Aerospace & Defense — 1.2%

United Technologies Corp.⁽¹⁾

Air Freight & Logistics — 1.6%

C.H. Robinson Worldwide, Inc.⁽¹⁾

Auto Components — 1.3%

Goodyear Tire & Rubber Co. (The)⁽¹⁾

Banks — 10.2%

First Republic Bank⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

KeyCorp

U.S. Bancorp⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Beverages — 0.6%

PepsiCo, Inc.

Biotechnology — 0.4%

Biogen, Inc.⁽²⁾

Capital Markets — 5.2%

Charles Schwab Corp. (The)

Credit Suisse Group AG⁽¹⁾

Credit Suisse Group AG⁽¹⁾⁽³⁾

E*TRADE Financial Corp.⁽²⁾

Goldman Sachs Group, Inc. (The)⁽¹⁾

Lazard, Ltd., Class A

Chemicals — 1.5%

PPG Industries, Inc.⁽¹⁾

Containers & Packaging — 1.0%

International Paper Co.

Diversified Telecommunication Services — 3.0%

Verizon Communications, Inc.⁽¹⁾

Electric Utilities — 3.9%

NextEra Energy, Inc.⁽¹⁾

PG&E Corp.⁽¹⁾

Electrical Equipment — 1.5%

Hubbell, Inc.⁽¹⁾

Electronic Equipment, Instruments & Components — 0.3%

CDW Corp.

Energy Equipment & Services — 3.5%

Halliburton Co.

Oceaneering International, Inc.

Schlumberger, Ltd.⁽¹⁾

Equity Real Estate Investment Trusts (REITs) — 4.0%

Equity Residential⁽¹⁾

Federal Realty Investment Trust⁽¹⁾

Public Storage

Simon Property Group, Inc.

Food & Staples Retailing — 1.1%

Kroger Co. (The)⁽¹⁾

Food Products — 1.9%

General Mills, Inc.⁽¹⁾

Kellogg Co.⁽¹⁾

Health Care Equipment & Supplies — 1.4%

Zimmer Biomet Holdings, Inc.⁽¹⁾

Health Care Providers & Services — 0.8%

Aetna, Inc.

Household Durables — 0.9%

Whirlpool Corp.

Household Products — 0.8%

Procter & Gamble Co. (The)

Industrial Conglomerates — 3.5%

General Electric Co.⁽¹⁾

Insurance — 4.4%

Alleghany Corp.⁽¹⁾⁽²⁾

American Financial Group, Inc.⁽¹⁾

Chubb, Ltd.⁽¹⁾

WR Berkley Corp.⁽¹⁾

Internet Software & Services — 2.5%

Alphabet, Inc., Class C⁽¹⁾⁽²⁾

eBay, Inc.⁽¹⁾⁽²⁾

IT Services — 1.5%

Visa, Inc., Class A⁽¹⁾

Life Sciences Tools & Services — 0.7%

Thermo Fisher Scientific, Inc.⁽¹⁾

Machinery — 2.1%

Caterpillar, Inc.⁽¹⁾

Trinity Industries, Inc.

Multi-Utilities — 1.9%

Sempra Energy⁽¹⁾

Oil, Gas & Consumable Fuels — 9.5%

Anadarko Petroleum Corp.

Chevron Corp.⁽¹⁾

EOG Resources, Inc.⁽¹⁾

Exxon Mobil Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Pioneer Natural Resources Co.

Pharmaceuticals — 8.6%

Allergan PLC⁽¹⁾⁽²⁾

Eli Lilly & Co.⁽¹⁾

Johnson & Johnson⁽¹⁾

Pfizer, Inc.⁽¹⁾

Zoetis, Inc.

Semiconductors & Semiconductor Equipment — 2.6%

Intel Corp.⁽¹⁾

NXP Semiconductors NV⁽²⁾

Specialty Retail — 2.3%

Home Depot, Inc. (The)⁽¹⁾

L Brands, Inc.

Sally Beauty Holdings, Inc.⁽²⁾

Technology Hardware, Storage & Peripherals — 1.8%

Apple, Inc.⁽¹⁾

Tobacco — 1.8%

Altria Group, Inc.⁽¹⁾

Total Common Stocks
(identified cost $1,233,157,667)

Preferred Stocks — 13.2%

Banks — 6.6%

AgriBank FCB, 6.875% to 1/1/24⁽⁴⁾

CoBank ACB, Series F, 6.25% to 10/1/22⁽⁴⁾

Farm Credit Bank of Texas, 6.75% to 9/15/23⁽⁴⁾

Farm Credit Bank of Texas, Series 1, 10.00%

First Tennessee Bank NA, 3.75%⁽⁵⁾⁽⁶⁾

Huntington Bancshares, Inc., Series A, 8.50% (Convertible)

IBERIABANK Corp., Series C, 6.60% to 5/1/26⁽⁴⁾

KeyCorp, Series A, 7.75% (Convertible)

People’s United Financial, Inc., Series A, 5.625% to 12/15/26⁽⁴⁾

Regions Financial Corp., Series A, 6.375%

SunTrust Banks, Inc., Series E, 5.875%

Texas Capital Bancshares, Inc., 6.50%

Texas Capital Bancshares, Inc., Series A, 6.50%

Webster Financial Corp., Series E, 6.40%

Wells Fargo & Co., Series L, 7.50% (Convertible)

Capital Markets — 0.4%

Goldman Sachs Group, Inc. (The), Series N, 6.30%

KKR & Co., LP, Series A, 6.75%

State Street Corp., Series D, 5.90% to 3/15/24⁽⁴⁾

Consumer Finance — 0.6%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 0.7%

KKR Financial Holdings, LLC, Series A, 7.375%

Electric Utilities — 1.2%

NextEra Energy Capital Holdings, Inc., Series G, 5.70%

NextEra Energy Capital Holdings, Inc., Series I, 5.125%

NextEra Energy Capital Holdings, Inc., Series K, 5.25%

Southern Co. (The), 6.25%

Equity Real Estate Investment Trusts (REITs) — 0.8%

DDR Corp., Series J, 6.50%

DDR Corp., Series K, 6.25%

Vornado Realty Trust, Series K, 5.70%

Food Products — 1.0%

Dairy Farmers of America, Inc., 7.875%⁽⁵⁾

Ocean Spray Cranberries, Inc., 6.25%⁽⁵⁾

Insurance — 0.2%

American Overseas Group, Ltd., Series A, 7.50% to 12/15/16⁽⁴⁾⁽⁸⁾

Machinery — 0.5%

Stanley Black & Decker, Inc., 5.75%

Multi-Utilities — 0.1%

DTE Energy Co., Series C, 5.25%

Pipelines — 0.4%

NuStar Logistics LP, 7.625% to 1/15/18⁽⁴⁾

Thrifts & Mortgage Finance — 0.7%

Elmira Savings Bank, 8.998% to 12/31/17⁽⁴⁾

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $206,610,848)

Corporate Bonds & Notes — 18.0%

Banks — 7.1%

Australia and New Zealand Banking Group, Ltd., 6.75% to 6/15/26^(4)(5)(7)

Banco do Brasil SA, 9.00% to 6/18/24^(4)(5)(7)

Bank of America Corp., Series AA, 6.10% to 3/17/25⁽⁴⁾⁽⁷⁾

Barclays PLC, 8.25% to 12/15/18⁽⁴⁾⁽⁷⁾

Caixa Economica Federal, 7.25% to 7/23/19, 7/23/24⁽⁴⁾⁽⁵⁾

Citigroup, Inc., Series T, 6.25% to 8/15/26⁽⁴⁾⁽⁷⁾

Credit Agricole SA, 7.875% to 1/23/24^(4)(5)(7)

Deutsche Bank AG, 7.50% to 4/30/25⁽⁴⁾⁽⁷⁾

JPMorgan Chase & Co., Series X, 6.10% to 10/1/24⁽⁴⁾⁽⁷⁾

JPMorgan Chase & Co., Series Z, 5.30% to 5/1/20⁽⁴⁾⁽⁷⁾

Lloyds Banking Group PLC, 7.50% to 6/27/24⁽⁴⁾⁽⁷⁾

M&T Bank Corp., Series F, 5.125% to 11/1/26⁽⁴⁾⁽⁷⁾

PNC Financial Services Group, Inc. (The), Series S, 5.00% to 11/1/26⁽⁴⁾⁽⁷⁾

Royal Bank of Scotland Group PLC, 8.00% to 8/10/25⁽⁴⁾⁽⁷⁾

Standard Chartered PLC, 7.014% to 7/30/37^(4)(5)(7)

Zions Bancorporation, Series I, 5.80% to 9/15/23⁽⁴⁾⁽⁷⁾

Zions Bancorporation, Series J, 7.20% to 9/15/23⁽⁴⁾⁽⁷⁾

Capital Markets — 2.3%

Goldman Sachs Group, Inc. (The), Series M, 5.375% to 5/10/20⁽⁴⁾⁽⁷⁾

Morgan Stanley, Series J, 5.55% to 7/15/20⁽⁴⁾⁽⁷⁾

UBS Group AG, 6.875% to 8/7/25^(4)(7)(9)

Diversified Financial Services — 1.0%

Cadence Financial Corp., 4.875%, 6/28/19⁽⁵⁾

Leucadia National Corp., 6.625%, 10/23/43

Textron Financial Corp., 6.00% to 2/15/17, 2/15/67⁽⁴⁾⁽⁵⁾

Electric Utilities — 2.5%

AES Gener SA, 8.375% to 6/18/19, 12/18/73⁽⁴⁾⁽⁵⁾

AES Panama SA, 6.00%, 6/25/22⁽⁵⁾

Emera, Inc., Series 16-A, 6.75% to 6/15/26, 6/15/76⁽⁴⁾

NextEra Energy Capital Holdings, Inc., Series D, 7.30% to 9/1/17, 9/1/67⁽⁴⁾

Energy Equipment & Services — 0.0%⁽¹⁰⁾

Abengoa Finance S.A.U., 7.75%, 2/1/20^(5)(11)

Food Products — 0.8%

Land O’ Lakes, Inc., 8.00%⁽⁵⁾⁽⁷⁾

Insurance — 1.8%

Genworth Financial, Inc., 7.625%, 9/24/21

MetLife, Inc., 6.40%, 12/15/66

Voya Financial, Inc., 5.65% to 5/15/23, 5/15/53⁽⁴⁾

XLIT, Ltd., Series E, 6.50% to 4/15/17⁽⁴⁾⁽⁷⁾

Metals & Mining — 0.5%

BHP Billiton Finance USA, Ltd., 6.75% to 10/19/25, 10/19/75⁽⁴⁾⁽⁵⁾

Multi-Utilities — 0.3%

Dominion Resources, Inc., 5.75% to 10/1/24, 10/1/54⁽⁴⁾

Oil, Gas & Consumable Fuels — 0.1%

Odebrecht Oil & Gas Finance, Ltd., 7.00% to 6/17/24^{(4)(5)(7)(11)}

Pipelines — 0.3%

Transcanada Trust, Series 16-A, 5.875% to 8/15/26⁽⁴⁾

Telecommunications — 1.1%

Colombia Telecomunicaciones SA ESP, 8.50% to 3/30/20^(4)(5)(7)

Thrifts & Mortgage Finance — 0.2%

Flagstar Bancorp, Inc., 6.125%, 7/15/21⁽⁵⁾

Total Corporate Bonds & Notes
(identified cost $295,534,040)

Exchange-Traded Funds — 4.0%

Equity Funds — 4.0%

iShares U.S. Preferred Stock ETF

Total Exchange-Traded Funds
(identified cost $64,784,370)

Short-Term Investments — 2.3%

Total Short-Term Investments
(identified cost $35,487,086)

Total Investments — 126.8%
(identified cost $1,835,574,011)

Other Assets, Less Liabilities — (26.8)%

Net Assets — 100.0%

United States

United Kingdom

Switzerland

Canada

Colombia

Ireland

Bermuda

Chile

Brazil

Australia

Netherlands

Germany

France

Panama

Spain

Exchange-Traded Funds

Total Investments

Aggregate cost

Gross unrealized appreciation

Gross unrealized depreciation

Net unrealized appreciation

Level 1 — quoted prices in active markets for identical investments

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

Common Stocks

Consumer Discretionary