# EDGAR Filing Document

**Accession Number:** 0000012601
**File Stem:** 0000012601-26-000354
**Filing Date:** 2026-5
**Character Count:** 460939
**Document Hash:** de0d213711a5490b57822c6241d0ae01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000012601-26-000354.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0000012601-26-000354

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL VARIABLE CONTRACTS FUNDS INC
- **CENTRAL INDEX KEY:** 0000012601

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01944
- **FILM NUMBER:** 261019155

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-247-5477

**MAIL ADDRESS:**
- **STREET 1:** PRINCIPAL FINANCIAL GROUP
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL VARIABLE CONTRACTS FUND INC
- **DATE OF NAME CHANGE:** 19980617

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL CAPITAL ACCUMULATION FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCOR INVESTMENT FUND INC
- **DATE OF NAME CHANGE:** 19880906

## Series and Classes Contracts Data

### U.S. LargeCap S&P 500 Index Buffer July Account (formerly, U.S. LargeCap Buffer July Account) (Series ID: S000076127)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000235586 | Class 2      |  |

## Nport-Ex

Schedule

of

Investments

Blue

Chip

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.51

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.51

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

105,123

$

TOTAL

INVESTMENT

COMPANIES

$

COMMON

STOCKS

-

.67

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.76

%

General

Electric

Co

735

$

HEICO

Corp

-

Class

A

941

TransDigm

Group

Inc

849

984

$

1,391

Building

Materials

-

.41

%

Vulcan

Materials

Co

Chemicals

-

.61

%

Linde

PLC

Commercial

Services

-

.65

%

Moody's

Corp

515

S&P

Global

Inc

$

Diversified

Financial

Services

-

.63

%

Brookfield

Asset

Management

Ltd

1,415

Charles

Schwab

Corp/The

1,634

Mastercard

Inc

2,012

1,005

Visa

Inc

3,196

966

$

2,188

Electronics

-

.23

%

Amphenol

Corp

2,003

Healthcare

-

Products

-

.53

%

Danaher

Corp

3,815

723

IDEXX

Laboratories

Inc

(c) 153

Intuitive

Surgical

Inc

(c) 268

$

933

Insurance

-

.74

%

Arthur

J

Gallagher

&

Co

706

Internet

-

.19

%

Airbnb

Inc

(c) 1,047

Alphabet

Inc

-

A

Shares

1,782

512

Alphabet

Inc

-

C

Shares

2,801

804

Amazon.com

Inc

(c) 11,807

2,459

Meta

Platforms

Inc

1,552

888

Netflix

Inc

(c) 7,603

731

Uber

Technologies

Inc

(c) 1,002

$

5,598

Lodging

-

.75

%

Hilton

Worldwide

Holdings

Inc

510

Private

Equity

-

.47

%

Brookfield

Corp

37,656

1,524

KKR

&

Co

Inc

4,606

$

1,950

Real

Estate

-

.08

%

CoStar

Group

Inc

(c) 5,536

Retail

-

.54

%

Costco

Wholesale

Corp

O'Reilly

Automotive

Inc

(c) 1,577

$

Semiconductors

-

.93

%

Broadcom

Inc

2,986

924

NVIDIA

Corp

11,146

1,944

$

2,868

Software

-

.15

%

Cadence

Design

Systems

Inc

(c) 2,530

703

Constellation

Software

Inc/Canada

Microsoft

Corp

7,895

2,922

Veeva

Systems

Inc

(c) 875

$

3,943

TOTAL

COMMON

STOCKS

$

20,522

Total

Investments

$

20,627

Other

Assets

and

Liabilities

- (0.18)%

(38)

TOTAL

NET

ASSETS

-

100.00%

$

20,589

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

Blue

Chip

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

1,559

$

1,552

$

$

$

1,559

$

1,552

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.48

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.48

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

1,025,996

$

1,026

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b),(c)

24,134,742

24,135

$

25,161

TOTAL

INVESTMENT

COMPANIES

$

25,161

BONDS

-

.92

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

.02

%

Omnicom

Group

Inc

2.45%,

04/30/2030

(d) $

$

2.60%,

08/01/2031

$

Aerospace

&

Defense

-

.48

%

Boeing

Co/The

2.95%,

02/01/2030

3.25%,

02/01/2028

3.25%,

02/01/2035

3.63%,

02/01/2031

3.75%,

02/01/2050

3.95%,

08/01/2059

5.15%,

05/01/2030

5.71%,

05/01/2040

5.81%,

05/01/2050

5.88%,

02/15/2040

6.30%,

05/01/2029

6.53%,

05/01/2034

6.86%,

05/01/2054

General

Dynamics

Corp

3.75%,

05/15/2028

4.25%,

04/01/2040

4.95%,

08/15/2035

General

Electric

Co

4.90%,

01/29/2036

Honeywell

Aerospace

Inc

4.00%,

03/16/2029

(e) 185

4.30%,

03/16/2031

(e) 185

4.95%,

03/16/2036

(e) 155

5.62%,

03/16/2046

(e) 80

5.73%,

03/16/2056

(e) 145

L3Harris

Technologies

Inc

1.80%,

01/15/2031

2.90%,

12/15/2029

5.05%,

06/01/2029

5.40%,

07/31/2033

5.50%,

08/15/2054

5.60%,

07/31/2053

Lockheed

Martin

Corp

1.85%,

06/15/2030

3.80%,

03/01/2045

3.90%,

06/15/2032

4.07%,

12/15/2042

4.09%,

09/15/2052

4.15%,

08/15/2028

4.15%,

06/15/2053

4.50%,

02/15/2029

4.70%,

12/15/2031

4.70%,

05/15/2046

4.75%,

02/15/2034

5.00%,

08/15/2035

5.10%,

11/15/2027

5.20%,

02/15/2055

(d) 130

5.20%,

02/15/2064

5.25%,

01/15/2033

5.70%,

11/15/2054

Northrop

Grumman

Corp

3.85%,

04/15/2045

4.03%,

10/15/2047

4.65%,

07/15/2030

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

(continued)

Northrop

Grumman

Corp

(continued)

4.70%,

03/15/2033

$

$

4.90%,

06/01/2034

4.95%,

03/15/2053

RTX

Corp

1.90%,

09/01/2031

2.25%,

07/01/2030

3.75%,

11/01/2046

4.05%,

05/04/2047

4.13%,

11/16/2028

4.15%,

05/15/2045

4.35%,

04/15/2047

4.50%,

06/01/2042

4.63%,

11/16/2048

5.15%,

02/27/2033

5.38%,

02/27/2053

5.75%,

01/15/2029

6.10%,

03/15/2034

6.40%,

03/15/2054

$

8,167

Agriculture

-

.33

%

Altria

Group

Inc

3.40%,

05/06/2030

3.70%,

02/04/2051

3.88%,

09/16/2046

4.00%,

02/04/2061

(d) 190

4.80%,

02/14/2029

4.88%,

02/04/2028

5.25%,

08/06/2035

5.80%,

02/14/2039

Archer-Daniels-Midland

Co

2.90%,

03/01/2032

4.50%,

08/15/2033

BAT

Capital

Corp

2.26%,

03/25/2028

2.73%,

03/25/2031

3.46%,

09/06/2029

3.56%,

08/15/2027

3.98%,

09/25/2050

4.54%,

08/15/2047

5.63%,

08/15/2035

5.83%,

02/20/2031

6.42%,

08/02/2033

7.08%,

08/02/2043

7.08%,

08/02/2053

BAT

International

Finance

PLC

5.93%,

02/02/2029

Bunge

Ltd

Finance

Corp

2.75%,

05/14/2031

5.15%,

08/04/2035

5.15%,

03/19/2036

Philip

Morris

International

Inc

1.75%,

11/01/2030

4.13%,

04/28/2028

4.13%,

03/04/2043

4.25%,

11/10/2044

4.38%,

11/15/2041

4.50%,

03/20/2042

4.63%,

11/01/2029

4.88%,

02/15/2028

4.88%,

02/13/2029

4.88%,

11/15/2043

4.90%,

11/01/2034

5.13%,

11/17/2027

5.25%,

02/13/2034

5.38%,

02/15/2033

5.50%,

09/07/2030

5.63%,

11/17/2029

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Agriculture

(continued)

Philip

Morris

International

Inc

(continued)

5.75%,

11/17/2032

$

$

Reynolds

American

Inc

5.70%,

08/15/2035

5.85%,

08/15/2045

$

5,573

Airlines

-

.03

%

American

Airlines

2019-1

Class

AA

Pass

Through

Trust

3.15%,

08/15/2033

Delta

Air

Lines

2020-1

Class

AA

Pass

Through

Trust

2.00%,

06/10/2028

Delta

Air

Lines

Inc

4.95%,

07/10/2028

United

Airlines

2019-2

Class

AA

Pass

Through

Trust

2.70%,

11/01/2033

$

Apparel

-

.03

%

NIKE

Inc

3.25%,

03/27/2040

3.38%,

11/01/2046

3.63%,

05/01/2043

$

532

Automobile

Manufacturers

-

.61

%

American

Honda

Finance

Corp

2.25%,

01/12/2029

4.50%,

09/04/2030

4.55%,

03/03/2028

4.60%,

04/17/2030

4.70%,

01/12/2028

4.90%,

01/10/2034

5.05%,

07/10/2031

5.15%,

07/09/2032

5.65%,

11/15/2028

5.85%,

10/04/2030

Ford

Motor

Co

6.10%,

08/19/2032

Ford

Motor

Credit

Co

LLC

5.30%,

09/06/2029

5.80%,

03/08/2029

5.88%,

11/07/2029

5.92%,

03/20/2028

6.05%,

03/05/2031

6.05%,

11/05/2031

6.50%,

02/07/2035

6.80%,

11/07/2028

7.12%,

11/07/2033

7.35%,

11/04/2027

General

Motors

Co

5.00%,

10/01/2028

5.00%,

04/01/2035

(d) 100

5.35%,

04/15/2028

5.40%,

04/01/2048

6.25%,

04/15/2035

6.75%,

04/01/2046

General

Motors

Financial

Co

Inc

2.35%,

01/08/2031

2.40%,

04/10/2028

2.40%,

10/15/2028

2.70%,

06/10/2031

4.90%,

10/06/2029

5.35%,

07/15/2027

5.35%,

01/07/2030

5.40%,

05/08/2027

5.45%,

07/15/2030

(d) 105

5.45%,

09/06/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Manufacturers

(continued)

General

Motors

Financial

Co

Inc

(continued)

5.55%,

07/15/2029

$

$

5.60%,

06/18/2031

5.80%,

01/07/2029

5.90%,

01/07/2035

6.00%,

01/09/2028

6.15%,

07/15/2035

6.40%,

01/09/2033

Honda

Motor

Co

Ltd

4.44%,

07/08/2028

5.34%,

07/08/2035

Mercedes-Benz

Finance

North

America

LLC

8.50%,

01/18/2031

PACCAR

Financial

Corp

4.25%,

06/23/2027

4.45%,

08/06/2027

4.60%,

01/31/2029

5.00%,

05/13/2027

Toyota

Motor

Corp

4.19%,

06/30/2027

5.05%,

06/30/2035

(d) 105

5.12%,

07/13/2028

Toyota

Motor

Credit

Corp

1.15%,

08/13/2027

1.65%,

01/10/2031

4.05%,

09/05/2028

4.35%,

10/08/2027

4.45%,

06/29/2029

4.50%,

05/14/2027

(d) 105

4.55%,

09/20/2027

4.55%,

05/17/2030

(d) 145

4.60%,

10/10/2031

4.63%,

01/12/2028

4.80%,

05/15/2030

4.80%,

01/05/2034

4.80%,

01/11/2036

(d) 95

4.95%,

01/09/2030

5.10%,

03/21/2031

$

10,296

Automobile

Parts

&

Equipment

-

.01

%

Aptiv

Swiss

Holdings

Ltd

3.25%,

03/01/2032

Banks

-

.47

%

Banco

Santander

SA

2.75%,

12/03/2030

3.22%,

11/22/2032

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.60%

3.49%,

05/28/2030

5.29%,

08/18/2027

5.44%,

07/15/2031

5.57%,

01/17/2030

5.59%,

08/08/2028

6.94%,

11/07/2033

Bank

of

America

Corp

1.90%,

07/23/2031

(f) 195

Secured

Overnight

Financing

Rate

+

1.53%

1.92%,

10/24/2031

(f) 170

Secured

Overnight

Financing

Rate

+

1.37%

2.09%,

06/14/2029

(f) 190

Secured

Overnight

Financing

Rate

+

1.06%

2.30%,

07/21/2032

(f) 230

Secured

Overnight

Financing

Rate

+

1.22%

2.48%,

09/21/2036

(f) 385

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.20%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

(continued)

2.50%,

02/13/2031

(f) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.57%,

10/20/2032

(f) 130

Secured

Overnight

Financing

Rate

+

1.21%

2.65%,

03/11/2032

(f) 205

Secured

Overnight

Financing

Rate

+

1.22%

2.68%,

06/19/2041

(f) 335

Secured

Overnight

Financing

Rate

+

1.93%

2.83%,

10/24/2051

(f) 225

Secured

Overnight

Financing

Rate

+

1.88%

2.97%,

02/04/2033

(f) 240

Secured

Overnight

Financing

Rate

+

1.33%

2.97%,

07/21/2052

(f) 190

Secured

Overnight

Financing

Rate

+

1.56%

3.19%,

07/23/2030

(f) 335

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

3.25%,

10/21/2027

3.31%,

04/22/2042

(f) 380

Secured

Overnight

Financing

Rate

+

1.58%

3.42%,

12/20/2028

(f) 371

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

3.48%,

03/13/2052

(f) 190

Secured

Overnight

Financing

Rate

+

1.65%

3.59%,

07/21/2028

(f) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.63%

3.97%,

02/07/2030

(f) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.47%

4.18%,

11/25/2027

4.27%,

07/23/2029

(f) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.33%,

03/15/2050

(f) 310

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.78%

4.46%,

02/06/2032

(f) 190

Secured

Overnight

Financing

Rate

+

0.87%

4.57%,

04/27/2033

(f) 290

Secured

Overnight

Financing

Rate

+

1.83%

4.62%,

05/09/2029

(f) 105

Secured

Overnight

Financing

Rate

+

1.11%

4.98%,

01/24/2029

(f) 180

Secured

Overnight

Financing

Rate

+

0.83%

5.00%,

01/21/2044

5.02%,

07/22/2033

(f) 340

Secured

Overnight

Financing

Rate

+

2.16%

5.05%,

02/06/2037

(f) 90

Secured

Overnight

Financing

Rate

+

1.13%

5.16%,

01/24/2031

(f) 180

Secured

Overnight

Financing

Rate

+

1.00%

5.20%,

04/25/2029

(f) 295

Secured

Overnight

Financing

Rate

+

1.63%

5.29%,

04/25/2034

(f) 295

Secured

Overnight

Financing

Rate

+

1.91%

5.43%,

08/15/2035

(f) 210

Secured

Overnight

Financing

Rate

+

1.91%

5.46%,

05/09/2036

(f) 215

Secured

Overnight

Financing

Rate

+

1.64%

5.47%,

01/23/2035

(f) 185

Secured

Overnight

Financing

Rate

+

1.65%

5.51%,

01/24/2036

(f) 255

Secured

Overnight

Financing

Rate

+

1.31%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

(continued)

5.52%,

10/25/2035

(f) $

$

Secured

Overnight

Financing

Rate

+

1.74%

5.82%,

09/15/2029

(f) 155

Secured

Overnight

Financing

Rate

+

1.57%

5.87%,

09/15/2034

(f) 305

Secured

Overnight

Financing

Rate

+

1.84%

5.88%,

02/07/2042

6.11%,

01/29/2037

7.75%,

05/14/2038

Bank

of

America

NA

6.00%,

10/15/2036

Bank

of

Montreal

3.09%,

01/10/2037

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.40%

4.35%,

09/22/2031

(f) 100

Secured

Overnight

Financing

Rate

+

1.08%

4.44%,

01/14/2032

(f) 95

Secured

Overnight

Financing

Rate

+

0.97%

4.64%,

09/10/2030

(f) 125

Secured

Overnight

Financing

Rate

+

1.25%

4.70%,

09/14/2027

5.37%,

06/04/2027

5.72%,

09/25/2028

Bank

of

New

York

Mellon

Corp/The

3.99%,

06/13/2028

(f) 175

Secured

Overnight

Financing

Rate

+

1.15%

4.03%,

01/22/2030

(f) 95

Secured

Overnight

Financing

Rate

+

0.63%

4.44%,

06/09/2028

(f) 270

Secured

Overnight

Financing

Rate

+

0.68%

4.54%,

02/01/2029

(f) 110

Secured

Overnight

Financing

Rate

+

1.17%

4.89%,

07/21/2028

(f) 145

Secured

Overnight

Financing

Rate

+

0.84%

4.94%,

02/11/2031

(f) 125

Secured

Overnight

Financing

Rate

+

0.89%

4.97%,

04/26/2034

(f) 110

Secured

Overnight

Financing

Rate

+

1.61%

5.06%,

07/22/2032

(f) 145

Secured

Overnight

Financing

Rate

+

1.23%

5.19%,

03/14/2035

(f) 195

Secured

Overnight

Financing

Rate

+

1.42%

5.32%,

06/06/2036

(f) 50

Secured

Overnight

Financing

Rate

+

1.35%

5.83%,

10/25/2033

(f) 150

Secured

Overnight

Financing

Rate

+

2.07%

6.32%,

10/25/2029

(f) 145

Secured

Overnight

Financing

Rate

+

1.60%

Bank

of

Nova

Scotia/The

4.04%,

09/15/2028

(f) 125

Secured

Overnight

Financing

Rate

+

0.76%

4.25%,

02/02/2030

(f) 190

Secured

Overnight

Financing

Rate

+

0.73%

4.74%,

11/10/2032

(f) 135

Secured

Overnight

Financing

Rate

+

1.44%

4.85%,

02/01/2030

5.40%,

06/04/2027

Barclays

PLC

2.65%,

06/24/2031

(f) 320

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

3.56%,

09/23/2035

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

4.52%,

02/24/2032

(f) 200

Secured

Overnight

Financing

Rate

+

1.14%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Barclays

PLC

(continued)

4.84%,

09/10/2028

(f) $

$

Secured

Overnight

Financing

Rate

+

1.34%

4.97%,

05/16/2029

(f) 210

Month

USD

LIBOR

+

1.90%

5.09%,

02/25/2029

(f) 200

Secured

Overnight

Financing

Rate

+

0.96%

5.69%,

03/12/2030

(f) 300

Secured

Overnight

Financing

Rate

+

1.74%

5.79%,

02/25/2036

(f) 200

Secured

Overnight

Financing

Rate

+

1.59%

6.22%,

05/09/2034

(f) 295

Secured

Overnight

Financing

Rate

+

2.98%

6.69%,

09/13/2034

(f) 305

Secured

Overnight

Financing

Rate

+

2.62%

Canadian

Imperial

Bank

of

Commerce

4.28%,

01/29/2030

(f) 95

Secured

Overnight

Financing

Rate

+

0.79%

4.58%,

09/08/2031

(f) 100

Secured

Overnight

Financing

Rate

+

1.17%

4.63%,

09/11/2030

(f) 135

Secured

Overnight

Financing

Rate

+

1.34%

5.00%,

04/28/2028

5.26%,

04/08/2029

5.99%,

10/03/2028

Citibank

NA

5.57%,

04/30/2034

5.80%,

09/29/2028

Citigroup

Inc

2.57%,

06/03/2031

(f) 320

Secured

Overnight

Financing

Rate

+

2.11%

2.67%,

01/29/2031

(f) 315

Secured

Overnight

Financing

Rate

+

1.15%

2.90%,

11/03/2042

(f) 195

Secured

Overnight

Financing

Rate

+

1.38%

2.98%,

11/05/2030

(f) 155

Secured

Overnight

Financing

Rate

+

1.42%

3.06%,

01/25/2033

(f) 185

Secured

Overnight

Financing

Rate

+

1.35%

3.67%,

07/24/2028

(f) 325

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.65%

3.79%,

03/17/2033

(f) 195

Secured

Overnight

Financing

Rate

+

1.94%

4.07%,

04/23/2029

(f) 240

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.45%

4.28%,

04/24/2048

(f) 165

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.10%

4.45%,

09/29/2027

4.50%,

09/11/2031

(f) 135

Secured

Overnight

Financing

Rate

+

1.17%

4.54%,

09/19/2030

(f) 270

Secured

Overnight

Financing

Rate

+

1.34%

4.65%,

07/30/2045

4.66%,

05/24/2028

(f) 365

Secured

Overnight

Financing

Rate

+

1.89%

4.91%,

05/24/2033

(f) 230

Secured

Overnight

Financing

Rate

+

2.09%

4.95%,

05/07/2031

(f) 215

Secured

Overnight

Financing

Rate

+

1.46%

5.17%,

02/13/2030

(f) 310

Secured

Overnight

Financing

Rate

+

1.36%

5.17%,

09/11/2036

(f) 210

Secured

Overnight

Financing

Rate

+

1.49%

5.30%,

05/06/2044

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Citigroup

Inc

(continued)

5.33%,

03/27/2036

(f) $

$

Secured

Overnight

Financing

Rate

+

1.47%

5.41%,

09/19/2039

(f) 135

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.73%

5.61%,

03/04/2056

(f) 125

Secured

Overnight

Financing

Rate

+

1.75%

5.83%,

02/13/2035

(f) 155

Secured

Overnight

Financing

Rate

+

2.06%

5.88%,

01/30/2042

6.02%,

01/24/2036

(f) 230

Secured

Overnight

Financing

Rate

+

1.83%

6.17%,

05/25/2034

(f) 295

Secured

Overnight

Financing

Rate

+

2.66%

6.27%,

11/17/2033

(f) 155

Secured

Overnight

Financing

Rate

+

2.34%

6.63%,

06/15/2032

6.68%,

09/13/2043

8.13%,

07/15/2039

Cooperatieve

Rabobank

UA

5.25%,

05/24/2041

5.25%,

08/04/2045

Cooperatieve

Rabobank

UA/NY

4.80%,

01/09/2029

Deutsche

Bank

AG/New

York

NY

4.95%,

08/04/2031

(f) 150

Secured

Overnight

Financing

Rate

+

1.30%

5.00%,

09/11/2030

(f) 275

Secured

Overnight

Financing

Rate

+

1.70%

5.30%,

05/09/2031

(f) 150

Secured

Overnight

Financing

Rate

+

1.72%

5.37%,

09/09/2027

5.37%,

01/10/2029

(f) 190

Secured

Overnight

Financing

Rate

+

1.21%

6.72%,

01/18/2029

(f) 150

Secured

Overnight

Financing

Rate

+

3.18%

7.08%,

02/10/2034

(f) 305

Secured

Overnight

Financing

Rate

+

3.65%

Fifth

Third

Bancorp

4.06%,

04/25/2028

(f) 150

Secured

Overnight

Financing

Rate

+

1.36%

5.14%,

01/29/2037

(f) 95

Secured

Overnight

Financing

Rate

+

1.24%

5.63%,

01/29/2032

(f) 150

Secured

Overnight

Financing

Rate

+

1.84%

6.34%,

07/27/2029

(f) 225

Secured

Overnight

Financing

Rate

+

2.34%

Goldman

Sachs

Group

Inc/The

1.99%,

01/27/2032

(f) 245

Secured

Overnight

Financing

Rate

+

1.09%

2.38%,

07/21/2032

(f) 285

Secured

Overnight

Financing

Rate

+

1.25%

2.60%,

02/07/2030

2.62%,

04/22/2032

(f) 190

Secured

Overnight

Financing

Rate

+

1.28%

2.65%,

10/21/2032

(f) 195

Secured

Overnight

Financing

Rate

+

1.26%

2.91%,

07/21/2042

(f) 185

Secured

Overnight

Financing

Rate

+

1.47%

3.10%,

02/24/2033

(f) 195

Secured

Overnight

Financing

Rate

+

1.41%

3.21%,

04/22/2042

(f) 190

Secured

Overnight

Financing

Rate

+

1.51%

3.44%,

02/24/2043

(f) 190

Secured

Overnight

Financing

Rate

+

1.63%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Goldman

Sachs

Group

Inc/The

(continued)

3.81%,

04/23/2029

(f) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.42%

4.15%,

01/21/2029

(f) 190

Secured

Overnight

Financing

Rate

+

0.71%

4.15%,

10/21/2029

(f) 100

Secured

Overnight

Financing

Rate

+

0.90%

4.22%,

05/01/2029

(f) 215

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.56%

4.37%,

10/21/2031

(f) 200

Secured

Overnight

Financing

Rate

+

1.06%

4.41%,

04/23/2039

(f) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

4.48%,

08/23/2028

(f) 280

Secured

Overnight

Financing

Rate

+

1.73%

4.52%,

01/21/2032

(f) 95

Secured

Overnight

Financing

Rate

+

0.96%

4.69%,

10/23/2030

(f) 265

Secured

Overnight

Financing

Rate

+

1.14%

4.80%,

07/08/2044

4.94%,

10/21/2036

(f) 100

Secured

Overnight

Financing

Rate

+

1.33%

5.02%,

10/23/2035

(f) 265

Secured

Overnight

Financing

Rate

+

1.42%

5.05%,

07/23/2030

(f) 315

Secured

Overnight

Financing

Rate

+

1.21%

5.07%,

01/21/2037

(f) 145

Secured

Overnight

Financing

Rate

+

1.19%

5.15%,

05/22/2045

5.21%,

01/28/2031

(f) 240

Secured

Overnight

Financing

Rate

+

1.08%

5.33%,

07/23/2035

(f) 250

Secured

Overnight

Financing

Rate

+

1.55%

5.54%,

01/28/2036

(f) 190

Secured

Overnight

Financing

Rate

+

1.38%

5.54%,

01/21/2047

(f) 145

Secured

Overnight

Financing

Rate

+

1.32%

5.56%,

11/19/2045

(f) 270

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

04/25/2030

(f) 265

Secured

Overnight

Financing

Rate

+

1.27%

5.73%,

01/28/2056

(f) 120

Secured

Overnight

Financing

Rate

+

1.70%

5.85%,

04/25/2035

(f) 180

Secured

Overnight

Financing

Rate

+

1.55%

6.48%,

10/24/2029

(f) 295

Secured

Overnight

Financing

Rate

+

1.77%

6.56%,

10/24/2034

(f) 145

Secured

Overnight

Financing

Rate

+

1.95%

6.75%,

10/01/2037

HSBC

Holdings

PLC

2.01%,

09/22/2028

(f) 335

Secured

Overnight

Financing

Rate

+

1.73%

2.85%,

06/04/2031

(f) 200

Secured

Overnight

Financing

Rate

+

2.39%

2.87%,

11/22/2032

(f) 200

Secured

Overnight

Financing

Rate

+

1.41%

3.97%,

05/22/2030

(f) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.87%

4.58%,

06/19/2029

(f) 365

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

4.76%,

06/09/2028

(f) 200

Secured

Overnight

Financing

Rate

+

2.11%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

HSBC

Holdings

PLC

(continued)

5.28%,

03/10/2037

(f) $

$

Secured

Overnight

Financing

Rate

+

1.55%

5.29%,

11/19/2030

(f) 270

Secured

Overnight

Financing

Rate

+

1.29%

5.40%,

08/11/2033

(f) 335

Secured

Overnight

Financing

Rate

+

2.87%

5.55%,

03/04/2030

(f) 310

Secured

Overnight

Financing

Rate

+

1.46%

5.72%,

03/04/2035

(f) 310

Secured

Overnight

Financing

Rate

+

1.78%

5.73%,

05/17/2032

(f) 300

Secured

Overnight

Financing

Rate

+

1.52%

5.74%,

09/10/2036

(f) 200

Secured

Overnight

Financing

Rate

+

1.96%

5.79%,

05/13/2036

(f) 215

Secured

Overnight

Financing

Rate

+

1.88%

5.87%,

11/18/2035

(f) 270

Secured

Overnight

Financing

Rate

+

1.90%

6.10%,

01/14/2042

6.16%,

03/09/2029

(f) 200

Secured

Overnight

Financing

Rate

+

1.97%

6.33%,

03/09/2044

(f) 215

Secured

Overnight

Financing

Rate

+

2.65%

6.55%,

06/20/2034

(f) 295

Secured

Overnight

Financing

Rate

+

2.98%

7.39%,

11/03/2028

(f) 305

Secured

Overnight

Financing

Rate

+

3.35%

Huntington

Bancshares

Inc/OH

2.55%,

02/04/2030

5.27%,

01/15/2031

(f) 135

Secured

Overnight

Financing

Rate

+

1.28%

5.61%,

01/28/2041

(f) 95

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.35%

Huntington

National

Bank/The

5.65%,

01/10/2030

ING

Groep

NV

2.73%,

04/01/2032

(f) 200

Secured

Overnight

Financing

Rate

+

1.32%

4.86%,

03/25/2029

(f) 250

Secured

Overnight

Financing

Rate

+

1.01%

5.34%,

03/19/2030

(f) 300

Secured

Overnight

Financing

Rate

+

1.44%

6.11%,

09/11/2034

(f) 230

Secured

Overnight

Financing

Rate

+

2.09%

JPMorgan

Chase

&

Co

1.95%,

02/04/2032

(f) 190

Secured

Overnight

Financing

Rate

+

1.07%

2.07%,

06/01/2029

(f) 295

Secured

Overnight

Financing

Rate

+

1.02%

2.18%,

06/01/2028

(f) 265

Secured

Overnight

Financing

Rate

+

1.89%

2.52%,

04/22/2031

(f) 190

Secured

Overnight

Financing

Rate

+

2.04%

2.53%,

11/19/2041

(f) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

2.55%,

11/08/2032

(f) 195

Secured

Overnight

Financing

Rate

+

1.18%

2.58%,

04/22/2032

(f) 190

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.74%,

10/15/2030

(f) 260

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

(continued)

2.96%,

05/13/2031

(f) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.52%

3.11%,

04/22/2041

(f) 190

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.46%

3.11%,

04/22/2051

(f) 105

Secured

Overnight

Financing

Rate

+

2.44%

3.33%,

04/22/2052

(f) 190

Secured

Overnight

Financing

Rate

+

1.58%

3.51%,

01/23/2029

(f) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.21%

3.63%,

12/01/2027

3.88%,

07/24/2038

(f) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.62%

3.96%,

11/15/2048

(f) 400

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.64%

4.01%,

04/23/2029

(f) 270

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.38%

4.03%,

07/24/2048

(f) 30

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.72%

4.20%,

07/23/2029

(f) 150

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.52%

4.25%,

10/01/2027

4.25%,

10/22/2031

(f) 200

Secured

Overnight

Financing

Rate

+

0.93%

4.35%,

01/22/2032

(f) 190

Secured

Overnight

Financing

Rate

+

0.84%

4.51%,

10/22/2028

(f) 200

Secured

Overnight

Financing

Rate

+

0.86%

4.57%,

06/14/2030

(f) 200

Secured

Overnight

Financing

Rate

+

1.75%

4.59%,

04/26/2033

(f) 195

Secured

Overnight

Financing

Rate

+

1.80%

4.60%,

10/22/2030

(f) 170

Secured

Overnight

Financing

Rate

+

1.04%

4.81%,

10/22/2036

(f) 175

Secured

Overnight

Financing

Rate

+

1.19%

4.85%,

07/25/2028

(f) 70

Secured

Overnight

Financing

Rate

+

1.99%

4.85%,

02/01/2044

4.90%,

01/22/2037

(f) 95

Secured

Overnight

Financing

Rate

+

1.07%

4.91%,

07/25/2033

(f) 340

Secured

Overnight

Financing

Rate

+

2.08%

4.95%,

10/22/2035

(f) 255

Secured

Overnight

Financing

Rate

+

1.34%

4.95%,

06/01/2045

4.98%,

07/22/2028

(f) 135

Secured

Overnight

Financing

Rate

+

0.93%

5.00%,

07/22/2030

(f) 145

Secured

Overnight

Financing

Rate

+

1.13%

5.01%,

01/23/2030

(f) 185

Secured

Overnight

Financing

Rate

+

1.31%

5.10%,

04/22/2031

(f) 240

Secured

Overnight

Financing

Rate

+

1.44%

5.14%,

01/24/2031

(f) 195

Secured

Overnight

Financing

Rate

+

1.01%

5.19%,

02/05/2037

(f) 95

Secured

Overnight

Financing

Rate

+

1.30%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

(continued)

5.29%,

07/22/2035

(f) $

$

Secured

Overnight

Financing

Rate

+

1.46%

5.30%,

07/24/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.45%

5.34%,

01/23/2035

(f) 215

Secured

Overnight

Financing

Rate

+

1.62%

5.35%,

06/01/2034

(f) 250

Secured

Overnight

Financing

Rate

+

1.85%

5.50%,

01/24/2036

(f) 205

Secured

Overnight

Financing

Rate

+

1.32%

5.53%,

11/29/2045

(f) 135

Secured

Overnight

Financing

Rate

+

1.55%

5.57%,

04/22/2028

(f) 300

Secured

Overnight

Financing

Rate

+

0.93%

5.57%,

04/22/2036

(f) 115

Secured

Overnight

Financing

Rate

+

1.68%

5.58%,

04/22/2030

(f) 200

Secured

Overnight

Financing

Rate

+

1.16%

5.58%,

07/23/2036

(f) 100

Secured

Overnight

Financing

Rate

+

1.64%

5.60%,

07/15/2041

5.63%,

08/16/2043

5.72%,

09/14/2033

(f) 160

Secured

Overnight

Financing

Rate

+

2.58%

5.77%,

04/22/2035

(f) 195

Secured

Overnight

Financing

Rate

+

1.49%

6.09%,

10/23/2029

(f) 295

Secured

Overnight

Financing

Rate

+

1.57%

6.25%,

10/23/2034

(f) 295

Secured

Overnight

Financing

Rate

+

1.81%

6.40%,

05/15/2038

Keybank

National

Association

5.85%,

11/15/2027

KeyCorp

2.55%,

10/01/2029

5.31%,

01/28/2037

(f) 95

Secured

Overnight

Financing

Rate

+

1.37%

Korea

Development

Bank/The

3.75%,

09/16/2030

4.00%,

01/28/2031

4.38%,

02/15/2028

5.63%,

10/23/2033

Kreditanstalt

fuer

Wiederaufbau

0.00%,

04/18/2036

(g) 205

0.00%,

06/29/2037

(g) 200

2.88%,

04/03/2028

3.00%,

05/20/2027

3.50%,

08/27/2027

3.50%,

08/09/2028

3.50%,

05/15/2029

3.75%,

02/15/2028

3.75%,

07/15/2030

3.75%,

03/14/2031

3.88%,

05/15/2028

3.88%,

06/15/2028

4.00%,

06/28/2027

4.00%,

03/15/2029

4.13%,

07/15/2033

4.38%,

02/28/2034

4.63%,

03/18/2030

4.75%,

10/29/2030

Landwirtschaftliche

Rentenbank

0.88%,

09/03/2030

3.63%,

10/08/2030

3.88%,

09/28/2027

3.88%,

06/14/2028

4.13%,

05/28/2030

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Landwirtschaftliche

Rentenbank

(continued)

4.63%,

04/17/2029

$

$

Lloyds

Banking

Group

PLC

4.82%,

06/13/2029

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.83%

5.09%,

11/26/2028

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.85%

5.30%,

12/01/2045

5.67%,

02/10/2047

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.82%

5.68%,

01/05/2035

(f) 305

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.75%

M&T

Bank

Corp

5.18%,

07/08/2031

(f) 105

Secured

Overnight

Financing

Rate

+

1.40%

Mitsubishi

UFJ

Financial

Group

Inc

2.05%,

07/17/2030

2.56%,

02/25/2030

3.20%,

07/18/2029

4.32%,

04/19/2033

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.55%

4.53%,

09/12/2031

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.80%

5.13%,

07/20/2033

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.13%

5.16%,

04/24/2031

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.35%,

09/13/2028

(f) 325

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

5.41%,

04/19/2034

(d),(f)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.97%

5.57%,

01/16/2036

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

Mizuho

Financial

Group

Inc

2.20%,

07/10/2031

(f) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.77%

2.26%,

07/09/2032

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.90%

3.15%,

07/16/2030

(f) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.39%

5.41%,

09/13/2028

(f) 325

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.05%

5.59%,

07/10/2035

(f) 295

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.30%

5.74%,

05/27/2031

(f) 305

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.65%

5.75%,

07/06/2034

(f) 300

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

1.79%,

02/13/2032

(f) $

$

Secured

Overnight

Financing

Rate

+

1.03%

1.93%,

04/28/2032

(f) 105

Secured

Overnight

Financing

Rate

+

1.02%

2.24%,

07/21/2032

(f) 190

Secured

Overnight

Financing

Rate

+

1.18%

2.48%,

09/16/2036

(f) 265

Secured

Overnight

Financing

Rate

+

1.36%

2.51%,

10/20/2032

(f) 180

Secured

Overnight

Financing

Rate

+

1.20%

2.80%,

01/25/2052

(f) 120

Secured

Overnight

Financing

Rate

+

1.43%

2.94%,

01/21/2033

(f) 140

Secured

Overnight

Financing

Rate

+

1.29%

3.22%,

04/22/2042

(f) 190

Secured

Overnight

Financing

Rate

+

1.49%

3.59%,

07/22/2028

Month

USD

LIBOR

+

1.34%

3.77%,

01/24/2029

(f) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

3.95%,

04/23/2027

3.97%,

07/22/2038

Month

USD

LIBOR

+

1.46%

4.13%,

10/18/2029

(f) 100

Secured

Overnight

Financing

Rate

+

0.91%

4.24%,

01/09/2030

(f) 190

Secured

Overnight

Financing

Rate

+

0.80%

4.30%,

01/27/2045

4.36%,

10/22/2031

(f) 100

Secured

Overnight

Financing

Rate

+

1.07%

4.38%,

01/22/2047

4.65%,

10/18/2030

(f) 170

Secured

Overnight

Financing

Rate

+

1.10%

4.89%,

07/20/2033

(f) 225

Secured

Overnight

Financing

Rate

+

2.08%

4.89%,

10/22/2036

(f) 195

Secured

Overnight

Financing

Rate

+

1.31%

5.04%,

07/19/2030

(f) 140

Secured

Overnight

Financing

Rate

+

1.22%

5.07%,

01/30/2037

(f) 190

Secured

Overnight

Financing

Rate

+

1.18%

5.12%,

02/01/2029

(f) 175

Secured

Overnight

Financing

Rate

+

1.73%

5.16%,

04/20/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.59%

5.17%,

01/16/2030

(f) 230

Secured

Overnight

Financing

Rate

+

1.45%

5.19%,

04/17/2031

(f) 230

Secured

Overnight

Financing

Rate

+

1.51%

5.23%,

01/15/2031

(f) 205

Secured

Overnight

Financing

Rate

+

1.11%

5.25%,

04/21/2034

(f) 295

Secured

Overnight

Financing

Rate

+

1.87%

5.31%,

01/18/2041

(f) 70

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.32%,

07/19/2035

(f) 290

Secured

Overnight

Financing

Rate

+

1.56%

5.42%,

07/21/2034

(f) 150

Secured

Overnight

Financing

Rate

+

1.88%

5.45%,

07/20/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.63%

5.47%,

01/18/2035

(f) 155

Secured

Overnight

Financing

Rate

+

1.73%

5.52%,

11/19/2055

(f) 170

Secured

Overnight

Financing

Rate

+

1.71%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

(continued)

5.59%,

01/18/2036

(f) $

$

Secured

Overnight

Financing

Rate

+

1.42%

5.60%,

03/24/2051

(f) 200

Secured

Overnight

Financing

Rate

+

4.84%

5.66%,

04/18/2030

(f) 300

Secured

Overnight

Financing

Rate

+

1.26%

5.66%,

04/17/2036

(f) 185

Secured

Overnight

Financing

Rate

+

1.76%

5.83%,

04/19/2035

(f) 90

Secured

Overnight

Financing

Rate

+

1.58%

5.90%,

03/13/2047

(f) 185

Secured

Overnight

Financing

Rate

+

1.78%

5.95%,

01/19/2038

(f) 150

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.43%

6.30%,

10/18/2028

(f) 145

Secured

Overnight

Financing

Rate

+

2.24%

6.34%,

10/18/2033

(f) 150

Secured

Overnight

Financing

Rate

+

2.56%

6.38%,

07/24/2042

6.41%,

11/01/2029

(f) 200

Secured

Overnight

Financing

Rate

+

1.83%

6.63%,

11/01/2034

(f) 185

Secured

Overnight

Financing

Rate

+

2.05%

Morgan

Stanley

Bank

NA

4.97%,

07/14/2028

(f) 285

Secured

Overnight

Financing

Rate

+

0.93%

5.02%,

01/12/2029

(f) 290

Secured

Overnight

Financing

Rate

+

0.91%

Morgan

Stanley

Private

Bank

NA

4.21%,

02/08/2030

(f) 250

Secured

Overnight

Financing

Rate

+

0.76%

4.47%,

11/19/2031

(f) 250

Secured

Overnight

Financing

Rate

+

1.02%

4.73%,

07/18/2031

(f) 250

Secured

Overnight

Financing

Rate

+

1.08%

National

Australia

Bank

Ltd/New

York

3.85%,

12/13/2028

4.53%,

06/13/2030

5.09%,

06/11/2027

NatWest

Group

PLC

4.89%,

05/18/2029

(f) 200

Month

USD

LIBOR

+

1.75%

5.08%,

01/27/2030

(f) 400

Month

USD

LIBOR

+

1.91%

5.12%,

05/23/2031

(f) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

Northern

Trust

Corp

4.00%,

05/10/2027

Oesterreichische

Kontrollbank

AG

3.63%,

09/09/2027

3.75%,

09/05/2029

3.75%,

09/10/2030

4.00%,

05/28/2028

4.25%,

03/01/2028

4.50%,

01/24/2030

4.75%,

05/21/2027

PNC

Bank

NA

2.70%,

10/22/2029

PNC

Financial

Services

Group

Inc/The

2.31%,

04/23/2032

(f) 150

Secured

Overnight

Financing

Rate

+

0.98%

2.55%,

01/22/2030

4.08%,

01/26/2029

(f) 95

Secured

Overnight

Financing

Rate

+

0.61%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

PNC

Financial

Services

Group

Inc/The

(continued)

4.63%,

06/06/2033

(f) $

$

Secured

Overnight

Financing

Rate

+

1.85%

4.90%,

05/13/2031

(f) 105

Secured

Overnight

Financing

Rate

+

1.33%

5.22%,

01/29/2031

(f) 155

Secured

Overnight

Financing

Rate

+

1.07%

5.35%,

12/02/2028

(f) 105

Secured

Overnight

Financing

Rate

+

1.62%

5.37%,

07/21/2036

(f) 80

Secured

Overnight

Financing

Rate

+

1.42%

5.40%,

07/23/2035

(f) 315

Secured

Overnight

Financing

Rate

+

1.60%

5.42%,

01/25/2041

(f) 95

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.68%,

01/22/2035

(f) 75

Secured

Overnight

Financing

Rate

+

1.90%

5.94%,

08/18/2034

(f) 305

Secured

Overnight

Financing

Rate

+

1.95%

Royal

Bank

of

Canada

3.63%,

05/04/2027

3.88%,

05/04/2032

4.50%,

08/06/2029

(f) 100

Secured

Overnight

Financing

Rate

+

0.89%

4.65%,

10/18/2030

(f) 200

Secured

Overnight

Financing

Rate

+

1.08%

4.95%,

02/01/2029

4.97%,

01/24/2029

(f) 190

Secured

Overnight

Financing

Rate

+

0.83%

4.97%,

05/02/2031

(f) 235

Secured

Overnight

Financing

Rate

+

1.13%

5.00%,

05/02/2033

5.15%,

02/04/2031

(f) 190

Secured

Overnight

Financing

Rate

+

1.03%

6.00%,

11/01/2027

Santander

Holdings

USA

Inc

5.35%,

09/06/2030

(f) 135

Secured

Overnight

Financing

Rate

+

1.94%

5.47%,

03/20/2029

(f) 120

Secured

Overnight

Financing

Rate

+

1.61%

Santander

UK

Group

Holdings

PLC

4.32%,

09/22/2029

(f) 205

Secured

Overnight

Financing

Rate

+

1.07%

State

Street

Corp

2.20%,

03/03/2031

4.42%,

05/13/2033

(f) 185

Secured

Overnight

Financing

Rate

+

1.61%

4.54%,

02/28/2028

4.68%,

10/22/2032

(f) 70

Secured

Overnight

Financing

Rate

+

1.05%

4.78%,

10/23/2036

(f) 55

Secured

Overnight

Financing

Rate

+

1.22%

4.82%,

01/26/2034

(f) 65

Secured

Overnight

Financing

Rate

+

1.57%

4.83%,

04/24/2030

5.15%,

02/28/2036

(f) 125

Secured

Overnight

Financing

Rate

+

1.22%

5.68%,

11/21/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.48%

Sumitomo

Mitsui

Financial

Group

Inc

1.90%,

09/17/2028

2.13%,

07/08/2030

2.14%,

09/23/2030

3.04%,

07/16/2029

3.36%,

07/12/2027

5.42%,

07/09/2031

5.63%,

01/15/2035

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Sumitomo

Mitsui

Financial

Group

Inc

(continued)

5.77%,

01/13/2033

$

$

5.80%,

07/13/2028

5.80%,

07/08/2046

(f) 105

Secured

Overnight

Financing

Rate

+

1.78%

5.81%,

09/14/2033

6.18%,

07/13/2043

Toronto-Dominion

Bank/The

3.20%,

03/10/2032

3.91%,

01/13/2028

4.11%,

06/08/2027

4.46%,

06/08/2032

4.57%,

06/02/2028

4.69%,

09/15/2027

4.78%,

12/17/2029

4.81%,

06/03/2030

4.93%,

10/15/2035

4.99%,

04/05/2029

5.30%,

01/30/2032

5.52%,

07/17/2028

Truist

Financial

Corp

1.13%,

08/03/2027

1.89%,

06/07/2029

(f) 175

Secured

Overnight

Financing

Rate

+

0.86%

1.95%,

06/05/2030

4.12%,

06/06/2028

(f) 135

Secured

Overnight

Financing

Rate

+

1.37%

4.87%,

01/26/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.44%

4.96%,

10/23/2036

(f) 195

Secured

Overnight

Financing

Rate

+

1.40%

5.07%,

05/20/2031

(f) 105

Secured

Overnight

Financing

Rate

+

1.31%

5.12%,

01/26/2034

(f) 150

Secured

Overnight

Financing

Rate

+

1.85%

5.15%,

08/05/2032

(f) 140

Secured

Overnight

Financing

Rate

+

1.57%

5.44%,

01/24/2030

(f) 75

Secured

Overnight

Financing

Rate

+

1.62%

5.71%,

01/24/2035

(f) 60

Secured

Overnight

Financing

Rate

+

1.92%

5.87%,

06/08/2034

(f) 150

Secured

Overnight

Financing

Rate

+

2.36%

UBS

Group

AG

4.88%,

05/15/2045

US

Bancorp

2.49%,

11/03/2036

(f) 175

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

3.00%,

07/30/2029

3.15%,

04/27/2027

4.48%,

01/26/2032

(f) 140

Secured

Overnight

Financing

Rate

+

0.87%

4.65%,

02/01/2029

(f) 130

Secured

Overnight

Financing

Rate

+

1.23%

4.84%,

02/01/2034

(f) 130

Secured

Overnight

Financing

Rate

+

1.60%

5.05%,

02/12/2031

(f) 255

Secured

Overnight

Financing

Rate

+

1.06%

5.38%,

01/23/2030

(f) 60

Secured

Overnight

Financing

Rate

+

1.56%

5.68%,

01/23/2035

(f) 45

Secured

Overnight

Financing

Rate

+

1.86%

5.84%,

06/12/2034

(f) 175

Secured

Overnight

Financing

Rate

+

2.26%

5.85%,

10/21/2033

(f) 150

Secured

Overnight

Financing

Rate

+

2.09%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

US

Bank

NA/Cincinnati

OH

4.73%,

05/15/2028

(f) $

$

Secured

Overnight

Financing

Rate

+

0.91%

Wells

Fargo

&

Co

2.39%,

06/02/2028

(f) 250

Secured

Overnight

Financing

Rate

+

2.10%

3.07%,

04/30/2041

(f) 280

Secured

Overnight

Financing

Rate

+

2.53%

3.35%,

03/02/2033

(f) 235

Secured

Overnight

Financing

Rate

+

1.50%

3.58%,

05/22/2028

(f) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.08%,

09/15/2029

(f) 210

Secured

Overnight

Financing

Rate

+

0.88%

4.40%,

06/14/2046

4.48%,

04/04/2031

(f) 245

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.03%

4.61%,

04/25/2053

(f) 200

Secured

Overnight

Financing

Rate

+

2.13%

4.65%,

11/04/2044

4.81%,

07/25/2028

(f) 170

Secured

Overnight

Financing

Rate

+

1.98%

4.89%,

09/15/2036

(f) 105

Secured

Overnight

Financing

Rate

+

1.34%

4.90%,

07/25/2033

(f) 170

Secured

Overnight

Financing

Rate

+

2.10%

4.90%,

11/17/2045

4.96%,

01/23/2037

(f) 95

Secured

Overnight

Financing

Rate

+

1.10%

4.97%,

04/23/2029

(f) 110

Secured

Overnight

Financing

Rate

+

1.37%

5.01%,

04/04/2051

(f) 325

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

5.15%,

04/23/2031

(f) 170

Secured

Overnight

Financing

Rate

+

1.50%

5.20%,

01/23/2030

(f) 200

Secured

Overnight

Financing

Rate

+

1.50%

5.21%,

12/03/2035

(f) 265

Secured

Overnight

Financing

Rate

+

1.38%

5.24%,

01/24/2031

(f) 180

Secured

Overnight

Financing

Rate

+

1.11%

5.38%,

11/02/2043

5.39%,

04/24/2034

(f) 210

Secured

Overnight

Financing

Rate

+

2.02%

5.43%,

01/23/2047

(f) 190

Secured

Overnight

Financing

Rate

+

1.23%

5.50%,

01/23/2035

(f) 305

Secured

Overnight

Financing

Rate

+

1.78%

5.56%,

07/25/2034

(f) 225

Secured

Overnight

Financing

Rate

+

1.99%

5.57%,

07/25/2029

(f) 225

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

04/23/2036

(f) 110

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

01/15/2044

6.30%,

10/23/2029

(f) 170

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/23/2034

(f) 195

Secured

Overnight

Financing

Rate

+

2.06%

Wells

Fargo

Bank

NA

5.95%,

08/26/2036

500

521

6.60%,

01/15/2038

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Westpac

Banking

Corp

2.96%,

11/16/2040

$

$

3.02%,

11/18/2036

(f) 150

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.53%

4.11%,

07/24/2034

(f) 165

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

4.35%,

07/01/2030

4.42%,

07/24/2039

5.05%,

04/16/2029

5.46%,

11/18/2027

$

92,676

Beverages

-

.44

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

630

614

4.90%,

02/01/2046

824

743

Anheuser-Busch

InBev

Worldwide

Inc

4.75%,

01/23/2029

5.00%,

06/15/2034

5.45%,

01/23/2039

5.80%,

01/23/2059

8.20%,

01/15/2039

Coca-Cola

Co/The

1.00%,

03/15/2028

1.50%,

03/05/2028

1.65%,

06/01/2030

2.50%,

06/01/2040

2.88%,

05/05/2041

5.00%,

05/13/2034

5.30%,

05/13/2054

Constellation

Brands

Inc

2.25%,

08/01/2031

3.15%,

08/01/2029

4.35%,

05/09/2027

4.90%,

05/01/2033

4.95%,

11/01/2035

Diageo

Capital

PLC

2.38%,

10/24/2029

5.30%,

10/24/2027

5.63%,

10/05/2033

5.88%,

09/30/2036

Keurig

Dr

Pepper

Inc

2.25%,

03/15/2031

3.35%,

03/15/2051

3.95%,

04/15/2029

4.05%,

04/15/2032

4.50%,

04/15/2052

5.15%,

05/15/2035

Molson

Coors

Beverage

Co

5.00%,

05/01/2042

PepsiCo

Inc

1.63%,

05/01/2030

1.95%,

10/21/2031

2.63%,

07/29/2029

2.88%,

10/15/2049

3.60%,

02/18/2028

4.20%,

07/18/2052

4.30%,

07/23/2030

(d) 100

4.45%,

02/07/2028

4.45%,

05/15/2028

4.65%,

07/23/2032

4.80%,

07/17/2034

5.00%,

02/07/2035

Pepsico

Singapore

Financing

I

Pte

Ltd

4.55%,

02/16/2029

$

7,407

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Biotechnology

-

.30

%

Amgen

Inc

1.65%,

08/15/2028

$

$

2.45%,

02/21/2030

3.00%,

02/22/2029

3.15%,

02/21/2040

3.38%,

02/21/2050

4.20%,

02/22/2052

4.40%,

05/01/2045

4.66%,

06/15/2051

4.88%,

03/01/2053

5.15%,

03/02/2028

5.25%,

03/02/2030

5.25%,

03/02/2033

5.60%,

03/02/2043

5.65%,

03/02/2053

5.75%,

03/02/2063

Baxalta

Inc

5.25%,

06/23/2045

Biogen

Inc

2.25%,

05/01/2030

5.20%,

09/15/2045

Gilead

Sciences

Inc

1.65%,

10/01/2030

2.60%,

10/01/2040

2.80%,

10/01/2050

4.00%,

09/01/2036

4.60%,

09/01/2035

5.10%,

06/15/2035

5.25%,

10/15/2033

5.50%,

11/15/2054

5.55%,

10/15/2053

Royalty

Pharma

PLC

1.75%,

09/02/2027

2.20%,

09/02/2030

3.30%,

09/02/2040

5.95%,

09/25/2055

$

5,130

Building

Materials

-

.21

%

Carrier

Global

Corp

2.72%,

02/15/2030

3.38%,

04/05/2040

3.58%,

04/05/2050

5.90%,

03/15/2034

6.20%,

03/15/2054

CRH

America

Finance

Inc

4.40%,

02/09/2031

5.50%,

01/09/2035

5.60%,

02/09/2056

Johnson

Controls

International

plc

4.50%,

02/15/2047

Johnson

Controls

International

plc

/

Tyco

Fire

&

Security

Finance

SCA

2.00%,

09/16/2031

Martin

Marietta

Materials

Inc

2.50%,

03/15/2030

5.15%,

12/01/2034

Masco

Corp

1.50%,

02/15/2028

Owens

Corning

5.50%,

06/15/2027

5.70%,

06/15/2034

Trane

Technologies

Financing

Ltd

3.80%,

03/21/2029

5.10%,

06/13/2034

Vulcan

Materials

Co

3.50%,

06/01/2030

5.35%,

12/01/2034

$

3,493

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

-

.24

%

Air

Products

and

Chemicals

Inc

2.80%,

05/15/2050

$

$

4.60%,

02/08/2029

4.80%,

03/03/2033

4.90%,

10/11/2032

Dow

Chemical

Co/The

2.10%,

11/15/2030

3.60%,

11/15/2050

4.38%,

11/15/2042

4.80%,

05/15/2049

5.15%,

02/15/2034

5.65%,

03/15/2036

9.40%,

05/15/2039

DuPont

de

Nemours

Inc

4.73%,

11/15/2028

(e) 97

Eastman

Chemical

Co

4.80%,

09/01/2042

Ecolab

Inc

1.30%,

01/30/2031

2.75%,

08/18/2055

4.30%,

06/15/2028

4.80%,

03/24/2030

5.00%,

09/01/2035

LYB

International

Finance

III

LLC

2.25%,

10/01/2030

3.63%,

04/01/2051

4.20%,

10/15/2049

5.63%,

05/15/2033

Nutrien

Ltd

4.20%,

04/01/2029

5.40%,

06/21/2034

5.80%,

03/27/2053

Sherwin-Williams

Co/The

2.30%,

05/15/2030

2.95%,

08/15/2029

3.30%,

05/15/2050

3.80%,

08/15/2049

4.30%,

08/15/2028

Westlake

Corp

3.13%,

08/15/2051

$

4,043

Commercial

Mortgage

Backed

Securities

-

.77

%

BANK

2018-BNK10

3.69%,

02/15/2061

1,850

1,825

Citigroup

Commercial

Mortgage

Trust

2016-GC36

3.62%,

02/10/2049

Fannie

Mae-Aces

2.42%,

10/25/2026

(h) 619

613

2.86%,

02/25/2027

(h) 479

2.96%,

02/25/2027

(h) 730

723

2.99%,

12/25/2027

(h) 588

579

3.37%,

07/25/2028

(h) 1,859

1,832

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

3.41%,

12/25/2026

1,482

1,474

GS

Mortgage

Securities

Trust

2017-GS5

3.47%,

03/10/2050

GS

Mortgage

Securities

Trust

2018-GS9

3.99%,

03/10/2051

(h) 1,500

1,484

Morgan

Stanley

Capital

I

Trust

2017-H1

3.26%,

06/15/2050

2,500

2,470

SG

Commercial

Mortgage

Securities

Trust

2016-C5

3.06%,

10/10/2048

1,000

995

$

13,050

Commercial

Services

-

.20

%

American

University/The

3.67%,

04/01/2049

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Services

(continued)

California

Institute

of

Technology

4.32%,

08/01/2045

$

$

Global

Payments

Inc

3.20%,

08/15/2029

4.15%,

08/15/2049

4.50%,

11/15/2028

4.88%,

11/15/2030

5.20%,

11/15/2032

5.55%,

11/15/2035

Massachusetts

Institute

of

Technology

3.89%,

07/01/2116

4.68%,

07/01/2114

Moody's

Corp

4.25%,

08/08/2032

5.00%,

08/05/2034

5.25%,

07/15/2044

PayPal

Holdings

Inc

2.30%,

06/01/2030

(d) 160

2.85%,

10/01/2029

3.90%,

06/01/2027

4.40%,

06/01/2032

5.50%,

06/01/2054

S&P

Global

Inc

1.25%,

08/15/2030

2.50%,

12/01/2029

3.25%,

12/01/2049

3.70%,

03/01/2052

5.25%,

09/15/2033

TR

Finance

LLC

5.85%,

04/15/2040

University

of

Southern

California

5.25%,

10/01/2111

William

Marsh

Rice

University

3.57%,

05/15/2045

$

3,455

Computers

-

.52

%

Apple

Inc

1.20%,

02/08/2028

1.40%,

08/05/2028

1.65%,

05/11/2030

(d) 160

1.65%,

02/08/2031

2.20%,

09/11/2029

2.65%,

05/11/2050

2.80%,

02/08/2061

2.90%,

09/12/2027

2.95%,

09/11/2049

3.20%,

05/11/2027

3.25%,

08/08/2029

3.45%,

02/09/2045

3.75%,

09/12/2047

3.75%,

11/13/2047

3.85%,

05/04/2043

3.95%,

08/08/2052

4.20%,

05/12/2030

(d) 105

4.30%,

05/10/2033

(d) 150

4.50%,

05/12/2032

4.65%,

02/23/2046

4.75%,

05/12/2035

Dell

International

LLC

/

EMC

Corp

3.45%,

12/15/2051

4.35%,

02/01/2030

4.50%,

02/15/2031

4.75%,

04/01/2028

5.10%,

02/15/2036

5.25%,

02/01/2028

5.30%,

04/01/2032

5.40%,

04/15/2034

8.10%,

07/15/2036

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Computers

(continued)

Dell

International

LLC

/

EMC

Corp

(continued)

8.35%,

07/15/2046

$

$

Hewlett

Packard

Enterprise

Co

4.05%,

09/15/2027

4.55%,

10/15/2029

4.85%,

10/15/2031

5.00%,

10/15/2034

6.20%,

10/15/2035

6.35%,

10/15/2045

HP

Inc

3.00%,

06/17/2027

4.75%,

01/15/2028

6.00%,

09/15/2041

(d) 154

6.10%,

04/25/2035

(d) 115

IBM

International

Capital

Pte

Ltd

4.75%,

02/05/2031

4.90%,

02/05/2034

International

Business

Machines

Corp

3.50%,

05/15/2029

4.00%,

06/20/2042

4.15%,

05/15/2039

4.25%,

05/15/2049

4.40%,

07/27/2032

4.50%,

02/06/2028

4.65%,

02/10/2028

4.70%,

02/19/2046

5.10%,

02/06/2053

5.60%,

11/30/2039

5.70%,

02/10/2055

5.88%,

11/29/2032

(d) 100

6.22%,

08/01/2027

NetApp

Inc

2.38%,

06/22/2027

$

8,893

Consumer

Products

-

.01

%

Church

&

Dwight

Co

Inc

3.95%,

08/01/2047

Cosmetics

&

Personal

Care

-

.15

%

Colgate-Palmolive

Co

4.20%,

05/01/2030

(d) 110

Estee

Lauder

Cos

Inc/The

1.95%,

03/15/2031

2.38%,

12/01/2029

Haleon

US

Capital

LLC

3.63%,

03/24/2032

Kenvue

Inc

4.85%,

05/22/2032

4.90%,

03/22/2033

5.05%,

03/22/2028

5.05%,

03/22/2053

5.10%,

03/22/2043

Procter

&

Gamble

Co/The

3.55%,

03/25/2040

4.10%,

11/03/2032

(d) 95

4.60%,

05/01/2035

(d) 110

Unilever

Capital

Corp

1.38%,

09/14/2030

4.63%,

08/12/2034

4.88%,

09/08/2028

5.90%,

11/15/2032

$

2,532

Diversified

Financial

Services

-

.78

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

3.00%,

10/29/2028

3.30%,

01/30/2032

3.40%,

10/29/2033

3.88%,

01/23/2028

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

(continued)

4.38%,

11/15/2030

$

$

4.88%,

04/01/2028

4.95%,

09/10/2034

5.10%,

01/19/2029

5.38%,

12/15/2031

Air

Lease

Corp

2.10%,

09/01/2028

2.88%,

01/15/2032

(d) 200

3.25%,

10/01/2029

5.10%,

03/01/2029

5.20%,

07/15/2031

Ally

Financial

Inc

2.20%,

11/02/2028

4.75%,

06/09/2027

5.55%,

07/31/2033

(f) 100

Secured

Overnight

Financing

Rate

+

1.78%

8.00%,

11/01/2031

American

Express

Co

3.30%,

05/03/2027

4.05%,

12/03/2042

4.46%,

02/10/2032

(f) 90

Secured

Overnight

Financing

Rate

+

0.87%

4.73%,

04/25/2029

(f) 230

Secured

Overnight

Financing

Rate

+

1.26%

4.80%,

10/24/2036

(f) 95

Secured

Overnight

Financing

Rate

+

1.24%

4.92%,

07/20/2033

(f) 210

Secured

Overnight

Financing

Rate

+

1.22%

5.09%,

01/30/2031

(f) 190

Secured

Overnight

Financing

Rate

+

1.02%

5.28%,

07/27/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.28%

5.28%,

07/26/2035

(f) 215

Secured

Overnight

Financing

Rate

+

1.42%

5.41%,

02/08/2041

(f) 90

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.15%

5.53%,

04/25/2030

(f) 150

Secured

Overnight

Financing

Rate

+

1.09%

5.67%,

04/25/2036

(f) 110

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/30/2031

(f) 75

Secured

Overnight

Financing

Rate

+

1.94%

BlackRock

Funding

Inc

5.35%,

01/08/2055

Blackrock

Inc

2.10%,

02/25/2032

2.40%,

04/30/2030

Capital

One

Financial

Corp

2.36%,

07/29/2032

(f) 190

Secured

Overnight

Financing

Rate

+

1.34%

4.49%,

09/11/2031

(f) 105

Secured

Overnight

Financing

Rate

+

1.25%

4.93%,

05/10/2028

(f) 255

Secured

Overnight

Financing

Rate

+

2.06%

5.20%,

09/11/2036

(f) 105

Secured

Overnight

Financing

Rate

+

1.63%

5.46%,

07/26/2030

(f) 70

Secured

Overnight

Financing

Rate

+

1.56%

5.70%,

02/01/2030

(f) 155

Secured

Overnight

Financing

Rate

+

1.91%

5.82%,

02/01/2034

(f) 150

Secured

Overnight

Financing

Rate

+

2.60%

5.88%,

07/26/2035

(f) 70

Secured

Overnight

Financing

Rate

+

1.99%

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Capital

One

Financial

Corp

(continued)

6.05%,

02/01/2035

(f) $

$

Secured

Overnight

Financing

Rate

+

2.26%

6.18%,

01/30/2036

(f) 65

Secured

Overnight

Financing

Rate

+

2.04%

6.31%,

06/08/2029

(f) 150

Secured

Overnight

Financing

Rate

+

2.64%

7.62%,

10/30/2031

(f) 225

Secured

Overnight

Financing

Rate

+

3.07%

Charles

Schwab

Corp/The

1.65%,

03/11/2031

2.00%,

03/20/2028

4.91%,

11/14/2036

(f) 95

Secured

Overnight

Financing

Rate

+

1.23%

5.64%,

05/19/2029

(f) 150

Secured

Overnight

Financing

Rate

+

2.21%

6.14%,

08/24/2034

(f) 155

Secured

Overnight

Financing

Rate

+

2.01%

6.20%,

11/17/2029

(f) 150

Secured

Overnight

Financing

Rate

+

1.88%

Intercontinental

Exchange

Inc

2.10%,

06/15/2030

2.65%,

09/15/2040

3.00%,

09/15/2060

3.95%,

12/01/2028

4.00%,

09/15/2027

4.25%,

09/21/2048

4.95%,

06/15/2052

Jefferies

Financial

Group

Inc

2.63%,

10/15/2031

4.15%,

01/23/2030

5.50%,

02/15/2036

6.50%,

01/20/2043

Mastercard

Inc

2.00%,

11/18/2031

2.95%,

03/15/2051

3.35%,

03/26/2030

3.85%,

03/26/2050

4.55%,

03/15/2028

4.55%,

01/15/2035

Nasdaq

Inc

2.50%,

12/21/2040

5.35%,

06/28/2028

5.95%,

08/15/2053

Nomura

Holdings

Inc

2.68%,

07/16/2030

5.84%,

01/18/2028

6.09%,

07/12/2033

Synchrony

Financial

4.95%,

02/25/2032

(f) 90

Secured

Overnight

Financing

Rate

+

1.53%

5.02%,

07/29/2029

(f) 100

Secured

Overnight

Financing

Rate

+

1.40%

Visa

Inc

1.90%,

04/15/2027

2.05%,

04/15/2030

2.70%,

04/15/2040

3.65%,

09/15/2047

4.10%,

02/12/2031

4.15%,

12/14/2035

4.30%,

12/14/2045

4.70%,

02/12/2036

Western

Union

Co/The

6.20%,

11/17/2036

(d) 200

$

13,190

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

-

.15

%

AEP

Texas

Inc

2.10%,

07/01/2030

$

$

3.45%,

01/15/2050

3.45%,

05/15/2051

4.70%,

05/15/2032

5.25%,

05/15/2052

AEP

Transmission

Co

LLC

4.00%,

12/01/2046

4.50%,

06/15/2052

5.40%,

03/15/2053

AES

Corp/The

2.45%,

01/15/2031

Alabama

Power

Co

1.45%,

09/15/2030

3.13%,

07/15/2051

4.30%,

03/15/2031

Ameren

Corp

1.75%,

03/15/2028

5.00%,

01/15/2029

5.00%,

05/15/2036

Ameren

Illinois

Co

3.25%,

03/15/2050

3.85%,

09/01/2032

5.63%,

03/01/2055

American

Electric

Power

Co

Inc

2.30%,

03/01/2030

5.63%,

03/01/2033

6.05%,

03/15/2056

(f) 100

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.94%

Appalachian

Power

Co

3.30%,

06/01/2027

7.00%,

04/01/2038

Arizona

Public

Service

Co

2.60%,

08/15/2029

2.65%,

09/15/2050

4.50%,

04/01/2042

5.90%,

08/15/2055

Baltimore

Gas

and

Electric

Co

2.25%,

06/15/2031

4.55%,

06/01/2052

5.45%,

06/01/2035

5.65%,

06/01/2054

Berkshire

Hathaway

Energy

Co

1.65%,

05/15/2031

3.80%,

07/15/2048

4.60%,

05/01/2053

5.15%,

11/15/2043

6.13%,

04/01/2036

CenterPoint

Energy

Houston

Electric

LLC

3.35%,

04/01/2051

4.25%,

02/01/2049

4.85%,

10/01/2052

4.95%,

04/01/2033

4.95%,

08/15/2035

5.20%,

10/01/2028

CenterPoint

Energy

Inc

2.95%,

03/01/2030

CMS

Energy

Corp

3.75%,

12/01/2050

(f) 180

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

Commonwealth

Edison

Co

3.00%,

03/01/2050

5.30%,

06/01/2034

5.30%,

02/01/2053

5.65%,

06/01/2054

5.95%,

06/01/2055

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Connecticut

Light

and

Power

Co/The

2.05%,

07/01/2031

$

$

4.00%,

04/01/2048

4.95%,

01/15/2030

Consolidated

Edison

Co

of

New

York

Inc

3.00%,

12/01/2060

3.70%,

11/15/2059

3.88%,

06/15/2047

4.20%,

03/15/2042

4.30%,

12/01/2056

5.20%,

03/01/2033

5.75%,

11/15/2055

5.85%,

03/15/2036

6.15%,

11/15/2052

6.75%,

04/01/2038

Constellation

Energy

Generation

LLC

3.90%,

01/08/2028

Consumers

Energy

Co

4.20%,

09/01/2052

4.60%,

05/30/2029

4.90%,

02/15/2029

5.05%,

05/15/2035

Dayton

Power

&

Light

Co/The

4.55%,

08/15/2030

Dominion

Energy

Inc

3.30%,

04/15/2041

3.38%,

04/01/2030

4.60%,

05/15/2028

4.70%,

12/01/2044

4.90%,

08/01/2041

5.38%,

11/15/2032

5.45%,

03/15/2035

5.95%,

06/15/2035

DTE

Electric

Co

1.90%,

04/01/2028

2.25%,

03/01/2030

2.63%,

03/01/2031

3.95%,

03/01/2049

5.20%,

03/01/2034

5.25%,

05/15/2035

5.40%,

04/01/2053

DTE

Energy

Co

4.88%,

06/01/2028

5.05%,

10/01/2035

5.20%,

04/01/2030

Duke

Energy

Carolinas

LLC

4.00%,

09/30/2042

4.95%,

01/15/2033

5.25%,

03/15/2035

5.30%,

02/15/2040

5.35%,

01/15/2053

5.40%,

01/15/2054

Duke

Energy

Corp

3.15%,

08/15/2027

3.30%,

06/15/2041

3.50%,

06/15/2051

3.75%,

09/01/2046

4.50%,

08/15/2032

4.85%,

01/05/2029

5.00%,

08/15/2052

5.45%,

06/15/2034

5.70%,

09/15/2055

5.80%,

06/15/2054

6.10%,

09/15/2053

Duke

Energy

Florida

LLC

1.75%,

06/15/2030

2.50%,

12/01/2029

3.40%,

10/01/2046

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Duke

Energy

Florida

LLC

(continued)

4.20%,

12/01/2030

$

$

5.65%,

04/01/2040

5.88%,

11/15/2033

5.95%,

11/15/2052

6.40%,

06/15/2038

Duke

Energy

Indiana

LLC

2.75%,

04/01/2050

4.95%,

03/15/2036

5.40%,

04/01/2053

5.90%,

05/15/2055

6.12%,

10/15/2035

Duke

Energy

Progress

LLC

2.50%,

08/15/2050

5.55%,

03/15/2055

Emera

US

Finance

LP

4.75%,

06/15/2046

Entergy

Arkansas

LLC

4.95%,

01/15/2036

5.15%,

01/15/2033

Entergy

Corp

1.90%,

06/15/2028

2.40%,

06/15/2031

Entergy

Louisiana

LLC

4.75%,

09/15/2052

5.15%,

09/15/2034

5.65%,

04/15/2056

5.80%,

03/15/2055

Entergy

Mississippi

LLC

5.05%,

04/15/2036

Entergy

Texas

Inc

1.75%,

03/15/2031

4.00%,

03/30/2029

4.50%,

03/30/2039

Evergy

Kansas

Central

Inc

5.25%,

03/15/2035

5.70%,

03/15/2053

Evergy

Metro

Inc

5.13%,

08/15/2035

Eversource

Energy

1.65%,

08/15/2030

4.45%,

12/15/2030

5.13%,

05/15/2033

Exelon

Corp

3.35%,

03/15/2032

4.45%,

04/15/2046

4.95%,

03/15/2036

5.13%,

03/15/2031

5.15%,

03/15/2029

5.63%,

06/15/2035

6.50%,

03/15/2055

(f) 55

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

FirstEnergy

Transmission

LLC

4.75%,

01/15/2033

Florida

Power

&

Light

Co

3.70%,

12/01/2047

4.05%,

10/01/2044

4.40%,

05/15/2028

4.70%,

02/15/2036

4.80%,

05/15/2033

5.10%,

04/01/2033

5.30%,

06/15/2034

5.60%,

06/15/2054

5.69%,

03/01/2040

5.70%,

03/15/2055

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Georgia

Power

Co

4.30%,

03/15/2042

$

$

4.55%,

03/15/2030

4.65%,

05/16/2028

4.70%,

05/15/2032

5.50%,

10/01/2055

Iberdrola

International

BV

6.75%,

07/15/2036

Interstate

Power

and

Light

Co

2.30%,

06/01/2030

4.10%,

09/26/2028

5.60%,

06/29/2035

5.60%,

10/01/2055

Jersey

Central

Power

&

Light

Co

4.40%,

01/15/2031

(e) 105

Kentucky

Utilities

Co

3.30%,

06/01/2050

5.85%,

08/15/2055

MidAmerican

Energy

Co

3.15%,

04/15/2050

3.65%,

04/15/2029

4.25%,

07/15/2049

5.30%,

02/01/2055

Mississippi

Power

Co

4.25%,

03/15/2042

National

Rural

Utilities

Cooperative

Finance

Corp

2.40%,

03/15/2030

4.05%,

02/09/2029

4.12%,

09/16/2027

4.15%,

08/25/2028

4.15%,

12/15/2032

4.80%,

03/15/2028

5.00%,

02/07/2031

5.15%,

06/15/2029

Nevada

Power

Co

2.40%,

05/01/2030

NextEra

Energy

Capital

Holdings

Inc

1.90%,

06/15/2028

2.25%,

06/01/2030

2.75%,

11/01/2029

4.40%,

03/01/2031

4.69%,

09/01/2027

4.90%,

02/28/2028

4.90%,

03/15/2029

5.00%,

07/15/2032

5.05%,

03/15/2030

5.25%,

03/15/2034

5.25%,

02/28/2053

5.45%,

03/15/2035

5.65%,

05/01/2079

(f) 250

Month

USD

LIBOR

+

3.16%

6.50%,

08/15/2055

(f) 125

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

Northern

States

Power

Co/MN

2.90%,

03/01/2050

3.40%,

08/15/2042

5.10%,

05/15/2053

5.35%,

11/01/2039

5.65%,

05/15/2055

NSTAR

Electric

Co

4.55%,

06/01/2052

4.95%,

09/15/2052

5.20%,

03/01/2035

5.40%,

06/01/2034

Ohio

Power

Co

1.63%,

01/15/2031

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Oncor

Electric

Delivery

Co

LLC

4.15%,

06/01/2032

$

$

4.30%,

05/15/2028

4.55%,

09/15/2032

4.60%,

06/01/2052

4.65%,

11/01/2029

5.25%,

09/30/2040

5.55%,

06/15/2054

Pacific

Gas

and

Electric

Co

2.10%,

08/01/2027

2.50%,

02/01/2031

3.30%,

08/01/2040

3.50%,

08/01/2050

4.20%,

06/01/2041

5.05%,

10/15/2032

5.20%,

05/01/2036

5.70%,

03/01/2035

5.80%,

05/15/2034

5.90%,

06/15/2032

5.90%,

10/01/2054

6.10%,

01/15/2029

6.75%,

01/15/2053

PacifiCorp

2.90%,

06/15/2052

5.30%,

02/15/2031

5.35%,

12/01/2053

5.50%,

05/15/2054

6.25%,

10/15/2037

PECO

Energy

Co

2.80%,

06/15/2050

4.38%,

08/15/2052

4.60%,

05/15/2052

4.88%,

09/15/2035

4.90%,

06/15/2033

(d) 75

PPL

Electric

Utilities

Corp

3.00%,

10/01/2049

3.95%,

06/01/2047

4.85%,

02/15/2034

5.00%,

05/15/2033

Progress

Energy

Inc

7.75%,

03/01/2031

Public

Service

Co

of

Colorado

1.88%,

06/15/2031

4.50%,

06/01/2052

5.15%,

09/15/2035

5.25%,

04/01/2053

5.35%,

05/15/2034

5.85%,

05/15/2055

Public

Service

Co

of

New

Hampshire

4.40%,

07/01/2028

Public

Service

Co

of

Oklahoma

5.20%,

01/15/2035

5.25%,

01/15/2033

Public

Service

Electric

and

Gas

Co

3.00%,

05/15/2027

3.15%,

01/01/2050

4.20%,

01/01/2031

4.85%,

08/01/2034

4.90%,

08/15/2035

5.30%,

08/01/2054

5.45%,

08/01/2053

Public

Service

Enterprise

Group

Inc

4.90%,

03/15/2030

5.88%,

10/15/2028

6.13%,

10/15/2033

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Puget

Sound

Energy

Inc

3.25%,

09/15/2049

$

$

5.60%,

09/15/2055

5.80%,

03/15/2040

San

Diego

Gas

&

Electric

Co

1.70%,

10/01/2030

3.32%,

04/15/2050

3.70%,

03/15/2052

Sempra

4.00%,

02/01/2048

6.00%,

10/15/2039

6.55%,

04/01/2055

(f) 170

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

Southern

California

Edison

Co

2.25%,

06/01/2030

2.85%,

08/01/2029

(d) 125

3.45%,

02/01/2052

3.65%,

02/01/2050

4.00%,

04/01/2047

4.70%,

06/01/2027

5.30%,

03/01/2028

5.45%,

06/01/2031

5.45%,

03/01/2035

5.50%,

03/15/2040

5.65%,

10/01/2028

5.70%,

03/01/2053

5.85%,

11/01/2027

5.90%,

03/01/2055

5.95%,

02/01/2038

Southern

Co/The

1.75%,

03/15/2028

5.20%,

06/15/2033

5.50%,

03/15/2029

5.70%,

10/15/2032

Southern

Power

Co

4.90%,

10/01/2035

Southwestern

Electric

Power

Co

4.10%,

09/15/2028

6.20%,

03/15/2040

Southwestern

Public

Service

Co

6.00%,

06/01/2054

Tampa

Electric

Co

3.45%,

03/15/2051

4.35%,

05/15/2044

Tucson

Electric

Power

Co

1.50%,

08/01/2030

Union

Electric

Co

2.15%,

03/15/2032

5.55%,

03/15/2056

Virginia

Electric

and

Power

Co

2.30%,

11/15/2031

2.95%,

11/15/2051

3.75%,

05/15/2027

4.20%,

05/15/2045

5.05%,

08/15/2034

5.45%,

04/01/2053

5.55%,

08/15/2054

5.60%,

09/15/2055

5.70%,

03/15/2056

6.00%,

05/15/2037

8.88%,

11/15/2038

WEC

Energy

Group

Inc

1.38%,

10/15/2027

2.20%,

12/15/2028

Wisconsin

Electric

Power

Co

4.15%,

10/15/2030

4.75%,

09/30/2032

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Wisconsin

Public

Service

Corp

4.55%,

12/01/2029

$

$

Xcel

Energy

Inc

2.60%,

12/01/2029

4.60%,

06/01/2032

4.75%,

03/21/2028

$

36,368

Electrical

Components

&

Equipment

-

.02

%

Emerson

Electric

Co

2.20%,

12/21/2031

Electronics

-

.08

%

Amphenol

Corp

3.90%,

11/15/2028

4.13%,

11/15/2030

5.00%,

01/15/2035

5.05%,

04/05/2027

5.30%,

11/15/2055

Honeywell

International

Inc

1.75%,

09/01/2031

1.95%,

06/01/2030

2.70%,

08/15/2029

Tyco

Electronics

Group

SA

4.88%,

02/09/2036

7.13%,

10/01/2037

$

1,290

Environmental

Control

-

.09

%

Republic

Services

Inc

2.30%,

03/01/2030

5.00%,

11/15/2029

5.00%,

04/01/2034

5.15%,

03/15/2035

Waste

Connections

Inc

4.20%,

01/15/2033

Waste

Management

Inc

2.00%,

06/01/2029

4.15%,

04/15/2032

4.63%,

02/15/2033

4.65%,

03/15/2030

4.88%,

02/15/2029

4.95%,

07/03/2031

4.95%,

03/15/2035

5.35%,

10/15/2054

$

1,553

Finance

-

Mortgage

Loan/Banker

-

.26

%

Fannie

Mae

0.75%,

10/08/2027

0.88%,

08/05/2030

5.63%,

07/15/2037

6.63%,

11/15/2030

7.13%,

01/15/2030

7.25%,

05/15/2030

Federal

Home

Loan

Banks

3.25%,

11/16/2028

500

3.50%,

09/09/2027

3.50%,

10/04/2027

3.50%,

03/03/2028

3.88%,

06/04/2027

4.00%,

06/30/2028

4.75%,

04/09/2027

5.50%,

07/15/2036

Freddie

Mac

6.25%,

07/15/2032

6.75%,

03/15/2031

577

648

$

4,336

Food

-

.34

%

Campbell's

Company/The

4.15%,

03/15/2028

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Food

(continued)

Conagra

Brands

Inc

4.85%,

11/01/2028

$

$

5.30%,

11/01/2038

5.40%,

11/01/2048

General

Mills

Inc

2.25%,

10/14/2031

4.88%,

01/30/2030

4.95%,

03/29/2033

5.50%,

10/17/2028

Hershey

Co/The

3.38%,

08/15/2046

J

M

Smucker

Co/The

5.90%,

11/15/2028

6.50%,

11/15/2043

JBS

NV/JBS

USA

Foods

Group

Holdings

Inc/JBS

USA

Food

Co

Holdings

5.50%,

01/15/2036

5.63%,

03/10/2037

(e),(i)

5.75%,

04/01/2033

6.25%,

03/01/2056

6.38%,

02/25/2055

6.38%,

04/15/2066

6.50%,

12/01/2052

6.75%,

03/15/2034

Kellanova

2.10%,

06/01/2030

Koninklijke

Ahold

Delhaize

NV

5.70%,

10/01/2040

Kroger

Co/The

1.70%,

01/15/2031

3.70%,

08/01/2027

4.45%,

02/01/2047

5.00%,

09/15/2034

5.15%,

08/01/2043

5.40%,

07/15/2040

5.50%,

09/15/2054

5.65%,

09/15/2064

McCormick

&

Co

Inc/MD

1.85%,

02/15/2031

Mondelez

International

Inc

1.50%,

02/04/2031

(d) 105

2.63%,

09/04/2050

4.25%,

05/06/2028

4.50%,

05/06/2030

4.75%,

08/28/2034

Sysco

Corp

2.40%,

02/15/2030

2.45%,

12/14/2031

4.50%,

04/01/2046

4.85%,

10/01/2045

5.38%,

09/21/2035

5.40%,

03/23/2035

5.75%,

01/17/2029

Tyson

Foods

Inc

4.55%,

06/02/2047

4.95%,

02/20/2036

$

5,743

Forest

Products

&

Paper

-

.04

%

Georgia-Pacific

LLC

7.75%,

11/15/2029

International

Paper

Co

4.80%,

06/15/2044

Suzano

Austria

GmbH

2.50%,

09/15/2028

5.00%,

01/15/2030

Suzano

Netherlands

BV

5.50%,

01/15/2036

$

701

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Gas

-

.15

%

Atmos

Energy

Corp

1.50%,

01/15/2031

$

$

3.38%,

09/15/2049

4.13%,

10/15/2044

5.45%,

01/15/2056

5.75%,

10/15/2052

5.90%,

11/15/2033

6.20%,

11/15/2053

CenterPoint

Energy

Resources

Corp

1.75%,

10/01/2030

4.40%,

07/01/2032

5.25%,

03/01/2028

NiSource

Inc

3.60%,

05/01/2030

5.00%,

06/15/2052

5.25%,

03/30/2028

5.35%,

07/15/2035

5.40%,

06/30/2033

5.85%,

04/01/2055

Southern

California

Gas

Co

2.55%,

02/01/2030

5.05%,

09/01/2034

5.45%,

06/15/2035

5.75%,

06/01/2053

Southern

Co

Gas

Capital

Corp

1.75%,

01/15/2031

3.15%,

09/30/2051

5.10%,

09/15/2035

$

2,478

Hand

&

Machine

Tools

-

.03

%

Stanley

Black

&

Decker

Inc

2.30%,

03/15/2030

2.75%,

11/15/2050

$

Healthcare

-

Products

-

.36

%

Abbott

Laboratories

3.70%,

03/09/2029

4.00%,

03/15/2031

4.30%,

03/15/2033

4.65%,

03/15/2036

4.75%,

11/30/2036

4.75%,

03/15/2038

4.90%,

11/30/2046

5.30%,

05/27/2040

5.50%,

03/15/2056

5.60%,

03/15/2066

Agilent

Technologies

Inc

2.10%,

06/04/2030

2.30%,

03/12/2031

Baxter

International

Inc

1.73%,

04/01/2031

2.27%,

12/01/2028

Boston

Scientific

Corp

2.65%,

06/01/2030

4.70%,

03/01/2049

7.38%,

01/15/2040

Danaher

Corp

2.60%,

10/01/2050

DH

Europe

Finance

II

Sarl

2.60%,

11/15/2029

3.25%,

11/15/2039

GE

HealthCare

Technologies

Inc

5.50%,

06/15/2035

5.65%,

11/15/2027

5.86%,

03/15/2030

5.91%,

11/22/2032

6.38%,

11/22/2052

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Products

(continued)

Koninklijke

Philips

NV

5.00%,

03/15/2042

$

$

Medtronic

Global

Holdings

SCA

4.25%,

03/30/2028

(d) 155

Medtronic

Inc

4.38%,

03/15/2035

Revvity

Inc

1.90%,

09/15/2028

Stryker

Corp

4.10%,

04/01/2043

4.63%,

03/15/2046

4.70%,

02/10/2028

4.85%,

12/08/2028

5.20%,

02/10/2035

Thermo

Fisher

Scientific

Inc

2.00%,

10/15/2031

2.60%,

10/01/2029

2.80%,

10/15/2041

4.20%,

03/01/2031

4.55%,

06/15/2033

4.79%,

10/07/2035

4.80%,

11/21/2027

5.09%,

08/10/2033

5.40%,

08/10/2043

5.55%,

02/12/2046

$

6,094

Healthcare

-

Services

-

.78

%

Aetna

Inc

6.63%,

06/15/2036

6.75%,

12/15/2037

Baylor

Scott

&

White

Holdings

3.97%,

11/15/2046

Centene

Corp

4.63%,

12/15/2029

500

Cigna

Group/The

2.40%,

03/15/2030

3.20%,

03/15/2040

3.40%,

03/15/2051

4.38%,

10/15/2028

4.80%,

08/15/2038

4.80%,

07/15/2046

4.88%,

09/15/2032

4.90%,

12/15/2048

5.13%,

05/15/2031

5.25%,

01/15/2036

5.60%,

02/15/2054

6.00%,

01/15/2056

6.13%,

11/15/2041

CommonSpirit

Health

4.35%,

11/01/2042

Elevance

Health

Inc

2.88%,

09/15/2029

3.13%,

05/15/2050

3.60%,

03/15/2051

3.65%,

12/01/2027

4.38%,

12/01/2047

4.60%,

09/15/2032

4.63%,

05/15/2042

4.65%,

01/15/2043

4.75%,

02/15/2030

4.75%,

02/15/2033

5.20%,

02/15/2035

5.38%,

06/15/2034

5.65%,

06/15/2054

5.70%,

02/15/2055

6.10%,

10/15/2052

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

HCA

Inc

2.38%,

07/15/2031

$

$

3.38%,

03/15/2029

3.50%,

07/15/2051

4.38%,

03/15/2042

5.00%,

03/01/2028

5.20%,

06/01/2028

5.45%,

04/01/2031

5.45%,

09/15/2034

5.50%,

03/01/2032

5.50%,

06/01/2033

5.60%,

04/01/2034

5.75%,

03/01/2035

5.95%,

09/15/2054

6.00%,

04/01/2054

Humana

Inc

2.15%,

02/03/2032

3.13%,

08/15/2029

4.95%,

10/01/2044

5.50%,

03/15/2053

5.55%,

05/01/2035

Kaiser

Foundation

Hospitals

3.27%,

11/01/2049

(d) 230

4.15%,

05/01/2047

Laboratory

Corp

of

America

Holdings

2.95%,

12/01/2029

4.70%,

02/01/2045

Mass

General

Brigham

Inc

3.19%,

07/01/2049

Quest

Diagnostics

Inc

2.95%,

06/30/2030

4.60%,

12/15/2027

5.00%,

12/15/2034

UnitedHealth

Group

Inc

2.75%,

05/15/2040

2.90%,

05/15/2050

3.50%,

08/15/2039

3.70%,

05/15/2027

3.70%,

08/15/2049

4.25%,

01/15/2029

4.25%,

06/15/2048

4.40%,

06/15/2028

4.45%,

12/15/2048

4.60%,

04/15/2027

4.63%,

07/15/2035

4.70%,

04/15/2029

4.75%,

07/15/2045

4.75%,

05/15/2052

4.80%,

01/15/2030

4.95%,

01/15/2032

5.00%,

04/15/2034

5.15%,

07/15/2034

5.20%,

04/15/2063

5.25%,

02/15/2028

5.30%,

06/15/2035

(d) 55

5.35%,

02/15/2033

5.50%,

07/15/2044

5.50%,

04/15/2064

5.63%,

07/15/2054

5.88%,

02/15/2053

5.95%,

06/15/2055

6.50%,

06/15/2037

$

13,267

Home

Builders

-

.01

%

DR

Horton

Inc

1.40%,

10/15/2027

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

-

.67

%

Allstate

Corp/The

1.45%,

12/15/2030

$

$

5.25%,

03/30/2033

American

International

Group

Inc

5.13%,

03/27/2033

5.45%,

05/07/2035

Aon

Corp

2.80%,

05/15/2030

Aon

Corp

/

Aon

Global

Holdings

PLC

2.60%,

12/02/2031

2.85%,

05/28/2027

2.90%,

08/23/2051

5.00%,

09/12/2032

5.35%,

02/28/2033

Aon

North

America

Inc

5.15%,

03/01/2029

5.45%,

03/01/2034

5.75%,

03/01/2054

Arch

Capital

Finance

LLC

5.03%,

12/15/2046

Arch

Capital

Group

US

Inc

5.14%,

11/01/2043

Arthur

J

Gallagher

&

Co

4.60%,

12/15/2027

4.85%,

12/15/2029

5.15%,

02/15/2035

5.55%,

02/15/2055

Athene

Holding

Ltd

4.13%,

01/12/2028

500

6.25%,

04/01/2054

6.63%,

05/19/2055

Berkshire

Hathaway

Finance

Corp

2.50%,

01/15/2051

2.85%,

10/15/2050

4.20%,

08/15/2048

4.25%,

01/15/2049

Berkshire

Hathaway

Inc

4.50%,

02/11/2043

(d) 25

Brown

&

Brown

Inc

4.90%,

06/23/2030

5.25%,

06/23/2032

5.55%,

06/23/2035

6.25%,

06/23/2055

Chubb

INA

Holdings

LLC

4.35%,

11/03/2045

4.65%,

08/15/2029

5.00%,

03/15/2034

6.50%,

05/15/2038

6.70%,

05/15/2036

Corebridge

Financial

Inc

3.85%,

04/05/2029

3.90%,

04/05/2032

6.05%,

09/15/2033

Equitable

Holdings

Inc

4.35%,

04/20/2028

Hartford

Insurance

Group

Inc/The

2.90%,

09/15/2051

3.60%,

08/19/2049

4.30%,

04/15/2043

Lincoln

National

Corp

7.00%,

06/15/2040

Loews

Corp

4.13%,

05/15/2043

Manulife

Financial

Corp

5.38%,

03/04/2046

(d) 250

Markel

Group

Inc

3.45%,

05/07/2052

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

Marsh

&

McLennan

Cos

Inc

4.38%,

03/15/2029

$

$

4.55%,

11/08/2027

4.85%,

11/15/2031

4.90%,

03/15/2049

5.00%,

03/15/2035

5.40%,

09/15/2033

5.40%,

03/15/2055

5.70%,

09/15/2053

6.25%,

11/01/2052

MetLife

Inc

4.05%,

03/01/2045

4.60%,

05/13/2046

4.88%,

11/13/2043

5.25%,

01/15/2054

5.30%,

12/15/2034

5.70%,

06/15/2035

(d) 164

5.85%,

03/15/2056

(f) 90

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.82%

6.40%,

12/15/2066

Progressive

Corp/The

3.20%,

03/26/2030

3.70%,

03/15/2052

4.35%,

04/25/2044

Prudential

Financial

Inc

3.70%,

10/01/2050

(f) 165

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.04%

3.70%,

03/13/2051

3.91%,

12/07/2047

5.20%,

03/14/2035

(d) 125

5.70%,

12/14/2036

5.70%,

09/15/2048

(f) 200

Month

USD

LIBOR

+

2.67%

Travelers

Cos

Inc/The

3.05%,

06/08/2051

4.00%,

05/30/2047

5.05%,

07/24/2035

5.45%,

05/25/2053

6.25%,

06/15/2037

6.75%,

06/20/2036

W

R

Berkley

Corp

4.00%,

05/12/2050

Willis

North

America

Inc

2.95%,

09/15/2029

3.88%,

09/15/2049

5.35%,

05/15/2033

XL

Group

Ltd

5.25%,

12/15/2043

$

11,291

Internet

-

.69

%

Alibaba

Group

Holding

Ltd

2.13%,

02/09/2031

4.20%,

12/06/2047

4.40%,

12/06/2057

Alphabet

Inc

0.80%,

08/15/2027

3.70%,

02/15/2029

3.88%,

11/15/2028

4.00%,

05/15/2030

4.10%,

11/15/2030

4.38%,

11/15/2032

4.40%,

02/15/2033

4.70%,

11/15/2035

4.80%,

02/15/2036

5.25%,

05/15/2055

5.30%,

05/15/2065

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Internet

(continued)

Alphabet

Inc

(continued)

5.35%,

11/15/2045

$

$

5.45%,

11/15/2055

5.50%,

02/15/2046

5.65%,

02/15/2056

5.75%,

02/15/2066

Amazon.com

Inc

2.10%,

05/12/2031

3.10%,

05/12/2051

3.15%,

08/22/2027

3.25%,

05/12/2061

3.60%,

04/13/2032

3.88%,

08/22/2037

3.90%,

11/20/2028

3.95%,

04/13/2052

4.00%,

03/13/2029

4.05%,

08/22/2047

4.25%,

03/13/2031

4.35%,

03/20/2033

4.55%,

03/13/2033

4.65%,

12/01/2029

4.65%,

11/20/2035

4.70%,

12/01/2032

4.80%,

12/05/2034

4.88%,

03/13/2036

4.95%,

12/05/2044

5.45%,

11/20/2055

5.55%,

11/20/2065

5.80%,

03/13/2056

5.95%,

03/13/2066

Baidu

Inc

2.38%,

10/09/2030

eBay

Inc

2.60%,

05/10/2031

4.00%,

07/15/2042

5.95%,

11/22/2027

Expedia

Group

Inc

2.95%,

03/15/2031

Meta

Platforms

Inc

3.85%,

08/15/2032

4.20%,

11/15/2030

4.45%,

08/15/2052

4.60%,

11/15/2032

4.75%,

08/15/2034

4.88%,

11/15/2035

4.95%,

05/15/2033

5.40%,

08/15/2054

5.50%,

11/15/2045

5.55%,

08/15/2064

5.60%,

05/15/2053

5.63%,

11/15/2055

5.75%,

11/15/2065

Netflix

Inc

4.90%,

08/15/2034

5.88%,

11/15/2028

Uber

Technologies

Inc

4.15%,

01/15/2031

4.80%,

09/15/2035

$

11,716

Investment

Companies

-

.02

%

Ares

Capital

Corp

5.10%,

01/15/2031

5.50%,

09/01/2030

Blackstone

Private

Credit

Fund

5.05%,

09/10/2030

$

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Iron

&

Steel

-

.08

%

ArcelorMittal

SA

6.00%,

06/17/2034

(d) $

$

Nucor

Corp

3.13%,

04/01/2032

4.30%,

05/23/2027

Steel

Dynamics

Inc

5.38%,

08/15/2034

5.75%,

05/15/2055

Vale

Overseas

Ltd

6.13%,

06/12/2033

6.40%,

06/28/2054

$

1,368

Lodging

-

.07

%

Hyatt

Hotels

Corp

5.25%,

06/30/2029

Marriott

International

Inc/MD

2.85%,

04/15/2031

4.50%,

05/01/2033

5.00%,

10/15/2027

5.10%,

05/01/2038

5.25%,

10/15/2035

5.35%,

03/15/2035

5.55%,

10/15/2028

$

1,247

Machinery

-

Construction

&

Mining

-

.07

%

Caterpillar

Financial

Services

Corp

1.10%,

09/14/2027

(d) 170

3.70%,

01/10/2028

3.95%,

11/14/2028

4.70%,

11/15/2029

5.00%,

05/14/2027

Caterpillar

Inc

2.60%,

04/09/2030

3.25%,

09/19/2049

3.80%,

08/15/2042

5.50%,

05/15/2055

(d) 215

$

1,273

Machinery

-

Diversified

-

.15

%

Deere

&

Co

3.90%,

06/09/2042

5.45%,

01/16/2035

Dover

Corp

5.38%,

03/01/2041

Ingersoll

Rand

Inc

5.20%,

06/15/2027

5.31%,

06/15/2031

John

Deere

Capital

Corp

2.80%,

07/18/2029

4.15%,

09/15/2027

4.35%,

09/15/2032

4.55%,

06/05/2030

4.85%,

06/11/2029

4.90%,

06/11/2027

4.90%,

03/07/2031

4.95%,

07/14/2028

5.10%,

04/11/2034

Otis

Worldwide

Corp

2.57%,

02/15/2030

3.36%,

02/15/2050

5.13%,

09/04/2035

Rockwell

Automation

Inc

1.75%,

08/15/2031

2.80%,

08/15/2061

$

2,548

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

-

.47

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

2.25%,

01/15/2029

$

$

2.30%,

02/01/2032

(d) 145

2.80%,

04/01/2031

3.70%,

04/01/2051

3.85%,

04/01/2061

3.90%,

06/01/2052

4.40%,

12/01/2061

4.80%,

03/01/2050

5.75%,

04/01/2048

6.48%,

10/23/2045

6.55%,

06/01/2034

6.70%,

12/01/2055

Comcast

Corp

1.50%,

02/15/2031

(d) 165

2.45%,

08/15/2052

2.65%,

02/01/2030

2.65%,

08/15/2062

2.89%,

11/01/2051

3.25%,

11/01/2039

3.40%,

07/15/2046

3.45%,

02/01/2050

3.55%,

05/01/2028

3.75%,

04/01/2040

3.90%,

03/01/2038

4.00%,

08/15/2047

4.00%,

03/01/2048

4.00%,

11/01/2049

4.15%,

10/15/2028

4.55%,

01/15/2029

4.80%,

05/15/2033

4.95%,

05/15/2032

5.30%,

06/01/2034

5.35%,

05/15/2053

5.50%,

11/15/2032

(d) 120

5.65%,

06/15/2035

5.65%,

06/01/2054

6.05%,

05/15/2055

(d) 105

7.05%,

03/15/2033

Fox

Corp

5.48%,

01/25/2039

5.58%,

01/25/2049

6.50%,

10/13/2033

NBCUniversal

Media

LLC

4.45%,

01/15/2043

Time

Warner

Cable

Enterprises

LLC

8.38%,

07/15/2033

Time

Warner

Cable

LLC

5.50%,

09/01/2041

5.88%,

11/15/2040

6.55%,

05/01/2037

6.75%,

06/15/2039

7.30%,

07/01/2038

TWDC

Enterprises

Corp

3.70%,

12/01/2042

7.00%,

03/01/2032

Walt

Disney

Co/The

2.65%,

01/13/2031

2.75%,

09/01/2049

3.50%,

05/13/2040

3.60%,

01/13/2051

4.00%,

03/14/2031

4.63%,

03/14/2036

4.63%,

03/23/2040

4.75%,

11/15/2046

4.95%,

10/15/2045

6.20%,

12/15/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

(continued)

Walt

Disney

Co/The

(continued)

6.40%,

12/15/2035

$

$

$

7,954

Metal

Fabrication

&

Hardware

-

.01

%

Precision

Castparts

Corp

4.38%,

06/15/2045

Mining

-

.16

%

Barrick

North

America

Finance

LLC

5.75%,

05/01/2043

Barrick

PD

Australia

Finance

Pty

Ltd

5.95%,

10/15/2039

BHP

Billiton

Finance

USA

Ltd

4.13%,

02/24/2042

5.00%,

02/21/2030

5.00%,

02/15/2036

5.00%,

09/30/2043

5.25%,

09/08/2030

5.50%,

09/08/2053

Newmont

Corp

2.60%,

07/15/2032

Rio

Tinto

Alcan

Inc

6.13%,

12/15/2033

Rio

Tinto

Finance

USA

PLC

4.75%,

03/22/2042

4.88%,

03/14/2030

5.00%,

03/09/2033

5.25%,

03/14/2035

5.75%,

03/14/2055

Southern

Copper

Corp

5.88%,

04/23/2045

6.75%,

04/16/2040

$

2,678

Miscellaneous

Manufacturers

-

.13

%

3M

Co

2.38%,

08/26/2029

500

5.15%,

03/15/2035

Eaton

Corp

3.10%,

09/15/2027

4.00%,

11/02/2032

(d) 100

4.15%,

03/15/2033

4.15%,

11/02/2042

5.45%,

03/06/2056

Parker-Hannifin

Corp

4.25%,

09/15/2027

4.50%,

09/15/2029

Teledyne

Technologies

Inc

2.25%,

04/01/2028

$

2,143

Oil

&

Gas

-

.79

%

BP

Capital

Markets

America

Inc

1.75%,

08/10/2030

2.72%,

01/12/2032

2.77%,

11/10/2050

3.00%,

02/24/2050

3.00%,

03/17/2052

3.54%,

04/06/2027

3.59%,

04/14/2027

4.70%,

04/10/2029

4.81%,

02/13/2033

4.89%,

09/11/2033

4.97%,

10/17/2029

4.99%,

04/10/2034

5.02%,

11/17/2027

5.23%,

11/17/2034

BP

Capital

Markets

PLC

3.72%,

11/28/2028

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Canadian

Natural

Resources

Ltd

3.85%,

06/01/2027

$

$

4.95%,

06/01/2047

5.00%,

12/15/2029

6.25%,

03/15/2038

Chevron

Corp

2.00%,

05/11/2027

Chevron

USA

Inc

1.02%,

08/12/2027

4.05%,

08/13/2028

4.30%,

10/15/2030

4.69%,

04/15/2030

4.82%,

04/15/2032

4.85%,

10/15/2035

(d) 100

ConocoPhillips

Co

3.80%,

03/15/2052

4.03%,

03/15/2062

4.30%,

11/15/2044

4.70%,

01/15/2030

5.00%,

01/15/2035

5.05%,

09/15/2033

5.50%,

01/15/2055

5.55%,

03/15/2054

Devon

Energy

Corp

5.00%,

06/15/2045

5.20%,

09/15/2034

5.60%,

07/15/2041

5.75%,

09/15/2054

Diamondback

Energy

Inc

5.15%,

01/30/2030

5.20%,

04/18/2027

5.40%,

04/18/2034

5.75%,

04/18/2054

EOG

Resources

Inc

4.40%,

07/15/2028

4.40%,

01/15/2031

5.35%,

01/15/2036

5.65%,

12/01/2054

(d) 135

5.95%,

07/15/2055

Equinor

ASA

3.00%,

04/06/2027

3.25%,

11/18/2049

3.63%,

04/06/2040

4.25%,

06/02/2028

Exxon

Mobil

Corp

2.44%,

08/16/2029

2.61%,

10/15/2030

3.00%,

08/16/2039

3.10%,

08/16/2049

3.45%,

04/15/2051

4.23%,

03/19/2040

Hess

Corp

5.60%,

02/15/2041

7.13%,

03/15/2033

7.30%,

08/15/2031

Marathon

Petroleum

Corp

5.00%,

09/15/2054

Occidental

Petroleum

Corp

5.38%,

01/01/2032

6.05%,

10/01/2054

6.45%,

09/15/2036

6.63%,

09/01/2030

Phillips

2.15%,

12/15/2030

5.88%,

05/01/2042

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Phillips

Co

4.95%,

12/01/2027

$

$

5.25%,

06/15/2031

5.50%,

03/15/2055

Pioneer

Natural

Resources

Co

1.90%,

08/15/2030

2.15%,

01/15/2031

Shell

Finance

US

Inc

2.38%,

11/07/2029

2.75%,

04/06/2030

3.13%,

11/07/2049

(e) 155

3.25%,

04/06/2050

4.00%,

05/10/2046

4.13%,

11/06/2030

4.38%,

05/11/2045

4.55%,

08/12/2043

4.75%,

01/06/2036

5.50%,

03/25/2040

(e) 25

6.38%,

12/15/2038

(e) 43

Shell

International

Finance

BV

3.63%,

08/21/2042

Suncor

Energy

Inc

3.75%,

03/04/2051

4.00%,

11/15/2047

6.80%,

05/15/2038

6.85%,

06/01/2039

TotalEnergies

Capital

International

SA

2.83%,

01/10/2030

3.13%,

05/29/2050

3.39%,

06/29/2060

3.46%,

07/12/2049

TotalEnergies

Capital

SA

5.15%,

04/05/2034

5.28%,

09/10/2054

5.43%,

09/10/2064

5.49%,

04/05/2054

TotalEnergies

Capital

USA

LLC

4.25%,

01/13/2031

4.86%,

01/13/2036

Valero

Energy

Corp

2.80%,

12/01/2031

4.00%,

06/01/2052

(d) 195

6.63%,

06/15/2037

7.50%,

04/15/2032

Woodside

Finance

Ltd

5.40%,

05/19/2030

6.00%,

05/19/2035

$

13,318

Oil

&

Gas

Services

-

.07

%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co-

Obligor

Inc

3.14%,

11/07/2029

3.34%,

12/15/2027

4.08%,

12/15/2047

4.65%,

06/15/2033

Halliburton

Co

4.50%,

11/15/2041

4.85%,

11/15/2035

7.45%,

09/15/2039

NOV

Inc

3.60%,

12/01/2029

3.95%,

12/01/2042

$

1,164

Packaging

&

Containers

-

.04

%

Amcor

Flexibles

North

America

Inc

5.13%,

03/12/2036

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Packaging

&

Containers

(continued)

Packaging

Corp

of

America

3.00%,

12/15/2029

$

$

3.05%,

10/01/2051

Smurfit

Westrock

Financing

DAC

5.42%,

01/15/2035

$

753

Pharmaceuticals

-

.36

%

AbbVie

Inc

3.20%,

11/21/2029

3.78%,

03/03/2028

4.05%,

11/21/2039

4.25%,

11/21/2049

4.30%,

05/14/2036

4.40%,

03/15/2033

4.40%,

11/06/2042

4.45%,

05/14/2046

4.50%,

05/14/2035

4.63%,

10/01/2042

4.75%,

03/15/2045

4.80%,

03/15/2029

4.88%,

11/14/2048

4.95%,

03/15/2031

5.05%,

03/15/2034

5.20%,

03/15/2035

5.40%,

03/15/2054

5.60%,

03/15/2055

5.65%,

03/15/2066

Astrazeneca

Finance

LLC

1.75%,

05/28/2028

4.85%,

02/26/2029

4.88%,

03/03/2028

4.88%,

03/03/2033

AstraZeneca

PLC

4.00%,

09/18/2042

4.38%,

11/16/2045

4.38%,

08/17/2048

6.45%,

09/15/2037

Becton

Dickinson

&

Co

1.96%,

02/11/2031

2.82%,

05/20/2030

3.70%,

06/06/2027

Bristol-Myers

Squibb

Co

2.95%,

03/15/2032

3.25%,

08/01/2042

3.55%,

03/15/2042

3.70%,

03/15/2052

4.13%,

06/15/2039

4.25%,

10/26/2049

4.35%,

11/15/2047

5.20%,

02/22/2034

5.50%,

02/22/2044

5.55%,

02/22/2054

5.75%,

02/01/2031

(d) 150

Cardinal

Health

Inc

3.41%,

06/15/2027

4.50%,

09/15/2030

4.60%,

03/15/2043

Cencora

Inc

4.25%,

11/15/2030

4.90%,

02/13/2036

CVS

Health

Corp

1.30%,

08/21/2027

1.75%,

08/21/2030

1.88%,

02/28/2031

3.25%,

08/15/2029

4.30%,

03/25/2028

4.78%,

03/25/2038

5.00%,

01/30/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

CVS

Health

Corp

(continued)

5.00%,

09/15/2032

$

$

5.05%,

03/25/2048

880

755

5.13%,

07/20/2045

5.25%,

02/21/2033

5.30%,

06/01/2033

5.30%,

12/05/2043

5.55%,

06/01/2031

5.63%,

02/21/2053

5.70%,

06/01/2034

5.88%,

06/01/2053

6.25%,

09/15/2065

Eli

Lilly

&

Co

3.95%,

03/15/2049

4.00%,

10/15/2028

4.55%,

02/12/2028

4.55%,

10/15/2032

4.60%,

08/14/2034

4.70%,

02/09/2034

4.75%,

02/12/2030

4.88%,

02/27/2053

5.00%,

02/09/2054

5.05%,

08/14/2054

5.60%,

02/12/2065

5.65%,

10/15/2065

GlaxoSmithKline

Capital

Inc

4.50%,

04/15/2030

4.88%,

04/15/2035

5.38%,

04/15/2034

500

519

Johnson

&

Johnson

3.63%,

03/03/2037

3.70%,

03/01/2046

4.55%,

03/01/2028

4.80%,

06/01/2029

4.95%,

06/01/2034

McKesson

Corp

4.65%,

05/30/2030

Mead

Johnson

Nutrition

Co

4.60%,

06/01/2044

Merck

&

Co

Inc

1.70%,

06/10/2027

2.15%,

12/10/2031

2.35%,

06/24/2040

3.60%,

09/15/2042

3.70%,

02/10/2045

3.85%,

09/15/2027

3.85%,

03/15/2029

(d) 190

3.90%,

03/07/2039

4.00%,

03/07/2049

4.15%,

09/15/2030

4.15%,

05/18/2043

4.45%,

12/04/2032

4.50%,

05/17/2033

4.75%,

12/04/2035

4.95%,

09/15/2035

5.00%,

05/17/2053

5.55%,

12/04/2055

5.70%,

12/04/2065

Novartis

Capital

Corp

3.80%,

09/18/2029

4.10%,

03/16/2029

4.10%,

11/05/2030

4.20%,

09/18/2034

(d) 110

4.30%,

11/05/2032

4.40%,

03/18/2031

4.40%,

05/06/2044

4.60%,

03/18/2033

4.60%,

11/05/2035

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Novartis

Capital

Corp

(continued)

4.70%,

09/18/2054

$

$

5.20%,

11/05/2045

5.70%,

03/18/2056

Pfizer

Inc

1.70%,

05/28/2030

2.55%,

05/28/2040

2.63%,

04/01/2030

2.70%,

05/28/2050

4.00%,

03/15/2049

4.40%,

05/15/2044

4.50%,

11/15/2032

5.60%,

11/15/2055

5.70%,

11/15/2065

7.20%,

03/15/2039

Pfizer

Investment

Enterprises

Pte

Ltd

4.45%,

05/19/2028

4.65%,

05/19/2030

4.75%,

05/19/2033

5.11%,

05/19/2043

5.30%,

05/19/2053

5.34%,

05/19/2063

Takeda

Pharmaceutical

Co

Ltd

2.05%,

03/31/2030

3.18%,

07/09/2050

5.30%,

07/05/2034

Takeda

US

Financing

Inc

5.90%,

07/07/2055

Utah

Acquisition

Sub

Inc

5.25%,

06/15/2046

Viatris

Inc

2.30%,

06/22/2027

2.70%,

06/22/2030

3.85%,

06/22/2040

4.00%,

06/22/2050

Wyeth

LLC

5.95%,

04/01/2037

6.50%,

02/01/2034

Zoetis

Inc

2.00%,

05/15/2030

3.00%,

05/15/2050

3.95%,

09/12/2047

4.15%,

08/17/2028

$

22,999

Pipelines

-

.90

%

Cheniere

Corpus

Christi

Holdings

LLC

3.70%,

11/15/2029

Cheniere

Energy

Partners

LP

5.55%,

10/30/2035

5.75%,

08/15/2034

Eastern

Gas

Transmission

&

Storage

Inc

4.80%,

11/01/2043

Enbridge

Energy

Partners

LP

7.38%,

10/15/2045

Enbridge

Inc

2.50%,

08/01/2033

3.13%,

11/15/2029

3.40%,

08/01/2051

4.60%,

06/20/2028

5.30%,

04/05/2029

5.55%,

06/20/2035

5.70%,

03/08/2033

5.95%,

04/05/2054

6.70%,

11/15/2053

Energy

Transfer

LP

3.75%,

05/15/2030

4.95%,

01/15/2043

5.00%,

05/15/2044

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

Energy

Transfer

LP

(continued)

5.25%,

04/15/2029

$

$

5.30%,

04/15/2047

5.35%,

05/15/2045

5.55%,

05/15/2034

5.70%,

04/01/2035

5.75%,

02/15/2033

6.05%,

09/01/2054

6.10%,

12/01/2028

6.13%,

12/15/2045

6.25%,

04/15/2049

6.30%,

01/15/2056

6.40%,

12/01/2030

6.50%,

02/01/2042

Enterprise

Products

Operating

LLC

3.30%,

02/15/2053

3.70%,

01/31/2051

4.25%,

02/15/2048

4.30%,

06/20/2028

4.60%,

01/15/2031

4.85%,

01/31/2034

4.85%,

08/15/2042

4.85%,

03/15/2044

4.90%,

05/15/2046

4.95%,

02/15/2035

5.20%,

01/15/2036

5.55%,

02/16/2055

6.45%,

09/01/2040

6.88%,

03/01/2033

Kinder

Morgan

Energy

Partners

LP

4.70%,

11/01/2042

5.00%,

03/01/2043

6.38%,

03/01/2041

6.50%,

09/01/2039

6.95%,

01/15/2038

7.40%,

03/15/2031

Kinder

Morgan

Inc

2.00%,

02/15/2031

3.25%,

08/01/2050

3.60%,

02/15/2051

5.00%,

02/01/2029

5.05%,

02/15/2046

5.20%,

06/01/2033

5.40%,

02/01/2034

5.55%,

06/01/2045

5.85%,

06/01/2035

5.95%,

08/01/2054

MPLX

LP

4.25%,

12/01/2027

4.50%,

04/15/2038

4.70%,

04/15/2048

4.80%,

02/15/2031

4.90%,

04/15/2058

5.00%,

01/15/2033

5.20%,

03/01/2047

5.20%,

12/01/2047

5.50%,

06/01/2034

5.50%,

02/15/2049

5.95%,

04/01/2055

6.20%,

09/15/2055

ONEOK

Inc

3.40%,

09/01/2029

4.25%,

09/24/2027

4.45%,

09/01/2049

4.75%,

10/15/2031

5.40%,

10/15/2035

5.70%,

11/01/2054

5.85%,

11/01/2064

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

ONEOK

Inc

(continued)

6.05%,

09/01/2033

$

$

6.25%,

10/15/2055

6.63%,

09/01/2053

Plains

All

American

Pipeline

LP

5.95%,

06/15/2035

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.30%,

01/31/2043

5.60%,

01/15/2036

Targa

Resources

Corp

4.90%,

09/15/2030

5.20%,

07/01/2027

5.40%,

07/30/2036

5.65%,

02/15/2036

6.13%,

03/15/2033

6.13%,

05/15/2055

6.15%,

03/01/2029

6.50%,

03/30/2034

Texas

Eastern

Transmission

LP

7.00%,

07/15/2032

TransCanada

PipeLines

Ltd

4.25%,

05/15/2028

5.60%,

03/31/2034

6.10%,

06/01/2040

7.25%,

08/15/2038

Western

Midstream

Operating

LP

4.80%,

03/01/2031

5.45%,

11/15/2034

6.15%,

04/01/2033

Williams

Cos

Inc/The

2.60%,

03/15/2031

3.50%,

10/15/2051

3.75%,

06/15/2027

4.90%,

03/15/2029

5.10%,

09/15/2045

5.15%,

03/15/2036

5.30%,

08/15/2028

5.30%,

08/15/2052

5.65%,

03/15/2033

6.00%,

03/15/2055

6.30%,

04/15/2040

$

15,270

Private

Equity

-

.05

%

Brookfield

Finance

Inc

2.72%,

04/15/2031

3.50%,

03/30/2051

3.90%,

01/25/2028

5.33%,

01/15/2036

5.68%,

01/15/2035

Brookfield

Finance

LLC

/

Brookfield

Finance

Inc

3.45%,

04/15/2050

$

834

Regional

Authority

-

.28

%

Province

of

Alberta

Canada

1.30%,

07/22/2030

3.30%,

03/15/2028

4.30%,

11/02/2035

4.50%,

06/26/2029

Province

of

British

Columbia

Canada

1.30%,

01/29/2031

3.90%,

08/27/2030

4.20%,

07/06/2033

4.70%,

01/24/2028

4.75%,

06/12/2034

4.80%,

11/15/2028

4.80%,

06/11/2035

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Regional

Authority

(continued)

Province

of

Manitoba

Canada

1.50%,

10/25/2028

$

$

4.30%,

07/27/2033

Province

of

Ontario

Canada

1.13%,

10/07/2030

2.13%,

01/21/2032

3.10%,

05/19/2027

3.70%,

09/17/2029

3.80%,

01/29/2029

3.90%,

09/04/2030

4.20%,

01/18/2029

4.45%,

11/20/2035

4.70%,

01/15/2030

4.85%,

06/11/2035

Province

of

Quebec

Canada

1.35%,

05/28/2030

3.63%,

04/13/2028

3.88%,

01/14/2031

(d) 190

4.25%,

09/05/2034

4.50%,

04/03/2029

4.50%,

09/08/2033

4.63%,

08/28/2035

7.50%,

09/15/2029

$

4,693

REITs

-

.82

%

Alexandria

Real

Estate

Equities

Inc

2.75%,

12/15/2029

2.95%,

03/15/2034

3.38%,

08/15/2031

4.90%,

12/15/2030

5.15%,

04/15/2053

5.25%,

03/15/2036

American

Homes

Rent

LP

4.95%,

06/15/2030

American

Tower

Corp

1.88%,

10/15/2030

2.90%,

01/15/2030

3.70%,

10/15/2049

4.70%,

12/15/2032

5.25%,

07/15/2028

5.35%,

03/15/2035

5.65%,

03/15/2033

5.90%,

11/15/2033

AvalonBay

Communities

Inc

1.90%,

12/01/2028

2.30%,

03/01/2030

4.35%,

12/01/2030

5.00%,

02/15/2033

5.00%,

08/01/2035

5.35%,

06/01/2034

Boston

Properties

LP

2.55%,

04/01/2032

2.90%,

03/15/2030

COPT

Defense

Properties

LP

2.75%,

04/15/2031

Crown

Castle

Inc

2.50%,

07/15/2031

3.10%,

11/15/2029

3.25%,

01/15/2051

3.30%,

07/01/2030

4.00%,

11/15/2049

4.90%,

09/01/2029

5.00%,

01/11/2028

5.10%,

05/01/2033

CubeSmart

LP

2.00%,

02/15/2031

2.25%,

12/15/2028

5.13%,

11/01/2035

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Digital

Realty

Trust

LP

5.55%,

01/15/2028

$

$

Equinix

Europe

Financing

Corp

LLC

4.70%,

03/15/2033

Equinix

Inc

1.80%,

07/15/2027

2.50%,

05/15/2031

3.20%,

11/18/2029

3.40%,

02/15/2052

ERP

Operating

LP

2.50%,

02/15/2030

4.65%,

09/15/2034

Essex

Portfolio

LP

1.70%,

03/01/2028

3.00%,

01/15/2030

4.00%,

03/01/2029

5.50%,

04/01/2034

Extra

Space

Storage

LP

2.20%,

10/15/2030

2.40%,

10/15/2031

4.95%,

01/15/2033

5.40%,

02/01/2034

5.40%,

06/15/2035

5.50%,

07/01/2030

GLP

Capital

LP

/

GLP

Financing

II

Inc

4.00%,

01/15/2030

5.25%,

02/15/2033

Healthcare

Realty

Holdings

LP

2.00%,

03/15/2031

Healthpeak

OP

LLC

2.13%,

12/01/2028

3.00%,

01/15/2030

5.25%,

12/15/2032

6.75%,

02/01/2041

Kilroy

Realty

LP

2.50%,

11/15/2032

Kimco

Realty

OP

LLC

2.25%,

12/01/2031

2.70%,

10/01/2030

3.70%,

10/01/2049

4.60%,

02/01/2033

5.30%,

02/01/2036

6.40%,

03/01/2034

Mid-America

Apartments

LP

1.70%,

02/15/2031

5.30%,

02/15/2032

NNN

REIT

Inc

4.60%,

02/15/2031

4.80%,

10/15/2048

Prologis

LP

1.75%,

07/01/2030

2.13%,

04/15/2027

2.88%,

11/15/2029

3.00%,

04/15/2050

4.00%,

09/15/2028

4.88%,

06/15/2028

5.25%,

05/15/2035

5.25%,

03/15/2054

Public

Storage

Operating

Co

1.85%,

05/01/2028

5.00%,

07/01/2035

(d) 105

5.10%,

08/01/2033

5.13%,

01/15/2029

(d) 150

Realty

Income

Corp

2.10%,

03/15/2028

2.20%,

06/15/2028

3.10%,

12/15/2029

3.25%,

01/15/2031

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Realty

Income

Corp

(continued)

4.75%,

02/15/2029

$

$

4.85%,

03/15/2030

4.90%,

07/15/2033

5.38%,

09/01/2054

Simon

Property

Group

LP

1.75%,

02/01/2028

2.45%,

09/13/2029

2.65%,

02/01/2032

3.25%,

09/13/2049

4.25%,

11/30/2046

4.30%,

01/15/2031

4.38%,

10/01/2030

4.75%,

09/26/2034

6.75%,

02/01/2040

Store

Capital

LLC

4.95%,

02/11/2031

(e) 85

UDR

Inc

3.20%,

01/15/2030

Ventas

Realty

LP

3.00%,

01/15/2030

5.00%,

02/15/2036

5.10%,

07/15/2032

5.63%,

07/01/2034

VICI

Properties

LP

4.75%,

04/01/2028

5.13%,

11/15/2031

Welltower

OP

LLC

2.75%,

01/15/2032

4.13%,

03/15/2029

4.50%,

07/01/2030

5.13%,

07/01/2035

Weyerhaeuser

Co

7.38%,

03/15/2032

WP

Carey

Inc

4.65%,

07/15/2030

$

13,975

Retail

-

.58

%

AutoZone

Inc

1.65%,

01/15/2031

3.75%,

06/01/2027

5.10%,

07/15/2029

Costco

Wholesale

Corp

1.38%,

06/20/2027

Dollar

Tree

Inc

4.20%,

05/15/2028

Home

Depot

Inc/The

1.88%,

09/15/2031

2.95%,

06/15/2029

3.50%,

09/15/2056

3.90%,

06/15/2047

3.95%,

09/15/2030

(d) 105

4.20%,

04/01/2043

4.25%,

04/01/2046

4.40%,

03/15/2045

4.85%,

06/25/2031

4.88%,

06/25/2027

4.95%,

06/25/2034

4.95%,

09/15/2052

5.30%,

06/25/2054

Lowe's

Cos

Inc

1.30%,

04/15/2028

1.70%,

10/15/2030

3.00%,

10/15/2050

3.10%,

05/03/2027

3.65%,

04/05/2029

3.70%,

04/15/2046

3.75%,

04/01/2032

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

Lowe's

Cos

Inc

(continued)

4.00%,

10/15/2028

$

$

4.05%,

05/03/2047

4.25%,

04/01/2052

4.38%,

09/15/2045

4.85%,

10/15/2035

5.00%,

04/15/2033

5.00%,

04/15/2040

5.63%,

04/15/2053

5.75%,

07/01/2053

McDonald's

Corp

2.13%,

03/01/2030

2.63%,

09/01/2029

3.50%,

07/01/2027

3.63%,

09/01/2049

3.70%,

02/15/2042

4.60%,

05/15/2030

4.70%,

12/09/2035

4.88%,

07/15/2040

4.88%,

12/09/2045

4.95%,

08/14/2033

5.00%,

02/13/2036

5.15%,

09/09/2052

6.30%,

10/15/2037

O'Reilly

Automotive

Inc

1.75%,

03/15/2031

4.35%,

06/01/2028

Starbucks

Corp

3.00%,

02/14/2032

4.45%,

08/15/2049

4.80%,

05/15/2030

Target

Corp

2.35%,

02/15/2030

2.95%,

01/15/2052

4.50%,

09/15/2032

(d) 120

4.50%,

09/15/2034

(d) 135

4.80%,

01/15/2053

Walmart

Inc

1.50%,

09/22/2028

2.50%,

09/22/2041

2.95%,

09/24/2049

3.90%,

04/15/2028

3.95%,

06/28/2038

4.10%,

04/28/2027

4.10%,

04/15/2033

4.50%,

09/09/2052

4.90%,

04/28/2035

$

9,823

Semiconductors

-

.71

%

Analog

Devices

Inc

2.10%,

10/01/2031

4.25%,

06/15/2028

4.50%,

06/15/2030

5.30%,

04/01/2054

Applied

Materials

Inc

1.75%,

06/01/2030

4.35%,

04/01/2047

4.60%,

01/15/2036

4.80%,

06/15/2029

5.10%,

10/01/2035

(d) 250

Broadcom

Inc

1.95%,

02/15/2028

3.14%,

11/15/2035

(e) 640

544

3.19%,

11/15/2036

(e) 14

3.42%,

04/15/2033

3.47%,

04/15/2034

3.50%,

02/15/2041

3.75%,

02/15/2051

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Semiconductors

(continued)

Broadcom

Inc

(continued)

4.15%,

11/15/2030

$

$

4.20%,

10/15/2030

4.30%,

11/15/2032

4.35%,

02/15/2030

4.55%,

02/15/2032

4.60%,

07/15/2030

4.75%,

04/15/2029

4.80%,

02/15/2036

5.15%,

11/15/2031

5.20%,

04/15/2032

5.20%,

07/15/2035

5.70%,

01/15/2056

Intel

Corp

2.00%,

08/12/2031

2.45%,

11/15/2029

3.05%,

08/12/2051

3.15%,

05/11/2027

3.20%,

08/12/2061

3.25%,

11/15/2049

3.73%,

12/08/2047

3.75%,

08/05/2027

4.00%,

08/05/2029

4.15%,

08/05/2032

4.25%,

12/15/2042

4.60%,

03/25/2040

4.80%,

10/01/2041

5.20%,

02/10/2033

5.60%,

02/21/2054

5.63%,

02/10/2043

5.70%,

02/10/2053

KLA

Corp

4.70%,

02/01/2034

4.95%,

07/15/2052

Lam

Research

Corp

1.90%,

06/15/2030

2.88%,

06/15/2050

Marvell

Technology

Inc

2.45%,

04/15/2028

4.75%,

07/15/2030

4.88%,

06/22/2028

5.45%,

07/15/2035

Micron

Technology

Inc

2.70%,

04/15/2032

5.30%,

01/15/2031

5.80%,

01/15/2035

6.05%,

11/01/2035

NVIDIA

Corp

1.55%,

06/15/2028

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.50%,

05/11/2031

3.15%,

05/01/2027

4.30%,

08/19/2028

4.40%,

06/01/2027

QUALCOMM

Inc

1.30%,

05/20/2028

3.25%,

05/20/2027

4.50%,

05/20/2030

4.65%,

05/20/2035

4.80%,

05/20/2045

6.00%,

05/20/2053

Texas

Instruments

Inc

1.75%,

05/04/2030

4.15%,

05/15/2048

4.50%,

05/23/2030

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Semiconductors

(continued)

Texas

Instruments

Inc

(continued)

4.60%,

02/15/2028

$

$

5.00%,

03/14/2053

5.15%,

02/08/2054

$

11,977

Software

-

.76

%

Fidelity

National

Information

Services

Inc

1.65%,

03/01/2028

4.45%,

03/10/2028

4.55%,

03/10/2029

4.80%,

03/10/2031

5.10%,

07/15/2032

Fiserv

Inc

3.50%,

07/01/2029

4.75%,

03/15/2030

5.15%,

08/12/2034

5.25%,

08/11/2035

5.35%,

03/15/2031

5.45%,

03/02/2028

5.63%,

08/21/2033

Intuit

Inc

5.13%,

09/15/2028

5.50%,

09/15/2053

Microsoft

Corp

2.53%,

06/01/2050

2.68%,

06/01/2060

3.45%,

08/08/2036

Oracle

Corp

2.30%,

03/25/2028

2.88%,

03/25/2031

2.95%,

04/01/2030

3.60%,

04/01/2040

3.60%,

04/01/2050

3.65%,

03/25/2041

3.80%,

11/15/2037

3.90%,

05/15/2035

600

508

3.95%,

03/25/2051

4.00%,

07/15/2046

4.10%,

03/25/2061

4.20%,

09/27/2029

4.30%,

07/08/2034

4.38%,

05/15/2055

4.45%,

09/26/2030

4.50%,

05/06/2028

4.55%,

02/04/2029

4.65%,

05/06/2030

4.70%,

09/27/2034

4.80%,

09/26/2032

4.95%,

02/04/2031

5.20%,

09/26/2035

5.25%,

02/03/2032

5.35%,

05/04/2033

5.38%,

09/27/2054

5.50%,

09/27/2064

5.55%,

02/06/2053

5.70%,

02/04/2036

5.88%,

09/26/2045

5.95%,

09/26/2055

6.00%,

08/03/2055

6.13%,

08/03/2065

6.15%,

11/09/2029

6.25%,

11/09/2032

6.55%,

02/04/2046

6.85%,

02/04/2066

6.90%,

11/09/2052

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Roper

Technologies

Inc

2.95%,

09/15/2029

$

$

4.25%,

09/15/2028

4.75%,

02/15/2032

4.90%,

10/15/2034

5.10%,

09/15/2035

Salesforce

Inc

2.70%,

07/15/2041

2.90%,

07/15/2051

4.50%,

03/15/2028

4.90%,

09/15/2031

5.20%,

03/15/2033

5.55%,

03/15/2036

6.40%,

03/15/2046

6.55%,

03/15/2056

Synopsys

Inc

4.65%,

04/01/2028

4.85%,

04/01/2030

5.15%,

04/01/2035

5.70%,

04/01/2055

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

VMware

LLC

1.80%,

08/15/2028

2.20%,

08/15/2031

$

12,826

Sovereign

-

.37

%

Canada

Government

International

Bond

3.75%,

04/26/2028

4.00%,

03/18/2030

4.63%,

04/30/2029

(d) 305

Chile

Government

International

Bond

2.45%,

01/31/2031

2.55%,

01/27/2032

3.10%,

05/07/2041

3.24%,

02/06/2028

3.86%,

06/21/2047

4.95%,

01/05/2036

Export

Development

Canada

3.75%,

09/07/2027

3.88%,

02/14/2028

(d) 205

4.00%,

06/20/2030

4.13%,

02/13/2029

4.75%,

06/05/2034

Export-Import

Bank

of

Korea

3.75%,

09/22/2030

4.00%,

09/11/2029

4.25%,

09/15/2027

4.50%,

09/15/2032

5.13%,

09/18/2028

Indonesia

Government

International

Bond

2.15%,

07/28/2031

2.85%,

02/14/2030

3.05%,

03/12/2051

3.50%,

01/11/2028

4.20%,

10/15/2050

4.35%,

02/21/2031

4.55%,

01/11/2028

4.75%,

02/11/2029

4.75%,

09/10/2034

4.90%,

04/16/2036

5.10%,

02/10/2054

(d) 200

5.15%,

09/10/2054

(d) 200

Israel

Government

AID

Bond

5.50%,

09/18/2033

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Israel

Government

International

Bond

3.88%,

07/03/2050

$

$

5.00%,

01/13/2036

5.38%,

02/19/2030

5.50%,

03/12/2034

5.75%,

03/12/2054

5.88%,

01/13/2056

Japan

Bank

for

International

Cooperation

1.25%,

01/21/2031

1.88%,

04/15/2031

2.13%,

02/16/2029

4.63%,

07/22/2027

4.63%,

07/19/2028

4.88%,

10/18/2028

Japan

International

Cooperation

Agency

4.75%,

05/21/2029

Korea

International

Bond

1.00%,

09/16/2030

3.88%,

09/20/2048

Mexico

Government

International

Bond

2.66%,

05/24/2031

3.25%,

04/16/2030

3.50%,

02/12/2034

3.75%,

01/11/2028

3.77%,

05/24/2061

4.50%,

04/22/2029

4.50%,

01/31/2050

4.60%,

02/10/2048

4.75%,

03/08/2044

5.38%,

03/22/2033

5.55%,

01/21/2045

5.63%,

02/09/2034

5.85%,

07/02/2032

6.00%,

05/07/2036

6.05%,

01/11/2040

6.13%,

02/09/2038

6.34%,

05/04/2053

6.35%,

02/09/2035

6.40%,

05/07/2054

6.88%,

05/13/2037

7.38%,

05/13/2055

Panama

Government

International

Bond

2.25%,

09/29/2032

3.30%,

01/19/2033

3.87%,

07/23/2060

4.30%,

04/29/2053

4.50%,

04/16/2050

5.66%,

02/23/2038

6.70%,

01/26/2036

6.85%,

03/28/2054

(d) 200

Peruvian

Government

International

Bond

1.86%,

12/01/2032

2.78%,

01/23/2031

2.78%,

12/01/2060

3.30%,

03/11/2041

3.55%,

03/10/2051

5.50%,

03/30/2036

5.63%,

11/18/2050

5.88%,

08/08/2054

6.55%,

03/14/2037

8.75%,

11/21/2033

Philippine

Government

International

Bond

2.46%,

05/05/2030

2.65%,

12/10/2045

3.70%,

02/02/2042

4.25%,

07/27/2031

4.75%,

03/05/2035

5.00%,

07/17/2033

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Philippine

Government

International

Bond

(continued)

5.50%,

02/04/2035

$

$

5.50%,

01/17/2048

5.60%,

05/14/2049

9.50%,

02/02/2030

Republic

of

Italy

Government

International

Bond

2.88%,

10/17/2029

3.88%,

05/06/2051

5.38%,

06/15/2033

Republic

of

Poland

Government

International

Bond

4.88%,

02/12/2030

4.88%,

10/04/2033

5.13%,

09/18/2034

5.50%,

03/18/2054

State

of

Israel

2.50%,

01/15/2030

3.38%,

01/15/2050

Svensk

Exportkredit

AB

3.63%,

03/12/2029

3.75%,

09/13/2027

3.75%,

07/29/2030

4.13%,

06/14/2028

Tennessee

Valley

Authority

3.50%,

12/15/2042

3.88%,

03/15/2028

4.25%,

09/15/2065

4.63%,

09/15/2060

4.88%,

05/15/2035

5.25%,

09/15/2039

5.38%,

04/01/2056

5.88%,

04/01/2036

Uruguay

Government

International

Bond

4.13%,

11/20/2045

4.38%,

10/27/2027

4.98%,

04/20/2055

5.10%,

06/18/2050

5.44%,

02/14/2037

5.75%,

10/28/2034

$

23,238

Supranational

Bank

-

.23

%

African

Development

Bank

3.50%,

09/18/2029

3.63%,

03/03/2031

3.88%,

06/12/2028

4.00%,

03/18/2030

4.13%,

01/22/2036

4.38%,

03/14/2028

Asian

Development

Bank

1.25%,

06/09/2028

1.50%,

03/04/2031

1.75%,

09/19/2029

1.88%,

03/15/2029

2.75%,

01/19/2028

3.13%,

08/20/2027

3.13%,

04/27/2032

3.63%,

08/28/2029

3.75%,

04/25/2028

3.75%,

08/28/2030

3.88%,

09/28/2032

3.88%,

06/14/2033

4.00%,

01/12/2033

4.13%,

05/30/2030

4.25%,

01/14/2036

4.38%,

01/14/2028

4.38%,

03/06/2029

4.38%,

03/22/2035

4.50%,

08/25/2028

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Supranational

Bank

(continued)

Asian

Development

Bank

(continued)

5.82%,

06/16/2028

$

$

6.38%,

10/01/2028

Asian

Infrastructure

Investment

Bank/The

3.63%,

09/15/2028

3.75%,

09/14/2027

4.13%,

01/18/2029

4.13%,

01/14/2036

4.50%,

01/16/2030

4.50%,

05/21/2035

Council

Of

Europe

Development

Bank

3.63%,

01/26/2028

4.50%,

01/15/2030

4.63%,

06/11/2027

European

Bank

for

Reconstruction

&

Development

4.13%,

01/25/2029

4.38%,

03/09/2028

European

Investment

Bank

0.63%,

10/21/2027

1.25%,

02/14/2031

1.63%,

05/13/2031

1.75%,

03/15/2029

2.38%,

05/24/2027

3.25%,

11/15/2027

3.63%,

07/15/2030

3.75%,

11/15/2029

(d) 240

3.75%,

03/13/2031

3.75%,

02/14/2033

3.88%,

03/15/2028

3.88%,

06/15/2028

3.88%,

10/15/2030

4.00%,

02/15/2029

4.13%,

02/13/2034

4.25%,

08/16/2032

4.25%,

02/08/2036

4.38%,

10/10/2031

4.50%,

10/16/2028

4.50%,

03/14/2030

4.63%,

02/12/2035

4.75%,

06/15/2029

Inter-American

Development

Bank

0.63%,

09/16/2027

1.13%,

07/20/2028

1.13%,

01/13/2031

2.38%,

07/07/2027

3.13%,

09/18/2028

3.50%,

09/14/2029

3.50%,

04/12/2033

3.75%,

06/14/2030

4.00%,

01/12/2028

4.13%,

02/15/2029

4.13%,

01/23/2036

4.38%,

07/17/2034

4.38%,

07/16/2035

4.38%,

01/24/2044

4.50%,

02/15/2030

4.50%,

09/13/2033

International

Bank

for

Reconstruction

&

Development

0.75%,

11/24/2027

0.75%,

08/26/2030

1.25%,

02/10/2031

1.38%,

04/20/2028

1.63%,

11/03/2031

1.75%,

10/23/2029

2.50%,

03/29/2032

3.13%,

06/15/2027

3.50%,

07/12/2028

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Supranational

Bank

(continued)

International

Bank

for

Reconstruction

&

Development

(continued)

3.50%,

10/28/2030

$

$

3.63%,

05/05/2028

3.63%,

09/21/2029

3.88%,

10/16/2029

3.88%,

02/14/2030

3.88%,

08/28/2034

4.00%,

07/25/2030

4.00%,

01/10/2031

4.00%,

05/06/2032

4.13%,

03/20/2030

4.38%,

08/27/2035

4.50%,

04/10/2031

4.63%,

08/01/2028

4.63%,

01/15/2032

4.75%,

11/14/2033

International

Finance

Corp

3.50%,

01/22/2029

3.88%,

07/02/2030

4.25%,

07/02/2029

4.50%,

01/21/2028

4.50%,

07/13/2028

Nordic

Investment

Bank

3.38%,

09/08/2027

4.25%,

02/28/2029

$

20,881

Telecommunications

-

.02

%

America

Movil

SAB

de

CV

4.38%,

04/22/2049

6.13%,

03/30/2040

6.38%,

03/01/2035

AT&T

Inc

1.65%,

02/01/2028

2.30%,

06/01/2027

2.75%,

06/01/2031

3.10%,

02/01/2043

3.50%,

09/15/2053

629

3.55%,

09/15/2055

533

3.65%,

06/01/2051

3.65%,

09/15/2059

757

4.10%,

02/15/2028

4.30%,

12/15/2042

4.35%,

03/01/2029

4.35%,

06/15/2045

4.40%,

04/30/2031

4.50%,

03/09/2048

4.75%,

04/30/2033

4.90%,

11/01/2035

5.38%,

08/15/2035

5.40%,

02/15/2034

5.55%,

11/01/2045

5.85%,

04/30/2046

6.05%,

08/15/2056

Bell

Telephone

Co

of

Canada

or

Bell

Canada

5.20%,

02/15/2034

British

Telecommunications

PLC

9.62%,

12/15/2030

Cisco

Systems

Inc

4.95%,

02/24/2032

5.05%,

02/26/2034

5.30%,

02/26/2054

5.50%,

01/15/2040

Corning

Inc

4.38%,

11/15/2057

4.75%,

03/15/2042

Deutsche

Telekom

International

Finance

BV

8.75%,

06/15/2030

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

Juniper

Networks

Inc

2.00%,

12/10/2030

$

$

Motorola

Solutions

Inc

4.85%,

08/15/2030

5.20%,

08/15/2032

Orange

SA

5.38%,

01/13/2042

Rogers

Communications

Inc

3.80%,

03/15/2032

5.00%,

02/15/2029

Sprint

Capital

Corp

6.88%,

11/15/2028

Telefonica

Emisiones

SA

5.21%,

03/08/2047

7.05%,

06/20/2036

545

601

T-Mobile

USA

Inc

2.05%,

02/15/2028

2.25%,

11/15/2031

2.40%,

03/15/2029

2.55%,

02/15/2031

3.30%,

02/15/2051

3.40%,

10/15/2052

3.75%,

04/15/2027

3.88%,

04/15/2030

4.20%,

10/01/2029

4.38%,

04/15/2040

4.50%,

04/15/2050

4.80%,

07/15/2028

4.95%,

03/15/2028

4.95%,

11/15/2035

5.00%,

02/15/2036

5.05%,

07/15/2033

5.13%,

05/15/2032

5.15%,

04/15/2034

5.20%,

01/15/2033

5.25%,

06/15/2055

5.50%,

01/15/2055

5.65%,

01/15/2053

5.70%,

01/15/2056

5.75%,

01/15/2034

5.75%,

01/15/2054

6.00%,

06/15/2054

Verizon

Communications

Inc

1.50%,

09/18/2030

1.68%,

10/30/2030

1.75%,

01/20/2031

2.10%,

03/22/2028

2.55%,

03/21/2031

2.65%,

11/20/2040

2.88%,

11/20/2050

2.99%,

10/30/2056

3.00%,

11/20/2060

3.55%,

03/22/2051

3.70%,

03/22/2061

3.85%,

11/01/2042

4.33%,

09/21/2028

4.40%,

11/01/2034

4.50%,

08/10/2033

4.75%,

01/15/2033

4.81%,

03/15/2039

5.00%,

01/15/2036

5.25%,

04/02/2035

5.75%,

11/30/2045

5.88%,

11/30/2055

6.00%,

11/30/2065

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

Vodafone

Group

PLC

5.63%,

02/10/2053

$

$

5.75%,

06/28/2054

5.88%,

06/28/2064

6.15%,

02/27/2037

$

17,351

Transportation

-

.43

%

Burlington

Northern

Santa

Fe

LLC

3.30%,

09/15/2051

3.55%,

02/15/2050

4.45%,

03/15/2043

4.45%,

01/15/2053

4.55%,

09/01/2044

5.15%,

09/01/2043

5.20%,

04/15/2054

5.50%,

03/15/2055

5.80%,

03/15/2056

Canadian

National

Railway

Co

2.45%,

05/01/2050

3.65%,

02/03/2048

3.85%,

08/05/2032

4.38%,

09/18/2034

4.75%,

11/12/2035

Canadian

Pacific

Railway

Co

3.10%,

12/02/2051

4.80%,

03/30/2030

(d) 85

4.80%,

09/15/2035

5.50%,

03/15/2056

CSX

Corp

2.40%,

02/15/2030

3.25%,

06/01/2027

3.35%,

09/15/2049

3.80%,

03/01/2028

3.80%,

11/01/2046

4.30%,

03/01/2048

4.50%,

11/15/2052

4.75%,

05/30/2042

4.90%,

03/15/2055

5.05%,

06/15/2035

5.20%,

11/15/2033

FedEx

Corp

3.10%,

08/05/2029

3.88%,

08/01/2042

4.40%,

01/15/2047

4.55%,

04/01/2046

4.75%,

11/15/2045

Fedex

Freight

Holding

Co

Inc

4.65%,

03/15/2031

(e) 65

4.95%,

03/15/2033

(e) 95

Norfolk

Southern

Corp

2.30%,

05/15/2031

2.55%,

11/01/2029

3.94%,

11/01/2047

4.55%,

06/01/2053

4.84%,

10/01/2041

5.35%,

08/01/2054

Ryder

System

Inc

4.30%,

06/15/2027

4.95%,

09/01/2029

Union

Pacific

Corp

2.38%,

05/20/2031

2.80%,

02/14/2032

2.89%,

04/06/2036

(d) 210

3.38%,

02/14/2042

(d) 190

3.80%,

10/01/2051

3.80%,

04/06/2071

3.84%,

03/20/2060

4.50%,

01/20/2033

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Transportation

(continued)

Union

Pacific

Corp

(continued)

4.95%,

09/09/2052

$

$

5.60%,

12/01/2054

United

Parcel

Service

Inc

2.50%,

09/01/2029

3.40%,

09/01/2049

4.65%,

10/15/2030

(d) 105

4.88%,

11/15/2040

5.05%,

03/03/2053

5.15%,

05/22/2034

5.20%,

04/01/2040

5.50%,

05/22/2054

5.95%,

05/14/2055

6.20%,

01/15/2038

$

7,249

Trucking

&

Leasing

-

.02

%

GATX

Corp

1.90%,

06/01/2031

5.50%,

06/15/2035

$

Water

-

.06

%

American

Water

Capital

Corp

2.30%,

06/01/2031

3.25%,

06/01/2051

3.75%,

09/01/2047

4.45%,

06/01/2032

5.70%,

09/01/2055

6.59%,

10/15/2037

Essential

Utilities

Inc

2.40%,

05/01/2031

5.25%,

08/15/2035

5.30%,

05/01/2052

5.38%,

01/15/2034

$

1,034

TOTAL

BONDS

$

473,148

MUNICIPAL

BONDS

-

.55

%

Principal

Amount

(000's)

Value

(000's)

California

-

.17

%

Bay

Area

Toll

Authority

6.26%,

04/01/2049

$

$

California

State

University

2.98%,

11/01/2051

East

Bay

Municipal

Utility

District

Water

System

Revenue

5.87%,

06/01/2040

Los

Angeles

Department

of

Water

&

Power

6.57%,

07/01/2045

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

6.55%,

05/15/2048

San

Diego

County

Water

Authority

6.14%,

05/01/2049

State

of

California

3.50%,

04/01/2028

7.30%,

10/01/2039

7.35%,

11/01/2039

500

577

7.60%,

11/01/2040

7.63%,

03/01/2040

$

2,889

District

of

Columbia

-

.02

%

District

of

Columbia

Water

&

Sewer

Authority

4.81%,

10/01/2114

Georgia

-

.02

%

Municipal

Electric

Authority

of

Georgia

6.64%,

04/01/2057

7.06%,

04/01/2057

$

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Illinois

-

.08

%

Chicago

Transit

Authority

Sales

&

Transfer

Tax

Receipts

Revenue

6.90%,

12/01/2040

$

$

Chicago

Transit

Authority

Sales

Tax

Receipts

Fund

6.20%,

12/01/2040

County

of

Cook

IL

6.23%,

11/15/2034

State

of

Illinois

5.10%,

06/01/2033

873

889

7.35%,

07/01/2035

$

1,319

Nevada

-

.00

%

County

of

Clark

Department

of

Aviation

6.82%,

07/01/2045

New

Jersey

-

.06

%

New

Jersey

Economic

Development

Authority

(credit

support

from

National

Public

Finance

Guarantee

Corp)

7.43%,

02/15/2029

(j) 519

544

New

Jersey

Transportation

Trust

Fund

Authority

6.56%,

12/15/2040

New

Jersey

Turnpike

Authority

7.10%,

01/01/2041

Rutgers

The

State

University

of

New

Jersey

5.67%,

05/01/2040

$

1,079

New

York

-

.05

%

City

of

New

York

NY

5.52%,

10/01/2037

Metropolitan

Transportation

Authority

6.81%,

11/15/2040

New

York

City

Municipal

Water

Finance

Authority

5.72%,

06/15/2042

New

York

State

Dormitory

Authority

5.60%,

03/15/2040

Port

Authority

of

New

York

&

New

Jersey

4.46%,

10/01/2062

6.04%,

12/01/2029

$

781

Ohio

-

.00

%

American

Municipal

Power

Inc

6.27%,

02/15/2050

Pennsylvania

-

.03

%

State

Public

School

Building

Authority

5.00%,

09/15/2027

Texas

-

.11

%

City

of

San

Antonio

TX

Electric

&

Gas

Systems

Revenue

5.81%,

02/01/2041

Dallas

Area

Rapid

Transit

5.02%,

12/01/2048

Dallas

Convention

Center

Hotel

Development

Corp

7.09%,

01/01/2042

Dallas

County

Hospital

District

5.62%,

08/15/2044

Dallas

Independent

School

District

(credit

support

from

Permanent

School

Fund

Guarantee

Program)

6.45%,

02/15/2035

(j) 50

Grand

Parkway

Transportation

Corp

5.18%,

10/01/2042

State

of

Texas

4.68%,

04/01/2040

5.52%,

04/01/2039

Texas

Department

of

Transportation

State

Highway

Fund

5.18%,

04/01/2030

625

636

$

1,819

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Wisconsin

-

.01

%

State

of

Wisconsin

(credit

support

from

Assured

Guaranty)

5.70%,

05/01/2026

(j) $

$

TOTAL

MUNICIPAL

BONDS

$

9,292

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.58

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.10

%

2.00%,

03/01/2032

$

$

2.50%,

10/01/2027

2.50%,

03/01/2028

2.50%,

06/01/2028

2.50%,

06/01/2028

2.50%,

07/01/2028

2.50%,

10/01/2028

2.50%,

10/01/2028

2.50%,

10/01/2029

2.50%,

12/01/2029

2.50%,

09/01/2030

2.50%,

01/01/2031

2.50%,

01/01/2031

2.50%,

02/01/2031

2.50%,

03/01/2031

2.50%,

12/01/2031

2.50%,

12/01/2031

2.50%,

02/01/2032

2.50%,

03/01/2032

2.50%,

11/01/2032

2.50%,

02/01/2033

2.50%,

03/01/2033

2.50%,

03/01/2033

2.50%,

04/01/2033

2.50%,

05/01/2033

2.50%,

06/01/2033

2.50%,

11/01/2036

2.50%,

03/01/2043

3.00%,

01/01/2027

3.00%,

03/01/2027

3.00%,

05/01/2027

3.00%,

10/01/2028

3.00%,

07/01/2029

3.00%,

08/01/2029

3.00%,

10/01/2029

3.00%,

11/01/2029

3.00%,

07/01/2030

3.00%,

09/01/2030

3.00%,

11/01/2030

3.00%,

11/01/2030

3.00%,

01/01/2031

3.00%,

04/01/2031

3.00%,

02/01/2032

3.00%,

05/01/2032

3.00%,

12/01/2032

3.00%,

12/01/2032

3.00%,

01/01/2033

3.00%,

02/01/2033

3.00%,

03/01/2033

3.00%,

04/01/2033

3.00%,

04/01/2033

3.00%,

06/01/2033

3.00%,

09/01/2033

3.00%,

09/01/2033

3.00%,

12/01/2034

3.00%,

01/01/2035

3.00%,

02/01/2035

3.00%,

05/01/2035

3.00%,

02/01/2036

3.00%,

09/01/2036

3.00%,

02/01/2037

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.00%,

05/01/2037

$

$

3.00%,

06/01/2037

3.00%,

07/01/2037

3.00%,

09/01/2037

3.00%,

01/01/2043

3.00%,

01/01/2043

3.00%,

02/01/2043

3.00%,

03/01/2043

3.00%,

05/01/2043

3.00%,

07/01/2043

3.00%,

07/01/2043

3.00%,

08/01/2043

3.00%,

08/01/2043

3.00%,

09/01/2043

3.00%,

10/01/2043

3.00%,

03/01/2045

3.00%,

04/01/2045

3.00%,

06/01/2045

3.00%,

07/01/2045

3.00%,

08/01/2045

3.00%,

12/01/2045

3.00%,

03/01/2046

3.00%,

03/01/2046

3.00%,

04/01/2046

3.00%,

05/01/2046

3.00%,

09/01/2046

3.00%,

10/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

12/01/2046

3.00%,

12/01/2046

3.00%,

01/01/2047

3.00%,

03/01/2047

3.00%,

03/01/2048

3.50%,

12/01/2026

3.50%,

01/01/2029

3.50%,

01/01/2032

3.50%,

03/01/2032

3.50%,

04/01/2032

3.50%,

08/01/2032

3.50%,

09/01/2033

3.50%,

01/01/2034

3.50%,

01/01/2035

3.50%,

02/01/2035

3.50%,

07/01/2035

3.50%,

09/01/2035

3.50%,

04/01/2037

3.50%,

06/01/2037

3.50%,

02/01/2042

3.50%,

04/01/2042

3.50%,

06/01/2042

3.50%,

07/01/2042

3.50%,

07/01/2042

3.50%,

08/01/2042

3.50%,

08/01/2042

3.50%,

06/01/2044

3.50%,

09/01/2044

3.50%,

03/01/2045

3.50%,

06/01/2045

3.50%,

07/01/2045

3.50%,

09/01/2045

3.50%,

10/01/2045

3.50%,

12/01/2045

3.50%,

01/01/2046

3.50%,

03/01/2046

589

553

3.50%,

03/01/2046

3.50%,

04/01/2046

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.50%,

05/01/2046

$

$

3.50%,

06/01/2046

3.50%,

08/01/2046

3.50%,

04/01/2047

3.50%,

11/01/2047

3.50%,

11/01/2047

3.50%,

05/01/2048

4.00%,

12/01/2030

4.00%,

08/01/2031

4.00%,

10/01/2031

4.00%,

11/01/2031

4.00%,

12/01/2031

4.00%,

11/01/2033

4.00%,

01/01/2034

4.00%,

07/01/2035

4.00%,

03/01/2037

4.00%,

05/01/2038

4.00%,

02/01/2041

4.00%,

06/01/2042

4.00%,

06/01/2042

4.00%,

08/01/2043

4.00%,

01/01/2044

4.00%,

02/01/2044

4.00%,

03/01/2044

4.00%,

04/01/2044

4.00%,

05/01/2044

4.00%,

07/01/2044

4.00%,

10/01/2044

4.00%,

11/01/2044

4.00%,

12/01/2044

4.00%,

01/01/2045

4.00%,

02/01/2045

4.00%,

04/01/2045

4.00%,

06/01/2045

4.00%,

08/01/2045

4.00%,

09/01/2045

4.00%,

10/01/2045

4.00%,

11/01/2045

4.00%,

12/01/2045

4.00%,

03/01/2047

4.00%,

08/01/2047

4.00%,

10/01/2047

4.00%,

12/01/2047

4.00%,

07/01/2048

4.00%,

08/01/2048

4.50%,

02/01/2030

4.50%,

08/01/2030

4.50%,

05/01/2031

4.50%,

06/01/2031

4.50%,

06/01/2039

4.50%,

10/01/2039

4.50%,

10/01/2040

4.50%,

03/01/2041

4.50%,

03/01/2041

4.50%,

11/01/2041

4.50%,

09/01/2043

4.50%,

11/01/2043

4.50%,

11/01/2043

4.50%,

01/01/2044

4.50%,

01/01/2044

4.50%,

05/01/2044

4.50%,

07/01/2044

4.50%,

10/01/2045

4.50%,

03/01/2047

4.50%,

04/01/2047

4.50%,

06/01/2047

4.50%,

09/01/2047

4.50%,

05/01/2048

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

4.50%,

07/01/2048

$

$

4.50%,

11/01/2048

4.50%,

01/01/2049

4.50%,

05/01/2049

5.00%,

12/01/2027

5.00%,

02/01/2030

5.00%,

04/01/2034

5.00%,

06/01/2035

5.00%,

01/01/2038

5.00%,

11/01/2038

5.00%,

12/01/2038

5.00%,

09/01/2039

5.00%,

01/01/2040

5.00%,

05/01/2040

5.00%,

04/01/2041

5.00%,

06/01/2041

5.00%,

11/01/2041

5.00%,

11/01/2041

5.50%,

01/01/2028

5.50%,

04/01/2036

5.50%,

12/01/2036

5.50%,

12/01/2036

5.50%,

03/01/2039

5.50%,

04/01/2039

5.50%,

02/01/2040

5.50%,

06/01/2041

$

18,666

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.65

%

1.50%,

05/01/2036

4,881

4,405

1.50%,

11/01/2036

2,272

2,055

1.50%,

11/01/2050

1,702

1,323

1.50%,

01/01/2051

2,966

2,298

1.50%,

06/01/2051

6,122

4,745

2.00%,

09/01/2028

2.00%,

05/01/2030

2.00%,

02/01/2036

2,586

2,386

2.00%,

02/01/2036

1,312

1,208

2.00%,

04/01/2036

3,063

2,822

2.00%,

05/01/2036

1,507

1,388

2.00%,

06/01/2036

2,177

2,005

2.00%,

11/01/2041

5,013

4,382

2.00%,

05/01/2042

1,357

1,176

2.00%,

04/01/2051

10,832

8,889

2.00%,

04/01/2051

6,603

5,431

2.00%,

04/01/2051

6,504

5,363

2.00%,

05/01/2051

9,852

8,083

2.00%,

05/01/2051

8,080

6,567

2.00%,

11/01/2051

5,816

4,773

2.00%,

12/01/2051

7,503

6,148

2.00%,

12/01/2051

9,453

7,744

2.00%,

01/01/2052

7,008

5,728

2.50%,

01/01/2028

2.50%,

07/01/2028

2.50%,

08/01/2028

2.50%,

08/01/2028

2.50%,

09/01/2028

2.50%,

07/01/2029

2.50%,

07/01/2029

2.50%,

07/01/2029

2.50%,

09/01/2029

2.50%,

12/01/2029

2.50%,

01/01/2030

2.50%,

04/01/2030

2.50%,

05/01/2030

2.50%,

06/01/2030

2.50%,

08/01/2030

2.50%,

08/01/2030

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

2.50%,

01/01/2031

$

$

2.50%,

01/01/2031

2.50%,

02/01/2031

2.50%,

02/01/2031

2.50%,

05/01/2031

2.50%,

06/01/2031

2.50%,

11/01/2031

509

2.50%,

12/01/2031

2.50%,

01/01/2032

2.50%,

01/01/2032

2.50%,

02/01/2032

2.50%,

03/01/2032

2.50%,

03/01/2032

2.50%,

11/01/2032

2.50%,

12/01/2032

2.50%,

01/01/2033

2.50%,

02/01/2033

2.50%,

04/01/2033

2.50%,

07/01/2033

2.50%,

10/01/2034

2.50%,

10/01/2036

2.50%,

10/01/2036

2.50%,

12/01/2036

2.50%,

07/01/2040

1,198

1,088

2.50%,

01/01/2043

2.50%,

10/01/2043

2.50%,

08/01/2050

1,721

1,476

2.50%,

02/01/2051

5,067

4,363

2.50%,

02/01/2051

1,530

1,311

2.50%,

07/01/2051

1,615

1,370

2.50%,

09/01/2051

2,527

2,142

2.50%,

11/01/2051

4,702

4,045

2.50%,

11/01/2051

5,576

4,805

2.50%,

12/01/2051

2,806

2,395

2.50%,

01/01/2052

3,426

2,942

2.50%,

02/01/2052

2,531

2,144

2.50%,

02/01/2052

2,713

2,297

2.50%,

02/01/2052

3,893

3,325

2.50%,

02/01/2052

5,099

4,372

2.50%,

03/01/2052

4,784

4,094

2.50%,

04/01/2052

718

613

2.50%,

04/01/2052

5,280

4,519

2.50%,

05/01/2052

2,735

2,350

3.00%,

11/01/2026

3.00%,

02/01/2027

3.00%,

04/01/2027

3.00%,

08/01/2027

3.00%,

10/01/2028

3.00%,

11/01/2028

3.00%,

02/01/2029

3.00%,

03/01/2029

3.00%,

03/01/2029

3.00%,

04/01/2029

3.00%,

05/01/2029

3.00%,

06/01/2029

3.00%,

08/01/2029

3.00%,

10/01/2029

3.00%,

10/01/2029

3.00%,

10/01/2029

3.00%,

11/01/2029

3.00%,

01/01/2030

3.00%,

01/01/2030

3.00%,

01/01/2030

3.00%,

03/01/2030

3.00%,

06/01/2030

3.00%,

06/01/2030

3.00%,

09/01/2030

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

09/01/2030

$

$

3.00%,

10/01/2030

3.00%,

02/01/2031

3.00%,

04/01/2032

3.00%,

05/01/2032

3.00%,

08/01/2032

3.00%,

01/01/2033

3.00%,

02/01/2033

3.00%,

02/01/2033

573

554

3.00%,

08/01/2033

3.00%,

05/01/2034

3.00%,

05/01/2034

3.00%,

08/01/2034

3.00%,

10/01/2034

3.00%,

11/01/2034

3.00%,

02/01/2035

3.00%,

02/01/2035

3.00%,

03/01/2035

3.00%,

04/01/2035

3.00%,

06/01/2035

3.00%,

07/01/2035

3.00%,

11/01/2035

3.00%,

07/01/2036

3.00%,

12/01/2036

3.00%,

12/01/2036

3.00%,

12/01/2036

3.00%,

02/01/2037

3.00%,

02/01/2037

3.00%,

04/01/2037

3.00%,

04/01/2037

3.00%,

07/01/2037

3.00%,

08/01/2037

3.00%,

09/01/2037

3.00%,

06/01/2040

943

877

3.00%,

04/01/2042

3.00%,

09/01/2042

3.00%,

02/01/2043

3.00%,

02/01/2043

3.00%,

02/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

06/01/2043

3.00%,

07/01/2043

3.00%,

07/01/2043

3.00%,

08/01/2043

3.00%,

08/01/2043

3.00%,

11/01/2043

3.00%,

01/01/2045

3.00%,

05/01/2045

3.00%,

09/01/2045

3.00%,

10/01/2045

3.00%,

11/01/2045

3.00%,

12/01/2045

3.00%,

09/01/2046

3.00%,

10/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

12/01/2046

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

12/01/2046

$

562

$

507

3.00%,

01/01/2047

3.00%,

02/01/2047

3.00%,

02/01/2047

3.00%,

05/01/2047

3.00%,

10/01/2048

3.00%,

11/01/2049

865

770

3.00%,

03/01/2050

2,672

2,375

3.00%,

03/01/2050

2,540

2,270

3.00%,

03/01/2052

2,297

2,052

3.00%,

03/01/2052

2,667

2,367

3.00%,

04/01/2052

1,556

1,391

3.00%,

05/01/2052

3,034

2,670

3.50%,

12/01/2026

3.50%,

02/01/2027

3.50%,

11/01/2028

3.50%,

12/01/2028

3.50%,

03/01/2029

3.50%,

01/01/2031

3.50%,

04/01/2031

3.50%,

02/01/2032

3.50%,

04/01/2032

3.50%,

05/01/2032

3.50%,

06/01/2032

3.50%,

07/01/2032

3.50%,

09/01/2032

3.50%,

12/01/2032

643

632

3.50%,

09/01/2033

3.50%,

09/01/2033

3.50%,

10/01/2033

3.50%,

10/01/2033

3.50%,

11/01/2033

3.50%,

01/01/2034

3.50%,

06/01/2034

3.50%,

08/01/2034

3.50%,

11/01/2034

3.50%,

02/01/2035

3.50%,

12/01/2035

3.50%,

07/01/2036

3.50%,

02/01/2037

3.50%,

03/01/2037

3.50%,

05/01/2037

3.50%,

07/01/2037

3.50%,

10/01/2037

3.50%,

01/01/2038

3.50%,

01/01/2041

3.50%,

03/01/2041

3.50%,

10/01/2041

3.50%,

12/01/2041

3.50%,

12/01/2041

3.50%,

01/01/2042

3.50%,

03/01/2042

3.50%,

03/01/2042

3.50%,

03/01/2042

3.50%,

05/01/2042

3.50%,

05/01/2042

3.50%,

07/01/2042

3.50%,

07/01/2042

3.50%,

10/01/2042

3.50%,

04/01/2043

3.50%,

05/01/2043

3.50%,

05/01/2043

3.50%,

05/01/2043

3.50%,

06/01/2043

3.50%,

07/01/2043

3.50%,

07/01/2043

3.50%,

08/01/2043

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

08/01/2043

$

$

3.50%,

09/01/2043

3.50%,

12/01/2043

3.50%,

01/01/2044

581

547

3.50%,

02/01/2044

3.50%,

07/01/2044

3.50%,

10/01/2044

3.50%,

10/01/2044

3.50%,

11/01/2044

3.50%,

12/01/2044

3.50%,

12/01/2044

3.50%,

04/01/2045

3.50%,

07/01/2045

3.50%,

08/01/2045

3.50%,

09/01/2045

3.50%,

09/01/2045

3.50%,

11/01/2045

3.50%,

11/01/2045

3.50%,

12/01/2045

3.50%,

01/01/2046

3.50%,

02/01/2046

3.50%,

03/01/2046

3.50%,

09/01/2046

3.50%,

11/01/2046

3.50%,

12/01/2046

3.50%,

02/01/2047

3.50%,

09/01/2047

3.50%,

11/01/2047

3.50%,

01/01/2048

3.50%,

02/01/2048

3.50%,

03/01/2048

3.50%,

04/01/2048

3.50%,

10/01/2048

3.50%,

04/01/2049

3.50%,

06/01/2049

3.50%,

08/01/2049

3.50%,

11/01/2049

2,476

2,317

3.50%,

11/01/2049

800

743

3.50%,

12/01/2049

1,066

1,001

3.50%,

01/01/2052

3,621

3,357

3.50%,

04/01/2052

1,277

1,180

3.50%,

06/01/2052

1,488

1,375

4.00%,

10/01/2030

4.00%,

12/01/2030

4.00%,

02/01/2031

4.00%,

03/01/2031

4.00%,

07/01/2031

4.00%,

10/01/2031

4.00%,

11/01/2031

4.00%,

12/01/2031

4.00%,

01/01/2032

4.00%,

09/01/2033

4.00%,

01/01/2036

4.00%,

02/01/2036

4.00%,

06/01/2036

4.00%,

01/01/2037

4.00%,

02/01/2037

4.00%,

07/01/2038

4.00%,

02/01/2039

4.00%,

01/01/2041

4.00%,

02/01/2041

4.00%,

02/01/2041

4.00%,

09/01/2041

4.00%,

02/01/2043

4.00%,

12/01/2043

4.00%,

01/01/2044

4.00%,

06/01/2044

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.00%,

07/01/2044

$

$

4.00%,

07/01/2044

4.00%,

09/01/2044

4.00%,

10/01/2044

4.00%,

02/01/2045

4.00%,

07/01/2045

4.00%,

10/01/2045

4.00%,

11/01/2045

4.00%,

12/01/2045

4.00%,

02/01/2046

4.00%,

03/01/2046

4.00%,

04/01/2047

4.00%,

08/01/2047

4.00%,

08/01/2047

4.00%,

08/01/2047

4.00%,

09/01/2047

4.00%,

11/01/2047

4.00%,

02/01/2048

4.00%,

03/01/2048

4.00%,

06/01/2048

4.00%,

06/01/2048

4.00%,

07/01/2048

4.00%,

08/01/2048

4.00%,

09/01/2048

4.00%,

01/01/2049

1,422

1,362

4.00%,

03/01/2049

4.00%,

04/01/2049

4.00%,

04/01/2049

4.00%,

08/01/2049

4.00%,

10/01/2049

4.00%,

11/01/2049

4.00%,

04/01/2050

1,382

1,322

4.00%,

06/01/2052

1,748

1,676

4.00%,

08/01/2052

3,050

2,899

4.00%,

09/01/2052

3,897

3,714

4.00%,

10/01/2052

832

791

4.50%,

02/01/2030

4.50%,

04/01/2030

4.50%,

08/01/2030

4.50%,

09/01/2030

4.50%,

01/01/2031

4.50%,

04/01/2031

4.50%,

05/01/2031

4.50%,

07/01/2031

4.50%,

08/01/2031

4.50%,

02/01/2035

4.50%,

08/01/2040

4.50%,

08/01/2040

4.50%,

06/01/2041

4.50%,

09/01/2041

4.50%,

09/01/2043

4.50%,

10/01/2043

4.50%,

01/01/2044

4.50%,

01/01/2044

4.50%,

02/01/2044

4.50%,

03/01/2044

4.50%,

03/01/2044

4.50%,

05/01/2044

4.50%,

05/01/2044

4.50%,

05/01/2044

4.50%,

06/01/2044

4.50%,

08/01/2044

4.50%,

12/01/2044

4.50%,

04/01/2046

4.50%,

08/01/2046

4.50%,

02/01/2047

4.50%,

02/01/2047

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.50%,

03/01/2047

$

$

4.50%,

10/01/2047

4.50%,

11/01/2047

4.50%,

02/01/2048

4.50%,

04/01/2048

4.50%,

05/01/2048

4.50%,

07/01/2048

1,313

1,285

4.50%,

08/01/2048

4.50%,

08/01/2048

4.50%,

10/01/2048

4.50%,

10/01/2048

4.50%,

12/01/2048

834

825

4.50%,

03/01/2049

1,449

1,423

4.50%,

04/01/2049

4.50%,

05/01/2049

924

905

4.50%,

07/01/2049

4.50%,

07/01/2049

4.50%,

09/01/2049

1,452

1,422

4.50%,

09/01/2049

4.50%,

06/01/2052

4.50%,

09/01/2052

1,808

1,768

4.50%,

10/01/2052

1,523

1,484

4.50%,

10/01/2052

1,858

1,810

4.50%,

05/01/2053

2,039

1,983

5.00%,

04/01/2029

5.00%,

09/01/2029

5.00%,

03/01/2030

5.00%,

08/01/2030

5.00%,

07/01/2035

5.00%,

04/01/2037

5.00%,

07/01/2039

5.00%,

07/01/2039

5.00%,

03/01/2044

5.00%,

03/01/2044

5.00%,

05/01/2044

5.00%,

11/01/2044

5.00%,

04/01/2048

5.00%,

09/01/2048

5.00%,

05/01/2049

5.00%,

06/01/2049

5.00%,

07/01/2049

5.00%,

08/01/2049

5.00%,

07/01/2052

2,567

2,564

5.00%,

11/01/2052

3,667

3,654

5.00%,

05/01/2053

4,411

4,404

5.00%,

06/01/2053

1,982

1,964

5.00%,

06/01/2053

2,382

2,377

5.00%,

10/01/2053

2,010

2,009

5.00%,

01/01/2056

994

983

5.00%,

02/01/2056

728

720

5.50%,

03/01/2027

5.50%,

01/01/2029

5.50%,

12/01/2029

5.50%,

11/01/2035

5.50%,

12/01/2036

5.50%,

03/01/2037

5.50%,

08/01/2037

5.50%,

08/01/2037

5.50%,

08/01/2037

5.50%,

05/01/2038

5.50%,

06/01/2038

5.50%,

03/01/2053

2,721

2,775

5.50%,

08/01/2053

4,856

4,945

5.50%,

11/01/2053

4,424

4,512

5.50%,

03/01/2054

2,346

2,367

5.50%,

04/01/2054

3,244

3,306

5.50%,

08/01/2054

2,278

2,306

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

5.50%,

10/01/2054

$

1,766

$

1,800

5.50%,

02/01/2055

1,384

1,406

5.50%,

04/01/2055

1,861

1,889

5.50%,

08/01/2055

1,915

1,937

5.50%,

10/01/2055

2,038

2,069

6.00%,

05/01/2041

6.00%,

01/01/2053

1,418

1,472

6.00%,

05/01/2053

1,075

1,114

6.00%,

11/01/2053

3,176

3,281

6.00%,

06/01/2054

2,229

2,306

6.00%,

07/01/2054

2,428

2,516

6.00%,

08/01/2054

1,758

1,802

6.00%,

09/01/2054

2,454

2,544

6.00%,

11/01/2054

2,196

2,274

6.00%,

11/01/2054

1,826

1,890

6.00%,

01/01/2055

1,221

1,265

6.00%,

09/01/2055

2,221

2,296

6.50%,

01/01/2038

6.50%,

01/01/2054

1,857

1,942

6.50%,

02/01/2054

2,441

2,563

6.50%,

05/01/2054

837

876

6.50%,

04/01/2055

1,862

1,960

6.50%,

11/01/2055

1,409

1,474

$

299,072

Government

National

Mortgage

Association

(GNMA)

-

.78

%

2.00%,

08/20/2050

3,105

2,567

2.00%,

01/20/2051

4,562

3,771

2.00%,

02/20/2051

5,285

4,368

2.00%,

05/20/2051

3,980

3,290

2.50%,

03/20/2028

2.50%,

07/20/2028

2.50%,

03/20/2031

2.50%,

05/20/2032

2.50%,

07/20/2043

2.50%,

06/20/2045

2.50%,

12/20/2046

2.50%,

01/20/2047

2.50%,

06/20/2050

4,962

4,276

2.50%,

05/20/2051

6,588

5,672

2.50%,

09/20/2051

5,850

5,038

3.00%,

07/20/2030

3.00%,

01/20/2031

3.00%,

07/20/2032

3.00%,

01/20/2033

3.00%,

10/15/2042

3.00%,

03/20/2043

3.00%,

04/20/2043

3.00%,

06/15/2043

3.00%,

07/15/2043

3.00%,

08/15/2043

3.00%,

08/15/2043

3.00%,

11/15/2044

3.00%,

02/15/2045

3.00%,

07/15/2045

3.00%,

08/15/2045

3.00%,

08/20/2045

3.00%,

10/20/2045

3.00%,

12/20/2045

3.00%,

03/20/2046

3.00%,

05/20/2046

3.00%,

06/20/2046

3.00%,

08/20/2046

3.00%,

09/20/2046

3.00%,

10/20/2046

3.00%,

12/20/2046

3.00%,

01/20/2047

3.00%,

10/20/2047

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

3.00%,

02/20/2048

$

$

3.00%,

03/20/2048

3.00%,

11/20/2049

3,542

3,171

3.00%,

09/20/2051

4,147

3,706

3.00%,

12/20/2051

717

641

3.50%,

09/20/2028

3.50%,

01/15/2043

3.50%,

03/20/2043

3.50%,

04/15/2043

3.50%,

04/20/2043

3.50%,

08/15/2043

3.50%,

08/20/2043

3.50%,

09/20/2043

3.50%,

07/20/2044

3.50%,

08/20/2044

3.50%,

07/20/2045

3.50%,

10/20/2045

3.50%,

11/20/2045

3.50%,

12/20/2045

3.50%,

03/20/2046

993

931

3.50%,

04/20/2046

3.50%,

05/20/2046

3.50%,

06/20/2046

948

888

3.50%,

07/15/2046

3.50%,

07/20/2046

3.50%,

08/20/2046

509

3.50%,

09/20/2046

3.50%,

10/20/2046

3.50%,

11/20/2046

3.50%,

01/20/2047

3.50%,

02/20/2047

3.50%,

03/20/2047

3.50%,

04/20/2047

3.50%,

05/20/2047

3.50%,

06/20/2047

3.50%,

08/20/2047

528

3.50%,

10/20/2047

3.50%,

11/20/2047

3.50%,

12/20/2047

3.50%,

01/20/2048

3.50%,

04/20/2052

1,568

1,452

4.00%,

08/15/2040

4.00%,

12/20/2040

4.00%,

08/15/2041

4.00%,

11/15/2041

4.00%,

03/15/2042

4.00%,

03/20/2042

4.00%,

04/20/2042

4.00%,

05/15/2042

4.00%,

10/20/2043

4.00%,

11/20/2043

4.00%,

02/20/2044

4.00%,

03/15/2044

4.00%,

05/20/2044

4.00%,

06/20/2044

4.00%,

07/20/2044

4.00%,

08/20/2044

4.00%,

09/20/2044

4.00%,

10/20/2044

4.00%,

11/20/2044

4.00%,

12/20/2044

4.00%,

01/20/2045

4.00%,

04/20/2045

4.00%,

05/15/2045

4.00%,

07/20/2045

4.00%,

08/20/2045

4.00%,

09/20/2045

4.00%,

10/20/2045

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

4.00%,

11/20/2045

$

$

4.00%,

12/15/2045

4.00%,

12/20/2045

4.00%,

01/20/2046

4.00%,

02/20/2046

4.00%,

04/20/2046

4.00%,

05/20/2046

4.00%,

07/20/2046

4.00%,

01/20/2047

4.00%,

02/20/2047

4.00%,

03/20/2047

4.00%,

05/20/2047

4.00%,

06/20/2047

4.00%,

07/20/2047

4.00%,

08/20/2047

4.00%,

10/20/2047

4.00%,

11/20/2047

852

814

4.00%,

04/20/2052

2,357

2,228

4.50%,

02/15/2039

4.50%,

05/15/2039

4.50%,

11/15/2039

4.50%,

04/15/2040

4.50%,

01/20/2041

4.50%,

02/20/2041

4.50%,

03/20/2041

4.50%,

07/15/2041

4.50%,

05/20/2043

4.50%,

06/20/2043

4.50%,

10/20/2043

4.50%,

11/20/2043

4.50%,

03/20/2044

4.50%,

04/20/2044

4.50%,

05/20/2044

4.50%,

07/20/2044

4.50%,

12/20/2044

4.50%,

02/20/2045

4.50%,

03/20/2045

4.50%,

04/20/2045

4.50%,

06/20/2046

4.50%,

12/20/2046

4.50%,

02/20/2047

4.50%,

04/20/2047

4.50%,

06/15/2047

4.50%,

08/20/2047

4.50%,

10/20/2047

4.50%,

02/20/2048

674

665

4.50%,

05/20/2048

502

4.50%,

10/20/2048

4.50%,

11/20/2048

4.50%,

12/20/2048

4.50%,

02/20/2049

2,151

2,114

4.50%,

05/20/2052

1,367

1,332

4.50%,

09/20/2052

2,560

2,493

4.50%,

10/20/2054

4.50%,

11/20/2054

1,115

1,079

5.00%,

08/20/2041

5.00%,

04/20/2042

5.00%,

12/20/2042

5.00%,

07/20/2043

5.00%,

02/20/2044

5.00%,

03/20/2044

5.00%,

12/20/2045

5.00%,

03/20/2048

5.00%,

06/20/2048

538

541

5.00%,

10/20/2048

5.00%,

01/20/2053

4,980

4,966

5.00%,

04/20/2053

3,227

3,209

5.00%,

09/20/2053

616

612

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

5.00%,

04/20/2056

(k) $

2,800

$

2,773

5.50%,

01/15/2040

5.50%,

06/20/2040

5.50%,

01/20/2041

5.50%,

10/20/2042

5.50%,

09/20/2043

5.50%,

03/20/2053

2,305

2,339

5.50%,

06/20/2053

5.50%,

08/20/2053

3,152

3,196

5.50%,

10/20/2053

1,300

1,321

5.50%,

12/20/2053

2,263

2,300

5.50%,

04/20/2054

1,895

1,919

5.50%,

07/20/2054

1,537

1,551

6.00%,

04/15/2035

6.00%,

07/20/2053

2,341

2,395

6.00%,

10/20/2053

1,910

1,945

6.00%,

03/20/2054

771

786

$

97,970

U.S.

Treasury

-

.05

%

0.38%,

09/30/2027

4,520

4,294

0.50%,

04/30/2027

2,100

2,028

0.50%,

05/31/2027

1,315

1,266

0.50%,

06/30/2027

4,645

4,459

0.50%,

08/31/2027

5,260

5,020

0.50%,

10/31/2027

10,120

9,605

0.63%,

11/30/2027

4,645

4,406

0.63%,

12/31/2027

8,210

7,768

0.63%,

05/15/2030

3,960

3,469

0.63%,

08/15/2030

20,910

18,159

0.75%,

01/31/2028

7,610

7,198

0.88%,

11/15/2030

14,710

12,821

1.00%,

07/31/2028

5,825

5,462

1.13%,

02/29/2028

5,895

5,604

1.13%,

08/31/2028

4,875

4,574

1.13%,

02/15/2031

11,515

10,095

1.13%,

05/15/2040

2,620

1,650

1.13%,

08/15/2040

2,240

1,396

1.25%,

03/31/2028

7,125

6,776

1.25%,

04/30/2028

6,000

5,694

1.25%,

05/31/2028

6,120

5,796

1.25%,

06/30/2028

4,550

4,300

1.25%,

09/30/2028

7,740

7,269

1.25%,

08/15/2031

8,315

7,217

1.25%,

05/15/2050

2,600

1,234

1.38%,

10/31/2028

4,505

4,236

1.38%,

12/31/2028

4,880

4,571

1.38%,

11/15/2031

10,870

9,426

1.38%,

11/15/2040

1,610

1,037

1.38%,

08/15/2050

2,920

1,428

1.50%,

11/30/2028

6,115

5,758

1.50%,

02/15/2030

12,800

11,713

1.63%,

08/15/2029

2,090

1,945

1.63%,

05/15/2031

10,330

9,213

1.63%,

11/15/2050

2,730

1,424

1.75%,

01/31/2029

5,065

4,784

1.75%,

11/15/2029

4,890

4,545

1.75%,

08/15/2041

3,285

2,196

1.88%,

02/28/2029

3,895

3,687

1.88%,

02/15/2032

8,670

7,688

1.88%,

02/15/2041

1,245

862

1.88%,

02/15/2051

3,380

1,877

1.88%,

11/15/2051

4,000

2,197

2.00%,

11/15/2041

2,895

2,002

2.00%,

02/15/2050

2,785

1,621

2.00%,

08/15/2051

4,295

2,445

2.25%,

11/15/2027

8,485

8,274

2.25%,

05/15/2041

2,070

1,508

2.25%,

08/15/2046

3,195

2,083

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

2.25%,

08/15/2049

$

1,775

$

1,104

2.25%,

02/15/2052

3,615

2,179

2.38%,

05/15/2027

4,545

4,474

2.38%,

03/31/2029

3,685

3,534

2.38%,

05/15/2029

4,695

4,495

2.38%,

02/15/2042

1,865

1,359

2.38%,

11/15/2049

1,625

1,035

2.38%,

05/15/2051

3,480

2,177

2.50%,

02/15/2045

1,550

1,087

2.50%,

02/15/2046

2,925

2,018

2.50%,

05/15/2046

2,520

1,731

2.63%,

05/31/2027

3,330

3,285

2.63%,

02/15/2029

7,610

7,363

2.63%,

07/31/2029

2,325

2,236

2.75%,

04/30/2027

3,660

3,620

2.75%,

07/31/2027

6,175

6,088

2.75%,

02/15/2028

5,775

5,664

2.75%,

05/31/2029

7,280

7,044

2.75%,

08/15/2032

4,960

4,587

2.75%,

08/15/2042

1,591

1,217

2.75%,

11/15/2042

2,165

1,647

2.75%,

08/15/2047

2,080

1,472

2.75%,

11/15/2047

2,335

1,647

2.88%,

05/15/2028

4,500

4,414

2.88%,

08/15/2028

6,030

5,903

2.88%,

04/30/2029

7,835

7,617

2.88%,

05/15/2032

10,930

10,222

2.88%,

05/15/2043

2,333

1,792

2.88%,

08/15/2045

2,145

1,593

2.88%,

11/15/2046

1,465

1,071

2.88%,

05/15/2049

1,905

1,354

2.88%,

05/15/2052

3,410

2,365

3.00%,

05/15/2042

1,200

956

3.00%,

11/15/2044

1,475

1,129

3.00%,

05/15/2045

1,845

1,404

3.00%,

11/15/2045

1,320

998

3.00%,

02/15/2047

3,115

2,321

3.00%,

05/15/2047

2,050

1,524

3.00%,

02/15/2048

2,445

1,803

3.00%,

08/15/2048

2,670

1,960

3.00%,

02/15/2049

3,200

2,337

3.00%,

08/15/2052

3,500

2,488

3.13%,

08/31/2027

6,040

5,981

3.13%,

11/15/2028

5,585

5,488

3.13%,

08/31/2029

3,885

3,793

3.13%,

11/15/2041

1,520

1,244

3.13%,

02/15/2042

805

656

3.13%,

02/15/2043

1,865

1,493

3.13%,

08/15/2044

3,045

2,387

3.13%,

05/15/2048

3.25%,

06/30/2029

2,055

2,018

3.25%,

05/15/2042

3,650

3,008

3.38%,

05/15/2033

6,730

6,411

3.38%,

08/15/2042

2,565

2,142

3.38%,

05/15/2044

2,350

1,921

3.38%,

11/15/2048

2,820

2,210

3.50%,

09/30/2027

19,050

18,957

3.50%,

01/31/2028

2,565

2,550

3.50%,

04/30/2028

4,915

4,884

3.50%,

09/30/2029

9,405

9,292

3.50%,

01/31/2030

2,375

2,342

3.50%,

02/15/2033

5,730

5,513

3.50%,

02/15/2039

3.63%,

05/31/2028

4,475

4,457

3.63%,

03/31/2030

6,035

5,973

3.63%,

08/31/2030

9,090

8,978

3.63%,

09/30/2030

7,130

7,041

3.63%,

08/15/2043

1,880

1,606

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

3.63%,

02/15/2044

$

1,755

$

1,491

3.63%,

02/15/2053

3,705

2,974

3.63%,

05/15/2053

3,440

2,758

3.75%,

06/30/2027

3,420

3,417

3.75%,

04/15/2028

8,510

8,498

3.75%,

06/30/2030

3,430

3,408

3.75%,

12/31/2030

3,960

3,926

3.75%,

08/15/2041

940

838

3.75%,

11/15/2043

1,935

1,677

3.88%,

09/30/2029

3.88%,

11/30/2029

4,885

4,884

3.88%,

03/31/2031

6,450

6,429

3.88%,

08/31/2032

4,755

4,695

3.88%,

08/15/2033

8,305

8,153

3.88%,

08/15/2034

7,795

7,597

3.88%,

08/15/2040

894

820

3.88%,

02/15/2043

3,170

2,817

3.88%,

05/15/2043

3,270

2,898

4.00%,

12/15/2027

6,325

6,342

4.00%,

06/30/2028

7,340

7,371

4.00%,

10/31/2029

7,165

7,194

4.00%,

02/28/2030

8,115

8,146

4.00%,

05/31/2030

5,365

5,383

4.00%,

06/30/2032

5,885

5,858

4.00%,

02/15/2034

8,175

8,064

4.00%,

11/15/2035

3,195

3,117

4.00%,

11/15/2042

2,365

2,140

4.00%,

11/15/2052

3,315

2,848

4.13%,

09/30/2027

755

758

4.13%,

10/31/2027

4,930

4,950

4.13%,

11/15/2027

4,570

4,590

4.13%,

08/31/2030

500

504

4.13%,

02/29/2032

6,160

6,183

4.13%,

11/15/2032

7,080

7,082

4.13%,

08/15/2053

3,395

2,977

4.25%,

06/30/2029

7,725

7,819

4.25%,

01/31/2030

5,095

5,159

4.25%,

02/28/2031

4,605

4,665

4.25%,

11/15/2034

7,140

7,138

4.25%,

05/15/2035

6,200

6,184

4.25%,

08/15/2035

6,145

6,122

4.25%,

05/15/2039

715

694

4.25%,

11/15/2040

970

925

4.25%,

02/15/2054

2,605

2,333

4.25%,

08/15/2054

3,490

3,126

4.38%,

01/31/2032

4,550

4,627

4.38%,

05/15/2034

7,800

7,882

4.38%,

02/15/2038

4.38%,

11/15/2039

1,015

990

4.38%,

05/15/2040

854

829

4.38%,

05/15/2041

735

708

4.38%,

08/15/2043

3,250

3,068

4.50%,

04/15/2027

6,995

7,048

4.50%,

05/15/2027

2,715

2,735

4.50%,

11/15/2033

8,965

9,151

4.50%,

02/15/2036

700

714

4.50%,

05/15/2038

710

715

4.50%,

08/15/2039

995

986

4.50%,

02/15/2044

1,310

1,253

4.50%,

11/15/2054

4,415

4,125

4.63%,

06/15/2027

3,680

3,714

4.63%,

02/15/2035

8,635

8,860

4.63%,

02/15/2040

1,715

1,714

4.63%,

05/15/2054

10,455

9,969

4.63%,

02/15/2055

4,290

4,092

4.63%,

11/15/2055

1,265

1,209

4.75%,

02/15/2037

1,635

1,693

4.75%,

02/15/2041

1,120

1,126

Schedule

of

Investments

Bond

Market

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

4.75%,

11/15/2043

$

500

$

4.75%,

02/15/2045

1,540

1,513

4.75%,

11/15/2053

4,065

3,952

4.75%,

05/15/2055

2,075

2,020

4.75%,

08/15/2055

3,990

3,888

4.75%,

02/15/2056

1,400

1,365

5.00%,

05/15/2037

1,130

1,196

5.25%,

02/15/2029

3,000

3,121

5.38%,

02/15/2031

3,616

3,843

6.13%,

11/15/2027

2,225

2,306

6.13%,

08/15/2029

900

964

6.25%,

05/15/2030

1,500

1,633

6.38%,

08/15/2027

1,830

1,893

$

780,489

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

1,196,197

Total

Investments

$

1,703,798

Other

Assets

and

Liabilities

- (0.53)%

(8,933)

TOTAL

NET

ASSETS

-

100.00%

$

1,694,865

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,116

or

0.66%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$5,432

or

0.32%

of

net

assets.

(e) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,004

or

0.12%

of

net

assets.

(f) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(g) Non-income

producing

security

(h) Certain

variable

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.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(i) Security

purchased

on

a

when-issued

basis.

(j) Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(k) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

19,650

$

101,177

$

96,692

$

24,135

$

19,650

$

101,177

$

96,692

$

24,135

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.33

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.34

%

iShares

Broad

USD

High

Yield

Corporate

Bond

ETF

(a) 271,000

$

9,983

Vanguard

Emerging

Markets

Government

Bond

ETF

75,000

4,927

Vanguard

Short-Term

Corporate

Bond

ETF

(a) 37,000

2,933

$

17,843

Money

Market

Funds

-

.99

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(b),(c)

1,137,674

1,138

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(b),(c),(d)

15,852,709

15,853

$

16,991

TOTAL

INVESTMENT

COMPANIES

$

34,834

BONDS

-

.95

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

.52

%

Boeing

Co/The

5.15%,

05/01/2030

$

$

5.81%,

05/01/2050

890

860

7.01%,

05/01/2064

Bombardier

Inc

7.50%,

02/01/2029

(e) 50

Honeywell

Aerospace

Inc

4.60%,

03/16/2033

(e) 165

4.95%,

03/16/2036

(e) 195

5.62%,

03/16/2046

(e) 110

5.73%,

03/16/2056

(e) 190

Northrop

Grumman

Corp

4.03%,

10/15/2047

4.95%,

03/15/2053

5.20%,

06/01/2054

(a) 235

5.25%,

07/15/2035

RTX

Corp

3.03%,

03/15/2052

4.63%,

11/16/2048

5.38%,

02/27/2053

6.10%,

03/15/2034

6.40%,

03/15/2054

Spirit

AeroSystems

Inc

4.60%,

06/15/2028

TransDigm

Inc

6.38%,

03/01/2029

(e) 100

6.75%,

01/31/2034

(e) 383

$

3,702

Agriculture

-

.58

%

BAT

Capital

Corp

4.54%,

08/15/2047

4.63%,

03/22/2033

4.76%,

09/06/2049

5.35%,

08/15/2032

5.83%,

02/20/2031

7.08%,

08/02/2053

Philip

Morris

International

Inc

4.63%,

10/29/2035

Reynolds

American

Inc

5.70%,

08/15/2035

$

1,412

Airlines

-

.27

%

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(e) 267

AS

Mileage

Plan

IP

Ltd

5.02%,

10/20/2029

(e) 445

5.31%,

10/20/2031

(e) 145

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.75%,

10/20/2028

(e) 688

687

Grupo

Aeromexico

SAB

de

CV

8.63%,

11/15/2031

(a),(e)

United

Airlines

2024-1

Class

A

Pass

Through

Trust

5.88%,

08/15/2038

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Airlines

(continued)

United

Airlines

Holdings

Inc

4.88%,

03/01/2029

$

750

$

734

5.38%,

03/01/2031

$

3,085

Automobile

Asset

Backed

Securities

-

.66

%

Ally

Auto

Receivables

Trust

2023-1

5.46%,

05/15/2028

AutoNation

Finance

Trust

2025-1

5.63%,

09/10/2032

(e) 200

BofA

Auto

Trust

2025-1

4.22%,

11/22/2027

(e) 69

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.55%

Carmax

Auto

Owner

Trust

2024-3

5.21%,

09/15/2027

Chase

Auto

Owner

Trust

2024-5

4.18%,

08/27/2029

(e) 555

555

Drive

Auto

Receivables

Trust

2025-2

4.29%,

10/16/2028

513

513

Ford

Credit

Floorplan

Master

Owner

Trust

A

4.30%,

09/15/2029

(e) 200

GM

Financial

Automobile

Leasing

Trust

2025-2

4.17%,

07/20/2027

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.50%

Mercedes-Benz

Auto

Lease

Trust

2025-A

4.19%,

04/17/2028

512

512

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

4.61%,

04/16/2029

600

604

Nissan

Auto

Receivables

2025-A

Owner

Trust

4.12%,

02/15/2028

528

528

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.45%

Santander

Drive

Auto

Receivables

Trust

2025-2

4.71%,

06/15/2028

Santander

Drive

Auto

Receivables

Trust

2025-3

4.63%,

10/16/2028

680

681

Santander

Drive

Auto

Receivables

Trust

2025-4

4.28%,

01/15/2029

647

647

Santander

Drive

Auto

Receivables

Trust

2026-1

4.04%,

03/15/2029

795

795

Toyota

Lease

Owner

Trust

2024-B

4.21%,

09/20/2027

(e) 515

515

USB

Auto

Owner

Trust

2025-1

5.40%,

12/15/2032

(e) 200

Volkswagen

Auto

Lease

Trust

2025-B

3.97%,

04/20/2028

Wheels

Fleet

Lease

Funding

LLC

4.99%,

01/18/2040

(e) 562

562

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.67%

World

Omni

Auto

Receivables

Trust

2025-D

3.91%,

02/15/2029

1,000

999

$

8,904

Automobile

Manufacturers

-

.84

%

Ford

Motor

Credit

Co

LLC

5.80%,

03/08/2029

875

885

6.13%,

03/08/2034

Hyundai

Capital

America

4.50%,

09/18/2030

(e) 550

541

5.00%,

04/07/2031

(e),(f)

5.30%,

06/24/2029

(e) 125

6.50%,

01/16/2029

(e) 80

$

2,034

Automobile

Parts

&

Equipment

-

.02

%

Phinia

Inc

6.75%,

04/15/2029

(e) 35

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

-

.43

%

AIB

Group

PLC

5.32%,

05/15/2031

(e),(g)

$

$

Secured

Overnight

Financing

Rate

+

1.65%

5.87%,

03/28/2035

(e),(g)

600

620

Secured

Overnight

Financing

Rate

+

1.91%

Bank

of

America

Corp

2.68%,

06/19/2041

(g) 680

Secured

Overnight

Financing

Rate

+

1.93%

2.69%,

04/22/2032

(g) 380

Secured

Overnight

Financing

Rate

+

1.32%

4.57%,

04/27/2033

(g) 360

Secured

Overnight

Financing

Rate

+

1.83%

Barclays

PLC

4.22%,

05/24/2030

(g) 315

Secured

Overnight

Financing

Rate

+

0.93%

4.52%,

02/24/2032

(g) 235

Secured

Overnight

Financing

Rate

+

1.14%

5.34%,

09/10/2035

(g) 215

Secured

Overnight

Financing

Rate

+

1.91%

7.63%,

03/15/2035

(g),(h),(i)

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.69%

CaixaBank

SA

5.58%,

07/03/2036

(e),(g)

Secured

Overnight

Financing

Rate

+

1.79%

Citigroup

Inc

3.79%,

03/17/2033

(g) 485

Secured

Overnight

Financing

Rate

+

1.94%

5.17%,

09/11/2036

(g) 460

Secured

Overnight

Financing

Rate

+

1.49%

Cooperatieve

Rabobank

UA

4.99%,

05/27/2031

(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.92%

Danske

Bank

A/S

4.61%,

10/02/2030

(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.10%

5.02%,

03/04/2031

(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.93%

Deutsche

Bank

AG/New

York

NY

4.73%,

02/06/2032

(g) 620

611

Secured

Overnight

Financing

Rate

+

1.14%

4.95%,

08/04/2031

(g) 855

852

Secured

Overnight

Financing

Rate

+

1.30%

5.71%,

02/08/2028

(g) 165

Secured

Overnight

Financing

Rate

+

1.59%

Goldman

Sachs

Group

Inc/The

4.52%,

01/21/2032

(g) 350

Secured

Overnight

Financing

Rate

+

0.96%

4.94%,

10/21/2036

(g) 330

Secured

Overnight

Financing

Rate

+

1.33%

5.02%,

10/23/2035

(g) 275

Secured

Overnight

Financing

Rate

+

1.42%

5.07%,

01/21/2037

(g) 700

684

Secured

Overnight

Financing

Rate

+

1.19%

5.39%,

02/02/2041

(g) 700

676

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.18%

5.56%,

11/19/2045

(g) 155

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

01/28/2056

(g) 170

Secured

Overnight

Financing

Rate

+

1.70%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

HSBC

Holdings

PLC

5.13%,

11/06/2036

(g) $

$

Secured

Overnight

Financing

Rate

+

1.43%

5.24%,

05/13/2031

(g) 310

Secured

Overnight

Financing

Rate

+

1.57%

5.74%,

09/10/2036

(g) 400

Secured

Overnight

Financing

Rate

+

1.96%

Huntington

Bancshares

Inc/OH

4.62%,

01/28/2032

(g) 75

Secured

Overnight

Financing

Rate

+

0.99%

5.61%,

01/28/2041

(g) 250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.35%

5.71%,

02/02/2035

(g) 985

1,005

Secured

Overnight

Financing

Rate

+

1.87%

JPMorgan

Chase

&

Co

4.90%,

01/22/2037

(g) 230

Secured

Overnight

Financing

Rate

+

1.07%

4.91%,

07/25/2033

(g) 705

706

Secured

Overnight

Financing

Rate

+

2.08%

5.34%,

01/23/2035

(g) 290

Secured

Overnight

Financing

Rate

+

1.62%

5.58%,

07/23/2036

(g) 310

Secured

Overnight

Financing

Rate

+

1.64%

6.50%,

04/01/2030

(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.15%

Keybank

National

Association

5.00%,

01/26/2033

500

KeyCorp

5.12%,

04/04/2031

(g) 390

Secured

Overnight

Financing

Rate

+

1.23%

5.31%,

01/28/2037

(g) 145

Secured

Overnight

Financing

Rate

+

1.37%

6.40%,

03/06/2035

(g) 110

Secured

Overnight

Financing

Rate

+

2.42%

Morgan

Stanley

2.48%,

09/16/2036

(g) 225

Secured

Overnight

Financing

Rate

+

1.36%

4.49%,

01/16/2032

(g) 210

Secured

Overnight

Financing

Rate

+

0.95%

4.71%,

03/12/2032

(g) 325

Secured

Overnight

Financing

Rate

+

1.20%

5.19%,

04/17/2031

(g) 480

Secured

Overnight

Financing

Rate

+

1.51%

5.31%,

01/18/2041

(g) 435

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.32%,

07/19/2035

(g) 1,125

1,129

Secured

Overnight

Financing

Rate

+

1.56%

5.52%,

11/19/2055

(g) 120

Secured

Overnight

Financing

Rate

+

1.71%

Morgan

Stanley

Private

Bank

NA

4.73%,

07/18/2031

(g) 250

Secured

Overnight

Financing

Rate

+

1.08%

NatWest

Group

PLC

5.12%,

05/23/2031

(g) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

PNC

Financial

Services

Group

Inc/The

5.37%,

07/21/2036

(g) 355

Secured

Overnight

Financing

Rate

+

1.42%

5.42%,

01/25/2041

(g) 280

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.58%,

01/29/2036

(g) 230

Secured

Overnight

Financing

Rate

+

1.39%

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

PNC

Financial

Services

Group

Inc/The

(continued)

5.68%,

01/22/2035

(g) $

635

$

653

Secured

Overnight

Financing

Rate

+

1.90%

6.88%,

10/20/2034

(g) 205

Secured

Overnight

Financing

Rate

+

2.28%

Scotiabank

Peru

SAA

6.10%,

10/01/2035

(a),(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.31%

Texas

Capital

Bancshares

Inc

5.30%,

02/27/2032

(g) 235

Secured

Overnight

Financing

Rate

+

1.94%

Truist

Financial

Corp

4.60%,

01/27/2032

(g) 275

Secured

Overnight

Financing

Rate

+

0.97%

UBS

Group

AG

5.43%,

02/08/2030

(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.52%

7.00%,

02/10/2030

(e),(g),(h),(i)

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.08%

US

Bancorp

2.49%,

11/03/2036

(g) 740

640

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

5.03%,

01/26/2037

(g) 185

Secured

Overnight

Financing

Rate

+

1.10%

5.68%,

01/23/2035

(g) 550

568

Secured

Overnight

Financing

Rate

+

1.86%

Westpac

Banking

Corp

4.11%,

07/24/2034

(g) 525

512

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

Zions

Bancorp

NA

4.70%,

08/18/2028

(g) 345

Secured

Overnight

Financing

Rate

+

1.16%

$

22,929

Biotechnology

-

.11

%

Amgen

Inc

5.60%,

03/02/2043

CSL

Finance

PLC

4.75%,

04/27/2052

(e) 125

$

Building

Materials

-

.47

%

AmeriTex

HoldCo

Intermediate

LLC

7.63%,

08/15/2033

(e) 417

Cemex

SAB

de

CV

7.20%,

06/10/2030

(e),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.52%

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(e) 513

509

$

1,142

Chemicals

-

.74

%

CF

Industries

Inc

5.30%,

11/26/2035

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(a),(e)

International

Flavors

&

Fragrances

Inc

1.83%,

10/15/2027

(e) 75

3.47%,

12/01/2050

(e) 150

OCP

SA

6.75%,

05/02/2034

(e) 400

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(e) 275

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

(continued)

Sociedad

Quimica

y

Minera

de

Chile

SA

5.63%,

04/22/2056

(e),(g)

$

$

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.92%

$

1,797

Commercial

Mortgage

Backed

Securities

-

.76

%

ALA

Trust

2025-OANA

5.42%,

06/15/2040

(e) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.74%

BBCMS

Mortgage

Trust

2024-C24

5.42%,

02/15/2057

2,000

2,048

BBCMS

Mortgage

Trust

2025-5C33

6.17%,

03/15/2058

(j) 500

518

BBCMS

Mortgage

Trust

2025-5C38

5.15%,

11/15/2058

750

762

Benchmark

2019-B15

Mortgage

Trust

3.56%,

12/15/2072

Benchmark

2021-B25

Mortgage

Trust

2.58%,

04/15/2054

BFLD

Commercial

Mortgage

Trust

2025-5MW

4.67%,

10/10/2042

(e),(j)

BPR

Trust

2024-PMDW

5.36%,

11/05/2041

(e),(j)

1,000

1,012

BRCK

Trust

2025-830B

0.25%,

12/10/2030

(e),(j),(k)

10,000

BSTN

Commercial

Mortgage

Trust

2025-1C

5.01%,

06/15/2044

(e),(j)

1,000

1,017

BX

2025-BIO3

Mortgage

Trust

6.14%,

02/10/2042

(e) 500

506

BX

Commercial

Mortgage

Trust

2026-VLT9

5.37%,

03/15/2045

(e) 1,000

995

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.70%

BX

Trust

2025-ARIA

5.03%,

12/13/2042

(e),(j)

500

503

BX

Trust

2025-VLT6

5.12%,

03/15/2042

(e) 1,000

993

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

BX

Trust

2026-OPTM

4.95%,

03/15/2039

(e) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

BXHPP

Trust

2021-FILM

4.44%,

08/15/2036

(e) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.76%

COMM

2025-167G

Mortgage

Trust

5.50%,

08/10/2040

(e) 350

DROP

Mortgage

Trust

2021-FILE

4.94%,

10/15/2043

(e) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.26%

ELM

Trust

2024-ELM

5.41%,

06/10/2039

(e),(j)

850

852

GS

Mortgage

Securities

Trust

2020-GSA2

2.01%,

12/12/2053

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C24

4.46%,

11/15/2047

(j) 500

LBA

Trust

2024-7IND

5.12%,

10/15/2041

(e) 178

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

ORL

Trust

2024-GLKS

5.17%,

12/15/2039

(e) $

500

$

500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.49%

SMRT

2022-MINI

4.67%,

01/15/2039

(e) 350

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.00%

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C7

4.32%,

12/15/2058

$

13,999

Commercial

Services

-

.48

%

DP

World

Ltd/United

Arab

Emirates

6.85%,

07/02/2037

EquipmentShare.com

Inc

8.00%,

03/15/2033

(e) 299

8.63%,

05/15/2032

(e) 13

Garda

World

Security

Corp

6.00%,

06/01/2029

(e) 145

8.38%,

11/15/2032

(e) 236

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub

Inc

6.75%,

08/15/2032

(e) 140

Veritiv

Operating

Co

10.50%,

11/30/2030

(e) 160

Williams

Scotsman

Inc

4.63%,

08/15/2028

(e) 65

$

1,170

Computers

-

.07

%

Hewlett

Packard

Enterprise

Co

4.40%,

10/15/2030

4.50%,

03/23/2028

4.55%,

10/15/2029

5.00%,

10/15/2034

680

658

5.25%,

04/01/2033

5.60%,

10/15/2054

International

Business

Machines

Corp

5.70%,

02/10/2055

McAfee

Corp

7.38%,

02/15/2030

(e) 429

NCR

Atleos

Corp

9.50%,

04/01/2029

(e) 186

$

2,602

Consumer

Products

-

.06

%

Kronos

Acquisition

Holdings

Inc

8.25%,

06/30/2031

(e) 224

Credit

Card

Asset

Backed

Securities

-

.57

%

American

Express

Credit

Account

Master

Trust

4.87%,

05/15/2028

5.24%,

04/15/2031

955

984

WF

Card

Issuance

Trust

4.34%,

05/15/2030

$

1,386

Diversified

Financial

Services

-

.31

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

3.00%,

10/29/2028

4.13%,

02/28/2029

6.95%,

03/10/2055

(g) 345

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

Affiliated

Managers

Group

Inc

5.50%,

02/15/2036

Aircastle

Ltd

/

Aircastle

Ireland

DAC

5.00%,

09/15/2030

(e) 195

5.75%,

10/01/2031

(e) 355

Atlas

Warehouse

Lending

Co

LP

4.95%,

11/15/2030

(e) 330

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Avolon

Holdings

Funding

Ltd

4.85%,

04/01/2033

(e) $

$

Charles

Schwab

Corp/The

4.91%,

11/14/2036

(g) 420

Secured

Overnight

Financing

Rate

+

1.23%

5.85%,

05/19/2034

(g) 85

Secured

Overnight

Financing

Rate

+

2.50%

Citadel

Finance

LLC

4.75%,

02/14/2029

(e) 250

Citadel

Securities

Global

Holdings

LLC

5.50%,

06/18/2030

(e) 500

508

6.20%,

06/18/2035

(e) 500

512

Credit

Acceptance

Corp

6.63%,

03/15/2030

(e) 335

9.25%,

12/15/2028

(e) 70

Equitable

America

Global

Funding

4.95%,

06/09/2030

(e) 90

Freedom

Mortgage

Holdings

LLC

7.88%,

04/01/2033

(e) 40

9.13%,

05/15/2031

(e) 340

Global

Aircraft

Leasing

Co

Ltd

8.75%,

09/01/2027

(e) 454

ILFC

E-Capital

Trust

II

6.81%,

12/21/2065

(e) 100

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.00%

Jane

Street

Group

/

JSG

Finance

Inc

6.13%,

11/01/2032

(e) 519

513

6.75%,

05/01/2033

(e) 704

714

OneMain

Finance

Corp

3.50%,

01/15/2027

4.00%,

09/15/2030

6.63%,

01/15/2028

7.13%,

11/15/2031

7.50%,

05/15/2031

Rfna

LP

7.88%,

02/15/2030

(e) 60

Rocket

Cos

Inc

6.13%,

08/01/2030

(e) 95

SLM

Corp

3.13%,

11/02/2026

TrueNoord

Capital

DAC

8.75%,

03/01/2030

(e) 252

$

8,047

Electric

-

.38

%

Alliant

Energy

Finance

LLC

5.40%,

06/06/2027

(e) 535

539

5.95%,

03/30/2029

(e) 95

Berkshire

Hathaway

Energy

Co

4.60%,

05/01/2053

Black

Hills

Corp

4.55%,

01/31/2031

California

Buyer

Ltd

/

Atlantica

Sustainable

Infrastructure

PLC

6.38%,

02/15/2032

(e) 235

Clearway

Energy

Operating

LLC

4.75%,

03/15/2028

(e) 115

CMS

Energy

Corp

6.50%,

06/01/2055

(g) 425

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.96%

Commonwealth

Edison

Co

4.00%,

03/01/2049

Duke

Energy

Carolinas

LLC

3.75%,

06/01/2045

Duke

Energy

Florida

LLC

6.20%,

11/15/2053

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Evergy

Missouri

West

Inc

5.25%,

12/15/2035

(e) $

$

Exelon

Corp

5.60%,

03/15/2053

Indiana

Michigan

Power

Co

5.60%,

03/15/2056

Indianapolis

Power

&

Light

Co

5.70%,

04/01/2054

(e) 145

Interstate

Power

and

Light

Co

5.60%,

06/29/2035

590

604

Lightning

Power

LLC

7.25%,

08/15/2032

(e) 377

Louisville

Gas

and

Electric

Co

5.85%,

08/15/2055

NextEra

Energy

Capital

Holdings

Inc

5.45%,

03/15/2035

6.38%,

08/15/2055

(g) 250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.05%

6.70%,

09/01/2054

(g) 335

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.36%

NRG

Energy

Inc

5.41%,

10/15/2035

(e) 100

5.75%,

01/15/2034

(e) 162

6.00%,

01/15/2036

(e) 271

Pacific

Gas

and

Electric

Co

6.00%,

05/01/2056

Public

Service

Co

of

Colorado

5.25%,

04/01/2053

Puget

Sound

Energy

Inc

5.60%,

09/15/2055

Saavi

Energia

Sarl

8.88%,

02/10/2035

(e) 200

Southern

Co/The

5.70%,

03/15/2034

Southern

Power

Co

4.90%,

10/01/2035

Vistra

Corp

7.00%,

12/15/2026

(e),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.74%

VoltaGrid

LLC

7.38%,

11/01/2030

(e) 335

WEC

Energy

Group

Inc

5.63%,

05/15/2056

(g) 265

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.91%

Xcel

Energy

Inc

5.45%,

08/15/2033

730

745

5.75%,

12/03/2056

(g) 215

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.17%

$

8,206

Electrical

Components

&

Equipment

-

.02

%

WESCO

Distribution

Inc

7.25%,

06/15/2028

(e) 43

Engineering

&

Construction

-

.08

%

ATP

Tower

Holdings

/

Andean

Telecom

Partners

Chile

SpA

/

Andean

Tower

Partners

Colombia

SAS

7.88%,

02/03/2030

(e) 200

Entertainment

-

.50

%

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(a),(e)

6.50%,

02/15/2032

(e) 330

Cinemark

USA

Inc

5.25%,

07/15/2028

(e) 275

7.00%,

08/01/2032

(e) 95

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Entertainment

(continued)

Discovery

Global

Holdings

Inc

5.05%,

03/15/2042

$

$

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

7.13%,

02/15/2031

(e) 130

$

1,206

Environmental

Control

-

.12

%

Madison

IAQ

LLC

4.13%,

06/30/2028

(e) 90

Waste

Connections

Inc

4.80%,

07/15/2036

$

Food

-

.71

%

B&G

Foods

Inc

5.25%,

09/15/2027

8.00%,

09/15/2028

(e) 336

Chobani

Holdco

II

LLC

8.75%,

PIK

9.50%;

10/01/2029

(e),(j),(l)

Chobani

LLC

/

Chobani

Finance

Corp

Inc

7.63%,

07/01/2029

(e) 145

Fiesta

Purchaser

Inc

7.88%,

03/01/2031

(e) 254

JBS

NV/JBS

USA

Foods

Group

Holdings

Inc/JBS

USA

Food

Co

Holdings

4.38%,

02/02/2052

526

5.50%,

01/15/2036

5.63%,

03/10/2037

(e),(f)

5.95%,

04/20/2035

6.25%,

03/01/2056

6.38%,

02/25/2055

6.40%,

05/10/2057

(e),(f)

6.75%,

03/15/2034

Mars

Inc

5.20%,

03/01/2035

(e) 815

823

5.70%,

05/01/2055

(e) 398

$

4,162

Forest

Products

&

Paper

-

.02

%

Mercer

International

Inc

5.13%,

02/01/2029

12.88%,

10/01/2028

(a),(e)

$

Gas

-

.32

%

Boston

Gas

Co

5.84%,

01/10/2035

(e) 100

NiSource

Inc

6.95%,

11/30/2054

(g) 310

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.45%

Southern

California

Gas

Co

6.00%,

06/15/2055

$

789

Healthcare

-

Products

-

.33

%

Abbott

Laboratories

4.30%,

03/15/2033

4.65%,

03/15/2036

5.50%,

03/15/2056

$

803

Healthcare

-

Services

-

.63

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(e) 150

Centene

Corp

4.25%,

12/15/2027

Concentra

Health

Services

Inc

6.88%,

07/15/2032

(e) 203

Global

Medical

Response

Inc

7.38%,

10/01/2032

(e) 105

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

HCA

Inc

5.45%,

04/01/2031

$

$

LifePoint

Health

Inc

8.38%,

02/15/2032

(e) 369

11.00%,

10/15/2030

(e) 90

Tenet

Healthcare

Corp

6.13%,

06/15/2030

UnitedHealth

Group

Inc

4.75%,

05/15/2052

5.75%,

07/15/2064

$

1,543

Home

Builders

-

.19

%

Adams

Homes

Inc

9.25%,

10/15/2028

(e) 184

K

Hovnanian

Enterprises

Inc

8.38%,

10/01/2033

(e) 263

$

Home

Equity

Asset

Backed

Securities

-

.02

%

Saxon

Asset

Securities

Trust

2004-1

1.97%,

03/25/2035

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

Insurance

-

.74

%

American

International

Group

Inc

5.45%,

05/07/2035

Aon

North

America

Inc

5.75%,

03/01/2054

Arthur

J

Gallagher

&

Co

5.55%,

02/15/2055

Asurion

LLC/

Asurion

Co-Issuer

Inc

8.00%,

12/31/2032

(e) 35

8.38%,

02/01/2034

(e) 120

Corebridge

Financial

Inc

5.75%,

01/15/2034

(a) 105

Markel

Group

Inc

6.00%,

05/16/2054

Marsh

&

McLennan

Cos

Inc

6.25%,

11/01/2052

MetLife

Inc

5.00%,

07/15/2052

5.85%,

03/15/2056

(g) 245

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.82%

Northwestern

Mutual

Life

Insurance

Co/The

6.17%,

05/29/2055

(e) 140

Protective

Life

Corp

4.70%,

01/15/2031

(e) 180

Teachers

Insurance

&

Annuity

Association

of

America

4.27%,

05/15/2047

(e) 85

Willis

North

America

Inc

4.55%,

03/15/2031

$

1,810

Internet

-

.45

%

Amazon.com

Inc

5.80%,

03/13/2056

Beignet

Investor

LLC

6.58%,

05/30/2049

(e) 555

571

Cogent

Communications

Group

LLC

/

Cogent

Finance

Inc

7.00%,

06/15/2027

(e) 15

Meta

Platforms

Inc

4.45%,

08/15/2052

$

1,103

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Investment

Companies

-

.43

%

HA

Sustainable

Infrastructure

Capital

Inc

7.13%,

11/15/2056

(g) $

$

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.48%

8.00%,

06/01/2056

(g) 385

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.30%

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(e) 7

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

5.25%,

05/15/2027

10.00%,

11/15/2029

(e) 142

$

1,054

Iron

&

Steel

-

.12

%

Vale

Overseas

Ltd

6.00%,

02/25/2056

(e),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.43%

Leisure

Products

&

Services

-

.03

%

NCL

Finance

Ltd

6.13%,

03/15/2028

(e) 80

Lodging

-

.08

%

Wynn

Macau

Ltd

5.63%,

08/26/2028

(e) 200

Machinery

-

Diversified

-

.07

%

Maxim

Crane

Works

Holdings

Capital

LLC

11.50%,

09/01/2028

(e) 165

Media

-

.89

%

AMC

Networks

Inc

10.50%,

07/15/2032

(e) 88

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(e) 265

4.50%,

06/01/2033

(e) 26

5.38%,

06/01/2029

(e) 70

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.90%,

06/01/2052

Comcast

Corp

2.94%,

11/01/2056

Directv

Financing

LLC

8.88%,

02/01/2030

(e) 150

8.88%,

02/01/2030

(e) 114

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

10.00%,

02/15/2031

(e) 10

Discovery

Communications

LLC

4.13%,

05/15/2029

DISH

DBS

Corp

5.25%,

12/01/2026

(e) 76

DISH

Network

Corp

11.75%,

11/15/2027

(e) 245

iHeartCommunications

Inc

4.75%,

01/15/2028

(e) 101

7.75%,

08/15/2030

(e) 101

Paramount

Global

4.20%,

05/19/2032

(a) 190

Sinclair

Television

Group

Inc

8.13%,

02/15/2033

(e) 328

$

2,169

Metal

Fabrication

&

Hardware

-

.09

%

TMS

International

Corp/DE

6.25%,

04/15/2029

(e) 224

Mining

-

.56

%

Anglo

American

Capital

PLC

5.25%,

03/19/2036

(e) 220

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mining

(continued)

First

Quantum

Minerals

Ltd

6.38%,

02/15/2036

(e) $

$

8.00%,

03/01/2033

(e) 200

Glencore

Funding

LLC

4.90%,

07/01/2031

(e),(f)

5.19%,

04/01/2030

(e) 210

Taseko

Mines

Ltd

8.25%,

05/01/2030

(e) 205

$

1,363

Mortgage

Backed

Securities

-

.12

%

Fannie

Mae

REMICS

2.22%,

12/25/2049

(k) 1,886

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

2.27%,

08/25/2049

(k) 1,764

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.27%,

06/25/2050

(k) 1,005

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.32%,

02/25/2043

(k) 94

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

2.32%,

08/25/2043

(k) 522

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

2.32%,

12/25/2044

(k) 2,115

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

2.37%,

12/25/2042

(k) 1,189

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

2.37%,

01/25/2048

(k) 449

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

2.42%,

03/25/2048

(k) 581

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.09%

2.42%,

06/25/2048

(k) 647

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.09%

3.00%,

04/25/2027

(k) 7

—

3.00%,

09/25/2050

(k) 720

3.50%,

11/25/2027

(k) 5

—

Freddie

Mac

REMICS

2.37%,

06/25/2050

(k) 651

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

3.00%,

05/15/2027

(k) 4

—

3.00%,

10/15/2027

(k) 5

—

4.24%,

05/15/2049

657

647

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.56%

Ginnie

Mae

2.26%,

12/16/2043

(k) 669

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.94%

2.26%,

03/20/2050

(k) 1,318

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.94%

2.31%,

06/20/2046

(k) 234

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

2.31%,

11/20/2046

(k) 606

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Ginnie

Mae

(continued)

2.35%,

12/20/2043

(k) $

$

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.03%

2.41%,

10/20/2045

(k) 269

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.41%,

11/20/2047

(k) 200

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.46%,

06/20/2045

(k) 523

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.14%

2.50%,

12/20/2050

(k) 904

2.51%,

08/20/2050

(k) 726

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

11/20/2050

(k) 516

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

06/20/2051

(k) 1,444

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

08/20/2051

(k) 506

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.58%,

09/20/2050

(k) 586

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.25%

2.93%,

04/20/2041

(k) 411

(1.10)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.97%

3.00%,

07/20/2050

(k) 190

3.00%,

11/20/2050

(k) 439

3.00%,

11/20/2050

(k) 665

3.00%,

11/20/2050

(k) 852

3.50%,

10/20/2049

(k) 305

JP

Morgan

Mortgage

Trust

2024-1

6.00%,

06/25/2054

(e),(j)

JP

Morgan

Mortgage

Trust

2025-1

6.00%,

06/25/2055

(e),(j)

JP

Morgan

Mortgage

Trust

Series

2024-4

6.00%,

10/25/2054

(e),(j)

JP

Morgan

Mortgage

Trust

Series

2026-ACES1

4.89%,

04/25/2066

(e),(j)

539

536

Sequoia

Mortgage

Trust

2024-2

5.98%,

03/25/2054

(e),(j)

Sequoia

Mortgage

Trust

2024-3

6.00%,

04/25/2054

(e),(j)

$

5,148

Oil

&

Gas

-

.03

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

7.50%,

10/01/2029

(e) 200

Chord

Energy

Corp

6.00%,

10/01/2030

(e) 130

ConocoPhillips

Co

5.50%,

01/15/2055

Diamondback

Energy

Inc

5.75%,

04/18/2054

Ecopetrol

SA

8.88%,

01/13/2033

Matador

Resources

Co

6.00%,

04/15/2034

(e) 60

6.25%,

04/15/2033

(e) 513

513

Northern

Oil

&

Gas

Inc

7.88%,

10/15/2033

(e) 358

Permian

Resources

Operating

LLC

8.00%,

04/15/2027

(e) 75

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Petroleos

Mexicanos

7.69%,

01/23/2050

$

$

Sunoco

LP

5.88%,

03/15/2034

(e) 337

$

2,502

Oil

&

Gas

Services

-

.16

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(e) 110

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co-

Obligor

Inc

5.85%,

06/15/2056

Enerflex

Inc

6.88%,

01/15/2031

(e) 30

$

Other

Asset

Backed

Securities

-

.87

%

Bluepeak

ABS

Issuer

LLC

5.86%,

12/20/2055

(e) 225

6.49%,

12/20/2055

(e) 250

Consolidated

Communications

LLC/Fidium

Fiber

Finance

Holdco

LLC

5.08%,

03/20/2056

(e) 500

5.52%,

12/20/2055

(e) 700

704

6.00%,

05/20/2055

(e) 400

DataBank

Issuer

5.81%,

02/25/2056

(e) 412

Flexential

Issuer

LLC

6.00%,

03/25/2061

(e) 450

Hilton

Grand

Vacations

Trust

2024-3

4.98%,

08/27/2040

(e) 190

Hotwire

Funding

LLC

2.31%,

11/20/2051

(e) 600

591

Kinetic

ABS

Issuer

LLC

5.22%,

02/25/2056

(e) 1,500

1,496

Lightpath

Fiber

Issuer

LLC

5.60%,

03/25/2056

(e) 1,000

997

MetroNet

Infrastructure

Issuer

LLC

5.16%,

12/20/2055

(e) 1,375

1,369

5.27%,

04/20/2056

(e) 1,250

1,254

QTS

Issuer

ABS

II

LLC

5.85%,

01/05/2056

(e) 550

539

Summit

Issuer

LLC

5.21%,

11/20/2055

(e) 1,100

1,097

Switch

ABS

Issuer

LLC

5.12%,

10/25/2055

(e) 1,150

1,123

Verizon

Master

Trust

4.35%,

08/20/2032

(e) 525

527

Verizon

Master

Trust

Series

2025-2

4.94%,

01/20/2033

(e) 215

Zayo

Issuer

LLC

5.57%,

10/20/2055

(e) 1,125

1,126

5.72%,

10/20/2055

(e) 150

5.95%,

06/20/2055

(e) 650

661

$

14,271

Packaging

&

Containers

-

.68

%

Clydesdale

Acquisition

Holdings

Inc

6.75%,

04/15/2032

(e) 135

8.75%,

04/15/2030

(e) 60

LABL

Inc

0.00%,

11/01/2028

(e),(m)

0.00%,

11/01/2028

(e),(m)

LABL

Inc

DIP

10.39%,

11/30/2026

Mauser

Packaging

Solutions

Holding

Co

7.88%,

04/15/2030

(e) 303

9.25%,

04/15/2030

(e) 134

Packaging

Corp

of

America

5.20%,

08/15/2035

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Packaging

&

Containers

(continued)

Smurfit

Kappa

Treasury

ULC

5.20%,

01/15/2030

$

$

$

1,663

Pharmaceuticals

-

.14

%

1261229

BC

Ltd

10.00%,

04/15/2032

(e) 200

AbbVie

Inc

4.25%,

11/21/2049

4.75%,

03/15/2036

5.50%,

03/15/2064

5.55%,

03/15/2056

AdaptHealth

LLC

6.13%,

08/01/2028

(e) 105

CVS

Health

Corp

5.45%,

09/15/2035

Endo

Finance

Holdings

LP

8.50%,

04/15/2031

(e) 362

Jazz

Securities

DAC

4.38%,

01/15/2029

(e) 295

Novartis

Capital

Corp

5.70%,

03/18/2056

Zoetis

Inc

5.00%,

08/17/2035

555

551

$

2,772

Pipelines

-

.42

%

Cheniere

Energy

Inc

5.65%,

04/15/2034

DT

Midstream

Inc

4.13%,

06/15/2029

(e) 700

685

Energy

Transfer

LP

5.15%,

03/15/2045

5.95%,

05/15/2054

6.50%,

02/15/2056

(g) 529

523

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

Harvest

Midstream

I

LP

7.50%,

09/01/2028

(e) 35

Kinder

Morgan

Inc

5.40%,

02/01/2034

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp

8.13%,

02/15/2029

(e) 65

ONEOK

Inc

4.75%,

10/15/2031

5.70%,

11/01/2054

Transcontinental

Gas

Pipe

Line

Co

LLC

5.75%,

03/15/2056

(e) 70

Venture

Global

LNG

Inc

8.38%,

06/01/2031

(e) 40

9.00%,

09/30/2029

(e),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.44%

9.50%,

02/01/2029

(e) 348

$

3,443

REITs

-

.94

%

American

Homes

Rent

LP

3.38%,

07/15/2051

4.25%,

02/15/2028

4.95%,

06/15/2030

5.50%,

07/15/2034

Arbor

Realty

SR

Inc

7.88%,

07/15/2030

(e) 412

8.50%,

12/15/2028

(a),(e)

CFE

Fibra

E

5.88%,

09/23/2040

(e) 197

EF

Holdco

/

EF

Cayman

Hold

/

Ellington

Fin

REIT

Cayman/TRS

/

EF

Cayman

Non-MTM

7.38%,

09/30/2030

(e) 400

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(e) $

$

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(e) 85

7.00%,

02/01/2030

(e) 65

Uniti

Group

LP

/

Uniti

Fiber

Holdings

Inc

/

CSL

Capital

LLC

6.00%,

01/15/2030

(e) 251

XHR

LP

4.88%,

06/01/2029

(e) 135

6.63%,

05/15/2030

(e) 10

$

2,275

Retail

-

.76

%

Carvana

Co

9.00%,

06/01/2030

(e),(j)

El

Puerto

de

Liverpool

SAB

de

CV

5.75%,

02/10/2038

(e) 200

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(e) 369

Michaels

Cos

Inc/The

11.00%,

03/15/2034

(e) 145

Park

River

Holdings

Inc

8.00%,

03/15/2031

(e) 240

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

7.75%,

10/15/2029

(e) 323

Victra

Holdings

LLC

/

Victra

Finance

Corp

8.75%,

09/15/2029

(e) 279

$

1,854

Semiconductors

-

.94

%

Broadcom

Inc

3.42%,

04/15/2033

1,397

1,278

4.35%,

02/15/2030

4.55%,

02/15/2032

4.60%,

01/15/2033

5.05%,

07/12/2029

5.15%,

11/15/2031

5.20%,

07/15/2035

Intel

Corp

4.75%,

03/25/2050

Kioxia

Holdings

Corp

6.63%,

07/24/2033

(e) 400

Marvell

Technology

Inc

2.95%,

04/15/2031

4.75%,

07/15/2030

5.45%,

07/15/2035

5.95%,

09/15/2033

Micron

Technology

Inc

5.30%,

01/15/2031

5.80%,

01/15/2035

619

659

$

4,717

Shipbuilding

-

.04

%

Huntington

Ingalls

Industries

Inc

5.75%,

01/15/2035

Software

-

.94

%

Cloud

Software

Group

Inc

9.00%,

09/30/2029

(e) 60

Fidelity

National

Information

Services

Inc

4.45%,

03/10/2028

4.80%,

03/10/2031

OAK-Eagle

Acquireco

Inc

7.25%,

07/01/2033

(e),(f)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Oracle

Corp

3.95%,

03/25/2051

$

$

4.00%,

07/15/2046

4.90%,

02/06/2033

5.20%,

09/26/2035

5.38%,

09/27/2054

5.55%,

02/06/2053

5.95%,

09/26/2055

Synopsys

Inc

5.15%,

04/01/2035

5.70%,

04/01/2055

$

2,281

Sovereign

-

.47

%

Brazilian

Government

International

Bond

6.25%,

05/22/2036

Colombia

Government

International

Bond

6.13%,

01/21/2031

Istanbul

Metropolitan

Municipality

10.50%,

12/06/2028

(e) 200

Republic

of

South

Africa

Government

International

Bond

7.25%,

12/11/2055

(e) 200

Romanian

Government

International

Bond

5.75%,

07/04/2036

(e) 300

$

1,141

Telecommunications

-

.51

%

Altice

France

SA

6.50%,

04/15/2032

(e) 105

9.50%,

11/01/2029

(e) 322

AT&T

Inc

3.50%,

09/15/2053

3.55%,

09/15/2055

Digicel

International

Finance

Ltd

/

Difl

US

LLC

8.63%,

08/01/2032

(e) 400

EchoStar

Corp

10.75%,

11/30/2029

Level

Financing

Inc

8.50%,

01/15/2036

(e) 255

Telecom

Argentina

SA

9.50%,

07/18/2031

(e) 75

T-Mobile

USA

Inc

3.40%,

10/15/2052

4.63%,

01/15/2033

5.88%,

11/15/2055

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

8.63%,

06/15/2032

(e) 205

8.63%,

06/15/2032

(e) 50

Uniti

Services

LLC

7.50%,

10/15/2033

(e) 40

Verizon

Communications

Inc

5.88%,

11/30/2055

Viasat

Inc

6.50%,

07/15/2028

(e) 91

7.50%,

05/30/2031

(e) 268

Viavi

Solutions

Inc

3.75%,

10/01/2029

(e) 60

Zayo

Group

Holdings

Inc

5.75%,

PIK

0.50%;

03/09/2030

(e),(j),(l)

$

3,660

Transportation

-

.21

%

Burlington

Northern

Santa

Fe

LLC

4.45%,

01/15/2053

5.55%,

03/15/2056

Eletson

Holdings

Inc

-

Escrow

0.00%,

01/15/2022

(m),(n)

—

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Transportation

(continued)

Watco

Cos

LLC

/

Watco

Finance

Corp

7.13%,

08/01/2032

(e) $

$

$

502

Water

-

.05

%

Essential

Utilities

Inc

5.13%,

03/15/2036

TOTAL

BONDS

$

145,734

SENIOR

FLOATING

RATE

INTERESTS

-

.13

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

.08

%

TransDigm

Inc

;

Term

Loan

J

7.26%,

02/28/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Airlines

-

.10

%

AAdvantage

Loyalty

IP

Ltd

;

Term

Loan

B

5.92%,

04/20/2028

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

United

Airlines

Inc

;

Term

Loan

B

5.43%,

02/22/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

Chemicals

-

.05

%

Advancion

Holdings

LLC

;

Term

Loan

11.52%,

11/24/2028

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.75%

Consolidated

Energy

Finance

SA

;

Term

Loan

8.41%,

11/27/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.75%

Element

Solutions

Inc

;

Term

Loan

B3

5.42%,

12/18/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

Commercial

Services

-

.20

%

Aggreko

Holdings

Inc

;

Term

Loan

B

6.66%,

05/21/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Shift4

Payments

LLC

;

Term

Loan

B

5.65%,

06/30/2032

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Veritiv

Operating

Co

;

Term

Loan

B

7.70%,

11/30/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

$

Computers

-

.06

%

McAfee

Corp

;

Term

Loan

B1

6.67%,

03/01/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Consumer

Products

-

.07

%

Kronos

Acquisition

Holdings

Inc

;

Term

Loan

B

7.70%,

06/27/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Diversified

Financial

Services

-

.14

%

Jane

Street

Group

LLC

;

Term

Loan

B

5.96%,

12/15/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Jupiter

Borrower

Inc

;

Term

Loan

B

0.00%,

03/25/2033

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

$

Food

-

.10

%

Fiesta

Purchaser

Inc

;

Term

Loan

B

6.42%,

02/12/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Healthcare

-

Services

-

.03

%

LifePoint

Health

Inc

;

Term

Loan

B

7.42%,

05/16/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Insurance

-

.08

%

Asurion

LLC

;

Term

Loan

B4

9.05%,

01/20/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Internet

-

.10

%

iliad

SA

;

Term

Loan

6.42%,

02/01/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Lodging

-

.11

%

Fertitta

Entertainment

LLC/NV

;

Term

Loan

B

6.92%,

01/27/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Machinery

-

Diversified

-

.00

%

TK

Elevator

US

Newco

Inc

;

Term

Loan

B

6.38%,

04/30/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Media

-

.19

%

Directv

Financing

LLC

;

Tern

Loan

Extended

9.18%,

08/02/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Directv

Financing

LLC

;

Term

Loan

B

9.17%,

02/15/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

iHeartCommunications

Inc

;

Term

Loan

9.56%,

05/01/2029

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.78%

$

Mining

-

.06

%

Arsenal

AIC

Parent

LLC

;

Term

Loan

B

6.42%,

08/18/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Oil

&

Gas

Services

-

.05

%

Deep

Blue

Operating

I

LLC

;

Term

Loan

B

6.42%,

10/01/2032

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Packaging

&

Containers

-

.16

%

Clydesdale

Acquisition

Holdings

Inc

;

Term

Loan

B

6.92%,

03/26/2032

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Packaging

&

Containers

(continued)

LABL

Inc

;

Term

Loan

B

0.00%,

10/27/2028

(m) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

Mauser

Packaging

Solutions

Holding

Co

;

Term

Loan

B

7.16%,

04/15/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

Pharmaceuticals

-

.26

%

1261229

BC

Ltd

;

Term

Loan

B

9.92%,

10/08/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.25%

Endo

Finance

Holdings

LP

;

Term

Loan

B

7.42%,

04/23/2031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Jazz

Financing

Lux

Sarl

;

Term

Loan

B2

5.92%,

05/05/2028

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

627

Retail

-

.11

%

IRB

Holding

Corp

;

Term

Loan

B

6.18%,

12/15/2030

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Michaels

Cos

Inc/The

;

Term

Loan

B

8.67%,

02/18/2033

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

$

Software

-

.07

%

Cloud

Software

Group

Inc

;

Term

Loan

B1

6.95%,

08/13/2032

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

OAK-Eagle

Acquireco

Inc

;

Term

Loan

B

0.00%,

03/24/2033

(o) 10

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

Telecommunications

-

.11

%

Zayo

Group

Holdings

Inc

;

PIK

Term

Loan

7.87%,

PIK

0.50%;

03/11/2030

(l) 272

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

5,172

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.74

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.59

%

3.00%,

11/01/2042

$

$

3.00%,

12/01/2046

3.50%,

10/01/2041

3.50%,

04/01/2042

3.50%,

10/01/2045

3.50%,

03/01/2048

4.00%,

02/01/2045

4.00%,

02/01/2046

4.00%,

02/01/2046

4.00%,

06/01/2046

4.00%,

04/01/2047

4.00%,

11/01/2047

4.50%,

10/01/2041

4.50%,

12/01/2043

5.00%,

06/01/2031

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

5.00%,

10/01/2035

$

$

5.00%,

06/01/2041

6.00%,

06/01/2032

6.00%,

10/01/2032

6.00%,

01/01/2038

6.50%,

05/01/2029

6.50%,

02/01/2032

6.50%,

05/01/2032

7.00%,

12/01/2029

7.00%,

06/01/2030

7.00%,

12/01/2031

7.50%,

03/01/2031

8.00%,

09/01/2030

$

1,436

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.04

%

2.00%,

01/01/2051

824

686

2.00%,

02/01/2051

2,955

2,443

2.00%,

02/01/2051

1,366

1,111

2.00%,

11/01/2051

945

775

2.00%,

12/01/2051

2.00%,

12/01/2051

1,454

1,191

2.00%,

05/01/2052

2.50%,

11/01/2050

2.50%,

02/01/2051

1,107

954

2.50%,

07/01/2051

838

719

2.50%,

11/01/2051

503

2.50%,

12/01/2051

984

847

2.50%,

01/01/2052

690

584

2.50%,

04/01/2052

1,202

1,027

2.50%,

10/01/2053

3.00%,

03/01/2034

3.00%,

03/01/2052

813

726

3.00%,

04/01/2052

1,026

916

3.00%,

06/01/2052

3.00%,

07/01/2052

3.50%,

04/01/2030

3.50%,

08/01/2034

3.50%,

12/01/2040

3.50%,

12/01/2041

3.50%,

03/01/2042

3.50%,

04/01/2042

3.50%,

11/01/2042

3.50%,

05/01/2046

3.50%,

06/01/2051

4.00%,

05/01/2041

4.00%,

10/01/2041

4.00%,

10/01/2041

4.00%,

11/01/2041

4.00%,

04/01/2042

4.00%,

02/01/2044

4.00%,

09/01/2044

4.00%,

09/01/2045

4.00%,

12/01/2045

4.00%,

01/01/2047

4.00%,

10/01/2048

4.00%,

10/01/2052

4.00%,

03/01/2053

1,073

1,020

4.00%,

07/01/2053

871

825

4.50%,

08/01/2040

4.50%,

11/01/2040

4.50%,

08/01/2041

4.50%,

09/01/2041

4.50%,

06/01/2046

4.50%,

05/01/2047

4.50%,

05/01/2047

4.50%,

05/01/2049

4.50%,

09/01/2052

1,441

1,398

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.50%,

10/01/2052

$

1,421

$

1,378

4.50%,

07/01/2053

625

606

4.50%,

08/01/2053

4.50%,

01/01/2054

5.00%,

10/01/2041

5.00%,

06/01/2048

5.00%,

07/01/2052

5.00%,

09/01/2052

5.00%,

06/01/2053

703

700

5.00%,

08/01/2053

784

778

5.00%,

11/01/2054

605

600

5.00%,

11/01/2054

5.00%,

11/01/2054

686

683

5.00%,

12/01/2054

866

862

5.00%,

02/01/2055

5.00%,

04/01/2056

(p) 1,475

1,455

5.50%,

07/01/2033

5.50%,

08/01/2036

5.50%,

05/01/2040

5.50%,

02/01/2053

927

943

5.50%,

07/01/2053

5.50%,

11/01/2053

571

580

5.50%,

11/01/2053

563

574

5.50%,

03/01/2054

5.50%,

02/01/2055

798

811

5.50%,

04/01/2055

508

5.50%,

04/01/2055

5.50%,

06/01/2055

657

668

5.50%,

06/01/2055

5.50%,

08/01/2055

602

612

5.50%,

08/01/2055

5.50%,

08/01/2055

507

6.00%,

07/01/2035

6.00%,

02/01/2037

6.00%,

02/01/2038

6.00%,

01/01/2053

6.00%,

04/01/2054

6.00%,

05/01/2054

6.00%,

06/01/2054

6.00%,

09/01/2054

6.00%,

09/01/2054

6.00%,

11/01/2054

664

687

6.50%,

03/01/2032

6.50%,

07/01/2037

6.50%,

02/01/2038

6.50%,

09/01/2038

6.50%,

05/01/2054

$

39,000

Government

National

Mortgage

Association

(GNMA)

-

.62

%

2.00%,

07/20/2051

936

774

2.00%,

08/20/2051

2.00%,

04/20/2052

2.50%,

06/20/2050

2.50%,

04/20/2051

2.50%,

07/20/2051

2.50%,

09/20/2051

609

524

3.00%,

07/20/2044

3.00%,

01/20/2046

3.00%,

12/20/2046

3.00%,

09/20/2051

3.50%,

04/20/2046

4.00%,

06/20/2046

4.00%,

04/20/2052

4.00%,

10/20/2052

4.00%,

12/20/2052

762

721

4.50%,

09/15/2039

4.50%,

11/15/2040

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

4.50%,

08/20/2052

$

658

$

641

4.50%,

09/20/2052

4.50%,

11/20/2054

1,904

1,843

4.50%,

04/20/2056

(p) 650

628

5.00%,

05/20/2053

5.00%,

09/20/2053

5.00%,

10/20/2053

555

552

5.00%,

02/20/2054

5.00%,

04/20/2054

1,119

1,113

5.00%,

04/20/2056

(p) 2,135

2,114

5.50%,

12/20/2033

5.50%,

05/20/2035

5.50%,

12/20/2048

5.50%,

06/20/2053

733

743

5.50%,

11/20/2053

5.50%,

04/20/2056

(p) 1,395

1,404

6.00%,

01/20/2029

6.00%,

12/15/2033

6.00%,

12/20/2036

6.50%,

12/15/2032

8.00%,

12/15/2030

$

16,088

U.S.

Treasury

-

.01

%

3.00%,

05/15/2045

1,140

868

3.00%,

11/15/2045

(q) 2,750

2,079

3.38%,

02/29/2028

875

868

3.38%,

09/15/2028

1,000

990

3.63%,

08/31/2027

2,520

2,513

4.13%,

02/15/2036

800

787

4.50%,

11/15/2033

2,000

2,041

4.75%,

02/15/2037

1,435

1,486

4.88%,

08/15/2045

(q) 3,000

2,990

$

14,622

U.S.

Treasury

Bill

-

.48

%

3.60%,

04/23/2026

(r) 3,595

3,587

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

74,733

Total

Investments

$

260,473

Other

Assets

and

Liabilities

- (7.15)%

(17,376)

TOTAL

NET

ASSETS

-

100.00%

$

243,097

(a) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$12,281

or

5.05%

of

net

assets.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$12,458

or

5.12%

of

net

assets.

(d) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$70,200

or

28.88%

of

net

assets.

(f) Security

purchased

on

a

when-issued

basis.

(g) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(h) Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(i) Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$512

or

0.21%

of

net

assets.

Schedule

of

Investments

Core

Plus

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

(j) Certain

variable

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.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(k) Security

is

an

Interest

Only

Strip.

(l) Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(m) Non-income

producing

security

(n) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(o) This

Senior

Floating

Rate

Note

will

settle

after

March

31,

2026,

at

which

time

the

interest

rate

will

be

determined.

(p) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(q) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,873

or

0.77%

of

net

assets.

(r) Rate

shown

is

the

discount

rate

of

the

original

purchase.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

7,561

$

82,927

$

74,635

$

15,853

$

7,561

$

82,927

$

74,635

$

15,853

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury

Note;

June

2026

Short

$

5,441

$

US

Year

Treasury

Ultra

Note;

June

2026

Short

1,816

US

Year

Treasury

Note;

June

2026

Long

26,968

(198)

US

Year

Treasury Note;

June

2026

Long

17,633

(201)

US

Long

Bond;

June

2026

Long

5,124

(163)

US

Ultra

Bond;

June

2026

Long

5,012

(152)

Total

$

(583)

Amounts

in

thousands

except

contracts.

Exchange

Cleared

Credit

Default

Swaps

Sell

Protection

Reference

Entity

Implied

Credit

Spread

as

of

March

31,

2026

(a) (Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

(b) Upfront

Premiums

Paid/

(Received)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

(c) CDX.NA.HY.46

N/A

5.00%

Quarterly

06/20/2031

$

2,320

$

$

$

Total

$

$

$

Amounts

in

thousands.

(a) Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

fair

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

(b) The

maximum

potential

payment

amount

that

the

seller

of

credit

protection

could

be

required

to

make

if

a

credit

event

occurs

is

$2,320.

(c) The

price

and

resulting

fair

value

for

credit

default

swap

agreements

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

of

an

expected

liability

(or

profit)

for

the

credit

default

swap

as

of

the

period

end.

Increasing

fair

values

of

the

swap,

in

absolute

terms

when

compared

to

the

notional

amount

of

the

swap,

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Schedule

of

Investments

Diversified

Balanced

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.10

%

International

Equity

Index

Fund

(a) 2,310,217

$

32,505

MidCap

S&P

Index

Fund

(a) 847,322

18,743

SmallCap

S&P

600

Index

Fund

(a) 743,789

18,914

$

70,162

Principal

Variable

Contracts

Funds,

Inc. Class

-

.93

%

Bond

Market

Index

Account

(a) 24,750,982

234,392

LargeCap

S&P

500

Index

Account

(a) 6,894,393

160,157

$

394,549

TOTAL

INVESTMENT

COMPANIES

$

464,711

Total

Investments

$

464,711

Other

Assets

and

Liabilities

- (0.03)%

(117)

TOTAL

NET

ASSETS

-

100.00%

$

464,594

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

252,250

$

2,237

$

20,423

$

234,392

International

Equity

Index

Fund

35,634

1,383

5,108

32,505

LargeCap

S&P

500

Index

Account

176,408

3,011

11,804

160,157

MidCap

S&P

Index

Fund

19,832

700

2,346

18,743

SmallCap

S&P

600

Index

Fund

19,548

706

2,083

18,914

$

503,672

$

8,037

$

41,764

$

464,711

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

(953)

$

—

$

1,281

International

Equity

Index

Fund

—

1,492

—

(896)

LargeCap

S&P

500

Index

Account

—

—

(7,740)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

681

$

—

$

1,139

$

—

$

(6,373)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Balanced

Adaptive

Allocation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.11

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.82

%

iShares

Core

S&P

500

ETF

61,184

$

39,966

Money

Market

Funds

-

.00

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

—

Principal

Funds,

Inc.

Class

-

.09

%

International

Equity

Index

Fund

(a) 1,002,137

14,100

MidCap

S&P

Index

Fund

(a) 367,555

8,130

SmallCap

S&P

600

Index

Fund

(a) 322,638

8,205

$

30,435

Principal

Variable

Contracts

Funds,

Inc. Class

-

.20

%

Bond

Market

Index

Account

(a) 10,736,305

101,673

LargeCap

S&P

500

Index

Account

(a) 1,281,793

29,776

$

131,449

TOTAL

INVESTMENT

COMPANIES

$

201,850

Total

Investments

$

201,850

Other

Assets

and

Liabilities

- (0.11)%

(229)

TOTAL

NET

ASSETS

-

100.00%

$

201,621

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

108,658

$

1,429

$

8,538

$

101,673

International

Equity

Index

Fund

15,371

654

2,176

14,100

LargeCap

S&P

500

Index

Account

32,567

680

2,090

29,776

MidCap

S&P

Index

Fund

8,543

986

8,130

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

928

928

—

SmallCap

S&P

600

Index

Fund

8,420

870

8,205

$

173,559

$

4,363

$

15,588

$

161,884

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

$

—

$

(32)

International

Equity

Index

Fund

—

—

(189)

LargeCap

S&P

500

Index

Account

—

—

(1,441)

MidCap

S&P

Index

Fund

—

—

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

—

$

722

$

—

$

(1,172)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Balanced

Strategic

Allocation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.06

%

International

Equity

Index

Fund

(a) 404,964

$

5,698

MidCap

S&P

Index

Fund

(a) 148,584

3,286

SmallCap

S&P

600

Index

Fund

(a) 130,428

3,317

$

12,301

Principal

Variable

Contracts

Funds,

Inc. Class

-

.97

%

Bond

Market

Index

Account

(a) 4,338,691

41,088

LargeCap

S&P

500

Index

Account

(a) 1,218,465

28,305

$

69,393

TOTAL

INVESTMENT

COMPANIES

$

81,694

Total

Investments

$

81,694

Other

Assets

and

Liabilities

- (0.03)%

(27)

TOTAL

NET

ASSETS

-

100.00%

$

81,667

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

43,914

$

543

$

3,423

$

41,088

International

Equity

Index

Fund

6,204

879

5,698

LargeCap

S&P

500

Index

Account

—

28,756

28,305

LargeCap

S&P

500

Managed

Volatility

Index

Account

30,669

19,126

30,315

—

MidCap

S&P

Index

Fund

3,453

3,286

SmallCap

S&P

600

Index

Fund

3,403

3,317

$

87,643

$

48,972

$

35,551

$

81,694

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

(239)

$

—

$

International

Equity

Index

Fund

—

—

(147)

LargeCap

S&P

500

Index

Account

—

(2)

—

(272)

LargeCap

S&P

500

Managed

Volatility

Index

Account

595

(10,743)

17,867

(8,737)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

595

$

(10,695)

$

17,867

$

(8,675)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.18

%

International

Equity

Index

Fund

(a) 12,091,560

$

170,128

MidCap

S&P

Index

Fund

(a) 3,880,207

85,830

SmallCap

S&P

600

Index

Fund

(a) 3,405,953

86,614

$

342,572

Principal

Variable

Contracts

Funds,

Inc. Class

-

.85

%

Bond

Market

Index

Account

(a) 63,472,059

601,080

LargeCap

S&P

500

Index

Account

(a) 32,477,532

754,453

$

1,355,533

TOTAL

INVESTMENT

COMPANIES

$

1,698,105

Total

Investments

$

1,698,105

Other

Assets

and

Liabilities

- (0.03)%

(452)

TOTAL

NET

ASSETS

-

100.00%

$

1,697,653

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

649,922

$

7,866

$

57,565

$

601,080

International

Equity

Index

Fund

187,376

6,432

26,857

170,128

LargeCap

S&P

500

Index

Account

834,843

13,311

58,632

754,453

MidCap

S&P

Index

Fund

91,244

2,801

10,785

85,830

SmallCap

S&P

600

Index

Fund

89,932

2,826

9,570

86,614

$

1,853,317

$

33,236

$

163,409

$

1,698,105

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

(3,415)

$

—

$

4,272

International

Equity

Index

Fund

—

8,340

—

(5,163)

LargeCap

S&P

500

Index

Account

—

1,541

—

(36,610)

MidCap

S&P

Index

Fund

—

1,408

—

1,162

SmallCap

S&P

600

Index

Fund

—

—

2,977

$

—

$

8,323

$

—

$

(33,362)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Adaptive

Allocation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.11

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.86

%

iShares

Core

S&P

500

ETF

419,140

$

273,786

Money

Market

Funds

-

.00

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

13,183

Principal

Funds,

Inc.

Class

-

.17

%

International

Equity

Index

Fund

(a) 9,817,188

138,128

MidCap

S&P

Index

Fund

(a) 3,150,136

69,681

SmallCap

S&P

600

Index

Fund

(a) 2,765,010

70,314

$

278,123

Principal

Variable

Contracts

Funds,

Inc. Class

-

.08

%

Bond

Market

Index

Account

(a) 51,527,302

487,964

LargeCap

S&P

500

Index

Account

(a) 14,658,334

340,513

$

828,477

TOTAL

INVESTMENT

COMPANIES

$

1,380,399

Total

Investments

$

1,380,399

Other

Assets

and

Liabilities

- (0.11)%

(1,533)

TOTAL

NET

ASSETS

-

100.00%

$

1,378,866

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

509,763

$

6,327

$

28,730

$

487,964

International

Equity

Index

Fund

146,672

5,195

16,053

138,128

LargeCap

S&P

500

Index

Account

363,768

6,128

13,613

340,513

MidCap

S&P

Index

Fund

71,566

2,263

6,099

69,681

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

5,015

5,004

SmallCap

S&P

600

Index

Fund

70,541

2,283

5,142

70,314

$

1,162,312

$

27,211

$

74,641

$

1,106,613

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

$

—

$

563

International

Equity

Index

Fund

—

3,212

—

(898)

LargeCap

S&P

500

Index

Account

—

—

(16,060)

MidCap

S&P

Index

Fund

—

—

1,762

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

SmallCap

S&P

600

Index

Fund

—

—

2,534

$

$

3,830

$

—

$

(12,099)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Strategic

Allocation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.15

%

International

Equity

Index

Fund

(a) 1,305,672

$

18,371

MidCap

S&P

Index

Fund

(a) 418,970

9,267

SmallCap

S&P

600

Index

Fund

(a) 367,750

9,352

$

36,990

Principal

Variable

Contracts

Funds,

Inc. Class

-

.88

%

Bond

Market

Index

Account

(a) 6,850,244

64,872

LargeCap

S&P

500

Index

Account

(a) 3,519,422

81,756

$

146,628

TOTAL

INVESTMENT

COMPANIES

$

183,618

Total

Investments

$

183,618

Other

Assets

and

Liabilities

- (0.03)%

(54)

TOTAL

NET

ASSETS

-

100.00%

$

183,564

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

68,852

$

788

$

4,854

$

64,872

International

Equity

Index

Fund

19,849

701

2,505

18,371

LargeCap

S&P

500

Index

Account

—

82,823

81,756

LargeCap

S&P

500

Managed

Volatility

Index

Account

88,319

54,684

86,890

—

MidCap

S&P

Index

Fund

9,667

975

9,267

SmallCap

S&P

600

Index

Fund

9,528

843

9,352

$

196,215

$

139,610

$

96,345

$

183,618

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

(314)

$

—

$

International

Equity

Index

Fund

—

734

—

(408)

LargeCap

S&P

500

Index

Account

—

(3)

—

(786)

LargeCap

S&P

500

Managed

Volatility

Index

Account

1,715

(30,961)

51,461

(25,152)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

1,715

$

(30,459)

$

51,461

$

(25,403)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.05

%

International

Equity

Index

Fund

(a) 479,505

$

6,746

MidCap

S&P

Index

Fund

(a) 230,784

5,105

SmallCap

S&P

600

Index

Fund

(a) 202,581

5,152

$

17,003

Principal

Variable

Contracts

Funds,

Inc. Class

-

.98

%

Bond

Market

Index

Account

(a) 11,684,182

110,649

LargeCap

S&P

500

Index

Account

(a) 1,788,700

41,552

$

152,201

TOTAL

INVESTMENT

COMPANIES

$

169,204

Total

Investments

$

169,204

Other

Assets

and

Liabilities

- (0.03)%

(45)

TOTAL

NET

ASSETS

-

100.00%

$

169,159

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

117,255

$

1,421

$

8,175

$

110,649

International

Equity

Index

Fund

7,281

1,016

6,746

LargeCap

S&P

500

Index

Account

45,055

1,181

2,772

41,552

MidCap

S&P

Index

Fund

5,318

608

5,105

SmallCap

S&P

600

Index

Fund

5,242

537

5,152

$

180,151

$

3,454

$

13,108

$

169,204

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

—

$

(506)

$

—

$

654

International

Equity

Index

Fund

—

—

(162)

LargeCap

S&P

500

Index

Account

—

—

(1,988)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

—

$

(81)

$

—

$

(1,212)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

International

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.77

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.77

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

289,184

$

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b),(c)

4,183,836

4,184

$

4,473

TOTAL

INVESTMENT

COMPANIES

$

4,473

COMMON

STOCKS

-

.93

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.68

%

Airbus

SE

8,576

$

1,622

BAE

Systems

PLC

170,743

5,006

CSG

NV

(d) 5,346

$

6,772

Agriculture

-

.43

%

British

American

Tobacco

PLC

62,098

3,605

Airlines

-

.01

%

Ryanair

Holdings

PLC

90,377

2,544

Apparel

-

.79

%

Gildan

Activewear

Inc

26,000

1,448

Kering

SA

4,072

1,236

PRADA

SpA

107,600

513

Samsonite

Group

SA

(e) 709,500

1,320

$

4,517

Automobile

Manufacturers

-

.24

%

Daimler

Truck

Holding

AG

65,716

3,236

Toyota

Motor

Corp

115,800

2,407

$

5,643

Banks

-

.25

%

AIB

Group

PLC

385,990

4,121

Credicorp

Ltd

9,883

3,352

DBS

Group

Holdings

Ltd

71,400

3,177

Erste

Group

Bank

AG

31,858

3,441

FinecoBank

Banca

Fineco

SpA

48,446

1,078

HDFC

Bank

Ltd

ADR

85,152

2,119

National

Bank

of

Greece

SA

191,117

2,952

NatWest

Group

PLC

337,783

2,502

Nordea

Bank

Abp

45,952

788

Piraeus

Bank

SA

(d) 164,035

1,348

PT

Bank

Central

Asia

Tbk

1,798,000

695

Societe

Generale

SA

23,546

1,719

Swedbank

AB

20,408

696

UniCredit

SpA

40,503

2,906

$

30,894

Beverages

-

.69

%

Arca

Continental

SAB

de

CV

91,600

1,055

Carlsberg

AS

5,491

686

$

1,741

Biotechnology

-

.29

%

Argenx

SE

(d) 4,470

3,244

Building

Materials

-

.71

%

CRH

PLC

29,919

3,130

Mitsubishi

Electric

Corp

113,100

3,699

$

6,829

Commercial

Services

-

.16

%

Elis

SA

66,639

1,887

Localiza

Rent

a

Car

SA

113,134

1,028

Sunbelt

Rentals

Holdings

Inc

39,802

2,539

$

5,454

Computers

-

.71

%

Fujitsu

Ltd

210,900

4,313

Cosmetics

&

Personal

Care

-

.68

%

Haleon

PLC

932,868

4,617

L'Oreal

SA

3,134

1,280

Unilever

PLC

15,908

873

$

6,770

Distribution

&

Wholesale

-

.07

%

Rexel

SA

68,030

2,696

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

.32

%

Banco

BTG

Pactual

SA

72,900

$

796

Electronics

-

.10

%

Halma

PLC

19,000

970

Hoya

Corp

24,996

4,333

$

5,303

Engineering

&

Construction

-

.66

%

Kajima

Corp

48,200

1,839

Obayashi

Corp

119,300

2,889

Stantec

Inc

22,800

1,971

$

6,699

Entertainment

-

.27

%

Entain

PLC

299,175

2,247

Universal

Music

Group

NV

49,433

960

$

3,207

Food

-

.68

%

Danone

SA

11,570

924

Toyo

Suisan

Kaisha

Ltd

11,200

788

$

1,712

Forest

Products

&

Paper

-

.10

%

Suzano

SA

277,400

2,780

Healthcare

-

Products

-

.53

%

Alcon

AG

18,368

1,388

Medtronic

PLC

13,537

1,173

Smith

&

Nephew

PLC

82,737

1,311

$

3,872

Healthcare

-

Services

-

.65

%

ICON

PLC

(d) 14,875

1,646

Insurance

-

.32

%

AIA

Group

Ltd

545,800

6,065

ASR

Nederland

NV

12,972

893

Fairfax

Financial

Holdings

Ltd

1,000

1,704

Hannover

Rueck

SE

7,685

2,416

Sompo

Holdings

Inc

100,800

3,924

Tokio

Marine

Holdings

Inc

74,100

3,478

$

18,480

Internet

-

.89

%

Scout24

SE

(e) 15,095

1,165

Spotify

Technology

SA

(d) 6,120

2,968

Tencent

Holdings

Ltd

115,500

7,285

Trip.com

Group

Ltd

(d) 50,700

2,505

Wix.com

Ltd

(d) 10,291

927

$

14,850

Investment

Companies

-

.28

%

Rosebank

Industries

PLC

(d) 166,282

696

Iron

&

Steel

-

.66

%

Vale

SA

104,600

1,665

Lodging

-

.47

%

Galaxy

Entertainment

Group

Ltd

440,000

1,989

InterContinental

Hotels

Group

PLC

13,085

1,725

$

3,714

Machinery

-

Construction

&

Mining

-

.09

%

Komatsu

Ltd

49,100

1,955

Weir

Group

PLC/The

21,335

800

$

2,755

Machinery

-

Diversified

-

.59

%

Atlas

Copco

AB

-

A

Shares

124,143

2,191

Keyence

Corp

5,100

1,815

$

4,006

Metal

Fabrication

&

Hardware

-

.46

%

APL

Apollo

Tubes

Ltd

56,597

1,169

Mining

-

.42

%

Agnico

Eagle

Mines

Ltd

1,800

Impala

Platinum

Holdings

Ltd

129,030

1,835

Sandfire

Resources

Ltd

(d) 155,796

1,788

Teck

Resources

Ltd

89,347

4,631

$

8,619

Schedule

of

Investments

Diversified

International

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

-

.59

%

ARC

Resources

Ltd

101,600

$

2,114

BP

PLC

195,871

1,533

Canadian

Natural

Resources

Ltd

27,800

1,356

Suncor

Energy

Inc

99,600

6,588

$

11,591

Packaging

&

Containers

-

.64

%

Toyo

Seikan

Group

Holdings

Ltd

70,900

1,613

Pharmaceuticals

-

.78

%

Ascendis

Pharma

A/S

ADR

(d) 5,349

1,224

AstraZeneca

PLC

33,181

6,488

Sanofi

SA

13,267

1,281

Zealand

Pharma

A/S

(d) 11,932

556

$

9,549

Pipelines

-

.77

%

Gaztransport

Et

Technigaz

SA

14,611

3,437

Gibson

Energy

Inc

(f) 48,200

1,028

$

4,465

Private

Equity

-

.53

%

3i

Group

PLC

41,367

1,348

Retail

-

.92

%

Cie

Financiere

Richemont

SA

10,232

1,807

Industria

de

Diseno

Textil

SA

21,669

1,261

Yum

China

Holdings

Inc

86,476

4,295

$

7,363

Semiconductors

-

.15

%

ASML

Holding

NV

6,026

8,013

Samsung

Electronics

Co

Ltd

70,369

8,231

Taiwan

Semiconductor

Manufacturing

Co

Ltd

249,140

14,409

$

30,653

Software

-

.00

%

Nemetschek

SE

15,314

1,146

Nice

Ltd

ADR

(d),(f)

20,404

2,250

Sage

Group

PLC/The

147,235

1,650

$

5,046

Telecommunications

-

.23

%

Deutsche

Telekom

AG

172,850

6,452

Zegona

Communications

plc

77,270

1,700

$

8,152

Toys,

Games

&

Hobbies

-

.12

%

Nintendo

Co

Ltd

49,400

2,820

TOTAL

COMMON

STOCKS

$

249,591

PREFERRED

STOCKS

-

.02

%

Shares

Held

Value

(000's)

Commercial

Services

-

.02

%

Localiza

Rent

a

Car

SA

0.00%

(d) 6,724

$

TOTAL

PREFERRED

STOCKS

$

Total

Investments

$

254,122

Other

Assets

and

Liabilities

- (0.72)%

(1,824)

TOTAL

NET

ASSETS

-

100.00%

$

252,298

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,109

or

1.23%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,485

or

0.98%

of

net

assets.

(f) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,042

or

1.21%

of

net

assets.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

4,034

$

39,257

$

39,107

$

4,184

$

4,034

$

39,257

$

39,107

$

4,184

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Equity

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.59

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.59

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

$

—

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

11,237,601

11,238

$

11,238

TOTAL

INVESTMENT

COMPANIES

$

11,238

COMMON

STOCKS

-

.55

%

Shares

Held

Value

(000's)

Advertising

-

.55

%

Omnicom

Group

Inc

66,824

$

5,032

Publicis

Groupe

SA

ADR

286,512

5,934

$

10,966

Automobile

Manufacturers

-

.66

%

Cummins

Inc

30,962

16,658

PACCAR

Inc

140,562

16,235

$

32,893

Banks

-

.92

%

Bank

of

America

Corp

322,594

15,726

Citigroup

Inc

30,277

3,434

JPMorgan

Chase

&

Co

77,977

22,938

Morgan

Stanley

107,296

17,658

PNC

Financial

Services

Group

Inc/The

83,212

17,315

$

77,071

Beverages

-

.50

%

Coca-Cola

Co/The

232,091

17,651

Biotechnology

-

.22

%

Corteva

Inc

187,410

15,688

Building

Materials

-

.82

%

Carrier

Global

Corp

57,305

3,227

Trane

Technologies

PLC

40,008

16,673

$

19,900

Chemicals

-

.90

%

Air

Products

and

Chemicals

Inc

21,755

6,320

Computers

-

.28

%

Apple

Inc

63,441

16,101

Cosmetics

&

Personal

Care

-

.68

%

Procter

&

Gamble

Co/The

82,167

11,868

Diversified

Financial

Services

-

.02

%

Blackrock

Inc

14,840

14,272

Nasdaq

Inc

83,228

7,065

$

21,337

Electric

-

.86

%

NextEra

Energy

Inc

146,027

13,563

Sempra

59,509

5,782

WEC

Energy

Group

Inc

61,843

7,160

Xcel

Energy

Inc

97,911

7,778

$

34,283

Healthcare

-

Products

-

.69

%

Abbott

Laboratories

109,690

11,262

STERIS

PLC

34,730

7,680

$

18,942

Healthcare

-

Services

-

.47

%

HCA

Healthcare

Inc

25,054

11,856

UnitedHealth

Group

Inc

20,492

5,545

$

17,401

Home

Builders

-

.50

%

DR

Horton

Inc

128,395

17,618

Insurance

-

.65

%

Chubb

Ltd

56,925

18,554

Fidelity

National

Financial

Inc

154,451

7,163

$

25,717

Internet

-

.57

%

Alphabet

Inc

-

A

Shares

87,486

25,157

Iron

&

Steel

-

.46

%

Reliance

Inc

33,958

10,320

Lodging

-

.37

%

Hilton

Worldwide

Holdings

Inc

54,892

16,692

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Machinery

-

Diversified

-

.17

%

Deere

&

Co

27,209

$

15,327

Media

-

.20

%

Comcast

Corp

-

Class

A

48,242

1,385

Miscellaneous

Manufacturers

-

.38

%

Parker-Hannifin

Corp

18,777

16,810

Oil

&

Gas

-

.48

%

Chevron

Corp

46,995

9,723

EOG

Resources

Inc

94,216

13,621

Marathon

Petroleum

Corp

62,775

15,328

$

38,672

Pharmaceuticals

-

.46

%

AstraZeneca

PLC

39,412

7,773

Eli

Lilly

&

Co

6,607

6,077

Merck

&

Co

Inc

130,358

15,681

Novartis

AG

ADR

84,279

12,874

Roche

Holding

AG

ADR

64,200

3,191

$

45,596

Pipelines

-

.89

%

Enterprise

Products

Partners

LP

352,445

13,337

Private

Equity

-

.28

%

KKR

&

Co

Inc

174,234

16,117

REITs

-

.09

%

Equity

LifeStyle

Properties

Inc

136,890

8,545

Prologis

Inc

72,790

9,621

Realty

Income

Corp

59,486

3,639

$

21,805

Retail

-

.27

%

Costco

Wholesale

Corp

22,388

22,308

Starbucks

Corp

90,415

8,100

Williams-Sonoma

Inc

37,047

6,755

$

37,163

Semiconductors

-

.80

%

Broadcom

Inc

40,120

12,418

Monolithic

Power

Systems

Inc

8,687

9,498

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

56,279

19,019

$

40,935

Software

-

.21

%

Microsoft

Corp

28,592

10,584

Salesforce

Inc

23,652

4,415

SAP

SE

ADR

44,830

7,675

$

22,674

Telecommunications

-

.92

%

Motorola

Solutions

Inc

7,791

3,381

T-Mobile

US

Inc

81,901

17,202

$

20,583

Transportation

-

.28

%

Expeditors

International

of

Washington

Inc

63,227

9,056

TOTAL

COMMON

STOCKS

$

695,385

Total

Investments

$

706,623

Other

Assets

and

Liabilities

- (0.14)%

(1,000)

TOTAL

NET

ASSETS

-

100.00%

$

705,623

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$0

or

0.00%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Equity

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

11,925

$

66,304

$

66,991

$

11,238

$

11,925

$

66,304

$

66,991

$

11,238

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Global

Emerging

Markets

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.18

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.18

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

143,238

$

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

4,522

$

TOTAL

INVESTMENT

COMPANIES

$

COMMON

STOCKS

-

.80

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.49

%

CSG

NV

(d) 10,461

$

Korea

Aerospace

Industries

Ltd

6,751

763

LIG

Nex1

Co

Ltd

2,441

1,008

$

2,053

Automobile

Manufacturers

-

.66

%

BYD

Co

Ltd

64,300

879

Mahindra

&

Mahindra

Ltd

15,748

$

1,373

Automobile

Parts

&

Equipment

-

.63

%

Contemporary

Amperex

Technology

Co

Ltd

8,599

510

Weichai

Power

Co

Ltd

234,830

837

$

1,347

Banks

-

.44

%

Asia

Commercial

Bank

JSC

93,300

Credicorp

Ltd

3,923

1,330

Grupo

Financiero

Banorte

SAB

de

CV

104,200

1,154

HDFC

Bank

Ltd

250,716

1,964

ICICI

Bank

Ltd

123,706

1,588

IDFC

First

Bank

Ltd

1,429,306

894

Piraeus

Bank

SA

(d) 112,902

928

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

53,386

1,263

PT

Bank

Central

Asia

Tbk

2,971,400

1,148

Vietnam

Technological

&

Commercial

Joint

Stock

Bank

639,600

749

$

11,102

Beverages

-

.90

%

Arca

Continental

SAB

de

CV

78,300

902

Varun

Beverages

Ltd

163,273

668

$

1,570

Biotechnology

-

.08

%

BeOne

Medicines

Ltd

(d) 23,800

534

Structure

Therapeutics

Inc

ADR

(d) 7,370

$

889

Building

Materials

-

.30

%

UltraTech

Cement

Ltd

6,516

744

Voltas

Ltd

24,015

$

1,070

Commercial

Services

-

.37

%

JSW

Infrastructure

Ltd

183,571

Localiza

Rent

a

Car

SA

72,400

657

$

1,129

Diversified

Financial

Services

-

.91

%

Bajaj

Finance

Ltd

71,590

613

Banco

BTG

Pactual

SA

132,812

1,450

Hong

Kong

Exchanges

&

Clearing

Ltd

23,100

1,165

$

3,228

Electric

-

.17

%

Emirates

Central

Cooling

Systems

Corp

336,803

Electrical

Components

&

Equipment

-

.07

%

Delta

Electronics

Inc

38,000

1,713

Electronics

-

.59

%

Voltronic

Power

Technology

Corp

21,000

Food

-

.39

%

BIM

Birlesik

Magazalar

AS

(e) 21,081

Healthcare

-

Products

-

.58

%

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co

Ltd

96,500

Healthcare

-

Services

-

.97

%

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co

11,656

801

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Home

Furnishings

-

.61

%

Anker

Innovations

Technology

Co

Ltd

31,395

$

501

Insurance

-

.45

%

AIA

Group

Ltd

188,000

2,089

Bupa

Arabia

for

Cooperative

Insurance

Co

19,400

924

Max

Financial

Services

Ltd

(d) 41,909

664

$

3,677

Internet

-

.25

%

Alibaba

Group

Holding

Ltd

138,192

2,166

Grab

Holdings

Ltd

(d) 228,416

836

MercadoLibre

Inc

(d) 600

1,038

Tencent

Holdings

Ltd

57,800

3,646

Trip.com

Group

Ltd

(d) 21,413

1,058

Vishal

Mega

Mart

Ltd

(d) 489,572

549

$

9,293

Iron

&

Steel

-

.02

%

Severstal

PAO

(d) 9,865

—

Vale

SA

ADR

53,044

844

$

844

Lodging

-

.43

%

Atour

Lifestyle

Holdings

Ltd

ADR

10,625

H

World

Group

Ltd

180,000

911

Indian

Hotels

Co

Ltd/The

116,290

708

$

2,010

Machinery

-

Diversified

-

.01

%

WEG

SA

85,000

836

Metal

Fabrication

&

Hardware

-

.98

%

APL

Apollo

Tubes

Ltd

39,254

811

Mining

-

.74

%

Anglogold

Ashanti

Plc

10,055

1,004

Impala

Platinum

Holdings

Ltd

18,543

Polyus

PJSC

(d) 1,080

—

Teck

Resources

Ltd

19,159

991

$

2,259

Miscellaneous

Manufacturers

-

.07

%

Escorts

Kubota

Ltd

2,057

Oil

&

Gas

-

.19

%

ADNOC

Drilling

Co

PJSC

419,243

593

PRIO

SA/Brazil

(d) 65,400

837

Reliance

Industries

Ltd

83,945

1,207

$

2,637

Pharmaceuticals

-

.22

%

Caplin

Point

Laboratories

Ltd

7,238

Richter

Gedeon

Nyrt

14,012

Simcere

Pharmaceutical

Group

Ltd

(f) 238,000

$

1,004

Pipelines

-

.43

%

Gaztransport

Et

Technigaz

SA

1,526

Real

Estate

-

.26

%

Aldar

Properties

PJSC

77,640

China

Resources

Land

Ltd

112,000

Cury

Construtora

e

Incorporadora

SA

66,700

$

1,039

Retail

-

.01

%

BBB

Foods

Inc

(d) 20,770

734

Jumbo

SA

17,815

Yum

China

Holdings

Inc

26,150

1,299

$

2,487

Semiconductors

-

.99

%

ASML

Holding

NV

-

NY

Reg

Shares

652

861

MediaTek

Inc

8,000

Samsung

Electronics

Co

Ltd

46,359

5,422

SK

hynix

Inc

4,486

2,545

Taiwan

Semiconductor

Manufacturing

Co

Ltd

226,164

13,080

$

22,292

Software

-

.90

%

NetEase

Inc

33,300

744

Schedule

of

Investments

Global

Emerging

Markets

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Telecommunications

-

.90

%

Accton

Technology

Corp

16,000

$

789

Xiaomi

Corp

(d),(f)

189,800

784

$

1,573

Water

-

.79

%

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

SABESP

21,381

655

TOTAL

COMMON

STOCKS

$

80,784

PREFERRED

STOCKS

-

.17

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

.37

%

Hyundai

Motor

Co

10,100.00%

1,892

$

Oil

&

Gas

-

.80

%

Petroleo

Brasileiro

SA

-

Petrobras

1.22%

158,800

1,489

TOTAL

PREFERRED

STOCKS

$

1,789

Total

Investments

$

82,721

Other

Assets

and

Liabilities

- (0.15)%

(124)

TOTAL

NET

ASSETS

-

100.00%

$

82,597

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$143

or

0.17%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$138

or

0.17%

of

net

assets.

(f) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,172

or

1.42%

of

net

assets.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

6,187

$

6,516

$

$

$

6,187

$

6,516

$

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.45

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.45

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

2,589,240

$

2,589

TOTAL

INVESTMENT

COMPANIES

$

2,589

BONDS

-

.19

%

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

.63

%

BofA

Auto

Trust

2025-1

4.22%,

11/22/2027

(c) $

$

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.55%

Capital

One

Prime

Auto

Receivables

Trust

2025-1

3.88%,

01/16/2029

1,140

1,139

Carmax

Auto

Owner

Trust

2024-3

5.21%,

09/15/2027

Drive

Auto

Receivables

Trust

2025-1

4.87%,

08/15/2028

Santander

Drive

Auto

Receivables

Trust

2025-2

4.71%,

06/15/2028

Santander

Drive

Auto

Receivables

Trust

2025-3

4.63%,

10/16/2028

719

720

Santander

Drive

Auto

Receivables

Trust

2025-4

4.28%,

01/15/2029

1,279

1,280

Wheels

Fleet

Lease

Funding

LLC

4.99%,

01/18/2040

(c) 1,110

1,111

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.67%

$

4,895

Commercial

Mortgage

Backed

Securities

-

.80

%

BANK5

2025-5YR19

4.60%,

12/15/2058

1,237

1,232

Benchmark

2021-B31

Mortgage

Trust

1.36%,

12/15/2054

Wells

Fargo

Commercial

Mortgage

Trust

2016-BNK1

2.65%,

08/15/2049

$

1,898

Mortgage

Backed

Securities

-

.04

%

Chase

Home

Lending

Mortgage

Trust

2025-8

5.50%,

06/25/2056

(c),(d)

1,136

1,137

Chase

Home

Lending

Mortgage

Trust

Series

2025-11

5.50%,

02/25/2056

(c),(d)

EverBank

Mortgage

Loan

Trust

18-1

3.50%,

02/25/2048

(c),(d)

Fannie

Mae

Grantor

Trust

2005-T1

4.14%,

05/25/2035

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.46%

Fannie

Mae

Interest

Strip

3.50%,

12/25/2043

(d),(e)

Fannie

Mae

REMICS

2.17%,

06/25/2045

(e) 734

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.00%

2.22%,

10/25/2049

(e) 1,770

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

2.22%,

05/25/2050

(e) 1,875

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

2.27%,

08/25/2049

(e) 2,734

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.27%,

09/25/2049

(e) 786

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.27%,

11/25/2049

(e) 1,324

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Fannie

Mae

REMICS

(continued)

2.29%,

06/25/2050

(e) $

1,238

$

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.96%

2.37%,

09/25/2047

(e) 2,487

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

2.92%,

12/25/2042

(e) 935

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.59%

3.00%,

10/25/2040

(e) 86

3.00%,

04/25/2042

3.00%,

05/25/2048

3.00%,

01/25/2051

(e) 1,507

7.00%,

04/25/2032

Freddie

Mac

REMICS

1.50%,

04/15/2028

2.09%,

05/15/2038

(e) 574

1.00 x

Month

Treasury

Average

Index

+

0.00%

2.27%,

09/25/2049

(e) 2,345

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.27%,

10/25/2049

(e) 2,033

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.27%,

11/25/2049

(e) 849

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

3.00%,

04/15/2046

Ginnie

Mae

2.31%,

06/20/2046

(e) 234

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

2.31%,

08/20/2047

(e) 1,556

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

2.35%,

12/20/2043

(e) 516

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.03%

2.41%,

10/20/2045

(e) 629

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.41%,

11/20/2047

(e) 472

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.51%,

08/20/2050

(e) 1,694

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

11/20/2050

(e) 1,064

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

07/20/2051

(e) 1,117

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.51%,

08/20/2051

(e) 1,396

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.58%,

09/20/2050

(e) 1,049

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.25%

3.00%,

07/20/2050

(e) 850

3.00%,

11/20/2050

(e) 1,555

3.00%,

11/20/2050

(e) 2,360

3.00%,

12/20/2050

(e) 982

3.50%,

10/20/2049

(e) 1,415

4.00%,

02/20/2044

(e) 293

4.00%,

04/20/2044

(e) 243

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Ginnie

Mae

(continued)

4.00%,

01/20/2046

(e) $

$

J.P.

Morgan

Mortgage

Trust

2023-3

5.00%,

10/25/2053

(c),(d)

658

642

JP

Morgan

Mortgage

Trust

2016-4

3.50%,

10/25/2046

(c),(d)

JP

Morgan

Mortgage

Trust

2017-3

3.80%,

08/25/2047

(c),(d)

JP

Morgan

Mortgage

Trust

2017-5

4.70%,

10/26/2048

(c),(d)

1,188

1,180

JP

Morgan

Mortgage

Trust

2023-10

6.00%,

05/25/2054

(c),(d)

JP

Morgan

Mortgage

Trust

2023-8

6.00%,

02/25/2054

(c),(d)

926

930

JP

Morgan

Mortgage

Trust

2024-1

6.00%,

06/25/2054

(c),(d)

New

Residential

Mortgage

Loan

Trust

2014-1

5.00%,

01/25/2054

(c),(d)

529

527

New

Residential

Mortgage

Loan

Trust

2015-2

5.24%,

08/25/2055

(c),(d)

Sequoia

Mortgage

Trust

2013-2

3.64%,

02/25/2043

(d) 53

Sequoia

Mortgage

Trust

2017-3

3.76%,

04/25/2047

(c),(d)

Sequoia

Mortgage

Trust

2023-4

5.76%,

11/25/2053

(c),(d)

Sequoia

Mortgage

Trust

2024-1

5.57%,

01/25/2054

(c),(d)

Sequoia

Mortgage

Trust

2024-5

6.00%,

06/25/2054

(c),(d)

Sequoia

Mortgage

Trust

2025-13

5.50%,

01/25/2056

(c),(d)

1,455

1,448

Sequoia

Mortgage

Trust

2025-HYB1

5.05%,

10/25/2055

(c),(d)

569

565

Sequoia

Mortgage

Trust

2025-S2

4.00%,

11/25/2055

(c),(d)

1,694

1,570

$

15,891

Other

Asset

Backed

Securities

-

.72

%

Consolidated

Communications

LLC/Fidium

Fiber

Finance

Holdco

LLC

5.08%,

03/20/2056

(c) 425

Lightpath

Fiber

Issuer

LLC

5.60%,

03/25/2056

(c) 225

MetroNet

Infrastructure

Issuer

LLC

5.16%,

12/20/2055

(c) 225

5.27%,

04/20/2056

(c) 450

Zayo

Issuer

LLC

5.57%,

10/20/2055

(c) 500

501

$

1,820

TOTAL

BONDS

$

24,504

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.27

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.96

%

3.00%,

05/01/2043

$

$

3.00%,

10/01/2046

3.50%,

02/01/2044

4.00%,

01/01/2043

4.00%,

10/01/2045

4.50%,

11/01/2043

5.00%,

02/01/2033

5.00%,

06/01/2033

5.00%,

01/01/2034

5.00%,

07/01/2035

5.00%,

07/01/2035

5.00%,

07/01/2035

5.00%,

10/01/2035

5.50%,

03/01/2033

5.50%,

04/01/2038

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

5.50%,

05/01/2038

$

$

6.00%,

05/01/2031

6.00%,

12/01/2031

6.00%,

11/01/2033

6.00%,

09/01/2034

6.00%,

02/01/2035

6.00%,

10/01/2036

6.00%,

03/01/2037

6.00%,

01/01/2038

6.00%,

04/01/2038

6.35%,

09/01/2032

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.23%

6.50%,

10/01/2028

6.50%,

12/01/2028

6.50%,

07/01/2031

6.50%,

08/01/2031

6.50%,

10/01/2031

6.50%,

10/01/2031

6.50%,

12/01/2031

6.50%,

02/01/2032

6.50%,

05/01/2032

7.00%,

04/01/2028

7.00%,

10/01/2031

7.00%,

10/01/2031

7.00%,

04/01/2032

7.50%,

10/01/2030

7.50%,

02/01/2031

8.00%,

10/01/2030

8.50%,

07/01/2029

$

2,071

Federal

National

Mortgage

Association

(FNMA)

-

.11

%

5.50%,

05/01/2033

6.00%,

05/01/2037

6.02%,

12/01/2032

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.64%

6.11%,

12/01/2033

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.71%

6.50%,

11/01/2032

7.00%,

08/01/2028

7.00%,

12/01/2028

$

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.40

%

2.00%,

10/01/2050

658

540

2.00%,

11/01/2051

1,150

932

2.00%,

11/01/2051

1,454

1,193

2.00%,

12/01/2051

2,224

1,828

2.00%,

12/01/2051

2,236

1,823

2.00%,

01/01/2052

1,794

1,477

2.00%,

01/01/2052

1,445

1,183

2.00%,

03/01/2052

1,530

1,243

2.50%,

02/01/2051

2,057

1,771

2.50%,

07/01/2051

2,708

2,323

2.50%,

12/01/2051

1,816

1,577

2.50%,

04/01/2052

2,085

1,809

3.00%,

10/01/2042

562

515

3.00%,

10/01/2046

3.00%,

01/01/2050

751

668

3.00%,

08/01/2050

530

3.00%,

09/01/2050

864

768

3.00%,

09/01/2051

712

634

3.00%,

06/01/2052

1,489

1,319

3.50%,

11/01/2042

3.50%,

03/01/2045

3.50%,

08/01/2050

690

646

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

04/01/2052

$

1,074

$

992

4.00%,

02/01/2041

4.00%,

11/01/2044

4.00%,

08/01/2045

4.00%,

08/01/2046

4.00%,

07/01/2052

4.00%,

02/01/2054

1,154

1,092

4.00%,

04/01/2056

(f) 250

4.50%,

08/01/2039

4.50%,

10/01/2043

4.50%,

09/01/2045

4.50%,

10/01/2045

4.50%,

11/01/2045

504

4.50%,

08/01/2052

756

736

4.50%,

10/01/2052

680

660

4.50%,

01/01/2054

724

706

4.50%,

01/01/2056

990

959

5.00%,

05/01/2033

5.00%,

04/01/2035

5.00%,

04/01/2035

5.00%,

07/01/2035

5.00%,

02/01/2038

5.00%,

02/01/2040

5.00%,

07/01/2041

5.00%,

09/01/2052

700

699

5.00%,

04/01/2053

1,538

1,533

5.00%,

04/01/2053

738

731

5.00%,

06/01/2053

1,823

1,807

5.00%,

11/01/2054

893

887

5.00%,

11/01/2054

757

747

5.00%,

01/01/2055

650

646

5.00%,

02/01/2055

5.00%,

02/01/2056

997

986

5.00%,

03/01/2056

1,045

1,033

5.00%,

04/01/2056

(f) 150

5.50%,

06/01/2033

5.50%,

03/01/2038

5.50%,

07/01/2053

815

830

5.50%,

11/01/2053

979

995

5.50%,

11/01/2053

804

820

5.50%,

03/01/2054

644

650

5.50%,

05/01/2054

727

741

5.50%,

10/01/2054

1,179

1,201

5.50%,

02/01/2055

1,600

1,626

5.50%,

04/01/2055

698

709

5.50%,

06/01/2055

5.50%,

08/01/2055

726

739

5.50%,

08/01/2055

770

780

6.00%,

11/01/2028

6.00%,

12/01/2031

6.00%,

01/01/2033

6.00%,

07/01/2037

6.00%,

11/01/2037

6.00%,

03/01/2038

6.00%,

04/01/2054

772

801

6.00%,

05/01/2054

719

745

6.00%,

06/01/2054

533

552

6.00%,

09/01/2054

511

530

6.00%,

09/01/2054

872

900

6.00%,

11/01/2054

878

909

6.50%,

03/01/2029

6.50%,

06/01/2031

6.50%,

08/01/2032

6.50%,

02/01/2033

6.50%,

12/01/2036

6.50%,

07/01/2037

6.50%,

02/01/2038

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

6.50%,

05/01/2054

$

1,098

$

1,150

7.00%,

10/01/2029

7.00%,

05/01/2031

7.00%,

11/01/2031

$

58,544

Government

National

Mortgage

Association

(GNMA)

-

.08

%

2.00%,

01/20/2051

1,213

1,002

2.00%,

02/20/2051

2.00%,

05/20/2051

552

2.50%,

06/20/2050

1,887

1,626

2.50%,

09/20/2051

893

769

3.00%,

02/20/2047

3.50%,

06/20/2043

3.50%,

06/20/2046

4.00%,

07/20/2047

4.00%,

04/20/2052

678

641

4.50%,

05/20/2052

900

876

4.50%,

10/20/2054

802

776

4.50%,

11/20/2054

502

4.50%,

04/20/2056

(f) 2,525

2,439

5.00%,

12/20/2052

1,943

1,933

5.00%,

05/20/2053

922

919

5.00%,

09/20/2053

780

776

5.00%,

10/20/2053

796

792

5.00%,

02/20/2054

5.00%,

04/20/2056

(f) 3,535

3,501

5.50%,

11/15/2033

5.50%,

05/20/2035

5.50%,

06/20/2053

698

708

5.50%,

08/20/2053

630

639

5.50%,

04/20/2054

1,258

1,274

6.00%,

06/20/2028

6.00%,

07/20/2028

6.00%,

02/20/2029

6.00%,

03/20/2029

6.00%,

07/20/2029

6.00%,

07/20/2033

6.50%,

03/20/2031

6.50%,

04/20/2031

7.00%,

01/15/2028

7.00%,

03/15/2028

7.00%,

01/15/2029

7.00%,

03/15/2029

7.00%,

05/15/2031

7.00%,

09/15/2031

7.00%,

06/15/2032

$

21,218

U.S.

Treasury

-

.85

%

3.13%,

08/31/2029

2,000

1,953

U.S.

Treasury

Bill

-

.87

%

3.60%,

04/23/2026

(g) 1,985

1,981

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

85,885

Total

Investments

$

112,978

Other

Assets

and

Liabilities

- (6.91)%

(7,305)

TOTAL

NET

ASSETS

-

100.00%

$

105,673

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,556

or

12.83%

of

net

assets.

(d) Certain

variable

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.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(e) Security

is

an

Interest

Only

Strip.

(f) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(g) Rate

shown

is

the

discount

rate

of

the

original

purchase.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

901

$

8,471

$

6,783

$

2,589

$

901

$

8,471

$

6,783

$

2,589

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury

Note;

June

2026

Long

$

$

US

Year

Treasury

Note;

June

2026

Short

4,979

US

Year

Treasury Note;

June

2026

Short

6,058

US

Long

Bond;

June

2026

Long

2,278

(74)

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

Growth

Account

I

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

2.30%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0.30%

iShares

Russell

1000

Growth

ETF

3,700

$

1,578

Money

Market

Funds

-

2.00%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

259,916

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

10,301,148

10,301

$

10,561

TOTAL

INVESTMENT

COMPANIES

$

12,139

CONVERTIBLE

PREFERRED

STOCKS

-

0.15%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0.08%

Waymo

LLC

Series

0.00%

(d),(e),(f)

2,489

$

Chemicals

-

0.01%

Sila

Nano

Series

F

0.00%

(d),(e),(f)

4,929

Software

-

0.06%

Nuro

-

Series

C

0.00%

(d),(e),(f)

17,442

Rappi

Inc

-

Series

E

0.00%

(d),(e),(f)

5,133

$

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

811

COMMON

STOCKS

-

97.64%

Shares

Held

Value

(000's)

Advertising

-

0.01%

Trade

Desk

Inc/The

(d) 1,716

$

Aerospace

&

Defense

-

2.69%

Boeing

Co/The

(d) 13,997

2,786

FTAI

Aviation

Ltd

General

Electric

Co

4,058

1,152

HEICO

Corp

HEICO

Corp

-

Class

A

11,037

2,329

Howmet

Aerospace

Inc

25,330

5,837

Karman

Holdings

Inc

(d),(g)

Leonardo

DRS

Inc

Loar

Holdings

Inc

(d) 167

Lockheed

Martin

Corp

Rocket

Lab

Corp

(d) 1,904

StandardAero

Inc

(d) 61,469

1,588

TransDigm

Group

Inc

$

14,168

Agriculture

-

0.00%

Darling

Ingredients

Inc

(d) 33

Airlines

-

0.00%

Alaska

Air

Group

Inc

(d) 47

American

Airlines

Group

Inc

(d) 108

Southwest

Airlines

Co

$

Apparel

-

0.04%

Birkenstock

Holding

Plc

(d),(g)

Deckers

Outdoor

Corp

(d) 567

On

Holding

AG

(d) 868

Ralph

Lauren

Corp

Tapestry

Inc

730

$

Automobile

Manufacturers

-

0.73%

Tesla

Inc

(d) 10,330

3,840

Automobile

Parts

&

Equipment

-

0.00%

Allison

Transmission

Holdings

Inc

Banks

-

0.10%

Bank

of

America

Corp

2,033

Bank

of

New

York

Mellon

Corp/The

Citigroup

Inc

1,205

Goldman

Sachs

Group

Inc/The

NU

Holdings

Ltd/Cayman

Islands

(d) 13,013

Popular

Inc

Western

Alliance

Bancorp

$

507

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Beverages

-

0.17%

Celsius

Holdings

Inc

(d) 642

$

Coca-Cola

Co/The

7,405

563

Coca-Cola

Consolidated

Inc

Monster

Beverage

Corp

(d) 2,718

PepsiCo

Inc

730

$

903

Biotechnology

-

1.12%

Alnylam

Pharmaceuticals

Inc

(d) 5,364

1,774

Amgen

Inc

1,546

544

Apellis

Pharmaceuticals

Inc

(d) 516

Argenx

SE

ADR

(d) 3,643

2,660

Exelixis

Inc

(d) 828

Gilead

Sciences

Inc

1,306

Halozyme

Therapeutics

Inc

(d) 490

Incyte

Corp

(d) 179

Insmed

Inc

(d) 766

Ionis

Pharmaceuticals

Inc

(d) 572

Sarepta

Therapeutics

Inc

(d) 380

Summit

Therapeutics

Inc

(d) 535

Ultragenyx

Pharmaceutical

Inc

(d) 439

Vertex

Pharmaceuticals

Inc

(d) 989

Viking

Therapeutics

Inc

(d),(g)

$

5,904

Building

Materials

-

0.53%

AAON

Inc

Armstrong

World

Industries

Inc

Carlisle

Cos

Inc

Eagle

Materials

Inc

James

Hardie

Industries

PLC

(d) 432

Lennox

International

Inc

Simpson

Manufacturing

Co

Inc

Trane

Technologies

PLC

6,471

2,696

$

2,804

Chemicals

-

0.06%

Ecolab

Inc

Sherwin-Williams

Co/The

815

$

Commercial

Services

-

3.31%

Adyen

NV

ADR

(d) 248,762

2,480

Affirm

Holdings

Inc

(d) 672

Automatic

Data

Processing

Inc

1,457

Avis

Budget

Group

Inc

(d),(g)

Block

Inc

(d) 143,199

8,617

Booz

Allen

Hamilton

Holding

Corp

Bright

Horizons

Family

Solutions

Inc

(d) 13

Cintas

Corp

16,658

2,818

Corpay

Inc

(d) 265

Equifax

Inc

Grand

Canyon

Education

Inc

(d) 28

H&R

Block

Inc

Moody's

Corp

606

Morningstar

Inc

NIQ

Global

Intelligence

Plc

(d) 60

Paylocity

Holding

Corp

(d) 157

Quanta

Services

Inc

Rollins

Inc

1,173

S&P

Global

Inc

5,432

2,310

Shift4

Payments

Inc

(d) 282

Toast

Inc

(d) 1,793

U-Haul

Holding

Co

(d),(g)

U-Haul

Holding

Co

Valvoline

Inc

(d),(g)

Verisk

Analytics

Inc

WEX

Inc

(d) 5

WillScot

Holdings

Corp

$

17,439

Schedule

of

Investments

LargeCap

Growth

Account

I

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Computers

-

8.71%

Apple

Inc

177,427

$

45,029

Crowdstrike

Holdings

Inc

(d) 963

Dell

Technologies

Inc

Everpure

Inc

(d) 1,046

ExlService

Holdings

Inc

(d) 654

Figure

Technology

Solutions

Inc

(d) 14

—

Fortinet

Inc

(d) 2,410

Gartner

Inc

(d) 273

Globant

SA

(d) 13

KBR

Inc

Kyndryl

Holdings

Inc

(d) 43

Lumentum

Holdings

Inc

(d) 23

NetApp

Inc

Okta

Inc

(d) 280

Rubrik

Inc

(d) 340

Super

Micro

Computer

Inc

(d) 1,009

Zscaler

Inc

(d) 390

$

45,921

Consumer

Products

-

0.01%

Kimberly-Clark

Corp

Cosmetics

&

Personal

Care

-

0.02%

Colgate-Palmolive

Co

1,484

Distribution

&

Wholesale

-

0.09%

Copart

Inc

(d) 3,217

Core

&

Main

Inc

(d) 466

Fastenal

Co

3,673

Pool

Corp

RB

Global

Inc

SiteOne

Landscape

Supply

Inc

(d) 70

WW

Grainger

Inc

$

Diversified

Financial

Services

-

5.69%

Ally

Financial

Inc

American

Express

Co

690

Ameriprise

Financial

Inc

Apollo

Global

Management

Inc

1,141

Ares

Management

Corp

732

Blue

Owl

Capital

Inc

2,608

Brookfield

Asset

Management

Ltd

558

Charles

Schwab

Corp/The

567

Circle

Internet

Group

Inc

(d) 66

Coinbase

Global

Inc

(d) 93

Credit

Acceptance

Corp

(d) 1

—

Freedom

Holding

Corp/NV

(d),(g)

Hamilton

Lane

Inc

Houlihan

Lokey

Inc

Interactive

Brokers

Group

Inc

-

A

Shares

Jefferies

Financial

Group

Inc

Lazard

Inc

LPL

Financial

Holdings

Inc

Mastercard

Inc

27,385

13,683

Rocket

Cos

Inc

(d) 112,113

1,598

SLM

Corp

SoFi

Technologies

Inc

(d) 707

TPG

Inc

524

Tradeweb

Markets

Inc

26,429

3,110

UWM

Holdings

Corp

—

Visa

Inc

35,528

10,738

XP

Inc

$

29,999

Electric

-

0.06%

NRG

Energy

Inc

799

Vistra

Corp

1,318

$

Electrical

Components

&

Equipment

-

0.36%

Generac

Holdings

Inc

(d) 9,836

1,921

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electronics

-

1.16%

Amphenol

Corp

47,710

$

6,028

Jabil

Inc

$

6,098

Energy

-

Alternate

Sources

-

0.00%

Enphase

Energy

Inc

(d) 495

Engineering

&

Construction

-

0.05%

Comfort

Systems

USA

Inc

EMCOR

Group

Inc

MasTec

Inc

(d) 51

TopBuild

Corp

(d) 5

$

Entertainment

-

0.32%

Churchill

Downs

Inc

DraftKings

Inc

(d) 66,245

1,433

Flutter

Entertainment

PLC

(d) 510

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d) 13

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d) 275

Live

Nation

Entertainment

Inc

(d) 618

TKO

Group

Holdings

Inc

Vail

Resorts

Inc

(g) 123

$

1,662

Environmental

Control

-

0.07%

Tetra

Tech

Inc

Veralto

Corp

Waste

Management

Inc

1,441

$

Food

-

0.02%

Hershey

Co/The

Performance

Food

Group

Co

(d) 89

Sprouts

Farmers

Market

Inc

(d) 413

Sysco

Corp

1,007

$

Healthcare

-

Products

-

5.03%

Boston

Scientific

Corp

(d) 994

Caris

Life

Sciences

Inc

(d) 173

Danaher

Corp

27,338

5,183

IDEXX

Laboratories

Inc

(d) 311

Inspire

Medical

Systems

Inc

(d) 118

Insulet

Corp

(d) 273

Intuitive

Surgical

Inc

(d) 23,505

10,836

Masimo

Corp

(d) 178

Natera

Inc

(d) 17,042

3,408

Penumbra

Inc

(d) 148

Repligen

Corp

(d) 15

ResMed

Inc

Stryker

Corp

13,567

4,458

Tempus

AI

Inc

(d) 385

Waters

Corp

(d) 122

West

Pharmaceutical

Services

Inc

8,694

2,179

$

26,534

Healthcare

-

Services

-

0.90%

Chemed

Corp

Cigna

Group/The

DaVita

Inc

(d) 150

HCA

Healthcare

Inc

Medpace

Holdings

Inc

(d) 443

Molina

Healthcare

Inc

(d) 121

Sotera

Health

Co

(d) 43

UnitedHealth

Group

Inc

16,190

4,381

$

4,720

Home

Furnishings

-

0.01%

SharkNinja

Inc

(d) 68

Somnigroup

International

Inc

793

$

Schedule

of

Investments

LargeCap

Growth

Account

I

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

-

0.49%

Aon

PLC

756

$

Arthur

J

Gallagher

&

Co

9,977

2,161

Brown

&

Brown

Inc

Equitable

Holdings

Inc

1,112

Everest

Group

Ltd

Kinsale

Capital

Group

Inc

Markel

Group

Inc

(d) 11

Marsh

&

McLennan

Cos

Inc

Progressive

Corp/The

RLI

Corp

Ryan

Specialty

Holdings

Inc

$

2,595

Internet

-

21.50%

Airbnb

Inc

(d) 1,627

Alphabet

Inc

-

A

Shares

96,808

27,838

Alphabet

Inc

-

C

Shares

24,798

7,114

Amazon.com

Inc

(d) 107,801

22,452

AppLovin

Corp

(d) 5,278

2,101

Booking

Holdings

Inc

984

4,143

CDW

Corp/DE

Chewy

Inc

(d) 911

Coupang

Inc

(d) 5,123

DoorDash

Inc

-

Class

A

(d) 22,325

3,352

Etsy

Inc

(d) 207

Expedia

Group

Inc

Gen

Digital

Inc

GoDaddy

Inc

(d) 523

Lyft

Inc

(d) 145

MercadoLibre

Inc

(d) 1,996

3,451

Meta

Platforms

Inc

29,957

17,139

Netflix

Inc

(d) 101,243

9,735

Palo

Alto

Networks

Inc

(d) 28,756

4,611

Pinterest

Inc

(d) 1,139

Reddit

Inc

(d) 503

Robinhood

Markets

Inc

(d) 405

Roku

Inc

(d) 75

Sea

Ltd

ADR

(d) 28,271

2,341

Shopify

Inc

(d) 15,977

1,895

Spotify

Technology

SA

(d) 5,912

2,867

Trump

Media

&

Technology

Group

Corp

(d) 152

Uber

Technologies

Inc

(d) 52,029

3,742

Wayfair

Inc

(d) 66

$

113,406

Iron

&

Steel

-

0.00%

Carpenter

Technology

Corp

Steel

Dynamics

Inc

$

Leisure

Products

&

Services

-

0.08%

Carnival

Corp

1,353

Norwegian

Cruise

Line

Holdings

Ltd

(d) 1,593

Planet

Fitness

Inc

(d) 322

Royal

Caribbean

Cruises

Ltd

987

Viking

Holdings

Ltd

(d) 682

$

Lodging

-

0.96%

Choice

Hotels

International

Inc

(g) 16

Hilton

Worldwide

Holdings

Inc

15,562

4,732

Las

Vegas

Sands

Corp

1,204

Marriott

International

Inc/MD

663

Travel

+

Leisure

Co

Wyndham

Hotels

&

Resorts

Inc

$

5,045

Machinery

-

Construction

&

Mining

-

0.28%

BWX

Technologies

Inc

Caterpillar

Inc

GE

Vernova

Inc

1,052

918

Vertiv

Holdings

Co

1,482

$

1,461

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Machinery

-

Diversified

-

0.40%

Ingersoll

Rand

Inc

26,105

$

2,092

Rockwell

Automation

Inc

$

2,106

Media

-

0.00%

FactSet

Research

Systems

Inc

Liberty

Broadband

Corp

-

A

Shares

(d) 12

—

Liberty

Broadband

Corp

-

C

Shares

(d) 116

Nexstar

Media

Group

Inc

$

Metal

Fabrication

&

Hardware

-

0.00%

RBC

Bearings

Inc

(d) 24

Mining

-

0.01%

Anglogold

Ashanti

Plc

Miscellaneous

Manufacturers

-

1.51%

3M

Co

Axon

Enterprise

Inc

(d) 4,600

1,953

Entegris

Inc

28,152

3,300

Fabrinet

(d) 4,935

2,574

Illinois

Tool

Works

Inc

$

7,973

Oil

&

Gas

-

0.02%

HF

Sinclair

Corp

Phillips

Texas

Pacific

Land

Corp

$

Oil

&

Gas

Services

-

0.00%

SLB

Ltd

Pharmaceuticals

-

2.44%

AbbVie

Inc

6,916

1,504

Bristol-Myers

Squibb

Co

1,531

Cardinal

Health

Inc

Cencora

Inc

714

Corcept

Therapeutics

Inc

(d) 398

Dexcom

Inc

(d) 1,527

Eli

Lilly

&

Co

11,131

10,238

McKesson

Corp

Neurocrine

Biosciences

Inc

(d) 319

Zoetis

Inc

1,370

$

12,859

Pipelines

-

0.06%

Cheniere

Energy

Inc

Targa

Resources

Corp

828

Williams

Cos

Inc/The

$

Private

Equity

-

0.08%

Blackstone

Inc

2,889

KKR

&

Co

Inc

664

$

Real

Estate

-

0.01%

CBRE

Group

Inc

(d) 140

CoStar

Group

Inc

(d) 249

Jones

Lang

LaSalle

Inc

(d) 49

$

REITs

-

0.08%

American

Tower

Corp

1,822

Lamar

Advertising

Co

Public

Storage

Simon

Property

Group

Inc

Sun

Communities

Inc

UDR

Inc

$

Retail

-

1.96%

AutoZone

Inc

(d) 10

BJ's

Wholesale

Club

Holdings

Inc

(d) 90

Burlington

Stores

Inc

(d) 245

Carvana

Co

(d),(g)

526

Casey's

General

Stores

Inc

Cava

Group

Inc

(d) 388

Schedule

of

Investments

LargeCap

Growth

Account

I

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Chipotle

Mexican

Grill

Inc

(d) 69,734

$

2,232

Costco

Wholesale

Corp

5,275

5,256

Darden

Restaurants

Inc

(g) 425

Domino's

Pizza

Inc

Dutch

Bros

Inc

(d) 495

Ferguson

Enterprises

Inc

Floor

&

Decor

Holdings

Inc

(d) 164

Freshpet

Inc

(d) 26

Home

Depot

Inc/The

2,957

973

Lithia

Motors

Inc

Lululemon

Athletica

Inc

(d) 231

McDonald's

Corp

Murphy

USA

Inc

O'Reilly

Automotive

Inc

(d) 3,016

Restaurant

Brands

International

Inc

857

RH

(d) 8

Ross

Stores

Inc

Starbucks

Corp

588

Texas

Roadhouse

Inc

TJX

Cos

Inc/The

2,179

Tractor

Supply

Co

2,076

Ulta

Beauty

Inc

(d) 47

Walmart

Inc

1,693

Wendy's

Co/The

(g) 122

Williams-Sonoma

Inc

Wingstop

Inc

Yum!

Brands

Inc

$

10,316

Semiconductors

-

19.07%

Advanced

Micro

Devices

Inc

(d) 3,671

747

Applied

Materials

Inc

877

Astera

Labs

Inc

(d) 500

Broadcom

Inc

89,424

27,677

KLA

Corp

514

757

Lam

Research

Corp

4,897

1,046

Lattice

Semiconductor

Corp

(d) 38,773

3,597

MACOM

Technology

Solutions

Holdings

Inc

(d) 69

Marvell

Technology

Inc

41,943

4,155

Monolithic

Power

Systems

Inc

NVIDIA

Corp

338,577

59,048

Onto

Innovation

Inc

(d) 52

QUALCOMM

Inc

951

Texas

Instruments

Inc

1,449

Tower

Semiconductor

Ltd

(d) 14,814

2,599

$

100,607

Software

-

15.54%

Adobe

Inc

(d) 1,597

Appfolio

Inc

(d) 97

Atlassian

Corp

(d) 644

Autodesk

Inc

(d) 9,072

2,172

Bentley

Systems

Inc

612

Broadridge

Financial

Solutions

Inc

Bullish

(d),(g)

—

Cadence

Design

Systems

Inc

(d) 8,144

2,263

Cloudflare

Inc

(d) 1,222

Datadog

Inc

(d) 38,225

4,513

Docusign

Inc

(d) 584

DoubleVerify

Holdings

Inc

(d) 121

Doximity

Inc

(d) 566

Dropbox

Inc

-

A

Shares

(d) 107

Duolingo

Inc

(d) 164

Dynatrace

Inc

(d) 1,145

Elastic

NV

(d) 359

Fair

Isaac

Corp

(d) 74

Figma

Inc

(d) 47,000

994

Fiserv

Inc

(d) 611

Gitlab

Inc

(d) 592

Guidewire

Software

Inc

(d) 333

HubSpot

Inc

(d) 13,043

3,184

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

Intuit

Inc

14,687

$

6,350

Magic

Leap

Inc

(d),(e),(f)

—

Manhattan

Associates

Inc

(d) 246

Microsoft

Corp

116,489

43,121

MongoDB

Inc

(d) 8,347

2,044

MSCI

Inc

nCino

Inc

(d) 44

Nutanix

Inc

(d) 273

Oracle

Corp

6,564

966

Palantir

Technologies

Inc

(d) 8,521

1,246

Paychex

Inc

Paycom

Software

Inc

Pegasystems

Inc

Procore

Technologies

Inc

(d) 483

PTC

Inc

(d) 63

RingCentral

Inc

ROBLOX

Corp

(d) 53,266

3,013

Salesforce

Inc

Samsara

Inc

(d) 174,221

5,521

SentinelOne

Inc

(d) 858

ServiceNow

Inc

(d) 39,321

4,111

Snowflake

Inc

-

Class

A

(d) 1,295

Strategy

Inc

(d),(g)

Stripe

Inc

-

Class

B

(d),(e),(f)

5,754

Synopsys

Inc

(d) 545

Take-Two

Interactive

Software

Inc

(d) 239

Teradata

Corp

(d) 38

Twilio

Inc

(d) 106

Tyler

Technologies

Inc

(d) 139

Unity

Software

Inc

(d) 54

Veeva

Systems

Inc

(d) 465

Workday

Inc

(d) 824

$

81,970

Telecommunications

-

1.88%

Arista

Networks

Inc

(d) 48,817

5,994

AST

SpaceMobile

Inc

(d) 777

Ciena

Corp

(d) 7,440

2,888

GCI

Liberty

Inc

-

Class

A

(d) 2

—

GCI

Liberty

Inc

-

Class

C

(d) 19

Iridium

Communications

Inc

Motorola

Solutions

Inc

T-Mobile

US

Inc

4,040

848

Ubiquiti

Inc

$

9,928

Transportation

-

0.01%

Old

Dominion

Freight

Line

Inc

Union

Pacific

Corp

XPO

Inc

(d) 92

$

TOTAL

COMMON

STOCKS

$

514,980

Total

Investments

$

527,930

Other

Assets

and

Liabilities

- (0.09)%

(490) TOTAL

NET

ASSETS

-

100.00%

$

527,440

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$260

or

0.05%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Schedule

of

Investments

LargeCap

Growth

Account

I

March

31,

2026

(unaudited)

See

accompanying

notes.

(f) Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(g) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$270

or

0.05%

of

net

assets.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

17,063

$

45,499

$

52,261

$

10,301

$

17,063

$

45,499

$

52,261

$

10,301

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Magic

Leap

Inc

01/20/2016-10/12/2017

$

$

—

0.00%

Nuro

-

Series

C

0.00%

10/30/2020

0.05%

Rappi

Inc

-

Series

E

0.00%

09/08/2020

0.01%

Sila

Nano

Series

F

0.00%

01/07/2021

0.01%

Stripe

Inc

-

Class

B

12/17/2019

0.07%

Waymo

LLC

Series

0.00%

05/08/2020

0.08%

Total

$

1,173

0.22%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

June

2026

Long

$

5,914

$

(5) Total

$

(5) Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.95

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.51

%

iShares

Core

S&P

500

ETF

18,397

$

12,017

Money

Market

Funds

-

.44

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

1,041,016

1,042

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

9,141,419

9,141

$

10,183

TOTAL

INVESTMENT

COMPANIES

$

22,200

COMMON

STOCKS

-

.15

%

Shares

Held

Value

(000's)

Advertising

-

.06

%

Omnicom

Group

Inc

13,006

$

980

Trade

Desk

Inc/The

(d) 18,203

$

1,393

Aerospace

&

Defense

-

.19

%

Boeing

Co/The

(d) 32,462

6,461

General

Dynamics

Corp

10,491

3,601

General

Electric

Co

43,356

12,303

Howmet

Aerospace

Inc

16,575

3,820

L3Harris

Technologies

Inc

7,721

2,665

Lockheed

Martin

Corp

8,370

5,059

Northrop

Grumman

Corp

5,515

3,762

RTX

Corp

55,487

10,703

TransDigm

Group

Inc

2,334

2,705

$

51,079

Agriculture

-

.75

%

Altria

Group

Inc

69,391

4,579

Archer-Daniels-Midland

Co

19,864

1,444

Bunge

Global

SA

5,595

712

Philip

Morris

International

Inc

64,349

10,639

$

17,374

Airlines

-

.16

%

Delta

Air

Lines

Inc

26,851

1,785

Southwest

Airlines

Co

20,311

763

United

Airlines

Holdings

Inc

(d) 13,371

1,231

$

3,779

Apparel

-

.21

%

Deckers

Outdoor

Corp

(d) 5,869

587

NIKE

Inc

49,253

2,602

Ralph

Lauren

Corp

1,599

550

Tapestry

Inc

8,370

1,181

$

4,920

Automobile

Manufacturers

-

.29

%

Cummins

Inc

5,713

3,074

Ford

Motor

Co

161,984

1,869

General

Motors

Co

37,368

2,784

PACCAR

Inc

21,719

2,509

Tesla

Inc

(d) 116,257

43,218

$

53,454

Automobile

Parts

&

Equipment

-

.03

%

Aptiv

PLC

(d) 8,794

611

Banks

-

.52

%

Bank

of

America

Corp

274,286

13,371

Bank

of

New

York

Mellon

Corp/The

28,450

3,375

Citigroup

Inc

72,237

8,192

Citizens

Financial

Group

Inc

17,569

1,054

Fifth

Third

Bancorp

37,207

1,729

Goldman

Sachs

Group

Inc/The

12,399

10,489

Huntington

Bancshares

Inc/OH

83,918

1,313

JPMorgan

Chase

&

Co

111,452

32,785

KeyCorp

38,727

777

M&T

Bank

Corp

6,278

1,298

Morgan

Stanley

49,733

8,185

Northern

Trust

Corp

7,704

1,075

PNC

Financial

Services

Group

Inc/The

16,693

3,474

Regions

Financial

Corp

35,882

937

State

Street

Corp

11,538

1,460

Truist

Financial

Corp

52,187

2,399

US

Bancorp

64,257

3,342

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

Wells

Fargo

&

Co

127,837

$

10,177

$

105,432

Beverages

-

.11

%

Brown-Forman

Corp

-

B

Shares

7,071

Coca-Cola

Co/The

160,032

12,171

Constellation

Brands

Inc

5,808

871

Keurig

Dr

Pepper

Inc

56,164

1,479

Molson

Coors

Beverage

Co

6,999

Monster

Beverage

Corp

(d) 29,484

2,136

PepsiCo

Inc

56,494

8,773

$

25,918

Biotechnology

-

.19

%

Amgen

Inc

22,260

7,832

Biogen

Inc

(d) 6,066

1,112

Corteva

Inc

27,801

2,327

Gilead

Sciences

Inc

51,287

7,148

Incyte

Corp

(d) 6,907

650

Moderna

Inc

(d) 14,375

730

Regeneron

Pharmaceuticals

Inc

4,168

3,221

Vertex

Pharmaceuticals

Inc

(d) 10,501

4,689

$

27,709

Building

Materials

-

.70

%

Builders

FirstSource

Inc

(d) 4,569

Carrier

Global

Corp

32,478

1,829

CRH

PLC

27,709

2,913

Johnson

Controls

International

plc

25,302

3,313

Lennox

International

Inc

1,321

613

Martin

Marietta

Materials

Inc

2,494

1,468

Masco

Corp

8,418

508

Trane

Technologies

PLC

9,151

3,814

Vulcan

Materials

Co

5,462

1,487

$

16,321

Chemicals

-

.11

%

Air

Products

and

Chemicals

Inc

9,202

2,673

Albemarle

Corp

4,871

874

CF

Industries

Holdings

Inc

6,449

837

Dow

Inc

29,658

1,235

DuPont

de

Nemours

Inc

16,916

775

Ecolab

Inc

10,537

2,803

International

Flavors

&

Fragrances

Inc

10,586

768

Linde

PLC

19,303

9,570

LyondellBasell

Industries

NV

10,646

858

Mosaic

Co/The

13,125

PPG

Industries

Inc

9,279

992

Qnity

Electronics

Inc

8,658

999

Sherwin-Williams

Co/The

9,531

3,055

$

25,774

Commercial

Services

-

.13

%

Automatic

Data

Processing

Inc

16,644

3,382

Block

Inc

(d) 22,641

1,362

Cintas

Corp

14,052

2,377

Corpay

Inc

(d) 2,892

842

Equifax

Inc

4,978

896

Global

Payments

Inc

9,835

662

Moody's

Corp

6,343

2,767

PayPal

Holdings

Inc

38,059

1,721

Quanta

Services

Inc

6,166

3,385

Rollins

Inc

12,131

648

S&P

Global

Inc

12,650

5,381

United

Rentals

Inc

2,605

1,898

Verisk

Analytics

Inc

5,761

1,093

$

26,414

Computers

-

.41

%

Accenture

PLC

-

Class

A

25,435

5,044

Apple

Inc

606,863

154,016

Cognizant

Technology

Solutions

Corp

19,771

1,213

Crowdstrike

Holdings

Inc

(d) 10,418

4,067

Dell

Technologies

Inc

12,286

2,016

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Computers

(continued)

EPAM

Systems

Inc

(d) 2,285

$

Fortinet

Inc

(d) 26,132

2,136

Gartner

Inc

(d) 2,913

Hewlett

Packard

Enterprise

Co

54,925

1,308

HP

Inc

37,948

729

International

Business

Machines

Corp

38,640

9,366

Leidos

Holdings

Inc

5,286

822

Lumentum

Holdings

Inc

(d) 2,949

2,072

NetApp

Inc

8,188

838

Sandisk

Corp/DE

(d) 6,102

3,877

Seagate

Technology

Holdings

PLC

9,015

3,532

Super

Micro

Computer

Inc

(d) 20,795

Western

Digital

Corp

14,016

3,791

$

196,071

Consumer

Products

-

.14

%

Avery

Dennison

Corp

3,194

552

Church

&

Dwight

Co

Inc

9,785

913

Clorox

Co/The

5,000

518

Kimberly-Clark

Corp

13,722

1,324

$

3,307

Cosmetics

&

Personal

Care

-

.81

%

Colgate-Palmolive

Co

33,321

2,840

Estee

Lauder

Cos

Inc/The

10,214

733

Kenvue

Inc

79,211

1,366

Procter

&

Gamble

Co/The

(e) 96,067

13,876

$

18,815

Distribution

&

Wholesale

-

.24

%

Copart

Inc

(d) 36,814

1,222

Fastenal

Co

47,468

2,203

Pool

Corp

1,356

WW

Grainger

Inc

1,809

1,973

$

5,672

Diversified

Financial

Services

-

.58

%

American

Express

Co

22,138

6,696

Ameriprise

Financial

Inc

3,774

1,677

Apollo

Global

Management

Inc

19,194

2,139

Ares

Management

Corp

8,516

929

Blackrock

Inc

5,964

5,736

Capital

One

Financial

Corp

25,841

4,714

Cboe

Global

Markets

Inc

4,325

1,216

Charles

Schwab

Corp/The

69,047

6,489

CME

Group

Inc

14,905

4,402

Coinbase

Global

Inc

(d) 9,221

1,610

Franklin

Resources

Inc

12,697

Interactive

Brokers

Group

Inc

-

A

Shares

18,410

1,235

Intercontinental

Exchange

Inc

23,476

3,692

Invesco

Ltd

18,359

Mastercard

Inc

33,666

16,822

Nasdaq

Inc

18,565

1,576

Raymond

James

Financial

Inc

7,252

1,050

Synchrony

Financial

14,370

977

T

Rowe

Price

Group

Inc

9,037

815

Visa

Inc

69,492

21,003

$

83,524

Electric

-

.38

%

AES

Corp/The

29,444

Alliant

Energy

Corp

10,623

762

Ameren

Corp

11,423

1,256

American

Electric

Power

Co

Inc

22,354

2,930

CenterPoint

Energy

Inc

26,988

1,165

CMS

Energy

Corp

12,663

982

Consolidated

Edison

Inc

14,922

1,689

Constellation

Energy

Corp

12,883

3,598

Dominion

Energy

Inc

35,302

2,182

DTE

Energy

Co

8,586

1,255

Duke

Energy

Corp

32,149

4,210

Edison

International

15,907

1,164

Entergy

Corp

18,695

2,101

Evergy

Inc

9,516

780

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electric

(continued)

Eversource

Energy

15,509

$

1,074

Exelon

Corp

42,281

2,073

FirstEnergy

Corp

21,490

1,089

NextEra

Energy

Inc

86,089

7,996

NRG

Energy

Inc

8,780

1,283

PG&E

Corp

90,866

1,596

Pinnacle

West

Capital

Corp

4,945

PPL

Corp

30,582

1,168

Public

Service

Enterprise

Group

Inc

20,634

1,670

Sempra

26,982

2,622

Southern

Co/The

45,519

4,393

Vistra

Corp

13,168

1,980

WEC

Energy

Group

Inc

13,453

1,557

Xcel

Energy

Inc

24,453

1,943

$

55,431

Electrical

Components

&

Equipment

-

.49

%

AMETEK

Inc

9,515

2,039

Eaton

Corp

PLC

16,057

5,743

Emerson

Electric

Co

23,233

3,044

Generac

Holdings

Inc

(d) 2,425

$

11,300

Electronics

-

.09

%

Allegion

plc

3,555

516

Amphenol

Corp

50,809

6,420

Coherent

Corp

(d) 7,747

1,845

Fortive

Corp

12,957

716

Garmin

Ltd

6,758

1,568

Honeywell

International

Inc

26,246

5,932

Hubbell

Inc

2,198

1,079

Jabil

Inc

4,366

1,160

Keysight

Technologies

Inc

(d) 7,090

2,002

Mettler-Toledo

International

Inc

(d) 841

1,061

TE

Connectivity

PLC

12,130

2,535

Trimble

Inc

(d) 9,835

642

$

25,476

Energy

-

Alternate

Sources

-

.04

%

First

Solar

Inc

(d) 4,435

875

Engineering

&

Construction

-

.17

%

Comfort

Systems

USA

Inc

1,456

2,008

EMCOR

Group

Inc

1,851

1,367

Jacobs

Solutions

Inc

4,856

618

$

3,993

Entertainment

-

.07

%

Live

Nation

Entertainment

Inc

(d) 6,526

995

TKO

Group

Holdings

Inc

2,741

553

$

1,548

Environmental

Control

-

.29

%

Pentair

PLC

6,765

589

Republic

Services

Inc

8,319

1,822

Veralto

Corp

10,264

908

Waste

Management

Inc

15,339

3,525

$

6,844

Food

-

.50

%

Campbell's

Company/The

(f) 8,139

Conagra

Brands

Inc

19,776

General

Mills

Inc

22,061

821

Hershey

Co/The

6,125

1,273

Hormel

Foods

Corp

12,053

J

M

Smucker

Co/The

4,408

Kraft

Heinz

Co/The

35,235

793

Kroger

Co/The

24,068

1,742

McCormick

&

Co

Inc/MD

10,481

529

Mondelez

International

Inc

52,989

3,054

Sysco

Corp

19,797

1,412

Tyson

Foods

Inc

11,664

747

$

11,561

Forest

Products

&

Paper

-

.03

%

International

Paper

Co

21,829

779

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Gas

-

.09

%

Atmos

Energy

Corp

6,836

$

1,263

NiSource

Inc

19,777

923

$

2,186

Hand

&

Machine

Tools

-

.05

%

Snap-on

Inc

2,147

780

Stanley

Black

&

Decker

Inc

6,401

$

1,235

Healthcare

-

Products

-

.36

%

Abbott

Laboratories

71,879

7,380

Agilent

Technologies

Inc

11,691

1,333

Align

Technology

Inc

(d) 2,757

Baxter

International

Inc

21,267

Bio-Techne

Corp

6,465

Boston

Scientific

Corp

(d) 61,304

3,847

Cooper

Cos

Inc/The

(d) 8,102

579

Danaher

Corp

26,009

4,931

Edwards

Lifesciences

Corp

(d) 23,990

1,921

GE

HealthCare

Technologies

Inc

18,842

1,341

Hologic

Inc

(d) 9,199

695

IDEXX

Laboratories

Inc

(d) 3,302

1,855

Insulet

Corp

(d) 2,907

610

Intuitive

Surgical

Inc

(d) 14,681

6,768

Medtronic

PLC

52,995

4,592

ResMed

Inc

6,023

1,352

Revvity

Inc

4,688

Solventum

Corp

(d) 6,093

STERIS

PLC

4,054

896

Stryker

Corp

14,238

4,679

Thermo

Fisher

Scientific

Inc

15,532

7,634

Waters

Corp

(d) 4,055

1,208

West

Pharmaceutical

Services

Inc

2,974

745

Zimmer

Biomet

Holdings

Inc

8,193

741

$

55,084

Healthcare

-

Services

-

.04

%

Centene

Corp

(d) 19,311

632

Charles

River

Laboratories

International

Inc

(d) 2,034

Cigna

Group/The

10,892

2,905

DaVita

Inc

(d) 1,381

Elevance

Health

Inc

9,124

2,671

HCA

Healthcare

Inc

6,472

3,063

Humana

Inc

4,981

864

IQVIA

Holdings

Inc

(d) 7,012

1,196

Labcorp

Holdings

Inc

3,428

915

Quest

Diagnostics

Inc

4,548

891

UnitedHealth

Group

Inc

37,446

10,132

Universal

Health

Services

Inc

2,284

$

24,241

Home

Builders

-

.17

%

DR

Horton

Inc

11,138

1,528

Lennar

Corp

-

A

Shares

8,920

775

NVR

Inc

(d) 116

765

PulteGroup

Inc

7,944

934

$

4,002

Insurance

-

.27

%

Aflac

Inc

19,296

2,117

Allstate

Corp/The

10,747

2,228

American

International

Group

Inc

22,180

1,669

Aon

PLC

8,866

2,862

Arch

Capital

Group

Ltd

(d) 14,777

1,418

Arthur

J

Gallagher

&

Co

10,621

2,300

Assurant

Inc

2,069

Berkshire

Hathaway

Inc

-

Class

B

(d) 75,801

36,324

Brown

&

Brown

Inc

12,102

789

Chubb

Ltd

15,037

4,901

Cincinnati

Financial

Corp

6,449

1,015

Erie

Indemnity

Co

1,051

Everest

Group

Ltd

1,683

550

Globe

Life

Inc

3,291

Hartford

Insurance

Group

Inc/The

11,530

1,559

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Loews

Corp

6,985

$

746

Marsh

&

McLennan

Cos

Inc

20,014

3,471

MetLife

Inc

22,756

1,609

Principal

Financial

Group

Inc

8,179

737

Progressive

Corp/The

24,229

4,803

Prudential

Financial

Inc

14,387

1,406

Travelers

Cos

Inc/The

8,940

2,608

W

R

Berkley

Corp

12,318

816

Willis

Towers

Watson

PLC

3,931

1,143

$

76,244

Internet

-

.37

%

Airbnb

Inc

(d) 17,509

2,211

Alphabet

Inc

-

A

Shares

240,661

69,205

Alphabet

Inc

-

C

Shares

193,313

55,454

Amazon.com

Inc

(d) 403,801

84,100

AppLovin

Corp

(d) 11,202

4,458

Booking

Holdings

Inc

1,333

5,612

CDW

Corp/DE

5,383

651

DoorDash

Inc

-

Class

A

(d) 15,453

2,320

eBay

Inc

18,685

1,701

Expedia

Group

Inc

4,838

1,117

F5

Inc

(d) 2,338

676

Gen

Digital

Inc

22,784

GoDaddy

Inc

(d) 5,588

Meta

Platforms

Inc

90,408

51,725

Netflix

Inc

(d) 174,529

16,781

Palo

Alto

Networks

Inc

(d) 33,401

5,355

Robinhood

Markets

Inc

(d) 32,667

2,264

Uber

Technologies

Inc

(d) 85,077

6,120

VeriSign

Inc

3,412

847

$

311,488

Iron

&

Steel

-

.11

%

Nucor

Corp

9,460

1,600

Steel

Dynamics

Inc

5,675

1,021

$

2,621

Leisure

Products

&

Services

-

.19

%

Carnival

Corp

47,541

1,230

Norwegian

Cruise

Line

Holdings

Ltd

(d) 18,821

Royal

Caribbean

Cruises

Ltd

10,401

2,862

$

4,444

Lodging

-

.31

%

Hilton

Worldwide

Holdings

Inc

9,480

2,883

Las

Vegas

Sands

Corp

12,499

673

Marriott

International

Inc/MD

9,093

2,974

MGM

Resorts

International

(d) 7,932

Wynn

Resorts

Ltd

3,489

$

7,178

Machinery

-

Construction

&

Mining

-

.17

%

Caterpillar

Inc

19,235

13,627

GE

Vernova

Inc

11,143

9,727

Vertiv

Holdings

Co

15,811

3,962

$

27,316

Machinery

-

Diversified

-

.65

%

Deere

&

Co

10,420

5,870

Dover

Corp

5,576

1,162

IDEX

Corp

3,094

586

Ingersoll

Rand

Inc

14,714

1,179

Nordson

Corp

2,189

582

Otis

Worldwide

Corp

16,069

1,239

Rockwell

Automation

Inc

4,645

1,667

Westinghouse

Air

Brake

Technologies

Corp

7,049

1,762

Xylem

Inc/NY

10,070

1,203

$

15,250

Media

-

.72

%

Charter

Communications

Inc

(d) 3,560

768

Comcast

Corp

-

Class

A

148,333

4,259

FactSet

Research

Systems

Inc

1,534

Fox

Corp

-

A

Shares

8,297

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Media

(continued)

Fox

Corp

-

B

Shares

5,853

$

News

Corp

-

A

Shares

15,305

News

Corp

-

B

Shares

(f) 5,052

Paramount

Skydance

Corp

(f) 12,849

Walt

Disney

Co/The

73,229

7,058

Warner

Bros

Discovery

Inc

(d) 102,449

2,813

$

16,668

Mining

-

.36

%

Freeport-McMoRan

Inc

59,413

3,493

Newmont

Corp

45,111

4,883

$

8,376

Miscellaneous

Manufacturers

-

.61

%

3M

Co

21,771

3,162

A

O

Smith

Corp

4,646

Axon

Enterprise

Inc

(d) 3,262

1,385

Illinois

Tool

Works

Inc

10,842

2,822

Parker-Hannifin

Corp

5,219

4,672

Teledyne

Technologies

Inc

(d) 1,942

1,175

Textron

Inc

7,200

631

$

14,153

Office

&

Business

Equipment

-

.02

%

Zebra

Technologies

Corp

(d) 2,035

Oil

&

Gas

-

.21

%

APA

Corp

14,666

622

Chevron

Corp

77,487

16,032

ConocoPhillips

50,645

6,685

Coterra

Energy

Inc

31,362

1,102

Devon

Energy

Corp

25,641

1,290

Diamondback

Energy

Inc

7,700

1,523

EOG

Resources

Inc

22,431

3,243

EQT

Corp

25,798

1,642

Expand

Energy

Corp

9,846

1,081

Exxon

Mobil

Corp

172,746

29,308

Marathon

Petroleum

Corp

12,195

2,978

Occidental

Petroleum

Corp

29,733

1,933

Phillips

16,658

3,035

Texas

Pacific

Land

Corp

2,395

1,137

Valero

Energy

Corp

12,609

3,115

$

74,726

Oil

&

Gas

Services

-

.30

%

Baker

Hughes

Co

40,851

2,494

Halliburton

Co

34,623

1,350

SLB

Ltd

61,811

3,176

$

7,020

Packaging

&

Containers

-

.13

%

Amcor

PLC

19,097

759

Ball

Corp

11,079

655

Packaging

Corp

of

America

3,694

784

Smurfit

Westrock

PLC

21,594

860

$

3,058

Pharmaceuticals

-

.85

%

AbbVie

Inc

73,058

15,889

Becton

Dickinson

&

Co

11,771

1,851

Bristol-Myers

Squibb

Co

84,183

5,106

Cardinal

Health

Inc

9,728

2,056

Cencora

Inc

8,039

2,525

CVS

Health

Corp

52,584

3,777

Dexcom

Inc

(d) 15,910

999

Eli

Lilly

&

Co

32,757

30,129

Henry

Schein

Inc

(d) 4,138

Johnson

&

Johnson

99,618

24,351

McKesson

Corp

5,065

4,383

Merck

&

Co

Inc

102,598

12,341

Pfizer

Inc

235,027

6,599

Viatris

Inc

47,618

643

Zoetis

Inc

17,450

2,063

$

113,017

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Pipelines

-

.47

%

Kinder

Morgan

Inc

80,933

$

2,714

ONEOK

Inc

26,012

2,351

Targa

Resources

Corp

8,874

2,225

Williams

Cos

Inc/The

50,483

3,674

$

10,964

Private

Equity

-

.27

%

Blackstone

Inc

30,945

3,558

KKR

&

Co

Inc

28,374

2,625

$

6,183

Real

Estate

-

.10

%

CBRE

Group

Inc

(d) 12,012

1,627

CoStar

Group

Inc

(d) 17,520

707

$

2,334

REITs

-

.84

%

Alexandria

Real

Estate

Equities

Inc

6,440

American

Tower

Corp

19,353

3,340

AvalonBay

Communities

Inc

5,852

956

BXP

Inc

6,092

Camden

Property

Trust

4,274

Crown

Castle

Inc

18,003

1,464

Digital

Realty

Trust

Inc

13,350

2,406

Equinix

Inc

4,062

3,982

Equity

Residential

14,213

841

Essex

Property

Trust

Inc

2,663

644

Extra

Space

Storage

Inc

8,773

1,150

Federal

Realty

Investment

Trust

3,246

Healthpeak

Properties

Inc

28,733

Host

Hotels

&

Resorts

Inc

26,441

507

Invitation

Homes

Inc

23,316

579

Iron

Mountain

Inc

12,229

1,249

Kimco

Realty

Corp

27,866

626

Mid-America

Apartment

Communities

Inc

4,832

590

Prologis

Inc

38,426

5,079

Public

Storage

6,529

1,769

Realty

Income

Corp

38,029

2,327

Regency

Centers

Corp

6,802

515

SBA

Communications

Corp

4,404

758

Simon

Property

Group

Inc

13,445

2,508

UDR

Inc

12,437

Ventas

Inc

19,630

1,605

VICI

Properties

Inc

44,184

1,207

Welltower

Inc

28,840

5,702

Weyerhaeuser

Co

29,791

728

$

42,801

Retail

-

.49

%

AutoZone

Inc

(d) 685

2,314

Best

Buy

Co

Inc

8,054

517

Carvana

Co

(d),(f)

5,846

1,838

Chipotle

Mexican

Grill

Inc

(d) 53,839

1,723

Costco

Wholesale

Corp

18,349

18,283

Darden

Restaurants

Inc

4,761

933

Dollar

General

Corp

9,099

1,080

Dollar

Tree

Inc

(d) 7,646

837

Domino's

Pizza

Inc

1,286

Genuine

Parts

Co

5,749

608

Home

Depot

Inc/The

41,153

13,535

Lowe's

Cos

Inc

23,189

5,479

Lululemon

Athletica

Inc

(d) 4,414

676

McDonald's

Corp

29,440

9,150

O'Reilly

Automotive

Inc

(d) 34,804

3,213

Ross

Stores

Inc

13,372

2,897

Starbucks

Corp

47,093

4,219

Target

Corp

18,719

2,269

TJX

Cos

Inc/The

45,905

7,331

Tractor

Supply

Co

21,847

990

Ulta

Beauty

Inc

(d) 1,835

959

Walmart

Inc

181,203

22,520

Williams-Sonoma

Inc

4,936

900

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Yum!

Brands

Inc

11,478

$

1,785

$

104,517

Semiconductors

-

.26

%

Advanced

Micro

Devices

Inc

(d) 67,395

13,710

Analog

Devices

Inc

20,198

6,426

Applied

Materials

Inc

32,811

11,215

Broadcom

Inc

195,984

60,659

Intel

Corp

(d) 194,083

8,565

KLA

Corp

5,419

7,979

Lam

Research

Corp

51,621

11,029

Microchip

Technology

Inc

22,368

1,445

Micron

Technology

Inc

46,523

15,717

Monolithic

Power

Systems

Inc

2,011

2,199

NVIDIA

Corp

1,004,468

175,179

NXP

Semiconductors

NV

10,404

2,048

ON

Semiconductor

Corp

(d) 16,289

1,009

QUALCOMM

Inc

44,108

5,680

Skyworks

Solutions

Inc

6,211

Teradyne

Inc

6,474

1,919

Texas

Instruments

Inc

37,517

7,284

$

332,396

Shipbuilding

-

.03

%

Huntington

Ingalls

Industries

Inc

1,623

617

Software

-

.90

%

Adobe

Inc

(d) 16,968

4,125

Akamai

Technologies

Inc

(d) 5,946

683

Autodesk

Inc

(d) 8,764

2,098

Broadridge

Financial

Solutions

Inc

4,825

784

Cadence

Design

Systems

Inc

(d) 11,250

3,126

Datadog

Inc

(d) 13,567

1,602

Electronic

Arts

Inc

9,308

1,898

Fair

Isaac

Corp

(d) 982

1,048

Fidelity

National

Information

Services

Inc

21,408

1,004

Fiserv

Inc

(d) 22,237

1,241

Intuit

Inc

11,504

4,974

Jack

Henry

&

Associates

Inc

2,983

Microsoft

Corp

306,947

113,623

MSCI

Inc

3,038

1,638

Oracle

Corp

70,093

10,311

Palantir

Technologies

Inc

(d) 94,428

13,813

Paychex

Inc

13,357

1,230

PTC

Inc

(d) 4,920

701

Roper

Technologies

Inc

4,407

1,559

Salesforce

Inc

38,734

7,231

ServiceNow

Inc

(d) 43,238

4,521

Synopsys

Inc

(d) 7,905

3,134

Take-Two

Interactive

Software

Inc

(d) 7,192

1,420

Tyler

Technologies

Inc

(d) 1,780

609

Workday

Inc

(d) 8,806

1,144

$

183,988

Telecommunications

-

.12

%

Arista

Networks

Inc

(d) 42,685

5,241

AT&T

Inc

289,378

8,389

Ciena

Corp

(d) 5,823

2,261

Cisco

Systems

Inc

163,320

12,672

Corning

Inc

32,276

4,388

EchoStar

Corp

(d) 5,562

651

Motorola

Solutions

Inc

6,849

2,972

T-Mobile

US

Inc

19,587

4,114

Verizon

Communications

Inc

174,317

8,751

$

49,439

Toys,

Games

&

Hobbies

-

.02

%

Hasbro

Inc

5,509

516

Transportation

-

.93

%

CH

Robinson

Worldwide

Inc

4,900

814

CSX

Corp

76,869

3,155

Expeditors

International

of

Washington

Inc

5,541

794

FedEx

Corp

8,943

3,185

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Transportation

(continued)

JB

Hunt

Transport

Services

Inc

3,090

$

655

Norfolk

Southern

Corp

9,282

2,664

Old

Dominion

Freight

Line

Inc

7,607

1,486

Union

Pacific

Corp

24,530

5,951

United

Parcel

Service

Inc

30,550

3,006

$

21,710

Water

-

.05

%

American

Water

Works

Co

Inc

8,066

1,098

TOTAL

COMMON

STOCKS

$

2,310,669

Total

Investments

$

2,332,869

Other

Assets

and

Liabilities

- (0.10)%

(2,396)

TOTAL

NET

ASSETS

-

100.00%

$

2,330,473

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,042

or

0.04%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,934

or

0.38%

of

net

assets.

(f) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,065

or

0.05%

of

net

assets.

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

9,133

$

115,464

$

115,456

$

9,141

$

9,133

$

115,464

$

115,456

$

9,141

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

June

2026

Long

$

11,499

$

(201)

Total

$

(201)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.47

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.47

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

438,743

$

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b),(c)

6,919,925

6,920

$

7,359

TOTAL

INVESTMENT

COMPANIES

$

7,359

COMMON

STOCKS

-

.38

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.85

%

HEICO

Corp

-

Class

A

118,864

$

25,091

TransDigm

Group

Inc

20,909

24,233

$

49,324

Building

Materials

-

.65

%

Eagle

Materials

Inc

4,156

787

Martin

Marietta

Materials

Inc

29,582

17,414

Vulcan

Materials

Co

92,356

25,149

$

43,350

Chemicals

-

.41

%

Air

Products

and

Chemicals

Inc

4,897

1,422

Perimeter

Solutions

Inc

(d) 160,110

3,910

Sherwin-Williams

Co/The

5,396

1,730

$

7,062

Commercial

Services

-

.05

%

Moody's

Corp

8,461

3,691

Sunbelt

Rentals

Holdings

Inc

(e) 76,504

4,980

Toast

Inc

(d) 117,532

3,116

Verisk

Analytics

Inc

18,373

3,486

$

15,273

Distribution

&

Wholesale

-

.90

%

Copart

Inc

(d) 447,519

14,858

Fastenal

Co

100,891

4,681

$

19,539

Diversified

Financial

Services

-

.16

%

Ares

Management

Corp

55,158

6,017

Brookfield

Asset

Management

Ltd

177,228

7,878

Brookfield

Wealth

Solutions

Ltd

(d) 4,394

LPL

Financial

Holdings

Inc

39,175

11,785

$

25,862

Electric

-

.49

%

Brookfield

Infrastructure

Partners

LP

458,810

16,572

Brookfield

Renewable

Corp

21,025

837

Brookfield

Renewable

Partners

LP

155,349

5,071

$

22,480

Electrical

Components

&

Equipment

-

.90

%

AMETEK

Inc

20,964

4,494

Electronics

-

.78

%

Mettler-Toledo

International

Inc

(d) 3,116

3,930

Entertainment

-

.05

%

Liberty

Live

Holdings

Inc

-

A

Shares

(d) 6,232

571

Liberty

Live

Holdings

Inc

-

C

Shares

(d) 27,594

2,597

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d) 16,606

1,296

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d) 132,394

11,256

Live

Nation

Entertainment

Inc

(d) 161,404

24,616

$

40,336

Environmental

Control

-

.87

%

Veralto

Corp

11,262

996

Waste

Connections

Inc

20,698

3,362

$

4,358

Healthcare

-

Products

-

.83

%

IDEXX

Laboratories

Inc

(d) 9,600

5,394

Waters

Corp

(d) 12,733

3,792

$

9,186

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Home

Builders

-

.90

%

Lennar

Corp

-

A

Shares

41,346

$

3,591

Lennar

Corp

-

B

Shares

724

NVR

Inc

(d) 887

5,845

$

9,497

Insurance

-

.14

%

Arch

Capital

Group

Ltd

(d) 40,020

3,842

Arthur

J

Gallagher

&

Co

37,983

8,226

Brown

&

Brown

Inc

222,354

14,500

Markel

Group

Inc

(d) 5,612

10,742

Ryan

Specialty

Holdings

Inc

61,067

2,060

W

R

Berkley

Corp

20,812

1,379

$

40,749

Lodging

-

.60

%

Hilton

Worldwide

Holdings

Inc

66,132

20,110

Hyatt

Hotels

Corp

55,116

7,925

$

28,035

Machinery

-

Diversified

-

.48

%

Graco

Inc

28,245

2,391

Miscellaneous

Manufacturers

-

.82

%

Entegris

Inc

77,637

9,102

Private

Equity

-

.79

%

Brookfield

Corp

621,400

25,148

KKR

&

Co

Inc

204,090

18,878

$

44,026

Real

Estate

-

.45

%

CBRE

Group

Inc

(d) 139,381

18,881

CoStar

Group

Inc

(d) 208,413

8,407

$

27,288

REITs

-

.04

%

Millrose

Properties

Inc

6,797

Retail

-

.99

%

AutoZone

Inc

(d) 102

Domino's

Pizza

Inc

Floor

&

Decor

Holdings

Inc

(d) 96,687

4,912

O'Reilly

Automotive

Inc

(d) 225,377

20,804

Ross

Stores

Inc

17,646

3,823

$

30,010

Software

-

.63

%

Appfolio

Inc

(d) 19,987

3,154

CCC

Intelligent

Solutions

Holdings

Inc

(d) 546,590

3,280

Constellation

Software

Inc/Canada

4,484

7,889

Constellation

Software

Inc/Canada

-

Warrants

(d),(f)

4,165

—

Fair

Isaac

Corp

(d) 5,492

5,863

Guidewire

Software

Inc

(d) 13,770

2,059

Jack

Henry

&

Associates

Inc

3,387

535

Lumine

Group

Inc

(d) 6,936

MSCI

Inc

18,049

9,729

Procore

Technologies

Inc

(d) 46,411

2,645

Roper

Technologies

Inc

12,494

4,421

Topicus.com

Inc

(d) 13,797

935

Tyler

Technologies

Inc

(d) 24,322

8,327

Veeva

Systems

Inc

(d) 52,857

9,285

$

58,232

Transportation

-

.60

%

Old

Dominion

Freight

Line

Inc

15,483

3,025

TOTAL

COMMON

STOCKS

$

497,739

Total

Investments

$

505,098

Other

Assets

and

Liabilities

- (0.85)%

(4,272)

TOTAL

NET

ASSETS

-

100.00%

$

500,826

Schedule

of

Investments

MidCap

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,759

or

0.95%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,735

or

0.95%

of

net

assets.

(f) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

3,913

$

49,935

$

46,928

$

6,920

$

3,913

$

49,935

$

46,928

$

6,920

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Principal

Capital

Appreciation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.77

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.77

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

681,366

$

681

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

5,813,877

5,814

$

6,495

TOTAL

INVESTMENT

COMPANIES

$

6,495

COMMON

STOCKS

-

.73

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.88

%

Boeing

Co/The

(d) 12,260

$

2,440

RTX

Corp

10,148

1,958

$

4,398

Apparel

-

.30

%

Birkenstock

Holding

Plc

(d),(e)

19,669

705

Automobile

Manufacturers

-

.18

%

Cummins

Inc

3,059

1,646

PACCAR

Inc

22,170

2,561

Tesla

Inc

(d) 8,741

3,249

$

7,456

Banks

-

.88

%

Bank

of

America

Corp

28,773

1,403

East

West

Bancorp

Inc

12,987

1,386

JPMorgan

Chase

&

Co

19,172

5,640

Morgan

Stanley

12,630

2,078

Wintrust

Financial

Corp

6,611

919

$

11,426

Biotechnology

-

.45

%

Gilead

Sciences

Inc

13,670

1,905

Insmed

Inc

(d) 7,412

1,212

Structure

Therapeutics

Inc

ADR

(d) 13,450

648

Vertex

Pharmaceuticals

Inc

(d) 4,449

1,987

$

5,752

Building

Materials

-

.34

%

CRH

PLC

9,336

981

Modine

Manufacturing

Co

(d) 3,636

788

Trane

Technologies

PLC

3,263

1,360

$

3,129

Chemicals

-

.99

%

Linde

PLC

4,658

2,309

Computers

-

.98

%

Apple

Inc

55,890

14,185

Lumentum

Holdings

Inc

(d) 1,486

1,044

Western

Digital

Corp

4,155

1,124

$

16,353

Cosmetics

&

Personal

Care

-

.16

%

Haleon

PLC

ADR

116,740

1,169

Procter

&

Gamble

Co/The

10,650

1,538

$

2,707

Diversified

Financial

Services

-

.57

%

American

Express

Co

6,680

2,021

Ameriprise

Financial

Inc

4,147

1,843

Nasdaq

Inc

23,148

1,965

Visa

Inc

16,123

4,873

$

10,702

Electric

-

.32

%

Constellation

Energy

Corp

5,250

1,466

NRG

Energy

Inc

11,111

1,624

$

3,090

Electrical

Components

&

Equipment

-

.76

%

Eaton

Corp

PLC

4,947

1,769

Electronics

-

.29

%

Amphenol

Corp

5,351

676

Energy

-

Alternate

Sources

-

.24

%

Enphase

Energy

Inc

(d) 15,155

573

Environmental

Control

-

.09

%

Republic

Services

Inc

11,661

2,554

Food

-

.48

%

Sprouts

Farmers

Market

Inc

(d) 14,691

1,133

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Gas

-

.01

%

Atmos

Energy

Corp

12,776

$

2,360

Healthcare

-

Products

-

.99

%

Medtronic

PLC

6,127

531

Stryker

Corp

5,458

1,794

Thermo

Fisher

Scientific

Inc

4,735

2,327

$

4,652

Healthcare

-

Services

-

.79

%

HCA

Healthcare

Inc

3,935

1,862

Home

Builders

-

.50

%

DR

Horton

Inc

8,479

1,164

Insurance

-

.16

%

Berkshire

Hathaway

Inc

-

Class

B

(d) 4,414

2,115

Chubb

Ltd

6,767

2,206

Progressive

Corp/The

3,785

750

$

5,071

Internet

-

.88

%

Alphabet

Inc

-

A

Shares

40,569

11,666

Amazon.com

Inc

(d) 37,090

7,725

AppLovin

Corp

(d) 1,087

Meta

Platforms

Inc

7,581

4,337

Netflix

Inc

(d) 5,582

537

Palo

Alto

Networks

Inc

(d) 12,456

1,997

Reddit

Inc

(d) 5,013

675

Shopify

Inc

(d) 6,485

769

Spotify

Technology

SA

(d) 1,842

893

Uber

Technologies

Inc

(d) 16,083

1,157

$

30,189

Investment

Companies

-

.19

%

Riot

Platforms

Inc

(d) 36,828

Lodging

-

.54

%

Hilton

Worldwide

Holdings

Inc

4,141

1,259

Machinery

-

Construction

&

Mining

-

.53

%

BWX

Technologies

Inc

4,869

996

GE

Vernova

Inc

2,978

2,599

$

3,595

Machinery

-

Diversified

-

.64

%

Deere

&

Co

2,645

1,490

Media

-

.60

%

Nexstar

Media

Group

Inc

7,824

1,415

Mining

-

.74

%

Cameco

Corp

5,345

581

Freeport-McMoRan

Inc

12,885

757

MP

Materials

Corp

(d) 8,278

$

1,737

Miscellaneous

Manufacturers

-

.28

%

Parker-Hannifin

Corp

3,361

3,009

Oil

&

Gas

-

.25

%

Expand

Energy

Corp

19,425

2,132

Exxon

Mobil

Corp

25,048

4,250

Marathon

Petroleum

Corp

14,634

3,573

$

9,955

Pharmaceuticals

-

.05

%

AbbVie

Inc

12,905

2,807

Eli

Lilly

&

Co

3,156

2,903

McKesson

Corp

3,880

3,357

Novartis

AG

ADR

18,112

2,767

$

11,834

Pipelines

-

.26

%

Kinder

Morgan

Inc

18,494

620

REITs

-

.80

%

Regency

Centers

Corp

30,446

2,303

Terreno

Realty

Corp

22,797

1,400

Ventas

Inc

6,195

507

$

4,210

Schedule

of

Investments

Principal

Capital

Appreciation

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

-

.40

%

Casey's

General

Stores

Inc

6,978

$

5,079

Costco

Wholesale

Corp

3,119

3,108

Dick's

Sporting

Goods

Inc

6,184

1,226

O'Reilly

Automotive

Inc

(d) 15,928

1,470

TJX

Cos

Inc/The

25,817

4,123

$

15,006

Semiconductors

-

.41

%

Amkor

Technology

Inc

19,110

861

Broadcom

Inc

18,077

5,595

KLA

Corp

1,300

1,914

Lam

Research

Corp

8,658

1,850

Micron

Technology

Inc

2,561

865

NVIDIA

Corp

93,963

16,387

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

9,049

3,058

Teradyne

Inc

2,969

880

$

31,410

Software

-

.18

%

Cloudflare

Inc

(d) 9,018

1,861

Datadog

Inc

(d) 4,303

508

Fair

Isaac

Corp

(d) 444

Microsoft

Corp

27,838

10,305

Palantir

Technologies

Inc

(d) 9,628

1,408

ServiceNow

Inc

(d) 11,508

1,203

Twilio

Inc

(d) 8,515

1,071

$

16,830

Telecommunications

-

.41

%

Arista

Networks

Inc

(d) 8,807

1,081

Motorola

Solutions

Inc

3,634

1,577

T-Mobile

US

Inc

14,259

2,995

$

5,653

Transportation

-

.21

%

CH

Robinson

Worldwide

Inc

2,924

TOTAL

COMMON

STOCKS

$

228,994

Total

Investments

$

235,489

Other

Assets

and

Liabilities

- (0.50)%

(1,179)

TOTAL

NET

ASSETS

-

100.00%

$

234,310

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$681

or

0.29%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$698

or

0.30%

of

net

assets.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

2,115

$

23,532

$

19,833

$

5,814

$

2,115

$

23,532

$

19,833

$

5,814

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Principal

LifeTime

2020

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.24

%

Blue

Chip

Fund

(a),(b)

79,422

$

2,912

Core

Fixed

Income

Fund

(a) 5,009,220

43,230

Diversified

Real

Asset

Fund

(a) 69,853

941

Global

Emerging

Markets

Fund

(a) 103,028

3,635

High

Yield

Fund

(a) 1,178,609

7,743

International

Equity

Fund

(a) 874,750

14,468

International

Small

Company

Fund

(a) 57,425

704

LargeCap

Growth

Fund

I

(a) 221,811

3,161

MidCap

Fund

(a),(b)

27,447

1,047

Real

Estate

Securities

Fund

(a) 80,934

2,305

SmallCap

Fund

(a) 73,599

2,267

SmallCap

S&P

600

Index

Fund

(a) 10,421

Small-MidCap

Dividend

Income

Fund

(a) 68,781

1,401

$

84,079

Principal

Funds,

Inc.

Institutional

Class

-

.76

%

Equity

Income

Fund

(a) 95,070

3,947

Inflation

Protection

Fund

(a) 888,168

6,839

LargeCap

S&P

500

Index

Fund

(a) 454,672

14,077

LargeCap

Value

Fund

III

(a) 208,091

3,604

Short-Term

Income

Fund

(a) 1,515,766

18,341

$

46,808

TOTAL

INVESTMENT

COMPANIES

$

130,887

Total

Investments

$

130,887

Other

Assets

and

Liabilities

- 0.00%

TOTAL

NET

ASSETS

-

100.00%

$

130,889

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Schedule

of

Investments

Principal

LifeTime

2020

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

3,770

$

$

$

2,912

Core

Fixed

Income

Fund

45,719

962

2,993

43,230

Diversified

Real

Asset

Fund

566

941

Equity

Income

Fund

4,211

3,947

Global

Emerging

Markets

Fund

3,061

817

3,635

High

Yield

Fund

8,213

536

7,743

Inflation

Protection

Fund

7,197

6,839

International

Equity

Fund

14,990

1,157

14,468

International

Small

Company

Fund

735

704

LargeCap

Growth

Fund

I

4,029

3,161

LargeCap

S&P

500

Index

Fund

16,271

1,735

14,077

LargeCap

Value

Fund

III

3,917

3,604

MidCap

Fund

1,244

1,047

Real

Estate

Securities

Fund

2,195

2,305

Short-Term

Income

Fund

19,284

1,264

18,341

SmallCap

Fund

2,473

2,267

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

1,424

1,401

$

139,575

$

4,173

$

10,873

$

130,887

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(31)

$

—

$

(424)

Core

Fixed

Income

Fund

(234)

—

(224)

Diversified

Real

Asset

Fund

—

—

Equity

Income

Fund

—

Global

Emerging

Markets

Fund

—

—

High

Yield

Fund

(5)

—

(163)

Inflation

Protection

Fund

—

(3)

—

International

Equity

Fund

—

—

International

Small

Company

Fund

—

(1)

—

(19)

LargeCap

Growth

Fund

I

—

(21)

—

(422)

LargeCap

S&P

500

Index

Fund

—

(10)

—

(641)

LargeCap

Value

Fund

III

—

—

(2)

MidCap

Fund

—

(6)

—

(130)

Real

Estate

Securities

Fund

(4)

—

Short-Term

Income

Fund

—

—

(92)

SmallCap

Fund

—

—

(25)

SmallCap

S&P

600

Index

Fund

—

—

—

Small-MidCap

Dividend

Income

Fund

—

$

767

$

(241)

$

—

$

(1,747)

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2030

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.75

%

Blue

Chip

Fund

(a),(b)

280,835

$

10,298

Core

Fixed

Income

Fund

(a) 11,049,363

95,356

Diversified

Real

Asset

Fund

(a) 176,693

2,380

Global

Emerging

Markets

Fund

(a) 364,050

12,844

High

Yield

Fund

(a) 2,338,309

15,363

International

Equity

Fund

(a) 3,091,877

51,140

International

Small

Company

Fund

(a) 202,982

2,488

LargeCap

Growth

Fund

I

(a) 784,256

11,176

MidCap

Fund

(a),(b)

97,291

3,713

Real

Estate

Securities

Fund

(a) 205,404

5,850

SmallCap

Fund

(a) 260,850

8,034

SmallCap

S&P

600

Index

Fund

(a) 36,118

918

Small-MidCap

Dividend

Income

Fund

(a) 242,809

4,946

$

224,506

Principal

Funds,

Inc.

Institutional

Class

-

.25

%

Equity

Income

Fund

(a) 336,035

13,952

Inflation

Protection

Fund

(a) 1,657,936

12,766

LargeCap

S&P

500

Index

Fund

(a) 1,607,294

49,762

LargeCap

Value

Fund

III

(a) 735,483

12,739

Short-Term

Income

Fund

(a) 1,459,939

17,665

$

106,884

TOTAL

INVESTMENT

COMPANIES

$

331,390

Total

Investments

$

331,390

Other

Assets

and

Liabilities

- 0.00%

(1)

TOTAL

NET

ASSETS

-

100.00%

$

331,389

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Schedule

of

Investments

Principal

LifeTime

2030

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

12,401

$

641

$

1,183

$

10,298

Core

Fixed

Income

Fund

94,407

5,953

3,996

95,356

Diversified

Real

Asset

Fund

1,592

694

2,380

Equity

Income

Fund

13,852

842

938

13,952

Global

Emerging

Markets

Fund

10,034

3,285

558

12,844

High

Yield

Fund

15,255

1,080

645

15,363

Inflation

Protection

Fund

12,574

676

533

12,766

International

Equity

Fund

49,257

3,840

2,401

51,140

International

Small

Company

Fund

2,472

2,488

LargeCap

Growth

Fund

I

13,252

681

1,244

11,176

LargeCap

S&P

500

Index

Fund

53,599

2,862

4,425

49,762

LargeCap

Value

Fund

III

12,879

741

863

12,739

MidCap

Fund

4,135

3,713

Real

Estate

Securities

Fund

5,368

574

5,850

Short-Term

Income

Fund

17,388

1,102

737

17,665

SmallCap

Fund

8,181

534

8,034

SmallCap

S&P

600

Index

Fund

893

918

Small-MidCap

Dividend

Income

Fund

4,712

4,946

$

332,251

$

24,400

$

19,130

$

331,390

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(36)

$

—

$

(1,525)

Core

Fixed

Income

Fund

882

—

—

(1,008)

Diversified

Real

Asset

Fund

—

Equity

Income

Fund

—

Global

Emerging

Markets

Fund

—

—

High

Yield

Fund

—

—

(327)

Inflation

Protection

Fund

—

—

—

International

Equity

Fund

—

—

International

Small

Company

Fund

—

—

—

(70)

LargeCap

Growth

Fund

I

—

(23)

—

(1,490)

LargeCap

S&P

500

Index

Fund

—

(13)

—

(2,261)

LargeCap

Value

Fund

III

—

—

(22)

MidCap

Fund

—

—

—

(471)

Real

Estate

Securities

Fund

—

Short-Term

Income

Fund

—

—

(88)

SmallCap

Fund

—

—

(92)

SmallCap

S&P

600

Index

Fund

—

—

Small-MidCap

Dividend

Income

Fund

—

$

1,431

$

(43)

$

—

$

(6,088)

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2040

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.52

%

Blue

Chip

Fund

(a),(b)

274,627

$

10,071

Core

Fixed

Income

Fund

(a) 5,308,401

45,811

Global

Emerging

Markets

Fund

(a) 355,893

12,556

High

Yield

Fund

(a) 1,190,053

7,819

International

Equity

Fund

(a) 3,023,118

50,002

International

Small

Company

Fund

(a) 198,479

2,433

LargeCap

Growth

Fund

I

(a) 766,924

10,929

MidCap

Fund

(a),(b)

95,365

3,639

Real

Estate

Securities

Fund

(a) 206,140

5,871

SmallCap

Fund

(a) 255,456

7,868

SmallCap

S&P

600

Index

Fund

(a) 34,764

884

Small-MidCap

Dividend

Income

Fund

(a) 236,828

4,824

$

162,707

Principal

Funds,

Inc.

Institutional

Class

-

.48

%

Equity

Income

Fund

(a) 328,587

13,643

LargeCap

S&P

500

Index

Fund

(a) 1,571,690

48,660

LargeCap

Value

Fund

III

(a) 719,168

12,456

$

74,759

TOTAL

INVESTMENT

COMPANIES

$

237,466

Total

Investments

$

237,466

Other

Assets

and

Liabilities

- 0.00%

(1)

TOTAL

NET

ASSETS

-

100.00%

$

237,465

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

11,614

$

833

$

875

$

10,071

Core

Fixed

Income

Fund

43,426

3,712

847

45,811

Equity

Income

Fund

12,977

1,072

583

13,643

Global

Emerging

Markets

Fund

9,358

3,415

12,556

High

Yield

Fund

7,434

694

7,819

International

Equity

Fund

46,046

4,745

1,171

50,002

International

Small

Company

Fund

2,359

2,433

LargeCap

Growth

Fund

I

12,413

890

921

10,929

LargeCap

S&P

500

Index

Fund

50,165

3,749

3,043

48,660

LargeCap

Value

Fund

III

12,065

952

536

12,456

MidCap

Fund

3,908

3,639

Real

Estate

Securities

Fund

4,595

1,257

5,871

SmallCap

Fund

7,694

593

7,868

SmallCap

S&P

600

Index

Fund

826

884

Small-MidCap

Dividend

Income

Fund

4,430

4,824

$

229,310

$

22,957

$

9,271

$

237,466

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(30)

$

—

$

(1,471)

Core

Fixed

Income

Fund

—

—

(480)

Equity

Income

Fund

—

Global

Emerging

Markets

Fund

—

—

High

Yield

Fund

—

—

(165)

International

Equity

Fund

—

(2)

—

International

Small

Company

Fund

—

—

—

(67)

LargeCap

Growth

Fund

I

—

(15)

—

(1,438)

LargeCap

S&P

500

Index

Fund

—

(1)

—

(2,210)

LargeCap

Value

Fund

III

—

—

—

(25)

MidCap

Fund

—

—

—

(454)

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

—

(92)

SmallCap

S&P

600

Index

Fund

—

—

—

Small-MidCap

Dividend

Income

Fund

—

$

651

$

(41)

$

—

$

(5,489)

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2050

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.31

%

Blue

Chip

Fund

(a),(b)

143,120

$

5,248

Core

Fixed

Income

Fund

(a) 490,762

4,235

Global

Emerging

Markets

Fund

(a) 185,909

6,559

High

Yield

Fund

(a) 183,989

1,209

International

Equity

Fund

(a) 1,577,020

26,084

International

Small

Company

Fund

(a) 103,500

1,269

LargeCap

Growth

Fund

I

(a) 399,700

5,696

MidCap

Fund

(a),(b)

49,634

1,894

Real

Estate

Securities

Fund

(a) 87,625

2,495

SmallCap

Fund

(a) 133,282

4,105

SmallCap

S&P

600

Index

Fund

(a) 18,010

Small-MidCap

Dividend

Income

Fund

(a) 123,644

2,519

$

61,771

Principal

Funds,

Inc.

Institutional

Class

-

.69

%

Equity

Income

Fund

(a) 171,367

7,115

LargeCap

S&P

500

Index

Fund

(a) 819,555

25,374

LargeCap

Value

Fund

III

(a) 375,077

6,496

$

38,985

TOTAL

INVESTMENT

COMPANIES

$

100,756

Total

Investments

$

100,756

Other

Assets

and

Liabilities

- 0.00%

—

TOTAL

NET

ASSETS

-

100.00%

$

100,756

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

6,249

$

$

594

$

5,248

Core

Fixed

Income

Fund

4,131

4,235

Equity

Income

Fund

6,976

7,115

Global

Emerging

Markets

Fund

5,022

1,769

6,559

High

Yield

Fund

1,183

1,209

International

Equity

Fund

24,714

2,290

1,154

26,084

International

Small

Company

Fund

1,266

1,269

LargeCap

Growth

Fund

I

6,674

623

5,696

LargeCap

S&P

500

Index

Fund

26,861

1,732

2,080

25,374

LargeCap

Value

Fund

III

6,488

6,496

MidCap

Fund

2,095

1,894

Real

Estate

Securities

Fund

1,932

598

2,495

SmallCap

Fund

4,127

4,105

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

2,382

2,519

$

100,540

$

9,280

$

6,535

$

100,756

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(16)

$

—

$

(769)

Core

Fixed

Income

Fund

—

—

(43)

Equity

Income

Fund

—

Global

Emerging

Markets

Fund

—

—

High

Yield

Fund

—

—

(25)

International

Equity

Fund

—

—

International

Small

Company

Fund

—

—

—

(32)

LargeCap

Growth

Fund

I

—

(2)

—

(759)

LargeCap

S&P

500

Index

Fund

—

(3)

—

(1,136)

LargeCap

Value

Fund

III

—

—

—

(2)

MidCap

Fund

—

—

—

(235)

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

—

(42)

SmallCap

S&P

600

Index

Fund

—

—

—

Small-MidCap

Dividend

Income

Fund

—

$

$

(5)

$

—

$

(2,524)

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2060

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.33

%

Blue

Chip

Fund

(a),(b)

63,031

$

2,311

Core

Fixed

Income

Fund

(a) 117,765

1,016

Global

Emerging

Markets

Fund

(a) 81,211

2,865

High

Yield

Fund

(a) 50,342

International

Equity

Fund

(a) 692,300

11,451

International

Small

Company

Fund

(a) 45,492

558

LargeCap

Growth

Fund

I

(a) 176,008

2,508

MidCap

Fund

(a),(b)

21,912

836

Real

Estate

Securities

Fund

(a) 37,628

1,072

SmallCap

Fund

(a) 58,848

1,812

SmallCap

S&P

600

Index

Fund

(a) 7,617

Small-MidCap

Dividend

Income

Fund

(a) 54,182

1,104

$

26,058

Principal

Funds,

Inc.

Institutional

Class

-

.67

%

Equity

Income

Fund

(a) 75,308

3,127

LargeCap

S&P

500

Index

Fund

(a) 360,319

11,155

LargeCap

Value

Fund

III

(a) 164,813

2,855

$

17,137

TOTAL

INVESTMENT

COMPANIES

$

43,195

Total

Investments

$

43,195

Other

Assets

and

Liabilities

- 0.00%

—

TOTAL

NET

ASSETS

-

100.00%

$

43,195

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

2,586

$

$

$

2,311

Core

Fixed

Income

Fund

929

1,016

Equity

Income

Fund

2,884

3,127

Global

Emerging

Markets

Fund

2,050

893

2,865

High

Yield

Fund

International

Equity

Fund

10,137

1,576

11,451

International

Small

Company

Fund

543

558

LargeCap

Growth

Fund

I

2,759

2,508

LargeCap

S&P

500

Index

Fund

11,002

1,309

652

11,155

LargeCap

Value

Fund

III

2,683

2,855

MidCap

Fund

879

836

Real

Estate

Securities

Fund

786

1,072

SmallCap

Fund

1,716

1,812

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

991

1,104

$

40,423

$

6,069

$

2,120

$

43,195

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

—

$

—

$

(336)

Core

Fixed

Income

Fund

—

—

(12)

Equity

Income

Fund

—

—

Global

Emerging

Markets

Fund

—

—

—

High

Yield

Fund

—

—

(8)

International

Equity

Fund

—

—

—

International

Small

Company

Fund

—

—

—

(16)

LargeCap

Growth

Fund

I

—

—

—

(324)

LargeCap

S&P

500

Index

Fund

—

—

—

(504)

LargeCap

Value

Fund

III

—

—

—

(9)

MidCap

Fund

—

—

—

(103)

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

—

—

(24)

SmallCap

S&P

600

Index

Fund

—

—

—

Small-MidCap

Dividend

Income

Fund

—

—

$

$

—

$

—

$

(1,177)

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.23

%

Blue

Chip

Fund

(a),(b)

31,414

$

1,152

Core

Fixed

Income

Fund

(a) 2,440,741

21,064

Diversified

Real

Asset

Fund

(a) 32,094

Global

Emerging

Markets

Fund

(a) 40,756

1,438

High

Yield

Fund

(a) 595,904

3,915

International

Equity

Fund

(a) 346,005

5,723

International

Small

Company

Fund

(a) 22,694

LargeCap

Growth

Fund

I

(a) 87,720

1,250

MidCap

Fund

(a),(b)

10,857

Real

Estate

Securities

Fund

(a) 37,334

1,063

SmallCap

Fund

(a) 29,154

898

SmallCap

S&P

600

Index

Fund

(a) 4,051

Small-MidCap

Dividend

Income

Fund

(a) 27,196

554

$

38,284

Principal

Funds,

Inc.

Institutional

Class

-

.77

%

Equity

Income

Fund

(a) 37,600

1,561

Inflation

Protection

Fund

(a) 449,351

3,460

LargeCap

S&P

500

Index

Fund

(a) 179,866

5,569

LargeCap

Value

Fund

III

(a) 82,313

1,426

Short-Term

Income

Fund

(a) 846,535

10,243

$

22,259

TOTAL

INVESTMENT

COMPANIES

$

60,543

Total

Investments

$

60,543

Other

Assets

and

Liabilities

- 0.00%

TOTAL

NET

ASSETS

-

100.00%

$

60,545

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) Non-income

producing

security

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

1,263

$

$

$

1,152

Core

Fixed

Income

Fund

18,856

3,459

1,033

21,064

Diversified

Real

Asset

Fund

Equity

Income

Fund

1,410

1,561

Global

Emerging

Markets

Fund

1,022

1,438

High

Yield

Fund

3,516

674

3,915

Inflation

Protection

Fund

3,081

535

3,460

International

Equity

Fund

5,013

1,009

5,723

International

Small

Company

Fund

LargeCap

Growth

Fund

I

1,349

1,250

LargeCap

S&P

500

Index

Fund

5,438

939

551

5,569

LargeCap

Value

Fund

III

1,312

1,426

MidCap

Fund

Real

Estate

Securities

Fund

877

1,063

Short-Term

Income

Fund

9,116

1,676

10,243

SmallCap

Fund

832

898

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

554

$

54,552

$

10,514

$

3,648

$

60,543

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(7)

$

—

$

(168)

Core

Fixed

Income

Fund

—

—

(218)

Diversified

Real

Asset

Fund

—

—

Equity

Income

Fund

—

Global

Emerging

Markets

Fund

—

—

—

High

Yield

Fund

—

—

(82)

Inflation

Protection

Fund

—

—

—

International

Equity

Fund

—

—

International

Small

Company

Fund

—

—

—

(8)

LargeCap

Growth

Fund

I

—

(4)

—

(163)

LargeCap

S&P

500

Index

Fund

—

(1)

—

(256)

LargeCap

Value

Fund

III

—

—

(4)

MidCap

Fund

—

(1)

—

(51)

Real

Estate

Securities

Fund

—

—

Short-Term

Income

Fund

—

—

(50)

SmallCap

Fund

—

—

—

(12)

SmallCap

S&P

600

Index

Fund

—

—

—

Small-MidCap

Dividend

Income

Fund

—

$

$

(9)

$

—

$

(866)

Amounts

in

thousands.

Schedule

of

Investments

Real

Estate

Securities

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.79

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.79

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

2,072,810

$

2,073

TOTAL

INVESTMENT

COMPANIES

$

2,073

COMMON

STOCKS

-

.81

%

Shares

Held

Value

(000's)

Lodging

-

.62

%

Hilton

Worldwide

Holdings

Inc

9,283

$

2,823

Hyatt

Hotels

Corp

9,800

1,409

$

4,232

Real

Estate

-

.53

%

Jones

Lang

LaSalle

Inc

(c) 4,541

1,382

REITs

-

.66

%

Agree

Realty

Corp

53,207

4,011

American

Healthcare

REIT

Inc

84,488

3,984

American

Homes

Rent

250,453

6,993

American

Tower

Corp

121,761

21,013

AvalonBay

Communities

Inc

67,261

10,987

Brixmor

Property

Group

Inc

70,971

2,044

Cousins

Properties

Inc

161,218

3,639

Crown

Castle

Inc

75,954

6,176

Digital

Realty

Trust

Inc

52,881

9,530

EastGroup

Properties

Inc

30,471

5,640

Equinix

Inc

27,567

27,022

Equity

LifeStyle

Properties

Inc

57,820

3,609

Essex

Property

Trust

Inc

23,025

5,572

Extra

Space

Storage

Inc

89,548

11,742

Gaming

and

Leisure

Properties

Inc

101,623

4,509

Healthpeak

Properties

Inc

277,734

4,563

Hudson

Pacific

Properties

Inc

(c) 43,985

InvenTrust

Properties

Corp

122,650

3,736

Invitation

Homes

Inc

184,832

4,593

Iron

Mountain

Inc

68,825

7,030

Kilroy

Realty

Corp

69,334

1,956

National

Health

Investors

Inc

34,439

2,785

NETSTREIT

Corp

183,911

3,463

Prologis

Inc

120,526

15,931

Regency

Centers

Corp

140,364

10,620

Rexford

Industrial

Realty

Inc

151,782

4,968

Ryman

Hospitality

Properties

Inc

25,524

2,355

Sabra

Health

Care

REIT

Inc

336,845

6,477

Saul

Centers

Inc

5,334

Simon

Property

Group

Inc

33,823

6,309

Smartstop

Self

Storage

REIT

Inc

48,074

1,456

Terreno

Realty

Corp

41,274

2,535

Ventas

Inc

224,414

18,352

Vornado

Realty

Trust

88,607

2,303

Welltower

Inc

125,561

24,825

Weyerhaeuser

Co

76,417

1,867

$

253,029

TOTAL

COMMON

STOCKS

$

258,643

Total

Investments

$

260,716

Other

Assets

and

Liabilities

- 0.40%

1,042

TOTAL

NET

ASSETS

-

100.00%

$

261,758

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

1,413

$

15,942

$

15,282

$

2,073

$

1,413

$

15,942

$

15,282

$

2,073

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

SAM

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.99

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.18

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

11,687,605

$

11,688

Principal

Exchange-Traded

Funds

-

.51

%

Principal

International

Equity

ETF

(a) 1,013,853

34,430

Principal

U.S.

Mega-Cap

ETF

(a) 893,807

57,483

Principal

U.S.

Small-Cap

ETF

(a) 365,600

20,958

Principal

Value

ETF

(a) 52,000

2,677

$

115,548

Principal

Funds,

Inc.

Class

-

.52

%

Blue

Chip

Fund

(a),(c)

207,042

7,592

Core

Fixed

Income

Fund

(a) 7,690,749

66,371

Diversified

Real

Asset

Fund

(a) 589,147

7,936

Global

Emerging

Markets

Fund

(a) 864,748

30,508

Global

Macro

Fund

(a) 577,436

6,144

High

Yield

Fund

(a) 3,005,096

19,744

International

Equity

Index

Fund

(a) 1,394,683

19,623

International

Small

Company

Fund

(a) 191,296

2,345

LargeCap

Growth

Fund

I

(a) 311,952

4,445

Small-MidCap

Dividend

Income

Fund

(a) 252,978

5,153

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 1,113,272

10,187

$

180,048

Principal

Funds,

Inc.

Institutional

Class

-

.17

%

Bond

Market

Index

Fund

(a) 2,939,565

25,104

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 1,744,145

16,482

Global

Listed

Infrastructure

Fund

(a) 206,967

2,655

Inflation

Protection

Fund

(a) 360,297

2,774

LargeCap

S&P

500

Index

Fund

(a) 748,901

23,186

LargeCap

Value

Fund

III

(a) 1,083,412

18,765

Overseas

Fund

(a) 2,163,788

25,360

Principal

Capital

Appreciation

Fund

(a) 541,148

44,785

Short-Term

Income

Fund

(a) 1,131,556

13,692

$

172,803

Principal

Variable

Contracts

Funds,

Inc. Class

-

.61

%

Equity

Income

Account

(a) 1,217,524

39,423

Government

&

High

Quality

Bond

Account

(a) 780,561

6,705

Real

Estate

Securities

Account

(a) 600,254

10,841

$

56,969

TOTAL

INVESTMENT

COMPANIES

$

537,056

Total

Investments

$

537,056

Other

Assets

and

Liabilities

- 0.01%

TOTAL

NET

ASSETS

-

100.00%

$

537,132

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

SAM

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

9,629

$

$

915

$

7,592

Bond

Market

Index

Fund

25,019

962

891

25,104

Core

Fixed

Income

Fund

67,230

1,307

1,464

66,371

Diversified

Real

Asset

Fund

8,055

991

7,936

Equity

Income

Account

32,293

6,859

39,423

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

12,731

4,352

16,482

Global

Emerging

Markets

Fund

24,848

5,431

30,508

Global

Listed

Infrastructure

Fund

2,716

—

2,655

Global

Macro

Fund

5,786

—

—

6,144

Government

&

High

Quality

Bond

Account

6,098

672

6,705

High

Yield

Fund

24,078

4,336

19,744

Inflation

Protection

Fund

13,899

11,297

2,774

International

Equity

Index

Fund

32,697

14,077

19,623

International

Small

Company

Fund

4,866

2,596

2,345

LargeCap

Growth

Fund

I

8,381

3,270

4,445

LargeCap

S&P

500

Index

Fund

11,444

13,224

23,186

LargeCap

Value

Fund

III

19,995

1,272

18,765

MidCap

Account

2,397

2,310

—

Overseas

Fund

29,661

4,573

25,360

Principal

Capital

Appreciation

Fund

48,012

1,799

44,785

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

11,098

1,963

1,373

11,688

Principal

International

Equity

ETF

33,417

—

—

34,430

Principal

U.S.

Mega-Cap

ETF

69,463

—

8,099

57,483

Principal

U.S.

Small-Cap

ETF

20,471

636

—

20,958

Principal

Value

ETF

—

2,722

—

2,677

Real

Estate

Securities

Account

3,159

7,936

10,841

Short-Term

Income

Fund

14,364

832

13,692

Small-MidCap

Dividend

Income

Fund

8,466

3,830

5,153

Spectrum

Preferred

and

Capital

Securities

Income

Fund

11,119

928

10,187

$

561,392

$

47,610

$

66,491

$

537,056

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(78)

$

—

$

(1,104)

Bond

Market

Index

Fund

—

(14)

—

Core

Fixed

Income

Fund

615

(138)

—

(564)

Diversified

Real

Asset

Fund

—

649

Equity

Income

Account

—

(12)

—

527

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(16)

—

(392)

Global

Emerging

Markets

Fund

—

(7)

—

Global

Listed

Infrastructure

Fund

—

—

Global

Macro

Fund

—

—

—

Government

&

High

Quality

Bond

Account

—

(2)

—

High

Yield

Fund

—

(449)

Inflation

Protection

Fund

—

(437)

—

589

International

Equity

Index

Fund

—

611

—

International

Small

Company

Fund

—

655

—

(596)

LargeCap

Growth

Fund

I

—

—

(809)

LargeCap

S&P

500

Index

Fund

—

—

(1,033)

LargeCap

Value

Fund

III

—

(32)

—

MidCap

Account

—

—

(390)

Overseas

Fund

—

—

Principal

Capital

Appreciation

Fund

—

(2)

—

(1,790)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

Principal

International

Equity

ETF

—

—

—

1,013

Principal

U.S.

Mega-Cap

ETF

—

4,081

—

(7,962)

Principal

U.S.

Small-Cap

ETF

—

—

—

(149)

Principal

Value

ETF

—

—

—

(45)

Real

Estate

Securities

Account

—

(3)

—

(176)

Short-Term

Income

Fund

—

(71)

Small-MidCap

Dividend

Income

Fund

—

(1)

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(3)

—

(233)

$

1,675

$

5,792

$

—

$

(11,247)

Amounts

in

thousands.

Schedule

of

Investments

SAM

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Australia

Year

Bond;

June

2026

Long

$

$

(2)

Canada

Year

Bond;

June

2026

Long

(7)

Euro

Bond

Year

Bond;

June

2026

Long

870

(17)

Euro-BTP;

June

2026

Long

1,613

(50)

Euro-Oat;

June

2026

Long

1,235

(29)

Japan

Year

Bond

TSE;

June

2026

Long

2,463

(29)

UK

Year

Gilt;

June

2026

Long

929

(54)

Total

$

(188)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.92

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.83

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

7,338,637

$

7,339

Principal

Exchange-Traded

Funds

-

.24

%

Principal

International

Equity

ETF

(a) 177,241

6,019

Principal

U.S.

Mega-Cap

ETF

(a) 185,030

11,900

Principal

U.S.

Small-Cap

ETF

(a) 65,200

3,737

$

21,656

Principal

Funds,

Inc.

Class

-

.88

%

Blue

Chip

Fund

(a),(c)

46,690

1,712

Core

Fixed

Income

Fund

(a) 3,767,959

32,518

Diversified

Real

Asset

Fund

(a) 122,812

1,654

Global

Emerging

Markets

Fund

(a) 158,346

5,587

Global

Macro

Fund

(a) 163,406

1,739

High

Yield

Fund

(a) 1,058,494

6,954

International

Equity

Index

Fund

(a) 295,582

4,159

LargeCap

Growth

Fund

I

(a) 60,030

855

Small-MidCap

Dividend

Income

Fund

(a) 72,257

1,472

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 437,097

3,999

$

60,649

Principal

Funds,

Inc.

Institutional

Class

-

.63

%

Bond

Market

Index

Fund

(a) 1,177,059

10,052

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 1,119,839

10,583

Global

Listed

Infrastructure

Fund

(a) 55,765

715

Inflation

Protection

Fund

(a) 615,794

4,742

LargeCap

S&P

500

Index

Fund

(a) 158,849

4,918

LargeCap

Value

Fund

III

(a) 82,433

1,428

Overseas

Fund

(a) 336,128

3,939

Principal

Capital

Appreciation

Fund

(a) 90,909

7,524

Short-Term

Income

Fund

(a) 473,418

5,728

$

49,629

Principal

Variable

Contracts

Funds,

Inc. Class

-

.34

%

Equity

Income

Account

(a) 227,054

7,352

Government

&

High

Quality

Bond

Account

(a) 419,227

3,601

Real

Estate

Securities

Account

(a) 96,264

1,738

$

12,691

TOTAL

INVESTMENT

COMPANIES

$

151,964

Total

Investments

$

151,964

Other

Assets

and

Liabilities

- 0.08%

TOTAL

NET

ASSETS

-

100.00%

$

152,092

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

2,147

$

$

$

1,712

Bond

Market

Index

Fund

10,013

10,052

Core

Fixed

Income

Fund

36,292

546

4,004

32,518

Diversified

Real

Asset

Fund

1,852

1,654

Equity

Income

Account

7,988

563

1,366

7,352

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

8,849

2,101

10,583

Global

Emerging

Markets

Fund

4,630

1,617

740

5,587

Global

Listed

Infrastructure

Fund

746

—

715

Global

Macro

Fund

1,637

—

—

1,739

Government

&

High

Quality

Bond

Account

3,486

3,601

High

Yield

Fund

8,904

2,188

6,954

Inflation

Protection

Fund

6,186

1,517

4,742

International

Equity

Index

Fund

5,834

1,828

4,159

International

Small

Company

Fund

900

949

—

LargeCap

Growth

Fund

I

1,175

855

LargeCap

S&P

500

Index

Fund

2,308

3,001

4,918

LargeCap

Value

Fund

III

1,626

1,428

MidCap

Account

583

580

—

Overseas

Fund

5,330

1,680

3,939

Principal

Capital

Appreciation

Fund

7,641

938

770

7,524

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

7,993

1,030

1,684

7,339

Principal

International

Equity

ETF

5,842

—

—

6,019

Principal

U.S.

Mega-Cap

ETF

13,487

—

802

11,900

Principal

U.S.

Small-Cap

ETF

3,302

—

3,737

Real

Estate

Securities

Account

1,058

682

1,738

Short-Term

Income

Fund

5,847

703

794

5,728

Small-MidCap

Dividend

Income

Fund

1,741

1,472

Spectrum

Preferred

and

Capital

Securities

Income

Fund

3,998

597

508

3,999

$

161,395

$

14,127

$

22,209

$

151,964

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(28)

$

—

$

(230)

Bond

Market

Index

Fund

—

(7)

—

Core

Fixed

Income

Fund

(346)

—

Diversified

Real

Asset

Fund

—

Equity

Income

Account

—

—

(317)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(10)

—

(237)

Global

Emerging

Markets

Fund

—

(22)

—

Global

Listed

Infrastructure

Fund

—

—

Global

Macro

Fund

—

—

—

Government

&

High

Quality

Bond

Account

—

(4)

—

High

Yield

Fund

—

(157)

Inflation

Protection

Fund

—

(177)

—

International

Equity

Index

Fund

—

—

International

Small

Company

Fund

—

—

(211)

LargeCap

Growth

Fund

I

—

(5)

—

(119)

LargeCap

S&P

500

Index

Fund

—

(2)

—

(219)

LargeCap

Value

Fund

III

—

—

MidCap

Account

—

(80)

—

Overseas

Fund

—

—

Principal

Capital

Appreciation

Fund

—

(10)

—

(275)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

Principal

International

Equity

ETF

—

—

—

Principal

U.S.

Mega-Cap

ETF

—

—

(995)

Principal

U.S.

Small-Cap

ETF

—

—

—

(27)

Real

Estate

Securities

Account

—

(1)

—

Short-Term

Income

Fund

—

(30)

Small-MidCap

Dividend

Income

Fund

—

(4)

Spectrum

Preferred

and

Capital

Securities

Income

Fund

—

(90)

$

805

$

528

$

—

$

(1,877)

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Australia

Year

Bond;

June

2026

Long

$

$

(2)

Canada

Year

Bond;

June

2026

Long

(5)

Euro

Bond

Year

Bond;

June

2026

Long

580

(11)

Euro-BTP;

June

2026

Long

1,210

(37)

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Euro-Oat;

June

2026

Long

$

960

$

(23)

Japan

Year

Bond

TSE;

June

2026

Long

2,463

(29)

UK

Year

Gilt;

June

2026

Long

697

(41)

Total

$

(148)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.84

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

3,448,797

$

3,449

Principal

Exchange-Traded

Funds

-

.19

%

Principal

International

Equity

ETF

(a) 928,356

31,527

Principal

U.S.

Mega-Cap

ETF

(a) 892,311

57,387

Principal

U.S.

Small-Cap

ETF

(a) 368,400

21,118

Principal

Value

ETF

(a) 41,000

2,111

$

112,143

Principal

Funds,

Inc.

Class

-

.83

%

Blue

Chip

Fund

(a),(c)

214,872

7,879

Core

Fixed

Income

Fund

(a) 2,567,739

22,160

Diversified

Real

Asset

Fund

(a) 498,862

6,720

Global

Emerging

Markets

Fund

(a) 904,977

31,928

Global

Macro

Fund

(a) 321,800

3,424

High

Yield

Fund

(a) 1,183,783

7,777

International

Equity

Index

Fund

(a) 1,288,626

18,131

International

Small

Company

Fund

(a) 187,747

2,302

LargeCap

Growth

Fund

I

(a) 235,938

3,362

Small-MidCap

Dividend

Income

Fund

(a) 194,922

3,970

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 328,935

3,010

$

110,663

Principal

Funds,

Inc.

Institutional

Class

-

.05

%

Bond

Market

Index

Fund

(a) 1,262,024

10,778

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 809,428

7,649

Global

Listed

Infrastructure

Fund

(a) 340,285

4,366

Inflation

Protection

Fund

(a) 367,990

2,833

LargeCap

S&P

500

Index

Fund

(a) 671,704

20,796

LargeCap

Value

Fund

III

(a) 1,302,598

22,561

Overseas

Fund

(a) 2,372,336

27,804

Principal

Capital

Appreciation

Fund

(a) 576,867

47,741

$

144,528

Principal

Variable

Contracts

Funds,

Inc. Class

-

.12

%

Equity

Income

Account

(a) 964,957

31,245

Government

&

High

Quality

Bond

Account

(a) 250,714

2,154

Real

Estate

Securities

Account

(a) 460,683

8,320

$

41,719

TOTAL

INVESTMENT

COMPANIES

$

412,502

Total

Investments

$

412,502

Other

Assets

and

Liabilities

- (0.03)%

(117)

TOTAL

NET

ASSETS

-

100.00%

$

412,385

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

9,420

$

$

504

$

7,879

Bond

Market

Index

Fund

14,457

3,784

10,778

Core

Fixed

Income

Fund

23,420

1,311

22,160

Diversified

Real

Asset

Fund

6,554

553

6,720

Equity

Income

Account

28,887

2,962

1,170

31,245

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

4,164

3,716

7,649

Global

Emerging

Markets

Fund

24,122

7,774

31,928

Global

Listed

Infrastructure

Fund

4,136

—

4,366

Global

Macro

Fund

3,224

—

—

3,424

Government

&

High

Quality

Bond

Account

1,747

2,154

High

Yield

Fund

7,564

501

7,777

Inflation

Protection

Fund

5,918

3,148

2,833

International

Equity

Index

Fund

30,329

13,144

18,131

International

Small

Company

Fund

5,725

3,563

2,302

LargeCap

Growth

Fund

I

12,497

8,476

3,362

LargeCap

S&P

500

Index

Fund

9,030

12,926

20,796

LargeCap

Value

Fund

III

23,390

858

22,561

MidCap

Account

1,942

1,873

—

Overseas

Fund

30,928

3,370

27,804

Principal

Capital

Appreciation

Fund

50,147

868

47,741

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

3,982

4,090

4,623

3,449

Principal

International

Equity

ETF

30,599

—

—

31,527

Principal

U.S.

Mega-Cap

ETF

61,079

—

—

57,387

Principal

U.S.

Small-Cap

ETF

19,882

1,388

—

21,118

Principal

Value

ETF

—

2,146

—

2,111

Real

Estate

Securities

Account

4,419

3,979

8,320

Small-MidCap

Dividend

Income

Fund

6,474

2,897

3,970

Spectrum

Preferred

and

Capital

Securities

Income

Fund

3,244

3,010

$

427,280

$

41,095

$

51,346

$

412,502

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(41)

$

—

$

(1,143)

Bond

Market

Index

Fund

—

(3)

—

Core

Fixed

Income

Fund

(122)

—

(109)

Diversified

Real

Asset

Fund

—

577

Equity

Income

Account

—

—

538

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(2)

—

(187)

Global

Emerging

Markets

Fund

—

(3)

—

Global

Listed

Infrastructure

Fund

—

—

Global

Macro

Fund

—

—

—

Government

&

High

Quality

Bond

Account

—

—

—

(1)

High

Yield

Fund

(1)

—

(163)

Inflation

Protection

Fund

—

(113)

—

International

Equity

Index

Fund

—

562

—

International

Small

Company

Fund

—

873

—

(759)

LargeCap

Growth

Fund

I

—

—

(772)

LargeCap

S&P

500

Index

Fund

—

(5)

—

(926)

LargeCap

Value

Fund

III

—

(40)

—

MidCap

Account

—

—

(346)

Overseas

Fund

—

—

Principal

Capital

Appreciation

Fund

—

(13)

—

(1,892)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

Principal

International

Equity

ETF

—

—

—

928

Principal

U.S.

Mega-Cap

ETF

—

—

—

(3,692)

Principal

U.S.

Small-Cap

ETF

—

—

—

(152)

Principal

Value

ETF

—

—

—

(35)

Real

Estate

Securities

Account

—

(2)

—

Small-MidCap

Dividend

Income

Fund

—

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(3)

—

(66)

$

559

$

1,914

$

—

$

(6,441)

Amounts

in

thousands.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.87

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.77

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

7,575,813

$

7,576

Principal

Exchange-Traded

Funds

-

.29

%

Principal

Active

High

Yield

ETF

(a) 121,116

2,296

Principal

International

Equity

ETF

(a) 120,630

4,097

Principal

U.S.

Mega-Cap

ETF

(a) 89,407

5,750

Principal

U.S.

Small-Cap

ETF

(a) 28,000

1,605

$

13,748

Principal

Funds,

Inc.

Class

-

.96

%

Core

Fixed

Income

Fund

(a) 3,914,979

33,786

Diversified

Real

Asset

Fund

(a) 63,559

856

Global

Emerging

Markets

Fund

(a) 66,123

2,333

Global

Macro

Fund

(a) 133,332

1,419

High

Yield

Fund

(a) 568,189

3,733

International

Equity

Index

Fund

(a) 144,543

2,034

LargeCap

Growth

Fund

I

(a) 27,823

Small-MidCap

Dividend

Income

Fund

(a) 25,481

519

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 327,364

2,995

$

48,072

Principal

Funds,

Inc.

Institutional

Class

-

.29

%

Bond

Market

Index

Fund

(a) 807,860

6,899

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 1,129,321

10,672

Inflation

Protection

Fund

(a) 606,823

4,672

LargeCap

S&P

500

Index

Fund

(a) 35,645

1,104

LargeCap

Value

Fund

III

(a) 103,866

1,799

Overseas

Fund

(a) 76,827

900

Principal

Capital

Appreciation

Fund

(a) 32,793

2,714

Short-Term

Income

Fund

(a) 423,777

5,128

$

33,888

Principal

Variable

Contracts

Funds,

Inc. Class

-

.56

%

Equity

Income

Account

(a) 115,312

3,734

Government

&

High

Quality

Bond

Account

(a) 483,757

4,155

Real

Estate

Securities

Account

(a) 31,604

571

$

8,460

TOTAL

INVESTMENT

COMPANIES

$

111,744

Total

Investments

$

111,744

Other

Assets

and

Liabilities

- 0.13%

TOTAL

NET

ASSETS

-

100.00%

$

111,891

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

7,286

$

$

528

$

6,899

Core

Fixed

Income

Fund

34,022

1,246

1,116

33,786

Diversified

Real

Asset

Fund

860

856

Equity

Income

Account

4,138

525

3,734

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

8,637

2,462

10,672

Global

Emerging

Markets

Fund

880

1,591

2,333

Global

Macro

Fund

1,336

—

—

1,419

Government

&

High

Quality

Bond

Account

5,096

1,003

4,155

High

Yield

Fund

4,712

974

3,733

Inflation

Protection

Fund

5,854

1,235

4,672

International

Equity

Index

Fund

2,655

680

2,034

LargeCap

Growth

Fund

I

LargeCap

S&P

500

Index

Fund

615

570

1,104

LargeCap

Value

Fund

III

1,920

1,799

MidCap

Account

534

519

—

Overseas

Fund

1,057

900

Principal

Active

High

Yield

ETF

2,302

—

—

2,296

Principal

Capital

Appreciation

Fund

2,799

2,714

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

7,824

786

1,034

7,576

Principal

International

Equity

ETF

3,976

—

—

4,097

Principal

U.S.

Mega-Cap

ETF

6,804

—

669

5,750

Principal

U.S.

Small-Cap

ETF

1,559

—

1,605

Real

Estate

Securities

Account

584

571

Short-Term

Income

Fund

5,360

5,128

Small-MidCap

Dividend

Income

Fund

1,469

1,064

519

Spectrum

Preferred

and

Capital

Securities

Income

Fund

3,069

2,995

$

115,749

$

7,751

$

10,883

$

111,744

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

—

$

$

—

$

Core

Fixed

Income

Fund

(104)

—

(262)

Diversified

Real

Asset

Fund

—

Equity

Income

Account

—

—

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(3)

—

(241)

Global

Emerging

Markets

Fund

—

(3)

—

(92)

Global

Macro

Fund

—

—

—

Government

&

High

Quality

Bond

Account

—

(4)

—

High

Yield

Fund

(3)

—

(79)

Inflation

Protection

Fund

—

(148)

—

International

Equity

Index

Fund

—

—

LargeCap

Growth

Fund

I

—

(1)

—

(48)

LargeCap

S&P

500

Index

Fund

—

—

(50)

LargeCap

Value

Fund

III

—

(11)

—

MidCap

Account

—

(75)

—

Overseas

Fund

—

—

(7)

Principal

Active

High

Yield

ETF

—

—

(6)

Principal

Capital

Appreciation

Fund

—

(3)

—

(107)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

Principal

International

Equity

ETF

—

—

—

Principal

U.S.

Mega-Cap

ETF

—

—

(803)

Principal

U.S.

Small-Cap

ETF

—

—

—

(12)

Real

Estate

Securities

Account

—

—

Short-Term

Income

Fund

—

(27)

Small-MidCap

Dividend

Income

Fund

—

(134)

Spectrum

Preferred

and

Capital

Securities

Income

Fund

—

—

(69)

$

735

$

$

—

$

(1,290)

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Australia

Year

Bond;

June

2026

Long

$

$

(2)

Canada

Year

Bond;

June

2026

Long

(5)

Euro

Bond

Year

Bond;

June

2026

Long

725

(14)

Euro-BTP;

June

2026

Long

1,344

(42)

Euro-Oat;

June

2026

Long

960

(23)

Japan

Year

Bond

TSE;

June

2026

Long

2,463

(29)

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

UK

Year

Gilt;

June

2026

Long

$

813

$

(47)

Total

$

(162)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.66

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b)

3,145,315

$

3,145

Principal

Exchange-Traded

Funds

-

.82

%

Principal

International

Equity

ETF

(a) 1,135,722

38,569

Principal

U.S.

Mega-Cap

ETF

(a) 1,078,000

69,328

Principal

U.S.

Small-Cap

ETF

(a) 502,100

28,783

Principal

Value

ETF

(a) 95,000

4,892

$

141,572

Principal

Funds,

Inc.

Class

-

.59

%

Blue

Chip

Fund

(a),(c)

302,630

11,097

Diversified

Real

Asset

Fund

(a) 628,220

8,462

Global

Emerging

Markets

Fund

(a) 1,459,371

51,487

Global

Macro

Fund

(a) 370,922

3,947

International

Equity

Index

Fund

(a) 1,142,158

16,070

International

Small

Company

Fund

(a) 477,378

5,853

LargeCap

Growth

Fund

I

(a) 408,354

5,819

Small-MidCap

Dividend

Income

Fund

(a) 221,169

4,505

$

107,240

Principal

Funds,

Inc.

Institutional

Class

-

.22

%

Global

Listed

Infrastructure

Fund

(a) 358,317

4,597

Inflation

Protection

Fund

(a) 560,152

4,313

LargeCap

S&P

500

Index

Fund

(a) 832,137

25,763

LargeCap

Value

Fund

III

(a) 1,525,422

26,420

Overseas

Fund

(a) 3,301,312

38,692

Principal

Capital

Appreciation

Fund

(a) 757,266

62,671

$

162,456

Principal

Variable

Contracts

Funds,

Inc. Class

-

.74

%

Equity

Income

Account

(a) 1,766,838

57,210

Real

Estate

Securities

Account

(a) 181,617

3,280

$

60,490

TOTAL

INVESTMENT

COMPANIES

$

474,903

Total

Investments

$

474,903

Other

Assets

and

Liabilities

- (0.03)%

(140)

TOTAL

NET

ASSETS

-

100.00%

$

474,763

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

12,997

$

$

621

$

11,097

Diversified

Real

Asset

Fund

8,324

775

8,462

Equity

Income

Account

37,727

19,690

57,210

Global

Emerging

Markets

Fund

33,842

17,791

51,487

Global

Listed

Infrastructure

Fund

4,677

—

536

4,597

Global

Macro

Fund

3,717

—

—

3,947

Inflation

Protection

Fund

4,873

617

4,313

International

Equity

Index

Fund

37,290

22,744

16,070

International

Small

Company

Fund

10,889

5,166

5,853

LargeCap

Growth

Fund

I

21,238

14,325

5,819

LargeCap

S&P

500

Index

Fund

14,128

13,998

1,226

25,763

LargeCap

Value

Fund

III

30,334

4,216

26,420

MidCap

Account

2,543

2,455

—

Overseas

Fund

42,601

4,305

38,692

Principal

Capital

Appreciation

Fund

65,727

669

1,219

62,671

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

4,524

1,030

2,409

3,145

Principal

International

Equity

ETF

37,433

—

—

38,569

Principal

U.S.

Mega-Cap

ETF

73,789

—

69,328

Principal

U.S.

Small-Cap

ETF

27,139

1,850

—

28,783

Principal

Value

ETF

2,453

2,513

—

4,892

Real

Estate

Securities

Account

4,290

1,206

3,280

Small-MidCap

Dividend

Income

Fund

11,389

7,692

4,505

$

491,924

$

58,565

$

70,226

$

474,903

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

(59)

$

—

$

(1,596)

Diversified

Real

Asset

Fund

—

733

Equity

Income

Account

—

(21)

—

Global

Emerging

Markets

Fund

—

(15)

—

Global

Listed

Infrastructure

Fund

—

—

Global

Macro

Fund

—

—

—

Inflation

Protection

Fund

—

(11)

—

International

Equity

Index

Fund

—

1,101

—

International

Small

Company

Fund

—

1,205

—

(1,101)

LargeCap

Growth

Fund

I

—

—

(1,236)

LargeCap

S&P

500

Index

Fund

—

—

(1,331)

LargeCap

Value

Fund

III

—

—

MidCap

Account

—

502

—

(599)

Overseas

Fund

—

—

Principal

Capital

Appreciation

Fund

—

(16)

—

(2,490)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

—

—

—

Principal

International

Equity

ETF

—

—

—

1,136

Principal

U.S.

Mega-Cap

ETF

—

—

—

(4,460)

Principal

U.S.

Small-Cap

ETF

—

—

—

(206)

Principal

Value

ETF

—

—

—

(74)

Real

Estate

Securities

Account

—

—

Small-MidCap

Dividend

Income

Fund

850

—

(94)

$

$

4,062

$

—

$

(9,422)

Amounts

in

thousands.

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.13

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.13

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

924,660

$

925

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(c)

3,162,378

3,162

$

4,087

TOTAL

INVESTMENT

COMPANIES

$

4,087

BONDS

-

.35

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

.56

%

BAE

Systems

PLC

5.13%,

03/26/2029

(d) $

$

General

Electric

Co

4.30%,

07/29/2030

Lockheed

Martin

Corp

4.50%,

02/15/2029

650

656

Northrop

Grumman

Corp

4.60%,

02/01/2029

500

503

RTX

Corp

5.75%,

11/08/2026

$

2,045

Agriculture

-

.57

%

Bunge

Ltd

Finance

Corp

4.10%,

01/07/2028

4.20%,

09/17/2029

500

$

744

Airlines

-

.61

%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(d) 398

AS

Mileage

Plan

IP

Ltd

5.02%,

10/20/2029

(d) 400

$

794

Automobile

Asset

Backed

Securities

-

.99

%

AmeriCredit

Automobile

Receivables

Trust

2025-1

4.22%,

03/19/2029

(d) 230

AmeriCredit

Automobile

Receivables

Trust

2026-1

4.03%,

04/18/2029

(d) 500

500

BofA

Auto

Trust

2025-1

4.52%,

11/22/2027

(d) 96

Chase

Auto

Owner

Trust

2025-1

4.40%,

07/25/2028

(d) 182

Consumer

Portfolio

Services

Auto

Trust

2025-A

4.77%,

10/16/2028

(d) 90

Consumer

Portfolio

Services

Auto

Trust

2025-B

4.74%,

02/15/2029

(d) 89

CPS

Auto

Receivables

Trust

2024-D

4.91%,

06/15/2028

(d) 19

CPS

Auto

Receivables

Trust

2025-C

4.71%,

03/15/2029

(d) 56

GM

Financial

Consumer

Automobile

Receivables

Trust

2024-4

4.53%,

10/18/2027

GM

Financial

Consumer

Automobile

Receivables

Trust

2025-1

4.44%,

01/18/2028

GM

Financial

Consumer

Automobile

Receivables

Trust

2025-3

4.32%,

06/16/2028

GM

Financial

Consumer

Automobile

Receivables

Trust

2025-4

3.88%,

12/18/2028

500

500

LAD

Auto

Receivables

Trust

2025-3

4.06%,

03/15/2029

(d) 300

Nissan

Auto

Receivables

2024-B

Owner

Trust

4.51%,

06/15/2027

Nissan

Auto

Receivables

2025-B

Owner

Trust

4.00%,

07/17/2028

500

500

Onemain

Direct

Auto

Receivables

Trust

2022-1

4.65%,

03/14/2029

(d) 23

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

(continued)

Toyota

Auto

Loan

Extended

Note

Trust

2023-1

4.93%,

06/25/2036

(d) $

$

Toyota

Auto

Receivables

2024-D

Owner

Trust

4.55%,

08/16/2027

Westlake

Automobile

Receivables

Trust

2024-3

4.82%,

09/15/2027

(d) 24

Westlake

Automobile

Receivables

Trust

2025-1

4.66%,

01/18/2028

(d) 118

Westlake

Automobile

Receivables

Trust

2025-2

4.66%,

09/15/2028

(d) 83

Westlake

Automobile

Receivables

Trust

2025-3

4.31%,

04/17/2028

(d) 241

Westlake

Automobile

Receivables

Trust

2025-P1

4.65%,

02/15/2028

(d) 70

World

Omni

Auto

Receivables

Trust

2025-C

4.19%,

10/16/2028

World

Omni

Auto

Receivables

Trust

2025-D

3.91%,

02/15/2029

500

World

Omni

Auto

Receivables

Trust

2026-A

3.71%,

04/16/2029

World

Omni

Select

Auto

Trust

2025-A

4.14%,

05/15/2030

$

5,217

Banks

-

.83

%

Bank

of

America

Corp

4.98%,

01/24/2029

(e) 350

Secured

Overnight

Financing

Rate

+

0.83%

5.16%,

01/24/2031

(e) 350

Secured

Overnight

Financing

Rate

+

1.00%

Bank

of

Ireland

Group

PLC

5.60%,

03/20/2030

(d),(e)

500

513

Secured

Overnight

Financing

Rate

+

1.62%

Bank

of

Montreal

4.34%,

03/19/2030

(e),(f)

500

Secured

Overnight

Financing

Rate

+

0.89%

Bank

of

New

York

Mellon

Corp/The

4.44%,

06/09/2028

(e) 300

Secured

Overnight

Financing

Rate

+

0.68%

Bank

of

New

York

Mellon/The

4.73%,

04/20/2029

(e) 250

Secured

Overnight

Financing

Rate

+

1.14%

Bank

of

Nova

Scotia/The

1.30%,

09/15/2026

4.25%,

02/02/2030

(e) 350

Secured

Overnight

Financing

Rate

+

0.73%

4.40%,

09/08/2028

(e) 400

Secured

Overnight

Financing

Rate

+

1.00%

Barclays

PLC

2.28%,

11/24/2027

(e) 500

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

4.22%,

05/24/2030

(e) 400

Secured

Overnight

Financing

Rate

+

0.93%

BNP

Paribas

SA

4.79%,

05/09/2029

(d),(e)

Secured

Overnight

Financing

Rate

+

1.45%

5.09%,

05/09/2031

(d),(e)

Secured

Overnight

Financing

Rate

+

1.68%

Canadian

Imperial

Bank

of

Commerce

5.93%,

10/02/2026

5.99%,

10/03/2028

Citibank

NA

4.88%,

11/19/2027

(e) 250

Secured

Overnight

Financing

Rate

+

0.71%

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Citigroup

Inc

4.54%,

09/19/2030

(e) $

$

Secured

Overnight

Financing

Rate

+

1.34%

5.17%,

02/13/2030

(e) 400

Secured

Overnight

Financing

Rate

+

1.36%

Danske

Bank

A/S

5.00%,

03/27/2032

(d),(e)

500

501

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.98%

Deutsche

Bank

AG/New

York

NY

4.47%,

12/10/2031

(e) 150

Secured

Overnight

Financing

Rate

+

1.10%

5.41%,

05/10/2029

6.82%,

11/20/2029

(e) 400

Secured

Overnight

Financing

Rate

+

2.51%

Fifth

Third

Bancorp

4.89%,

09/06/2030

(e) 100

Secured

Overnight

Financing

Rate

+

1.49%

Goldman

Sachs

Group

Inc/The

2.64%,

02/24/2028

(e) 500

Secured

Overnight

Financing

Rate

+

1.11%

4.48%,

08/23/2028

(e) 500

500

Secured

Overnight

Financing

Rate

+

1.73%

4.52%,

01/21/2032

(e) 200

Secured

Overnight

Financing

Rate

+

0.96%

5.21%,

01/28/2031

(e) 500

508

Secured

Overnight

Financing

Rate

+

1.08%

5.22%,

04/23/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

04/25/2030

(e) 400

Secured

Overnight

Financing

Rate

+

1.27%

Huntington

Bancshares

Inc/OH

4.62%,

01/28/2032

(e) 400

Secured

Overnight

Financing

Rate

+

0.99%

JPMorgan

Chase

&

Co

4.45%,

12/05/2029

(e) 350

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

4.51%,

10/22/2028

(e) 200

Secured

Overnight

Financing

Rate

+

0.86%

4.92%,

01/24/2029

(e) 250

Secured

Overnight

Financing

Rate

+

0.80%

5.57%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

0.93%

5.58%,

04/22/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.16%

Keybank

National

Association

5.85%,

11/15/2027

600

613

Lloyds

Banking

Group

PLC

4.24%,

02/10/2030

(e) 250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.60%

Mizuho

Financial

Group

Inc

4.71%,

07/08/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.92%

Morgan

Stanley

1.59%,

05/04/2027

(e) 550

548

Secured

Overnight

Financing

Rate

+

0.88%

2.48%,

01/21/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.00%

4.65%,

10/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.10%

5.17%,

01/16/2030

(e) 450

Secured

Overnight

Financing

Rate

+

1.45%

5.23%,

01/15/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.11%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

(continued)

5.65%,

04/13/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

1.01%

5.66%,

04/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.26%

Morgan

Stanley

Bank

NA

5.02%,

01/12/2029

(e) 400

Secured

Overnight

Financing

Rate

+

0.91%

NatWest

Group

PLC

4.93%,

11/15/2028

Secured

Overnight

Financing

Rate

+

1.30%

4.96%,

08/15/2030

(e) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.22%

PNC

Bank

NA

4.54%,

05/13/2027

(e) 250

Secured

Overnight

Financing

Rate

+

0.63%

PNC

Financial

Services

Group

Inc/The

4.90%,

05/13/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.33%

5.22%,

01/29/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.07%

Royal

Bank

of

Canada

4.70%,

08/06/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.06%

Societe

Generale

SA

5.50%,

04/13/2029

(d),(e)

500

507

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.20%

5.51%,

05/22/2031

(d),(e)

Secured

Overnight

Financing

Rate

+

1.65%

Swedbank

AB

5.00%,

11/20/2029

(d),(f)

Texas

Capital

Bancshares

Inc

5.30%,

02/27/2032

(e) 500

Secured

Overnight

Financing

Rate

+

1.94%

Truist

Financial

Corp

4.60%,

01/27/2032

(e) 150

Secured

Overnight

Financing

Rate

+

0.97%

7.16%,

10/30/2029

(e) 300

Secured

Overnight

Financing

Rate

+

2.45%

UBS

Group

AG

3.87%,

01/12/2029

(d),(e)

750

741

Month

USD

LIBOR

+

1.41%

US

Bancorp

4.48%,

01/26/2032

(e) 350

Secured

Overnight

Financing

Rate

+

0.87%

5.10%,

07/23/2030

(e) 150

Secured

Overnight

Financing

Rate

+

1.25%

5.38%,

01/23/2030

(e) 175

Secured

Overnight

Financing

Rate

+

1.56%

US

Bank

NA/Cincinnati

OH

4.73%,

05/15/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.91%

Wells

Fargo

&

Co

5.15%,

04/23/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.50%

5.24%,

01/24/2031

(e) 175

Secured

Overnight

Financing

Rate

+

1.11%

5.71%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.07%

$

21,988

Biotechnology

-

.47

%

Amgen

Inc

5.15%,

03/02/2028

Gilead

Sciences

Inc

4.80%,

11/15/2029

$

610

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Building

Materials

-

.23

%

Vulcan

Materials

Co

4.95%,

12/01/2029

$

$

Chemicals

-

.20

%

Westlake

Corp

3.60%,

08/15/2026

Commercial

Mortgage

Backed

Securities

-

.39

%

1301

Trust

2025-AOA

5.06%,

08/11/2042

(d),(g)

ALA

Trust

2025-OANA

5.42%,

06/15/2040

(d) 200

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.74%

Arbor

Multifamily

Mortgage

Securities

Trust

2022-MF4

3.27%,

02/15/2055

(d),(g)

ARES

Trust

2025-IND3

5.17%,

04/15/2042

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

BFLD

Commercial

Mortgage

Trust

2024-UNIV

5.17%,

11/15/2041

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.49%

BFLD

Commercial

Mortgage

Trust

2025-5MW

4.67%,

10/10/2042

(d),(g)

BFLD

Commercial

Mortgage

Trust

2025-660F

5.17%,

11/15/2042

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

BX

2024-PALM

5.21%,

06/15/2037

(d) 260

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.54%

BX

Commercial

Mortgage

Trust

2021-ACNT

4.64%,

11/15/2038

(d) 299

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.96%

BX

Commercial

Mortgage

Trust

2024-AIRC

5.36%,

08/15/2041

(d) 434

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

BX

Commercial

Mortgage

Trust

2024-GPA3

4.97%,

12/15/2039

(d) 157

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

BX

Commercial

Mortgage

Trust

2026-VLT9

5.37%,

03/15/2045

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.70%

BX

Trust

2021-BXMF

4.42%,

10/15/2026

(d) 269

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.75%

BX

Trust

2021-LGCY

4.29%,

10/15/2036

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.62%

BX

Trust

2025-DIME

4.82%,

02/15/2035

(d) 350

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.15%

BX

Trust

2025-TAIL

5.07%,

06/15/2035

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

BX

Trust

2025-VOLT

5.37%,

12/15/2044

(d) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.70%

BX

Trust

2026-OPTM

4.95%,

03/15/2039

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

CHI

Commercial

Mortgage

Trust

2025-110W

5.10%,

12/13/2040

(d),(g)

CRSNT

Trust

2026-MOON

5.07%,

02/15/2031

(d) 400

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

DBC

2025-DBC

Mortgage

Trust

5.02%,

11/15/2042

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

ELP

Commercial

Mortgage

Trust

2025-ELP

4.30%,

11/13/2042

(d),(g)

GSAT

Trust

2025-BMF

5.17%,

07/15/2040

(d) 200

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

GSJP

Trust

2025-BEDS

5.17%,

12/15/2042

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

KRE

Commercial

Mortgage

Trust

2025-AIP4

4.97%,

03/15/2042

(d) 374

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

LBA

Trust

2024-7IND

5.12%,

10/15/2041

(d) 213

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

LEX

Trust

2026-450

5.02%,

03/15/2043

(d) 150

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

Life

2022-BMR

Mortgage

Trust

4.97%,

05/15/2039

(d) 800

772

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

MED

Commercial

Mortgage

Trust

2024-MOB

5.26%,

05/15/2041

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

MHP

2021-STOR

4.49%,

07/15/2038

(d) 650

650

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.81%

NYC

Commercial

Mortgage

Trust

2025-28L

4.82%,

11/05/2038

(d),(g)

NYC

Commercial

Mortgage

Trust

2026-1PARK

4.93%,

02/15/2043

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

PENN

Commercial

Mortgage

Trust

2025-P11

5.34%,

08/10/2042

(d),(g)

PRM5

Trust

2025-PRM5

4.17%,

03/10/2033

(d),(g)

SLG

Office

Trust

2026-OMA

0.00%,

04/15/2041

(d),(g),(h),(i)

500

500

SPGN

Trust

2026-TFLM

4.97%,

02/15/2041

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

TEXAS

Commercial

Mortgage

Trust

2025-TWR

4.97%,

04/15/2042

(d) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

WB

Commercial

Mortgage

Trust

2024-HQ

5.54%,

03/15/2040

(d),(g)

500

501

$

12,268

Computers

-

.19

%

Apple

Inc

4.00%,

05/12/2028

Dell

International

LLC

/

EMC

Corp

4.75%,

04/01/2028

5.00%,

04/01/2030

Hewlett

Packard

Enterprise

Co

4.40%,

09/25/2027

600

599

4.55%,

10/15/2029

$

1,550

Diversified

Financial

Services

-

.63

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

4.38%,

11/15/2030

6.45%,

04/15/2027

Citadel

Finance

LLC

5.15%,

02/14/2031

(d) 280

$

826

Electric

-

.25

%

Alliant

Energy

Finance

LLC

5.95%,

03/30/2029

(d) 500

519

Black

Hills

Corp

4.55%,

01/31/2031

Consumers

Energy

Co

4.90%,

02/15/2029

Dominion

Energy

Inc

4.60%,

05/15/2028

DTE

Energy

Co

3.40%,

06/15/2029

5.10%,

03/01/2029

Evergy

Inc

4.25%,

03/15/2029

Evergy

Kansas

Central

Inc

4.70%,

03/13/2028

Exelon

Corp

5.15%,

03/15/2029

Fortis

Inc/Canada

3.06%,

10/04/2026

656

651

ITC

Holdings

Corp

4.88%,

04/15/2031

(d),(h)

NextEra

Energy

Capital

Holdings

Inc

4.69%,

09/01/2027

4.90%,

02/28/2028

4.90%,

03/15/2029

NRG

Energy

Inc

4.73%,

10/15/2030

(d) 150

OGE

Energy

Corp

5.45%,

05/15/2029

PacifiCorp

4.25%,

03/15/2029

5.10%,

02/15/2029

Public

Service

Enterprise

Group

Inc

4.90%,

03/15/2030

5.20%,

04/01/2029

5.88%,

10/15/2028

Southern

Co/The

5.50%,

03/15/2029

500

515

Southern

Power

Co

4.25%,

10/01/2030

Tampa

Electric

Co

4.90%,

03/01/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Vistra

Operations

Co

LLC

3.70%,

01/30/2027

(d) $

800

$

793

WEC

Energy

Group

Inc

4.75%,

01/15/2028

Wisconsin

Public

Service

Corp

4.55%,

12/01/2029

Xcel

Energy

Inc

1.75%,

03/15/2027

$

8,167

Electronics

-

.19

%

Tyco

Electronics

Group

SA

4.50%,

02/09/2031

Environmental

Control

-

.23

%

Republic

Services

Inc

4.75%,

07/15/2030

Food

-

.39

%

Mars

Inc

4.60%,

03/01/2028

(d) 200

4.80%,

03/01/2030

(d) 300

$

504

Gas

-

.12

%

NiSource

Inc

5.25%,

03/30/2028

Healthcare

-

Products

-

.29

%

Abbott

Laboratories

3.70%,

03/09/2029

500

4.00%,

03/15/2031

600

591

Augusta

SpinCo

Corp

4.40%,

03/23/2029

4.66%,

03/23/2031

Solventum

Corp

5.40%,

03/01/2029

$

1,682

Healthcare

-

Services

-

.73

%

HCA

Inc

4.30%,

11/15/2030

5.25%,

06/15/2026

700

701

5.88%,

02/01/2029

$

953

Home

Equity

Asset

Backed

Securities

-

.26

%

JP

Morgan

Mortgage

Trust

2023-HE1

5.42%,

11/25/2053

(d) 45

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.75%

JP

Morgan

Mortgage

Trust

2023-HE2

5.37%,

03/20/2054

(d) 231

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.70%

JP

Morgan

Mortgage

Trust

2023-HE3

5.27%,

05/20/2054

(d) 148

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.60%

JP

Morgan

Mortgage

Trust

2025-HE3

5.02%,

03/20/2056

(d) 351

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.35%

JP

Morgan

Mortgage

Trust

2026-CES1

4.91%,

06/25/2056

(d),(g)

JP

Morgan

Mortgage

Trust

Series

2024-CES1

5.92%,

06/25/2054

(d),(g)

JP

Morgan

Mortgage

Trust

Series

2024-HE3

4.87%,

02/25/2055

(d) 281

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.20%

JP

Morgan

Mortgage

Trust

Series

2025-CES1

5.67%,

05/25/2055

(d),(g)

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Home

Equity

Asset

Backed

Securities

(continued)

JP

Morgan

Mortgage

Trust

Series

2025-CES2

5.59%,

06/25/2055

(d),(g)

$

$

JP

Morgan

Mortgage

Trust

Series

2025-CES7

5.06%,

04/25/2056

(d),(g)

JP

Morgan

Mortgage

Trust

Series

2025-HE1

4.82%,

07/20/2055

(d) 425

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.15%

$

2,958

Insurance

-

.13

%

Aon

North

America

Inc

5.15%,

03/01/2029

700

715

Arthur

J

Gallagher

&

Co

4.85%,

12/15/2029

Brown

&

Brown

Inc

4.90%,

06/23/2030

Guardian

Life

Global

Funding

4.40%,

12/11/2030

(d) 250

Markel

Group

Inc

3.50%,

11/01/2027

New

York

Life

Global

Funding

4.60%,

12/05/2029

(d) 200

4.60%,

06/03/2030

(d) 350

Northwestern

Mutual

Global

Funding

4.96%,

01/13/2030

(d) 300

5.07%,

03/25/2027

(d) 500

504

$

2,780

Internet

-

.45

%

Alphabet

Inc

3.70%,

02/15/2029

3.88%,

11/15/2028

4.10%,

11/15/2030

Amazon.com

Inc

4.25%,

03/13/2031

500

eBay

Inc

1.40%,

05/10/2026

500

4.25%,

03/06/2029

$

1,889

Machinery

-

Diversified

-

.23

%

Ingersoll

Rand

Inc

5.20%,

06/15/2027

Westinghouse

Air

Brake

Technologies

Corp

4.90%,

05/29/2030

$

Media

-

.40

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

6.10%,

06/01/2029

500

518

Mining

-

.30

%

Anglo

American

Capital

PLC

4.63%,

03/19/2031

(d) 300

Glencore

Funding

LLC

5.19%,

04/01/2030

(d) 100

$

Miscellaneous

Manufacturers

-

.30

%

Eaton

Corp

3.95%,

03/06/2029

Mortgage

Backed

Securities

-

.69

%

Chase

Home

Lending

Mortgage

Trust

2025-3

5.50%,

02/25/2056

(d),(g)

Chase

Home

Lending

Mortgage

Trust

Series

2024-2

6.50%,

02/25/2055

(d),(g)

CHL

Mortgage

Pass-Through

Trust

2003-46

5.76%,

01/19/2034

(g) 6

GS

Mortgage-Backed

Securities

Corp

Trust

2021-PJ3

2.50%,

08/25/2051

(d),(g)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

JP

Morgan

Mortgage

Trust

2004-A3

6.45%,

07/25/2034

(g) $

$

JP

Morgan

Mortgage

Trust

2004-S1

5.00%,

09/25/2034

JP

Morgan

Mortgage

Trust

2021-1

2.50%,

06/25/2051

(d),(g)

JP

Morgan

Mortgage

Trust

2023-10

6.00%,

05/25/2054

(d),(g)

JP

Morgan

Mortgage

Trust

2023-8

6.00%,

02/25/2054

(d),(g)

570

572

JP

Morgan

Mortgage

Trust

Series

2026-ACES1

4.89%,

04/25/2066

(d),(g)

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2020-1

2.50%,

12/25/2050

(d),(g)

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2025-1

5.50%,

03/25/2055

(d),(g)

Oceanview

Mortgage

Trust

2021-3

2.50%,

06/25/2051

(d),(g)

PHH

Mortgage

Trust

Series

2008-CIM1

6.03%,

06/25/2038

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.36%

PSMC

2021-3

Trust

2.50%,

08/25/2051

(d),(g)

581

526

Sequoia

Mortgage

Trust

2020-4

2.50%,

11/25/2050

(d),(g)

Sequoia

Mortgage

Trust

2021-3

2.50%,

05/25/2051

(d),(g)

Sequoia

Mortgage

Trust

2021-4

2.50%,

06/25/2051

(d),(g)

Sequoia

Mortgage

Trust

2024-1

5.57%,

01/25/2054

(d),(g)

Sequoia

Mortgage

Trust

2024-2

5.98%,

03/25/2054

(d),(g)

Sequoia

Mortgage

Trust

2024-4

6.00%,

05/25/2054

(d),(g)

Sequoia

Mortgage

Trust

2026-HYB1

4.67%,

04/25/2056

(d),(g)

500

Wells

Fargo

Mortgage

Backed

Securities

2020-3

Trust

3.00%,

06/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2020-4

Trust

3.00%,

07/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2020-5

Trust

2.50%,

09/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2021-1

Trust

2.50%,

12/25/2050

(d),(g)

$

4,817

Oil

&

Gas

-

.01

%

Canadian

Natural

Resources

Ltd

5.00%,

12/15/2029

Diamondback

Energy

Inc

5.15%,

01/30/2030

5.20%,

04/18/2027

EOG

Resources

Inc

4.40%,

07/15/2028

Shell

Finance

US

Inc

4.13%,

11/06/2030

$

1,326

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

Services

-

.31

%

Schlumberger

Holdings

Corp

5.00%,

05/29/2027

(d) $

$

5.00%,

11/15/2029

(d) 200

$

Other

Asset

Backed

Securities

-

.18

%

1988

CLO

Ltd

4.87%,

04/15/2038

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

1988

CLO

Ltd

4.92%,

10/15/2038

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

Capital

CLO

II

4.96%,

07/15/2034

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

720

East

CLO

V

Ltd

5.20%,

07/20/2037

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.53%

AB

BSL

CLO

Ltd

4.97%,

04/20/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

Bardot

CLO

Ltd

4.65%,

10/22/2032

(d) 337

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.98%

CCG

Receivables

Trust

2024-1

4.99%,

03/15/2032

(d) 104

CCG

Receivables

Trust

2025-2

4.12%,

10/14/2026

(d) 57

4.14%,

08/15/2034

(d) 250

Cerberus

Loan

Funding

XXIV

LP

5.02%,

07/15/2030

(d) 223

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

CF

Hippolyta

Issuer

LLC

1.53%,

03/15/2061

(d) 832

669

1.69%,

07/15/2060

(d) 441

Dell

Equipment

Finance

Trust

2025-2

4.10%,

02/22/2028

(d) 250

DLLAA

2025-1

LLC

4.70%,

10/20/2027

(d) 165

DLLAD

2024-1

LLC

5.50%,

08/20/2027

(d) 66

DLLAD

2025-1

LLC

4.46%,

11/20/2028

(d) 200

Empower

CLO

2025-1

Ltd

4.98%,

07/20/2038

(d) 400

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.31%

Kubota

Credit

Owner

Trust

2026-1

3.84%,

01/16/2029

(d) 750

747

Lake

Shore

MM

CLO

II

Ltd

5.07%,

10/17/2031

(d) 164

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

Madison

Park

Funding

XL-R

Ltd

5.12%,

10/16/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

Magnetite

XLVII

Ltd

5.00%,

01/25/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.33%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Maranon

Loan

Funding

2021-3

Ltd

5.42%,

10/15/2036

(d) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

MVW

2021-1W

LLC

1.14%,

01/22/2041

(d) 15

MVW

2023-2

LLC

6.18%,

11/20/2040

(d) 212

MVW

2024-2

LLC

4.43%,

03/20/2042

(d) 312

Navesink

CLO

Ltd

4.86%,

01/15/2036

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.19%

New

Mountain

CLO

Ltd

5.07%,

10/15/2037

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

New

Mountain

CLO

Ltd

4.87%,

03/31/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

Oaktree

CLO

2019-4

Ltd

5.18%,

07/20/2037

(d) 500

500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

Oaktree

CLO

2024-25

Ltd

5.22%,

04/20/2037

(d) 500

500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.55%

PFS

Financing

Corp

4.18%,

03/17/2031

(d) 250

4.85%,

02/15/2030

(d) 450

4.95%,

02/15/2029

(d) 650

654

5.52%,

10/15/2028

(d) 200

Signal

Peak

CLO

Ltd

5.12%,

07/18/2037

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.45%

T-Mobile

US

Trust

2025-2

4.34%,

04/22/2030

(d) 200

Trafigura

Securitisation

Finance

PLC

5.98%,

11/15/2027

(d) 750

749

Verizon

Master

Trust

4.17%,

08/20/2030

4.35%,

08/20/2032

(d) 250

4.62%,

11/20/2030

5.16%,

06/20/2029

600

601

Verizon

Master

Trust

Series

2026-1

3.94%,

02/20/2031

$

13,301

Packaging

&

Containers

-

.66

%

Graphic

Packaging

International

LLC

1.51%,

04/15/2026

(d) 450

Smurfit

Kappa

Treasury

ULC

5.20%,

01/15/2030

$

857

Pharmaceuticals

-

.72

%

AbbVie

Inc

4.13%,

03/15/2031

4.80%,

03/15/2029

500

508

Astrazeneca

Finance

LLC

4.00%,

03/02/2031

500

4.85%,

02/26/2029

Eli

Lilly

&

Co

4.50%,

02/09/2029

500

505

4.55%,

02/12/2028

4.75%,

02/12/2030

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Novartis

Capital

Corp

3.90%,

11/05/2028

$

$

4.10%,

11/05/2030

Pfizer

Inc

3.88%,

11/15/2027

4.20%,

11/15/2030

$

3,553

Pipelines

-

.05

%

Columbia

Pipelines

Holding

Co

LLC

6.04%,

08/15/2028

(d) 525

542

6.06%,

08/15/2026

(d) 150

Enbridge

Inc

5.30%,

04/05/2029

5.90%,

11/15/2026

525

529

Energy

Transfer

LP

4.40%,

03/15/2027

5.55%,

02/15/2028

Kinder

Morgan

Inc

5.00%,

02/01/2029

500

507

5.10%,

08/01/2029

ONEOK

Inc

4.25%,

09/24/2027

500

4.40%,

10/15/2029

5.55%,

11/01/2026

Williams

Cos

Inc/The

4.63%,

06/30/2030

$

3,991

REITs

-

.74

%

American

Homes

Rent

LP

4.95%,

06/15/2030

American

Tower

Trust

#1

3.65%,

03/15/2048

(d) 270

5.49%,

03/15/2053

(d) 500

505

Omega

Healthcare

Investors

Inc

5.20%,

07/01/2030

Public

Storage

Operating

Co

4.33%,

04/16/2027

Secured

Overnight

Financing

Rate

+

0.70%

4.38%,

07/01/2030

SBA

Tower

Trust

1.63%,

05/15/2051

(d) 500

2.33%,

07/15/2052

(d) 653

629

Store

Capital

LLC

4.95%,

02/11/2031

(d) 300

Welltower

OP

LLC

4.50%,

07/01/2030

$

3,585

Semiconductors

-

.28

%

Advanced

Micro

Devices

Inc

4.21%,

09/24/2026

4.32%,

03/24/2028

Broadcom

Inc

4.60%,

07/15/2030

5.05%,

07/12/2029

Marvell

Technology

Inc

4.75%,

07/15/2030

Texas

Instruments

Inc

4.60%,

02/08/2029

500

507

$

1,667

Software

-

.02

%

Fidelity

National

Information

Services

Inc

4.55%,

03/10/2029

4.80%,

03/10/2031

Oracle

Corp

4.20%,

09/27/2029

4.80%,

08/03/2028

4.95%,

02/04/2031

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Roper

Technologies

Inc

4.50%,

10/15/2029

$

$

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

500

505

5.40%,

06/12/2029

$

2,635

Student

Loan

Asset

Backed

Securities

-

.03

%

Commonbond

Student

Loan

Trust

2018-BGS

3.56%,

09/25/2045

(d) 39

Commonbond

Student

Loan

Trust

2018-C-GS

3.87%,

02/25/2046

(d) 40

Commonbond

Student

Loan

Trust

2019-A-GS

2.54%,

01/25/2047

(d) 84

Commonbond

Student

Loan

Trust

2020-A-GS

1.98%,

08/25/2050

(d) 164

Commonbond

Student

Loan

Trust

2021-A-GS

1.20%,

03/25/2052

(d) 166

Commonbond

Student

Loan

Trust

2021-B-GS

1.17%,

09/25/2051

(d) 203

EDvestinU

Private

Education

Loan

Issue

No

LLC

1.80%,

11/25/2045

(d) 87

ELFI

Graduate

Loan

Program

2024-A

LLC

5.56%,

08/25/2049

(d) 402

Navient

Education

Loan

Trust

2025-A

5.02%,

07/15/2055

(d) 81

Navient

Private

Education

Refi

Loan

Trust

2019-A

3.42%,

01/15/2043

(d) 2

Navient

Private

Education

Refi

Loan

Trust

2019-G

2.40%,

10/15/2068

(d) 31

Navient

Private

Education

Refi

Loan

Trust

2020-D

1.69%,

05/15/2069

(d) 58

Navient

Private

Education

Refi

Loan

Trust

2020-F

1.22%,

07/15/2069

(d) 60

Navient

Private

Education

Refi

Loan

Trust

2020-G

1.17%,

09/16/2069

(d) 70

Navient

Private

Education

Refi

Loan

Trust

2020-H

1.31%,

01/15/2069

(d) 39

Navient

Private

Education

Refi

Loan

Trust

2021-A

0.84%,

05/15/2069

(d) 53

Navient

Private

Education

Refi

Loan

Trust

2021-B

0.94%,

07/15/2069

(d) 421

Navient

Private

Education

Refi

Loan

Trust

2021-C

1.06%,

10/15/2069

(d) 74

Navient

Private

Education

Refi

Loan

Trust

2021-E

0.97%,

12/16/2069

(d) 203

Navient

Private

Education

Refi

Loan

Trust

2021-F

1.11%,

02/18/2070

(d) 226

Navient

Private

Education

Refi

Loan

Trust

2022-A

2.23%,

07/15/2070

(d) 134

Navient

Private

Education

Refi

Loan

Trust

2023-A

5.51%,

10/15/2071

(d) 152

Navient

Private

Education

Refi

Loan

Trust

2024-A

5.66%,

10/15/2072

(d) 237

Navient

Refinance

Loan

Trust

2025-B

4.72%,

09/15/2055

(d) 259

Navient

Refinance

Loan

Trust

2026-A

4.50%,

01/18/2056

(d) 325

Nelnet

Student

Loan

Trust

2021-A

1.36%,

04/20/2062

(d) 264

Nelnet

Student

Loan

Trust

2021-C

1.32%,

04/20/2062

(d) 86

Nelnet

Student

Loan

Trust

2021-D

1.63%,

04/20/2062

(d) 167

SLM

Private

Credit

Student

Loan

Trust

2004-A

4.34%,

06/15/2033

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.66%

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Student

Loan

Asset

Backed

Securities

(continued)

SLM

Private

Credit

Student

Loan

Trust

2006-A

4.23%,

06/15/2039

$

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.55%

SLM

Private

Credit

Student

Loan

Trust

2006-B

4.14%,

12/15/2039

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.46%

SMB

Private

Education

Loan

Trust

2021-A

1.07%,

01/15/2053

(d) 194

SMB

Private

Education

Loan

Trust

2021-B

1.31%,

07/17/2051

(d) 167

SMB

Private

Education

Loan

Trust

2021-D

1.34%,

03/17/2053

(d) 301

SMB

Private

Education

Loan

Trust

2021-E

1.68%,

02/15/2051

(d) 216

SMB

Private

Education

Loan

Trust

2022-C

4.48%,

05/16/2050

(d) 236

$

5,267

Telecommunications

-

.42

%

AT&T

Inc

4.70%,

08/15/2030

Cisco

Systems

Inc

4.75%,

02/24/2030

4.85%,

02/26/2029

500

509

Crown

Castle

Towers

LLC

4.24%,

07/15/2048

(d) 290

NTT

Finance

Corp

4.62%,

07/16/2028

(d) 200

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

5.15%,

03/20/2028

(d) 200

$

1,858

Transportation

-

.30

%

Ryder

System

Inc

1.75%,

09/01/2026

TOTAL

BONDS

$

111,523

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.34

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.00

%

6.17%,

09/01/2035

$

$

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.25%

Federal

National

Mortgage

Association

(FNMA)

-

.01

%

5.86%,

02/01/2037

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

6.00%,

01/01/2035

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.75%

6.01%,

04/01/2033

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

6-Month

+

1.51%

6.02%,

12/01/2032

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.64%

6.14%,

07/01/2034

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.56%

6.37%,

08/01/2034

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.63%

$

U.S.

Treasury

-

.33

%

3.25%,

06/30/2029

2,900

2,847

3.88%,

07/31/2027

6,150

6,153

4.00%,

01/15/2027

5,600

5,611

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

4.50%,

07/15/2026

$

1,500

$

1,503

$

16,114

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

16,130

Total

Investments

$

131,740

Other

Assets

and

Liabilities

- (0.82)%

(1,071)

TOTAL

NET

ASSETS

-

100.00%

$

130,669

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$925

or

0.71%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$52,896

or

40.48%

of

net

assets.

(e) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(f) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$898

or

0.69%

of

net

assets.

(g) Certain

variable

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.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(h) Security

purchased

on

a

when-issued

basis.

(i) Non-income

producing

security

Schedule

of

Investments

Short-Term

Income

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

4,721

$

17,907

$

19,466

$

3,162

$

4,721

$

17,907

$

19,466

$

3,162

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury

Note;

June

2026

Long

$

2,697

$

—

US

Year

Treasury Note;

June

2026

Short

1,623

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.03

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.54%

(a),(b)

411,658

$

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(a),(b),(c)

6,436,734

6,437

$

6,848

TOTAL

INVESTMENT

COMPANIES

$

6,848

COMMON

STOCKS

-

.63

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.06

%

AAR

Corp

(d) 16,600

$

1,817

Kratos

Defense

&

Security

Solutions

Inc

(d) 23,700

1,671

$

3,488

Agriculture

-

.69

%

Darling

Ingredients

Inc

(d) 30,400

1,880

Vital

Farms

Inc

(d),(e)

69,500

982

$

2,862

Automobile

Parts

&

Equipment

-

.52

%

Visteon

Corp

9,700

884

Banks

-

.21

%

Ameris

Bancorp

24,800

1,934

First

Horizon

Corp

104,000

2,367

FNB

Corp/PA

115,758

1,935

Independent

Bank

Corp/MI

11,600

Old

National

Bancorp/IN

59,000

1,304

Popular

Inc

14,300

1,919

Renasant

Corp

28,800

1,041

UMB

Financial

Corp

22,500

2,538

Wintrust

Financial

Corp

15,900

2,209

$

15,633

Biotechnology

-

.97

%

Alumis

Inc

(d) 37,900

835

Axsome

Therapeutics

Inc

(d) 12,500

2,113

Bicycle

Therapeutics

PLC

ADR

(d) 45,500

Bridgebio

Pharma

Inc

(d) 40,200

2,985

Cytokinetics

Inc

(d) 31,200

2,056

Denali

Therapeutics

Inc

(d) 52,600

1,010

Immunocore

Holdings

PLC

ADR

(d) 20,500

618

Immunome

Inc

(d) 49,500

1,083

Insmed

Inc

(d) 25,100

4,104

Structure

Therapeutics

Inc

ADR

(d) 26,600

1,282

Viking

Therapeutics

Inc

(d) 19,300

628

$

16,925

Building

Materials

-

.80

%

Louisiana-Pacific

Corp

11,000

800

Modine

Manufacturing

Co

(d) 16,800

3,641

SPX

Technologies

Inc

(d) 10,080

2,015

$

6,456

Chemicals

-

.38

%

Ingevity

Corp

(d) 17,500

1,247

Perimeter

Solutions

Inc

(d) 44,800

1,094

$

2,341

Commercial

Services

-

.96

%

BOYD

GROUP

INC

5,500

703

Huron

Consulting

Group

Inc

(d) 15,600

1,989

Stride

Inc

(d) 26,500

2,337

$

5,029

Computers

-

.75

%

Netskope

Inc

(d) 91,100

773

Parsons

Corp

(d) 20,500

1,111

Varonis

Systems

Inc

(d) 50,600

1,086

$

2,970

Distribution

&

Wholesale

-

.32

%

WESCO

International

Inc

8,200

2,244

Diversified

Financial

Services

-

.26

%

Hamilton

Lane

Inc

14,200

1,411

Jefferson

Capital

Inc

56,500

1,087

Lazard

Inc

44,100

1,873

OneMain

Holdings

Inc

18,200

974

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Diversified

Financial

Services

(continued)

Stifel

Financial

Corp

25,450

$

1,881

$

7,226

Electric

-

.94

%

Algonquin

Power

&

Utilities

Corp

(e) 261,000

1,603

Electrical

Components

&

Equipment

-

.56

%

EnerSys

15,209

2,642

Electronics

-

.79

%

Advanced

Energy

Industries

Inc

14,200

4,583

TD

SYNNEX

Corp

10,932

1,844

$

6,427

Engineering

&

Construction

-

.86

%

Cardinal

Infrastructure

Group

Inc

(d) 9,990

Dycom

Industries

Inc

(d) 6,500

2,202

MYR

Group

Inc

(d) 7,200

2,033

Sterling

Infrastructure

Inc

(d) 3,900

1,589

Tutor

Perini

Corp

26,300

2,030

$

8,250

Entertainment

-

.98

%

TKO

Group

Holdings

Inc

8,200

1,654

Environmental

Control

-

.61

%

Montrose

Environmental

Group

Inc

(d) 47,500

1,040

Food

-

.72

%

Performance

Food

Group

Co

(d) 14,200

1,216

Gas

-

.71

%

Southwest

Gas

Holdings

Inc

33,400

2,902

Healthcare

-

Products

-

.58

%

Adaptive

Biotechnologies

Corp

(d) 47,700

662

Castle

Biosciences

Inc

(d) 63,600

1,561

Natera

Inc

(d) 10,800

2,160

$

4,383

Healthcare

-

Services

-

.03

%

Addus

HomeCare

Corp

(d) 11,900

1,115

LifeStance

Health

Group

Inc

(d) 101,300

645

Lumexa

Imaging

Holdings

Inc

(d) 24,262

Privia

Health

Group

Inc

(d) 75,500

1,553

RadNet

Inc

(d) 29,100

1,626

$

5,148

Home

Builders

-

.87

%

LCI

Industries

8,000

984

Taylor

Morrison

Home

Corp

(d) 37,700

2,195

$

3,179

Insurance

-

.72

%

CNO

Financial

Group

Inc

38,471

1,580

Essent

Group

Ltd

20,200

1,180

Lincoln

National

Corp

52,500

1,864

$

4,624

Internet

-

.63

%

Lyft

Inc

(d) 80,700

1,073

Investment

Companies

-

.57

%

Riot

Platforms

Inc

(d) 78,800

974

Iron

&

Steel

-

.82

%

Commercial

Metals

Co

22,600

1,388

Leisure

Products

&

Services

-

.55

%

Callaway

Golf

Co

(d) 112,500

1,562

Life

Time

Group

Holdings

Inc

(d) 67,500

1,818

Lindblad

Expeditions

Holdings

Inc

(d) 54,500

943

$

4,323

Machinery

-

Construction

&

Mining

-

.86

%

Forgent

Power

Solutions

Inc

(d),(e)

49,700

1,455

Machinery

-

Diversified

-

.18

%

Mueller

Water

Products

Inc

-

Class

A

73,000

2,007

Mining

-

.03

%

MP

Materials

Corp

(d) 15,100

729

Novagold

Resources

Inc

(d) 114,200

1,025

$

1,754

Schedule

of

Investments

SmallCap

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Miscellaneous

Manufacturers

-

.90

%

Entegris

Inc

9,600

$

1,125

Fabrinet

(d) 4,040

2,107

$

3,232

Oil

&

Gas

-

.84

%

Chord

Energy

Corp

9,100

1,294

Gulfport

Energy

Corp

(d) 11,600

2,454

Patterson-UTI

Energy

Inc

254,839

2,760

$

6,508

Oil

&

Gas

Services

-

.21

%

Helix

Energy

Solutions

Group

Inc

(d) 142,900

1,413

Solaris

Energy

Infrastructure

Inc

41,500

2,345

$

3,758

Pharmaceuticals

-

.26

%

Abivax

SA

ADR

(d) 8,700

969

AdaptHealth

Corp

(d) 78,000

928

BellRing

Brands

Inc

(d) 34,900

562

Collegium

Pharmaceutical

Inc

(d) 41,400

1,369

$

3,828

Pipelines

-

.76

%

Kinetik

Holdings

Inc

(e) 26,700

1,293

Real

Estate

-

.75

%

Newmark

Group

Inc

84,600

1,268

REITs

-

.79

%

American

Healthcare

REIT

Inc

18,800

887

American

Homes

Rent

42,900

1,198

Cousins

Properties

Inc

51,700

1,167

InvenTrust

Properties

Corp

46,100

1,404

Ladder

Capital

Corp

50,000

Rexford

Industrial

Realty

Inc

41,800

1,368

Sabra

Health

Care

REIT

Inc

83,900

1,613

$

8,125

Retail

-

.12

%

BJ's

Wholesale

Club

Holdings

Inc

(d) 9,900

974

Boot

Barn

Holdings

Inc

(d) 12,000

1,756

Cava

Group

Inc

(d) 10,700

866

$

3,596

Semiconductors

-

.49

%

Allegro

MicroSystems

Inc

(d) 50,700

1,598

SiTime

Corp

(d) 7,600

2,625

$

4,223

Software

-

.59

%

Agilysys

Inc

(d) 12,900

918

DigitalOcean

Holdings

Inc

(d) 18,400

1,578

JFrog

Ltd

(d) 38,800

1,821

ServiceTitan

Inc

(d) 14,100

895

Sophia

Genetics

SA

(d) 52,300

Via

Transportation

Inc

(d),(e)

40,877

613

$

6,084

Telecommunications

-

.17

%

Credo

Technology

Group

Holding

Ltd

(d) 21,175

1,988

Transportation

-

.82

%

ArcBest

Corp

14,100

1,387

TOTAL

COMMON

STOCKS

$

167,390

Total

Investments

$

174,238

Other

Assets

and

Liabilities

- (2.66)%

(4,517)

TOTAL

NET

ASSETS

-

100.00%

$

169,721

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,451

or

2.62%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,354

or

2.57%

of

net

assets.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

2,739

$

31,128

$

27,430

$

6,437

$

2,739

$

31,128

$

27,430

$

6,437

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

SmallCap

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

April

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.02

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.77

%

iShares

Core

S&P

500

ETF

(a) 23,941

$

15,638

State

Street

SPDR

Portfolio

S&P

500

ETF

(a) 53,137

4,067

State

Street

SPDR

S&P

500

ETF

Trust

(a) 4,810

3,128

Vanguard

S&P

500

ETF

(a) 7,848

4,690

$

27,523

Money

Market

Funds

-

.25

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(b),(c)

83,859

TOTAL

INVESTMENT

COMPANIES

$

27,607

TOTAL

PURCHASED

OPTIONS

-

17.86%

$

5,939

Total

Investments

$

33,546

Other

Assets

and

Liabilities

- (0.88)%

(291)

TOTAL

NET

ASSETS

-

100.00%

$

33,255

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,630

or

31.96%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

942

$

868

$

$

$

942

$

868

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Paid

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.53

03/31/2027

$

3,714

$

3,727

$

Put

-

S&P

500

Mini

Index

(a) N/A

$

652

.85

03/31/2027

2,277

2,212

(65)

Total

$

5,991

$

5,939

$

(52)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

718

.14

03/31/2027

$

(463)

$

(447)

$

Put

-

S&P

500

Mini

Index

(a) N/A

$

587

.57

03/31/2027

(1,360)

(1,326)

Total

$

(1,823)

$

(1,773)

$

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

January

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.34

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.22

%

iShares

Core

S&P

500

ETF

(a) 61,764

$

40,345

State

Street

SPDR

Portfolio

S&P

500

ETF

137,094

10,493

State

Street

SPDR

S&P

500

ETF

Trust

(a) 12,397

8,062

Vanguard

S&P

500

ETF

(a) 20,226

12,086

$

70,986

Money

Market

Funds

-

.12

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(b),(c)

92,086

TOTAL

INVESTMENT

COMPANIES

$

71,078

TOTAL

PURCHASED

OPTIONS

-

16.87%

$

13,274

Total

Investments

$

84,352

Other

Assets

and

Liabilities

- (7.21)%

(5,670)

TOTAL

NET

ASSETS

-

100.00%

$

78,682

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$30,958

or

39.35%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

1,305

$

47,634

$

48,847

$

$

1,305

$

47,634

$

48,847

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Paid

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.85

12/31/2026

$

7,210

$

6,881

$

(329)

Put

-

S&P

500

Mini

Index

(a) N/A

1,207

$

684

.55

12/31/2026

4,536

6,393

1,857

Total

$

11,746

$

13,274

$

1,528

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

753

.01

12/31/2026

$

(934)

$

(418)

$

516

Put

-

S&P

500

Mini

Index

(a) N/A

1,207

$

616

.10

12/31/2026

(2,566)

(3,601)

(1,035)

Total

$

(3,500)

$

(4,019)

$

(519)

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

July

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.65

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.54

%

iShares

Core

S&P

500

ETF

(a) 32,399

$

21,163

State

Street

SPDR

Portfolio

S&P

500

ETF

(a) 71,990

5,510

State

Street

SPDR

S&P

500

ETF

Trust

(a) 6,478

4,213

Vanguard

S&P

500

ETF

(a) 10,598

6,333

$

37,219

Money

Market

Funds

-

.11

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(b),(c)

46,504

TOTAL

INVESTMENT

COMPANIES

$

37,266

TOTAL

PURCHASED

OPTIONS

-

13.11%

$

5,513

Total

Investments

$

42,779

Other

Assets

and

Liabilities

- (1.76)%

(739)

TOTAL

NET

ASSETS

-

100.00%

$

42,040

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,237

or

31.49%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

$

$

$

$

$

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Paid

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.21

06/30/2026

$

4,356

$

4,517

$

Put

-

S&P

500

Mini

Index

(a) N/A

644

$

620

.50

06/30/2026

1,981

996

(985)

Total

$

6,337

$

5,513

$

(824)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

682

.55

06/30/2026

$

(381)

$

(244)

$

Put

-

S&P

500

Mini

Index

(a) N/A

644

$

558

.45

06/30/2026

(1,107)

(398)

709

Total

$

(1,488)

$

(642)

$

846

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

October

Account

March

31,

2026

(unaudited)

See

accompanying

notes.

INVESTMENT

COMPANIES

-

.61

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.50

%

iShares

Core

S&P

500

ETF

(a) 48,516

$

31,691

State

Street

SPDR

Portfolio

S&P

500

ETF

(a) 107,848

8,255

State

Street

SPDR

S&P

500

ETF

Trust

(a) 9,726

6,325

Vanguard

S&P

500

ETF

(a) 15,897

9,500

$

55,771

Money

Market

Funds

-

.11

%

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

(b),(c)

71,369

TOTAL

INVESTMENT

COMPANIES

$

55,842

TOTAL

PURCHASED

OPTIONS

-

14.91%

$

9,398

Total

Investments

$

65,240

Other

Assets

and

Liabilities

- (3.52)%

(2,218)

TOTAL

NET

ASSETS

-

100.00%

$

63,022

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$26,139

or

41.48%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2025

Purchases

Sales

March

31,

2026

Value

Cost

Proceeds

Value

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

6,393

$

6,326

$

$

$

6,393

$

6,326

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Funds,

Inc

-

Government

Money

Market

Fund

-

Class

3.55%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Paid

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.69

09/30/2026

$

5,764

$

5,602

$

(162)

Put

-

S&P

500

Mini

Index

(a) N/A

949

$

668

.85

09/30/2026

3,324

3,796

Total

$

9,088

$

9,398

$

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

735

.74

09/30/2026

$

(643)

$

(184)

$

Put

-

S&P

500

Mini

Index

(a) N/A

949

$

601

.97

09/30/2026

(1,893)

(1,904)

(11)

Total

$

(2,536)

$

(2,088)

$

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Glossary

to

the

Schedule

of

Investments

March

31,

2026

(unaudited)

See

accompanying

notes.

Currency

Abbreviations

USD/$

United

States

Dollar

March

31,

2026

(unaudited)

Security

Valuation.

Blue

Chip

Account,

Bond

Market

Index

Account,

Core

Plus

Bond

Account,

Diversified

Balanced

Account,

Diversified

Balanced

Adaptive

Allocation

Account,

Diversified

Balanced

Strategic

Allocation

Account,

Diversified

Growth

Account,

Diversified

Growth

Adaptive

Allocation

Account,

Diversified

Growth

Strategic

Allocation

Account,

Diversified

Income

Account,

Diversified

International

Account,

Equity

Income

Account,

Global

Emerging

Markets

Account,

Government

&

High

Quality

Bond

Account,

LargeCap

Growth

Account

I,

LargeCap

S&P

500

Index

Account,

MidCap

Account,

Principal

Capital

Appreciation

Account,

Principal

LifeTime

2020

Account,

Principal

LifeTime

2030

Account,

Principal

LifeTime

2040

Account,

Principal

LifeTime

2050

Account,

Principal

LifeTime

2060

Account,

Principal

LifeTime

Strategic

Income

Account,

Real

Estate

Securities

Account,

SAM

Balanced

Portfolio,

SAM

Conservative

Balanced

Portfolio,

SAM

Conservative

Growth

Portfolio,

SAM

Flexible

Income

Portfolio,

SAM

Strategic

Growth

Portfolio,

Short-Term

Income

Account,

SmallCap

Account,

U.S.

LargeCap

S&P

500

Index

Buffer

April

Account,

U.S.

LargeCap

S&P

500

Index

Buffer

January

Account,

U.S.

LargeCap

S&P

500

Index

Buffer

July

Account,

and

U.S.

LargeCap

S&P

500

Index

Buffer

October

Account

known

as

"the

Funds",

may

invest

in

other

series

of

Principal

Variable

Contracts

Funds,

Inc.

(the

"Fund")

and

Principal

Funds,

Inc.

and

other

investment

funds,

which

may

include

exchange-traded

funds,

money

market

funds

and

other

registered

open-end

investment

companies.

Investments

in

registered

open

end

investment

companies,

other

than

exchange-traded

funds,

are

valued

at

the

respective

fund's

closing

net

asset

value

per

share

on

the

day

of

valuation.

The

Funds

value

securities,

including

exchange-traded

fund,

for

which

market

quotations

are

readily

available

at

fair

value,

which

is

determined

using

the

last

reported

sale

price.

If

no

sales

are

reported,

as

is

regularly

the

case

for

some

securities

traded

over-the-counter,

securities

are

valued

using

the

last

reported

bid

price

or

an

evaluated

bid

price

provided

by

a

pricing

service.

Pricing

services

use

modeling

techniques

that

incorporate

security

characteristics

such

as

current

quotations

by

broker/dealers,

coupon,

maturity,

quality,

type

of

issue,

trading

characteristics,

other

yield

and

risk

factors,

and

other

market

conditions

to

determine

an

evaluated

bid

price,

or

in

the

case

of

certain

credit

default

swaps,

a

mean

price

provided

by

a

pricing

service.

When

reliable

market

quotations

are

not

considered

to

be

readily

available,

which

may

be

the

case,

for

example,

with

respect

to

restricted

securities,

certain

debt

securities,

preferred

stocks

and

foreign

securities,

the

investments

are

valued

at

their

fair

value

as

determined

in

good

faith

by

Principal

Global

Investors,

LLC

(the

"Manager")

under

procedures

established

and

periodically

reviewed

by

the

Fund's

Board

of

Directors.

The

value

of

foreign

securities

used

in

computing

the

net

asset

value

per

share

is

generally

determined

as

of

the

close

of

the

foreign

exchange

where

the

security

is

principally

traded.

Events

that

occur

after

the

close

of

the

applicable

foreign

market

or

exchange

but

prior

to

the

calculation

of

the

Funds'

net

asset

value

are

reflected

in

the

Funds'

net

asset

value

and

these

securities

are

valued

at

fair

value.

Many

factors,

provided

by

independent

pricing

services,

are

reviewed

in

the

course

of

making

a

good

faith

determination

of

a

security's

fair

value,

including,

but

not

limited

to,

price

movements

in

American

Depository

Receipts

("ADRs"),

futures

contracts,

industry

indices,

general

indices,

and

foreign

currencies.

To

the

extent

the

Funds

invests

in

foreign

securities

listed

on

foreign

exchanges

which

trade

on

days

on

which

the

Funds

do

not

determine

net

asset

value,

for

example

weekends

and

other

customary

national

U.S.

holidays,

the

Funds

net

asset

value

could

be

significantly

affected

on

days

when

shareholders

cannot

purchase

or

redeem

shares.

Certain

securities

issued

by

companies

in

emerging

market

countries

may

have

more

than

one

quoted

valuation

at

any

given

point

in

time,

sometimes

referred

to

as

a

"local"

price

and

a

"premium"

price.

The

premium

price

is

often

a

negotiated

price,

which

may

not

consistently

represent

a

price

at

which

a

specific

transaction

can

be

affected.

It

is

the

policy

of

the

Fund

to

value

such

securities

at

prices

at

which

it

is

expected

those

shares

may

be

sold,

and

the

Manager

or

any

Sub-Advisor

is

authorized

to

make

such

determinations

subject

to

such

oversight

by

the

Board

as

may

occasionally

be

necessary.

Fair

value

is

defined

as

the

price

that

the

Funds

would

receive

upon

selling

a

security

or

transferring

a

liability

in

a

timely

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

of

the

security

at

the

measurement

date.

In

determining

fair

value,

the

Funds

may

use

one

or

more

of

the

following

approaches:

market,

income

and/or

cost.

A

hierarchy

for

inputs

is

used

in

measuring

fair

value

that

maximizes

the

use

of

observable

inputs

and

minimizes

the

use

of

unobservable

inputs

by

requiring

that

the

most

observable

inputs

be

used

when

available.

Observable

inputs

are

inputs

that

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability

developed

based

on

market

data

obtained

from

sources

independent

of

the

Fund.

Unobservable

inputs

are

inputs

that

reflect

the

Fund's

own

estimates

about

the

estimates

market

participants

would

use

in

pricing

the

asset

or

liability

developed

based

on

the

best

information

available

in

the

circumstances.

March

31,

2026

(unaudited)

The

three-tier

hierarchy

of

inputs

is

summarized

in

the

three

broad

levels

listed

below.

Level

–

Quoted

prices

are

available

in

active

markets

for

identical

securities

as

of

the

reporting

date.

Investments

which

are

generally

included

in

this

category

include

listed

equities

and

exchange-traded

derivatives.

Level

–

Other

significant

observable

inputs

(including

quoted

prices

for

similar

investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Investments

which

are

generally

included

in

this

category

include

certain

foreign

equities,

corporate

bonds,

municipal

bonds,

OTC

derivatives,

exchange

cleared

derivatives,

senior

floating

rate

interests,

repurchase

agreements,

and

U.S.

Government

and

Government

Agency

Obligations.

Level

–

Significant

unobservable

inputs

(including

the

Funds'

assumptions

in

determining

the

fair

value

of

investments).

Investments

which

are

generally

included

in

this

category

include

certain

common

stocks,

convertible

preferred

stocks,

corporate

bonds,

preferred

stocks,

or

senior

floating

rate

interests.

The

availability

of

observable

inputs

can

vary

from

security

to

security

and

is

affected

by

a

wide

variety

of

factors,

including,

for

example,

the

type

of

security,

whether

the

security

is

new

and

not

yet

established

in

the

market

place,

and

other

characteristics

particular

to

the

transaction.

To

the

extent

that

valuation

is

based

on

models

or

inputs

that

are

less

observable

or

unobservable

in

the

market,

the

determination

of

fair

value

requires

more

judgment.

Accordingly,

the

degree

of

judgment

exercised

by

the

Funds

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3. In

certain

cases,

the

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

level

in

the

fair

value

hierarchy

within

which

the

fair

value

measurement

in

its

entirety

falls

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Fair

value

is

a

market-based

measure

considered

from

the

perspective

of

a

market

participant

who

holds

the

asset

rather

than

an

entity

specific

measure.

Therefore,

even

when

market

assumptions

are

not

readily

available,

the

Funds'

own

assumptions

are

set

to

reflect

those

that

market

participants

would

use

in

pricing

the

asset

or

liability

at

the

measurement

date.

The

Funds

uses

prices

and

inputs

that

are

current

as

of

the

measurement

date,

when

available.

Investments

which

are

included

in

the

Level

category

may

be

valued

using

quoted

prices

from

brokers

and

dealers

participating

in

the

market

for

these

investments.

These

investments

are

classified

as

Level

investments

due

to

the

lack

of

market

transparency

and

market

corroboration

to

support

these

quoted

prices.

Valuation

models

may

be

used

as

the

pricing

source

for

other

investments

classified

as

Level

3. Valuation

models

rely

on

one

or

more

significant

unobservable

inputs

such

as:

yield

to

maturity,

EBITDA

multiples,

discount

rates,

available

cash,

or

direct

offering

price.

Significant

increases

in

yield

to

maturity,

EBITDA

multiples,

available

cash,

or

direct

offering

price would

have

resulted

in

significantly

higher

fair

value

measurements.

A

significant

increase

in

discount

rates

would

have

resulted

in

a

significantly

lower

fair

value

measurement.

Benchmark

pricing

procedures

set

the

base

price

of

a

security

based

on

current

market

data.

The

base

price

may

be

a

broker-dealer

quote,

transaction

price,

or

internal

value

based

on

relevant

market

data.

The

fair

values

of

these

securities

are

dependent

on

economic,

political,

and

other

considerations.

The

values

of

such

securities

may

be

affected

by

significant

changes

in

the

economic

conditions,

changes

in

government

policies,

and

other

factors

(e.g.,

natural

disasters,

pandemics,

accidents,

conflicts,

etc.).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

instruments.

The

following

is

a

summary

of

the

inputs

used

as

of

March

31,

2026

in

valuing

the

Funds'

securities

carried

at

fair

value

(amounts

in

thousands):

Fund

Level

-

Quoted

Prices

Level

-

Other

Significant

Observable

Inputs

Level

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Blue

Chip

Account

Common

Stocks\*

$

20,522

$

—

$

—

$

20,522

Investment

Companies\*

—

—

Total

investments

in

securities

$

20,627

$

—

$

—

$

20,627

Bond

Market

Index

Account

Bonds\*

—

473,148

—

473,148

Investment

Companies\*

25,161

—

—

25,161

Municipal

Bonds\*

—

9,292

—

9,292

U.S.

Government

&

Government

Agency

Obligations\*

—

1,196,197

—

1,196,197

Total

investments

in

securities

$

25,161

$

1,678,637

$

—

$

1,703,798

March

31,

2026

(unaudited)

Fund

Level

-

Quoted

Prices

Level

-

Other

Significant

Observable

Inputs

Level

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Core

Plus

Bond

Account

Bonds\*

$

—

$

145,734

$

—

$

145,734

Investment

Companies\*

34,834

—

—

34,834

Senior

Floating

Rate

Interests\*

—

5,172

—

5,172

U.S.

Government

&

Government

Agency

Obligations\*

—

74,733

—

74,733

Total

investments

in

securities

$

34,834

$

225,639

$

—

$

260,473

Derivative

Assets

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps\*\*

—

—

Interest

Rate

Contracts

Futures\*\*

—

—

Derivative

Liabilities

Interest

Rate

Contracts

Futures\*\*

(714) —

—

(714) Diversified

Balanced

Account

Investment

Companies\*

464,711

—

—

464,711

Total

investments

in

securities

$

464,711

$

—

$

—

$

464,711

Diversified

Balanced

Adaptive

Allocation

Account

Investment

Companies\*

201,850

—

—

201,850

Total

investments

in

securities

$

201,850

$

—

$

—

$

201,850

Diversified

Balanced

Strategic

Allocation

Account

Investment

Companies\*

81,694

—

—

81,694

Total

investments

in

securities

$

81,694

$

—

$

—

$

81,694

Diversified

Growth

Account

Investment

Companies\*

1,698,105

—

—

1,698,105

Total

investments

in

securities

$

1,698,105

$

—

$

—

$

1,698,105

Diversified

Growth

Adaptive

Allocation

Account

Investment

Companies\*

1,380,399

—

—

1,380,399

Total

investments

in

securities

$

1,380,399

$

—

$

—

$

1,380,399

Diversified

Growth

Strategic

Allocation

Account

Investment

Companies\*

183,618

—

—

183,618

Total

investments

in

securities

$

183,618

$

—

$

—

$

183,618

Diversified

Income

Account

Investment

Companies\*

169,204

—

—

169,204

Total

investments

in

securities

$

169,204

$

—

$

—

$

169,204

Diversified

International

Account

Common

Stocks

Basic

Materials

9,441

3,623

—

13,064

Communications

3,895

19,107

—

23,002

Consumer,

Cyclical

1,448

31,056

—

32,504

Consumer,

Non-cyclical

6,126

31,467

—

37,593

Energy

11,086

4,970

—

16,056

Financial

7,971

44,243

—

52,214

Industrial

1,971

33,175

—

35,146

Technology

2,250

37,762

—

40,012

Investment

Companies\*

4,473

—

—

4,473

Preferred

Stocks\*

—

—

Total

investments

in

securities

$

48,719

$

205,403

$

—

$

254,122

Equity

Income

Account

Common

Stocks\*

695,385

—

—

695,385

Investment

Companies\*

11,238

—

—

11,238

Total

investments

in

securities

$

706,623

$

—

$

—

$

706,623

March

31,

2026

(unaudited)

Fund

Level

-

Quoted

Prices

Level

-

Other

Significant

Observable

Inputs

Level

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Global

Emerging

Markets

Account

Common

Stocks

Basic

Materials

$

1,835

$

1,268

$

—

$

3,103

Communications

1,874

8,992

—

10,866

Consumer,

Cyclical

1,125

6,593

—

7,718

Consumer,

Non-cyclical

1,914

4,282

—

6,196

Energy

837

2,159

—

2,996

Financial

4,390

14,656

—

19,046

Industrial

836

6,194

—

7,030

Technology

861

22,175

—

23,036

Utilities

655

—

793

Investment

Companies\*

—

—

Preferred

Stocks

Consumer,

Cyclical

—

—

Energy

1,489

—

—

1,489

Total

investments

in

securities

$

15,964

$

66,757

$

—

$

82,721

Government

&

High

Quality

Bond

Account

Bonds\*

—

24,504

—

24,504

Investment

Companies\*

2,589

—

—

2,589

U.S.

Government

&

Government

Agency

Obligations\*

—

85,885

—

85,885

Total

investments

in

securities

$

2,589

$

110,389

$

—

$

112,978

Derivative

Assets

Interest

Rate

Contracts

Futures\*\*

—

—

Derivative

Liabilities

Interest

Rate

Contracts

Futures\*\*

(74) —

—

(74) LargeCap

Growth

Account

I

Common

Stocks

Basic

Materials

—

—

Communications

123,382

—

—

123,382

Consumer,

Cyclical

22,026

—

—

22,026

Consumer,

Non-cyclical

68,659

—

—

68,659

Energy

506

—

—

506

Financial

33,982

—

—

33,982

Industrial

37,237

—

—

37,237

Technology

228,136

—

228,498

Utilities

—

—

Convertible

Preferred

Stocks

Basic

Materials

—

—

Consumer,

Cyclical

—

—

Technology

—

—

Investment

Companies\*

12,139

—

—

12,139

Total

investments

in

securities

$

526,757

$

—

$

1,173

$

527,930

Derivative

Liabilities

Equity

Contracts

Futures\*\*

(5) —

—

(5) LargeCap

S&P

500

Index

Account

Common

Stocks\*

2,310,669

—

—

2,310,669

Investment

Companies\*

22,200

—

—

22,200

Total

investments

in

securities

$

2,332,869

$

—

$

—

$

2,332,869

Derivative

Liabilities

Equity

Contracts

Futures\*\*

(201) —

—

(201) MidCap

Account

Common

Stocks

Basic

Materials

7,062

—

—

7,062

Consumer,

Cyclical

127,417

—

—

127,417

Consumer,

Non-cyclical

24,459

—

—

24,459

Financial

138,115

—

—

138,115

Industrial

119,974

—

—

119,974

March

31,

2026

(unaudited)

Fund

Level

-

Quoted

Prices

Level

-

Other

Significant

Observable

Inputs

Level

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

MidCap

Account

(continued)

Common

Stocks

(continued)

Technology

$

58,232

$

—

$

—

$

58,232

Utilities

22,480

—

—

22,480

Investment

Companies\*

7,359

—

—

7,359

Total

investments

in

securities

$

505,098

$

—

$

—

$

505,098

Principal

Capital

Appreciation

Account

Common

Stocks\*

228,994

—

—

228,994

Investment

Companies\*

6,495

—

—

6,495

Total

investments

in

securities

$

235,489

$

—

$

—

$

235,489

Principal

LifeTime

2020

Account

Investment

Companies\*

130,887

—

—

130,887

Total

investments

in

securities

$

130,887

$

—

$

—

$

130,887

Principal

LifeTime

2030

Account

Investment

Companies\*

331,390

—

—

331,390

Total

investments

in

securities

$

331,390

$

—

$

—

$

331,390

Principal

LifeTime

2040

Account

Investment

Companies\*

237,466

—

—

237,466

Total

investments

in

securities

$

237,466

$

—

$

—

$

237,466

Principal

LifeTime

2050

Account

Investment

Companies\*

100,756

—

—

100,756

Total

investments

in

securities

$

100,756

$

—

$

—

$

100,756

Principal

LifeTime

2060

Account

Investment

Companies\*

43,195

—

—

43,195

Total

investments

in

securities

$

43,195

$

—

$

—

$

43,195

Principal

LifeTime

Strategic

Income

Account

Investment

Companies\*

60,543

—

—

60,543

Total

investments

in

securities

$

60,543

$

—

$

—

$

60,543

Real

Estate

Securities

Account

Common

Stocks\*

258,643

—

—

258,643

Investment

Companies\*

2,073

—

—

2,073

Total

investments

in

securities

$

260,716

$

—

$

—

$

260,716

SAM

Balanced

Portfolio

Investment

Companies\*

537,056

—

—

537,056

Total

investments

in

securities

$

537,056

$

—

$

—

$

537,056

Derivative

Liabilities

Interest

Rate

Contracts

Futures\*\*

(188) —

—

(188) SAM

Conservative

Balanced

Portfolio

Investment

Companies\*

151,964

—

—

151,964

Total

investments

in

securities

$

151,964

$

—

$

—

$

151,964

Derivative

Liabilities

Interest

Rate

Contracts

Futures\*\*

(148) —

—

(148) SAM

Conservative

Growth

Portfolio

Investment

Companies\*

412,502

—

—

412,502

Total

investments

in

securities

$

412,502

$

—

$

—

$

412,502

March

31,

2026

(unaudited)

\*For

additional

detail

regarding

sector

and/or

sub-industry

classifications,

please

see

the

Schedule

of

Investments.

\*\*Exchange

cleared

swaps

and

futures

are

presented

at

the

unrealized

appreciation/(depreciation)

of

the

instrument.

At

the

end

of

the

period,

there

were

no

Funds

which

had

a

significant

Level

balance.

During

the

period,

there

were

no

purchases,

sales,

or

transfers

into

or

out

of

Level

3. Fund

Level

-

Quoted

Prices

Level

-

Other

Significant

Observable

Inputs

Level

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

SAM

Flexible

Income

Portfolio

Investment

Companies\*

$

111,744

$

—

$

—

$

111,744

Total

investments

in

securities

$

111,744

$

—

$

—

$

111,744

Derivative

Liabilities

Interest

Rate

Contracts

Futures\*\*

(162) —

—

(162) SAM

Strategic

Growth

Portfolio

Investment

Companies\*

474,903

—

—

474,903

Total

investments

in

securities

$

474,903

$

—

$

—

$

474,903

Short-Term

Income

Account

Bonds\*

—

111,523

—

111,523

Investment

Companies\*

4,087

—

—

4,087

U.S.

Government

&

Government

Agency

Obligations\*

—

16,130

—

16,130

Total

investments

in

securities

$

4,087

$

127,653

$

—

$

131,740

Derivative

Assets

Interest

Rate

Contracts

Futures\*\*

—

—

SmallCap

Account

Common

Stocks\*

167,390

—

—

167,390

Investment

Companies\*

6,848

—

—

6,848

Total

investments

in

securities

$

174,238

$

—

$

—

$

174,238

U.S.

LargeCap

S&P

500

Index

Buffer

April

Account

Investment

Companies\*

27,607

—

—

27,607

Purchased

Options

—

5,939

—

5,939

Total

investments

in

securities

$

27,607

$

5,939

$

—

$

33,546

Derivative

Liabilities

Equity

Contracts

Written

Options

—

(1,773)

—

(1,773)

U.S.

LargeCap

S&P

500

Index

Buffer

January

Account

Investment

Companies\*

71,078

—

—

71,078

Purchased

Options

—

13,274

—

13,274

Total

investments

in

securities

$

71,078

$

13,274

$

—

$

84,352

Derivative

Liabilities

Equity

Contracts

Written

Options

—

(4,019)

—

(4,019)

U.S.

LargeCap

S&P

500

Index

Buffer

July

Account

Investment

Companies\*

37,266

—

—

37,266

Purchased

Options

—

5,513

—

5,513

Total

investments

in

securities

$

37,266

$

5,513

$

—

$

42,779

Derivative

Liabilities

Equity

Contracts

Written

Options

—

(642) —

(642) U.S.

LargeCap

S&P

500

Index

Buffer

October

Account

Investment

Companies\*

55,842

—

—

55,842

Purchased

Options

—

9,398

—

9,398

Total

investments

in

securities

$

55,842

$

9,398

$

—

$

65,240

Derivative

Liabilities

Equity

Contracts

Written

Options

—

(2,088)

—

(2,088)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Principal Variable Contract Funds, Inc

- **b. Investment Company Act file number:** 811-01944

- **c. CIK number of Registrant:** 0000012601

- **d. LEI of Registrant:** ICS43THKTGQL3EQ10426

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

  - **Street Address 1:** 711 High St

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50392

  - **Telephone number:** 515-235-1719

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

- **a. Name of Series:** U.S. LargeCap S&P 500 Index Buffer July Account

- **b. EDGAR series identifier (if any):** S000076127

- **c. LEI of Series:** 549300SG515UA9FATR62

**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:** $42770664.42

**Total Liabilities:** $676033.12

**Net Assets:** $42094631.30

**Cash Not Reported:** $3.41

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235586 | 1.06%                | -0.56%               | -3.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $126570.76               | $453194.43                                 |
| Month 2  | $59378.79                | $-377456.07                                |
| Month 3  | $9250.22                 | $-2006287.00                               |

**Designated Index Information**

- **Index Name:** S&P 500 Price Return Index

- **Index Identifier:** SPX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares Core S&P 500 ETF                                        | iShares Core S&P 500 ETF                                        | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |     32381 | NS      | $21151593.01  | 50.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Principal Funds, Inc - Government Money Market Fund - Class R-6 | Principal Funds, Inc - Government Money Market Fund - Class R-6 | CUSIP: 74257B639<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     46504 | NS      | $46504.10     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR S&P 500 ETF Trust                             | State Street SPDR S&P 500 ETF Trust                             | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      6475 | NS      | $4210951.50   | 10.00%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio S&P 500 ETF                         | State Street SPDR Portfolio S&P 500 ETF                         | CUSIP: 78464A854<br>LEI: 5493004K4F0RL72RIJ47 | Long             | EC               | RF                | US        |     71950 | NS      | $5507053.00   | 13.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                                            | Vanguard S&P 500 ETF                                            | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |     10593 | NS      | $6329847.15   | 15.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                             | Options                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |        70 | NC      | $4517539.99   | 10.73%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                             | Options                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       189 | NC      | $-244092.35   | -0.58%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                             | Options                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       644 | NC      | $-398174.69   | -0.95%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                             | Options                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       644 | NC      | $995752.01    | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Principal Variable Contract Funds, Inc

**Signature:** Megan Hoffmann

**Name of Signer:** /s/ Megan Hoffmann

**Title:** Vice President and Treasurer