| Name | CUSIP or other identifier | Weight | Shares |
| UNITED STATES TREAS BDS 5.25% 11/15/2028 | 912810FF0 | 6.36% | 20,355,000 |
| UNITED STATES TREAS BDS 6.25% 05/15/2030 | 912810FM5 | 3.09% | 8,995,000 |
| UNITED STATES TREAS BDS 5.5% 08/15/2028 | 912810FE3 | 3.00% | 9,545,000 |
| UNITED STATES TREAS BDS 6.125% 11/15/2027 | 912810FB9 | 2.66% | 8,375,000 |
| UNITED STATES TREAS BDS 5.375% 02/15/2031 | 912810FP8 | 2.39% | 7,220,000 |
| UNITED STATES TREAS NTS 3.125% 11/15/2028 | 9128285M8 | 2.31% | 8,370,000 |
| FNMA TBA 30YR TBA 3% AUG 3% 08/15/2042 | 01F030686 | 2.12% | 8,400,000 |
| FNCL 2.5 8/20 2.5% 08/15/2050 | 01F022683 | 2.00% | 8,000,000 |
| UNITED STATES TREAS NTS 2.875% 05/15/2028 | 9128284N7 | 1.95% | 7,195,000 |
| UNITED STATES TREAS NTS 2.875% 08/15/2028 | 9128284V9 | 1.89% | 6,965,000 |
| UNITED STATES TREAS NTS 2.625% 02/15/2029 | 9128286B1 | 1.82% | 6,800,000 |
| UNITED STATES TREAS NTS 2.375% 05/15/2029 | 9128286T2 | 1.70% | 6,450,000 |
| UNITED STATES TREAS NTS 2.75% 02/15/2028 | 9128283W8 | 1.67% | 6,220,000 |
| UNITED STATES TREAS BDS 6% 02/15/2026 | 912810EW4 | 1.52% | 5,080,000 |
| UNITED STATES TREAS NTS 2.25% 11/15/2027 | 9128283F5 | 1.45% | 5,570,000 |
| FNMA TBA 30 YR 3.5 3.5% 08/15/2040 | 01F032682 | 1.28% | 5,000,000 |
| UNITED STATES TREAS NTS 1.25% 03/31/2028 | 91282CBS9 | 1.13% | 4,600,000 |
| UNITED STATES TREAS NTS 2.25% 08/15/2027 | 9128282R0 | 1.07% | 4,115,000 |
| UNITED STATES TREAS NTS 1.125% 02/29/2028 | 91282CBP5 | 1.00% | 4,130,000 |
| UNITED STATES TREAS NTS 1.5% 02/15/2030 | 912828Z94 | 0.99% | 4,000,000 |
| UNITED STATES TREAS NTS 1.625% 08/15/2029 | 912828YB0 | 0.95% | 3,800,000 |
| UNITED STATES TREAS BDS 3.875% 04/15/2029 | 912810FH6 | 0.90% | 2,609,818 |
| UNITED STATES TREAS NTS 0.75% 01/31/2028 | 91282CBJ9 | 0.89% | 3,765,000 |
| UNITED STATES TREAS NTS 1.75% 11/15/2029 | 912828YS3 | 0.88% | 3,480,000 |
| TSY INFL IX N/B 0.125% 01/15/2030 | 912828Z37 | 0.88% | 3,272,383 |
| UNITED STATES TREAS BDS 3.625% 04/15/2028 | 912810FD5 | 0.88% | 2,660,944 |
| US TSY INFL IX N/B 2.5% 1/15/2029 2.5% 01/15/2029 | 912810PZ5 | 0.86% | 2,718,706 |
| UNITED STATES TREAS NTS 0.625% 12/31/2027 | 91282CBB6 | 0.84% | 3,580,000 |
| TSY INFL IX N/B 0.125% 07/15/2030 | 912828ZZ6 | 0.84% | 3,079,196 |
| UNITED STATES TREAS NTS 2.375% 05/15/2027 | 912828X88 | 0.82% | 3,140,000 |
| TSY INFL IX N/B 0.875% 01/15/2029 | 9128285W6 | 0.82% | 2,892,262 |
| UNITED STATES TREAS BDS 1.75% 01/15/2028 | 912810PV4 | 0.80% | 2,715,596 |
| TSY INFL IX N/B 0.25% 07/15/2029 | 9128287D6 | 0.78% | 2,870,813 |
| UNITED STATES TREAS NTS 0.625% 11/30/2027 | 91282CAY7 | 0.76% | 3,230,000 |
| TSY INFL IX N/B 0.5% 01/15/2028 | 9128283R9 | 0.76% | 2,764,417 |
| UNITED STATES TREAS NTS 0.5% 10/31/2027 | 91282CAU5 | 0.74% | 3,175,000 |
| Cash & Other | Cash&Other | 0.72% | 2,977,280 |
| TSY INFL IX N/B 0.75% 07/15/2028 | 912828Y38 | 0.68% | 2,416,435 |
| UNITED STATES TREAS BDS TIPS 02/15/40 2.125% 02/15/2040 | 912810QF8 | 0.61% | 1,648,975 |
| UNITED STATES TREAS BDS TIPS 2.125% 41 2.125% 02/15/2041 | 912810QP6 | 0.58% | 1,559,953 |
| UNITED STATES TREAS BDS 2.375% 01/15/2027 | 912810PS1 | 0.57% | 1,920,729 |
| UNITED STATES TREAS NTS 0.625% 05/15/2030 | 912828ZQ6 | 0.55% | 2,410,000 |
| UNITED STATES TREAS NTS 0.375% 09/30/2027 | 91282CAL5 | 0.55% | 2,370,000 |
| UNITED STATES TREAS NTS 0.5% 08/31/2027 | 91282CAH4 | 0.54% | 2,290,000 |
| GNMA TBA 30YR TBA 3% AUG 3% 08/15/2042 | 01N030687 | 0.54% | 2,150,000 |
| TSY INFL IX N/B 0.375% 07/15/2027 | 9128282L3 | 0.54% | 1,962,821 |
| TSY INFL IX N/B 0.375% 01/15/2027 | 912828V49 | 0.50% | 1,842,925 |
| TSY INFL IX N/B 0.125% 01/15/2031 | 91282CBF7 | 0.50% | 1,839,291 |
| G2SF 2.5 8/20 2.5% 08/15/2050 | 21H022689 | 0.49% | 1,975,000 |
| GNSF 2.5 8/20 2.5% 08/15/2050 | 01N022684 | 0.49% | 1,960,000 |
| UNITED STATES TREAS BDS 2% 01/15/2026 | 912810FS2 | 0.49% | 1,721,180 |
| UNITED STATES TREAS NTS 0.625% 08/15/2030 | 91282CAE1 | 0.47% | 2,055,000 |
| GNMAII JUMBO TBA 30YR TBA 3% AUG 3% 08/15/2042 | 21H030682 | 0.47% | 1,855,000 |
| UNITED STATES TREAS NTS 0.875% 11/15/2030 | 91282CAV3 | 0.46% | 1,985,000 |
| UNITED STATES TREAS NTS 0.375% 07/31/2027 | 91282CAD3 | 0.44% | 1,890,000 |
| UNITED STATES TREAS NTS 2.25% 02/15/2027 | 912828V98 | 0.44% | 1,695,000 |
| UNITED STATES TREAS NTS 0.125% 07/15/2026 | 912828S50 | 0.41% | 1,548,608 |
| GNMA TBA 30YR TBA 3.50% AUG 3.5% 08/15/2042 | 01N032683 | 0.40% | 1,600,000 |
| G2SF 3.5 8/14 3.5% 08/15/2043 | 21H032688 | 0.40% | 1,600,000 |
| GNMA TBA 30YR TBA 4% AUG 4% 08/15/2040 | 01N040686 | 0.39% | 1,500,000 |
| FNMA TBA 30YR 4% AUG 4% 08/15/2040 | 01F040685 | 0.39% | 1,500,000 |
| FNMA TBA 30YR TBA 4.50% AUG 4.5% 08/15/2040 | 01F042681 | 0.39% | 1,500,000 |
| TSY INFL IX N/B 0.625% 01/15/2026 | 912828N71 | 0.39% | 1,449,024 |
| GNMAII JUMBO TBA 30YR TBA 4% AUG 4% 08/15/2042 | 21H040681 | 0.38% | 1,510,000 |
| UNITED STATES TREAS BDS TIPS .75% 02/15/42 0.75% 02/15/2042 | 912810QV3 | 0.35% | 1,160,659 |
| ALLSTATE CORP 6.5% 05/15/2067 | 020002AU5 | 0.34% | 1,055,000 |
| LEGG MASON INC 5.625% 01/15/2044 | 524901AR6 | 0.34% | 1,000,000 |
| EXPEDIA GROUP INC 3.25% 02/15/2030 | 30212PAR6 | 0.33% | 1,300,000 |
| KRAFT HEINZ FOODS CO 6.5% 02/09/2040 | 50076QAN6 | 0.33% | 950,000 |
| CIMAREX ENERGY CO 3.9% 05/15/2027 | 171798AD3 | 0.32% | 1,200,000 |
| ALTRIA GROUP INC 5.375% 01/31/2044 | 02209SAR4 | 0.32% | 1,100,000 |
| SIMON PPTY GROUP LP 6.75% 02/01/2040 | 828807CE5 | 0.32% | 865,000 |
| MPT OPER PTSHP LP/MPT FIN CORP SR GLBL NT 5% 27 5% 10/15/2027 | 55342UAH7 | 0.31% | 1,210,000 |
| STANLEY BLACK & DECKER INC 4% 03/15/2060 | 854502AM3 | 0.31% | 1,195,000 |
| NEWFIELD EXPL CO 5.375% 01/01/2026 | 651290AR9 | 0.31% | 1,150,000 |
| KIRBY CORP 4.2% 03/01/2028 | 497266AC0 | 0.31% | 1,140,000 |
| OMEGA HEALTHCARE INVS INC 5.25% 01/15/2026 | 681936BH2 | 0.31% | 1,125,000 |
| BNSF FUNDING TRUST 1 6.613% 12/15/2055 | 05567SAA0 | 0.31% | 1,120,000 |
| NATIONAL FUEL GAS CO 5.5% 01/15/2026 | 636180BQ3 | 0.31% | 1,115,000 |
| AMERICAN EQTY INVT LIFE HLD CO CR SEN SR GLBL27 5% 06/15/2027 | 025676AM9 | 0.31% | 1,115,000 |
| HOLLYFRONTIER CORP 5.875% 04/01/2026 | 436106AA6 | 0.31% | 1,100,000 |
| MAGELLAN MIDSTREAM PRTNRS LP SR NT 5.15% 43 5.15% 10/15/2043 | 559080AG1 | 0.31% | 1,035,000 |
| HESS CORP 6% 01/15/2040 | 42809HAC1 | 0.31% | 1,005,000 |
| ATHENE HOLDING LTD 6.15% 04/03/2030 | 04686JAB7 | 0.31% | 1,000,000 |
| HASBRO INC 6.35% 03/15/2040 | 418056AS6 | 0.31% | 910,000 |
| KINDER MORGAN ENERGY PARTNERS SR GLBL NT 38 6.95% 01/15/2038 | 494550AW6 | 0.31% | 885,000 |
| LINCOLN NATL CORP IND 7% 06/15/2040 | 534187BA6 | 0.31% | 820,000 |
| UNITED STATES TREAS NTS 0.5% 06/30/2027 | 912828ZV5 | 0.30% | 1,275,000 |
| NOV INC 3.95% 12/01/2042 | 637071AK7 | 0.30% | 1,250,000 |
| PERRIGO FINANCE UNLIMITED COMP CR SEN SR GLBL30 3.15% 06/15/2030 | 71429MAC9 | 0.30% | 1,200,000 |
| FLOWSERVE CORP 3.5% 10/01/2030 | 34354PAF2 | 0.30% | 1,185,000 |
| HOST HOTELS & RESORTS LP 3.375% 12/15/2029 | 44107TAY2 | 0.30% | 1,180,000 |
| PARTNERRE FINANCE B LLC 4.5% 10/01/2050 | 70213BAC5 | 0.30% | 1,175,000 |
| DIAMONDBACK ENERGY INC 3.5% 12/01/2029 | 25278XAN9 | 0.30% | 1,170,000 |
| SOUTHERN CO 4% 01/15/2051 | 842587DF1 | 0.30% | 1,170,000 |
| OFFICE PPTYS INCOME TR 4.5% 02/01/2025 | 81618TAC4 | 0.30% | 1,150,000 |
| BRIGHTHOUSE FINL INC 4.7% 06/22/2047 | 10922NAF0 | 0.30% | 1,100,000 |
| BRIXMOR OPERATING PRTSHP LP 4.05% 07/01/2030 | 11120VAJ2 | 0.30% | 1,100,000 |
| JABIL INC 3.95% 01/12/2028 | 466313AH6 | 0.30% | 1,100,000 |
| VIACOM INC 6.25% 02/28/2057 | 92553PBC5 | 0.30% | 1,095,000 |
| AIR LEASE CORP 4.625% 10/01/2028 | 00912XBF0 | 0.30% | 1,085,000 |
| SABRA HLTH CARE LP/SABRA CAP C SR GLBL NT 26 5.125% 08/15/2026 | 14162VAB2 | 0.30% | 1,080,000 |
| HUDSON PAC PPTYS L P 4.65% 04/01/2029 | 44409MAB2 | 0.30% | 1,075,000 |
| UNITED STATES TREAS BDS 2.375% 01/15/2025 | 912810FR4 | 0.30% | 1,070,265 |
| OWENS CORNING NEW 4.3% 07/15/2047 | 690742AG6 | 0.30% | 1,065,000 |
| WESTINGHOUSE AIR BRAKE TECHNOL 4.7% 28 4.95% 09/15/2028 | 960386AM2 | 0.30% | 1,050,000 |
| BROADCOM INC 5% 04/15/2030 | 11135FBD2 | 0.30% | 1,040,000 |
| GLP CAP LP/GLP FING II INC 5.75% 06/01/2028 | 361841AK5 | 0.30% | 1,025,000 |
| VULCAN MATLS CO 4.5% 06/15/2047 | 929160AV1 | 0.30% | 1,005,000 |
| MOLSON COORS BEVERAGE CO 5% 05/01/2042 | 60871RAD2 | 0.30% | 1,000,000 |
| FEDEX CORP 5.1% 01/15/2044 | 31428XAW6 | 0.30% | 950,000 |
| HEWLETT PACKARD CO 6% 09/15/2041 | 428236BR3 | 0.30% | 945,000 |
| SONOCO PRODS CO 5.75% 11/01/2040 | 835495AJ1 | 0.30% | 920,000 |
| BOEING CO 6.875% 03/15/2039 | 097023AX3 | 0.30% | 880,000 |
| REGIONS BK ALA MTN FDIC TLGP NT 6.45% 37 6.45% 06/26/2037 | 75913MAA7 | 0.30% | 858,000 |
| CHARTER COMMUNICATIONS OPER 6.834% 10/23/2055 | 161175BC7 | 0.30% | 830,000 |
| METLIFE INC 10.75% 08/01/2069 | 59156RAV0 | 0.30% | 735,000 |
| DOW CHEM CO 9.4% 05/15/2039 | 260543BY8 | 0.30% | 690,000 |
| ENTERPRISE PRODS OPER LLC 5.375% 02/15/2078 | 29379VBR3 | 0.29% | 1,185,000 |
| VOYA FINANCIAL INC 5.65% 05/15/2053 | 45685EAG1 | 0.29% | 1,155,000 |
| DISCOVER BK 4.682% 08/09/2028 | 25466AAN1 | 0.29% | 1,150,000 |
| UNITED RENTALS NORTH AMER INC SR SEC GLBL NT27 3.875% 11/15/2027 | 911365BM5 | 0.29% | 1,140,000 |
| BLACKSTONE SECD LENDING FD 3.625% 01/15/2026 | 09261LAC2 | 0.29% | 1,130,000 |
| CENTENE CORP DEL 4.25% 12/15/2027 | 15135BAR2 | 0.29% | 1,120,000 |
| DOMINION ENERGY INC 5.75% 10/01/2054 | 25746UBY4 | 0.29% | 1,110,000 |
| EDISON INTL 4.125% 03/15/2028 | 281020AM9 | 0.29% | 1,100,000 |
| MOHAWK INDS INC 3.625% 05/15/2030 | 608190AL8 | 0.29% | 1,095,000 |
| SYNCHRONY FINANCIAL 3.7% 08/04/2026 | 87165BAL7 | 0.29% | 1,095,000 |
| CMS ENERGY CORP 4.75% 06/01/2050 | 125896BU3 | 0.29% | 1,090,000 |
| DARDEN RESTAURANTS INC 3.85% 05/01/2027 | 237194AL9 | 0.29% | 1,080,000 |
| NEXTERA ENERGY CAP HLDGS INC JR SB GLBL -M 77 4.8% 12/01/2077 | 65339KAV2 | 0.29% | 1,075,000 |
| LEAR CORP 3.8% 09/15/2027 | 521865AY1 | 0.29% | 1,070,000 |
| MARRIOTT INTL INC NEW 4.625% 06/15/2030 | 571903BE2 | 0.29% | 1,055,000 |
| ENSTAR GROUP LTD 4.95% 06/01/2029 | 29359UAB5 | 0.29% | 1,050,000 |
| MICRON TECHNOLOGY INC 5.327% 02/06/2029 | 595112BN2 | 0.29% | 980,000 |
| EXELON GENERATION CO LLC 6.25% 10/01/2039 | 30161MAG8 | 0.29% | 950,000 |
| AT&T INC 5.55% 08/15/2041 | 00206RBA9 | 0.29% | 900,000 |
| ENERGY TRANSFER L P 7.5% 07/01/2038 | 29273RAJ8 | 0.29% | 850,000 |
| ALLY FINL INC 8% 11/01/2031 | 36186CBY8 | 0.29% | 840,000 |
| FIFTH THIRD BANCORP 8.25% 03/01/2038 | 316773CH1 | 0.29% | 705,000 |
| ARES CAPITAL CORP 2.15% 07/15/2026 | 04010LBA0 | 0.28% | 1,170,000 |
| TSY INFL IX N/B 0.125% 04/15/2025 | 912828ZJ2 | 0.28% | 1,083,024 |
| CARDINAL HEALTH INC 4.368% 06/15/2047 | 14149YBM9 | 0.28% | 1,000,000 |
| PRUDENTIAL FINL INC 5.7% 09/15/2048 | 744320BF8 | 0.28% | 1,000,000 |
| MARKEL CORP 5% 04/05/2046 | 570535AQ7 | 0.28% | 900,000 |
| MARATHON OIL CORP 6.6% 10/01/2037 | 565849AE6 | 0.28% | 880,000 |
| WILLIAMS PARTNERS L.P. 6.3% 04/15/2040 | 96950FAF1 | 0.28% | 850,000 |
| HALLIBURTON CO 7.45% 09/15/2039 | 406216AY7 | 0.28% | 800,000 |
| TSY INFL IX N/B 0.125% 10/15/2025 | 91282CAQ4 | 0.27% | 1,036,680 |
| DISCOVERY COMMUNICATIONS LLC SR NT 6.35% 40 6.35% 06/01/2040 | 25470DAD1 | 0.27% | 800,000 |
| DEVON FING CORP U L C 7.875% 09/30/2031 | 25179SAD2 | 0.27% | 800,000 |
| UNITED STATES TREAS BDS TIPS 02/15/40 1.375% 02/15/2044 | 912810RF7 | 0.27% | 796,370 |
| UNITED STATES TREAS NTS 0.5% 05/31/2027 | 912828ZS2 | 0.26% | 1,085,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -B BD 38 6.15% 01/15/2038 | 880591CP5 | 0.25% | 660,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -G BD 30 7.125% 05/01/2030 | 880591DM1 | 0.24% | 675,000 |
| ONEOK PARTNERS LP 6.65% 10/01/2036 | 68268NAC7 | 0.23% | 700,000 |
| TSY INFL IX N/B 0.625% 02/15/2043 | 912810RA8 | 0.21% | 719,525 |
| TSY INFL IX N/B 0.375% 07/15/2025 | 912828XL9 | 0.20% | 759,967 |
| UNITED STATES TREAS NTS 0.25% 01/15/2025 | 912828H45 | 0.19% | 726,828 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL BD 36 5.88% 04/01/2036 | 880591CS9 | 0.19% | 510,000 |
| FEDERAL NATL MTG ASSN 7.25% 05/15/2030 | 31359MFP3 | 0.17% | 480,000 |
| FEDERAL NATL MTG ASSN 7.125% 01/15/2030 | 31359MFJ7 | 0.17% | 470,000 |
| UNITED STATES TREAS NTS 0.5% 04/30/2027 | 912828ZN3 | 0.16% | 660,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -A BD 27 2.875% 02/01/2027 | 880591EU2 | 0.14% | 535,000 |
| FEDERAL NATL MTG ASSN 6.625% 11/15/2030 | 31359MGK3 | 0.14% | 390,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -C BD 39 5.25% 09/15/2039 | 880591EH1 | 0.13% | 385,000 |
| FEDERAL HOME LN MTG CORP 6.75% 03/15/2031 | 3134A4AA2 | 0.13% | 370,000 |
| UNITED STATES TREAS NTS 1.5% 01/31/2027 | 912828Z78 | 0.12% | 480,000 |
| WI TREASURY SEC 0.5% 04/15/2024 | 9128286N5 | 0.12% | 447,942 |
| FEDERAL NATL MTG ASSN 6.25% 05/15/2029 | 31359MEU3 | 0.12% | 350,000 |
| TSY INFL IX N/B 0.625% 04/15/2023 | 9128284H0 | 0.11% | 433,168 |
| TI 0 1/8 01/15/23 0.125% 01/15/2023 | 912828UH1 | 0.11% | 431,179 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -E BD 25 6.75% 11/01/2025 | 880591CJ9 | 0.11% | 370,000 |
| CORNING INC 5.45% 11/15/2079 | 219350BQ7 | 0.10% | 275,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -A BD 25 0.75% 05/15/2025 | 880591EW8 | 0.08% | 340,000 |
| UNITED STATES TREAS NTS 2% 11/15/2026 | 912828U24 | 0.08% | 300,000 |
| FEDERAL HOME LN MTG CORP 6.75% 09/15/2029 | 3134A3U46 | 0.08% | 225,000 |
| FEDERAL HOME LOAN BANKS 3.25% 06/09/2028 | 3130AEB25 | 0.07% | 270,000 |
| ONEOK PARTNERS LP 6.85% 10/15/2037 | 68268NAD5 | 0.07% | 210,000 |
| FEDERAL NATL MTG ASSN 0.75% 10/08/2027 | 3135G05Y5 | 0.06% | 250,000 |
| UNITED STATES TREAS NTS 1.125% 02/28/2027 | 912828ZB9 | 0.06% | 250,000 |
| TENNESSEE VALLEY AUTH FED BE SR GLBL -A BD 24 2.875% 09/15/2024 | 880591ER9 | 0.06% | 240,000 |
| FEDERAL HOME LOAN BANKS 3.25% 11/16/2028 | 3130AFFX0 | 0.06% | 200,000 |
| MARTIN MARIETTA MATLS INC 4.25% 12/15/2047 | 573284AU0 | 0.06% | 195,000 |
| FEDERAL HOME LOAN BANKS 1.875% 12/09/2022 | 313381BR5 | 0.05% | 200,000 |
| TSY INFL IX N/B 0.125% 10/15/2024 | 912828YL8 | 0.05% | 188,715 |
| FEDERAL HOME LN MTG CORP 6.25% 07/15/2032 | 3134A4KX1 | 0.05% | 150,000 |
| FEDERAL HOME LOAN BANKS 5.5% 07/15/2036 | 3133XGAY0 | 0.05% | 150,000 |
| FEDERAL NATL MTG ASSN 2.375% 01/19/2023 | 3135G0T94 | 0.04% | 170,000 |
| FEDERAL NATL MTG ASSN 2% 10/05/2022 | 3135G0T78 | 0.04% | 165,000 |
| FEDERAL HOME LOAN BANKS 2% 09/09/2022 | 313380GJ0 | 0.04% | 150,000 |
| FEDERAL HOME LOAN BANKS 2.125% 03/10/2023 | 313382AX1 | 0.04% | 150,000 |
| FEDERAL NATL MTG ASSN 2.125% 04/24/2026 | 3135G0K36 | 0.04% | 150,000 |
| TSY INFL IX N/B 0 3/4 02/15/45 0.75% 02/15/2045 | 912810RL4 | 0.04% | 142,786 |
| FEDERAL NATL MTG ASSN 1.375% 09/06/2022 | 3135G0W33 | 0.03% | 130,000 |
| FEDERAL HOME LN MTG CORP 2.75% 06/19/2023 | 3137EAEN5 | 0.03% | 115,000 |
| FEDERAL HOME LOAN BANKS 2.125% 06/09/2023 | 3133834G3 | 0.03% | 115,000 |
| FEDERAL HOME LN MTG CORP 0.375% 05/05/2023 | 3137EAER6 | 0.03% | 110,000 |
| HCA INC. 5.5% 06/15/2047 | 404119BV0 | 0.03% | 100,000 |
| FEDERAL NATL MTG ASSN 1.875% 09/24/2026 | 3135G0Q22 | 0.03% | 100,000 |
| FEDERAL HOME LOAN BANKS 1.375% 02/17/2023 | 3130AJ7E3 | 0.02% | 100,000 |
| FEDERAL HOME LOAN BANKS 3.375% 12/08/2023 | 3130A0F70 | 0.02% | 95,000 |
| FEDERAL NATL MTG ASSN 0.25% 07/10/2023 | 3135G05G4 | 0.02% | 80,000 |
| FEDERAL HOME LN MTG CORP 0.375% 04/20/2023 | 3137EAEQ8 | 0.02% | 75,000 |
| FEDERAL NATL MTG ASSN 0.25% 05/22/2023 | 3135G04Q3 | 0.02% | 65,000 |
| FEDERAL HOME LOAN BANKS 3.375% 09/08/2023 | 313383YJ4 | 0.02% | 60,000 |
| FEDERAL HOME LN MTG CORP 0.25% 06/26/2023 | 3137EAES4 | 0.01% | 55,000 |
| FEDERAL NATL MTG ASSN 2.875% 09/12/2023 | 3135G0U43 | 0.01% | 50,000 |
| FEDERAL HOME LOAN BANKS 2.875% 06/14/2024 | 3130A1XJ2 | 0.01% | 50,000 |
| FEDERAL HOME LOAN BANKS 2.875% 09/13/2024 | 3130A2UW4 | 0.01% | 50,000 |
| FEDERAL HOME LOAN BANKS 2.75% 12/13/2024 | 3130A3GE8 | 0.01% | 50,000 |
| FEDERAL NATL MTG ASSN 1.75% 07/02/2024 | 3135G0V75 | 0.01% | 50,000 |
| FEDERAL NATL MTG ASSN 1.625% 10/15/2024 | 3135G0W66 | 0.01% | 50,000 |
| FEDERAL HOME LN MTG CORP 1.5% 02/12/2025 | 3137EAEP0 | 0.01% | 50,000 |
| FEDERAL NATL MTG ASSN 1.625% 01/07/2025 | 3135G0X24 | 0.01% | 50,000 |
| FEDERAL NATL MTG ASSN 2.625% 09/06/2024 | 3135G0ZR7 | 0.01% | 50,000 |
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. To obtain a prospectus download one here or call 800-617-0004. Please read it carefully before investing.
Investing involves risk, including the risk of loss of principal. VBND has the same risks as the underlying securities traded on the exchange throughout the day at market price. Redemptions are limited and often commissions are charged on each trade. VBND may invest in illiquid or thinly traded securities which involve additional risks such as limited liquidity and greater volatility. VBND may make investments in debt securities. The Fund’s investments in high yield securities expose it to a substantial degree of credit risk. These investments are considered speculative under traditional investment standards. Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. An increase in interest rates may cause the value of fixed-income securities held by the Fund to decline. During periods of rising interest rates, certain debt obligations will be paid off substantially more slowly than originally anticipated and the value of those securities may fall sharply, resulting in a decline in the Fund’s income and potentially in the value of the Fund’s investments. VBND may also invest in asset backed and mortgage backed securities which include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund invests in the securities included in, or representative of its Index regardless of their investment merits. The performance of the Fund may diverge from the Index. Because the Fund employs a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, the Fund may experience a tracking error to a greater extent than a fund that seeks to replicate an index. The Fund is not actively managed and its performance may be adversely affected by a general decline in the market segments relating to its Index.
The fund’s investment advisor is Vident Advisory, LLC. VBND's sub-adviser is Vident Investment Advisory (VIA). Vident Financial owns the index that underlies the fund. The Vident Core U.S. Bond Strategy ETF is distributed by ALPS Distributors, LLC. ALPS is not affiliated with Vident Financial, Vident Advisory or VIA.
Investor shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Ordinary brokerage commissions may apply.
Diversification does not ensure a profit or protect against a loss.