85%) 2.282% 2019 2,070,000 2,070,253
Mosaic Co. 3.25% 2022 2,250,000 2,232,502
Mosaic Co. 4.05% 2027 2,125,000 2,134,165
Multiplan, Inc. 8.50% 2022 2,535,000 2,636,400
NAT RURL UTIL CP 1/25/2018 25,000,000 24,971,550
NBC Universal Enterprise, Inc. 1.974% 2019 100,000 99,832
NGL Energy Partners LP 6.125% 2025 6,935,000 6,796,300
NGL Energy Partners LP 6.875% 2021 5,505,000 5,642,625
NRG Energy, Inc. 6.25% 2022 4,790,000 5,005,550
National Australia Bank 1.25% 2018 3,000,000 2,998,272
National Australia Bank Ltd. 1.375% 2019 975,000 962,967
National Australia Bank Ltd. 1.875% 2021 975,000 954,603
National Rural Utilities Cooperative Finance Corp. 3.05% 2027 6,000,000 5,961,336
Nationstar HECM Loan Trust, Series 2016-2A, Class A, 2.2394% 2026 238,380 237,933
Nationstar HECM Loan Trust, Series 2017-1A, Class A, 1.9679 % 2027 352,679 352,146
Nationstar HECM Loan Trust, Series 2017-1A, Class M1, 2.9419% 2027 420,000 421,345
Navient Corp. 4.875% 2019 7,800,000 7,951,320
Navient Corp. 5.5% 2023 3,640,000 3,644,550
Navient Corp. 6.125% 2024 2,550,000 2,594,625
Navient Corp. 6.50% 2022 3,325,000 3,492,081
Navios Maritime Acquisition Corp. and Navios Acquisition Finance (US) Inc. 8.125% 2021 2,350,000 2,003,375
Neiman Marcus Group LTD Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 4.642% 2020 2,700,000 2,211,300
New York Life Global Funding 1.50% 2019 1,525,000 1,505,036
New York Life Global Funding 1.70% 2021 1,500,000 1,457,321
New York Life Global Funding 2.35% 2026 1,190,000 1,136,765
Newell Rubbermaid Inc. 2.60% 2019 188,000 188,685
Newell Rubbermaid Inc. 3.15% 2021 2,050,000 2,074,297
Newell Rubbermaid Inc. 3.85% 2023 1,850,000 1,916,239
NiSource Finance Corp. 2.65% 2022 675,000 670,575
Noble Corp. PLC 7.70% 2025 3,175,000 2,682,875
Noble Corp. PLC 8.70% 2045 3,525,000 2,811,188
Noble Energy, Inc. 3.85% 2028 10,485,000 10,535,213
Noble Energy, Inc. 4.95% 2047 1,050,000 1,127,126
Nordea Bank AB 2.50% 2020 4,450,000 4,456,457
Northern States Power Co. 4.125% 2044 6,000,000 6,554,490
Northrop Grumman Corp., 2.93% 2025 3,645,000 3,628,193
Northrop Grumman Corp., 3.25% 2028 5,995,000 6,014,664
Northrop Grumman Corp., 4.03% 2047 1,405,000 1,473,345
Nova Chemicals Corp 5.25% 2027 1,700,000 1,700,000
Novelis Corp. 5.875% 2026 2,600,000 2,658,500
Oracle Corp. 2.65% 2026 2,000,000 1,951,568
Orange SA 1.625% 2019 2,250,000 2,222,712
Orange SA 5.50% 2044 3,000,000 3,693,261
PACCAR FINL CORP CP 1/10/2018 13,000,000 12,993,578
PFIZER INC 4(2) CP 2/21/2018 43,000,000 42,905,142
PNC Bank 1.45% 2019 3,340,000 3,298,480
PNC Bank 2.30% 2020 250,000 249,825
PNC Bank 2.55% 2021 8,000,000 7,999,528
PNC Financial Services Group, Inc. 2.854% 2022 1,445,000 1,450,958
PNC Financial Services Group, Inc. 3.90% 2024 2,000,000 2,096,672
PRIVATE EXPORT FUND CORP 4(2) CP 3/19/2018 21,200,000 21,126,266
PROCTER & GAMBLE 4(2) CP 1/12/2018 50,000,000 49,972,500
PROCTER & GAMBLE 4(2) CP 1/22/2018 25,000,000 24,976,025
PROCTER & GAMBLE 4(2) CP 1/31/2018 26,000,000 25,965,264
PROCTER & GAMBLE 4(2) CP 2/13/2018 50,000,000 49,906,350
PacifiCorp., First Mortgage Bonds, 3.60% 2024 6,695,000 7,002,950
PacifiCorp., First Mortgage Bonds, 5.65% 2018 1,250,000 1,275,770
Pacific Gas and Electric Co. 3.25% 2023 1,220,000 1,232,579
Pacific Gas and Electric Co. 3.30% 2027 1,545,000 1,534,656
Pacific Gas and Electric Co. 3.30% 2027 5,305,000 5,264,915
Pacific Gas and Electric Co. 3.40% 2024 1,310,000 1,335,838
Pacific Gas and Electric Co. 3.85% 2023 6,929,000 7,230,328
Pacific Gas and Electric Co. 3.95% 2047 3,750,000 3,733,234
Pacific Gas and Electric Co. 4.30% 2045 1,270,000 1,329,046
Peabody Energy Corp. 6.00% 2022 1,000,000 1,041,250
Peabody Energy Corp. 6.375% 2025 600,000 626,250
PepsiCo, Inc. 1.35% 2019 1,290,000 1,274,843
PepsiCo, Inc. 3.00% 2027 2,500,000 2,493,553
Petróleos Mexicanos 6.75% 2047 1,125,000 1,177,144
Petróleos Mexicanos 6.75% 2047 4,115,000 4,305,730
Petsmart, Inc. 5.875% 2025 11,385,000 8,794,913
Petsmart, Inc. 8.875% 2025 7,875,000 4,784,063
Philip Morris International Inc. 1.875% 2021 2,000,000 1,964,140
Philip Morris International Inc. 2.00% 2020 2,000,000 1,988,056
Philip Morris International Inc. 2.375% 2022 1,960,000 1,932,229
Philip Morris International Inc. 2.50% 2022 2,250,000 2,231,183
Philip Morris International Inc. 2.625% 2022 2,395,000 2,395,910
Philip Morris International Inc. 3.125% 2028 1,500,000 1,496,835
Philip Morris International Inc. 3.25% 2024 5,000,000 5,085,580
Philip Morris International Inc. 4.25% 2044 2,050,000 2,164,136
Phillips 66 Partners LP 3.55% 2026 335,000 332,553
Phillips 66 Partners LP 3.75% 2028 1,055,000 1,057,372
Phillips 66 Partners LP 4.68% 2045 800,000 824,153
Phillips 66 Partners LP 4.90% 2046 5,975,000 6,340,419
Pioneer Natural Resources Co. 3.45% 2021 3,345,000 3,414,436
Ply Gem Industries, Inc. 6.50% 2022 3,550,000 3,696,438
Procter & Gamble Co. 1.70% 2021 825,000 805,349
Prudential Financial, Inc. 3.50% 2024 4,000,000 4,159,788
Public Service Co. of Colorado 2.25% 2022 2,000,000 1,969,666
Public Service Enterprise Group Inc. 2.25% 2026 385,000 362,468
Public Service Enterprise Group Inc. 2.65% 2022 1,900,000 1,885,161
Public Storage 2.37% 2022 1,115,000 1,100,702
Public Storage 3.094% 2027 2,705,000 2,690,117
Puget Energy, Inc. 3.65% 2025 3,135,000 3,218,328
Puget Energy, Inc. 5.625% 2022 1,965,000 2,172,034
Puget Energy, Inc. 6.00% 2021 1,823,000 2,018,329
Puget Energy, Inc. 6.50% 2020 1,245,000 1,379,057
QGOG Constellation SA 9.50% 2024 851,204 574,563
QUALCOMM INC 4(2) CP 1/18/2018 32,600,000 32,572,877
Qorvo, Inc. 7.00% 2025 1,950,000 2,186,438
Quebec (Province of) 2.375% 2022 6,232,000 6,195,480
Quebec (Province of) 2.75% 2027 9,000,000 8,921,970
Quintiles Transnational Corp. 4.875% 2023 2,475,000 2,561,625
R.R. Donnelley & Sons Co. 6.50% 2023 3,310,000 3,210,700
R.R. Donnelley & Sons Co. 7.875% 2021 4,625,000 4,833,125
Rabobank Nederland 2.75% 2022 2,825,000 2,849,038
Rabobank Nederland 4.375% 2025 5,500,000 5,813,830
Rayonier Advanced Materials Inc. 5.50% 2024 3,304,000 3,308,130
Reckitt Benckiser Group PLC 2.375% 2022 2,545,000 2,496,340
Reynolds American Inc. 3.25% 2020 1,035,000 1,052,207
Reynolds American Inc. 4.00% 2022 1,035,000 1,082,363
Reynolds American Inc. 4.45% 2025 2,455,000 2,621,076
Reynolds American Inc. 5.70% 2035 755,000 901,957
Reynolds American Inc. 5.85% 2045 2,030,000 2,542,388
Reynolds Group Inc. 5.75% 2020 3,629,308 3,688,285
Roche Holdings, Inc. 1.75% 2022 2,340,000 2,275,800
Roche Holdings, Inc. 2.875% 2021 8,625,000 8,755,496
Roche Holdings, Inc. 3.00% 2025 6,000,000 6,049,302
Roche Holdings, Inc. 3.35% 2024 1,200,000 1,241,744
Rockwell Collins, Inc. 1.95% 2019 1,125,000 1,119,547
Rockwell Collins, Inc. 2.80% 2022 3,025,000 3,031,830
Rockwell Collins, Inc. 3.20% 2024 2,275,000 2,295,093
Roper Technologies, Inc. 2.80% 2021 2,065,000 2,070,291
Roper Technologies, Inc. 3.80% 2026 835,000 862,454
Rotech Healthcare Inc., Term Loan A, (3-month USD-LIBOR + 4.25%) 5.943% 2018 2,968,250 2,953,409
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 8.75%) 10.443% 2019 2,400,000 2,388,000
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 0% 2020 7,108,035 6,720,924
Royal Bank of Canada 1.875% 2020 7,000,000 6,944,427
Ryerson Inc. 11.00% 2022 6,190,000 6,940,538
SM Energy Co. 5.625% 2025 3,300,000 3,217,500
SM Energy Co. 6.50% 2021 2,325,000 2,365,688
Sabine Pass Liquefaction, LLC 4.20% 2028 12,540,000 12,709,165
Sabine Pass Liquefaction, LLC 5.875% 2026 1,235,000 1,389,396
Sales Tax Securitization Corp., Sales Tax Rev. Ref. Bonds, Series 2017-B, 3.587% 2043 2,000,000 2,002,400
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 3,390,000 3,390,000
Santander Drive Auto Receivables Trust, Series 2015-2, Class B, 1.83% 2020 88,040 88,042
Santander Drive Auto Receivables Trust, Series 2015-3, Class C, 2.74% 2021 5,000,000 5,024,270
Santander Drive Auto Receivables Trust, Series 2015-4, Class C, 2.97% 2021 300,000 302,124
Santander Drive Auto Receivables Trust, Series 2016-1, Class A3, 1.62% 2020 163,348 163,321
Santander Drive Auto Receivables Trust, Series 2016-1, Class B, 2.47% 2020 100,000 100,184
Santander Drive Auto Receivables Trust, Series 2017-1, Class A2, 1.49% 2020 319,444 319,142
Santander Drive Auto Receivables Trust, Series 2017-1, Class A3, 1.77% 2020 1,255,000 1,253,080
Santander Drive Auto Receivables Trust, Series 2017-1, Class B, 2.10% 2021 740,000 738,123
Santander Drive Auto Receivables Trust, Series 2017-1, Class C, 2.58% 2022 740,000 738,105
Saudi Arabia (Kingdom of) 2.875% 2023 1,320,000 1,299,560
Saudi Arabia (Kingdom of) 3.625% 2028 2,060,000 2,045,127
Saudi Arabia (Kingdom of) 4.625% 2047 1,330,000 1,361,125
Scentre Group 3.25% 2025 2,000,000 1,967,292
Scentre Group 3.75% 2027 2,930,000 2,977,255
Scentre Group, 3.50% 2025 4,075,000 4,099,792
Schlumberger BV 3.625% 2022 2,800,000 2,885,207
Schlumberger BV 4.00% 2025 120,000 126,279
Scientific Games Corp. 7.00% 2022 1,975,000 2,086,094
Seven Generations Energy Ltd. 6.75% 2023 2,000,000 2,135,000
Shell International Finance BV 2.25% 2020 1,965,000 1,965,134
Sherwin-Williams Co. 2.25% 2020 2,250,000 2,243,612
Sherwin-Williams Co. 2.75% 2022 1,185,000 1,181,469
Sherwin-Williams Co. 3.125% 2024 550,000 553,693
Sherwin-Williams Co. 3.45% 2027 1,395,000 1,419,679
Shire PLC 1.90% 2019 2,130,000 2,111,375
Shire PLC 2.40% 2021 6,465,000 6,368,180
Shire PLC 3.20% 2026 1,500,000 1,468,988
Siemens AG 2.70% 2022 3,360,000 3,381,329
Sierra Pacific Power Co., General and Refunding Mortgage Notes, Series T, 3.375% 2023 3,500,000 3,611,801
Sirius XM Radio Inc 3.875% 2022 2,175,000 2,191,313
Skandinaviska Enskilda Banken AB 2.625% 2021 250,000 251,020
Skandinaviska Enskilda Banken AB 2.80% 2022 4,750,000 4,790,033
SoftBank Group Corp. 4.50% 2020 13,190,000 13,506,956
Solera Holdings, Inc. 10.50% 2024 1,125,000 1,271,228
Sotheby's 5.25% 2022 2,435,000 2,511,703
Sound Point CLO Ltd, Series 2013-2A, Class A1R, CLO, (3-month USD LIBOR + 0.99%) 2.349% 2025 3,176,903 3,178,555
South Carolina Electric & Gas Co. 4.10% 2046 2,595,000 2,645,296
Southwestern Energy Co. 4.10% 2022 10,660,000 10,526,750
Southwestern Energy Co. 7.50% 2026 1,155,000 1,228,631
Spain (Kingdom of) 4.00% 2018 15,000,000 15,063,000
Spectra Energy Partners, LP 3.375% 2026 615,000 608,750
Starbucks Corp. 2.70% 2022 1,500,000 1,505,321
Starbucks Corp. 3.75% 2047 875,000 888,328
Starwood Property Trust, Inc. 5.00% 2021 2,550,000 2,652,000
Station Place Securitization Trust, Series 2017-1, Class A, (1-month USD-LIBOR + 0.90%) 2.452% 2049 648,333 648,607
Statoil ASA 2.75% 2021 1,925,000 1,951,792
Statoil ASA 3.25% 2024 2,850,000 2,931,992
Statoil ASA 4.25% 2041 2,000,000 2,165,896
Sunoco LP 6.25% 2021 5,015,000 5,225,630
Symphony CLO Ltd, Series 2013-12A, Class AR, CLO, (3-month USD-LIBOR + 1.03%) 2.389% 2025 8,775,000 8,781,143
T-Mobile US, Inc. 6.50% 2026 275,000 300,781
TAL Advantage V LLC, Series 2013-2A, Class A, 3.55% 2038 1,550,167 1,547,472
TAL Advantage V LLC, Series 2014-1A, Class A, 3.51% 2039 1,418,333 1,417,908
TI Automotive Ltd. 8.75% 2023 873,000 940,658
Talen Energy Corp. 10.50% 2026 675,000 670,646
Talen Energy Corp. 9.50% 2022 770,000 793,100
Tampa Electric Co. 4.35% 2044 3,805,000 4,152,176
Targa Resources Partners LP 4.125% 2019 7,330,000 7,394,138
Targa Resources Partners LP 6.75% 2024 2,965,000 3,191,081
Team Health Holdings, Inc. 6.375% 2025 2,525,000 2,266,188
Teekay Corp. 8.50% 2020 15,180,000 15,521,550
Tenet Healthcare Corp. 4.375% 2021 3,650,000 3,659,125
Tenet Healthcare Corp. 4.50% 2021 2,525,000 2,550,250
Tenet Healthcare Corp. 4.625% 2024 3,153,000 3,085,999
Tenet Healthcare Corp. 4.75% 2020 3,290,000 3,364,025
Tenet Healthcare Corp., 6.00% 2020 10,405,000 11,040,225
Tesoro Logistics LP 5.25% 2025 350,000 368,533
Tesoro Logistics LP 5.50% 2019 3,410,000 3,543,911
Teva Pharmaceutical Finance Company BV 1.40% 2018 735,000 730,203
Teva Pharmaceutical Finance Company BV 1.70% 2019 725,000 704,604
Teva Pharmaceutical Finance Company BV 2.20% 2021 10,720,000 9,799,592
Teva Pharmaceutical Finance Company BV 2.80% 2023 8,413,000 7,334,184
Teva Pharmaceutical Finance Company BV 3.15% 2026 12,876,000 10,647,757
Teva Pharmaceutical Finance Company BV 4.10% 2046 3,550,000 2,711,202
Thermo Fisher Scientific Inc. 2.40% 2019 4,025,000 4,035,606
Thermo Fisher Scientific Inc. 4.15% 2024 2,000,000 2,123,854
Time Warner Inc. 3.80% 2027 605,000 605,414
Towd Point Mortgage Trust, Series 2016-4, Class A1, 2.25% 2056 1,265,124 1,257,783
Towd Point Mortgage Trust, Series 2017-1, Class A1, 2.75% 2056 5,362,625 5,368,556
Towd Point Mortgage Trust, Series 2017-4, Class A1, 2.75% 2057 3,219,716 3,214,075
TransCanada Corp. 6.50% 2018 475,000 487,878
TransCanada Corp. 7.625% 2039 5,000,000 7,542,055
Transocean Inc. 9.00% 2023 2,100,000 2,278,500
Travelers Companies, Inc. 4.00% 2047 1,735,000 1,850,548
Tri-State Generation and Transmission Assn. Inc., Pass Through Trust, Series 2003-A, 6.04% 2018 57,975 58,033
Trilogy International Partners, LLC 8.875% 2022 7,250,000 7,449,375
Triton Container Finance LLC, Series 2017-1A, Class A, 3.52% 2042 2,323,679 2,310,980
Triton Container Finance LLC, Series 2017-2A, Class A, 3.62% 2042 1,984,023 1,987,185
U S TREASURY BILL 1/11/2018 90,000,000 89,973,000
U S TREASURY BILL 1/2/2018 89,300,000 89,289,284
U S TREASURY BILL 1/4/2018 50,000,000 49,996,500
U S TREASURY BILL 2/8/2018 45,900,000 45,839,871
U S TREASURY BILL 4/12/2018 19,800,000 19,723,176
U S TREASURY BILL 5/03/2018 15,000,000 14,929,350
U S TREASURY BILL 6/14/2018 50,000,000 49,668,500
U.S. Treasury 0.625% 2018 25,930,000 25,864,138
U.S. Treasury 0.75% 2018 39,002,000 38,941,937
U.S. Treasury 0.875% 2019 40,000,000 39,334,400
U.S. Treasury 1.125% 2019 35,000,000 34,713,700
U.S. Treasury 1.125% 2021 10,000,000 9,673,000
U.S. Treasury 1.125% 2021 42,000,000 40,579,560
U.S. Treasury 1.25% 2019 5,000,000 4,960,750
U.S. Treasury 1.25% 2019 7,500,000 7,445,100
U.S. Treasury 1.25% 2020 93,000,000 91,752,870
U.S. Treasury 1.25% 2020 318,117,000 313,984,660
U.S. Treasury 1.375% 2019 4,500,000 4,456,170
U.S. Treasury 1.375% 2020 21,500,000 21,253,180
U.S. Treasury 1.375% 2020 55,000,000 54,403,250
U.S. Treasury 1.375% 2021 49,410,000 48,472,198
U.S. Treasury 1.375% 2021 13,500,000 13,210,425
U.S. Treasury 1.375% 2021 23,500,000 22,974,775
U.S. Treasury 1.375% 2023 5,000,000 4,767,200
U.S. Treasury 1.375% 2023 8,000,000 7,621,280
U.S. Treasury 1.50% 2019 400,000,000 398,592,000
U.S. Treasury 1.50% 2019 59,825,000 59,397,251
U.S. Treasury 1.50% 2020 500,000 495,160
U.S. Treasury 1.50% 2026 500,000 465,615
U.S. Treasury 1.625% 2020 125,000,000 124,041,250
U.S. Treasury 1.625% 2020 10,000,000 9,941,100
U.S. Treasury 1.625% 2023 5,000,000 4,844,150
U.S. Treasury 1.625% 2026 7,000,000 6,615,560
U.S. Treasury 1.625% 2026 1,500,000 1,414,590
U.S. Treasury 1.75% 2019 21,800,000 21,755,528
U.S. Treasury 1.75% 2021 9,500,000 9,368,995
U.S. Treasury 1.75% 2022 31,750,000 31,180,723
U.S. Treasury 1.875% 2022 100,000,000 98,922,000
U.S. Treasury 1.875% 2022 20,500,000 20,224,480
U.S. Treasury 1.875% 2022 8,000,000 7,884,720
U.S. Treasury 2.00% 2022 25,000,000 24,776,250
U.S. Treasury 2.00% 2024 12,000,000 11,784,840
U.S. Treasury 2.00% 2024 7,500,000 7,357,050
U.S. Treasury 2.00% 2025 44,800,000 43,727,936
U.S. Treasury 2.00% 2026 8,000,000 7,748,160
U.S. Treasury 2.125% 2023 15,250,000 15,127,848
U.S. Treasury 2.125% 2024 52,500,000 51,985,500
U.S. Treasury 2.125% 2024 10,250,000 10,121,875
U.S. Treasury 2.125% 2024 15,500,000 15,318,340
U.S. Treasury 2.125% 2024 10,000,000 9,898,800
U.S. Treasury 2.25% 2021 9,730,000 9,789,548
U.S. Treasury 2.25% 2023 5,000,000 4,991,400
U.S. Treasury 2.25% 2024 5,000,000 4,989,450
U.S. Treasury 2.25% 2024 15,500,000 15,429,165
U.S. Treasury 2.25% 2027 126,075,000 124,535,624
U.S. Treasury 2.25% 2027 47,000,000 46,361,270
U.S. Treasury 2.375% 2024 70,000,000 70,235,200
U.S. Treasury 2.375% 2027 880,000 878,161
U.S. Treasury 2.50% 2024 700,000 707,987
U.S. Treasury 2.50% 2046 5,000,000 4,760,150
U.S. Treasury 2.75% 2047 33,400,000 33,447,094
U.S. Treasury 2.875% 2046 147,158,000 150,997,352
U.S. Treasury 3.00% 2047 70,000,000 73,620,400
U.S. Treasury 3.00% 2047 28,460,000 29,927,398
U.S. Treasury 3.50% 2018 20,000,000 20,052,000
U.S. Treasury 4.75% 2041 15,000,000 20,369,550
U.S. Treasury Inflation-Protected Security 0.125% 2021 38,923,676 38,767,494
U.S. Treasury Inflation-Protected Security 0.125% 2024 675,233 667,235
U.S. Treasury Inflation-Protected Security 0.125% 2026 20,580,800 20,112,800
U.S. Treasury Inflation-Protected Security 0.25% 2025 1,661,049 1,646,278
U.S. Treasury Inflation-Protected Security 0.375% 2025 15,966,149 15,991,998
U.S. Treasury Inflation-Protected Security 0.375% 2027 18,125,058 17,996,512
U.S. Treasury Inflation-Protected Security 0.375% 2027 5,041,800 5,015,820
U.S. Treasury Inflation-Protected Security 0.625% 2024 215,857,417 219,604,711
U.S. Treasury Inflation-Protected Security 0.625% 2026 23,123,678 23,491,928
U.S. Treasury Inflation-Protected Security 0.75% 2042 18,764,402 18,953,710
U.S. Treasury Inflation-Protected Security 0.875% 2047 15,327,450 15,928,200
U.S. Treasury Inflation-Protected Security 1.00% 2046 5,205,100 5,559,800
U.S. Treasury Inflation-Protected Security 1.375% 2044 135,762,306 156,815,552
U.S. Treasury Inflation-Protected Security 2.375% 2025 196,287 223,677
UBS Group AG 4.125% 2025 2,750,000 2,888,160
UDR, Inc. 2.95% 2026 1,510,000 1,453,565
US Bancorp 2.375% 2026 6,500,000 6,125,197
US Bancorp 3.15% 2027 10,500,000 10,528,802
US Bancorp. 2.625% 2022 1,805,000 1,816,178
US Bancorp. 3.70% 2024 7,000,000 7,356,139
Ultra Petroleum Corp. 6.875% 2022 3,310,000 3,330,688
Ultra Petroleum Corp. 7.125% 2025 1,775,000 1,777,219
UniCredit SPA 3.75% 2022 8,350,000 8,503,415
UniCredit SPA 4.625% 2027 3,125,000 3,302,503
UniCredit SPA 5.861% 2032 3,050,000 3,255,902
Unisys Corp. 10.75% 2022 3,125,000 3,507,813
United Technologies Corp. 3.125% 2027 7,000,000 7,010,752
Vale SA 6.25% 2026 3,340,000 3,877,740
Valeant Pharmaceuticals International, Inc. 6.125% 2025 13,500,000 12,403,125
Valeant Pharmaceuticals International, Inc. 6.375% 2020 12,165,000 12,317,063
Valeant Pharmaceuticals International, Inc. 9.00% 2025 1,405,000 1,467,804
Venator Materials Corp. 5.75% 2025 1,060,000 1,123,600
Verizon Communications Inc. 2.946% 2022 2,940,000 2,960,459
Verizon Communications Inc. 4.125% 2046 4,228,000 3,918,155
Verizon Communications Inc. 4.50% 2033 3,500,000 3,678,948
Verizon Owner Trust, Series 2016-2A, Class A, 1.68% 2021 5,925,000 5,886,091
Verizon Owner Trust, Series 2017-1A, Class A, 2.06% 2021 8,215,000 8,197,198
Verizon Owner Trust, Series 2017-2A, Class A, 1.92% 2021 7,900,000 7,850,317
Vine Oil & Gas LP 8.75% 2023 2,500,000 2,431,250
Virgin Australia Holdings Ltd. 8.50% 2019 2,500,000 2,606,875
Virginia Electric and Power Co. 2.95% 2026 1,700,000 1,686,453
Virginia Electric and Power Co. 3.50% 2027 4,300,000 4,453,024
Visa Inc. 2.75% 2027 1,620,000 1,599,918
Visa Inc. 2.80% 2022 2,000,000 2,030,380
Visa Inc. 3.15% 2025 10,000,000 10,230,860
Volkswagen Auto Loan Enhanced Trust, Series 2014-2, Class A3 0.95% 2019 246,307 246,232
WEA Finance LLC 2.70% 2019 200,000 201,139
WEA Finance LLC 3.25% 2020 4,105,000 4,179,259
Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class AM, 6.011% 2051 1,565,799 1,563,592
Wal-Mart Stores, Inc. 2.65% 2024 6,250,000 6,229,669
Walgreens Boots Alliance, Inc. 3.30% 2021 7,000,000 7,122,262
Warrior Met Coal, Inc. 8.00% 2024 975,000 1,009,125
Weatherford International PLC 4.50% 2022 2,670,000 2,429,700
Weatherford International PLC 6.50% 2036 7,595,000 6,284,863
Weatherford International PLC 6.75% 2040 7,825,000 6,455,625
Weatherford International PLC 8.25% 2023 5,500,000 5,568,750
Wells Fargo & Co. 2.50% 2021 7,500,000 7,499,280
Wells Fargo & Co. 2.625% 2022 3,000,000 2,985,384
Wells Fargo & Co. 3.584% 2028 4,425,000 4,515,155
Western Gas Partners LP 4.65% 2026 925,000 962,954
Westfield Corp. Ltd. 3.15% 2022 5,615,000 5,671,841
Westlake Automobile Receivables Trust, Series 2017-1A, Class A2, 1.78% 2020 760,535 760,076
Westlake Chemical Corp. 4.375% 2047 2,915,000 3,037,147
Westpac Banking Corp. 2.15% 2020 12,000,000 11,949,660
Westpac Banking Corp. 2.75% 2023 3,500,000 3,494,813
Wheels SPV 2 LLC, Series 2016-1A, Class A2, 1.59% 2025 610,670 609,116
Williams Companies, Inc. 3.70% 2023 2,620,000 2,620,000
Williams Partners LP 3.60% 2022 1,500,000 1,535,625
Williams Partners LP 4.30% 2024 160,000 167,763
Wind Tre SpA 5.00% 2026 3,925,000 3,752,300
Windstream Holdings, Inc. 8.75% 2024 10,822,000 7,615,983
World Financial Network Credit Card Master Note Trust, Series 2012-A, Class A, 3.14% 2023 14,170,000 14,346,445
World Financial Network Credit Card Master Note Trust, Series 2016-B, Class A, 1.44% 2022 4,000,000 3,988,640
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 4,018,000 4,103,383
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 1,025,000 1,040,375
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 4,425,000 4,568,813
Ziggo Bond Finance BV 5.50% 2027 9,150,000 9,161,438
Zimmer Holdings, Inc. 3.15% 2022 6,070,000 6,089,940
iHeartCommunications, Inc. 9.00% 2019 8,920,000 6,667,700
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
AAC Technologies Holdings Inc. 8,000,000 142,276,017 0.55
ASML Holding NV (New York registered) 2,502,100 434,915,022 1.69
AT&T Inc. 2,000,000 77,760,000 0.30
AbbVie Inc. 575,000 55,608,250 0.22
Aetna Inc. 1,600,000 288,624,000 1.12
Alphabet Inc., Class A 83,000 87,432,200 0.34
Alphabet Inc., Class C 133,985 140,201,904 0.55
Amazon.com, Inc. 160,225 187,378,331 0.73
American Tower Corp. REIT 479,100 68,353,197 0.27
Amphenol Corp., Class A 1,300,000 114,140,000 0.44
Apple Inc. 750,000 126,922,500 0.49
Arch Capital Group Ltd. 2,632,000 238,906,640 0.93
Associated British Foods PLC 4,600,000 174,875,592 0.68
Associated Materials, LLC, 14.0% convertible preferred 2020 5,000 5,724,500 0.02
Associated Materials, LLC, warrants 2023 71,030 0 0.00
AstraZeneca PLC (ADR) 1,251,300 43,420,110 0.17
Atrium Corp. 535 15,815 0.00
BNP Paribas SA 1,500,000 111,860,882 0.44
Bank of America Corp. 7,000,000 206,640,000 0.81
Berkshire Hathaway Inc., Class A 84 24,998,401 0.10
Blackstone Group LP 1,510,000 48,350,200 0.19
Boeing Co. 1,239,000 365,393,490 1.42
Bristol-Myers Squibb Co. 978,000 59,931,840 0.23
British American Tobacco PLC 2,357,400 159,101,945 0.62
Broadcom Ltd. 1,245,000 319,840,500 1.25
CBS Corp., Class B 1,000,000 59,000,000 0.23
CEVA Group PLC 6,142 2,948,371 0.01
CEVA Group PLC, Series A-1, convertible preferred, (3-month USD-LIBOR + 3.00%) 0% 6,267 4,182,922 0.02
CEVA Group PLC, Series A-2, convertible preferred, (3-month USD-LIBOR + 2.00%) 0% 5,998 2,879,256 0.01
Cabot Oil & Gas Corp. 3,000,000 85,800,000 0.33
Capital One Financial Corp. 1,000,000 99,580,000 0.39
Charter Communications, Inc., Class A 138,126 46,404,811 0.18
Chevron Corp. 1,279,750 160,211,903 0.62
Chubb Ltd. 2,410,000 352,173,300 1.37
Citigroup Inc. 2,750,000 204,627,500 0.80
Coca-Cola Co. 307,700 14,117,276 0.06
Colgate-Palmolive Co. 1,000,000 75,450,000 0.29
Comcast Corp., Class A 9,350,000 374,467,500 1.46
Concho Resources Inc. 500,000 75,110,000 0.29
ConocoPhillips 250,000 13,722,500 0.05
Corporate Risk Holdings Corp. 854 0 0.00
Corporate Risk Holdings I, Inc. 168,812 2,984,596 0.01
Crown Castle International Corp. REIT 705,000 78,262,050 0.30
DowDuPont Inc. 5,877,000 418,559,940 1.63
Enbridge Inc. 52,155 1,998,935 0.01
Enbridge Inc. 2,242,200 87,692,442 0.34
Enbridge Inc. 47,742 1,867,141 0.01
Express Scripts Holding Co. 3,100,000 231,384,000 0.90
Extraction Oil & Gas, Inc. 3,000,000 42,930,000 0.17
Facebook, Inc., Class A 1,385,000 244,397,100 0.95
First Republic Bank 2,480,000 214,867,200 0.84
Fiserv, Inc. 350,000 45,895,500 0.18
Franco-Nevada Corp. 290,918 23,250,296 0.09
General Motors Co. 3,500,000 143,465,000 0.56
Gilead Sciences, Inc. 1,500,000 107,460,000 0.42
Goldman Sachs Group, Inc. 275,000 70,059,000 0.27
HDFC Bank Ltd. 297,000 8,782,821 0.03
Halliburton Co. 1,500,000 73,305,000 0.29
Home Depot, Inc. 1,500,000 284,295,000 1.11
Humana Inc. 965,000 239,387,550 0.93
IDEX Corp. 406,100 53,593,017 0.21
Incyte Corp. 764,450 72,401,060 0.28
Intel Corp. 6,945,000 320,581,200 1.25
Intuit Inc. 1,100,000 173,558,000 0.68
JPMorgan Chase & Co. 2,600,000 278,044,000 1.08
Johnson & Johnson 2,850,000 398,202,000 1.55
Lockheed Martin Corp. 1,262,000 405,165,100 1.58
LyondellBasell Industries NV 2,200,000 242,704,000 0.95
Mastercard Inc., Class A 57,000 8,627,520 0.03
McDonald's Corp. 95,000 16,351,400 0.06
Merck & Co., Inc. 2,170,300 122,122,781 0.48
Microsoft Corp. 10,520,000 899,880,800 3.51
Molina Healthcare, Inc. 1,500,000 115,020,000 0.45
Mondelez International, Inc. 1,025,000 43,870,000 0.17
NII Holdings, Inc. 690,145 292,829 0.00
NIKE, Inc., Class B 1,980,000 123,849,000 0.48
Nestlé SA 2,908,230 249,910,396 0.97
Nestlé SA (ADR) 900,000 77,373,000 0.30
Netflix, Inc. 181,000 34,744,760 0.14
Newell Brands Inc. 7,168,500 221,506,650 0.86
Newmont Mining Corp. 380,000 14,257,600 0.06
Noble Energy, Inc. 10,500,000 305,970,000 1.19
Nucor Corp. 1,750,000 111,265,000 0.43
PNC Financial Services Group, Inc. 708,000 102,157,320 0.40
Philip Morris International Inc. 2,375,000 250,918,750 0.98
Praxair, Inc. 355,000 54,911,400 0.21
Public Storage REIT 300,000 62,700,000 0.24
Regeneron Pharmaceuticals, Inc. 220,467 82,886,773 0.32
RenaissanceRe Holdings Ltd. 329,500 41,381,905 0.16
RingCentral, Inc., Class A 1,415,000 68,486,000 0.27
Rotech Healthcare Inc. 184,138 368,276 0.00
Royal Dutch Shell PLC, Class B (ADR) 2,412,000 164,715,480 0.64
Royal Gold, Inc. 695,000 57,073,400 0.22
Schlumberger Ltd. 660,000 44,477,400 0.17
Simon Property Group, Inc. REIT 700,000 120,218,000 0.47
Starbucks Corp. 1,339,700 76,938,971 0.30
SunTrust Banks, Inc. 510,000 32,940,900 0.13
Symantec Corp. 5,000,000 140,300,000 0.55
Taiwan Semiconductor Manufacturing Co., Ltd. 8,600,000 66,082,953 0.26
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) 15,001,000 594,789,650 2.32
TransDigm Group Inc. 75,000 20,596,500 0.08
UnitedHealth Group Inc. 2,542,000 560,409,320 2.18
VF Corp. 2,250,000 166,500,000 0.65
VeriSign, Inc. 3,140,000 359,341,600 1.40
Verizon Communications Inc. 400,000 21,172,000 0.08
Visa Inc., Class A 1,150,200 131,145,804 0.51
Waste Management, Inc. 214,000 18,468,200 0.07
Weatherford International PLC 56,000,000 233,520,000 0.91
Wells Fargo & Co. 3,406,400 206,666,288 0.81
Western Digital Corp. 2,100,000 167,013,000 0.65

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

*
Excludes certain securities in initial period of acquisition.