Ultra Short Bond Fund

LUBWX

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Daily price w/o sales charge as of 08/22/2019

$10.03

$0.00

YTD Returns w/o sales charge as of 08/22/2019

2.17%

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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 08/22/2019

	Subsidized³	Un-Subsidized³
w/o sales charge	2.46%	2.39%

30-Day Standardized Yield ² as of 07/31/2019

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.50%	2.43%

Fund Basicsas of 07/31/2019

Total Net Assets: $17.65 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.29%
Fund Net Expense Ratio: 0.22%
Number of Holdings: 643

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	2.01%	2.88%	-	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.01%	2.69%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.48%	2.41%	-	-	-	1.52%

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	1.79%	2.86%	-	-	-	2.13%
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 0.29%

Net 0.22%

Credit Quality Distribution as of 07/31/2019 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

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

To contact your representative, enter your zip code and select your channel below.

Performance

NAV HISTORICAL PRICES

Date	Net Asset Value

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	2.01%	2.88%	-	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.01%	2.69%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.48%	2.41%	-	-	-	1.52%

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	1.79%	2.86%	-	-	-	2.13%
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 0.29%

Net 0.22%

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

2018	2.11%	1.88%
2017	1.66%	0.82%
2016	0.20%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2019	0.89%	0.89%	-	-	2.17%
2018	0.37%	0.68%	0.61%	0.44%	2.11%
2017	0.41%	0.45%	0.38%	0.41%	1.66%
2016	-	-	-	-	0.20%

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
3-4.99 years

CREDIT QUALITY DISTRIBUTION as of 07/31/2019

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 07/31/2019

Total Net Assets: $17.65 B
Number of Issues: 643
Average Coupon: 2.14%
Average Life: 0.89 Years
Average Effective Duration: 0.23 Years

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

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%

% of Total Assets			11.4%

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	07/02/2019	2.0%
Goldman Sachs Group, Inc.	3.932%	04/23/2020	1.5%
Morgan Stanley	3.247%	02/10/2021	1.3%
Broadcom Inc	0.000%	07/09/2019	1.3%
Citigroup, Inc.	3.573%	01/10/2020	1.2%
Wells Fargo & Co.	3.472%	07/22/2020	0.9%
JPMorgan Chase & Co.	3.306%	06/01/2021	0.8%
Bank of America Corp.	3.252%	07/21/2021	0.8%
BAT International Finance plc	0.000%	07/02/2019	0.8%
Ford Credit Auto Owner Trust 2014-REV2	2.310%	04/15/2026	0.7%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.7%
Dollar Tree, Inc.	3.473%	04/17/2020	0.7%
Bank of America NA	2.879%	08/28/2020	0.7%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.6%
Volkswagen Group of America Finance LLC	3.458%	11/13/2020	0.6%
JPMorgan Chase Bank NA	2.890%	02/19/2021	0.6%
Daimler Finance North America LLC	3.235%	11/05/2021	0.5%
Bank of America NA	2.875%	05/24/2021	0.5%
Humana, Inc.	0.000%	07/29/2019	0.5%
Energy Transfer Partners L.P.	0.000%	07/02/2019	0.5%
VW Credit, Inc.	0.000%	10/04/2019	0.5%
Wells Fargo Bank, N.A.	3.017%	01/15/2020	0.5%
Comcast Corp.	2.922%	10/01/2020	0.5%
JPMorgan Chase & Co.	3.151%	03/09/2021	0.5%
Noble Energy, Inc.	0.000%	07/18/2019	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%
Morgan Stanley	3.941%	01/20/2022	0.5%
EnCana Corp.	0.000%	07/22/2019	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%
Chesapeake Funding II LLC	2.874%	01/15/2031	0.5%
Jackson National Life Global Funding	3.087%	10/15/2020	0.5%
Metropolitan Life Global Funding I	3.034%	01/08/2021	0.5%
Cigna Corp	2.965%	03/17/2020	0.4%
Toronto-Dominion Bank	2.875%	09/17/2020	0.4%
Wells Fargo & Co.	3.431%	01/30/2020	0.4%
Crown Castle International Corp.	0.000%	07/19/2019	0.4%
Royal Caribbean Cruises Ltd.	0.000%	08/07/2019	0.4%
Royal Caribbean Cruises Ltd.	0.000%	07/08/2019	0.4%
JPMorgan Chase Bank NA	2.856%	09/01/2020	0.4%
Royal Bank of Canada	2.980%	01/25/2021	0.4%
HSBC Holdings plc	3.247%	09/11/2021	0.4%
PNC Bank NA	2.947%	03/12/2021	0.4%
American Honda Finance Corp.	2.768%	10/19/2020	0.4%
Cigna Corp	0.000%	09/18/2019	0.4%
Citibank, Inc.	3.213%	02/19/2022	0.4%
Wells Fargo Bank, N.A.	3.272%	07/23/2021	0.4%
American Honda Finance Corp.	2.851%	06/27/2022	0.4%
Sempra Global	0.000%	08/19/2019	0.4%
Energy Transfer Partners L.P.	0.000%	07/08/2019	0.4%
Enbridge US Inc	0.000%	07/12/2019	0.4%
BA Credit Card Trust	1.840%	01/17/2023	0.4%
Crown Castle International Corp.	0.000%	07/24/2019	0.4%
Boston Scientific Corp.	0.000%	07/22/2019	0.4%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	0.4%
AutoNation, Inc.	0.000%	07/09/2019	0.4%
Citibank, Inc.	3.342%	07/23/2021	0.4%
Honda Auto Receivables 2019-1 Owner Trust	2.750%	09/20/2021	0.4%
Zimmer Biomet Holdings, Inc.	3.375%	03/19/2021	0.4%
Caterpillar Financial Services Corp.	2.896%	08/26/2020	0.4%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.4%
HSBC Holdings plc	3.283%	05/18/2021	0.4%
Bunge Asset Funding Corp	0.000%	07/17/2019	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%
Sempra Energy	3.037%	07/15/2019	0.3%
JPMorgan Chase & Co.	4.106%	03/01/2021	0.3%
General Electric Co.	3.417%	01/09/2020	0.3%
Florida Power & Light Co.	2.965%	05/06/2022	0.3%
CNH Capital LLC	0.000%	07/09/2019	0.3%
Energy Transfer Partners L.P.	0.000%	07/03/2019	0.3%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	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.	3.147%	01/12/2021	0.3%
Bank of Montreal	3.137%	07/13/2020	0.3%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.3%
Sherwin-Williams Co.	0.000%	07/24/2019	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	2.844%	12/15/2022	0.3%
Toyota Motor Credit Corp.	3.027%	07/15/2020	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	2.884%	07/15/2024	0.3%
Sumitomo Mitsui Banking Corp	3.149%	10/16/2020	0.3%
Bank of Montreal	3.152%	01/22/2021	0.3%
Huntington National Bank	3.115%	02/05/2021	0.3%
John Deere Capital Corp.	3.203%	07/10/2020	0.3%
Jackson National Life Global Funding	3.065%	04/27/2020	0.3%
Marriott International, Inc.	3.226%	12/01/2020	0.3%
Union Bank N.A.	3.207%	03/07/2022	0.3%
Jackson National Life Global Funding	2.909%	03/16/2021	0.3%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.3%
Santander Drive Auto Receivables Trust 2018-4	3.270%	01/17/2023	0.3%
American Express Credit Account Master Trust	1.930%	09/15/2022	0.3%
BMW US Capital LLC	3.207%	04/12/2021	0.3%
Caterpillar Financial Services Corp.	2.915%	05/17/2021	0.3%
BAT International Finance plc	0.000%	07/09/2019	0.3%
Eni Finance USA, Inc.	0.000%	08/02/2019	0.3%
BP Capital Markets plc	2.775%	11/24/2020	0.3%
Sempra Global	0.000%	07/29/2019	0.3%
Boston Scientific Corp.	0.000%	08/15/2019	0.3%
Humana, Inc.	0.000%	07/10/2019	0.3%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.3%
Hawaiian Electric Co., Inc.	0.000%	07/17/2019	0.3%
AutoNation, Inc.	0.000%	07/02/2019	0.3%
PNC Bank NA	2.763%	06/10/2021	0.3%
Bank of New York Mellon/The	2.783%	06/04/2021	0.3%
TransCanada Pipelines Ltd.	0.000%	07/19/2019	0.3%
Campbell Soup Co.	0.000%	09/04/2019	0.3%
Crown Castle International Corp.	0.000%	08/02/2019	0.3%
Hawaiian Electric Co., Inc.	0.000%	07/03/2019	0.3%
Enable Midstream Partners L.P.	0.000%	07/09/2019	0.3%
Entergy Corp.	0.000%	07/26/2019	0.3%
Cigna Corp	0.000%	07/30/2019	0.3%
Crown Castle International Corp.	0.000%	07/17/2019	0.3%
Cigna Corp	0.000%	09/17/2019	0.3%
Plains All American Pipeline L.P.	0.000%	07/12/2019	0.3%
Nissan Master Owner Trust Receivables	2.824%	04/18/2022	0.3%
American Express Co.	3.140%	05/20/2022	0.3%
Citibank, Inc.	3.123%	05/20/2022	0.3%
Boston Scientific Corp.	0.000%	08/12/2019	0.3%
Glencore Funding LLC	0.000%	07/17/2019	0.3%
Southern Power Co	3.183%	12/20/2020	0.3%
Eni Finance USA, Inc.	0.000%	07/22/2019	0.3%
Enbridge US Inc	0.000%	07/24/2019	0.3%
Eni Finance USA, Inc.	0.000%	08/15/2019	0.3%
Regions Bank, Birmingham, AL	3.188%	08/13/2021	0.3%
Sempra Global	0.000%	07/30/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	4.540%	11/15/2022	0.2%
Bunge Asset Funding Corp	0.000%	07/31/2019	0.2%
Enable Midstream Partners L.P.	0.000%	08/05/2019	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	3.645%	12/28/2020	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
Boston Scientific Corp.	0.000%	07/15/2019	0.2%
TransCanada Pipelines Ltd.	0.000%	07/25/2019	0.2%
Nissan Motor Acceptance Corp.	0.000%	07/31/2019	0.2%
Ford Motor Credit Co. LLC	3.797%	01/09/2020	0.2%
GE Dealer Floorplan Master Note Trust	3.033%	01/20/2022	0.2%
Discover Card Execution Note Trust	1.880%	02/15/2023	0.2%
AT&T, Inc.	3.531%	06/30/2020	0.2%
Santander Drive Auto Receivables Trust 2016-1	5.020%	06/15/2023	0.2%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.2%
Wells Fargo Bank, N.A.	3.102%	10/22/2021	0.2%
Canadian Imperial Bank of Commerce	3.105%	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%
SunTrust Banks, Inc.	3.115%	05/17/2022	0.2%
Campbell Soup Co.	0.000%	07/22/2019	0.2%
FMC Technologies, Inc.	0.000%	07/15/2019	0.2%
Campbell Soup Co.	0.000%	08/13/2019	0.2%
Laclede Group, Inc.	0.000%	07/01/2019	0.2%
Moody's Corp.	0.000%	07/12/2019	0.2%
Constellation Brands, Inc.	0.000%	07/03/2019	0.2%
EnCana Corp.	0.000%	08/07/2019	0.2%
CVS Caremark Corp.	3.231%	03/09/2020	0.2%
CNH Capital LLC	0.000%	11/05/2019	0.2%
Discover Card Execution Note Trust	1.390%	03/15/2022	0.2%
Royal Caribbean Cruises Ltd.	0.000%	07/01/2019	0.2%
Martin Marietta Materials, Inc.	3.133%	12/20/2019	0.2%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.2%
Goldman Sachs Group, Inc.	3.792%	10/23/2019	0.2%
Constellation Brands, Inc.	3.384%	11/15/2021	0.2%
Daimler Finance North America LLC	3.425%	01/06/2020	0.2%
Royal Caribbean Cruises Ltd.	0.000%	07/23/2019	0.2%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.2%
Master Credit Card Trust	2.863%	07/21/2022	0.2%
Daimler Finance North America LLC	3.128%	02/12/2021	0.2%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.2%
UBS AG London	3.106%	12/01/2020	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	3.402%	01/22/2021	0.2%
Credit Agricole Corporate & Investment Bank SA	3.433%	10/03/2021	0.2%
ConAgra Brands, Inc.	3.342%	10/22/2020	0.2%
Wells Fargo & Co.	3.627%	02/11/2022	0.2%
Navistar Financial Dealer Note Master Owner Trust	3.034%	09/25/2023	0.2%
Intesa Sanpaolo SpA	3.403%	07/17/2019	0.2%
KeyBank NA	3.396%	02/01/2022	0.2%
Ford Motor Credit Co. LLC	3.677%	10/12/2021	0.2%
First National Master Note Trust 2018-1	2.854%	10/15/2024	0.2%
Enbridge US Inc	0.000%	09/17/2019	0.2%
International Business Machines Corp.	2.935%	05/13/2021	0.2%
FMC Corp.	0.000%	07/03/2019	0.2%
Enbridge US Inc	0.000%	07/09/2019	0.2%
Nissan Motor Acceptance Corp.	3.016%	09/21/2021	0.2%
Nissan Motor Acceptance Corp.	3.131%	03/15/2021	0.2%
CNH Capital LLC	0.000%	07/12/2019	0.2%
EnCana Corp.	0.000%	08/19/2019	0.2%
Sherwin-Williams Co.	0.000%	08/19/2019	0.2%
Cabela's Credit Card Master Note Trust	2.844%	07/15/2022	0.2%
Bank of Nova Scotia	3.187%	07/14/2020	0.2%
Branch Banking & Trust Co.	3.181%	06/15/2020	0.2%
Synchrony Credit Card Master Note Trust	2.370%	03/15/2023	0.2%
DLL 2018-2 LLC	3.140%	10/20/2020	0.2%
Synchrony Credit Card Master Note Trust	2.640%	03/15/2023	0.2%
Vulcan Materials Co.	3.170%	03/01/2021	0.2%
Huntington National Bank	3.111%	03/10/2020	0.2%
BMW US Capital LLC	3.063%	08/14/2020	0.2%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.2%
Canadian Imperial Bank of Commerce/New York NY	3.043%	09/20/2019	0.2%
Enbridge US Inc	0.000%	10/15/2019	0.2%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.2%
Americredit Automobile Receivables Trust 2019-1	2.642%	06/20/2022	0.2%
American Electric Power Co., Inc.	0.000%	07/24/2019	0.2%
Bank of Nova Scotia	3.032%	04/20/2021	0.2%
Campbell Soup Co.	3.115%	03/16/2020	0.2%
New York Life Global Funding	2.885%	08/06/2021	0.2%
Citizens Bank N.A.	3.413%	02/14/2022	0.2%
Wells Fargo & Co.	3.843%	03/04/2021	0.2%
ABN Amro Bank NV	3.209%	08/27/2021	0.2%
Marsh & McLennan Cos., Inc.	3.801%	12/29/2021	0.2%
WGL Holdings, Inc.	3.147%	03/12/2020	0.2%
Tyco Electronics Group S.A.	3.049%	06/05/2020	0.2%
WGL Holdings, Inc.	3.029%	11/29/2019	0.2%
Bank of America Corp.	3.242%	10/01/2021	0.2%
GMF Floorplan Owner Revolving Trust	2.694%	03/15/2022	0.2%
AutoNation, Inc.	0.000%	07/01/2019	0.2%
General Motors Financial Co., Inc.	0.000%	07/09/2019	0.2%
General Motors Financial Co., Inc.	0.000%	08/02/2019	0.2%
Enbridge US Inc	0.000%	07/25/2019	0.2%
Campbell Soup Co.	0.000%	09/05/2019	0.2%
Welltower, Inc.	0.000%	07/29/2019	0.2%
Enable Midstream Partners L.P.	0.000%	08/19/2019	0.2%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.2%
Cigna Corp	0.000%	07/16/2019	0.2%
General Motors Financial Co., Inc.	0.000%	07/11/2019	0.2%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.2%
PFS Financing Corp.	2.794%	02/15/2022	0.2%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.2%
Eni Finance USA, Inc.	0.000%	07/23/2019	0.2%
Sherwin-Williams Co.	0.000%	07/17/2019	0.2%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.2%
Fifth Third Bank, OH	3.205%	07/26/2021	0.2%
Standard Chartered plc	3.813%	08/19/2019	0.2%
Eni Finance USA, Inc.	0.000%	07/02/2019	0.2%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.2%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.1%
Compass Bank	3.331%	06/11/2021	0.1%
BAT International Finance plc	0.000%	07/30/2019	0.1%
JPMorgan Chase Bank NA	3.105%	04/26/2021	0.1%
Sumitomo Mitsui Banking Corp	3.090%	10/18/2019	0.1%
Santander Drive Auto Receivables Trust 2018-2	3.030%	09/15/2022	0.1%
Goldman Sachs Group, Inc.	3.339%	12/27/2020	0.1%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.1%
Protective Life Global Funding	3.117%	06/28/2021	0.1%
US Bank NA	2.931%	05/21/2021	0.1%
CRH America Finance, Inc.	0.000%	07/15/2019	0.1%
BMW US Capital LLC	3.188%	08/13/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
Toyota Motor Credit Corp.	3.344%	01/08/2021	0.1%
American Express Co.	3.165%	11/05/2021	0.1%
Royal Bank of Canada	3.052%	04/29/2022	0.1%
TD Ameritrade Holding Corp.	3.166%	11/01/2021	0.1%
Americredit Automobile Receivables Trust 2018-2	2.860%	11/18/2021	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
DuPont de Nemours Inc	0.000%	07/22/2019	0.1%
Humana, Inc.	0.000%	07/16/2019	0.1%
TransCanada Pipelines Ltd.	0.000%	07/12/2019	0.1%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.1%
FMC Corp.	0.000%	07/01/2019	0.1%
Eni Finance USA, Inc.	0.000%	07/15/2019	0.1%
NextGear Floorplan Master Owner Trust	2.190%	09/15/2021	0.1%
Eni Finance USA, Inc.	0.000%	07/31/2019	0.1%
CNH Capital LLC	0.000%	07/10/2019	0.1%
Enbridge US Inc	0.000%	09/11/2019	0.1%
Eni Finance USA, Inc.	0.000%	07/29/2019	0.1%
UBS AG London	3.031%	06/08/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.580%	01/18/2022	0.1%
Boston Scientific Corp.	0.000%	07/29/2019	0.1%
Bank of Montreal	2.851%	09/11/2019	0.1%
Eni Finance USA, Inc.	0.000%	08/14/2019	0.1%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.1%
Manufacturers & Traders Trust Co	3.266%	12/01/2021	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
Ford Credit Floorplan Master Owner Trust A	3.014%	07/15/2021	0.1%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.1%
JPMorgan Chase & Co.	3.727%	01/23/2020	0.1%
Martin Marietta Materials, Inc.	3.313%	05/22/2020	0.1%
Nissan Motor Acceptance Corp.	2.987%	09/28/2020	0.1%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	2.734%	05/15/2023	0.1%
Drive Auto Receivables Trust	3.040%	11/15/2021	0.1%
Citigroup, Inc.	3.766%	08/02/2021	0.1%
Svenska Handelsbanken/New York NY	3.031%	10/21/2019	0.1%
Lloyds Bank plc	3.229%	05/07/2021	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	3.081%	10/30/2020	0.1%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.1%
Capital One Multi-Asset Execution Trust	1.330%	06/15/2022	0.1%
Mitsubishi UFJ Financial Grp, Inc.	3.415%	07/26/2021	0.1%
Santander Drive Auto Receivables Trust 2015-5	3.650%	12/15/2021	0.1%
Gracechurch Card Funding PLC	2.794%	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%
New York Life Global Funding	3.016%	01/28/2021	0.1%
Plains All American Pipeline L.P.	0.000%	07/01/2019	0.1%
John Deere Capital Corp.	2.872%	06/07/2021	0.1%
Sherwin-Williams Co.	0.000%	07/03/2019	0.1%
General Motors Financial Co., Inc.	0.000%	07/22/2019	0.1%
Boston Scientific Corp.	0.000%	08/14/2019	0.1%
Canadian Tire Corp Ltd	0.000%	08/07/2019	0.1%
General Motors Financial Co., Inc.	4.064%	10/04/2019	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%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.1%
Morgan Stanley	3.595%	06/16/2020	0.1%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	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	2.844%	09/16/2024	0.1%
AutoNation, Inc.	0.000%	07/15/2019	0.1%
Branch Banking & Trust Co.	3.237%	01/15/2020	0.1%
Barclays Dryrock Issuance Trust	2.694%	05/15/2023	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.1%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.1%
Ford Motor Credit Co. LLC	3.528%	08/12/2019	0.1%
Constellation Brands, Inc.	0.000%	07/24/2019	0.1%
Toronto-Dominion Bank	3.011%	01/25/2021	0.1%
Sherwin-Williams Co.	0.000%	07/23/2019	0.1%
General Motors Financial Co., Inc.	0.000%	07/08/2019	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Chase Issuance Trust	1.270%	07/15/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.1%
Morgan Stanley	3.905%	01/27/2020	0.1%
Vulcan Materials Co.	3.211%	06/15/2020	0.1%
UBS AG	3.333%	08/14/2019	0.1%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.1%
Textron, Inc.	3.247%	11/10/2020	0.1%
Citibank, Inc.	2.875%	09/18/2019	0.1%
Skandinaviska Enskilda Banken AB	3.178%	09/13/2019	0.1%
DLL 2018-1 LLC	2.810%	11/17/2020	0.1%
Chesapeake Funding II LLC	2.734%	08/15/2029	0.1%
Ford Motor Credit Co. LLC	3.605%	04/05/2021	0.1%
EnCana Corp.	0.000%	08/16/2019	0.1%
Discover Card Execution Note Trust	1.900%	10/17/2022	0.1%
Citigroup, Inc.	4.075%	10/26/2020	0.1%
General Electric Co.	3.007%	03/28/2020	0.1%
Daimler Finance North America LLC	3.263%	05/05/2020	0.1%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.1%
Siemens Financial Services, Inc.	2.955%	03/16/2020	0.1%
Danske Bank A/S	3.125%	03/02/2020	0.1%
SL Green Operating Partnership L.P.	3.663%	08/16/2021	0.1%
Santander UK plc	3.246%	06/01/2021	0.1%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.1%
Americredit Automobile Receivables Trust 2018-3	2.632%	01/18/2022	0.1%
General Motors Financial Co., Inc.	0.000%	07/17/2019	0.1%
NextGear Floorplan Master Owner Trust	2.994%	10/15/2023	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Bristol-Myers Squibb Co.	2.725%	11/16/2020	0.1%
UDR, Inc.	0.000%	07/02/2019	0.1%
Boston Scientific Corp.	0.000%	07/08/2019	0.1%
Enbridge US Inc	0.000%	08/05/2019	0.1%
Mondelez International, Inc.	0.000%	08/28/2019	0.1%
Deutsche Telekom International Finance	3.075%	09/19/2019	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%
Capital One Multi-Asset Execution Trust	2.904%	09/16/2024	0.1%
SunTrust Banks, Inc.	3.265%	10/26/2021	0.1%
Chase Issuance Trust	1.580%	08/15/2021	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
Daimler Finance North America LLC	3.403%	02/22/2022	0.1%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.1%
Chase Issuance Trust	2.594%	04/17/2023	0.1%
Santander Drive Auto Receivables Trust 2018-5	3.520%	12/15/2022	0.1%
General Electric Co.	3.587%	04/15/2020	0.1%
Nissan Motor Acceptance Corp.	3.128%	09/13/2019	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%
AIG Global Funding	3.080%	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%
Bemis Co., Inc.	0.000%	07/01/2019	0.1%
Sherwin-Williams Co.	0.000%	07/08/2019	0.1%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.1%
Mondelez International Holdings Netherlands BV	3.375%	10/28/2019	0.1%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.1%
Australia & New Zealand Banking Group Ltd.	3.143%	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%
CRH America Finance, Inc.	0.000%	07/10/2019	0.1%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.1%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.1%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.1%
Wabtec Corp.	3.911%	09/15/2021	0.1%
AXIS Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.1%
American Electric Power Co., Inc.	0.000%	07/22/2019	0.1%
Drive Auto Receivables Trust 2018-5	3.080%	07/15/2021	0.1%
Citibank, Inc.	2.892%	10/20/2020	0.1%
SMB Private Education Loan Trust 2018-B	2.714%	12/16/2024	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.	3.458%	05/12/2020	0.1%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.1%
Constellation Brands, Inc.	0.000%	07/29/2019	0.1%
ConAgra Brands, Inc.	3.297%	10/09/2020	0.1%
John Deere Capital Corp.	2.915%	07/05/2019	0.1%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.1%
Barclays Bank plc	3.535%	10/28/2019	0.1%
Branch Banking & Trust Co.	2.740%	06/01/2020	0.1%
Santander UK plc	3.038%	11/03/2020	0.1%
Australia & New Zealand Banking Group Ltd.	2.875%	12/19/2019	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%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.1%
ABN Amro Bank NV	3.171%	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.	3.421%	07/30/2021	0.1%
General Motors Financial Co., Inc.	4.347%	01/14/2022	0.1%
Lloyds Banking Group plc	3.413%	06/21/2021	0.1%
American Express Credit Corp.	3.643%	09/14/2020	0.1%
Australia & New Zealand Banking Group Ltd.	3.017%	11/09/2020	0.1%
Bayer US Finance II LLC	3.232%	06/25/2021	0.1%
Engs Commercial Finance Trust 2018-1	2.970%	02/22/2021	0.1%
CRH America Finance, Inc.	0.000%	07/01/2019	0.1%
Wells Fargo Bank, N.A.	3.258%	12/06/2019	0.1%
Ford Motor Credit Co. LLC	0.000%	11/25/2019	0.1%
EnCana Corp.	0.000%	07/09/2019	0.1%
Pentair Finance SA	0.000%	07/01/2019	0.1%
American Electric Power Co., Inc.	0.000%	07/09/2019	0.1%
General Motors Financial Co., Inc.	0.000%	07/19/2019	0.1%
General Motors Financial Co., Inc.	0.000%	08/01/2019	0.1%
Boston Scientific Corp.	0.000%	07/24/2019	0.1%
EnCana Corp.	0.000%	07/24/2019	0.1%
Canadian Tire Corp Ltd	0.000%	08/16/2019	0.1%
NASDAQ OMX Group, Inc.	0.000%	08/22/2019	0.1%
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%
CRH America Finance, Inc.	0.000%	07/26/2019	0.1%
EnCana Corp.	0.000%	07/08/2019	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%
Drive Auto Receivables Trust 2018-5	2.714%	07/15/2021	0.1%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.1%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.1%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.1%
General Motors Financial Co., Inc.	0.000%	08/19/2019	0.1%
Branch Banking & Trust Co.	3.502%	01/15/2020	0.1%
Citibank Credit Card Issuance Trust	1.800%	09/20/2021	0.1%
ACC Trust 2019-1	3.750%	05/20/2022	0.1%
Barclays Dryrock Issuance Trust	2.724%	07/15/2024	0.1%
Phillips 66	3.246%	02/26/2021	0.0%
American Express Credit Corp.	3.174%	08/15/2019	0.0%
Alimentation Couche-Tard, Inc.	3.108%	12/13/2019	0.0%
Entergy Corp.	0.000%	07/09/2019	0.0%
General Motors Financial Co., Inc.	3.727%	04/13/2020	0.0%
ING Bank NV	3.294%	08/15/2019	0.0%
National Australia Bank Ltd.	3.141%	12/09/2019	0.0%
General Motors Financial Co., Inc.	4.347%	01/15/2020	0.0%
Eni Finance USA, Inc.	0.000%	07/24/2019	0.0%
Becton, Dickinson & Co.	3.476%	12/29/2020	0.0%
Westlake Automobile Receivables Trust 2016-3	2.460%	01/18/2022	0.0%
Standard Chartered plc	3.813%	08/19/2019	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
Daimler Finance North America LLC	3.113%	02/22/2021	0.0%
Exeter Automobile Receivables Trust 2017-3	2.050%	12/15/2021	0.0%
Daimler Finance North America LLC	3.288%	05/04/2021	0.0%
Gilead Sciences, Inc.	2.883%	09/20/2019	0.0%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.0%
Capital One NA/Mclean VA	3.373%	09/13/2019	0.0%
PFS Financing Corp.	1.870%	10/15/2021	0.0%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.0%
California Republic Auto Receivables Trust 2018-1	2.860%	03/15/2021	0.0%
NASDAQ OMX Group, Inc.	0.000%	08/21/2019	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%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
Nissan Motor Acceptance Corp.	2.987%	07/13/2020	0.0%
Nordea Bank Abp	3.221%	09/30/2019	0.0%
Aircastle Ltd.	6.250%	12/01/2019	0.0%
Foursight Capital Automobile Receivables Trust 201	2.850%	08/16/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
Harris Corp.	3.231%	04/30/2020	0.0%
Nissan Motor Acceptance Corp.	3.177%	01/13/2020	0.0%
CarMax Auto Owner Trust	3.110%	08/15/2022	0.0%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
CPS Auto Receivables Trust 2014-C	4.830%	08/17/2020	0.0%
PFS Financing Corp.	2.994%	02/15/2022	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
Drive Auto Receivables Trust	3.010%	11/15/2021	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
American Credit Acceptance Receivables Trust 2018-	2.940%	01/10/2022	0.0%
CNH Capital LLC	0.000%	07/08/2019	0.0%
Boston Scientific Corp.	0.000%	07/18/2019	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%
Chesapeake Funding II LLC	2.734%	11/15/2029	0.0%
Westlake Automobile Receivables Trust 2018-2	3.500%	01/16/2024	0.0%
Lloyds Bank plc	5.800%	01/13/2020	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%
CPS Auto Trust	2.870%	09/15/2021	0.0%
Exeter Automobile Receivables Trust 2015-1	5.830%	12/15/2021	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
Verizon Owner Trust 2017-1	2.450%	09/20/2021	0.0%
Goldman Sachs Group, Inc.	3.940%	04/23/2021	0.0%
BAT Capital Corp	3.283%	08/14/2020	0.0%
World Financial Network Credit Card Master Trust	2.550%	06/17/2024	0.0%
EnCana Corp.	0.000%	08/12/2019	0.0%
General Motors Co.	3.539%	08/07/2020	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	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.	3.081%	10/30/2020	0.0%
Barclays Dryrock Issuance Trust 2016-1	1.520%	05/16/2022	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
Drive Auto Receivables Trust 2017-2	2.750%	09/15/2023	0.0%
National Australia Bank Ltd.	2.967%	09/20/2021	0.0%
CPS Auto Receivables Trust 2018-B	2.720%	09/15/2021	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
Canadian Imperial Bank of Commerce	3.128%	09/06/2019	0.0%
Drive Auto Receivables Trust 2017-1	2.840%	04/15/2022	0.0%
Morgan Stanley	4.161%	04/21/2021	0.0%
AT&T, Inc.	3.437%	01/15/2020	0.0%
Boston Scientific Corp.	0.000%	07/23/2019	0.0%
CarFinance Capital Auto Trust	3.580%	06/15/2021	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	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%
Smithfield Foods, Inc.	2.700%	01/31/2020	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
Pentair Finance SA	2.650%	12/01/2019	0.0%
National Australia Bank Ltd.	3.373%	01/10/2020	0.0%
PNC Bank NA	2.842%	01/22/2021	0.0%
First National Master Note Trust 2017-2	2.834%	10/16/2023	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%
Westlake Automobile Receivables Trust 2016-2	4.100%	06/15/2021	0.0%
Express Scripts Holding Co.	3.274%	11/30/2020	0.0%
Flagship Credit Auto Trust 2016-1	3.910%	06/15/2022	0.0%
Flagship Credit Auto Trust 2016-3	2.430%	06/15/2021	0.0%
Australia & New Zealand Banking Group Ltd.	3.262%	09/23/2019	0.0%
Volkswagen Group of America Finance LLC	3.638%	11/12/2021	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%
CPS Auto Receivables Trust 2017-D	2.430%	01/18/2022	0.0%
Eni Finance USA, Inc.	0.000%	07/05/2019	0.0%
Drive Auto Receivables Trust	2.980%	01/18/2022	0.0%
Royal Bank of Canada	3.005%	10/26/2020	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
Enbridge US Inc	0.000%	07/15/2019	0.0%
OSCAR US Funding Trust VII LLC	3.062%	11/10/2020	0.0%
TCF Auto Receivables Owner Trust 2015-2	2.550%	04/15/2021	0.0%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.0%
Phillips 66	3.537%	04/15/2020	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%
BMW US Capital LLC	3.175%	04/06/2020	0.0%
Wells Fargo Bank, N.A.	3.097%	01/15/2021	0.0%
Fifth Third Bank, OH	3.199%	09/27/2019	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.0%
Ascentium Equipment Receivables 2017-2 Trust	2.000%	05/11/2020	0.0%
California Republic Auto Receivables Trust 2015-4	2.580%	06/15/2021	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%
Chesapeake Funding II LLC	1.880%	06/15/2028	0.0%
Chesapeake Funding II LLC	2.110%	03/15/2028	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	3.653%	08/17/2020	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
ING Bank NV	3.294%	08/15/2019	0.0%
Credit Acceptance Auto Loan Trust 2016-3	2.150%	04/15/2024	0.0%
Flagship Credit Auto Trust	3.050%	08/16/2021	0.0%
CPS Auto Receivables Trust 2018-A	2.770%	04/18/2022	0.0%
Chesapeake Funding II LLC	2.844%	05/15/2029	0.0%
Drive Auto Receivables Trust 2017-3	2.800%	07/15/2022	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%
Santander Drive Auto Receivables Trust 2018-3	2.780%	03/15/2021	0.0%
Flagship Credit Auto Trust 2017-3	1.880%	10/15/2021	0.0%
Sofi Professional Loan Program 2017-C LLC	1.750%	07/25/2040	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%
ACC Trust 2018-1	3.700%	12/21/2020	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%
Canadian Imperial Bank of Commerce	2.891%	02/02/2021	0.0%
CPS Auto Receivables Trust 2018-B	3.230%	07/15/2022	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%
Morgan Stanley	3.512%	07/23/2019	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%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.0%
Master Credit Card Trust II	2.560%	07/21/2021	0.0%
Enterprise Fleet Financing LLC	1.970%	01/20/2023	0.0%
Santander Drive Auto Receivables Trust	3.240%	04/15/2021	0.0%
Mercedes-Benz Auto Lease Trust 2018-A	2.200%	04/15/2020	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%
Sofi Consumer Loan Program 2017-5 LLC	2.140%	09/25/2026	0.0%
Drive Auto Receivables Trust	2.610%	08/16/2021	0.0%
CPS Auto Trust	2.680%	05/17/2021	0.0%
Barclays Dryrock Issuance Trust 2017-1	2.724%	03/15/2023	0.0%
CPS Auto Receivables Trust 2017-C	2.300%	07/15/2021	0.0%
Santander Drive Auto Receivables Trust 2017-2	2.210%	10/15/2021	0.0%
Navient Student Loan Trust 2018-1	2.594%	03/25/2067	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	0.0%
Chrysler Capital Auto Receivables Trust 2016-B	1.640%	07/15/2021	0.0%
Chesapeake Funding II LLC	3.394%	06/15/2028	0.0%
DLL Securitization Trust 2017-A	1.890%	07/15/2020	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%
First Investors Auto Owner Trust	2.000%	03/15/2022	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
Santander Drive Auto Receivables Trust 2015-4	2.970%	03/15/2021	0.0%
First Investors Auto Owner Trust 2017-2	1.860%	10/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2015-2	2.400%	01/08/2021	0.0%
SoFi Professional Loan Program 2017-D LLC	1.720%	09/25/2040	0.0%
Flagship Credit Auto Trust 2017-2	1.850%	07/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.460%	05/10/2021	0.0%
Carmax Auto Owner Trust	1.390%	05/17/2021	0.0%
First Investors Auto Owner Trust 2016-2	1.870%	11/15/2021	0.0%
SunTrust Auto Receivables Trust	1.780%	01/15/2021	0.0%
Engs Commercial Finance Trust	2.630%	02/22/2022	0.0%
Ascentium Equipment Receivables 2016-1 Trust	2.850%	07/10/2020	0.0%
CPS Auto Receivables Trust 2017-D	1.870%	03/15/2021	0.0%
SoFi Professional Loan Program 2017-A LLC	1.550%	03/26/2040	0.0%
Nissan Auto Receivables 2016-B Owner Trust	1.320%	01/15/2021	0.0%
Bank of Montreal	3.430%	07/18/2019	0.0%
California Republic Auto Receivables Trust	1.750%	01/15/2021	0.0%
Dell Equipment Finance Trust	2.140%	04/22/2022	0.0%
AmeriCredit Automobile Receivables 2015-1	2.510%	01/08/2021	0.0%
CarMax Auto Owner Trust	1.560%	11/16/2020	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 08/22/2019: $0.159
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
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	08/31/2019
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 07/31/2019

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

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 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 08/22/2019

30-Day Standardized Yield 2 as of 07/31/2019

Fund Basicsas of 07/31/2019

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

Credit Quality Distribution as of 07/31/2019 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

NAV HISTORICAL PRICES

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%

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 07/31/2019

Portfolio Positioning as of 06/30/2019

Portfolio Details as of 07/31/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

7 Day Yield ^1,4 as of 08/22/2019

30-Day Standardized Yield ² as of 07/31/2019