Ultra Short Bond Fund

LUBVX

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Daily price w/o sales charge as of 09/20/2019

$10.03

$0.01

YTD Returns w/o sales charge as of 09/20/2019

2.36%

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Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

7 Day Yield ^1,4 as of 09/20/2019

	Subsidized³	Un-Subsidized³
w/o sales charge	2.39%	2.32%

30-Day Standardized Yield ² as of 08/31/2019

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.35%	2.27%

Fund Basicsas of 08/30/2019

Total Net Assets: $18.26 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.34%
Fund Net Expense Ratio: 0.27%
Number of Holdings: 640

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.22%	2.88%	-	-	-	2.13%
Lipper Category Avg. Ultra-Short Obligations Funds	2.27%	2.74%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.69%	2.44%	-	-	-	1.55%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	1.78%	2.86%	-	-	-	2.10%
Lipper Category Avg. Ultra-Short Obligations Funds	1.77%	2.68%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.30%	2.39%	-	-	-	1.50%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Credit Quality Distribution as of 08/30/2019 View Portfolio

Rating	Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Adam C. Castle, CFA

Portfolio Manager

11 Years of Industry Experience

Yoana Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Supported By 67 Investment Professionals with 15 Years Avg. Industry Experience

Your Representative

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Performance

NAV HISTORICAL PRICES

Date	Net Asset Value

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.22%	2.88%	-	-	-	2.13%
Lipper Category Avg. Ultra-Short Obligations Funds	2.27%	2.74%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.69%	2.44%	-	-	-	1.55%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	1.78%	2.86%	-	-	-	2.10%
Lipper Category Avg. Ultra-Short Obligations Funds	1.77%	2.68%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.30%	2.39%	-	-	-	1.50%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Year	Fund Returns	ICE BofAML U.S. Treasury Bill Index

2018	2.10%	1.88%
2017	1.60%	0.82%
2016	0.19%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2019	1.00%	0.78%	-	-	2.37%
2018	0.36%	0.67%	0.61%	0.44%	2.10%
2017	0.40%	0.44%	0.37%	0.39%	1.60%
2016	-	-	-	-	0.19%

Portfolio

Type	Assets
Corp Floating
Commercial Paper
ABS
U.S. Government Related
Corp Fixed Rate
Other
Cash

Maturity	Assets
Less than 1 year
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 08/30/2019

Rating	Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

Portfolio Positioning as of 06/30/2019

The portfolio maintained its diversified exposure beyond the Treasury securities represented in its benchmark, the ICE BofA Merrill Lynch U.S. Treasury Bill Index. The portfolio primarily invests in investment grade bonds with floating rate coupons, asset-backed securities, and commercial paper, all with short maturities. We favor these asset classes as we believe they exhibit attractive risk-adjusted carry opportunities.
The 3-month London Interbank Offered Rate (“LIBOR”) declined during the period, ending the quarter at 2.32%, 28 basis points lower than levels seen last quarter. Falling LIBOR rates can result in lower coupon income generated by the strategy as a large portion of the portfolio is allocated to securities with floating rate coupons that are tied to LIBOR.
We increased the portfolio’s allocation to high quality floating rate notes, as we found more attractive opportunities within this space following the volatility and spread widening that occurred in May. We continue to maintain a large position within the financials sector, as much of the asset class is comprised of financial issuers. Specifically, we are attracted to issuers that have improved credit quality relative to pre-crisis periods given more robust underlying mortgage assets, more conservative management teams, and stricter regulations.
We also increased the portfolio’s allocation to commercial paper, specifically adding to commercial paper securities with longer durations.
We modestly reduced the portfolio’s allocation to asset-backed securities (“ABS”). While we continue to remain attracted to auto loan ABS, as we believe these securities offer more attractive risk-adjusted spread opportunities than other sectors within ABS, we reduced the portfolio’s allocation to take advantage of spread widening within floating rate notes.

Portfolio Details as of 08/30/2019

Total Net Assets: $18.26 B
Number of Issues: 640
Average Coupon: 2.06%
Average Life: 0.87 Years
Average Effective Duration: 0.22 Years

To view definitions for the above Portfolio Details, Click here.

Holding	Coupon	Maturity	Assets

Goldman Sachs Group, Inc.	3.752%	04/23/2020	1.4%
Morgan Stanley	3.095%	02/10/2021	1.3%
Bank of America Corp.	3.252%	07/21/2021	1.3%
Citigroup, Inc.	3.374%	01/10/2020	1.1%
Energy Transfer Partners L.P.	0.000%	09/03/2019	0.9%
Federal Home Loan Bank	0.000%	09/06/2019	0.9%
Jabil, Inc.	0.000%	11/25/2019	0.9%
AutoNation, Inc.	0.000%	09/06/2019	0.8%
Wells Fargo & Co.	3.472%	07/22/2020	0.8%
Glencore Funding LLC	0.000%	09/13/2019	0.8%

% of Total Assets			10.2%

Holding	Coupon	Maturity	Assets

J.P.Morgan Securities LLC	0.010%	-	1.7%
Goldman Sachs Group, Inc.	3.752%	04/23/2020	1.4%
Morgan Stanley	3.247%	02/10/2021	1.3%
Bank of America Corp.	3.252%	07/21/2021	1.3%
Citigroup, Inc.	3.374%	01/10/2020	1.1%
Energy Transfer Partners L.P.	0.000%	08/01/2019	1.0%
Noble Energy, Inc.	0.000%	08/01/2019	1.0%
United States Treasury Bill	0.000%	08/27/2019	0.9%
Federal Home Loan Bank	0.000%	09/06/2019	0.9%
Wells Fargo & Co.	3.472%	07/22/2020	0.8%
JPMorgan Chase & Co.	3.306%	06/01/2021	0.8%
Broadcom Inc	0.000%	08/13/2019	0.8%
Volkswagen Group of America Finance LLC	3.458%	11/13/2020	0.7%
Ford Credit Auto Owner Trust 2014-REV2	2.310%	04/15/2026	0.7%
Dollar Tree, Inc.	3.288%	04/17/2020	0.7%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.7%
Bank of America NA	2.879%	08/28/2020	0.6%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.6%
Bank of America NA	2.875%	05/24/2021	0.6%
Exeter Automobile Receivables Trust 2019-3	2.590%	09/15/2022	0.6%
JPMorgan Chase & Co.	3.151%	03/09/2021	0.5%
Morgan Stanley	3.772%	01/20/2022	0.5%
JPMorgan Chase Bank NA	2.890%	02/19/2021	0.5%
Daimler Finance North America LLC	3.235%	11/05/2021	0.5%
Crown Castle International Corp.	0.000%	08/07/2019	0.5%
VW Credit, Inc.	0.000%	10/04/2019	0.5%
Wells Fargo Bank, N.A.	2.827%	01/15/2020	0.5%
Comcast Corp.	2.922%	10/01/2020	0.5%
Capital One Multi-Asset Execution Trust	1.990%	07/17/2023	0.5%
NBCUniversal Enterprise, Inc.	2.992%	04/01/2021	0.5%
Dominion Resources, Inc.	0.000%	08/08/2019	0.5%
GE Capital Credit Card Master Note Trust	1.760%	09/15/2022	0.5%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.5%
Jackson National Life Global Funding	2.897%	10/15/2020	0.4%
Bank of America NA	2.587%	07/26/2021	0.4%
Chesapeake Funding II LLC	2.805%	01/15/2031	0.4%
Metropolitan Life Global Funding I	2.819%	01/08/2021	0.4%
Cigna Corp	2.965%	03/17/2020	0.4%
Toronto-Dominion Bank	2.875%	09/17/2020	0.4%
Wells Fargo & Co.	3.263%	01/30/2020	0.4%
Broadcom Inc	0.000%	08/08/2019	0.4%
Enbridge US Inc	0.000%	08/14/2019	0.4%
AutoNation, Inc.	0.000%	08/01/2019	0.4%
Royal Caribbean Cruises Ltd.	0.000%	08/07/2019	0.4%
Royal Caribbean Cruises Ltd.	0.000%	08/21/2019	0.4%
JPMorgan Chase Bank NA	2.856%	09/01/2020	0.4%
HSBC Holdings plc	3.247%	09/11/2021	0.4%
PNC Bank NA	2.947%	03/12/2021	0.4%
Cigna Corp	0.000%	09/18/2019	0.4%
Citibank, Inc.	3.213%	02/19/2022	0.4%
Royal Bank of Canada	2.980%	01/25/2021	0.4%
American Honda Finance Corp.	2.872%	10/19/2020	0.4%
American Honda Finance Corp.	2.851%	06/27/2022	0.4%
Zimmer Biomet Holdings, Inc.	3.375%	03/19/2021	0.4%
Wells Fargo Bank, N.A.	3.092%	07/23/2021	0.4%
Sempra Global	0.000%	08/19/2019	0.4%
PNC Bank NA	2.708%	07/22/2022	0.4%
EnCana Corp.	0.000%	08/26/2019	0.4%
BA Credit Card Trust	1.840%	01/17/2023	0.4%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	0.4%
Toronto-Dominion Bank	2.700%	07/30/2021	0.4%
Citibank, Inc.	3.162%	07/23/2021	0.4%
Honda Auto Receivables 2019-1 Owner Trust	2.750%	09/20/2021	0.3%
Caterpillar Financial Services Corp.	2.896%	08/26/2020	0.3%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.3%
HSBC Holdings plc	3.283%	05/18/2021	0.3%
FMC Corp.	0.000%	08/08/2019	0.3%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.3%
Goldman Sachs Group, Inc.	3.408%	12/13/2019	0.3%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.3%
EnCana Corp.	0.000%	08/14/2019	0.3%
IBM Credit LLC	2.994%	11/30/2020	0.3%
BMW US Capital LLC	3.188%	08/13/2021	0.3%
JPMorgan Chase & Co.	4.106%	03/01/2021	0.3%
Florida Power & Light Co.	2.965%	05/06/2022	0.3%
General Electric Co.	3.212%	01/09/2020	0.3%
Molson Coors Brewing Co.	0.000%	08/09/2019	0.3%
General Motors Financial Co., Inc.	0.000%	09/09/2019	0.3%
Arrow Electronics, Inc.	0.000%	08/01/2019	0.3%
Sempra Global	0.000%	09/19/2019	0.3%
Nissan Motor Acceptance Corp.	3.016%	09/21/2021	0.3%
Citigroup, Inc.	3.981%	03/30/2021	0.3%
Master Credit Card Trust II	2.260%	07/21/2021	0.3%
National Australia Bank Ltd.	2.954%	01/12/2021	0.3%
Bank of Montreal	2.937%	07/13/2020	0.3%
Sempra Global	0.000%	09/24/2019	0.3%
Royal Caribbean Cruises Ltd.	0.000%	08/02/2019	0.3%
World Financial Network Credit Card Master Trust	1.980%	06/15/2023	0.3%
Golden Credit Card Trust	2.775%	12/15/2022	0.3%
Toyota Motor Credit Corp.	2.543%	07/15/2020	0.3%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.3%
LyondellBasell Investment LLC	0.000%	08/27/2019	0.3%
National Bank of Canada	3.157%	06/12/2020	0.3%
NextEra Energy Capital Holdings, Inc.	3.179%	08/28/2021	0.3%
Discover Card Execution Note Trust	2.815%	07/15/2024	0.3%
Huntington National Bank	3.115%	02/05/2021	0.3%
Marriott International, Inc.	3.226%	12/01/2020	0.3%
Union Bank N.A.	3.207%	03/07/2022	0.3%
Bank of Montreal	2.992%	01/22/2021	0.3%
Sumitomo Mitsui Banking Corp	2.971%	10/16/2020	0.3%
John Deere Capital Corp.	3.004%	07/10/2020	0.3%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.3%
Jackson National Life Global Funding	2.909%	03/16/2021	0.3%
Caterpillar Financial Services Corp.	2.915%	05/17/2021	0.3%
American Express Credit Account Master Trust	1.930%	09/15/2022	0.3%
Santander Drive Auto Receivables Trust 2018-4	3.270%	01/17/2023	0.3%
Eni Finance USA, Inc.	0.000%	08/02/2019	0.3%
BP Capital Markets plc	2.775%	11/24/2020	0.3%
BMW US Capital LLC	3.014%	04/12/2021	0.3%
Boston Scientific Corp.	0.000%	08/15/2019	0.3%
Royal Bank of Canada	2.653%	07/08/2021	0.3%
Bank of New York Mellon/The	2.783%	06/04/2021	0.3%
PNC Bank NA	2.763%	06/10/2021	0.3%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.3%
Campbell Soup Co.	0.000%	09/04/2019	0.3%
FMC Corp.	0.000%	08/05/2019	0.3%
Humana, Inc.	0.000%	08/09/2019	0.3%
Crown Castle International Corp.	0.000%	08/02/2019	0.3%
Arrow Electronics, Inc.	0.000%	08/27/2019	0.3%
Humana, Inc.	0.000%	08/29/2019	0.3%
Arrow Electronics, Inc.	0.000%	09/06/2019	0.3%
Cigna Corp	0.000%	09/17/2019	0.3%
Southern Power Co	3.183%	12/20/2020	0.3%
Humana, Inc.	0.000%	10/02/2019	0.3%
General Motors Financial Co., Inc.	0.000%	08/16/2019	0.3%
American Express Co.	3.140%	05/20/2022	0.3%
Nissan Master Owner Trust Receivables	2.755%	04/18/2022	0.3%
Citibank, Inc.	3.123%	05/20/2022	0.3%
Boston Scientific Corp.	0.000%	08/12/2019	0.3%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.2%
Eni Finance USA, Inc.	0.000%	08/15/2019	0.2%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.2%
Regions Bank, Birmingham, AL	3.188%	08/13/2021	0.2%
Newell Rubbermaid, Inc.	0.000%	09/13/2019	0.2%
EnCana Corp.	0.000%	08/20/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	4.540%	11/15/2022	0.2%
Enable Midstream Partners L.P.	0.000%	08/05/2019	0.2%
CRH America Finance, Inc.	0.000%	09/25/2019	0.2%
Bank of America Corp.	3.242%	10/01/2021	0.2%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.2%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.2%
Manufacturers & Traders Trust Co	3.617%	12/28/2020	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
FMC Corp.	0.000%	08/07/2019	0.2%
GE Dealer Floorplan Master Note Trust	2.922%	01/20/2022	0.2%
Ford Motor Credit Co. LLC	3.592%	01/09/2020	0.2%
USAA Auto Owner Trust	2.260%	02/15/2022	0.2%
AT&T, Inc.	3.531%	06/30/2020	0.2%
Discover Card Execution Note Trust	1.880%	02/15/2023	0.2%
Santander Drive Auto Receivables Trust 2016-1	5.020%	06/15/2023	0.2%
Wells Fargo Bank, N.A.	3.102%	10/22/2021	0.2%
SunTrust Banks, Inc.	3.115%	05/17/2022	0.2%
Canadian Imperial Bank of Commerce	2.908%	10/05/2020	0.2%
General Motors Financial Co., Inc.	0.000%	08/12/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	3.530%	08/16/2021	0.2%
Daimler Finance North America LLC	3.128%	02/12/2021	0.2%
Martin Marietta Materials, Inc.	3.133%	12/20/2019	0.2%
Campbell Soup Co.	0.000%	08/13/2019	0.2%
New York Life Global Funding	2.780%	07/12/2022	0.2%
Hawaiian Electric Co., Inc.	0.000%	08/08/2019	0.2%
Royal Caribbean Cruises Ltd.	0.000%	08/16/2019	0.2%
Arrow Electronics, Inc.	0.000%	08/20/2019	0.2%
Honeywell International, Inc.	0.000%	08/08/2022	0.2%
EnCana Corp.	0.000%	08/07/2019	0.2%
Enable Midstream Partners L.P.	0.000%	08/15/2019	0.2%
CVS Caremark Corp.	3.231%	03/09/2020	0.2%
CNH Capital LLC	0.000%	11/05/2019	0.2%
Wells Fargo & Co.	3.627%	02/11/2022	0.2%
CNH Capital LLC	0.000%	10/16/2019	0.2%
Discover Card Execution Note Trust	1.390%	03/15/2022	0.2%
BMW US Capital LLC	2.833%	04/14/2022	0.2%
Prestige Auto Receivables Trust 2019-1	2.440%	07/15/2022	0.2%
Goldman Sachs Group, Inc.	3.612%	10/23/2019	0.2%
Constellation Brands, Inc.	3.384%	11/15/2021	0.2%
Viacom, Inc.	0.000%	08/01/2019	0.2%
Daimler Finance North America LLC	3.219%	01/06/2020	0.2%
Boston Scientific Corp.	0.000%	08/20/2019	0.2%
Master Credit Card Trust	2.752%	07/21/2022	0.2%
UBS AG London	3.106%	12/01/2020	0.2%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.2%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.2%
Daimler Finance North America LLC	2.955%	05/04/2020	0.2%
Protective Life Global Funding	3.117%	06/28/2021	0.2%
Toronto-Dominion Bank	3.523%	12/14/2020	0.2%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.2%
Goldman Sachs Group, Inc.	3.696%	04/26/2022	0.2%
KeyBank NA	3.239%	02/01/2022	0.2%
Navistar Financial Dealer Note Master Owner Trust	2.896%	09/25/2023	0.2%
AIG Global Funding	3.242%	01/22/2021	0.2%
Credit Agricole Corporate & Investment Bank SA	2.957%	10/03/2021	0.2%
ConAgra Brands, Inc.	3.342%	10/22/2020	0.2%
First National Master Note Trust 2018-1	2.785%	10/15/2024	0.2%
Southern California Edison Co.	0.000%	08/01/2019	0.2%
Ford Motor Credit Co. LLC	3.484%	10/12/2021	0.2%
Enbridge US Inc	0.000%	09/17/2019	0.2%
International Business Machines Corp.	2.935%	05/13/2021	0.2%
Nissan Motor Acceptance Corp.	3.131%	03/15/2021	0.2%
Energy Transfer Partners L.P.	0.000%	08/02/2019	0.2%
EnCana Corp.	0.000%	08/19/2019	0.2%
Sherwin-Williams Co.	0.000%	08/19/2019	0.2%
Vulcan Materials Co.	3.170%	03/01/2021	0.2%
Branch Banking & Trust Co.	3.181%	06/15/2020	0.2%
Bank of Nova Scotia	2.987%	07/14/2020	0.2%
Synchrony Credit Card Master Note Trust	2.370%	03/15/2023	0.2%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.2%
Synchrony Credit Card Master Note Trust	2.640%	03/15/2023	0.2%
Huntington National Bank	3.111%	03/10/2020	0.2%
Goldman Sachs Group, Inc.	3.339%	12/27/2020	0.2%
Canadian Imperial Bank of Commerce/New York NY	3.043%	09/20/2019	0.2%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.2%
Enbridge US Inc	0.000%	10/15/2019	0.2%
Prestige Auto Receivables Trust 2019-1	2.450%	05/15/2023	0.2%
Americredit Automobile Receivables Trust 2019-1	2.560%	06/20/2022	0.2%
FMC Technologies, Inc.	0.000%	09/20/2019	0.2%
Campbell Soup Co.	3.115%	03/16/2020	0.2%
Citizens Bank N.A.	3.413%	02/14/2022	0.2%
Wells Fargo & Co.	3.843%	03/04/2021	0.2%
New York Life Global Funding	2.885%	08/06/2021	0.2%
ABN Amro Bank NV	3.209%	08/27/2021	0.2%
Bank of Nova Scotia	3.032%	04/20/2021	0.2%
WGL Holdings, Inc.	3.147%	03/12/2020	0.2%
Tyco Electronics Group S.A.	3.049%	06/05/2020	0.2%
Marsh & McLennan Cos., Inc.	3.801%	12/29/2021	0.2%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.2%
WGL Holdings, Inc.	3.029%	11/29/2019	0.2%
AutoNation, Inc.	0.000%	08/02/2019	0.2%
GMF Floorplan Owner Revolving Trust	2.625%	03/15/2022	0.2%
General Motors Financial Co., Inc.	0.000%	08/02/2019	0.2%
Campbell Soup Co.	0.000%	09/05/2019	0.2%
Enable Midstream Partners L.P.	0.000%	08/19/2019	0.2%
Enel Finance America LLC	0.000%	09/19/2019	0.2%
Hawaiian Electric Co., Inc.	0.000%	08/15/2019	0.2%
General Motors Financial Co., Inc.	0.000%	10/03/2019	0.2%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.2%
Enel Finance America LLC	0.000%	08/20/2019	0.2%
Molson Coors Brewing Co.	0.000%	08/08/2019	0.2%
Enel Finance America LLC	0.000%	09/24/2019	0.2%
DLL 2018-2 LLC	3.140%	10/20/2020	0.2%
PFS Financing Corp.	2.725%	02/15/2022	0.2%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.2%
Humana, Inc.	0.000%	10/16/2019	0.2%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.1%
Standard Chartered plc	3.813%	08/19/2019	0.1%
Fifth Third Bank, OH	3.026%	07/26/2021	0.1%
Boston Scientific Corp.	0.000%	08/02/2019	0.1%
Compass Bank	3.331%	06/11/2021	0.1%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.1%
JPMorgan Chase Bank NA	2.926%	04/26/2021	0.1%
Sumitomo Mitsui Banking Corp	2.911%	10/18/2019	0.1%
Santander Drive Auto Receivables Trust 2018-2	3.030%	09/15/2022	0.1%
US Bank NA	2.931%	05/21/2021	0.1%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.1%
American Express Co.	3.165%	11/05/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
TD Ameritrade Holding Corp.	3.009%	11/01/2021	0.1%
Boston Scientific Corp.	0.000%	08/23/2019	0.1%
Toyota Motor Credit Corp.	3.129%	01/08/2021	0.1%
Royal Bank of Canada	3.052%	04/29/2022	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Cigna Corp	0.000%	09/24/2019	0.1%
General Mills, Inc.	3.141%	04/16/2021	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.1%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.1%
American Honda Finance Corp.	2.714%	06/11/2021	0.1%
NextGear Floorplan Master Owner Trust	2.190%	09/15/2021	0.1%
Enbridge US Inc	0.000%	09/11/2019	0.1%
Crown Castle International Corp.	0.000%	08/13/2019	0.1%
Enbridge US Inc	0.000%	08/15/2019	0.1%
Sherwin-Williams Co.	0.000%	08/22/2019	0.1%
Smithfield Foods, Inc.	0.000%	08/26/2019	0.1%
FMC Corp.	0.000%	08/01/2019	0.1%
Eni Finance USA, Inc.	0.000%	11/27/2019	0.1%
Smithfield Foods, Inc.	0.000%	08/19/2019	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.1%
Crown Castle International Corp.	0.000%	08/14/2019	0.1%
Broadcom Inc	0.000%	08/29/2019	0.1%
UBS AG London	3.031%	06/08/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.580%	01/18/2022	0.1%
Martin Marietta Materials, Inc.	3.313%	05/22/2020	0.1%
Bank of Montreal	2.851%	09/11/2019	0.1%
Eni Finance USA, Inc.	0.000%	08/14/2019	0.1%
Manufacturers & Traders Trust Co	3.266%	12/01/2021	0.1%
General Motors Financial Co., Inc.	0.000%	08/06/2019	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
Nissan Motor Acceptance Corp.	2.987%	09/28/2020	0.1%
Boston Scientific Corp.	0.000%	08/22/2019	0.1%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
JPMorgan Chase & Co.	3.547%	01/23/2020	0.1%
Americredit Automobile Receivables Trust 2018-2	2.860%	11/18/2021	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	2.665%	05/15/2023	0.1%
Citigroup, Inc.	3.766%	08/02/2021	0.1%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.1%
Lloyds Bank plc	3.229%	05/07/2021	0.1%
Svenska Handelsbanken/New York NY	2.862%	10/21/2019	0.1%
Harley-Davidson Financial Services Inc	3.141%	05/21/2020	0.1%
Ford Credit Auto Owner Trust 2015-REV1	2.120%	07/15/2026	0.1%
Federation des Caisses Desjardins du Quebec	2.913%	10/30/2020	0.1%
Capital One Multi-Asset Execution Trust	1.330%	06/15/2022	0.1%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.1%
Mitsubishi UFJ Financial Grp, Inc.	3.236%	07/26/2021	0.1%
Gracechurch Card Funding PLC	2.725%	07/15/2022	0.1%
American Express Credit Account Master Trust	1.770%	11/15/2022	0.1%
DuPont de Nemours Inc	3.228%	11/15/2020	0.1%
Goldman Sachs Group, Inc.	4.291%	02/25/2021	0.1%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.1%
Axis Equipment Finance Receivables LLC	2.630%	06/20/2024	0.1%
New York Life Global Funding	2.862%	01/28/2021	0.1%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.1%
John Deere Capital Corp.	2.872%	06/07/2021	0.1%
Boston Scientific Corp.	0.000%	08/14/2019	0.1%
Cintas Corp No 2	0.000%	08/06/2019	0.1%
Canadian Tire Corp Ltd	0.000%	08/07/2019	0.1%
Canadian Tire Corp Ltd	0.000%	09/27/2019	0.1%
General Motors Financial Co., Inc.	0.000%	08/05/2019	0.1%
Morgan Stanley	3.595%	06/16/2020	0.1%
CNH Capital LLC	0.000%	04/17/2020	0.1%
General Motors Financial Co., Inc.	3.872%	10/04/2019	0.1%
Arrow Electronics, Inc.	0.000%	08/16/2019	0.1%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.1%
Santander Drive Auto Receivables Trust 2015-5	3.650%	12/15/2021	0.1%
Enbridge US Inc	0.000%	08/06/2019	0.1%
Sherwin-Williams Co.	0.000%	08/07/2019	0.1%
Eni Finance USA, Inc.	0.000%	09/04/2019	0.1%
American Express Credit Account Master Trust	2.775%	09/16/2024	0.1%
Manufacturers & Traders Trust Co	2.850%	01/25/2021	0.1%
Branch Banking & Trust Co.	3.047%	01/15/2020	0.1%
Barclays Dryrock Issuance Trust	2.625%	05/15/2023	0.1%
Bemis Co., Inc.	0.000%	08/02/2019	0.1%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Vulcan Materials Co.	3.211%	06/15/2020	0.1%
SL Green Operating Partnership L.P.	3.663%	08/16/2021	0.1%
Drive Auto Receivables Trust	3.040%	11/15/2021	0.1%
Ford Motor Credit Co. LLC	3.528%	08/12/2019	0.1%
Toronto-Dominion Bank	2.820%	01/25/2021	0.1%
Textron, Inc.	3.247%	11/10/2020	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.1%
UBS AG	3.333%	08/14/2019	0.1%
Morgan Stanley	3.722%	01/27/2020	0.1%
Enbridge US Inc	0.000%	08/26/2019	0.1%
Nissan Motor Acceptance Corp.	3.193%	01/13/2022	0.1%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.1%
Citibank, Inc.	2.875%	09/18/2019	0.1%
Skandinaviska Enskilda Banken AB	3.178%	09/13/2019	0.1%
EnCana Corp.	0.000%	08/16/2019	0.1%
CRH America Finance, Inc.	0.000%	08/30/2019	0.1%
Ford Motor Credit Co. LLC	3.408%	04/05/2021	0.1%
Discover Card Execution Note Trust	1.900%	10/17/2022	0.1%
General Electric Co.	3.007%	03/28/2020	0.1%
Daimler Finance North America LLC	3.263%	05/05/2020	0.1%
Citigroup, Inc.	3.896%	10/26/2020	0.1%
Danske Bank A/S	3.125%	03/02/2020	0.1%
Siemens Financial Services, Inc.	2.955%	03/16/2020	0.1%
Santander UK plc	3.246%	06/01/2021	0.1%
NextGear Floorplan Master Owner Trust	2.925%	10/15/2023	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Chesapeake Funding II LLC	2.665%	08/15/2029	0.1%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.1%
Bristol-Myers Squibb Co.	2.725%	11/16/2020	0.1%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.1%
Morgan Stanley	3.208%	07/22/2022	0.1%
Enbridge US Inc	0.000%	08/05/2019	0.1%
Mondelez International, Inc.	0.000%	08/28/2019	0.1%
CRH America Finance, Inc.	0.000%	09/27/2019	0.1%
CRH America Finance, Inc.	0.000%	09/30/2019	0.1%
Deutsche Telekom International Finance	3.075%	09/19/2019	0.1%
CNH Capital LLC	0.000%	10/22/2019	0.1%
Daimler Finance North America LLC	3.403%	02/22/2022	0.1%
Bank of Montreal	3.197%	12/12/2019	0.1%
Santander Drive Auto Receivables Trust 2016-2	4.380%	09/15/2023	0.1%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.1%
Capital One Multi-Asset Execution Trust	2.835%	09/16/2024	0.1%
Chase Issuance Trust	1.580%	08/15/2021	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
SunTrust Banks, Inc.	3.086%	10/26/2021	0.1%
Chase Issuance Trust	2.525%	04/17/2023	0.1%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.1%
Nissan Motor Acceptance Corp.	3.128%	09/13/2019	0.1%
Santander Drive Auto Receivables Trust 2018-5	3.520%	12/15/2022	0.1%
General Electric Co.	3.397%	04/15/2020	0.1%
Americredit Automobile Receivables Trust 2018-3	2.550%	01/18/2022	0.1%
Citizens Bank N.A.	3.155%	03/02/2020	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.1%
Danske Bank A/S	3.188%	09/06/2019	0.1%
ACC Trust 2019-1	3.750%	05/20/2022	0.1%
AIG Global Funding	2.800%	07/02/2020	0.1%
Sempra Energy	3.097%	01/15/2021	0.1%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.1%
DLL 2018-1 LLC	2.810%	11/17/2020	0.1%
Australia & New Zealand Banking Group Ltd.	3.143%	05/17/2021	0.1%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.1%
Mondelez International Holdings Netherlands BV	3.192%	10/28/2019	0.1%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.1%
American Credit Acceptance Receivables Trust 2019-	3.320%	04/12/2023	0.1%
Dominion Gas Holdings LLC	3.211%	06/15/2021	0.1%
CPS Auto Trust	3.310%	12/15/2022	0.1%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.1%
Wabtec Corp.	3.911%	09/15/2021	0.1%
AXIS Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.1%
Mylan, Inc.	0.000%	08/05/2019	0.1%
Boston Scientific Corp.	0.000%	09/19/2019	0.1%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.1%
Citibank, Inc.	2.892%	10/20/2020	0.1%
Drive Auto Receivables Trust	5.150%	08/15/2022	0.1%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.1%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.1%
Capital One Financial Corp.	3.458%	05/12/2020	0.1%
Drive Auto Receivables Trust	3.360%	10/17/2022	0.1%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.1%
Sherwin-Williams Co.	0.000%	08/05/2019	0.1%
Boston Scientific Corp.	0.000%	08/21/2019	0.1%
Santander UK plc	3.038%	11/03/2020	0.1%
ConAgra Brands, Inc.	3.092%	10/09/2020	0.1%
Branch Banking & Trust Co.	2.740%	06/01/2020	0.1%
Australia & New Zealand Banking Group Ltd.	2.875%	12/19/2019	0.1%
Barclays Bank plc	3.352%	10/28/2019	0.1%
Bunge Asset Funding Corp	0.000%	08/01/2019	0.1%
Assurant, Inc.	3.860%	03/26/2021	0.1%
Australia & New Zealand Banking Group Ltd.	3.183%	08/19/2020	0.1%
General Dynamics Corp.	2.987%	05/11/2020	0.1%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.1%
ABN Amro Bank NV	3.002%	01/19/2021	0.1%
QUALCOMM, Inc.	3.194%	05/20/2020	0.1%
American Express Credit Account Master Trust	2.670%	10/17/2022	0.1%
Aviation Capital Group Corp.	3.253%	07/30/2021	0.1%
SMB Private Education Loan Trust 2018-B	2.645%	12/16/2024	0.1%
Lloyds Banking Group plc	3.413%	06/21/2021	0.1%
American Express Credit Corp.	3.643%	09/14/2020	0.1%
Bayer US Finance II LLC	2.979%	06/25/2021	0.1%
Australia & New Zealand Banking Group Ltd.	3.017%	11/09/2020	0.1%
General Motors Financial Co., Inc.	4.147%	01/14/2022	0.1%
Wells Fargo Bank, N.A.	3.258%	12/06/2019	0.1%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.1%
Ford Motor Credit Co. LLC	0.000%	11/25/2019	0.1%
General Motors Financial Co., Inc.	0.000%	08/01/2019	0.1%
Canadian Tire Corp Ltd	0.000%	08/16/2019	0.1%
NASDAQ OMX Group, Inc.	0.000%	08/22/2019	0.1%
Arrow Electronics, Inc.	0.000%	09/04/2019	0.1%
Master Credit Card Trust II	3.400%	01/21/2022	0.1%
Eni Finance USA, Inc.	0.000%	08/07/2019	0.1%
World Financial Network Credit Card Master Trust	1.980%	08/15/2023	0.1%
Sumitomo Mitsui Trust Bank Ltd	3.065%	09/19/2019	0.1%
BA Credit Card Trust	1.950%	08/15/2022	0.1%
EnCana Corp.	0.000%	09/11/2019	0.1%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.0%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.0%
General Motors Financial Co., Inc.	0.000%	08/19/2019	0.0%
Citibank Credit Card Issuance Trust	1.800%	09/20/2021	0.0%
Branch Banking & Trust Co.	3.312%	01/15/2020	0.0%
Goldman Sachs Group, Inc.	3.940%	04/23/2021	0.0%
Barclays Dryrock Issuance Trust	2.655%	07/15/2024	0.0%
American Express Credit Corp.	3.174%	08/15/2019	0.0%
Phillips 66	3.246%	02/26/2021	0.0%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.0%
Alimentation Couche-Tard, Inc.	3.108%	12/13/2019	0.0%
ING Bank NV	3.128%	08/15/2019	0.0%
National Australia Bank Ltd.	3.141%	12/09/2019	0.0%
General Motors Financial Co., Inc.	3.527%	04/13/2020	0.0%
Becton, Dickinson & Co.	3.476%	12/29/2020	0.0%
Drive Auto Receivables Trust 2018-5	3.080%	07/15/2021	0.0%
General Motors Financial Co., Inc.	4.157%	01/15/2020	0.0%
Standard Chartered plc	3.813%	08/19/2019	0.0%
BAT Capital Corp	3.564%	08/15/2022	0.0%
Daimler Finance North America LLC	3.113%	02/22/2021	0.0%
Daimler Finance North America LLC	3.288%	05/04/2021	0.0%
Gilead Sciences, Inc.	2.883%	09/20/2019	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
Capital One NA/Mclean VA	3.373%	09/13/2019	0.0%
Boston Scientific Corp.	0.000%	08/06/2019	0.0%
PFS Financing Corp.	1.870%	10/15/2021	0.0%
NASDAQ OMX Group, Inc.	0.000%	08/21/2019	0.0%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.0%
Morgan Stanley	3.992%	04/21/2021	0.0%
Commonwealth Bank of Australia	3.015%	09/18/2020	0.0%
Kraft Heinz Foods Co.	2.982%	08/09/2019	0.0%
Metropolitan Life Global Funding I	2.845%	09/19/2019	0.0%
Barclays Dryrock Issuance Trust	2.410%	07/15/2022	0.0%
Nissan Motor Acceptance Corp.	2.987%	07/13/2020	0.0%
Nordea Bank Abp	3.221%	09/30/2019	0.0%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
Drive Auto Receivables Trust 2018-5	2.645%	07/15/2021	0.0%
Harris Corp.	3.063%	04/30/2020	0.0%
CarMax Auto Owner Trust	3.110%	08/15/2022	0.0%
Nissan Motor Acceptance Corp.	3.177%	01/13/2020	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
Exeter Automobile Receivables Trust 2017-3	2.050%	12/15/2021	0.0%
CPS Auto Receivables Trust 2014-C	4.830%	08/17/2020	0.0%
Westlake Automobile Receivables Trust 2016-3	2.460%	01/18/2022	0.0%
PFS Financing Corp.	2.925%	02/15/2022	0.0%
California Republic Auto Receivables Trust 2018-1	2.860%	03/15/2021	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
Sherwin-Williams Co.	0.000%	08/12/2019	0.0%
CPS Auto Receivables Trust 2016-C	5.920%	06/15/2022	0.0%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	0.0%
Westlake Automobile Receivables Trust 2018-2	3.500%	01/16/2024	0.0%
Ford Motor Credit Co. LLC	3.006%	11/02/2020	0.0%
Shire Acquisitions Investments Ireland Designated	1.900%	09/23/2019	0.0%
Exeter Automobile Receivables Trust 2015-1	5.830%	12/15/2021	0.0%
Chesapeake Funding II LLC	2.665%	11/15/2029	0.0%
Express Scripts Holding Co.	3.274%	11/30/2020	0.0%
Foursight Capital Automobile Receivables Trust 201	2.850%	08/16/2021	0.0%
Verizon Owner Trust 2017-1	2.450%	09/20/2021	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
BAT Capital Corp	3.283%	08/14/2020	0.0%
EnCana Corp.	0.000%	08/12/2019	0.0%
World Financial Network Credit Card Master Trust	2.550%	06/17/2024	0.0%
General Motors Co.	3.539%	08/07/2020	0.0%
Drive Auto Receivables Trust	3.340%	09/15/2022	0.0%
AvalonBay Communities, Inc.	3.027%	01/15/2021	0.0%
UBS Group Funding Switzerland AG	4.042%	09/24/2020	0.0%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.0%
American Express Co.	2.913%	10/30/2020	0.0%
CPS Auto Trust	2.870%	09/15/2021	0.0%
National Australia Bank Ltd.	2.967%	09/20/2021	0.0%
NASDAQ OMX Group, Inc.	0.000%	09/24/2019	0.0%
Pentair Finance SA	0.000%	08/06/2019	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
Canadian Imperial Bank of Commerce	3.128%	09/06/2019	0.0%
AT&T, Inc.	3.247%	01/15/2020	0.0%
Drive Auto Receivables Trust 2017-2	2.750%	09/15/2023	0.0%
CarFinance Capital Auto Trust	3.580%	06/15/2021	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
American Credit Acceptance Receivables Trust 2018-	3.550%	04/10/2024	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
CPS Auto Trust	3.430%	07/15/2022	0.0%
Smithfield Foods, Inc.	2.700%	01/31/2020	0.0%
Pentair Finance SA	2.650%	12/01/2019	0.0%
CPS Auto Receivables Trust 2018-B	2.720%	09/15/2021	0.0%
American Credit Acceptance Receivables Trust 2018-	2.940%	01/10/2022	0.0%
Viacom, Inc.	0.000%	08/29/2019	0.0%
Drive Auto Receivables Trust	3.010%	11/15/2021	0.0%
National Australia Bank Ltd.	3.174%	01/10/2020	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
First National Master Note Trust 2017-2	2.765%	10/16/2023	0.0%
PNC Bank NA	2.842%	01/22/2021	0.0%
Drive Auto Receivables Trust 2017-1	2.840%	04/15/2022	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
Volkswagen Group of America Finance LLC	3.638%	11/12/2021	0.0%
Australia & New Zealand Banking Group Ltd.	3.262%	09/23/2019	0.0%
HSBC USA, Inc.	3.298%	11/13/2019	0.0%
Citibank, Inc.	3.097%	06/12/2020	0.0%
Danske Bank A/S	3.030%	03/02/2020	0.0%
Westlake Automobile Receivables Trust 2016-2	4.100%	06/15/2021	0.0%
CPS Auto Receivables Trust 2017-D	2.430%	01/18/2022	0.0%
Flagship Credit Auto Trust 2016-1	3.910%	06/15/2022	0.0%
Royal Bank of Canada	2.826%	10/26/2020	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
Toyota Auto Receivables 2016-D Owner Trust	1.230%	10/15/2020	0.0%
AmeriCredit Automobile Receivables Trust 2015-3	2.730%	03/08/2021	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.0%
Phillips 66	3.347%	04/15/2020	0.0%
Capital Auto Receivables Asset Trust	3.340%	03/22/2021	0.0%
Cigna Corp	3.265%	09/17/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Drive Auto Receivables Trust	2.980%	01/18/2022	0.0%
Jackson National Life Global Funding	2.931%	06/11/2021	0.0%
Wells Fargo Bank, N.A.	2.907%	01/15/2021	0.0%
BMW US Capital LLC	2.969%	04/06/2020	0.0%
Fifth Third Bank, OH	3.199%	09/27/2019	0.0%
Flagship Credit Auto Trust 2016-3	2.430%	06/15/2021	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.0%
Citizens Bank N.A.	3.216%	05/26/2020	0.0%
JPMorgan Chase Bank NA	3.192%	09/23/2019	0.0%
ING Bank NV	3.282%	10/01/2019	0.0%
OSCAR US Funding Trust VII LLC	3.029%	11/10/2020	0.0%
Svenska Handelsbanken AB	3.098%	09/06/2019	0.0%
Americredit Automobile Receivables Trust 2016-4	1.830%	12/08/2021	0.0%
California Republic Auto Receivables Trust 2015-4	2.580%	06/15/2021	0.0%
Foursight Capital Automobile Receivables Trust 201	4.120%	09/15/2022	0.0%
ING Bank NV	3.653%	08/17/2020	0.0%
TCF Auto Receivables Owner Trust 2015-2	2.550%	04/15/2021	0.0%
Ascentium Equipment Receivables 2017-2 Trust	2.000%	05/11/2020	0.0%
Chesapeake Funding II LLC	1.880%	06/15/2028	0.0%
ING Bank NV	3.294%	08/15/2019	0.0%
CPS Auto Receivables Trust 2018-A	2.770%	04/18/2022	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
Chesapeake Funding II LLC	2.775%	05/15/2029	0.0%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	0.0%
Royal Bank of Canada	2.995%	03/02/2020	0.0%
Drive Auto Receivables Trust 2017-3	2.800%	07/15/2022	0.0%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.800%	10/08/2021	0.0%
Capital Auto Receivables Asset Trust 2015-4	3.620%	05/20/2021	0.0%
Flagship Credit Auto Trust 2017-3	1.880%	10/15/2021	0.0%
Santander Drive Auto Receivables Trust 2016-2	3.390%	04/15/2022	0.0%
CPS Auto Receivables Trust 2018-B	3.230%	07/15/2022	0.0%
Canadian Imperial Bank of Commerce	2.891%	02/02/2021	0.0%
Sofi Professional Loan Program 2017-C LLC	1.750%	07/25/2040	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
SoFi Consumer Loan Program 2016-2 LLC	3.090%	10/27/2025	0.0%
ACC Trust 2018-1	3.700%	12/21/2020	0.0%
Mississippi Power Co.	3.259%	03/27/2020	0.0%
Capital Auto Receivables Asset Trust 2016-2	2.110%	03/22/2021	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
Flagship Credit Auto Trust	3.050%	08/16/2021	0.0%
Master Credit Card Trust II	2.560%	07/21/2021	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.0%
Enterprise Fleet Financing LLC	1.970%	01/20/2023	0.0%
Credit Acceptance Auto Loan Trust 2016-3	2.150%	04/15/2024	0.0%
Santander Drive Auto Receivables Trust	3.240%	04/15/2021	0.0%
Barclays Dryrock Issuance Trust 2017-1	2.655%	03/15/2023	0.0%
Drive Auto Receivables Trust	3.020%	11/15/2021	0.0%
GreatAmerica Leasing Receivables Funding LLC Serie	2.350%	05/15/2020	0.0%
CPS Auto Receivables Trust 2017-C	2.300%	07/15/2021	0.0%
CPS Auto Trust	2.680%	05/17/2021	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	0.0%
Chesapeake Funding II LLC	3.325%	06/15/2028	0.0%
Ford Motor Credit Co. LLC	3.495%	11/04/2019	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%
Chrysler Capital Auto Receivables Trust 2016-B	1.640%	07/15/2021	0.0%
Mercedes-Benz Auto Lease Trust 2018-A	2.200%	04/15/2020	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
First Investors Auto Owner Trust	2.000%	03/15/2022	0.0%
Navient Student Loan Trust 2018-1	2.456%	03/25/2067	0.0%
Santander Drive Auto Receivables Trust 2017-2	2.210%	10/15/2021	0.0%
Sofi Consumer Loan Program 2017-5 LLC	2.140%	09/25/2026	0.0%
DLL Securitization Trust 2017-A	1.890%	07/15/2020	0.0%
SoFi Professional Loan Program 2017-D LLC	1.720%	09/25/2040	0.0%
Carmax Auto Owner Trust	1.390%	05/17/2021	0.0%
Drive Auto Receivables Trust	2.610%	08/16/2021	0.0%
AmeriCredit Automobile Receivables Trust 2015-2	2.400%	01/08/2021	0.0%
Engs Commercial Finance Trust	2.630%	02/22/2022	0.0%
First Investors Auto Owner Trust 2017-2	1.860%	10/15/2021	0.0%
First Investors Auto Owner Trust 2016-2	1.870%	11/15/2021	0.0%
Flagship Credit Auto Trust 2017-2	1.850%	07/15/2021	0.0%
Ascentium Equipment Receivables 2016-1 Trust	2.850%	07/10/2020	0.0%
Nissan Auto Receivables 2016-B Owner Trust	1.320%	01/15/2021	0.0%
Santander Drive Auto Receivables Trust 2015-4	2.970%	03/15/2021	0.0%
SoFi Professional Loan Program 2017-A LLC	1.550%	03/26/2040	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.460%	05/10/2021	0.0%
Dell Equipment Finance Trust	2.140%	04/22/2022	0.0%
California Republic Auto Receivables Trust	1.750%	01/15/2021	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 09/20/2019: $0.179
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	08/31/2019	$0.02084	$10.03
Daily	Daily	07/31/2019	$0.02183	$10.03
Daily	Daily	06/30/2019	$0.02202	$10.03
Daily	Daily	05/31/2019	$0.02300	$10.02
Daily	Daily	04/30/2019	$0.02270	$10.02
Daily	Daily	03/31/2019	$0.02386	$10.02
Daily	Daily	02/28/2019	$0.02213	$10.01
Daily	Daily	01/31/2019	$0.02360	$10.00

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	09/30/2019
Daily	Daily	10/31/2019
Daily	Daily	11/30/2019
Daily	Daily	12/31/2019

CAPITAL GAINS DISTRIBUTIONS

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/14/2017	12/15/2017	-	$0.0003	$0.0003	$10.01

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/17/2019	12/18/2019

Fees & Expenses

EXPENSE RATIOas of 08/31/2019

Fund Gross Expense Ratio	Fund Net Expense Ratio
0.34%	0.27%

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2020. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) Publish Date:11/03/2015
	SAI Publish Date:11/03/2015
	Annual Report Publish Date:11/03/2015
	Semi-Annual Report Publish Date:11/03/2015
	Fact Sheet Publish Date:11/03/2015
	Commentary Publish Date:11/03/2015
	Flyer Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.

The Ultra Short Bond Fund’s 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The Fund’s 7 Day Yield is shown without sales charges. The Fund’s Subsidized 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s 7 Day Yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

⁴The Ultra Short Bond Fund's 7 Day Yield is computed by averaging daily income dividends declared (net of expenses) in the Fund over the previous 7 days, and dividing that annualized rate by the Fund’s NAV. This is a rolling calculation, updated daily.

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

IMPORTANT INFORMATION

There is no up-front commission on purchases of the Lord Abbett Ultra Short Bond Fund, but a contingent deferred sales charge (CDSC) will be charged on shares exchanged from a Lord Abbett–sponsored fund that are subject to a CDSC and that are subsequently redeemed. Lord Abbett Ultra Short Bond Fund has a 12b-1 trail commission of 0.15% that accrues immediately.

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. Although the Fund may invest in money market securities, this is not a money market fund. These factors can affect Fund performance. As it is a newly organized fund, the Fund’s performance at this time is very limited. The Fund's performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Class R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The ICE BofA ML U.S. Treasury Bill Index tracks the performance of US dollar denominated US Treasury Bills publicly issued in the US domestic market. Qualifying securities must have at least one month remaining term to final maturity and a minimum amount outstanding of $1 billion. The benchmark has not been examined by Deloitte & Touche LLP.

Source: ICE Data Indices, LLC.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

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Lord Abbett aspires to be the most respected asset manager in the world. Rooted in the values that have shaped the firm since our founding in 1929, our vision continues to guide our actions and strengthen our culture.

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Summary

Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

7 Day Yield 1,4 as of 09/20/2019

30-Day Standardized Yield 2 as of 08/31/2019

Fund Basicsas of 08/30/2019

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

RELATED CONTENT

Credit Quality Distribution as of 08/30/2019 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

NAV HISTORICAL PRICES

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 08/30/2019

Portfolio Positioning as of 06/30/2019

Portfolio Details as of 08/30/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

7 Day Yield ^1,4 as of 09/20/2019

30-Day Standardized Yield ² as of 08/31/2019