Strategy
Global Aggregate Bond
The Global Aggregate Strategy (USD) Bond Composite is comprised of portfolios that seek current income and capital appreciation primarily through investment in fixed income securities issued by governments and other investment grade entities. Below investment grade issues including high yield and emerging debt securities are also permitted. The use of derivatives, including futures and options, is also permitted.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
3.67%
1.06%
Data as of 31-Dec-2019
Data as of 31-Dec-2019
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
5.58%
0.26
Data as of 31-Dec-2019
Data as of 31-Dec-2019
Inception Date 31-May-2006
Performance figures calculated in USD
Other Literature
- This product's strategy also available as
- a SICAV
Strategy
Investment Approach
- To generate consistent performance over benchmark by exploiting inefficiencies in the full universe of the global fixed income and currency markets:
- Focus on successful alpha generation.
- Importance of effective risk management.
- Target value added: 100-200 basis points per annum above benchmark over full economic cycle. (Not a formal objective and it can be changed without prior notice.)
- Target average tracking error: Between 150 basis points and 300 basis points per annum.
- Alpha generation classified under three main performance activities:
- Currency Management: 35% Expected contribution to value added
- Country/Duration Management: 35% Expected contribution to value added
- Sector Allocation / Issue selection: 30%
Portfolio Construction
- Currency limit: maximum +/- 40% relative to benchmark
- Weighted duration limit: maximum +/- 3 years relative to benchmark
- Sub-investment grade: maximum 20%
- Above investment grade: not restricted (includes corporates and emerging markets)
- Portfolio holdings: between 400 and 600 issuers
- Average credit quality: A- or better
Performance
Global Aggregate Strategy (USD) Bond Composite
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 5.90% | 3.98% | 2.58% | 3.06% |
| Composite Net % | 5.58% | 3.67% | 2.28% | 2.75% |
| Benchmark % | 6.84% | 4.27% | 2.31% | 2.48% |
| Excess Return (Gross) % | -0.94% | -0.29% | 0.27% | 0.58% |
Recent Performance
| 3 MonthsData as of 31-Dec-2019 | Year to DateData as of 31-Dec-2019 | |
|---|---|---|
| Composite Gross % | -0.27% | 5.90% |
| Composite Net % | -0.35% | 5.58% |
| Benchmark % | 0.49% | 6.84% |
| Excess Return (Gross) % | -0.76% | -0.94% |
Returns for time periods greater than one year are annualised.
Past performance is not a reliable indicator of future performance.
Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.
Holdings
Holdings
Total
Holdings
506
Largest Holding
Japan Government Five Year Bond
13.63%
Was
(30-Sep-2019) 0.00%
Top 10 Holdings 39.43%
Quality Rating View quality analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Quality Rating | NOT RATED | A |
| By % | 17.00% | -12.57% |
| Portfolio | 22.78% | 11.97% |
| Benchmark | 5.78% | 24.54% |
Average Credit Quality
AA-Maturity View maturity analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Maturity | 3-5 Years | 1-3 Years |
| By % | 7.64% | -8.71% |
| Portfolio | 29.20% | 13.40% |
| Benchmark | 21.56% | 22.11% |
Weighted Average Maturity
9.87 YearsDuration View duration analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Duration | 3-5 Years | 1-3 Years |
| By % | 7.46% | -10.42% |
| Portfolio | 31.44% | 17.30% |
| Benchmark | 23.98% | 27.72% |
Weighted Average Duration
6.89 YearsSectors
Total
Sectors
6
Largest Sector
Government
66.78%
Was (30-Sep-2019)
65.52%
Other
View complete Sector Diversification
Largest Overweight
Government
By8.82%
Portfolio
66.78%
Benchmark
57.96%
Largest Underweight
Agency/Supranationals
By-8.26%
Portfolio
0.32%
Benchmark
8.57%
Countries
Total
Countries
45
Largest Country
United States
33.94%
Was (30-Sep-2019)
34.52%
Other
View complete Country Diversification
Largest Overweight
Japan
By3.52%
Portfolio
19.48%
Benchmark
15.96%
Largest Underweight
France
By-3.26%
Portfolio
2.49%
Benchmark
5.75%
Currency
Total
Currencies
31
Largest Currency
U.S. dollar
43.90%
Was (30-Sep-2019)
46.49%
Other
View complete Currency Diversification
Largest Overweight
Israeli shekel
By
1.50%
Portfolio
1.63%
Benchmark
0.13%
Largest Underweight
Offshore Chinese renminbi
By
-3.78%
Portfolio
-3.78%
Benchmark
0.00%
Team (As of 06-Feb-2020)
Arif Husain is head of International Fixed Income at T. Rowe Price. He is lead portfolio manager for the Dynamic Global Bond Strategies. Mr. Husain is also co-portfolio manager for the firm's International Bond, Global Aggregate Bond and Institutional International Bond Strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Husain has 24 years of investment experience, six of which have been with T. Rowe Price. Prior to joining the firm in 2013, he spent 14 years as director of both European Fixed Income and Euro Portfolio Management at AllianceBernstein. He was also a member of the global fixed income and absolute return portfolio management teams. Mr. Husain previously worked as assistant director of European Derivatives Trading at Greenwich NatWest and also traded interest rate swaps at Bank of America National Trust & Savings Association.
Mr. Husain received a B.Sc. (hons.) in banking and international finance from the City University, London Business School. He also has earned the Chartered Financial Analyst designation.
- Portfolio manager2014
since - Years at6
T. Rowe Price - Years investment24
experience
Quentin Fitzsimmons is a senior portfolio manager in the Fixed Income Division of T. Rowe Price and a member of the global fixed income investment team. He is co-portfolio manager for the Global Aggregate Bond Strategy. He is actively involved in the discussion around country and duration positioning, currency management and sector allocation, with a particular expertise in interest rate management.
Mr. Fitzsimmons has 28 years of investment experience, four of which have been with T. Rowe Price. Prior to joining the firm in 2015, Mr. Fitzsimmons was head of liquidity portfolio investment management, Treasury markets, for the Royal Bank of Scotland Group, where he managed the liquid fixed income "tier one" capital on its balance sheet on an absolute return basis. Previously, he also worked as head of rates and as executive director of fixed income for Threadneedle Investments, where he ran global fixed income portfolios from 2002 to 2012. Prior to Threadneedle he held various fixed income portfolio management and research roles with F&C Investments, the Equitable Life Assurance Society and Sun Life Assurance Company of Canada.
Mr. Fitzsimmons earned a B.Sc. in economics and economic history from the University of Bristol.
- Portfolio manager2015
since - Years at4
T. Rowe Price - Years investment28
experience
Steve Huber is a portfolio manager in the Fixed Income Division at T. Rowe Price. Mr. Huber has lead portfolio management responsibilities for the Global and Institutional Global Multi-Sector Bond Strategies. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Mr. Huber has 31 years of investment experience, 11 of which have been at T. Rowe Price. Prior to joining the firm in 2006, he was chief investment officer for the Maryland State Retirement and Pension System. Prior to that, Mr. Huber spent over 15 years in money management as a director of fixed income, director of asset allocation/quantitative strategy, and portfolio manager with Aeltus Investment Management. He also served as an actuarial assistant with pension consulting firm William Mercer, Inc.
Mr. Huber earned a B.S. in mathematics from Virginia Tech and an M.B.A. from the University of North Carolina at Chapel Hill. He is a member of Phi Beta Kappa and is a Fellow of the Society of Actuaries. Mr. Huber also has earned the Chartered Financial Analyst designation.
- Portfolio manager2014
since - Years at13
T. Rowe Price - Years investment32
experience
Ju Yen Tan is a senior portfolio manager in the Fixed Income Division at T. Rowe Price and a member of the Global Fixed Income Investment Team, with a specific responsibility for leading the dollar bloc research. Since joining the firm in 2004, he has led the application of the risk and attribution analysis in global/international fixed income portfolios. He also chairs the T. Rowe Price Foreign Exchange Governance Committee. Mr. Tan is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Tan has 23 years of investment experience, 15 of which have been with T. Rowe Price. Before joining the firm, he was a global fixed income and currency manager at WestLB Asset Management (WestAM). Prior to joining WestAM, Mr. Tan spent five years with Rothschild Asset Management in the fixed income and currency group.
Mr. Tan has an M.Eng. in engineering, economics and management from Oxford University.
- Portfolio manager2014
since - Years at15
T. Rowe Price - Years investment23
experience
Kenneth Orchard is a senior portfolio manager in the Fixed Income Division of T. Rowe Price and a member of the Global Fixed Income Investment team, with responsibility for cochairing the Fixed Income Sector Strategy Advisory Group . He is the portfolio manager for the Global Multi-Sector Bond and Diversified Income Bond Strategies and co-portfolio manager for the International Bond Strategies . He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Orchard has 15 years of investment experience, eight of which have been with T. Rowe Price. Prior to joining the firm in 2010, he worked as a senior credit officer for the Sovereign Risk Group at Moody's Investors Service, where he helped design and review its sovereign rating methodology. Mr. Orchard also worked as a senior economist for Emerging Market Economics in London and as an assistant portfolio manager for HSBC Asset Management in Vancouver.
Mr. Orchard earned a B.A. in international relations from the University of British Columbia and an M.Sc. in public financial policy from the London School of Economics. He also has earned the Chartered Financial Analyst designation.
- Portfolio manager2014
since - Years at9
T. Rowe Price - Years investment16
experience
Andrew Keirle is a senior portfolio manager in the Fixed Income Division and a member of the Global Fixed Income Investment Team. Mr. Keirle is the lead portfolio manager for the Emerging Markets Local Currency Bond Strategy and has important input on a number of emerging markets bond strategies and global fixed income strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Keirle has 23 years of investment experience, 14 of which have been with T. Rowe Price. Prior to joining the firm in 2005, he was a portfolio manager and analyst at Lazard Asset Management. Prior to joining Lazard, Mr. Keirle spent seven years as a global portfolio manager at Gulf International Bank in London.
Mr. Keirle is a qualified member of the Institute of Investment Management and Research, and he also holds a diploma from the Society of Technical Analysts. He graduated with a B.Sc. in economics and politics from the University of Swansea at the University of Wales.
- Portfolio manager2015
since - Years at14
T. Rowe Price - Years investment23
experience
Stephane Fertat is a fixed income portfolio specialist for T. Rowe Price. He is a member of the Global Fixed Income team, supporting all global/international fixed income strategies. He represents the portfolio management team, presenting strategies as well as market outlooks in meetings and conferences. Mr. Fertat has broad knowledge of fixed income, currency, credit and derivative instruments - leading him to assist in the development of customized fixed income solutions - and he has helped launch a number of new strategies since joining the firm in 2007. Mr. Fertat is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Fertat has 22 years of investment experience, 12 of which have been at T. Rowe Price. Prior to joining the firm in 2007, he was employed by Fischer Francis Trees and Watts, a global fixed income asset management company, where he worked as a European fixed income fund manager before moving to a product manager role. Mr. Fertat was also a director of client service and business development for Southern Europe and worked previously at Societe Generale Fimat Investment Management in Chicago.
Mr. Fertat holds a master's degree in finance from Ecole Superieure de Commerce de Paris (ESCP-EAP). He also has earned the Chartered Financial Analyst designation.
- Years at12
T. Rowe Price - Years investment22
experience
Portfolio Characteristics
Representative Portfolio vs Benchmarkas of 31-Dec-2019
| Characteristic | Portfolio | Benchmark |
|---|---|---|
| Weighted Average Coupon | 2.76% | 2.74% |
| Weighted Average Maturity | 9.87 Years | 8.87 Years |
| Weighted Average Duration | 6.89 Years | 7.05 Years |
| Number of Holdings | 504 | 24,724 |
Risks
- China Interbank Bond Market risk
- Country risk (China)
- Country risk (Russia and Ukraine)
- Credit risk
- Currency risk
- Default risk
- Derivatives risk
- Emerging markets risk
- Interest rate risk
- Issuer concentration risk
- Liquidity risk
- Prepayment and extension risk
- Sector concentration risk
- Capital risk
- Counterparty risk
- Geographic concentration risk
- Hedging risk
- Investment portfolio risk
- Management risk
- Operational risk
Risk/Return Characteristics
as of 31-Dec-2019Global Aggregate Strategy (USD) Bond Composite
| Risk/Return (5 Years) | Composite | Benchmark |
|---|---|---|
| Alpha | 0.27% | 0.00% |
| Beta | 1.00 | 1.00 |
| R-Squared | 0.95 | 1.00 |
| Annualized Std. Deviation | 4.58% | 4.45% |
| Information Ratio | 0.26 | 0.00 |
| Sharpe Ratio | 0.33 | 0.28 |
| Tracking Error | 1.06% | 0.00% |
Past performance is not a reliable indicator of future performance.
Statistics based on monthly gross returns. Returns would have been lower as a result of the deduction of applicable fees.
Calendar Year Performance
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7.37% | 4.81% | 7.11% | -2.40% | 1.15% | -2.25% | 3.35% | 7.05% | -0.82% | 5.90% | Composite Gross | |
| 7.05% | 4.50% | 6.79% | -2.69% | 0.85% | -2.54% | 3.04% | 6.73% | -1.11% | 5.58% | Composite Net | |
| 5.54% | 5.64% | 4.32% | -2.60% | 0.59% | -3.15% | 2.09% | 7.39% | -1.20% | 6.84% | Benchmark | |
| 1.51% | -1.14% | 2.47% | -0.09% | 0.26% | 0.61% | 0.95% | -0.66% | 0.09% | -1.26% | Value added (Gross) |
- Composite Gross
- Composite Net
- Benchmark
Top 10 Issuers (31-Dec-2019)
| Issuer Name | % of Portfolio | Sector | Industry |
|---|---|---|---|
| Japan | 19.33% | N/A | N/A |
| U.S. Treasuries | 13.92% | N/A | N/A |
| FNMA - Mortgages | 6.74% | N/A | N/A |
| People's Republic of China | 3.77% | N/A | N/A |
| Republic of Italy | 3.44% | N/A | N/A |
| GNMA | 3.29% | N/A | N/A |
| World Bank Group | 3.08% | N/A | N/A |
| United Kingdom of Great Britain and Northern Ireland | 2.02% | N/A | N/A |
| Canada | 1.99% | N/A | N/A |
| French Republic | 1.91% | N/A | N/A |
Issuers are as of the date indicated and are subject to change.
The total of the values in the second column in the table may not add up to the Top 10% of Total Net Assets quoted in the table due to rounding.
N/A indicates Not Available.
Quality (31-Dec-2019)
Representative Portfolio
vs Benchmark
| Quality Rating | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| US GOVERNMENT AGENCY SECURITIES | 10.34% | 11.27% | |
| AAA | 25.19% | 27.40% | |
| AA | 5.46% | 14.19% | |
| A | 11.97% | 24.54% | |
| BBB | 17.46% | 16.28% | |
| Below Investment Grade | 3.13% | 0.53% | |
| NOT RATED | 22.78% | 5.78% | |
| RESERVES | 3.67% | 0.00% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Sources: Moody's Investors Service; if Moody's does not rate a security, then Standard & Poor's (S&P) is used as a secondary source. When available, T. Rowe Price will use Fitch for securities that are not rated by Moody's or S&P. T. Rowe Price does not evaluate these ratings, but simply assigns them to the appropriate credit quality category as determined by the rating agency.
Maturity (31-Dec-2019)
Representative Portfolio
vs Benchmark
| Bond Maturity | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| 0-1 Years | 1.29% | 0.00% | |
| 1-3 Years | 13.40% | 22.11% | |
| 3-5 Years | 29.20% | 21.56% | |
| 5-7 Years | 12.85% | 18.09% | |
| 7-10 Years | 12.07% | 13.35% | |
| 10+ Years | 27.53% | 24.90% | |
| Cash Equivalents | 3.67% | 0.00% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Duration (31-Dec-2019)
Representative Portfolio
vs Benchmark
| Duration | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Under 1 Year | 0.55% | 0.22% | |
| 1-3 Years | 17.30% | 27.72% | |
| 3-5 Years | 31.44% | 23.98% | |
| 5-7 Years | 11.34% | 13.25% | |
| 7-10 Years | 10.63% | 12.32% | |
| Over 10 Years | 25.06% | 22.51% | |
| Cash Equivalents | 3.67% | 0.00% |
Duration is a measure of a bond portfolio's sensitivity to interest rate changes.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Holdings (31-Dec-2019)
| Company | % of Portfolio | Previous Qtr Change | Value (USD) | Shares/Par | Sector | Industry | Country | Coupon Rate (%) | Quality | Maturity Date | Duration (Yrs) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Japan Government Five Year Bond | 13.63% | N/A | $67,299,868.51 | 7,231,050,000 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 0.10% | NR | 20-Sep-2024 | 4.71 |
| U.S. Treasury Bonds | 6.21% | -1.11 | $30,660,056.02 | 26,478,000 | US Govt & Agencies | U S Treasury Obligations | United States | 3.13% | Aaa | 15-May-2048 | 19.85 |
| U.S. Treasury Notes | 3.83% | 3.15 | $18,896,027.30 | 18,300,000 | US Govt & Agencies | U S Treasury Obligations | United States | 2.25% | Aaa | 31-Mar-2026 | 5.80 |
| China Government Bond | 3.56% | 0.89 | $17,569,284.33 | 117,150,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.54% | NR | 16-Aug-2028 | 7.38 |
| U.S. Treasury Bonds | 2.25% | -0.22 | $11,129,855.33 | 9,350,000 | US Govt & Agencies | U S Treasury Obligations | United States | 3.38% | Aaa | 15-May-2044 | 17.64 |
| Japan Government Five Year Bond | 2.18% | N/A | $10,788,621.62 | 1,166,400,000 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 0.10% | A1 | 20-Dec-2021 | 1.97 |
| International Finance | 2.02% | -0.14 | $9,976,610.23 | 690,000,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 7.45% | Aaa | 08-Nov-2021 | 1.70 |
| Federal National Mortgage Assn. | 1.96% | -0.24 | $9,671,025.62 | 8,958,549 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2048 | 1.92 |
| French Republic Government Bond OAT | 1.91% | N/A | $9,450,401.84 | 6,900,000 | Government | Foreign Govt & Muni (Excl Canadian) | France | 1.75% | Aa2 | 25-Jun-2039 | 17.13 |
| United Kingdom Gilt | 1.88% | 1.01 | $9,261,827.34 | 6,693,000 | Government | Foreign Govt & Muni (Excl Canadian) | United Kingdom | 1.50% | Aa2 | 22-Jul-2047 | 22.89 |
| Italy Buoni Poliennali del Tesoro | 1.70% | -0.06 | $8,386,779.96 | 6,900,000 | Government | Foreign Govt & Muni (Excl Canadian) | Italy | 2.45% | NR | 01-Oct-2023 | 3.59 |
| Italy Buoni Poliennali del Tesoro | 1.64% | -0.10 | $8,078,566.68 | 5,845,000 | Government | Foreign Govt & Muni (Excl Canadian) | Italy | 3.45% | Baa3 | 01-Mar-2048 | 19.14 |
| Thailand Government Bond | 1.59% | 0.28 | $7,834,499.14 | 222,850,000 | Government | Foreign Govt & Muni (Excl Canadian) | Thailand | 2.40% | NR | 17-Dec-2023 | 3.78 |
| Canadian Government Bond | 1.58% | -1.19 | $7,805,224.53 | 9,900,000 | Government | Canadian Govts & Municipalities | Canada | 2.00% | Aaa | 01-Jun-2028 | 7.72 |
| Federal National Mortgage Assn. | 1.42% | -0.12 | $7,029,133.99 | 6,842,695 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2046 | 4.36 |
| Japan Government Thirty Year Bond | 1.37% | -1.19 | $6,740,567.52 | 660,100,000 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 0.80% | A1 | 20-Jun-2047 | 25.39 |
| Japan Government Forty Year Bond | 1.10% | 0.03 | $5,448,713.09 | 448,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 1.40% | A1 | 20-Mar-2055 | 29.46 |
| Japan Government Ten Year Bond | 1.05% | -0.06 | $5,162,416.03 | 546,650,000 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 0.90% | A1 | 20-Jun-2022 | 2.45 |
| Indonesia Treasury Bond | 1.01% | N/A | $5,002,657.94 | 68,900,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Indonesia | 7.00% | NR | 15-Sep-2030 | 7.43 |
| U.S. Treasury Bonds | 0.87% | -0.09 | $4,314,473.56 | 3,430,000 | US Govt & Agencies | U S Treasury Obligations | United States | 3.75% | Aaa | 15-Nov-2043 | 17.03 |
| Malaysia Government Bond | 0.86% | 0.20 | $4,259,042.13 | 16,800,000 | Government | Foreign Govt & Muni (Excl Canadian) | Malaysia | 3.80% | A3 | 17-Aug-2023 | 3.33 |
| Ireland Government Bond | 0.83% | N/A | $4,079,283.79 | 3,215,000 | Government | Foreign Govt & Muni (Excl Canadian) | Ireland | 1.35% | A2 | 18-Mar-2031 | 10.53 |
| U.S. Treasury Bonds | 0.75% | N/A | $3,724,000.00 | 3,800,000 | US Govt & Agencies | U S Treasury Obligations | United States | 1.63% | Aaa | 15-Aug-2029 | 8.85 |
| Indonesia Treasury Bond | 0.73% | -1.73 | $3,629,020.41 | 46,823,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Indonesia | 8.13% | NR | 15-May-2024 | 3.66 |
| International Finance | 0.73% | N/A | $3,620,843.49 | 254,000,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 6.30% | Aaa | 25-Nov-2024 | 4.16 |
| Sweden Government Bond | 0.70% | 0.20 | $3,446,462.87 | 20,465,000 | Government | Foreign Govt & Muni (Excl Canadian) | Sweden | 3.50% | Aaa | 30-Mar-2039 | 15.38 |
| Russian Federal Bond - ofZ | 0.69% | N/A | $3,425,853.40 | 201,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Russia | 6.90% | NR | 23-May-2029 | 6.95 |
| Kingdom of Belgium Government Bond | 0.66% | N/A | $3,268,037.05 | 2,580,000 | Government | Foreign Govt & Muni (Excl Canadian) | Belgium | 1.25% | NR | 22-Apr-2033 | 12.47 |
| Government National Mortgage Assn. | 0.65% | -0.10 | $3,204,485.16 | 2,974,543 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jan-2048 | 1.96 |
| Israel Government Bond - Fixed | 0.65% | -0.00 | $3,200,561.71 | 7,745,000 | Government | Foreign Govt & Muni (Excl Canadian) | Israel | 3.75% | NR | 31-Mar-2047 | 18.60 |
| Kreditanstalt fuer Wiederaufbau | 0.63% | N/A | $3,116,853.14 | 2,896,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | Germany | 0.05% | Aaa | 29-Sep-2034 | 14.93 |
| Republic of South Africa Government Bond | 0.54% | 0.03 | $2,681,648.86 | 38,860,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 8.00% | Baa3 | 31-Jan-2030 | 6.68 |
| Spain Government Bond | 0.53% | -0.02 | $2,602,974.51 | 2,120,000 | Government | Foreign Govt & Muni (Excl Canadian) | Spain | 1.40% | Baa1 | 30-Jul-2028 | 8.16 |
| Asian development Bank | 0.51% | N/A | $2,508,858.83 | 1,950,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 0.63% | Aaa | 15-Sep-2026 | 6.55 |
| Kreditanstalt fuer Wiederaufbau | 0.50% | N/A | $2,481,631.18 | 3,500,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | Germany | 1.50% | Aaa | 24-Jul-2024 | 4.37 |
| Asian development Bank | 0.50% | N/A | $2,478,075.13 | 3,350,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 2.45% | Aaa | 17-Jan-2024 | 3.81 |
| European Investment Bank | 0.49% | N/A | $2,439,383.26 | 1,860,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 0.75% | Aaa | 15-Nov-2024 | 4.78 |
| Republic of South Africa Government Bond | 0.48% | 0.02 | $2,359,739.42 | 36,493,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 8.75% | Baa3 | 28-Feb-2048 | 9.35 |
| Federal National Mortgage Assn. | 0.45% | N/A | $2,217,469.55 | 2,099,238 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jun-2049 | 2.61 |
| Federal National Mortgage Assn. | 0.45% | N/A | $2,209,574.10 | 2,145,414 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2034 | 3.15 |
| Federal National Mortgage Assn. | 0.44% | N/A | $2,182,847.67 | 2,158,119 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Nov-2034 | 3.70 |
| Canadian Government Bond | 0.41% | -0.03 | $2,036,771.64 | 2,150,000 | Government | Canadian Govts & Municipalities | Canada | 2.75% | Aaa | 01-Dec-2048 | 20.86 |
| Romanian Government International Bond | 0.41% | -0.01 | $2,010,494.10 | 1,735,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.12% | Baa3 | 16-Jul-2031 | 10.29 |
| Netherlands Government Bond | 0.39% | -0.02 | $1,914,011.87 | 1,580,000 | Government | Foreign Govt & Muni (Excl Canadian) | Netherlands | 0.75% | NR | 15-Jul-2028 | 8.35 |
| Bahamas Government International Bond | 0.36% | 0.14 | $1,798,896.00 | 1,600,000 | Asst Backed Securities | Foreign Govt & Muni (Excl Canadian) | Bahamas | 6.00% | Baa3 | 21-Nov-2028 | 6.26 |
| Romanian Government International Bond | 0.36% | 0.06 | $1,760,311.13 | 1,400,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 3.38% | Baa3 | 08-Feb-2038 | 13.66 |
| Leaseplan | 0.34% | N/A | $1,698,426.06 | 1,690,000 | Corporate Securities | Automotive | Netherlands | 2.88% | Baa1 | 24-Oct-2024 | 4.45 |
| Chile Government International Bond | 0.34% | N/A | $1,666,586.50 | 1,455,000 | Government | Foreign Govt & Muni (Excl Canadian) | Chile | 0.83% | A1 | 02-Jul-2031 | 10.97 |
| Federal National Mortgage Assn. | 0.34% | -0.03 | $1,666,062.23 | 1,621,950 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Jul-2046 | 4.36 |
| India Government Bond | 0.34% | N/A | $1,665,277.15 | 108,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | India | 7.95% | Baa2 | 28-Aug-2032 | 7.89 |
| Symrise | 0.33% | -0.01 | $1,653,437.26 | 1,415,000 | Corporate Securities | Chemicals | Germany | 1.25% | NR | 29-Nov-2025 | 5.58 |
| International Bank for Reconstruction & development | 0.33% | 0.00 | $1,636,017.28 | 1,241,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 0.88% | Aaa | 13-Dec-2024 | 4.84 |
| CVS Health | 0.32% | -0.01 | $1,600,812.49 | 1,520,000 | Corporate Securities | Retail | United States | 3.70% | Baa2 | 09-Mar-2023 | 2.91 |
| Cyprus Government International Bond | 0.32% | -0.53 | $1,582,672.33 | 1,125,000 | Government | Foreign Govt & Muni (Excl Canadian) | Cyprus | 2.75% | Ba2 | 26-Feb-2034 | 12.04 |
| Federal National Mortgage Assn. | 0.32% | -0.04 | $1,575,762.19 | 1,491,689 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Aug-2047 | 2.50 |
| Saudi Government International Bond | 0.31% | -0.02 | $1,517,826.10 | 1,260,000 | Government | Foreign Govt & Muni (Excl Canadian) | Saudi Arabia | 5.00% | A1 | 17-Apr-2049 | 16.59 |
| TRP SICAV EURO Corporate Bond-SD | 0.30% | -0.00 | $1,467,364.32 | 117,671 | Corporate Securities | Investment Companies - Bonds | Luxembourg | N/A | N/A | N/A | 4.87 |
| Altria | 0.30% | 0.10 | $1,464,694.61 | 1,270,000 | Corporate Securities | Food/Tobacco | United States | 1.00% | A3 | 15-Feb-2023 | 3.01 |
| Essilorluxottica | 0.30% | N/A | $1,459,522.21 | 1,300,000 | Corporate Securities | Healthcare | France | 0.38% | A2 | 27-Nov-2027 | 7.73 |
| Government National Mortgage Assn. | 0.29% | N/A | $1,423,897.80 | 1,402,339 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Sep-2049 | 3.45 |
| Government National Mortgage Assn. | 0.29% | -0.04 | $1,418,142.59 | 1,334,763 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Mar-2047 | 2.18 |
| Government National Mortgage Assn. | 0.28% | -0.07 | $1,402,537.64 | 1,326,444 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Jul-2048 | 1.13 |
| Tencent Holdings | 0.28% | -0.01 | $1,387,954.39 | 1,300,000 | Corporate Securities | Information Technology | China | 3.80% | A1 | 11-Feb-2025 | 4.59 |
| Spain Government Bond | 0.28% | -0.02 | $1,375,277.99 | 891,000 | Government | Foreign Govt & Muni (Excl Canadian) | Spain | 2.90% | Baa1 | 31-Oct-2046 | 20.46 |
| Government National Mortgage Assn. | 0.28% | -0.04 | $1,364,432.95 | 1,265,096 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Nov-2047 | 2.78 |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 0.27% | -0.01 | $1,343,236.27 | 1,280,000 | Corporate Securities | Financial | Ireland | 3.95% | Baa3 | 01-Feb-2022 | 1.90 |
| Nordea Hypotek | 0.27% | 0.00 | $1,329,862.33 | 12,100,000 | Mortgage Backed Securities | Non - Government Mortgages | Sweden | 1.00% | Aaa | 08-Apr-2022 | 2.23 |
| Morgan Stanley | 0.27% | -0.01 | $1,314,601.82 | 1,215,000 | Corporate Securities | Banking | United States | 3.63% | A3 | 20-Jan-2027 | 6.16 |
| Lloyds Bank | 0.26% | -0.00 | $1,272,970.31 | 1,810,000 | Corporate Securities | Banking | United Kingdom | 1.65% | Aa3 | 12-Aug-2022 | 2.53 |
| Fidelity National Information Services | 0.25% | 0.01 | $1,237,401.24 | 880,000 | Corporate Securities | Services | United States | 2.60% | Baa2 | 21-May-2025 | 4.84 |
| TRP SICAV European High Yield Bond-SD | 0.25% | 0.00 | $1,236,543.14 | 114,723 | Corporate Securities | Investment Companies - Bonds | Luxembourg | N/A | N/A | N/A | 2.12 |
| Bundesrepublik deutschland Bundesanleihe | 0.24% | -0.21 | $1,207,729.80 | 850,000 | Government | Foreign Govt & Muni (Excl Canadian) | Germany | 1.25% | Aaa | 15-Aug-2048 | 25.29 |
| Singapore Government Bond | 0.24% | -0.00 | $1,165,016.62 | 1,489,000 | Government | Foreign Govt & Muni (Excl Canadian) | Singapore | 3.13% | Aaa | 01-Sep-2022 | 2.54 |
| Costa Rica Government International Bond | 0.23% | -0.00 | $1,128,419.11 | 1,100,000 | Government | Foreign Govt & Muni (Excl Canadian) | Costa Rica | 4.25% | B1 | 26-Jan-2023 | 2.80 |
| Bank Of Ireland | 0.23% | -0.00 | $1,122,447.76 | 989,000 | Corporate Securities | Banking | Ireland | 0.75% | Baa2 | 08-Jul-2024 | 3.46 |
| Cpi Property | 0.23% | N/A | $1,121,705.69 | 1,010,000 | Corporate Securities | Real Estate Investment Trust Securities | Czech Republic | 1.63% | Baa2 | 23-Apr-2027 | 6.82 |
| Smb Private Education Loan Trust 2015 | 0.23% | -0.01 | $1,121,103.67 | 1,100,000 | Asst Backed Securities | Student Loans | United States | 3.50% | Aa2 | 15-Sep-2043 | 5.37 |
| Energy Transfer Operating | 0.23% | -0.01 | $1,115,896.92 | 985,000 | Corporate Securities | Oil Field Serv | United States | 5.88% | Baa3 | 15-Jan-2024 | 3.36 |
| Netherlands Government Bond | 0.22% | -0.01 | $1,062,899.27 | 627,000 | Government | Foreign Govt & Muni (Excl Canadian) | Netherlands | 5.50% | Aaa | 15-Jan-2028 | 6.76 |
| Diamondback Energy | 0.21% | -0.01 | $1,060,791.74 | 1,005,000 | Corporate Securities | Energy | United States | 5.38% | Ba1 | 31-May-2025 | 0.62 |
| Vereit Operating Partnership | 0.21% | -0.01 | $1,040,731.80 | 975,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 3.95% | Baa3 | 15-Aug-2027 | 6.41 |
| China Government Bond | 0.21% | -0.00 | $1,035,351.35 | 7,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.13% | NR | 13-Apr-2022 | 2.16 |
| WFRBS Commercial Mortgage Trust 2012-C6 | 0.21% | -0.01 | $1,020,995.01 | 975,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.70% | Aa1 | 15-Apr-2045 | 2.07 |
| Royal Bank Of Scotland | 0.20% | -0.01 | $1,007,984.45 | 925,000 | Corporate Securities | Banking | United Kingdom | 5.13% | Baa3 | 28-May-2024 | 3.95 |
| Ado Properties | 0.20% | -0.00 | $1,007,372.38 | 900,000 | Corporate Securities | Real Estate Investment Trust Securities | Germany | 1.50% | Baa3 | 26-Jul-2024 | 4.31 |
| Bunge Finance Europe BV | 0.20% | -0.00 | $980,183.10 | 835,000 | Corporate Securities | Food Processing | United States | 1.85% | Baa3 | 16-Jun-2023 | 3.15 |
| Cigna | 0.20% | -0.01 | $970,194.19 | 890,000 | Corporate Securities | Insurance | United States | 4.13% | Baa2 | 15-Nov-2025 | 5.12 |
| AbbVie | 0.19% | N/A | $962,598.12 | 940,000 | Corporate Securities | Drugs | United States | 3.20% | Baa2 | 21-Nov-2029 | 8.37 |
| BAMLL Commercial Mortgage Securities Trust 2018-DSNY | 0.19% | -0.01 | $948,842.23 | 950,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.59% | NR | 15-Sep-2034 | 0.03 |
| Bank of America | 0.19% | -0.01 | $944,591.00 | 900,000 | Corporate Securities | Banking | United States | 3.25% | A2 | 21-Oct-2027 | 6.42 |
| Government National Mortgage Assn. | 0.19% | -0.04 | $942,035.76 | 890,585 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Jun-2048 | 1.13 |
| Federal National Mortgage Assn. | 0.19% | N/A | $939,893.25 | 908,069 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Oct-2049 | 4.51 |
| UNITE | 0.19% | -0.00 | $934,563.22 | 650,000 | Corporate Securities | Real Estate Investment Trust Securities | United Kingdom | 3.50% | Baa2 | 15-Oct-2028 | 7.54 |
| Aib | 0.19% | -0.01 | $918,517.27 | 860,000 | Corporate Securities | Banking | Ireland | 4.26% | Baa2 | 10-Apr-2025 | 3.88 |
| Elanco Animal Health | 0.18% | -0.01 | $912,713.71 | 880,000 | Corporate Securities | Healthcare | United States | 3.91% | Baa3 | 27-Aug-2021 | 1.58 |
| Sabine Pass Liquefaction | 0.18% | -0.01 | $911,481.51 | 815,000 | Corporate Securities | Energy | United States | 5.00% | Baa3 | 15-Mar-2027 | 5.78 |
| Government National Mortgage Assn. | 0.18% | -0.04 | $904,696.36 | 865,188 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Oct-2048 | 1.39 |
| Charter Communications Operating LLC / Charter Communications Operating Capital | 0.18% | -0.01 | $904,655.52 | 805,000 | Corporate Securities | Cable Operators | United States | 4.91% | Ba1 | 23-Jul-2025 | 4.65 |
| Sempra Energy | 0.18% | -0.01 | $897,173.00 | 870,000 | Corporate Securities | Utilities | United States | 2.90% | Baa1 | 01-Feb-2023 | 2.86 |
| Government National Mortgage Assn. | 0.18% | N/A | $896,590.28 | 859,753 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Apr-2048 | 1.39 |
| HDFC Bank | 0.18% | -0.00 | $892,526.83 | 60,000,000 | Corporate Securities | Banking | India | 8.10% | Baa2 | 22-Mar-2025 | 4.07 |
| Volkswagen Leasing GmbH | 0.18% | -0.00 | $885,355.01 | 750,000 | Corporate Securities | Automotive | Germany | 1.63% | A3 | 15-Aug-2025 | 5.38 |
| Lennar | 0.18% | N/A | $882,937.04 | 815,000 | Corporate Securities | Building & Real Estate | United States | 4.75% | Ba1 | 30-May-2025 | 4.63 |
| Deutsche Bank AG/New York NY | 0.18% | -0.01 | $875,995.86 | 860,000 | Corporate Securities | Banking | Germany | 3.13% | Baa3 | 13-Jan-2021 | 1.00 |
| Government National Mortgage Assn. | 0.18% | -0.03 | $875,976.98 | 821,617 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Aug-2047 | 1.94 |
| General Motors Financial | 0.18% | -0.01 | $869,235.07 | 845,000 | Corporate Securities | Financial | United States | 3.20% | Baa3 | 06-Jul-2021 | 1.38 |
| Boral Finance Pty | 0.18% | -0.01 | $868,154.89 | 855,000 | Corporate Securities | Building Products | Australia | 3.75% | Baa2 | 01-May-2028 | 7.01 |
| Credit Suisse Group Funding Guernsey | 0.18% | -0.01 | $867,724.47 | 860,000 | Corporate Securities | Banking | Switzerland | 2.75% | Baa2 | 26-Mar-2020 | 0.23 |
| Woodside Finance | 0.17% | -0.00 | $857,360.32 | 816,000 | Corporate Securities | Exploration & Production | Australia | 3.70% | Baa1 | 15-Sep-2026 | 5.78 |
| Boardwalk Pipelines | 0.17% | -0.01 | $845,777.50 | 750,000 | Corporate Securities | Energy | United States | 5.95% | Baa3 | 01-Jun-2026 | 5.25 |
| Ford Motor Credit | 0.17% | -0.01 | $844,202.67 | 800,000 | Corporate Securities | Automotive | United States | 5.75% | Ba1 | 01-Feb-2021 | 1.03 |
| Government National Mortgage Assn. | 0.17% | N/A | $833,400.71 | 791,734 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Jun-2049 | 1.29 |
| Spain Government Bond | 0.17% | -0.01 | $827,707.69 | 460,000 | Government | Foreign Govt & Muni (Excl Canadian) | Spain | 3.45% | Baa1 | 30-Jul-2066 | 28.26 |
| State Grid Overseas Investment 2016 | 0.17% | -0.00 | $825,801.61 | 700,000 | Corporate Securities | Utilities | China | 1.38% | A1 | 02-May-2025 | 5.13 |
| Wintershall dea Finance BV | 0.17% | 0.00 | $825,410.14 | 700,000 | Corporate Securities | Energy | Germany | 1.82% | Baa2 | 25-Sep-2031 | 10.60 |
| Intesa Sanpaolo | 0.17% | -0.01 | $822,006.23 | 770,000 | Corporate Securities | Banking | Italy | 6.50% | Baa1 | 24-Feb-2021 | 1.09 |
| FCA Bank SpA/Ireland | 0.16% | -0.00 | $784,658.79 | 700,000 | Corporate Securities | Automotive | Italy | 0.50% | Baa1 | 13-Sep-2024 | 4.55 |
| Smb Private Education Loan Trust 2017 | 0.16% | -0.02 | $780,318.68 | 779,570 | Asst Backed Securities | Student Loans | United States | 2.64% | Aaa | 15-Sep-2034 | 0.04 |
| SMART ABS Series 2016-2US Trust | 0.16% | -0.01 | $774,164.94 | 775,000 | Asst Backed Securities | Auto Backed | Australia | 2.05% | Aaa | 14-Dec-2022 | 1.70 |
| Transurban Finance Co Pty | 0.16% | -0.01 | $773,917.06 | 653,000 | Corporate Securities | Transportation | Australia | 1.45% | Baa1 | 16-May-2029 | 8.70 |
| Micron Technology | 0.15% | -0.10 | $764,609.13 | 680,000 | Corporate Securities | Information Technology | United States | 4.66% | Baa3 | 15-Feb-2030 | 7.93 |
| Mizuho Financial | 0.15% | -0.01 | $761,873.99 | 725,000 | Corporate Securities | Banking | Japan | 3.55% | A1 | 05-Mar-2023 | 2.97 |
| Alexandria Real Estate Equities | 0.15% | -0.01 | $754,383.13 | 690,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 3.95% | Baa1 | 15-Jan-2028 | 6.71 |
| Vistra Operations | 0.15% | -0.00 | $746,382.40 | 720,000 | Corporate Securities | Utilities | United States | 3.55% | Baa3 | 15-Jul-2024 | 4.06 |
| Vistra Operations | 0.15% | N/A | $744,845.62 | 745,000 | Corporate Securities | Utilities | United States | 3.70% | Baa3 | 30-Jan-2027 | 6.12 |
| Federal National Mortgage Assn. | 0.15% | -0.02 | $728,471.41 | 673,214 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Mar-2046 | 3.49 |
| Morocco Government International Bond | 0.15% | -0.01 | $727,802.22 | 620,000 | Government | Foreign Govt & Muni (Excl Canadian) | Morocco | 4.50% | NR | 05-Oct-2020 | 0.76 |
| Heta Asset Resolution | 0.15% | -0.01 | $722,435.70 | 600,000 | Corporate Securities | Banking | Austria | 2.38% | Aa1 | 13-Dec-2022 | 2.88 |
| Caixabank | 0.15% | -0.00 | $721,241.67 | 600,000 | Corporate Securities | Banking | Spain | 2.75% | Ba1 | 14-Jul-2028 | 3.36 |
| Walgreens Boots Alliance | 0.15% | N/A | $720,995.23 | 615,000 | Corporate Securities | Retail | United States | 2.13% | Baa2 | 20-Nov-2026 | 6.32 |
| Verus Securitization Trust 2018-1 | 0.15% | -0.03 | $720,276.48 | 716,466 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.03% | NR | 25-Feb-2048 | 1.43 |
| United Kingdom Gilt | 0.14% | -2.23 | $714,934.44 | 537,000 | Government | Foreign Govt & Muni (Excl Canadian) | United Kingdom | 0.88% | Aa2 | 22-Oct-2029 | 9.44 |
| Towd Point Mortgage Trust 2018-2 | 0.14% | -0.01 | $713,738.00 | 697,406 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.25% | Aaa | 25-Mar-2058 | 2.77 |
| Federal National Mortgage Assn. | 0.14% | N/A | $712,146.05 | 718,122 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Dec-2049 | 5.94 |
| AbbVie | 0.14% | N/A | $708,446.71 | 695,000 | Corporate Securities | Drugs | United States | 2.95% | Baa2 | 21-Nov-2026 | 6.15 |
| FirstEnergy | 0.14% | -0.00 | $706,708.17 | 650,000 | Corporate Securities | Utilities | United States | 3.90% | Baa3 | 15-Jul-2027 | 6.34 |
| Mexican Bonos | 0.14% | -0.15 | $700,251.98 | 12,400,000 | Government | Foreign Govt & Muni (Excl Canadian) | Mexico | 7.75% | A3 | 13-Nov-2042 | 10.87 |
| Danske Bank | 0.14% | -0.00 | $689,810.65 | 615,000 | Corporate Securities | Banking | Denmark | 5.38% | Baa3 | 12-Jan-2024 | 3.56 |
| Micron Technology | 0.14% | -0.00 | $683,735.31 | 620,000 | Corporate Securities | Information Technology | United States | 4.64% | Baa3 | 06-Feb-2024 | 3.63 |
| Alexandria Real Estate Equities | 0.14% | -0.00 | $683,493.06 | 625,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 3.95% | Baa1 | 15-Jan-2027 | 5.96 |
| Westlake Chemical | 0.14% | -0.00 | $667,795.45 | 590,000 | Corporate Securities | Chemicals | United States | 1.63% | Baa2 | 17-Jul-2029 | 8.77 |
| Federal National Mortgage Assn. | 0.13% | N/A | $664,001.48 | 642,279 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Dec-2049 | 3.22 |
| Berkshire Hathaway Finance | 0.13% | 0.00 | $663,232.59 | 470,000 | Corporate Securities | Conglomerates | United States | 2.38% | Aa2 | 19-Jun-2039 | 15.88 |
| Vodafone | 0.13% | -0.00 | $653,669.33 | 560,000 | Corporate Securities | Wireless Communications | United Kingdom | 5.00% | Baa2 | 30-May-2038 | 12.61 |
| NXP BV / NXP Funding | 0.13% | -0.00 | $652,291.95 | 590,000 | Corporate Securities | Information Technology | Netherlands | 4.88% | Baa3 | 01-Mar-2024 | 3.68 |
| CC Holdings GS V LLC / Crown Castle GS III | 0.13% | -0.01 | $644,624.01 | 610,000 | Corporate Securities | Wireless Communications | United States | 3.85% | Baa2 | 15-Apr-2023 | 3.07 |
| Orange | 0.13% | -0.00 | $637,335.90 | 500,000 | Corporate Securities | Telephones | France | 2.00% | Baa1 | 15-Jan-2029 | 8.15 |
| Barclays | 0.13% | -0.00 | $620,408.89 | 595,000 | Corporate Securities | Banking | United Kingdom | 3.68% | Baa3 | 10-Jan-2023 | 2.02 |
| Capital One Financial | 0.13% | -0.00 | $618,302.88 | 540,000 | Corporate Securities | Banking | United States | 0.80% | Baa1 | 12-Jun-2024 | 4.36 |
| Indonesia Treasury Bond | 0.13% | -0.00 | $618,218.76 | 7,263,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Indonesia | 9.50% | Baa2 | 15-May-2041 | 10.01 |
| Netflix | 0.12% | N/A | $617,101.24 | 490,000 | Corporate Securities | Cable Operators | United States | 4.63% | Ba3 | 15-May-2029 | 7.70 |
| Bonos de la Tesoreria de la Republica en pesos | 0.12% | N/A | $614,556.16 | 400,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Chile | 4.70% | NR | 01-Sep-2030 | 8.42 |
| Ren Finance BV | 0.12% | -0.00 | $610,640.51 | 500,000 | Corporate Securities | Utilities | Portugal | 1.75% | Baa3 | 18-Jan-2028 | 7.35 |
| Hasbro | 0.12% | N/A | $588,091.97 | 580,000 | Corporate Securities | Consumer Products | United States | 3.55% | Baa3 | 19-Nov-2026 | 6.01 |
| Becton Dickinson And | 0.12% | 0.00 | $581,155.84 | 415,000 | Corporate Securities | Healthcare | United States | 3.02% | Ba1 | 24-May-2025 | 4.82 |
| Morgan Stanley | 0.12% | -0.00 | $573,093.35 | 525,000 | Corporate Securities | Banking | United States | 3.88% | A3 | 27-Jan-2026 | 5.36 |
| Republic of Austria Government Bond | 0.12% | -0.14 | $569,302.46 | 314,000 | Government | Foreign Govt & Muni (Excl Canadian) | Austria | 3.15% | Aa1 | 20-Jun-2044 | 19.19 |
| State Grid Overseas Investment 2016 | 0.12% | -0.01 | $568,421.16 | 560,000 | Corporate Securities | Utilities | China | 2.75% | A1 | 04-May-2022 | 2.25 |
| Pinnacle Bidco | 0.11% | 0.00 | $567,466.96 | 400,000 | Corporate Securities | Entertainment & Leisure | United Kingdom | 6.38% | B2 | 15-Feb-2025 | 1.84 |
| Goldman Sachs | 0.11% | -0.00 | $562,313.12 | 520,000 | Corporate Securities | Banking | United States | 3.85% | A3 | 26-Jan-2027 | 5.61 |
| Abertis Infraestructuras | 0.11% | -0.00 | $556,146.14 | 500,000 | Corporate Securities | Transportation Services | Spain | 0.63% | NR | 15-Jul-2025 | 5.35 |
| Alexandria Real Estate Equities | 0.11% | -0.00 | $547,880.16 | 490,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 4.30% | Baa1 | 15-Jan-2026 | 5.12 |
| Sequoia Mortgage Trust 2018-CH2 | 0.11% | -0.02 | $523,197.07 | 510,011 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.00% | Aaa | 25-Jun-2048 | 3.09 |
| HSBC Bank | 0.11% | 0.00 | $523,091.85 | 300,000 | Corporate Securities | Banking | United Kingdom | 4.75% | Baa1 | 24-Mar-2046 | 16.27 |
| Victoria | 0.10% | 0.00 | $512,559.30 | 420,000 | Corporate Securities | Building Products | United Kingdom | 5.25% | B1 | 15-Jul-2024 | 1.83 |
| Realkredit Danmark | 0.10% | -0.00 | $507,847.26 | 3,050,000 | Mortgage Backed Securities | Non - Government Mortgages | Denmark | 2.00% | NR | 01-Apr-2024 | 4.08 |
| Virgin Media Secured Finance | 0.10% | 0.00 | $504,508.04 | 350,000 | Corporate Securities | Cable Operators | United Kingdom | 5.25% | Ba3 | 15-May-2029 | 5.04 |
| Italy Buoni Poliennali del Tesoro | 0.10% | -0.01 | $499,658.56 | 422,000 | Government | Foreign Govt & Muni (Excl Canadian) | Italy | 2.80% | Baa3 | 01-Mar-2067 | 26.48 |
| Baidu | 0.10% | -0.00 | $497,947.01 | 455,000 | Corporate Securities | Information Technology | China | 4.38% | A3 | 29-Mar-2028 | 6.80 |
| Republic of Lithuania | 0.10% | -0.01 | $494,931.76 | 369,000 | Government | Foreign Govt & Muni (Excl Canadian) | Lithuania | 1.63% | A3 | 19-Jun-2049 | 24.48 |
| Government National Mortgage Assn. | 0.10% | -0.01 | $488,771.44 | 453,190 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jul-2047 | 2.78 |
| Colfax | 0.10% | -0.00 | $486,802.37 | 420,000 | Corporate Securities | Manufacturing | United States | 3.25% | Ba2 | 15-May-2025 | 0.40 |
| Avantor | 0.10% | -0.00 | $484,237.91 | 400,000 | Corporate Securities | Healthcare | United States | 4.75% | Ba2 | 01-Oct-2024 | 0.76 |
| Fortum | 0.10% | -0.00 | $482,161.38 | 419,000 | Corporate Securities | Utilities | Finland | 0.88% | NR | 27-Feb-2023 | 3.05 |
| New Residential Mortgage Loan Trust 2018-NQM1 | 0.10% | -0.01 | $480,642.42 | 473,388 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.99% | NR | 25-Nov-2048 | 1.33 |
| International Game Technology | 0.10% | -0.00 | $480,254.80 | 400,000 | Corporate Securities | Gaming | Italy | 3.50% | Ba2 | 15-Jun-2026 | 2.89 |
| Akelius Residential Property | 0.10% | -0.00 | $477,234.15 | 400,000 | Corporate Securities | Real Estate Investment Trust Securities | Sweden | 1.75% | NR | 07-Feb-2025 | 4.69 |
| Sequoia Mortgage Trust 2018-CH2 | 0.09% | -0.03 | $467,718.17 | 461,867 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.00% | Aaa | 25-Jun-2048 | 1.85 |
| American Airlines 2017-2 Class B Pass Through Trust | 0.09% | -0.01 | $467,156.81 | 453,862 | Corporate Securities | Airlines | United States | 3.70% | Baa3 | 15-Oct-2025 | 3.45 |
| Kraton Polymers LLC / Kraton Polymers Capital | 0.09% | -0.00 | $463,640.91 | 395,000 | Corporate Securities | Chemicals | United States | 5.25% | B3 | 15-May-2026 | 2.62 |
| American Airlines 2016-2 Class A Pass Through Trust | 0.09% | -0.01 | $462,456.07 | 446,904 | Corporate Securities | Airlines | United States | 3.65% | A2 | 15-Jun-2028 | 5.84 |
| Slovenia Government Bond | 0.09% | -0.00 | $458,179.24 | 380,000 | Government | Foreign Govt & Muni (Excl Canadian) | Slovenia | 1.00% | Baa1 | 06-Mar-2028 | 7.88 |
| HSBC Holdings | 0.09% | -0.00 | $450,731.84 | 440,000 | Corporate Securities | Banking | United Kingdom | 2.65% | A2 | 05-Jan-2022 | 1.93 |
| Ing Groep | 0.09% | N/A | $448,441.37 | 400,000 | Corporate Securities | Banking | Netherlands | 1.00% | Baa2 | 13-Nov-2030 | 5.70 |
| Brixmor Operating Partnership | 0.09% | -0.00 | $447,872.60 | 420,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 4.13% | Baa3 | 15-Jun-2026 | 5.55 |
| Sequoia Mortgage Trust 2018-CH3 | 0.09% | -0.02 | $447,335.08 | 436,161 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.00% | Aaa | 25-Aug-2048 | 2.68 |
| Edison International | 0.09% | N/A | $446,771.83 | 435,000 | Corporate Securities | Utilities | United States | 3.55% | Baa3 | 15-Nov-2024 | 4.40 |
| Romanian Government International Bond | 0.09% | -0.00 | $436,133.81 | 345,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.75% | Baa3 | 29-Oct-2025 | 5.46 |
| Goldman Sachs | 0.09% | -0.00 | $421,825.38 | 350,000 | Corporate Securities | Banking | United States | 1.63% | A3 | 27-Jul-2026 | 6.26 |
| Baidu | 0.08% | -0.00 | $412,922.38 | 365,000 | Corporate Securities | Information Technology | China | 4.88% | A3 | 14-Nov-2028 | 7.17 |
| Arcelormittal | 0.08% | -0.00 | $406,641.18 | 339,000 | Corporate Securities | Metals & Mining | Luxembourg | 2.25% | Baa3 | 17-Jan-2024 | 3.64 |
| Sigma Holdco BV | 0.08% | -0.00 | $404,899.52 | 355,000 | Corporate Securities | Food/Tobacco | Netherlands | 5.75% | B3 | 15-May-2026 | 3.44 |
| Informa | 0.08% | N/A | $399,944.40 | 360,000 | Corporate Securities | Media & Communications | United Kingdom | 1.25% | Baa3 | 22-Apr-2028 | 7.84 |
| Freddie Mac Whole Loan Securities Trust | 0.08% | -0.01 | $396,809.44 | 393,703 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.59% | A3 | 25-Dec-2046 | 2.07 |
| Refinitiv US Holdings | 0.08% | -0.00 | $394,092.75 | 320,000 | Corporate Securities | Information Technology | United States | 4.50% | B2 | 15-May-2026 | 1.92 |
| Nasdaq | 0.08% | -0.00 | $379,364.31 | 315,000 | Corporate Securities | Financial | United States | 1.75% | Baa2 | 28-Mar-2029 | 8.44 |
| Italgas | 0.07% | -0.00 | $367,997.98 | 300,000 | Corporate Securities | Utilities | Italy | 1.63% | Baa2 | 19-Jan-2027 | 6.65 |
| SF Holding Investment | 0.07% | -0.00 | $360,883.49 | 340,000 | Corporate Securities | Transportation | China | 4.13% | A3 | 26-Jul-2023 | 3.26 |
| Syngenta Finance | 0.07% | -0.00 | $359,048.55 | 350,000 | Corporate Securities | Diversified Chemicals | Switzerland | 3.93% | Ba2 | 23-Apr-2021 | 1.26 |
| Sequoia Mortgage Trust 2018-CH1 | 0.07% | -0.02 | $356,633.88 | 353,619 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.50% | Aaa | 25-Feb-2048 | 1.82 |
| Ubs | 0.07% | -0.00 | $353,686.98 | 300,000 | Corporate Securities | Banking | Switzerland | 1.25% | A3 | 17-Apr-2025 | 4.17 |
| Avis Budget Rental Car Funding AESOP | 0.07% | -0.00 | $350,726.77 | 350,000 | Asst Backed Securities | Auto Backed | United States | 2.50% | Aaa | 20-Jul-2021 | 0.34 |
| AA Bond | 0.07% | 0.00 | $349,873.13 | 300,000 | Corporate Securities | Services | United Kingdom | 5.50% | NR | 31-Jul-2022 | 2.22 |
| Deephaven Residential Mortgage Trust 2018-3 | 0.07% | -0.02 | $345,998.03 | 342,085 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.79% | NR | 25-Aug-2058 | 1.08 |
| Bayview Opportunity Master Fund IVb Trust 2017-RT2 | 0.07% | -0.01 | $340,640.89 | 336,481 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.50% | NR | 28-Aug-2057 | 2.07 |
| Federal National Mortgage Assn. | 0.07% | -0.01 | $339,374.82 | 306,963 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2045 | 3.26 |
| Brixmor Operating Partnership | 0.07% | -0.00 | $335,864.89 | 318,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 3.88% | Baa3 | 15-Aug-2022 | 2.32 |
| Federal National Mortgage Assn. | 0.07% | -0.01 | $328,435.85 | 306,699 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Sep-2043 | 3.03 |
| United Airlines 2019-2 Class AA Pass Through Trust | 0.07% | -0.00 | $323,927.58 | 320,000 | Corporate Securities | Airlines | United States | 2.70% | Aa3 | 01-May-2032 | 7.72 |
| DH Europe Finance II Sarl | 0.06% | -0.00 | $313,535.94 | 285,000 | Corporate Securities | Manufacturing | United States | 0.75% | Baa1 | 18-Sep-2031 | 11.23 |
| Synchrony Financial | 0.06% | -0.00 | $312,714.98 | 305,000 | Corporate Securities | Financial | United States | 2.85% | NR | 25-Jul-2022 | 2.38 |
| Norway Government Bond | 0.06% | -0.00 | $306,999.18 | 2,610,000 | Government | Foreign Govt & Muni (Excl Canadian) | Norway | 2.00% | Aaa | 24-May-2023 | 3.26 |
| GTP Acquisition Partners I | 0.06% | -0.00 | $300,413.41 | 300,000 | Corporate Securities | Wireless Communications | United States | 2.35% | Aaa | 15-Jun-2020 | 0.45 |
| Government National Mortgage Assn. | 0.06% | N/A | $299,370.34 | 282,382 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jun-2049 | 1.42 |
| Towd Point Mortgage Trust 2017-4 | 0.06% | -0.01 | $294,431.56 | 291,297 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | NR | 25-Jun-2057 | 2.43 |
| Celulosa Arauco Y Constitucion | 0.06% | N/A | $293,856.03 | 290,000 | Corporate Securities | Forest Products | Chile | 4.20% | Baa3 | 29-Jan-2030 | 8.06 |
| Santander UK Group Holdings | 0.06% | 0.00 | $293,505.16 | 200,000 | Corporate Securities | Banking | United Kingdom | 3.63% | Baa1 | 14-Jan-2026 | 5.37 |
| Deephaven Residential Mortgage Trust 2018-2 | 0.06% | -0.01 | $291,125.99 | 287,785 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.48% | NR | 25-Apr-2058 | 1.14 |
| Federal National Mortgage Assn. | 0.06% | -0.01 | $284,109.16 | 266,699 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2047 | 2.99 |
| Brixmor Operating Partnership | 0.06% | -0.00 | $280,821.72 | 268,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 3.65% | Baa3 | 15-Jun-2024 | 4.00 |
| Dexia Credit Local | 0.06% | 0.00 | $280,497.24 | 200,000 | Corporate Securities | Banking | France | 2.13% | Aa3 | 12-Feb-2025 | 4.79 |
| Lithuania Government International Bond | 0.06% | -0.08 | $278,964.76 | 200,000 | Government | Foreign Govt & Muni (Excl Canadian) | Lithuania | 2.13% | A3 | 22-Oct-2035 | 13.99 |
| Federal National Mortgage Assn. | 0.06% | -0.01 | $277,884.87 | 258,418 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Nov-2041 | 3.10 |
| Bankia | 0.06% | -0.00 | $277,849.35 | 200,000 | Corporate Securities | Banking | Spain | 4.00% | Aa1 | 03-Feb-2025 | 4.61 |
| mo Fisher Scientific | 0.06% | -0.00 | $277,143.65 | 250,000 | Corporate Securities | Healthcare | United States | 0.88% | Baa1 | 01-Oct-2031 | 11.19 |
| Volkswagen Financial Services | 0.06% | 0.00 | $273,186.11 | 200,000 | Corporate Securities | Automotive | Germany | 2.25% | A3 | 12-Apr-2025 | 4.92 |
| Government National Mortgage Assn. | 0.05% | -0.01 | $269,374.04 | 256,532 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Jun-2047 | 2.16 |
| Avolon Holdings Funding | 0.05% | -0.00 | $267,130.03 | 250,000 | Corporate Securities | Financial | Ireland | 4.38% | Baa3 | 01-May-2026 | 5.43 |
| Australia Government Bond | 0.05% | -0.00 | $265,712.19 | 310,000 | Government | Foreign Govt & Muni (Excl Canadian) | Australia | 3.00% | Aaa | 21-Mar-2047 | 19.86 |
| Australia Government Bond | 0.05% | -0.00 | $261,993.93 | 284,000 | Government | Foreign Govt & Muni (Excl Canadian) | Australia | 3.75% | Aaa | 21-Apr-2037 | 13.59 |
| Danske Bank | 0.05% | N/A | $251,829.80 | 217,000 | Corporate Securities | Banking | Denmark | 1.38% | Baa3 | 24-May-2022 | 2.35 |
| 280 Park Avenue 2017-280P Mortgage Trust | 0.05% | -0.00 | $250,417.65 | 250,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.82% | NR | 15-Sep-2034 | 0.03 |
| Bpce | 0.05% | -0.00 | $238,567.10 | 200,000 | Corporate Securities | Banking | France | 1.38% | Baa2 | 23-Mar-2026 | 5.96 |
| Credit Agricole SA/London | 0.05% | -0.00 | $238,386.18 | 200,000 | Corporate Securities | Banking | France | 1.38% | Baa1 | 13-Mar-2025 | 5.00 |
| Residomo SRO | 0.05% | -0.00 | $235,065.41 | 200,000 | Corporate Securities | Real Estate Investment Trust Securities | Czech Republic | 3.38% | Ba3 | 15-Oct-2024 | 0.85 |
| Caixabank | 0.05% | -0.00 | $233,819.35 | 200,000 | Corporate Securities | Banking | Spain | 1.13% | Baa1 | 17-May-2024 | 4.27 |
| Government National Mortgage Assn. | 0.05% | -0.01 | $229,364.39 | 212,688 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Sep-2047 | 1.96 |
| DH Europe Finance II Sarl | 0.05% | -0.00 | $228,185.34 | 205,000 | Corporate Securities | Manufacturing | United States | 0.45% | Baa1 | 18-Mar-2028 | 8.02 |
| Bahamas Government International Bond | 0.04% | N/A | $221,631.89 | 200,000 | Government | Foreign Govt & Muni (Excl Canadian) | Bahamas | 5.75% | Baa3 | 16-Jan-2024 | 3.53 |
| mo Fisher Scientific | 0.04% | -0.00 | $211,417.18 | 190,000 | Corporate Securities | Healthcare | United States | 0.13% | Baa1 | 01-Mar-2025 | 5.13 |
| Federal National Mortgage Assn. | 0.04% | -0.00 | $205,763.46 | 199,829 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2036 | 4.30 |
| Bristol-Myers Squibb | 0.04% | N/A | $202,781.07 | 185,000 | Corporate Securities | Drugs | United States | 3.88% | A2 | 15-Aug-2025 | 4.86 |
| Becton Dickinson And | 0.04% | -0.00 | $201,654.52 | 190,000 | Corporate Securities | Healthcare | United States | 3.73% | Ba1 | 15-Dec-2024 | 4.37 |
| Government National Mortgage Assn. | 0.04% | N/A | $200,882.11 | 187,885 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 20-Dec-2048 | 1.42 |
| Government National Mortgage Assn. | 0.04% | -0.00 | $197,066.11 | 190,182 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Aug-2045 | 3.48 |
| Cirsa Finance International Sarl | 0.04% | -0.00 | $190,562.08 | 160,000 | Corporate Securities | Gaming | Spain | 6.25% | B2 | 20-Dec-2023 | 0.47 |
| Federal National Mortgage Assn. | 0.04% | -0.00 | $189,544.71 | 179,724 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Mar-2043 | 3.97 |
| Federal National Mortgage Assn. | 0.04% | -0.00 | $184,575.35 | 168,893 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2048 | 2.64 |
| Arcelormittal | 0.04% | -0.00 | $178,088.26 | 165,000 | Corporate Securities | Metals & Mining | Luxembourg | 4.55% | NR | 11-Mar-2026 | 5.35 |
| Israel Government International Bond | 0.03% | -0.00 | $166,903.68 | 130,000 | Government | Foreign Govt & Muni (Excl Canadian) | Israel | 2.88% | A1 | 29-Jan-2024 | 3.83 |
| Fannie Mae Connecticut Avenue Securities | 0.03% | -0.02 | $156,489.33 | 156,370 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.47% | NR | 25-Oct-2030 | 0.07 |
| Federal Home Loan Mortgage | 0.03% | -0.00 | $155,666.79 | 150,507 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Dec-2042 | 5.20 |
| Government National Mortgage Assn. | 0.03% | -0.00 | $152,346.64 | 143,898 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Jan-2048 | 3.62 |
| Federal National Mortgage Assn. | 0.03% | -0.00 | $150,515.40 | 145,557 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2036 | 4.41 |
| Fiserv | 0.03% | -0.00 | $147,186.74 | 130,000 | Corporate Securities | Information Technology | United States | 0.38% | Baa2 | 01-Jul-2023 | 3.43 |
| Occidental Petroleum | 0.03% | -0.00 | $142,160.10 | 135,000 | Corporate Securities | Petroleum | United States | 4.40% | Baa3 | 15-Aug-2049 | 16.52 |
| Federal National Mortgage Assn. | 0.03% | N/A | $141,908.90 | 134,558 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2044 | 3.83 |
| Travis Perkins | 0.03% | 0.00 | $141,341.19 | 100,000 | Corporate Securities | Building Products | United Kingdom | 4.50% | NR | 07-Sep-2023 | 3.39 |
| European Stability Mechanism | 0.03% | -0.00 | $137,991.08 | 96,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 1.75% | Aa1 | 20-Oct-2045 | 22.01 |
| Federal National Mortgage Assn. | 0.03% | -0.00 | $137,124.31 | 130,052 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jun-2047 | 2.50 |
| Credit Suisse | 0.03% | 0.00 | $135,359.02 | 100,000 | Corporate Securities | Banking | Switzerland | 2.13% | Baa2 | 12-Sep-2025 | 4.46 |
| Intesa Sanpaolo | 0.03% | -0.00 | $135,329.91 | 100,000 | Corporate Securities | Banking | Italy | 3.38% | Aa3 | 24-Jan-2025 | 4.65 |
| Federal National Mortgage Assn. | 0.03% | N/A | $133,495.35 | 123,940 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2049 | 2.20 |
| Towd Point Mortgage Trust 2018-1 | 0.03% | -0.00 | $131,827.01 | 129,782 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.00% | Aaa | 25-Jan-2058 | 2.70 |
| Government National Mortgage Assn. | 0.03% | -0.00 | $125,966.80 | 119,263 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Sep-2042 | 4.11 |
| Banco Bilbao Vizcaya Argentaria | 0.02% | -0.00 | $122,289.92 | 100,000 | Corporate Securities | Banking | Spain | 2.58% | Baa3 | 22-Feb-2029 | 3.90 |
| Federal National Mortgage Assn. | 0.02% | -0.00 | $121,174.92 | 117,076 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Mar-2043 | 5.34 |
| Boral Finance Pty | 0.02% | -0.00 | $120,969.80 | 120,000 | Corporate Securities | Building Products | Australia | 3.00% | Baa2 | 01-Nov-2022 | 2.65 |
| US BOND FUTR OPTN Feb20P 157 | 0.02% | N/A | $120,468.75 | 60 | Financial Futures | Taxable Futures | United States | N/A | NR | N/A | 12.31 |
| Federal National Mortgage Assn. | 0.02% | -0.00 | $119,414.75 | 112,979 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Apr-2045 | 4.03 |
| Indonesia Government International Bond | 0.02% | -0.00 | $118,841.80 | 100,000 | Government | Foreign Govt & Muni (Excl Canadian) | Indonesia | 2.88% | Baa2 | 08-Jul-2021 | 1.49 |
| Inter Media & Communication | 0.02% | -0.00 | $111,778.92 | 96,833 | Corporate Securities | Broadcasting | Italy | 4.88% | NR | 31-Dec-2022 | 0.02 |
| Royal Bank Of Scotland | 0.02% | -0.00 | $109,353.72 | 100,000 | Corporate Securities | Banking | United Kingdom | 6.13% | Baa3 | 15-Dec-2022 | 2.71 |
| Towd Point Mortgage Trust 2017-1 | 0.02% | -0.00 | $107,467.50 | 106,233 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | Aaa | 25-Oct-2056 | 1.86 |
| Government National Mortgage Assn. | 0.02% | N/A | $101,580.35 | 95,926 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Jun-2043 | 4.27 |
| Federal Home Loan Mortgage | 0.02% | -0.00 | $96,504.63 | 90,869 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Mar-2046 | 4.09 |
| Federal National Mortgage Assn. | 0.02% | -0.00 | $96,246.02 | 91,011 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2048 | 2.13 |
| Federal Home Loan Mortgage | 0.02% | -0.00 | $92,628.88 | 87,781 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Nov-2042 | 3.71 |
| Occidental Petroleum | 0.02% | -0.00 | $92,112.85 | 90,000 | Corporate Securities | Petroleum | United States | 3.20% | Baa3 | 15-Aug-2026 | 5.82 |
| Edison International | 0.02% | N/A | $91,633.58 | 90,000 | Corporate Securities | Utilities | United States | 3.13% | Baa3 | 15-Nov-2022 | 2.67 |
| Federal Home Loan Mortgage | 0.02% | -0.00 | $86,435.73 | 81,904 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Mar-2044 | 3.91 |
| Freddie Mac REMICS | 0.02% | -0.00 | $77,576.43 | 77,495 | Mortgage Backed Securities | Agency Bkd CMO | United States | 2.24% | NR | 15-Sep-2046 | 0.55 |
| COMM 2015-LC21 Mortgage Trust | 0.02% | -0.00 | $75,342.15 | 70,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.30% | NR | 10-Jul-2048 | 4.85 |
| Government National Mortgage Assn. | 0.02% | -0.00 | $74,737.38 | 70,509 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Jul-2042 | 4.11 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $65,306.35 | 59,784 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Nov-2047 | 2.72 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $64,591.51 | 61,398 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Nov-2045 | 3.23 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $60,791.88 | 56,130 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jan-2044 | 3.49 |
| Nationwide Building Society | 0.01% | -0.00 | $59,873.57 | 50,000 | Corporate Securities | Banking | United Kingdom | 6.75% | Baa1 | 22-Jul-2020 | 0.56 |
| COMM 2016-CR28 Mortgage Trust | 0.01% | -0.00 | $59,603.40 | 57,012 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.65% | Aaa | 10-Feb-2049 | 4.25 |
| Towd Point Mortgage Trust 2016-2 | 0.01% | -0.00 | $57,583.88 | 57,168 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | Aaa | 25-Aug-2055 | 1.98 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $56,941.93 | 53,864 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-May-2042 | 3.36 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $56,639.01 | 53,263 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Mar-2046 | 2.99 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $56,105.09 | 53,206 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Oct-2042 | 3.68 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $55,941.55 | 52,651 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jun-2046 | 4.30 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $54,249.63 | 51,306 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jul-2044 | 2.11 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $53,973.14 | 51,644 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Aug-2048 | 1.39 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $53,377.17 | 49,651 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Aug-2042 | 2.95 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $53,186.10 | 50,439 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Sep-2042 | 3.50 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $51,501.42 | 46,525 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2035 | 3.69 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $50,909.28 | 48,559 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Feb-2046 | 4.93 |
| COLT 2018-1 Mortgage Loan Trust | 0.01% | -0.00 | $50,499.37 | 50,214 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.93% | NR | 25-Feb-2048 | 1.49 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $49,456.98 | 46,751 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Sep-2042 | 3.81 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $48,350.66 | 45,460 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2046 | 2.99 |
| Government National Mortgage Association | 0.01% | -0.00 | $47,571.24 | 47,169 | Mortgage Backed Securities | Agency Bkd CMO | United States | 3.00% | NR | 20-Dec-2047 | 2.47 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $45,751.32 | 43,626 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-May-2045 | 4.45 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $45,343.26 | 40,962 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Mar-2034 | 3.55 |
| Government National Mortgage Assn. | 0.01% | N/A | $43,651.79 | 41,499 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Apr-2048 | 3.05 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $43,613.16 | 42,128 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 5.79 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $42,576.16 | 40,376 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Sep-2042 | 3.81 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $41,104.31 | 38,161 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2040 | 2.86 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $40,076.05 | 37,877 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Aug-2042 | 3.81 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $38,444.29 | 36,087 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2045 | 2.99 |
| COMM 2015-PC1 Mortgage Trust | 0.01% | -0.00 | $37,380.12 | 35,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.44% | NR | 10-Jul-2050 | 4.84 |
| Mill City Mortgage Loan Trust 2016-1 | 0.01% | -0.00 | $36,068.82 | 35,978 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.50% | Aaa | 25-Apr-2057 | 1.09 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $35,284.31 | 33,176 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Nov-2045 | 2.99 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $35,075.58 | 32,170 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Feb-2041 | 2.81 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $34,698.72 | 32,933 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Mar-2043 | 4.69 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $34,591.94 | 32,743 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Jan-2043 | 4.11 |
| Fannie Mae REMICS | 0.01% | -0.00 | $34,483.01 | 34,452 | Mortgage Backed Securities | Agency Bkd CMO | United States | 2.29% | NR | 25-Sep-2046 | 0.59 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $32,917.98 | 31,057 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2045 | 2.99 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $32,029.17 | 31,133 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2046 | 4.85 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $31,659.81 | 29,351 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Aug-2047 | 2.78 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $30,873.88 | 28,751 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2042 | 3.40 |
| Towd Point Mortgage Trust 2015-5 | 0.01% | -0.00 | $29,367.39 | 29,258 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | Aaa | 25-May-2055 | 1.31 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $29,019.45 | 27,561 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 15-Sep-2041 | 4.00 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $28,483.70 | 24,701 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Dec-2035 | 3.72 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $28,356.05 | 26,888 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2043 | 4.34 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $27,342.64 | 25,388 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2041 | 2.52 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $26,817.93 | 25,905 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Dec-2036 | 4.60 |
| Freddie Mac REMICS | 0.01% | -0.00 | $26,764.63 | 26,724 | Mortgage Backed Securities | Agency Bkd CMO | United States | 2.24% | NR | 15-Feb-2047 | 0.48 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $26,589.69 | 25,730 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 5.30 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $24,843.07 | 23,689 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Oct-2044 | 4.68 |
| Towd Point Mortgage Trust 2015-4 | 0.01% | -0.00 | $24,728.89 | 24,648 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | Aaa | 25-Apr-2055 | 1.75 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $24,185.53 | 22,467 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2041 | 2.91 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $23,858.20 | 21,324 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 20-Jun-2044 | 4.12 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $23,613.11 | 22,809 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2036 | 4.48 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $23,310.92 | 22,760 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Aug-2043 | 4.46 |
| Freddie Mac Structured Agency Credit Risk debt Notes | 0.00% | -0.00 | $22,290.30 | 22,154 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.98% | Baa1 | 25-Sep-2047 | 0.67 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $22,027.61 | 21,336 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jun-2046 | 4.45 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $21,833.86 | 19,983 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2042 | 3.81 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $21,498.87 | 19,823 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Jul-2039 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $21,326.64 | 20,636 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Nov-2042 | 4.85 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $20,817.45 | 19,575 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2044 | 2.76 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $20,347.71 | 19,747 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Aug-2046 | 5.74 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $20,175.09 | 19,458 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 6.12 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $20,014.10 | 18,058 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2040 | 3.26 |
| SLM Student Loan Trust 2008-9 | 0.00% | -0.00 | $19,987.08 | 19,783 | Asst Backed Securities | Student Loans | United States | 3.44% | Baa3 | 25-Apr-2023 | 0.09 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $19,853.24 | 18,926 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-May-2045 | 4.36 |
| Towd Point Mortgage Trust 2015-3 | 0.00% | -0.00 | $19,637.82 | 19,520 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.00% | Aaa | 25-Mar-2054 | 1.08 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $19,609.74 | 18,403 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Jul-2042 | 4.61 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $19,134.57 | 18,481 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 5.72 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $18,292.26 | 16,766 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Feb-2041 | 2.84 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $18,271.62 | 17,650 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-May-2046 | 5.83 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $17,961.90 | 17,326 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-May-2046 | 6.03 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $17,928.46 | 17,353 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 15-Dec-2042 | 4.84 |
| Enterprise Fleet Financing | 0.00% | -0.00 | $17,791.61 | 17,778 | Asst Backed Securities | Auto Backed | United States | 2.13% | NR | 20-Jul-2022 | 0.13 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $17,742.52 | 16,914 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Jan-2046 | 4.93 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $17,452.47 | 16,880 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Sep-2046 | 5.65 |
| GS Mortgage-Backed Securities Trust | 0.00% | -0.00 | $16,599.41 | 16,532 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.45% | NR | 25-Jul-2044 | 0.42 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $16,451.50 | 15,965 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 5.48 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $16,101.36 | 15,235 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2046 | 3.84 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $15,978.37 | 14,646 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Feb-2041 | 2.84 |
| Wells Fargo Commercial Mortgage Trust 2015-NXS2 | 0.00% | -0.00 | $15,878.80 | 15,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.31% | NR | 15-Jul-2058 | 4.91 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $15,486.63 | 14,686 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Aug-2042 | 3.42 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $15,318.17 | 13,552 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Jul-2036 | 3.74 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $15,310.51 | 14,425 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Sep-2043 | 4.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $15,221.50 | 13,960 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Apr-2042 | 3.13 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $14,954.23 | 14,061 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2044 | 2.76 |
| Hilton Grand Vacations Trust 2014 | 0.00% | -0.00 | $14,354.32 | 14,387 | Asst Backed Securities | Asset Backed Other | United States | 1.77% | NR | 25-Nov-2026 | 0.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $14,199.77 | 13,182 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Nov-2040 | 2.53 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $14,089.87 | 13,643 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Jun-2043 | 4.51 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $13,919.97 | 12,270 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2034 | 3.54 |
| Mmaf Equipment Finance Llc 2014 | 0.00% | -0.00 | $13,647.99 | 13,647 | Asst Backed Securities | Equip Lease Heavy Duty | United States | 1.59% | Aaa | 08-Feb-2022 | 0.14 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $13,596.51 | 12,635 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2041 | 2.92 |
| Sierra Timeshare 2015-3 Receivables Funding | 0.00% | -0.00 | $13,376.07 | 13,342 | Asst Backed Securities | Asset Backed Other | United States | 2.58% | NR | 20-Sep-2032 | 1.26 |
| Freddie Mac REMICS | 0.00% | -0.00 | $13,108.66 | 13,088 | Mortgage Backed Securities | Agency Bkd CMO | United States | 2.24% | NR | 15-Oct-2046 | 0.51 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $13,056.58 | 12,120 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2040 | 2.86 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $12,841.91 | 12,562 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Jun-2033 | 3.54 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $12,543.10 | 12,247 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Feb-2044 | 4.04 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $12,331.84 | 11,693 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jun-2042 | 3.37 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $11,921.70 | 11,191 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-May-2041 | 4.10 |
| Elara Hgv Timeshare Issuer 2014 | 0.00% | -0.00 | $11,724.36 | 11,708 | Asst Backed Securities | Asset Backed Other | United States | 2.53% | NR | 25-Feb-2027 | 1.09 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $11,678.61 | 11,283 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Aug-2046 | 6.26 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $11,410.28 | 10,822 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jul-2043 | 3.89 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $11,129.82 | 10,260 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Sep-2040 | 3.78 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $10,957.21 | 10,101 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Feb-2040 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,929.19 | 9,450 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Oct-2037 | 3.71 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,855.76 | 10,282 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Aug-2043 | 3.67 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,835.43 | 9,411 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Sep-2038 | 3.67 |
| Morgan Stanley Capital I Trust 2015-MS1 | 0.00% | -0.00 | $10,693.82 | 10,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.03% | Aa1 | 15-May-2048 | 4.83 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,464.57 | 9,910 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Apr-2043 | 3.74 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,120.26 | 8,954 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Dec-2035 | 3.74 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,107.60 | 9,276 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2039 | 2.71 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $10,048.34 | 8,888 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Mar-2037 | 3.79 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $9,182.59 | 8,870 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Jul-2046 | 5.89 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $8,955.31 | 8,319 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Apr-2041 | 2.91 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $8,680.08 | 7,827 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2040 | 2.96 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $8,288.65 | 7,602 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Oct-2039 | 2.68 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $8,073.25 | 7,294 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2035 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $7,990.58 | 7,338 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jun-2039 | 2.71 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $7,912.32 | 7,654 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Feb-2043 | 5.08 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $7,874.04 | 7,114 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2038 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $7,870.78 | 7,516 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Oct-2026 | 1.59 |
| Freddie Mac REMICS | 0.00% | -0.00 | $7,542.43 | 7,537 | Mortgage Backed Securities | Agency Bkd CMO | United States | 2.19% | NR | 15-Oct-2046 | 0.54 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $7,347.25 | 6,578 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Nov-2034 | 3.58 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $7,017.75 | 6,564 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Mar-2044 | 4.66 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $6,842.49 | 6,160 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jun-2040 | 3.88 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $6,781.60 | 6,102 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Oct-2040 | 3.88 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $6,753.03 | 5,973 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Dec-2038 | 3.59 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $6,732.55 | 6,170 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Mar-2040 | 2.32 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $6,708.95 | 6,348 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Aug-2043 | 3.98 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $6,645.04 | 5,982 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Nov-2039 | 3.71 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $6,580.79 | 6,286 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Nov-2024 | 1.55 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $6,441.47 | 6,069 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Apr-2043 | 4.58 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $6,236.76 | 5,719 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jul-2039 | 2.68 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $6,079.62 | 5,717 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Sep-2045 | 2.99 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $5,563.59 | 4,922 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Nov-2034 | 3.74 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $5,486.73 | 4,957 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Oct-2034 | 3.55 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $5,135.47 | 4,768 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2041 | 2.86 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $4,979.69 | 4,499 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2041 | 3.49 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $4,667.26 | 4,144 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Jul-2032 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $4,486.16 | 4,051 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-May-2038 | 3.75 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $4,465.80 | 4,182 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jun-2043 | 4.62 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $4,387.94 | 3,813 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Aug-2038 | 3.47 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $4,324.90 | 3,905 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2040 | 3.22 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $4,317.50 | 3,886 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-May-2040 | 3.88 |
| US BOND FUTR OPTN Feb20C 161 | 0.00% | N/A | $4,156.25 | 38 | Financial Futures | Taxable Futures | United States | N/A | N/A | N/A | 12.31 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,876.12 | 3,502 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2038 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,868.62 | 3,357 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Aug-2034 | 3.54 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,558.72 | 3,247 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2041 | 3.26 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,454.96 | 2,997 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Oct-2038 | 3.66 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,329.86 | 2,888 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2034 | 3.42 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,274.06 | 3,043 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2041 | 2.91 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $3,131.39 | 2,777 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-May-2039 | 3.73 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,949.59 | 2,562 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Aug-2038 | 3.86 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $2,915.46 | 2,688 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Mar-2041 | 4.02 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $2,761.06 | 2,393 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Dec-2033 | 3.39 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,753.34 | 2,392 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Dec-2032 | 3.34 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $2,655.28 | 2,448 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Nov-2039 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,654.75 | 2,398 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2034 | 3.55 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $2,488.01 | 2,242 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Mar-2041 | 3.88 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,446.82 | 2,210 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Mar-2034 | 3.55 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,437.40 | 2,333 | Mortgage Backed Securities | Mortgages | United States | 3.82% | NR | 01-Nov-2035 | 0.80 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,320.80 | 2,039 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2037 | 3.66 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,207.88 | 1,995 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2035 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,135.43 | 1,853 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Sep-2039 | 3.69 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $2,105.92 | 1,834 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 20-Aug-2034 | 3.78 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,088.32 | 1,811 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Oct-2038 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $2,022.80 | 1,755 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Mar-2033 | 3.42 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $1,948.23 | 1,812 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 5.02% | NR | 01-Feb-2037 | 0.68 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,927.37 | 1,671 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Mar-2037 | 3.72 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,910.10 | 1,690 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Feb-2038 | 3.79 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,833.46 | 1,654 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Sep-2040 | 3.26 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,764.88 | 1,535 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2037 | 3.72 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,701.41 | 1,601 | Mortgage Backed Securities | Mortgages | United States | 4.52% | NR | 01-Aug-2036 | 0.70 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,554.91 | 1,426 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Feb-2040 | 2.81 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,483.95 | 1,341 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2033 | 3.55 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,455.48 | 1,315 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Mar-2036 | 3.75 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $1,411.95 | 1,252 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Aug-2032 | 3.33 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,402.92 | 1,217 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-May-2033 | 3.42 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,214.30 | 1,074 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Apr-2036 | 3.79 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,118.72 | 1,050 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 4.13% | NR | 01-Dec-2036 | 0.93 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,101.99 | 950 | Mortgage Backed Securities | Mortgages | United States | 7.00% | NR | 01-Dec-2029 | 2.82 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $1,038.88 | 901 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Aug-2038 | 3.86 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $1,032.93 | 920 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 20-Feb-2036 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,023.90 | 981 | Mortgage Backed Securities | Mortgages | United States | 3.69% | NR | 01-Dec-2035 | 0.88 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $1,005.44 | 889 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Apr-2035 | 3.79 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $993.91 | 855 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 20-Dec-2033 | 3.85 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $928.37 | 824 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Jul-2032 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $920.09 | 811 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Nov-2036 | 3.66 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $897.61 | 811 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2036 | 3.75 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $871.04 | 824 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 4.48% | NR | 01-Jan-2037 | 1.12 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $863.26 | 832 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Oct-2021 | 0.32 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $783.89 | 708 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Mar-2036 | 3.75 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $767.08 | 665 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-May-2038 | 3.69 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $746.32 | 674 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Aug-2040 | 3.26 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $736.59 | 665 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Dec-2039 | 3.33 |
| Federal National Mortgage Assn. | 0.00% | N/A | $734.03 | 637 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Apr-2035 | 3.68 |
| Federal Home Loan Mortgage | 0.00% | N/A | $719.50 | 672 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 4.12% | NR | 01-Dec-2036 | 0.94 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $714.33 | 676 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 4.03% | NR | 01-Nov-2036 | 0.99 |
| Federal National Mortgage Assn. | 0.00% | N/A | $680.60 | 674 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Jun-2022 | 1.04 |
| Federal Home Loan Mortgage | 0.00% | N/A | $658.17 | 582 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Dec-2039 | 3.87 |
| Federal National Mortgage Assn. | 0.00% | N/A | $595.47 | 538 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Aug-2040 | 3.26 |
| Federal National Mortgage Assn. | 0.00% | N/A | $563.30 | 498 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Aug-2037 | 3.79 |
| Federal National Mortgage Assn. | 0.00% | N/A | $562.54 | 508 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2040 | 3.26 |
| Federal National Mortgage Assn. | 0.00% | N/A | $551.65 | 498 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2035 | 3.75 |
| Government National Mortgage Assn. | 0.00% | N/A | $489.87 | 475 | Mortgage Backed Securities | Mortgages | United States | 7.50% | NR | 15-Jan-2030 | 2.96 |
| Federal National Mortgage Assn. | 0.00% | N/A | $488.96 | 438 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Mar-2037 | 3.71 |
| Federal Home Loan Mortgage | 0.00% | N/A | $400.20 | 361 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Oct-2032 | 3.39 |
| Federal National Mortgage Assn. | 0.00% | N/A | $324.76 | 308 | Mortgage Backed Securities | Mortgages | United States | 4.26% | NR | 01-Sep-2037 | 0.64 |
| Federal National Mortgage Assn. | 0.00% | N/A | $319.77 | 304 | Mortgage Backed Securities | Mortgages | United States | 3.34% | NR | 01-Dec-2035 | 0.97 |
| Federal National Mortgage Assn. | 0.00% | N/A | $304.69 | 270 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Aug-2037 | 3.79 |
| Federal National Mortgage Assn. | 0.00% | N/A | $296.18 | 285 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2021 | 0.32 |
| Federal National Mortgage Assn. | 0.00% | N/A | $286.13 | 271 | Mortgage Backed Securities | Mortgages | United States | 3.85% | NR | 01-Dec-2035 | 0.94 |
| Federal Home Loan Mortgage | 0.00% | N/A | $253.77 | 249 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Oct-2021 | 0.64 |
| Federal National Mortgage Assn. | 0.00% | N/A | $243.07 | 209 | Mortgage Backed Securities | Mortgages | United States | 7.00% | NR | 01-Aug-2031 | 3.18 |
| Federal Home Loan Mortgage | 0.00% | N/A | $203.35 | 195 | Mortgage Backed Securities | Mortgages | United States | 7.00% | NR | 01-Jun-2032 | 3.30 |
| Government National Mortgage Association | 0.00% | N/A | $174.81 | 4,692 | Mortgage Backed Securities | Agency Bkd CMO | United States | 4.50% | NR | 20-Dec-2039 | -13.36 |
| Federal National Mortgage Assn. | 0.00% | N/A | $72.99 | 70 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2022 | 0.32 |
| Fannie Mae Interest Strip | 0.00% | N/A | $55.90 | 285 | Mortgage Backed Securities | Agency Bkd CMO | United States | 6.50% | NR | 25-Feb-2032 | 1.21 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $52.64 | 52 | Mortgage Backed Securities | Adj. Rate Mortgages | United States | 4.04% | NR | 01-Sep-2032 | 0.86 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $49.15 | 47 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Dec-2020 | 0.32 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $45.81 | 44 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2025 | 0.63 |
| Government National Mortgage Association | 0.00% | -0.00 | $12.53 | 730 | Mortgage Backed Securities | Agency Bkd CMO | United States | 4.50% | NR | 20-Feb-2039 | -13.84 |
| FNMA 15YR | 0.00% | 0.00 | $11.54 | 11 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2020 | 0.32 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $1.35 | 1 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jul-2020 | 0.32 |
N/A indicates Not Available.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Please note that holdings are released 15 days after the period end. From time to time, certain securities held may not be listed.
Sector Diversification (31-Dec-2019)
Representative Portfolio vs Benchmark| Sector Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Government | 66.78% | 57.96% | |
| Cash Equivalents | 3.67% | 0.00% | |
| Sub Investment Grade | 3.41% | 0.00% | |
| Collateralised | 13.14% | 14.37% | |
| Corporate | 12.68% | 19.09% | |
| Agency/Supranationals | 0.32% | 8.57% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Country Diversification (31-Dec-2019)
Representative Portfolio vs Benchmark| Country Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Japan | 19.48% | 15.96% | |
| SNAT (Supe Natl Wrld Global) | 4.62% | 2.04% | |
| Indonesia | 1.90% | 0.54% | |
| Ireland | 1.57% | 0.36% | |
| Thailand | 1.59% | 0.39% | |
| South Africa | 1.02% | 0.01% | |
| China | 4.48% | 3.48% | |
| Romania | 0.85% | 0.07% | |
| Luxembourg | 0.67% | 0.08% | |
| Malaysia | 0.86% | 0.33% | |
| Israel | 0.68% | 0.17% | |
| India | 0.52% | 0.08% | |
| Bahamas | 0.41% | 0.00% | |
| Italy | 3.97% | 3.56% | |
| Chile | 0.52% | 0.16% | |
| Sweden | 1.06% | 0.71% | |
| Russia | 0.69% | 0.35% | |
| Cyprus | 0.32% | 0.02% | |
| Saudi Arabia | 0.31% | 0.17% | |
| Denmark | 0.29% | 0.34% | |
| Netherlands | 1.25% | 1.49% | |
| Belgium | 0.66% | 1.09% | |
| Switzerland | 0.35% | 0.80% | |
| Australia | 0.79% | 1.46% | |
| Spain | 1.40% | 2.52% | |
| Canada | 1.99% | 3.28% | |
| United Kingdom | 3.70% | 5.14% | |
| Germany | 2.50% | 4.87% | |
| United States | 33.94% | 36.89% | |
| France | 2.49% | 5.75% |
A maximum of 30 largest countries by portfolio rank are displayed and shown in descending order by relative over/underweight.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Currency Diversification (31-Dec-2019)
Representative Portfolio vs Benchmark| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| U.S. dollar | 43.90% | 44.71% | |
| Canadian dollar | 2.61% | 2.60% | |
| Australian dollar | 1.44% | 1.21% | |
| Mexican peso | 0.29% | 0.30% | |
| New Zealand dollar | 0.10% | 0.11% | |
| Dollar Bloc Subtotal | 48.34% | 48.94% |
Benchmark : Bloomberg Barclays Global Aggregate Bond Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| euro | 23.43% | 23.48% | |
| British pound sterling | 5.68% | 4.73% | |
| Swiss franc | 1.52% | 0.54% | |
| Polish zloty | 0.63% | 0.21% | |
| Czech koruna | 0.61% | 0.09% | |
| Swedish krona | 0.43% | 0.44% | |
| Danish krone | 0.20% | 0.21% | |
| Norwegian krone | 0.10% | 0.11% | |
| Hungarian forint | -0.94% | 0.08% | |
| European Bloc Subtotal | 31.65% | 29.89% |
Benchmark : Bloomberg Barclays Global Aggregate Bond Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Japanese yen | 15.32% | 15.60% | |
| Korean won | 1.32% | 1.20% | |
| Malaysian ringgit | 0.79% | 0.30% | |
| Singapore dollar | 0.18% | 0.20% | |
| Hong Kong dollar | -0.02% | 0.02% | |
| Thai baht | -0.64% | 0.36% | |
| New Taiwan dollar | -1.00% | 0.00% | |
| Far East Bloc Subtotal | 15.95% | 17.67% |
Benchmark : Bloomberg Barclays Global Aggregate Bond Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Chinese renminbi | 3.91% | 2.80% | |
| Israeli shekel | 1.63% | 0.13% | |
| Indonesian rupiah | 1.33% | 0.33% | |
| Russian ruble | 0.69% | 0.18% | |
| Chilean peso | 0.57% | 0.06% | |
| Serbia dinar | 0.48% | 0.00% | |
| Indian rupee | -0.02% | 0.00% | |
| New Romanian leu | -0.25% | 0.00% | |
| South African rand | -0.49% | 0.00% | |
| Offshore Chinese renminbi | -3.78% | 0.00% | |
| Emerging Markets Bloc Subtotal | 4.06% | 3.50% |
Benchmark : Bloomberg Barclays Global Aggregate Bond Index
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Holdings information and other breakdowns (such as country and currency) are related to those of representative portfolio ("Portfolio"). The Portfolio is an account in the composite we believe most closely reflects current portfolio management style for the strategy. Performance is not a consideration in the selection of the representative portfolio. The characteristics of the representative portfolio shown may differ from those of other accounts in the strategy. Please see the GIPS® Disclosure page for additional information on the composite.
The specific securities identified and described above do not represent all of the securities purchased, sold or recommended for advisory clients and no assumptions should be made that investments in the securities identified and discussed were or will be profitable.
Bloomberg Index Services Ltd. Copyright © 2019, Bloomberg Index Services Ltd. Used with permission.
Arif Husain is head of International Fixed Income at T. Rowe Price. He is lead portfolio manager for the Dynamic Global Bond Strategies. Mr. Husain is also co-portfolio manager for the firm's International Bond, Global Aggregate Bond and Institutional International Bond Strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.