Ultra Short Bond Fund

LUBWX

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Daily price w/o sales charge as of 10/21/2019

$10.03

$0.00

YTD Returns w/o sales charge as of 10/21/2019

2.58%

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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 10/21/2019

	Subsidized³	Un-Subsidized³
w/o sales charge	2.34%	2.27%

30-Day Standardized Yield ² as of 09/30/2019

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.34%	2.28%

Fund Basicsas of 09/30/2019

Total Net Assets: $18.93 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.29%
Fund Net Expense Ratio: 0.22%
Number of Holdings: 644

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

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

w/o sales charge	2.44%	2.89%	-	-	-	2.17%
Lipper Category Avg. Ultra-Short Obligations Funds	2.44%	2.74%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.86%	2.45%	-	-	-	1.56%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

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

w/o sales charge	2.44%	2.89%	-	-	-	2.17%
Lipper Category Avg. Ultra-Short Obligations Funds	2.44%	2.74%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.86%	2.45%	-	-	-	1.56%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Credit Quality Distribution as of 09/30/2019 View Portfolio

Rating	Assets
A-1/P-1
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

Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

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

Managing Director, Portfolio Manager

11 Years of Industry Experience

Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 64 Investment Professionals with 16 Years Avg. Industry Experience

Your Representative

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Portfolio

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

Maturity	Assets
Less than 1 year
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 09/30/2019

Rating	Assets
A-1/P-1
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 09/30/2019

Total Net Assets: $18.93 B
Number of Issues: 644
Average Coupon: 2.06%
Average Life: 0.89 Years
Average Effective Duration: 0.22 Years

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

Holding	Coupon	Maturity	Assets

Morgan Stanley	3.095%	02/10/2021	1.5%
J.P.Morgan Securities LLC	0.010%	-	1.3%
Goldman Sachs Group, Inc.	3.752%	04/23/2020	1.3%
Bank of America Corp.	3.252%	07/21/2021	1.2%
Citigroup, Inc.	3.374%	01/10/2020	1.0%
Federal Home Loan Bank	0.000%	10/08/2019	0.9%
JPMorgan Chase & Co.	3.003%	03/09/2021	0.9%
Jabil, Inc.	0.000%	11/25/2019	0.8%
Morgan Stanley	3.772%	01/20/2022	0.8%
Wells Fargo & Co.	3.472%	07/22/2020	0.8%

% of Total Assets			10.5%

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%
JPMorgan Chase & Co.	3.200%	06/01/2021	0.8%
United States Treasury Bill	0.000%	10/08/2019	0.7%
Volkswagen Group of America Finance LLC	3.305%	11/13/2020	0.7%
Noble Energy, Inc.	0.000%	09/05/2019	0.7%
Morgan Stanley	3.772%	01/20/2022	0.7%
Ford Credit Auto Owner Trust 2014-REV2	2.310%	04/15/2026	0.7%
Dollar Tree, Inc.	3.288%	04/17/2020	0.6%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.6%
EnCana Corp.	0.000%	09/27/2019	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%
Noble Energy, Inc.	0.000%	09/12/2019	0.5%
JPMorgan Chase & Co.	3.151%	03/09/2021	0.5%
JPMorgan Chase Bank NA	2.890%	02/19/2021	0.5%
Exeter Automobile Receivables Trust 2019-3	2.590%	09/15/2022	0.5%
Daimler Finance North America LLC	3.235%	11/05/2021	0.5%
VW Credit, Inc.	0.000%	10/04/2019	0.5%
Glencore Funding LLC	0.000%	09/06/2019	0.5%
Broadcom Inc	0.000%	09/12/2019	0.5%
GM Financial Automobile Leasing Trust 2019-3	2.090%	10/20/2021	0.5%
Wells Fargo Bank, N.A.	2.827%	01/15/2020	0.5%
PNC Bank NA	2.709%	07/22/2022	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%
Wells Fargo Bank, N.A.	3.092%	07/23/2021	0.5%
Federal Home Loan Bank	0.000%	09/25/2019	0.5%
DuPont de Nemours Inc	0.000%	09/27/2019	0.5%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.4%
GE Capital Credit Card Master Note Trust	1.760%	09/15/2022	0.4%
Jackson National Life Global Funding	2.897%	10/15/2020	0.4%
Bank of America NA	2.587%	07/26/2021	0.4%
Metropolitan Life Global Funding I	2.819%	01/08/2021	0.4%
Chesapeake Funding II LLC	2.675%	01/15/2031	0.4%
Cigna Corp	2.760%	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%
BAT International Finance plc	0.000%	11/08/2019	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%
Royal Bank of Canada	2.980%	01/25/2021	0.4%
American Honda Finance Corp.	2.872%	10/19/2020	0.4%
Citibank, Inc.	3.050%	02/19/2022	0.4%
FMC Corp.	0.000%	09/09/2019	0.4%
American Honda Finance Corp.	2.851%	06/27/2022	0.4%
Zimmer Biomet Holdings, Inc.	3.375%	03/19/2021	0.4%
Smithfield Foods, Inc.	0.000%	09/05/2019	0.4%
Macquarie Bank Ltd.	2.618%	08/06/2021	0.4%
BA Credit Card Trust	1.840%	01/17/2023	0.4%
DuPont de Nemours Inc	0.000%	11/07/2019	0.4%
Royal Caribbean Cruises Ltd.	0.000%	09/17/2019	0.4%
AutoNation, Inc.	0.000%	09/05/2019	0.4%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	0.4%
Toronto-Dominion Bank	2.700%	07/30/2021	0.4%
Eni Finance USA, Inc.	0.000%	10/31/2019	0.4%
Bell Canada, Inc.	0.000%	11/06/2019	0.3%
Citibank, Inc.	3.162%	07/23/2021	0.3%
Energy Transfer Partners L.P.	0.000%	09/05/2019	0.3%
Royal Caribbean Cruises Ltd.	0.000%	09/25/2019	0.3%
Honda Auto Receivables 2019-1 Owner Trust	2.750%	09/20/2021	0.3%
Caterpillar Financial Services Corp.	2.771%	08/26/2020	0.3%
General Electric Co.	3.212%	01/09/2020	0.3%
HSBC Holdings plc	3.120%	05/18/2021	0.3%
Tyson Foods, Inc.	0.000%	09/09/2019	0.3%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.3%
EnCana Corp.	0.000%	09/25/2019	0.3%
Goldman Sachs Group, Inc.	3.408%	12/13/2019	0.3%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.3%
Mylan, Inc.	0.000%	09/03/2019	0.3%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.3%
IBM Credit LLC	2.994%	11/30/2020	0.3%
JPMorgan Chase & Co.	4.000%	03/01/2021	0.3%
BMW US Capital LLC	3.035%	08/13/2021	0.3%
Florida Power & Light Co.	2.965%	05/06/2022	0.3%
General Motors Financial Co., Inc.	0.000%	09/09/2019	0.3%
DuPont de Nemours Inc	0.000%	10/25/2019	0.3%
Sempra Global	0.000%	09/19/2019	0.3%
Glencore Funding LLC	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%
BMW US Capital LLC	3.014%	04/12/2021	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%
Sempra Global	0.000%	09/24/2019	0.3%
Daimler Finance North America LLC	3.058%	02/15/2022	0.3%
Royal Caribbean Cruises Ltd.	0.000%	09/20/2019	0.3%
AT&T, Inc.	0.000%	12/02/2019	0.3%
Broadcom Inc	0.000%	09/10/2019	0.3%
Golden Credit Card Trust	2.645%	12/15/2022	0.3%
Bank of America Corp.	3.242%	10/01/2021	0.3%
Kinder Morgan, Inc.	0.000%	09/03/2019	0.3%
National Bank of Canada	3.157%	06/12/2020	0.3%
Royal Caribbean Cruises Ltd.	0.000%	09/09/2019	0.3%
Marriott International, Inc.	3.120%	12/01/2020	0.3%
Discover Card Execution Note Trust	2.685%	07/15/2024	0.3%
NextEra Energy Capital Holdings, Inc.	3.071%	08/28/2021	0.3%
Sumitomo Mitsui Banking Corp	2.971%	10/16/2020	0.3%
Bank of Montreal	2.992%	01/22/2021	0.3%
Union Bank N.A.	3.207%	03/07/2022	0.3%
Huntington National Bank	2.837%	02/05/2021	0.3%
John Deere Capital Corp.	3.004%	07/10/2020	0.3%
Jackson National Life Global Funding	2.909%	03/16/2021	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%
Caterpillar Financial Services Corp.	2.915%	05/17/2021	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%
BP Capital Markets plc	2.382%	11/24/2020	0.3%
Campbell Soup Co.	0.000%	09/04/2019	0.3%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.3%
Occidental Petroleum Corp.	3.637%	08/15/2022	0.3%
BMW Finance NV	2.965%	08/12/2022	0.3%
Daimler Finance North America LLC	2.965%	02/12/2021	0.3%
Arrow Electronics, Inc.	0.000%	09/06/2019	0.3%
Newell Rubbermaid, Inc.	0.000%	09/06/2019	0.3%
Southern Power Co	3.183%	12/20/2020	0.3%
Cigna Corp	0.000%	09/17/2019	0.3%
Glencore Funding LLC	0.000%	09/12/2019	0.3%
Newell Rubbermaid, Inc.	0.000%	09/17/2019	0.3%
Newell Rubbermaid, Inc.	0.000%	09/20/2019	0.3%
BNP Paribas S.A.	2.568%	08/07/2021	0.3%
Humana, Inc.	0.000%	10/02/2019	0.3%
Smithfield Foods, Inc.	0.000%	09/04/2019	0.3%
Enable Midstream Partners L.P.	0.000%	09/06/2019	0.3%
Bell Canada, Inc.	0.000%	11/15/2019	0.3%
Enable Midstream Partners L.P.	0.000%	09/10/2019	0.3%
AT&T, Inc.	0.000%	12/06/2019	0.3%
Nissan Master Owner Trust Receivables	2.625%	04/18/2022	0.2%
American Express Co.	3.140%	05/20/2022	0.2%
Walgreen Co.	0.000%	02/11/2020	0.2%
Bell Canada, Inc.	0.000%	02/26/2020	0.2%
Citibank, Inc.	3.123%	05/20/2022	0.2%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.2%
Regions Bank, Birmingham, AL	3.035%	08/13/2021	0.2%
Newell Rubbermaid, Inc.	0.000%	09/13/2019	0.2%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.2%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.2%
EnCana Corp.	0.000%	10/15/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	4.540%	11/15/2022	0.2%
CRH America Finance, Inc.	0.000%	09/25/2019	0.2%
Eni Finance USA, Inc.	0.000%	11/29/2019	0.2%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.2%
Boston Scientific Corp.	0.000%	09/06/2019	0.2%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.2%
Manufacturers & Traders Trust Co	3.456%	12/28/2020	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
Martin Marietta Materials, Inc.	3.173%	05/22/2020	0.2%
Constellation Brands, Inc.	3.218%	11/15/2021	0.2%
Ford Motor Credit Co. LLC	3.592%	01/09/2020	0.2%
GE Dealer Floorplan Master Note Trust	2.822%	01/20/2022	0.2%
USAA Auto Owner Trust 2019-1	2.260%	02/15/2022	0.2%
Martin Marietta Materials, Inc.	3.133%	12/20/2019	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%
Boston Scientific Corp.	0.000%	10/18/2019	0.2%
Wells Fargo Bank, N.A.	3.102%	10/22/2021	0.2%
Canadian Imperial Bank of Commerce	2.908%	10/05/2020	0.2%
SunTrust Banks, Inc.	3.115%	05/17/2022	0.2%
Marriott International, Inc.	0.000%	09/24/2019	0.2%
Arrow Electronics, Inc.	0.000%	09/19/2019	0.2%
New York Life Global Funding	2.780%	07/12/2022	0.2%
Honeywell International, Inc.	2.557%	08/08/2022	0.2%
Laclede Group, Inc.	0.000%	09/18/2019	0.2%
General Motors Financial Co., Inc.	0.000%	09/11/2019	0.2%
Boston Scientific Corp.	0.000%	09/20/2019	0.2%
Arrow Electronics, Inc.	0.000%	09/27/2019	0.2%
CNH Capital LLC	0.000%	11/05/2019	0.2%
Boston Scientific Corp.	0.000%	10/15/2019	0.2%
Sherwin-Williams Co.	0.000%	09/23/2019	0.2%
Sherwin-Williams Co.	0.000%	09/24/2019	0.2%
CNH Capital LLC	0.000%	10/16/2019	0.2%
Discover Card Execution Note Trust	1.390%	03/15/2022	0.2%
Wells Fargo & Co.	3.465%	02/11/2022	0.2%
BMW US Capital LLC	2.833%	04/14/2022	0.2%
Vulcan Materials Co.	3.170%	03/01/2021	0.2%
Prestige Auto Receivables Trust 2019-1	2.440%	07/15/2022	0.2%
Sempra Energy	3.097%	01/15/2021	0.2%
Goldman Sachs Group, Inc.	3.612%	10/23/2019	0.2%
Daimler Finance North America LLC	3.219%	01/06/2020	0.2%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.2%
Plains All American Pipeline L.P.	0.000%	09/03/2019	0.2%
Master Credit Card Trust	2.649%	07/21/2022	0.2%
Goldman Sachs Group, Inc.	3.696%	04/26/2022	0.2%
Santander Drive Auto Receivables Trust 2015-4	3.530%	08/16/2021	0.2%
UBS AG London	3.000%	12/01/2020	0.2%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.2%
Protective Life Global Funding	3.117%	06/28/2021	0.2%
Daimler Finance North America LLC	2.955%	05/04/2020	0.2%
Toronto-Dominion Bank	3.523%	12/14/2020	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%
Navistar Financial Dealer Note Master Owner Trust	2.896%	09/25/2023	0.2%
Ford Motor Credit Co. LLC	3.484%	10/12/2021	0.2%
Enbridge US Inc	0.000%	09/17/2019	0.2%
First National Master Note Trust 2018-1	2.655%	10/15/2024	0.2%
KeyBank NA	3.239%	02/01/2022	0.2%
Nissan Motor Acceptance Corp.	3.131%	03/15/2021	0.2%
International Business Machines Corp.	2.576%	05/13/2021	0.2%
General Motors Financial Co., Inc.	0.000%	10/17/2019	0.2%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.2%
Arrow Electronics, Inc.	0.000%	09/04/2019	0.2%
Branch Banking & Trust Co.	3.181%	06/15/2020	0.2%
Bank of Nova Scotia	2.987%	07/14/2020	0.2%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	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%
Broadcom Inc	0.000%	09/17/2019	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%
FMC Technologies, Inc.	0.000%	09/20/2019	0.2%
Americredit Automobile Receivables Trust 2019-1	2.442%	06/20/2022	0.2%
Campbell Soup Co.	3.115%	03/16/2020	0.2%
Bank of Montreal	2.937%	07/13/2020	0.2%
Wells Fargo & Co.	3.843%	03/04/2021	0.2%
Bank of Nova Scotia	3.032%	04/20/2021	0.2%
Cigna Corp	3.060%	09/17/2021	0.2%
Citizens Bank N.A.	3.248%	02/14/2022	0.2%
New York Life Global Funding	2.885%	08/06/2021	0.2%
ABN Amro Bank NV	3.091%	08/27/2021	0.2%
WGL Holdings, Inc.	3.147%	03/12/2020	0.2%
Tyco Electronics Group S.A.	3.049%	06/05/2020	0.2%
General Motors Financial Co., Inc.	0.000%	09/20/2019	0.2%
Marsh & McLennan Cos., Inc.	3.801%	12/29/2021	0.2%
Manufacturers & Traders Trust Co	2.764%	12/01/2021	0.2%
WGL Holdings, Inc.	2.925%	11/29/2019	0.2%
GMF Floorplan Owner Revolving Trust	2.495%	03/15/2022	0.2%
Campbell Soup Co.	0.000%	09/05/2019	0.2%
Laclede Group, Inc.	0.000%	09/11/2019	0.2%
Enable Midstream Partners L.P.	0.000%	09/09/2019	0.2%
Enel Finance America LLC	0.000%	09/19/2019	0.2%
FMC Corp.	0.000%	09/10/2019	0.2%
Arrow Electronics, Inc.	0.000%	09/25/2019	0.2%
General Motors Financial Co., Inc.	0.000%	10/03/2019	0.2%
Enel Finance America LLC	0.000%	09/24/2019	0.1%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.1%
PFS Financing Corp.	2.595%	02/17/2022	0.1%
Humana, Inc.	0.000%	10/16/2019	0.1%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.1%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.1%
Fifth Third Bank, OH	3.026%	07/26/2021	0.1%
Compass Bank	3.331%	06/11/2021	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	2.812%	05/21/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
American Express Co.	3.165%	11/05/2021	0.1%
Toyota Motor Credit Corp.	3.129%	01/08/2021	0.1%
TD Ameritrade Holding Corp.	3.009%	11/01/2021	0.1%
Royal Bank of Canada	3.052%	04/29/2022	0.1%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
Cigna Corp	0.000%	09/24/2019	0.1%
General Mills, Inc.	3.141%	04/16/2021	0.1%
American Honda Finance Corp.	2.714%	06/11/2021	0.1%
Occidental Petroleum Corp.	3.137%	02/08/2021	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
NextGear Floorplan Master Owner Trust	2.190%	09/15/2021	0.1%
Enbridge US Inc	0.000%	09/11/2019	0.1%
FMC Corp.	0.000%	09/04/2019	0.1%
Broadcom Inc	0.000%	09/24/2019	0.1%
Canadian Tire Corp Ltd	0.000%	11/04/2019	0.1%
FMC Technologies, Inc.	0.000%	11/08/2019	0.1%
Eni Finance USA, Inc.	0.000%	11/27/2019	0.1%
DLL 2018-2 LLC	3.140%	10/20/2020	0.1%
UBS AG London	3.031%	06/08/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.580%	01/18/2022	0.1%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.1%
Bank of Montreal	2.851%	09/11/2019	0.1%
Boston Scientific Corp.	0.000%	09/05/2019	0.1%
EnCana Corp.	0.000%	10/04/2019	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%
Eni Finance USA, Inc.	0.000%	09/04/2019	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
Walgreen Co.	0.000%	10/31/2019	0.1%
Nissan Motor Acceptance Corp.	2.987%	09/28/2020	0.1%
Boston Scientific Corp.	0.000%	09/19/2019	0.1%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	2.535%	05/15/2023	0.1%
Citigroup, Inc.	3.456%	08/02/2021	0.1%
EnCana Corp.	0.000%	09/23/2019	0.1%
Lloyds Bank plc	3.055%	05/07/2021	0.1%
Ford Credit Auto Owner Trust 2015-REV1	2.120%	07/15/2026	0.1%
Harley-Davidson Financial Services Inc	3.022%	05/21/2020	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.1%
Federation des Caisses Desjardins du Quebec	2.913%	10/30/2020	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	2.595%	07/15/2022	0.1%
American Express Credit Account Master Trust	1.770%	11/15/2022	0.1%
Amur Equipment Finance Receivables VII LLC	2.630%	06/20/2024	0.1%
DuPont de Nemours Inc	3.228%	11/15/2020	0.1%
Goldman Sachs Group, Inc.	4.291%	02/25/2021	0.1%
New York Life Global Funding	2.862%	01/28/2021	0.1%
John Deere Capital Corp.	2.872%	06/07/2021	0.1%
Sherwin-Williams Co.	0.000%	09/03/2019	0.1%
General Motors Financial Co., Inc.	0.000%	09/06/2019	0.1%
Boston Scientific Corp.	0.000%	10/11/2019	0.1%
Americredit Automobile Receivables Trust 2018-2	2.860%	11/18/2021	0.1%
Canadian Tire Corp Ltd	0.000%	09/27/2019	0.1%
Morgan Stanley	3.595%	06/16/2020	0.1%
CNH Capital LLC	0.000%	04/17/2020	0.1%
EnCana Corp.	0.000%	10/01/2019	0.1%
General Motors Financial Co., Inc.	0.000%	09/05/2019	0.1%
Nissan Motor Acceptance Corp.	3.193%	01/13/2022	0.1%
General Motors Financial Co., Inc.	3.872%	10/04/2019	0.1%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.1%
Manufacturers & Traders Trust Co	2.850%	01/25/2021	0.1%
American Express Credit Account Master Trust	2.645%	09/16/2024	0.1%
Hyundai Capital America	0.000%	12/11/2019	0.1%
Drive Auto Receivables Trust	4.160%	05/15/2024	0.1%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.1%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.1%
Branch Banking & Trust Co.	3.047%	01/15/2020	0.1%
SL Green Operating Partnership L.P.	3.505%	08/16/2021	0.1%
Barclays Dryrock Issuance Trust	2.495%	05/15/2023	0.1%
Occidental Petroleum Corp.	3.437%	08/13/2021	0.1%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Santander Drive Auto Receivables Trust 2015-5	3.650%	12/15/2021	0.1%
FMC Corp.	0.000%	09/23/2019	0.1%
Vulcan Materials Co.	3.211%	06/15/2020	0.1%
Toronto-Dominion Bank	2.820%	01/25/2021	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Textron, Inc.	3.095%	11/10/2020	0.1%
Morgan Stanley	3.722%	01/27/2020	0.1%
Citibank, Inc.	2.875%	09/18/2019	0.1%
Skandinaviska Enskilda Banken AB	3.178%	09/13/2019	0.1%
Enbridge US Inc	0.000%	11/15/2019	0.1%
Ford Motor Credit Co. LLC	3.408%	04/05/2021	0.1%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.1%
Discover Card Execution Note Trust	1.900%	10/17/2022	0.1%
SunTrust Banks, Inc.	3.086%	10/26/2021	0.1%
General Electric Co.	3.007%	03/28/2020	0.1%
Citigroup, Inc.	3.896%	10/26/2020	0.1%
Danske Bank A/S	3.030%	03/02/2020	0.1%
General Motors Financial Co., Inc.	0.000%	09/03/2019	0.1%
Siemens Financial Services, Inc.	2.955%	03/16/2020	0.1%
Daimler Finance North America LLC	3.095%	05/05/2020	0.1%
Santander UK plc	3.140%	06/01/2021	0.1%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.1%
NextGear Floorplan Master Owner Trust	2.795%	10/15/2023	0.1%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Phillips 66	2.732%	02/26/2021	0.1%
Morgan Stanley	3.208%	07/22/2022	0.1%
Bristol-Myers Squibb Co.	2.725%	11/16/2020	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%
Bank of Montreal	3.197%	12/12/2019	0.1%
Daimler Finance North America LLC	3.403%	02/22/2022	0.1%
Santander Drive Auto Receivables Trust 2016-2	4.380%	09/15/2023	0.1%
Chesapeake Funding II LLC	2.535%	08/15/2029	0.1%
Capital One Multi-Asset Execution Trust	2.705%	09/16/2024	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
Regions Bank, Birmingham, AL	2.972%	04/01/2021	0.1%
FMC Technologies, Inc.	0.000%	11/04/2019	0.1%
Chase Issuance Trust	2.395%	04/17/2023	0.1%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	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%
Citizens Bank N.A.	3.060%	03/02/2020	0.1%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	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%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.1%
AIG Global Funding	2.800%	07/02/2020	0.1%
Phillips 66	3.347%	04/15/2020	0.1%
Campbell Soup Co.	0.000%	09/03/2019	0.1%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.1%
Mondelez International Holdings Netherlands BV	3.192%	10/28/2019	0.1%
Australia & New Zealand Banking Group Ltd.	2.985%	05/17/2021	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%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.1%
Comcast Corp.	2.759%	10/01/2021	0.1%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.1%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.1%
Americredit Automobile Receivables Trust 2018-3	2.432%	01/18/2022	0.1%
ACC Trust 2019-1	3.750%	05/20/2022	0.1%
Wabtec Corp.	3.911%	09/15/2021	0.1%
Amur Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.1%
Sherwin-Williams Co.	0.000%	09/18/2019	0.1%
Citibank, Inc.	2.892%	10/20/2020	0.1%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.1%
Drive Auto Receivables Trust	3.040%	11/15/2021	0.1%
Drive Auto Receivables Trust	5.150%	08/15/2022	0.1%
Drive Auto Receivables Trust	3.360%	10/17/2022	0.1%
Capital One Financial Corp.	3.295%	05/12/2020	0.1%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.1%
Branch Banking & Trust Co.	2.740%	06/01/2020	0.1%
ConAgra Brands, Inc.	3.092%	10/09/2020	0.1%
Daimler Finance North America LLC	3.115%	05/04/2021	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%
Santander UK plc	2.876%	11/03/2020	0.1%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.1%
Express Scripts Holding Co.	3.274%	11/30/2020	0.1%
General Dynamics Corp.	2.825%	05/11/2020	0.1%
ABN Amro Bank NV	3.002%	01/19/2021	0.1%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.1%
American Express Credit Account Master Trust	2.670%	10/17/2022	0.1%
QUALCOMM, Inc.	3.070%	05/20/2020	0.1%
Aviation Capital Group Corp.	3.253%	07/30/2021	0.1%
Lloyds Banking Group plc	3.413%	06/21/2021	0.1%
American Express Credit Corp.	3.643%	09/14/2020	0.1%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.1%
Bayer US Finance II LLC	2.979%	06/25/2021	0.1%
General Motors Financial Co., Inc.	4.147%	01/14/2022	0.1%
Australia & New Zealand Banking Group Ltd.	2.882%	11/09/2020	0.1%
Becton, Dickinson & Co.	3.476%	12/29/2020	0.1%
Ford Motor Credit Co. LLC	0.000%	11/25/2019	0.1%
General Motors Financial Co., Inc.	0.000%	09/10/2019	0.1%
General Motors Financial Co., Inc.	0.000%	09/18/2019	0.1%
General Motors Financial Co., Inc.	0.000%	09/24/2019	0.1%
DLL 2018-1 LLC	2.810%	11/17/2020	0.1%
NASDAQ OMX Group, Inc.	0.000%	10/16/2019	0.1%
BAT International Finance plc	0.000%	11/06/2019	0.1%
Master Credit Card Trust II	3.400%	01/21/2022	0.1%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.0%
Sumitomo Mitsui Trust Bank Ltd	3.065%	09/19/2019	0.0%
World Financial Network Credit Card Master Trust	1.980%	08/15/2023	0.0%
BA Credit Card Trust	1.950%	08/15/2022	0.0%
Boston Scientific Corp.	0.000%	09/18/2019	0.0%
EnCana Corp.	0.000%	09/11/2019	0.0%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.0%
Citibank Credit Card Issuance Trust	1.800%	09/20/2021	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	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	2.525%	07/15/2024	0.0%
SMB Private Education Loan Trust 2018-B	2.515%	12/16/2024	0.0%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	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%
Plains All American Pipeline L.P.	0.000%	09/04/2019	0.0%
General Motors Financial Co., Inc.	4.157%	01/15/2020	0.0%
BAT Capital Corp	3.398%	08/15/2022	0.0%
Daimler Finance North America LLC	2.973%	02/22/2021	0.0%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.0%
Gilead Sciences, Inc.	2.883%	09/20/2019	0.0%
Capital One NA/Mclean VA	3.373%	09/13/2019	0.0%
PFS Financing Corp.	1.870%	10/15/2021	0.0%
Morgan Stanley	3.992%	04/21/2021	0.0%
Commonwealth Bank of Australia	3.015%	09/18/2020	0.0%
Metropolitan Life Global Funding I	2.845%	09/19/2019	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
Barclays Dryrock Issuance Trust	2.410%	07/15/2022	0.0%
TransCanada Pipelines Ltd.	0.000%	11/08/2019	0.0%
Nissan Motor Acceptance Corp.	2.987%	07/13/2020	0.0%
Nordea Bank Abp	3.221%	09/30/2019	0.0%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
Smithfield Foods, Inc.	0.000%	09/03/2019	0.0%
Harris Corp.	3.063%	04/30/2020	0.0%
Boston Scientific Corp.	0.000%	09/11/2019	0.0%
General Motors Financial Co., Inc.	0.000%	09/25/2019	0.0%
CarMax Auto Owner Trust	3.110%	08/15/2022	0.0%
Nissan Motor Acceptance Corp.	3.177%	01/13/2020	0.0%
Boston Scientific Corp.	0.000%	10/04/2019	0.0%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.0%
CPS Auto Receivables Trust 2014-C	4.830%	08/17/2020	0.0%
PFS Financing Corp.	2.795%	02/17/2022	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
GE Capital International Funding Co.	2.342%	11/15/2020	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Boston Scientific Corp.	0.000%	09/27/2019	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	2.696%	11/02/2020	0.0%
Shire Acquisitions Investments Ireland Designated	1.900%	09/23/2019	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
Verizon Owner Trust 2017-1	2.450%	09/20/2021	0.0%
Exeter Automobile Receivables Trust 2015-1	5.830%	12/15/2021	0.0%
World Financial Network Credit Card Master Trust	2.550%	06/17/2024	0.0%
BAT Capital Corp	3.118%	08/14/2020	0.0%
Chesapeake Funding II LLC	2.535%	11/15/2029	0.0%
General Motors Co.	3.365%	08/07/2020	0.0%
Drive Auto Receivables Trust	3.340%	09/15/2022	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
UBS Group Funding Switzerland AG	4.042%	09/24/2020	0.0%
AvalonBay Communities, Inc.	3.027%	01/15/2021	0.0%
Drive Auto Receivables Trust 2018-5	3.080%	07/15/2021	0.0%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.0%
American Express Co.	2.913%	10/30/2020	0.0%
National Australia Bank Ltd.	2.967%	09/20/2021	0.0%
NASDAQ OMX Group, Inc.	0.000%	09/24/2019	0.0%
Exeter Automobile Receivables Trust 2017-3	2.050%	12/15/2021	0.0%
KeyBank NA	3.333%	11/22/2021	0.0%
California Republic Auto Receivables Trust 2018-1	2.860%	03/15/2021	0.0%
NBCUniversal Media LLC	5.150%	04/30/2020	0.0%
Boston Scientific Corp.	0.000%	10/09/2019	0.0%
General Motors Financial Co., Inc.	0.000%	09/27/2019	0.0%
Canadian Imperial Bank of Commerce	3.128%	09/06/2019	0.0%
Westlake Automobile Receivables Trust 2016-3	2.460%	01/18/2022	0.0%
CPS Auto Trust	2.870%	09/15/2021	0.0%
AT&T, Inc.	3.247%	01/15/2020	0.0%
EnCana Corp.	0.000%	10/23/2019	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	0.0%
Drive Auto Receivables Trust 2018-5	2.515%	07/15/2021	0.0%
American Credit Acceptance Receivables Trust 2018-	3.550%	04/10/2024	0.0%
CPS Auto Trust	3.430%	07/15/2022	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
Smithfield Foods, Inc.	2.700%	01/31/2020	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
Foursight Capital Automobile Receivables Trust 201	2.850%	08/16/2021	0.0%
Pentair Finance SA	2.650%	12/01/2019	0.0%
PTL Finance Corp.	3.050%	01/09/2020	0.0%
CVS Caremark Corp.	3.231%	03/09/2020	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
National Australia Bank Ltd.	3.174%	01/10/2020	0.0%
First National Master Note Trust 2017-2	2.635%	10/16/2023	0.0%
PNC Bank NA	2.842%	01/22/2021	0.0%
CarFinance Capital Auto Trust	3.580%	06/15/2021	0.0%
CVS Caremark Corp.	3.173%	03/09/2021	0.0%
United Technologies Corp.	3.175%	08/16/2021	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
Drive Auto Receivables Trust 2017-2	2.750%	09/15/2023	0.0%
Royal Caribbean Cruises Ltd.	0.000%	10/01/2019	0.0%
Australia & New Zealand Banking Group Ltd.	3.262%	09/23/2019	0.0%
Volkswagen Group of America Finance LLC	3.475%	11/12/2021	0.0%
Citibank, Inc.	3.097%	06/12/2020	0.0%
CPS Auto Receivables Trust 2018-B	2.720%	09/15/2021	0.0%
Danske Bank A/S	3.030%	03/02/2020	0.0%
Royal Bank of Canada	2.826%	10/26/2020	0.0%
Citizens Bank N.A.	3.331%	05/26/2022	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
Drive Auto Receivables Trust 2017-1	2.840%	04/15/2022	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.0%
Westlake Automobile Receivables Trust 2016-2	4.100%	06/15/2021	0.0%
Capital Auto Receivables Asset Trust	3.340%	03/22/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	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%
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%
Citigroup, Inc.	3.523%	12/08/2021	0.0%
Fifth Third Bank, OH	3.199%	09/27/2019	0.0%
Glencore Funding LLC	0.000%	09/16/2019	0.0%
AmeriCredit Automobile Receivables Trust 2015-3	2.730%	03/08/2021	0.0%
Drive Auto Receivables Trust	2.980%	01/18/2022	0.0%
Toyota Auto Receivables 2016-D Owner Trust	1.230%	10/15/2020	0.0%
Citizens Bank N.A.	3.091%	05/26/2020	0.0%
Royal Caribbean Cruises Ltd.	0.000%	09/03/2019	0.0%
ING Bank NV	3.282%	10/01/2019	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	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%
Foursight Capital Automobile Receivables Trust 201	4.120%	09/15/2022	0.0%
ING Bank NV	3.495%	08/17/2020	0.0%
American Credit Acceptance Receivables Trust 2018-	2.940%	01/10/2022	0.0%
Assurant, Inc.	3.860%	03/26/2021	0.0%
CPS Auto Receivables Trust 2018-A	2.770%	04/18/2022	0.0%
California Republic Auto Receivables Trust 2015-4	2.580%	06/15/2021	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
Drive Auto Receivables Trust	3.010%	11/15/2021	0.0%
Royal Bank of Canada	2.900%	03/02/2020	0.0%
Chesapeake Funding II LLC	1.880%	06/15/2028	0.0%
Chesapeake Funding II LLC	2.645%	05/15/2029	0.0%
Flagship Credit Auto Trust 2016-3	2.430%	06/15/2021	0.0%
Ascentium Equipment Receivables 2017-2 Trust	2.000%	05/11/2020	0.0%
HSBC Holdings plc	4.181%	05/25/2021	0.0%
Capital Auto Receivables Asset Trust 2015-4	3.620%	05/20/2021	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%
OSCAR US Funding Trust VII LLC	2.851%	11/10/2020	0.0%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.0%
Canadian Imperial Bank of Commerce	2.581%	02/02/2021	0.0%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	0.0%
Drive Auto Receivables Trust 2017-3	2.800%	07/15/2022	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.800%	10/08/2021	0.0%
Capital Auto Receivables Asset Trust 2016-2	2.110%	03/22/2021	0.0%
Mississippi Power Co.	2.961%	03/27/2020	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
Flagship Credit Auto Trust 2017-3	1.880%	10/15/2021	0.0%
SoFi Consumer Loan Program 2016-2 LLC	3.090%	10/27/2025	0.0%
Master Credit Card Trust II	2.560%	07/21/2021	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
Sofi Professional Loan Program 2017-C LLC	1.750%	07/25/2040	0.0%
ACC Trust 2018-1	3.700%	12/21/2020	0.0%
TCF Auto Receivables Owner Trust 2015-2	2.550%	04/15/2021	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%
Barclays Dryrock Issuance Trust 2017-1	2.525%	03/15/2023	0.0%
Drive Auto Receivables Trust	3.020%	11/15/2021	0.0%
Ford Motor Credit Co. LLC	3.495%	11/04/2019	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	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%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%
Chesapeake Funding II LLC	3.195%	06/15/2028	0.0%
CPS Auto Trust	2.680%	05/17/2021	0.0%
Flagship Credit Auto Trust	3.050%	08/16/2021	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
Chrysler Capital Auto Receivables Trust 2016-B	1.640%	07/15/2021	0.0%
First Investors Auto Owner Trust	2.000%	03/15/2022	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%
Engs Commercial Finance Trust	2.630%	02/22/2022	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%
Nissan Auto Receivables 2016-B Owner Trust	1.320%	01/15/2021	0.0%
California Republic Auto Receivables Trust	1.750%	01/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2015-2	2.400%	01/08/2021	0.0%
Dell Equipment Finance Trust	2.140%	04/22/2022	0.0%
SoFi Professional Loan Program 2017-A LLC	1.550%	03/26/2040	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 10/21/2019: $0.201
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	09/30/2019	$0.02022	$10.03
Daily	Daily	08/31/2019	$0.02131	$10.03
Daily	Daily	07/31/2019	$0.02220	$10.03
Daily	Daily	06/30/2019	$0.02239	$10.03
Daily	Daily	05/31/2019	$0.02321	$10.02
Daily	Daily	04/30/2019	$0.02291	$10.02
Daily	Daily	03/31/2019	$0.02378	$10.01
Daily	Daily	02/28/2019	$0.02201	$10.01
Daily	Daily	01/31/2019	$0.02337	$10.01

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	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 09/30/2019

Fund Gross Expense Ratio	Fund Net Expense Ratio
0.29%	0.22%

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

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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

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 R6 - The inception date for Class R6 shares is June 30, 2015. The performance quotations for Class R6 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 R6 shares; and (b) for periods after June 30, 2015, actual Class R6 performance is used, which reflects all charges and fees applicable to Class R6 shares.

Class R6 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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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 10/21/2019

30-Day Standardized Yield 2 as of 09/30/2019

Fund Basicsas of 09/30/2019

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

RELATED CONTENT

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CREDIT QUALITY DISTRIBUTION as of 09/30/2019

Portfolio Positioning as of 06/30/2019

Portfolio Details as of 09/30/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 09/30/2019

Fund Documents

Fund Documents

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7 Day Yield ^1,4 as of 10/21/2019

30-Day Standardized Yield ² as of 09/30/2019