# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001410368-26-055305
**Filing Date:** 2026-5
**Character Count:** 388725
**Document Hash:** cd4b9d4e3a862675023320d6ca99b9ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055305.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055305

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILLIAM BLAIR FUNDS
- **CENTRAL INDEX KEY:** 0000822632

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05344
- **FILM NUMBER:** 261033491

**BUSINESS ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3123648000

**MAIL ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WILLIAM BLAIR MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 19960112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLAIR WILLIAM READY RESERVES INC
- **DATE OF NAME CHANGE:** 19920316

## Series and Classes Contracts Data

### William Blair International Leaders Fund (Series ID: S000037763)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000116468 | Class N      | WILNX           |
| C000116469 | Class I      | WILIX           |
| C000116470 | Class R6     | WILJX           |

## Nport-Ex

**Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Information Technology—48.1%** | **Information Technology—48.1%** | **Information Technology—48.1%** |
| \* <br>| Advanced Micro Devices, Inc. | 41647 | &nbsp;&nbsp; $8472 |
| \* <br>| Agilysys, Inc. | 10668 | &nbsp;&nbsp; 759 |
|  | Apple, Inc. | 51782 | &nbsp;&nbsp; 13142 |
|  | Broadcom, Inc. | 26039 | &nbsp;&nbsp; 8059 |
| \* <br>| Dynatrace, Inc. | 64050 | &nbsp;&nbsp; 2369 |
|  | Intuit Inc. | 10693 | &nbsp;&nbsp; 4624 |
|  | Microsoft Corporation | 29422 | &nbsp;&nbsp; 10891 |
|  | Motorola Solutions, Inc. | 9872 | &nbsp;&nbsp; 4284 |
|  | NVIDIA Corporation | 134914 | &nbsp;&nbsp; 23529 |
|  | Oracle Corporation | 25768 | &nbsp;&nbsp; 3791 |
| \* <br>| PDF Solutions, Inc. | 62460 | &nbsp;&nbsp; 2043 |
| \* <br>| Pure Storage, Inc. | 37787 | &nbsp;&nbsp; 2231 |
| \* <br>| ServiceNow, Inc. | 40317 | &nbsp;&nbsp; 4215 |
| \* <br>| Snowflake Inc. | 23640 | &nbsp;&nbsp; 3565 |
| \* <br>| Synaptics Incorporated | 14962 | &nbsp;&nbsp; 1048 |
|  |  |  | &nbsp;&nbsp; 93022 |
|  | **Health Care—10.2%** | **Health Care—10.2%** | **Health Care—10.2%** |
|  | Abbott Laboratories | 20586 | &nbsp;&nbsp; 2114 |
|  | Agilent Technologies, Inc. | 35944 | &nbsp;&nbsp; 4097 |
| \* <br>| GeneDx Holdings Corp. | 12879 | &nbsp;&nbsp; 827 |
| \* <br>| HealthEquity, Inc. | 12870 | &nbsp;&nbsp; 1076 |
| \* <br>| IDEXX Laboratories, Inc. | 3765 | &nbsp;&nbsp; 2115 |
| \* <br>| Inspire Medical Systems, Inc. | 16596 | &nbsp;&nbsp; 856 |
| \* <br>| Twist Bioscience Corp. | 35495 | &nbsp;&nbsp; 1687 |
|  | UnitedHealth Group Incorporated | 13734 | &nbsp;&nbsp; 3716 |
|  | West Pharmaceutical Services, Inc. | 12680 | &nbsp;&nbsp; 3178 |
|  |  |  | &nbsp;&nbsp; 19666 |
|  | **Communication Services—8.8%** | **Communication Services—8.8%** | **Communication Services—8.8%** |
|  | Alphabet Inc.—Class A | 31084 | &nbsp;&nbsp; 8939 |
|  | Meta Platforms, Inc. | 14069 | &nbsp;&nbsp; 8049 |
|  |  |  | &nbsp;&nbsp; 16988 |
|  | **Consumer Discretionary—8.6%** | **Consumer Discretionary—8.6%** | **Consumer Discretionary—8.6%** |
| \* <br>| Amazon.com, Inc. | 43611 | &nbsp;&nbsp; 9083 |
| \* <br>| Champion Homes, Inc. | 19179 | &nbsp;&nbsp; 1426 |
| \* <br>| Chipotle Mexican Grill, Inc. | 34855 | &nbsp;&nbsp; 1116 |
| \* <br>| Rush Street Interactive, Inc. | 87749 | &nbsp;&nbsp; 1909 |
|  | The TJX Companies, Inc. | 14905 | &nbsp;&nbsp; 2380 |
|  | Wingstop Inc. | 5040 | &nbsp;&nbsp; 781 |
|  |  |  | &nbsp;&nbsp; 16695 |
|  | **Financials—8.3%** | **Financials—8.3%** | **Financials—8.3%** |
| \* <br>| Baldwin Insurance Group, Inc. | 62107 | &nbsp;&nbsp; 1363 |
|  | Carlyle Group, Inc. | 73822 | &nbsp;&nbsp; 3572 |
|  | Evercore Inc. | 6894 | &nbsp;&nbsp; 2058 |
|  | Mastercard Incorporated | 18195 | &nbsp;&nbsp; 9091 |
|  |  |  | &nbsp;&nbsp; 16084 |
|  | **Industrials—6.8%** | **Industrials—6.8%** | **Industrials—6.8%** |
|  | C.H. Robinson Worldwide, Inc. | 6823 | &nbsp;&nbsp; 1133 |
| \* <br>| Copart, Inc. | 67760 | &nbsp;&nbsp; 2250 |
|  | Donaldson Company, Inc. | 13374 | &nbsp;&nbsp; 1135 |
|  | Hammond Power Solutions Inc.<sup>†</sup> | 6613 | &nbsp;&nbsp; 825 |
|  | Lincoln Electric Holdings, Inc. | 5443 | &nbsp;&nbsp; 1356 |
|  | Mueller Industries, Inc. | 15274 | &nbsp;&nbsp; 1692 |
|  | Regal Rexnord Corporation | 9038 | &nbsp;&nbsp; 1693 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Industrials—(continued)** | **Industrials—(continued)** | **Industrials—(continued)** |
|  | Terex Corporation | 16381 | &nbsp;&nbsp; $968 |
|  | TransUnion | 29008 | &nbsp;&nbsp; 2007 |
|  |  |  | &nbsp;&nbsp; 13059 |
|  | **Consumer Staples—4.5%** | **Consumer Staples—4.5%** | **Consumer Staples—4.5%** |
|  | Casey's General Stores, Inc. | 2285 | &nbsp;&nbsp; 1663 |
| \* <br>| e.l.f. Beauty, Inc. | 10714 | &nbsp;&nbsp; 649 |
|  | Primo Brands Corporation | 83181 | &nbsp;&nbsp; 1566 |
| \* <br>| The Simply Good Foods Company | 60323 | &nbsp;&nbsp; 866 |
| \* <br>| Vital Farms, Inc. | 52489 | &nbsp;&nbsp; 741 |
|  | Walmart, Inc. | 26231 | &nbsp;&nbsp; 3260 |
|  |  |  | &nbsp;&nbsp; 8745 |
|  | **Energy—2.2%** | **Energy—2.2%** | **Energy—2.2%** |
|  | Cameco Corporation<sup>†</sup> | 39331 | &nbsp;&nbsp; 4272 |
|  | **Materials—1.1%** | **Materials—1.1%** | **Materials—1.1%** |
|  | Quaker Chemical Corporation | 8424 | &nbsp;&nbsp; 1047 |
|  | Sylvamo Corporation | 25745 | &nbsp;&nbsp; 1087 |
|  |  |  | &nbsp;&nbsp; 2134 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—98.6%** <br>(cost $152,282)<br>|  | &nbsp;&nbsp; 190665 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $862, collateralized by U.S. Treasury <br> Note, 3.875%, due 03/31/2028, valued at <br> $880<br>| &nbsp;&nbsp; 862 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.4%** <br>(cost $862)<br>| &nbsp;&nbsp; 862 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.0%** <br>(cost $153,144)<br>| &nbsp;&nbsp; 191527 |
| **Cash and other assets,** <br>**less liabilities—1.0%**<br>| &nbsp;&nbsp; 1898 |
| **Net Assets—100.0%** | &nbsp;&nbsp; $193425 |

---

------

\* Non-income producing security <br> † U.S. listed foreign security

See accompanying Notes to Portfolio of Investments.

**1**

------

**Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $190665 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $190665 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 862 | &nbsp;&nbsp; — | &nbsp;&nbsp; 862 |
| **Total Investments in Securities** | $190665 | &nbsp;&nbsp; $862 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $191527 |

---

See accompanying Notes to Portfolio of Investments.

**2**

------

**Large Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Information Technology—50.9%** | **Information Technology—50.9%** | **Information Technology—50.9%** |
| \* <br>| Advanced Micro Devices, Inc. | 157260 | &nbsp;&nbsp; $31991 |
|  | Amphenol Corporation | 182540 | &nbsp;&nbsp; 23064 |
|  | Apple, Inc. | 796370 | &nbsp;&nbsp; 202111 |
|  | Broadcom, Inc. | 356350 | &nbsp;&nbsp; 110294 |
|  | Intuit Inc. | 82770 | &nbsp;&nbsp; 35788 |
|  | Microsoft Corporation | 476030 | &nbsp;&nbsp; 176212 |
|  | NVIDIA Corporation | 1461420 | &nbsp;&nbsp; 254872 |
| \* <br>| ServiceNow, Inc. | 369100 | &nbsp;&nbsp; 38589 |
| \* <br>| Snowflake Inc. | 182090 | &nbsp;&nbsp; 27463 |
|  | Texas Instruments Incorporated | 71810 | &nbsp;&nbsp; 13941 |
| \* <br>| Tyler Technologies, Inc. | 33779 | &nbsp;&nbsp; 11565 |
|  |  |  | &nbsp;&nbsp; 925890 |
|  | **Communication Services—11.1%** | **Communication Services—11.1%** | **Communication Services—11.1%** |
|  | Alphabet Inc.—Class A | 391470 | &nbsp;&nbsp; 112571 |
|  | Meta Platforms, Inc. | 154890 | &nbsp;&nbsp; 88617 |
|  |  |  | &nbsp;&nbsp; 201188 |
|  | **Consumer Discretionary—9.2%** | **Consumer Discretionary—9.2%** | **Consumer Discretionary—9.2%** |
| \* <br>| Amazon.com, Inc. | 425280 | &nbsp;&nbsp; 88573 |
| \* <br>| Cava Group Inc. | 240250 | &nbsp;&nbsp; 19436 |
| \* <br>| Chipotle Mexican Grill, Inc. | 633960 | &nbsp;&nbsp; 20293 |
|  | Marriott International, Inc. | 14320 | &nbsp;&nbsp; 4684 |
| \* <br>| O'Reilly Automotive, Inc. | 365750 | &nbsp;&nbsp; 33762 |
|  |  |  | &nbsp;&nbsp; 166748 |
|  | **Health Care—6.3%** | **Health Care—6.3%** | **Health Care—6.3%** |
|  | Agilent Technologies, Inc. | 299080 | &nbsp;&nbsp; 34089 |
| \* <br>| IDEXX Laboratories, Inc. | 57490 | &nbsp;&nbsp; 32303 |
|  | UnitedHealth Group Incorporated | 112745 | &nbsp;&nbsp; 30508 |
| \* <br>| Veeva Systems, Inc. | 106700 | &nbsp;&nbsp; 18743 |
|  |  |  | &nbsp;&nbsp; 115643 |
|  | **Financials—6.2%** | **Financials—6.2%** | **Financials—6.2%** |
|  | Carlyle Group, Inc. | 587657 | &nbsp;&nbsp; 28437 |
|  | Mastercard Incorporated | 168000 | &nbsp;&nbsp; 83943 |
|  |  |  | &nbsp;&nbsp; 112380 |
|  | **Consumer Staples—5.6%** | **Consumer Staples—5.6%** | **Consumer Staples—5.6%** |
|  | Casey's General Stores, Inc. | 20800 | &nbsp;&nbsp; 15139 |
|  | Costco Wholesale Corp. | 50560 | &nbsp;&nbsp; 50380 |
| \* <br>| Monster Beverage Corp. | 493480 | &nbsp;&nbsp; 35758 |
|  |  |  | &nbsp;&nbsp; 101277 |
|  | **Industrials—5.5%** | **Industrials—5.5%** | **Industrials—5.5%** |
|  | C.H. Robinson Worldwide, Inc. | 173590 | &nbsp;&nbsp; 28828 |
| \* <br>| Copart, Inc. | 743800 | &nbsp;&nbsp; 24694 |
|  | Mueller Industries, Inc. | 86350 | &nbsp;&nbsp; 9568 |
|  | TransUnion | 296400 | &nbsp;&nbsp; 20508 |
|  | Verisk Analytics, Inc. | 89930 | &nbsp;&nbsp; 17064 |
|  |  |  | &nbsp;&nbsp; 100662 |
|  | **Materials—3.8%** | **Materials—3.8%** | **Materials—3.8%** |
|  | Linde Public Limited Company<sup>†</sup> | 84560 | &nbsp;&nbsp; 41921 |
|  | Martin Marietta Materials, Inc. | 45860 | &nbsp;&nbsp; 26997 |
|  |  |  | &nbsp;&nbsp; 68918 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—98.6%** <br>(cost $1,343,085)<br>|  | &nbsp;&nbsp; 1792706 |

---

---

| | | |
|:---|:---|:---|
| <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
| ***Exchange-Traded Funds*** | ***Exchange-Traded Funds*** | ***Exchange-Traded Funds*** |
| **Exchange-Traded Funds—1.1%** |  |  |
| iShares Russell 1000 Growth ETF | 44920 | &nbsp;&nbsp; $19154 |
| &nbsp;&nbsp;&nbsp; **Total Exchange-Traded Funds—1.1%** <br>(cost $18,475)<br>|  | &nbsp;&nbsp; 19154 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $5,939, collateralized <br> by U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $6,058<br>| $5939 | &nbsp;&nbsp; 5939 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.3%** <br>(cost $5,939)<br>|  | &nbsp;&nbsp; 5939 |
| &nbsp;&nbsp;&nbsp; **Total Investments—100.0%** <br>(cost $1,367,499)<br>|  | &nbsp;&nbsp; 1817799 |
| **Cash and other assets,** <br>**less liabilities—0.0%**<br>|  | &nbsp;&nbsp; 527 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $1818326 |

---

------

ETF Exchange-Traded Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

See accompanying Notes to Portfolio of Investments.

**3**

------

**Large Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $1792706 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1792706 |
| &nbsp;&nbsp;&nbsp; Exchange-Traded Funds | 19154 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 19154 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 5939 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5939 |
| **Total Investments in Securities** | $1811860 | &nbsp;&nbsp; $5939 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1817799 |

---

See accompanying Notes to Portfolio of Investments.

**4**

------

**Mid Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Financials—20.1%** | **Financials—20.1%** | **Financials—20.1%** |
| \* <br>| Arch Capital Group Ltd.<sup>†</sup> | 252 | &nbsp;&nbsp; $24 |
|  | Carlyle Group, Inc. | 455 | &nbsp;&nbsp; 22 |
|  | East West Bancorp, Inc. | 235 | &nbsp;&nbsp; 25 |
|  | Everest Group Ltd. | 78 | &nbsp;&nbsp; 26 |
|  | Hartford Financial Services Group, Inc. | 179 | &nbsp;&nbsp; 24 |
|  | Huntington Bancshares, Inc. | 1564 | &nbsp;&nbsp; 24 |
|  | Jefferies Financial Group Inc. | 468 | &nbsp;&nbsp; 19 |
|  | KKR & Co., Inc. | 248 | &nbsp;&nbsp; 23 |
|  | State Street Corporation | 251 | &nbsp;&nbsp; 32 |
| \* <br>| WEX, Inc. | 166 | &nbsp;&nbsp; 25 |
|  | Willis Towers Watson PLC<sup>†</sup> | 98 | &nbsp;&nbsp; 29 |
|  |  |  | &nbsp;&nbsp; 273 |
|  | **Industrials—19.2%** | **Industrials—19.2%** | **Industrials—19.2%** |
| \* <br>| Alaska Air Group, Inc. | 531 | &nbsp;&nbsp; 19 |
|  | Allegion PLC<sup>†</sup> | 179 | &nbsp;&nbsp; 26 |
|  | Allison Transmission Holdings, Inc. | 244 | &nbsp;&nbsp; 29 |
| \* <br>| CACI International, Inc. | 48 | &nbsp;&nbsp; 26 |
|  | Donaldson Company, Inc. | 337 | &nbsp;&nbsp; 29 |
|  | Dover Corporation | 126 | &nbsp;&nbsp; 26 |
|  | JB Hunt Transport Services, Inc. | 88 | &nbsp;&nbsp; 19 |
| \* <br>| Kirby Corporation | 296 | &nbsp;&nbsp; 39 |
|  | Knight-Swift Transportation Holdings Inc. | 291 | &nbsp;&nbsp; 17 |
|  | Timken Co. | 308 | &nbsp;&nbsp; 31 |
|  |  |  | &nbsp;&nbsp; 261 |
|  | **Information Technology—10.2%** | **Information Technology—10.2%** | **Information Technology—10.2%** |
| \* <br>| Check Point Software Technologies Ltd.<sup>†</sup> | 123 | &nbsp;&nbsp; 17 |
|  | Cognizant Technology Solutions Corp. | 210 | &nbsp;&nbsp; 13 |
| \* <br>| Flex Ltd. | 395 | &nbsp;&nbsp; 26 |
|  | Hewlett Packard Enterprise Co. | 1126 | &nbsp;&nbsp; 27 |
|  | Jabil, Inc. | 87 | &nbsp;&nbsp; 23 |
|  | STMicroelectronics N.V.<sup>†</sup> | 952 | &nbsp;&nbsp; 33 |
|  |  |  | &nbsp;&nbsp; 139 |
|  | **Materials—8.8%** | **Materials—8.8%** | **Materials—8.8%** |
|  | CEMEX S.A.B de C.V | 1977 | &nbsp;&nbsp; 22 |
|  | Crown Holdings, Inc. | 216 | &nbsp;&nbsp; 22 |
|  | Element Solutions Inc | 847 | &nbsp;&nbsp; 29 |
|  | International Paper Company | 622 | &nbsp;&nbsp; 22 |
|  | Royal Gold, Inc. | 97 | &nbsp;&nbsp; 25 |
|  |  |  | &nbsp;&nbsp; 120 |
|  | **Health Care—8.2%** | **Health Care—8.2%** | **Health Care—8.2%** |
|  | Cencora, Inc. | 64 | &nbsp;&nbsp; 20 |
|  | Encompass Health Corp. | 217 | &nbsp;&nbsp; 21 |
| \* <br>| Globus Medical, Inc. | 424 | &nbsp;&nbsp; 36 |
| \* <br>| ICON PLC<sup>†</sup> | 141 | &nbsp;&nbsp; 16 |
|  | Labcorp Holdings, Inc. | 68 | &nbsp;&nbsp; 18 |
|  |  |  | &nbsp;&nbsp; 111 |
|  | **Real Estate—8.1%** | **Real Estate—8.1%** | **Real Estate—8.1%** |
|  | Camden Property Trust | 154 | &nbsp;&nbsp; 15 |
|  | Healthpeak Properties, Inc. | 1129 | &nbsp;&nbsp; 18 |
|  | Host Hotels & Resorts, Inc. | 1230 | &nbsp;&nbsp; 24 |
|  | Regency Centers Corp. | 378 | &nbsp;&nbsp; 29 |
|  | VICI Properties, Inc. | 866 | &nbsp;&nbsp; 24 |
|  |  |  | &nbsp;&nbsp; 110 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Energy—6.9%** | **Energy—6.9%** | **Energy—6.9%** |
|  | Coterra Energy, Inc. | 366 | &nbsp;&nbsp; $13 |
|  | Diamondback Energy, Inc. | 82 | &nbsp;&nbsp; 16 |
|  | Expand Energy Corporation | 163 | &nbsp;&nbsp; 18 |
|  | Permian Resources Corp. | 661 | &nbsp;&nbsp; 14 |
|  | Phillips 66 | 174 | &nbsp;&nbsp; 32 |
|  |  |  | &nbsp;&nbsp; 93 |
|  | **Utilities—6.8%** | **Utilities—6.8%** | **Utilities—6.8%** |
|  | Entergy Corp. | 318 | &nbsp;&nbsp; 36 |
|  | NiSource, Inc. | 592 | &nbsp;&nbsp; 27 |
|  | PPL Corp. | 777 | &nbsp;&nbsp; 30 |
|  |  |  | &nbsp;&nbsp; 93 |
|  | **Consumer Staples—5.6%** | **Consumer Staples—5.6%** | **Consumer Staples—5.6%** |
|  | Ingredion, Inc. | 139 | &nbsp;&nbsp; 16 |
|  | Molson Coors Beverage Co. | 414 | &nbsp;&nbsp; 18 |
|  | Tyson Foods, Inc. | 259 | &nbsp;&nbsp; 16 |
| \* <br>| U.S. Foods Holding Corp. | 285 | &nbsp;&nbsp; 26 |
|  |  |  | &nbsp;&nbsp; 76 |
|  | **Consumer Discretionary—3.8%** | **Consumer Discretionary—3.8%** | **Consumer Discretionary—3.8%** |
|  | Brunswick Corp. | 277 | &nbsp;&nbsp; 20 |
|  | Toll Brothers, Inc. | 222 | &nbsp;&nbsp; 31 |
|  |  |  | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.7%** <br>(cost $1,092)<br>|  | &nbsp;&nbsp; 1327 |
|  | &nbsp;&nbsp;&nbsp; **Total Investments—97.7%** <br>(cost $1,092)<br>|  | &nbsp;&nbsp; 1327 |
|  | **Cash and other assets,** <br>**less liabilities—2.3%**<br>|  | &nbsp;&nbsp; 31 |
|  | **Net Assets—100.0%** |  | &nbsp;&nbsp; $1358 |

---

------

PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

See accompanying Notes to Portfolio of Investments.

**5**

------

**Mid Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $1327 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1327 |

---

See accompanying Notes to Portfolio of Investments.

**6**

------

**Small-Mid Cap Core Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Industrials—22.1%** | **Industrials—22.1%** | **Industrials—22.1%** |
| \* <br>| APi Group Corporation | 42053 | &nbsp;&nbsp; $1704 |
|  | Applied Industrial Technologies, Inc. | 11403 | &nbsp;&nbsp; 3025 |
|  | BWX Technologies, Inc. | 13712 | &nbsp;&nbsp; 2804 |
|  | Carpenter Technology Corporation | 7226 | &nbsp;&nbsp; 2848 |
| \* <br>| Casella Waste Systems, Inc. | 23467 | &nbsp;&nbsp; 1862 |
|  | Curtiss-Wright Corporation | 4700 | &nbsp;&nbsp; 3201 |
|  | Donaldson Company, Inc. | 32645 | &nbsp;&nbsp; 2771 |
| \* <br>| Dycom Industries, Inc. | 6518 | &nbsp;&nbsp; 2208 |
|  | Flowserve Corp. | 41882 | &nbsp;&nbsp; 3079 |
|  | JBT Marel Corp | 22328 | &nbsp;&nbsp; 2855 |
|  | Kennametal Inc. | 59871 | &nbsp;&nbsp; 2163 |
|  | Knight-Swift Transportation Holdings Inc. | 28282 | &nbsp;&nbsp; 1628 |
|  | Lincoln Electric Holdings, Inc. | 11326 | &nbsp;&nbsp; 2821 |
|  | Mueller Industries, Inc. | 23128 | &nbsp;&nbsp; 2563 |
|  | nVent Electric PLC<sup>†</sup> | 18850 | &nbsp;&nbsp; 2230 |
|  | Owens Corning | 13872 | &nbsp;&nbsp; 1501 |
|  | Regal Rexnord Corporation | 10028 | &nbsp;&nbsp; 1878 |
|  | Tecnoglass, Inc. | 21995 | &nbsp;&nbsp; 980 |
|  | Terex Corporation | 35748 | &nbsp;&nbsp; 2113 |
|  | TransUnion | 37797 | &nbsp;&nbsp; 2615 |
|  | UL Solutions Inc. | 31128 | &nbsp;&nbsp; 2668 |
|  |  |  | &nbsp;&nbsp; 49517 |
|  | **Information Technology—18.3%** | **Information Technology—18.3%** | **Information Technology—18.3%** |
| \* <br>| Agilysys, Inc. | 27951 | &nbsp;&nbsp; 1988 |
| \* <br>| Akamai Technologies, Inc. | 37130 | &nbsp;&nbsp; 4264 |
|  | Bentley Systems, Incorporated | 40332 | &nbsp;&nbsp; 1417 |
| \* <br>| Ciena Corporation | 12412 | &nbsp;&nbsp; 4819 |
| \* <br>| Coherent Corp. | 15219 | &nbsp;&nbsp; 3625 |
| \* <br>| Descartes Systems Group, Inc.<sup>†</sup> | 17024 | &nbsp;&nbsp; 1218 |
| \* <br>| Diebold Nixdorf, Inc. | 65198 | &nbsp;&nbsp; 4919 |
| \* <br>| Dynatrace, Inc. | 61096 | &nbsp;&nbsp; 2259 |
| \* <br>| F5, Inc. | 15577 | &nbsp;&nbsp; 4507 |
|  | Littelfuse, Inc. | 7145 | &nbsp;&nbsp; 2425 |
| \* <br>| Onto Innovation, Inc. | 15732 | &nbsp;&nbsp; 3226 |
| \* <br>| OSI Systems, Inc. | 7829 | &nbsp;&nbsp; 2079 |
|  | Power Integrations, Inc. | 44225 | &nbsp;&nbsp; 2264 |
| \* <br>| Pure Storage, Inc. | 35356 | &nbsp;&nbsp; 2087 |
|  |  |  | &nbsp;&nbsp; 41097 |
|  | **Financials—13.1%** | **Financials—13.1%** | **Financials—13.1%** |
|  | Atlantic Union Bankshares Corporation | 52936 | &nbsp;&nbsp; 1892 |
| \* <br>| Baldwin Insurance Group, Inc. | 132163 | &nbsp;&nbsp; 2900 |
|  | Banner Corp. | 54979 | &nbsp;&nbsp; 3336 |
|  | Carlyle Group, Inc. | 69352 | &nbsp;&nbsp; 3356 |
|  | East West Bancorp, Inc. | 27045 | &nbsp;&nbsp; 2887 |
|  | Everest Group Ltd.<sup>†</sup> | 12753 | &nbsp;&nbsp; 4168 |
|  | Marex Group PLC<sup>†</sup> | 67883 | &nbsp;&nbsp; 3026 |
|  | National Bank Holdings Corporation | 60656 | &nbsp;&nbsp; 2375 |
|  | Old National Bancorp | 172884 | &nbsp;&nbsp; 3821 |
|  | Perella Weinberg Partners | 84123 | &nbsp;&nbsp; 1528 |
|  |  |  | &nbsp;&nbsp; 29289 |
|  | **Consumer Discretionary—12.4%** | **Consumer Discretionary—12.4%** | **Consumer Discretionary—12.4%** |
| \* <br>| Birkenstock Holding plc | 62313 | &nbsp;&nbsp; 2233 |
|  | BorgWarner Inc. | 78711 | &nbsp;&nbsp; 4271 |
| \* <br>| Bright Horizons Family Solutions, Inc. | 18182 | &nbsp;&nbsp; 1493 |
| \* <br>| Champion Homes, Inc. | 33622 | &nbsp;&nbsp; 2501 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Consumer Discretionary—(continued)** | **Consumer Discretionary—(continued)** | **Consumer Discretionary—(continued)** |
|  | Garrett Motion, Inc. | 179870 | &nbsp;&nbsp; $3268 |
| \* <br>| Grand Canyon Education, Inc. | 18572 | &nbsp;&nbsp; 3158 |
| \* <br>| National Vision Holdings, Inc. | 74432 | &nbsp;&nbsp; 1928 |
|  | Pool Corp. | 10839 | &nbsp;&nbsp; 2193 |
| \* <br>| Revolve Group, Inc. | 95194 | &nbsp;&nbsp; 2152 |
| \* <br>| SharkNinja, Inc. | 26337 | &nbsp;&nbsp; 2789 |
|  | Texas Roadhouse, Inc. | 10967 | &nbsp;&nbsp; 1811 |
|  |  |  | &nbsp;&nbsp; 27797 |
|  | **Health Care—11.2%** | **Health Care—11.2%** | **Health Care—11.2%** |
|  | Bio-Techne Corp. | 57725 | &nbsp;&nbsp; 3017 |
| \* <br>| Doximity, Inc. | 79656 | &nbsp;&nbsp; 1856 |
|  | Encompass Health Corp. | 17627 | &nbsp;&nbsp; 1705 |
| \* <br>| GeneDx Holdings Corp. | 9031 | &nbsp;&nbsp; 580 |
| \* <br>| Halozyme Therapeutics, Inc. | 41820 | &nbsp;&nbsp; 2703 |
| \* <br>| HealthEquity, Inc. | 31514 | &nbsp;&nbsp; 2633 |
| \* <br>| Integer Holdings Corp. | 38795 | &nbsp;&nbsp; 3414 |
| \* <br>| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals Public Limited <br> Company<br>| 9586 | &nbsp;&nbsp; 1812 |
| \* <br>| Merit Medical Systems, Inc. | 32757 | &nbsp;&nbsp; 2258 |
| \* <br>| Twist Bioscience Corp. | 52588 | &nbsp;&nbsp; 2499 |
| \* <br>| Vericel Corp. | 84953 | &nbsp;&nbsp; 2733 |
|  |  |  | &nbsp;&nbsp; 25210 |
|  | **Real Estate—7.0%** | **Real Estate—7.0%** | **Real Estate—7.0%** |
|  | Agree Realty Corp. | 29530 | &nbsp;&nbsp; 2226 |
|  | Americold Realty Trust, Inc. | 115683 | &nbsp;&nbsp; 1326 |
|  | Equity LifeStyle Properties, Inc. | 49944 | &nbsp;&nbsp; 3117 |
|  | Healthcare Realty Trust, Inc. | 180873 | &nbsp;&nbsp; 3073 |
| \* <br>| Jones Lang LaSalle Incorporated | 11089 | &nbsp;&nbsp; 3375 |
|  | Rexford Industrial Realty, Inc. | 78338 | &nbsp;&nbsp; 2564 |
|  |  |  | &nbsp;&nbsp; 15681 |
|  | **Materials—5.0%** | **Materials—5.0%** | **Materials—5.0%** |
|  | Avery Dennison Corporation | 11218 | &nbsp;&nbsp; 1937 |
|  | Eagle Materials Inc. | 10213 | &nbsp;&nbsp; 1935 |
|  | Quaker Chemical Corporation | 16927 | &nbsp;&nbsp; 2103 |
|  | Reliance, Inc. | 9324 | &nbsp;&nbsp; 2834 |
|  | Sylvamo Corporation | 58249 | &nbsp;&nbsp; 2460 |
|  |  |  | &nbsp;&nbsp; 11269 |
|  | **Consumer Staples—3.6%** | **Consumer Staples—3.6%** | **Consumer Staples—3.6%** |
| \* <br>| Freshpet, Inc. | 30223 | &nbsp;&nbsp; 1782 |
| \* <br>| Maplebear Inc. | 47472 | &nbsp;&nbsp; 1778 |
|  | Primo Brands Corporation | 193562 | &nbsp;&nbsp; 3645 |
| \* <br>| The Simply Good Foods Company | 57671 | &nbsp;&nbsp; 828 |
|  |  |  | &nbsp;&nbsp; 8033 |
|  | **Energy—3.3%** | **Energy—3.3%** | **Energy—3.3%** |
| \* <br>| Antero Resources Corp. | 53389 | &nbsp;&nbsp; 2266 |
|  | Cameco Corporation<sup>†</sup> | 25952 | &nbsp;&nbsp; 2819 |
|  | Weatherford International PLC | 23869 | &nbsp;&nbsp; 2257 |
|  |  |  | &nbsp;&nbsp; 7342 |
|  | **Utilities—3.2%** | **Utilities—3.2%** | **Utilities—3.2%** |
|  | IDACORP, Inc. | 29358 | &nbsp;&nbsp; 4197 |
| \* <br>| Talen Energy Corporation | 9609 | &nbsp;&nbsp; 3068 |
|  |  |  | &nbsp;&nbsp; 7265 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.2%** <br>(cost $213,722)<br>|  | &nbsp;&nbsp; 222500 |

---

See accompanying Notes to Portfolio of Investments.

**7**

------

**Small-Mid Cap Core Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $4,643, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $4,735<br>| $4643 | &nbsp;&nbsp; $4643 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—2.0%** <br>(cost $4,643)<br>|  | &nbsp;&nbsp; 4643 |
| &nbsp;&nbsp;&nbsp; **Total Investments—101.2%** <br>(cost $218,365)<br>|  | &nbsp;&nbsp; 227143 |
| **Liabilities, plus cash and** <br>**other assets—(1.2)%**<br>|  | &nbsp;&nbsp; (2781)<br>|
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $224362 |

---

------

PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $222500 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $222500 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 4643 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4643 |
| **Total Investments in Securities** | $222500 | &nbsp;&nbsp; $4643 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $227143 |

---

See accompanying Notes to Portfolio of Investments.

**8**

------

**Small-Mid Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Industrials—25.1%** | **Industrials—25.1%** | **Industrials—25.1%** |
| \* <br>| ACV Auctions, Inc. | 630487 | &nbsp;&nbsp; $2673 |
|  | Advanced Drainage Systems, Inc. | 96200 | &nbsp;&nbsp; 13192 |
| \* <br>| APi Group Corporation | 209100 | &nbsp;&nbsp; 8473 |
|  | BWX Technologies, Inc. | 112849 | &nbsp;&nbsp; 23077 |
|  | Carpenter Technology Corporation | 43500 | &nbsp;&nbsp; 17146 |
| \* <br>| Casella Waste Systems, Inc. | 120661 | &nbsp;&nbsp; 9573 |
| \* <br>| Clean Harbors, Inc. | 65100 | &nbsp;&nbsp; 18666 |
|  | Curtiss-Wright Corporation | 29100 | &nbsp;&nbsp; 19821 |
|  | Donaldson Company, Inc. | 195700 | &nbsp;&nbsp; 16609 |
|  | Kennametal Inc. | 298400 | &nbsp;&nbsp; 10781 |
|  | Lincoln Electric Holdings, Inc. | 64200 | &nbsp;&nbsp; 15991 |
|  | Mueller Industries, Inc. | 204200 | &nbsp;&nbsp; 22625 |
| \* <br>| Nextracker Inc. | 184900 | &nbsp;&nbsp; 22290 |
|  | nVent Electric PLC<sup>†</sup> | 159100 | &nbsp;&nbsp; 18818 |
| \* <br>| Parsons Corp. | 218300 | &nbsp;&nbsp; 11825 |
|  | Regal Rexnord Corporation | 73700 | &nbsp;&nbsp; 13801 |
| \* <br>| Saia, Inc. | 25000 | &nbsp;&nbsp; 8782 |
| \* <br>| Sterling Infrastructure, Inc. | 34700 | &nbsp;&nbsp; 14132 |
|  | TransUnion | 113700 | &nbsp;&nbsp; 7867 |
|  | WillScot Mobile Mini Holdings Corp. | 219223 | &nbsp;&nbsp; 3806 |
|  |  |  | &nbsp;&nbsp; 279948 |
|  | **Information Technology—22.3%** | **Information Technology—22.3%** | **Information Technology—22.3%** |
| \* <br>| Akamai Technologies, Inc. | 196800 | &nbsp;&nbsp; 22602 |
| \* <br>| AppFolio, Inc. | 66246 | &nbsp;&nbsp; 10455 |
|  | Bentley Systems, Incorporated | 443300 | &nbsp;&nbsp; 15569 |
| \* <br>| Ciena Corporation | 44500 | &nbsp;&nbsp; 17276 |
| \* <br>| Coherent Corp. | 80600 | &nbsp;&nbsp; 19200 |
| \* <br>| Dynatrace, Inc. | 386586 | &nbsp;&nbsp; 14296 |
| \* <br>| F5, Inc. | 78244 | &nbsp;&nbsp; 22638 |
| \* <br>| Guidewire Software, Inc. | 50155 | &nbsp;&nbsp; 7501 |
| \* <br>| Lattice Semiconductor Corp. | 256685 | &nbsp;&nbsp; 23810 |
|  | Littelfuse, Inc. | 26900 | &nbsp;&nbsp; 9129 |
| \* <br>| Manhattan Associates, Inc. | 92400 | &nbsp;&nbsp; 12300 |
| \* <br>| Novanta, Inc. | 74454 | &nbsp;&nbsp; 8794 |
| \* <br>| Onto Innovation, Inc. | 108666 | &nbsp;&nbsp; 22284 |
|  | Power Integrations, Inc. | 220514 | &nbsp;&nbsp; 11290 |
| \* <br>| Pure Storage, Inc. | 342100 | &nbsp;&nbsp; 20198 |
| \* <br>| Synaptics Incorporated | 157600 | &nbsp;&nbsp; 11038 |
|  |  |  | &nbsp;&nbsp; 248380 |
|  | **Health Care—19.2%** | **Health Care—19.2%** | **Health Care—19.2%** |
| \* <br>| Alignment Healthcare, Inc. | 420600 | &nbsp;&nbsp; 7411 |
|  | Bio-Techne Corp. | 298700 | &nbsp;&nbsp; 15610 |
| \* <br>| Cytokinetics, Incorporated | 108500 | &nbsp;&nbsp; 7151 |
| \* <br>| Doximity, Inc. | 497252 | &nbsp;&nbsp; 11586 |
|  | Encompass Health Corp. | 97917 | &nbsp;&nbsp; 9471 |
| \* <br>| GeneDx Holdings Corp. | 73218 | &nbsp;&nbsp; 4702 |
| \* <br>| Glaukos Corporation | 114100 | &nbsp;&nbsp; 12284 |
| \* <br>| Globus Medical, Inc. | 217495 | &nbsp;&nbsp; 18739 |
| \* <br>| Guardant Health, Inc. | 139700 | &nbsp;&nbsp; 12904 |
| \* <br>| Halozyme Therapeutics, Inc. | 244400 | &nbsp;&nbsp; 15796 |
| \* <br>| HealthEquity, Inc. | 156800 | &nbsp;&nbsp; 13104 |
| \* <br>| Insmed, Inc. | 132551 | &nbsp;&nbsp; 21675 |
| \* <br>| Inspire Medical Systems, Inc. | 109400 | &nbsp;&nbsp; 5643 |
| \* <br>| Insulet Corp. | 20365 | &nbsp;&nbsp; 4273 |
| \* <br>| Krystal Biotech, Inc. | 36000 | &nbsp;&nbsp; 9300 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Health Care—(continued)** | **Health Care—(continued)** | **Health Care—(continued)** |
| \* <br>| Madrigal Pharmaceuticals, Inc. | 38600 | &nbsp;&nbsp; $20206 |
| \* <br>| Twist Bioscience Corp. | 512073 | &nbsp;&nbsp; 24334 |
|  |  |  | &nbsp;&nbsp; 214189 |
|  | **Consumer Discretionary—11.1%** | **Consumer Discretionary—11.1%** | **Consumer Discretionary—11.1%** |
| \* <br>| Birkenstock Holding plc | 309300 | &nbsp;&nbsp; 11082 |
|  | BorgWarner Inc. | 269945 | &nbsp;&nbsp; 14647 |
| \* <br>| Bright Horizons Family Solutions, Inc. | 127178 | &nbsp;&nbsp; 10445 |
| \* <br>| Cava Group Inc. | 147600 | &nbsp;&nbsp; 11941 |
|  | Churchill Downs, Inc. | 164900 | &nbsp;&nbsp; 14813 |
| \* <br>| Grand Canyon Education, Inc. | 85200 | &nbsp;&nbsp; 14486 |
| \* <br>| National Vision Holdings, Inc. | 365700 | &nbsp;&nbsp; 9472 |
| \* <br>| Planet Fitness, Inc. | 165300 | &nbsp;&nbsp; 12295 |
|  | Pool Corp. | 54400 | &nbsp;&nbsp; 11007 |
| \* <br>| SharkNinja, Inc. | 128500 | &nbsp;&nbsp; 13608 |
|  |  |  | &nbsp;&nbsp; 123796 |
|  | **Financials—9.3%** | **Financials—9.3%** | **Financials—9.3%** |
| \* <br>| Baldwin Insurance Group, Inc. | 603410 | &nbsp;&nbsp; 13239 |
|  | Carlyle Group, Inc. | 317493 | &nbsp;&nbsp; 15363 |
|  | Cullen/Frost Bankers, Inc. | 89500 | &nbsp;&nbsp; 12269 |
|  | Evercore Inc. | 35200 | &nbsp;&nbsp; 10508 |
|  | Everest Group Ltd.<sup>†</sup> | 59132 | &nbsp;&nbsp; 19327 |
|  | First Horizon Corporation | 746500 | &nbsp;&nbsp; 16990 |
|  | StepStone Group Inc. | 199666 | &nbsp;&nbsp; 9528 |
|  | TPG, Inc. | 163324 | &nbsp;&nbsp; 6616 |
|  |  |  | &nbsp;&nbsp; 103840 |
|  | **Consumer Staples—4.5%** | **Consumer Staples—4.5%** | **Consumer Staples—4.5%** |
| \* <br>| BellRing Brands, Inc. | 445200 | &nbsp;&nbsp; 7163 |
| \* <br>| Freshpet, Inc. | 168079 | &nbsp;&nbsp; 9910 |
| \* <br>| Maplebear Inc. | 230826 | &nbsp;&nbsp; 8647 |
|  | Primo Brands Corporation | 1328343 | &nbsp;&nbsp; 25013 |
|  |  |  | &nbsp;&nbsp; 50733 |
|  | **Materials—2.9%** | **Materials—2.9%** | **Materials—2.9%** |
|  | Eagle Materials Inc. | 61187 | &nbsp;&nbsp; 11592 |
|  | Louisiana-Pacific Corp. | 87200 | &nbsp;&nbsp; 6344 |
|  | Reliance, Inc. | 48300 | &nbsp;&nbsp; 14679 |
|  |  |  | &nbsp;&nbsp; 32615 |
|  | **Utilities—1.9%** | **Utilities—1.9%** | **Utilities—1.9%** |
| \* <br>| Talen Energy Corporation | 66500 | &nbsp;&nbsp; 21229 |
|  | **Energy—1.7%** | **Energy—1.7%** | **Energy—1.7%** |
|  | Cameco Corporation<sup>†</sup> | 172388 | &nbsp;&nbsp; 18723 |
|  | **Real Estate—1.4%** | **Real Estate—1.4%** | **Real Estate—1.4%** |
|  | FirstService Corp. | 47835 | &nbsp;&nbsp; 6646 |
|  | Landbridge Company LLC | 130297 | &nbsp;&nbsp; 8997 |
|  |  |  | &nbsp;&nbsp; 15643 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.4%** <br>(cost $1,013,252)<br>|  | &nbsp;&nbsp; 1109096 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | ***Rights*** | ***Rights*** | ***Rights*** |
| \* <br>| Abiomed, Inc. \*\* | 80133 | &nbsp;&nbsp; 0 |

---

See accompanying Notes to Portfolio of Investments.

**9**

------

**Small-Mid Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $16,468, <br> collateralized by U.S. Treasury Note, <br> 3.875%, due 03/31/2028, valued at <br> $16,797<br>| $16468 | &nbsp;&nbsp; $16468 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—1.5%** <br>(cost $16,468)<br>|  | &nbsp;&nbsp; 16468 |
| &nbsp;&nbsp;&nbsp; **Total Investments—100.9%** <br>(cost $1,029,802)<br>|  | &nbsp;&nbsp; 1125564 |
| **Liabilities, plus cash and** <br>**other assets—(0.9)%**<br>|  | &nbsp;&nbsp; (9926)<br>|
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $1115638 |

---

------

PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Non-income producing security |
| † | U.S. listed foreign security |
| \*\* | Fair valued pursuant to the Fund's Valuation Procedures. This <br> holding represents 0.00% of the Fund's net assets at March 31, 2026.<br>|

---

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $1109096 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1109096 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 16468 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16468 |
| &nbsp;&nbsp;&nbsp; Rights |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **Total Investments in Securities** | $1109096 | &nbsp;&nbsp; $16468 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1125564 |

---

See accompanying Notes to Portfolio of Investments.

**10**

------

**Small-Mid Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Industrials—28.3%** | **Industrials—28.3%** | **Industrials—28.3%** |
|  | ABM Industries, Inc. | 606 | &nbsp;&nbsp; $23 |
| \* <br>| Alaska Air Group, Inc. | 895 | &nbsp;&nbsp; 33 |
|  | Albany International Corp. | 796 | &nbsp;&nbsp; 42 |
|  | Allegion PLC<sup>†</sup> | 337 | &nbsp;&nbsp; 49 |
|  | Allison Transmission Holdings, Inc. | 517 | &nbsp;&nbsp; 61 |
|  | Atmus Filtration Technologies Inc. | 1130 | &nbsp;&nbsp; 64 |
| \* <br>| CACI International, Inc. | 70 | &nbsp;&nbsp; 38 |
|  | Donaldson Company, Inc. | 642 | &nbsp;&nbsp; 54 |
|  | Dover Corporation | 215 | &nbsp;&nbsp; 45 |
|  | Helios Technologies, Inc. | 793 | &nbsp;&nbsp; 51 |
| \* <br>| Janus International Group, Inc. | 4291 | &nbsp;&nbsp; 22 |
|  | JB Hunt Transport Services, Inc. | 261 | &nbsp;&nbsp; 55 |
| \* <br>| Kirby Corporation | 485 | &nbsp;&nbsp; 64 |
|  | Knight-Swift Transportation Holdings Inc. | 700 | &nbsp;&nbsp; 40 |
|  | Matson, Inc. | 287 | &nbsp;&nbsp; 47 |
|  | Maximus, Inc. | 511 | &nbsp;&nbsp; 33 |
|  | McGrath RentCorp | 430 | &nbsp;&nbsp; 47 |
| \* <br>| Modine Manufacturing Co. | 390 | &nbsp;&nbsp; 85 |
|  | Rush Enterprises, Inc. | 448 | &nbsp;&nbsp; 30 |
| \* <br>| SkyWest, Inc. | 288 | &nbsp;&nbsp; 26 |
|  | Tecnoglass, Inc. | 959 | &nbsp;&nbsp; 43 |
|  | Timken Co. | 514 | &nbsp;&nbsp; 52 |
| \* <br>| Trex Company, Inc. | 952 | &nbsp;&nbsp; 35 |
|  |  |  | &nbsp;&nbsp; 1039 |
|  | **Financials—18.6%** | **Financials—18.6%** | **Financials—18.6%** |
|  | American Financial Group, Inc. | 295 | &nbsp;&nbsp; 38 |
|  | Ameris Bancorp | 710 | &nbsp;&nbsp; 55 |
|  | Carlyle Group, Inc. | 1034 | &nbsp;&nbsp; 50 |
|  | Columbia Banking System, Inc. | 2196 | &nbsp;&nbsp; 60 |
|  | Cullen/Frost Bankers, Inc. | 346 | &nbsp;&nbsp; 48 |
|  | East West Bancorp, Inc. | 448 | &nbsp;&nbsp; 48 |
|  | Eastern Bankshares, Inc. | 3399 | &nbsp;&nbsp; 67 |
|  | Essent Group Ltd. | 717 | &nbsp;&nbsp; 42 |
|  | Everest Group Ltd.<sup>†</sup> | 145 | &nbsp;&nbsp; 47 |
|  | Jefferies Financial Group Inc. | 951 | &nbsp;&nbsp; 39 |
|  | Selective Insurance Group, Inc. | 574 | &nbsp;&nbsp; 43 |
|  | SouthState Bank Corporation | 656 | &nbsp;&nbsp; 61 |
|  | UMB Financial Corporation | 354 | &nbsp;&nbsp; 40 |
| \* <br>| WEX, Inc. | 302 | &nbsp;&nbsp; 46 |
|  |  |  | &nbsp;&nbsp; 684 |
|  | **Information Technology—10.4%** | **Information Technology—10.4%** | **Information Technology—10.4%** |
|  | Avnet, Inc. | 883 | &nbsp;&nbsp; 55 |
|  | Belden, Inc. | 349 | &nbsp;&nbsp; 40 |
| \* <br>| Diodes, Inc. | 778 | &nbsp;&nbsp; 53 |
| \* <br>| Flex Ltd. | 982 | &nbsp;&nbsp; 64 |
|  | Jabil, Inc. | 122 | &nbsp;&nbsp; 33 |
| \* <br>| Tower Semiconductor Ltd.<sup>†</sup> | 475 | &nbsp;&nbsp; 83 |
|  | Vishay Intertechnology, Inc. | 2901 | &nbsp;&nbsp; 52 |
|  |  |  | &nbsp;&nbsp; 380 |
|  | **Real Estate—7.3%** | **Real Estate—7.3%** | **Real Estate—7.3%** |
|  | Camden Property Trust | 268 | &nbsp;&nbsp; 26 |
|  | Four Corners Property Trust, Inc. | 1461 | &nbsp;&nbsp; 35 |
|  | Healthpeak Properties, Inc. | 2177 | &nbsp;&nbsp; 36 |
|  | Host Hotels & Resorts, Inc. | 2009 | &nbsp;&nbsp; 38 |
|  | Kite Realty Group Trust | 1676 | &nbsp;&nbsp; 41 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Real Estate—(continued)** | **Real Estate—(continued)** | **Real Estate—(continued)** |
|  | Regency Centers Corp. | 593 | &nbsp;&nbsp; $45 |
|  | STAG Industrial, Inc. | 1258 | &nbsp;&nbsp; 45 |
|  |  |  | &nbsp;&nbsp; 266 |
|  | **Health Care—6.7%** | **Health Care—6.7%** | **Health Care—6.7%** |
|  | Encompass Health Corp. | 319 | &nbsp;&nbsp; 31 |
| \* <br>| Globus Medical, Inc. | 682 | &nbsp;&nbsp; 59 |
| \* <br>| ICON PLC<sup>†</sup> | 271 | &nbsp;&nbsp; 30 |
| \* <br>| ICU Medical, Inc. | 344 | &nbsp;&nbsp; 44 |
|  | Labcorp Holdings, Inc. | 143 | &nbsp;&nbsp; 38 |
| \* <br>| Lantheus Holdings, Inc. | 577 | &nbsp;&nbsp; 44 |
|  |  |  | &nbsp;&nbsp; 246 |
|  | **Energy—6.5%** | **Energy—6.5%** | **Energy—6.5%** |
|  | Expand Energy Corporation | 344 | &nbsp;&nbsp; 38 |
| \* <br>| Expro Group Holdings NV | 3480 | &nbsp;&nbsp; 60 |
|  | Matador Resources Co. | 919 | &nbsp;&nbsp; 58 |
|  | PBF Energy, Inc. | 1000 | &nbsp;&nbsp; 48 |
|  | Permian Resources Corp. | 1670 | &nbsp;&nbsp; 35 |
|  |  |  | &nbsp;&nbsp; 239 |
|  | **Consumer Discretionary—6.3%** | **Consumer Discretionary—6.3%** | **Consumer Discretionary—6.3%** |
|  | Brunswick Corp. | 499 | &nbsp;&nbsp; 36 |
| \* <br>| Laureate Education, Inc. | 1382 | &nbsp;&nbsp; 48 |
| \* <br>| Taylor Morrison Home Corp. | 516 | &nbsp;&nbsp; 30 |
| \* <br>| Valvoline Inc. | 1527 | &nbsp;&nbsp; 52 |
|  | Winnebago Industries, Inc. | 461 | &nbsp;&nbsp; 14 |
|  | Wyndham Hotels & Resorts, Inc. | 618 | &nbsp;&nbsp; 50 |
|  |  |  | &nbsp;&nbsp; 230 |
|  | **Materials—5.5%** | **Materials—5.5%** | **Materials—5.5%** |
|  | Crown Holdings, Inc. | 397 | &nbsp;&nbsp; 40 |
|  | Eagle Materials Inc. | 213 | &nbsp;&nbsp; 40 |
|  | Element Solutions Inc | 1631 | &nbsp;&nbsp; 56 |
|  | Royal Gold, Inc. | 190 | &nbsp;&nbsp; 48 |
| \* <br>| Taseko Mines Limited | 2737 | &nbsp;&nbsp; 18 |
|  |  |  | &nbsp;&nbsp; 202 |
|  | **Utilities—4.1%** | **Utilities—4.1%** | **Utilities—4.1%** |
|  | IDACORP, Inc. | 370 | &nbsp;&nbsp; 53 |
|  | NiSource, Inc. | 1109 | &nbsp;&nbsp; 52 |
|  | PPL Corp. | 1192 | &nbsp;&nbsp; 45 |
|  |  |  | &nbsp;&nbsp; 150 |
|  | **Communication Services—2.2%** | **Communication Services—2.2%** | **Communication Services—2.2%** |
| \* <br>| CarGurus, Inc. | 1346 | &nbsp;&nbsp; 46 |
|  | John Wiley & Sons, Inc. | 916 | &nbsp;&nbsp; 35 |
|  |  |  | &nbsp;&nbsp; 81 |
|  | **Consumer Staples—1.7%** | **Consumer Staples—1.7%** | **Consumer Staples—1.7%** |
|  | Ingredion, Inc. | 250 | &nbsp;&nbsp; 28 |
|  | Molson Coors Beverage Co. | 803 | &nbsp;&nbsp; 35 |
|  |  |  | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.6%** <br>(cost $3,188)<br>|  | &nbsp;&nbsp; 3580 |

---

See accompanying Notes to Portfolio of Investments.

**11**

------

**Small-Mid Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase price <br> $114, collateralized by U.S. Treasury Note, <br> 3.875%, due 03/31/2028, valued at $116<br>| $114 | &nbsp;&nbsp; $114 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—3.1%** <br>(cost $114)<br>|  | &nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; **Total Investments—100.7%** <br>(cost $3,302)<br>|  | &nbsp;&nbsp; 3694 |
| **Liabilities, plus cash and** <br>**other assets—(0.7)%**<br>|  | &nbsp;&nbsp; (26)<br>|
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $3668 |

---

------

PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $3580 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3580 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 114 | &nbsp;&nbsp; — | &nbsp;&nbsp; 114 |
| **Total Investments in Securities** | $3580 | &nbsp;&nbsp; $114 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3694 |

---

See accompanying Notes to Portfolio of Investments.

**12**

------

**Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Health Care—21.6%** | **Health Care—21.6%** | **Health Care—21.6%** |
| \* <br>| Alignment Healthcare, Inc. | 811848 | &nbsp;&nbsp; $14305 |
| \* <br>| Cytokinetics, Incorporated | 120490 | &nbsp;&nbsp; 7941 |
| \* <br>| Doximity, Inc. | 292150 | &nbsp;&nbsp; 6807 |
| \* <br>| Establishment Labs Holdings, Inc.<sup>†</sup> | 237980 | &nbsp;&nbsp; 13512 |
| \* <br>| GeneDx Holdings Corp. | 61865 | &nbsp;&nbsp; 3973 |
| \* <br>| Glaukos Corporation | 102340 | &nbsp;&nbsp; 11018 |
| \* <br>| Globus Medical, Inc. | 180603 | &nbsp;&nbsp; 15561 |
| \* <br>| Halozyme Therapeutics, Inc. | 190700 | &nbsp;&nbsp; 12325 |
| \* <br>| HealthEquity, Inc. | 112240 | &nbsp;&nbsp; 9380 |
| \* <br>| Inspire Medical Systems, Inc. | 122468 | &nbsp;&nbsp; 6317 |
| \* <br>| Krystal Biotech, Inc. | 55790 | &nbsp;&nbsp; 14412 |
| \* <br>| Madrigal Pharmaceuticals, Inc. | 26758 | &nbsp;&nbsp; 14007 |
| \* <br>| Merit Medical Systems, Inc. | 183210 | &nbsp;&nbsp; 12629 |
| \* <br>| Mirum Pharmaceuticals, Inc. | 115733 | &nbsp;&nbsp; 10691 |
| \* <br>| Procept BioRobotics Corp. | 146570 | &nbsp;&nbsp; 3666 |
| \* <br>| Quanterix Corporation | 719776 | &nbsp;&nbsp; 2534 |
| \* <br>| Twist Bioscience Corp. | 449874 | &nbsp;&nbsp; 21378 |
|  | U.S. Physical Therapy, Inc. | 130522 | &nbsp;&nbsp; 9784 |
| \* <br>| Veracyte, Inc. | 342133 | &nbsp;&nbsp; 11020 |
| \* <br>| Vericel Corp. | 410954 | &nbsp;&nbsp; 13220 |
|  |  |  | &nbsp;&nbsp; 214480 |
|  | **Industrials—20.7%** | **Industrials—20.7%** | **Industrials—20.7%** |
| \* <br>| ACV Auctions, Inc. | 992670 | &nbsp;&nbsp; 4209 |
| \* <br>| Amprius Technologies, Inc. | 404390 | &nbsp;&nbsp; 6818 |
|  | Argan, Inc. | 13340 | &nbsp;&nbsp; 7266 |
| \* <br>| Bloom Energy Corporation | 112900 | &nbsp;&nbsp; 15297 |
|  | Brink's Co. | 114634 | &nbsp;&nbsp; 11880 |
|  | BWX Technologies, Inc. | 61894 | &nbsp;&nbsp; 12657 |
| \* <br>| Casella Waste Systems, Inc. | 89189 | &nbsp;&nbsp; 7076 |
|  | ESAB Corporation | 104320 | &nbsp;&nbsp; 10084 |
|  | Flowserve Corp. | 209950 | &nbsp;&nbsp; 15433 |
| \* <br>| Graham Corporation | 108610 | &nbsp;&nbsp; 8572 |
|  | Hammond Power Solutions Inc.<sup>†</sup> | 72755 | &nbsp;&nbsp; 9079 |
|  | Helios Technologies, Inc. | 146240 | &nbsp;&nbsp; 9463 |
|  | Knight-Swift Transportation Holdings Inc. | 130850 | &nbsp;&nbsp; 7534 |
| \* <br>| Mercury Systems, Inc. | 113098 | &nbsp;&nbsp; 8246 |
| \* <br>| Modine Manufacturing Co. | 45560 | &nbsp;&nbsp; 9873 |
| \* <br>| Nextracker Inc. | 125440 | &nbsp;&nbsp; 15122 |
|  | Regal Rexnord Corporation | 84510 | &nbsp;&nbsp; 15825 |
| \* <br>| Sterling Infrastructure, Inc. | 30040 | &nbsp;&nbsp; 12234 |
|  | Tecnoglass, Inc.<sup>†</sup> | 137889 | &nbsp;&nbsp; 6143 |
|  | Terex Corporation | 190020 | &nbsp;&nbsp; 11230 |
| \* <br>| Verra Mobility Corp. | 115882 | &nbsp;&nbsp; 1656 |
|  |  |  | &nbsp;&nbsp; 205697 |
|  | **Information Technology—20.1%** | **Information Technology—20.1%** | **Information Technology—20.1%** |
| \* <br>| Aehr Test Systems | 177373 | &nbsp;&nbsp; 6577 |
| \* <br>| Agilysys, Inc. | 137660 | &nbsp;&nbsp; 9793 |
| \* <br>| AppFolio, Inc. | 66350 | &nbsp;&nbsp; 10471 |
|  | Cognex Corp. | 351240 | &nbsp;&nbsp; 17207 |
| \* <br>| Diebold Nixdorf, Inc. | 323310 | &nbsp;&nbsp; 24390 |
| \* <br>| i3 Verticals, Inc. | 406700 | &nbsp;&nbsp; 9094 |
| \* <br>| Impinj, Inc. | 88790 | &nbsp;&nbsp; 9119 |
| \* <br>| Lattice Semiconductor Corp. | 102340 | &nbsp;&nbsp; 9493 |
|  | Littelfuse, Inc. | 23770 | &nbsp;&nbsp; 8066 |
| \* <br>| Lumentum Holdings Inc. | 9200 | &nbsp;&nbsp; 6465 |
| \* <br>| Novanta, Inc. | 95070 | &nbsp;&nbsp; 11229 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Information Technology—(continued)** | **Information Technology—(continued)** | **Information Technology—(continued)** |
| \* <br>| Onto Innovation, Inc. | 36640 | &nbsp;&nbsp; $7514 |
| \* <br>| OSI Systems, Inc. | 38950 | &nbsp;&nbsp; 10342 |
| \* <br>| PDF Solutions, Inc. | 386599 | &nbsp;&nbsp; 12646 |
| \* <br>| Penguin Solutions, Inc. | 333740 | &nbsp;&nbsp; 5874 |
|  | Power Integrations, Inc. | 195985 | &nbsp;&nbsp; 10034 |
| \* <br>| Q2 Holdings, Inc. | 104184 | &nbsp;&nbsp; 4928 |
| \* <br>| Synaptics Incorporated | 167490 | &nbsp;&nbsp; 11731 |
| \* <br>| Vertex, Inc. | 442020 | &nbsp;&nbsp; 5256 |
| \* <br>| Zeta Global Holdings Corp. | 550960 | &nbsp;&nbsp; 8771 |
|  |  |  | &nbsp;&nbsp; 199000 |
|  | **Financials—10.8%** | **Financials—10.8%** | **Financials—10.8%** |
| \* <br>| Baldwin Insurance Group, Inc. | 536471 | &nbsp;&nbsp; 11770 |
| \* <br>| Donnelley Financial Solutions, Inc. | 188490 | &nbsp;&nbsp; 8885 |
|  | Jefferson Capital, Inc. | 539047 | &nbsp;&nbsp; 10366 |
|  | Marex Group PLC | 385570 | &nbsp;&nbsp; 17189 |
|  | National Bank Holdings Corporation | 362130 | &nbsp;&nbsp; 14181 |
|  | Old National Bancorp | 680690 | &nbsp;&nbsp; 15043 |
|  | OneMain Holdings, Inc. | 93750 | &nbsp;&nbsp; 5014 |
| \* <br>| Paymentus Holdings, Inc. | 185856 | &nbsp;&nbsp; 4721 |
|  | Perella Weinberg Partners | 577795 | &nbsp;&nbsp; 10493 |
|  | StepStone Group Inc. | 191759 | &nbsp;&nbsp; 9151 |
|  |  |  | &nbsp;&nbsp; 106813 |
|  | **Consumer Discretionary—10.1%** | **Consumer Discretionary—10.1%** | **Consumer Discretionary—10.1%** |
|  | BorgWarner Inc. | 165887 | &nbsp;&nbsp; 9001 |
| \* <br>| Champion Homes, Inc. | 167169 | &nbsp;&nbsp; 12432 |
|  | Garrett Motion, Inc. | 878759 | &nbsp;&nbsp; 15967 |
| \* <br>| Grand Canyon Education, Inc. | 89661 | &nbsp;&nbsp; 15245 |
| \* <br>| National Vision Holdings, Inc. | 405706 | &nbsp;&nbsp; 10508 |
| \* <br>| Planet Fitness, Inc. | 112570 | &nbsp;&nbsp; 8373 |
| \* <br>| Revolve Group, Inc. | 362697 | &nbsp;&nbsp; 8201 |
| \* <br>| Rush Street Interactive, Inc. | 736150 | &nbsp;&nbsp; 16011 |
|  | Wingstop Inc. | 30040 | &nbsp;&nbsp; 4655 |
|  |  |  | &nbsp;&nbsp; 100393 |
|  | **Materials—5.2%** | **Materials—5.2%** | **Materials—5.2%** |
|  | Balchem Corp. | 108940 | &nbsp;&nbsp; 18463 |
|  | Hawkins, Inc. | 57110 | &nbsp;&nbsp; 8772 |
|  | Quaker Chemical Corporation | 85297 | &nbsp;&nbsp; 10597 |
|  | U.S. Lime & Minerals, Inc. | 103525 | &nbsp;&nbsp; 13521 |
|  |  |  | &nbsp;&nbsp; 51353 |
|  | **Consumer Staples—3.1%** | **Consumer Staples—3.1%** | **Consumer Staples—3.1%** |
| \* <br>| Freshpet, Inc. | 152180 | &nbsp;&nbsp; 8972 |
|  | Primo Brands Corporation | 817030 | &nbsp;&nbsp; 15385 |
| \* <br>| The Simply Good Foods Company | 462160 | &nbsp;&nbsp; 6632 |
|  |  |  | &nbsp;&nbsp; 30989 |
|  | **Energy—2.5%** | **Energy—2.5%** | **Energy—2.5%** |
| \* <br>| BKV Corporation | 402770 | &nbsp;&nbsp; 11487 |
|  | Weatherford International PLC | 140960 | &nbsp;&nbsp; 13332 |
|  |  |  | &nbsp;&nbsp; 24819 |
|  | **Real Estate—2.0%** | **Real Estate—2.0%** | **Real Estate—2.0%** |
|  | Americold Realty Trust, Inc. | 539080 | &nbsp;&nbsp; 6178 |
|  | FirstService Corp. | 97817 | &nbsp;&nbsp; 13591 |
|  |  |  | &nbsp;&nbsp; 19769 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—96.1%** <br>(cost $895,870)<br>|  | &nbsp;&nbsp; 953313 |

---

See accompanying Notes to Portfolio of Investments.

**13**

------

**Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Exchange-Traded Funds*** | ***Exchange-Traded Funds*** | ***Exchange-Traded Funds*** |
|  | **Exchange-Traded Funds—1.0%** |  |  |
|  | iShares Russell 2000 Growth ETF | 31550 | &nbsp;&nbsp; $9901 |
|  | &nbsp;&nbsp;&nbsp; **Total Exchange-Traded Funds—1.0%** <br>(cost $10,693)<br>|  | &nbsp;&nbsp; 9901 |
|  | ***Other Assets*** |  |  |
|  | **Health Care—0.0%** |  |  |
| \* <br>| &nbsp;&nbsp;&nbsp; OmniAb, Inc. 12.50 Earnout (Acquired <br> 11/02/22, Cost $0)\*\*<sup>,</sup>#<br>| 23037 | &nbsp;&nbsp; — |
| \* <br>| &nbsp;&nbsp;&nbsp; OmniAb, Inc. 15.00 Earnout (Acquired <br> 11/02/22, Cost $0)\*\*<sup>,</sup>#<br>| 23037 | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; **Total Other Assets—0.0%** <br>(cost $—)<br>|  | &nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $36,966, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $37,704<br>| $36965 | &nbsp;&nbsp; 36965 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—3.7%** <br>(cost $36,965)<br>|  | &nbsp;&nbsp; 36965 |
| &nbsp;&nbsp;&nbsp; **Total Investments—100.8%** <br>(cost $943,528)<br>|  | &nbsp;&nbsp; 1000179 |
| **Liabilities, plus cash and** <br>**other assets—(0.8)%**<br>|  | &nbsp;&nbsp; (8182)<br>|
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $991997 |

---

------

ETF Exchange-Traded Fund <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Non-income producing security |
| † | U.S. listed foreign security |
| \*\* | Fair valued pursuant to the Fund's Valuation Procedures. This <br> holding represents 0.00% of the Fund's net assets at March 31, 2026.<br>|
| # | Investment in securities not registered under the Securities Act of <br> 1933 (excluding securities acquired pursuant to Rule 144A and <br> Regulation S). The value of such restricted securities represents <br> 0.00% of the Fund's net assets at March 31, 2026.<br>|

---

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $953313 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $953313 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 36965 | &nbsp;&nbsp; — | &nbsp;&nbsp; 36965 |
| &nbsp;&nbsp;&nbsp; Exchange-Traded Funds | 9901 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9901 |
| &nbsp;&nbsp;&nbsp; Other Assets |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **Total Investments in Securities** | $963214 | &nbsp;&nbsp; $36965 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1000179 |

---

See accompanying Notes to Portfolio of Investments.

**14**

------

**Small Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | **Financials—25.0%** | **Financials—25.0%** | **Financials—25.0%** |
|  | Ameris Bancorp | 138975 | &nbsp;&nbsp; $10839 |
|  | Atlantic Union Bankshares Corporation | 368129 | &nbsp;&nbsp; 13157 |
|  | Banc Of California, Inc. | 593568 | &nbsp;&nbsp; 10435 |
|  | Brightsphere Investment Group, Inc. | 98852 | &nbsp;&nbsp; 5379 |
|  | Cathay General Bancorp | 199812 | &nbsp;&nbsp; 9963 |
|  | Eastern Bankshares, Inc. | 726622 | &nbsp;&nbsp; 14213 |
|  | Enterprise Financial Services Corp. | 8609 | &nbsp;&nbsp; 466 |
|  | Essent Group Ltd. | 165362 | &nbsp;&nbsp; 9664 |
|  | FB Financial Corporation | 270398 | &nbsp;&nbsp; 14044 |
|  | First Bancorp | 147053 | &nbsp;&nbsp; 8286 |
|  | First Merchants Corp. | 295968 | &nbsp;&nbsp; 11463 |
|  | Hancock Whitney Corp. | 212512 | &nbsp;&nbsp; 13514 |
|  | Live Oak Bancshares, Inc. | 271066 | &nbsp;&nbsp; 8964 |
|  | National Bank Holdings Corporation | 364131 | &nbsp;&nbsp; 14259 |
|  | Old National Bancorp | 233664 | &nbsp;&nbsp; 5164 |
|  | Perella Weinberg Partners | 663935 | &nbsp;&nbsp; 12057 |
|  | Renasant Corporation | 367570 | &nbsp;&nbsp; 13280 |
|  | Seacoast Banking Corp. of Florida | 497549 | &nbsp;&nbsp; 15071 |
|  | Selective Insurance Group, Inc. | 137514 | &nbsp;&nbsp; 10367 |
|  | Stellar Bancorp, Inc. | 13053 | &nbsp;&nbsp; 478 |
| \* <br>| Texas Capital Bancshares, Inc. | 115036 | &nbsp;&nbsp; 10915 |
|  | The Hanover Insurance Group, Inc. | 73381 | &nbsp;&nbsp; 12721 |
|  | UMB Financial Corporation | 49327 | &nbsp;&nbsp; 5563 |
|  | WaFd, Inc. | 126625 | &nbsp;&nbsp; 3976 |
|  |  |  | &nbsp;&nbsp; 234238 |
|  | **Industrials—22.7%** | **Industrials—22.7%** | **Industrials—22.7%** |
|  | ABM Industries, Inc. | 181607 | &nbsp;&nbsp; 6996 |
| \* <br>| Alaska Air Group, Inc. | 93371 | &nbsp;&nbsp; 3434 |
|  | Albany International Corp. | 186325 | &nbsp;&nbsp; 9728 |
|  | Atmus Filtration Technologies Inc. | 157361 | &nbsp;&nbsp; 8933 |
|  | Brady Corp. | 95232 | &nbsp;&nbsp; 7737 |
| \* <br>| Centuri Holdings, Inc. | 310247 | &nbsp;&nbsp; 9062 |
|  | Granite Construction, Inc. | 43144 | &nbsp;&nbsp; 5172 |
| \* <br>| Hayward Holdings, Inc. | 372503 | &nbsp;&nbsp; 4984 |
|  | Helios Technologies, Inc. | 188621 | &nbsp;&nbsp; 12206 |
|  | Hub Group, Inc. | 347099 | &nbsp;&nbsp; 12509 |
| \* <br>| Huron Consulting Group, Inc. | 81060 | &nbsp;&nbsp; 10334 |
| \* <br>| Janus International Group, Inc. | 1015263 | &nbsp;&nbsp; 5229 |
| \* <br>| Kirby Corporation | 68581 | &nbsp;&nbsp; 9113 |
|  | Knight-Swift Transportation Holdings Inc. | 130885 | &nbsp;&nbsp; 7536 |
|  | Korn Ferry | 14916 | &nbsp;&nbsp; 939 |
|  | Matson, Inc. | 62008 | &nbsp;&nbsp; 10166 |
|  | Maximus, Inc. | 120374 | &nbsp;&nbsp; 7716 |
|  | McGrath RentCorp | 88336 | &nbsp;&nbsp; 9742 |
| \* <br>| Modine Manufacturing Co. | 40958 | &nbsp;&nbsp; 8876 |
| \* <br>| Openlane, Inc. | 91372 | &nbsp;&nbsp; 2664 |
|  | Rush Enterprises, Inc. | 88538 | &nbsp;&nbsp; 5853 |
| \* <br>| SkyWest, Inc. | 49716 | &nbsp;&nbsp; 4565 |
|  | Tecnoglass, Inc. | 226131 | &nbsp;&nbsp; 10074 |
| \* <br>| Thermon Group Holdings, Inc. | 242659 | &nbsp;&nbsp; 12230 |
| \* <br>| Titan Machinery, Inc. | 276512 | &nbsp;&nbsp; 4623 |
| \* <br>| Trex Company, Inc. | 240622 | &nbsp;&nbsp; 8764 |
|  | TriNet Group, Inc. | 23812 | &nbsp;&nbsp; 868 |
| \* <br>| V2X, Inc. | 182497 | &nbsp;&nbsp; 12501 |
|  |  |  | &nbsp;&nbsp; 212554 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Consumer Discretionary—9.9%** | **Consumer Discretionary—9.9%** | **Consumer Discretionary—9.9%** |
| \* <br>| Laureate Education, Inc. | 309088 | &nbsp;&nbsp; $10768 |
|  | La-Z-Boy, Inc. | 279169 | &nbsp;&nbsp; 8972 |
| \* <br>| M/I Homes, Inc. | 35666 | &nbsp;&nbsp; 4367 |
| \* <br>| Malibu Boats, Inc. | 178206 | &nbsp;&nbsp; 4619 |
|  | Steven Madden Ltd. | 297583 | &nbsp;&nbsp; 10094 |
| \* <br>| Taylor Morrison Home Corp. | 152061 | &nbsp;&nbsp; 8856 |
| \* <br>| Tri Pointe Homes, Inc. | 215259 | &nbsp;&nbsp; 10059 |
| \* <br>| Valvoline Inc. | 355779 | &nbsp;&nbsp; 11983 |
|  | Winnebago Industries, Inc. | 143912 | &nbsp;&nbsp; 4460 |
|  | Wyndham Hotels & Resorts, Inc. | 161919 | &nbsp;&nbsp; 13153 |
| \* <br>| YETI Holdings, Inc. | 137651 | &nbsp;&nbsp; 5037 |
|  |  |  | &nbsp;&nbsp; 92368 |
|  | **Information Technology—9.2%** | **Information Technology—9.2%** | **Information Technology—9.2%** |
| \* <br>| ADTRAN Holdings, Inc. | 744188 | &nbsp;&nbsp; 9362 |
|  | Avnet, Inc. | 206814 | &nbsp;&nbsp; 12744 |
|  | Belden, Inc. | 70690 | &nbsp;&nbsp; 8117 |
| \* <br>| Diodes, Inc. | 163663 | &nbsp;&nbsp; 11172 |
| \* <br>| Knowles Corp. | 477773 | &nbsp;&nbsp; 12269 |
|  | Kulicke & Soffa Industries, Inc. | 149354 | &nbsp;&nbsp; 9815 |
| \* <br>| Sanmina Corp. | 38099 | &nbsp;&nbsp; 4939 |
| \* <br>| Tower Semiconductor Ltd.<sup>†</sup> | 30460 | &nbsp;&nbsp; 5345 |
|  | Vishay Intertechnology, Inc. | 668813 | &nbsp;&nbsp; 12039 |
|  |  |  | &nbsp;&nbsp; 85802 |
|  | **Real Estate—7.7%** | **Real Estate—7.7%** | **Real Estate—7.7%** |
|  | Empire State Realty Trust, Inc. | 1084954 | &nbsp;&nbsp; 5642 |
|  | Four Corners Property Trust, Inc. | 463105 | &nbsp;&nbsp; 10952 |
|  | Kite Realty Group Trust | 493491 | &nbsp;&nbsp; 12115 |
|  | LXP Industrial Trust | 234005 | &nbsp;&nbsp; 10825 |
|  | Netstreit Corp. | 398087 | &nbsp;&nbsp; 7496 |
|  | Sila Realty Trust, Inc. | 520252 | &nbsp;&nbsp; 12320 |
|  | Sunstone Hotel Investors, Inc. | 696175 | &nbsp;&nbsp; 6273 |
|  | UMH Properties, Inc. | 439029 | &nbsp;&nbsp; 6335 |
|  |  |  | &nbsp;&nbsp; 71958 |
|  | **Energy—6.6%** | **Energy—6.6%** | **Energy—6.6%** |
| \* <br>| Expro Group Holdings NV<sup>†</sup> | 819685 | &nbsp;&nbsp; 14271 |
| \* <br>| Gulfport Energy Corp. | 74414 | &nbsp;&nbsp; 15744 |
| \* <br>| Innovex International, Inc. | 220065 | &nbsp;&nbsp; 5367 |
|  | Matador Resources Co. | 231731 | &nbsp;&nbsp; 14641 |
|  | PBF Energy, Inc. | 254821 | &nbsp;&nbsp; 12134 |
|  |  |  | &nbsp;&nbsp; 62157 |
|  | **Health Care—4.9%** | **Health Care—4.9%** | **Health Care—4.9%** |
| \* <br>| ANI Pharmaceuticals, Inc. | 122741 | &nbsp;&nbsp; 9439 |
| \* <br>| Catalyst Pharmaceuticals, Inc. | 179647 | &nbsp;&nbsp; 4448 |
| \* <br>| ICU Medical, Inc. | 80954 | &nbsp;&nbsp; 10455 |
| \* <br>| Innoviva, Inc. | 215354 | &nbsp;&nbsp; 5018 |
| \* <br>| Lantheus Holdings, Inc. | 148699 | &nbsp;&nbsp; 11279 |
| \* <br>| Progyny, Inc. | 277395 | &nbsp;&nbsp; 4710 |
|  |  |  | &nbsp;&nbsp; 45349 |
|  | **Materials—4.2%** | **Materials—4.2%** | **Materials—4.2%** |
|  | Commercial Metals Co. | 74314 | &nbsp;&nbsp; 4565 |
|  | Eagle Materials Inc. | 50535 | &nbsp;&nbsp; 9574 |
| \* <br>| Ecovyst, Inc. | 698736 | &nbsp;&nbsp; 8986 |
|  | Greif, Inc. | 34688 | &nbsp;&nbsp; 2326 |
| \* <br>| IAMGOLD Corporation<sup>†</sup> | 339688 | &nbsp;&nbsp; 6393 |

---

See accompanying Notes to Portfolio of Investments.

**15**

------

**Small Cap Value Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | **Materials—(continued)** | **Materials—(continued)** | **Materials—(continued)** |
|  | Silgan Holdings, Inc. | 109166 | &nbsp;&nbsp; $4236 |
| \* <br>| Taseko Mines Limited | 560969 | &nbsp;&nbsp; 3618 |
|  |  |  | &nbsp;&nbsp; 39698 |
|  | **Utilities—3.7%** | **Utilities—3.7%** | **Utilities—3.7%** |
|  | Northwest Natural Holding Company | 222883 | &nbsp;&nbsp; 11862 |
|  | Northwestern Energy Group, Inc. | 159893 | &nbsp;&nbsp; 10543 |
|  | Spire, Inc. | 131286 | &nbsp;&nbsp; 11887 |
|  |  |  | &nbsp;&nbsp; 34292 |
|  | **Communication Services—2.2%** | **Communication Services—2.2%** | **Communication Services—2.2%** |
| \* <br>| CarGurus, Inc. | 268910 | &nbsp;&nbsp; 9157 |
|  | John Wiley & Sons, Inc. | 306150 | &nbsp;&nbsp; 11664 |
|  |  |  | &nbsp;&nbsp; 20821 |
|  | **Consumer Staples—1.1%** | **Consumer Staples—1.1%** | **Consumer Staples—1.1%** |
| \* <br>| Central Garden & Pet Co. | 140557 | &nbsp;&nbsp; 4557 |
|  | Edgewell Personal Care Co. | 257422 | &nbsp;&nbsp; 5493 |
|  |  |  | &nbsp;&nbsp; 10050 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.2%** <br>(cost $800,402)<br>|  | &nbsp;&nbsp; 909287 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $25,181, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $25,684<br>| $25180 | &nbsp;&nbsp; 25180 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—2.7%** <br>(cost $25,180)<br>|  | &nbsp;&nbsp; 25180 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.9%** <br>(cost $825,582)<br>|  | &nbsp;&nbsp; 934467 |
| **Cash and other assets,** <br>**less liabilities—0.1%**<br>|  | &nbsp;&nbsp; 1077 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $935544 |

---

------

\* Non-income producing security <br> † U.S. listed foreign security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $909287 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $909287 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 25180 | &nbsp;&nbsp; — | &nbsp;&nbsp; 25180 |
| **Total Investments in Securities** | $909287 | &nbsp;&nbsp; $25180 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $934467 |

---

See accompanying Notes to Portfolio of Investments.

**16**

------

**Global Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Western Hemisphere—53.8%*** |  |  |
|  | **Canada—1.0%** | **Canada—1.0%** | **Canada—1.0%** |
|  | &nbsp;&nbsp;&nbsp; Agnico Eagle Mines Limited/Mines Agnico <br> Eagle Limitee <br>(Metals & Mining)<br>| 375 | &nbsp;&nbsp; $76 |
|  | &nbsp;&nbsp;&nbsp; Lundin Gold Inc. <br>(Metals & Mining)<br>| 778 | &nbsp;&nbsp; 60 |
|  |  |  | &nbsp;&nbsp; 136 |
|  | **United States—52.8%** | **United States—52.8%** | **United States—52.8%** |
|  | &nbsp;&nbsp;&nbsp; Alphabet Inc.—Class A <br>(Interactive Media & Services)<br>| 2055 | &nbsp;&nbsp; 591 |
| \* <br>| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. <br>(Broadline Retail)<br>| 2390 | &nbsp;&nbsp; 498 |
|  | &nbsp;&nbsp;&nbsp; Apple, Inc. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 1464 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp; Applied Materials, Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 1015 | &nbsp;&nbsp; 347 |
|  | &nbsp;&nbsp;&nbsp; Broadcom, Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 639 | &nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp; Cencora, Inc. <br>(Health Care Providers & Services)<br>| 771 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp; CRH Public Limited Company <br>(Construction Materials)<br>| 1186 | &nbsp;&nbsp; 125 |
| \* <br>| &nbsp;&nbsp;&nbsp; DexCom, Inc. <br>(Health Care Equipment & Supplies)<br>| 3558 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp; Eli Lilly and Company <br>(Pharmaceuticals)<br>| 429 | &nbsp;&nbsp; 395 |
| \* <br>| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc. <br>(Consumer Finance)<br>| 3423 | &nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp; Graco Inc. <br>(Machinery)<br>| 2091 | &nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp; Intuit Inc. <br>(Software)<br>| 177 | &nbsp;&nbsp; 76 |
| \* <br>| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. <br>(Health Care Equipment & Supplies)<br>| 430 | &nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. <br>(Banks)<br>| 668 | &nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp; Mastercard Incorporated <br>(Financial Services)<br>| 771 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. <br>(Interactive Media & Services)<br>| 681 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp; Microsoft Corporation <br>(Software)<br>| 1335 | &nbsp;&nbsp; 494 |
| \* <br>| &nbsp;&nbsp;&nbsp; Netflix, Inc. <br>(Entertainment)<br>| 1734 | &nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp; NVIDIA Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 5025 | &nbsp;&nbsp; 876 |
| \* <br>| &nbsp;&nbsp;&nbsp; ServiceNow, Inc. <br>(Software)<br>| 1073 | &nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp; The Progressive Corporation <br>(Insurance)<br>| 872 | &nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. <br>(Entertainment)<br>| 737 | &nbsp;&nbsp; 149 |
| \* <br>| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br>(Road & Rail)<br>| 933 | &nbsp;&nbsp; 67 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Western Hemisphere—(continued)*** |  |  |
|  | **United States—(continued)** | **United States—(continued)** | **United States—(continued)** |
|  | &nbsp;&nbsp;&nbsp; UnitedHealth Group Incorporated <br>(Health Care Providers & Services)<br>| 379 | &nbsp;&nbsp; $103 |
| \* <br>| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals Incorporated <br>(Biotechnology)<br>| 657 | &nbsp;&nbsp; 293 |
|  |  |  | &nbsp;&nbsp; 6963 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 7099 |
|  | ***Europe Ex-U.K.—15.9%*** |  |  |
|  | **France—6.0%** | **France—6.0%** | **France—6.0%** |
|  | &nbsp;&nbsp;&nbsp; Hermes International <br>(Textiles, Apparel & Luxury Goods)<br>| 87 | &nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp; Schneider Electric SE <br>(Electrical Equipment)<br>| 488 | &nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp; TotalEnergies SE <br>(Oil, Gas & Consumable Fuels)<br>| 5321 | &nbsp;&nbsp; 488 |
|  |  |  | &nbsp;&nbsp; 786 |
|  | **Germany—1.0%** | **Germany—1.0%** | **Germany—1.0%** |
|  | &nbsp;&nbsp;&nbsp; Rheinmetall AG <br>(Aerospace & Defense)<br>| 75 | &nbsp;&nbsp; 126 |
|  | **Ireland—1.3%** | **Ireland—1.3%** | **Ireland—1.3%** |
|  | &nbsp;&nbsp;&nbsp; Linde Public Limited Company<sup>†</sup> <br>(Chemicals)<br>| 334 | &nbsp;&nbsp; 166 |
|  | **Netherlands—2.3%** | **Netherlands—2.3%** | **Netherlands—2.3%** |
| \* <br>| &nbsp;&nbsp;&nbsp; argenx SE—ADR <br>(Biotechnology)<br>| 424 | &nbsp;&nbsp; 310 |
|  | **Spain—3.4%** | **Spain—3.4%** | **Spain—3.4%** |
|  | &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A. <br>(Banks)<br>| 11277 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp; Iberdrola, S.A. <br>(Electric Utilities)<br>| 9067 | &nbsp;&nbsp; 208 |
|  |  |  | &nbsp;&nbsp; 451 |
|  | **Switzerland—1.9%** | **Switzerland—1.9%** | **Switzerland—1.9%** |
|  | &nbsp;&nbsp;&nbsp; Galderma Group AG <br>(Pharmaceuticals)<br>| 1286 | &nbsp;&nbsp; 253 |
|  | **Total Europe Ex-U.K.** |  | &nbsp;&nbsp; 2092 |
|  | ***Emerging Asia—10.0%*** |  |  |
|  | **China—3.0%** | **China—3.0%** | **China—3.0%** |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 6300 | &nbsp;&nbsp; 397 |
|  | **South Korea—2.3%** | **South Korea—2.3%** | **South Korea—2.3%** |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 547 | &nbsp;&nbsp; 310 |
|  | **Taiwan—4.7%** | **Taiwan—4.7%** | **Taiwan—4.7%** |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 1815 | &nbsp;&nbsp; 614 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 1321 |
|  | ***United Kingdom—8.2%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; 3i Group PLC <br>(Capital Markets)<br>| 2704 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp; AstraZeneca PLC <br>(Pharmaceuticals)<br>| 866 | &nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp; BAE Systems PLC <br>(Aerospace & Defense)<br>| 4875 | &nbsp;&nbsp; 143 |

---

See accompanying Notes to Portfolio of Investments.

**17**

------

**Global Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***United Kingdom—(continued)*** |  |  |
|  | &nbsp;&nbsp;&nbsp; British American Tobacco P.L.C. <br>(Tobacco)<br>| 5187 | &nbsp;&nbsp; $301 |
|  | &nbsp;&nbsp;&nbsp; Halma Public Limited Company <br>(Electronic Equipment, Instruments & <br> Components)<br>| 1468 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC <br>(Banks)<br>| 131224 | &nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC <br>(Capital Markets)<br>| 1232 | &nbsp;&nbsp; 145 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 1084 |
|  | ***Japan—7.5%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Fujikura Ltd. <br>(Electrical Equipment)<br>| 4200 | &nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp; Hitachi, Ltd. <br>(Industrial Conglomerates)<br>| 9400 | &nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp; Ibiden Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 6500 | &nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp; IHI Corporation <br>(Machinery)<br>| 7700 | &nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. <br>(Banks)<br>| 3600 | &nbsp;&nbsp; 118 |
|  | **Total Japan** |  | &nbsp;&nbsp; 994 |
|  | ***Emerging Latin America—2.2%*** |  |  |
|  | **Brazil—2.2%** | **Brazil—2.2%** | **Brazil—2.2%** |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 5500 | &nbsp;&nbsp; 82 |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd. <br>(Banks)<br>| 14070 | &nbsp;&nbsp; 202 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.6%** <br>(cost $12,003)<br>|  | &nbsp;&nbsp; 12874 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $226, collateralized by U.S. Treasury <br> Note, 3.875%, due 03/31/2028, valued at <br> $231<br>| &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—1.7%** <br>(cost $226)<br>| &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.3%** <br>(cost $12,229)<br>| &nbsp;&nbsp; 13100 |
| **Cash and other assets,** <br>**less liabilities—0.7%**<br>| &nbsp;&nbsp; 95 |
| **Net Assets—100.0%** | &nbsp;&nbsp; $13195 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

See accompanying Notes to Portfolio of Investments.

**18**

------

**Global Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $8473 | &nbsp;&nbsp; $4401 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12874 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 226 | &nbsp;&nbsp; — | &nbsp;&nbsp; 226 |
| **Total Investments in Securities** | $8473 | &nbsp;&nbsp; $4627 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13100 |

---

See accompanying Notes to Portfolio of Investments.

**19**

------

**International Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Europe Ex-U.K.—32.1%*** |  |  |
|  | **Belgium—1.8%** | **Belgium—1.8%** | **Belgium—1.8%** |
|  | &nbsp;&nbsp;&nbsp; UCB SA <br>(Pharmaceuticals)<br>| 63581 | &nbsp;&nbsp; $19157 |
|  | **France—5.5%** | **France—5.5%** | **France—5.5%** |
|  | &nbsp;&nbsp;&nbsp; BNP Paribas <br>(Banks)<br>| 136991 | &nbsp;&nbsp; 13050 |
|  | &nbsp;&nbsp;&nbsp; EssilorLuxottica <br>(Health Care Equipment & Supplies)<br>| 61920 | &nbsp;&nbsp; 14429 |
|  | &nbsp;&nbsp;&nbsp; Safran SA <br>(Aerospace & Defense)<br>| 59272 | &nbsp;&nbsp; 19395 |
|  | &nbsp;&nbsp;&nbsp; Vinci SA <br>(Construction & Engineering)<br>| 77267 | &nbsp;&nbsp; 11598 |
|  |  |  | &nbsp;&nbsp; 58472 |
|  | **Germany—1.3%** | **Germany—1.3%** | **Germany—1.3%** |
|  | &nbsp;&nbsp;&nbsp; Rheinmetall AG <br>(Aerospace & Defense)<br>| 7946 | &nbsp;&nbsp; 13403 |
|  | **Italy—6.8%** | **Italy—6.8%** | **Italy—6.8%** |
|  | &nbsp;&nbsp;&nbsp; Enel SpA <br>(Electric Utilities)<br>| 2176541 | &nbsp;&nbsp; 23796 |
|  | &nbsp;&nbsp;&nbsp; Ferrari NV<sup>†</sup> <br>(Automobiles)<br>| 25838 | &nbsp;&nbsp; 8745 |
|  | &nbsp;&nbsp;&nbsp; Prysmian S.p.A. <br>(Electrical Equipment)<br>| 215547 | &nbsp;&nbsp; 25454 |
|  | &nbsp;&nbsp;&nbsp; UniCredit S.p.A. <br>(Banks)<br>| 207540 | &nbsp;&nbsp; 14890 |
|  |  |  | &nbsp;&nbsp; 72885 |
|  | **Netherlands—4.3%** | **Netherlands—4.3%** | **Netherlands—4.3%** |
| \* <br>| &nbsp;&nbsp;&nbsp; argenx SE—ADR <br>(Biotechnology)<br>| 23838 | &nbsp;&nbsp; 17408 |
|  | &nbsp;&nbsp;&nbsp; ASML Holding NV <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 21756 | &nbsp;&nbsp; 28930 |
|  |  |  | &nbsp;&nbsp; 46338 |
|  | **Spain—4.5%** | **Spain—4.5%** | **Spain—4.5%** |
|  | &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A. <br>(Banks)<br>| 976621 | &nbsp;&nbsp; 21095 |
|  | &nbsp;&nbsp;&nbsp; Iberdrola, S.A. <br>(Electric Utilities)<br>| 1166866 | &nbsp;&nbsp; 26714 |
|  |  |  | &nbsp;&nbsp; 47809 |
|  | **Sweden—0.7%** | **Sweden—0.7%** | **Sweden—0.7%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Spotify Technology S.A. <br>(Entertainment)<br>| 15199 | &nbsp;&nbsp; 7370 |
|  | **Switzerland—7.2%** | **Switzerland—7.2%** | **Switzerland—7.2%** |
|  | &nbsp;&nbsp;&nbsp; ABB Ltd. <br>(Electrical Equipment)<br>| 242737 | &nbsp;&nbsp; 19736 |
|  | &nbsp;&nbsp;&nbsp; Galderma Group AG <br>(Pharmaceuticals)<br>| 92905 | &nbsp;&nbsp; 18259 |
|  | &nbsp;&nbsp;&nbsp; Lonza Group AG <br>(Life Sciences Tools & Services)<br>| 19676 | &nbsp;&nbsp; 12623 |
|  | &nbsp;&nbsp;&nbsp; Sandoz Group AG <br>(Pharmaceuticals)<br>| 332127 | &nbsp;&nbsp; 26022 |
|  |  |  | &nbsp;&nbsp; 76640 |
|  | **Total Europe Ex-U.K.** |  | &nbsp;&nbsp; 342074 |
|  | ***Emerging Asia—26.2%*** |  |  |
|  | **China—2.6%** | **China—2.6%** | **China—2.6%** |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 438300 | &nbsp;&nbsp; 27645 |

---

---

| | | |
|:---|:---|:---|
| <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
| ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
| ***Emerging Asia—(continued)*** |  |  |
| **India—4.1%** | **India—4.1%** | **India—4.1%** |
| &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 3562179 | &nbsp;&nbsp; $15280 |
| &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication <br> Services)<br>| 1035907 | &nbsp;&nbsp; 19761 |
| &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. <br>(Banks)<br>| 685688 | &nbsp;&nbsp; 8845 |
|  |  | &nbsp;&nbsp; 43886 |
| **South Korea—9.3%** | **South Korea—9.3%** | **South Korea—9.3%** |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 430634 | &nbsp;&nbsp; 50368 |
| &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 86187 | &nbsp;&nbsp; 48899 |
|  |  | &nbsp;&nbsp; 99267 |
| **Taiwan—10.2%** | **Taiwan—10.2%** | **Taiwan—10.2%** |
| &nbsp;&nbsp;&nbsp; Accton Technology Corp. <br>(Communications Equipment)<br>| 504000 | &nbsp;&nbsp; 24866 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 4621000 | &nbsp;&nbsp; 28247 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 947000 | &nbsp;&nbsp; 54769 |
|  |  | &nbsp;&nbsp; 107882 |
| **Total Emerging Asia** |  | &nbsp;&nbsp; 278680 |
| ***Japan—13.4%*** |  |  |
| &nbsp;&nbsp;&nbsp; ASICS Corporation <br>(Textiles, Apparel & Luxury Goods)<br>| 604500 | &nbsp;&nbsp; 16252 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. <br>(Pharmaceuticals)<br>| 88200 | &nbsp;&nbsp; 4864 |
| &nbsp;&nbsp;&nbsp; Fujikura Ltd. <br>(Electrical Equipment)<br>| 1155000 | &nbsp;&nbsp; 31765 |
| &nbsp;&nbsp;&nbsp; Hitachi, Ltd. <br>(Industrial Conglomerates)<br>| 773500 | &nbsp;&nbsp; 22691 |
| &nbsp;&nbsp;&nbsp; IHI Corporation <br>(Machinery)<br>| 1278300 | &nbsp;&nbsp; 26375 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries, Ltd. <br>(Auto Components)<br>| 236600 | &nbsp;&nbsp; 13444 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. <br>(Banks)<br>| 844200 | &nbsp;&nbsp; 27757 |
| **Total Japan** |  | &nbsp;&nbsp; 143148 |
| ***United Kingdom—12.3%*** |  |  |
| &nbsp;&nbsp;&nbsp; 3i Group PLC <br>(Capital Markets)<br>| 205796 | &nbsp;&nbsp; 6707 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC <br>(Pharmaceuticals)<br>| 153389 | &nbsp;&nbsp; 29994 |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC <br>(Aerospace & Defense)<br>| 734317 | &nbsp;&nbsp; 21529 |
| &nbsp;&nbsp;&nbsp; Barclays PLC <br>(Banks)<br>| 3126539 | &nbsp;&nbsp; 16363 |
| &nbsp;&nbsp;&nbsp; Diploma PLC <br>(Trading Companies & Distributors)<br>| 106127 | &nbsp;&nbsp; 8474 |

---

See accompanying Notes to Portfolio of Investments.

**20**

------

**International Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***United Kingdom—(continued)*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Halma Public Limited Company <br>(Electronic Equipment, Instruments & <br> Components)<br>| 348502 | &nbsp;&nbsp; $17784 |
|  | &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC <br>(Capital Markets)<br>| 103398 | &nbsp;&nbsp; 12210 |
|  | &nbsp;&nbsp;&nbsp; SSE PLC <br>(Electric Utilities)<br>| 505150 | &nbsp;&nbsp; 17462 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 130523 |
|  | ***Asia Ex-Japan—5.7%*** |  |  |
|  | **Hong Kong—3.7%** | **Hong Kong—3.7%** | **Hong Kong—3.7%** |
|  | &nbsp;&nbsp;&nbsp; AIA Group Ltd. <br>(Insurance)<br>| 2087000 | &nbsp;&nbsp; 23189 |
|  | &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. <br>(Capital Markets)<br>| 318900 | &nbsp;&nbsp; 16088 |
|  |  |  | &nbsp;&nbsp; 39277 |
|  | **Singapore—2.0%** | **Singapore—2.0%** | **Singapore—2.0%** |
|  | &nbsp;&nbsp;&nbsp; Singapore Telecommunications Limited <br>(Diversified Telecommunication <br> Services)<br>| 5563300 | &nbsp;&nbsp; 21421 |
|  | **Total Asia Ex-Japan** |  | &nbsp;&nbsp; 60698 |
|  | ***Emerging Latin America—5.4%*** |  |  |
|  | **Brazil—2.6%** | **Brazil—2.6%** | **Brazil—2.6%** |
| \* <br>| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. <br>(Broadline Retail)<br>| 7406 | &nbsp;&nbsp; 12805 |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd. <br>(Banks)<br>| 1054238 | &nbsp;&nbsp; 15149 |
|  |  |  | &nbsp;&nbsp; 27954 |
|  | **Chile—1.6%** | **Chile—1.6%** | **Chile—1.6%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 371188 | &nbsp;&nbsp; 16646 |
|  | **Peru—1.2%** | **Peru—1.2%** | **Peru—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Credicorp Ltd. <br>(Banks)<br>| 39618 | &nbsp;&nbsp; 13438 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 58038 |
|  | ***Western Hemisphere—3.2%*** |  |  |
|  | **Canada—3.2%** | **Canada—3.2%** | **Canada—3.2%** |
|  | &nbsp;&nbsp;&nbsp; Dollarama, Inc. <br>(Broadline Retail)<br>| 128533 | &nbsp;&nbsp; 15775 |
|  | &nbsp;&nbsp;&nbsp; Lundin Gold Inc. <br>(Metals & Mining)<br>| 241797 | &nbsp;&nbsp; 18479 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 34254 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—1.2%*** |  |  |
|  | **United Arab Emirates—1.2%** | **United Arab Emirates—1.2%** | **United Arab Emirates—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Emaar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 3755100 | &nbsp;&nbsp; 12288 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.5%** <br>(cost $815,269)<br>|  | &nbsp;&nbsp; 1059703 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $4,708, collateralized <br> by U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $4,802<br>| $4708 | &nbsp;&nbsp; $4708 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.4%** <br>(cost $4,708)<br>|  | &nbsp;&nbsp; 4708 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.9%** <br>(cost $819,977)<br>|  | &nbsp;&nbsp; 1064411 |
| **Cash and other assets,** <br>**less liabilities—0.1%**<br>|  | &nbsp;&nbsp; 740 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $1065151 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† U.S. listed foreign security <br> \* Non-income producing security

See accompanying Notes to Portfolio of Investments.

**21**

------

**International Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $109169 | &nbsp;&nbsp; $950534 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1059703 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 4708 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4708 |
| **Total Investments in Securities** | $109169 | &nbsp;&nbsp; $955242 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1064411 |

---

See accompanying Notes to Portfolio of Investments.

**22**

------

**International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Europe Ex-U.K.—35.1%*** |  |  |
|  | **Austria—1.3%** | **Austria—1.3%** | **Austria—1.3%** |
|  | &nbsp;&nbsp;&nbsp; BAWAG Group AG <br>(Banks)<br>| 32150 | &nbsp;&nbsp; $4888 |
|  | &nbsp;&nbsp;&nbsp; Erste Group Bank AG <br>(Banks)<br>| 59308 | &nbsp;&nbsp; 6407 |
|  | &nbsp;&nbsp;&nbsp; voestalpine AG <br>(Metals & Mining)<br>| 42146 | &nbsp;&nbsp; 1870 |
|  |  |  | &nbsp;&nbsp; 13165 |
|  | **Belgium—1.3%** | **Belgium—1.3%** | **Belgium—1.3%** |
|  | &nbsp;&nbsp;&nbsp; D'ieteren Group <br>(Distributors)<br>| 10419 | &nbsp;&nbsp; 1929 |
|  | &nbsp;&nbsp;&nbsp; UCB SA <br>(Pharmaceuticals)<br>| 27337 | &nbsp;&nbsp; 8237 |
|  | &nbsp;&nbsp;&nbsp; Warehouses De Pauw NV/SA <br>(Industrial REITs)<br>| 95283 | &nbsp;&nbsp; 2482 |
|  |  |  | &nbsp;&nbsp; 12648 |
|  | **Denmark—1.1%** | **Denmark—1.1%** | **Denmark—1.1%** |
|  | &nbsp;&nbsp;&nbsp; DSV AS <br>(Air Freight & Logistics)<br>| 36781 | &nbsp;&nbsp; 8883 |
|  | &nbsp;&nbsp;&nbsp; FLSmidth & Co. A/S <br>(Machinery)<br>| 25862 | &nbsp;&nbsp; 1959 |
|  |  |  | &nbsp;&nbsp; 10842 |
|  | **Finland—0.5%** | **Finland—0.5%** | **Finland—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Metso OYJ <br>(Machinery)<br>| 263358 | &nbsp;&nbsp; 4564 |
|  | **France—4.9%** | **France—4.9%** | **France—4.9%** |
|  | &nbsp;&nbsp;&nbsp; Airbus SE <br>(Aerospace & Defense)<br>| 32052 | &nbsp;&nbsp; 6060 |
| \* <br>| &nbsp;&nbsp;&nbsp; Constellium SE <br>(Metals & Mining)<br>| 80473 | &nbsp;&nbsp; 1978 |
|  | &nbsp;&nbsp;&nbsp; Dassault Aviation <br>(Aerospace & Defense)<br>| 6723 | &nbsp;&nbsp; 2502 |
|  | &nbsp;&nbsp;&nbsp; Hermes International <br>(Textiles, Apparel & Luxury Goods)<br>| 3077 | &nbsp;&nbsp; 5829 |
|  | &nbsp;&nbsp;&nbsp; Legrand <br>(Electrical Equipment)<br>| 45713 | &nbsp;&nbsp; 7102 |
|  | &nbsp;&nbsp;&nbsp; Orange <br>(Diversified Telecommunication <br> Services)<br>| 259278 | &nbsp;&nbsp; 5316 |
|  | &nbsp;&nbsp;&nbsp; Safran SA <br>(Aerospace & Defense)<br>| 23134 | &nbsp;&nbsp; 7570 |
|  | &nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech S.A. <br>(Life Sciences Tools & Services)<br>| 24820 | &nbsp;&nbsp; 4834 |
|  | &nbsp;&nbsp;&nbsp; TotalEnergies SE <br>(Oil, Gas & Consumable Fuels)<br>| 86073 | &nbsp;&nbsp; 7899 |
|  |  |  | &nbsp;&nbsp; 49090 |
|  | **Germany—3.8%** | **Germany—3.8%** | **Germany—3.8%** |
|  | &nbsp;&nbsp;&nbsp; AIXTRON SE <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 56137 | &nbsp;&nbsp; 2191 |
|  | &nbsp;&nbsp;&nbsp; Allianz SE <br>(Insurance)<br>| 17826 | &nbsp;&nbsp; 7528 |
|  | &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA <br>(Entertainment)<br>| 25366 | &nbsp;&nbsp; 1486 |
|  | &nbsp;&nbsp;&nbsp; Deutsche Boerse Aktiengesellschaft <br>(Capital Markets)<br>| 31863 | &nbsp;&nbsp; 9334 |
|  | &nbsp;&nbsp;&nbsp; flatexDEGIRO AG <br>(Capital Markets)<br>| 57179 | &nbsp;&nbsp; 1972 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Europe Ex-U.K.—(continued)*** |  |  |
|  | **Germany—(continued)** | **Germany—(continued)** | **Germany—(continued)** |
|  | &nbsp;&nbsp;&nbsp; MTU Aero Engines AG <br>(Aerospace & Defense)<br>| 20480 | &nbsp;&nbsp; $7471 |
|  | &nbsp;&nbsp;&nbsp; Siemens Energy AG <br>(Electrical Equipment)<br>| 50417 | &nbsp;&nbsp; 8694 |
|  |  |  | &nbsp;&nbsp; 38676 |
|  | **Ireland—2.1%** | **Ireland—2.1%** | **Ireland—2.1%** |
|  | &nbsp;&nbsp;&nbsp; AIB Group PLC <br>(Banks)<br>| 558601 | &nbsp;&nbsp; 5963 |
|  | &nbsp;&nbsp;&nbsp; Kingspan Group PLC <br>(Building Products)<br>| 61735 | &nbsp;&nbsp; 5279 |
|  | &nbsp;&nbsp;&nbsp; Linde Public Limited Company<sup>†</sup> <br>(Chemicals)<br>| 15211 | &nbsp;&nbsp; 7541 |
|  | &nbsp;&nbsp;&nbsp; Ryanair Holdings Public Limited <br> Company—ADR <br>(Airlines)<br>| 43140 | &nbsp;&nbsp; 2494 |
|  |  |  | &nbsp;&nbsp; 21277 |
|  | **Israel—0.5%** | **Israel—0.5%** | **Israel—0.5%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries <br> Limited—ADR <br>(Pharmaceuticals)<br>| 172247 | &nbsp;&nbsp; 5188 |
|  | **Italy—4.2%** | **Italy—4.2%** | **Italy—4.2%** |
|  | &nbsp;&nbsp;&nbsp; Azimut Holding SpA <br>(Capital Markets)<br>| 76470 | &nbsp;&nbsp; 2906 |
|  | &nbsp;&nbsp;&nbsp; Brunello Cucinelli SpA <br>(Textiles, Apparel & Luxury Goods)<br>| 17509 | &nbsp;&nbsp; 1530 |
|  | &nbsp;&nbsp;&nbsp; Enel SpA <br>(Electric Utilities)<br>| 507996 | &nbsp;&nbsp; 5554 |
|  | &nbsp;&nbsp;&nbsp; Intesa Sanpaolo S.p.A <br>(Banks)<br>| 1042292 | &nbsp;&nbsp; 6304 |
|  | &nbsp;&nbsp;&nbsp; Italgas S.p.A. <br>(Gas Utilities)<br>| 445196 | &nbsp;&nbsp; 5186 |
|  | &nbsp;&nbsp;&nbsp; Lottomatica Group S.p.A. <br>(Hotels, Restaurants & Leisure)<br>| 89181 | &nbsp;&nbsp; 2575 |
|  | &nbsp;&nbsp;&nbsp; Saipem S.p.A. <br>(Energy Equipment & Services)<br>| 1125636 | &nbsp;&nbsp; 5150 |
| \* <br>| &nbsp;&nbsp;&nbsp; Telecom Italia SpA <br>(Diversified Telecommunication <br> Services)<br>| 5815517 | &nbsp;&nbsp; 4083 |
| \* <br>| &nbsp;&nbsp;&nbsp; Telecom Italia SpA <br>(Diversified Telecommunication <br> Services)<br>| 5947733 | &nbsp;&nbsp; 0 |
|  | &nbsp;&nbsp;&nbsp; UniCredit S.p.A. <br>(Banks)<br>| 125269 | &nbsp;&nbsp; 8987 |
|  |  |  | &nbsp;&nbsp; 42275 |
|  | **Luxembourg—0.9%** | **Luxembourg—0.9%** | **Luxembourg—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Millicom International Cellular S.A. <br>(Wireless Telecommunication <br> Services)<br>| 49450 | &nbsp;&nbsp; 3706 |
|  | &nbsp;&nbsp;&nbsp; Tenaris S.A. <br>(Energy Equipment & Services)<br>| 186174 | &nbsp;&nbsp; 5442 |
|  |  |  | &nbsp;&nbsp; 9148 |
|  | **Netherlands—5.2%** | **Netherlands—5.2%** | **Netherlands—5.2%** |
| \* <br>| &nbsp;&nbsp;&nbsp; argenx SE—ADR <br>(Biotechnology)<br>| 9674 | &nbsp;&nbsp; 7064 |
|  | &nbsp;&nbsp;&nbsp; ASM International N.V. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 12842 | &nbsp;&nbsp; 9734 |

---

See accompanying Notes to Portfolio of Investments.

**23**

------

**International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Europe Ex-U.K.—(continued)*** |  |  |
|  | **Netherlands—(continued)** | **Netherlands—(continued)** | **Netherlands—(continued)** |
|  | &nbsp;&nbsp;&nbsp; ASML Holding NV <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 21266 | &nbsp;&nbsp; $28279 |
|  | &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 35304 | &nbsp;&nbsp; 7562 |
|  |  |  | &nbsp;&nbsp; 52639 |
|  | **Norway—0.2%** | **Norway—0.2%** | **Norway—0.2%** |
|  | &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA <br>(Insurance)<br>| 57820 | &nbsp;&nbsp; 1512 |
|  | **Spain—2.5%** | **Spain—2.5%** | **Spain—2.5%** |
|  | &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A. <br>(Banks)<br>| 498047 | &nbsp;&nbsp; 10758 |
|  | &nbsp;&nbsp;&nbsp; Bankinter SA <br>(Banks)<br>| 137111 | &nbsp;&nbsp; 2171 |
|  | &nbsp;&nbsp;&nbsp; Iberdrola, S.A. <br>(Electric Utilities)<br>| 542681 | &nbsp;&nbsp; 12424 |
|  |  |  | &nbsp;&nbsp; 25353 |
|  | **Sweden—1.4%** | **Sweden—1.4%** | **Sweden—1.4%** |
|  | &nbsp;&nbsp;&nbsp; Atlas Copco AB <br>(Machinery)<br>| 412985 | &nbsp;&nbsp; 7288 |
|  | &nbsp;&nbsp;&nbsp; Beijer Ref AB <br>(Trading Companies & Distributors)<br>| 148135 | &nbsp;&nbsp; 2054 |
| \* <br>| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB <br>(Biotechnology)<br>| 124443 | &nbsp;&nbsp; 5215 |
|  |  |  | &nbsp;&nbsp; 14557 |
|  | **Switzerland—5.2%** | **Switzerland—5.2%** | **Switzerland—5.2%** |
|  | &nbsp;&nbsp;&nbsp; Galderma Group AG <br>(Pharmaceuticals)<br>| 55055 | &nbsp;&nbsp; 10820 |
|  | &nbsp;&nbsp;&nbsp; Galenica AG <br>(Health Care Providers & Services)<br>| 25999 | &nbsp;&nbsp; 2960 |
|  | &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. <br>(Auto Components)<br>| 189514 | &nbsp;&nbsp; 3443 |
|  | &nbsp;&nbsp;&nbsp; Lonza Group AG <br>(Life Sciences Tools & Services)<br>| 11634 | &nbsp;&nbsp; 7463 |
|  | &nbsp;&nbsp;&nbsp; Novartis AG <br>(Pharmaceuticals)<br>| 49506 | &nbsp;&nbsp; 7599 |
|  | &nbsp;&nbsp;&nbsp; Roche Holding AG <br>(Pharmaceuticals)<br>| 12465 | &nbsp;&nbsp; 4975 |
|  | &nbsp;&nbsp;&nbsp; Sandoz Group AG <br>(Pharmaceuticals)<br>| 137695 | &nbsp;&nbsp; 10789 |
|  | &nbsp;&nbsp;&nbsp; VAT Group AG <br>(Machinery)<br>| 7490 | &nbsp;&nbsp; 4673 |
|  |  |  | &nbsp;&nbsp; 52722 |
|  | **Total Europe Ex-U.K.** |  | &nbsp;&nbsp; 353656 |
|  | ***Emerging Asia—20.6%*** |  |  |
|  | **China—2.7%** | **China—2.7%** | **China—2.7%** |
|  | &nbsp;&nbsp;&nbsp; Airtac International Group <br>(Machinery)<br>| 56713 | &nbsp;&nbsp; 1806 |
|  | &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd. <br>(Auto Components)<br>| 304910 | &nbsp;&nbsp; 2551 |
|  | &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Company of <br> China, Ltd. <br>(Insurance)<br>| 583000 | &nbsp;&nbsp; 4483 |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 285400 | &nbsp;&nbsp; 18001 |
|  |  |  | &nbsp;&nbsp; 26841 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **India—3.4%** | **India—3.4%** | **India—3.4%** |
|  | &nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. <br>(Health Care Providers & Services)<br>| 17738 | &nbsp;&nbsp; $1416 |
|  | &nbsp;&nbsp;&nbsp; Bajaj Finance Limited <br>(Consumer Finance)<br>| 435247 | &nbsp;&nbsp; 3726 |
|  | &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 675886 | &nbsp;&nbsp; 2899 |
|  | &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication <br> Services)<br>| 253508 | &nbsp;&nbsp; 4836 |
|  | &nbsp;&nbsp;&nbsp; Eicher Motors Limited <br>(Automobiles)<br>| 64541 | &nbsp;&nbsp; 4530 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 27275 | &nbsp;&nbsp; 1064 |
|  | &nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. <br>(Aerospace & Defense)<br>| 55849 | &nbsp;&nbsp; 2069 |
|  | &nbsp;&nbsp;&nbsp; Hitachi Energy India Ltd <br>(Electrical Equipment)<br>| 7511 | &nbsp;&nbsp; 1953 |
|  | &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. <br>(Banks)<br>| 228458 | &nbsp;&nbsp; 2947 |
|  | &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. <br>(Automobiles)<br>| 122775 | &nbsp;&nbsp; 3863 |
|  | &nbsp;&nbsp;&nbsp; Max Healthcare Institute Ltd. <br>(Health Care Providers & Services)<br>| 175722 | &nbsp;&nbsp; 1799 |
|  | &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India <br> Limited <br>(Capital Markets)<br>| 116767 | &nbsp;&nbsp; 2985 |
|  |  |  | &nbsp;&nbsp; 34087 |
|  | **Philippines—0.3%** | **Philippines—0.3%** | **Philippines—0.3%** |
|  | &nbsp;&nbsp;&nbsp; International Container Terminal <br> Services, Inc. <br>(Transportation Infrastructure)<br>| 287060 | &nbsp;&nbsp; 3254 |
|  | **South Korea—5.6%** | **South Korea—5.6%** | **South Korea—5.6%** |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Co.,Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 30047 | &nbsp;&nbsp; 5039 |
| \* <br>| &nbsp;&nbsp;&nbsp; Samsung Biologics Co.,Ltd. <br>(Life Sciences Tools & Services)<br>| 5194 | &nbsp;&nbsp; 5323 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 178938 | &nbsp;&nbsp; 20929 |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 35365 | &nbsp;&nbsp; 20064 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi Biologics (Cayman) Inc. <br>(Life Sciences Tools & Services)<br>| 1267000 | &nbsp;&nbsp; 5449 |
|  |  |  | &nbsp;&nbsp; 56804 |
|  | **Taiwan—8.0%** | **Taiwan—8.0%** | **Taiwan—8.0%** |
|  | &nbsp;&nbsp;&nbsp; Accton Technology Corp. <br>(Communications Equipment)<br>| 177000 | &nbsp;&nbsp; 8733 |
|  | &nbsp;&nbsp;&nbsp; Ase Technology Holding Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 720000 | &nbsp;&nbsp; 7924 |
|  | &nbsp;&nbsp;&nbsp; Asia Vital Components Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 88000 | &nbsp;&nbsp; 5812 |

---

See accompanying Notes to Portfolio of Investments.

**24**

------

**International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 1903000 | &nbsp;&nbsp; $11633 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 136937 | &nbsp;&nbsp; 46278 |
|  |  |  | &nbsp;&nbsp; 80380 |
|  | **Thailand—0.6%** | **Thailand—0.6%** | **Thailand—0.6%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Fabrinet <br>(Electronic Equipment, Instruments & <br> Components)<br>| 11651 | &nbsp;&nbsp; 6076 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 207442 |
|  | ***Japan—15.3%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Asahi Intecc Co., Ltd. <br>(Health Care Equipment & Supplies)<br>| 130800 | &nbsp;&nbsp; 2793 |
|  | &nbsp;&nbsp;&nbsp; ASICS Corporation <br>(Textiles, Apparel & Luxury Goods)<br>| 208200 | &nbsp;&nbsp; 5598 |
|  | &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. <br>(Pharmaceuticals)<br>| 177000 | &nbsp;&nbsp; 9761 |
|  | &nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. <br>(Machinery)<br>| 188200 | &nbsp;&nbsp; 6645 |
|  | &nbsp;&nbsp;&nbsp; Disco Corp. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 21900 | &nbsp;&nbsp; 8926 |
|  | &nbsp;&nbsp;&nbsp; East Japan Railway Company <br>(Road & Rail)<br>| 110200 | &nbsp;&nbsp; 2521 |
|  | &nbsp;&nbsp;&nbsp; Hitachi, Ltd. <br>(Industrial Conglomerates)<br>| 247900 | &nbsp;&nbsp; 7272 |
|  | &nbsp;&nbsp;&nbsp; Hoya Corp. <br>(Health Care Equipment & Supplies)<br>| 65800 | &nbsp;&nbsp; 11407 |
|  | &nbsp;&nbsp;&nbsp; Ibiden Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 182700 | &nbsp;&nbsp; 9142 |
|  | &nbsp;&nbsp;&nbsp; IHI Corporation <br>(Machinery)<br>| 569300 | &nbsp;&nbsp; 11746 |
|  | &nbsp;&nbsp;&nbsp; Internet Initiative Japan, Inc. <br>(Diversified Telecommunication <br> Services)<br>| 84100 | &nbsp;&nbsp; 1306 |
|  | &nbsp;&nbsp;&nbsp; Japan Elevator Service Holdings Co. Ltd. <br>(Commercial Services & Supplies)<br>| 156400 | &nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. <br>(Machinery)<br>| 41100 | &nbsp;&nbsp; 1966 |
|  | &nbsp;&nbsp;&nbsp; Marubeni Corporation <br>(Trading Companies & Distributors)<br>| 212000 | &nbsp;&nbsp; 7755 |
|  | &nbsp;&nbsp;&nbsp; MISUMI Group Inc. <br>(Machinery)<br>| 111300 | &nbsp;&nbsp; 1908 |
|  | &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corporation <br>(Electrical Equipment)<br>| 219500 | &nbsp;&nbsp; 7179 |
|  | &nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. <br>(Trading Companies & Distributors)<br>| 242300 | &nbsp;&nbsp; 2627 |
|  | &nbsp;&nbsp;&nbsp; Organo Corporation <br>(Machinery)<br>| 23900 | &nbsp;&nbsp; 2159 |
|  | &nbsp;&nbsp;&nbsp; ORIX Corporation. <br>(Financial Services)<br>| 251000 | &nbsp;&nbsp; 7448 |
| \* <br>| &nbsp;&nbsp;&nbsp; Rakuten Bank Ltd. <br>(Banks)<br>| 106200 | &nbsp;&nbsp; 3883 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Japan—(continued)*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries, Ltd. <br>(Auto Components)<br>| 199600 | &nbsp;&nbsp; $11341 |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. <br>(Banks)<br>| 355100 | &nbsp;&nbsp; 11676 |
|  | &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. <br>(Insurance)<br>| 311400 | &nbsp;&nbsp; 14618 |
|  | &nbsp;&nbsp;&nbsp; Tokyo Ohka Kogyo Co., Ltd. <br>(Chemicals)<br>| 50600 | &nbsp;&nbsp; 2476 |
|  | **Total Japan** |  | &nbsp;&nbsp; 153770 |
|  | ***United Kingdom—12.0%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; 3i Group PLC <br>(Capital Markets)<br>| 96786 | &nbsp;&nbsp; 3154 |
|  | &nbsp;&nbsp;&nbsp; AstraZeneca PLC <br>(Pharmaceuticals)<br>| 99900 | &nbsp;&nbsp; 19534 |
|  | &nbsp;&nbsp;&nbsp; BAE Systems PLC <br>(Aerospace & Defense)<br>| 415664 | &nbsp;&nbsp; 12187 |
|  | &nbsp;&nbsp;&nbsp; Barclays PLC <br>(Banks)<br>| 1204863 | &nbsp;&nbsp; 6306 |
|  | &nbsp;&nbsp;&nbsp; British American Tobacco P.L.C. <br>(Tobacco)<br>| 139221 | &nbsp;&nbsp; 8083 |
|  | &nbsp;&nbsp;&nbsp; BT Group PLC <br>(Diversified Telecommunication <br> Services)<br>| 1750751 | &nbsp;&nbsp; 4907 |
|  | &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC <br>(Beverages)<br>| 51561 | &nbsp;&nbsp; 4675 |
|  | &nbsp;&nbsp;&nbsp; Compass Group PLC <br>(Hotels, Restaurants & Leisure)<br>| 229317 | &nbsp;&nbsp; 6398 |
|  | &nbsp;&nbsp;&nbsp; Diploma PLC <br>(Trading Companies & Distributors)<br>| 103536 | &nbsp;&nbsp; 8267 |
|  | &nbsp;&nbsp;&nbsp; Halma Public Limited Company <br>(Electronic Equipment, Instruments & <br> Components)<br>| 202019 | &nbsp;&nbsp; 10309 |
|  | &nbsp;&nbsp;&nbsp; Hill & Smith PLC <br>(Metals & Mining)<br>| 45329 | &nbsp;&nbsp; 1271 |
|  | &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC <br>(Banks)<br>| 6167454 | &nbsp;&nbsp; 7644 |
|  | &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC <br>(Capital Markets)<br>| 78619 | &nbsp;&nbsp; 9284 |
|  | &nbsp;&nbsp;&nbsp; Rotork PLC <br>(Machinery)<br>| 757343 | &nbsp;&nbsp; 3149 |
|  | &nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC <br>(Machinery)<br>| 22898 | &nbsp;&nbsp; 2054 |
|  | &nbsp;&nbsp;&nbsp; SSE PLC <br>(Electric Utilities)<br>| 237445 | &nbsp;&nbsp; 8208 |
|  | &nbsp;&nbsp;&nbsp; Weir Group PLC <br>(Machinery)<br>| 85474 | &nbsp;&nbsp; 3206 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zegona Communications plc <br>(Diversified Telecommunication <br> Services)<br>| 91728 | &nbsp;&nbsp; 2018 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 120654 |
|  | ***Emerging Latin America—5.0%*** |  |  |
|  | **Brazil—3.4%** | **Brazil—3.4%** | **Brazil—3.4%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA <br>(Capital Markets)<br>| 747400 | &nbsp;&nbsp; 8122 |
|  | &nbsp;&nbsp;&nbsp; Companhia de Saneamento Basico do <br> Estado de Sao Paulo - SABESP <br>(Water Utilities)<br>| 208562 | &nbsp;&nbsp; 6371 |

---

See accompanying Notes to Portfolio of Investments.

**25**

------

**International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **Brazil—(continued)** | **Brazil—(continued)** | **Brazil—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 166300 | &nbsp;&nbsp; $2471 |
|  | &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA—ADR <br>(Banks)<br>| 900502 | &nbsp;&nbsp; 7546 |
| \* <br>| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. <br>(Broadline Retail)<br>| 2853 | &nbsp;&nbsp; 4933 |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd. <br>(Banks)<br>| 329800 | &nbsp;&nbsp; 4739 |
|  |  |  | &nbsp;&nbsp; 34182 |
|  | **Chile—0.5%** | **Chile—0.5%** | **Chile—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 118153 | &nbsp;&nbsp; 5298 |
|  | **Mexico—0.8%** | **Mexico—0.8%** | **Mexico—0.8%** |
|  | &nbsp;&nbsp;&nbsp; Arca Continental S.A.B. de C.V. <br>(Beverages)<br>| 129000 | &nbsp;&nbsp; 1486 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte <br> S.A.B. de C.V. <br>(Transportation Infrastructure)<br>| 117500 | &nbsp;&nbsp; 1686 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste S.A.B. <br> de C.V.—ADR <br>(Transportation Infrastructure)<br>| 6039 | &nbsp;&nbsp; 2030 |
| \* <br>| &nbsp;&nbsp;&nbsp; Vista Energy, S.A.B. de C.V.—ADR <br>(Oil, Gas & Consumable Fuels)<br>| 42007 | &nbsp;&nbsp; 3170 |
|  |  |  | &nbsp;&nbsp; 8372 |
|  | **Peru—0.3%** | **Peru—0.3%** | **Peru—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Credicorp Ltd.<sup>†</sup> <br>(Banks)<br>| 7810 | &nbsp;&nbsp; 2649 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 50501 |
|  | ***Western Hemisphere—4.4%*** |  |  |
|  | **Canada—4.4%** | **Canada—4.4%** | **Canada—4.4%** |
|  | &nbsp;&nbsp;&nbsp; Boyd Group Services, Inc. <br>(Commercial Services & Supplies)<br>| 7561 | &nbsp;&nbsp; 965 |
|  | &nbsp;&nbsp;&nbsp; Cameco Corporation <br>(Oil, Gas & Consumable Fuels)<br>| 27969 | &nbsp;&nbsp; 3038 |
|  | &nbsp;&nbsp;&nbsp; CES Energy Solutions Corp. <br>(Energy Equipment & Services)<br>| 191934 | &nbsp;&nbsp; 2540 |
|  | &nbsp;&nbsp;&nbsp; Intact Financial Corp. <br>(Insurance)<br>| 55691 | &nbsp;&nbsp; 10092 |
| \* <br>| &nbsp;&nbsp;&nbsp; K92 Mining Inc. <br>(Metals & Mining)<br>| 156978 | &nbsp;&nbsp; 2664 |
|  | &nbsp;&nbsp;&nbsp; Lundin Gold Inc. <br>(Metals & Mining)<br>| 90030 | &nbsp;&nbsp; 6880 |
| \* <br>| &nbsp;&nbsp;&nbsp; MDA Space Ltd. <br>(Aerospace & Defense)<br>| 78276 | &nbsp;&nbsp; 1983 |
|  | &nbsp;&nbsp;&nbsp; Peyto Exploration & Development Corp. <br>(Oil, Gas & Consumable Fuels)<br>| 153341 | &nbsp;&nbsp; 2996 |
|  | &nbsp;&nbsp;&nbsp; Toromont Industries Ltd. <br>(Trading Companies & Distributors)<br>| 50141 | &nbsp;&nbsp; 7020 |
|  | &nbsp;&nbsp;&nbsp; WSP Global Inc. <br>(Construction & Engineering)<br>| 37067 | &nbsp;&nbsp; 5769 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 43947 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—4.0%*** |  |  |
|  | **Greece—0.6%** | **Greece—0.6%** | **Greece—0.6%** |
|  | &nbsp;&nbsp;&nbsp; National Bank of Greece S.A. <br>(Banks)<br>| 378639 | &nbsp;&nbsp; 5849 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **South Africa—2.3%** | **South Africa—2.3%** | **South Africa—2.3%** |
|  | &nbsp;&nbsp;&nbsp; Bid Corp. Ltd. <br>(Consumer Staples Distribution & <br> Retail)<br>| 141373 | &nbsp;&nbsp; $3410 |
|  | &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. <br>(Banks)<br>| 12255 | &nbsp;&nbsp; 3011 |
|  | &nbsp;&nbsp;&nbsp; FirstRand Limited <br>(Financial Services)<br>| 891957 | &nbsp;&nbsp; 4566 |
|  | &nbsp;&nbsp;&nbsp; Gold Fields Limited <br>(Metals & Mining)<br>| 167182 | &nbsp;&nbsp; 7682 |
|  | &nbsp;&nbsp;&nbsp; MTN Group Limited <br>(Wireless Telecommunication <br> Services)<br>| 364375 | &nbsp;&nbsp; 4255 |
|  |  |  | &nbsp;&nbsp; 22924 |
|  | **United Arab Emirates—1.1%** | **United Arab Emirates—1.1%** | **United Arab Emirates—1.1%** |
|  | &nbsp;&nbsp;&nbsp; Aldar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 907698 | &nbsp;&nbsp; 1962 |
|  | &nbsp;&nbsp;&nbsp; Emaar Development PJSC <br>(Real Estate Management & <br> Development)<br>| 481105 | &nbsp;&nbsp; 1821 |
|  | &nbsp;&nbsp;&nbsp; Emaar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 962211 | &nbsp;&nbsp; 3149 |
|  | &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC <br>(Banks)<br>| 644477 | &nbsp;&nbsp; 4856 |
|  |  |  | &nbsp;&nbsp; 11788 |
|  | **Total Emerging Europe, Mid-East,** <br> **Africa**<br>|  | &nbsp;&nbsp; 40561 |
|  | ***Asia Ex-Japan—1.3%*** |  |  |
|  | **Australia—0.5%** | **Australia—0.5%** | **Australia—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Capricorn Metals Ltd <br>(Metals & Mining)<br>| 265482 | &nbsp;&nbsp; 2100 |
| \* <br>| &nbsp;&nbsp;&nbsp; Lynas Rare Earths Limited <br>(Metals & Mining)<br>| 108437 | &nbsp;&nbsp; 1472 |
|  | &nbsp;&nbsp;&nbsp; Steadfast Group Ltd. <br>(Insurance)<br>| 588022 | &nbsp;&nbsp; 1731 |
|  |  |  | &nbsp;&nbsp; 5303 |
|  | **Hong Kong—0.8%** | **Hong Kong—0.8%** | **Hong Kong—0.8%** |
|  | &nbsp;&nbsp;&nbsp; AIA Group Ltd. <br>(Insurance)<br>| 730600 | &nbsp;&nbsp; 8118 |
|  | **Total Asia Ex-Japan** |  | &nbsp;&nbsp; 13421 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.7%** <br>(cost $770,186)<br>|  | &nbsp;&nbsp; 983952 |

---

See accompanying Notes to Portfolio of Investments.

**26**

------

**International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $19,299, collateralized <br> by U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $19,685<br>| $19299 | &nbsp;&nbsp; $19299 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—1.9%** <br>(cost $19,299)<br>|  | &nbsp;&nbsp; 19299 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.6%** <br>(cost $789,485)<br>|  | &nbsp;&nbsp; 1003251 |
| **Cash and other assets,** <br>**less liabilities—0.4%**<br>|  | &nbsp;&nbsp; 3645 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $1006896 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company <br> REITs Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $171517 | &nbsp;&nbsp; $812435 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $983952 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 19299 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19299 |
| **Total Investments in Securities** | $171517 | &nbsp;&nbsp; $831734 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1003251 |

---

See accompanying Notes to Portfolio of Investments.

**27**

------

**Institutional International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Europe Ex-U.K.—35.0%*** |  |  |
|  | **Austria—1.3%** | **Austria—1.3%** | **Austria—1.3%** |
|  | &nbsp;&nbsp;&nbsp; BAWAG Group AG <br>(Banks)<br>| 23116 | &nbsp;&nbsp; $3514 |
|  | &nbsp;&nbsp;&nbsp; Erste Group Bank AG <br>(Banks)<br>| 42595 | &nbsp;&nbsp; 4601 |
|  | &nbsp;&nbsp;&nbsp; voestalpine AG <br>(Metals & Mining)<br>| 30303 | &nbsp;&nbsp; 1345 |
|  |  |  | &nbsp;&nbsp; 9460 |
|  | **Belgium—1.3%** | **Belgium—1.3%** | **Belgium—1.3%** |
|  | &nbsp;&nbsp;&nbsp; D'ieteren Group <br>(Distributors)<br>| 7491 | &nbsp;&nbsp; 1387 |
|  | &nbsp;&nbsp;&nbsp; UCB SA <br>(Pharmaceuticals)<br>| 19655 | &nbsp;&nbsp; 5922 |
|  | &nbsp;&nbsp;&nbsp; Warehouses De Pauw NV/SA <br>(Industrial REITs)<br>| 68509 | &nbsp;&nbsp; 1785 |
|  |  |  | &nbsp;&nbsp; 9094 |
|  | **Denmark—1.1%** | **Denmark—1.1%** | **Denmark—1.1%** |
|  | &nbsp;&nbsp;&nbsp; DSV AS <br>(Air Freight & Logistics)<br>| 26446 | &nbsp;&nbsp; 6387 |
|  | &nbsp;&nbsp;&nbsp; FLSmidth & Co. A/S <br>(Machinery)<br>| 18595 | &nbsp;&nbsp; 1409 |
|  |  |  | &nbsp;&nbsp; 7796 |
|  | **Finland—0.5%** | **Finland—0.5%** | **Finland—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Metso OYJ <br>(Machinery)<br>| 189358 | &nbsp;&nbsp; 3282 |
|  | **France—4.9%** | **France—4.9%** | **France—4.9%** |
|  | &nbsp;&nbsp;&nbsp; Airbus SE <br>(Aerospace & Defense)<br>| 23046 | &nbsp;&nbsp; 4358 |
| \* <br>| &nbsp;&nbsp;&nbsp; Constellium SE <br>(Metals & Mining)<br>| 57766 | &nbsp;&nbsp; 1420 |
|  | &nbsp;&nbsp;&nbsp; Dassault Aviation <br>(Aerospace & Defense)<br>| 4834 | &nbsp;&nbsp; 1799 |
|  | &nbsp;&nbsp;&nbsp; Hermes International <br>(Textiles, Apparel & Luxury Goods)<br>| 2213 | &nbsp;&nbsp; 4192 |
|  | &nbsp;&nbsp;&nbsp; Legrand <br>(Electrical Equipment)<br>| 32868 | &nbsp;&nbsp; 5106 |
|  | &nbsp;&nbsp;&nbsp; Orange <br>(Diversified Telecommunication <br> Services)<br>| 186424 | &nbsp;&nbsp; 3822 |
|  | &nbsp;&nbsp;&nbsp; Safran SA <br>(Aerospace & Defense)<br>| 16607 | &nbsp;&nbsp; 5434 |
|  | &nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech S.A. <br>(Life Sciences Tools & Services)<br>| 17846 | &nbsp;&nbsp; 3476 |
|  | &nbsp;&nbsp;&nbsp; TotalEnergies SE <br>(Oil, Gas & Consumable Fuels)<br>| 61435 | &nbsp;&nbsp; 5638 |
|  |  |  | &nbsp;&nbsp; 35245 |
|  | **Germany—3.8%** | **Germany—3.8%** | **Germany—3.8%** |
|  | &nbsp;&nbsp;&nbsp; AIXTRON SE <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 40300 | &nbsp;&nbsp; 1573 |
|  | &nbsp;&nbsp;&nbsp; Allianz SE <br>(Insurance)<br>| 12817 | &nbsp;&nbsp; 5413 |
|  | &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA <br>(Entertainment)<br>| 18239 | &nbsp;&nbsp; 1068 |
|  | &nbsp;&nbsp;&nbsp; Deutsche Boerse Aktiengesellschaft <br>(Capital Markets)<br>| 22885 | &nbsp;&nbsp; 6704 |
|  | &nbsp;&nbsp;&nbsp; flatexDEGIRO AG <br>(Capital Markets)<br>| 41112 | &nbsp;&nbsp; 1418 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Europe Ex-U.K.—(continued)*** |  |  |
|  | **Germany—(continued)** | **Germany—(continued)** | **Germany—(continued)** |
|  | &nbsp;&nbsp;&nbsp; MTU Aero Engines AG <br>(Aerospace & Defense)<br>| 14726 | &nbsp;&nbsp; $5372 |
|  | &nbsp;&nbsp;&nbsp; Siemens Energy AG <br>(Electrical Equipment)<br>| 36250 | &nbsp;&nbsp; 6251 |
|  |  |  | &nbsp;&nbsp; 27799 |
|  | **Ireland—2.1%** | **Ireland—2.1%** | **Ireland—2.1%** |
|  | &nbsp;&nbsp;&nbsp; AIB Group PLC <br>(Banks)<br>| 401194 | &nbsp;&nbsp; 4283 |
|  | &nbsp;&nbsp;&nbsp; Kingspan Group PLC <br>(Building Products)<br>| 44388 | &nbsp;&nbsp; 3795 |
|  | &nbsp;&nbsp;&nbsp; Linde Public Limited Company<sup>†</sup> <br>(Chemicals)<br>| 10937 | &nbsp;&nbsp; 5422 |
|  | &nbsp;&nbsp;&nbsp; Ryanair Holdings Public Limited <br> Company—ADR <br>(Airlines)<br>| 30984 | &nbsp;&nbsp; 1791 |
|  |  |  | &nbsp;&nbsp; 15291 |
|  | **Israel—0.5%** | **Israel—0.5%** | **Israel—0.5%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries <br> Limited—ADR <br>(Pharmaceuticals)<br>| 123649 | &nbsp;&nbsp; 3724 |
|  | **Italy—4.2%** | **Italy—4.2%** | **Italy—4.2%** |
|  | &nbsp;&nbsp;&nbsp; Azimut Holding SpA <br>(Capital Markets)<br>| 54983 | &nbsp;&nbsp; 2089 |
|  | &nbsp;&nbsp;&nbsp; Brunello Cucinelli SpA <br>(Textiles, Apparel & Luxury Goods)<br>| 12589 | &nbsp;&nbsp; 1100 |
|  | &nbsp;&nbsp;&nbsp; Enel SpA <br>(Electric Utilities)<br>| 365255 | &nbsp;&nbsp; 3993 |
|  | &nbsp;&nbsp;&nbsp; Intesa Sanpaolo S.p.A <br>(Banks)<br>| 748244 | &nbsp;&nbsp; 4525 |
|  | &nbsp;&nbsp;&nbsp; Italgas S.p.A. <br>(Gas Utilities)<br>| 320101 | &nbsp;&nbsp; 3729 |
|  | &nbsp;&nbsp;&nbsp; Lottomatica Group S.p.A. <br>(Hotels, Restaurants & Leisure)<br>| 64122 | &nbsp;&nbsp; 1852 |
|  | &nbsp;&nbsp;&nbsp; Saipem S.p.A. <br>(Energy Equipment & Services)<br>| 809345 | &nbsp;&nbsp; 3703 |
| \* <br>| &nbsp;&nbsp;&nbsp; Telecom Italia SpA <br>(Diversified Telecommunication <br> Services)<br>| 4181420 | &nbsp;&nbsp; 2936 |
| \* <br>| &nbsp;&nbsp;&nbsp; Telecom Italia SpA <br>(Diversified Telecommunication <br> Services)<br>| 4181420 | &nbsp;&nbsp; 0 |
|  | &nbsp;&nbsp;&nbsp; UniCredit S.p.A. <br>(Banks)<br>| 89928 | &nbsp;&nbsp; 6452 |
|  |  |  | &nbsp;&nbsp; 30379 |
|  | **Luxembourg—0.9%** | **Luxembourg—0.9%** | **Luxembourg—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Millicom International Cellular S.A. <br>(Wireless Telecommunication Services)<br>| 35555 | &nbsp;&nbsp; 2664 |
|  | &nbsp;&nbsp;&nbsp; Tenaris S.A. <br>(Energy Equipment & Services)<br>| 133468 | &nbsp;&nbsp; 3902 |
|  |  |  | &nbsp;&nbsp; 6566 |
|  | **Netherlands—5.2%** | **Netherlands—5.2%** | **Netherlands—5.2%** |
| \* <br>| &nbsp;&nbsp;&nbsp; argenx SE—ADR <br>(Biotechnology)<br>| 6956 | &nbsp;&nbsp; 5080 |
|  | &nbsp;&nbsp;&nbsp; ASM International N.V. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 9234 | &nbsp;&nbsp; 6999 |

---

See accompanying Notes to Portfolio of Investments.

**28**

------

**Institutional International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Europe Ex-U.K.—(continued)*** |  |  |
|  | **Netherlands—(continued)** | **Netherlands—(continued)** | **Netherlands—(continued)** |
|  | &nbsp;&nbsp;&nbsp; ASML Holding NV <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 15290 | &nbsp;&nbsp; $20332 |
|  | &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 25384 | &nbsp;&nbsp; 5437 |
|  |  |  | &nbsp;&nbsp; 37848 |
|  | **Norway—0.1%** | **Norway—0.1%** | **Norway—0.1%** |
|  | &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA <br>(Insurance)<br>| 41573 | &nbsp;&nbsp; 1087 |
|  | **Spain—2.5%** | **Spain—2.5%** | **Spain—2.5%** |
|  | &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A. <br>(Banks)<br>| 357540 | &nbsp;&nbsp; 7723 |
|  | &nbsp;&nbsp;&nbsp; Bankinter SA <br>(Banks)<br>| 98430 | &nbsp;&nbsp; 1559 |
|  | &nbsp;&nbsp;&nbsp; Iberdrola, S.A. <br>(Electric Utilities)<br>| 390194 | &nbsp;&nbsp; 8933 |
|  |  |  | &nbsp;&nbsp; 18215 |
|  | **Sweden—1.4%** | **Sweden—1.4%** | **Sweden—1.4%** |
|  | &nbsp;&nbsp;&nbsp; Atlas Copco AB <br>(Machinery)<br>| 296941 | &nbsp;&nbsp; 5240 |
|  | &nbsp;&nbsp;&nbsp; Beijer Ref AB <br>(Trading Companies & Distributors)<br>| 106511 | &nbsp;&nbsp; 1477 |
| \* <br>| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB <br>(Biotechnology)<br>| 89476 | &nbsp;&nbsp; 3750 |
|  |  |  | &nbsp;&nbsp; 10467 |
|  | **Switzerland—5.2%** | **Switzerland—5.2%** | **Switzerland—5.2%** |
|  | &nbsp;&nbsp;&nbsp; Galderma Group AG <br>(Pharmaceuticals)<br>| 39520 | &nbsp;&nbsp; 7767 |
|  | &nbsp;&nbsp;&nbsp; Galenica AG <br>(Health Care Providers & Services)<br>| 18693 | &nbsp;&nbsp; 2128 |
|  | &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. <br>(Auto Components)<br>| 136263 | &nbsp;&nbsp; 2476 |
|  | &nbsp;&nbsp;&nbsp; Lonza Group AG <br>(Life Sciences Tools & Services)<br>| 8352 | &nbsp;&nbsp; 5358 |
|  | &nbsp;&nbsp;&nbsp; Novartis AG <br>(Pharmaceuticals)<br>| 35538 | &nbsp;&nbsp; 5455 |
|  | &nbsp;&nbsp;&nbsp; Roche Holding AG <br>(Pharmaceuticals)<br>| 8948 | &nbsp;&nbsp; 3571 |
|  | &nbsp;&nbsp;&nbsp; Sandoz Group AG <br>(Pharmaceuticals)<br>| 99004 | &nbsp;&nbsp; 7757 |
|  | &nbsp;&nbsp;&nbsp; VAT Group AG <br>(Machinery)<br>| 5386 | &nbsp;&nbsp; 3360 |
|  |  |  | &nbsp;&nbsp; 37872 |
|  | **Total Europe Ex-U.K.** |  | &nbsp;&nbsp; 254125 |
|  | ***Emerging Asia—20.5%*** |  |  |
|  | **China—2.7%** | **China—2.7%** | **China—2.7%** |
|  | &nbsp;&nbsp;&nbsp; Airtac International Group <br>(Machinery)<br>| 40204 | &nbsp;&nbsp; 1280 |
|  | &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd. <br>(Auto Components)<br>| 219200 | &nbsp;&nbsp; 1834 |
|  | &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Company of <br> China, Ltd. <br>(Insurance)<br>| 419500 | &nbsp;&nbsp; 3226 |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 205200 | &nbsp;&nbsp; 12942 |
|  |  |  | &nbsp;&nbsp; 19282 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **India—3.4%** | **India—3.4%** | **India—3.4%** |
|  | &nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. <br>(Health Care Providers & Services)<br>| 12754 | &nbsp;&nbsp; $1019 |
|  | &nbsp;&nbsp;&nbsp; Bajaj Finance Limited <br>(Consumer Finance)<br>| 312947 | &nbsp;&nbsp; 2679 |
|  | &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 485969 | &nbsp;&nbsp; 2085 |
|  | &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication Services)<br>| 182275 | &nbsp;&nbsp; 3477 |
|  | &nbsp;&nbsp;&nbsp; Eicher Motors Limited <br>(Automobiles)<br>| 46406 | &nbsp;&nbsp; 3257 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 19573 | &nbsp;&nbsp; 763 |
|  | &nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. <br>(Aerospace & Defense)<br>| 40156 | &nbsp;&nbsp; 1487 |
|  | &nbsp;&nbsp;&nbsp; Hitachi Energy India Ltd <br>(Electrical Equipment)<br>| 5384 | &nbsp;&nbsp; 1400 |
|  | &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. <br>(Banks)<br>| 164006 | &nbsp;&nbsp; 2116 |
|  | &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. <br>(Automobiles)<br>| 88277 | &nbsp;&nbsp; 2778 |
|  | &nbsp;&nbsp;&nbsp; Max Healthcare Institute Ltd. <br>(Health Care Providers & Services)<br>| 126346 | &nbsp;&nbsp; 1293 |
|  | &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India <br> Limited <br>(Capital Markets)<br>| 83706 | &nbsp;&nbsp; 2140 |
|  |  |  | &nbsp;&nbsp; 24494 |
|  | **Philippines—0.3%** | **Philippines—0.3%** | **Philippines—0.3%** |
|  | &nbsp;&nbsp;&nbsp; International Container Terminal Services, <br> Inc. <br>(Transportation Infrastructure)<br>| 206180 | &nbsp;&nbsp; 2338 |
|  | **South Korea—5.6%** | **South Korea—5.6%** | **South Korea—5.6%** |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Co.,Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 21604 | &nbsp;&nbsp; 3623 |
| \* <br>| &nbsp;&nbsp;&nbsp; Samsung Biologics Co.,Ltd. <br>(Life Sciences Tools & Services)<br>| 3735 | &nbsp;&nbsp; 3828 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 128658 | &nbsp;&nbsp; 15048 |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 25399 | &nbsp;&nbsp; 14411 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi Biologics (Cayman) Inc. <br>(Life Sciences Tools & Services)<br>| 911000 | &nbsp;&nbsp; 3918 |
|  |  |  | &nbsp;&nbsp; 40828 |
|  | **Taiwan—7.9%** | **Taiwan—7.9%** | **Taiwan—7.9%** |
|  | &nbsp;&nbsp;&nbsp; Accton Technology Corp. <br>(Communications Equipment)<br>| 128000 | &nbsp;&nbsp; 6315 |
|  | &nbsp;&nbsp;&nbsp; Ase Technology Holding Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 517000 | &nbsp;&nbsp; 5690 |
|  | &nbsp;&nbsp;&nbsp; Asia Vital Components Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 63000 | &nbsp;&nbsp; 4161 |

---

See accompanying Notes to Portfolio of Investments.

**29**

------

**Institutional International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 1368000 | &nbsp;&nbsp; $8362 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 98270 | &nbsp;&nbsp; 33211 |
|  |  |  | &nbsp;&nbsp; 57739 |
|  | **Thailand—0.6%** | **Thailand—0.6%** | **Thailand—0.6%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Fabrinet <br>(Electronic Equipment, Instruments & <br> Components)<br>| 8361 | &nbsp;&nbsp; 4360 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 149041 |
|  | ***Japan—15.2%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Asahi Intecc Co., Ltd. <br>(Health Care Equipment & Supplies)<br>| 94000 | &nbsp;&nbsp; 2007 |
|  | &nbsp;&nbsp;&nbsp; ASICS Corporation <br>(Textiles, Apparel & Luxury Goods)<br>| 149700 | &nbsp;&nbsp; 4025 |
|  | &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. <br>(Pharmaceuticals)<br>| 127100 | &nbsp;&nbsp; 7009 |
|  | &nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. <br>(Machinery)<br>| 135400 | &nbsp;&nbsp; 4781 |
|  | &nbsp;&nbsp;&nbsp; Disco Corp. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 15700 | &nbsp;&nbsp; 6399 |
|  | &nbsp;&nbsp;&nbsp; East Japan Railway Company <br>(Road & Rail)<br>| 79200 | &nbsp;&nbsp; 1812 |
|  | &nbsp;&nbsp;&nbsp; Hitachi, Ltd. <br>(Industrial Conglomerates)<br>| 178300 | &nbsp;&nbsp; 5231 |
|  | &nbsp;&nbsp;&nbsp; Hoya Corp. <br>(Health Care Equipment & Supplies)<br>| 47300 | &nbsp;&nbsp; 8200 |
|  | &nbsp;&nbsp;&nbsp; Ibiden Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 131300 | &nbsp;&nbsp; 6570 |
|  | &nbsp;&nbsp;&nbsp; IHI Corporation <br>(Machinery)<br>| 409400 | &nbsp;&nbsp; 8447 |
|  | &nbsp;&nbsp;&nbsp; Internet Initiative Japan, Inc. <br>(Diversified Telecommunication <br> Services)<br>| 60500 | &nbsp;&nbsp; 940 |
|  | &nbsp;&nbsp;&nbsp; Japan Elevator Service Holdings Co. Ltd. <br>(Commercial Services & Supplies)<br>| 112400 | &nbsp;&nbsp; 1162 |
|  | &nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. <br>(Machinery)<br>| 29500 | &nbsp;&nbsp; 1411 |
|  | &nbsp;&nbsp;&nbsp; Marubeni Corporation <br>(Trading Companies & Distributors)<br>| 152400 | &nbsp;&nbsp; 5575 |
|  | &nbsp;&nbsp;&nbsp; MISUMI Group Inc. <br>(Machinery)<br>| 80000 | &nbsp;&nbsp; 1371 |
|  | &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corporation <br>(Electrical Equipment)<br>| 157800 | &nbsp;&nbsp; 5161 |
|  | &nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. <br>(Trading Companies & Distributors)<br>| 174200 | &nbsp;&nbsp; 1888 |
|  | &nbsp;&nbsp;&nbsp; Organo Corporation <br>(Machinery)<br>| 17200 | &nbsp;&nbsp; 1554 |
|  | &nbsp;&nbsp;&nbsp; ORIX Corporation. <br>(Financial Services)<br>| 180500 | &nbsp;&nbsp; 5356 |
| \* <br>| &nbsp;&nbsp;&nbsp; Rakuten Bank Ltd. <br>(Banks)<br>| 76400 | &nbsp;&nbsp; 2793 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Japan—(continued)*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries, Ltd. <br>(Auto Components)<br>| 143500 | &nbsp;&nbsp; $8154 |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. <br>(Banks)<br>| 255000 | &nbsp;&nbsp; 8385 |
|  | &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. <br>(Insurance)<br>| 223600 | &nbsp;&nbsp; 10496 |
|  | &nbsp;&nbsp;&nbsp; Tokyo Ohka Kogyo Co., Ltd. <br>(Chemicals)<br>| 36300 | &nbsp;&nbsp; 1776 |
|  | **Total Japan** |  | &nbsp;&nbsp; 110503 |
|  | ***United Kingdom—11.9%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; 3i Group PLC <br>(Capital Markets)<br>| 69589 | &nbsp;&nbsp; 2268 |
|  | &nbsp;&nbsp;&nbsp; AstraZeneca PLC <br>(Pharmaceuticals)<br>| 71829 | &nbsp;&nbsp; 14046 |
|  | &nbsp;&nbsp;&nbsp; BAE Systems PLC <br>(Aerospace & Defense)<br>| 298867 | &nbsp;&nbsp; 8762 |
|  | &nbsp;&nbsp;&nbsp; Barclays PLC <br>(Banks)<br>| 864950 | &nbsp;&nbsp; 4527 |
|  | &nbsp;&nbsp;&nbsp; British American Tobacco P.L.C. <br>(Tobacco)<br>| 99990 | &nbsp;&nbsp; 5805 |
|  | &nbsp;&nbsp;&nbsp; BT Group PLC <br>(Diversified Telecommunication <br> Services)<br>| 1258809 | &nbsp;&nbsp; 3528 |
|  | &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC <br>(Beverages)<br>| 37073 | &nbsp;&nbsp; 3361 |
|  | &nbsp;&nbsp;&nbsp; Compass Group PLC <br>(Hotels, Restaurants & Leisure)<br>| 164882 | &nbsp;&nbsp; 4600 |
|  | &nbsp;&nbsp;&nbsp; Diploma PLC <br>(Trading Companies & Distributors)<br>| 74444 | &nbsp;&nbsp; 5944 |
|  | &nbsp;&nbsp;&nbsp; Halma Public Limited Company <br>(Electronic Equipment, Instruments & <br> Components)<br>| 145254 | &nbsp;&nbsp; 7413 |
|  | &nbsp;&nbsp;&nbsp; Hill & Smith PLC <br>(Metals & Mining)<br>| 32592 | &nbsp;&nbsp; 914 |
|  | &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC <br>(Banks)<br>| 4434467 | &nbsp;&nbsp; 5496 |
|  | &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC <br>(Capital Markets)<br>| 56528 | &nbsp;&nbsp; 6675 |
|  | &nbsp;&nbsp;&nbsp; Rotork PLC <br>(Machinery)<br>| 544538 | &nbsp;&nbsp; 2264 |
|  | &nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC <br>(Machinery)<br>| 16464 | &nbsp;&nbsp; 1477 |
|  | &nbsp;&nbsp;&nbsp; SSE PLC <br>(Electric Utilities)<br>| 170536 | &nbsp;&nbsp; 5895 |
|  | &nbsp;&nbsp;&nbsp; Weir Group PLC <br>(Machinery)<br>| 61457 | &nbsp;&nbsp; 2305 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zegona Communications plc <br>(Diversified Telecommunication <br> Services)<br>| 65954 | &nbsp;&nbsp; 1451 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 86731 |
|  | ***Emerging Latin America—5.0%*** |  |  |
|  | **Brazil—3.4%** | **Brazil—3.4%** | **Brazil—3.4%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA <br>(Capital Markets)<br>| 537400 | &nbsp;&nbsp; 5840 |
|  | &nbsp;&nbsp;&nbsp; Companhia de Saneamento Basico do <br> Estado de Sao Paulo - SABESP <br>(Water Utilities)<br>| 146627 | &nbsp;&nbsp; 4479 |

---

See accompanying Notes to Portfolio of Investments.

**30**

------

**Institutional International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **Brazil—(continued)** | **Brazil—(continued)** | **Brazil—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 119600 | &nbsp;&nbsp; $1777 |
|  | &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA—ADR <br>(Banks)<br>| 647471 | &nbsp;&nbsp; 5426 |
| \* <br>| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. <br>(Broadline Retail)<br>| 2051 | &nbsp;&nbsp; 3546 |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd. <br>(Banks)<br>| 237130 | &nbsp;&nbsp; 3408 |
|  |  |  | &nbsp;&nbsp; 24476 |
|  | **Chile—0.5%** | **Chile—0.5%** | **Chile—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 84953 | &nbsp;&nbsp; 3810 |
|  | **Mexico—0.8%** | **Mexico—0.8%** | **Mexico—0.8%** |
|  | &nbsp;&nbsp;&nbsp; Arca Continental S.A.B. de C.V. <br>(Beverages)<br>| 92800 | &nbsp;&nbsp; 1069 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte <br> S.A.B. de C.V. <br>(Transportation Infrastructure)<br>| 84500 | &nbsp;&nbsp; 1212 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste S.A.B. de <br> C.V.—ADR <br>(Transportation Infrastructure)<br>| 4342 | &nbsp;&nbsp; 1459 |
| \* <br>| &nbsp;&nbsp;&nbsp; Vista Energy, S.A.B. de C.V.—ADR <br>(Oil, Gas & Consumable Fuels)<br>| 30156 | &nbsp;&nbsp; 2276 |
|  |  |  | &nbsp;&nbsp; 6016 |
|  | **Peru—0.3%** | **Peru—0.3%** | **Peru—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Credicorp Ltd.<sup>†</sup> <br>(Banks)<br>| 5616 | &nbsp;&nbsp; 1905 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 36207 |
|  | ***Western Hemisphere—4.4%*** |  |  |
|  | **Canada—4.4%** | **Canada—4.4%** | **Canada—4.4%** |
|  | &nbsp;&nbsp;&nbsp; Boyd Group Services, Inc. <br>(Commercial Services & Supplies)<br>| 5436 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp; Cameco Corporation <br>(Oil, Gas & Consumable Fuels)<br>| 20110 | &nbsp;&nbsp; 2184 |
|  | &nbsp;&nbsp;&nbsp; CES Energy Solutions Corp. <br>(Energy Equipment & Services)<br>| 138003 | &nbsp;&nbsp; 1826 |
|  | &nbsp;&nbsp;&nbsp; Intact Financial Corp. <br>(Insurance)<br>| 39980 | &nbsp;&nbsp; 7245 |
| \* <br>| &nbsp;&nbsp;&nbsp; K92 Mining Inc. <br>(Metals & Mining)<br>| 112869 | &nbsp;&nbsp; 1916 |
|  | &nbsp;&nbsp;&nbsp; Lundin Gold Inc. <br>(Metals & Mining)<br>| 64732 | &nbsp;&nbsp; 4947 |
| \* <br>| &nbsp;&nbsp;&nbsp; MDA Space Ltd. <br>(Aerospace & Defense)<br>| 56189 | &nbsp;&nbsp; 1423 |
|  | &nbsp;&nbsp;&nbsp; Peyto Exploration & Development Corp. <br>(Oil, Gas & Consumable Fuels)<br>| 110254 | &nbsp;&nbsp; 2154 |
|  | &nbsp;&nbsp;&nbsp; Toromont Industries Ltd. <br>(Trading Companies & Distributors)<br>| 36052 | &nbsp;&nbsp; 5047 |
|  | &nbsp;&nbsp;&nbsp; WSP Global Inc. <br>(Construction & Engineering)<br>| 26651 | &nbsp;&nbsp; 4148 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 31584 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—4.0%*** |  |  |
|  | **Greece—0.6%** | **Greece—0.6%** | **Greece—0.6%** |
|  | &nbsp;&nbsp;&nbsp; National Bank of Greece S.A. <br>(Banks)<br>| 272245 | &nbsp;&nbsp; 4206 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **South Africa—2.3%** | **South Africa—2.3%** | **South Africa—2.3%** |
|  | &nbsp;&nbsp;&nbsp; Bid Corp. Ltd. <br>(Consumer Staples Distribution & <br> Retail)<br>| 101649 | &nbsp;&nbsp; $2452 |
|  | &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. <br>(Banks)<br>| 8812 | &nbsp;&nbsp; 2165 |
|  | &nbsp;&nbsp;&nbsp; FirstRand Limited <br>(Financial Services)<br>| 641327 | &nbsp;&nbsp; 3283 |
|  | &nbsp;&nbsp;&nbsp; Gold Fields Limited <br>(Metals & Mining)<br>| 120206 | &nbsp;&nbsp; 5524 |
|  | &nbsp;&nbsp;&nbsp; MTN Group Limited <br>(Wireless Telecommunication Services)<br>| 261990 | &nbsp;&nbsp; 3059 |
|  |  |  | &nbsp;&nbsp; 16483 |
|  | **United Arab Emirates—1.1%** | **United Arab Emirates—1.1%** | **United Arab Emirates—1.1%** |
|  | &nbsp;&nbsp;&nbsp; Aldar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 652645 | &nbsp;&nbsp; 1411 |
|  | &nbsp;&nbsp;&nbsp; Emaar Development PJSC <br>(Real Estate Management & <br> Development)<br>| 345920 | &nbsp;&nbsp; 1309 |
|  | &nbsp;&nbsp;&nbsp; Emaar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 691841 | &nbsp;&nbsp; 2264 |
|  | &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC <br>(Banks)<br>| 463386 | &nbsp;&nbsp; 3491 |
|  |  |  | &nbsp;&nbsp; 8475 |
|  | **Total Emerging Europe, Mid-East,** <br> **Africa**<br>|  | &nbsp;&nbsp; 29164 |
|  | ***Asia Ex-Japan—1.3%*** |  |  |
|  | **Australia—0.5%** | **Australia—0.5%** | **Australia—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Capricorn Metals Ltd <br>(Metals & Mining)<br>| 190884 | &nbsp;&nbsp; 1509 |
| \* <br>| &nbsp;&nbsp;&nbsp; Lynas Rare Earths Limited <br>(Metals & Mining)<br>| 77880 | &nbsp;&nbsp; 1057 |
|  | &nbsp;&nbsp;&nbsp; Steadfast Group Ltd. <br>(Insurance)<br>| 422794 | &nbsp;&nbsp; 1245 |
|  |  |  | &nbsp;&nbsp; 3811 |
|  | **Hong Kong—0.8%** | **Hong Kong—0.8%** | **Hong Kong—0.8%** |
|  | &nbsp;&nbsp;&nbsp; AIA Group Ltd. <br>(Insurance)<br>| 525400 | &nbsp;&nbsp; 5838 |
|  | **Total Asia Ex-Japan** |  | &nbsp;&nbsp; 9649 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.3%** <br>(cost $556,806)<br>|  | &nbsp;&nbsp; 707004 |

---

See accompanying Notes to Portfolio of Investments.

**31**

------

**Institutional International Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $16,645, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $16,977<br>| $16644 | &nbsp;&nbsp; $16644 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—2.3%** <br>(cost $16,644)<br>|  | &nbsp;&nbsp; 16644 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.6%** <br>(cost $573,450)<br>|  | &nbsp;&nbsp; 723648 |
| **Cash and other assets,** <br>**less liabilities—0.4%**<br>|  | &nbsp;&nbsp; 2796 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $726444 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company <br> REITs Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $123130 | &nbsp;&nbsp; $583874 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $707004 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 16644 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16644 |
| **Total Investments in Securities** | $123130 | &nbsp;&nbsp; $600518 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $723648 |

---

See accompanying Notes to Portfolio of Investments.

**32**

------

**International Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Europe Ex-U.K.—27.4%*** |  |  |
|  | **Austria—0.5%** | **Austria—0.5%** | **Austria—0.5%** |
|  | &nbsp;&nbsp;&nbsp; voestalpine AG <br>(Metals & Mining)<br>| 15497 | &nbsp;&nbsp; $688 |
|  | **Belgium—1.7%** | **Belgium—1.7%** | **Belgium—1.7%** |
|  | &nbsp;&nbsp;&nbsp; D'ieteren Group <br>(Distributors)<br>| 6952 | &nbsp;&nbsp; 1287 |
|  | &nbsp;&nbsp;&nbsp; Warehouses De Pauw NV/SA <br>(Industrial REITs)<br>| 35331 | &nbsp;&nbsp; 921 |
|  |  |  | &nbsp;&nbsp; 2208 |
|  | **Denmark—1.0%** | **Denmark—1.0%** | **Denmark—1.0%** |
|  | &nbsp;&nbsp;&nbsp; FLSmidth & Co. A/S <br>(Machinery)<br>| 16754 | &nbsp;&nbsp; 1269 |
|  | **France—2.1%** | **France—2.1%** | **France—2.1%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Constellium SE <br>(Metals & Mining)<br>| 24873 | &nbsp;&nbsp; 611 |
|  | &nbsp;&nbsp;&nbsp; Dassault Aviation <br>(Aerospace & Defense)<br>| 5419 | &nbsp;&nbsp; 2017 |
|  |  |  | &nbsp;&nbsp; 2628 |
|  | **Germany—2.8%** | **Germany—2.8%** | **Germany—2.8%** |
|  | &nbsp;&nbsp;&nbsp; AIXTRON SE <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 17451 | &nbsp;&nbsp; 681 |
|  | &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA <br>(Entertainment)<br>| 8646 | &nbsp;&nbsp; 507 |
|  | &nbsp;&nbsp;&nbsp; Eckert & Ziegler SE <br>(Health Care Equipment & Supplies)<br>| 28427 | &nbsp;&nbsp; 490 |
|  | &nbsp;&nbsp;&nbsp; flatexDEGIRO AG <br>(Capital Markets)<br>| 24836 | &nbsp;&nbsp; 857 |
|  | &nbsp;&nbsp;&nbsp; HENSOLDT AG <br>(Aerospace & Defense)<br>| 7439 | &nbsp;&nbsp; 660 |
|  | &nbsp;&nbsp;&nbsp; Schaeffler AG <br>(Auto Components)<br>| 42396 | &nbsp;&nbsp; 354 |
|  |  |  | &nbsp;&nbsp; 3549 |
|  | **Israel—0.5%** | **Israel—0.5%** | **Israel—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Next Vision Stabilized Systems Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 7328 | &nbsp;&nbsp; 713 |
|  | **Italy—6.0%** | **Italy—6.0%** | **Italy—6.0%** |
|  | &nbsp;&nbsp;&nbsp; Azimut Holding SpA <br>(Capital Markets)<br>| 30998 | &nbsp;&nbsp; 1178 |
|  | &nbsp;&nbsp;&nbsp; Brunello Cucinelli SpA <br>(Textiles, Apparel & Luxury Goods)<br>| 8587 | &nbsp;&nbsp; 750 |
|  | &nbsp;&nbsp;&nbsp; Carel Industries SpA <br>(Building Products)<br>| 36350 | &nbsp;&nbsp; 931 |
|  | &nbsp;&nbsp;&nbsp; Italgas S.p.A. <br>(Gas Utilities)<br>| 75184 | &nbsp;&nbsp; 876 |
|  | &nbsp;&nbsp;&nbsp; Lottomatica Group S.p.A. <br>(Hotels, Restaurants & Leisure)<br>| 26790 | &nbsp;&nbsp; 773 |
|  | &nbsp;&nbsp;&nbsp; Saipem S.p.A. <br>(Energy Equipment & Services)<br>| 260011 | &nbsp;&nbsp; 1190 |
|  | &nbsp;&nbsp;&nbsp; SOL SpA <br>(Chemicals)<br>| 28094 | &nbsp;&nbsp; 1904 |
|  |  |  | &nbsp;&nbsp; 7602 |
|  | **Jersey—0.5%** | **Jersey—0.5%** | **Jersey—0.5%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Rosebank Industries PLC <br>(Industrial Conglomerates)<br>| 147395 | &nbsp;&nbsp; 617 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Europe Ex-U.K.—(continued)*** |  |  |
|  | **Luxembourg—0.9%** | **Luxembourg—0.9%** | **Luxembourg—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Millicom International Cellular S.A. <br>(Wireless Telecommunication Services)<br>| 15095 | &nbsp;&nbsp; $1131 |
|  | **Norway—2.0%** | **Norway—2.0%** | **Norway—2.0%** |
|  | &nbsp;&nbsp;&nbsp; Europris ASA <br>(Broadline Retail)<br>| 70439 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA <br>(Insurance)<br>| 34876 | &nbsp;&nbsp; 912 |
|  | &nbsp;&nbsp;&nbsp; Kitron ASA <br>(Electronic Equipment, Instruments & <br> Components)<br>| 100932 | &nbsp;&nbsp; 974 |
|  |  |  | &nbsp;&nbsp; 2552 |
|  | **Spain—1.1%** | **Spain—1.1%** | **Spain—1.1%** |
|  | &nbsp;&nbsp;&nbsp; Almirall SA <br>(Pharmaceuticals)<br>| 53008 | &nbsp;&nbsp; 752 |
|  | &nbsp;&nbsp;&nbsp; Atalaya Mining Copper SA <br>(Metals & Mining)<br>| 63222 | &nbsp;&nbsp; 602 |
|  |  |  | &nbsp;&nbsp; 1354 |
|  | **Sweden—4.3%** | **Sweden—4.3%** | **Sweden—4.3%** |
|  | &nbsp;&nbsp;&nbsp; AQ Group AB <br>(Electrical Equipment)<br>| 46245 | &nbsp;&nbsp; 918 |
|  | &nbsp;&nbsp;&nbsp; Beijer Ref AB <br>(Trading Companies & Distributors)<br>| 46888 | &nbsp;&nbsp; 650 |
|  | &nbsp;&nbsp;&nbsp; Bufab AB <br>(Trading Companies & Distributors)<br>| 155757 | &nbsp;&nbsp; 1737 |
| \* <br>| &nbsp;&nbsp;&nbsp; Dynavox Group AB <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 49754 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp; Lifco AB <br>(Industrial Conglomerates)<br>| 18977 | &nbsp;&nbsp; 574 |
| \* <br>| &nbsp;&nbsp;&nbsp; MedCap AB (publ) <br>(Life Sciences Tools & Services)<br>| 9061 | &nbsp;&nbsp; 450 |
|  | &nbsp;&nbsp;&nbsp; RaySearch Laboratories AB <br>(Health Care Technology)<br>| 32402 | &nbsp;&nbsp; 662 |
|  |  |  | &nbsp;&nbsp; 5456 |
|  | **Switzerland—4.0%** | **Switzerland—4.0%** | **Switzerland—4.0%** |
|  | &nbsp;&nbsp;&nbsp; Galenica AG <br>(Health Care Providers & Services)<br>| 11931 | &nbsp;&nbsp; 1358 |
|  | &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. <br>(Auto Components)<br>| 40905 | &nbsp;&nbsp; 743 |
|  | &nbsp;&nbsp;&nbsp; Kardex Holding AG <br>(Machinery)<br>| 4353 | &nbsp;&nbsp; 1310 |
|  | &nbsp;&nbsp;&nbsp; Medacta Group SA <br>(Health Care Equipment & Supplies)<br>| 6480 | &nbsp;&nbsp; 1225 |
|  | &nbsp;&nbsp;&nbsp; Tecan Group AG <br>(Life Sciences Tools & Services)<br>| 2782 | &nbsp;&nbsp; 474 |
|  |  |  | &nbsp;&nbsp; 5110 |
|  | **Total Europe Ex-U.K.** |  | &nbsp;&nbsp; 34877 |
|  | ***Emerging Asia—21.0%*** |  |  |
|  | **China—2.1%** | **China—2.1%** | **China—2.1%** |
|  | &nbsp;&nbsp;&nbsp; Airtac International Group <br>(Machinery)<br>| 21000 | &nbsp;&nbsp; 669 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi XDC Cayman Inc. <br>(Life Sciences Tools & Services)<br>| 106000 | &nbsp;&nbsp; 804 |
|  | &nbsp;&nbsp;&nbsp; Yutong Bus Co. Ltd. <br>(Machinery)<br>| 229500 | &nbsp;&nbsp; 1197 |
|  |  |  | &nbsp;&nbsp; 2670 |

---

See accompanying Notes to Portfolio of Investments.

**33**

------

**International Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **India—3.4%** | **India—3.4%** | **India—3.4%** |
|  | &nbsp;&nbsp;&nbsp; AU Small Finance Bank Ltd. <br>(Banks)<br>| 105032 | &nbsp;&nbsp; $939 |
|  | &nbsp;&nbsp;&nbsp; Cholamandalam Financial Holdings <br> Limited <br>(Consumer Finance)<br>| 28895 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 13726 | &nbsp;&nbsp; 536 |
|  | &nbsp;&nbsp;&nbsp; Gillette India Ltd. <br>(Personal Care Products)<br>| 1586 | &nbsp;&nbsp; 122 |
| \* <br>| &nbsp;&nbsp;&nbsp; GMR Airports Infrastructure Ltd. <br>(Transportation Infrastructure)<br>| 429515 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp; Hitachi Energy India Ltd <br>(Electrical Equipment)<br>| 2838 | &nbsp;&nbsp; 738 |
|  | &nbsp;&nbsp;&nbsp; Home First Finance Co. India Ltd. <br>(Financial Services)<br>| 43183 | &nbsp;&nbsp; 419 |
|  | &nbsp;&nbsp;&nbsp; KFin Technologies Ltd. <br>(Capital Markets)<br>| 75265 | &nbsp;&nbsp; 701 |
|  |  |  | &nbsp;&nbsp; 4260 |
|  | **South Korea—3.8%** | **South Korea—3.8%** | **South Korea—3.8%** |
|  | &nbsp;&nbsp;&nbsp; DB Insurance Co., Ltd. <br>(Insurance)<br>| 4966 | &nbsp;&nbsp; 557 |
|  | &nbsp;&nbsp;&nbsp; Hansol Chemical Co., Ltd. <br>(Chemicals)<br>| 6130 | &nbsp;&nbsp; 1051 |
| \* <br>| &nbsp;&nbsp;&nbsp; Hanwha Engine <br>(Machinery)<br>| 17044 | &nbsp;&nbsp; 512 |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Marine Solution Co., Ltd. <br>(Machinery)<br>| 6217 | &nbsp;&nbsp; 768 |
| \* <br>| &nbsp;&nbsp;&nbsp; HD-Hyundai Marine Engine Co., Ltd. <br>(Machinery)<br>| 12760 | &nbsp;&nbsp; 607 |
|  | &nbsp;&nbsp;&nbsp; JB Financial Group Co. Ltd. <br>(Banks)<br>| 42392 | &nbsp;&nbsp; 870 |
|  | &nbsp;&nbsp;&nbsp; ST Pharm Co., Ltd. <br>(Pharmaceuticals)<br>| 4880 | &nbsp;&nbsp; 477 |
|  |  |  | &nbsp;&nbsp; 4842 |
|  | **Taiwan—11.3%** | **Taiwan—11.3%** | **Taiwan—11.3%** |
|  | &nbsp;&nbsp;&nbsp; Aspeed Technology Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 4000 | &nbsp;&nbsp; 1379 |
|  | &nbsp;&nbsp;&nbsp; Bizlink Holding Inc. <br>(Electrical Equipment)<br>| 17000 | &nbsp;&nbsp; 976 |
|  | &nbsp;&nbsp;&nbsp; Chroma ATE, Inc. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 36000 | &nbsp;&nbsp; 1728 |
|  | &nbsp;&nbsp;&nbsp; Fositek Corp. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 20000 | &nbsp;&nbsp; 1159 |
|  | &nbsp;&nbsp;&nbsp; Grand Process Technology Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 12000 | &nbsp;&nbsp; 1080 |
|  | &nbsp;&nbsp;&nbsp; Hon. Precision, Inc <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 9428 | &nbsp;&nbsp; 1043 |
|  | &nbsp;&nbsp;&nbsp; Innodisk Corp. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 42000 | &nbsp;&nbsp; 1155 |
|  | &nbsp;&nbsp;&nbsp; Jentech Precision Industrial Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 14000 | &nbsp;&nbsp; 1760 |

---

---

| | | |
|:---|:---|:---|
| <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
| ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
| ***Emerging Asia—(continued)*** |  |  |
| **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
| &nbsp;&nbsp;&nbsp; Kinik Company <br>(Machinery)<br>| 48000 | &nbsp;&nbsp; $665 |
| &nbsp;&nbsp;&nbsp; Marketech International Corp. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 72000 | &nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp; Taiwan Union Technology Corporation <br>(Electronic Equipment, Instruments & <br> Components)<br>| 59000 | &nbsp;&nbsp; 1101 |
| &nbsp;&nbsp;&nbsp; WinWay Technology Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 7000 | &nbsp;&nbsp; 1656 |
|  |  | &nbsp;&nbsp; 14340 |
| **Thailand—0.4%** | **Thailand—0.4%** | **Thailand—0.4%** |
| &nbsp;&nbsp;&nbsp; Com7 PCL <br>(Specialty Retail)<br>| 799000 | &nbsp;&nbsp; 535 |
| **Total Emerging Asia** |  | &nbsp;&nbsp; 26647 |
| ***Japan—18.7%*** |  |  |
| &nbsp;&nbsp;&nbsp; Anritsu Corporation <br>(Electronic Equipment, Instruments & <br> Components)<br>| 45600 | &nbsp;&nbsp; 828 |
| &nbsp;&nbsp;&nbsp; Asahi Intecc Co., Ltd. <br>(Health Care Equipment & Supplies)<br>| 66300 | &nbsp;&nbsp; 1416 |
| &nbsp;&nbsp;&nbsp; C. Uyemura & Co., Ltd. <br>(Chemicals)<br>| 4900 | &nbsp;&nbsp; 625 |
| &nbsp;&nbsp;&nbsp; Fujimi Incorporated <br>(Chemicals)<br>| 27900 | &nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp; Fukuoka Financial Group, Inc. <br>(Banks)<br>| 34200 | &nbsp;&nbsp; 1310 |
| &nbsp;&nbsp;&nbsp; Fuso Chemical Co.,Ltd. <br>(Chemicals)<br>| 37500 | &nbsp;&nbsp; 669 |
| &nbsp;&nbsp;&nbsp; Integral Corporation <br>(Capital Markets)<br>| 34200 | &nbsp;&nbsp; 695 |
| &nbsp;&nbsp;&nbsp; Internet Initiative Japan, Inc. <br>(Diversified Telecommunication <br> Services)<br>| 52700 | &nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; Japan Elevator Service Holdings Co. Ltd. <br>(Commercial Services & Supplies)<br>| 108100 | &nbsp;&nbsp; 1118 |
| &nbsp;&nbsp;&nbsp; JMDC Inc. <br>(Health Care Technology)<br>| 20700 | &nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp; Katitas Co., Ltd <br>(Real Estate Management & <br> Development)<br>| 46100 | &nbsp;&nbsp; 924 |
| &nbsp;&nbsp;&nbsp; Koito Manufacturing Co., Ltd. <br>(Auto Components)<br>| 38000 | &nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; Kokusai Electric Corp. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 26700 | &nbsp;&nbsp; 903 |
| &nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. <br>(Machinery)<br>| 20200 | &nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp; MISUMI Group Inc. <br>(Machinery)<br>| 34300 | &nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. <br>(Trading Companies & Distributors)<br>| 65900 | &nbsp;&nbsp; 714 |
| &nbsp;&nbsp;&nbsp; NIFCO INC. <br>(Auto Components)<br>| 20200 | &nbsp;&nbsp; 573 |
| &nbsp;&nbsp;&nbsp; Oracle Corporation Japan <br>(Software)<br>| 10800 | &nbsp;&nbsp; 588 |

---

See accompanying Notes to Portfolio of Investments.

**34**

------

**International Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Japan—(continued)*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Organo Corporation <br>(Machinery)<br>| 15000 | &nbsp;&nbsp; $1355 |
| \* <br>| &nbsp;&nbsp;&nbsp; Rakuten Bank Ltd. <br>(Banks)<br>| 39500 | &nbsp;&nbsp; 1444 |
|  | &nbsp;&nbsp;&nbsp; Rorze Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 36400 | &nbsp;&nbsp; 626 |
|  | &nbsp;&nbsp;&nbsp; Shibaura Mechatronics Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 30700 | &nbsp;&nbsp; 816 |
|  | &nbsp;&nbsp;&nbsp; SKY Perfect JSAT Holdings Inc. <br>(Media)<br>| 76600 | &nbsp;&nbsp; 1452 |
|  | &nbsp;&nbsp;&nbsp; Sumitomo Rubber Industries, Ltd. <br>(Auto Components)<br>| 46100 | &nbsp;&nbsp; 608 |
|  | &nbsp;&nbsp;&nbsp; SWCC Corporation <br>(Electrical Equipment)<br>| 11700 | &nbsp;&nbsp; 942 |
|  | &nbsp;&nbsp;&nbsp; The Gunma Bank, Ltd. <br>(Banks)<br>| 46500 | &nbsp;&nbsp; 620 |
|  | &nbsp;&nbsp;&nbsp; Tokyo Ohka Kogyo Co., Ltd. <br>(Chemicals)<br>| 12500 | &nbsp;&nbsp; 612 |
|  | &nbsp;&nbsp;&nbsp; Tokyotokeiba Co., Ltd. <br>(Hotels, Restaurants & Leisure)<br>| 15200 | &nbsp;&nbsp; 551 |
|  | &nbsp;&nbsp;&nbsp; Totech Corporation <br>(Trading Companies & Distributors)<br>| 21300 | &nbsp;&nbsp; 503 |
|  | **Total Japan** |  | &nbsp;&nbsp; 23789 |
|  | ***Emerging Latin America—8.7%*** |  |  |
|  | **Brazil—1.2%** | **Brazil—1.2%** | **Brazil—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Cury Construtora e Incorporadora SA <br>(Household Durables)<br>| 96800 | &nbsp;&nbsp; 661 |
|  | &nbsp;&nbsp;&nbsp; Inter & Co, Inc. <br>(Banks)<br>| 111329 | &nbsp;&nbsp; 887 |
|  |  |  | &nbsp;&nbsp; 1548 |
|  | **Chile—0.5%** | **Chile—0.5%** | **Chile—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Enel Chile S.A. <br>(Electric Utilities)<br>| 7955712 | &nbsp;&nbsp; 614 |
|  | **Mexico—4.5%** | **Mexico—4.5%** | **Mexico—4.5%** |
|  | &nbsp;&nbsp;&nbsp; Arca Continental S.A.B. de C.V. <br>(Beverages)<br>| 115000 | &nbsp;&nbsp; 1325 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte <br> S.A.B. de C.V. <br>(Transportation Infrastructure)<br>| 82300 | &nbsp;&nbsp; 1180 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste S.A.B. de <br> C.V. <br>(Transportation Infrastructure)<br>| 36890 | &nbsp;&nbsp; 1244 |
|  | &nbsp;&nbsp;&nbsp; Prologis Property Mexico SA de CV REIT <br>(Industrial REITs)<br>| 317667 | &nbsp;&nbsp; 1387 |
|  | &nbsp;&nbsp;&nbsp; Qualitas Controladora S.A.B. de C.V. <br>(Insurance)<br>| 68500 | &nbsp;&nbsp; 657 |
|  |  |  | &nbsp;&nbsp; 5793 |
|  | **Panama—0.7%** | **Panama—0.7%** | **Panama—0.7%** |
|  | &nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio <br> Exterior, S.A. <br>(Financial Services)<br>| 16816 | &nbsp;&nbsp; 859 |
|  | **Peru—0.9%** | **Peru—0.9%** | **Peru—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Intercorp Financial Services Inc <br>(Banks)<br>| 23071 | &nbsp;&nbsp; 1158 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **United States—0.9%** | **United States—0.9%** | **United States—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Aura Minerals Inc. <br>(Metals & Mining)<br>| 13936 | &nbsp;&nbsp; $1137 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 11109 |
|  | ***Western Hemisphere—7.4%*** |  |  |
|  | **Canada—7.4%** | **Canada—7.4%** | **Canada—7.4%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Aris Mining Corporation <br>(Metals & Mining)<br>| 56030 | &nbsp;&nbsp; 1040 |
|  | &nbsp;&nbsp;&nbsp; Boyd Group Services, Inc. <br>(Commercial Services & Supplies)<br>| 6918 | &nbsp;&nbsp; 883 |
|  | &nbsp;&nbsp;&nbsp; CES Energy Solutions Corp. <br>(Energy Equipment & Services)<br>| 122878 | &nbsp;&nbsp; 1626 |
|  | &nbsp;&nbsp;&nbsp; Definity Financial Corp. <br>(Insurance)<br>| 30331 | &nbsp;&nbsp; 1428 |
|  | &nbsp;&nbsp;&nbsp; Exchange Income Corporation <br>(Airlines)<br>| 11019 | &nbsp;&nbsp; 827 |
| \* <br>| &nbsp;&nbsp;&nbsp; K92 Mining Inc. <br>(Metals & Mining)<br>| 64498 | &nbsp;&nbsp; 1095 |
| \* <br>| &nbsp;&nbsp;&nbsp; MDA Space Ltd. <br>(Aerospace & Defense)<br>| 30976 | &nbsp;&nbsp; 785 |
|  | &nbsp;&nbsp;&nbsp; North West Co., Inc. <br>(Consumer Staples Distribution & <br> Retail)<br>| 16963 | &nbsp;&nbsp; 665 |
|  | &nbsp;&nbsp;&nbsp; Peyto Exploration & Development Corp. <br>(Oil, Gas & Consumable Fuels)<br>| 53144 | &nbsp;&nbsp; 1038 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 9387 |
|  | ***United Kingdom—6.8%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; CVS Group plc <br>(Health Care Providers & Services)<br>| 35592 | &nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp; Diploma PLC <br>(Trading Companies & Distributors)<br>| 15641 | &nbsp;&nbsp; 1249 |
|  | &nbsp;&nbsp;&nbsp; Hill & Smith PLC <br>(Metals & Mining)<br>| 41324 | &nbsp;&nbsp; 1158 |
|  | &nbsp;&nbsp;&nbsp; QinetiQ Group PLC <br>(Aerospace & Defense)<br>| 105680 | &nbsp;&nbsp; 640 |
|  | &nbsp;&nbsp;&nbsp; Renishaw PLC <br>(Electronic Equipment, Instruments & <br> Components)<br>| 16613 | &nbsp;&nbsp; 785 |
|  | &nbsp;&nbsp;&nbsp; Rotork PLC <br>(Machinery)<br>| 333322 | &nbsp;&nbsp; 1386 |
|  | &nbsp;&nbsp;&nbsp; Volution Group PLC <br>(Building Products)<br>| 165191 | &nbsp;&nbsp; 1251 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zegona Communications plc <br>(Diversified Telecommunication <br> Services)<br>| 76720 | &nbsp;&nbsp; 1688 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 8689 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—5.4%*** |  |  |
|  | **Greece—0.8%** | **Greece—0.8%** | **Greece—0.8%** |
|  | &nbsp;&nbsp;&nbsp; JUMBO SA <br>(Specialty Retail)<br>| 42093 | &nbsp;&nbsp; 1072 |

---

See accompanying Notes to Portfolio of Investments.

**35**

------

**International Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **Poland—1.3%** | **Poland—1.3%** | **Poland—1.3%** |
|  | &nbsp;&nbsp;&nbsp; Orange Polska Spolka Akcyjna <br>(Diversified Telecommunication <br> Services)<br>| 161397 | &nbsp;&nbsp; $617 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zabka Group <br>(Consumer Staples Distribution & <br> Retail)<br>| 173670 | &nbsp;&nbsp; 1039 |
|  |  |  | &nbsp;&nbsp; 1656 |
|  | **South Africa—0.9%** | **South Africa—0.9%** | **South Africa—0.9%** |
|  | &nbsp;&nbsp;&nbsp; AVI Limited <br>(Food Products)<br>| 97608 | &nbsp;&nbsp; 599 |
|  | &nbsp;&nbsp;&nbsp; OUTsurance Group Ltd. <br>(Insurance)<br>| 127943 | &nbsp;&nbsp; 526 |
|  |  |  | &nbsp;&nbsp; 1125 |
|  | **Turkey—1.6%** | **Turkey—1.6%** | **Turkey—1.6%** |
|  | &nbsp;&nbsp;&nbsp; ASELSAN Elektronik Sanayi ve Ticaret <br> A.S. <br>(Aerospace & Defense)<br>| 202296 | &nbsp;&nbsp; 1455 |
|  | &nbsp;&nbsp;&nbsp; Ford Otomotiv Sanayi A.S. <br>(Automobiles)<br>| 256481 | &nbsp;&nbsp; 586 |
|  |  |  | &nbsp;&nbsp; 2041 |
|  | **United Arab Emirates—0.8%** | **United Arab Emirates—0.8%** | **United Arab Emirates—0.8%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Abu Dhabi Ports Company PJSC <br>(Transportation Infrastructure)<br>| 473710 | &nbsp;&nbsp; 512 |
|  | &nbsp;&nbsp;&nbsp; Emaar Development PJSC <br>(Real Estate Management & <br> Development)<br>| 131517 | &nbsp;&nbsp; 498 |
|  |  |  | &nbsp;&nbsp; 1010 |
|  | **Total Emerging Europe, Mid-East,** <br> **Africa**<br>|  | &nbsp;&nbsp; 6904 |
|  | ***Asia Ex-Japan—1.7%*** |  |  |
|  | **Australia—1.7%** | **Australia—1.7%** | **Australia—1.7%** |
|  | &nbsp;&nbsp;&nbsp; Capricorn Metals Ltd <br>(Metals & Mining)<br>| 103116 | &nbsp;&nbsp; 815 |
| \* <br>| &nbsp;&nbsp;&nbsp; Emerald Resources NL <br>(Metals & Mining)<br>| 123262 | &nbsp;&nbsp; 473 |
|  | &nbsp;&nbsp;&nbsp; Steadfast Group Ltd. <br>(Insurance)<br>| 308981 | &nbsp;&nbsp; 910 |
|  | **Total Asia Ex-Japan** |  | &nbsp;&nbsp; 2198 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—97.1%** <br>(cost $105,618)<br>|  | &nbsp;&nbsp; 123600 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $2,563, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $2,614<br>| $2563 | &nbsp;&nbsp; $2563 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—2.0%** <br>(cost $2,563)<br>|  | &nbsp;&nbsp; 2563 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.1%** <br>(cost $108,181)<br>|  | &nbsp;&nbsp; 126163 |
| **Cash and other assets,** <br>**less liabilities—0.9%**<br>|  | &nbsp;&nbsp; 1090 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $127253 |

---

------

PLC Public Limited Company <br> REIT Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security

See accompanying Notes to Portfolio of Investments.

**36**

------

**International Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $22981 | &nbsp;&nbsp; $100619 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $123600 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 2563 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2563 |
| **Total Investments in Securities** | $22981 | &nbsp;&nbsp; $103182 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $126163 |

---

See accompanying Notes to Portfolio of Investments.

**37**

------

**Emerging Markets Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Emerging Asia—68.6%*** |  |  |
|  | **China—17.9%** | **China—17.9%** | **China—17.9%** |
|  | &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. <br>(Broadline Retail)<br>| 176328 | &nbsp;&nbsp; $2764 |
|  | &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. <br> Ltd. <br>(Electrical Equipment)<br>| 48220 | &nbsp;&nbsp; 2862 |
|  | &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd. <br>(Auto Components)<br>| 227500 | &nbsp;&nbsp; 1903 |
| \* <br>| &nbsp;&nbsp;&nbsp; JD Health International Inc. <br>(Consumer Staples Distribution & Retail)<br>| 127600 | &nbsp;&nbsp; 779 |
|  | &nbsp;&nbsp;&nbsp; NetEase, Inc. <br>(Entertainment)<br>| 68700 | &nbsp;&nbsp; 1535 |
|  | &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Company of <br> China, Ltd. <br>(Insurance)<br>| 144800 | &nbsp;&nbsp; 1203 |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 63900 | &nbsp;&nbsp; 4030 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi XDC Cayman Inc. <br>(Life Sciences Tools & Services)<br>| 232000 | &nbsp;&nbsp; 1760 |
|  |  |  | &nbsp;&nbsp; 16836 |
|  | **India—14.0%** | **India—14.0%** | **India—14.0%** |
|  | &nbsp;&nbsp;&nbsp; Bajaj Finance Limited <br>(Consumer Finance)<br>| 154075 | &nbsp;&nbsp; 1319 |
|  | &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 369100 | &nbsp;&nbsp; 1583 |
|  | &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication Services)<br>| 110021 | &nbsp;&nbsp; 2099 |
|  | &nbsp;&nbsp;&nbsp; CG Power & Industrial Solutions Ltd. <br>(Electrical Equipment)<br>| 65308 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp; Eicher Motors Limited <br>(Automobiles)<br>| 13266 | &nbsp;&nbsp; 931 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 17361 | &nbsp;&nbsp; 677 |
| \* <br>| &nbsp;&nbsp;&nbsp; GMR Airports Infrastructure Ltd. <br>(Transportation Infrastructure)<br>| 1214894 | &nbsp;&nbsp; 1087 |
|  | &nbsp;&nbsp;&nbsp; HDFC Bank Ltd. <br>(Banks)<br>| 170327 | &nbsp;&nbsp; 1341 |
|  | &nbsp;&nbsp;&nbsp; Macrotech Developers Ltd. <br>(Real Estate Management & <br> Development)<br>| 124651 | &nbsp;&nbsp; 904 |
|  | &nbsp;&nbsp;&nbsp; Marico Limited <br>(Food Products)<br>| 135473 | &nbsp;&nbsp; 1052 |
|  | &nbsp;&nbsp;&nbsp; Max Healthcare Institute Ltd. <br>(Health Care Providers & Services)<br>| 87166 | &nbsp;&nbsp; 892 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zomato Ltd. <br>(Hotels, Restaurants & Leisure)<br>| 345817 | &nbsp;&nbsp; 852 |
|  |  |  | &nbsp;&nbsp; 13191 |
|  | **Indonesia—1.9%** | **Indonesia—1.9%** | **Indonesia—1.9%** |
|  | &nbsp;&nbsp;&nbsp; Bank Central Asia Tbk. PT <br>(Banks)<br>| 1977100 | &nbsp;&nbsp; 763 |
| \* <br>| &nbsp;&nbsp;&nbsp; Grab Holdings Limited <br>(Road & Rail)<br>| 275659 | &nbsp;&nbsp; 1009 |
|  |  |  | &nbsp;&nbsp; 1772 |
|  | **South Korea—13.8%** | **South Korea—13.8%** | **South Korea—13.8%** |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Marine Solution Co., Ltd. <br>(Machinery)<br>| 9354 | &nbsp;&nbsp; 1155 |
|  | &nbsp;&nbsp;&nbsp; HD Korea Shipbuilding & Offshore <br> Engineering Co., Ltd. <br>(Machinery)<br>| 3564 | &nbsp;&nbsp; 826 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **South Korea—(continued)** | **South Korea—(continued)** | **South Korea—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Kakao Corp. <br>(Interactive Media & Services)<br>| 35270 | &nbsp;&nbsp; $1089 |
| \* <br>| &nbsp;&nbsp;&nbsp; Samsung Biologics Co.,Ltd. <br>(Life Sciences Tools & Services)<br>| 1118 | &nbsp;&nbsp; 1146 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 43272 | &nbsp;&nbsp; 5061 |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 6573 | &nbsp;&nbsp; 3729 |
|  |  |  | &nbsp;&nbsp; 13006 |
|  | **Taiwan—21.0%** | **Taiwan—21.0%** | **Taiwan—21.0%** |
|  | &nbsp;&nbsp;&nbsp; Ase Technology Holding Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 119000 | &nbsp;&nbsp; 1310 |
|  | &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 221000 | &nbsp;&nbsp; 1351 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 147000 | &nbsp;&nbsp; 8502 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 22621 | &nbsp;&nbsp; 7645 |
|  | &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 69000 | &nbsp;&nbsp; 1009 |
|  |  |  | &nbsp;&nbsp; 19817 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 64622 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—13.8%*** |  |  |
|  | **Czech Republic—0.8%** | **Czech Republic—0.8%** | **Czech Republic—0.8%** |
| \* <br>| &nbsp;&nbsp;&nbsp; CSG N.V. <br>(Aerospace & Defense)<br>| 29090 | &nbsp;&nbsp; 785 |
|  | **Greece—1.4%** | **Greece—1.4%** | **Greece—1.4%** |
|  | &nbsp;&nbsp;&nbsp; Eurobank S.A. <br>(Banks)<br>| 340826 | &nbsp;&nbsp; 1364 |
|  | **Poland—2.0%** | **Poland—2.0%** | **Poland—2.0%** |
|  | &nbsp;&nbsp;&nbsp; PKO Bank Polski S.A. <br>(Banks)<br>| 45672 | &nbsp;&nbsp; 1080 |
| \* <br>| &nbsp;&nbsp;&nbsp; Zabka Group <br>(Consumer Staples Distribution & Retail)<br>| 141452 | &nbsp;&nbsp; 847 |
|  |  |  | &nbsp;&nbsp; 1927 |
|  | **South Africa—8.0%** | **South Africa—8.0%** | **South Africa—8.0%** |
|  | &nbsp;&nbsp;&nbsp; AngloGold Ashanti plc <br>(Metals & Mining)<br>| 9806 | &nbsp;&nbsp; 979 |
|  | &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. <br>(Banks)<br>| 3929 | &nbsp;&nbsp; 965 |
|  | &nbsp;&nbsp;&nbsp; Clicks Group Ltd. <br>(Consumer Staples Distribution & Retail)<br>| 40108 | &nbsp;&nbsp; 691 |
|  | &nbsp;&nbsp;&nbsp; FirstRand Limited <br>(Financial Services)<br>| 249919 | &nbsp;&nbsp; 1279 |

---

See accompanying Notes to Portfolio of Investments.

**38**

------

**Emerging Markets Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **South Africa—(continued)** | **South Africa—(continued)** | **South Africa—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Gold Fields Limited <br>(Metals & Mining)<br>| 30001 | &nbsp;&nbsp; $1379 |
|  | &nbsp;&nbsp;&nbsp; Naspers Limited <br>(Broadline Retail)<br>| 42528 | &nbsp;&nbsp; 2200 |
|  |  |  | &nbsp;&nbsp; 7493 |
|  | **United Arab Emirates—1.6%** | **United Arab Emirates—1.6%** | **United Arab Emirates—1.6%** |
|  | &nbsp;&nbsp;&nbsp; Aldar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 388049 | &nbsp;&nbsp; 839 |
|  | &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC <br>(Banks)<br>| 84679 | &nbsp;&nbsp; 638 |
|  |  |  | &nbsp;&nbsp; 1477 |
|  | **Total Emerging Europe, Mid-East, Africa** |  | &nbsp;&nbsp; 13046 |
|  | ***Emerging Latin America—12.7%*** |  |  |
|  | **Brazil—8.3%** | **Brazil—8.3%** | **Brazil—8.3%** |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 123000 | &nbsp;&nbsp; 1827 |
|  | &nbsp;&nbsp;&nbsp; Inter & Co, Inc. <br>(Banks)<br>| 122525 | &nbsp;&nbsp; 975 |
|  | &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA—ADR <br>(Banks)<br>| 98317 | &nbsp;&nbsp; 824 |
| \* <br>| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. <br>(Broadline Retail)<br>| 392 | &nbsp;&nbsp; 678 |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd. <br>(Banks)<br>| 175762 | &nbsp;&nbsp; 2526 |
|  | &nbsp;&nbsp;&nbsp; Telefonica Brasil S.A. <br>(Diversified Telecommunication Services)<br>| 131000 | &nbsp;&nbsp; 1043 |
|  |  |  | &nbsp;&nbsp; 7873 |
|  | **Chile—1.3%** | **Chile—1.3%** | **Chile—1.3%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 27435 | &nbsp;&nbsp; 1230 |
|  | **Mexico—3.1%** | **Mexico—3.1%** | **Mexico—3.1%** |
|  | &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V. <br>(Banks)<br>| 102000 | &nbsp;&nbsp; 1130 |
| \* <br>| &nbsp;&nbsp;&nbsp; Vista Energy, S.A.B. de C.V.—ADR <br>(Oil, Gas & Consumable Fuels)<br>| 23458 | &nbsp;&nbsp; 1770 |
|  |  |  | &nbsp;&nbsp; 2900 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 12003 |
|  | ***Asia Ex-Japan—1.6%*** |  |  |
|  | **Hong Kong—1.6%** | **Hong Kong—1.6%** | **Hong Kong—1.6%** |
|  | &nbsp;&nbsp;&nbsp; AIA Group Ltd. <br>(Insurance)<br>| 133600 | &nbsp;&nbsp; 1484 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—96.7%** <br>(cost $76,019)<br>|  | &nbsp;&nbsp; 91155 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $1,797, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $1,833<br>| $1797 | &nbsp;&nbsp; $1797 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—1.9%** <br>(cost $1,797)<br>|  | &nbsp;&nbsp; 1797 |
| &nbsp;&nbsp;&nbsp; **Total Investments—98.6%** <br>(cost $77,816)<br>|  | &nbsp;&nbsp; 92952 |
| **Cash and other assets,** <br>**less liabilities—1.4%**<br>|  | &nbsp;&nbsp; 1274 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $94226 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security

See accompanying Notes to Portfolio of Investments.

**39**

------

**Emerging Markets Leaders Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $20212 | &nbsp;&nbsp; $70943 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $91155 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 1797 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1797 |
| **Total Investments in Securities** | $20212 | &nbsp;&nbsp; $72740 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $92952 |

---

See accompanying Notes to Portfolio of Investments.

**40**

------

**Emerging Markets Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Emerging Asia—75.2%*** |  |  |
|  | **China—17.5%** | **China—17.5%** | **China—17.5%** |
|  | &nbsp;&nbsp;&nbsp; Airtac International Group <br>(Machinery)<br>| 72000 | &nbsp;&nbsp; $2293 |
|  | &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. <br>(Broadline Retail)<br>| 2222700 | &nbsp;&nbsp; 34840 |
| \* <br>| &nbsp;&nbsp;&nbsp; BeOne Medicines Ltd <br>(Biotechnology)<br>| 130600 | &nbsp;&nbsp; 2930 |
|  | &nbsp;&nbsp;&nbsp; China Life Insurance Company Limited <br>(Insurance)<br>| 1194000 | &nbsp;&nbsp; 3809 |
|  | &nbsp;&nbsp;&nbsp; CMOC Group Limited <br>(Metals & Mining)<br>| 1437000 | &nbsp;&nbsp; 3022 |
|  | &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. <br> Ltd. <br>(Electrical Equipment)<br>| 251471 | &nbsp;&nbsp; 14923 |
|  | &nbsp;&nbsp;&nbsp; Hansoh Pharmaceutical Group Company <br> Limited <br>(Pharmaceuticals)<br>| 644000 | &nbsp;&nbsp; 2948 |
| \* <br>| &nbsp;&nbsp;&nbsp; JD Health International Inc. <br>(Consumer Staples Distribution & <br> Retail)<br>| 589200 | &nbsp;&nbsp; 3596 |
|  | &nbsp;&nbsp;&nbsp; Jiangsu Hengli Hydraulic Co., Ltd. <br>(Machinery)<br>| 223800 | &nbsp;&nbsp; 3164 |
| \* <br>| &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co.,Ltd <br>(Pharmaceuticals)<br>| 397000 | &nbsp;&nbsp; 3306 |
| \* <br>| &nbsp;&nbsp;&nbsp; MiniMax Group Inc. <br>(Software)<br>| 28360 | &nbsp;&nbsp; 3362 |
|  | &nbsp;&nbsp;&nbsp; NetEase, Inc. <br>(Entertainment)<br>| 351900 | &nbsp;&nbsp; 7863 |
|  | &nbsp;&nbsp;&nbsp; Neway Valve (Suzhou) Co., Ltd. <br>(Machinery)<br>| 421300 | &nbsp;&nbsp; 2989 |
|  | &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Company of <br> China, Ltd. <br>(Insurance)<br>| 587000 | &nbsp;&nbsp; 4513 |
|  | &nbsp;&nbsp;&nbsp; Shenzhen Inovance Technology Co. Ltd. <br>(Machinery)<br>| 271900 | &nbsp;&nbsp; 2672 |
|  | &nbsp;&nbsp;&nbsp; Sieyuan Electric Co., Ltd. <br>(Electrical Equipment)<br>| 149200 | &nbsp;&nbsp; 4426 |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 816460 | &nbsp;&nbsp; 51496 |
|  | &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd. <br>(Machinery)<br>| 1581000 | &nbsp;&nbsp; 5606 |
|  | &nbsp;&nbsp;&nbsp; WUS Printed Circuit Kunshan Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 262150 | &nbsp;&nbsp; 2978 |
|  | &nbsp;&nbsp;&nbsp; WuXi AppTec Co., Ltd. <br>(Life Sciences Tools & Services)<br>| 319000 | &nbsp;&nbsp; 4886 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi XDC Cayman Inc. <br>(Life Sciences Tools & Services)<br>| 468000 | &nbsp;&nbsp; 3550 |
|  | &nbsp;&nbsp;&nbsp; Zijin Mining Group Company Limited <br>(Metals & Mining)<br>| 1138000 | &nbsp;&nbsp; 5119 |
|  |  |  | &nbsp;&nbsp; 174291 |
|  | **India—10.9%** | **India—10.9%** | **India—10.9%** |
|  | &nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. <br>(Health Care Providers & Services)<br>| 31040 | &nbsp;&nbsp; 2479 |
|  | &nbsp;&nbsp;&nbsp; Ashok Leyland Limited <br>(Machinery)<br>| 1643434 | &nbsp;&nbsp; 2703 |
|  | &nbsp;&nbsp;&nbsp; Bajaj Finance Limited <br>(Consumer Finance)<br>| 647884 | &nbsp;&nbsp; 5547 |

---

---

| | | |
|:---|:---|:---|
| <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
| ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
| ***Emerging Asia—(continued)*** |  |  |
| **India—(continued)** | **India—(continued)** | **India—(continued)** |
| &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 1459881 | &nbsp;&nbsp; $6262 |
| &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication Services)<br>| 507578 | &nbsp;&nbsp; 9682 |
| &nbsp;&nbsp;&nbsp; Cummins India Ltd. <br>(Machinery)<br>| 59249 | &nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp; Eicher Motors Limited <br>(Automobiles)<br>| 62374 | &nbsp;&nbsp; 4378 |
| &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 100093 | &nbsp;&nbsp; 3904 |
| &nbsp;&nbsp;&nbsp; HDFC Asset Management Co. Ltd. <br>(Capital Markets)<br>| 134946 | &nbsp;&nbsp; 3167 |
| &nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. <br>(Aerospace & Defense)<br>| 70805 | &nbsp;&nbsp; 2623 |
| &nbsp;&nbsp;&nbsp; Hitachi Energy India Ltd <br>(Electrical Equipment)<br>| 14967 | &nbsp;&nbsp; 3892 |
| &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. <br>(Banks)<br>| 450429 | &nbsp;&nbsp; 5810 |
| &nbsp;&nbsp;&nbsp; Larsen & Toubro Limited <br>(Construction & Engineering)<br>| 169112 | &nbsp;&nbsp; 6289 |
| &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. <br>(Automobiles)<br>| 102307 | &nbsp;&nbsp; 3219 |
| &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India <br> Limited <br>(Capital Markets)<br>| 99686 | &nbsp;&nbsp; 2548 |
| &nbsp;&nbsp;&nbsp; Polycab India Limited <br>(Electrical Equipment)<br>| 38615 | &nbsp;&nbsp; 2820 |
| &nbsp;&nbsp;&nbsp; Radico Khaitan Ltd. <br>(Beverages)<br>| 65148 | &nbsp;&nbsp; 1803 |
| &nbsp;&nbsp;&nbsp; Reliance Industries Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 769439 | &nbsp;&nbsp; 11102 |
| &nbsp;&nbsp;&nbsp; Shriram Finance Limited <br>(Consumer Finance)<br>| 419731 | &nbsp;&nbsp; 3893 |
| &nbsp;&nbsp;&nbsp; Solar Industries India Limited <br>(Chemicals)<br>| 22143 | &nbsp;&nbsp; 2828 |
| &nbsp;&nbsp;&nbsp; State Bank of India <br>(Banks)<br>| 829427 | &nbsp;&nbsp; 8663 |
| &nbsp;&nbsp;&nbsp; Titan Company Limited <br>(Textiles, Apparel & Luxury Goods)<br>| 70106 | &nbsp;&nbsp; 2948 |
| &nbsp;&nbsp;&nbsp; Torrent Pharmaceuticals Limited <br>(Pharmaceuticals)<br>| 73135 | &nbsp;&nbsp; 3263 |
| &nbsp;&nbsp;&nbsp; TVS Motor Co. Ltd. <br>(Automobiles)<br>| 110343 | &nbsp;&nbsp; 3961 |
| &nbsp;&nbsp;&nbsp; UNO Minda Ltd. <br>(Auto Components)<br>| 210507 | &nbsp;&nbsp; 2301 |
|  |  | &nbsp;&nbsp; 108894 |
| **Philippines—1.0%** | **Philippines—1.0%** | **Philippines—1.0%** |
| &nbsp;&nbsp;&nbsp; BDO Unibank, Inc. <br>(Banks)<br>| 1530789 | &nbsp;&nbsp; 2880 |
| &nbsp;&nbsp;&nbsp; International Container Terminal Services, <br> Inc. <br>(Transportation Infrastructure)<br>| 618890 | &nbsp;&nbsp; 7017 |
|  |  | &nbsp;&nbsp; 9897 |
| **South Korea—18.1%** | **South Korea—18.1%** | **South Korea—18.1%** |
| &nbsp;&nbsp;&nbsp; Hanwha Aerospace Co. Ltd. <br>(Aerospace & Defense)<br>| 10542 | &nbsp;&nbsp; 8989 |
| &nbsp;&nbsp;&nbsp; HD Hyundai Electric Co. Ltd. <br>(Electrical Equipment)<br>| 13981 | &nbsp;&nbsp; 7923 |

---

See accompanying Notes to Portfolio of Investments.

**41**

------

**Emerging Markets Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **South Korea—(continued)** | **South Korea—(continued)** | **South Korea—(continued)** |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Heavy Industries Co., Ltd. <br>(Machinery)<br>| 21356 | &nbsp;&nbsp; $6841 |
|  | &nbsp;&nbsp;&nbsp; Hyosung Heavy Industries Corporation <br>(Electrical Equipment)<br>| 4610 | &nbsp;&nbsp; 7784 |
|  | &nbsp;&nbsp;&nbsp; Hyundai Rotem Company <br>(Machinery)<br>| 28584 | &nbsp;&nbsp; 3292 |
|  | &nbsp;&nbsp;&nbsp; KB Financial Group Inc. <br>(Banks)<br>| 93545 | &nbsp;&nbsp; 9183 |
|  | &nbsp;&nbsp;&nbsp; Korea Investment Holdings Co., Ltd. <br>(Capital Markets)<br>| 30804 | &nbsp;&nbsp; 4298 |
|  | &nbsp;&nbsp;&nbsp; LIG Nex1 Co., Ltd <br>(Aerospace & Defense)<br>| 7378 | &nbsp;&nbsp; 3045 |
|  | &nbsp;&nbsp;&nbsp; LS Electric Co., Ltd <br>(Electrical Equipment)<br>| 11969 | &nbsp;&nbsp; 5982 |
| \* <br>| &nbsp;&nbsp;&nbsp; Samsung Biologics Co.,Ltd. <br>(Life Sciences Tools & Services)<br>| 3599 | &nbsp;&nbsp; 3688 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electro-Mechanics Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 13265 | &nbsp;&nbsp; 3801 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 387400 | &nbsp;&nbsp; 45311 |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 62915 | &nbsp;&nbsp; 35696 |
| \* <br>| &nbsp;&nbsp;&nbsp; SK Square Co., Ltd. <br>(Industrial Conglomerates)<br>| 95688 | &nbsp;&nbsp; 31505 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi Biologics (Cayman) Inc. <br>(Life Sciences Tools & Services)<br>| 721000 | &nbsp;&nbsp; 3101 |
|  |  |  | &nbsp;&nbsp; 180439 |
|  | **Taiwan—27.3%** | **Taiwan—27.3%** | **Taiwan—27.3%** |
|  | &nbsp;&nbsp;&nbsp; Accton Technology Corp. <br>(Communications Equipment)<br>| 151000 | &nbsp;&nbsp; 7450 |
|  | &nbsp;&nbsp;&nbsp; Ase Technology Holding Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 741000 | &nbsp;&nbsp; 8156 |
|  | &nbsp;&nbsp;&nbsp; Asia Vital Components Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 140000 | &nbsp;&nbsp; 9247 |
|  | &nbsp;&nbsp;&nbsp; Aspeed Technology Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 37300 | &nbsp;&nbsp; 12857 |
|  | &nbsp;&nbsp;&nbsp; Chroma ATE, Inc. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 168000 | &nbsp;&nbsp; 8061 |
|  | &nbsp;&nbsp;&nbsp; Delta Electronics, Inc. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 465000 | &nbsp;&nbsp; 20967 |
|  | &nbsp;&nbsp;&nbsp; Elite Material Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 95000 | &nbsp;&nbsp; 8108 |
|  | &nbsp;&nbsp;&nbsp; Gold Circuit Electronics Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 214000 | &nbsp;&nbsp; 6034 |
|  | &nbsp;&nbsp;&nbsp; Hon. Precision, Inc <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 43371 | &nbsp;&nbsp; 4799 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Jentech Precision Industrial Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 36000 | &nbsp;&nbsp; $4527 |
|  | &nbsp;&nbsp;&nbsp; King Slide Works Co., Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 28000 | &nbsp;&nbsp; 2901 |
|  | &nbsp;&nbsp;&nbsp; King Yuan Electronics Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 421000 | &nbsp;&nbsp; 3601 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 501000 | &nbsp;&nbsp; 28975 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 398817 | &nbsp;&nbsp; 134780 |
|  | &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 604000 | &nbsp;&nbsp; 8838 |
|  | &nbsp;&nbsp;&nbsp; Wiwynn Corp. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 31000 | &nbsp;&nbsp; 3336 |
|  |  |  | &nbsp;&nbsp; 272637 |
|  | **Thailand—0.4%** | **Thailand—0.4%** | **Thailand—0.4%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Fabrinet <br>(Electronic Equipment, Instruments & <br> Components)<br>| 7571 | &nbsp;&nbsp; 3948 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 750106 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—11.1%*** |  |  |
|  | **Czech Republic—0.3%** | **Czech Republic—0.3%** | **Czech Republic—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Komercni banka, a.s. <br>(Banks)<br>| 60209 | &nbsp;&nbsp; 3072 |
|  | **Georgia—0.3%** | **Georgia—0.3%** | **Georgia—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Lion Finance Group PLC <br>(Banks)<br>| 26472 | &nbsp;&nbsp; 3286 |
|  | **Greece—1.8%** | **Greece—1.8%** | **Greece—1.8%** |
|  | &nbsp;&nbsp;&nbsp; Eurobank S.A. <br>(Banks)<br>| 2932859 | &nbsp;&nbsp; 11743 |
|  | &nbsp;&nbsp;&nbsp; Piraeus Bank S.A. <br>(Banks)<br>| 803033 | &nbsp;&nbsp; 6598 |
|  |  |  | &nbsp;&nbsp; 18341 |
|  | **Hungary—1.2%** | **Hungary—1.2%** | **Hungary—1.2%** |
|  | &nbsp;&nbsp;&nbsp; OTP Bank Nyrt. PLC <br>(Banks)<br>| 107598 | &nbsp;&nbsp; 11537 |
|  | **Kazakhstan—0.3%** | **Kazakhstan—0.3%** | **Kazakhstan—0.3%** |
|  | &nbsp;&nbsp;&nbsp; NAC Kazatomprom JSC <br>(Oil, Gas & Consumable Fuels)<br>| 38785 | &nbsp;&nbsp; 3063 |
|  | **Poland—0.3%** | **Poland—0.3%** | **Poland—0.3%** |
|  | &nbsp;&nbsp;&nbsp; PKO Bank Polski S.A. <br>(Banks)<br>| 137285 | &nbsp;&nbsp; 3247 |
|  | **Qatar—0.3%** | **Qatar—0.3%** | **Qatar—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Qatar National Bank (Q.P.S.C.) <br>(Banks)<br>| 570307 | &nbsp;&nbsp; 2668 |

---

See accompanying Notes to Portfolio of Investments.

**42**

------

**Emerging Markets Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **Romania—0.3%** | **Romania—0.3%** | **Romania—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Banca Transilvania SA <br>(Banks)<br>| 312043 | &nbsp;&nbsp; $2540 |
|  | **Saudi Arabia—0.5%** | **Saudi Arabia—0.5%** | **Saudi Arabia—0.5%** |
|  | &nbsp;&nbsp;&nbsp; The Saudi National Bank <br>(Banks)<br>| 440863 | &nbsp;&nbsp; 4977 |
|  | **South Africa—3.0%** | **South Africa—3.0%** | **South Africa—3.0%** |
|  | &nbsp;&nbsp;&nbsp; AngloGold Ashanti plc <br>(Metals & Mining)<br>| 59434 | &nbsp;&nbsp; 5932 |
|  | &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. <br>(Banks)<br>| 57136 | &nbsp;&nbsp; 14038 |
|  | &nbsp;&nbsp;&nbsp; Gold Fields Limited—ADR <br>(Metals & Mining)<br>| 102462 | &nbsp;&nbsp; 4652 |
|  | &nbsp;&nbsp;&nbsp; MTN Group Limited <br>(Wireless Telecommunication Services)<br>| 432623 | &nbsp;&nbsp; 5051 |
|  |  |  | &nbsp;&nbsp; 29673 |
|  | **Turkey—0.7%** | **Turkey—0.7%** | **Turkey—0.7%** |
|  | &nbsp;&nbsp;&nbsp; ASELSAN Elektronik Sanayi ve Ticaret <br> A.S. <br>(Aerospace & Defense)<br>| 1026666 | &nbsp;&nbsp; 7382 |
|  | **United Arab Emirates—2.1%** | **United Arab Emirates—2.1%** | **United Arab Emirates—2.1%** |
|  | &nbsp;&nbsp;&nbsp; Abu Dhabi Islamic Bank PJSC <br>(Banks)<br>| 779532 | &nbsp;&nbsp; 4485 |
|  | &nbsp;&nbsp;&nbsp; Aldar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 2039605 | &nbsp;&nbsp; 4408 |
|  | &nbsp;&nbsp;&nbsp; Emaar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 1274911 | &nbsp;&nbsp; 4172 |
|  | &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC <br>(Banks)<br>| 811449 | &nbsp;&nbsp; 6113 |
|  | &nbsp;&nbsp;&nbsp; Salik Co. PJSC <br>(Transportation Infrastructure)<br>| 1465235 | &nbsp;&nbsp; 2061 |
|  |  |  | &nbsp;&nbsp; 21239 |
|  | **Total Emerging Europe, Mid-East,** <br> **Africa**<br>|  | &nbsp;&nbsp; 111025 |
|  | ***Emerging Latin America—10.3%*** |  |  |
|  | **Brazil—5.4%** | **Brazil—5.4%** | **Brazil—5.4%** |
|  | &nbsp;&nbsp;&nbsp; B3 S.A. Brasil, Bolsa, Balcao B3 S.A. <br>(Capital Markets)<br>| 2362300 | &nbsp;&nbsp; 8391 |
| \* <br>| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA <br>(Capital Markets)<br>| 1225100 | &nbsp;&nbsp; 13313 |
|  | &nbsp;&nbsp;&nbsp; Companhia de Saneamento Basico do <br> Estado de Sao Paulo - SABESP <br>(Water Utilities)<br>| 136330 | &nbsp;&nbsp; 4165 |
|  | &nbsp;&nbsp;&nbsp; Cury Construtora e Incorporadora SA <br>(Household Durables)<br>| 343000 | &nbsp;&nbsp; 2343 |
|  | &nbsp;&nbsp;&nbsp; Direcional Engenharia SA <br>(Household Durables)<br>| 720700 | &nbsp;&nbsp; 1850 |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 243500 | &nbsp;&nbsp; 3617 |
| \* <br>| &nbsp;&nbsp;&nbsp; ENEVA S.A. <br>(Independent Power and Renewable <br> Electricity Producers)<br>| 893700 | &nbsp;&nbsp; 4234 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **Brazil—(continued)** | **Brazil—(continued)** | **Brazil—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA—ADR <br>(Banks)<br>| 1628820 | &nbsp;&nbsp; $13650 |
|  | &nbsp;&nbsp;&nbsp; Telefonica Brasil S.A. <br>(Diversified Telecommunication <br> Services)<br>| 327600 | &nbsp;&nbsp; 2608 |
|  |  |  | &nbsp;&nbsp; 54171 |
|  | **Chile—2.0%** | **Chile—2.0%** | **Chile—2.0%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 149058 | &nbsp;&nbsp; 6684 |
|  | &nbsp;&nbsp;&nbsp; Banco de Chile <br>(Banks)<br>| 35073936 | &nbsp;&nbsp; 6366 |
|  | &nbsp;&nbsp;&nbsp; Falabella S.A. <br>(Broadline Retail)<br>| 554895 | &nbsp;&nbsp; 3397 |
|  | &nbsp;&nbsp;&nbsp; LATAM Airlines Group S.A.—ADR <br>(Airlines)<br>| 80170 | &nbsp;&nbsp; 3964 |
|  |  |  | &nbsp;&nbsp; 20411 |
|  | **Mexico—1.4%** | **Mexico—1.4%** | **Mexico—1.4%** |
|  | &nbsp;&nbsp;&nbsp; Fresnillo plc <br>(Metals & Mining)<br>| 68146 | &nbsp;&nbsp; 3021 |
|  | &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V. <br>(Banks)<br>| 728400 | &nbsp;&nbsp; 8065 |
|  | &nbsp;&nbsp;&nbsp; Prologis Property Mexico SA de CV <br> REIT <br>(Industrial REITs)<br>| 643325 | &nbsp;&nbsp; 2808 |
|  |  |  | &nbsp;&nbsp; 13894 |
|  | **Peru—1.5%** | **Peru—1.5%** | **Peru—1.5%** |
|  | &nbsp;&nbsp;&nbsp; Credicorp Ltd. <br>(Banks)<br>| 25979 | &nbsp;&nbsp; 8812 |
|  | &nbsp;&nbsp;&nbsp; Southern Copper Corporation <br>(Metals & Mining)<br>| 33791 | &nbsp;&nbsp; 5814 |
|  |  |  | &nbsp;&nbsp; 14626 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 103102 |
|  | ***Asia Ex-Japan—1.2%*** |  |  |
|  | **Hong Kong—1.2%** | **Hong Kong—1.2%** | **Hong Kong—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. <br>(Capital Markets)<br>| 225700 | &nbsp;&nbsp; 11386 |
|  | ***Europe Ex-U.K.—0.5%*** |  |  |
|  | **Luxembourg—0.5%** | **Luxembourg—0.5%** | **Luxembourg—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Millicom International Cellular S.A. <br>(Wireless Telecommunication Services)<br>| 70841 | &nbsp;&nbsp; 5309 |
|  | ***United Kingdom—0.4%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Airtel Africa PLC <br>(Wireless Telecommunication Services)<br>| 733602 | &nbsp;&nbsp; 3383 |
|  | ***Western Hemisphere—0.3%*** |  |  |
|  | **United States—0.3%** | **United States—0.3%** | **United States—0.3%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Laureate Education, Inc. <br>(Diversified Consumer Services)<br>| 89524 | &nbsp;&nbsp; 3119 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.0%** <br>(cost $705,592)<br>|  | &nbsp;&nbsp; 987430 |

---

See accompanying Notes to Portfolio of Investments.

**43**

------

**Emerging Markets Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $8,269, collateralized <br> by U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $8,434<br>| $8269 | &nbsp;&nbsp; $8269 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.8%** <br>(cost $8,269)<br>|  | &nbsp;&nbsp; 8269 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.8%** <br>(cost $713,861)<br>|  | &nbsp;&nbsp; 995699 |
| **Cash and other assets,** <br>**less liabilities—0.2%**<br>|  | &nbsp;&nbsp; 2191 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $997890 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company <br> REIT Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $244619 | &nbsp;&nbsp; $742811 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $987430 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 8269 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8269 |
| **Total Investments in Securities** | $244619 | &nbsp;&nbsp; $751080 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $995699 |

---

See accompanying Notes to Portfolio of Investments.

**44**

------

**Emerging Markets ex China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Emerging Asia—70.7%*** |  |  |
|  | **India—13.4%** | **India—13.4%** | **India—13.4%** |
|  | &nbsp;&nbsp;&nbsp; Acutaas Chemicals Limited <br>(Pharmaceuticals)<br>| 10379 | &nbsp;&nbsp; $284 |
|  | &nbsp;&nbsp;&nbsp; APL Apollo Tubes Ltd. <br>(Metals & Mining)<br>| 9732 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp; Ashok Leyland Limited <br>(Machinery)<br>| 149251 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp; Bajaj Finance Limited <br>(Consumer Finance)<br>| 49695 | &nbsp;&nbsp; 425 |
|  | &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. <br>(Aerospace & Defense)<br>| 132027 | &nbsp;&nbsp; 566 |
|  | &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. <br>(Wireless Telecommunication Services)<br>| 38143 | &nbsp;&nbsp; 728 |
| \* <br>| &nbsp;&nbsp;&nbsp; Billionbrains Garage Ventures Limited <br>(Capital Markets)<br>| 115809 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp; Cummins India Ltd. <br>(Machinery)<br>| 8111 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp; Eicher Motors Limited <br>(Automobiles)<br>| 4386 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 10733 | &nbsp;&nbsp; 419 |
|  | &nbsp;&nbsp;&nbsp; HDFC Asset Management Co. Ltd. <br>(Capital Markets)<br>| 10014 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. <br>(Aerospace & Defense)<br>| 7948 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. <br>(Banks)<br>| 35555 | &nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp; Karur Vysya Bank Ltd. <br>(Banks)<br>| 79406 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp; KEI Industries Ltd. <br>(Electrical Equipment)<br>| 4410 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. <br>(Automobiles)<br>| 9200 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp; Max Healthcare Institute Ltd. <br>(Health Care Providers & Services)<br>| 18000 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India <br> Limited <br>(Capital Markets)<br>| 8575 | &nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp; National Aluminium Company Limited <br>(Metals & Mining)<br>| 52346 | &nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp; Radico Khaitan Ltd. <br>(Beverages)<br>| 6606 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp; Reliance Industries Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 30247 | &nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp; Shriram Finance Limited <br>(Consumer Finance)<br>| 24707 | &nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp; State Bank of India <br>(Banks)<br>| 49634 | &nbsp;&nbsp; 518 |
|  | &nbsp;&nbsp;&nbsp; The Great Eastern Shipping Company <br> Limited <br>(Oil, Gas & Consumable Fuels)<br>| 8498 | &nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp; Torrent Pharmaceuticals Limited <br>(Pharmaceuticals)<br>| 4852 | &nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp; TVS Motor Co. Ltd. <br>(Automobiles)<br>| 9722 | &nbsp;&nbsp; 349 |
|  |  |  | &nbsp;&nbsp; 8139 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Philippines—1.0%** | **Philippines—1.0%** | **Philippines—1.0%** |
|  | &nbsp;&nbsp;&nbsp; International Container Terminal Services, <br> Inc. <br>(Transportation Infrastructure)<br>| 56390 | &nbsp;&nbsp; $639 |
|  | **South Korea—22.9%** | **South Korea—22.9%** | **South Korea—22.9%** |
|  | &nbsp;&nbsp;&nbsp; Hanwha Aerospace Co. Ltd. <br>(Aerospace & Defense)<br>| 955 | &nbsp;&nbsp; 814 |
| \* <br>| &nbsp;&nbsp;&nbsp; Hanwha Engine <br>(Machinery)<br>| 8038 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Electric Co. Ltd. <br>(Electrical Equipment)<br>| 952 | &nbsp;&nbsp; 539 |
|  | &nbsp;&nbsp;&nbsp; HD Hyundai Heavy Industries Co., Ltd. <br>(Machinery)<br>| 1441 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp; Hyosung Heavy Industries Corporation <br>(Electrical Equipment)<br>| 317 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp; Hyundai Rotem Company <br>(Machinery)<br>| 1995 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp; KB Financial Group Inc. <br>(Banks)<br>| 7371 | &nbsp;&nbsp; 724 |
|  | &nbsp;&nbsp;&nbsp; Korea Investment Holdings Co., Ltd. <br>(Capital Markets)<br>| 1329 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp; LIG Nex1 Co., Ltd <br>(Aerospace & Defense)<br>| 581 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp; LS Electric Co., Ltd <br>(Electrical Equipment)<br>| 786 | &nbsp;&nbsp; 393 |
| \* <br>| &nbsp;&nbsp;&nbsp; Samsung Biologics Co.,Ltd. <br>(Life Sciences Tools & Services)<br>| 264 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electro-Mechanics Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 1115 | &nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 36620 | &nbsp;&nbsp; 4283 |
|  | &nbsp;&nbsp;&nbsp; SK hynix Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 4397 | &nbsp;&nbsp; 2495 |
| \* <br>| &nbsp;&nbsp;&nbsp; SK Square Co., Ltd. <br>(Industrial Conglomerates)<br>| 6575 | &nbsp;&nbsp; 2165 |
|  |  |  | &nbsp;&nbsp; 13896 |
|  | **Taiwan—32.8%** | **Taiwan—32.8%** | **Taiwan—32.8%** |
|  | &nbsp;&nbsp;&nbsp; Accton Technology Corp. <br>(Communications Equipment)<br>| 23000 | &nbsp;&nbsp; 1135 |
|  | &nbsp;&nbsp;&nbsp; Ase Technology Holding Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 39000 | &nbsp;&nbsp; 429 |
|  | &nbsp;&nbsp;&nbsp; Asia Vital Components Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 8000 | &nbsp;&nbsp; 528 |
|  | &nbsp;&nbsp;&nbsp; Aspeed Technology Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 2000 | &nbsp;&nbsp; 689 |
|  | &nbsp;&nbsp;&nbsp; Chroma ATE, Inc. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 27000 | &nbsp;&nbsp; 1296 |
|  | &nbsp;&nbsp;&nbsp; Compeq Manufacturing Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 39000 | &nbsp;&nbsp; 313 |

---

See accompanying Notes to Portfolio of Investments.

**45**

------

**Emerging Markets ex China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Delta Electronics, Inc. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 38000 | &nbsp;&nbsp; $1713 |
|  | &nbsp;&nbsp;&nbsp; Elite Material Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 8000 | &nbsp;&nbsp; 683 |
|  | &nbsp;&nbsp;&nbsp; Gold Circuit Electronics Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 14000 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 181000 | &nbsp;&nbsp; 1106 |
|  | &nbsp;&nbsp;&nbsp; Jentech Precision Industrial Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 2000 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp; King Yuan Electronics Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 24000 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp; MediaTek, Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 6000 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 100000 | &nbsp;&nbsp; 5784 |
|  | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing <br> Company Limited—ADR <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 14251 | &nbsp;&nbsp; 4816 |
|  | &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 17000 | &nbsp;&nbsp; 249 |
|  |  |  | &nbsp;&nbsp; 19881 |
|  | **Thailand—0.6%** | **Thailand—0.6%** | **Thailand—0.6%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Fabrinet <br>(Electronic Equipment, Instruments & <br> Components)<br>| 663 | &nbsp;&nbsp; 346 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 42901 |
|  | ***Emerging Latin America—14.1%*** |  |  |
|  | **Brazil—6.5%** | **Brazil—6.5%** | **Brazil—6.5%** |
|  | &nbsp;&nbsp;&nbsp; B3 S.A. Brasil, Bolsa, Balcao B3 S.A. <br>(Capital Markets)<br>| 126200 | &nbsp;&nbsp; 448 |
| \* <br>| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA <br>(Capital Markets)<br>| 77600 | &nbsp;&nbsp; 843 |
|  | &nbsp;&nbsp;&nbsp; Companhia de Saneamento Basico do <br> Estado de Sao Paulo - SABESP <br>(Water Utilities)<br>| 10734 | &nbsp;&nbsp; 328 |
|  | &nbsp;&nbsp;&nbsp; Cury Construtora e Incorporadora SA <br>(Household Durables)<br>| 50000 | &nbsp;&nbsp; 342 |
|  | &nbsp;&nbsp;&nbsp; Embraer S.A. <br>(Aerospace & Defense)<br>| 15700 | &nbsp;&nbsp; 233 |
| \* <br>| &nbsp;&nbsp;&nbsp; ENEVA S.A. <br>(Independent Power and Renewable <br> Electricity Producers)<br>| 54200 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA—ADR <br>(Banks)<br>| 109734 | &nbsp;&nbsp; 920 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin America—(continued)*** |  |  |
|  | **Brazil—(continued)** | **Brazil—(continued)** | **Brazil—(continued)** |
| \* <br>| &nbsp;&nbsp;&nbsp; Nu Holdings Ltd.<sup>†</sup> <br>(Banks)<br>| 15607 | &nbsp;&nbsp; $224 |
|  | &nbsp;&nbsp;&nbsp; Telefonica Brasil S.A. <br>(Diversified Telecommunication Services)<br>| 41200 | &nbsp;&nbsp; 328 |
|  |  |  | &nbsp;&nbsp; 3923 |
|  | **Chile—2.2%** | **Chile—2.2%** | **Chile—2.2%** |
|  | &nbsp;&nbsp;&nbsp; Antofagasta PLC <br>(Metals & Mining)<br>| 12128 | &nbsp;&nbsp; 544 |
|  | &nbsp;&nbsp;&nbsp; Banco de Chile <br>(Banks)<br>| 1490592 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp; Falabella S.A. <br>(Broadline Retail)<br>| 49551 | &nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp; LATAM Airlines Group S.A.—ADR <br>(Airlines)<br>| 4097 | &nbsp;&nbsp; 203 |
|  |  |  | &nbsp;&nbsp; 1320 |
|  | **Mexico—2.4%** | **Mexico—2.4%** | **Mexico—2.4%** |
|  | &nbsp;&nbsp;&nbsp; America Movil, S.A.B. de C.V. <br>(Wireless Telecommunication Services)<br>| 253200 | &nbsp;&nbsp; 322 |
| \* <br>| &nbsp;&nbsp;&nbsp; BBB Foods, Inc. <sup>†</sup> <br>(Consumer Staples Distribution & Retail)<br>| 6024 | &nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp; Corp. Inmobiliaria Vesta S.A.B. de C.V. <br>(Real Estate Management & <br> Development)<br>| 65600 | &nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp; Gentera S.A.B. de C.V. <br>(Consumer Finance)<br>| 81100 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V. <br>(Banks)<br>| 44000 | &nbsp;&nbsp; 487 |
|  |  |  | &nbsp;&nbsp; 1471 |
|  | **Panama—0.4%** | **Panama—0.4%** | **Panama—0.4%** |
|  | &nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio <br> Exterior, S.A. <br>(Financial Services)<br>| 5172 | &nbsp;&nbsp; 264 |
|  | **Peru—1.4%** | **Peru—1.4%** | **Peru—1.4%** |
|  | &nbsp;&nbsp;&nbsp; Credicorp Ltd. <br>(Banks)<br>| 1756 | &nbsp;&nbsp; 595 |
|  | &nbsp;&nbsp;&nbsp; Southern Copper Corporation <br>(Metals & Mining)<br>| 1556 | &nbsp;&nbsp; 268 |
|  |  |  | &nbsp;&nbsp; 863 |
|  | **United States—1.2%** | **United States—1.2%** | **United States—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Aura Minerals Inc. <br>(Metals & Mining)<br>| 8903 | &nbsp;&nbsp; 727 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 8568 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—13.2%*** |  |  |
|  | **Czech Republic—0.1%** | **Czech Republic—0.1%** | **Czech Republic—0.1%** |
| \* <br>| &nbsp;&nbsp;&nbsp; CSG N.V. <br>(Aerospace & Defense)<br>| 2772 | &nbsp;&nbsp; 75 |
|  | **Georgia—0.5%** | **Georgia—0.5%** | **Georgia—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Lion Finance Group PLC <br>(Banks)<br>| 2240 | &nbsp;&nbsp; 278 |
|  | **Greece—2.6%** | **Greece—2.6%** | **Greece—2.6%** |
|  | &nbsp;&nbsp;&nbsp; Eurobank S.A. <br>(Banks)<br>| 136011 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp; National Bank of Greece S.A. <br>(Banks)<br>| 16115 | &nbsp;&nbsp; 249 |

---

See accompanying Notes to Portfolio of Investments.

**46**

------

**Emerging Markets ex China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **Greece—(continued)** | **Greece—(continued)** | **Greece—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Optima bank SA <br>(Banks)<br>| 23065 | &nbsp;&nbsp; $227 |
|  | &nbsp;&nbsp;&nbsp; Piraeus Bank S.A. <br>(Banks)<br>| 65963 | &nbsp;&nbsp; 542 |
|  |  |  | &nbsp;&nbsp; 1563 |
|  | **Hungary—1.0%** | **Hungary—1.0%** | **Hungary—1.0%** |
|  | &nbsp;&nbsp;&nbsp; OTP Bank Nyrt. PLC <br>(Banks)<br>| 5912 | &nbsp;&nbsp; 634 |
|  | **Kazakhstan—0.8%** | **Kazakhstan—0.8%** | **Kazakhstan—0.8%** |
|  | &nbsp;&nbsp;&nbsp; NAC Kazatomprom JSC <br>(Oil, Gas & Consumable Fuels)<br>| 5761 | &nbsp;&nbsp; 455 |
|  | **Poland—0.4%** | **Poland—0.4%** | **Poland—0.4%** |
|  | &nbsp;&nbsp;&nbsp; PKO Bank Polski S.A. <br>(Banks)<br>| 11125 | &nbsp;&nbsp; 263 |
|  | **Saudi Arabia—0.9%** | **Saudi Arabia—0.9%** | **Saudi Arabia—0.9%** |
|  | &nbsp;&nbsp;&nbsp; Electrical Industries Company <br>(Electrical Equipment)<br>| 76794 | &nbsp;&nbsp; 346 |
| \* <br>| &nbsp;&nbsp;&nbsp; Rasan Information Technology Company <br>(Insurance)<br>| 6069 | &nbsp;&nbsp; 220 |
|  |  |  | &nbsp;&nbsp; 566 |
|  | **South Africa—3.5%** | **South Africa—3.5%** | **South Africa—3.5%** |
|  | &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. <br>(Banks)<br>| 3963 | &nbsp;&nbsp; 974 |
|  | &nbsp;&nbsp;&nbsp; MTN Group Limited <br>(Wireless Telecommunication Services)<br>| 37860 | &nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp; Pan African Resources PLC <br>(Metals & Mining)<br>| 273733 | &nbsp;&nbsp; 507 |
|  | &nbsp;&nbsp;&nbsp; Redefine Properties Limited <br>(Diversified REITs)<br>| 544227 | &nbsp;&nbsp; 192 |
|  |  |  | &nbsp;&nbsp; 2115 |
|  | **Turkey—0.9%** | **Turkey—0.9%** | **Turkey—0.9%** |
|  | &nbsp;&nbsp;&nbsp; ASELSAN Elektronik Sanayi ve Ticaret <br> A.S. <br>(Aerospace & Defense)<br>| 74433 | &nbsp;&nbsp; 535 |
|  | **United Arab Emirates—2.5%** | **United Arab Emirates—2.5%** | **United Arab Emirates—2.5%** |
|  | &nbsp;&nbsp;&nbsp; Abu Dhabi Islamic Bank PJSC <br>(Banks)<br>| 62094 | &nbsp;&nbsp; 357 |
|  | &nbsp;&nbsp;&nbsp; Aldar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 157039 | &nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp; Emaar Properties PJSC <br>(Real Estate Management & <br> Development)<br>| 108228 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC <br>(Banks)<br>| 60598 | &nbsp;&nbsp; 457 |
|  |  |  | &nbsp;&nbsp; 1508 |
|  | **Total Emerging Europe, Mid-East, Africa** |  | &nbsp;&nbsp; 7992 |
|  | ***Europe Ex-U.K.—0.7%*** |  |  |
|  | **Luxembourg—0.7%** | **Luxembourg—0.7%** | **Luxembourg—0.7%** |
|  | &nbsp;&nbsp;&nbsp; Millicom International Cellular S.A. <br>(Wireless Telecommunication Services)<br>| 5411 | &nbsp;&nbsp; 405 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Western Hemisphere—0.5%*** |  |  |
|  | **United States—0.5%** | **United States—0.5%** | **United States—0.5%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Laureate Education, Inc. <br>(Diversified Consumer Services)<br>| 8973 | &nbsp;&nbsp; $313 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.2%** <br>(cost $44,942)<br>|  | &nbsp;&nbsp; 60179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $454, collateralized by U.S. Treasury <br> Note, 3.875%, due 03/31/2028, valued at <br> $463<br>| &nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.7%** <br>(cost $454)<br>| &nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.9%** <br>(cost $45,396)<br>| &nbsp;&nbsp; 60633 |
| **Cash and other assets,** <br>**less liabilities—0.1%**<br>| &nbsp;&nbsp; 53 |
| **Net Assets—100.0%** | &nbsp;&nbsp; $60686 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company <br> REITs Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security <br> † U.S. listed foreign security

See accompanying Notes to Portfolio of Investments.

**47**

------

**Emerging Markets ex China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $13633 | &nbsp;&nbsp; $46546 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $60179 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 454 | &nbsp;&nbsp; — | &nbsp;&nbsp; 454 |
| **Total Investments in Securities** | $13633 | &nbsp;&nbsp; $47000 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $60633 |

---

See accompanying Notes to Portfolio of Investments.

**48**

------

**Emerging Markets Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Emerging Asia—62.1%*** |  |  |
|  | **China—9.9%** | **China—9.9%** | **China—9.9%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Asia - Potash International Investment <br> (Guangzhou) Co., Ltd. <br>(Chemicals)<br>| 350800 | &nbsp;&nbsp; $3136 |
|  | &nbsp;&nbsp;&nbsp; COSCO SHIPPING Energy Transportation <br> Co., Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 1056500 | &nbsp;&nbsp; 3398 |
|  | &nbsp;&nbsp;&nbsp; Dajin Heavy Industry Co., Ltd. <br>(Electrical Equipment)<br>| 377100 | &nbsp;&nbsp; 3831 |
|  | &nbsp;&nbsp;&nbsp; Guizhou Chanhen Chemical Corporation <br>(Chemicals)<br>| 769000 | &nbsp;&nbsp; 4466 |
|  | &nbsp;&nbsp;&nbsp; Harbin Electric Company Limited <br>(Electrical Equipment)<br>| 1922000 | &nbsp;&nbsp; 5191 |
|  | &nbsp;&nbsp;&nbsp; Hebei Huatong Wires and Cables Group <br> Co., Ltd <br>(Electrical Equipment)<br>| 354000 | &nbsp;&nbsp; 2443 |
|  | &nbsp;&nbsp;&nbsp; Huaming Power Equipment Co. Ltd. <br>(Machinery)<br>| 702962 | &nbsp;&nbsp; 2789 |
|  | &nbsp;&nbsp;&nbsp; Neway Valve (Suzhou) Co., Ltd. <br>(Machinery)<br>| 264900 | &nbsp;&nbsp; 1879 |
|  | &nbsp;&nbsp;&nbsp; Shanghai Conant Optical Co., Ltd. <br>(Health Care Equipment & Supplies)<br>| 599000 | &nbsp;&nbsp; 3571 |
| \* <br>| &nbsp;&nbsp;&nbsp; VNET Group, Inc.—ADR <br>(IT Services)<br>| 118547 | &nbsp;&nbsp; 995 |
|  | &nbsp;&nbsp;&nbsp; Wasion Holdings Limited <br>(Electronic Equipment, Instruments & <br> Components)<br>| 646000 | &nbsp;&nbsp; 2345 |
|  | &nbsp;&nbsp;&nbsp; Zhejiang Sanmei Chemical Industry Co., <br> Ltd. <br>(Chemicals)<br>| 434100 | &nbsp;&nbsp; 3935 |
|  |  |  | &nbsp;&nbsp; 37979 |
|  | **India—16.3%** | **India—16.3%** | **India—16.3%** |
|  | &nbsp;&nbsp;&nbsp; Acutaas Chemicals Limited <br>(Pharmaceuticals)<br>| 145426 | &nbsp;&nbsp; 3973 |
|  | &nbsp;&nbsp;&nbsp; APL Apollo Tubes Ltd. <br>(Metals & Mining)<br>| 74577 | &nbsp;&nbsp; 1547 |
|  | &nbsp;&nbsp;&nbsp; City Union Bank Limited <br>(Banks)<br>| 1124791 | &nbsp;&nbsp; 2880 |
|  | &nbsp;&nbsp;&nbsp; Force Motors Limited <br>(Machinery)<br>| 5006 | &nbsp;&nbsp; 1033 |
|  | &nbsp;&nbsp;&nbsp; GE Vernova T&D India Limited <br>(Electrical Equipment)<br>| 145463 | &nbsp;&nbsp; 5674 |
|  | &nbsp;&nbsp;&nbsp; Hitachi Energy India Ltd <br>(Electrical Equipment)<br>| 5311 | &nbsp;&nbsp; 1381 |
|  | &nbsp;&nbsp;&nbsp; Indian Bank <br>(Banks)<br>| 235617 | &nbsp;&nbsp; 2121 |
|  | &nbsp;&nbsp;&nbsp; Karur Vysya Bank Ltd. <br>(Banks)<br>| 1854374 | &nbsp;&nbsp; 5722 |
|  | &nbsp;&nbsp;&nbsp; KEI Industries Ltd. <br>(Electrical Equipment)<br>| 34569 | &nbsp;&nbsp; 1476 |
|  | &nbsp;&nbsp;&nbsp; Kirloskar Oil Engines Limited <br>(Machinery)<br>| 146068 | &nbsp;&nbsp; 2074 |
| \* <br>| &nbsp;&nbsp;&nbsp; MTAR Technologies Limited <br>(Machinery)<br>| 35614 | &nbsp;&nbsp; 1308 |
|  | &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India <br> Limited <br>(Capital Markets)<br>| 130553 | &nbsp;&nbsp; 3337 |
|  | &nbsp;&nbsp;&nbsp; Muthoot Finance Limited <br>(Consumer Finance)<br>| 40281 | &nbsp;&nbsp; 1366 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **India—(continued)** | **India—(continued)** | **India—(continued)** |
|  | &nbsp;&nbsp;&nbsp; National Aluminium Company Limited <br>(Metals & Mining)<br>| 790056 | &nbsp;&nbsp; $3269 |
|  | &nbsp;&nbsp;&nbsp; Navin Fluorine International Limited <br>(Chemicals)<br>| 39844 | &nbsp;&nbsp; 2608 |
|  | &nbsp;&nbsp;&nbsp; Netweb Technologies India Limited <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 45143 | &nbsp;&nbsp; 1486 |
|  | &nbsp;&nbsp;&nbsp; Nippon Life India Asset Management <br> Limited <br>(Capital Markets)<br>| 308301 | &nbsp;&nbsp; 2618 |
|  | &nbsp;&nbsp;&nbsp; Quality Power Electrical Equipments <br> Limited <br>(Electrical Equipment)<br>| 295045 | &nbsp;&nbsp; 2548 |
| \* <br>| &nbsp;&nbsp;&nbsp; SAI Life Sciences Limited <br>(Life Sciences Tools & Services)<br>| 192969 | &nbsp;&nbsp; 1985 |
|  | &nbsp;&nbsp;&nbsp; Sansera Engineering Limited <br>(Auto Components)<br>| 57184 | &nbsp;&nbsp; 1264 |
|  | &nbsp;&nbsp;&nbsp; Solar Industries India Limited <br>(Chemicals)<br>| 17776 | &nbsp;&nbsp; 2270 |
|  | &nbsp;&nbsp;&nbsp; TD Power Systems Limited <br>(Electrical Equipment)<br>| 294617 | &nbsp;&nbsp; 2676 |
|  | &nbsp;&nbsp;&nbsp; The Federal Bank Limited <br>(Banks)<br>| 670259 | &nbsp;&nbsp; 1858 |
|  | &nbsp;&nbsp;&nbsp; Torrent Pharmaceuticals Limited <br>(Pharmaceuticals)<br>| 39932 | &nbsp;&nbsp; 1782 |
| \* <br>| &nbsp;&nbsp;&nbsp; Ujjivan Small Finance Bank Limited <br>(Banks)<br>| 2060183 | &nbsp;&nbsp; 1102 |
|  | &nbsp;&nbsp;&nbsp; Union Bank of India Limited <br>(Banks)<br>| 659230 | &nbsp;&nbsp; 1154 |
|  | &nbsp;&nbsp;&nbsp; Voltamp Transformers Limited <br>(Electrical Equipment)<br>| 18788 | &nbsp;&nbsp; 1745 |
|  |  |  | &nbsp;&nbsp; 62257 |
|  | **Malaysia—2.2%** | **Malaysia—2.2%** | **Malaysia—2.2%** |
|  | &nbsp;&nbsp;&nbsp; Alliance Bank Malaysia Berhad <br>(Banks)<br>| 1420600 | &nbsp;&nbsp; 1692 |
|  | &nbsp;&nbsp;&nbsp; IOI Properties Group Berhad <br>(Real Estate Management & <br> Development)<br>| 1695100 | &nbsp;&nbsp; 1396 |
|  | &nbsp;&nbsp;&nbsp; Malayan Cement Berhad <br>(Construction Materials)<br>| 677000 | &nbsp;&nbsp; 1016 |
|  | &nbsp;&nbsp;&nbsp; Southern Cable Group Berhad <br>(Electrical Equipment)<br>| 829800 | &nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp; Sunway Construction Group Berhad <br>(Construction & Engineering)<br>| 1685500 | &nbsp;&nbsp; 2664 |
| \* <br>| &nbsp;&nbsp;&nbsp; Tanco Holdings Berhad <br>(Industrial Conglomerates)<br>| 3313700 | &nbsp;&nbsp; 1186 |
|  |  |  | &nbsp;&nbsp; 8327 |
|  | **Pakistan—1.2%** | **Pakistan—1.2%** | **Pakistan—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Meezan Bank Limited <br>(Banks)<br>| 1902820 | &nbsp;&nbsp; 3097 |
|  | &nbsp;&nbsp;&nbsp; United Bank Limited <br>(Banks)<br>| 1237373 | &nbsp;&nbsp; 1476 |
|  |  |  | &nbsp;&nbsp; 4573 |
|  | **Philippines—0.3%** | **Philippines—0.3%** | **Philippines—0.3%** |
|  | &nbsp;&nbsp;&nbsp; Apex Mining Co., Inc. <br>(Metals & Mining)<br>| 4449000 | &nbsp;&nbsp; 1118 |

---

See accompanying Notes to Portfolio of Investments.

**49**

------

**Emerging Markets Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **South Korea—12.8%** | **South Korea—12.8%** | **South Korea—12.8%** |
|  | &nbsp;&nbsp;&nbsp; APR Co.,Ltd. <br>(Personal Care Products)<br>| 16904 | &nbsp;&nbsp; $3857 |
| \* <br>| &nbsp;&nbsp;&nbsp; BHI Co., Ltd. <br>(Machinery)<br>| 48896 | &nbsp;&nbsp; 3092 |
|  | &nbsp;&nbsp;&nbsp; BNK Financial Group, Inc. <br>(Banks)<br>| 325818 | &nbsp;&nbsp; 3951 |
|  | &nbsp;&nbsp;&nbsp; Doosan Co., Ltd. <br>(Industrial Conglomerates)<br>| 4906 | &nbsp;&nbsp; 3563 |
|  | &nbsp;&nbsp;&nbsp; EO Technics Co., Ltd <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 4951 | &nbsp;&nbsp; 1309 |
|  | &nbsp;&nbsp;&nbsp; Hankuk Carbon Co., Ltd. <br>(Chemicals)<br>| 54571 | &nbsp;&nbsp; 1446 |
|  | &nbsp;&nbsp;&nbsp; Hansol Chemical Co., Ltd. <br>(Chemicals)<br>| 7563 | &nbsp;&nbsp; 1297 |
| \* <br>| &nbsp;&nbsp;&nbsp; Hanwha Engine <br>(Machinery)<br>| 139589 | &nbsp;&nbsp; 4191 |
|  | &nbsp;&nbsp;&nbsp; Hanwha Systems Co., Ltd. <br>(Aerospace & Defense)<br>| 23622 | &nbsp;&nbsp; 1850 |
| \* <br>| &nbsp;&nbsp;&nbsp; HD-Hyundai Marine Engine Co., Ltd. <br>(Machinery)<br>| 20038 | &nbsp;&nbsp; 954 |
|  | &nbsp;&nbsp;&nbsp; Hyosung Corporation <br>(Industrial Conglomerates)<br>| 1913 | &nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp; Hyosung Heavy Industries Corporation <br>(Electrical Equipment)<br>| 2257 | &nbsp;&nbsp; 3811 |
|  | &nbsp;&nbsp;&nbsp; Iljin Electric Co., Ltd <br>(Electrical Equipment)<br>| 38671 | &nbsp;&nbsp; 1847 |
|  | &nbsp;&nbsp;&nbsp; ISC Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 14115 | &nbsp;&nbsp; 2268 |
|  | &nbsp;&nbsp;&nbsp; JB Financial Group Co. Ltd. <br>(Banks)<br>| 134200 | &nbsp;&nbsp; 2754 |
|  | &nbsp;&nbsp;&nbsp; KIWOOM Securities Co., Ltd. <br>(Capital Markets)<br>| 6164 | &nbsp;&nbsp; 1744 |
|  | &nbsp;&nbsp;&nbsp; Korea Investment Holdings Co., Ltd. <br>(Capital Markets)<br>| 12141 | &nbsp;&nbsp; 1694 |
|  | &nbsp;&nbsp;&nbsp; LS Electric Co., Ltd <br>(Electrical Equipment)<br>| 10333 | &nbsp;&nbsp; 5165 |
| \* <br>| &nbsp;&nbsp;&nbsp; Robotis Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 8218 | &nbsp;&nbsp; 1366 |
|  | &nbsp;&nbsp;&nbsp; ST Pharm Co., Ltd. <br>(Pharmaceuticals)<br>| 13345 | &nbsp;&nbsp; 1304 |
|  | &nbsp;&nbsp;&nbsp; Wonik IPS Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 14717 | &nbsp;&nbsp; 1095 |
|  |  |  | &nbsp;&nbsp; 48726 |
|  | **Taiwan—18.2%** | **Taiwan—18.2%** | **Taiwan—18.2%** |
|  | &nbsp;&nbsp;&nbsp; Acter Group Corporation Limited <br>(Construction & Engineering)<br>| 73000 | &nbsp;&nbsp; 1628 |
|  | &nbsp;&nbsp;&nbsp; Aspeed Technology Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 8000 | &nbsp;&nbsp; 2758 |
|  | &nbsp;&nbsp;&nbsp; AURAS Technology Co. Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 40000 | &nbsp;&nbsp; 1151 |
|  | &nbsp;&nbsp;&nbsp; C Sun Mfg. Ltd. <br>(Machinery)<br>| 245000 | &nbsp;&nbsp; 3247 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Chenbro Micom Co., Ltd. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 36000 | &nbsp;&nbsp; $1008 |
|  | &nbsp;&nbsp;&nbsp; Chunghwa Precision Test Tech. Co., Ltd <br>(Electronic Equipment, Instruments & <br> Components)<br>| 19000 | &nbsp;&nbsp; 1921 |
|  | &nbsp;&nbsp;&nbsp; Compeq Manufacturing Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 393000 | &nbsp;&nbsp; 3157 |
|  | &nbsp;&nbsp;&nbsp; EZconn Corporation <br>(Communications Equipment)<br>| 24000 | &nbsp;&nbsp; 1517 |
| \* <br>| &nbsp;&nbsp;&nbsp; FOCI Fiber Optic Communications, Inc. <br>(Communications Equipment)<br>| 207368 | &nbsp;&nbsp; 3780 |
|  | &nbsp;&nbsp;&nbsp; Fortune Electric Co. Ltd. <br>(Electrical Equipment)<br>| 92000 | &nbsp;&nbsp; 2351 |
|  | &nbsp;&nbsp;&nbsp; Fositek Corp. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 71000 | &nbsp;&nbsp; 4115 |
|  | &nbsp;&nbsp;&nbsp; Gold Circuit Electronics Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 105000 | &nbsp;&nbsp; 2961 |
|  | &nbsp;&nbsp;&nbsp; Grand Process Technology Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 43000 | &nbsp;&nbsp; 3870 |
|  | &nbsp;&nbsp;&nbsp; Innodisk Corp. <br>(Technology Hardware, Storage & <br> Peripherals)<br>| 87000 | &nbsp;&nbsp; 2391 |
|  | &nbsp;&nbsp;&nbsp; Jentech Precision Industrial Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 24000 | &nbsp;&nbsp; 3018 |
|  | &nbsp;&nbsp;&nbsp; Kaori Heat Treatment Co. Ltd. <br>(Machinery)<br>| 38000 | &nbsp;&nbsp; 1064 |
|  | &nbsp;&nbsp;&nbsp; Kinik Company <br>(Machinery)<br>| 135000 | &nbsp;&nbsp; 1871 |
|  | &nbsp;&nbsp;&nbsp; L&K Engineering Co., Ltd. <br>(Commercial Services & Supplies)<br>| 144000 | &nbsp;&nbsp; 2466 |
|  | &nbsp;&nbsp;&nbsp; Lotes Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 30000 | &nbsp;&nbsp; 2002 |
|  | &nbsp;&nbsp;&nbsp; Marketech International Corp. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 120000 | &nbsp;&nbsp; 1064 |
|  | &nbsp;&nbsp;&nbsp; Mega Union Technology Inc. <br>(Machinery)<br>| 77000 | &nbsp;&nbsp; 1862 |
|  | &nbsp;&nbsp;&nbsp; MPI Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 45000 | &nbsp;&nbsp; 5302 |
|  | &nbsp;&nbsp;&nbsp; Nan Ya Printed Circuit Board Corporation <br>(Electronic Equipment, Instruments & <br> Components)<br>| 147000 | &nbsp;&nbsp; 2535 |
| \* <br>| &nbsp;&nbsp;&nbsp; Powerchip Semiconductor Manufacturing <br> Corporation <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 519000 | &nbsp;&nbsp; 923 |

---

See accompanying Notes to Portfolio of Investments.

**50**

------

**Emerging Markets Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **Taiwan—(continued)** | **Taiwan—(continued)** | **Taiwan—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Taiwan Union Technology Corporation <br>(Electronic Equipment, Instruments & <br> Components)<br>| 365000 | &nbsp;&nbsp; $6814 |
|  | &nbsp;&nbsp;&nbsp; WinWay Technology Co. Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 19000 | &nbsp;&nbsp; 4494 |
|  |  |  | &nbsp;&nbsp; 69270 |
|  | **Thailand—1.2%** | **Thailand—1.2%** | **Thailand—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Kiatnakin Phatra Bank Public Company <br> Limited <br>(Banks)<br>| 2041100 | &nbsp;&nbsp; 4726 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 236976 |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—18.6%*** |  |  |
|  | **Czech Republic—0.9%** | **Czech Republic—0.9%** | **Czech Republic—0.9%** |
|  | &nbsp;&nbsp;&nbsp; MONETA Money Bank, a. s. <br>(Banks)<br>| 389660 | &nbsp;&nbsp; 3397 |
|  | **Georgia—1.1%** | **Georgia—1.1%** | **Georgia—1.1%** |
|  | &nbsp;&nbsp;&nbsp; Lion Finance Group PLC <br>(Banks)<br>| 32981 | &nbsp;&nbsp; 4093 |
|  | **Greece—3.0%** | **Greece—3.0%** | **Greece—3.0%** |
|  | &nbsp;&nbsp;&nbsp; Cenergy Holdings SA <br>(Electrical Equipment)<br>| 108608 | &nbsp;&nbsp; 2389 |
|  | &nbsp;&nbsp;&nbsp; GEK TERNA Holdings S.A. <br>(Construction & Engineering)<br>| 59817 | &nbsp;&nbsp; 2352 |
|  | &nbsp;&nbsp;&nbsp; Motor Oil (Hellas) Corinth Refineries S.A. <br>(Oil, Gas & Consumable Fuels)<br>| 69722 | &nbsp;&nbsp; 3070 |
|  | &nbsp;&nbsp;&nbsp; Optima bank SA <br>(Banks)<br>| 358984 | &nbsp;&nbsp; 3538 |
|  |  |  | &nbsp;&nbsp; 11349 |
|  | **Kazakhstan—1.5%** | **Kazakhstan—1.5%** | **Kazakhstan—1.5%** |
|  | &nbsp;&nbsp;&nbsp; JSC Halyk Bank <br>(Banks)<br>| 67912 | &nbsp;&nbsp; 2120 |
|  | &nbsp;&nbsp;&nbsp; NAC Kazatomprom JSC <br>(Oil, Gas & Consumable Fuels)<br>| 47707 | &nbsp;&nbsp; 3767 |
|  |  |  | &nbsp;&nbsp; 5887 |
|  | **Oman—0.4%** | **Oman—0.4%** | **Oman—0.4%** |
|  | &nbsp;&nbsp;&nbsp; OQ Gas Networks SAOG <br>(Oil, Gas & Consumable Fuels)<br>| 2465463 | &nbsp;&nbsp; 1725 |
|  | **Poland—1.2%** | **Poland—1.2%** | **Poland—1.2%** |
|  | &nbsp;&nbsp;&nbsp; Enea Spolka Akcyjna <br>(Electric Utilities)<br>| 307203 | &nbsp;&nbsp; 2054 |
|  | &nbsp;&nbsp;&nbsp; Orange Polska Spolka Akcyjna <br>(Diversified Telecommunication <br> Services)<br>| 705857 | &nbsp;&nbsp; 2699 |
|  |  |  | &nbsp;&nbsp; 4753 |
|  | **Romania—0.4%** | **Romania—0.4%** | **Romania—0.4%** |
|  | &nbsp;&nbsp;&nbsp; Digi Communications N.V. <br>(Diversified Telecommunication <br> Services)<br>| 48137 | &nbsp;&nbsp; 1478 |
|  | **Saudi Arabia—1.7%** | **Saudi Arabia—1.7%** | **Saudi Arabia—1.7%** |
|  | &nbsp;&nbsp;&nbsp; Electrical Industries Company <br>(Electrical Equipment)<br>| 780982 | &nbsp;&nbsp; 3519 |
| \* <br>| &nbsp;&nbsp;&nbsp; Rasan Information Technology Company <br>(Insurance)<br>| 77817 | &nbsp;&nbsp; 2824 |
|  |  |  | &nbsp;&nbsp; 6343 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Europe, Mid-East,*** <br> ***Africa—(continued)***<br>|  |  |
|  | **Slovenia—0.4%** | **Slovenia—0.4%** | **Slovenia—0.4%** |
|  | &nbsp;&nbsp;&nbsp; Nova Ljubljanska banka d.d. <br>(Banks)<br>| 27923 | &nbsp;&nbsp; $1372 |
|  | **South Africa—2.9%** | **South Africa—2.9%** | **South Africa—2.9%** |
|  | &nbsp;&nbsp;&nbsp; DRDGOLD Limited <br>(Metals & Mining)<br>| 585935 | &nbsp;&nbsp; 1743 |
|  | &nbsp;&nbsp;&nbsp; Hyprop Investments Limited <br>(Retail REITs)<br>| 367681 | &nbsp;&nbsp; 1178 |
|  | &nbsp;&nbsp;&nbsp; JSE Limited <br>(Capital Markets)<br>| 148972 | &nbsp;&nbsp; 1415 |
|  | &nbsp;&nbsp;&nbsp; Ninety One Limited <br>(Capital Markets)<br>| 384859 | &nbsp;&nbsp; 1168 |
|  | &nbsp;&nbsp;&nbsp; Pan African Resources PLC <br>(Metals & Mining)<br>| 1773439 | &nbsp;&nbsp; 3286 |
|  | &nbsp;&nbsp;&nbsp; Resilient REIT Limited <br>(Retail REITs)<br>| 261844 | &nbsp;&nbsp; 1247 |
|  | &nbsp;&nbsp;&nbsp; Vukile Property Fund Limited <br>(Retail REITs)<br>| 847970 | &nbsp;&nbsp; 1118 |
|  |  |  | &nbsp;&nbsp; 11155 |
|  | **Turkey—3.2%** | **Turkey—3.2%** | **Turkey—3.2%** |
|  | &nbsp;&nbsp;&nbsp; ASELSAN Elektronik Sanayi ve Ticaret <br> A.S. <br>(Aerospace & Defense)<br>| 462715 | &nbsp;&nbsp; 3327 |
|  | &nbsp;&nbsp;&nbsp; Astor Transformator Enerji Turizm Insaat <br> Ve Petrol Sanayi Ticaret A.S. <br>(Electrical Equipment)<br>| 758336 | &nbsp;&nbsp; 3342 |
|  | &nbsp;&nbsp;&nbsp; Emlak Konut Gayrimenkul Yatirim <br> Ortakligi A.S. <br>(Residential REITs)<br>| 3553900 | &nbsp;&nbsp; 1535 |
|  | &nbsp;&nbsp;&nbsp; Enka Insaat ve Sanayi Anonim Sirketi <br>(Construction & Engineering)<br>| 1392296 | &nbsp;&nbsp; 2940 |
|  | &nbsp;&nbsp;&nbsp; Turkiye Garanti Bankasi Anonim Sirketi <br>(Banks)<br>| 341464 | &nbsp;&nbsp; 979 |
|  |  |  | &nbsp;&nbsp; 12123 |
|  | **United Arab Emirates—1.9%** | **United Arab Emirates—1.9%** | **United Arab Emirates—1.9%** |
|  | &nbsp;&nbsp;&nbsp; Air Arabia PJSC <br>(Airlines)<br>| 2735381 | &nbsp;&nbsp; 3053 |
|  | &nbsp;&nbsp;&nbsp; Dubai Investments PJSC <br>(Industrial Conglomerates)<br>| 757946 | &nbsp;&nbsp; 792 |
|  | &nbsp;&nbsp;&nbsp; Emaar Development PJSC <br>(Real Estate Management & <br> Development)<br>| 524416 | &nbsp;&nbsp; 1985 |
|  | &nbsp;&nbsp;&nbsp; Sharjah Islamic Bank PJSC <br>(Banks)<br>| 1445203 | &nbsp;&nbsp; 1279 |
|  |  |  | &nbsp;&nbsp; 7109 |
|  | **Total Emerging Europe, Mid-East,** <br> **Africa**<br>|  | &nbsp;&nbsp; 70784 |
|  | ***Emerging Latin America—14.5%*** |  |  |
|  | **Argentina—0.4%** | **Argentina—0.4%** | **Argentina—0.4%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Corporacion America Airports S.A. <br>(Transportation Infrastructure)<br>| 67837 | &nbsp;&nbsp; 1716 |
|  | **Brazil—7.3%** | **Brazil—7.3%** | **Brazil—7.3%** |
|  | &nbsp;&nbsp;&nbsp; ALLOS S.A. <br>(Real Estate Management & <br> Development)<br>| 534600 | &nbsp;&nbsp; 3131 |

---

See accompanying Notes to Portfolio of Investments.

**51**

------

**Emerging Markets Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **Brazil—(continued)** | **Brazil—(continued)** | **Brazil—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Companhia de Saneamento de Minas <br> Gerais COPASA MG <br>(Water Utilities)<br>| 78900 | &nbsp;&nbsp; $879 |
|  | &nbsp;&nbsp;&nbsp; Companhia De Sanena Do Parana <br>(Water Utilities)<br>| 200100 | &nbsp;&nbsp; 1720 |
|  | &nbsp;&nbsp;&nbsp; Cury Construtora e Incorporadora SA <br>(Household Durables)<br>| 980000 | &nbsp;&nbsp; 6694 |
|  | &nbsp;&nbsp;&nbsp; Cyrela Brazil Realty SA Empreendimentos <br> e Participacoes <br>(Household Durables)<br>| 806800 | &nbsp;&nbsp; 4255 |
|  | &nbsp;&nbsp;&nbsp; Direcional Engenharia SA <br>(Household Durables)<br>| 1147500 | &nbsp;&nbsp; 2947 |
|  | &nbsp;&nbsp;&nbsp; EZ TEC Empreendimentos e Participacoes <br> S/A <br>(Household Durables)<br>| 151100 | &nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp; Multiplan Empreendimentos Imobiliarios <br> SA <br>(Real Estate Management & <br> Development)<br>| 281700 | &nbsp;&nbsp; 1730 |
| \* <br>| &nbsp;&nbsp;&nbsp; Orizon Valorizacao de Residuos S.A. <br>(Commercial Services & Supplies)<br>| 451800 | &nbsp;&nbsp; 6225 |
|  |  |  | &nbsp;&nbsp; 27989 |
|  | **Chile—1.6%** | **Chile—1.6%** | **Chile—1.6%** |
|  | &nbsp;&nbsp;&nbsp; Banco Itau Chile SA <br>(Banks)<br>| 41444 | &nbsp;&nbsp; 861 |
|  | &nbsp;&nbsp;&nbsp; Inversiones La Construccion S.A. <br>(Financial Services)<br>| 95851 | &nbsp;&nbsp; 2008 |
|  | &nbsp;&nbsp;&nbsp; Parque Arauco S.A. <br>(Real Estate Management & <br> Development)<br>| 320227 | &nbsp;&nbsp; 1307 |
|  | &nbsp;&nbsp;&nbsp; Plaza S.A. <br>(Real Estate Management & <br> Development)<br>| 426259 | &nbsp;&nbsp; 1814 |
|  |  |  | &nbsp;&nbsp; 5990 |
|  | **Mexico—1.7%** | **Mexico—1.7%** | **Mexico—1.7%** |
|  | &nbsp;&nbsp;&nbsp; Gentera S.A.B. de C.V. <br>(Consumer Finance)<br>| 1058500 | &nbsp;&nbsp; 3003 |
|  | &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte <br> S.A.B. de C.V. <br>(Transportation Infrastructure)<br>| 43000 | &nbsp;&nbsp; 617 |
|  | &nbsp;&nbsp;&nbsp; Promotora y Operadora de Infraestructura, <br> S.A.B. de C.V. <br>(Transportation Infrastructure)<br>| 170005 | &nbsp;&nbsp; 2754 |
|  |  |  | &nbsp;&nbsp; 6374 |
|  | **Panama—0.8%** | **Panama—0.8%** | **Panama—0.8%** |
|  | &nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio <br> Exterior, S.A. <br>(Financial Services)<br>| 57723 | &nbsp;&nbsp; 2948 |
|  | **Peru—1.9%** | **Peru—1.9%** | **Peru—1.9%** |
|  | &nbsp;&nbsp;&nbsp; Hochschild Mining PLC <br>(Metals & Mining)<br>| 209581 | &nbsp;&nbsp; 1677 |
|  | &nbsp;&nbsp;&nbsp; Intercorp Financial Services Inc <br>(Banks)<br>| 109594 | &nbsp;&nbsp; 5501 |
|  |  |  | &nbsp;&nbsp; 7178 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| &nbsp;&nbsp; **Shares or**<br> **Principal**<br> **Amount** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Latin*** <br> ***America—(continued)***<br>|  |  |
|  | **United States—0.8%** | **United States—0.8%** | **United States—0.8%** |
|  | &nbsp;&nbsp;&nbsp; Aura Minerals Inc. <br>(Metals & Mining)<br>| 38591 | &nbsp;&nbsp; $3149 |
|  | **Total Emerging Latin America** |  | &nbsp;&nbsp; 55344 |
|  | ***United Kingdom—1.6%*** |  |  |
|  | &nbsp;&nbsp;&nbsp; Airtel Africa PLC <br>(Wireless Telecommunication Services)<br>| 929278 | &nbsp;&nbsp; 4285 |
| \* <br>| &nbsp;&nbsp;&nbsp; Helios Towers PLC <br>(Diversified Telecommunication <br> Services)<br>| 786337 | &nbsp;&nbsp; 1893 |
|  | **Total United Kingdom** |  | &nbsp;&nbsp; 6178 |
|  | ***Western Hemisphere—1.6%*** |  |  |
|  | **United States—1.6%** | **United States—1.6%** | **United States—1.6%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Laureate Education, Inc. <br>(Diversified Consumer Services)<br>| 81735 | &nbsp;&nbsp; 2848 |
|  | &nbsp;&nbsp;&nbsp; PriceSmart, Inc. <br>(Consumer Staples Distribution & <br> Retail)<br>| 20330 | &nbsp;&nbsp; 3060 |
|  | **Total Western Hemisphere** |  | &nbsp;&nbsp; 5908 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—98.4%** <br>(cost $336,317)<br>|  | &nbsp;&nbsp; 375190 |
|  | ***Preferred Stocks*** | ***Preferred Stocks*** | ***Preferred Stocks*** |
|  | ***Emerging Latin America—0.5%*** |  |  |
|  | **Brazil—0.5%** | **Brazil—0.5%** | **Brazil—0.5%** |
|  | &nbsp;&nbsp;&nbsp; Alpargatas S.A. <br>(Textiles, Apparel & Luxury Goods)<br>| 675000 | &nbsp;&nbsp; 1616 |
| \* <br>| &nbsp;&nbsp;&nbsp; Cyrela Brazil Realty S.A. <br> Empreendimentos e Participacoes <br>(Household Durables)<br>| 58953 | &nbsp;&nbsp; 288 |
|  |  |  | &nbsp;&nbsp; 1904 |
|  |  |  | &nbsp;&nbsp; 1904 |
|  | &nbsp;&nbsp;&nbsp; **Total Preferred Stocks—0.5%** <br>(cost $2,126)<br>|  | &nbsp;&nbsp; 1904 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ***Repurchase Agreements*** | ***Repurchase Agreements*** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, 1.150% <br> dated 03/31/26, due 04/01/26, repurchase <br> price $850, collateralized by <br> U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $867<br>| &nbsp;&nbsp; 850 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—0.2%** <br>(cost $850)<br>| &nbsp;&nbsp; 850 |
| &nbsp;&nbsp;&nbsp; **Total Investments—99.1%** <br>(cost $339,293)<br>| &nbsp;&nbsp; 377944 |
| **Cash and other assets,** <br>**less liabilities—0.9%**<br>| &nbsp;&nbsp; 3360 |
| **Net Assets—100.0%** | &nbsp;&nbsp; $381304 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company <br> REIT Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security

See accompanying Notes to Portfolio of Investments.

**52**

------

**Emerging Markets Small Cap Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $60570 | &nbsp;&nbsp; $314620 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $375190 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | 1904 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1904 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 850 | &nbsp;&nbsp; — | &nbsp;&nbsp; 850 |
| **Total Investments in Securities** | $62474 | &nbsp;&nbsp; $315470 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $377944 |

---

See accompanying Notes to Portfolio of Investments.

**53**

------

**China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Issuer**<br>| **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
|  | ***Common Stocks*** | ***Common Stocks*** | ***Common Stocks*** |
|  | ***Emerging Asia—96.2%*** |  |  |
|  | **China—96.2%** | **China—96.2%** | **China—96.2%** |
|  | &nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd. <br>(Banks)<br>| 61000 | &nbsp;&nbsp; $44 |
|  | &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. <br>(Broadline Retail)<br>| 11076 | &nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp; Aluminum Corporation of China Limited <br>(Metals & Mining)<br>| 10000 | &nbsp;&nbsp; 15 |
|  | &nbsp;&nbsp;&nbsp; Atour Lifestyle Holdings Ltd.—ADR <br>(Hotels, Restaurants & Leisure)<br>| 969 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp; Bank of Ningbo Co. Ltd. <br>(Banks)<br>| 6990 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp; Beijing Huafeng Test & Control Technology <br> Co., Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 530 | &nbsp;&nbsp; 20 |
| \* <br>| &nbsp;&nbsp;&nbsp; BeOne Medicines Ltd <br>(Biotechnology)<br>| 700 | &nbsp;&nbsp; 16 |
|  | &nbsp;&nbsp;&nbsp; China Life Insurance Company Limited <br>(Insurance)<br>| 7000 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd. <br>(Banks)<br>| 7000 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 3500 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp; China Tungsten And Hightech Materials Co.,Ltd <br>(Metals & Mining)<br>| 2800 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp; CMOC Group Limited <br>(Metals & Mining)<br>| 9000 | &nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. Ltd. <br>(Electrical Equipment)<br>| 1640 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp; COSCO SHIPPING Energy Transportation Co., <br> Ltd. <br>(Oil, Gas & Consumable Fuels)<br>| 6000 | &nbsp;&nbsp; 14 |
|  | &nbsp;&nbsp;&nbsp; East Money Information Co.,Ltd. <br>(Capital Markets)<br>| 7200 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp; Eastroc Beverage Group Co. Ltd. <br>(Beverages)<br>| 490 | &nbsp;&nbsp; 15 |
|  | &nbsp;&nbsp;&nbsp; ENN Natural Gas Co., Ltd. <br>(Gas Utilities)<br>| 4700 | &nbsp;&nbsp; 15 |
|  | &nbsp;&nbsp;&nbsp; Eoptolink Technology Inc., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 940 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 4300 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd. <br>(Auto Components)<br>| 3800 | &nbsp;&nbsp; 29 |
|  | &nbsp;&nbsp;&nbsp; GigaDevice Semiconductor Inc. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 1200 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp; Hansoh Pharmaceutical Group Company <br> Limited <br>(Pharmaceuticals)<br>| 4000 | &nbsp;&nbsp; 18 |
|  | &nbsp;&nbsp;&nbsp; Huaming Power Equipment Co. Ltd. <br>(Machinery)<br>| 8200 | &nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp; Industrial and Commercial Bank of China <br> Limited <br>(Banks)<br>| 45000 | &nbsp;&nbsp; 40 |
| \* <br>| &nbsp;&nbsp;&nbsp; Innovent Biologics, Inc. <br>(Biotechnology)<br>| 1500 | &nbsp;&nbsp; 16 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Emerging Asia—(continued)*** |  |  |
|  | **China—(continued)** | **China—(continued)** | **China—(continued)** |
|  | &nbsp;&nbsp;&nbsp; Jiangsu Hengli Hydraulic Co., Ltd. <br>(Machinery)<br>| 1200 | &nbsp;&nbsp; $17 |
|  | &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co.,Ltd <br>(Pharmaceuticals)<br>| 3200 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp; Jones Tech PLC <br>(Electronic Equipment, Instruments & <br> Components)<br>| 2300 | &nbsp;&nbsp; 16 |
| \* <br>| &nbsp;&nbsp;&nbsp; Knowledge Atlas Technology Joint Stock <br> Company Limited <br>(Software)<br>| 400 | &nbsp;&nbsp; 35 |
|  | &nbsp;&nbsp;&nbsp; Laopu Gold Co., Ltd. <br>(Textiles, Apparel & Luxury Goods)<br>| 300 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp; Mao Geping Cosmetics CO.,LTD. <br>(Personal Care Products)<br>| 1300 | &nbsp;&nbsp; 13 |
| \* <br>| &nbsp;&nbsp;&nbsp; MiniMax Group Inc. <br>(Software)<br>| 220 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp; NetEase, Inc. <br>(Entertainment)<br>| 1900 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp; PICC Property and Casualty Company Limited <br>(Insurance)<br>| 14000 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp; Pop Mart International Group Ltd. <br>(Specialty Retail)<br>| 1800 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp; Shanghai Conant Optical Co., Ltd. <br>(Health Care Equipment & Supplies)<br>| 2000 | &nbsp;&nbsp; 12 |
| \* <br>| &nbsp;&nbsp;&nbsp; Shanghai Iluvatar CoreX Semiconductor Co., <br> Ltd. <br>(Semiconductors & Semiconductor <br> Equipment)<br>| 400 | &nbsp;&nbsp; 11 |
|  | &nbsp;&nbsp;&nbsp; Shengyi Technology Co.,Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 4100 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp; Shenzhen Envicool Technology Co., Ltd. <br>(Machinery)<br>| 2000 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp; Shenzhen Inovance Technology Co. Ltd. <br>(Machinery)<br>| 4100 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp; Sieyuan Electric Co., Ltd. <br>(Electrical Equipment)<br>| 1800 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp; Tencent Holdings Limited <br>(Interactive Media & Services)<br>| 3900 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp; Victory Giant Technology (HuiZhou) Co., Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 600 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd. <br>(Machinery)<br>| 5000 | &nbsp;&nbsp; 18 |
|  | &nbsp;&nbsp;&nbsp; WUS Printed Circuit Kunshan Co. Ltd. <br>(Electronic Equipment, Instruments & <br> Components)<br>| 4200 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp; WuXi AppTec Co., Ltd. <br>(Life Sciences Tools & Services)<br>| 2100 | &nbsp;&nbsp; 31 |
| \* <br>| &nbsp;&nbsp;&nbsp; WuXi XDC Cayman Inc. <br>(Life Sciences Tools & Services)<br>| 2000 | &nbsp;&nbsp; 15 |
|  | &nbsp;&nbsp;&nbsp; Yutong Bus Co. Ltd. <br>(Machinery)<br>| 7100 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp; Zhongji Innolight Co. Ltd. <br>(Communications Equipment)<br>| 700 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp; Zijin Mining Group Company Limited <br>(Metals & Mining)<br>| 14000 | &nbsp;&nbsp; 63 |
|  | **Total Emerging Asia** |  | &nbsp;&nbsp; 1869 |

---

See accompanying Notes to Portfolio of Investments.

**54**

------

**China Growth Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Issuer**<br>| **Shares** | <br>**Value**<br>|
|  | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** | ***Common Stocks—(continued)*** |
|  | ***Asia Ex-Japan—2.9%*** |  |  |
|  | **Hong Kong—2.9%** | **Hong Kong—2.9%** | **Hong Kong—2.9%** |
| \* <br>| &nbsp;&nbsp;&nbsp; Futu Holdings Ltd.—ADR <br>(Capital Markets)<br>| 157 | &nbsp;&nbsp; $22 |
|  | &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. <br>(Capital Markets)<br>| 700 | &nbsp;&nbsp; 35 |
|  | **Total Asia Ex-Japan** |  | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp; **Total Common Stocks—99.1%** <br>(cost $1,531)<br>|  | &nbsp;&nbsp; 1926 |
|  | &nbsp;&nbsp;&nbsp; **Total Investments—99.1%** <br>(cost $1,531)<br>|  | &nbsp;&nbsp; 1926 |
|  | **Cash and other assets,** <br>**less liabilities—0.9%**<br>|  | &nbsp;&nbsp; 18 |
|  | **Net Assets—100.0%** |  | &nbsp;&nbsp; $1944 |

---

------

ADR American Depositary Receipt <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Common Stocks | $145 | &nbsp;&nbsp; $1781 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1926 |

---

See accompanying Notes to Portfolio of Investments.

**55**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal** <br>**Amount** | **Value** |
| **Foreign Government Bonds—67.0%** | **Foreign Government Bonds—67.0%** | **Foreign Government Bonds—67.0%** |
| **Angola—1.1%** | **Angola—1.1%** | **Angola—1.1%** |
| &nbsp;&nbsp;&nbsp; Angola Government International Bond, <br>9.125%, due 11/26/49<br>| $300 | &nbsp;&nbsp; $260 |
| Angolan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 8.250%, due 5/9/28 | 300 | &nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp; 9.375%, due 3/31/33 | 300 | &nbsp;&nbsp; 295 |
|  |  | &nbsp;&nbsp; 857 |
| **Argentina—4.2%** | **Argentina—4.2%** | **Argentina—4.2%** |
| &nbsp;&nbsp;&nbsp; Argentina Government Bond, <br>29.500%, due 5/30/30<br>| 620000 | &nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp; Argentina Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.000%, due 12/15/35<sup>(a)</sup> | 1140 | &nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; 0.000%, due 12/15/35<sup>(a)</sup> | $3480 | &nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; 1.000%, due 7/9/29 | 102 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; 1.750%, due 7/9/30<sup>(a)</sup> | 893 | &nbsp;&nbsp; 748 |
| &nbsp;&nbsp;&nbsp; 4.250%, due 1/9/38<sup>(a)</sup> | 350 | &nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp; 4.875%, due 7/9/41<sup>(a)</sup> | $920 | &nbsp;&nbsp; 615 |
| &nbsp;&nbsp;&nbsp; 5.000%, due 7/9/46<sup>(a)</sup> | 1072 | &nbsp;&nbsp; 736 |
|  |  | &nbsp;&nbsp; 3220 |
| **Bahrain—1.9%** | **Bahrain—1.9%** | **Bahrain—1.9%** |
| Bahrain Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 4.250%, due 1/25/28 | 300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp; 6.000%, due 9/19/44 | 750 | &nbsp;&nbsp; 604 |
| &nbsp;&nbsp;&nbsp; 6.750%, due 9/20/29 | 550 | &nbsp;&nbsp; 540 |
|  |  | &nbsp;&nbsp; 1428 |
| **Barbados—0.7%** | **Barbados—0.7%** | **Barbados—0.7%** |
| Barbados Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 8.000%, due 6/26/35<sup>(b)</sup> | 200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; 8.000%, due 6/26/35 | 300 | &nbsp;&nbsp; 306 |
|  |  | &nbsp;&nbsp; 510 |
| **Benin—0.3%** | **Benin—0.3%** | **Benin—0.3%** |
| &nbsp;&nbsp;&nbsp; Benin Government International Bond, <br>6.875%, due 1/19/52<br>| 250 | &nbsp;&nbsp; 245 |
| **Bermuda—0.4%** | **Bermuda—0.4%** | **Bermuda—0.4%** |
| &nbsp;&nbsp;&nbsp; Bermuda Government International Bond, <br>3.375%, due 8/20/50<br>| $500 | &nbsp;&nbsp; 342 |
| **Bosnia & Herzegovina—0.4%** | **Bosnia & Herzegovina—0.4%** | **Bosnia & Herzegovina—0.4%** |
| &nbsp;&nbsp;&nbsp; Federation of Bosnia and Herzegovina, <br>5.500%, due 7/17/30<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 298 |
| **Brazil—2.5%** | **Brazil—2.5%** | **Brazil—2.5%** |
| Brazil Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 4.750%, due 1/14/50 | $1150 | &nbsp;&nbsp; 829 |
| &nbsp;&nbsp;&nbsp; 7.250%, due 1/12/56 | 300 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp; Brazil Letras do Tesouro Nacional, <br>0.010%, due 1/1/32<br>| 7400 | &nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional, <br>10.000%, due 1/1/33<br>| 610 | &nbsp;&nbsp; 99 |
|  |  | &nbsp;&nbsp; 1898 |
| **Bulgaria—0.4%** | **Bulgaria—0.4%** | **Bulgaria—0.4%** |
| &nbsp;&nbsp;&nbsp; Bulgaria Government International Bond, <br>3.500%, due 5/7/34<br>| 300 | &nbsp;&nbsp; 339 |
| **Cameroon—0.4%** | **Cameroon—0.4%** | **Cameroon—0.4%** |
| &nbsp;&nbsp;&nbsp; Cameroon Government International <br> Bond, <br>5.950%, due 7/7/32<br>| 300 | &nbsp;&nbsp; 298 |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** |
| **Chile—1.2%** | **Chile—1.2%** | **Chile—1.2%** |
| &nbsp;&nbsp;&nbsp; Chile Government International Bond, <br>2.550%, due 7/27/33<br>| $1100 | &nbsp;&nbsp; $939 |
| **Colombia—2.6%** | **Colombia—2.6%** | **Colombia—2.6%** |
| &nbsp;&nbsp;&nbsp; Colombia Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.125%, due 2/22/42 | 600 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; 4.125%, due 5/15/51 | 450 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp; 5.200%, due 5/15/49 | 290 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; Colombia Treasury Bond, <br>7.250%, due 10/26/50<br>| 3250000 | &nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp; Colombian TES, <br>12.500%, due 2/27/30<br>| 2350000 | &nbsp;&nbsp; 608 |
|  |  | &nbsp;&nbsp; 2007 |
| **Costa Rica—0.4%** | **Costa Rica—0.4%** | **Costa Rica—0.4%** |
| &nbsp;&nbsp;&nbsp; Costa Rica International Bond, <br>7.300%, due 11/13/54<br>| $250 | &nbsp;&nbsp; 271 |
| **Dominican Republic—1.5%** | **Dominican Republic—1.5%** | **Dominican Republic—1.5%** |
| Dominican Republic International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 4.875%, due 9/23/32 | 300 | &nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; 5.875%, due 1/30/60 | 200 | &nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; 6.150%, due 5/17/38 | 300 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; 10.500%, due 3/15/37<sup>(b)</sup> | 25000 | &nbsp;&nbsp; 427 |
|  |  | &nbsp;&nbsp; 1154 |
| **Ecuador—2.6%** | **Ecuador—2.6%** | **Ecuador—2.6%** |
| Ecuador Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 0.010%, due 7/31/30 | $450 | &nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp; 6.900%, due 7/31/35<sup>(a)</sup> | 220 | &nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp; 6.900%, due 7/31/40<sup>(a)</sup> | 1800 | &nbsp;&nbsp; 1402 |
|  |  | &nbsp;&nbsp; 1971 |
| **Egypt—2.5%** | **Egypt—2.5%** | **Egypt—2.5%** |
| Egypt Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 5.625%, due 4/16/30 | 400 | &nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp; 5.800%, due 9/30/27 | $900 | &nbsp;&nbsp; 886 |
| &nbsp;&nbsp;&nbsp; 7.500%, due 2/16/61 | 800 | &nbsp;&nbsp; 608 |
|  |  | &nbsp;&nbsp; 1926 |
| **El Salvador—0.7%** | **El Salvador—0.7%** | **El Salvador—0.7%** |
| &nbsp;&nbsp;&nbsp; El Salvador Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.250%, due 4/17/30<sup>(b)</sup> | 200 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; 0.250%, due 4/17/30 | 3055 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; 7.125%, due 1/20/50 | 445 | &nbsp;&nbsp; 378 |
|  |  | &nbsp;&nbsp; 498 |
| **Gabon—0.8%** | **Gabon—0.8%** | **Gabon—0.8%** |
| &nbsp;&nbsp;&nbsp; Gabon Government International Bond, <br>7.000%, due 11/24/31<br>| 700 | &nbsp;&nbsp; 579 |
| **Ghana—1.4%** | **Ghana—1.4%** | **Ghana—1.4%** |
| Ghana Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 0.000%, due 7/3/26<sup>(b)</sup> | 100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; 6.000%, due 7/3/29<sup>(a)</sup>,<sup>(b)</sup> | 228 | &nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp; 6.000%, due 7/3/35<sup>(a)</sup> | 900 | &nbsp;&nbsp; 765 |
|  |  | &nbsp;&nbsp; 1080 |
| **Guatemala—1.5%** | **Guatemala—1.5%** | **Guatemala—1.5%** |
| &nbsp;&nbsp;&nbsp; Guatemala Government Bond, <br>6.550%, due 2/6/37<br>| 290 | &nbsp;&nbsp; 301 |

---

See accompanying Notes to Portfolio of Investments.

**56**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** |
| **Guatemala—(continued)** | **Guatemala—(continued)** | **Guatemala—(continued)** |
| &nbsp;&nbsp;&nbsp; Guatemala Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.700%, due 10/7/33 | $800 | &nbsp;&nbsp; $698 |
| &nbsp;&nbsp;&nbsp; 4.650%, due 10/7/41 | 200 | &nbsp;&nbsp; 168 |
|  |  | &nbsp;&nbsp; 1167 |
| **Hungary—2.2%** | **Hungary—2.2%** | **Hungary—2.2%** |
| Hungary Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 1.500%, due 11/17/50 | 200 | &nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp; 3.125%, due 9/21/51 | $700 | &nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp; 4.000%, due 4/28/51 | 385000 | &nbsp;&nbsp; 739 |
| &nbsp;&nbsp;&nbsp; 6.125%, due 5/22/28 | $400 | &nbsp;&nbsp; 409 |
|  |  | &nbsp;&nbsp; 1676 |
| **Indonesia—1.4%** | **Indonesia—1.4%** | **Indonesia—1.4%** |
| &nbsp;&nbsp;&nbsp; Indonesia Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.850%, due 10/15/30 | 200 | &nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; 4.750%, due 9/10/34 | 450 | &nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp; 4.900%, due 4/16/36 | 200 | &nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; Perusahaan Penerbit SBSN Indonesia III, <br>4.700%, due 6/6/32<br>| 280 | &nbsp;&nbsp; 275 |
|  |  | &nbsp;&nbsp; 1090 |
| **Ivory Coast—0.6%** | **Ivory Coast—0.6%** | **Ivory Coast—0.6%** |
| &nbsp;&nbsp;&nbsp; Ivory Coast Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.625%, due 3/22/48 | 300 | &nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp; 6.750%, due 2/25/41 | $200 | &nbsp;&nbsp; 175 |
|  |  | &nbsp;&nbsp; 474 |
| **Jamaica—0.6%** | **Jamaica—0.6%** | **Jamaica—0.6%** |
| &nbsp;&nbsp;&nbsp; Jamaica Government International Bond, <br>9.625%, due 11/3/30<br>| 67500 | &nbsp;&nbsp; 448 |
| **Kazakhstan—0.4%** | **Kazakhstan—0.4%** | **Kazakhstan—0.4%** |
| &nbsp;&nbsp;&nbsp; Kazakhstan Government Bond, <br>12.000%, due 2/22/31<br>| 175000 | &nbsp;&nbsp; 322 |
| **Kenya—0.5%** | **Kenya—0.5%** | **Kenya—0.5%** |
| &nbsp;&nbsp;&nbsp; Kenya Government International Bond, <br>6.300%, due 1/23/34<br>| $250 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government <br> International Bond, <br>8.700%, due 2/26/39<br>| 200 | &nbsp;&nbsp; 181 |
|  |  | &nbsp;&nbsp; 388 |
| **Kyrgyzstan—0.7%** | **Kyrgyzstan—0.7%** | **Kyrgyzstan—0.7%** |
| &nbsp;&nbsp;&nbsp; Kyrgyzstan Government Bond, <br>7.750%, due 6/3/30<sup>(b)</sup><br>| 550 | &nbsp;&nbsp; 548 |
| **Laos—0.3%** | **Laos—0.3%** | **Laos—0.3%** |
| &nbsp;&nbsp;&nbsp; Laos Government International Bond, <br>11.250%, due 11/12/30<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 204 |
| **Lebanon—0.5%** | **Lebanon—0.5%** | **Lebanon—0.5%** |
| Lebanon Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 6.600%, due 11/27/26<sup>(c)</sup> | 300 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; 8.200%, due 5/17/33<sup>(c)</sup> | 1260 | &nbsp;&nbsp; 301 |
|  |  | &nbsp;&nbsp; 372 |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** |
| **Mexico—1.9%** | **Mexico—1.9%** | **Mexico—1.9%** |
| Mexico Goverment Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 3.750%, due 4/19/71 | $2050 | &nbsp;&nbsp; $1175 |
| &nbsp;&nbsp;&nbsp; 7.750%, due 11/13/42 | 5400 | &nbsp;&nbsp; 250 |
|  |  | &nbsp;&nbsp; 1425 |
| **Mongolia—0.8%** | **Mongolia—0.8%** | **Mongolia—0.8%** |
| &nbsp;&nbsp;&nbsp; Mongolia Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.500%, due 7/7/27 | $450 | &nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp; 6.625%, due 2/25/30 | 200 | &nbsp;&nbsp; 203 |
|  |  | &nbsp;&nbsp; 639 |
| **Montenegro—0.4%** | **Montenegro—0.4%** | **Montenegro—0.4%** |
| &nbsp;&nbsp;&nbsp; Montenegro Government International <br> Bond, <br>7.250%, due 3/12/31<br>| 300 | &nbsp;&nbsp; 311 |
| **Morocco—0.9%** | **Morocco—0.9%** | **Morocco—0.9%** |
| Morocco Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 3.000%, due 12/15/32 | 600 | &nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp; 4.000%, due 12/15/50 | 200 | &nbsp;&nbsp; 138 |
|  |  | &nbsp;&nbsp; 652 |
| **Nigeria—2.2%** | **Nigeria—2.2%** | **Nigeria—2.2%** |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, <br>7.625%, due 11/28/47<br>| 1400 | &nbsp;&nbsp; 1274 |
| &nbsp;&nbsp;&nbsp; Nigeria OMO Bill, <br>0.000%, due 7/14/26<br>| 570000 | &nbsp;&nbsp; 389 |
|  |  | &nbsp;&nbsp; 1663 |
| **North Macedonia—0.4%** | **North Macedonia—0.4%** | **North Macedonia—0.4%** |
| &nbsp;&nbsp;&nbsp; North Macedonia Government <br> International Bond, <br>4.750%, due 1/21/34<br>| 300 | &nbsp;&nbsp; 328 |
| **Oman—2.0%** | **Oman—2.0%** | **Oman—2.0%** |
| &nbsp;&nbsp;&nbsp; Oman Government International Bond, <br>6.750%, due 1/17/48<br>| $1450 | &nbsp;&nbsp; 1512 |
| **Pakistan—1.4%** | **Pakistan—1.4%** | **Pakistan—1.4%** |
| Pakistan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 6.000%, due 4/8/26 | 200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; 6.875%, due 12/5/27 | 500 | &nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp; Pakistan Treasury Bills, <br>0.000%, due 10/29/26<br>| 110000 | &nbsp;&nbsp; 369 |
|  |  | &nbsp;&nbsp; 1062 |
| **Panama—1.2%** | **Panama—1.2%** | **Panama—1.2%** |
| Panama Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 2.252%, due 9/29/32 | $200 | &nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp; 3.870%, due 7/23/60 | 830 | &nbsp;&nbsp; 539 |
| &nbsp;&nbsp;&nbsp; 5.662%, due 2/23/38 | 200 | &nbsp;&nbsp; 192 |
|  |  | &nbsp;&nbsp; 895 |
| **Paraguay—1.4%** | **Paraguay—1.4%** | **Paraguay—1.4%** |
| Paraguay Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 5.400%, due 3/30/50 | 950 | &nbsp;&nbsp; 846 |
| &nbsp;&nbsp;&nbsp; 8.500%, due 3/4/35<sup>(b)</sup> | 1250000 | &nbsp;&nbsp; 191 |
|  |  | &nbsp;&nbsp; 1037 |
| **Peru—1.7%** | **Peru—1.7%** | **Peru—1.7%** |
| Peru Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 2.783%, due 1/23/31 | $260 | &nbsp;&nbsp; 237 |

---

See accompanying Notes to Portfolio of Investments.

**57**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** |
| **Peru—(continued)** | **Peru—(continued)** | **Peru—(continued)** |
| &nbsp;&nbsp;&nbsp; 3.230%, due 7/28/21 | $930 | &nbsp;&nbsp; $496 |
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, <br>3.000%, due 1/15/34<br>| 650 | &nbsp;&nbsp; 556 |
|  |  | &nbsp;&nbsp; 1289 |
| **Philippines—1.3%** | **Philippines—1.3%** | **Philippines—1.3%** |
| &nbsp;&nbsp;&nbsp; Philippines Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 1.648%, due 6/10/31 | 250 | &nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp; 3.700%, due 2/2/42 | 700 | &nbsp;&nbsp; 557 |
| &nbsp;&nbsp;&nbsp; 5.500%, due 2/4/35 | 200 | &nbsp;&nbsp; 202 |
|  |  | &nbsp;&nbsp; 973 |
| **Poland—1.2%** | **Poland—1.2%** | **Poland—1.2%** |
| Poland Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 5.125%, due 9/18/34 | 400 | &nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp; 5.500%, due 4/4/53 | 350 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; 5.500%, due 3/18/54 | 200 | &nbsp;&nbsp; 184 |
|  |  | &nbsp;&nbsp; 907 |
| **Romania—2.4%** | **Romania—2.4%** | **Romania—2.4%** |
| Romania Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 2.875%, due 4/13/42 | 530 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp; 5.250%, due 11/25/27 | $400 | &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp; 5.625%, due 2/22/36<sup>(b)</sup> | 550 | &nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp; 5.625%, due 5/30/37<sup>(b)</sup> | 150 | &nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Romanian Government International <br> Bond, <br>4.625%, due 4/3/49<br>| 300 | &nbsp;&nbsp; 260 |
|  |  | &nbsp;&nbsp; 1815 |
| **Saudi Arabia—0.3%** | **Saudi Arabia—0.3%** | **Saudi Arabia—0.3%** |
| &nbsp;&nbsp;&nbsp; Saudi Arabia Government International <br> Bond, <br>3.450%, due 2/2/61<br>| $400 | &nbsp;&nbsp; 247 |
| **Senegal—0.3%** | **Senegal—0.3%** | **Senegal—0.3%** |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, <br>6.750%, due 3/13/48<br>| 500 | &nbsp;&nbsp; 252 |
| **South Africa—1.0%** | **South Africa—1.0%** | **South Africa—1.0%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa Government <br> International Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.000%, due 10/12/46 | 400 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp; 7.250%, due 12/11/55<sup>(b)</sup> | 550 | &nbsp;&nbsp; 503 |
|  |  | &nbsp;&nbsp; 790 |
| **Sri Lanka—1.8%** | **Sri Lanka—1.8%** | **Sri Lanka—1.8%** |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International <br> Bond,<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.350%, due 1/15/30<sup>(a)</sup>,<sup>(b)</sup> | 260 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp; 3.350%, due 3/15/33<sup>(a)</sup> | 160 | &nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; 3.600%, due 6/15/35<sup>(a)</sup> | 200 | &nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; 4.000%, due 4/15/28 | 292 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp; 8.750%, due 3/15/33<sup>(a)</sup>,<sup>(b)</sup> | 300 | &nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; 9.750%, due 2/15/38<sup>(a)</sup>,<sup>(b)</sup> | 200 | &nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; 11.000%, due 12/15/29 | 45000 | &nbsp;&nbsp; 148 |
|  |  | &nbsp;&nbsp; 1379 |
| **Suriname—1.0%** | **Suriname—1.0%** | **Suriname—1.0%** |
| &nbsp;&nbsp;&nbsp; Suriname Government International Bond, <br>8.500%, due 11/6/35<sup>(b)</sup><br>| $700 | &nbsp;&nbsp; 724 |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** | **Foreign Government Bonds—(continued)** |
| **Trinidad and Tobago—0.9%** | **Trinidad and Tobago—0.9%** | **Trinidad and Tobago—0.9%** |
| &nbsp;&nbsp;&nbsp; Trinidad & Tobago Government <br> International Bond, <br>6.500%, due 1/28/36<br>| $350 | &nbsp;&nbsp; $347 |
| &nbsp;&nbsp;&nbsp; Trinidad and Tobago Government <br> International Bond, <br>6.400%, due 6/26/34<br>| 310 | &nbsp;&nbsp; 308 |
|  |  | &nbsp;&nbsp; 655 |
| **Tunisia—0.5%** | **Tunisia—0.5%** | **Tunisia—0.5%** |
| &nbsp;&nbsp;&nbsp; Tunisian Government Bond, <br>6.375%, due 7/15/26<br>| 320 | &nbsp;&nbsp; 368 |
| **Turkey—2.1%** | **Turkey—2.1%** | **Turkey—2.1%** |
| Turkey Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 4.875%, due 4/16/43 | $600 | &nbsp;&nbsp; 421 |
| &nbsp;&nbsp;&nbsp; 5.250%, due 3/13/30 | 900 | &nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp; Turkiye Government International Bond, <br>6.300%, due 3/14/33<br>| 300 | &nbsp;&nbsp; 283 |
|  |  | &nbsp;&nbsp; 1563 |
| **Uganda—0.4%** | **Uganda—0.4%** | **Uganda—0.4%** |
| &nbsp;&nbsp;&nbsp; Uganda Government Bond, <br>15.000%, due 6/18/43<br>| 1200000 | &nbsp;&nbsp; 295 |
| **Ukraine—1.4%** | **Ukraine—1.4%** | **Ukraine—1.4%** |
| Ukraine Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 4.000%, due 2/1/32<sup>(a)</sup>,<sup>(b)</sup> | $570 | &nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp; 7.750%, due 2/1/36<sup>(a)</sup> | 1000 | &nbsp;&nbsp; 511 |
| &nbsp;&nbsp;&nbsp; 7.750%, due 2/1/36<sup>(a)</sup> | 300 | &nbsp;&nbsp; 137 |
|  |  | &nbsp;&nbsp; 1058 |
| **Uruguay—1.4%** | **Uruguay—1.4%** | **Uruguay—1.4%** |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay, <br>5.250%, due 9/10/60<br>| 380 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp; Uruguay Government International Bond, <br>9.750%, due 7/20/33<br>| 27000 | &nbsp;&nbsp; 736 |
|  |  | &nbsp;&nbsp; 1080 |
| **Uzbekistan—0.6%** | **Uzbekistan—0.6%** | **Uzbekistan—0.6%** |
| &nbsp;&nbsp;&nbsp; Republic of Uzbekistan International <br> Bond, <br>3.900%, due 10/19/31<br>| $250 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp; Uzbekistan Government International <br> Bond, <br>5.375%, due 5/29/27<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 233 |
|  |  | &nbsp;&nbsp; 458 |
| **Venezuela—0.3%** | **Venezuela—0.3%** | **Venezuela—0.3%** |
| &nbsp;&nbsp;&nbsp; Venezuela Government International <br> Bond, <br>11.950%, due 8/5/31<sup>(c)</sup><br>| $500 | &nbsp;&nbsp; 254 |
| **Zambia—1.1%** | **Zambia—1.1%** | **Zambia—1.1%** |
| Zambia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp; 0.500%, due 12/31/53 | 125 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp; 5.750%, due 6/30/33<sup>(a)</sup> | 424 | &nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; 21.800%, due 3/17/40 | 5400 | &nbsp;&nbsp; 350 |
|  |  | &nbsp;&nbsp; 829 |
| **Total Foreign Government Bonds** |  | &nbsp;&nbsp; 51009 |

---

See accompanying Notes to Portfolio of Investments.

**58**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Corporate Bonds—23.6%** | **Foreign Corporate Bonds—23.6%** | **Foreign Corporate Bonds—23.6%** |
| **Angola—0.5%** | **Angola—0.5%** | **Angola—0.5%** |
| &nbsp;&nbsp;&nbsp; Avenir Issuer III (Ireland) Designated <br> Activity Company, <br>6.000%, due 3/22/27<br>| $166 | &nbsp;&nbsp; $163 |
| &nbsp;&nbsp;&nbsp; Avenir Issuer IV (Ireland) Designated <br> Activity Company, <br>6.000%, due 12/30/27<br>| 209 | &nbsp;&nbsp; 203 |
|  |  | &nbsp;&nbsp; 366 |
| **Brazil—1.3%** | **Brazil—1.3%** | **Brazil—1.3%** |
| &nbsp;&nbsp;&nbsp; Aegea Finance S.a r.l., <br>7.625%, due 1/20/36<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Brazil Minas SPE via State of Minas <br> Gerais, <br>5.333%, due 2/15/28<br>| 138 | &nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; LD Celulose International GmbH, <br>7.950%, due 1/26/32<br>| 250 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp; PRIO Luxembourg Holding Sarl, <br>6.750%, due 10/15/30<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA, <br>6.700%, due 2/25/37<br>| 400 | &nbsp;&nbsp; 217 |
|  |  | &nbsp;&nbsp; 1029 |
| **Chile—1.3%** | **Chile—1.3%** | **Chile—1.3%** |
| Corp. Nacional del Cobre de Chile, |  |  |
| &nbsp;&nbsp;&nbsp; 3.700%, due 1/30/50 | 410 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp; 6.440%, due 1/26/36<sup>(b)</sup> | 400 | &nbsp;&nbsp; 421 |
| &nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile SA, <br>5.625%, due 4/22/56<br>| 300 | &nbsp;&nbsp; 293 |
|  |  | &nbsp;&nbsp; 992 |
| **China—0.5%** | **China—0.5%** | **China—0.5%** |
| &nbsp;&nbsp;&nbsp; China Oil & Gas Group Limited, <br>4.700%, due 6/30/26<br>| 200 | &nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; Prosus N.V., <br>3.061%, due 7/13/31<br>| 250 | &nbsp;&nbsp; 223 |
|  |  | &nbsp;&nbsp; 422 |
| **Colombia—0.2%** | **Colombia—0.2%** | **Colombia—0.2%** |
| &nbsp;&nbsp;&nbsp; Banco Davivienda S.A., <br>10 year CMT + 5.097%, 6.650%, due <br> 12/31/99<sup>(d)</sup><br>| 200 | &nbsp;&nbsp; 176 |
| **Costa Rica—0.2%** | **Costa Rica—0.2%** | **Costa Rica—0.2%** |
| &nbsp;&nbsp;&nbsp; Liberty Costa Rica Senior Secured <br> Finance, <br>10.875%, due 1/15/31<br>| 180 | &nbsp;&nbsp; 190 |
| **Hungary—0.5%** | **Hungary—0.5%** | **Hungary—0.5%** |
| &nbsp;&nbsp;&nbsp; Magyar Export-Import Bank Zrt, <br>6.125%, due 12/4/27<br>| 200 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt., <br>5 year CMT + 2.861%, 7.300%, due <br> 7/30/35<sup>(e)</sup><br>| 200 | &nbsp;&nbsp; 206 |
|  |  | &nbsp;&nbsp; 408 |
| **India—1.4%** | **India—1.4%** | **India—1.4%** |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank, <br>7.350%, due 10/6/30<br>| 22000 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp; IRB Infrastructure Developers Limited, <br>7.110%, due 3/11/32<br>| $250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; Network i2i Limited, <br>5 year CMT + 3.390%, 3.975%, due <br> 12/31/99<sup>(d)</sup>,<sup>(e)</sup><br>| 200 | &nbsp;&nbsp; 199 |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** |
| **India—(continued)** | **India—(continued)** | **India—(continued)** |
| &nbsp;&nbsp;&nbsp; Sael Limited, <br>7.800%, due 7/31/31<br>| $181 | &nbsp;&nbsp; $181 |
| &nbsp;&nbsp;&nbsp; Vedanta Resources, <br>9.850%, due 4/24/33<br>| 200 | &nbsp;&nbsp; 205 |
|  |  | &nbsp;&nbsp; 1062 |
| **Indonesia—2.0%** | **Indonesia—2.0%** | **Indonesia—2.0%** |
| &nbsp;&nbsp;&nbsp; Indonesia Government Sukuk, <br>5.200%, due 7/23/35<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; Nickel Industries Limited, <br>9.000%, due 9/30/30<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT, <br>2.300%, due 2/9/31<br>| 450 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp; PT Pertamina (Persero), <br>6.000%, due 5/3/42<br>| 200 | &nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp; PT Pertamina Hulu Energi, <br>5.250%, due 5/21/30<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; PT Sorik Marapi Geothermal Power, <br>7.750%, due 8/5/31<sup>(b)</sup><br>| 187 | &nbsp;&nbsp; 185 |
|  |  | &nbsp;&nbsp; 1518 |
| **Jamaica—0.3%** | **Jamaica—0.3%** | **Jamaica—0.3%** |
| &nbsp;&nbsp;&nbsp; Montego Bay Airport Revenue Finance <br> Ltd, <br>6.600%, due 6/15/35<br>| 200 | &nbsp;&nbsp; 194 |
| **Kazakhstan—0.6%** | **Kazakhstan—0.6%** | **Kazakhstan—0.6%** |
| &nbsp;&nbsp;&nbsp; ForteBank JSC, <br>7.750%, due 2/4/30<br>| 250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; JSC Kaspi.kz, <br>6.250%, due 3/26/30<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 200 |
|  |  | &nbsp;&nbsp; 450 |
| **Macao—0.3%** | **Macao—0.3%** | **Macao—0.3%** |
| &nbsp;&nbsp;&nbsp; Melco Resorts & Entertainment Limited, <br>5.375%, due 12/4/29<br>| 250 | &nbsp;&nbsp; 240 |
| **Malaysia—1.1%** | **Malaysia—1.1%** | **Malaysia—1.1%** |
| &nbsp;&nbsp;&nbsp; Dua Capital Ltd., <br>2.780%, due 5/11/31<br>| 200 | &nbsp;&nbsp; 183 |
| Khazanah Capital Limited, |  |  |
| &nbsp;&nbsp;&nbsp; 4.759%, due 9/5/34 | 450 | &nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp; 4.876%, due 6/1/33 | 200 | &nbsp;&nbsp; 203 |
|  |  | &nbsp;&nbsp; 835 |
| **Mexico—3.9%** | **Mexico—3.9%** | **Mexico—3.9%** |
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV, <br>10.300%, due 1/30/34<br>| 4300 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte, <br>5 year CMT + 4.072%, 8.375%, due <br> 12/31/99<sup>(d)</sup>,<sup>(e)</sup><br>| $200 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; Eagle Funding LuxCo S.a r.l., <br>5.500%, due 8/17/30<sup>(b)</sup><br>| 500 | &nbsp;&nbsp; 501 |
| Petroleos Mexicanos, |  |  |
| &nbsp;&nbsp;&nbsp; 6.750%, due 9/21/47 | 1450 | &nbsp;&nbsp; 1158 |
| &nbsp;&nbsp;&nbsp; 6.840%, due 1/23/30 | 510 | &nbsp;&nbsp; 512 |
| &nbsp;&nbsp;&nbsp; 6.950%, due 1/28/60 | 220 | &nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp; Saavi Energia S.a r.l., <br>8.875%, due 2/10/35<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 209 |
|  |  | &nbsp;&nbsp; 3004 |
| **Mongolia—0.3%** | **Mongolia—0.3%** | **Mongolia—0.3%** |
| &nbsp;&nbsp;&nbsp; Golomt Bank, <br>11.000%, due 5/20/27<br>| 200 | &nbsp;&nbsp; 202 |

---

See accompanying Notes to Portfolio of Investments.

**59**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** |
| **Nigeria—0.3%** | **Nigeria—0.3%** | **Nigeria—0.3%** |
| &nbsp;&nbsp;&nbsp; IHS Holding Ltd, <br>7.875%, due 5/29/30<br>| $200 | &nbsp;&nbsp; $203 |
| **Panama—0.3%** | **Panama—0.3%** | **Panama—0.3%** |
| &nbsp;&nbsp;&nbsp; C&W Senior Finance Ltd, <br>9.000%, due 1/15/33<br>| 200 | &nbsp;&nbsp; 200 |
| **Peru—1.1%** | **Peru—1.1%** | **Peru—1.1%** |
| Banco de Credito del Peru S.A., |  |  |
| &nbsp;&nbsp;&nbsp; 7.850%, due 1/11/29<sup>(b)</sup> | 400 | &nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; 7.850%, due 1/11/29 | 250 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Boroo Investments Pte Ltd, <br>9.500%, due 8/7/32<br>| $200 | &nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Credicorp Capital Sociedad Titulizadora <br> S.A., <br>9.700%, due 3/5/45<br>| 480 | &nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp; Minsur SA, <br>4.500%, due 10/28/31<br>| $300 | &nbsp;&nbsp; 282 |
|  |  | &nbsp;&nbsp; 822 |
| **Poland—0.3%** | **Poland—0.3%** | **Poland—0.3%** |
| &nbsp;&nbsp;&nbsp; Bank Polska Kasa Opieki SA, <br>4.010%, due 2/27/36<br>| 200 | &nbsp;&nbsp; 224 |
| **Saudi Arabia—1.6%** | **Saudi Arabia—1.6%** | **Saudi Arabia—1.6%** |
| &nbsp;&nbsp;&nbsp; Gaci First Investment Co., <br>4.875%, due 2/14/35<br>| $400 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; KSA Sukuk Limited, <br>5.250%, due 6/4/34<br>| 600 | &nbsp;&nbsp; 604 |
| &nbsp;&nbsp;&nbsp; SAB AT1 Limited, <br>5 year CMT + 2.302%, 6.500%, due <br> 12/31/99<sup>(d)</sup>,<sup>(e)</sup><br>| 250 | &nbsp;&nbsp; 245 |
|  |  | &nbsp;&nbsp; 1233 |
| **Serbia—0.3%** | **Serbia—0.3%** | **Serbia—0.3%** |
| &nbsp;&nbsp;&nbsp; Telekom Srbija, <br>7.000%, due 10/28/29<br>| 200 | &nbsp;&nbsp; 197 |
| **South Africa—0.3%** | **South Africa—0.3%** | **South Africa—0.3%** |
| &nbsp;&nbsp;&nbsp; Stillwater Mining Co., <br>4.000%, due 11/16/26<br>| 210 | &nbsp;&nbsp; 208 |
| **Supranational—0.3%** | **Supranational—0.3%** | **Supranational—0.3%** |
| &nbsp;&nbsp;&nbsp; Africa Finance Corporation, <br>5 year CMT + 3.015%, 7.500%, due <br> 12/31/99<sup>(b)</sup>,<sup>(d)</sup>,<sup>(e)</sup><br>| 200 | &nbsp;&nbsp; 200 |
| **Trinidad and Tobago—0.5%** | **Trinidad and Tobago—0.5%** | **Trinidad and Tobago—0.5%** |
| &nbsp;&nbsp;&nbsp; Heritage Petroleum Company, <br>9.000%, due 8/12/29<br>| 200 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Port of Spain Waterfront Development, <br>7.875%, due 2/19/40<sup>(b)</sup><br>| 187 | &nbsp;&nbsp; 186 |
|  |  | &nbsp;&nbsp; 391 |
| **Turkey—0.9%** | **Turkey—0.9%** | **Turkey—0.9%** |
| &nbsp;&nbsp;&nbsp; Export Credit Bank of Turkey, <br>5.750%, due 7/6/26<br>| 200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; Turkiye Varlik Fonu Yonetimi AS, <br>6.875%, due 2/10/31<br>| 300 | &nbsp;&nbsp; 291 |
| &nbsp;&nbsp;&nbsp; WE Soda Investments Holding PLC, <br>9.375%, due 2/14/31<br>| 200 | &nbsp;&nbsp; 197 |
|  |  | &nbsp;&nbsp; 688 |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** | **Foreign Corporate Bonds—(continued)** |
| **United Arab Emirates—0.3%** | **United Arab Emirates—0.3%** | **United Arab Emirates—0.3%** |
| &nbsp;&nbsp;&nbsp; Finance Department Government of <br> Sharjah, <br>4.000%, due 7/28/50<br>| $400 | &nbsp;&nbsp; $248 |
| **Uruguay—0.3%** | **Uruguay—0.3%** | **Uruguay—0.3%** |
| &nbsp;&nbsp;&nbsp; Navios South American Logistics Inc, <br>8.875%, due 7/14/30<br>| 200 | &nbsp;&nbsp; 208 |
| **Uzbekistan—0.6%** | **Uzbekistan—0.6%** | **Uzbekistan—0.6%** |
| &nbsp;&nbsp;&nbsp; Ipoteka-Bank ATIB, <br>6.450%, due 10/9/30<br>| 250 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Uzauto Motors AJ, <br>7.375%, due 11/19/30<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 200 |
|  |  | &nbsp;&nbsp; 448 |
| **Venezuela—2.1%** | **Venezuela—2.1%** | **Venezuela—2.1%** |
| Petroleum of Venezuela S.A., |  |  |
| &nbsp;&nbsp;&nbsp; 8.500%, due 10/27/20<sup>(c)</sup> | 75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; 12.750%, due 2/17/22<sup>(c)</sup> | 3440 | &nbsp;&nbsp; 1558 |
|  |  | &nbsp;&nbsp; 1635 |
| **Total Foreign Corporate Bonds** |  | &nbsp;&nbsp; 17993 |
| **Foreign Municipal Bonds—0.3%** | **Foreign Municipal Bonds—0.3%** | **Foreign Municipal Bonds—0.3%** |
| **Argentina—0.3%** | **Argentina—0.3%** | **Argentina—0.3%** |
| Provincia de Buenos Aires, |  |  |
| &nbsp;&nbsp;&nbsp; 5.875%, due 9/1/37<sup>(a)</sup>,<sup>(b)</sup> | 50 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; 6.625%, due 9/1/37<sup>(a)</sup> | 276 | &nbsp;&nbsp; 208 |
|  |  | &nbsp;&nbsp; 242 |
| **Total Foreign Municipal Bonds** |  | &nbsp;&nbsp; 242 |
| **U.S. Government—6.2%** | **U.S. Government—6.2%** | **U.S. Government—6.2%** |
| U.S. Treasury Bill, |  |  |
| &nbsp;&nbsp;&nbsp; 3.643%, due 7/9/26<sup>(f)</sup> | 1100 | &nbsp;&nbsp; 1089 |
| &nbsp;&nbsp;&nbsp; 3.662%, due 2/18/27 | 600 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp; 3.666%, due 10/29/26 | 1700 | &nbsp;&nbsp; 1665 |
| &nbsp;&nbsp;&nbsp; 3.672%, due 10/1/26 | 1000 | &nbsp;&nbsp; 982 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bond, <br>4.939%, due 8/15/54<br>| 480 | &nbsp;&nbsp; 430 |
| **Total U.S. Government** |  | &nbsp;&nbsp; 4747 |

---

See accompanying Notes to Portfolio of Investments.

**60**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Principal**<br> **Amount** | **Value** |
| **Repurchase Agreements—1.6%** | **Repurchase Agreements—1.6%** | **Repurchase Agreements—1.6%** |
| &nbsp;&nbsp;&nbsp; Fixed Income Clearing Corporation, <br> 1.150% dated 03/31/26, due 04/01/26, <br> repurchase price $1,179, collateralized <br> by U.S. Treasury Note, 3.875%, due <br> 03/31/2028, valued at $1,202<br>| $1179 | &nbsp;&nbsp; $1179 |
| &nbsp;&nbsp;&nbsp; **Total Repurchase Agreements—1.6%** <br>(cost $1,179)<br>|  | &nbsp;&nbsp; 1179 |
| &nbsp;&nbsp;&nbsp; **Total Purchased Options—0.1%** <br>(premiums paid $128)<br>|  | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; **Total Investments—98.8%** <br>(cost $73,175)<br>|  | &nbsp;&nbsp; 75257 |
| **Cash and other assets, less** <br> **liabilities—1.2%**<br>|  | &nbsp;&nbsp; 934 |
| **Net Assets—100.0%** |  | &nbsp;&nbsp; $76191 |

---

------

CMT Constant Maturity Treasury <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Variable/Floating interest rate security. Certain variable/floating interest rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. Rate presented is as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold in transactions exempt from registration, normally to qualified institutional buyers.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Security is currently in default and/or non-income producing.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security is perpetual in nature and has no stated maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Floating Rate Bond. Rate shown is as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Security, or portion of security, is segregated as collateral to cover initial margin requirements on centrally cleared swaps aggregating a total value of $455 (in thousands).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date**<br>| **Deliver/Receive** | **Counterparty** | **Local Currency** <br>**(in thousands)**<br>| **USD (Base)** <br>**Purchased** <br>**or Sold**<br>| **Current** <br>**Value**<br>| **Net** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| *Bought* |  |  |  |  |  |  |
| 6/17/26 | Hungarian Forint | Citibank N.A. | 14843000 | $159801 | $156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3)<br>|
| 6/17/26 | Kenyan Shilling | Citibank N.A. | 22286000 | 170931 | 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 6/17/26 | Angola Kwanza | Citibank N.A. | 158818000 | 172516 | 169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| 6/17/26 | Ukrainian Hryvnia | Citibank N.A. | 159799 | 7151000 | 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| 6/17/26 | Uruguayan Peso | Citibank N.A. | 14900000 | 370647 | 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| 6/17/26 | Brazilian Real | Citibank N.A. | 4100000 | 778949 | 778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 6/17/26 | Euro | Citibank N.A. | 468680 | 542821 | 544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 6/17/26 | Chilean Peso | Citibank N.A. | 329000000 | 360134 | 355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| *Sold* |  |  |  |  |  |  |
| 6/17/26 | Brazilian Real | Citibank N.A. | 2050000 | 377915 | 389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| 6/17/26 | Uruguayan Peso | Citibank N.A. | 14900000 | 372500 | 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| 6/17/26 | Hungarian Forint | Citibank N.A. | 275000000 | 827136 | 823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 6/17/26 | Peruvian Sol | Citibank N.A. | 1200000 | 346360 | 344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 6/17/26 | Chilean Peso | Citibank N.A. | 329000000 | 369219 | 355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| 6/17/26 | Pound Sterling | Citibank N.A. | 870000 | 1162615 | 1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| 6/17/26 | Ukrainian Hryvnia | Citibank N.A. | 157165 | 7151000 | 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| 6/17/26 | Euro | Citibank N.A. | 4969485 | 5782501 | 5764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | **Total net unrealized appreciation (depreciation) on forward foreign currency contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $26 |

---

See accompanying Notes to Portfolio of Investments.

**61**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  | **Purchased Options Contracts**  |
| **Description** | **Counterparty** | **Exercise** <br>**Price/Rate**<br>| **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** <br>**(in thousands)** | **Value** | **Premiums** <br>**Paid**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| &nbsp;&nbsp;&nbsp; Call–OTC EUR <br> versus USD<br>| Citibank N.A. | 1.1972 | &nbsp;&nbsp; 6/15/2026 | &nbsp;&nbsp; 1228000 | &nbsp;&nbsp; 1228 | &nbsp;&nbsp; $4 | &nbsp;&nbsp; $19 | &nbsp;&nbsp; $(15)<br>|
| &nbsp;&nbsp;&nbsp; Call–OTC EUR <br> versus USD<br>| Citibank N.A. | 1.1987 | &nbsp;&nbsp; 6/15/2026 | &nbsp;&nbsp; 1666000 | &nbsp;&nbsp; 1666 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; (20)<br>|
| &nbsp;&nbsp;&nbsp; Call–OTC USD <br> versus IDR<br>| Citibank N.A. | &nbsp;&nbsp; 17026.0000 | &nbsp;&nbsp; 6/08/2026 | &nbsp;&nbsp; 1751000 | $&nbsp;&nbsp; 1751 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; (5)<br>|
| &nbsp;&nbsp;&nbsp; Put–OTC EUR <br> versus USD<br>| Citibank N.A. | 1.1749 | &nbsp;&nbsp; 6/15/2026 | &nbsp;&nbsp; 1666000 | &nbsp;&nbsp; 1666 | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp; Put–OTC USD <br> versus BRL<br>| Citibank N.A. | 5.3820 | &nbsp;&nbsp; 8/21/2026 | &nbsp;&nbsp; 390000 | $&nbsp;&nbsp; 390 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Put–OTC USD <br> versus JPY<br>| Citibank N.A. | 156.6300 | &nbsp;&nbsp; 4/21/2026 | &nbsp;&nbsp; 1000000 | $&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; (14)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $87 | &nbsp;&nbsp; $128 | &nbsp;&nbsp; $(40)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  | **Centrally Cleared Credit Default Swaps**  |
| **Reference** <br>**Entity**<br>| **Buy/Sell** <br>**Protection**<br>| **Fixed (Pay)** <br>**Receive Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount** <br>**(in thousands)** | **Upfront** <br>**Payment** <br>**Paid** <br>**(Received)**<br>| **Value** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| &nbsp;&nbsp;&nbsp; Argentine Republic <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | June 2027<br> ICE | $250 | $205 | $8 | $(197)<br>|
| &nbsp;&nbsp;&nbsp; Argentine Republic <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | December 2029<br> ICE | 204 | 94 | 32 | (62)<br>|
| &nbsp;&nbsp;&nbsp; Ivory Coast <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | June 2031<br> ICE | 300 | 29 | 28 | (1)<br>|
| &nbsp;&nbsp;&nbsp; Republic of South <br> Africa <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | June 2031<br> ICE | 300 | 11 | 13 | 2 |
| &nbsp;&nbsp;&nbsp; Saudi Arabia <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | December 2026<br> ICE | 400 | (6)<br>| (2)<br>| 4 |
| &nbsp;&nbsp;&nbsp; Turkey Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | June 2031<br> ICE | 750 | 64 | 67 | 3 |
| &nbsp;&nbsp;&nbsp; Argentine Republic <br> Government <br> International <br> Bond<br>| Sell | 5.000% | Quarterly | June 2027<br> ICE | 250 | (190)<br>| 3 | 193 |
| &nbsp;&nbsp;&nbsp; Colombia <br> Government <br> International <br> Bond<br>| Sell | 1.000% | Quarterly | June 2036<br> ICE | 280 | (44)<br>| (47)<br>| (3)<br>|
|  |  |  |  |  |  |  |  | $(61)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  | **Centrally Cleared Interest Rate Swaps**  |
| **Floating Rate** <br>**Reference**<br>| **Pay/Receive** <br>**Floating Rate**<br>| **Fixed** <br>**Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount** <br>**(in thousands)** | **Upfront** <br>**Payment** <br>**Paid** <br>**(Received)**<br>| **Value** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| &nbsp;&nbsp;&nbsp; 1-Day USD-SOFR <br> Compounded<br>| Pay | 4.250% | Annual | March 2029<br> LCH | $4018 | $32 | $76 | $44 |
| &nbsp;&nbsp;&nbsp; 1-Day USD-SOFR <br> Compounded<br>| Pay | 3.750% | Annual | March 2032<br> LCH | 5161 | 14 | 21 | 7 |

---

See accompanying Notes to Portfolio of Investments.

**62**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** | **Centrally Cleared Interest Rate Swaps (continued)** |
| **Floating Rate**<br> **Reference**<br>| **Pay/Receive**<br> **Floating Rate**<br>| **Fixed**<br> **Rate**<br>| **Payment**<br> **Frequency**<br>| **Maturity**<br> **Date**<br>| **Notional**<br> **Amount**<br> **(in** <br> **thousands)** | **Upfront**<br> **Payment**<br> **Paid**<br> **(Received)**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>|
| &nbsp;&nbsp;&nbsp; 1-Day USD-SOFR <br> Compounded<br>| Pay | 3.600% | Annual | September 2035<br> LCH | $2500 | (23)<br>| (52)<br>| (29)<br>|
| &nbsp;&nbsp;&nbsp; 1-Day USD-SOFR <br> Compounded<br>| Pay | 4.000% | Annual | March 2044<br> LCH | 2184 | (26)<br>| (39)<br>| (13)<br>|
| &nbsp;&nbsp;&nbsp; 1-Day USD-SOFR <br> Compounded<br>| Pay | 3.500% | Annual | September 2054<br> LCH | 565 | (61)<br>| (63)<br>| (2)<br>|
| 28-Day MXN-TIIE | Pay | 8.850% | Annual | March 2046<br> LCH | 4400 | 1 | (6)<br>| (7)<br>|
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Pay | 3.250% | Annual | September 2037<br> LCH | 407 | 18 | 14 | (4)<br>|
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 3.000% | Annual | March 2027<br> LCH | 170 | 1 | (1)<br>| (2)<br>|
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 2.750% | Annual | March 2031<br> LCH | 689 | (14)<br>| 4 | 18 |
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 3.250% | Annual | September 2033<br> LCH | 400 | (24)<br>| (16)<br>| 8 |
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 2.750% | Annual | March 2034<br> LCH | 438 | (8)<br>| 8 | 16 |
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 2.750% | Annual | March 2039<br> LCH | 2231 | 45 | 112 | 67 |
| &nbsp;&nbsp;&nbsp; 6-Month EUR-<br> EURIBOR<br>| Receive | 2.500% | Annual | March 2049<br> LCH | 396 | 45 | 52 | 7 |
|  |  |  |  |  |  |  |  | $110 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  | **Over-the-Counter Credit Default Swaps**  |
| **Reference** <br>**Entity**<br>| **Buy/Sell** <br>**Protection**<br>| **Fixed (Pay)** <br>**Receive Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Counterparty** | **Notional** <br>**Amount** <br>**(in thousands)** | **Upfront** <br>**Payment** <br>**Paid** <br>**(Received)**<br>| **Value** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| &nbsp;&nbsp;&nbsp; Benin <br> Government <br> International <br> Bond<br>| Buy | (1.000)% | Quarterly | December 2030 | Barclays Bank PLC | $250 | $19 | $29 | $10 |
| **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | **Total net unrealized appreciation (depreciation) on swaps** | $59 |

---

------

---

| | |
|:---|:---|
| ICE | Intercontinental Exchange |
| SOFR | Secured Overnight Financing Rate |
| LCH | London Clearing House |
| TIIE | Interbank Equilibrium Interest Rate |
| EURIBOR | Euro Interbank Offered Rate |
| PLC | Public Limited Company |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Legend** | **Currency Legend** |
| ARS | Argentina Peso |
| BRL | Brazilian Real |
| COP | Colombian Peso |
| DOP | Dominican Republic Peso |
| EUR | Euro |
| HUF | Hungary Forint |
| INR | Indian Rupee |
| JMD | Jamaican Dollar |
| KZT | Kazakhstan Tenge |
| LKR | Sri Lanka Rupee |
| MXN | Mexican Peso |
| NGN | Nigerian Naira |
| PEN | Peruvian Nuevo Sol |
| PKR | Pakistani Rupee |
| PYG | Paraguay Guarani |
| UGX | Uganda Shilling |
| USD | United States Dollar |
| UYU | Uruguayan Peso |

---

See accompanying Notes to Portfolio of Investments.

**63**

------

**Emerging Markets Debt Fund**

**Portfolio of Investments, March 31, 2026** *(all dollar amounts in thousands) (unaudited)*

ZMW Zambian Kwacha

As of March 31, 2026, the value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown below (in thousands).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Foreign Government Bonds | $— | &nbsp;&nbsp; $51009 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $51009 |
| &nbsp;&nbsp;&nbsp; Foreign Corporate Bonds |  | &nbsp;&nbsp; 17993 | &nbsp;&nbsp; — | &nbsp;&nbsp; 17993 |
| &nbsp;&nbsp;&nbsp; U.S. Government |  | &nbsp;&nbsp; 4747 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4747 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | &nbsp;&nbsp; 1179 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1179 |
| &nbsp;&nbsp;&nbsp; Foreign Municipal Bonds |  | &nbsp;&nbsp; 242 | &nbsp;&nbsp; — | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; Purchased Options |  | &nbsp;&nbsp; 87 | &nbsp;&nbsp; — | &nbsp;&nbsp; 87 |
| **Total Investments in Securities** | $— | &nbsp;&nbsp; $75257 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $75257 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Other Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTC Swaps | $— | &nbsp;&nbsp; $10 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts |  | &nbsp;&nbsp; 58 | &nbsp;&nbsp; — | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; Swaps |  | &nbsp;&nbsp; 352 | &nbsp;&nbsp; — | &nbsp;&nbsp; 352 |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts |  | &nbsp;&nbsp; (32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (32)<br>|
| &nbsp;&nbsp;&nbsp; Swaps |  | &nbsp;&nbsp; (303)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (303)<br>|
| **Total Other Financial Instruments** | $— | &nbsp;&nbsp; $85 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $85 |

---

See accompanying Notes to Portfolio of Investments.

**64**

------

**Notes to Portfolios of Investments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(1)** **Significant Accounting Policies**

*(a)* *Description of the Trust*

William Blair Funds (the "Trust") is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended ("the 1940 Act"), as an open-end management investment company. As of March 31, 2026, the Trust had the following funds (the "Funds") available for sale, each with its own investment objective and policies. For each Fund, the number of shares authorized is unlimited.

**<u>U.S. Equity</u>**

Growth Fund

Large Cap Growth Fund

Mid Cap Value Fund

Small-Mid Cap Core Fund

Small-Mid Cap Growth Fund

Small-Mid Cap Value Fund

Small Cap Growth Fund

Small Cap Value Fund

**<u>Global Equity</u>**

Global Leaders Fund

**<u>International Equity</u>**

International Leaders Fund

International Growth Fund

Institutional International Growth Fund

International Small Cap Growth Fund

Emerging Markets Leaders Fund

Emerging Markets Growth Fund

Emerging Markets ex China Growth Fund

Emerging Markets Small Cap Growth Fund

China Growth Fund

**<u>Emerging Markets Debt</u>**

Emerging Markets Debt Fund

The investment objectives of the Funds are as follows:

---

| | |
|:---|:---|
| U.S. Equity Funds | Long-term capital appreciation. |
| Global Equity Fund | Long-term capital appreciation. |
| International Equity Funds | Long-term capital appreciation. |
| Emerging Markets Debt Fund | Provide attractive risk-adjusted returns relative to the Fund's benchmark. |

---

*(b)* *Foreign Currency Translation*

The Funds may invest in securities denominated in foreign currencies. As such, assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the current exchange rate on the date of valuation. The values of foreign investments, open forward foreign currency contracts, and cash denominated in foreign currencies are translated into U.S. dollars using a spot market rate of exchange as of the time of the determination of each Fund's net asset value, typically 4:00 p.m. Eastern time on days when there is regular trading on the NYSE. Receivables and payables for securities transactions, dividends, interest income and tax reclaims are translated into U.S. dollars using a spot market rate of exchange as of 4:00 p.m. Eastern time. Settlement of purchases and sales and dividend and interest receipts are translated into U.S. dollars using a spot market rate of exchange as of 11:00 a.m. Eastern time.

*(c)* *Repurchase Agreements*

In a repurchase agreement, a Fund buys a security at one price and at the time of sale, the seller agrees to repurchase the security at a mutually agreed upon time and price (usually within seven days). The repurchase agreement thereby determines the yield during the purchaser's holding period, while the seller's obligation to repurchase is secured by the value of the underlying collateral. William Blair Investment Management, LLC ("the Adviser") monitors, on an ongoing basis, the value of the underlying collateral to ensure that the value always equals or exceeds the repurchase price plus accrued interest. Repurchase agreements may involve certain risks in the event of a default or insolvency of the other party to the agreement, including possible delays or restrictions upon a Fund's ability to dispose of the underlying collateral. The risk to a Fund is limited to the ability of the seller to pay the agreed upon sum on the delivery date. In the event of default, a repurchase agreement provides that a Fund is entitled to sell the underlying collateral. The loss, if any, to a Fund will be the difference between the proceeds from the sale and the repurchase price. However, if bankruptcy proceedings are commenced with respect to the seller of the security, disposition of the collateral by the Fund may be delayed or limited. The Funds have master repurchase agreements which allow the Funds to offset amounts owed to a counterparty with amounts owed from the same counterparty, including any collateral, in the event the counterparty defaults. Each Fund's outstanding repurchase agreements, if any, and related collateral, are shown on the Fund's Portfolio of Investments. Although no definitive creditworthiness criteria are used, the Adviser reviews the creditworthiness of the banks and non-bank dealers with which a Fund enters into repurchase agreements to evaluate those risks. A Fund may, for tax purposes, deem repurchase agreements collateralized by U.S. Government securities to be investments in U.S. Government securities.

**65**

------

**Notes to Portfolios of Investments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(2)** **Valuation**

*(a)* *Investment Valuation*

The value of U.S. equity securities, including exchange-traded funds, is determined by valuing securities traded on national securities markets or in the over-the-counter ("OTC") markets at the last sale price or, if applicable, the official closing price or, in the absence of a recent sale on the date of determination, at the mean between the last reported bid and ask prices.

The value of foreign equity securities is generally determined based upon the last sale price on the foreign exchange or market on which it is primarily traded and in the currency of that market as of the close of the appropriate exchange or, if there have been no sales during that day, at the mean between the last reported bid and ask prices. The Adviser has determined that the passage of time between when the foreign exchanges or markets close and when the Funds compute their net asset values could cause the value of foreign equity securities to no longer be representative or accurate and, as a result, may necessitate that such securities be fair valued. Accordingly, for foreign equity securities, the Funds may use an independent pricing service to fair value price the security as of the close of regular trading on the NYSE. As a result, a Fund's value for a foreign security may be different from the last sale price (or the mean between the last reported bid and ask prices). As of March 31, 2026, fair valuation estimates for foreign equity securities were not obtained.

Fixed income securities are generally valued using evaluated prices provided by an independent pricing service. The evaluated prices are formed using various market inputs that the pricing service believes accurately represent the market value of a security at a particular point in time. The pricing service determines evaluated prices for fixed income securities using inputs including, but not limited to, recent transaction prices for such securities, dealer quotes, transaction prices for other securities with similar characteristics, collateral characteristics, credit quality, payment history, liquidity and market conditions.

Repurchase agreements are valued at cost, which approximates fair value.

Forward foreign currency contracts are valued on the basis of the value of the underlying currencies at the prevailing currency exchange rate as supplied by an independent pricing service.

Swaps that are centrally cleared through an exchange are valued at the most recent settlement price provided by the exchange on which they are cleared. Total return swaps on equities, equity baskets, indices and other financial instruments are valued by an independent pricing service, or if unavailable, based on the security's or instrument's underlying reference asset.

Option contracts on securities, currencies and other financial instruments traded on one or more exchanges are valued at their most recent sale price on the exchange on which they are traded most extensively. Option contracts on foreign indices are valued at the settlement price. If there were no sales that day or if no settlement price is available, such option contracts are valued at the mean between the last reported bid and ask prices. Option contracts traded in the OTC market shall be valued by an independent pricing service.

Securities, and other assets, for which a market quotation is not available or is deemed unreliable (e.g., securities affected by unusual or extraordinary events, such as natural disasters or securities affected by market or economic events, such as bankruptcy filings), or the value of which is affected by a significant valuation event, are valued at a fair value. Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees has designated the Adviser as the valuation designee to perform fair value determinations for the Funds. The value of these fair valued securities may be different from the last sale price (or the mean between the last reported bid and ask prices), and there is no guarantee that a fair valued security will be sold at the price at which a Fund is carrying the security.

*(b)* *Fair Value Measurements*

Fair value is defined as the price that a Fund would receive upon selling a security in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund's investments. A three-tier hierarchy of inputs is used to classify fair value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1—Quoted prices (unadjusted) in active markets for an identical security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2—Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others. In addition, other observable inputs such as foreign exchange rates, benchmark securities indices and foreign futures contracts may be utilized in the valuation of certain foreign securities when significant events occur between the last sale on the foreign securities exchange and the time at which the net asset value of the Fund is calculated.

**66**

------

**Notes to Portfolios of Investments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3—Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and are based on the best information available.

The value of investments in securities and other financial instruments, segregated by their hierarchical input levels used in determining fair value and by security class or other financial instruments, are shown at the end of each Fund's Portfolio of Investments.

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation methodologies applied to the Funds' major categories of assets and liabilities measured at fair value on a recurring basis is as follows:

*Exchange-Traded Securities*

Securities traded on a national securities exchange (or reported on the NASDAQ national market), including exchange-traded funds, are stated at the last reported sales price on the day of valuation. Other securities traded in the OTC market and listed securities for which no sale was reported on that date are stated at the mean between the last reported bid and ask prices. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy. Securities traded on inactive markets or valued by reference to similar instruments are generally categorized as Level 2 of the fair value hierarchy.

*Fixed Income Securities*

Fixed income securities are generally valued using evaluated prices provided by an independent pricing service. The evaluated prices are formed using various market inputs that the pricing service believes accurately represent the fair value of a security at a particular point in time. The pricing service determines evaluated prices for fixed income securities using inputs including, but not limited to, recent transaction prices for such securities, dealer quotes, transaction prices for other securities with similar characteristics, collateral characteristics, credit quality, payment history, liquidity and market conditions. Securities that use similar valuation techniques and observable inputs as described above are categorized as Level 2 of the fair value hierarchy.

*Repurchase Agreements*

Repurchase agreements are valued at cost, which approximates fair value. Repurchase agreements are categorized as Level 2 of the fair value hierarchy.

*Derivative Instruments*

Listed derivatives, such as certain options and futures contracts, that are actively traded are valued based on quoted prices from the exchange on which they are traded most extensively and are categorized as Level 1 of the fair value hierarchy. OTC derivative contracts include forward foreign currency contracts, swap and certain option contracts related to interest rates, foreign currencies, the credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of OTC derivative products can be modeled by independent pricing services taking into account the counterparties' creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of forward foreign currency contracts and interest rate swaps. A substantial majority of OTC derivative products held by a Fund are valued using such models and are categorized as Level 2 of the fair value hierarchy.

*Level 3 Securities*

The fair value estimates for the Level 3 securities in the Small-Mid Cap Growth Fund and Small Cap Growth Fund were determined in good faith by the Adviser pursuant to the Trust's Valuation Procedures. There were various factors considered in reaching the fair value determination, including, but not limited to, the following: the type of security, the extent of public trading of the security, information obtained for the security, and analysis of the company's performance and market trends that influence its performance. The Level 3 securities represented 0.00% and 0.00% as a percentage of net assets in the Small-Mid Cap Growth Fund and Small Cap Growth Fund, respectively.

**67**

------

**Notes to Portfolios of Investments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(3)** **Financial Derivative Instruments**

Each Fund may use derivative instruments to maintain liquidity, to provide hedging, or in anticipation of changes in the composition of its portfolio holdings or as otherwise provided in each Fund's prospectus. The derivative instruments held as of March 31, 2026 as disclosed in each Fund's Portfolio of Investments, are representative of each Fund's derivative instrument trading activity during the period ended March 31, 2026.

Derivative transactions carry counterparty risk as they are based on contracts between a Fund and the applicable counterparty. For exchange-traded or cleared derivative contracts, such counterparty risk is limited due to the role of the exchange or clearinghouse. OTC derivative contracts, however, are exposed to counterparty risk in the amount of unrealized gains, net of collateral held, for the duration of the contract.

The Emerging Markets Debt Fund is subject to certain netting arrangements through International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes ("ISDAs"). The ISDAs maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. The ISDAs cover certain OTC derivative securities entered into by the Emerging Markets Debt Fund with various counterparties and allow the Emerging Markets Debt Fund to close out and net its total exposure to a counterparty in the event of a default.

*Forward Foreign Currency Contracts*

The Global Equity, International Equity and Emerging Markets Debt Funds may enter into forward foreign currency contracts. When entering into a forward foreign currency contract, a Fund agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. A Fund's net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date. These instruments may involve market risk, credit risk, or both kinds of risks in excess of the amount recognized in the Portfolio of Investments. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from the price movements in currencies.

*Options*

The purchase or sale of an option by a Fund involves the payment or receipt of a premium by the Fund and the corresponding right or obligation, as the case may be, either to purchase or sell the underlying security, commodity, or other instrument for a specific price at a certain time or during a certain period. Purchasing options involves the risk that the underlying instrument will not change price in the manner expected, so the Fund loses its premium. Writing options involves potentially greater risk because the Fund is exposed to the extent of the actual price movement in the underlying security rather than only the amount of the premium paid (which could result in a potentially unlimited loss). OTC options also involve counterparty credit risk.

*Swap Contracts*

Swap agreements may include total return, interest rate, securities index, commodity, security, currency exchange rate, credit default index, volatility and variance swaps. Cleared swaps are transacted through futures commission merchants that are members of central clearing houses with the clearing house serving as a central counterparty similar to transactions in futures contracts. In a standard "swap" transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or "swapped" between the parties are calculated with respect to a "notional amount" (i.e., the change in the value of a particular dollar amount invested, for example, at a particular interest rate, in a particular foreign currency, or in a "basket" of securities representing a particular index). Swap agreements are subject to the risk that the counterparty to the swap will default on its obligation to pay a Fund and the risk that a Fund will not be able to meet its obligations to pay the counterparty to the swap. Swap agreements may also involve fees, commissions or other costs that may reduce a Fund's gains from a swap agreement or may cause a Fund to lose money. To the extent permitted by its investment policies and restrictions, a Fund may invest in the following types of swaps:

Credit Default Swaps—A Fund may invest in credit default swaps as a means of "buying" credit protection (i.e., attempting to mitigate the risk of default or credit quality deterioration in some portion of a Fund's holdings) or "selling" credit protection (i.e., attempting to gain exposure to an underlying issuer's credit quality characteristics without directly investing in that issuer). A credit default swap is a contract between a buyer and a seller of protection against a pre-defined credit event (e.g., a ratings downgrade or default) on an underlying reference obligation, which may be a single debt instrument or baskets or indices of securities. Under current regulatory requirements, a Fund may be a buyer or seller of a credit default swap. As a seller of protection on credit default swap agreements, a Fund will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap provided that there is no credit event. A Fund adds leverage to its portfolio because the Fund is subject to investment exposure on the notional amount of the swap. The maximum potential amount of future

**68**

------

**Notes to Portfolios of Investments**

payments that a Fund as a seller of protection could be required to make under a credit default swap agreement equals the notional amount of the agreement. Notional amounts of each individual credit default swap agreement outstanding as of the period end for which a Fund is the seller of protection are disclosed in the Fund's Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the same Fund for the same referenced entity or entities. For credit default swap contracts on credit indices, the quoted market prices and resulting values serve as an indicator of the payment performance risk. Increasing market values, in absolute terms when compared to the notional amount of the swap, typically represent deterioration of the referenced entities' credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap.

Interest Rate Swap—A Fund may invest in interest rate swaps to gain or mitigate exposure to changes in interest rates. Interest rate swap agreements involve a commitment between parties to pay either a fixed interest rate or a floating interest rate based on a notional amount of principal. The parties make payments at predetermined intervals throughout the life of the swap. As a payer, a Fund would make the fixed payment and receive the floating payment. As a receiver, a Fund would make the floating payment and receive the fixed payment.

Total Return Swap—A Fund may invest in total return swaps to gain or mitigate exposure to an underlying security, or securities. Total return swap agreements may involve commitments to pay interest in exchange for the return on the underlying security, or securities. At maturity, a net cash flow is exchanged between the parties based on the total return of the underlying security, or securities, less a financing rate. As a receiver in the transaction, a Fund would receive a payment for a positive return and would make a payment for a negative return. As a payer in the transaction, a Fund would make a payment for a positive return and would receive a payment for a negative return.

**69**

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** WILLIAM BLAIR FUNDS

- **b. Investment Company Act file number:** 811-05344

- **c. CIK number of Registrant:** 0000822632

- **d. LEI of Registrant:** SNQR0U5FDV8EZZX4W051

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 150 NORTH RIVERSIDE PLAZA

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-364-8000

**Item A.2. Information about the Series.**

- **a. Name of Series:** William Blair International Leaders Fund

- **b. EDGAR series identifier (if any):** S000037763

- **c. LEI of Series:** KFD5PE0MGFTPJ8FU5L78

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1068220580.24

**Total Liabilities:** $3258010.34

**Net Assets:** $1064962569.90

**Cash Not Reported:** $288867.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000116468 | 6.71%                | 5.18%                | -11.14%              |
| Class ID C000116469 | 6.75%                | 5.22%                | -11.13%              |
| Class ID C000116470 | 6.75%                | 5.22%                | -11.12%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7422051.82              | $66591712.26                               |
| Month 2  | $-751954.10              | $60994756.75                               |
| Month 3  | $6455562.83              | $-141403511.44                             |

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Antofagasta PLC                           | Antofagasta PLC                           | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | GB        |    371188 | NS      | $16645729.26  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Diploma PLC                               | Diploma PLC                               | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |    106127 | NS      | $8473393.12   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                           | BAE Systems PLC                           | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    734317 | NS      | $21529074.39  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                 | Argenx SE                                 | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     23838 | NS      | $17407699.50  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Halma PLC                                 | Halma PLC                                 | CUSIP: 000000000<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |    348502 | NS      | $17784330.38  | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE PLC                                   | SSE PLC                                   | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |    505150 | NS      | $17462325.72  | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                           | AstraZeneca PLC                           | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    153389 | NS      | $29993676.92  | 2.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollarama Inc                             | Dollarama Inc                             | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |    128533 | NS      | $15774882.53  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                              | Barclays PLC                              | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |   3126539 | NS      | $16362693.22  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                            | Rheinmetall AG                            | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      7946 | NS      | $13403201.99  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA        | Banco Bilbao Vizcaya Argentaria SA        | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    976621 | NS      | $21094581.94  | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Gold Inc                           | Lundin Gold Inc                           | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |    241797 | NS      | $18478498.36  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                    | UCB SA                                    | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     63581 | NS      | $19156751.58  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                          | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      7406 | NS      | $12805122.12  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                    | Accton Technology Corp                    | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    504000 | NS      | $24865916.73  | 2.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Asics Corp                                | Asics Corp                                | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |    604500 | NS      | $16252039.77  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd              | Chugai Pharmaceutical Co Ltd              | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |     39500 | NS      | $2178363.17   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd        | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    318900 | NS      | $16087858.72  | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujikura Ltd                              | Fujikura Ltd                              | CUSIP: 000000000<br>LEI: 353800PSDZ8VRCKVPL51 | Long             | EC               | CORP              | JP        |   1155000 | NS      | $31764839.33  | 2.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                               | Hitachi Ltd                               | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    773500 | NS      | $22690999.97  | 2.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd         | Hon Hai Precision Industry Co Ltd         | CUSIP: 000000000<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |   4621000 | NS      | $28247082.00  | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                         | Bharti Airtel Ltd                         | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |   1035907 | NS      | $19760834.99  | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                              | SK hynix Inc                              | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     86187 | NS      | $48899466.36  | 4.59%             |  |  |  | No            |                  2 | On Loan: No      |
| IHI Corp                                  | IHI Corp                                  | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |   1278300 | NS      | $26375157.61  | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc       | Sumitomo Mitsui Financial Group Inc       | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    844200 | NS      | $27757556.74  | 2.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                | Samsung Electronics Co Ltd                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    430634 | NS      | $50367509.56  | 4.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd          | Sumitomo Electric Industries Ltd          | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |    236600 | NS      | $13443623.51  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    947000 | NS      | $54769295.05  | 5.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                                   | ABB Ltd                                   | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |    242737 | NS      | $19736442.15  | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                  | Enel SpA                                  | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |   2176541 | NS      | $23795750.39  | 2.23%             |  |  |  | No            |                  2 | On Loan: No      |
| EssilorLuxottica SA                       | EssilorLuxottica SA                       | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |     61920 | NS      | $14428916.01  | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                            | BNP Paribas SA                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |    136991 | NS      | $13050259.90  | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                            | Lonza Group AG                            | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     19676 | NS      | $12622515.03  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp.               | FIXED INC CLEARING CORP.REPO              | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   4708331 | PA      | $4708331.49   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     21756 | NS      | $28930171.46  | 2.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharat Electronics Ltd                    | Bharat Electronics Ltd                    | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |   3562179 | NS      | $15279590.43  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandoz Group AG                           | Sandoz Group AG                           | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |    332127 | NS      | $26022444.53  | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                         | Galderma Group AG                         | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |     92905 | NS      | $18258961.37  | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                     | Emaar Properties PJSC                     | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |   3755100 | NS      | $12288323.24  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd          | Singapore Telecommunications Ltd          | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |   5563300 | NS      | $21421050.27  | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                                 | Safran SA                                 | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     59272 | NS      | $19395539.79  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PLC           | London Stock Exchange Group PLC           | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |    103398 | NS      | $12210034.37  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Prysmian SpA                              | Prysmian SpA                              | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |    215547 | NS      | $25454178.73  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                                  | Vinci SA                                  | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     77267 | NS      | $11597714.69  | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group PLC                              | 3i Group PLC                              | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    250977 | NS      | $8179593.28   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                              | Iberdrola SA                              | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |   1166866 | NS      | $26714407.41  | 2.51%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                             | AIA Group Ltd                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   2087000 | NS      | $23189329.80  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                      | Tencent Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    438300 | NS      | $27644605.70  | 2.60%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                            | ICICI Bank Ltd                            | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    685688 | NS      | $8845415.58   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                             | UniCredit SpA                             | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    207540 | NS      | $14889705.14  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Credicorp Ltd                             | Credicorp Ltd                             | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |     39618 | NS      | $13437633.24  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands            | NU Holdings Ltd/Cayman Islands            | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |   1054238 | NS      | $15149400.06  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                     | Spotify Technology SA                     | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     15199 | NS      | $7370147.09   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                | Ferrari NV                                | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     25838 | NS      | $8744871.10   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

**Name of Applicant:** WILLIAM BLAIR FUNDS

**Signature:** John Raczek

**Name of Signer:** John Raczek

**Title:** Principal Financial Officer