|
Not FDIC or NCUA Insured
|
No Financial Institution Guarantee
|
May Lose Value
|
|
Common Stocks 66.9%
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Communication Services 6.3%
|
||
|
Diversified Telecommunication Services 0.9%
|
||
|
AT&T, Inc.
|
350,000
|
9,884,000
|
|
Verizon Communications, Inc.
|
185,000
|
8,130,750
|
|
Total
|
|
18,014,750
|
|
Interactive Media & Services 5.1%
|
||
|
Alphabet, Inc., Class A
|
243,999
|
59,316,157
|
|
Meta Platforms, Inc., Class A
|
58,014
|
42,604,321
|
|
Total
|
|
101,920,478
|
|
Media 0.3%
|
||
|
Comcast Corp., Class A
|
160,000
|
5,027,200
|
|
Fox Corp., Class A
|
23,928
|
1,508,900
|
|
Total
|
|
6,536,100
|
|
Total Communication Services
|
126,471,328
|
|
|
Consumer Discretionary 6.2%
|
||
|
Automobile Components 0.5%
|
||
|
Aptiv PLC(a)
|
116,900
|
10,079,118
|
|
Automobiles 0.6%
|
||
|
Tesla, Inc.(a)
|
25,980
|
11,553,825
|
|
Broadline Retail 2.0%
|
||
|
Amazon.com, Inc.(a)
|
154,352
|
33,891,069
|
|
Macy’s, Inc.
|
310,000
|
5,558,300
|
|
Total
|
|
39,449,369
|
|
Hotels, Restaurants & Leisure 1.3%
|
||
|
Booking Holdings, Inc.
|
3,603
|
19,453,570
|
|
Darden Restaurants, Inc.
|
27,500
|
5,234,900
|
|
Expedia Group, Inc.
|
6,562
|
1,402,627
|
|
Total
|
|
26,091,097
|
|
Household Durables 0.1%
|
||
|
Newell Brands, Inc.
|
600,000
|
3,144,000
|
|
Specialty Retail 0.4%
|
||
|
Best Buy Co., Inc.
|
70,000
|
5,293,400
|
|
Lowe’s Companies, Inc.
|
7,800
|
1,960,218
|
|
Total
|
|
7,253,618
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Textiles, Apparel & Luxury Goods 1.3%
|
||
|
Ralph Lauren Corp.
|
47,048
|
14,752,371
|
|
Tapestry, Inc.
|
102,186
|
11,569,499
|
|
Total
|
|
26,321,870
|
|
Total Consumer Discretionary
|
123,892,897
|
|
|
Consumer Staples 3.6%
|
||
|
Beverages 0.8%
|
||
|
Molson Coors Beverage Co., Class B
|
120,048
|
5,432,172
|
|
PepsiCo, Inc.
|
70,000
|
9,830,800
|
|
Total
|
|
15,262,972
|
|
Consumer Staples Distribution & Retail 0.3%
|
||
|
Target Corp.
|
72,785
|
6,528,814
|
|
Food Products 0.7%
|
||
|
ConAgra Foods, Inc.
|
324,624
|
5,943,865
|
|
Mondelez International, Inc., Class A
|
122,500
|
7,652,575
|
|
Total
|
|
13,596,440
|
|
Household Products 0.4%
|
||
|
Colgate-Palmolive Co.
|
93,405
|
7,466,796
|
|
Kimberly-Clark Corp.
|
9,282
|
1,154,124
|
|
Total
|
|
8,620,920
|
|
Personal Care Products 0.2%
|
||
|
Kenvue, Inc.
|
285,000
|
4,625,550
|
|
Tobacco 1.2%
|
||
|
Altria Group, Inc.
|
288,043
|
19,028,121
|
|
Philip Morris International, Inc.
|
30,000
|
4,866,000
|
|
Total
|
|
23,894,121
|
|
Total Consumer Staples
|
72,528,817
|
|
|
Energy 3.1%
|
||
|
Oil, Gas & Consumable Fuels 3.1%
|
||
|
Chevron Corp.
|
195,761
|
30,399,726
|
|
Diamondback Energy, Inc.
|
37,500
|
5,366,250
|
|
EOG Resources, Inc.
|
42,500
|
4,765,100
|
|
Exxon Mobil Corp.
|
138,149
|
15,576,300
|
|
Valero Energy Corp.
|
35,131
|
5,981,404
|
|
Total
|
|
62,088,780
|
|
Total Energy
|
62,088,780
|
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Financials 9.9%
|
||
|
Banks 2.9%
|
||
|
Citigroup, Inc.
|
205,209
|
20,828,713
|
|
JPMorgan Chase & Co.
|
51,420
|
16,219,411
|
|
M&T Bank Corp.
|
50,000
|
9,881,000
|
|
U.S. Bancorp
|
210,000
|
10,149,300
|
|
Total
|
|
57,078,424
|
|
Capital Markets 2.8%
|
||
|
Ares Capital Corp.
|
350,000
|
7,143,500
|
|
Bank of New York Mellon Corp. (The)
|
41,400
|
4,510,944
|
|
Blackrock, Inc.
|
11,903
|
13,877,351
|
|
Blackstone Secured Lending Fund
|
190,000
|
4,953,300
|
|
CME Group, Inc.
|
58,626
|
15,840,159
|
|
Morgan Stanley
|
65,000
|
10,332,400
|
|
Total
|
|
56,657,654
|
|
Consumer Finance 0.9%
|
||
|
Synchrony Financial
|
243,488
|
17,299,822
|
|
Financial Services 1.9%
|
||
|
Clovis Liquidation Trust(a),(b),(c)
|
9,371,357
|
93,714
|
|
Fiserv, Inc.(a)
|
98,083
|
12,645,841
|
|
Visa, Inc., Class A
|
74,093
|
25,293,868
|
|
Total
|
|
38,033,423
|
|
Insurance 0.9%
|
||
|
Allstate Corp. (The)
|
52,371
|
11,241,435
|
|
MetLife, Inc.
|
95,000
|
7,825,150
|
|
Total
|
|
19,066,585
|
|
Mortgage Real Estate Investment Trusts (REITS) 0.5%
|
||
|
Starwood Property Trust, Inc.
|
500,000
|
9,685,000
|
|
Total Financials
|
197,820,908
|
|
|
Health Care 7.0%
|
||
|
Biotechnology 1.9%
|
||
|
AbbVie, Inc.
|
78,250
|
18,118,005
|
|
Amgen, Inc.
|
38,210
|
10,782,862
|
|
Argenx SE, ADR(a)
|
1,348
|
994,231
|
|
BioMarin Pharmaceutical, Inc.(a)
|
21,253
|
1,151,063
|
|
Regeneron Pharmaceuticals, Inc.
|
4,204
|
2,363,783
|
|
Vertex Pharmaceuticals, Inc.(a)
|
11,427
|
4,475,270
|
|
Total
|
|
37,885,214
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Health Care Equipment & Supplies 0.4%
|
||
|
Align Technology, Inc.(a)
|
8,000
|
1,001,760
|
|
Baxter International, Inc.
|
64,458
|
1,467,709
|
|
Medtronic PLC
|
57,500
|
5,476,300
|
|
Total
|
|
7,945,769
|
|
Health Care Providers & Services 1.4%
|
||
|
CVS Health Corp.
|
219,791
|
16,570,043
|
|
McKesson Corp.
|
14,894
|
11,506,211
|
|
Total
|
|
28,076,254
|
|
Life Sciences Tools & Services 0.4%
|
||
|
Charles River Laboratories International, Inc.(a)
|
40,800
|
6,383,568
|
|
IQVIA Holdings, Inc.(a)
|
11,876
|
2,255,727
|
|
Total
|
|
8,639,295
|
|
Pharmaceuticals 2.9%
|
||
|
Bristol-Myers Squibb Co.
|
545,589
|
24,606,064
|
|
Merck & Co., Inc.
|
92,500
|
7,763,525
|
|
Pfizer, Inc.
|
513,200
|
13,076,336
|
|
Viatris, Inc.
|
1,179,020
|
11,672,298
|
|
Total
|
|
57,118,223
|
|
Total Health Care
|
139,664,755
|
|
|
Industrials 5.3%
|
||
|
Aerospace & Defense 0.9%
|
||
|
General Dynamics Corp.
|
10,800
|
3,682,800
|
|
Lockheed Martin Corp.
|
16,500
|
8,236,965
|
|
RTX Corp.
|
32,500
|
5,438,225
|
|
Total
|
|
17,357,990
|
|
Building Products 1.0%
|
||
|
Johnson Controls International PLC
|
154,639
|
17,002,558
|
|
Masco Corp.
|
25,701
|
1,809,093
|
|
Trane Technologies PLC
|
5,378
|
2,269,301
|
|
Total
|
|
21,080,952
|
|
Ground Transportation 0.5%
|
||
|
Uber Technologies, Inc.(a)
|
42,034
|
4,118,071
|
|
Union Pacific Corp.
|
23,500
|
5,554,695
|
|
Total
|
|
9,672,766
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Machinery 1.7%
|
||
|
Pentair PLC
|
145,524
|
16,118,239
|
|
Snap-On, Inc.
|
37,306
|
12,927,648
|
|
Stanley Black & Decker, Inc.
|
75,000
|
5,574,750
|
|
Total
|
|
34,620,637
|
|
Passenger Airlines 0.4%
|
||
|
Delta Air Lines, Inc.
|
61,425
|
3,485,869
|
|
United Airlines Holdings, Inc.(a)
|
52,619
|
5,077,733
|
|
Total
|
|
8,563,602
|
|
Professional Services 0.8%
|
||
|
Automatic Data Processing, Inc.
|
51,793
|
15,201,246
|
|
Total Industrials
|
106,497,193
|
|
|
Information Technology 19.3%
|
||
|
Communications Equipment 2.0%
|
||
|
Arista Networks, Inc.(a)
|
121,379
|
17,686,134
|
|
Cisco Systems, Inc.
|
235,808
|
16,133,983
|
|
F5, Inc.(a)
|
17,700
|
5,720,463
|
|
Total
|
|
39,540,580
|
|
Electronic Equipment, Instruments & Components 0.5%
|
||
|
Corning, Inc.
|
130,000
|
10,663,900
|
|
IT Services 0.5%
|
||
|
International Business Machines Corp.
|
20,000
|
5,643,200
|
|
VeriSign, Inc.
|
15,045
|
4,206,131
|
|
Total
|
|
9,849,331
|
|
Semiconductors & Semiconductor Equipment 7.0%
|
||
|
Broadcom, Inc.
|
49,457
|
16,316,359
|
|
NVIDIA Corp.
|
514,639
|
96,021,344
|
|
Qorvo, Inc.(a)
|
15,513
|
1,412,924
|
|
QUALCOMM, Inc.
|
111,728
|
18,587,070
|
|
Texas Instruments, Inc.
|
42,500
|
7,808,525
|
|
Total
|
|
140,146,222
|
|
Software 5.6%
|
||
|
Adobe, Inc.(a)
|
52,449
|
18,501,385
|
|
Fortinet, Inc.(a)
|
36,714
|
3,086,913
|
|
Microsoft Corp.
|
102,694
|
53,190,357
|
|
Palantir Technologies, Inc., Class A(a)
|
43,900
|
8,008,238
|
|
Palo Alto Networks, Inc.(a)
|
45,313
|
9,226,633
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Salesforce, Inc.
|
72,773
|
17,247,201
|
|
ServiceNow, Inc.(a)
|
3,345
|
3,078,337
|
|
Total
|
|
112,339,064
|
|
Technology Hardware, Storage & Peripherals 3.7%
|
||
|
Apple, Inc.(d)
|
238,336
|
60,687,496
|
|
HP, Inc.
|
300,000
|
8,169,000
|
|
NetApp, Inc.
|
38,859
|
4,603,237
|
|
Total
|
|
73,459,733
|
|
Total Information Technology
|
385,998,830
|
|
|
Materials 1.8%
|
||
|
Chemicals 1.2%
|
||
|
CF Industries Holdings, Inc.
|
147,452
|
13,226,445
|
|
LyondellBasell Industries NV, Class A
|
100,000
|
4,904,000
|
|
Nutrien Ltd.
|
90,000
|
5,283,900
|
|
Total
|
|
23,414,345
|
|
Containers & Packaging 0.3%
|
||
|
International Paper Co.
|
110,000
|
5,104,000
|
|
Metals & Mining 0.3%
|
||
|
Newmont Corp.
|
79,475
|
6,700,537
|
|
Total Materials
|
35,218,882
|
|
|
Real Estate 2.1%
|
||
|
Hotel & Resort REITs 0.1%
|
||
|
Host Hotels & Resorts, Inc.
|
86,342
|
1,469,541
|
|
Industrial REITs 0.3%
|
||
|
Prologis, Inc.
|
47,500
|
5,439,700
|
|
Office REITs 0.3%
|
||
|
BXP, Inc.
|
75,000
|
5,575,500
|
|
Residential REITs 0.2%
|
||
|
Invitation Homes, Inc.
|
175,000
|
5,132,750
|
|
Retail REITs 0.2%
|
||
|
Realty Income Corp.
|
87,500
|
5,319,125
|
|
Specialized REITs 1.0%
|
||
|
American Tower Corp.
|
37,593
|
7,229,885
|
|
Equinix, Inc.
|
4,599
|
3,602,121
|
|
Common Stocks (continued)
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
SBA Communications Corp.
|
19,437
|
3,758,144
|
|
VICI Properties, Inc.
|
152,500
|
4,973,025
|
|
Total
|
|
19,563,175
|
|
Total Real Estate
|
42,499,791
|
|
|
Utilities 2.3%
|
||
|
Electric Utilities 1.8%
|
||
|
Duke Energy Corp.
|
42,500
|
5,259,375
|
|
Edison International
|
92,762
|
5,127,883
|
|
Entergy Corp.
|
57,500
|
5,358,425
|
|
Exelon Corp.
|
134,400
|
6,049,344
|
|
FirstEnergy Corp.
|
115,000
|
5,269,300
|
|
PG&E Corp.
|
570,012
|
8,595,781
|
|
Total
|
|
35,660,108
|
|
Gas Utilities 0.3%
|
||
|
UGI Corp.
|
150,000
|
4,989,000
|
|
Independent Power and Renewable Electricity Producers 0.2%
|
||
|
AES Corp. (The)
|
323,492
|
4,257,155
|
|
Total Utilities
|
44,906,263
|
|
|
Total Common Stocks
(Cost $899,126,604)
|
1,337,588,444
|
|
|
Convertible Bonds 6.5%
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount
($)
|
Value ($)
|
|
Aerospace & Defense 0.3%
|
||||
|
Intuitive Machines, Inc.(e)
|
||||
|
10/01/2030
|
2.500%
|
|
5,000,000
|
5,456,250
|
|
Automotive 0.3%
|
||||
|
Rivian Automotive, Inc.
|
||||
|
03/15/2029
|
4.625%
|
|
5,200,000
|
5,384,600
|
|
Brokerage/Asset Managers/Exchanges 0.5%
|
||||
|
Galaxy Digital Holdings LP(e)
|
||||
|
12/01/2029
|
2.500%
|
|
3,000,000
|
4,951,709
|
|
WisdomTree, Inc.(e)
|
||||
|
08/15/2030
|
4.625%
|
|
5,000,000
|
5,295,792
|
|
Total
|
10,247,501
|
|||
|
Cable and Satellite 0.1%
|
||||
|
BlackSky Technology, Inc.(e)
|
||||
|
08/01/2033
|
8.250%
|
|
2,500,000
|
2,806,760
|
|
Convertible Bonds (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount
($)
|
Value ($)
|
|
Consumer Products 0.3%
|
||||
|
LCI Industries(e)
|
||||
|
03/01/2030
|
3.000%
|
|
4,900,000
|
5,002,900
|
|
Diversified Manufacturing 0.2%
|
||||
|
Greenbrier Companies, Inc. (The)
|
||||
|
04/15/2028
|
2.875%
|
|
4,300,000
|
4,602,720
|
|
Electric 0.6%
|
||||
|
PG&E Corp.
|
||||
|
12/01/2027
|
4.250%
|
|
5,000,000
|
5,056,500
|
|
WEC Energy Group, Inc.
|
||||
|
06/01/2029
|
4.375%
|
|
6,000,000
|
7,359,000
|
|
Total
|
12,415,500
|
|||
|
Finance Companies 0.3%
|
||||
|
Hercules Capital, Inc.(e)
|
||||
|
09/01/2028
|
4.750%
|
|
5,100,000
|
5,066,547
|
|
Healthcare REIT 0.3%
|
||||
|
Welltower OP LLC(e)
|
||||
|
07/15/2029
|
3.125%
|
|
3,500,000
|
5,139,750
|
|
Leisure 0.2%
|
||||
|
Carnival Corp.
|
||||
|
12/01/2027
|
5.750%
|
|
2,000,000
|
4,466,870
|
|
Life Insurance 0.1%
|
||||
|
Oscar Health, Inc.(e)
|
||||
|
09/01/2030
|
2.250%
|
|
2,600,000
|
2,859,559
|
|
Other Financial Institutions 0.7%
|
||||
|
MARA Holdings, Inc.(e),(f)
|
||||
|
06/01/2031
|
0.000%
|
|
8,000,000
|
7,572,662
|
|
RWT Holdings, Inc.
|
||||
|
10/01/2025
|
5.750%
|
|
6,000,000
|
5,999,705
|
|
Total
|
13,572,367
|
|||
|
Other REIT 0.5%
|
||||
|
PennyMac Corp.
|
||||
|
03/15/2026
|
5.500%
|
|
9,500,000
|
9,433,500
|
|
Pharmaceuticals 0.4%
|
||||
|
Bridgebio Pharma, Inc.(e)
|
||||
|
03/01/2031
|
1.750%
|
|
2,800,000
|
3,732,400
|
|
BridgeBio Pharma, Inc.
|
||||
|
02/01/2029
|
2.250%
|
|
1,500,000
|
1,476,750
|
|
Convertible Bonds (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount
($)
|
Value ($)
|
|
Cytokinetics, Inc.(e)
|
||||
|
10/01/2031
|
1.750%
|
|
3,000,000
|
3,421,129
|
|
Total
|
8,630,279
|
|||
|
Retailers 0.0%
|
||||
|
Farfetch Ltd.(g)
|
||||
|
05/01/2027
|
0.000%
|
|
5,300,000
|
19,875
|
|
Technology 1.2%
|
||||
|
Celcuity, Inc.
|
||||
|
08/01/2031
|
2.750%
|
|
2,400,000
|
3,186,618
|
|
CSG Systems International, Inc.
|
||||
|
09/15/2028
|
3.875%
|
|
4,500,000
|
4,992,750
|
|
Eos Energy Enterprises, Inc.(e)
|
||||
|
06/15/2030
|
6.750%
|
|
2,200,000
|
5,217,300
|
|
MicroStrategy, Inc.(e),(f)
|
||||
|
12/01/2029
|
0.000%
|
|
5,700,000
|
5,101,561
|
|
Progress Software Corp.
|
||||
|
03/01/2030
|
3.500%
|
|
5,300,000
|
5,329,238
|
|
Total
|
23,827,467
|
|||
|
Transportation Services 0.2%
|
||||
|
Hertz Corp. (The)(e)
|
||||
|
10/01/2030
|
5.500%
|
|
4,800,000
|
4,836,393
|
|
Wireless 0.3%
|
||||
|
AST SpaceMobile, Inc.(e)
|
||||
|
10/15/2032
|
2.375%
|
|
5,000,000
|
5,182,500
|
|
Total Convertible Bonds
(Cost $119,585,872)
|
128,951,338
|
|||
|
Convertible Preferred Stocks 4.9%
|
|||
|
Issuer
|
|
Shares
|
Value ($)
|
|
Financials 1.4%
|
|||
|
Banks 0.5%
|
|||
|
Bank of America Corp.(h)
|
7.250%
|
8,000
|
10,243,201
|
|
Capital Markets 0.7%
|
|||
|
Ares Management Corp.
|
6.750%
|
95,000
|
4,730,050
|
|
KKR & Co., Inc.
|
6.250%
|
180,000
|
9,388,800
|
|
Total
|
|
|
14,118,850
|
|
Financial Services 0.2%
|
|||
|
Shift4 Payments, Inc.
|
6.000%
|
50,000
|
4,720,500
|
|
Total Financials
|
29,082,551
|
||
|
Convertible Preferred Stocks (continued)
|
|||
|
Issuer
|
|
Shares
|
Value ($)
|
|
Health Care 0.6%
|
|||
|
Health Care Providers & Services 0.3%
|
|||
|
BrightSpring Health Services, Inc.
|
6.750%
|
60,000
|
6,081,126
|
|
Life Sciences Tools & Services 0.3%
|
|||
|
Bruker Corp.
|
6.375%
|
20,000
|
5,436,000
|
|
Total Health Care
|
11,517,126
|
||
|
Industrials 0.9%
|
|||
|
Aerospace & Defense 0.5%
|
|||
|
Boeing Co. (The)
|
6.000%
|
160,000
|
11,113,600
|
|
Trading Companies & Distributors 0.4%
|
|||
|
QXO, Inc.
|
5.500%
|
135,000
|
7,459,397
|
|
Total Industrials
|
18,572,997
|
||
|
Information Technology 0.9%
|
|||
|
Semiconductors & Semiconductor Equipment 0.4%
|
|||
|
Microchip Technology, Inc.
|
7.500%
|
125,000
|
7,378,750
|
|
Technology Hardware, Storage & Peripherals 0.5%
|
|||
|
Hewlett Packard Enterprise Co.
|
7.625%
|
155,000
|
10,613,754
|
|
Total Information Technology
|
17,992,504
|
||
|
Materials 0.3%
|
|||
|
Chemicals 0.3%
|
|||
|
Albemarle Corp.
|
7.250%
|
150,000
|
5,713,500
|
|
Total Materials
|
5,713,500
|
||
|
Utilities 0.8%
|
|||
|
Electric Utilities 0.8%
|
|||
|
Nextera Energy, Inc.
|
7.234%
|
120,000
|
5,642,400
|
|
NextEra Energy, Inc.
|
7.299%
|
100,000
|
5,011,195
|
|
PG&E Corp.
|
6.000%
|
135,000
|
5,345,916
|
|
Total
|
|
|
15,999,511
|
|
Total Utilities
|
15,999,511
|
||
|
Total Convertible Preferred Stocks
(Cost $91,525,276)
|
98,878,189
|
||
|
Corporate Bonds & Notes 20.0%
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
Aerospace & Defense 0.6%
|
||||
|
Boeing Co. (The)
|
||||
|
05/01/2054
|
6.858%
|
|
4,500,000
|
5,133,514
|
|
Corporate Bonds & Notes (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
United Technologies Corp.
|
||||
|
06/01/2042
|
4.500%
|
|
8,500,000
|
7,684,638
|
|
Total
|
12,818,152
|
|||
|
Airlines 0.2%
|
||||
|
American Airlines, Inc.(e)
|
||||
|
02/15/2028
|
7.250%
|
|
4,700,000
|
4,811,843
|
|
Apartment REIT 0.3%
|
||||
|
Invitation Homes Operating Partnership LP
|
||||
|
02/01/2035
|
4.875%
|
|
5,000,000
|
4,937,322
|
|
Automotive 0.6%
|
||||
|
American Axle & Manufacturing, Inc.(e),(i)
|
||||
|
10/15/2033
|
7.750%
|
|
5,000,000
|
5,039,297
|
|
Nissan Motor Co., Ltd.(e)
|
||||
|
07/17/2030
|
7.500%
|
|
5,000,000
|
5,249,753
|
|
Rivian Holdings/Automotive LLC(e)
|
||||
|
01/15/2031
|
10.000%
|
|
2,700,000
|
2,519,139
|
|
Total
|
12,808,189
|
|||
|
Banking 1.0%
|
||||
|
Citigroup, Inc.(j)
|
||||
|
Subordinated
|
||||
|
09/19/2039
|
5.411%
|
|
5,000,000
|
5,024,227
|
|
JPMorgan Chase & Co.(h),(j)
|
||||
|
|
6.500%
|
|
4,700,000
|
4,866,658
|
|
JPMorgan Chase & Co.(j)
|
||||
|
04/22/2052
|
3.328%
|
|
7,000,000
|
5,005,301
|
|
M&T Bank Corp.(j)
|
||||
|
01/16/2036
|
5.385%
|
|
5,100,000
|
5,170,865
|
|
Total
|
20,067,051
|
|||
|
Building Materials 0.3%
|
||||
|
Stanley Black & Decker, Inc.
|
||||
|
11/15/2048
|
4.850%
|
|
6,000,000
|
5,235,307
|
|
Cable and Satellite 0.1%
|
||||
|
Telesat Canada/LLC(e)
|
||||
|
10/15/2027
|
6.500%
|
|
5,286,000
|
2,612,657
|
|
Chemicals 0.8%
|
||||
|
INEOS Finance PLC(e)
|
||||
|
04/15/2029
|
7.500%
|
|
4,500,000
|
4,409,336
|
|
Innophos Holdings, Inc.(e)
|
||||
|
06/15/2029
|
11.500%
|
|
4,600,000
|
4,538,234
|
|
Olympus Water US Holding Corp.(e)
|
||||
|
10/01/2029
|
6.250%
|
|
7,500,000
|
7,278,391
|
|
Total
|
16,225,961
|
|||
|
Corporate Bonds & Notes (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
Construction Machinery 0.1%
|
||||
|
Vortex Opco LLC.(e)
|
||||
|
04/30/2030
|
8.000%
|
|
4,890,600
|
488,774
|
|
Vortex Opco LLC.(e),(k)
|
||||
|
3-month Term SOFR + 6.250%
Floor 0.500%
04/30/2030
|
10.842%
|
|
1,123,200
|
1,070,614
|
|
Total
|
1,559,388
|
|||
|
Consumer Products 0.7%
|
||||
|
Mattel, Inc.(e)
|
||||
|
04/01/2029
|
3.750%
|
|
2,700,000
|
2,611,871
|
|
Mattel, Inc.
|
||||
|
10/01/2040
|
6.200%
|
|
1,430,000
|
1,451,889
|
|
11/01/2041
|
5.450%
|
|
745,000
|
686,224
|
|
Newell Brands, Inc.(j)
|
||||
|
04/01/2036
|
7.375%
|
|
2,500,000
|
2,492,793
|
|
Newell Brands, Inc.
|
||||
|
04/01/2046
|
7.000%
|
|
4,200,000
|
3,711,585
|
|
SWF Escrow Issuer Corp.(e)
|
||||
|
10/01/2029
|
6.500%
|
|
7,500,000
|
2,951,482
|
|
Total
|
13,905,844
|
|||
|
Electric 1.9%
|
||||
|
Duke Energy Corp.(j)
|
||||
|
09/01/2054
|
6.450%
|
|
4,900,000
|
5,178,233
|
|
Entergy Corp.(j)
|
||||
|
12/01/2054
|
7.125%
|
|
4,700,000
|
4,921,528
|
|
Entergy Louisiana LLC
|
||||
|
03/15/2055
|
5.800%
|
|
5,000,000
|
5,128,830
|
|
FirstEnergy Corp.
|
||||
|
03/01/2050
|
3.400%
|
|
14,000,000
|
9,755,576
|
|
Pacific Gas and Electric Co.
|
||||
|
07/01/2050
|
4.950%
|
|
6,000,000
|
5,169,163
|
|
Wisconsin Electric Power Co.
|
||||
|
10/01/2054
|
5.050%
|
|
8,200,000
|
7,684,098
|
|
Total
|
37,837,428
|
|||
|
Food and Beverage 1.0%
|
||||
|
Mars, Inc.(e)
|
||||
|
05/01/2045
|
5.650%
|
|
4,800,000
|
4,872,079
|
|
Primo Water Holdings, Inc./Triton Water Holdings, Inc.(e)
|
||||
|
04/01/2029
|
6.250%
|
|
7,000,000
|
7,009,007
|
|
United Natural Foods, Inc.(e)
|
||||
|
10/15/2028
|
6.750%
|
|
7,180,000
|
7,169,579
|
|
Total
|
19,050,665
|
|||
|
Corporate Bonds & Notes (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
Gaming 0.4%
|
||||
|
Scientific Games Holdings LP/US FinCo, Inc.(e)
|
||||
|
03/01/2030
|
6.625%
|
|
9,500,000
|
8,826,200
|
|
Health Care 1.3%
|
||||
|
Acadia Healthcare Co., Inc.(e)
|
||||
|
04/15/2029
|
5.000%
|
|
7,700,000
|
7,556,820
|
|
CVS Health Corp.
|
||||
|
07/20/2045
|
5.125%
|
|
3,000,000
|
2,721,873
|
|
CVS Health Corp.(j)
|
||||
|
03/10/2055
|
7.000%
|
|
4,500,000
|
4,735,141
|
|
Quotient Ltd.(b),(c),(e),(l)
|
||||
|
04/15/2030
|
12.000%
|
|
3,399,959
|
3,297,960
|
|
Star Parent, Inc.(e)
|
||||
|
10/01/2030
|
9.000%
|
|
6,800,000
|
7,202,400
|
|
Total
|
25,514,194
|
|||
|
Independent Energy 1.2%
|
||||
|
Hilcorp Energy I LP/Finance Co.(e)
|
||||
|
04/15/2030
|
6.000%
|
|
10,000,000
|
9,854,960
|
|
Occidental Petroleum Corp.
|
||||
|
07/15/2044
|
4.500%
|
|
9,340,000
|
7,278,201
|
|
04/15/2046
|
4.400%
|
|
9,600,000
|
7,532,812
|
|
Total
|
24,665,973
|
|||
|
Leisure 0.2%
|
||||
|
Carnival Corp.(e)
|
||||
|
02/15/2033
|
6.125%
|
|
4,750,000
|
4,870,216
|
|
Life Insurance 0.3%
|
||||
|
MetLife, Inc.
|
||||
|
07/15/2052
|
5.000%
|
|
5,500,000
|
5,134,120
|
|
Media and Entertainment 1.4%
|
||||
|
Clear Channel Outdoor Holdings, Inc.(e)
|
||||
|
04/15/2028
|
7.750%
|
|
9,800,000
|
9,786,143
|
|
Deluxe Corp.(e)
|
||||
|
06/01/2029
|
8.000%
|
|
5,000,000
|
4,989,778
|
|
Lions Gate Capital Holdings LLC(e)
|
||||
|
04/15/2029
|
5.500%
|
|
11,500,000
|
9,429,061
|
|
Mav Acquisition Corp.(e)
|
||||
|
08/01/2029
|
8.000%
|
|
4,500,000
|
4,582,060
|
|
Total
|
28,787,042
|
|||
|
Midstream 0.3%
|
||||
|
AmeriGas Partners LP/Finance Corp.(e)
|
||||
|
06/01/2030
|
9.500%
|
|
4,700,000
|
4,922,064
|
|
Corporate Bonds & Notes (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
Oil Field Services 0.9%
|
||||
|
Nabors Industries Ltd.(e)
|
||||
|
01/15/2028
|
7.500%
|
|
5,000,000
|
4,995,260
|
|
Nabors Industries, Inc.(e)
|
||||
|
08/15/2031
|
8.875%
|
|
5,500,000
|
5,123,232
|
|
Transocean Aquila Ltd.(e)
|
||||
|
09/30/2028
|
8.000%
|
|
3,760,000
|
3,868,710
|
|
Transocean Titan Financing Ltd.(e)
|
||||
|
02/01/2028
|
8.375%
|
|
4,139,096
|
4,244,812
|
|
Total
|
18,232,014
|
|||
|
Other Financial Institutions —%
|
||||
|
WeWork Companies US LLC(b),(c),(e)
|
||||
|
08/15/2027
|
0.000%
|
|
4,500,000
|
0
|
|
Other REIT 0.2%
|
||||
|
Prologis LP
|
||||
|
03/15/2054
|
5.250%
|
|
5,000,000
|
4,832,235
|
|
Packaging 0.5%
|
||||
|
Mauser Packaging Solutions Holding Co.(e)
|
||||
|
04/15/2027
|
9.250%
|
|
9,000,000
|
9,016,475
|
|
Pharmaceuticals 1.1%
|
||||
|
1261229 BC Ltd.(e)
|
||||
|
04/15/2032
|
10.000%
|
|
4,800,000
|
4,929,364
|
|
AbbVie, Inc.
|
||||
|
03/15/2055
|
5.600%
|
|
5,000,000
|
5,114,038
|
|
Bausch Health Companies, Inc.(e)
|
||||
|
09/30/2028
|
11.000%
|
|
2,215,000
|
2,310,883
|
|
Merck & Co., Inc.
|
||||
|
05/17/2053
|
5.000%
|
|
5,000,000
|
4,695,043
|
|
Organon & Co./Foreign Debt Co-Issuer BV(e)
|
||||
|
05/15/2034
|
7.875%
|
|
3,900,000
|
3,617,012
|
|
Organon Finance 1 LLC(e)
|
||||
|
04/30/2031
|
5.125%
|
|
1,600,000
|
1,399,946
|
|
Total
|
22,066,286
|
|||
|
Railroads 0.3%
|
||||
|
Union Pacific Corp.
|
||||
|
02/20/2035
|
5.100%
|
|
4,900,000
|
5,039,672
|
|
Restaurants 0.5%
|
||||
|
Fertitta Entertainment LLC/Finance Co., Inc.(e)
|
||||
|
01/15/2030
|
6.750%
|
|
10,500,000
|
9,860,299
|
|
Retailers 0.5%
|
||||
|
Hanesbrands, Inc.(e)
|
||||
|
02/15/2031
|
9.000%
|
|
4,200,000
|
4,448,629
|
|
Corporate Bonds & Notes (continued)
|
||||
|
Issuer
|
Coupon
Rate
|
|
Principal
Amount ($)
|
Value ($)
|
|
Magic MergeCo, Inc.(e)
|
||||
|
05/01/2029
|
7.875%
|
|
7,500,000
|
6,282,820
|
|
Total
|
10,731,449
|
|||
|
Supermarkets 0.2%
|
||||
|
Safeway, Inc.
|
||||
|
02/01/2031
|
7.250%
|
|
4,200,000
|
4,543,421
|
|
Technology 2.6%
|
||||
|
Broadcom, Inc.(e)
|
||||
|
02/15/2041
|
3.500%
|
|
6,200,000
|
5,101,787
|
|
Cloud Software Group, Inc.(e)
|
||||
|
09/30/2029
|
9.000%
|
|
4,500,000
|
4,663,261
|
|
Consensus Cloud Solutions, Inc.(e)
|
||||
|
10/15/2026
|
6.000%
|
|
5,000,000
|
4,992,987
|
|
Hewlett Packard Enterprise Co.
|
||||
|
10/15/2054
|
5.600%
|
|
5,200,000
|
4,974,840
|
|
International Business Machines Corp.
|
||||
|
02/06/2053
|
5.100%
|
|
5,500,000
|
5,153,580
|
|
Minerva Merger Sub, Inc.(e)
|
||||
|
02/15/2030
|
6.500%
|
|
8,000,000
|
7,936,427
|
|
Neptune Bidco US, Inc.(e)
|
||||
|
04/15/2029
|
9.290%
|
|
7,254,000
|
7,121,369
|
|
Picard Midco, Inc.(e)
|
||||
|
03/31/2029
|
6.500%
|
|
4,700,000
|
4,744,764
|
|
Rocket Software, Inc.(e)
|
||||
|
02/15/2029
|
6.500%
|
|
7,200,000
|
7,020,673
|
|
Total
|
51,709,688
|
|||
|
Tobacco 0.3%
|
||||
|
Philip Morris International, Inc.
|
||||
|
04/30/2030
|
4.375%
|
|
5,000,000
|
5,023,752
|
|
Transportation Services 0.2%
|
||||
|
Hertz Corp. (The)(e)
|
||||
|
07/15/2029
|
12.625%
|
|
4,600,000
|
4,875,354
|
|
Total Corporate Bonds & Notes
(Cost $407,371,848)
|
400,520,261
|
|||
|
Preferred Debt 0.3%
|
||||
|
Issuer
|
Coupon
Rate
|
|
Shares
|
Value ($)
|
|
Banking 0.3%
|
||||
|
Citigroup Capital XIII(j)
|
||||
|
10/30/2040
|
10.942%
|
|
165,000
|
4,978,050
|
|
Total Preferred Debt
(Cost $4,356,642)
|
4,978,050
|
|||
|
Warrants —%
|
||
|
Issuer
|
Shares
|
Value ($)
|
|
Health Care —%
|
||
|
Health Care Equipment & Supplies —%
|
||
|
Quotient Ltd.(a),(b),(c)
10/13/2026
|
39,425
|
0
|
|
Quotient Ltd.(a),(b),(c)
07/06/2027
|
181,609
|
0
|
|
Total
|
|
0
|
|
Total Health Care
|
0
|
|
|
Total Warrants
(Cost $—)
|
0
|
|
|
|
||
|
Money Market Funds 1.1%
|
||
|
|
Shares
|
Value ($)
|
|
Columbia Short-Term Cash Fund, 4.265%(m),(n)
|
22,798,608
|
22,791,769
|
|
Total Money Market Funds
(Cost $22,789,742)
|
22,791,769
|
|
|
Total Investments in Securities
(Cost: $1,544,755,984)
|
1,993,708,051
|
|
|
Other Assets & Liabilities, Net
|
|
5,014,530
|
|
Net Assets
|
1,998,722,581
|
|
|
Long futures contracts
|
||||||
|
Description
|
Number of
contracts
|
Expiration
date
|
Trading
currency
|
Notional
amount
|
Value/Unrealized
appreciation ($)
|
Value/Unrealized
depreciation ($)
|
|
S&P 500 Index E-mini
|
43
|
12/2025
|
USD
|
14,488,313
|
194,146
|
—
|
|
(a)
|
Non-income producing investment.
|
|
(b)
|
Represents fair value as determined in good faith under procedures approved by the
Board of Directors. At September 30, 2025, the total value of these securities amounted to $3,391,674, which represents 0.17% of total net assets.
|
|
(c)
|
Valuation based on significant unobservable inputs.
|
|
(d)
|
This security or a portion of this security has been pledged as collateral in connection
with investments sold short and/or derivative contracts.
|
|
(e)
|
Represents privately placed and other securities and instruments exempt from Securities
and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only
to qualified institutional buyers. At September 30, 2025, the total value of these
securities amounted to $316,146,994, which represents 15.82% of total net assets.
|
|
(f)
|
Zero coupon bond.
|
|
(g)
|
Represents a security in default.
|
|
(h)
|
Perpetual security with no specified maturity date.
|
|
(i)
|
Represents a security purchased on a when-issued basis.
|
|
(j)
|
Represents a variable rate security with a step coupon where the rate adjusts according
to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the
current rate as of September 30, 2025.
|
|
(k)
|
Variable rate security. The interest rate shown was the current rate as of September
30, 2025.
|
|
(l)
|
Payment-in-kind security. Interest can be paid by issuing additional par of the security
or in cash.
|
|
(m)
|
The rate shown is the seven-day current annualized yield at September 30, 2025.
|
|
(n)
|
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the
holdings and transactions in these affiliated companies during the period ended September 30, 2025 are as follows:
|
|
Affiliated issuers
|
Beginning
of period($)
|
Purchases($)
|
Sales($)
|
Net change in
unrealized
appreciation
(depreciation)($)
|
End of
period($)
|
Realized gain
(loss)($)
|
Dividends($)
|
End of
period shares
|
|
Columbia Short-Term Cash Fund, 4.265%
|
||||||||
|
|
24,998,794
|
265,768,208
|
(267,974,699
)
|
(534
)
|
22,791,769
|
(2,826
)
|
632,698
|
22,798,608
|
|
ADR
|
American Depositary Receipt
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
USD
|
US Dollar
|