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Lord Abbett
Climate Focused Bond Fund
Emerging Markets Equity Fund
International Growth Fund
Investment Grade Floating Rate Fund
Short Duration High Yield Fund
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Schedules of Investments (Item 7):
1
Climate Focused Bond Fund
14
Emerging Markets Equity Fund
19
International Growth Fund
24
Investment Grade Floating Rate Fund
39
Short Duration High Yield Fund
80
Statements of Assets and Liabilities (Item 7)
84
Statements of Operations (Item 7)
86
Statements of Changes in Net Assets (Item 7)
90
Financial Highlights (Item 7)
106
Notes to Financial Statements (Item 7)
134
Report of Independent Registered Public Accounting Firm (Item 7)
136
Changes in and Disagreements with Accountants (Item 8)
136
Proxy Disclosures (Item 9)
136
Remuneration Paid to Trustees, Officers, and Others (Item 10)
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1
Interest Maturity
Principal
Fair
Investments
Rate
Date
Amount
‡
Value
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CLIMATE FOCUSED BOND FUND
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LONG-TERM INVESTMENTS 94.63%
ASSET-BACKED SECURITIES 0.24%
Automobiles 0.24%
Tesla Auto Lease Trust Series 2023-A
Class A3
†
(cost $49,998)
5.89%
6/22/2026 $
50,000 $
50,158
CONVERTIBLE BONDS 0.42%
Energy-Alternate Sources 0.09%
Enphase Energy, Inc.
Zero Coupon
3/1/2028
23,000
19,916
Environmental Control 0.12%
Tetra Tech, Inc.
†
2.25%
8/15/2028
20,000
24,273
REITS 0.21%
HAT Holdings I LLC/HAT Holdings II LLC
†
Zero Coupon
5/1/2025
42,000
44,363
Total Convertible Bonds
(cost $82,426)
88,552
CORPORATE BONDS 68.42%
Auto Manufacturers 1.38%
Ford Motor Co.
3.25%
2/12/2032
83,000
69,703
Hyundai Capital America
†
5.80%
6/26/2025
112,000
112,516
Volvo Car AB
4.75%
5/8/2030 EUR 100,000
109,748
Total
291,967
Auto Parts & Equipment 2.32%
Aptiv PLC (Ireland)
(a)
4.35%
3/15/2029 $
35,000
34,304
BorgWarner, Inc.
3.375%
3/15/2025
65,000
64,110
Dana, Inc.
4.25%
9/1/2030
92,000
81,337
Forvia SE
2.375%
6/15/2029 EUR 100,000
98,349
Valeo SE
5.375%
5/28/2027 EUR 100,000
112,139
ZF Finance GmbH
2.25%
5/3/2028 EUR 100,000
99,908
Total
490,147
Banks 10.01%
AIB Group PLC
0.50%
(1 yr. EUR Swap + 0.75%)
#
11/17/2027 EUR 100,000
101,266
Banco de Sabadell SA
2.625%
(1 yr. EUR Swap + 2.20%)
#
3/24/2026 EUR 100,000
107,510
Bank of America Corp.
2.456%
(3 mo. USD
Term SOFR + 1.13%)
#
10/22/2025 $
210,000
208,492
BNP Paribas SA
1.125%
8/28/2024 EUR 200,000
216,052
2
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Interest Maturity
Principal
Fair
Investments
Rate
Date
Amount
‡
Value
Banks (continued)
BNP Paribas SA (France)
†(a)
1.675%
(SOFR + 0.91%)
#
6/30/2027 $
200,000 $
187,266
Caixa Geral de Depositos SA
2.875%
(1 yr. EUR Swap + 1.40%)
#
6/15/2026 EUR 100,000
107,444
CaixaBank SA
1.25%
(5 yr. EUR Swap + 1.63%)
#
6/18/2031 EUR 100,000
103,096
Danske Bank AS
0.75%
(1 yr. EURIBOR ICE Swap + 0.88%)
#
6/9/2029 EUR 100,000
97,857
ING Groep NV
0.875%
(5 yr. EURIBOR ICE Swap + 1.15%)
#
6/9/2032 EUR 100,000
99,731
Intesa Sanpaolo SpA
0.75%
3/16/2028 EUR 100,000
99,101
JPMorgan Chase & Co.
0.768%
(SOFR + 0.49%)
#
8/9/2025 $
221,000
220,767
Kreditanstalt fuer Wiederaufbau
0.875%
9/15/2026 GBP 100,000
119,698
NatWest Group PLC
2.057%
(1 yr. U.K. Government Bond + 1.27%)
#
11/9/2028 GBP 100,000
117,852
Nordea Bank Abp
0.50%
3/19/2031 EUR 100,000
91,233
Royal Bank of Canada (Canada)
(a)
1.15%
7/14/2026 $
150,000
140,035
Toronto-Dominion Bank (Canada)
(a)
5.264%
12/11/2026
100,000
101,191
Total
2,118,591
Building Materials 1.03%
Eco Material Technologies, Inc.
†
7.875%
1/31/2027
51,000
51,937
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
†
6.375%
12/15/2030 EUR 100,000
113,346
Owens Corning
3.95%
8/15/2029 $
55,000
52,862
Total
218,145
Chemicals 1.96%
Air Liquide Finance SA
0.375%
5/27/2031 EUR 100,000
90,687
Air Products & Chemicals, Inc.
4.85%
2/8/2034 $
100,000
100,334
Itelyum Regeneration SpA
4.625%
10/1/2026 EUR 100,000
106,791
Olympus Water U.S. Holding Corp.
9.625%
11/15/2028 EUR 100,000
116,451
Total
414,263
Commercial Services 2.01%
Bureau Veritas SA
1.875%
1/6/2025 EUR 100,000
107,462
Global Payments, Inc.
3.20%
8/15/2029 $
98,000
89,839
Massachusetts Institute of Technology
3.959%
7/1/2038
75,000
70,486
Quanta Services, Inc.
2.35%
1/15/2032
75,000
62,630
Techem Verwaltungsgesellschaft 674 GmbH
6.00%
7/30/2026
EUR 87,920
95,375
Total
425,792
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CLIMATE FOCUSED BOND FUND
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3
Interest Maturity
Principal
Fair
Investments
Rate
Date
Amount
‡
Value
Distribution/Wholesale 0.47%
Rexel SA
2.125%
12/15/2028 EUR 100,000 $
100,069
Diversified Financial Services 0.49%
LeasePlan Corp. NV
0.25%
2/23/2026 EUR 100,000
103,226
Electric 12.38%
AES Corp.
2.45%
1/15/2031 $
60,000
50,530
AES Corp.
5.45%
6/1/2028
56,000
56,558
CenterPoint Energy Houston Electric LLC
5.30%
4/1/2053
96,000
94,056
Clearway Energy Operating LLC
†
3.75%
2/15/2031
75,000
66,486
Enel Finance International NV (Netherlands)
†(a)
2.50%
7/12/2031
200,000
168,558
Enel Finance International NV (Netherlands)
†(a)
5.125%
6/26/2029
200,000
201,023
Engie SA
0.375%
6/21/2027 EUR 100,000
100,145
Engie SA
3.625%
1/11/2030 EUR 100,000
109,800
Iberdrola International BV
1.45%
(5 yr. EUR Swap + 1.83%)
#
–
(b)
EUR 100,000
101,815
Iberdrola International BV
1.45%
(5 yr. EUR Swap + 1.83%)
#
–
(b)
EUR 100,000
101,815
Ignitis Grupe AB
2.00%
5/21/2030 EUR 100,000
97,013
Leeward Renewable Energy Operations LLC
†
4.25%
7/1/2029 $
82,000
74,668
Liberty Utilities Finance GP 1
†
2.05%
9/15/2030
70,000
58,906
MidAmerican Energy Co.
3.95%
8/1/2047
65,000
52,230
MidAmerican Energy Co.
5.85%
9/15/2054
28,000
29,521
NextEra Energy Capital Holdings, Inc.
1.90%
6/15/2028
47,000
42,368
NextEra Energy Operating Partners LP
†
4.50%
9/15/2027
56,000
53,658
Orsted AS
2.125%
5/17/2027 GBP 100,000
119,194
Pattern Energy Operations LP/Pattern Energy
Operations, Inc.
†
4.50%
8/15/2028 $
49,000
46,271
Ren Finance BV
0.50%
4/16/2029 EUR 100,000
95,859
ReNew Wind Energy AP2/ReNew Power Pvt Ltd.
other 9 Subsidiaries (India)
(a)
4.50%
7/14/2028 $
200,000
184,265
Solar Star Funding LLC
†
5.375%
6/30/2035
73,351
73,008
Sorik Marapi Geothermal Power PT (Indonesia)
†(a)(c)
7.75%
8/5/2031
200,000
201,000
Southwestern Public Service Co.
3.75%
6/15/2049
50,000
37,248
SSE PLC
4.00%
9/5/2031 EUR 100,000
112,228
Terna - Rete Elettrica Nazionale
0.75%
7/24/2032 EUR 100,000
88,967
TransAlta Corp. (Canada)
(a)
7.75%
11/15/2029 $
48,000
50,393
Tucson Electric Power Co.
1.50%
8/1/2030
60,000
50,139
Vattenfall AB
0.50%
6/24/2026 EUR 100,000
102,874
Total
2,620,596
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CLIMATE FOCUSED BOND FUND
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