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PRINCIPAL AMOUNT			VALUE
	CORPORATE BONDS (19.2%)
		*Airlines (0.5%)*
	343,475	Air Canada Pass Through Trust Series 2015-1, Class B* 3.875%, 09/15/24	$	337,454
	55,000	Air Canada Pass Through Trust Series 2015-2, Class B* 5.000%, 06/15/25		53,896
	229,429	Alaska Airlines Pass Through Trust Series 2020-1, Class A* 4.800%, 02/15/29		226,453
	150,144	Alaska Airlines Pass Through Trust Series 2020-1, Class B* 8.000%, 02/15/27		157,682
	257,000	American Airlines Pass Through Trust Series 2021-1, Class B 3.950%, 01/11/32		215,536
		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
	169,000	5.500%, 04/20/26		166,822
	56,000	5.750%, 04/20/29		53,689
	248,755	British Airways Pass Through Trust Series 2021-1, Class B* 3.900%, 03/15/33		214,902
	182,194	JetBlue Pass Through Trust Series 2020-1, Class B 7.750%, 05/15/30		183,728
	131,000	Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.* 8.000%, 09/20/25		136,658
	171,855	United Airlines Pass Through Trust Series 2014-2, Class B 4.625%, 03/03/24		170,906
	109,329	United Airlines Pass Through Trust Series 2019-2, Class B 3.500%, 11/01/29		94,707

				2,012,433

		*Communication Services (1.8%)*
	250,000	Altice France, SA* 5.500%, 10/15/29		216,202
	260,000	APi Escrow Corp.* 4.750%, 10/15/29		219,419
	335,000	Arrow Bidco, LLC* 9.500%, 03/15/24		337,901
		Audacy Capital Corp.*
	113,000	6.750%, 03/31/29		54,796
	100,000	6.500%, 05/01/27		49,623
	169,000	Beasley Mezzanine Holdings, LLC* 8.625%, 02/01/26		128,908
	82,000	Cincinnati Bell Telephone Company, LLC 6.300%, 12/01/28		75,078
	330,000	Consolidated Communications, Inc.* 6.500%, 10/01/28		284,335
		CSC Holdings, LLC*
	410,000	5.500%, 04/15/27		397,491
	400,000	4.625%, 12/01/30		304,560
	335,000	5.375%, 02/01/28		318,588
	300,000	5.750%, 01/15/30		242,379
	200,000	4.500%, 11/15/31		170,386


PRINCIPAL AMOUNT			VALUE
		Diamond Sports Group, LLC / Diamond Sports Finance Company*
	180,000	6.625%, 08/15/27	$	17,800
	151,000	5.375%, 08/15/26		33,113
	402,000	DIRECTV Holdings, LLC / DIRECTV Financing Company, Inc.* 5.875%, 08/15/27		375,975
	205,000	Embarq Corp. 7.995%, 06/01/36		169,186
	225,000	Frontier California, Inc. 6.750%, 05/15/27		217,168
		Frontier Communications Holdings, LLC*
	140,000	5.000%, 05/01/28		131,596
	54,000	8.750%, 05/15/30^		57,418
	242,000	Frontier Florida, LLC@ 6.860%, 02/01/28		229,547
	330,000	Frontier North, Inc.@ 6.730%, 02/15/28		314,942
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
	195,000	3.500%, 03/01/29		174,051
	69,000	5.250%, 12/01/27		67,557
	80,000	Hughes Satellite Systems Corp. 5.250%, 08/01/26		81,219
		Intelsat Jackson Holdings, SA@&
	170,000	9.750%, 07/15/25		—
	130,000	5.500%, 08/01/23		—
	265,000	LCPR Senior Secured Financing DAC* 6.750%, 10/15/27		259,660
	143,215	Ligado Networks, LLC* 15.500%, 11/01/23 15.500% PIK rate		76,268
		Lumen Technologies, Inc.
	341,000	7.600%, 09/15/39		276,432
	310,000	4.000%, 02/15/27*		288,148
	108,000	4.500%, 01/15/29*^		85,711
	109,000	Match Group Holdings II, LLC* 3.625%, 10/01/31		92,561
	190,000	Midas OpCo Holdings, LLC* 5.625%, 08/15/29		160,066
	200,000	Netflix, Inc.* 4.875%, 06/15/30		196,658
	105,000	Paramount Global‡ 6.375%, 03/30/62 5 year CMT + 4.00%		99,527
		Scripps Escrow II, Inc.*
	111,000	3.875%, 01/15/29		99,183
	56,000	5.375%, 01/15/31		47,801
	420,000	Scripps Escrow, Inc.* 5.875%, 07/15/27		401,801
		Sirius XM Radio, Inc.*
	165,000	4.000%, 07/15/28		153,358
	110,000	3.125%, 09/01/26		103,734
	54,000	3.875%, 09/01/31		46,427
	115,000	Spanish Broadcasting System, Inc.*^ 9.750%, 03/01/26		92,928
	215,000	Telecom Italia Capital, SA 6.000%, 09/30/34		170,108
	109,000	Telesat Canada / Telesat, LLC* 4.875%, 06/01/27		64,249


PRINCIPAL AMOUNT			VALUE
	195,000	United States Cellular Corp. 6.700%, 12/15/33	$	194,056
	27,000	Univision Communications, Inc.* 4.500%, 05/01/29		24,446

				7,602,360

		*Consumer Discretionary (2.8%)*
		American Axle & Manufacturing, Inc.
	230,000	6.875%, 07/01/28		221,729
	22,000	5.000%, 10/01/29^		19,259
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
	204,000	6.625%, 01/15/28		178,979
	136,000	4.625%, 08/01/29		105,998
	54,000	4.625%, 04/01/30		41,136
		At Home Group, Inc.*
	160,000	4.875%, 07/15/28^		126,058
	109,000	7.125%, 07/15/29		74,066
	67,000	Avis Budget Car Rental, LLC / Avis Budget Finance, Inc.* 5.375%, 03/01/29		61,164
		Bath & Body Works, Inc.^
	292,000	6.694%, 01/15/27		288,327
	270,000	6.875%, 11/01/35		248,446
		Caesars Entertainment, Inc.*
	136,000	4.625%, 10/15/29^		115,378
	112,000	8.125%, 07/01/27^		112,263
	112,000	6.250%, 07/01/25		112,140
		Carnival Corp.*
	112,000	10.500%, 02/01/26		117,748
	56,000	7.625%, 03/01/26		48,342
	260,000	Carriage Services, Inc.* 4.250%, 05/15/29		226,673
	165,000	Carvana Company* 4.875%, 09/01/29		98,929
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
	470,000	5.125%, 05/01/27		461,610
	245,000	4.750%, 03/01/30		223,151
	215,000	4.250%, 02/01/31		186,682
	125,000	5.000%, 02/01/28		120,760
	125,000	4.500%, 08/15/30		111,409
	108,000	4.750%, 02/01/32		95,449
	80,000	4.250%, 01/15/34		66,282
	108,000	CDI Escrow Issuer, Inc.* 5.750%, 04/01/30		105,826
	207,000	Cedar Fair, LP^ 5.250%, 07/15/29		198,252
	55,000	Century Communities, Inc.* 3.875%, 08/15/29		47,336
		Dana, Inc.
	175,000	4.250%, 09/01/30		147,648
	109,000	4.500%, 02/15/32		91,108
		DISH DBS Corp.
	275,000	5.250%, 12/01/26*		236,071
	209,000	7.750%, 07/01/26		173,035
	133,000	7.375%, 07/01/28		94,869
	200,000	Empire Resorts, Inc.* 7.750%, 11/01/26		180,054
	238,000	Everi Holdings, Inc.* 5.000%, 07/15/29		218,477
		Ford Motor Credit Company, LLC
	350,000	4.063%, 11/01/24		344,729
	350,000	4.000%, 11/13/30		310,894
	315,000	4.134%, 08/04/25		308,983


PRINCIPAL AMOUNT			VALUE
	300,000	5.113%, 05/03/29	$	290,454
		Gap, Inc.*^
	82,000	3.875%, 10/01/31		59,498
	11,000	3.625%, 10/01/29		8,080
		goeasy, Ltd.*
	380,000	5.375%, 12/01/24		361,608
	208,000	4.375%, 05/01/26^		179,294
	167,000	Goodyear Tire & Rubber Company^ 5.000%, 07/15/29		152,372
	93,000	Group 1 Automotive, Inc.* 4.000%, 08/15/28		83,291
	405,000	Guitar Center, Inc.*& 8.500%, 01/15/26		371,612
	345,000	International Game Technology, PLC* 6.250%, 01/15/27		350,034
	245,000	JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.* 5.125%, 02/01/28		244,623
	220,000	Liberty Interactive, LLC 8.250%, 02/01/30		145,218
		Life Time, Inc.*
	169,000	8.000%, 04/15/26^		159,494
	110,000	5.750%, 01/15/26		103,477
	139,000	Lindblad Expeditions, LLC* 6.750%, 02/15/27		127,877
	140,000	M/I Homes, Inc. 3.950%, 02/15/30		116,960
		Macy’s Retail Holdings, LLC*
	230,000	6.700%, 07/15/34		222,785
	136,000	5.875%, 03/15/30^		117,609
	260,000	Mclaren Finance, PLC*^ 7.500%, 08/01/26		225,844
	287,000	Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.* 4.875%, 05/01/29		262,355
	294,000	Mohegan Gaming & Entertainment* 8.000%, 02/01/26		261,237
		Nordstrom, Inc.
	110,000	5.000%, 01/15/44^		81,269
	105,000	4.250%, 08/01/31		85,215
	250,000	Penn National Gaming, Inc.*^ 4.125%, 07/01/29		208,212
	305,000	Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*^ 5.625%, 09/01/29		246,818
	553,000	Rite Aid Corp.*^ 8.000%, 11/15/26		469,530
	320,000	Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed* 4.625%, 03/01/29		291,350
	241,000	Sonic Automotive, Inc.* 4.625%, 11/15/29		208,463
	131,000	Speedway Motorsports, LLC / Speedway Funding II, Inc.* 4.875%, 11/01/27		119,239
	207,000	Taylor Morrison Communities, Inc.* 5.750%, 01/15/28		200,800
	55,000	Viking Cruises, Ltd.* 13.000%, 05/15/25		58,262


PRINCIPAL AMOUNT			VALUE
	260,000	Vista Outdoor, Inc.* 4.500%, 03/15/29	$	200,525
	295,000	VOC Escrow, Ltd.* 5.000%, 02/15/28		262,810
	55,000	Williams Scotsman International, Inc.* 4.625%, 08/15/28		51,634

				12,247,109

		*Consumer Staples (1.5%)*
	251,000	Central Garden & Pet Company* 4.125%, 04/30/31		216,686
	300,000	Edgewell Personal Care Company* 4.125%, 04/01/29		269,592
	307,000	Energizer Holdings, Inc.* 4.375%, 03/31/29^		253,634
	54,000	6.500%, 12/31/27		50,444
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.*
	320,000	5.500%, 01/15/30		312,186
	109,000	6.500%, 04/15/29		111,351
	112,000	Kraft Heinz Foods Company 4.375%, 06/01/46		98,877
	174,000	New Albertsons, LP 7.750%, 06/15/26		178,357
	217,000	Performance Food Group, Inc.* 4.250%, 08/01/29		193,130
	250,000	Petsmart, Inc. / PetSmart Finance Corp.* 4.750%, 02/15/28		237,137
	280,000	Pilgrim’s Pride Corp.* 5.875%, 09/30/27		280,263
		Post Holdings, Inc.*
	110,000	5.750%, 03/01/27		110,180
	54,000	5.500%, 12/15/29		51,065
	28,000	4.625%, 04/15/30		25,115
	209,000	Prestige Brands, Inc.* 3.750%, 04/01/31		179,874
	3,550,000	Unilever Capital Corp.^ 3.250%, 03/07/24		3,567,572
	245,000	United Natural Foods, Inc.*^ 6.750%, 10/15/28		246,803
	342,000	Vector Group, Ltd.* 5.750%, 02/01/29		310,762

				6,693,028

		*Energy (1.7%)*
		Antero Resources Corp.*
	106,000	5.375%, 03/01/30		104,275
	68,000	7.625%, 02/01/29		71,817
	223,000	Apache Corp. 5.100%, 09/01/40		199,206
		Buckeye Partners, LP
	140,000	3.950%, 12/01/26		130,488
	135,000	5.850%, 11/15/43		101,155
	250,000	Callon Petroleum Company*^ 7.500%, 06/15/30		240,465
		Cheniere Energy Partners Company
	109,000	3.250%, 01/31/32		95,183
	55,000	4.000%, 03/01/31		50,998
	112,000	Cheniere Energy, Inc. 4.625%, 10/15/28		109,337


PRINCIPAL AMOUNT			VALUE
	167,000	Chesapeake Energy Corp.* 6.750%, 04/15/29	$	173,099
	290,000	DCP Midstream Operating, LP*‡ 5.850%, 05/21/43 3 mo. USD LIBOR + 3.85%		252,419
	3,142	Diamond Foreign Asset Company / Diamond Finance, LLC 9.000%, 04/22/27 13.000% PIK rate		3,057
	114,000	DT Midstream, Inc.* 4.125%, 06/15/29		105,279
	217,000	Earthstone Energy Holdings, LLC* 8.000%, 04/15/27		207,654
		Energy Transfer, LP‡
	320,000	5.800%, 11/01/66 3 mo. USD LIBOR + 3.02%		226,077
	162,000	6.500%, 11/15/26 5 year CMT + 5.69%		147,117
		EnLink Midstream Partners, LP
	330,000	6.000%, 12/15/22‡ 3 mo. USD LIBOR + 4.11%		229,360
	224,000	4.850%, 07/15/26		222,192
	163,000	EQM Midstream Partners, LP* 7.500%, 06/01/27		166,788
	293,000	Genesis Energy, LP / Genesis Energy Finance Corp. 6.250%, 05/15/26		272,906
	150,000	Gulfport Energy Operating Corp.* 8.000%, 05/17/26		150,778
		Gulfport Energy Operating Corp.&
	215,000	6.375%, 05/15/25		—
	65,708	8.000%, 05/17/26		66,049
	250,000	Hilcorp Energy I, LP / Hilcorp Finance Company* 6.000%, 04/15/30		230,292
	163,000	Howard Midstream Energy Partners, LLC* 6.750%, 01/15/27		140,557
		Laredo Petroleum, Inc.
	229,000	10.125%, 01/15/28^		233,234
	108,000	9.500%, 01/15/25		110,885
	57,000	7.750%, 07/31/29*^		54,490
	245,000	Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.* 6.000%, 08/01/26		233,517
		Moss Creek Resources Holdings, Inc.*
	135,000	10.500%, 05/15/27		129,981
	135,000	7.500%, 01/15/26^		123,229
	113,000	Murphy Oil Corp. 6.375%, 07/15/28		112,986
		New Fortress Energy, Inc.*
	221,000	6.750%, 09/15/25		216,008
	113,000	6.500%, 09/30/26		107,095
		Occidental Petroleum Corp.
	133,000	6.625%, 09/01/30		147,673
	114,000	5.875%, 09/01/25		117,527
	80,000	6.125%, 01/01/31		85,762
	40,000	6.375%, 09/01/28		43,154
	200,000	Par Petroleum, LLC / Par Petroleum Finance Corp.* 7.750%, 12/15/25		190,350
	230,000	Parkland Corp.* 5.875%, 07/15/27		225,614
	213,000	Patterson-UTI Energy, Inc. 5.150%, 11/15/29		190,614


PRINCIPAL AMOUNT			VALUE
	270,000	Plains All American Pipeline, LP‡ 6.125%, 11/15/22 3 mo. USD LIBOR + 4.11%	$	205,613
	305,000	Rockcliff Energy II, LLC* 5.500%, 10/15/29		294,538
		Southwestern Energy Company
	105,000	5.375%, 02/01/29		102,736
	105,000	5.375%, 03/15/30		103,506
	54,000	4.750%, 02/01/32		50,453
	54,000	Sunoco, LP / Sunoco Finance Corp. 4.500%, 04/30/30		47,445
		Venture Global Calcasieu Pass, LLC*
	55,000	4.125%, 08/15/31		50,904
	55,000	3.875%, 08/15/29		50,973
	135,000	W&T Offshore, Inc.* 9.750%, 11/01/23		130,449
		Weatherford International, Ltd.*
	234,000	6.500%, 09/15/28		223,257
	155,000	8.625%, 04/30/30		140,718

				7,419,259

		*Financials (3.2%)*
		Acrisure, LLC / Acrisure Finance, Inc.*
	333,000	6.000%, 08/01/29		277,865
	292,000	7.000%, 11/15/25		280,694
	323,000	Aethon United BR, LP / Aethon United Finance Corp.* 8.250%, 02/15/26		333,540
	363,000	AG Issuer, LLC* 6.250%, 03/01/28		328,860
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
	400,000	6.750%, 10/15/27		380,116
	55,000	5.875%, 11/01/29		47,938
	55,000	4.250%, 10/15/27		51,559
		Ally Financial, Inc.
	245,000	4.700%, 05/15/26‡ 5 year CMT + 3.87		206,577
	175,000	8.000%, 11/01/31		198,261
	100,000	4.700%, 05/15/28‡ 7 year CMT + 3.48%		79,342
	250,000	American Finance Trust, Inc. / American Finance Operating Partner, LP* 4.500%, 09/30/28		201,788
	439,000	AmWINS Group, Inc.* 4.875%, 06/30/29		399,995
	470,000	AssuredPartners, Inc.* 7.000%, 08/15/25		465,888
	248,000	Aviation Capital Group, LLC* 3.500%, 11/01/27		217,947
	48,000	Bank of New York Mellon Corp.‡ 3.750%, 12/20/26 5 year CMT + 2.63%		41,755
	434,000	BroadStreet Partners, Inc.* 5.875%, 04/15/29		375,579
		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
	430,000	4.500%, 04/01/27		378,348
	264,000	5.750%, 05/15/26		257,595


PRINCIPAL AMOUNT			VALUE
	200,000	Burford Capital Global Financial, LLC* 6.875%, 04/15/30	$	178,496
	52,000	Capital One Financial Corp.^‡ 3.950%, 09/01/26 5 year CMT + 3.16%		45,148
	239,000	Castlelake Aviation Finance DAC*^ 5.000%, 04/15/27		200,758
		Credit Acceptance Corp.
	237,000	5.125%, 12/31/24*		229,106
	230,000	6.625%, 03/15/26^		232,215
	283,000	Enact Holdings, Inc.* 6.500%, 08/15/25		285,176
	321,000	Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP* 3.750%, 12/15/27		281,584
	317,000	Greystar Real Estate Partners, LLC* 5.750%, 12/01/25		317,013
		HUB International, Ltd.*
	485,000	7.000%, 05/01/26		479,738
	324,000	5.625%, 12/01/29		292,164
		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
	235,000	5.250%, 05/15/27		226,453
	164,000	4.375%, 02/01/29		147,787
	500,000	ILFC E-Capital Trust II*‡ 5.100%, 12/21/65 3 mo. USD LIBOR + 1.80%		383,890
	465,000	Iron Mountain, Inc.* 5.250%, 03/15/28		446,944
	600,000	Jefferies Finance, LLC / JFIN Co- Issuer Corp.* 5.000%, 08/15/28		505,020
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
	447,000	5.250%, 10/01/25		422,858
	109,000	4.750%, 06/15/29		93,357
	311,000	LD Holdings Group, LLC*^ 6.125%, 04/01/28		189,318
		Level 3 Financing, Inc.
	235,000	4.250%, 07/01/28*		206,097
	145,000	5.375%, 05/01/25		145,174
	108,000	3.875%, 11/15/29*		96,250
	162,000	LPL Holdings, Inc.* 4.000%, 03/15/29		150,804
	487,000	MetLife, Inc. 6.400%, 12/15/66		510,069
		Navient Corp.
	493,000	5.000%, 03/15/27^		445,854
	195,000	4.875%, 03/15/28		167,499
		OneMain Finance Corp.
	150,000	3.875%, 09/15/28		124,428
	88,000	7.125%, 03/15/26		85,859
	110,000	Park Intermediate Holdings, LLC /
		PK Domestic Property, LLC / PK Finance Co-Issuer* 5.875%, 10/01/28		107,999
	341,000	PHH Mortgage Corp.* 7.875%, 03/15/26		322,098
	55,000	PNC Financial Services Group, Inc.^‡ 6.000%, 05/15/27 5 year CMT + 3.00%		55,334


PRINCIPAL AMOUNT			VALUE
	260,000	RHP Hotel Properties, LP / RHP Finance Corp.*^ 4.500%, 02/15/29	$	238,896
	162,000	RLJ Lodging Trust, LP* 3.750%, 07/01/26		152,233
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
	100,000	3.875%, 03/01/31		82,647
	100,000	3.625%, 03/01/29		85,560
	50,000	2.875%, 10/15/26		44,183
	227,000	StoneX Group, Inc.* 8.625%, 06/15/25		232,123
	53,000	SVB Financial Group‡ 4.000%, 05/15/26 5 year CMT + 3.20%		43,421
		United Wholesale Mortgage, LLC*
	258,000	5.500%, 04/15/29^		221,496
	105,000	5.750%, 06/15/27		91,912
	110,000	Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC* 6.500%, 02/15/29		83,186
	110,000	US Bancorp^‡ 3.700%, 01/15/27 5 year CMT + 2.54%		92,348
	250,000	VZ Secured Financing, BV* 5.000%, 01/15/32		223,508
		XHR, LP*
	237,000	6.375%, 08/15/25		238,860
	108,000	4.875%, 06/01/29		97,339

				13,825,849

		*Health Care (3.0%)*
		Bausch Health Americas, Inc.*
	500,000	8.500%, 01/31/27		316,440
	110,000	9.250%, 04/01/26^		77,079
		Bausch Health Companies, Inc.*
	420,000	7.250%, 05/30/29		230,425
	245,000	5.000%, 01/30/28		130,965
	81,000	6.125%, 02/01/27		69,189
	113,000	Charles River Laboratories International, Inc.* 3.750%, 03/15/29		105,323
	27,000	CHS/Community Health Systems, Inc.* 5.250%, 05/15/30		22,706
		CHS/Community Health Systems, Inc.*
	435,000	6.125%, 04/01/30^		234,235
	230,000	8.000%, 03/15/26		219,795
	127,000	6.875%, 04/15/29		70,783
		DaVita, Inc.*
	433,000	4.625%, 06/01/30		356,805
	258,000	3.750%, 02/15/31		197,664
		Embecta Corp.*
	162,000	5.000%, 02/15/30		140,324
	52,000	6.750%, 02/15/30		48,066
		Encompass Health Corp.
	110,000	4.750%, 02/01/30		101,738
	110,000	4.500%, 02/01/28		101,905
	300,000	HCA, Inc. 7.500%, 11/06/33		343,077
	200,000	Jazz Securities DAC* 4.375%, 01/15/29		192,800
	119,000	Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC* 10.000%, 06/15/29		72,783


PRINCIPAL AMOUNT			VALUE
		Medline Borrower, LP*
	270,000	3.875%, 04/01/29	$	244,023
	267,000	5.250%, 10/01/29^		241,453
	400,000	Organon & Company / Organon Foreign Debt Co-Issuer, BV* 5.125%, 04/30/31		375,256
	7,325,000	Roche Holdings, Inc.*^ 2.132%, 03/10/25		7,170,003
	305,000	Team Health Holdings, Inc.*^ 6.375%, 02/01/25		208,031
		Tenet Healthcare Corp.
	430,000	6.250%, 02/01/27*		434,885
	345,000	4.875%, 01/01/26*		340,260
	295,000	6.875%, 11/15/31		288,846
		Teva Pharmaceutical Finance Netherlands III, BV
	495,000	6.000%, 04/15/24^		502,692
	200,000	4.750%, 05/09/27		189,886
	100,000	3.150%, 10/01/26		89,774

				13,117,211

		*Industrials (2.7%)*
	265,000	Abercrombie & Fitch Management Company* 8.750%, 07/15/25		260,858
	260,000	ACCO Brands Corp.* 4.250%, 03/15/29		227,913
	235,000	AerCap Holdings, NV^‡ 5.875%, 10/10/79 5 year CMT + 4.54		209,695
	200,000	Air Lease Corp.‡ 4.125%, 12/15/26 5 year CMT + 3.15%		149,870
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
	365,000	4.625%, 01/15/27		346,783
	255,000	5.875%, 02/15/28		248,574
	111,000	3.500%, 03/15/29		96,564
		Allison Transmission, Inc.*
	190,000	4.750%, 10/01/27		180,882
	55,000	3.750%, 01/30/31		47,541
	55,000	American Airlines Group, Inc.*^ 3.750%, 03/01/25		48,288
	127,000	Arcosa, Inc.* 4.375%, 04/15/29		113,835
	475,000	ARD Finance, SA* 6.500%, 06/30/27 7.250% PIK rate		360,449
	137,000	Avolon Holdings Funding, Ltd.* 5.250%, 05/15/24		135,475
	178,000	Beacon Roofing Supply, Inc.* 4.125%, 05/15/29		157,879
	226,000	BWX Technologies, Inc.*^ 4.125%, 04/15/29		212,517
	57,000	Delta Air Lines, Inc. 7.375%, 01/15/26		59,955
		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*
	56,000	4.750%, 10/20/28		54,941
	28,000	4.500%, 10/20/25		27,748
	282,000	Deluxe Corp.* 8.000%, 06/01/29		246,629
	108,000	Dun & Bradstreet Corp.* 5.000%, 12/15/29		100,505


PRINCIPAL AMOUNT			VALUE
	163,000	Eco Material Technologies, Inc.* 7.875%, 01/31/27	$	146,255
	275,000	Endurance International Group Holdings, Inc.* 6.000%, 02/15/29		203,698
	140,000	EnerSys*^ 4.375%, 12/15/27		128,951
	260,000	Fly Leasing, Ltd.* 7.000%, 10/15/24		142,919
	112,000	GFL Environmental, Inc.* 3.750%, 08/01/25		108,796
	124,000	Graham Packaging Company, Inc.*^ 7.125%, 08/15/28		105,431
	140,000	Granite US Holdings Corp.*^ 11.000%, 10/01/27		130,374
		Graphic Packaging International, LLC*
	175,000	4.750%, 07/15/27		171,925
	102,000	3.500%, 03/01/29		92,574
	236,000	Great Lakes Dredge & Dock Corp.* 5.250%, 06/01/29		212,884
	516,000	H&E Equipment Services, Inc.* 3.875%, 12/15/28		451,990
	324,000	Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.* 5.750%, 01/20/26		315,790
	270,000	Herc Holdings, Inc.* 5.500%, 07/15/27		270,432
	200,000	Howmet Aerospace, Inc. 5.125%, 10/01/24		202,590
	255,000	IEA Energy Services, LLC* 6.625%, 08/15/29		252,185
	280,000	JELD-WEN, Inc.* 4.625%, 12/15/25		258,846
	360,000	Ken Garff Automotive, LLC* 4.875%, 09/15/28		305,896
	110,000	MasTec, Inc.* 4.500%, 08/15/28		101,728
	165,000	Meritor, Inc.* 4.500%, 12/15/28		164,541
	170,000	Moog, Inc.* 4.250%, 12/15/27		158,948
	300,000	Nationstar Mortgage Holdings, Inc.* 5.500%, 08/15/28		263,715
	272,000	Novelis Corp.* 4.750%, 01/30/30		251,861
	80,000	OI European Group, BV* 4.750%, 02/15/30		67,280
	255,000	Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC* 4.000%, 10/15/27		225,581
	327,000	Patrick Industries, Inc.* 4.750%, 05/01/29		254,923
	235,000	Picasso Finance Sub, Inc.* 6.125%, 06/15/25		238,274
		QVC, Inc.
	163,000	4.375%, 09/01/28		127,275
	110,000	5.450%, 08/15/34		78,517
	210,000	Sensata Technologies, Inc.* 3.750%, 02/15/31		182,666
	167,000	Sinclair Television Group, Inc.* 4.125%, 12/01/30		143,378


PRINCIPAL AMOUNT			VALUE
	100,000	5.500%, 03/01/30^	$	80,534
	225,000	Standard Industries, Inc.* 5.000%, 02/15/27		217,494
	455,000	Station Casinos, LLC* 4.500%, 02/15/28		413,067
	176,000	Stericycle, Inc.* 3.875%, 01/15/29		161,005
	166,000	STL Holding Company, LLC* 7.500%, 02/15/26		147,743
	200,000	TransDigm UK Holdings, PLC 6.875%, 05/15/26		198,036
	209,000	TransDigm, Inc. 6.250%, 03/15/26*		210,164
	205,000	7.500%, 03/15/27		208,649
	114,000	Tronox, Inc.* 4.625%, 03/15/29		99,464
		United Rentals North America, Inc.
	110,000	3.750%, 01/15/32		97,247
	56,000	3.875%, 02/15/31^		51,172
	217,000	Vertiv Group Corp.*^ 4.125%, 11/15/28		192,737
	228,000	Wabash National Corp.* 4.500%, 10/15/28		189,033
	250,000	Waste Pro USA, Inc.* 5.500%, 02/15/26		231,610
		WESCO Distribution, Inc.*
	136,000	7.125%, 06/15/25		140,789
	67,000	7.250%, 06/15/28		69,951

				11,755,819

		*Information Technology (0.8%)*
	109,000	Booz Allen Hamilton, Inc.* 4.000%, 07/01/29		104,128
	200,000	CommScope Technologies, LLC* 6.000%, 06/15/25		185,272
	200,000	CommScope, Inc.* 4.750%, 09/01/29		173,958
	210,000	Dell International, LLC / EMC Corp. 6.020%, 06/15/26		223,209
	138,000	Fair Isaac Corp.* 4.000%, 06/15/28		129,506
	126,000	II-VI, Inc.* 5.000%, 12/15/29		121,208
	245,000	KBR, Inc.* 4.750%, 09/30/28		221,406
		MPH Acquisition Holdings, LLC*
	245,000	5.750%, 11/01/28^		208,938
	110,000	5.500%, 09/01/28		102,546
	113,000	NCR Corp.* 5.125%, 04/15/29		108,721
	133,000	Nielsen Finance, LLC / Nielsen Finance Company* 4.500%, 07/15/29		126,238
	167,000	ON Semiconductor Corp.* 3.875%, 09/01/28		154,782
		Open Text Corp.*
	204,000	3.875%, 02/15/28		189,288
	81,000	3.875%, 12/01/29		73,076
	81,000	Open Text Holdings, Inc.* 4.125%, 12/01/31		72,688
	113,000	Playtika Holding Corp.*^ 4.250%, 03/15/29		101,291
	315,000	TTM Technologies, Inc.*^ 4.000%, 03/01/29		277,238


PRINCIPAL AMOUNT			VALUE
		Twilio, Inc.^
	150,000	3.625%, 03/15/29	$	131,978
	57,000	3.875%, 03/15/31		50,574
	275,000	Viavi Solutions, Inc.* 3.750%, 10/01/29		246,617
	260,000	ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.* 3.875%, 02/01/29		232,864

				3,235,526

		*Materials (0.8%)*
	130,000	ArcelorMittal, SA 7.000%, 10/15/39		134,336
	140,000	ATI, Inc.^ 5.875%, 12/01/27		130,966
	55,000	Carpenter Technology Corp. 7.625%, 03/15/30		50,088
	165,000	Chemours Company* 4.625%, 11/15/29		144,953
	355,000	Clearwater Paper Corp.* 4.750%, 08/15/28		319,291
	108,000	Commercial Metals Company 4.125%, 01/15/30		95,016
	54,000	4.375%, 03/15/32^		47,302
	250,000	Constellium, SE*^ 3.750%, 04/15/29		213,387
	125,000	Freeport-McMoRan, Inc. - Class H 5.450%, 03/15/43		117,439
	167,000	HB Fuller Company 4.250%, 10/15/28		149,787
	215,000	JW Aluminum Continuous Cast Company* 10.250%, 06/01/26		223,151
		Kaiser Aluminum Corp.*
	245,000	4.625%, 03/01/28		215,455
	28,000	4.500%, 06/01/31		22,550
	153,000	LSF11 A5 HoldCo, LLC* 6.625%, 10/15/29		131,500
	239,000	Mercer International, Inc. 5.125%, 02/01/29		224,153
	215,000	OCI, NV* 4.625%, 10/15/25		209,735
	335,000	Owens-Brockway Glass Container, Inc.*^ 6.625%, 05/13/27		323,027
	54,000	Sealed Air Corp.* 5.000%, 04/15/29		53,723
	200,000	Silgan Holdings, Inc. 4.125%, 02/01/28		191,444
	113,000	Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*^ 5.125%, 04/01/29		78,952
	201,000	Univar Solutions USA, Inc.* 5.125%, 12/01/27		194,699
	111,000	Valvoline, Inc.* 3.625%, 06/15/31		92,134

				3,363,088

		*Real Estate (0.2%)*
	174,000	EPR Properties 3.750%, 08/15/29		150,456
	187,000	Forestar Group, Inc.* 5.000%, 03/01/28		164,625
	110,000	3.850%, 05/15/26		97,479


PRINCIPAL AMOUNT				VALUE
	248,000		MIWD Holdco II, LLC / MIWD Finance Corp.* 5.500%, 02/01/30	$	211,643
			Service Properties Trust
	285,000		4.350%, 10/01/24		255,788
	105,000		5.250%, 02/15/26		87,795

					967,786

			*Special Purpose Acquisition Companies (0.1%)*
			Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
	220,000		6.750%, 01/15/30^		180,107
	107,000		4.625%, 01/15/29		99,847

					279,954

			*Utilities (0.1%)*
	79,000		PPL Capital Funding, Inc.‡ 4.915%, 03/30/67 3 mo. USD LIBOR + 2.67%		63,417
	260,000		TerraForm Power Operating, LLC* 5.000%, 01/31/28		250,136
			Vistra Corp.*‡
	110,000		8.000%, 10/15/26 5 year CMT + 6.93%		106,704
	105,000		7.000%, 12/15/26
			5 year CMT + 5.74%		96,055

					516,312

			TOTAL CORPORATE BONDS (Cost $90,792,291)		83,035,734

	CONVERTIBLE BONDS (24.1%)
			*Airlines (0.7%)*
	3,100,000	EUR	Deutsche Lufthansa, AG 2.000%, 11/17/25		3,046,911

			*Communication Services (1.5%)*
	200,000	EUR	America Movil, BV 0.000%, 03/02/24		221,145
	325,000		Bharti Airtel, Ltd.* 1.500%, 02/17/25		394,813
	223,000		Bilibili, Inc.* 0.500%, 12/01/26		157,088
	100,000	EUR	Cellnex Telecom, SA 1.500%, 01/16/26		151,254
	20,000,000	JPY	CyberAgent, Inc. 0.000%, 02/19/25		165,977
			iQIYI, Inc.
	185,000		2.000%, 04/01/25		150,842
	179,000		4.000%, 12/15/26		118,698
	400,000		Kakao Corp. 0.000%, 04/28/23		396,488
	145,000		Liberty Media Corp. 1.375%, 10/15/23		185,047
	153,000		Liberty Media Corp. / Liberty Formula One 1.000%, 01/30/23		282,504
			Sea, Ltd.
	604,000		0.250%, 09/15/26		448,283
	238,000		2.375%, 12/01/25^		281,087
			Snap, Inc.
	538,000		0.125%, 03/01/28*		366,260
	137,000		0.750%, 08/01/26^		120,600


PRINCIPAL AMOUNT				VALUE
	2,540,000		Twitter, Inc. 0.250%, 06/15/24	$	2,586,863
	200,000		Xiaomi Best Time International, Ltd. 0.000%, 12/17/27		165,264
	157,000		Zillow Group, Inc. 1.375%, 09/01/26		167,412

					6,359,625

			*Consumer Discretionary (6.6%)*
	203,000		Airbnb, Inc. 0.000%, 03/15/26		177,150
	145,000		Booking Holdings, Inc.^ 0.750%, 05/01/25		195,325
	400,000		Bosideng International Holdings, Ltd. 1.000%, 12/17/24		450,588
	100,000	EUR	Delivery Hero, SE 0.250%, 01/23/24		94,327
	330,000		DISH Network Corp.^ 2.375%, 03/15/24		294,941
	410,000		Draftkings, Inc. 0.000%, 03/15/28		247,919
			Etsy, Inc.
	229,000		0.125%, 10/01/26		320,676
	161,000		0.125%, 09/01/27^		146,349
	251,000		Farfetch, Ltd. 3.750%, 05/01/27		227,014
			Flight Centre Travel Group, Ltd.
	3,400,000	AUD	2.500%, 11/17/27		2,512,414
	200,000	AUD	1.625%, 11/01/28		121,975
	11,210,000		Ford Motor Company~ 0.000%, 03/15/26		11,972,392
	200,000EUR		Global Fashion Group, SA 1.250%, 03/15/28		144,643
	100,000EUR		HelloFresh, SE 0.750%, 05/13/25		94,908
	2,772,000		Liberty Broadband Corp.* 2.750%, 09/30/50		2,652,859
	214,000		Lucid Group, Inc.* 1.250%, 12/15/26		135,295
	296,000		MakeMyTrip, Ltd. 0.000%, 02/15/28		326,817
	920,000		Marriott Vacations Worldwide Corp. 0.000%, 01/15/26		920,552
	400,000		Meituan 0.000%, 04/27/28		327,144
	40,000,000	JPY	Mercari, Inc. 0.000%, 07/14/28		245,351
	447,000		NCL Corp., Ltd. - Class C* 1.125%, 02/15/27		306,615
			Ocado Group, PLC
	100,000	GBP	0.875%, 12/09/25		97,519
	100,000	GBP	0.750%, 01/18/27		85,002
	75,000		Peloton Interactive, Inc. 0.000%, 02/15/26		49,595
	339,000		Pinduoduo, Inc. 0.000%, 12/01/25		303,005
	473,000		Royal Caribbean Cruises, Ltd. 4.250%, 06/15/23		463,866
	100,000	EUR	Shop Apotheke Europe, NV 0.000%, 01/21/28		78,089
	162,000		Stride, Inc. 1.125%, 09/01/27		171,177


PRINCIPAL AMOUNT				VALUE
	17,000		Tesla, Inc. 2.000%, 05/15/24	$	244,263
	314,000		Vroom, Inc. 0.750%, 07/01/26		79,806
			Wayfair, Inc.
	318,000		0.625%, 10/01/25		216,758
	168,000		1.000%, 08/15/26^		116,379
	3,600,000	AUD	Webjet, Ltd. 0.750%, 04/12/26		2,542,310
	1,900,000	GBP	WH Smith, PLC 1.625%, 05/07/26		2,026,652
	200,000	EUR	Zalando, SE 0.050%, 08/06/25		175,212

					28,564,887

			*Consumer Staples (1.0%)*
	20,000,000	JPY	Nippn Corp. 0.000%, 06/20/25		151,490
	4,975,000	CAD	Premium Brands Holdings Corp. 4.200%, 09/30/27		3,859,408
	179,000		Turning Point Brands, Inc. 2.500%, 07/15/24		161,467

					4,172,365

			*Energy (0.1%)*
	228,000		Pioneer Natural Resources Company 0.250%, 05/15/25		522,077
			SunEdison, Inc.
	2,261,000		0.250%, 01/15/49		48,340
	275,000		2.000%, 10/01/49		5,879

					576,296

			*Financials (2.5%)*
	41,000,000	HKD	Citigroup Global Markets Funding Luxembourg SCA 0.000%, 07/25/24		5,038,468
	192,000		Coinbase Global, Inc. 0.500%, 06/01/26		116,707
	600,000	EUR	Corestate Capital Holding, SA 1.375%, 11/28/22		151,836
	100,000	GBP	Cornwall Jersey, Ltd. 0.750%, 04/16/26		80,729
	150,000		GSK Finance No 3, PLC* 0.000%, 06/22/23		144,413
	200,000	EUR	JPMorgan Chase Financial Company, LLC 0.000%, 01/14/25		223,007
	200,000	EUR	LEG Immobilien, SE 0.875%, 09/01/25		201,329
	200,000	EUR	Oliver Capital Sarl 0.000%, 12/29/23		213,944
	610,000,000	JPY	SBI Holdings, Inc. 0.000%, 09/13/23		4,661,663
	210,000		Starwood Property Trust, Inc. 4.375%, 04/01/23		212,188

					11,044,284

			*Health Care (0.7%)*
	135,000		Coherus Biosciences, Inc. 1.500%, 04/15/26		93,672
	172,000		CONMED Corp.* 2.250%, 06/15/27		165,541
	142,000		Dexcom, Inc.^ 0.250%, 11/15/25		135,371


PRINCIPAL AMOUNT				VALUE
	100,000	EUR	GN Store Nord AS 0.000%, 05/21/24	$	96,362
	205,000		Haemonetics Corp. 0.000%, 03/01/26		167,719
	206,000		Halozyme Therapeutics, Inc.^ 0.250%, 03/01/27		192,913
	73,000		Innoviva, Inc. 2.500%, 08/15/25		78,656
	167,000		Integra LifeSciences Holdings Corp. 0.500%, 08/15/25		161,504
	156,000		Jazz Investments I, Ltd. 2.000%, 06/15/26		186,280
	30,000,000	JPY	Menicon Company, Ltd. 0.000%, 01/29/25		247,105
	181,000		NeoGenomics, Inc. 0.250%, 01/15/28		116,984
	143,000		Novocure, Ltd. 0.000%, 11/01/25		125,410
	165,000		NuVasive, Inc. 0.375%, 03/15/25		150,884
	376,000		Oak Street Health, Inc. 0.000%, 03/15/26		303,440
	145,000		Omnicell, Inc. 0.250%, 09/15/25		180,363
	135,000		Pacira BioSciences, Inc. 0.750%, 08/01/25		139,344
	171,000		Tabula Rasa HealthCare, Inc. 1.750%, 02/15/26		120,900
	155,000		Tandem Diabetes Care, Inc.* 1.500%, 05/01/25		152,633

					2,815,081

			*Industrials (2.7%)*
	400,000		ADM Ag Holding, Ltd. 0.000%, 08/26/23		390,432
	250,000		Air Canada^ 4.000%, 07/01/25		284,972
	3,990,000		Air Transport Services Group, Inc. 1.125%, 10/15/24		4,530,685
	100,000	EUR	Duerr, AG 0.750%, 01/15/26		99,120
	196,000		John Bean Technologies Corp.^ 0.250%, 05/15/26		183,350
	161,000		Middleby Corp. 1.000%, 09/01/25		200,806
	7,000,000	SGD	Singapore Airlines, Ltd. 1.625%, 12/03/25		5,388,794
	176,000		Southwest Airlines Company~ 1.250%, 05/01/25		222,529
	393,000		Sunrun, Inc. 0.000%, 02/01/26		293,037

					11,593,725

			*Information Technology (5.3%)*
	223,000		Affirm Holdings, Inc.* 0.000%, 11/15/26		136,826
	190,000		Akamai Technologies, Inc. 0.125%, 05/01/25		218,272
	200,000	EUR	BE Semiconductor Industries, NV 1.875%, 04/06/29		182,969
			Bill.com Holdings, Inc.
	208,000		0.000%, 04/01/27*^		170,138
	94,000		0.000%, 12/01/25		105,706
	3,175,000		Block, Inc. 0.125%, 03/01/25		3,250,406


PRINCIPAL AMOUNT				VALUE
	210,000		Cloudflare, Inc.*^ 0.000%, 08/15/26	$	171,538
	213,000		Confluent, Inc.* 0.000%, 01/15/27		159,588
	356,000		Coupa Software, Inc. 0.125%, 06/15/25		312,269
	4,062,000		CyberArk Software, Ltd.^ 0.000%, 11/15/24		4,389,032
	146,000		Datadog, Inc. 0.125%, 06/15/25		192,815
	447,000		DigitalOcean Holdings, Inc.* 0.000%, 12/01/26		335,375
	207,000		Dropbox, Inc.^ 0.000%, 03/01/28		189,364
	504,000	CAD	Dye & Durham, Ltd.* 3.750%, 03/01/26		314,865
	3,940,000		Enphase Energy, Inc. 0.000%, 03/01/26		4,733,398
	411,000		Fastly, Inc. 0.000%, 03/15/26		304,054
	357,000		Five9, Inc. 0.500%, 06/01/25		379,362
	5,000,000	HKD	Kingsoft Corp, Ltd. 0.625%, 04/29/25		676,448
	175,000		LivePerson, Inc. 0.000%, 12/15/26		127,612
	324,000		Lumentum Holdings, Inc.^ 0.500%, 12/15/26		358,454
	451,000		Microchip Technology, Inc.^ 0.125%, 11/15/24		475,530
	418,000		MicroStrategy, Inc. 0.000%, 02/15/27		208,812
	186,000		New Relic, Inc. 0.500%, 05/01/23		182,375
	200,000	EUR	Nexi S.p.A 1.750%, 04/24/27		178,730
	162,000		Nice, Ltd.^ 0.000%, 09/15/25		164,756
	413,000		Okta, Inc. 0.125%, 09/01/25		387,138
	229,000		ON Semiconductor Corp.^ 0.000%, 05/01/27		319,885
			Palo Alto Networks, Inc.
	190,000		0.750%, 07/01/23		359,831
	148,000		0.375%, 06/01/25		256,503
	173,000		Pegasystems, Inc. 0.750%, 03/01/25		138,042
	296,000		Repay Holdings Corp.* 0.000%, 02/01/26		230,306
	320,000		RingCentral, Inc. 0.000%, 03/15/26		242,662
	40,000,000	JPY	SCREEN Holdings Company, Ltd. 0.000%, 06/11/25		322,088
			Shift4 Payments, Inc.
	170,000		0.500%, 08/01/27*		123,626
	139,000		0.000%, 12/15/25^		118,734
	145,000		Silicon Laboratories, Inc.^ 0.625%, 06/15/25		194,235
	148,300	EUR	SOITEC 0.000%, 10/01/25		290,017
	190,000		Splunk, Inc. 1.125%, 09/15/25		191,147
	200,000		Tyler Technologies, Inc. 0.250%, 03/15/26		210,282
	223,000		Unity Software, Inc.* 0.000%, 11/15/26		166,398


PRINCIPAL AMOUNT				VALUE
	200,000		Win Semiconductors Corp. 0.000%, 01/14/26	$	166,714
	318,000		Wix.com, Ltd. 0.000%, 08/15/25		261,072
	228,000		Workday, Inc. 0.250%, 10/01/22		248,235
	170,000		Workiva, Inc. 1.125%, 08/15/26		185,159
	265,000		Xero Investments, Ltd. 0.000%, 12/02/25		215,402
	308,000		Zendesk, Inc. 0.625%, 06/15/25		300,263
	145,000		Zscaler, Inc. 0.125%, 07/01/25		180,193

					23,026,626

			*Materials (2.8%)*
	214,000		Amyris, Inc.* 1.500%, 11/15/26		88,159
	7,000,000		Glencore Funding, LLC 0.000%, 03/27/25		7,400,260
	950,000		Ivanhoe Mines, Ltd.* 2.500%, 04/15/26		1,020,367
	3,932,000		Lithium Americas Corp.* 1.750%, 01/15/27		3,432,439
	400,000	EUR	POSCO Holdings, Inc. 0.000%, 09/01/26		386,192

					12,327,417

			*Real Estate (0.2%)*
	400,000	EUR	ANLLIAN Capital, Ltd. 0.000%, 02/05/25		446,162
	330,000		Redfin Corp. 0.000%, 10/15/25		200,584
	200,000		Vingroup, JSC 3.000%, 04/20/26		169,996

					816,742

			TOTAL CONVERTIBLE BONDS (Cost $117,305,689)		104,343,959

	BANK LOANS (2.1%) ¡
			*Airlines (0.1%)*
	190,000		AAdvantage Loyalty IP, Ltd.‡ 7.460%, 04/20/28 3 mo. LIBOR + 4.75%		187,625
	165,000		Mileage Plus Holdings, LLC! 0.000%, 06/21/27		163,366
	55,000		Mileage Plus Holdings, LLC‡ 7.313%, 06/21/27 3 mo. LIBOR + 5.25%		58,834
	281,438		United Airlines, Inc.‡ 6.533%, 04/21/28 1 mo. LIBOR + 3.75%		272,044

					681,869

			*Communication Services (0.2%)*
	340,375		Clear Channel Outdoor Holdings, Inc.‡ 5.872%, 08/21/26 3 mo. LIBOR + 3.50%		311,445
	325,349		DIRECTV Financing, LLC‡ 7.372%, 08/02/27 1 mo. LIBOR + 5.00%		308,353


PRINCIPAL AMOUNT			VALUE
	170,000	Entercom Media Corp.‡ 4.846%, 11/18/24 1 mo. LIBOR + 2.50%	$	151,141
	81,273	Nexstar Broadcasting, Inc.‡ 4.872%, 09/18/26 1 mo. LIBOR + 2.50%		80,522
	105,000	Univision Communications, Inc.‡ 6.254%, 06/08/29 3 mo. SOFR + 4.25%		101,675

				953,136

		*Consumer Discretionary (0.4%)*
	72,430	Life Time Fitness, Inc.‡ 6.325%, 12/16/24 3 mo. LIBOR + 4.75%		71,615
	100,000	Peloton Interactive, Inc.! 0.000%, 05/25/27		95,417
	108,100	Penn National Gaming, Inc.‡ 5.177%, 05/03/29 1 mo. SOFR + 2.75%		106,006
	390,063	Petco Health and Wellness Company, Inc.‡ 5.500%, 03/03/28 3 mo. LIBOR + 3.25%		378,573
	385,964	PetSmart, Inc.‡ 6.120%, 02/11/28 1 mo. LIBOR + 3.75%		373,016
	230,000	SkyMiles IP, Ltd.‡ 6.460%, 10/20/27 3 mo. LIBOR + 3.75%		232,933
	252,963	TKC Holdings, Inc.‡ 7.000%, 05/15/28 3 mo. LIBOR + 5.50%		232,726
	363,825	WW International, Inc.‡ 5.880%, 04/13/28 1 mo. LIBOR + 3.500%		275,030

				1,765,316

		*Consumer Staples (0.0%)*
	79,039	United Natural Foods, Inc.‡ 5.691%, 10/22/25 1 mo. LIBOR + 3.25%		78,245

		*Financials (0.1%)*
	297,000	Jazz Financing Lux Sarl‡ 5.872%, 05/05/28 1 mo. LIBOR + 3.50%		290,813

		*Health Care (0.4%)*
	378,715	Amneal Pharmaceuticals, LLC‡ 5.813%, 05/04/25 1 mo. LIBOR + 3.50%		353,901
	55,000	Bausch Health Companies, Inc.‡ 7.174%, 02/01/27 1 mo. SOFRTE + 5.25%		46,444
	153,617	Icon Luxembourg Sarl‡ 4.563%, 07/03/28 3 mo. LIBOR + 2.25%		151,203
	38,274	Icon Luxembourg Sarl‡ 4.563%, 07/03/28 3 mo. LIBOR + 2.25%		37,672
	299,526	Mallinckrodt International Finance S.A.‡ 7.253%, 09/30/27 3 mo. LIBOR + 5.25%		250,265


PRINCIPAL AMOUNT			VALUE
	235,294	Padagis, LLC‡ 7.043%, 07/06/28 3 mo. LIBOR + 4.75%	$	223,529
	643,228	Team Health Holdings, Inc.‡ 7.577%, 03/02/27 1 mo. SOFR + 5.25%		531,197

				1,594,211

		*Industrials (0.3%)*
	108,900	ACProducts, Inc.‡ 6.500%, 05/17/28 6 mo. LIBOR + 4.25%		78,757
	140,000	Air Canada‡ 4.250%, 08/11/28 3 mo. LIBOR + 3.50%		135,250
	215,622	BW Gas & Convenience Holdings, LLC‡ 5.872%, 03/31/28 1 mo. LIBOR + 3.50%		207,536
	278,620	Dun & Bradstreet Corp.‡ 4.874%, 02/06/26 3 mo. LIBOR + 3.25%		271,886
	228,643	Granite Holdings US Acquisition Company‡ 6.250%, 09/30/26 3 mo. LIBOR + 4.00%		221,498
	200,000	Scientific Games International, Inc.‡ 5.044%, 04/14/29 1 mo. LIBOR + 3.00%		195,917
	160,000	Sinclair Television Group, Inc.‡ 6.177%, 04/21/29 1 mo. SOFR + 3.75%		149,400

				1,260,244

		*Information Technology (0.3%)*
	300,629	Banff Merger Sub, Inc.‡ 6.122%, 10/02/25 1 mo. LIBOR + 3.75%		290,251
	326,625	Camelot U.S. Acquisition LLC‡ 5.372%, 10/30/26 1 mo. LIBOR + 3.00%		319,531
	152,675	Camelot U.S. Acquisition LLC‡ 5.372%, 10/30/26 1 mo. LIBOR + 3.00%		149,240
	50,000	CDK Global, Inc.‡ 6.610%, 07/06/29 3 mo. SOFR + 4.50%		48,700
	215,000	II-VI, Inc.! 0.000%, 07/02/29		209,803
	295,000	VFH Parent, LLC‡ 5.201%, 01/13/29 1 mo. SOFRTE + 3.00%		285,289

				1,302,814

		*Materials (0.1%)*
	195,500	Innophos, Inc.‡ 5.872%, 02/05/27 1 mo. LIBOR + 3.75%		190,124
	109,725	LSF11 A5 HoldCo, LLC‡ 5.030%, 10/15/28 1 mo. SOFR + 3.50%		106,342

				296,466


PRINCIPAL AMOUNT			VALUE
		*Other (0.1%)*
	275,000	ChampionX Corp.‡ 5.080%, 06/07/29 1 mo. LIBOR + 3.25%	$	273,969

		*Special Purpose Acquisition Companies (0.1%)*
	210,000	AP Core Holdings II, LLC‡ 7.872%, 09/01/27 1 mo. LIBOR + 5.50%		198,845
	110,000	Clydesdale Acquisition Holdings, Inc.‡ 6.602%, 04/13/29 1 mo. SOFR + 4.18%		105,975
	54,863	Fertitta Entertainment, LLC‡ 6.327%, 01/27/29 SOFRTE + 4.00%		52,470
	230,000	Oscar AcquisitionCo, LLC‡ 6.108%, 04/29/29 3 mo. SOFR + 4.50%		210,414

				567,704

		TOTAL BANK LOANS (Cost $9,596,219)		9,064,787

NUMBER OF SHARES			VALUE
	CONVERTIBLE PREFERRED STOCKS (3.5%)
		*Communication Services (0.0%)*
	155	T-Mobile Exchangeable Trust* 5.250%, 06/01/23		186,620

		*Consumer Discretionary (1.3%)*
	47,515	Aptiv, PLC 5.500%, 06/15/23		5,762,144

		*Energy (0.0%)*
	5	Gulfport Energy Operating Corp.‡ 10.000% 15.000% PIK rate		33,000

		*Financials (0.3%)*
	417	Bank of America Corp.^‡‡ 7.250%		518,769
	3,178	KKR & Company, Inc.^ 6.000%, 09/15/23		222,460
	413	Wells Fargo & Company‡ ‡‡ 7.500%		524,097

				1,265,326

		*Health Care (0.1%)*
	124	Danaher Corp.^ 5.000%, 04/15/23		188,709

		*Information Technology (1.2%)*
	2,971	Broadcom, Inc.~ 8.000%, 09/30/22		4,984,744

		*Utilities (0.6%)*
	1,995	AES Corp.^ 6.875%, 02/15/24		181,066
	3,319	American Electric Power Company, Inc.^ 6.125%, 08/15/23		183,474


NUMBER OF SHARES				VALUE
	11,850		DTE Energy Company 6.250%, 11/01/22	$	611,816
			NextEra Energy, Inc.
	22,830		4.872%, 09/01/22		1,401,534
	4,936		6.219%, 09/01/23^		261,016

					2,638,906

			TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $18,502,452)		15,059,449

	COMMON STOCKS (74.9%)
			*Communication Services (6.2%)*
	112,000		Alphabet, Inc. - Class A^#		13,027,840
	4,575		Altice USA, Inc. - Class A#		48,083
	84,900	HKD	Baidu, Inc. - Class A#		1,467,445
	395	EUR	CTS Eventim, AG & Company KGaA#		21,758
	1,735		Cumulus Media, Inc. - Class A^#		13,776
	1		Frontier Communications Parent, Inc.#		26
	570	EUR	IPSOS		29,216
	10,200		Meta Platforms, Inc. - Class A#		1,622,820
	96,000	EUR	Orange, SA		980,969
	89,070		Tencent Holdings, Ltd.^		3,443,446
	48,700	HKD	Tencent Holdings, Ltd.		1,882,197
	1,176,545	GBP	Vodafone Group, PLC		1,733,824
	26,395		Walt Disney Company~#^		2,800,510
	4,455	GBP	YouGov, PLC		59,404

					27,131,314

			*Consumer Discretionary (7.4%)*
	98,400	HKD	Alibaba Group Holding, Ltd.#		1,106,357
	8,175		Alibaba Group Holding, Ltd.#		730,600
	14,410	MXN	Alsea, SAB de CV#		28,112
	89,300		Amazon.com, Inc.^#		12,051,035
	58,059		Arcos Dorados Holdings, Inc. - Class A		421,508
	11,100	CNY	BYD Company, Ltd. - Class A		530,534
	9,000	CNY	China Tourism Group Duty Free Corp., Ltd. - Class A		281,115
	1,530	EUR	CIE Automotive, SA^		40,247
	35,100	CHF	Cie Financiere Richemont, SA - Class A		4,232,270
	119,000	GBP	Compass Group, PLC		2,788,936
	217,000	HKD	Geely Automobile Holdings, Ltd.		430,288
	47,000	CNY	Haier Smart Home Company, Ltd. - Class A		173,180
	32,069	HKD	JD.com, Inc. - Class A		956,700
	93,500	HKD	Li Ning Company, Ltd.		758,438
	38,700	INR	Mahindra & Mahindra, Ltd.		570,136
	89,500	IDR	Matahari Department Store Tbk PT		27,422
	18,700	HKD	Meituan - Class B*#		419,504
	385,500	THB	Minor International PCL#		350,835
	6,600		New Oriental Education & Technology Group, Inc.#		180,906
	2,100	JPY	Nextage Company, Ltd.		46,450
	180	INR	Page Industries, Ltd.		110,989
	3,800	EUR	Prosus, NV#		247,893
	343,800	HKD	Samsonite International, SA*#		721,157
	182,400	HKD	Sands China, Ltd.#		427,826
	1,210	EUR	Sanlorenzo S.p.A. / Ameglia		42,125
	4,430		Tesla, Inc.#		3,949,124
	6,250	GBP	Trainline, PLC*#		30,257


NUMBER OF SHARES				VALUE
	9,090	AUD	Webjet, Ltd.^#	$	33,120
	7,700	HKD	Yum China Holdings, Inc.		360,515

					32,047,579

			*Consumer Staples (6.2%)*
	2,200	INR	Britannia Industries, Ltd.		108,302
	128,700	GBP	British American Tobacco, PLC		5,042,933
	72,850		Coca-Cola Company^		4,674,785
	5,000		Costco Wholesale Corp.		2,706,500
	3,200	INR	Hindustan Unilever, Ltd.		106,673
	63,800	BRL	Hypera, SA		525,162
	1,500	JPY	Kobe Bussan Company, Ltd.		42,758
	1,700	CNY	Kweichow Moutai Company, Ltd. - Class A		478,977
	19,000	HKD	L’Occitane International, SA		64,816
	47,650		Mondelez International, Inc. - Class A		3,051,506
	30,700	CHF	Nestle, SA		3,761,587
	14,000	CNY	Proya Cosmetics Company, Ltd. - Class A		366,456
	765	DKK	Royal Unibrew, A/S		65,242
	111,200	JPY	Seven & i Holdings Company, Ltd.		4,532,535
	106,000	HKD	Smoore International Holdings, Ltd.*^		244,799
	860,000	IDR	Sumber Alfaria Trijaya Tbk PT		108,873
	55,175	INR	Varun Beverages, Ltd.		615,518
	157,100	MXN	Wal-Mart de Mexico, SAB de CV		571,126

					27,068,548

			*Energy (4.8%)*
	4,725	CAD	ARC Resources, Ltd.		66,269
	11,178		Calfrac Well Services, Ltd.#&		41,247
	100,600	CAD	Canadian Natural Resources, Ltd.		5,554,977
	30,620	CAD	CES Energy Solutions Corp.		63,605
	2,577		Chaparral Energy, Inc. - Class A#&		136,581
	650		Chesapeake Energy Corp.		61,211
	17,600		Chevron Corp.~		2,882,528
	14,985		Energy Transfer, LP		169,480
	9,035		Enterprise Products Partners, LP		241,506
	1,826		EP Energy Corp.#&		15,521
	2,930		Magellan Midstream Partners, LP		150,895
	37,596		Marathon Petroleum Corp.		3,446,049
	20,560	EUR	Motor Oil Hellas Corinth Refineries, SA		356,373
	18,245	AUD	New Hope Corp, Ltd.^		56,525
	138,800	THB	PTT Exploration & Production, PCL		612,741
	36,300	INR	Reliance Industries, Ltd.		1,153,462
	16,900	ZAR	Sasol, Ltd.#		355,014
	123,314		Schlumberger, NV		4,566,317
	4,189		Superior Energy Services, Inc.&#		251,340
	279,100	IDR	United Tractors, Tbk PT		609,948
	5,825	CAD	Whitecap Resources, Inc.^		44,533
	2,500		Williams Companies, Inc.		85,225

					20,921,347

			*Financials (10.0%)*
	307,200	HKD	AIA Group, Ltd.		3,086,329
	1,285,979	IDR	Bank Central Asia, Tbk PT		639,466
	570,700	IDR	Bank Mandiri Persero, Tbk PT		319,454
	189,000		Bank of America Corp.^~		6,390,090
	10,350	EUR	Bank of Ireland Group, PLC		59,217
	8,250		Chubb, Ltd.		1,556,280
	111,948	AED	First Abu Dhabi Bank, PJSC		592,484
	87,900	ZAR	FirstRand, Ltd.		347,712


NUMBER OF SHARES				VALUE
	13,570	KRW	Hana Financial Group, Inc.	$	388,868
	137,750	INR	HDFC Bank, Ltd.		2,519,320
	4,450	INR	Housing Development Finance Corp., Ltd.		134,924
	8,600		ICICI Bank, Ltd.		178,708
	228,300	EUR	ING Groep, NV		2,217,666
	243,416		Itau Unibanco Holding, SA		1,095,372
	50,675		JPMorgan Chase & Company^~		5,845,868
	98,900	THB	Kasikornbank PCL		388,448
	4,120,000	GBP	Lloyds Banking Group, PLC		2,281,071
	21,830	GBP	Man Group PLC		72,623
	64,635		Morgan Stanley^		5,448,730
	7,745	GBP	Paragon Banking Group, PLC		50,568
	260,000	HKD	Ping An Insurance Group Company of China, Ltd. - Class H		1,528,030
	906,000	HKD	Postal Savings Bank of China Company of China, Ltd. - Class H*^		599,432
	34,950	SAR	Saudi National Bank		656,072
	10,825	AUD	Steadfast Group, Ltd.		40,583
	129,570		UBS Group, AG^#		2,104,217
	111,125		Wells Fargo & Company~		4,875,054

					43,416,586

		*Health Care (10.4%)*
	2,940	GBP	Abcam, PLC#		43,938
	63,659	CNY	Aier Eye Hospital Group Company, Ltd. - Class A		287,714
	117,006		Alcon, Inc.		9,136,998
	36,100	GBP	AstraZeneca, PLC		4,748,638
	73,200	THB	Bumrungrad Hospital PCL		361,923
	590	SEK	Cellavision, AB		21,254
	7,700	SAR	Dallah Healthcare Company		253,428
	8,955		Danaher Corp.		2,610,114
	790	GBP	Dechra Pharmaceuticals, PLC		35,552
	14,160		Eli Lilly & Company^		4,668,410
	3,680	GBP	Ergomed, PLC#		54,061
	1,570	EUR	Fagron		23,947
	425		Galapagos, NV#		21,637
	18,000	CNY	Hangzhou Tigermed Consulting Company, Ltd. - Class A		272,985
	5,150		Humana, Inc.		2,482,300
	4,208		Mallinckrodt, PLC#		73,640
	1,200	JPY	Menicon Company, Ltd.		30,259
	7,400	SAR	Mouwasat Medical Services Company		487,246
	83,400		Novo Nordisk, A/S		9,679,404
	1,700	JPY	Ono Pharmaceutical Company, Ltd.		47,802
	43,900	EUR	Sanofi		4,362,497
	8,900		UnitedHealth Group, Inc.^		4,826,826
	51,000	HKD	Wuxi Biologics Cayman, Inc.*#		488,178

					45,018,751

		*Industrials (6.5%)*
	1,260	EUR	Aalberts, NV		53,998
	51,500	EUR	Airbus, SE		5,552,817
	165,000	THB	Airports of Thailand PCL#		314,894
	457	EUR	Alfen Beheer, BV*#		53,349
	37,029	EUR	Alstom, SA		880,020
	100	JPY	BayCurrent Consulting, Inc.		31,286
	186,800	INR	Bharat Electronics, Ltd.		649,337
	31,200	CAD	Canadian Pacific Railway, Ltd.		2,460,087
	9,100	CNY	Contemporary Amperex Technology Company, Ltd. - Class A#		691,438


NUMBER OF SHARES				VALUE
	800	EUR	DO & CO, AG#	$	66,841
	850	JPY	Ebara Corp.		33,298
	30,312		General Electric Company		2,240,360
	16,800	INR	Hindustan Aeronautics, Ltd.		430,396
	6,170	PHP	International Container Terminal Services, Inc.		21,737
	11,195	KRW	Korea Aerospace Industries, Ltd.		492,349
	4,150	EUR	Leonardo S.p.A		38,871
	20,500	CNY	Ningbo Orient Wires & Cables Company, Ltd. - Class A		243,512
	1,660	EUR	Rexel, SA#		29,502
	360	EUR	Rheinmetall, AG		66,016
	39,000	EUR	Schneider Electric, SE		5,393,849
	2,185	JPY	Sojitz Corp.		33,205
	1,215	CAD	Stantec, Inc.		59,955
	18,400	CNY	Sungrow Power Supply Company, Ltd. - Class A		339,092
	37,000	EUR	Thales, SA		4,601,306
	2,300	JPY	THK Company, Ltd.		48,796
	18,250		Waste Management, Inc.~		3,003,220
	106,400	CNY	YTO Express Group Company, Ltd. - Class A		305,461

					28,134,992

		*Information Technology (19.1%)*
	18,300		Accenture, PLC - Class A		5,604,558
	260	EUR	Alten, SA		35,214
	86,400		Apple, Inc.^		14,040,864
	13,720		ASML Holding, NV		7,881,317
	47,000	HKD	BOE Varitronix, Ltd.		109,269
	461		CyberArk Software, Ltd.#		59,990
	63,000	TWD	E Ink Holdings, Inc.		414,464
	28,901		Infosys, Ltd.		563,280
	14,900	JPY	Keyence Corp.		5,905,497
	239,000	HKD	Kingdee International Software Group Company, Ltd.#		516,030
	1,775	EUR	Lectra		62,389
	8,000	TWD	Marketech International Corp.		30,509
	25,000	TWD	MediaTek, Inc.		576,002
	48,900		Microsoft Corp.~^		13,728,186
	540,000	EUR	Nokia Oyj		2,812,633
	31,890		NVIDIA Corp.~		5,792,181
	12,600		salesforce, Inc.^#		2,318,652
	32,540	KRW	Samsung Electronics Company, Ltd.		1,540,286
	800	JPY	SCREEN Holdings Company, Ltd.		57,895
	16,600	KRW	SK Hynix, Inc.		1,254,907
	853,000	TWD	Taiwan Semiconductor Manufacturing Company, Ltd.		14,628,579
	22,825		Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)		2,019,556
	79,100	BRL	TOTVS, SA		403,136
	11,200		Visa, Inc. - Class A		2,375,632

					82,731,026

		*Materials (2.6%)*
	174,625	CAD	Barrick Gold Corp.		2,751,890
	462,635	AED	Fertiglobe, PLC		604,241
	100,945		Freeport-McMoRan, Inc.^		3,184,815
	7,340	AUD	IGO, Ltd.		57,515
	620	JPY	Kureha Corp.		47,153
	521,200	NOK	Norsk Hydro, ASA		3,531,250
	1,795	AUD	OZ Minerals, Ltd.		23,973
	16,350	GBP	Rio Tinto, PLC		987,041
	6,780		Yamana Gold, Inc.		32,408

					11,220,286


NUMBER OF SHARES				VALUE

			*Real Estate (0.3%)*
	935,500	PHP	Ayala Land, Inc.	$	429,334
	104,000	HKD	China Overseas Land & Investment, Ltd.		287,396
	98,800	INR	DLF, Ltd.		480,914
	239	EUR	VGP, NV		41,977

					1,239,621


			*Special Purpose Acquisition Companies (0.9%)#*
	2,830		Intelsat Emergence, SA#&		77,825
	82,300	GBP	Shell, PLC		2,195,461
	55,200	EUR	Shell, PLC		1,471,143

					3,744,429


			*Utilities (0.5%)*
	4,800	SAR	ACWA Power Company		224,448
	20,500	GBP	Centrica, PLC#		21,966
	45,801	EUR	Engie,SA		564,540
	29,000	EUR	RWE, AG		1,193,000

					2,003,954

			TOTAL COMMON STOCKS (Cost $426,451,777)		324,678,433

	PREFERRED STOCKS (0.2%)

			*Consumer Discretionary (0.1%)*
	1,597		Guitar Center, Inc.&		190,842


			*Energy (0.1%)*
	8,293		NuStar Energy, LP^‡ 7.673%, 3 mo. USD LIBOR + 5.64%		173,739
	4,233		NuStar Energy, LP^‡ 8.769%, 3 mo. USD LIBOR + 6.77%		101,380
	11,500		NuStar Logistics, LP^‡ 9.246%, 01/15/43 3 mo. USD LIBOR + 6.73%		287,270

					562,389

			*Financials (0.0%)*
	4,368		B Riley Financial, Inc. 5.250%, 08/31/28		96,052

			TOTAL PREFERRED STOCKS (Cost $911,254)		849,283


PRINCIPAL AMOUNT				VALUE
	U.S. GOVERNMENT AND AGENCY SECURITIES (16.4%)

			*Other (16.4%)*
			U.S. Treasury Note
	7,425,000		2.250%, 04/30/24		7,340,309
	7,425,000		2.000%, 05/31/24		7,306,084
	7,100,000		2.500%, 05/31/24^		7,046,611
	7,100,000		2.125%, 03/31/24		7,005,148
	6,850,000		1.750%, 06/30/24^		6,706,444
	5,625,000		0.125%, 01/31/23µ		5,548,865
	5,465,000		2.375%, 01/31/23µ		5,451,124


PRINCIPAL AMOUNT			VALUE
	5,455,000	2.125%, 12/31/22^µ	$	5,440,190
	5,445,000	2.000%, 11/30/22		5,433,621
	5,270,000	2.250%, 03/31/24		5,209,992
	4,475,000	2.000%, 06/30/24^		4,400,184
	4,440,000	2.500%, 04/30/24^		4,406,527

		TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES (Cost $71,700,225)		71,295,099


NUMBER OF SHARES			VALUE

	WARRANTS (0.0%) #

		*Energy (0.0%)*
	1,446	Denbury, Inc. 09/18/25, Strike $32.59		66,545
	534	Denbury, Inc. 09/18/23, Strike $35.41		20,292
	13,401	Mcdermott International, Ltd.& 06/30/27, Strike $15.98		1
	12,061	Mcdermott International, Ltd. 06/30/27, Strike $12.33		1

		TOTAL WARRANTS (Cost $84,971)		86,839


NUMBER OF CONTRACTS/ NOTIONAL AMOUNT			VALUE

	PURCHASED OPTIONS (2.0%) #

		*Communication Services (0.3%)*
	105	Baidu, Inc.
	1,433,985	Call, 01/20/23, Strike $165.00	$	92,400
	715	Live Nation Entertainment, Inc.
	6,720,285	Call, 01/20/23, Strike $90.00		1,011,725

				1,104,125

		*Consumer Discretionary (0.1%)*
	550	Amazon.com, Inc.
	7,422,250	Put, 11/18/22, Strike $100.00		86,350
	120	Li Auto, Inc.
	394,080	Call, 09/16/22, Strike $40.00		10,440
	74	Pinduoduo, Inc.
	362,674	Call, 10/21/22, Strike $65.00		16,798
	176	Trip.com Group, Ltd.
	453,728	Call, 01/20/23, Strike $30.00		44,000
	180	Vail Resorts, Inc.
	4,268,340	Call, 01/20/23, Strike $240.00		401,400

				558,988

		*Energy (0.1%)*
		Eog Resources, Inc.
	180
	2,001,960	Call, 01/20/23, Strike $122.20		170,100
	155
	1,723,910	Call, 01/20/23, Strike $158.20		34,875
		Pioneer Natural Resources Company
	90
	2,132,550	Call, 01/20/23, Strike $240.00		186,750


NUMBER OF CONTRACTS/ NOTIONAL AMOUNT				VALUE
	80
	1,895,600		Call, 01/20/23, Strike $310.00	$	39,600
	20	EUR	Totalenergies,
	99,951		Call, 12/16/22, Strike 56.00		2,944

					434,269

			*Financials (0.2%)*
	490		Bank of America Corp.
	1,656,690		Put, 01/20/23, Strike $32.00		100,940
	140		Berkshire Hathaway, Inc.
	4,208,400		Call, 11/18/22, Strike $310.00		148,750
	6,500		ING Groep, NV
	6,324,500		Put, 01/20/23, Strike $9.00		455,000
	120		JPMorgan Chase & Company
	1,384,320		Put, 01/20/23, Strike $115.00		102,000

					806,690

			*Industrials (0.4%)*
	555		Quanta Services, Inc.
	7,699,515		Call, 11/18/22, Strike $120.00		1,365,300
	48	EUR	Schneider Electric, SE
	649,536		Call, 12/16/22, Strike 120.00		96,498

					1,461,798

			*Information Technology (0.2%)*
	110		Adobe, Inc.
	4,511,320		Call, 01/20/23, Strike $400.00		546,700
	1,390		Taiwan Semiconductor Mfg
	12,298,720		Put, 01/20/23, Strike $75.00		448,275

					994,975

			*Other (0.7%)*
	790		Invesco QQQ Trust Series
	24,921,340		Call, 12/16/22, Strike $450.00		7,900
			iShares China Large-Cap ETF
	1,520
	4,617,760		Put, 11/18/22, Strike $28.00		155,040
	1,370
	4,162,060		Call, 01/20/23, Strike $35.00		108,230
	975		iShares MSCI Brazil ETF
	2,829,450		Call, 01/20/23, Strike $30.00		236,437
	1,190		iShares MSCI Emerging Markets
	4,755,240		Put, 11/18/22, Strike $37.00		112,455
	1,750		iShares MSCI Emerging Markets
	6,993,000		Put, 09/16/22, Strike $38.00		92,750
	2,060		SPDR S&P 500 ETF Trust
	52,400,220		Put, 11/18/22, Strike $390.00		2,322,650
	675		SPDR S&P 500 ETF Trust
	17,169,975		Call, 12/16/22, Strike $535.00		7,425
	750		Xtrackers Harvest CSI
	2,349,000		Put, 01/20/23, Strike $28.00		76,125

					3,119,012

			*Special Purpose Acquisition Company (0.0%)*
	175		Shell, PLC
	934,150		Call, 01/20/23, Strike $55.00		66,500

			TOTAL PURCHASED OPTIONS
			(Cost $15,643,682)		8,546,357


		VALUE
	TOTAL INVESTMENTS (142.4%) (Cost $750,988,560)	$	616,959,940

MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-21.1%)			(91,500,000	)

LIABILITIES, LESS OTHER ASSETS (-21.3%)			(92,136,010	)

NET ASSETS (100.0%)		$	433,323,930

NOTES TO SCHEDULE OF INVESTMENTS

Securities issued and sold pursuant to a Rule 144A transaction are exempted from the registration requirement of the Securities Act of 1933, as amended. These securities may only be sold to qualified institutional buyers (“QIBs”), such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the Act or otherwise exempted from such registration requirements.

^	Security, or portion of security, is on loan.

@	In default status and considered non-income producing.

‡	Variable rate security. The rate shown is the rate in effect at July 31, 2022.

&	Illiquid security.

~	Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options and securities sold short. The aggregate value of such securities is $27,667,718.

¡	Bank loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be substantially less than the stated maturities shown.

!	This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date.

‡‡	Perpetual maturity.

#	Non-income producing security.

µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $14,007,324.

FOREIGN CURRENCY ABBREVIATIONS


AED		UAE Dirham
AUD		Australian Dollar
BRL		Brazilian Real
CAD		Canadian Dollar
CHF		Swiss Franc
CNY		Chinese Yuan Renminbi
DKK		Danish Krone
EUR		European Monetary Unit
GBP		British Pound Sterling
HKD		Hong Kong Dollar
IDR		Indonesian Rupiah
INR		Indian Rupee
JPY		Japanese Yen
KRW		South Korean Won
MXN		Mexican Peso
NOK		Norwegian Krone
PHP		Philippine Peso
SAR		Saudi Riyal
SEK		Swedish Krona
SGD		Singapore Dollar

Organization. Calamos Global Dynamic Income Fund (the “Fund”) was organized as a Delaware statutory trust on April 10, 2007 and is registered under the Investment Company Act of 1940 (the “1940 Act”) as a diversified, closed-end management investment company. The Fund commenced operations on June 27, 2007.

The Fund’s investment strategy is to generate a high level of current income with a secondary objective of capital appreciation. Under normal circumstances, the Fund will invest primarily in a globally diversified portfolio of convertible instruments, common and preferred stocks, and income-producing securities such as investment grade and below investment grade (high yield/high risk) debt securities. The Fund, under normal circumstances, will invest at least 40% of its managed assets in securities of foreign issuers in developed and emerging markets, including debt and equity securities of corporate issuers and debt securities of government issuers. “Managed assets” means the Fund’s total assets (including any assets attributable to any leverage that may be outstanding) minus total liabilities (other than debt representing financial leverage).

Significant Accounting Policies. The Schedule of Investments has been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following summarizes the significant accounting policies of the Fund:

Fund Valuation. The valuation of the Fund’s investments is in accordance with policies and procedures adopted by and under the ultimate supervision of the board of trustees.

Fund securities that are traded on U.S. securities exchanges, except option securities, are valued at the official closing price, which is the last current reported sales price on its principal exchange at the time each Fund determines its net asset value (“NAV”). Securities traded in the over-the-counter market and quoted on The NASDAQ Stock Market are valued at the NASDAQ Official Closing Price, as determined by NASDAQ, or lacking a NASDAQ Official Closing Price, the last current reported sale price on NASDAQ at the time the Fund determines its NAV. When a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid and asked quotations on its principal exchange in accordance with guidelines adopted by the board of trustees. Each option security traded on a U.S. securities exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines adopted by the board of trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is valued either by an independent pricing agent approved by the board of trustees or based on a quotation provided by the counterparty to such option under the ultimate supervision of the board of trustees.

Fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives are normally valued by independent pricing services or by dealers or brokers who make markets in such securities. Valuations of such fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives consider yield or price of equivalent securities of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not rely exclusively upon exchange or over-the-counter prices.

Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the New York Stock Exchange (“NYSE”) is open. Each security trading on these exchanges or in over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the board of trustees. The valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when the NYSE is not open and on which the Fund’s NAV is not calculated.

If the pricing committee determines that the valuation of a security in accordance with the methods described above is not reflective of a fair value for such security, the security is valued at a fair value by the pricing committee, under the ultimate supervision of the board of trustees, following the guidelines and/or procedures adopted by the board of trustees.

The Fund also may use fair value pricing, pursuant to guidelines adopted by the board of trustees and under the ultimate supervision of the board of trustees, if trading in the security is halted or if the value of a security it holds is materially affected by events occurring before the Fund’s pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by the board of trustees, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.

When fair value pricing of securities is employed, the prices of securities used by a Fund to calculate its NAV may differ from market quotations or official closing prices. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund’s net asset value (“NAV”).

Foreign Currency Translation. Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using a rate quoted by a major bank or dealer in the particular currency market, as reported by a recognized quotation dissemination service.

Option Transactions. For hedging and investment purposes, the Fund may purchase or write (sell) put and call options. One of the risks associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of premium and change in value should the counterparty not perform under the contract. The Fund as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option.

The cost basis of investments for federal income tax purposes at July 31, 2022 was as follows*:

Securities sold short represent obligations to deliver the securities at a future date. The Fund may sell a security it does not own in anticipation of a decline in the value of that security before the delivery date. When a Fund sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. Dividends paid on securities sold short are disclosed as an expense on the Statement of Operations. A gain, limited to the price at which a Fund sold the security short, or a loss, unlimited in size, will be realized upon the termination of a short sale.

To secure its obligation to deliver to the broker-dealer the securities sold short, the Fund must segregate an amount of cash or liquid securities with its custodian equal to any excess of the current market value of the securities sold short over any cash or liquid securities deposited as collateral with the broker in connection with the short sale (not including the proceeds of the short sale). As a result of that requirement, the Fund will not gain any leverage merely by selling short, except to the extent that it earns interest or other income or gains on the segregated cash or liquid securities while also being subject to the possibility of gain or loss from the securities sold short.

The Fund issued MRPS on August 24, 2021 and September 6, 2017. On August 24, 2021, 1,060,000 MRPS were issued with an aggregate liquidation preference of $26.5 million. On September 6, 2017, 2,600,000 MRPS were issued with an aggregate liquidation preference of $65.0 million. Offering costs incurred by the Fund in connection with the MRPS issuance are aggregated with the outstanding liability and are being amortized to Interest expense and amortization of offering costs on MRPS over the respective life of each series of MRPS and shown in the Statement of Operations.

The MRPS are divided into five series with different mandatory redemption dates and dividend rates. The table below summarizes the key terms of each series of the MRPS at July 31, 2022.

The MRPS are not listed on any exchange or automated quotation system. The MRPS are considered debt of the issuer; therefore, the liquidation preference, which approximates fair value of the MRPS, is recorded as a liability in the Statement of Assets and Liabilities net of deferred offering costs. The MRPS are categorized as Level 2 within the fair value hierarchy.

Previously, Series A, B, and C of the MRPS had been assigned a rating of “AA” by Fitch Ratings, Inc. (“Fitch”). As of December 17, 2020, Kroll Bond Rating Agency LLC (“Kroll”) replaced Fitch as the rating agency for the MRPS. Series A, B, and C of the MRPS have been assigned a rating of `AA-’ by Kroll. As of August 24, 2021, the Series D MRPS and Series E MRPS have each been assigned a rating of `AA-’ by Kroll. If the ratings of the MRPS are downgraded, the Fund’s dividend expense may increase, as described below.

Holders of MRPS are entitled to receive monthly cumulative cash dividends payable on the first business day of each month. The MRPS currently are rated “AA-” by Kroll. If on the first day of a monthly dividend period the MRPS of any class are rated lower than “A” by Kroll, the dividend rate for such period shall be increased by 0.5%, 2.0% or 4.0% according to an agreed upon schedule. The MRPS’ dividend rate is also subject to increase during periods when the Fund has not made timely payments to MRPS holders and/or the MRPS do not have a current credit rating, subject to various terms and conditions. Dividends accrued and paid to the shareholders of MRPS are included in “Interest expense and amortization of offering costs on Mandatory Redeemable Preferred Shares” within the Statement of Operations.

With regard to the Series A MRPS, Series B MRPS or Series C MRPS, so long as any MRPS are outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than non-cash distributions) with respect to Fund shares ranking junior to or on parity with the MRPS, unless (1) the Fund has satisfied the MRPS Overcollateralization Test (as defined below) on at least one “valuation date” in the preceding 65 calendar days, (2) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test (as defined below), (3) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the holders of MRPS and (4) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption or deposited sufficient monies with the Fund’s paying agent for that purpose, subject to certain grace periods and exceptions.

MRPS Asset Coverage Test: Asset coverage with respect to all outstanding senior securities and preferred shares, including the MRPS, determined in accordance with Section 18(h) of the 1940 Act, on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of determination, must be greater than or equal to 225%.

MRPS Overcollateralization Test: So long as Fitch or any other NSRSO, such as Kroll, is then rating any class of the outstanding MRPS pursuant to the request of the Fund, satisfaction of only those overcollateralization ratios applicable to closed-end fund issuers with the same rating(s) as the Fund’s MRPS’ then-current rating(s) issued by Fitch or such other NSRSO, such as Kroll, by application of the applicable rating agency guidelines.

With regard to Series D MRPS and Series E MRPS, for so long as any MRPS are Outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than a dividend or distribution paid in shares of, or options, warrants or rights to subscribe for or purchase, Common Shares or other shares of beneficial interest, if any, ranking junior to the MRPS as to dividends or upon liquidation (collectively “non-cash distributions”) with respect to Common Shares or any other shares of the Series or Fund ranking junior to or on a parity with the MRPS as to dividends or upon liquidation, or call for redemption, redeem, purchase or otherwise acquire for consideration any Common Shares or any other such junior shares (except by conversion into or exchange for shares of the Fund ranking junior to the MRPS as to dividends and upon liquidation) or any such parity shares (except by conversion into or exchange for shares of the Fund ranking junior to or on a parity with the MRPS as to dividends and upon liquidation), unless (1) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test, (2) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the Holders of MRPS, and (3) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption contained in Section 3(a) or deposited sufficient monies with the Paying Agent for that purpose (without regard to the provisions of the Special Proviso); provided that the Fund may make any distributions reasonably necessary for the Fund to continue to qualify as a “regulated investment company” under Subchapter M of the Internal Revenue Code and to avoid excise tax under Section 4982 of the Internal Revenue Code (“Tax Required Payments”). For the avoidance of doubt, any such Tax Required Payments would only be paid to holders of Common Shares after full cumulative dividends due on or prior to the date of the applicable distribution and any mandatory redemptions occurring on or prior to the date of the applicable distribution have been paid to the holders of MRPS.

Except as otherwise required pursuant to the Fund’s governing documents or applicable law, the holders of the MRPS have one vote per share and vote together with the holders of common stock of the Fund as a single class except on matters affecting only the holders of MRPS or the holders of common stock. Pursuant to the 1940 Act, holders of the MRPS have the right to elect at least two trustees of the Fund, voting separately as a class. Except during any time when the Fund has failed to make a dividend or redemption payment in respect of MRPS outstanding, the holders of MRPS have agreed to vote in accordance with the recommendation of the board of trustees on any matter submitted to them for their vote or to the vote of shareholders of the Fund generally.


THB		Thai Baht
TWD		New Taiwan Dollar
ZAR		South African Rand


Cost basis of investments	$	750,988,560

Gross unrealized appreciation		8,576,192
Gross unrealized depreciation		(142,604,812	)

Net unrealized appreciation (depreciation)	$	(134,028,620	)


	Value		% of Total Investments
US Dollar	$	441,854,507		71.6	%
European Monetary Unit		37,874,972		6.1	%
British Pound Sterling		22,436,175		3.6	%
Hong Kong Dollar		21,169,622		3.4	%
Japanese Yen		16,650,608		2.7	%
New Taiwan Dollar		15,649,554		2.5	%
Canadian Dollar		15,175,589		2.5	%
Swiss Franc		7,993,857		1.3	%
Indian Rupee		6,879,971		1.1	%
Singapore Dollar		5,388,794		0.9	%
Australian Dollar		5,388,415		0.9	%
Chinese Yuan Renminbi		3,970,464		0.6	%
South Korean Won		3,676,410		0.6	%
Norwegian Krone		3,531,250		0.6	%
Thai Baht		2,028,841		0.3	%
Indonesian Rupiah		1,705,163		0.3	%
Saudi Riyal		1,621,194		0.3	%
UAE Dirham		1,196,725		0.2	%
Brazilian Real		928,298		0.2	%
South African Rand		702,726		0.1	%
Mexican Peso		599,238		0.1	%
Philippine Peso		451,071		0.1	%
Danish Krone		65,242		0.0	%
Swedish Krona		21,254		0.0	%

Total Investments	$	616,959,940		100.0	%

Currency exposure may vary over time.


	Term
Series	Redemption Date	Dividend Rate			Shares (000’s)		Liquidation Preference Per Share		Aggregate Liquidation Preference
Series A*	9/06/22		3.70	%		860	$	25	$	21,500,000
Series B	9/06/24		4.00	%		860	$	25	$	21,500,000
Series C	9/06/27		4.24	%		880	$	25	$	22,000,000
Series D	8/24/26		2.45	%		200	$	25	$	5,000,000
Series E	5/24/27		2.68	%		860	$	25	$	21,500,000

								Total	$	91,500,000