UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 811-02201

Insight Select Income Fund
(Exact name of registrant as specified in charter)

200 Park Avenue, 7^th Floor
New York, NY 10166
(Address of principal executive offices) (Zip code)

David C. Leduc
200 Park Avenue, 7^th Floor
New York, NY 10166
(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-527-1800

Date of fiscal year end: March 31

Date of reporting period: March 31, 2024

Item 1. Reports to Stockholders.

(a)

The Report to Shareholders is attached herewith.

Online:

Visit www.computershare.com/investor to log into your account and select “Communication Preferences” to set your preference.

Telephone:

Contact the Fund at 866-333-6685

Overnight Mail:

Computershare Investor Services, 462 South 4th Street, Suite 1600, Louisville, KY, 40202

Regular Mail:

Computershare Investor Services, PO Box 505000, Louisville, KY, 40233-5000

For the one-year Period Ended 03/31/24

April 12, 2024

DEAR SHAREHOLDERS:

The 12-month fiscal period under review was marked by cooling inflation, robust growth, the end of the rate hiking cycle by the Federal Reserve (the “Fed”) in July and a “Fed pivot” in December when it projected significant rate cutting activity would begin in calendar 2024.

Economic growth remained robust. US gross domestic product (“GDP”) came in at 2.1% in the calendar second quarter of 2023, 4.9% in the calendar third quarter and 3.4% in the calendar fourth quarter, with consumption and business development the “leading lights”.

During the period under review, the consumer price index (“CPI”) fell from 5% to 3.5% year-on-year and core CPI from 5.6% to 3.8%. Energy prices normalized, core goods prices eased and although the “stickier” core services prices (such as shelter) remained elevated, they showed signs of decelerating. The Fed’s preferred inflation measure, personal consumption expenditures (“PCE”), fared better falling 4.4% to 2.5% with core PCE falling from 5.5% to 2.8%.

The labor market also remained robust during the review period but showed some signs of loosening. The economy added close to three million jobs during the period, albeit this was a slower run rate than the previous two fiscal years. The unemployment rate started the period at 3.5% and ended at 3.8% and the ratio of job openings to unemployed fell from 1.6 to 1.4. Wage growth moderated from 4.6% to 4.1%.

The Federal Reserve continued to raise rates early in the review period, taking the upper bound of the Fed Funds rate to a peak of 5.5% in July. Initially the Fed remained hawkish, continuing to project an additional rate hike before the end of 2023 and market pricing reflected “higher for longer” rate expectations during the fall of 2023.

However, things abruptly changed at the end of the calendar year. The Federal Reserve delivered a “pivot” in December that helped drive market optimism. For the first time since the hiking cycle began, it adjusted its “dot plot” to reflect a more dovish set of projections than the previous quarter. The committee penciled in three cuts for calendar year 2024.

Markets responded by aggressively pricing up to six rate cuts for 2024, although these expectations moderated into the calendar first quarter of 2024 with the markets repricing to levels that more closely align with the Fed’s own projections.

Elsewhere, at the start of the review period, global financial stability concerns dissipated following high profile bank failures and rescues in the previous period. Nonetheless, in April 2023, First Republic became the second largest bank failure since 2008 (after Silicon Valley Bank in March 2023) after the Federal Deposit Insurance Company (“FDIC”) put the bank into receivership (enforcing losses on bondholders) and sold the bulk of its assets to JPMorgan Chase. We have since seen New York Community Bancorp purchased by an investor group after encountering similar problems, however the fears of failing banks have since waned.

Political risk also remained. The debt ceiling was suspended during the summer after a Congressional stand-off, and Congress also avoided a full government shutdown toward the end of calendar year 2023. Currently minimal risks associated with a potential US elections upheaval appear to be priced into the market.

Geopolitical risks from the ongoing Ukraine/Russian war and Israeli/Hamas war as well as potential escalations with Iran continue to pressure the rates market as such risks are viewed as reversing the downward inflation path.

US Treasury yields rose by up to 75 basis points (“bp”) across the curve during the [review] period, despite a rally into calendar year-end 2023. However, option-adjusted (“OAS”) credit spreads on the Bloomberg US Aggregate Corporate Index narrowed by almost 50bp, the tightest levels since 2021, before the hiking cycle. This helped the index deliver an excess return of 5.1%. Lower-rated debt performed even better with the Bloomberg US High Yield Corporate Index OAS narrowing close to 160bp. The recovering financial sector outperformed on a sector basis, but strength was otherwise broad-based.

As of March 31, 2024, the Insight Select Income Fund (the “Fund”) had a net asset value (NAV) of $17.66 per share. This represents a 0.80% increase from $17.52 per share on March 31, 2023. On March 31, 2024, the Fund’s closing price on the New York Stock Exchange was $16.49 per share, representing a 6.63% discount to NAV per share, compared with a 9.36% discount as of March 31, 2023. One of the primary objectives of the Fund is to maintain a high level of income. On March 15, 2024, the Fund’s Board of Trustees declared a distribution of $0.20 per share payable on April 15, 2024 to shareholders of record on April 3, 2024. On an annualized basis, including the pending distribution, the annual distribution from ordinary income equates to a total of $0.80 per share, representing a 5.00% dividend yield based on the market price on April 16, 2024 of $16.00 per share. The Fund’s Board of Trustees evaluates the distribution on a quarterly basis and is based on the income generation capability of the portfolio and is not guaranteed for any period of time.

Yield represents the major component of return in most fixed income portfolios. Given this Fund’s emphasis on income and the dividend, we generally will not have material exposure to low-yielding US Treasuries and will maintain meaningful exposure to corporate bonds. When it comes to management of credit risk, we try to look through periods of volatility to focus on an investment’s long-term creditworthiness to assess whether it should provide an attractive yield to the Fund over time.

The Fund’s performance will continue to be subject to trends in long-term interest rates and to corporate yield spreads. Consistent with our investment discipline, we continue to emphasize diversification and risk management within the bounds of income stability. The pie chart below summarizes the portfolio quality of the Fund’s assets as of March 31, 2024:

Percent of Total Investment (Lower of S&P and Moody’s Ratings)¹

For financial reporting purposes, credit quality ratings shown above reflect the lowest rating assigned by either Standard & Poor’s (“S&P”) or Moody’s Investors Service (“Moody’s”) if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated NR are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings and the Fund’s allocation to the ratings categories are subject to change at any time without notice. The pie chart above does not include the Fund’s derivative instruments.

We would like to remind shareholders of the opportunities presented by the Fund’s dividend reinvestment plan referred to in the Shareholder Information section of this report. The dividend reinvestment plan affords shareholders a price advantage by allowing them to purchase additional shares at NAV or market price, whichever is lower. This means that the reinvestment price is at market price when the Fund is trading at a discount to NAV, as is currently the situation, or at NAV per share when market trading is at a premium to that value. To participate in the plan, please contact Computershare Investor Services, the Fund’s Transfer Agent and Dividend Paying Agent, at 1-866-333-6685. The Fund’s investment adviser, Insight North America LLC, may be reached at 1-212-527-1800.

David C. Leduc

President

Mr. Leduc’s comments reflect the investment adviser’s views generally regarding the market and the economy and are compiled from the investment adviser’s research. These comments reflect opinions as of the date written and are subject to change at any time.

Opinions expressed herein are current opinions of Insight and are subject to change without notice. Insight assumes no responsibility to update such information or to notify a client of any changes. Any outlooks, forecasts or portfolio weightings presented herein are as of the date appearing on this material only and are also subject to change without notice. Insight disclaims any responsibility to update such views. No forecasts can be guaranteed.

Information herein may contain, include or is based upon forward-looking statements within the meaning of the federal securities laws, specifically Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements, other than statements of historical fact, that address future activities, events or developments, including without limitation, business or investment strategy or measures to implement strategy, competitive strengths, goals expansion and growth of our business, plans, prospects and references to future or success. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Words such as ‘anticipate,’ ‘estimate,’ ‘expect,’ ‘project,’ ‘intend,’ ‘plan,’ ‘believe,’ and other similar words are intended to identify these forward-looking statements. Forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results or outcomes. Consequently, no forward-looking statement can be guaranteed. Our actual results or outcomes may vary materially. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

Past performance is not a guide to future performance, which will vary. The value of investments and any income from them will fluctuate and is not guaranteed (this may partly be due to exchange rate changes). Future returns are not guaranteed and a loss of principal may occur.

The quoted benchmarks within this presentation do not reflect deductions for fees, expenses or taxes. These benchmarks are unmanaged and cannot be purchased directly by investors. Benchmark performance is shown for illustrative purposes only and does not predict or depict the performance of any investment. There may be material factors relevant to any such comparison such as differences in volatility, and regulatory and legal restrictions between the indices shown and the strategy.

INVESTMENT RESULTS

Total Return-Percentage Change (Annualized for periods longer than 1 year)

Per Share with All Distributions Reinvested¹

	6 Months to 3/31/24	1 Year to 3/31/24	3 Years to 3/31/24	5 Years to 3/31/24	10 Years to 3/31/24
Insight Select Income Fund (Based on Net Asset Value)	8.59%	5.93%	-1.12%	2.40%	3.45%
Insight Select Income Fund (Based on Market Value)	12.60%	9.12%	-2.10%	2.39%	3.60%
Bloomberg U.S. Credit Index²	7.71%	4.15%	-1.86%	1.39%	2.49%

−

Total investment return based on net asset value per share includes management fees and all other expenses paid by the Fund and reflects the effects of changes in net asset value on the performance of the Fund during each period, and assumes dividends and distributions, if any, were reinvested. Total investment return based on market value is calculated assuming a purchase of common shares at the market price on the first day and a sale at the market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of the calculations to be reinvested at prices obtained under the Fund’s dividend reinvestment plan. Total investment return does not reflect brokerage commissions. The total investment return, if for less than a full year, is not annualized. Past performance is not a guarantee of future results.

−

Source: Bloomberg as of March 31, 2024. Comprised primarily of US investment grade corporate bonds (Fund’s Benchmark).

Comparison of the Growth in Value of a $10,000 Investment in the Insight Select Income Fund and the Bloomberg U.S. Credit Index (Unaudited)

The performance quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 866-333-6685.

INVESTMENT RESULTS — continued

The Fund’s investment objectives, strategies, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund and may be obtained by calling 866-333-6685. Please read it carefully before investing.

Bloomberg U.S. Credit Index is a widely recognized unmanaged index of US investment grade corporate bonds and is representative of a broader bond market and range of securities than is found in the Fund’s portfolio. It is not possible to invest directly in an unmanaged index.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and

Board of Trustees

of Insight Select Income Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of Insight Select Income Fund (the “Fund”), including the schedule of investments, as of March 31, 2024, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of March 31, 2024, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We have served as the Fund’s auditor since 2003.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2024 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania

May 10, 2024

SCHEDULE OF INVESTMENTS

March 31, 2024

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (80.20%)
AEROSPACE/DEFENSE (1.16%)
BAE Systems PLC, Sr. Unsec. Notes, 5.500%, 03/26/54, 144A^(b)	Baa1/BBB+	$	200	$	202,077
Boeing Co., Sr. Unsec. Notes, 5.805%, 05/01/50^(b)	Baa2-/BBB-		463		439,702
Northrop Grumman Corp., Sr. Unsec. Notes, 7.750%, 06/01/29	Baa1/BBB+		500		547,049
Rolls-Royce PLC, Co. Gty., 5.750%, 10/15/27, 144A^(b)	Ba1/BBB-		369		369,946
RTX Corp., Sr. Unsec. Notes, 3.750%, 11/01/46^(b)	Baa1/BBB+		700		542,181
TransDigm, Inc., Sr. Sec. Notes, 6.750%, 08/15/28, 144A^(b)	Ba3/B+		90		91,296
					2,192,251
AGRICULTURE (0.85%)
Altria Group, Inc., Co. Gty., 5.950%, 02/14/49^(b)	A3/BBB		329		334,764
BAT Capital Corp., Co. Gty., 6.343%, 08/02/30^(b)	Baa2/BBB+		197		205,466
BAT Capital Corp., Co. Gty., 7.081%, 08/02/53^(b)	Baa2/BBB+		70		75,631
BAT International Finance PLC, Co. Gty., 1.668%, 03/25/26^(b)	Baa2/BBB+		425		395,709
Philip Morris International, Inc., Sr. Unsec. Notes, 5.625%, 11/17/29^(b)	A2/A-		90		92,742
Philip Morris International, Inc., Sr. Unsec. Notes, 2.100%, 05/01/30^(b)	A2/A-		580		493,035
					1,597,347
AIRLINES (3.33%)
Air Canada, Sr. Sec. Notes, 3.875%, 08/15/26, 144A^(b)	Ba1/BB+		246		234,976
Air Canada Pass Through Certs., Series 2020-2, Class A, 5.250%, 04/01/29, 144A	NA/A+		173		170,212
American Airlines Group, Inc. Pass Through Certs., Series 2017-1, Class AA, 3.650%, 02/15/29	A2/NA		730		689,223
American Airlines Group, Inc. Pass Through Certs., Series 2017-2, Class AA, 3.350%, 10/15/29	A2/NA		1,115		1,020,184
American Airlines Group, Inc. Pass Through Certs., Series 2019-1, Class AA, 3.150%, 02/15/32	A2/AA-		637		569,806
American Airlines, Inc., Sr. Sec. Notes, 5.500%, 04/20/26, 144A	Ba1/NA		265		263,649
American Airlines, Inc., Sr. Sec. Notes, 5.750%, 04/20/29, 144A	Ba1/NA		162		159,372
British Airways PLC Pass Through Certs., Series 2020-1, Class A, 4.250%, 11/15/32, 144A	NA/A		98		91,170
Delta Air Lines, Inc., Sr. Sec. Notes, 4.500%, 10/20/25, 144A	Baa1/NA		70		69,308
Delta Air Lines, Inc., Sr. Sec. Notes, 4.750%, 10/20/28, 144A	Baa1/NA		209		204,456
JetBlue Airways Corp. Pass Through Certs., Series 2020-1, Class A, 4.000%, 11/15/32	A3/NA		863		800,290
United Airlines, Inc., Sr. Sec. Notes, 4.375%, 04/15/26, 144A^(b)	Ba1/BB		65		62,871
United Airlines, Inc., Sr. Sec. Notes, 4.625%, 04/15/29, 144A^(b)	Ba1/BB		318		296,005
United Airlines, Inc. Pass Through Certs., Series 2018-1, Class B, 4.600%, 03/01/26	Ba1/NA		441		425,783
United Airlines, Inc. Pass Through Certs., Series 2019-1, Class AA, 4.150%, 08/25/31	Aa3/NA		332		310,293
United Airlines, Inc. Pass Through Certs., Series 2019-2, Class AA, 2.700%, 05/01/32	A1/NA		911		779,825
United Airlines, Inc. Pass Through Certs., Series 2020-1, Class A, 5.875%, 10/15/27	Aa3/A+		151		150,467
					6,297,890
AUTO MANUFACTURERS (2.37%)
Ford Holdings LLC, Co. Gty., 9.300%, 03/01/30	Ba1/BBB-		1,000		1,153,454
Ford Motor Credit Co. LLC, Sr. Unsec. Notes, 2.300%, 02/10/25^(b)	Ba1/BBB-		1,199		1,162,712
Ford Motor Credit Co. LLC, Sr. Unsec. Notes, 5.800%, 03/05/27^(b)	Ba1/BBB-		276		277,034
Ford Motor Credit Co. LLC, Sr. Unsec. Notes, 7.122%, 11/07/33^(b)	Ba1/BBB-		200		215,362
General Motors Financial Co., Inc., Sr. Unsec. Notes, 3.600%, 06/21/30^(b)	Baa2/BBB		1,027		927,798
Stellantis Finance US, Inc., Co. Gty., 2.691%, 09/15/31, 144A^(b)	Baa1/BBB+		221		186,054
Volkswagen Group of America Finance LLC, Co. Gty., 6.450%, 11/16/30, 144A^(b)	A3/BBB+		530		563,648
					4,486,062
BANKS (13.35%)
AIB Group PLC, Sr. Unsec. Notes, (3M LIBOR + 1.874%), 4.263%, 04/10/25, 144A^(b),(c)	A3/BBB		582		581,680
Banco Santander SA, Sr. Unsec. Notes, 5.588%, 08/08/28	A2/A+		600		608,678
Bank of America Corp., Sr. Unsec. Notes, (SOFRRATE + 1.330%), 2.972%, 02/04/33^(b),(c)	A1/A-		2,655		2,258,876
Bank of America Corp., Sr. Unsec. Notes, (SOFRRATE + 1.650%), 5.468%, 01/23/35^(b),(c)	A1/A-		106		106,841
Barclays PLC, Sr. Unsec. Notes, (SOFRRATE + 2.420%), 6.036%, 03/12/55^(b),(c)	Baa1/BBB+		200		208,200
Citigroup, Inc., Jr. Sub. Notes, (H15T5Y + 3.597%), 4.000%, 12/10/25^(b),(c),(d)	Ba1/BB+		384		368,183

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
BANKS (Continued)
Citigroup, Inc., Sr. Unsec. Notes, 8.125%, 07/15/39	A3/BBB+	$	70	$	89,552
Citigroup, Inc., Sr. Unsec. Notes, (TSFR3M + 1.600%), 3.980%, 03/20/30^(b),(c)	A3/BBB+		500		471,108
Citigroup, Inc., Sr. Unsec. Notes, (TSFR3M + 1.825%), 3.887%, 01/10/28^(b),(c)	A3/BBB+		2,402		2,316,907
Citigroup, Inc., Sub. Notes, 4.600%, 03/09/26	Baa2/BBB		988		972,591
Citigroup, Inc., Sub. Notes, 5.300%, 05/06/44	Baa2/BBB		926		900,544
Citizens Bank NA, Sr. Unsec. Notes, (SOFRRATE + 1.450%), 6.064%, 10/24/25^(b),(c)	Baa1/A-		500		498,034
Citizens Financial Group, Inc., Sr. Unsec. Notes, (SOFRRATE + 2.010%), 5.841%, 01/23/30^(b),(c)	Baa1/BBB+		137		136,739
Credit Agricole SA, Sub. Notes, (USD 5 yr. Swap Semi 30/360 US + 1.644%), 4.000%, 01/10/33, 144A^(b),(c)	Baa1/BBB+		1,025		956,771
Credit Suisse AG, Sr. Unsec. Notes, (SOFRINDX + 1.260%), 6.616%, 02/21/25^(e)	A3+/A+		1,250		1,255,753
Goldman Sachs Group, Inc., Sr. Unsec. Notes, (SOFRRATE + 1.725%), 4.482%, 08/23/28^(b),(c)	A2/BBB+		703		687,551
Goldman Sachs Group, Inc., Sr. Unsec. Notes, (TSFR3M + 2.012%), 7.331%, 10/28/27^(b),(e)	A2/BBB+		550		566,518
HSBC Capital Funding Dollar 1 LP, Co. Gty., (3M LIBOR + 4.980%), 10.176%, 06/30/30, 144A^(b),(c),(d)	Baa3/BB+		2,180		2,736,129
ING Groep NV, Sr. Unsec. Notes, (SOFRRATE + 1.640%), 3.869%, 03/28/26^(b),(c)	Baa1/A-		782		768,014
JPMorgan Chase & Co., Sr. Unsec. Notes, (SOFRRATE + 1.845%), 5.350%, 06/01/34^(b),(c)	A1/A-		400		401,756
Morgan Stanley, Sub. Notes, 4.350%, 09/08/26	Baa1/BBB+		1,500		1,467,177
PNC Financial Services Group, Inc., Jr. Sub. Notes, (TSFR3M + 3.562%), 5.000%, 11/01/26^(b),(c),(d)	Baa2/BBB-		757		727,365
PNC Financial Services Group, Inc., Sr. Unsec. Notes, (SOFRINDX + 1.730%), 6.615%, 10/20/27^(b),(c)	A3/A-		277		285,233
Santander Holdings USA, Inc., Sr. Unsec. Notes, (SOFRRATE + 2.356%), 6.499%, 03/09/29^(b),(c)	Baa2/BBB+		134		137,212
State Street Corp., Jr. Sub. Notes, (H15T5Y + 2.613%), 6.700%, 03/15/29^(b),(c),(d)	Baa1/BBB		371		376,373
Synchrony Bank, Sr. Unsec. Notes, 5.400%, 08/22/25^(b)	NA/BBB		305		302,324
Truist Financial Corp., Jr. Sub. Notes, (H15T5Y + 3.003%), 4.800%, 09/01/24^(b),(c),(d)	Baa2-/BBB-		1,136		1,100,446
Truist Financial Corp., Sr. Unsec. Notes, (SOFRRATE + 2.361%), 5.867%, 06/08/34^(b),(c)	A3-/A-		111		112,385
Truist Financial Corp., Sr. Unsec. Notes, (SOFRRATE + 2.446%), 7.161%, 10/30/29^(b),(c)	A3-/A-		149		159,020
UBS Group AG, Sr. Unsec. Notes, (H15T1Y + 1.770%), 5.699%, 02/08/35, 144A^(b),(c)	A3/A-		266		267,642
UBS Group AG, Sr. Unsec. Notes, (SOFRRATE + 1.560%), 2.593%, 09/11/25, 144A^(b),(c)	A3/A-		1,242		1,224,389
US Bancorp, Sr. Unsec. Notes, (SOFRRATE + 1.860%), 5.678%, 01/23/35^(b),(c)	A3/A		305		308,338
US Bancorp, Sr. Unsec. Notes, (SOFRRATE + 2.260%), 5.836%, 06/12/34^(b),(c)	A3/A		161		164,234
Wells Fargo & Co., Jr. Sub. Notes, (H15T5Y + 3.453%), 3.900%, 03/15/26^(b),(c),(d)	Baa2/BB+		1,162		1,105,557
Westpac Banking Corp., Sub. Notes, (H15T5Y + 1.750%), 2.668%, 11/15/35^(b),(c)	A3/BBB+		753		621,691
					25,249,811
BEVERAGES (0.35%)
Anheuser-Busch Cos. LLC, Co. Gty., 4.700%, 02/01/36^(b)	A3/A-		645		626,893
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 8.200%, 01/15/39	A3/A-		27		34,989
					661,882
BIOTECHNOLOGY (0.74%)
Amgen, Inc., Sr. Unsec. Notes, 5.250%, 03/02/30^(b)	Baa1/BBB+		106		107,654
Amgen, Inc., Sr. Unsec. Notes, 5.650%, 03/02/53^(b)	Baa1/BBB+		255		260,354
Royalty Pharma PLC, Co. Gty., 2.200%, 09/02/30^(b)	Baa3/BBB-		930		773,248
Royalty Pharma PLC, Co. Gty., 2.150%, 09/02/31^(b)	Baa3/BBB-		326		262,899
					1,404,155
BUILDING MATERIALS (1.12%)
Builders FirstSource, Inc., Co. Gty., 6.375%, 03/01/34, 144A^(b)	Ba2/BB-		541		543,576
Carrier Global Corp., Sr. Unsec. Notes, 6.200%, 03/15/54^(b)	Baa3/BBB		54		59,639
Masonite International Corp., Co. Gty., 3.500%, 02/15/30, 144A^(b)	Ba2/BB+		53		46,848

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
BUILDING MATERIALS (Continued)
Smyrna Ready Mix Concrete LLC, Sr. Sec. Notes, 6.000%, 11/01/28, 144A^(b)	Ba3/BB-	$	548	$	536,710
Smyrna Ready Mix Concrete LLC, Sr. Sec. Notes, 8.875%, 11/15/31, 144A^(b)	Ba3/BB-		878		938,486
					2,125,259
CHEMICALS (2.33%)
Braskem Netherlands Finance BV, Co. Gty., 4.500%, 01/31/30, 144A^(b)	NA/BB+		735		633,785
Braskem Netherlands Finance BV, Co. Gty., 5.875%, 01/31/50, 144A	NA/BB+		245		189,592
Celanese US Holdings LLC, Co. Gty., 6.165%, 07/15/27^(b)	Baa3/BBB-		787		801,780
Orbia Advance Corp. SAB de CV, Co. Gty., 2.875%, 05/11/31, 144A^(b)	Baa3/BBB-		371		308,468
Union Carbide Corp., Sr. Unsec. Notes, 7.750%, 10/01/96^(f)	Baa1/BBB		2,000		2,474,814
					4,408,439
COMMERCIAL SERVICES (2.58%)
Adani Ports & Special Economic Zone, Ltd., Sr. Unsec. Notes, 3.375%, 07/24/24, 144A	Baa3/BBB-		1,061		1,048,650
Ashtead Capital, Inc., Co. Gty., 4.000%, 05/01/28, 144A^(b)	Baa3/BBB-		555		521,617
Ashtead Capital, Inc., Co. Gty., 4.250%, 11/01/29, 144A^(b)	Baa3/BBB-		200		186,504
ERAC USA Finance LLC, Co. Gty., 7.000%, 10/15/37, 144A	A3/A-		1,500		1,712,723
Global Payments, Inc., Sr. Unsec. Notes, 3.200%, 08/15/29^(b)	Baa3/BBB-		650		582,999
Global Payments, Inc., Sr. Unsec. Notes, 5.400%, 08/15/32^(b)	Baa3/BBB-		178		176,601
Prime Security Services Borrower LLC, Sr. Sec. Notes, 3.375%, 08/31/27, 144A^(b)	Ba2/BB		559		513,537
Triton Container International, Ltd., Co. Gty., 3.150%, 06/15/31, 144A^(b)	NA/BBB		167		134,923
					4,877,554
COMPUTERS (0.47%)
Dell International LLC, Co. Gty., 3.450%, 12/15/51^(b)	Baa2/BBB		192		134,669
Dell International LLC, Sr. Unsec. Notes, 5.850%, 07/15/25^(b)	Baa2/BBB		342		343,767
Dell International LLC, Sr. Unsec. Notes, 8.350%, 07/15/46^(b)	Baa2/BBB		90		116,216
Kyndryl Holdings, Inc., Sr. Unsec. Notes, 2.050%, 10/15/26^(b)	Baa2/BBB-		326		298,857
					893,509
DIVERSIFIED FINANCIAL SERVICES (1.31%)
AerCap Ireland Capital DAC, Co. Gty., 3.300%, 01/30/32^(b)	Baa2/BBB		1,122		962,674
Discover Financial Services, Sr. Unsec. Notes, 6.700%, 11/29/32^(b)	Baa2/BBB-		690		730,027
LSEGA Financing PLC, Co. Gty., 2.500%, 04/06/31, 144A^(b)	A3/A		264		223,649
Macquarie Airfinance Holdings, Ltd., Sr. Unsec. Notes, 6.500%, 03/26/31, 144A^(b)	Baa3/NA		73		74,318
Nasdaq, Inc., Sr. Unsec. Notes, 5.350%, 06/28/28^(b)	Baa2/BBB		147		148,934
Nasdaq, Inc., Sr. Unsec. Notes, 5.950%, 08/15/53^(b)	Baa2/BBB		38		40,102
Synchrony Financial, Sr. Unsec. Notes, 2.875%, 10/28/31^(b)	NA/BBB-		372		297,014
					2,476,718
ELECTRIC (6.01%)
AES Andes SA, Jr. Sub. Notes, (H15T5Y + 4.917%), 6.350%, 10/07/79, 144A^(b),(c)	Ba2/BB		508		495,605
AES Panama Generation Holdings Srl, Sr. Sec. Notes, 4.375%, 05/31/30, 144A^(b)	Baa3/NA		539		468,759
Berkshire Hathaway Energy Co., Sr. Unsec. Notes, 2.850%, 05/15/51^(b)	A3/A-		1,000		645,511
Black Hills Corp., Sr. Unsec. Notes, 3.875%, 10/15/49^(b)	Baa2/BBB+		1,175		853,224
CenterPoint Energy Houston Electric LLC, 5.300%, 04/01/53^(b)	A2/A		53		52,979
CMS Energy Corp., Jr. Sub. Notes, (H15T5Y + 2.900%), 3.750%, 12/01/50^(b),(c)	Baa3/BBB-		238		194,916
Consorcio Transmantaro SA, Sr. Unsec. Notes, 4.700%, 04/16/34, 144A	Baa3/NA		200		188,702
Duke Energy Corp., Sr. Unsec. Notes, 5.000%, 08/15/52^(b)	Baa2/BBB		745		675,395
Edison International, Jr. Sub. Notes, (H15T5Y + 4.698%), 5.375%, 03/15/26^(b),(c),(d)	Ba1/BB+		638		617,501
Electricite de France SA, Jr. Sub. Notes, (H15T5Y + 5.411%), 9.125%, 03/15/33, 144A^(b),(c),(d)	Ba2/B+		200		220,255
Enel Finance America LLC, Co. Gty., 7.100%, 10/14/27, 144A^(b)	Baa1/BBB		200		211,721
Enel Finance International NV, Co. Gty., 7.500%, 10/14/32, 144A^(b)	Baa1/BBB		200		225,663
Evergy Metro, Inc., Sr. Sec. Notes, 4.200%, 06/15/47^(b)	A2/A		917		743,896
Hydro-Quebec, 8.250%, 04/15/26	Aa2/AA-		1,550		1,644,696
Indiana Michigan Power Co., Sr. Unsec. Notes, 5.625%, 04/01/53^(b)	A3/BBB+		38		38,429

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
ELECTRIC (Continued)
IPALCO Enterprises, Inc., Sr. Sec. Notes, 4.250%, 05/01/30^(b)	Baa3/BBB-	$	462	$	430,069
Jersey Central Power & Light Co., Sr. Unsec. Notes, 2.750%, 03/01/32, 144A^(b)	A3/BBB		323		268,657
MidAmerican Funding LLC, Sr. Sec. Notes, 6.927%, 03/01/29	A2/BBB+		500		541,057
New England Power Co., Sr. Unsec. Notes, 5.936%, 11/25/52, 144A^(b)	A3/BBB+		356		367,310
Niagara Mohawk Power Corp., Sr. Unsec. Notes, 5.664%, 01/17/54, 144A^(b)	Baa1/BBB+		96		95,678
Pacific Gas and Electric Co., 2.100%, 08/01/27^(b)	Baa2/BBB		391		352,031
Pacific Gas and Electric Co., 3.500%, 08/01/50^(b)	Baa2/BBB		617		422,877
Public Service Enterprise Group, Inc., Sr. Unsec. Notes, 6.125%, 10/15/33^(b)	Baa2/BBB		184		193,478
Puget Energy, Inc., Sr. Sec. Notes, 2.379%, 06/15/28^(b)	Baa3/BBB-		247		220,398
Transelec SA, Sr. Unsec. Notes, 4.250%, 01/14/25, 144A^(b)	Baa1/BBB		750		740,498
Transelec SA, Sr. Unsec. Notes, 3.875%, 01/12/29, 144A^(b)	Baa1/BBB		490		462,865
					11,372,170
ENGINEERING & CONSTRUCTION (0.21%)
Sydney Airport Finance Co. Pty, Ltd., Sr. Sec. Notes, 3.375%, 04/30/25, 144A^(b)	Baa1/BBB+		400		390,309
ENTERTAINMENT (0.44%)
Caesars Entertainment, Inc., Co. Gty., 8.125%, 07/01/27, 144A^(b)	B3/B-		188		192,565
Caesars Entertainment, Inc., Sr. Sec. Notes, 7.000%, 02/15/30, 144A^(b)	Ba3/BB-		178		182,678
Caesars Entertainment, Inc., Sr. Sec. Notes, 6.500%, 02/15/32, 144A^(b)	Ba3/BB-		32		32,298
Warnermedia Holdings, Inc., Co. Gty., 3.638%, 03/15/25	Baa3/BBB-		441		432,355
					839,896
ENVIRONMENTAL CONTROL (0.06%)
GFL Environmental, Inc., Sr. Sec. Notes, 6.750%, 01/15/31, 144A^(b)	Ba3/BB-		114		116,873
FOOD (1.42%)
Bimbo Bakeries USA, Inc., Co. Gty., 6.400%, 01/15/34, 144A^(b)	Baa1/BBB+		395		423,607
Bimbo Bakeries USA, Inc., Co. Gty., 5.375%, 01/09/36, 144A^(b)	Baa1/BBB+		200		198,432
Bimbo Bakeries USA, Inc., Co. Gty., 4.000%, 05/17/51, 144A^(b)	Baa1/BBB+		363		281,137
J M Smucker Co., Sr. Unsec. Notes, 6.500%, 11/15/53^(b)	Baa2/BBB		107		118,862
JBS USA LUX SA, Co. Gty., 3.625%, 01/15/32^(b)	Baa3/BBB-		211		180,527
Kraft Heinz Foods Co., Co. Gty., 5.500%, 06/01/50^(b)	Baa2/BBB		346		342,419
MARB BondCo PLC, Co. Gty., 3.950%, 01/29/31, 144A^(b)	NA/BB+		213		175,652
NBM US Holdings, Inc., Co. Gty., 7.000%, 05/14/26, 144A^(b)	NA/BB+		885		888,545
US Foods, Inc., Co. Gty., 7.250%, 01/15/32, 144A^(b)	B2/BB-		67		69,729
					2,678,910
FOREST PRODUCTS & PAPER (0.16%)
Suzano Austria GmbH, Co. Gty., 3.750%, 01/15/31^(b)	NA/BBB-		351		310,256
GAS (1.94%)
NiSource, Inc., Sr. Unsec. Notes, 5.250%, 03/30/28^(b)	Baa2/BBB+		51		51,373
NiSource, Inc., Sr. Unsec. Notes, 5.400%, 06/30/33^(b)	Baa2/BBB+		191		192,738
Piedmont Natural Gas Co., Inc., Sr. Unsec. Notes, 3.500%, 06/01/29^(b)	A3/BBB+		1,120		1,042,792
Southern Co. Gas Capital Corp., Co. Gty., 5.875%, 03/15/41^(b)	Baa1/BBB+		992		1,003,349
Southern Co. Gas Capital Corp., Co. Gty., 3.950%, 10/01/46^(b)	Baa1/BBB+		539		418,341
Southern Co. Gas Capital Corp., Co. Gty., 4.400%, 05/30/47^(b)	Baa1/BBB+		1,164		966,373
					3,674,966
HEALTHCARE-PRODUCTS (0.15%)
STERIS Irish FinCo UnLtd Co., Co. Gty., 2.700%, 03/15/31^(b)	Baa2/BBB		329		281,098
HEALTHCARE-SERVICES (0.12%)
HCA, Inc., Co. Gty., 5.600%, 04/01/34^(b)	Baa3/BBB-		224		225,778
HOLDING COMPANIES-DIVERS (0.31%)
Benteler International AG, Sr. Sec. Notes, 10.500%, 05/15/28, 144A^(b)	Ba3/BB-		547		591,409

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
INSURANCE (6.95%)
Allianz SE, Jr. Sub. Notes, (H15T5Y + 2.165%), 3.200%, 10/30/27, 144A^(b),(c),(d)	A3/A	$	200	$	163,956
Allianz SE, Jr. Sub. Notes, (H15T5Y + 2.973%), 3.500%, 11/17/25, 144A^(b),(c),(d)	A3/A		400		371,088
Allstate Corp., Jr. Sub. Notes, (3M LIBOR + 2.120%), 6.500%, 05/15/57^(b),(c),(f)	Baa1/BBB-		2,200		2,235,198
Farmers Exchange Capital, Sub. Notes, 7.200%, 07/15/48, 144A^(f)	Baa3/BBB+		2,250		2,150,200
Liberty Mutual Group, Inc., Co. Gty., 3.951%, 10/15/50, 144A^(b)	Baa2/BBB		250		188,287
Liberty Mutual Group, Inc., Co. Gty., (TSFR3M + 7.382%), 10.750%, 06/15/58, 144A^(b),(c)	Baa3/BB+		1,000		1,187,726
Lincoln National Corp., Sr. Unsec. Notes, 5.852%, 03/15/34^(b)	Baa2/BBB+		429		423,591
Massachusetts Mutual Life Insurance Co., Sub. Notes, 3.729%, 10/15/70, 144A	A2/AA-		243		164,888
Massachusetts Mutual Life Insurance Co., Sub. Notes, 4.900%, 04/01/77, 144A	A2/AA-		980		824,843
MetLife, Inc., Jr. Sub. Notes, 6.400%, 12/15/36^(b)	Baa2/BBB		637		652,432
MetLife, Inc., Jr. Sub. Notes, 10.750%, 08/01/39^(b)	Baa2/BBB		1,000		1,358,726
MetLife, Inc., Jr. Sub. Notes, 9.250%, 04/08/38, 144A^(b)	Baa2/BBB		1,059		1,241,222
Nationwide Mutual Insurance Co., Sub. Notes, 8.250%, 12/01/31, 144A	Baa1/A-		500		562,239
Nationwide Mutual Insurance Co., Sub. Notes, 9.375%, 08/15/39, 144A	Baa1/A-		215		279,083
New York Life Insurance Co., Sub. Notes, 6.750%, 11/15/39, 144A	Aa2/AA-		103		117,238
Prudential Financial, Inc., Jr. Sub. Notes, (3M LIBOR + 2.665%), 5.700%, 09/15/48^(b),(c)	Baa1/BBB+		1,241		1,222,961
					13,143,678
INTERNET (0.55%)
Meta Platforms, Inc., Sr. Unsec. Notes, 4.450%, 08/15/52^(b)	A1/AA-		500		445,117
Netflix, Inc., Sr. Unsec. Notes, 5.875%, 11/15/28	Baa2/BBB+		193		200,659
Prosus NV, Sr. Unsec. Notes, 4.987%, 01/19/52, 144A^(b)	Baa3/BBB		540		397,749
					1,043,525
IRON/STEEL (0.15%)
Cleveland-Cliffs, Inc., Sr. Unsec. Notes, 7.000%, 03/15/32, 144A^(b)	Ba3/BB-		278		281,914
LEISURE TIME (0.60%)
NCL Corp., Ltd., Sr. Unsec. Notes, 7.750%, 02/15/29, 144A^(b)	Caa1/B		370		384,438
Royal Caribbean Cruises, Ltd., Sr. Unsec. Notes, 6.250%, 03/15/32, 144A^(b)	Ba2/BB+		748		754,379
					1,138,817
LODGING (0.71%)
MGM China Holdings, Ltd., Sr. Unsec. Notes, 4.750%, 02/01/27, 144A^(b)	B1/B+		200		190,520
Wynn Macau, Ltd., Sr. Unsec. Notes, 5.625%, 08/26/28, 144A^(b)	B1/BB-		1,219		1,156,167
					1,346,687
MACHINERY-DIVERSIFIED (0.39%)
AGCO Corp., Co. Gty., 5.800%, 03/21/34^(b)	Baa2/BBB-		149		150,861
TK Elevator US Newco, Inc., Sr. Sec. Notes, 5.250%, 07/15/27, 144A^(b)	B2/B		600		579,811
					730,672
MEDIA (5.71%)
CCO Holdings LLC, Sr. Unsec. Notes, 4.500%, 05/01/32^(b)	B1/BB-		1,017		816,816
Charter Communications Operating LLC, Sr. Sec. Notes, 5.750%, 04/01/48^(b)	Ba1/BBB-		389		328,438
Comcast Corp., Co. Gty., 7.050%, 03/15/33^(f)	A3/A-		2,000		2,266,821
Cox Communications, Inc., Sr. Unsec. Notes, 6.800%, 08/01/28	Baa2/BBB		1,500		1,580,230
Cox Enterprises, Inc., Sr. Unsec. Notes, 7.375%, 07/15/27, 144A	Baa2/BBB		500		524,872
Fox Corp., Sr. Unsec. Notes, 5.576%, 01/25/49^(b)	Baa2/BBB		653		609,186
Paramount Global, Jr. Sub. Notes, (H15T5Y + 3.999%), 6.375%, 03/30/62^(b),(c)	Ba1/BB-		600		554,097
Paramount Global, Sr. Unsec. Notes, 4.200%, 05/19/32^(b)	Baa3/BB+		550		457,364
Paramount Global, Sr. Unsec. Notes, 6.875%, 04/30/36	Baa3/BB+		179		169,210
Time Warner Cable Enterprises LLC, Sr. Sec. Notes, 8.375%, 07/15/33	Ba1/BBB-		1,360		1,519,292
Univision Communications, Inc., Sr. Sec. Notes, 8.000%, 08/15/28, 144A^(b)	B1/B+		14		14,263
Virgin Media Finance PLC, Co. Gty., 5.000%, 07/15/30, 144A^(b)	B2/B-		200		169,062
Walt Disney Co., Co. Gty., 7.900%, 12/01/95	A2/A-		1,400		1,789,655
					10,799,306

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
MINING (0.57%)
Alcoa Nederland Holding BV, Co. Gty., 7.125%, 03/15/31, 144A^(b)	Ba1/BB	$	200	$	204,008
AngloGold Ashanti Holdings PLC, Co. Gty., 3.750%, 10/01/30^(b)	Baa3/BB+		339		296,372
Glencore Funding LLC, Co. Gty., 5.893%, 04/04/54, 144A^(b)	Baa1/BBB+		276		280,045
Newmont Corp., Co. Gty., 3.250%, 05/13/30, 144A^(b)	Baa1/BBB+		319		288,370
					1,068,795
OIL & GAS (3.13%)
Aker BP ASA, Co. Gty., 3.100%, 07/15/31, 144A^(b)	Baa2/BBB		426		364,353
BP Capital Markets PLC, Co. Gty., (H15T5Y + 4.036%), 4.375%, 06/22/25^(b),(c),(d)	A3/BBB		140		137,196
CITGO Petroleum Corp., Sr. Sec. Notes, 7.000%, 06/15/25, 144A^(b)	B3/B+		697		696,371
CITGO Petroleum Corp., Sr. Sec. Notes, 8.375%, 01/15/29, 144A^(b)	B3/B+		28		29,418
CVR Energy, Inc., Co. Gty., 5.750%, 02/15/28, 144A^(b)	B1/B+		602		565,367
Endeavor Energy Resources LP, Sr. Unsec. Notes, 5.750%, 01/30/28, 144A^(b)	Ba2+/BB+		473		476,836
Exxon Mobil Corp., Sr. Unsec. Notes, 4.227%, 03/19/40^(b)	Aa2/AA-		1,402		1,280,174
Occidental Petroleum Corp., Sr. Unsec. Notes, 6.450%, 09/15/36	Baa3/BB+		635		677,290
Petroleos del Peru SA, Sr. Unsec. Notes, 4.750%, 06/19/32, 144A	NA/B+		513		403,805
Petroleos Mexicanos, Co. Gty., 5.950%, 01/28/31^(b)	B3/BBB		552		442,777
Petroleos Mexicanos, Co. Gty., 6.950%, 01/28/60^(b)	B3/BBB		195		128,766
Saudi Arabian Oil Co., Sr. Unsec. Notes, 2.250%, 11/24/30, 144A^(b)	A1/NA		853		718,171
					5,920,524
PACKAGING & CONTAINERS (0.46%)
Ardagh Metal Packaging Finance USA LLC, Sr. Unsec. Notes, 4.000%, 09/01/29, 144A^(b)	Caa1/B		200		161,339
Sealed Air Corp, Co. Gty., 6.125%, 02/01/28, 144A^(b)	Ba2/BB+		28		28,075
Sealed Air Corp., Sr. Sec. Notes, 1.573%, 10/15/26, 144A^(b)	Baa2/BBB-		524		473,104
Smurfit Kappa Treasury ULC, Co. Gty., 5.438%, 04/03/34, 144A^(b)	Baa3/NA		212		212,289
					874,807
PHARMACEUTICALS (1.00%)
Bayer US Finance LLC, Co. Gty., 6.500%, 11/21/33, 144A^(b)	Baa2/BBB		227		231,213
Bristol-Myers Squibb Co., Sr. Unsec. Notes, 5.550%, 02/22/54^(b)	A2/A		821		848,129
CVS Health Corp., Sr. Unsec. Notes, 5.875%, 06/01/53^(b)	Baa2/BBB		151		153,928
Organon & Co, Sr. Sec. Notes, 4.125%, 04/30/28, 144A^(b)	Ba2/BB		200		186,429
Takeda Pharmaceutical Co., Ltd., Sr. Unsec. Notes, 3.175%, 07/09/50^(b)	Baa1/BBB+		684		477,891
					1,897,590
PIPELINES (8.71%)
Antero Midstream Partners LP, Co. Gty., 6.625%, 02/01/32, 144A^(b)	Ba3/BB		370		371,888
Cheniere Energy Partners LP, Co. Gty., 3.250%, 01/31/32^(b)	Ba1/BBB-		91		77,540
Cheniere Energy Partners LP, Co. Gty., 5.950%, 06/30/33^(b)	Ba1/BBB-		92		94,231
Columbia Pipelines Holding Co. LLC, Sr. Unsec. Notes, 6.055%, 08/15/26, 144A^(b)	Baa2/NA		70		70,781
Columbia Pipelines Operating Co. LLC, Sr. Unsec. Notes, 6.544%, 11/15/53, 144A^(b)	Baa1/NA		155		168,255
DT Midstream, Inc., Sr. Sec. Notes, 4.300%, 04/15/32, 144A^(b)	Baa2/BBB-		432		391,723
EIG Pearl Holdings Sarl, Sr. Sec. Notes, 4.387%, 11/30/46, 144A	A1/NA		700		546,875
Enbridge, Inc., Co. Gty., 6.700%, 11/15/53^(b)	Baa2/BBB+		227		257,146
Enbridge, Inc., Sub. Notes, (TSFR3M + 4.152%), 6.000%, 01/15/77^(b),(c)	Ba1/BBB-		750		733,057
Energy Transfer LP, Co. Gty., 7.375%, 02/01/31, 144A^(b)	Baa3/BBB		36		37,687
Energy Transfer LP, Jr. Sub. Notes, (H15T5Y + 5.306%), 7.125%, 05/15/30^(b),(c),(d)	Ba2/BB+		160		156,288
Energy Transfer LP, Sr. Unsec. Notes, 3.750%, 05/15/30^(b)	Baa3/BBB		398		367,103
Energy Transfer LP, Sr. Unsec. Notes, 5.550%, 05/15/34^(b)	Baa3/BBB		59		59,180
Energy Transfer LP, Sr. Unsec. Notes, 5.950%, 05/15/54^(b)	Baa3/BBB		145		144,946
Enterprise Products Operating LLC, Co. Gty., (TSFR3M + 2.832%), 5.375%, 02/15/78^(b),(c)	Baa1/BBB		342		318,752
EQM Midstream Partners LP, Sr. Unsec. Notes, 6.375%, 04/01/29, 144A^(b)	Ba3+/BB-		168		169,377
Florida Gas Transmission Co. LLC, Sr. Unsec. Notes, 9.190%, 11/01/24, 144A	Baa2/BBB+		10		10,074
Global Partners LP, Co. Gty., 7.000%, 08/01/27^(b)	B2/B+		1,076		1,076,831
Global Partners LP, Co. Gty., 6.875%, 01/15/29^(b)	B2/B+		173		171,824
Global Partners LP, Co. Gty., 8.250%, 01/15/32, 144A^(b)	B2/B+		643		666,597

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
PIPELINES (Continued)
Howard Midstream Energy Partners LLC, Sr. Unsec. Notes, 6.750%, 01/15/27, 144A^(b)	B2/B+	$	110	$	109,714
Howard Midstream Energy Partners LLC, Sr. Unsec. Notes, 8.875%, 07/15/28, 144A^(b)	B2/B+		203		214,160
Kinder Morgan, Inc., Co. Gty., 8.050%, 10/15/30	Baa2/BBB		1,000		1,138,805
Kinder Morgan, Inc., Co. Gty., 5.550%, 06/01/45^(b)	Baa2/BBB		1,755		1,677,001
MPLX LP, Sr. Unsec. Notes, 4.250%, 12/01/27^(b)	Baa2/BBB		901		876,346
MPLX LP, Sr. Unsec. Notes, 5.500%, 02/15/49^(b)	Baa2/BBB		694		661,789
MPLX LP, Sr. Unsec. Notes, 4.900%, 04/15/58^(b)	Baa2/BBB		561		470,598
NGPL PipeCo LLC, Sr. Unsec. Notes, 7.768%, 12/15/37, 144A	Baa3/BBB-		880		981,484
ONEOK, Inc., Co. Gty., 5.800%, 11/01/30^(b)	Baa2/BBB		123		126,785
ONEOK, Inc., Co. Gty., 6.100%, 11/15/32^(b)	Baa2/BBB		177		185,597
ONEOK, Inc., Co. Gty., 6.625%, 09/01/53^(b)	Baa2/BBB		548		604,649
Panhandle Eastern Pipe Line Co. LP, Sr. Unsec. Notes, 7.000%, 07/15/29	Baa3/BBB		1,000		1,057,320
Targa Resources Partners LP, Co. Gty., 5.500%, 03/01/30^(b)	Baa3/BBB		1,177		1,171,418
Transcontinental Gas Pipe Line Co. LLC, Sr. Unsec. Notes, 3.950%, 05/15/50^(b)	Baa1/BBB		384		302,424
Williams Cos., Inc., Sr. Unsec. Notes, 7.500%, 01/15/31	Baa2/BBB		911		1,014,238
					16,482,483
REITS (3.50%)
American Homes 4 Rent LP, Sr. Unsec. Notes, 5.500%, 02/01/34^(b)	Baa2/BBB		947		943,822
Brixmor Operating Partnership LP, Sr. Unsec. Notes, 3.850%, 02/01/25^(b)	Baa3/BBB		161		158,232
EPR Properties, Sr. Unsec. Notes, 3.600%, 11/15/31^(b)	Baa3/BBB-		533		445,941
Extra Space Storage LP, Co. Gty., 5.700%, 04/01/28^(b)	Baa2/BBB+		129		131,309
Extra Space Storage LP, Co. Gty., 3.900%, 04/01/29^(b)	Baa2/BBB+		371		349,883
Extra Space Storage LP, Co. Gty., 2.350%, 03/15/32^(b)	Baa2/BBB+		267		213,799
Kite Realty Group LP, Sr. Unsec. Notes, 4.000%, 10/01/26^(b)	Baa2/BBB-		129		122,797
Kite Realty Group LP, Sr. Unsec. Notes, 5.500%, 03/01/34^(b)	Baa2/BBB-		44		43,741
Prologis Targeted US Logistics Fund LP, Co. Gty., 5.500%, 04/01/34, 144A^(b)	A3/A-		343		344,978
Rexford Industrial Realty LP, Co. Gty., 2.150%, 09/01/31^(b)	Baa2/BBB+		360		288,417
SBA Tower Trust, 2.593%, 10/15/31, 144A^(b)	A2/NA		454		366,307
Scentre Group Trust 2, Co. Gty., (H15T5Y + 4.379%), 4.750%, 09/24/80, 144A^(b),(c)	Baa1/BBB+		2,007		1,926,631
Simon Property Group LP, Sr. Unsec. Notes, 5.850%, 03/08/53^(b)	A3/A-		271		279,512
VICI Properties LP, Co. Gty., 3.500%, 02/15/25, 144A^(b)	Ba1/BBB-		385		376,552
VICI Properties LP, Sr. Unsec. Notes, 6.125%, 04/01/54^(b)	Ba1/BBB-		31		30,649
Vornado Realty LP, Sr. Unsec. Notes, 2.150%, 06/01/26^(b)	Ba1/BBB-		620		563,345
WEA Finance LLC, Co. Gty., 4.625%, 09/20/48, 144A^(b)	Baa2/BBB+		36		25,497
					6,611,412
RETAIL (0.55%)
Macy’s Retail Holdings LLC, Co. Gty., 5.875%, 03/15/30, 144A^(b)	Ba2/BB+		159		154,523
Murphy Oil USA, Inc., Co. Gty., 3.750%, 02/15/31, 144A^(b)	Ba2/BB+		119		103,937
Starbucks Corp., Sr. Unsec. Notes, 4.450%, 08/15/49^(b)	Baa1/BBB+		891		775,502
					1,033,962
SEMICONDUCTORS (1.44%)
Broadcom, Inc., Co. Gty., 3.750%, 02/15/51, 144A^(b)	Baa3/BBB		166		125,942
Broadcom, Inc., Sr. Unsec. Notes, 3.469%, 04/15/34, 144A^(b)	Baa3/BBB		1,655		1,420,208
Broadcom, Inc., Sr. Unsec. Notes, 3.187%, 11/15/36, 144A^(b)	Baa3/BBB		1,109		883,696
Intel Corp., Sr. Unsec. Notes, 5.200%, 02/10/33^(b)	A3/A-		92		93,372
Intel Corp., Sr. Unsec. Notes, 5.700%, 02/10/53^(b)	A3/A-		61		63,101
Micron Technology, Inc., Sr. Unsec. Notes, 2.703%, 04/15/32^(b)	Baa3/BBB-		164		137,029
					2,723,348
SOFTWARE (1.71%)
Fiserv, Inc., Sr. Unsec. Notes, 5.600%, 03/02/33^(b)	Baa2/BBB		121		123,459
Oracle Corp., Sr. Unsec. Notes, 2.300%, 03/25/28^(b)	Baa2/BBB		1,130		1,020,438
Oracle Corp., Sr. Unsec. Notes, 3.650%, 03/25/41^(b)	Baa2/BBB		1,745		1,372,472

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
CORPORATE DEBT SECURITIES (Continued)
SOFTWARE (Continued)
Oracle Corp., Sr. Unsec. Notes, 5.550%, 02/06/53^(b)	Baa2/BBB	$	80	$	78,384
VMware LLC, Sr. Unsec. Notes, 2.200%, 08/15/31^(b)	WR/BBB		788		641,788
					3,236,541
TELECOMMUNICATIONS (2.95%)
AT&T, Inc., Sr. Unsec. Notes, 4.500%, 05/15/35^(b)	Baa2/BBB		515		481,668
AT&T, Inc., Sr. Unsec. Notes, 4.750%, 05/15/46^(b)	Baa2/BBB		425		381,020
AT&T, Inc., Sr. Unsec. Notes, 3.550%, 09/15/55^(b)	Baa2/BBB		2,195		1,536,625
Deutsche Telekom International Finance BV, Co. Gty., 8.750%, 06/15/30^(f),(g)	Baa1/BBB+		2,000		2,366,355
Frontier Communications Holdings LLC, Sr. Sec. Notes, 5.000%, 05/01/28, 144A^(b)	B3/B		255		236,708
T-Mobile USA, Inc., Co. Gty., 4.950%, 03/15/28^(b)	Baa2/BBB		83		82,849
Verizon Communications, Inc., Sr. Unsec. Notes, 3.550%, 03/22/51^(b)	Baa1/BBB+		674		501,348
					5,586,573
TRANSPORTATION (0.34%)
BNSF Funding Trust I, Co. Gty., (3M LIBOR + 2.350%), 6.613%, 12/15/55^(b),(c)	Baa2/A		250		248,001
Union Pacific Corp., Sr. Unsec. Notes, 3.839%, 03/20/60^(b)	A3/A-		503		386,232
					634,233
TOTAL CORPORATE DEBT SECURITIES (Cost of $157,233,904)					151,707,409
ASSET-BACKED SECURITIES (13.35%)
Aligned Data Centers Issuer LLC, Series 2021-1A, Class A2, 1.937%, 08/15/46, 144A^(b)	NA/A-		904		821,916
Amur Equipment Finance Receivables XI LLC, Series 2022-2A, Class A2, 5.300%, 06/21/28, 144A^(b)	Aaa/NA		65		64,494
Antares CLO, Ltd., Series 2017-1A, Class CR, (TSFR3M + 2.962%), 8.279%, 04/20/33, 144A^(b),(e)	NA/A		1,092		1,085,532
Apidos CLO XXXIX, Ltd., Series 2022-39A, Class A1, (TSFR3M + 1.300%), 6.618%, 04/21/35, 144A^(b),(e)	Aaa/AA+		950		951,575
Auxilior Term Funding LLC, Series 2023-1A, Class A2, 6.180%, 12/15/28, 144A^(b)	Aaa/NA		127		127,682
Avis Budget Rental Car Funding AESOP LLC, Series 2020-1A, Class A, 2.330%, 08/20/26, 144A^(b)	Aaa/NA		255		245,803
Blackbird Capital II Aircraft Lease, Ltd., Series 2021-1A, Class B, 3.446%, 07/15/46, 144A^(b)	Baa1/NA		279		243,082
Cerberus Loan Funding XXXVII LP, Series 2022-1A, Class A1, (TSFR3M + 1.780%), 7.094%, 04/15/34, 144A^(b),(e)	Aaa/NA		1,500		1,490,643
CF Hippolyta Issuer LLC, Series 2020-1, Class A1, 1.690%, 07/15/60, 144A^(b)	NA/A+		612		571,849
Chesapeake Funding II LLC, Series 2023-2A, Class A1, 6.160%, 10/15/35, 144A^(b)	Aaa/NA		136		137,131
Daimler Trucks Retail Trust, Series 2023-1, Class A3, 5.900%, 03/15/27^(b)	Aaa/NA		428		431,701
DataBank Issuer, Series 2021-2A, Class A2, 2.400%, 10/25/51, 144A^(b)	NA/NA		583		521,326
DB Master Finance LLC, Series 2021-1A, Class A2I, 2.045%, 11/20/51, 144A^(b)	NA/BBB		594		544,129
Domino’s Pizza Master Issuer LLC, Series 2021-1A, Class A2I, 2.662%, 04/25/51, 144A^(b)	NA/BBB+		537		477,729
Eaton Vance CLO, Ltd., Series 2020-1A, Class AR, (TSFR3M + 1.432%), 6.746%, 10/15/34, 144A^(b),(e)	NA/AAA		1,500		1,503,327
Flexential Issuer, Series 2021-1A, Class A2, 3.250%, 11/27/51, 144A^(b)	NA/NA		555		503,116
Ford Credit Auto Owner Trust, Series 2022-C, Class B, 5.030%, 02/15/28^(b)	Aaa/AA+		565		562,166
Ford Credit Auto Owner Trust, Series 2024-1, Class A, 4.870%, 08/15/36, 144A^(b)	NA/AAA		255		254,630
Fortress Credit Opportunities IX CLO, Ltd., Series 2017-9A, Class A1TR, (TSFR3M + 1.812%), 7.126%, 10/15/33, 144A^(b),(e)	NA/AAA		600		597,807
Fortress Credit Opportunities XVII CLO, Ltd., Series 2022-17A, Class A, (TSFR3M + 1.370%), 6.684%, 01/15/30, 144A^(b),(e)	NA/AAA		253		252,898
Golub Capital Partners CLO 36m, Ltd., Series 2018-36A, Class C, (TSFR3M + 2.362%), 7.634%, 02/05/31, 144A^(b),(e)	NA/A		2,250		2,220,455
Hilton Grand Vacations Trust, Series 2023-1A, Class A, 5.720%, 01/25/38, 144A^(b)	Aaa/AAA		83		83,941
ITE Rail Fund Levered LP, Series 2021-1A, Class A, 2.250%, 02/28/51, 144A^(b)	NA/A		175		155,685
IVY Hill Middle Market Credit Fund XII, Ltd., Series 12A, Class BR, (TSFR3M + 3.162%), 8.479%, 07/20/33, 144A^(b),(e)	NA/A-		866		849,859

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
ASSET-BACKED SECURITIES (Continued)
Marlette Funding Trust, Series 2022-3A, Class A, 5.180%, 11/15/32, 144A^(b)	NA/NA	$	15	$	14,944
MCF CLO IX, Ltd., Series 2019-1A, Class A1RR, (TSFR3M + 2.000%), 7.292%, 04/17/36, 144A^(b),(e)	NA/AAA		550		550,000
MF1, Ltd., Series 2021-FL7, Class AS, (TSFR1M + 1.564%), 6.891%, 10/16/36, 144A^(b),(e)	NA/NA		922		904,791
MF1, Ltd., Series 2022-FL8, Class C, (TSFR1M + 2.200%), 7.526%, 02/19/37, 144A^(b),(e)	NA/NA		448		431,279
Navient Private Education Refi Loan Trust, Series 2021-A, Class A, 0.840%, 05/15/69, 144A^(b)	NA/AAA		82		72,372
Neuberger Berman Loan Advisers CLO 47, Ltd., Series 2022-47A, Class A, (TSFR3M + 1.300%), 6.617%, 04/14/35, 144A^(b),(e)	Aaa/NA		937		937,391
New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.910%, 10/20/61, 144A^(b)	NA/A		1,063		931,214
PMT Issuer Trust - FMSR, Series 2021-FT1, Class A, (TSFR1M + 3.115%), 8.444%, 03/25/26, 144A^(b),(e)	NA/NA		566		571,709
Purewest Funding LLC, Series 2021-1, Class A1, 4.091%, 12/22/36, 144A^(b)	NA/NA		133		128,322
Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.740%, 10/16/28^(b)	Aaa/AA+		352		347,794
SFS Auto Receivables Securitization Trust, Series 2023-1A, Class A2A, 5.890%, 03/22/27, 144A^(b)	Aaa/AAA		153		153,547
Slam, Ltd., Series 2021-1A, Class A, 2.434%, 06/15/46, 144A^(b)	A1/NA		1,114		972,772
SMB Private Education Loan Trust, Series 2017-B, Class A2B, (TSFR1M + 0.864%), 6.190%, 10/15/35, 144A^(b),(e)	Aaa/AAA		170		169,064
Sofi Professional Loan Program LLC, Series 2017-C, Class B, 3.560%, 07/25/40, 144A^(b),(e)	NA/AAA		998		960,561
Tesla Auto Lease Trust, Series 2023-B, Class A3, 6.130%, 09/21/26, 144A^(b)	Aaa/NA		449		453,132
Textainer Marine Containers VII, Ltd., Series 2021-1A, Class A, 1.680%, 02/20/46, 144A^(b)	NA/A		776		684,963
TIF Funding II LLC, Series 2021-1A, Class A, 1.650%, 02/20/46, 144A^(b)	NA/A+		413		358,318
TIF Funding III LLC, Series 2024-1A, Class A, 5.480%, 05/22/34, 144A^(b)	NA/(P)AA		422		424,510
United States Small Business Administration, Series 2010-20F, Class 1, 3.880%, 06/01/30	Aaa/AA+		29		27,774
Willis Engine Structured Trust IV, Series 2018-A, Class A, 4.750%, 09/15/43, 144A^(b),(h)	NA/A		977		932,464
Willis Engine Structured Trust VI, Series 2021-A, Class A, 3.104%, 05/15/46, 144A^(b)	NA/NA		608		520,128
TOTAL ASSET-BACKED SECURITIES (Cost of $26,296,917)					25,245,525
COMMERCIAL MORTGAGE-BACKED SECURITIES (1.03%)
BXHPP Trust, Series 2021-FILM, Class C, (TSFR1M + 1.214%), 6.539%, 08/15/36, 144A^(e)	NA/NA		167		156,127
COLT Mortgage Loan Trust, Series 2023-3, Class A2, 7.432%, 09/25/68, 144A^(b),(h)	NA/NA		258		261,030
Cross Mortgage Trust, Series 2024-H2, Class A2, 6.417%, 04/25/69, 144A^(b),(h)	NA/NA		317		317,845
JP Morgan Mortgage Trust, Series 2024-CES1, Class A2, 6.148%, 06/25/54, 144A^(b),(e)	NA/NA		195		195,497
New Residential Mortgage Loan Trust, Series 2021-NQ2R, Class A1, 0.941%, 10/25/58, 144A^(b),(e)	NA/NA		153		139,047
New Residential Mortgage Loan Trust, Series 2022-NQM1, Class A1, 2.277%, 04/25/61, 144A^(b),(e)	NA/NA		856		732,677
RCKT Mortgage Trust, Series 2024-CES2, Class A2, 6.389%, 04/25/44, 144A^(b)	NA/NA		148		147,529
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost of $2,094,278)					1,949,752
RESIDENTIAL MORTGAGE-BACKED SECURITIES (0.10%)
FHLMC Pool #A15675, 6.000%, 11/01/33	Aaa/AA+		27		28,413
FNMA Pool #754791, 6.500%, 12/01/33	Aaa/AA+		107		111,362
FNMA Pool #763852, 5.500%, 02/01/34	Aaa/AA+		48		48,993
GNSF Pool #417239, 7.000%, 02/15/26	Aaa/AA+		1		647
TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES (Cost of $175,857)					189,415
MUNICIPAL BONDS (1.21%)
City of San Francisco CA Public Utilities Commission Water Revenue, Build America Bonds, 6.000%, 11/01/40	Aa2/AA-		145		152,249
State of California, Build America Bonds, GO, 7.625%, 03/01/40	Aa2/AA-		1,500		1,829,527
University of Michigan, 3.599%, 04/01/47	Aaa/AAA		365		311,403
TOTAL MUNICIPAL BONDS (Cost of $2,040,042)					2,293,179

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS — continued

	Moody’s/ Standard & Poor’s Rating^(a)	Principal Amount (000’s)		Value (Note1)
U.S. TREASURY OBLIGATIONS (0.59%)
United States Treasury Bonds, 4.750%, 11/15/43	Aaa/AA+	$	385	$	399,979
United States Treasury Notes, 4.375%, 11/30/28	Aaa/AA+		318		319,851
United States Treasury Notes, 4.250%, 02/28/29	Aaa/AA+		125		125,234
United States Treasury Notes, 4.375%, 11/30/30	Aaa/AA+		158		159,426
United States Treasury Notes, 4.500%, 11/15/33	Aaa/AA+		111		113,567
TOTAL U.S. TREASURY OBLIGATIONS (Cost of $1,117,262)					1,118,057
GOVERNMENT BONDS (1.87%)
Colombia Government International Bond, Sr. Unsec. Notes, 8.750%, 11/14/53^(b)	Baa2/BB+		335		363,771
Hungary Government International Bond, Sr. Unsec. Notes, 6.750%, 09/25/52, 144A	Baa2/BBB-		200		214,280
Israel Government International Bond, Sr. Unsec. Notes, 5.750%, 03/12/54	A2/AA-		1,208		1,157,481
Panama Government International Bond, Sr. Unsec. Notes, 7.500%, 03/01/31^(b)	Baa3/BBB		400		418,526
Republic of Poland Government International Bond, Sr. Unsec. Notes, 5.500%, 03/18/54^(b)	A2/A-		722		717,076
Saudi Government International Bond, Sr. Unsec. Notes, 5.500%, 10/25/32, 144A	A1/NA		631		653,219
TOTAL GOVERNMENT BONDS (Cost of $3,454,226)					3,524,353
TOTAL INVESTMENTS (98.35%) (Cost of $192,412,486)					186,027,690
OTHER ASSETS AND LIABILITIES (1.65%)					3,130,364
NET ASSETS (100.00%)				$	189,158,054

At March 31, 2024, the Fund had the following open futures contracts:

Long Futures Outstanding

Expiration Month

SEC Form N-CSR filed by Insight Select Income Fund