# EDGAR Filing Document

**Accession Number:** 0000795259
**File Stem:** 0001193125-25-193688
**Filing Date:** 2025-9
**Character Count:** 845300
**Document Hash:** 9ba723d6a7bd6ccf0036157d6d5714a6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-193688.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001193125-25-193688

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**EFFECTIVENESS DATE**: 20250902

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MoA Funds Corp
- **CENTRAL INDEX KEY:** 0000795259

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05084
- **FILM NUMBER:** 251283916

**BUSINESS ADDRESS:**
- **STREET 1:** 320 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212)224-1600

**MAIL ADDRESS:**
- **STREET 1:** 320 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUTUAL OF AMERICA INVESTMENT CORP
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### MoA Equity Index Fund (Series ID: S000009389)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000025733 | MoA Equity Index Fund |  |

### MoA Moderate Allocation Fund (Series ID: S000009390)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000025734 | MoA Moderate Allocation Fund |  |

### MoA Aggressive Allocation Fund (Series ID: S000009391)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000025735 | MoA Aggressive Allocation Fund |  |

### MoA US Government Money Market Fund (Series ID: S000009392)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000025736 | MoA US Government Money Market Fund |  |

### MoA Intermediate Bond Fund (Series ID: S000009394)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000025738 | MoA Intermediate Bond Fund |  |

### MoA Core Bond Fund (Series ID: S000009395)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000025739 | MoA Core Bond Fund |  |

### MoA All America Fund (Series ID: S000009396)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000025740 | MoA All America Fund |  |

### MoA Small Cap Value Fund (Series ID: S000009397)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000025741 | MoA Small Cap Value Fund |  |

### MoA Small Cap Growth Fund (Series ID: S000009398)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000025742 | MoA Small Cap Growth Fund |  |

### MoA Mid Cap Value Fund (Series ID: S000009399)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000025743 | MoA Mid Cap Value Fund |  |

### MoA Mid Cap Equity Index Fund (Series ID: S000009400)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000025744 | MoA Mid Cap Equity Index Fund |  |

### MoA Balanced Fund (Series ID: S000009402)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000025746 | MoA Balanced Fund |  |

### MoA Conservative Allocation Fund (Series ID: S000009403)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000025747 | MoA Conservative Allocation Fund |  |

### MoA Retirement Income Fund (Series ID: S000017196)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000047651 | MoA Retirement Income Fund |  |

### MoA Clear Passage 2020 Fund (Series ID: S000017198)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047653 | MoA Clear Passage 2020 Fund |  |

### MoA Clear Passage 2025 Fund (Series ID: S000017199)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047654 | MoA Clear Passage 2025 Fund |  |

### MoA Clear Passage 2030 Fund (Series ID: S000017200)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047655 | MoA Clear Passage 2030 Fund |  |

### MoA Clear Passage 2035 Fund (Series ID: S000017201)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047656 | MoA Clear Passage 2035 Fund |  |

### MoA Clear Passage 2040 Fund (Series ID: S000017202)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047657 | MoA Clear Passage 2040 Fund |  |

### MoA Clear Passage 2045 Fund (Series ID: S000017203)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000047658 | MoA Clear Passage 2045 Fund |  |

### MoA International Fund (Series ID: S000017204)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000047659 | MoA International Fund |  |

### MoA Clear Passage 2050 Fund (Series ID: S000036887)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000112889 | MoA Clear Passage 2050 Fund |  |

### MoA Clear Passage 2055 Fund (Series ID: S000053609)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000168453 | MoA Clear Passage 2055 Fund |  |

### MoA Small Cap Equity Index Fund (Series ID: S000061788)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000200087 | MoA Small Cap Equity Index Fund |  |

### MoA Clear Passage 2060 Fund (Series ID: S000061789)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000200088 | MoA Clear Passage 2060 Fund |  |

### MoA Catholic Values Index Fund (Series ID: S000068380)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000218762 | MoA Catholic Values Index Fund |  |

### MoA Clear Passage 2065 Fund (Series ID: S000068381)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000218763 | MoA Clear Passage 2065 Fund |  |

### MoA Clear Passage 2070 Fund (Series ID: S000091977)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000259883 | MoA Clear Passage 2070 Fund |  |

?xml version='1.0' encoding='ASCII'? MoA Funds Corp

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number 811-05084

## MoA Funds Corporation

#### (Exact name of Registrant as specified in charter)

#### 320 Park Avenue,

#### New York, NY 10022

#### (Address of principal executive offices) (Zip code)

#### Joseph R. Gaffoglio

#### Chief Executive Officer and Principal Exective Officer

#### MoA Funds Corporation

#### 320 Park Avenue

#### New York, NY 10022

#### (Name and address of agent for service)

#### Registrant's telephone number, including area code: 212-224-1600

#### Date of fiscal year end: December 31

#### Date of reporting period: June 30, 2025

------

#### Item 1. Reports to Stockholders.
(a) The Registrant's semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

(b) Not applicable.

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Equity Index Fund

# MAEIX
This Semi-Annual Shareholder Report contains important information about the MoA Equity Index Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Equity Index Fund | $6 | 0.12%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$5,901,231,789

* Number of Portfolio Holdings509

* Portfolio Turnover Rate0.80%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Technology | 31.5% |
| Communications | 15.9% |
| Financial | 14.8% |
| Consumer, Non-cyclical | 14.4% |
| Consumer, Cyclical | 8.0% |
| Industrial | 7.5% |
| Energy | 3.0% |
| Utilities | 2.4% |
| Basic Materials | 1.5% |
| Other | 1.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.3% |
| Microsoft Corp. | 7.0% |
| Apple, Inc. | 5.8% |
| Amazon.com, Inc. | 3.9% |
| Alphabet, Inc. | 3.5% |
| Meta Platforms, Inc. | 3.0% |
| Broadcom, Inc. | 2.4% |
| Berkshire Hathaway, Inc. | 1.7% |
| Tesla, Inc. | 1.7% |
| JPMorgan Chase & Co. | 1.5% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Equity Index Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAEIX
EQID-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA All America Fund

# MAAKX
This Semi-Annual Shareholder Report contains important information about the MoA All America Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA All America Fund | $26 | 0.52%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$297,943,278

* Number of Portfolio Holdings676

* Portfolio Turnover Rate8.72%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Technology | 22.7% |
| Financial | 17.2% |
| Consumer, Non-cyclical | 16.6% |
| Industrial | 12.9% |
| Communications | 9.9% |
| Consumer, Cyclical | 8.6% |
| Energy | 4.0% |
| Utilities | 3.6% |
| Basic Materials | 1.6% |
| Other | 2.9% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| NVIDIA Corp. | 4.2% |
| Microsoft Corp. | 4.0% |
| Apple, Inc. | 3.4% |
| Amazon.com, Inc. | 2.3% |
| Alphabet, Inc. | 2.0% |
| Meta Platforms, Inc. | 1.8% |
| Broadcom, Inc. | 1.4% |
| Berkshire Hathaway, Inc. | 1.0% |
| Tesla, Inc. | 1.0% |
| JPMorgan Chase & Co. | 0.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA All America Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAAKX
AMER-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Small Cap Value Fund

# MAVKX
This Semi-Annual Shareholder Report contains important information about the MoA Small Cap Value Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Small Cap Value Fund | $41 | 0.84%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$373,675,352

* Number of Portfolio Holdings80

* Portfolio Turnover Rate24.04%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Financial | 41.6% |
| Consumer, Non-cyclical | 14.5% |
| Industrial | 13.9% |
| Consumer, Cyclical | 11.3% |
| Energy | 5.8% |
| Utilities | 5.7% |
| Basic Materials | 3.5% |
| Communications | 2.0% |
| Technology | 0.9% |
| Other | 0.8% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| American Healthcare REIT, Inc. | 2.9% |
| Stock Yards Bancorp, Inc. | 2.6% |
| Mueller Industries, Inc. | 2.6% |
| Essent Group Ltd. | 2.3% |
| VSE Corp. | 2.2% |
| Stevanato Group SpA | 2.2% |
| Telephone and Data Systems, Inc. | 2.0% |
| Enpro, Inc. | 2.0% |
| Wintrust Financial Corp. | 1.9% |
| Hancock Whitney Corp. | 1.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Small Cap Value Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAVKX
SMVA-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Small Cap Growth Fund

# MAGKX
This Semi-Annual Shareholder Report contains important information about the MoA Small Cap Growth Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Small Cap Growth Fund | $41 | 0.84%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$398,814,175

* Number of Portfolio Holdings92

* Portfolio Turnover Rate20.68%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Consumer, Non-cyclical | 29.3% |
| Industrial | 24.8% |
| Technology | 12.7% |
| Financial | 11.6% |
| Consumer, Cyclical | 9.8% |
| Energy | 3.4% |
| Communications | 3.3% |
| Basic Materials | 1.9% |
| Utilities | 1.4% |
| Other | 1.8% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| ESCO Technologies, Inc. | 3.0% |
| Federal Signal Corp. | 2.5% |
| Sterling Infrastructure, Inc. | 2.2% |
| Insmed, Inc. | 2.0% |
| Credo Technology Group Holding, Ltd. | 2.0% |
| Stevanato Group SpA | 1.9% |
| PJT Partners, Inc. | 1.8% |
| Fabrinet | 1.8% |
| First Financial Bankshares, Inc. | 1.8% |
| Agilysys, Inc. | 1.7% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Small Cap Growth Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAGKX
SMGW-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Small Cap Equity Index Fund

# MASOX
This Semi-Annual Shareholder Report contains important information about the MoA Small Cap Equity Index Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Small Cap Equity Index Fund | $7 | 0.15%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$173,776,448

* Number of Portfolio Holdings606

* Portfolio Turnover Rate15.12%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Financial | 28.4% |
| Industrial | 18.6% |
| Consumer, Non-cyclical | 17.0% |
| Consumer, Cyclical | 13.9% |
| Technology | 7.7% |
| Communications | 4.1% |
| Energy | 4.0% |
| Basic Materials | 3.9% |
| Utilities | 2.2% |
| Other | 0.2% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| iShares Core S&P Small-Cap ETF | 1.6% |
| Mr Cooper Group, Inc. | 0.7% |
| AeroVironment, Inc. | 0.6% |
| Brinker International, Inc. | 0.6% |
| Qorvo, Inc. | 0.6% |
| SPX Technologies, Inc. | 0.6% |
| Kratos Defense & Security Solutions, Inc. | 0.6% |
| BorgWarner, Inc. | 0.5% |
| Badger Meter, Inc. | 0.5% |
| Armstrong World Industries, Inc. | 0.5% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Small Cap Equity Index Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MASOX
SMEQ-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Mid Cap Value Fund

# MAMVX
This Semi-Annual Shareholder Report contains important information about the MoA Mid Cap Value Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Mid Cap Value Fund | $34 | 0.68%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$187,761,317

* Number of Portfolio Holdings68

* Portfolio Turnover Rate18.34%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Financial | 24.6% |
| Industrial | 23.9% |
| Consumer, Non-cyclical | 15.5% |
| Utilities | 9.2% |
| Consumer, Cyclical | 8.5% |
| Energy | 7.4% |
| Technology | 5.6% |
| Basic Materials | 2.9% |
| Commercial Paper | 2.1% |
| Other | 0.3% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| Crown Holdings, Inc. | 2.8% |
| Ameriprise Financial, Inc. | 2.7% |
| Crane Co. | 2.5% |
| Evergy, Inc. | 2.3% |
| Williams Cos., Inc. | 2.3% |
| Teledyne Technologies, Inc. | 2.2% |
| American Financial Group, Inc. | 2.1% |
| Performance Food Group Co. | 2.1% |
| East West Bancorp, Inc. | 2.1% |
| Roper Technologies, Inc. | 2.1% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Mid Cap Value Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAMVX
MIDVA-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Mid Cap Equity Index Fund

# MAMEX
This Semi-Annual Shareholder Report contains important information about the MoA Mid Cap Equity Index Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Mid Cap Equity Index Fund | $8 | 0.15%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,447,664,357

* Number of Portfolio Holdings405

* Portfolio Turnover Rate6.22%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Financial | 23.8% |
| Industrial | 22.2% |
| Consumer, Non-cyclical | 15.8% |
| Consumer, Cyclical | 14.3% |
| Technology | 10.1% |
| Basic Materials | 3.8% |
| Energy | 3.7% |
| Utilities | 2.8% |
| Communications | 2.3% |
| Other | 1.2% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| Interactive Brokers Group, Inc. | 0.8% |
| EMCOR Group, Inc. | 0.8% |
| RB Global, Inc. | 0.7% |
| Guidewire Software, Inc. | 0.7% |
| Flex Ltd. | 0.7% |
| Comfort Systems USA, Inc. | 0.6% |
| Casey's General Stores, Inc. | 0.6% |
| Curtiss-Wright Corp. | 0.6% |
| US Foods Holding Corp. | 0.6% |
| Pure Storage, Inc. | 0.6% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Mid Cap Equity Index Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAMEX
MIDIN-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Balanced Fund

# MACHX
This Semi-Annual Shareholder Report contains important information about the MoA Balanced Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Balanced Fund | $29 | 0.56%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$201,862,197

* Number of Portfolio Holdings407

* Portfolio Turnover Rate18.05%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Technology | 19.0% |
| Consumer, Non-cyclical | 9.1% |
| Communications | 8.3% |
| Financial | 7.6% |
| Industrial | 6.0% |
| Consumer, Cyclical | 4.9% |
| Energy | 2.3% |
| Utilities | 2.2% |
| Basic Materials | 1.2% |
| Other | 39.4% |

---

### Credit Rating Table\*

---

| | |
|:---|:---|
| AAA | 3.4% |
| AA | 19.8% |
| A | 3.8% |
| BBB | 11.7% |
| BB | 0.2% |

---

\* Ratings are based on Standard & Poor's Corporation ratings. Credit Quality ratings reflect the credit quality of the underlying securities in the Fund's portfolio and not that of the fund itself. Quality ratings are subject to change. Ratings range from AAA as the highest to Below B as the lowest credit quality rating.

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Balanced Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MACHX
BAL-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA International Fund

# MAIFX
This Semi-Annual Shareholder Report contains important information about the MoA International Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA International Fund | $17 | 0.30%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$2,020,626,914

* Number of Portfolio Holdings147

* Portfolio Turnover Rate10.92%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Financial | 27.5% |
| Consumer, Non-cyclical | 17.6% |
| Industrial | 17.5% |
| Consumer, Cyclical | 12.2% |
| Technology | 8.2% |
| Communications | 5.2% |
| Energy | 3.3% |
| Basic Materials | 3.0% |
| Utilities | 2.7% |
| Other | 2.8% |

---

### Country Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Japan | 18.3% |
| United States | 13.9% |
| United Kingdom | 11.3% |
| Germany | 10.6% |
| France | 9.1% |
| Spain | 5.2% |
| Australia | 5.2% |
| Italy | 4.9% |
| Other Countries | 18.7% |
| Other Assets and Liabilities | 2.8% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA International Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAIFX
INTL-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Catholic Values Index Fund

# MACCX
This Semi-Annual Shareholder Report contains important information about the MoA Catholic Values Index Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Catholic Values Index Fund | $11 | 0.22%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$8,301,621

* Number of Portfolio Holdings452

* Portfolio Turnover Rate12.77%

## What did the Fund invest in?

### Sector Weightings (as a % of Net Assets)

---

| | |
|:---|:---|
| Technology | 30.7% |
| Financial | 18.1% |
| Communications | 15.5% |
| Consumer, Non-cyclical | 13.6% |
| Consumer, Cyclical | 8.7% |
| Industrial | 6.8% |
| Energy | 2.9% |
| Utilities | 2.3% |
| Basic Materials | 1.4% |
| Other | -% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.2% |
| Microsoft Corp. | 6.9% |
| Apple, Inc. | 5.7% |
| Amazon.com, Inc. | 3.8% |
| Global X S&P 500 Catholic Values ETF | 3.8% |
| Alphabet, Inc. | 3.4% |
| Meta Platforms, Inc. | 2.9% |
| Broadcom, Inc. | 2.4% |
| JPMorgan Chase & Co. | 1.7% |
| Tesla, Inc. | 1.6% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Catholic Values Index Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MACCX
CATH-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Retirement Income Fund

# MARMX
This Semi-Annual Shareholder Report contains important information about the MoA Retirement Income Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Retirement Income Fund | $13 | 0.26%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$302,906,514

* Number of Portfolio Holdings6

* Portfolio Turnover Rate8.76%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Core Bond Fund | 35.0% |
| MoA Intermediate Bond Fund | 27.6% |
| MoA Equity Index Fund | 22.4% |
| MoA International Fund | 5.6% |
| MoA US Government Money Market Fund | 5.3% |
| MoA Mid Cap Equity Index Fund | 4.1% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Retirement Income Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MARMX
CPRT-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2020 Fund

# MURGX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2020 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2020 Fund | $12 | 0.23%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$432,752,555

* Number of Portfolio Holdings8

* Portfolio Turnover Rate5.27%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Core Bond Fund | 36.7% |
| MoA Equity Index Fund | 24.2% |
| MoA Intermediate Bond Fund | 20.2% |
| MoA International Fund | 7.8% |
| MoA US Government Money Market Fund | 4.9% |
| MoA Mid Cap Equity Index Fund | 4.5% |
| MoA Small Cap Value Fund | 1.1% |
| MoA Small Cap Growth Fund | 0.6% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2020 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURGX
CP2020-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2025 Fund

# MURHX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2025 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2025 Fund | $11 | 0.21%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,079,461,652

* Number of Portfolio Holdings8

* Portfolio Turnover Rate6.65%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Core Bond Fund | 33.1% |
| MoA Equity Index Fund | 30.0% |
| MoA Intermediate Bond Fund | 15.2% |
| MoA International Fund | 11.7% |
| MoA Mid Cap Equity Index Fund | 4.6% |
| MoA US Government Money Market Fund | 2.9% |
| MoA Small Cap Value Fund | 1.5% |
| MoA Small Cap Growth Fund | 1.0% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2025 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURHX
CP2025-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2030 Fund

# MURIX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2030 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2030 Fund | $10 | 0.20%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,448,571,402

* Number of Portfolio Holdings9

* Portfolio Turnover Rate7.36%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 35.0% |
| MoA Core Bond Fund | 27.4% |
| MoA International Fund | 14.0% |
| MoA Intermediate Bond Fund | 10.6% |
| MoA Mid Cap Equity Index Fund | 5.5% |
| MoA US Government Money Market Fund | 2.8% |
| MoA Small Cap Value Fund | 1.9% |
| MoA Mid Cap Value Fund | 1.5% |
| MoA Small Cap Growth Fund | 1.3% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2030 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURIX
CP2030-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2035 Fund

# MURJX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2035 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2035 Fund | $10 | 0.20%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,464,606,504

* Number of Portfolio Holdings10

* Portfolio Turnover Rate6.89%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 40.9% |
| MoA Core Bond Fund | 21.5% |
| MoA International Fund | 17.0% |
| MoA Mid Cap Equity Index Fund | 7.6% |
| MoA Intermediate Bond Fund | 4.8% |
| MoA US Government Money Market Fund | 2.8% |
| MoA Small Cap Value Fund | 2.0% |
| MoA Mid Cap Value Fund | 1.3% |
| MoA Small Cap Growth Fund | 1.2% |
| MoA Small Cap Equity Index Fund | 0.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2035 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURJX
CP2035-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2040 Fund

# MURLX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2040 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2040 Fund | $11 | 0.21%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,271,430,320

* Number of Portfolio Holdings10

* Portfolio Turnover Rate7.07%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 43.6% |
| MoA International Fund | 21.3% |
| MoA Core Bond Fund | 13.9% |
| MoA Mid Cap Equity Index Fund | 9.6% |
| MoA Intermediate Bond Fund | 3.8% |
| MoA Small Cap Value Fund | 2.0% |
| MoA US Government Money Market Fund | 1.9% |
| MoA Small Cap Equity Index Fund | 1.9% |
| MoA Small Cap Growth Fund | 1.1% |
| MoA Mid Cap Value Fund | 0.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2040 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURLX
CP2040-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2045 Fund

# MURMX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2045 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2045 Fund | $11 | 0.21%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,307,830,179

* Number of Portfolio Holdings10

* Portfolio Turnover Rate6.51%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 45.6% |
| MoA International Fund | 23.1% |
| MoA Core Bond Fund | 10.1% |
| MoA Mid Cap Equity Index Fund | 9.8% |
| MoA Intermediate Bond Fund | 2.9% |
| MoA Small Cap Growth Fund | 2.0% |
| MoA Small Cap Equity Index Fund | 1.9% |
| MoA US Government Money Market Fund | 1.9% |
| MoA Small Cap Value Fund | 1.8% |
| MoA Mid Cap Value Fund | 0.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2045 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURMX
CP2045-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2050 Fund

# MURNX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2050 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2050 Fund | $11 | 0.21%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,030,002,577

* Number of Portfolio Holdings10

* Portfolio Turnover Rate7.22%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 47.7% |
| MoA International Fund | 23.3% |
| MoA Mid Cap Equity Index Fund | 10.4% |
| MoA Core Bond Fund | 7.5% |
| MoA Small Cap Growth Fund | 2.2% |
| MoA Small Cap Value Fund | 2.1% |
| MoA Mid Cap Value Fund | 1.9% |
| MoA Small Cap Equity Index Fund | 1.9% |
| MoA US Government Money Market Fund | 1.9% |
| MoA Intermediate Bond Fund | 1.1% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2050 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURNX
CP2050-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2055 Fund

# MUROX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2055 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2055 Fund | $12 | 0.23%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$607,361,987

* Number of Portfolio Holdings10

* Portfolio Turnover Rate8.45%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 47.5% |
| MoA International Fund | 24.9% |
| MoA Mid Cap Equity Index Fund | 11.0% |
| MoA Core Bond Fund | 6.3% |
| MoA Small Cap Equity Index Fund | 2.7% |
| MoA Small Cap Value Fund | 2.0% |
| MoA Small Cap Growth Fund | 2.0% |
| MoA Mid Cap Value Fund | 1.9% |
| MoA US Government Money Market Fund | 0.9% |
| MoA Intermediate Bond Fund | 0.8% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2055 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MUROX
CP2055-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2060 Fund

# MURPX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2060 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2060 Fund | $13 | 0.25%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$349,959,824

* Number of Portfolio Holdings10

* Portfolio Turnover Rate8.42%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 46.5% |
| MoA International Fund | 26.1% |
| MoA Mid Cap Equity Index Fund | 11.7% |
| MoA Core Bond Fund | 4.4% |
| MoA Small Cap Value Fund | 2.9% |
| MoA Small Cap Equity Index Fund | 2.7% |
| MoA Small Cap Growth Fund | 2.2% |
| MoA Mid Cap Value Fund | 2.0% |
| MoA US Government Money Market Fund | 0.9% |
| MoA Intermediate Bond Fund | 0.6% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2060 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURPX
CP2060-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2065 Fund

# MURQX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2065 Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2065 Fund | $17 | 0.34%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$151,973,424

* Number of Portfolio Holdings10

* Portfolio Turnover Rate7.27%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 46.6% |
| MoA International Fund | 25.6% |
| MoA Mid Cap Equity Index Fund | 11.3% |
| MoA Core Bond Fund | 3.4% |
| MoA Small Cap Value Fund | 3.1% |
| MoA Small Cap Growth Fund | 3.1% |
| MoA Mid Cap Value Fund | 2.8% |
| MoA Small Cap Equity Index Fund | 2.7% |
| MoA US Government Money Market Fund | 0.8% |
| MoA Intermediate Bond Fund | 0.6% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2065 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURQX
CP2065-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Clear Passage 2070 Fund

# MURUX
This Semi-Annual Shareholder Report contains important information about the MoA Clear Passage 2070 Fund (the "Fund") for the period of May 2, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Clear Passage 2070 Fund | $1<sup>Footnote Reference(a)</sup> | 0.08%<sup>Footnote Reference(b)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Based on operations from May 2, 2025 (commencement of operations) through June 30, 2025. Had the fund been open the entire reporting period, expenses shown in the table above would have been higher. |
| &nbsp;&nbsp;Footnote<sup>(b)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$1,686,190

* Number of Portfolio Holdings10

* Portfolio Turnover Rate0.01%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.9% |
| Short-Term and Other | -0.9% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 45.9% |
| MoA International Fund | 25.1% |
| MoA Mid Cap Equity Index Fund | 14.1% |
| MoA Small Cap Growth Fund | 3.5% |
| MoA Small Cap Value Fund | 3.5% |
| MoA Mid Cap Value Fund | 3.0% |
| MoA Small Cap Equity Index Fund | 2.0% |
| MoA Core Bond Fund | 1.9% |
| MoA Intermediate Bond Fund | 1.0% |
| MoA US Government Money Market Fund | 0.9% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Clear Passage 2070 Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MURUX
CP2070-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Conservative Allocation Fund

# MACAX
This Semi-Annual Shareholder Report contains important information about the MoA Conservative Allocation Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Conservative Allocation Fund | $8 | 0.15%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$149,390,026

* Number of Portfolio Holdings6

* Portfolio Turnover Rate5.49%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Core Bond Fund | 34.8% |
| MoA Equity Index Fund | 25.5% |
| MoA Intermediate Bond Fund | 24.2% |
| MoA International Fund | 5.8% |
| MoA Mid Cap Equity Index Fund | 5.0% |
| MoA US Government Money Market Fund | 4.7% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Conservative Allocation Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MACAX
CONAL-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Moderate Allocation Fund

# MAMOX
This Semi-Annual Shareholder Report contains important information about the MoA Moderate Allocation Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Moderate Allocation Fund | $4 | 0.08%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$393,437,269

* Number of Portfolio Holdings5

* Portfolio Turnover Rate3.22%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 36.0% |
| MoA Core Bond Fund | 23.3% |
| MoA International Fund | 17.3% |
| MoA Intermediate Bond Fund | 13.4% |
| MoA Mid Cap Equity Index Fund | 10.0% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Moderate Allocation Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAMOX
MODAL-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Aggressive Allocation Fund

# MAANX
This Semi-Annual Shareholder Report contains important information about the MoA Aggressive Allocation Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Aggressive Allocation Fund | $5 | 0.09%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$333,805,382

* Number of Portfolio Holdings7

* Portfolio Turnover Rate3.79%

## What did the Fund invest in?

### Asset Diversification (as a % of Net Assets)

---

| | |
|:---|:---|
| Affiliated Mutual Funds | 100.0% |
| Short-Term and Other | 0.0% |

---

### Top 10 Investments (as a % of Net Assets)

---

| | |
|:---|:---|
| MoA Equity Index Fund | 36.9% |
| MoA International Fund | 21.1% |
| MoA Mid Cap Equity Index Fund | 17.4% |
| MoA Core Bond Fund | 14.1% |
| MoA Small Cap Growth Fund | 4.7% |
| MoA Small Cap Value Fund | 4.4% |
| MoA Intermediate Bond Fund | 1.4% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Aggressive Allocation Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAANX
AGGAL-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA US Government Money Market Fund

# MAAXX
This Semi-Annual Shareholder Report contains important information about the MoA US Government Money Market Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA U.S. Government Money Market Fund | $11 | 0.22%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$529,708,374

* Number of Portfolio Holdings21

* Portfolio Turnover Rate0.00%

## What did the Fund invest in?

### Maturity Weightings (as % of investments)

---

| | |
|:---|:---|
| Less than one month | 69.9% |
| 1-3 Months | 30.1% |

---

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

## Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA US Government Money Market Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAAXX
MMKT-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Intermediate Bond Fund

# MAMBX
This Semi-Annual Shareholder Report contains important information about the MoA Intermediate Bond Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Intermediate Bond Fund | $23 | 0.46%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$892,026,634

* Number of Portfolio Holdings192

* Portfolio Turnover Rate27.30%

## What did the Fund invest in?

### Maturity Weightings (as % of investments)

---

| | |
|:---|:---|
| Less than 1 year | 1.1% |
| 1-3 years | 33.3% |
| 3-5 years | 35.4% |
| 5-10 years | 30.2% |

---

### Credit Rating Table\*

---

| | |
|:---|:---|
| AAA | 2.0% |
| AA | 44.2% |
| A | 10.4% |
| BBB | 42.6% |
| BB | 0.8% |

---

\* Ratings are based on Standard & Poor's Corporation ratings. Credit Quality ratings reflect the credit quality of the underlying securities in the Fund's portfolio and not that of the fund itself. Quality ratings are subject to change. Ratings range from AAA as the highest to Below B as the lowest credit quality rating.

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Intermediate Bond Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MAMBX
INBD-I-0625

![Image](g92545i740448d9250be350dab2.jpg)

#### Semi-Annual Shareholder Report June 30, 2025

# MoA Core Bond Fund

# MABDX
This Semi-Annual Shareholder Report contains important information about the MoA Core Bond Fund (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at https://moafunds.com/docs. You can also request this information by contacting us at 800-914-8716.

## **What were the Fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| MoA Core Bond Fund | $22 | 0.44%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Annualized. |

---

### Fund Statistics
* Total Net Assets$2,234,017,050

* Number of Portfolio Holdings569

* Portfolio Turnover Rate17.43%

## What did the Fund invest in?

### Maturity Weightings (as % of investments)

---

| | |
|:---|:---|
| Less than 1 year | 0.7% |
| 1-3 years | 9.7% |
| 3-5 years | 24.8% |
| 5-10 years | 20.3% |
| More than 10 years | 44.5% |

---

### Credit Rating Table\*

---

| | |
|:---|:---|
| AAA | 0.2% |
| AA | 55.6% |
| A | 10.1% |
| BBB | 33.4% |
| BB | 0.7% |

---

\* Ratings are based on Standard & Poor's Corporation ratings. Credit Quality ratings reflect the credit quality of the underlying securities in the Fund's portfolio and not that of the fund itself. Quality ratings are subject to change. Ratings range from AAA as the highest to Below B as the lowest credit quality rating.

#### Availability of Additional Information
You can find the Fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information and other information at https:/moafunds.com/docs.

#### Householding
To reduce expense, the Funds may mail only one copy of the prospectus, and each annual and semiannual Tailored Shareholder report to those addresses shared by two or more accounts.

![Image](g92545ie59eb44a698cd0e67827.jpg)

# MoA Core Bond Fund
MoA Funds

320 Park Ave.

New York, NY 10022

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.moafunds.com/docs](g92545i8c3392790d8998dde129.jpg)

# MABDX
CORE-I-0625

------

#### Item 2. Code of Ethics.
Not applicable.

#### Item 3. Audit Committee Financial Expert.
Not applicable.

#### Item 4. Principal Accountant Fees and Services.
Not applicable.

#### Item 5. Audit Committee of Listed Registrants.
Not applicable.

#### Item 6. Investments.
(a) The Registrant's "Schedule I – Investments in securities of unaffiliated issuers" as of the close of the reporting period is included as part of MoA Funds Financial Statements and Additional Information filed under Item 7 of this form.

(b) Not applicable.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![LOGO](g92545dsp01.jpg)

JUNE 30, 2025

## MoA Funds Semi-Annual

## Financial Statements and

## Additional Information (Unaudited)
Equity Funds

• MoA Small Cap Value Fund (MAVKX)

• MoA Mid Cap Value Fund (MAMVX)

• MoA Small Cap Growth Fund (MAGKX)

• MoA International Fund (MAIFX)

• MoA Equity Index Fund (MAEIX)

• MoA Mid Cap Equity Index Fund (MAMEX)

• MoA Small Cap Equity Index Fund (MASOX)

• MoA Catholic Values Index Fund<sup>TM</sup> (MACCX)

• MoA All America Fund (MAAKX)

Fixed Income Funds

• MoA Intermediate Bond Fund (MAMBX)

• MoA Core Bond Fund<sup>TM</sup> (MABDX)

• MoA US Government Money Market Fund (MAAXX)

Asset Allocation Funds

• MoA Conservative Allocation Fund (MACAX)

• MoA Moderate Allocation Fund (MAMOX)

• MoA Aggressive Allocation Fund (MAANX)

• MoA Balanced Fund (MACHX)

Target Date Funds

• MoA Retirement Income Fund (MARMX)

• MoA Clear Passage 2020 Fund<sup>TM</sup> (MURGX)

• MoA Clear Passage 2025 Fund<sup>TM</sup> (MURHX)

• MoA Clear Passage 2030 Fund<sup>TM</sup> (MURIX)

• MoA Clear Passage 2035 Fund<sup>TM</sup> (MURJX)

• MoA Clear Passage 2040 Fund<sup>TM</sup> (MURLX)

• MoA Clear Passage 2045 Fund<sup>TM</sup> (MURMX)

• MoA Clear Passage 2050 Fund<sup>TM</sup> (MURNX)

• MoA Clear Passage 2055 Fund<sup>TM</sup> (MUROX)

• MoA Clear Passage 2060 Fund<sup>TM</sup> (MURPX)

• MoA Clear Passage 2065 Fund<sup>TM</sup> (MURQX)

• MoA Clear Passage 2070 Fund<sup>TM</sup> (MURUX)

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. The report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus. MoA Funds distributed by Foreside Fund Services, LLC.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

MoAFunds.com

------

#### CONTENTS

---

| | |
|:---|:---|
|  | **Page** |
|  **Semi-Annual Financial Statements and Additional Information for MoA Funds Corporation** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Portfolios of Investments in Securities:](#tx92545_1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Equity Index Fund](#tx92545_2) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA All America Fund](#tx92545_3) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Small Cap Value Fund](#tx92545_4) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Small Cap Growth Fund](#tx92545_5) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Small Cap Equity Index Fund](#tx92545_6) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Mid Cap Value Fund](#tx92545_7) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Mid Cap Equity Index Fund](#tx92545_8) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Balanced Fund](#tx92545_9) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA International Fund](#tx92545_10) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Catholic Values Index Fund**<sup>TM</sup>**](#tx92545_11) | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Retirement Income Fund](#tx92545_12) | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2020 Fund**<sup>TM</sup>**](#tx92545_13) | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2025 Fund**<sup>TM</sup>**](#tx92545_14) | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2030 Fund**<sup>TM</sup>**](#tx92545_15) | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2035 Fund**<sup>TM</sup>**](#tx92545_16) | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2040 Fund**<sup>TM</sup>**](#tx92545_17) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2045 Fund**<sup>TM</sup>**](#tx92545_18) | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2050 Fund**<sup>TM</sup>**](#tx92545_19) | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2055 Fund**<sup>TM</sup>**](#tx92545_20) | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2060 Fund**<sup>TM</sup>**](#tx92545_21) | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2065 Fund**<sup>TM</sup>**](#tx92545_22) | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Clear Passage 2070 Fund**<sup>TM</sup>**](#tx92545_23) | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Conservative Allocation Fund](#tx92545_24) | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Moderate Allocation Fund](#toc92545_24a) | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Aggressive Allocation Fund](#tx92545_25) | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA US Government Money Market Fund](#tx92545_26) | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Intermediate Bond Fund](#tx92545_27) | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [MoA Core Bond Fund**<sup>TM</sup>**](#tx92545_28) | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Statements of Assets and Liabilities](#tx92545_29) | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Statements of Operations](#tx92545_30) | 101 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Statements of Changes in Net Assets](#tx92545_31) | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Financial Highlights](#tx92545_32) | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#tx92545_33) | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Additional Information](#tx92545_34) | 175 |

---

------

#### MoA FUNDS — EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (99.0%):** |  |  |
|  Basic Materials (1.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc. | 24757 | $6982959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albemarle Corp. | 13089 | 820288 |
| &nbsp;&nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 18024 | 1658208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. | 78637 | 2082308 |
| &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. . | 46557 | 3193345 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eastman Chemical Co. | 12844 | 958933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecolab, Inc. | 28070 | 7563181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc . | 159774 | 6926203 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 28456 | 2092939 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Paper Co | 58728 | 2750232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 52368 | 24570018 |
| &nbsp;&nbsp;&nbsp;&nbsp; LyondellBasell Industries NV Cl A | 28605 | 1655085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mosaic Co. | 35291 | 1287416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newmont Corp | 123820 | 7213753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nucor Corp | 25671 | 3325421 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 25254 | 2872642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 25649 | 8806841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 15360 | 1966234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;86726006 |
|  Communications (15.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc. Cl A\* | 48014 | 6354173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl A | 647465 | 114102757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl C | 522282 | 92647604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.\* |  | 230608508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc.\* | 114570 | 11721657 |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 798560 | 23110326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 3621 | 20962838 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW Corp. | 14650 | 2616343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications, Inc. Cl A\* | 10619 | 4341153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 442578 | 30706062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. Cl A | 414318 | 14787009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corning, Inc. | 85752 | 4509698 |
| &nbsp;&nbsp;&nbsp;&nbsp; DoorDash, Inc. Cl A\* | 38143 | 9402631 |
| &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. | 51286 | 3818755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 13528 | 2281903 |
| &nbsp;&nbsp;&nbsp;&nbsp; F5, Inc.\* | 6390 | 1880705 |
| &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 4221 | 1887969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl A | 23812 | 1334424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl B | 14676 | 757722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 60719 | 1785139 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoDaddy, Inc. Cl A\* | 15851 | 2854131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. | 41133 | 1006936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Juniper Networks, Inc. | 36833 | 1470742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc. | 27281 | 842710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Cl A . | 241537 | 178276044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 18569 | 7807522 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Communications (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\* | 47345 | $63401110 |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl A | 41963 | 1247140 |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl B | 12399 | 425410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | 21706 | 1561530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.\* . | 73657 | 15073168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global Cl B | 66947 | 863616 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 53053 | 12640408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.\* | 232638 | 21705125 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc | 8984 | 2594579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 469022 | 20294582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Co. | 199997 | 24801628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery, Inc.\* | 250465 | 2870329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;939354086 |
|  Consumer, Cyclical (8.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aptiv PLC\* | 24223 | 1652493 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.\* | 1861 | 6908460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 21431 | 1438663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\* | 23137 | 656859 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarMax, Inc.\* | 16948 | 1139075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* | 116804 | 3284529 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.\* | 149892 | 8416436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Copart, Inc.\* | 97803 | 4799193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 49358 | 48861459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins, Inc | 15325 | 5018938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. . | 13018 | 2837534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.\* | 16884 | 1740234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc | 72639 | 3572386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp | 24468 | 2798650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc.\* | 21976 | 2176503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 3810 | 1716786 |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 30757 | 3965192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fastenal Co. | 127628 | 5360376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Co. | 434502 | 4714347 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Co. | 106959 | 5263452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genuine Parts Co. | 15440 | 1873026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hasbro, Inc | 14653 | 1081685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 26444 | 7043095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 110572 | 40540118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 37733 | 1641763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. Cl A | 25831 | 2857167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.\* | 17533 | 2652392 |
| &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 28719 | 1062890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc | 62267 | 13815179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.\* . | 12298 | 2921759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. Cl A | 25291 | 6909754 |
| &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. | 79546 | 23240955 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International\* | 23010 | $791314 |
| &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. Cl B | 131061 | 9310573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd.\* | 49706 | 1008038 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVR, Inc.\* | 333 | 2459425 |
| &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.\* . | 95099 | 8571273 |
| &nbsp;&nbsp;&nbsp;&nbsp; PACCAR, Inc. | 58400 | 5551504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pool Corp. | 4183 | 1219261 |
| &nbsp;&nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 22298 | 2351547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 4436 | 1216706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 36583 | 4667259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. | 27793 | 8703100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 63397 | 2056599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 126422 | 11584048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tapestry, Inc. | 23105 | 2028850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 50547 | 4986462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.\* | 311743 | 99028281 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 124208 | 15338446 |
| &nbsp;&nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 7457 | 1356801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Co. | 58985 | 3112638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.\* | 5023 | 2349860 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.\* | 36334 | 2893276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | 79846 | 916632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 480646 | 46997566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 13676 | 2234248 |
| &nbsp;&nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 4864 | 5059727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts, Ltd. | 9791 | 917123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 30924 | 4582318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;473254223 |
|  Consumer, Non-cyclical (14.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories | 193553 | 26325144 |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | 196509 | 36476001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. . | 31717 | 3742923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Align Technology, Inc.\* | 7581 | 1435311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Altria Group, Inc. | 187393 | 10986852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | 59818 | 16701784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | 53449 | 2821038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 45158 | 13926727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp | 8697 | 1526063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc . | 57089 | 1728655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 31884 | 5492019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc.\* | 16300 | 2047117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Techne Corp. | 17441 | 897339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.\* | 164585 | 17678075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. . | 226399 | 10480010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown-Forman Corp. Cl B | 20260 | 545197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Global SA | 14952 | 1200347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 26553 | 4460904 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) | Consumer, Non-cyclical (Continued) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cencora, Inc | 19190 | $5754122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centene Corp.\* | 55357 | 3004778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.\* | 5465 | 829204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | 27397 | 2633126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna Group | 29720 | 9824838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cintas Corp. | 38182 | 8509622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clorox Co. | 13711 | 1646280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Co. | 430931 | 30488368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 90157 | 8195271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | 53105 | 1087059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. Cl A | 17030 | 2770440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooper Cos., Inc.\* | 22247 | 1583097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corpay, Inc.\* | 7842 | 2602132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. | 75891 | 5656156 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | 140731 | 9707624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 70860 | &nbsp;&nbsp;&nbsp;&nbsp;13997684 |
| &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* | 4620 | 658119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.\* | 43621 | 3807677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.\* | 65259 | 5103906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 25135 | 9776510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Co | 87510 | 68216670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | 13816 | 3583456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. Cl A | 26055 | 2105244 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc | 50938 | 3772978 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 60920 | 3156265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 138384 | 15342634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc | 27132 | 2171645 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 19270 | 7382337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Henry Schein, Inc.\* | 13542 | 989243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hershey Co. | 16463 | 2732035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hologic, Inc.\* | 24792 | 1615447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 32423 | 980796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc | 13426 | 3282388 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.\*. | 8947 | 4798634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Incyte Corp.\* | 17873 | 1217151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp.\* | 7829 | 2459715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.\* | 39873 | 21667387 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.\* | 18284 | 2881376 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | 11838 | 1162492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 267671 | 40886745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kellanova | 29910 | 2378742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kenvue, Inc. | 213586 | 4470355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 151096 | 4995234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 36913 | 4758824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 96117 | 2481741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kroger Co | 68150 | 4888400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 9311 | 2444231 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) | Consumer, Non-cyclical (Continued) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 15699 | $813993 |
| &nbsp;&nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | 4173 | 931998 |
| &nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 28110 | 2131300 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 13918 | 10198832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medtronic PLC | 142680 | 12437416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 279348 | 22113188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderna, Inc.\* | 37861 | 1044585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.\* | 6030 | 1796337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. Cl B | 19061 | 916643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. Cl A | 144045 | 9714395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.\* . | 78116 | 4893186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moody's Corp | 17211 | 8632865 |
| &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.\* | 108193 | 8040904 |
| &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 152530 | 20140061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. | 632487 | 15331485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 173159 | 31537449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 260826 | 41554798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 16486 | 6233027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc | 12419 | 2230825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 11553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065325 |
| &nbsp;&nbsp;&nbsp;&nbsp; ResMed, Inc | 16312 | 4208496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Revvity, Inc | 13113 | 1268289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollins, Inc. | 31271 | 1764310 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. | 34921 | 18413494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp.\* | 15397 | 1167708 |
| &nbsp;&nbsp;&nbsp;&nbsp; STERIS PLC | 10930 | 2625605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp | 38263 | 15137991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 53928 | 4084507 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Campbell's Company | 21893 | 671020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 41996 | 17027698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods, Inc. Cl A | 31842 | 1781241 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Rentals, Inc. | 7232 | 5448589 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. . | 100918 | 31483388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Services, Inc. Cl B | 6363 | 1152657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 15562 | 4847563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.\* | 28568 | 12718474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viatris, Inc. | 130571 | 1165999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waters Corp.\* | 6620 | 2310645 |
| &nbsp;&nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 7993 | 1748868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 22011 | 2007623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 49529 | 7724048 |
|  |  | 848446509 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Energy (3.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Corp. | 40144 | $734234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 110219 | 4225796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp | 180684 | 25872142 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 140441 | 12603175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 84911 | 2155041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy Corp. | 71433 | 2272284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 20802 | 2858195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.\* | 14597 | 578771 |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 60718 | 7262480 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp | 66596 | 3883879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 24092 | 2817318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 479481 | 51688052 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc.\* | 11930 | 1974892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halliburton Co. | 95642 | 1949184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 30842 | 4272851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 215063 | 6322852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 34178 | 5677308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 78827 | 3311522 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 69489 | 5672387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 45327 | 5407511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger NV | 151316 | 5114481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp | 24134 | 4201247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. . | 2096 | 2214193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. | 34844 | 4683730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 135834 | 8531734 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;176285259 |
|  Financial (14.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aflac, Inc. | 54132 | 5708761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 17127 | 1243934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp. | 29460 | 5930593 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. | 61572 | 19640237 |
| &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. | 64116 | 5487688 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | 52079 | 11510501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. . | 10594 | 5654336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon PLC Cl A | 24022 | 8570089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 50226 | 7125563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. | 41521 | 3780487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co . | 28490 | 9120219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 5641 | 1114041 |
| &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 15818 | 3218963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 728981 | 34495381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp | 79591 | 7251536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Cl B\* | 203999 | 99096594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackrock, Inc | 16201 | 16998899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Inc. | 81173 | 12141857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 31155 | 3454155 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BXP, Inc. | 16204 | $1093284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust | 11885 | 1339321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 71156 | 15139151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 11649 | 2716663 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBRE Group, Inc. Cl A\* | 32668 | 4577440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 190006 | 17336147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chubb Ltd. | 41459 | 12011501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | 17388 | 2589421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 207783 | 17686489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | 48243 | 2158874 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 40088 | &nbsp;&nbsp;&nbsp;&nbsp;11049055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Cl A\* | 23518 | 8242824 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group, Inc.\* | 46934 | 3773494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 48444 | 4976652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 35219 | 6139728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | 10882 | 8656304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Residential | 38041 | 2567387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erie Indemnity Co. Cl A | 2774 | 961995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 7162 | 2029711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everest Group Ltd. | 4732 | 1608170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Extra Space Storage, Inc | 23608 | 3480763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 8636 | 820334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 74258 | 3054232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | 34493 | 822658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Globe Life, Inc. | 9183 | 1141355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 34136 | 24159754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 31606 | 4009853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. | 77288 | 1353313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | 77175 | 1185408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 162067 | 2716243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 63814 | 11707955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Ltd | 49789 | 785172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 63416 | 2080045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 32823 | 3366655 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 309170 | 89631475 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 109730 | 1911497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty Corp | 75260 | 1581965 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR & Co., Inc | 75302 | 10017425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loews Corp. | 19363 | 1774813 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 17858 | 3464273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 54815 | 11984752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. Cl A | 90238 | 50708342 |
| &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. | 62732 | 5044907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc | 13022 | 1927386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 137427 | 19357967 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 45986 | $4112068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 21643 | 2744116 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 44006 | 8203598 |
| &nbsp;&nbsp;&nbsp;&nbsp; Principal Financial Group, Inc. | 22946 | 1822601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progressive Corp. | 65216 | 17403542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 103230 | 10851538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. . | 39381 | 4231095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Storage | 17564 | 5153629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | 20201 | 3098227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | 100466 | 5787846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. | 18175 | 1294605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regions Financial Corp. | 100005 | 2352118 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications Corp | 11953 | 2807042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 34134 | 5487382 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp. | 31727 | 3373849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | 42348 | 2826305 |
| &nbsp;&nbsp;&nbsp;&nbsp; T Rowe Price Group, Inc. . | 24510 | 2365215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travelers Cos., Inc | 25205 | 6743346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 145684 | 6262955 |
| &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. | 33539 | 1369397 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 173327 | 7843047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ventas, Inc. | 50206 | 3170509 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 117556 | 3832326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. Cl A | 190345 | 67581992 |
| &nbsp;&nbsp;&nbsp;&nbsp; W R Berkley Corp. | 33340 | 2449490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co | 362023 | 29005283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc | 69113 | 10624741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 80685 | 2072798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 11031 | 3381001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;874537648 |
|  Industrial (7.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M Co. | 60396 | 9194687 |
| &nbsp;&nbsp;&nbsp;&nbsp; A O Smith Corp. | 12932 | 847951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegion PLC | 9573 | 1379661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amcor PLC | 254916 | 2342678 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 25684 | 4647777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. Cl A | 134565 | 13288294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\* | 8227 | 6811462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | 30863 | 1731106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boeing Co.\* | 83881 | 17575586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.\* | 12295 | 1434704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 88699 | 6491880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 52322 | 20311924 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc. | 13208 | 1267308 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp | 208986 | 6819213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. | 28081 | 14278908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dover Corp | 15252 | 2794624 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 43532 | $15540489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Co. | 62577 | 8343391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc | 15236 | 1740713 |
| &nbsp;&nbsp;&nbsp;&nbsp; FedEx Corp. | 24523 | 5574323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortive Corp. | 37812 | 1971140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Garmin Ltd. | 17135 | 3576417 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE Vernova, Inc | 30364 | 16067111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc.\* | 6573 | 941319 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Dynamics Corp. . | 28025 | 8173771 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. | 118634 | 30535205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 71498 | 16650454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc . | 44909 | 8358912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubbell, Inc. | 5938 | 2425139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | 4365 | 1053973 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX Corp. | 8404 | 1475490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 29662 | 7333929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc | 44884 | 3733451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc | 11942 | 2604550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc | 13368 | 1757224 |
| &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 8718 | 1251905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 73207 | 7732123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.\* | 19224 | 3150045 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 20798 | 5216970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. . | 3552 | 2036148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 23198 | &nbsp;&nbsp;&nbsp;&nbsp;10743922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 6707 | 3681875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 23467 | 1510336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.\* | 2313 | 2717127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mohawk Industries, Inc.\* | 5774 | 605346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordson Corp | 6015 | 1289436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 25081 | 6419984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp | 15052 | 7525699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 20689 | 3357825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 43908 | 4347770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging Corp. of America | 9939 | 1873005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 14216 | 9929450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pentair PLC | 18304 | 1879089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralliant Corp.\* | 1 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic Services, Inc. | 22597 | 5572646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 12540 | 4165412 |
| &nbsp;&nbsp;&nbsp;&nbsp; RTX Corp. | 148622 | 21701784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 55169 | 2380542 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap-on, Inc | 5817 | $1810134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 17211 | 1166045 |
| &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity PLC | 32991 | 5564592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.\* | 5212 | 2670160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textron, Inc. | 20085 | 1612625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies PLC | 24811 | 10852579 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | 6248 | 9500959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trimble, Inc.\* | 26543 | 2016737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 66469 | 15293187 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. Cl B | 81625 | 8239227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veralto Corp. | 27574 | 2783595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co | 14696 | 3833011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. . | 40738 | 9321669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp | 19037 | 3985396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc. | 27072 | 3502034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;440315201 |
|  Technology (31.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accenture PLC Cl A | 69644 | 20815895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.\* | 47415 | 18343915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.\* | 180378 | 25595638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.\* | 16266 | 1297376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 55176 | 13132992 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANSYS, Inc.\* | 9780 | 3434932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 340907600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 90382 | 16546233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.\* | 23802 | 7368385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 523083 | 144187829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 13067 | 3175673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.\* | 30376 | 9360364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Cl A | 54839 | 4279087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. Cl A\* | 27709 | 14112471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dayforce, Inc.\* | 17786 | 985167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Cl C | 33328 | 4086013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 25387 | 4054304 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPAM Systems, Inc.\* | 6302 | 1114320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\* | 2708 | 4950116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 58450 | 4758415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc.\* | 61680 | 10634249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.\* | 70675 | 7471761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc.\* | 8562 | 3460932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 146133 | 2988420 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 104874 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. | 485265 | 10869936 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. | 103393 | 30478189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 31100 | 24495293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 8100 | 1459377 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp. | 14712 | 13178127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp | 142300 | 13851482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 14320 | 2259123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 59831 | 4210307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 124327 | 15323303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 826857 | 411286940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 5326 | 3895330 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc. | 8608 | 4964578 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 22629 | 2411120 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 428638719 |
| &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors NV . | 28105 | 6140661 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\* | 46489 | 2436488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 180940 | 39558912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palantir Technologies, Inc. Cl A\* | 236639 | 32258628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 35662 | 5187395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc. | 5421 | 1254419 |
| &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\* | 13345 | 2299877 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc | 122061 | 19439435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc. . | 11960 | 6779406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc. | 106739 | 29106658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 23608 | 3407343 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.\* | 23028 | 23674626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc . | 16702 | 1244633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.\* | 57099 | 2798422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys, Inc.\* | 17201 | 8818609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.\* | 18847 | 4576994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. | 17847 | 1604802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc | 101065 | 20983115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.\* | 4797 | 2843853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Digital Corp. | 38812 | 2483580 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Workday, Inc. Cl A\* | 24100 | $5784000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Cl A\* | 5658 | 1744701 |
|  |  | 1861375686 |
|  Utilities (2.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AES Corp. | 79198 | 833163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 28577 | 1728051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameren Corp. | 30068 | 2887731 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 59428 | 6166249 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Water Works Co., Inc. | 21694 | 3017852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 17670 | 2723124 |
| &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc . | 72614 | 2667838 |
| &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. | 33277 | 2305431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc | 40082 | 4022229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 34867 | 11253673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc | 94871 | 5362109 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co. | 23085 | 3057839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | 86468 | 10203224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edison International | 42805 | 2208738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 49654 | 4127240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evergy, Inc. | 25597 | 1764401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy | 40870 | 2600149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 112309 | 4876457 |
| &nbsp;&nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 57144 | 2300617 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc | 229019 | 15898499 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | 52364 | 2112364 |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 21751 | 3492776 |
| &nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. | 244488 | 3408163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp | 13282 | 1188341 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPL Corp. | 82241 | 2787147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | 55512 | 4673000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sempra | 72552 | 5497265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co | 122268 | 11227870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 37750 | 7316328 |
| &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. . | 35503 | 3699413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 64163 | 4369500 |
|  |  | 139776781 |
|  Total Common Stocks<br>(Cost: $2,659,233,342) |  | 5840071399 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (0.9%):** |  |  |  |  |  |
|  U.S. Government (0.9%) | U.S. Government (0.9%) | U.S. Government (0.9%) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.13 | 07/24/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3989364 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.28 | 08/05/25 | 37000000 | 36846852 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (0.9%) (Continued):** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill(1) | A-1+ | 4.34 | 08/07/25 | $| 12500000 | $&nbsp;&nbsp;&nbsp;&nbsp;12445998 |
|  |  |  |  |  |  | 53282214 |
|  Commercial Paper (0.0%)(2) | Commercial Paper (0.0%)(2) | Commercial Paper (0.0%)(2) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 |  | 2292000 | 2292000 |
|  Total Short-Term Debt Securities<br>(Cost: $55,574,214) | Total Short-Term Debt Securities<br>(Cost: $55,574,214) | Total Short-Term Debt Securities<br>(Cost: $55,574,214) | Total Short-Term Debt Securities<br>(Cost: $55,574,214) | Total Short-Term Debt Securities<br>(Cost: $55,574,214) | Total Short-Term Debt Securities<br>(Cost: $55,574,214) | 55574214 |
|  Total Investments<br>(Cost: $2,714,807,556) 99.9% | Total Investments<br>(Cost: $2,714,807,556) 99.9% | Total Investments<br>(Cost: $2,714,807,556) 99.9% | Total Investments<br>(Cost: $2,714,807,556) 99.9% | Total Investments<br>(Cost: $2,714,807,556) 99.9% | Total Investments<br>(Cost: $2,714,807,556) 99.9% | 5895645613 |
|  Other Net Assets 0.1% | Other Net Assets 0.1% | Other Net Assets 0.1% | Other Net Assets 0.1% | Other Net Assets 0.1% | Other Net Assets 0.1% | 5586176 |
|  Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $5901231789 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

(1) This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. Information on futures contracts outstanding in the Fund as of June 30, 2025, was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract Type** | **Number of<br>Contracts** | **Purchased (P)<br>or Sold (S)** | **Expiration**<br>**Date** | **Underlying<br>Face Amount<br>at Value** | **Unrealized<br>Gain(Loss)(a)** | **Face Value<br>of Futures<br>as a %<br>of Total**<br>**Investments** |
|  E-mini S&P 500 Stock Index | 189 | P | September 2025 | $59097938 | $1658875 | 1.0% |

---

(a) Includes the cumulative appreciation(depreciation) of futures contracts, which is included in Total Distributable Earnings (Loss) in the Components of Net Assets section of the Statements of Assets and Liabilities. The Receivable or Payable for Daily Variation on Futures Contracts in the Statements of Assets and Liabilities only includes the current day's variation margin payable or receivable.

(2) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (97.1%):** |  |  |
|  Basic Materials (1.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc. | 726 | $204776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albemarle Corp. | 384 | 24065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashland, Inc. | 17526 | 881207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems Ltd.\* | 5378 | 159673 |
| &nbsp;&nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 528 | 48576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. | 2306 | 61063 |
| &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. . | 1365 | 93625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eastman Chemical Co. | 377 | 28147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecolab, Inc. | 823 | 221749 |
| &nbsp;&nbsp;&nbsp;&nbsp; FMC Corp. | 3957 | 165205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc . | 4685 | 203095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innospec, Inc. | 5167 | 434493 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 834 | 61341 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Paper Co | 1722 | 80641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 1536 | 720660 |
| &nbsp;&nbsp;&nbsp;&nbsp; LyondellBasell Industries NV Cl A | 839 | 48545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mosaic Co. | 1035 | 37757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newmont Corp | 3631 | 211542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nucor Corp | 753 | 97544 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 740 | 84175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 6862 | 768132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 752 | 258207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 450 | 57604 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4951822 |
|  Communications (9.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc. Cl A\* | 1408 | 186335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl A | 18985 | 3345726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl C | 15315 | 2716728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.\* | 30822 | 6762038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc.\* | 3359 | 343659 |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 23473 | 679309 |
| &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 106 | 613659 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW Corp. | 430 | 76794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications, Inc. Cl A\* | 311 | 127140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 12978 | 900414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. Cl A | 12149 | 433598 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corning, Inc. | 2514 | 132211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credo Technology Group Holding, Ltd.\* | 6666 | 617205 |
| &nbsp;&nbsp;&nbsp;&nbsp; DoorDash, Inc. Cl A\* | 1118 | 275598 |
| &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. | 1504 | 111988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 397 | 66966 |
| &nbsp;&nbsp;&nbsp;&nbsp; F5, Inc.\* | 187 | 55038 |
| &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 124 | 55463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl A | 698 | 39116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl B | 430 | 22201 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Communications (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 1780 | $52332 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoDaddy, Inc. Cl A\* | 465 | 83728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. | 1206 | 29523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Juniper Networks, Inc. | 1080 | 43124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc. | 800 | 24712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Cl A | 7082 | 5227153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 544 | 228730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\* | 1388 | 1858712 |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl A | 1230 | 36556 |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl B | 364 | 12489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | 636 | 45754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.\* | 4662 | 954032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global Cl B | 1963 | 25323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.\* | 4027 | 376887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc. | 16558 | 589134 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 1556 | 370732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.\* | 6822 | 636493 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc | 263 | 75954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 13753 | 595092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Co. | 5864 | 727195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery, Inc.\* | 7344 | 84162 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29639003 |
|  Consumer, Cyclical (8.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aptiv PLC\* | 710 | 48436 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.\* | 180 | 668201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 628 | 42158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\* | 678 | 19248 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarMax, Inc.\* | 497 | 33403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* | 3425 | 96311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.\* | 4395 | 246779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Copart, Inc.\* | 2868 | 140733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 1447 | 1432443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins, Inc | 449 | 147048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. . | 382 | 83265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.\* | 495 | 51020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc | 2130 | 104753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp | 717 | 82010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc.\* | 644 | 63782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 112 | 50467 |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 902 | 116286 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fastenal Co. | 3742 | 157164 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.\* | 27401 | 439512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Co. | 12741 | 138240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp.\* | 10492 | 272162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.\* | 2221 | 150939 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Co. | 3136 | 154323 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Genuine Parts Co. | 453 | $54953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. | 17727 | 521706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hasbro, Inc | 430 | 31743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 775 | 206414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 3242 | 1188647 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMAX Corp.\* | 5849 | 163538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | 3415 | 615793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 1106 | 48122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. Cl A | 757 | 83732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.\* | 514 | 77758 |
| &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 6995 | 258885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc | 1826 | 405135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.\* . | 361 | 85766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. Cl A | 742 | 202722 |
| &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. | 2333 | 681633 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International\* | 675 | 23213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miller Industries, Inc | 6799 | 302284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 3590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460412 |
| &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. Cl B | 3843 | 273007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd.\* | 1458 | 29568 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVR, Inc.\* | 75 | 553924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc.\* | 2910 | 383480 |
| &nbsp;&nbsp;&nbsp;&nbsp; OneSpaWorld Holdings, Ltd. | 13543 | 276142 |
| &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.\* . | 2789 | 251373 |
| &nbsp;&nbsp;&nbsp;&nbsp; PACCAR, Inc. | 1712 | 162743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pool Corp. | 123 | 35852 |
| &nbsp;&nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 654 | 68971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 130 | 35656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 1073 | 136893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. | 815 | 255209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 1859 | 60306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 3707 | 339672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tapestry, Inc | 678 | 59535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 1482 | 146199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.\* | 15388 | 945131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.\* | 9141 | 2903730 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 3642 | 449751 |
| &nbsp;&nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 219 | 39847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Co. | 17632 | 930441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.\* | 147 | 68770 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.\* | 1065 | 84806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 12369 | 1943541 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; VSE Corp. | 4635 | $607092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | 2341 | 26875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc | 14094 | 1378111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 401 | 65511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc. | 889 | 299362 |
| &nbsp;&nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 143 | 148754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 16250 | 1319662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts, Ltd. | 287 | 26883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 907 | 134399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25592335 |
|  Consumer, Non-cyclical (16.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories | 5675 | 771857 |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc | 5762 | 1069542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Addus HomeCare Corp.\* . | 4057 | 467326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. . | 3609 | 425898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Align Technology, Inc.\* | 222 | 42031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\* | 3515 | 1146206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Altria Group, Inc | 5495 | 322172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc | 1754 | 489734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amicus Therapeutics, Inc.\* | 18245 | 104544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Annexon, Inc.\* | 72921 | 175010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | 1567 | 82706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arlo Technologies, Inc.\* | 49133 | 833296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 1324 | 408322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp | 255 | 44745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avidity Biosciences, Inc.\* . | 11648 | 330803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc.\* | 2908 | 303566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc . | 1674 | 50689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 935 | 161054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc.\* | 478 | 60032 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioLife Solutions, Inc.\* | 43836 | 944227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Techne Corp. | 3938 | 202610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blueprint Medicines Corp.\* | 2373 | 304171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.\* | 4826 | 518361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. . | 6639 | 307319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown-Forman Corp. Cl B | 594 | 15985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Global SA | 438 | 35163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 779 | 130872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cencora, Inc | 563 | 168816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centene Corp.\* | 1623 | 88096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.\* | 160 | 24277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | 803 | 77176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna Group | 871 | 287935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cintas Corp. | 1120 | 249614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clorox Co. | 402 | 48268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Co. | 12636 | 893997 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 2030 | $226650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 2644 | 240340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | 1557 | 31872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. Cl A | 499 | 81177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooper Cos., Inc.\* | 2740 | 194978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.\* | 10339 | 758883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corpay, Inc.\* | 230 | 76319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. | 2225 | 165829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crimson Wine Group Ltd.\* | 37737 | 207554 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | 4127 | 284680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 2078 | 410488 |
| &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* | 135 | 19231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.\* | 3771 | 329171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dyne Therapeutics, Inc.\* . | 3560 | 33891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.\* | 1914 | 149694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 737 | 286664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Co | 2566 | 2000274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. . | 3405 | 417555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | 405 | 105045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. Cl A | 764 | 61731 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Advantage Corp.\* | 109645 | &nbsp;&nbsp;&nbsp;&nbsp;1821203 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc | 1494 | 110661 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 1786 | 92533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 4058 | 449910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc | 796 | 63712 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 565 | 216452 |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthEquity, Inc.\* | 7405 | 775748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Henry Schein, Inc.\* | 397 | 29001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hershey Co. | 483 | 80154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hologic, Inc.\* | 727 | 47371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 951 | 28768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc | 1341 | 327848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huron Consulting Group, Inc.\* | 2723 | 374521 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.\*. | 3024 | 1621892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Incyte Corp.\* | 524 | 35684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc.\* | 5808 | 584517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp.\* | 891 | 279934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.\* | 1169 | 635246 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.\* | 3923 | 618226 |
| &nbsp;&nbsp;&nbsp;&nbsp; iRhythm Technologies, Inc.\* | 1521 | 234173 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | 347 | 34075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 7849 | 1198935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kellanova | 877 | 69748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kenvue, Inc. | 6263 | 131085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 4431 | 146489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 1082 | 139491 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 2818 | $72761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kroger Co | 1998 | 143317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.\* | 2321 | 319045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 273 | 71665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 18248 | 946159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\* | 3067 | 251065 |
| &nbsp;&nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | 2374 | 197161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc.\* | 827 | 250283 |
| &nbsp;&nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | 122 | 27248 |
| &nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 824 | 62476 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 408 | 298974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medtronic PLC | 4184 | 364719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 8191 | 648400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderna, Inc.\* | 1110 | 30625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.\* | 177 | 52728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. Cl B | 559 | 26882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. Cl A | 4224 | 284867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.\* . | 2291 | 143508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moody's Corp | 505 | 253303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neogen Corp.\* | 29144 | 139308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomad Foods Ltd. | 13660 | 232083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.\* | 7801 | 229349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Option Care Health, Inc.\* . | 5401 | 175425 |
| &nbsp;&nbsp;&nbsp;&nbsp; OrthoPediatrics Corp.\* | 12425 | 266889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp.\* | 1172 | 212355 |
| &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.\* | 3172 | 235743 |
| &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc | 4473 | 590615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group Co.\* | 12716 | &nbsp;&nbsp;&nbsp;&nbsp;1112269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. | 18546 | 449555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 5077 | 924674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Co | 7648 | 1218479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 1524 | 576194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc | 364 | 65385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 339 | 177975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repligen Corp.\* | 2140 | 266173 |
| &nbsp;&nbsp;&nbsp;&nbsp; ResMed, Inc | 478 | 123324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Revvity, Inc | 385 | 37237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollins, Inc. | 917 | 51737 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. | 1024 | 539945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. Cl A\* | 12844 | 1272969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simply Good Foods Co.\* . | 5207 | 164489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Soleno Therapeutics, Inc.\* | 5257 | 440431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp.\* | 452 | 34280 |
| &nbsp;&nbsp;&nbsp;&nbsp; STERIS PLC | 1206 | 289705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stevanato Group SpA | 46780 | 1142835 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp | 1122 | $443897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.\* | 13558 | 427348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 1581 | 119745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, Inc.\* | 9115 | 369249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleflex, Inc. | 4215 | 498887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.\* | 1772 | 311872 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Campbell's Company | 642 | 19677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 1231 | 499121 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransUnion | 5477 | 481976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods, Inc. Cl A | 934 | 52248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultragenyx Pharmaceutical, Inc.\* | 3296 | 119843 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Rentals, Inc. | 212 | 159721 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. . | 2959 | 923119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Services, Inc. Cl B | 187 | 33875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vericel Corp.\* | 10675 | 454221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 1424 | 443576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.\* | 838 | 373078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viatris, Inc. | 3829 | 34193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waters Corp.\* | 194 | 67714 |
| &nbsp;&nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 234 | 51199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.\* | 6453 | 201979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 645 | 58830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 1452 | 226439 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49602239 |
|  Energy (4.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Corp. | 1177 | 21527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 19916 | 763580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 3320 | 808486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp | 5298 | 758621 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 4118 | 369549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 2490 | 63196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy Corp. | 11921 | 379207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 610 | 83814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.\* | 428 | 16970 |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 1780 | 212906 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp | 1953 | 113899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 11815 | 1381646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 14060 | 1515668 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc.\* | 350 | 57939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halliburton Co. | 2804 | 57146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 904 | 125240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 6306 | 185396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 30580 | 351058 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Energy (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 1002 | $166442 |
| &nbsp;&nbsp;&nbsp;&nbsp; MPLX LP | 4575 | 235658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Noble Corp. PLC | 6498 | 172522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 31926 | 905102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 2311 | 97085 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 2038 | 166362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 10887 | 414250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Corp. | 31101 | 423596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 1329 | 158550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger NV | 4437 | 149971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp | 708 | 123249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. . | 62 | 65496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valaris Ltd.\* | 3600 | 151596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. | 1022 | 137377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 20949 | 1315807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11948911 |
|  Financial (17.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aflac, Inc. | 1587 | 167365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 502 | 36460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp. | 864 | 173932 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. | 1805 | 575759 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Financial Group, Inc. | 3487 | 440094 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 22998 | 844947 |
| &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. | 1880 | 160909 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | 1527 | 337498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. . | 2903 | 1549418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon PLC Cl A | 704 | 251159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 1473 | 208975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. | 9427 | 858328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co . | 835 | 267300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 165 | 32586 |
| &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 464 | 94424 |
| &nbsp;&nbsp;&nbsp;&nbsp; BancFirst Corp | 2501 | 309174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 21376 | 1011512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp | 2334 | 212651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Cl B\* | 5982 | 2905876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackrock, Inc | 475 | 498394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Inc. | 2380 | 356000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 8196 | 213424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 7665 | 849819 |
| &nbsp;&nbsp;&nbsp;&nbsp; BXP, Inc. | 475 | 32048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust | 7986 | 899942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 2087 | 444030 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 342 | $79758 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBRE Group, Inc. Cl A\* | 958 | 134235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 5571 | 508298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chubb Ltd. | 1216 | 352300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Financial Corp | 510 | 75949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 6093 | 518636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | 1415 | 63321 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 1176 | 324129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Cl A\* | 690 | 241838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Scientific, Inc.\* | 42272 | 721583 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group, Inc.\* | 5032 | 404573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | 10353 | 310901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 1421 | 145979 |
| &nbsp;&nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc . | 9520 | 164315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curbline Properties Corp. . | 21420 | 489019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 1033 | 180083 |
| &nbsp;&nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 4050 | 408969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Financial Services Corp. | 9643 | 531329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | 319 | 253755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Residential | 1115 | 75251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erie Indemnity Co. Cl A | 82 | 28437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essent Group Ltd | 11067 | 672099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 6637 | 211787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 210 | 59514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everest Group Ltd. | 139 | 47239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Extra Space Storage, Inc | 692 | 102028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 253 | 24032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 18739 | 770735 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 28933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | 1011 | 24112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. | 6722 | 313783 |
| &nbsp;&nbsp;&nbsp;&nbsp; German American Bancorp, Inc. | 13233 | 509603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Globe Life, Inc. | 269 | 33434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 1001 | 708458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 9687 | 556034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 3629 | 460411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. | 16504 | 288985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | 2263 | 34760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 2198 | 395530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 4752 | 79644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 1871 | 343272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Ltd | 1460 | 23024 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 1860 | $61008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 962 | 98672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 20378 | 791482 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 9066 | 2628324 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 3218 | 56058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty Corp | 2207 | 46391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kite Realty Group Trust | 18613 | 421584 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR & Co., Inc | 2208 | 293730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loews Corp. | 568 | 52063 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 4394 | 852392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 1607 | 351354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. Cl A | 2646 | 1486893 |
| &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. | 1839 | 147892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc | 382 | 56540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 4030 | 567666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 1348 | 120538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 635 | 80512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 5836 | 204435 |
| &nbsp;&nbsp;&nbsp;&nbsp; PJT Partners, Inc. Cl A | 4366 | 720434 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 1290 | 240482 |
| &nbsp;&nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 7463 | 286355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Primerica, Inc | 4025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Principal Financial Group, Inc. | 673 | 53456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progressive Corp. | 1912 | 510236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 3027 | 318198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. . | 1155 | 124093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Storage | 515 | 151111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | 3409 | 522838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | 2946 | 169719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. | 533 | 37966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regions Financial Corp. | 2932 | 68961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc | 1751 | 347328 |
| &nbsp;&nbsp;&nbsp;&nbsp; RLI Corp | 6884 | 497162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 1744 | 172080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 23174 | 427329 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications Corp | 351 | 82429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 8743 | 757581 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 9927 | 769442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 1001 | 160921 |
| &nbsp;&nbsp;&nbsp;&nbsp; SouthState Corp. | 5230 | 481317 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp. | 930 | $98896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stifel Financial Corp | 2632 | 273149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stock Yards Bancorp, Inc. | 9312 | 735462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | 1242 | 82891 |
| &nbsp;&nbsp;&nbsp;&nbsp; T Rowe Price Group, Inc. . | 719 | 69384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terreno Realty Corp | 6600 | 370062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travelers Cos., Inc | 739 | 197712 |
| &nbsp;&nbsp;&nbsp;&nbsp; TriCo Bancshares | 8980 | 363600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 4272 | 183653 |
| &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. | 983 | 40136 |
| &nbsp;&nbsp;&nbsp;&nbsp; UMB Financial Corp | 5292 | 556507 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 5082 | 229961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ventas, Inc. | 4695 | 296489 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 3447 | 112372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. Cl A | 5581 | 1981534 |
| &nbsp;&nbsp;&nbsp;&nbsp; W R Berkley Corp. | 978 | 71854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co | 10615 | 850474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc | 4752 | 730525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 11850 | 304427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 323 | 99000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 4258 | 527907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 19263 | 242136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51180800 |
|  Industrial (12.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M Co. | 1756 | 267333 |
| &nbsp;&nbsp;&nbsp;&nbsp; A O Smith Corp. | 379 | 24851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 2310 | 306075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegion PLC | 281 | 40498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amcor PLC | 7475 | 68695 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 7381 | 1335666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. Cl A | 15933 | 1573384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc | 5555 | 1291260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc. | 3836 | 332620 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\* | 1359 | 1125170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | 905 | 50761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boeing Co.\* | 2460 | 515444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.\* | 6585 | 768404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 2129 | 794969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 2601 | 190367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc. Cl A\* | 3096 | 357216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 1534 | 595514 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc. | 387 | 37133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.\* | 2307 | 379848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors, Inc.\* | 3874 | 895591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crane Co. | 2687 | 510234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Holdings, Inc | 12040 | 1239879 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp | 6128 | 199957 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. | 823 | $418487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dover Corp | 2178 | 399075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 1276 | 455519 |
| &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 1090 | 583030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Co. | 1835 | 244661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enpro, Inc | 3043 | 582887 |
| &nbsp;&nbsp;&nbsp;&nbsp; ESCO Technologies, Inc. . | 7716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc | 447 | 51070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exponent, Inc | 3831 | 286214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fabrinet\* | 1813 | 534255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Signal Corp | 6997 | 744621 |
| &nbsp;&nbsp;&nbsp;&nbsp; FedEx Corp. | 719 | 163436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortive Corp. | 1120 | 58386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Garmin Ltd. | 502 | 104777 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE Vernova, Inc | 890 | 470944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc.\* | 193 | 27640 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Dynamics Corp. . | 822 | 239745 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. | 3479 | 895460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Graco, Inc. | 7119 | 612020 |
| &nbsp;&nbsp;&nbsp;&nbsp; HEICO Corp. Cl A | 2832 | 732780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 2096 | 488116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc . | 1317 | 245133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubbell, Inc. | 174 | 71063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | 129 | 31148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ichor Holdings Ltd.\* | 7444 | 146200 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX Corp. | 246 | 43190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 870 | 215108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc | 1316 | 109465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc | 350 | 76335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc | 392 | 51528 |
| &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 256 | 36762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 2147 | 226766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.\* | 564 | 92417 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 610 | 153012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. . | 104 | 59617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 680 | 314935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 197 | 108145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 688 | 44280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materion Corp. | 3481 | 276287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury Systems, Inc.\* | 10605 | 571185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.\* | 68 | 79881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.\* | 3336 | 480384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Modine Manufacturing Co.\* | 4758 | 468663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mohawk Industries, Inc.\* | 169 | 17718 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 12688 | $1008315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordson Corp | 176 | 37729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 735 | 188138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp | 441 | 220491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novanta, Inc.\* | 2471 | 318586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 607 | 98516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 1287 | 127439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging Corp. of America | 291 | 54839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 417 | 291262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pentair PLC | 537 | 55128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralliant Corp.\* | 0 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc.\* | 2901 | 1116305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic Services, Inc. | 663 | 163502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 368 | 122239 |
| &nbsp;&nbsp;&nbsp;&nbsp; RTX Corp. | 4358 | 636355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saia, Inc.\* | 1834 | 502498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 1886 | 292915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 1618 | 69817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap-on, Inc | 171 | 53212 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPX Technologies, Inc.\* | 1236 | 207252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 505 | 34214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.\* | 2841 | 655504 |
| &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity PLC | 967 | 163104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.\* | 2018 | 1033842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textron, Inc. | 589 | 47291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies PLC | 728 | 318434 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | 183 | 278277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trimble, Inc.\* | 778 | 59112 |
| &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\* | 11110 | 453510 |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 9013 | 895532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 1949 | 448426 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. Cl B | 2393 | 241549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veralto Corp. | 3242 | 327280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vontier Corp. | 13788 | 508777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co | 2246 | 585802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. . | 1195 | 273440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp | 558 | 116817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc. | 794 | 102712 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38501860 |
|  Technology (22.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accenture PLC Cl A | 2042 | 610333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.\* | 1390 | 537763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.\* | 5289 | 750509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.\* | 4324 | 495703 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.\* | 477 | $38045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 1618 | 385116 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANSYS, Inc.\* | 287 | 100800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 48722 | 9996293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 2650 | 485135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlassian Corp. Cl A\* | 2741 | 556670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.\* | 698 | 216080 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackLine, Inc.\* | 8042 | 455338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 15338 | 4227920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 383 | 93080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.\* | 891 | 274562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cloudflare, Inc. Cl A\* | 3667 | 718109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Cl A | 1608 | 125472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. Cl A\* | 813 | 414069 |
| &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.\* . | 2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc. Cl A\* | 3219 | 432408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dayforce, Inc.\* | 522 | 28914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Cl C | 977 | 119780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digi International, Inc.\* | 7334 | 255663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 744 | 118817 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPAM Systems, Inc.\* | 1057 | 186899 |
| &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.\* | 8909 | 390125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\* | 79 | 144409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 1714 | 139537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc.\* | 1809 | 311890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.\* | 2072 | 219052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc.\* | 251 | 101459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grid Dynamics Holdings, Inc.\* | 25597 | 295645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guidewire Software, Inc.\* . | 2122 | 499625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 4285 | 87628 |
| &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 3075 | 75214 |
| &nbsp;&nbsp;&nbsp;&nbsp; HubSpot, Inc.\* | 1031 | 573886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. | 14229 | 318730 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. | 3032 | 893773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 912 | 718319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 238 | 42880 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp. | 431 | 386064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp | 4173 | 406200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 420 | 66259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 1754 | 123429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 3646 | 449369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 24246 | 12060203 |
| &nbsp;&nbsp;&nbsp;&nbsp; MKS, Inc. | 1677 | 166627 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 518 | $378855 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc. | 820 | 472927 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 664 | 70749 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 79554 | 12568736 |
| &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors NV . | 824 | 180036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc.\* | 3177 | 317605 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\* | 7945 | 416397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Onto Innovation, Inc.\* | 1580 | 159469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 5306 | 1160051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palantir Technologies, Inc. Cl A\* | 6939 | 945924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 1046 | 152151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc. | 159 | 36793 |
| &nbsp;&nbsp;&nbsp;&nbsp; PDF Solutions, Inc.\* | 6873 | 146945 |
| &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\* | 2162 | 372599 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc | 3579 | 569992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rambus, Inc.\* | 6610 | 423172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc. . | 2765 | 1567313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc. | 3130 | 853520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 692 | 99876 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.\* | 675 | 693954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simulations Plus, Inc. | 6097 | 106393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc . | 490 | 36515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.\* | 1674 | 82043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys, Inc.\* | 1202 | 616241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.\* | 5766 | 1400273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. | 523 | 47028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc | 2964 | 615386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.\* | 141 | 83590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc.\* | 6257 | 317543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veeva Systems, Inc. Cl A\* | 2777 | 799720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Digital Corp. | 1138 | 72821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Workday, Inc. Cl A\* | 707 | 169680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.\* | 6504 | 445199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Cl A\* | 166 | 51188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67525817 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Utilities (3.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AES Corp. | 2322 | $24427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 838 | 50674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameren Corp. | 882 | 84707 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 1743 | 180854 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Water Works Co., Inc. | 636 | 88474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 2458 | 378802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | 6979 | 391522 |
| &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc . | 2129 | 78219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 3512 | 422213 |
| &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. | 976 | 67617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc | 1175 | 117911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 1022 | 329861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc | 2782 | 157239 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co. | 677 | 89675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | 2535 | 299130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edison International | 1255 | 64758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 6224 | 517339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evergy, Inc. | 15801 | 1089163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy | 1198 | 76217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 3293 | 142982 |
| &nbsp;&nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 1676 | 67476 |
| &nbsp;&nbsp;&nbsp;&nbsp; H2O America | 8123 | 422152 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc | 6715 | 466155 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | 27516 | 1109995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 7292 | 374080 |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 11326 | 1818729 |
| &nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. | 7169 | 99936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp | 389 | 34804 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPL Corp. | 2412 | 81743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | 1628 | 137045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sempra | 2127 | 161163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co | 3585 | 329211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spire, Inc. | 5980 | 436480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 1107 | 214548 |
| &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. . | 1041 | 108472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 1881 | 128096 |
|  |  | 10641869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks<br>(Cost: $197,301,467) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289584656 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **ALL AMERICA FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (0.5%):** |  |  |  |  |  |
|  U.S. Government (0.5%) | U.S. Government (0.5%) | U.S. Government (0.5%) | U.S. Government (0.5%) | U.S. Government (0.5%) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.21 | 07/24/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747992 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill(1) | A-1+ | 4.34 | 08/07/25 | 600000 | 597408 |
|  |  |  |  |  | 1345400 |
|  Total Short-Term Debt Securities<br>(Cost: $1,345,400) | Total Short-Term Debt Securities<br>(Cost: $1,345,400) | Total Short-Term Debt Securities<br>(Cost: $1,345,400) | Total Short-Term Debt Securities<br>(Cost: $1,345,400) | Total Short-Term Debt Securities<br>(Cost: $1,345,400) | 1345400 |
|  |  |  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (1.7%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares |  |  | 4.11 | $5028692 | $5028692 |
|  Total Temporary Cash Investment<br>(Cost: $5,028,692) | Total Temporary Cash Investment<br>(Cost: $5,028,692) | Total Temporary Cash Investment<br>(Cost: $5,028,692) | Total Temporary Cash Investment<br>(Cost: $5,028,692) | Total Temporary Cash Investment<br>(Cost: $5,028,692) | 5028692 |
|  Total Investments<br>(Cost: $203,675,559) 99.3% | Total Investments<br>(Cost: $203,675,559) 99.3% | Total Investments<br>(Cost: $203,675,559) 99.3% | Total Investments<br>(Cost: $203,675,559) 99.3% | Total Investments<br>(Cost: $203,675,559) 99.3% | 295958748 |
|  Other Net Assets 0.7% | Other Net Assets 0.7% | Other Net Assets 0.7% | Other Net Assets 0.7% | Other Net Assets 0.7% | 1984530 |
|  Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $297943278 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

(1) This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. Information on futures contracts outstanding in the Fund as of June 30, 2025, was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract Type** | **Number of<br>Contracts** | **Purchased (P)<br>or Sold (S)** | **Expiration**<br>**Date** | **Underlying<br>Face Amount<br>at Value** | **Unrealized<br>Gain(Loss)(a)** | **Face Value<br>of Futures<br>as a %**<br>**of Total**<br>**Investments** |
|  E-mini S&P 500 Stock Index | 11 | P | September 2025 | $3439563 | $61525 | 1.2% |

---

(a) Includes the cumulative appreciation(depreciation) of futures contracts, which is included in Total Distributable Earnings (Loss) in the Components of Net Assets section of the Statements of Assets and Liabilities. The Receivable or Payable for Daily Variation on Futures Contracts in the Statements of Assets and Liabilities only includes the current day's variation margin payable or receivable.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP VALUE FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (99.2%):** |  |  |
|  Basic Materials (3.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashland, Inc. | 92084 | $4629984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innospec, Inc. | 37868 | 3184320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 46532 | 5208792 |
|  |  | 13023096 |
|  Communications (2.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc. | 214537 | 7633226 |
|  Consumer, Cyclical (11.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.\* | 145761 | 2338006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp.\* | 141635 | 3674012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. | 100350 | 2953301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | 20712 | 3734788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miller Industries, Inc | 84715 | 3766429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.\* | 90359 | 5549850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 39973 | 6280957 |
| &nbsp;&nbsp;&nbsp;&nbsp; VSE Corp. | 63342 | 8296535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 68985 | 5602272 |
|  |  | 42196150 |
|  Consumer, Non-cyclical (14.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Annexon, Inc.\* | 491343 | 1179223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arlo Technologies, Inc.\* | 289876 | 4916297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avidity Biosciences, Inc.\* . | 83175 | 2362170 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioLife Solutions, Inc.\* | 292061 | 6290994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.\* | 46568 | 3418091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crimson Wine Group Ltd.\* | 507142 | 2789281 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Advantage Corp.\* | 413952 | 6875743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.\* | 12896 | 1772684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomad Foods Ltd. | 186668 | 3171489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.\* | 77634 | 2282440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Soleno Therapeutics, Inc.\* | 19628 | 1644434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stevanato Group SpA | 337390 | 8242438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.\* | 119069 | 3753055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, Inc.\* | 55647 | 2254260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vericel Corp.\* | 72219 | 3072918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.\* | 37581 | 1176285 |
|  |  | 55201802 |
|  Energy (5.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 219439 | 2519160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Noble Corp. PLC | 88925 | 2360959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 209130 | 5928836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 140411 | 5342639 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Energy (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Corp. | 412756 | $5621737 |
|  |  | 21773331 |
|  Financial (41.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 294176 | 10808025 |
| &nbsp;&nbsp;&nbsp;&nbsp; BancFirst Corp | 31243 | 3862260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Scientific, Inc.\* | 240005 | 4096885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | 143231 | 4301227 |
| &nbsp;&nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc . | 127797 | 2205776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curbline Properties Corp. . | 145211 | 3315167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Financial Services Corp. | 124994 | 6887169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essent Group Ltd | 141496 | 8593052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 85262 | 2720710 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 186383 | 6706060 |
| &nbsp;&nbsp;&nbsp;&nbsp; German American Bancorp, Inc. | 181073 | 6973121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 124684 | 7156862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 159220 | 6184105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kite Realty Group Trust | 243258 | 5509794 |
| &nbsp;&nbsp;&nbsp;&nbsp; PJT Partners, Inc. Cl A | 13819 | 2280273 |
| &nbsp;&nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 95202 | 3652901 |
| &nbsp;&nbsp;&nbsp;&nbsp; RLI Corp | 88194 | 6369371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 297204 | 5480442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 71495 | 6195042 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 71192 | 5518092 |
| &nbsp;&nbsp;&nbsp;&nbsp; SouthState Corp. | 68418 | 6296509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stifel Financial Corp | 36400 | 3777592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stock Yards Bancorp, Inc. | 124999 | 9872421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terreno Realty Corp | 58186 | 3262489 |
| &nbsp;&nbsp;&nbsp;&nbsp; TriCo Bancshares | 114382 | 4631327 |
| &nbsp;&nbsp;&nbsp;&nbsp; UMB Financial Corp | 67141 | 7060548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 58259 | 7222951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 263457 | 3311654 |
|  |  | 154251825 |
|  Industrial (13.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc. | 49169 | 4263444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enpro, Inc | 39008 | 7471982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ichor Holdings Ltd.\* | 100613 | 1976039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materion Corp. | 27101 | 2151006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury Systems, Inc.\* | 69979 | 3769069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.\* | 24475 | 3524400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 122582 | 9741592 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP VALUE FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 24043 | $3734118 |
| &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\* | 141615 | 5780724 |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 66713 | 6628604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vontier Corp. | 86482 | 3191186 |
|  |  | 52232164 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (0.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Digi International, Inc.\* | 95373 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324703 |
|  Utilities (5.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | 90526 | 5078509 |
| &nbsp;&nbsp;&nbsp;&nbsp; H2O America | 106106 | 5514329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 94584 | 4852159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spire, Inc. | 76253 | 5565706 |
|  |  | 21010703 |
|  Total Common Stocks<br>(Cost: $321,093,290) |  | 370647000 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (0.8%):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government (0.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.24 | 07/08/25 | $3000000 | $2997542 |
|  Total Short-Term Debt Securities<br>(Cost: $2,997,542) | Total Short-Term Debt Securities<br>(Cost: $2,997,542) | Total Short-Term Debt Securities<br>(Cost: $2,997,542) | Total Short-Term Debt Securities<br>(Cost: $2,997,542) | Total Short-Term Debt Securities<br>(Cost: $2,997,542) | 2997542 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $1153586 | $1153586 |
|  Total Temporary Cash Investment<br>(Cost: $1,153,586) |  |  | 1153586 |
|  Total Investments<br>(Cost: $325,244,418) 100.3% |  |  | 374798128 |
|  Other Net Assets -0.3% |  |  | (1122776) |
|  Net Assets 100.0% |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373675352 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP GROWTH FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (98.2%):** |  |  |
|  Basic Materials (1.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Innospec, Inc. | 29132 | $2449710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 46481 | 5203083 |
|  |  | 7652793 |
|  Communications (3.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Credo Technology Group Holding, Ltd.\* | 87647 | 8115236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.\* | 53613 | 5017640 |
|  |  | 13132876 |
|  Consumer, Cyclical (9.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.\* | 221418 | 3551545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.\* | 29187 | 1983549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. | 127396 | 3749264 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMAX Corp.\* | 75892 | 2121940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | 23781 | 4288190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 15141 | 6159359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc.\* | 38655 | 5093956 |
| &nbsp;&nbsp;&nbsp;&nbsp; OneSpaWorld Holdings, Ltd. | 179270 | 3655315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.\* | 40548 | 2490458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 36432 | 5724560 |
|  |  | 38818136 |
|  Consumer, Non-cyclical (29.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Addus HomeCare Corp.\* . | 54310 | 6255969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amicus Therapeutics, Inc.\* | 253455 | 1452297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Annexon, Inc.\* | 491909 | 1180582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arlo Technologies, Inc.\* | 371337 | 6297876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avidity Biosciences, Inc.\* . | 76991 | 2186544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc.\* | 40395 | 4216834 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioLife Solutions, Inc.\* | 283422 | 6104910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blueprint Medicines Corp.\* | 31174 | 3995883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 28170 | 3145180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.\* | 84979 | 6237459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dyne Therapeutics, Inc.\* . | 47451 | 451734 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Advantage Corp.\* | 354701 | 5891584 |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthEquity, Inc.\* | 44282 | 4638982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huron Consulting Group, Inc.\* | 33669 | 4630834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc.\* | 80684 | 8120038 |
| &nbsp;&nbsp;&nbsp;&nbsp; iRhythm Technologies, Inc.\* | 21131 | 3253329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.\* | 19291 | 2651741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\* | 40257 | 3295438 |
| &nbsp;&nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | 32982 | 2739155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc.\* | 11482 | 3474912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neogen Corp.\* | 404875 | 1935302 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.\* | 30415 | $894201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Option Care Health, Inc.\* . | 75033 | 2437072 |
| &nbsp;&nbsp;&nbsp;&nbsp; OrthoPediatrics Corp.\* | 172608 | 3707620 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simply Good Foods Co.\* . | 65748 | 2076979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Soleno Therapeutics, Inc.\* | 52430 | 4392585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stevanato Group SpA | 307341 | 7508341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.\* | 67438 | 2125646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, Inc.\* | 65468 | 2652109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.\* | 23589 | 4151664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vericel Corp.\* | 75786 | 3224694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.\* | 49713 | 1556017 |
|  |  | 116883511 |
|  Energy (3.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 23895 | 2794281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 210456 | 2416035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 224609 | 6367665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valaris Ltd.\* | 50014 | 2106090 |
|  |  | 13684071 |
|  Financial (11.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Scientific, Inc.\* | 308223 | 5261367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curbline Properties Corp. . | 131917 | 3011665 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 196435 | 7067731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 29441 | 5297908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 81078 | 2840162 |
| &nbsp;&nbsp;&nbsp;&nbsp; PJT Partners, Inc. Cl A | 43775 | 7223313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Primerica, Inc | 15984 | 4374341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 24223 | 2390083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 44818 | 3883480 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 62298 | 4828718 |
|  |  | 46178768 |
|  Industrial (24.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 32094 | 4252455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc | 26112 | 6069734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc. Cl A\* | 43010 | 4962494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.\* | 30744 | 5062000 |
| &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 8223 | 4398401 |
| &nbsp;&nbsp;&nbsp;&nbsp; ESCO Technologies, Inc. . | 61989 | 11893829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exponent, Inc | 50716 | 3788992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fabrinet\* | 24076 | 7094716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Signal Corp | 93401 | 9939734 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP GROWTH FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Materion Corp. | 20858 | $1655499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury Systems, Inc.\* | 67269 | 3623108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Modine Manufacturing Co.\* | 63118 | 6217123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novanta, Inc.\* | 32907 | 4242700 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc.\* | 16267 | 6259542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saia, Inc.\* | 7417 | 2032184 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPX Technologies, Inc.\* | 17170 | 2879066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.\* | 37726 | 8704520 |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 57492 | 5712405 |
|  |  | 98788502 |
|  Technology (12.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.\* | 57566 | 6599366 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackLine, Inc.\* | 111720 | 6325586 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.\* . | 15610 | $6351397 |
| &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.\* | 123770 | 5419888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grid Dynamics Holdings, Inc.\* | 355595 | 4107122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Onto Innovation, Inc.\* | 21956 | 2216019 |
| &nbsp;&nbsp;&nbsp;&nbsp; PDF Solutions, Inc.\* | 95482 | 2041405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rambus, Inc.\* | 91827 | 5878765 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simulations Plus, Inc. | 84698 | 1477980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc.\* | 86917 | 4411038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.\* | 86597 | 5927565 |
|  |  | 50756131 |
|  Utilities (1.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 46748 | 5620045 |
|  Total Common Stocks<br>(Cost: $321,306,884) |  | 391514833 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (1.0%):** |  |  |  |  |  |
|  Commercial Paper (1.0%) | Commercial Paper (1.0%) | Commercial Paper (1.0%) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | $3900000 | $3900000 |
|  Total Short-Term Debt Securities<br>(Cost: $3,900,000) |  |  |  |  | 3900000 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(1)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $84571 | $84571 |
|  Total Temporary Cash Investment<br>(Cost: $84,571) |  |  | 84571 |
|  Total Investments<br>(Cost: $325,291,455) 99.2% |  |  | 395499404 |
|  Other Net Assets 0.8% |  |  | 3314771 |
|  Net Assets 100.0% |  |  | $398814175 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (99.8%):** |  |  |
|  Basic Materials (3.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AdvanSix, Inc | 3444 | $81795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balchem Corp. | 4190 | 667048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Celanese Corp | 14054 | 777608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Century Aluminum Co.\* | 6712 | 120950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemours Co | 19227 | 220149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Element Solutions, Inc. | 28660 | 649149 |
| &nbsp;&nbsp;&nbsp;&nbsp; FMC Corp. | 16046 | 669921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hawkins, Inc | 2431 | 345445 |
| &nbsp;&nbsp;&nbsp;&nbsp; HB Fuller Co. | 6962 | 418764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingevity Corp.\* | 4684 | 201834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innospec, Inc. | 3206 | 269593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | 2056 | 164274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koppers Holdings, Inc. | 2570 | 82626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. | 4076 | 224465 |
| &nbsp;&nbsp;&nbsp;&nbsp; MP Materials Corp.\* | 15538 | 516949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 1749 | 195783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rogers Corp.\* | 2166 | 148328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sensient Technologies Corp | 5454 | 537328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stepan Co. | 2726 | 148785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sylvamo Corp. | 4394 | 220139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6660933 |
|  Communications (4.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A10 Networks, Inc. | 9260 | 179181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angi, Inc.\* | 5425 | 82785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cable One, Inc | 593 | 80535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Calix, Inc.\* | 7411 | 394191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cargurus, Inc.\* | 10872 | 363886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cars.com, Inc.\* | 7432 | 88069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc. | 5451 | 262793 |
| &nbsp;&nbsp;&nbsp;&nbsp; ePlus, Inc.\* | 3384 | 243986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.\* | 13396 | 671943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Extreme Networks, Inc.\* | 17107 | 307071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gogo, Inc.\* | 7684 | 112801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harmonic, Inc.\* | 14528 | 137580 |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthStream, Inc. | 3098 | 85722 |
| &nbsp;&nbsp;&nbsp;&nbsp; IAC, Inc.\* | 8371 | 312573 |
| &nbsp;&nbsp;&nbsp;&nbsp; InterDigital, Inc | 3332 | 747134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liquidity Services, Inc.\* | 2928 | 69072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.\* | 131788 | 577231 |
| &nbsp;&nbsp;&nbsp;&nbsp; QuinStreet, Inc.\* | 7316 | 117788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Scholastic Corp. | 3023 | 63423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shenandoah Telecommunications Co. | 5919 | 80854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shutterstock, Inc. | 3125 | 59250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprinklr, Inc. Cl A\* | 14746 | 124751 |
| &nbsp;&nbsp;&nbsp;&nbsp; TechTarget, Inc.\* | 3488 | 27102 |
| &nbsp;&nbsp;&nbsp;&nbsp; TEGNA, Inc. | 20647 | 346044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc. | 12670 | 450799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thryv Holdings, Inc.\* | 5281 | 64217 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Communications (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc.\* | 15170 | $197969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viasat, Inc.\* | 10947 | 159826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.\* | 28677 | 288777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yelp, Inc.\* | 8201 | 281048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ziff Davis, Inc.\* | 5407 | 163670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7142071 |
|  Consumer, Cyclical (13.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. | 8546 | 382946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. . | 3397 | 247370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adient PLC\* | 10793 | 210032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc. . | 7686 | 357322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Co.\* | 1859 | 102152 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings, Inc.\* | 15201 | 62020 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. | 20254 | 194843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.\* | 2525 | 602313 |
| &nbsp;&nbsp;&nbsp;&nbsp; BJ's Restaurants, Inc.\* | 2841 | 126709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. | 9725 | 83732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.\* . | 3930 | 597360 |
| &nbsp;&nbsp;&nbsp;&nbsp; BorgWarner, Inc. | 28225 | 944973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brinker International, Inc.\* | 5710 | 1029684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Buckle, Inc. | 3893 | 176548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caleres, Inc. | 4380 | 53524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carter's, Inc. | 4681 | 141039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cavco Industries, Inc.\* | 1029 | 447028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Century Communities, Inc. | 3453 | 194473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Champion Homes, Inc.\* | 6769 | 423807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. . | 5853 | 366749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cinemark Holdings, Inc. | 12967 | 391344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc. | 2860 | 174689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dana, Inc. | 16662 | 285753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dave & Buster's Entertainment, Inc.\* | 3552 | 106844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dorman Products, Inc.\* | 3488 | 427873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dream Finders Homes, Inc. Cl A\* | 3682 | 92529 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ethan Allen Interiors, Inc. . | 2907 | 80960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foot Locker, Inc.\* | 10680 | 261660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp.\* | 5358 | 138986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.\* | 6266 | 425837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gentherm, Inc.\* | 3964 | 112142 |
| &nbsp;&nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd.\* . | 4894 | 109626 |
| &nbsp;&nbsp;&nbsp;&nbsp; GMS, Inc.\* | 4931 | 536246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. | 2547 | 74958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Green Brick Partners, Inc.\* | 3893 | 244792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. . | 1628 | 710964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guess?, Inc. | 3541 | 42811 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hanesbrands, Inc.\* | 45429 | $208065 |
| &nbsp;&nbsp;&nbsp;&nbsp; HNI Corp. | 5980 | 294096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | 2927 | 527797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interface, Inc. | 7529 | 157582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack in the Box, Inc. | 2425 | 42340 |
| &nbsp;&nbsp;&nbsp;&nbsp; JetBlue Airways Corp.\* | 39146 | 165588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kohl's Corp. | 14301 | 121272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | 6424 | 423791 |
| &nbsp;&nbsp;&nbsp;&nbsp; La-Z-Boy, Inc. | 5304 | 197150 |
| &nbsp;&nbsp;&nbsp;&nbsp; LCI Industries | 3242 | 295638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leggett & Platt, Inc. | 17361 | 154860 |
| &nbsp;&nbsp;&nbsp;&nbsp; LGI Homes, Inc.\* | 2646 | 136322 |
| &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc.\* | 3441 | 385805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Madison Square Garden Sports Corp.\* | 2153 | 449869 |
| &nbsp;&nbsp;&nbsp;&nbsp; MarineMax, Inc.\* | 2427 | 61015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meritage Homes Corp. | 9227 | 617932 |
| &nbsp;&nbsp;&nbsp;&nbsp; MillerKnoll, Inc. | 8703 | 169012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monarch Casino & Resort, Inc. | 1637 | 141502 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Vision Holdings, Inc.\* | 10155 | 233667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc | 53658 | 289753 |
| &nbsp;&nbsp;&nbsp;&nbsp; OPENLANE, Inc.\* | 13795 | 337288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oxford Industries, Inc | 1796 | 72289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Papa John's International, Inc. | 4206 | 205842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries, Inc. | 4294 | 396207 |
| &nbsp;&nbsp;&nbsp;&nbsp; PC Connection, Inc. | 1533 | 100841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.\*. | 18691 | 334008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phinia, Inc. | 5113 | 227477 |
| &nbsp;&nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 3197 | 335813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pursuit Attractions and Hospitality, Inc.\* | 2759 | 79542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Resideo Technologies, Inc.\* | 19077 | 420839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rush Enterprises, Inc. Cl A | 7861 | 404920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabre Corp.\* | 49818 | 157425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sally Beauty Holdings, Inc.\* | 12961 | 120019 |
| &nbsp;&nbsp;&nbsp;&nbsp; ScanSource, Inc.\* | 2670 | 111633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shake Shack, Inc. Cl A\* | 5167 | 726480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shoe Carnival, Inc. | 2282 | 42696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Signet Jewelers Ltd. | 5510 | 438320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp | 12078 | 367534 |
| &nbsp;&nbsp;&nbsp;&nbsp; SkyWest, Inc.\* | 5198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. Cl A | 1859 | 148590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonos, Inc.\* | 15426 | 166755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Standard Motor Products, Inc. | 2682 | 82391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steven Madden Ltd. | 9330 | 223733 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Country Airlines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Holdings, Inc.\* | 5058 | $59431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Titan International, Inc.\* | 6219 | 63869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp.\* | 18176 | 146317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.\* | 11647 | 372122 |
| &nbsp;&nbsp;&nbsp;&nbsp; UniFirst Corp. | 1928 | 362888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Urban Outfitters, Inc.\* | 7261 | 526713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Victoria's Secret & Co.\* | 10256 | 189941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. | 3600 | 104400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. | 10411 | 188231 |
| &nbsp;&nbsp;&nbsp;&nbsp; XPEL, Inc.\* | 2914 | 104613 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24190099 |
|  Consumer, Non-cyclical (17.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ABM Industries, Inc. | 7994 | 377397 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals, Inc.\* | 15910 | 343179 |
| &nbsp;&nbsp;&nbsp;&nbsp; AdaptHealth Corp.\* | 13557 | 127842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Addus HomeCare Corp.\* . | 2332 | 268623 |
| &nbsp;&nbsp;&nbsp;&nbsp; ADMA Biologics, Inc.\* | 30668 | 558464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc.\* | 4615 | 587166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc.\* | 6390 | 361482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alkermes PLC\* | 21183 | 606046 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMN Healthcare Services, Inc.\* | 4918 | 101655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc.\* . | 4723 | 108440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Andersons, Inc | 4143 | 152255 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANI Pharmaceuticals, Inc.\* | 2186 | 142636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcus Biosciences, Inc.\* | 8705 | 70859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arlo Technologies, Inc.\* | 13283 | 225280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc.\* . | 16144 | 255075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Artivion, Inc.\* | 4937 | 153541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astrana Health, Inc.\* | 5332 | 132660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avanos Medical, Inc.\* | 5941 | 72718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Azenta, Inc.\* | 5881 | 181017 |
| &nbsp;&nbsp;&nbsp;&nbsp; B&G Foods, Inc. | 10251 | 43362 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioLife Solutions, Inc.\* | 4766 | 102660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc | 5544 | 552349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc.\* | 14729 | 319619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Co.\* | 1085 | 38170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Co. Cl A\* | 6345 | 198535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certara, Inc.\* | 14172 | 165812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc.\* | 4547 | 290144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.\* | 4129 | 122095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. | 13995 | 287877 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp. | 3975 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.\* | 12124 | 889902 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoreCivic, Inc.\* | 14022 | 295444 |
| &nbsp;&nbsp;&nbsp;&nbsp; CorVel Corp.\* | 3497 | 359422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cytek Biosciences, Inc.\* | 13179 | 44809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deluxe Corp. | 5747 | 91435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dynavax Technologies Corp.\* | 14346 | 142312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. | 6041 | 141420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Embecta Corp. | 7508 | 72752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enovis Corp.\* | 7338 | 230120 |
| &nbsp;&nbsp;&nbsp;&nbsp; EVERTEC, Inc. | 8172 | 294601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortrea Holdings, Inc.\* | 11626 | 57432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. | 4310 | 139730 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEO Group, Inc.\* | 17801 | 426334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glaukos Corp.\* | 7340 | 758149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grocery Outlet Holding Corp.\* | 12594 | 156417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc.\* | 4942 | 156167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc.\* | 9367 | 140786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heidrick & Struggles International, Inc. | 2649 | 121218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helen of Troy Ltd.\* | 2947 | 83636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hertz Global Holdings, Inc.\* | 15894 | 108556 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICU Medical, Inc.\* | 3162 | 417858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innoviva, Inc.\* | 7096 | 142559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.\* | 3789 | 491699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Integer Holdings Corp.\* | 4482 | 551152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.\* | 8585 | 105338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interparfums, Inc. | 2311 | 303457 |
| &nbsp;&nbsp;&nbsp;&nbsp; J & J Snack Foods Corp. . | 1999 | 226707 |
| &nbsp;&nbsp;&nbsp;&nbsp; John B Sanfilippo & Son, Inc. | 1177 | 74433 |
| &nbsp;&nbsp;&nbsp;&nbsp; John Wiley & Sons, Inc. Cl A | 5248 | 234218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korn Ferry | 6634 | 486471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.\* | 3267 | 449082 |
| &nbsp;&nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | 2641 | 219335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.\* | 2479 | 281813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Matthews International Corp. Cl A | 3983 | 95234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc.\* | 7592 | 709700 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | 1749 | 52418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mister Car Wash, Inc.\* | 12101 | 72727 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Monro, Inc. | 3847 | $57359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Myriad Genetics, Inc.\* | 11841 | 62876 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Beverage Corp.\* . | 3007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130023 |
| &nbsp;&nbsp;&nbsp;&nbsp; National HealthCare Corp. | 1590 | 170146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neogen Corp.\* | 25371 | 121273 |
| &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc.\* | 16532 | 120849 |
| &nbsp;&nbsp;&nbsp;&nbsp; OmniAb, Inc. Cl CR3\* | 1207 | 0‡ |
| &nbsp;&nbsp;&nbsp;&nbsp; OmniAb, Inc. Cl CR4\* | 1207 | 0‡ |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.\* | 6018 | 176929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Organon & Co. | 33394 | 323254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Owens & Minor, Inc.\* | 9434 | 85849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.\* . | 5948 | 142157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payoneer Global, Inc.\* | 33451 | 229139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc.\* | 10818 | 155238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perdoceo Education Corp. | 7913 | 258676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phibro Animal Health Corp. Cl A | 2616 | 66813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Premier, Inc. Cl A | 10578 | 231976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc.\* | 6348 | 506888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Privia Health Group, Inc.\* . | 13469 | 309787 |
| &nbsp;&nbsp;&nbsp;&nbsp; PROG Holdings, Inc. | 5184 | 152150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progyny, Inc.\* | 9580 | 210760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc.\* | 7962 | 440060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanex Building Products Corp | 6035 | 114061 |
| &nbsp;&nbsp;&nbsp;&nbsp; QuidelOrtho Corp.\* | 8514 | 245373 |
| &nbsp;&nbsp;&nbsp;&nbsp; RadNet, Inc.\* | 8482 | 482711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Robert Half, Inc. | 12898 | 529463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Select Medical Holdings Corp | 13375 | 203032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simply Good Foods Co.\* . | 11809 | 373046 |
| &nbsp;&nbsp;&nbsp;&nbsp; SpartanNash Co. | 4348 | 115178 |
| &nbsp;&nbsp;&nbsp;&nbsp; STAAR Surgical Co.\* | 6360 | 106721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Strategic Education, Inc . | 3073 | 261604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stride, Inc.\* | 5514 | 800578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.\* | 7192 | 226692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.\* | 8556 | 159484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleflex, Inc. | 5677 | 671930 |
| &nbsp;&nbsp;&nbsp;&nbsp; TG Therapeutics, Inc.\* | 17420 | 626946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tootsie Roll Industries, Inc. | 2148 | 71851 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc.\* . | 4346 | 582407 |
| &nbsp;&nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc.\* | 5839 | 113393 |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Technologies, Inc.\* | 941 | 229755 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc.\* | 7775 | 181235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Corp. | 3175 | 184912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Upbound Group, Inc. | 6611 | 165936 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Physical Therapy, Inc | 1952 | 152646 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USANA Health Sciences, Inc.\* | 1388 | $42376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vericel Corp.\* | 6467 | 275171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verra Mobility Corp.\* | 20480 | 519987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestis Corp | 14728 | 84391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vir Biotechnology, Inc.\* | 11898 | 59966 |
| &nbsp;&nbsp;&nbsp;&nbsp; WD-40 Co. | 1740 | 396877 |
| &nbsp;&nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | 23430 | 641982 |
| &nbsp;&nbsp;&nbsp;&nbsp; WK Kellogg Co. | 8533 | 136016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xencor, Inc.\* | 9143 | 71864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29558605 |
|  Energy (4.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc.\* | 1409 | 158484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Archrock, Inc. | 22713 | 563964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Energy Solutions, Inc. | 9369 | 125264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristow Group, Inc.\* | 3179 | 104812 |
| &nbsp;&nbsp;&nbsp;&nbsp; California Resources Corp. | 8935 | 408061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comstock Resources, Inc.\* | 11665 | 322771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Laboratories, Inc. | 6023 | 69385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. | 6426 | 448149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crescent Energy Co. Cl A | 23608 | 203029 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVR Energy, Inc. | 4391 | 117898 |
| &nbsp;&nbsp;&nbsp;&nbsp; DNOW, Inc.\* | 13561 | 201110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc.\* | 18298 | 114179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc. | 12771 | 193608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innovex International, Inc.\* | 4962 | 77506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 20805 | 238841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp. Cl A | 24016 | 539880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 12619 | 357749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oceaneering International, Inc.\* | 12922 | 267744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc.\* | 6626 | 175788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 45121 | 267568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peabody Energy Corp. | 15621 | 209634 |
| &nbsp;&nbsp;&nbsp;&nbsp; ProPetro Holding Corp.\* | 10278 | 61360 |
| &nbsp;&nbsp;&nbsp;&nbsp; REX American Resources Corp.\* | 1878 | 91477 |
| &nbsp;&nbsp;&nbsp;&nbsp; RPC, Inc | 10865 | 51391 |
| &nbsp;&nbsp;&nbsp;&nbsp; SM Energy Co. | 14704 | 363336 |
| &nbsp;&nbsp;&nbsp;&nbsp; SolarEdge Technologies, Inc.\* | 7585 | 154734 |
| &nbsp;&nbsp;&nbsp;&nbsp; SunCoke Energy, Inc. | 10874 | 93408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunrun, Inc.\* | 29351 | 240091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Talos Energy, Inc.\* | 15818 | 134137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tidewater, Inc.\* | 5847 | 269722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vital Energy, Inc.\* | 3492 | 56186 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Energy (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc | 6752 | $309444 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6990710 |
|  Financial (28.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acadia Realty Trust | 16823 | 312403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc | 3449 | 121543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp | 13352 | 780958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexander & Baldwin, Inc | 9341 | 166550 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Assets Trust, Inc. | 6065 | 119784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameris Bancorp | 8289 | 536298 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMERISAFE, Inc. | 2446 | 106964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. | 16421 | 158955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc. | 28423 | 331696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arbor Realty Trust, Inc. | 24685 | 264130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Armada Hoffler Properties, Inc. | 10297 | 70740 |
| &nbsp;&nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, Inc. | 10502 | 176539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc. Cl A . | 9047 | 401054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assured Guaranty Ltd. | 5925 | 516068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp | 18301 | 572455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axos Financial, Inc.\* | 6880 | 523155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banc of California, Inc. | 16444 | 231038 |
| &nbsp;&nbsp;&nbsp;&nbsp; BancFirst Corp | 2562 | 316714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bancorp, Inc.\* | 6000 | 341820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Hawaii Corp. | 5104 | 344673 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | 9662 | 343871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banner Corp | 4442 | 284954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hills Bancorp, Inc. | 5862 | 146784 |
| &nbsp;&nbsp;&nbsp;&nbsp; BGC Group, Inc. Cl A | 48650 | 497690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc. Cl A | 21733 | 418360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brandywine Realty Trust | 22217 | 95311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. | 5980 | 341578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookline Bancorp, Inc | 11446 | 120755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capitol Federal Financial, Inc. | 15695 | 95740 |
| &nbsp;&nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | 24624 | 753494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cathay General Bancorp . | 9006 | 410043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centerspace | 2150 | 129409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Pacific Financial Corp | 3465 | 97124 |
| &nbsp;&nbsp;&nbsp;&nbsp; City Holding Co. | 1860 | 227701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cleanspark, Inc.\* | 35729 | 394091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cohen & Steers, Inc | 3471 | 261540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Community Financial System, Inc. | 6789 | 386090 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Curbline Properties Corp. . | 12164 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cushman & Wakefield PLC\* | 29711 | 328901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Customers Bancorp, Inc.\*. | 3774 | 221685 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVB Financial Corp. | 16640 | 329306 |
| &nbsp;&nbsp;&nbsp;&nbsp; DiamondRock Hospitality Co. | 26503 | 203013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc | 5066 | 136478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Douglas Emmett, Inc. | 21510 | 323510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eagle Bancorp, Inc. | 3902 | 76011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc. | 5419 | 120302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ellington Financial, Inc | 12141 | 157712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elme Communities | 11325 | 180067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Employers Holdings, Inc. . | 3088 | 145692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc. | 3663 | 136080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.\* | 2999 | 116091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enova International, Inc.\* . | 3259 | 363444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 25372 | 809621 |
| &nbsp;&nbsp;&nbsp;&nbsp; eXp World Holdings, Inc. . | 11034 | 100409 |
| &nbsp;&nbsp;&nbsp;&nbsp; EZCORP, Inc. Cl A\* | 6686 | 92802 |
| &nbsp;&nbsp;&nbsp;&nbsp; FB Financial Corp. | 4427 | 200543 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Bancorp | 5321 | 234603 |
| &nbsp;&nbsp;&nbsp;&nbsp; First BanCorp | 20612 | 429348 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Commonwealth Financial Corp. | 13437 | 218083 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Bancorp | 12298 | 298349 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Hawaiian, Inc. | 16150 | 403104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | 12907 | 347327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin BSP Realty Trust, Inc. | 10561 | 112897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fulton Financial Corp | 23353 | 421288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genworth Financial, Inc.\* . | 53241 | 414215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Getty Realty Corp. | 6552 | 181097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. | 24623 | 185904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goosehead Insurance, Inc. Cl A | 3219 | 339637 |
| &nbsp;&nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. | 15535 | 417270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hanmi Financial Corp. | 3848 | 94969 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCI Group, Inc | 1196 | 182031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heritage Financial Corp. | 4381 | 104443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Highwoods Properties, Inc. | 13849 | 430565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilltop Holdings, Inc. | 5851 | 177578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. | 16286 | 174749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Horace Mann Educators Corp | 5238 | 225077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independent Bank Corp . | 5475 | 344295 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. | 3598 | $198682 |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares Core S&P Small-Cap ETF | 25270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jackson Financial, Inc. Cl A | 9177 | 814826 |
| &nbsp;&nbsp;&nbsp;&nbsp; JBG SMITH Properties | 9384 | 162343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kennedy-Wilson Holdings, Inc. | 15278 | 103890 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR Real Estate Finance Trust, Inc. | 7317 | 64170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lakeland Financial Corp. . | 3283 | 201740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lincoln National Corp. | 21933 | 758882 |
| &nbsp;&nbsp;&nbsp;&nbsp; LTC Properties, Inc. | 5900 | 204199 |
| &nbsp;&nbsp;&nbsp;&nbsp; LXP Industrial Trust | 37993 | 313822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macerich Co | 32455 | 525122 |
| &nbsp;&nbsp;&nbsp;&nbsp; MARA Holdings, Inc.\* | 45209 | 708877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marcus & Millichap, Inc. | 3103 | 95293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medical Properties Trust, Inc. | 77179 | 332641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury General Corp. | 3415 | 229966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Millrose Properties, Inc.\* | 15449 | 440451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moelis & Co. Cl A | 9530 | 593910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mr Cooper Group, Inc.\* | 8220 | 1226506 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Bank Holdings Corp. Cl A | 4894 | 184063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp. | 9355 | 131906 |
| &nbsp;&nbsp;&nbsp;&nbsp; NBT Bancorp, Inc | 6721 | 279258 |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Mortgage Trust, Inc. | 11600 | 77720 |
| &nbsp;&nbsp;&nbsp;&nbsp; NexPoint Residential Trust, Inc. | 2826 | 94162 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMI Holdings, Inc.\* | 10036 | 423419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwest Bancshares, Inc. | 16411 | 209733 |
| &nbsp;&nbsp;&nbsp;&nbsp; OFG Bancorp | 5770 | 246956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Outfront Media, Inc. | 17814 | 290724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pacific Premier Bancorp, Inc. | 12468 | 262950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palomar Holdings, Inc.\* | 3435 | 529849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park National Corp. | 1872 | 313111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | 3026 | 239417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust | 15246 | 152308 |
| &nbsp;&nbsp;&nbsp;&nbsp; PennyMac Mortgage Investment Trust | 11177 | 143736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 16109 | 564298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piper Sandler Cos. | 2111 | 586731 |
| &nbsp;&nbsp;&nbsp;&nbsp; PJT Partners, Inc. Cl A | 3138 | 517801 |
| &nbsp;&nbsp;&nbsp;&nbsp; PRA Group, Inc.\* | 5095 | 75151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred Bank | 1485 | 128519 |
| &nbsp;&nbsp;&nbsp;&nbsp; ProAssurance Corp.\* | 6589 | 150427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Provident Financial Services, Inc. | 16785 | 294241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Radian Group, Inc. | 17257 | 621597 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ready Capital Corp. | 21903 | $95716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redwood Trust, Inc. | 17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Renasant Corp | 11839 | 425375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 7708 | 760548 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&T Bancorp, Inc | 4924 | 186226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safehold, Inc. | 5897 | 91757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safety Insurance Group, Inc. | 1913 | 151873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saul Centers, Inc. | 1555 | 53088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of Florida | 10923 | 301693 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 6454 | 500250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simmons First National Corp. Cl A | 16180 | 306773 |
| &nbsp;&nbsp;&nbsp;&nbsp; SiriusPoint Ltd.\* | 11832 | 241254 |
| &nbsp;&nbsp;&nbsp;&nbsp; SITE Centers Corp. | 6063 | 68573 |
| &nbsp;&nbsp;&nbsp;&nbsp; SL Green Realty Corp. | 9123 | 564714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southside Bancshares, Inc. | 3648 | 107361 |
| &nbsp;&nbsp;&nbsp;&nbsp; St Joe Co. | 4861 | 231870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellar Bancorp, Inc. | 5885 | 164662 |
| &nbsp;&nbsp;&nbsp;&nbsp; StepStone Group, Inc. Cl A | 8477 | 470474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | 3586 | 233449 |
| &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.\* | 5593 | 509746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. | 14038 | 71453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | 25545 | 221731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger, Inc. | 14538 | 444572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terreno Realty Corp | 13273 | 744217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tompkins Financial Corp. . | 1613 | 101183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Triumph Financial, Inc.\* | 2853 | 157229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trupanion, Inc.\* | 4342 | 240330 |
| &nbsp;&nbsp;&nbsp;&nbsp; TrustCo Bank Corp. | 2443 | 81645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustmark Corp. | 7769 | 283258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Two Harbors Investment Corp | 13363 | 143920 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Community Banks, Inc. | 15608 | 464962 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Fire Group, Inc. | 2746 | 78810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniti Group, Inc. | 31531 | 136214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Realty Income Trust | 1637 | 65431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Urban Edge Properties | 16154 | 301434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veris Residential, Inc. | 10422 | 155184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veritex Holdings, Inc. | 6972 | 181969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Virtu Financial, Inc. Cl A | 10374 | 464651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Virtus Investment Partners, Inc. | 835 | 151469 |
| &nbsp;&nbsp;&nbsp;&nbsp; WaFd, Inc | 10297 | 301496 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. | 4147 | $292281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westamerica BanCorp | 3363 | 162904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Whitestone REIT | 5754 | 71810 |
| &nbsp;&nbsp;&nbsp;&nbsp; WisdomTree, Inc. | 14886 | 171338 |
| &nbsp;&nbsp;&nbsp;&nbsp; World Acceptance Corp.\* . | 401 | 66213 |
| &nbsp;&nbsp;&nbsp;&nbsp; WSFS Financial Corp. | 7294 | 401170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 12679 | 159375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49392139 |
|  Industrial (18.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AAR Corp.\* | 4556 | 313407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 4837 | 640902 |
| &nbsp;&nbsp;&nbsp;&nbsp; AeroVironment, Inc.\* | 3619 | 1031234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alamo Group, Inc | 1336 | 291756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albany International Corp. Cl A | 3879 | 272034 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Woodmark Corp.\* | 1906 | 101723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. . | 2771 | 112503 |
| &nbsp;&nbsp;&nbsp;&nbsp; ArcBest Corp. | 2943 | 226640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc. | 6271 | 543758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. | 5579 | 906253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astec Industries, Inc. | 2937 | 122444 |
| &nbsp;&nbsp;&nbsp;&nbsp; AZZ, Inc. | 3843 | 363087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Badger Meter, Inc. | 3784 | 926891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benchmark Electronics, Inc. | 4637 | 180055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boise Cascade Co. | 4834 | 419688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brady Corp. Cl A | 5624 | 382263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cactus, Inc. Cl A | 8795 | 384517 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSW Industrials, Inc. | 2156 | 618405 |
| &nbsp;&nbsp;&nbsp;&nbsp; CTS Corp. | 3834 | 163367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dorian LPG Ltd. | 4674 | 113952 |
| &nbsp;&nbsp;&nbsp;&nbsp; DXP Enterprises, Inc.\* | 1633 | 143132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dycom Industries, Inc.\* | 3697 | 903510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | 8439 | 170130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enerpac Tool Group Corp. | 6948 | 281811 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enpro, Inc | 2703 | 517760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enviri Corp.\* | 10341 | 89760 |
| &nbsp;&nbsp;&nbsp;&nbsp; ESCO Technologies, Inc. . | 3317 | 636433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everus Construction Group, Inc.\* | 6551 | 416185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Signal Corp | 7832 | 833481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Air Corp.\* | 2697 | 66184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Electric Co., Inc. . | 5037 | 452020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontdoor, Inc.\* | 9453 | 557160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gates Industrial Corp. PLC\* | 29471 | 678717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gibraltar Industries, Inc.\* . | 3788 | 223492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Granite Construction, Inc | 5619 | 525433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greenbrier Cos., Inc. | 4032 | 185674 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Griffon Corp. | 5014 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hayward Holdings, Inc.\* | 18338 | 253064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heartland Express, Inc. | 5550 | 47952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand, Inc. | 9051 | 181654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hub Group, Inc. Cl A | 7794 | 260553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ichor Holdings Ltd.\* | 4383 | 86082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insteel Industries, Inc | 2494 | 92802 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Seaways, Inc. | 5197 | 189587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Itron, Inc.\* | 5856 | 770825 |
| &nbsp;&nbsp;&nbsp;&nbsp; JBT Marel Corp. | 5942 | 714585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kadant, Inc | 1513 | 480302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kennametal, Inc | 9793 | 224847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Knowles Corp.\* | 11173 | 196868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc.\* | 21380 | 993101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lindsay Corp. | 1396 | 201373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marten Transport Ltd. | 7433 | 96555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterbrand, Inc.\* | 16281 | 177951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materion Corp. | 2674 | 212235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Matson, Inc. | 4194 | 467002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury Systems, Inc.\* | 6525 | 351437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mesa Laboratories, Inc. | 698 | 65766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallus, Inc.\* | 4750 | 73198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moog, Inc. Cl A | 3634 | 657645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. Cl A | 20127 | 483853 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYR Group, Inc.\* | 1994 | 361811 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Presto Industries, Inc. | 661 | 64752 |
| &nbsp;&nbsp;&nbsp;&nbsp; NV5 Global, Inc.\* | 6746 | 155765 |
| &nbsp;&nbsp;&nbsp;&nbsp; O-I Glass, Inc.\* | 19871 | 292899 |
| &nbsp;&nbsp;&nbsp;&nbsp; OSI Systems, Inc.\* | 2006 | 451069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Plexus Corp.\* | 3480 | 470879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Powell Industries, Inc | 1209 | 254434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Proto Labs, Inc.\* | 3054 | 122282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralliant Corp.\* | 15250 | 739473 |
| &nbsp;&nbsp;&nbsp;&nbsp; RXO, Inc.\* | 18319 | 287975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanmina Corp.\* | 6868 | 671896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider National, Inc. Cl B | 6038 | 145818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sealed Air Corp. | 18890 | 586157 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPX Technologies, Inc.\* | 6000 | 1006080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Standex International Corp. | 1551 | 242700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.\* | 3907 | 901462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sturm Ruger & Co., Inc. | 2127 | 76359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tennant Co | 2396 | 185642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinity Industries, Inc. | 10484 | 283173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Triumph Group, Inc.\* | 9944 | 256058 |
| &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\* | 13055 | 532905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vicor Corp.\* | 2967 | 134583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | 14432 | 229180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Werner Enterprises, Inc. | 7933 | 217047 |
| &nbsp;&nbsp;&nbsp;&nbsp; World Kinect Corp. | 7274 | 206218 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Worthington Enterprises, Inc. | 3976 | $253033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Worthington Steel, Inc. | 4498 | 134175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp | 18155 | 663928 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32365614 |
|  Technology (7.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ACI Worldwide, Inc.\* | 13475 | 618637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adeia, Inc. | 13938 | 197083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.\* | 2884 | 330622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor Ltd.\* | 3135 | 80444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings, Inc.\* . | 19379 | 457538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.\* | 4127 | 287611 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackLine, Inc.\* | 6645 | 376240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc. Cl A\* | 18603 | 635665 |
| &nbsp;&nbsp;&nbsp;&nbsp; CEVA, Inc.\* | 3072 | 67523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clear Secure, Inc. Cl A | 11853 | 329039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cohu, Inc.\* | 5974 | 114940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corsair Gaming, Inc.\* | 5845 | 55118 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSG Systems International, Inc. | 3548 | 231720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digi International, Inc.\* | 4762 | 166003 |
| &nbsp;&nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc.\* | 8069 | 230451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diodes, Inc.\* | 5961 | 315277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Donnelley Financial Solutions, Inc.\* | 3266 | 201349 |
| &nbsp;&nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc.\* | 17326 | 259370 |
| &nbsp;&nbsp;&nbsp;&nbsp; DXC Technology Co.\* | 23285 | 356028 |
| &nbsp;&nbsp;&nbsp;&nbsp; FormFactor, Inc.\* | 9901 | 340693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grid Dynamics Holdings, Inc.\* | 8037 | 92827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc.\* | 3016 | 334987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.\* | 3527 | 487026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. | 6779 | 234553 |
| &nbsp;&nbsp;&nbsp;&nbsp; LiveRamp Holdings, Inc.\* . | 8448 | 279122 |
| &nbsp;&nbsp;&nbsp;&nbsp; MaxLinear, Inc.\* | 10097 | 143478 |
| &nbsp;&nbsp;&nbsp;&nbsp; N-able, Inc.\* | 9229 | 74755 |
| &nbsp;&nbsp;&nbsp;&nbsp; NCR Atleos Corp.\* | 9436 | 269209 |
| &nbsp;&nbsp;&nbsp;&nbsp; NCR Voyix Corp.\* | 17696 | 207574 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetScout Systems, Inc.\* | 9163 | 227334 |
| &nbsp;&nbsp;&nbsp;&nbsp; PDF Solutions, Inc.\* | 4022 | 85990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penguin Solutions, Inc.\* | 6777 | 134252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Photronics, Inc.\* | 8165 | 153747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pitney Bowes, Inc. | 20257 | 221004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progress Software Corp. . | 5527 | 352844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Qorvo, Inc.\* | 11998 | 1018750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sandisk Corp.\* | 17359 | 787231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schrodinger, Inc.\* | 7176 | 144381 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **SMALL CAP EQUITY INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Semtech Corp.\* | 11128 | $502318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simulations Plus, Inc. | 2093 | 36523 |
| &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp.\* | 2683 | 571694 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPS Commerce, Inc.\* | 4879 | 663983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teradata Corp.\* | 12281 | 273989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc.\* | 5800 | 130906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veeco Instruments, Inc.\* | 7699 | 156444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xerox Holdings Corp. | 15028 | 79198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13315470 |
|  Utilities (2.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American States Water Co. | 4947 | 379237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avista Corp. | 10349 | 392745 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Utilities (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; California Water Service Group | 7652 | $348013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 2997 | 360299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearway Energy, Inc. Cl A | 4447 | 134566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearway Energy, Inc. Cl C | 10695 | 342240 |
| &nbsp;&nbsp;&nbsp;&nbsp; H2O America | 3996 | 207672 |
| &nbsp;&nbsp;&nbsp;&nbsp; MDU Resources Group, Inc. | 26248 | 437554 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGE Energy, Inc. | 4694 | 415137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Middlesex Water Co | 2302 | 124723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwest Natural Holding Co. | 5178 | 205670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otter Tail Corp. | 5383 | 414976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unitil Corp. | 2088 | 108889 |
|  |  | 3871721 |
|  Total Common Stocks<br>(Cost: $163,194,539) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173487362 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(1)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $13528 | $13528 |
|  Total Temporary Cash Investment<br>(Cost: $13,528) |  |  | 13528 |
|  Total Investments<br>(Cost: $163,208,067) 99.8% |  |  | 173500890 |
|  Other Net Assets 0.2% |  |  | 275558 |
|  Net Assets 100.0% |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173776448 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

‡ Level 3 Security.

(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP VALUE FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (97.6%):** |  |  |
|  Basic Materials (2.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashland, Inc. | 52394 | $2634370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems Ltd.\* | 47719 | 1416777 |
| &nbsp;&nbsp;&nbsp;&nbsp; FMC Corp. | 35234 | 1471020 |
|  |  | 5522167 |
|  Consumer, Cyclical (8.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 55719 | 2062160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 6350 | 2583180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.\* | 47167 | 2896997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Co. | 34677 | 1829905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 22935 | 3603777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 37902 | 3078022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16054041 |
|  Consumer, Non-cyclical (15.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. . | 6568 | 775090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\* | 7420 | 2419588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Techne Corp. | 31488 | 1620058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooper Cos., Inc.\* | 18449 | 1312831 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Advantage Corp.\* | 190667 | 3166979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc | 8392 | 2051676 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.\*. | 4489 | 2407630 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.\* | 10109 | 1593077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 65555 | 3399027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group Co.\* | 44820 | 3920405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. Cl A\* | 26674 | 2643660 |
| &nbsp;&nbsp;&nbsp;&nbsp; STERIS PLC | 7824 | 1879481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleflex, Inc. | 15816 | 1871982 |
|  |  | 29061484 |
|  Energy (7.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 64071 | 2456482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy Corp. | 91544 | 2912015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 16653 | 1947402 |
| &nbsp;&nbsp;&nbsp;&nbsp; MPLX LP | 43840 | 2258198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 67669 | 4250290 |
|  |  | 13824387 |
|  Financial (24.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Financial Group, Inc. | 31321 | 3953024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. . | 9344 | 4987173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. | 34529 | 3143866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 72735 | 1894019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust | 27967 | 3151601 |
| &nbsp;&nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 38811 | 3919135 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 55653 | $2289008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. | 64413 | 3006799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 24060 | 3052492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. | 136448 | 2389205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 73354 | 2849069 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 14588 | 2829926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc | 16295 | 3232276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terreno Realty Corp | 23130 | 1296899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ventas, Inc. | 28754 | 1815815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 90884 | 2334810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;46145117 |
|  Industrial (23.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 20446 | 3699908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. Cl A | 30940 | 3055325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc | 12664 | 2943747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.\* | 24260 | 2830899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 8591 | 3207879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors, Inc.\* | 13797 | 3189591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crane Co. | 24697 | 4689713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Holdings, Inc | 50360 | 5186073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dover Corp | 15406 | 2822841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.\* | 13640 | 1964160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 31018 | 2465001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.\* | 7910 | 4052372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veralto Corp. | 22574 | 2278845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vontier Corp. | 65025 | 2399423 |
|  |  | 44785777 |
|  Technology (5.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MKS, Inc. | 16076 | 1597311 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\* | 22449 | 1176552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc. . | 6904 | 3913463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.\* | 15764 | 3828288 |
|  |  | 10515614 |
|  Utilities (9.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 18077 | 2785847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 45695 | 3798168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evergy, Inc. | 62238 | 4290065 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | 79482 | 3206304 |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 20328 | 3264270 |
|  |  | 17344654 |
|  Total Common Stocks<br>(Cost: $168,436,060) |  | 183253241 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP VALUE FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (2.1%):** |  |  |  |  |  |
|  Commercial Paper (2.1%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | $3900000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900000 |
|  Total Short-Term Debt Securities<br>(Cost: $3,900,000) |  |  |  |  | 3900000 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(1)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $74197 | $74197 |
|  Total Temporary Cash Investment<br>(Cost: $74,197) |  |  | 74197 |
|  Total Investments<br>(Cost: $172,410,257) 99.7% |  |  | 187227438 |
|  Other Net Assets 0.3% |  |  | 533879 |
|  Net Assets 100.0% |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187761317 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (98.8%):** |  |  |
|  Basic Materials (3.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcoa Corp. | 127337 | $3757715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashland, Inc. | 22476 | 1130093 |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.\* | 69387 | 5990874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avient Corp. | 45022 | 1454661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems Ltd.\* | 107502 | 3191734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cabot Corp | 26425 | 1981875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carpenter Technology Corp | 24485 | 6767164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.\* | 238440 | 1812144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Co. | 55582 | 2718516 |
| &nbsp;&nbsp;&nbsp;&nbsp; NewMarket Corp. | 3713 | 2565163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Olin Corp. | 56632 | 1137737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reliance, Inc. | 25866 | 8119338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Gold, Inc. | 32373 | 5757214 |
| &nbsp;&nbsp;&nbsp;&nbsp; RPM International, Inc. | 63167 | 6938263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westlake Corp. | 16400 | 1245252 |
|  |  | 54567743 |
|  Communications (2.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chewy, Inc. Cl A\* | 107947 | 4600701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ciena Corp.\* | 69917 | 5686350 |
| &nbsp;&nbsp;&nbsp;&nbsp; EchoStar Corp. Cl A\* | 66002 | 1828255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc.\* | 109549 | 3987584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hims & Hers Health, Inc.\* . | 96437 | 4807384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iridium Communications, Inc. | 53201 | 1605074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maplebear, Inc.\* | 80796 | 3655211 |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Times Co. Cl A . | 79815 | 4468044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 13940 | 2410923 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33049526 |
|  Consumer, Cyclical (14.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co. Cl A\* | 23432 | 1941341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alaska Air Group, Inc.\* | 59709 | 2954401 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc.\* | 324393 | 3639689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aramark | 128904 | 5397210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Autoliv, Inc. | 34982 | 3914486 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoNation, Inc.\* | 12239 | 2431277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc . | 104771 | 3138939 |
| &nbsp;&nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.\* | 64952 | 7003774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 30030 | 2349247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brunswick Corp. | 32307 | 1784639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Burlington Stores, Inc.\* | 30983 | 7207885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capri Holdings Ltd.\* | 57996 | 1026529 |
| &nbsp;&nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 18258 | 9316510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cava Group, Inc.\* | 40392 | 3402218 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Choice Hotels International, Inc. | 10874 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 35529 | 3588429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Columbia Sportswear Co | 15079 | 921025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core & Main, Inc. Cl A\* | 93162 | 5622327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crocs, Inc.\* | 27582 | 2793505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | 27783 | 5495755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dolby Laboratories, Inc. Cl A | 30204 | 2242949 |
| &nbsp;&nbsp;&nbsp;&nbsp; FirstCash Holdings, Inc. | 18985 | 2565633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Five Below, Inc.\* | 27080 | 3552354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc. Cl A\* | 52928 | 4020411 |
| &nbsp;&nbsp;&nbsp;&nbsp; GameStop Corp. Cl A\* | 200212 | 4883171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gap, Inc. | 109291 | 2383637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gentex Corp | 110574 | 2431522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co.\* | 140528 | 1457275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harley-Davidson, Inc. | 53781 | 1269232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Grand Vacations, Inc.\* | 28405 | 1179660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hyatt Hotels Corp. Cl A | 20631 | 2881119 |
| &nbsp;&nbsp;&nbsp;&nbsp; KB Home | 35284 | 1868993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lear Corp. | 26297 | 2497689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder, Inc.\* | 41503 | 3995079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors, Inc. | 12804 | 4325447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macy's, Inc. | 137022 | 1597677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. | 15628 | 1130061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc.\* | 158824 | 3132009 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc. Cl A | 21926 | 1864149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 8845 | 3598146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc.\* | 30202 | 3980020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. | 9113 | 1565705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness, Inc. Cl A\* . | 41244 | 4497658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polaris, Inc. | 25984 | 1056250 |
| &nbsp;&nbsp;&nbsp;&nbsp; PVH Corp | 23606 | 1619372 |
| &nbsp;&nbsp;&nbsp;&nbsp; RH\* | 7461 | 1410204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. | 21291 | 1404354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skechers USA, Inc. Cl A\* . | 64085 | 4043764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 101570 | 6911838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.\* | 49368 | 3032183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. | 32632 | 6115563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thor Industries, Inc. | 26169 | 2324069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers, Inc. | 48910 | 5582098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travel + Leisure Co. | 32668 | 1685995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Under Armour, Inc. Cl A\* | 92876 | 634343 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Under Armour, Inc. Cl C\* . | 63000 | $408870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 18365 | 2885692 |
| &nbsp;&nbsp;&nbsp;&nbsp; VF Corp. | 162876 | 1913793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visteon Corp.\* | 13407 | 1250873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Music Group Corp. Cl A | 71757 | 1954661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Watsco, Inc. | 17159 | 7577758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wendy's Co. | 79339 | 906051 |
| &nbsp;&nbsp;&nbsp;&nbsp; WESCO International, Inc. | 21845 | 4045694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Whirlpool Corp. | 27353 | 2774141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc. | 13725 | 4621757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 37873 | 3075666 |
| &nbsp;&nbsp;&nbsp;&nbsp; YETI Holdings, Inc.\* | 40734 | 1283936 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;206747400 |
|  Consumer, Non-cyclical (15.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc.\* | 45312 | 1028129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. Cl A . | 198235 | 4264035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amedisys, Inc.\* | 16109 | 1584965 |
| &nbsp;&nbsp;&nbsp;&nbsp; API Group Corp.\* | 119829 | 6117271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avantor, Inc.\* | 335174 | 4511442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avis Budget Group, Inc.\* . | 8309 | 1404636 |
| &nbsp;&nbsp;&nbsp;&nbsp; BellRing Brands, Inc.\* | 62466 | 3618655 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.\* | 94329 | 5185265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Rad Laboratories, Inc. Cl A\* | 9148 | 2207595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Beer Co., Inc. Cl A\* | 4049 | 772590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brink's Co | 20658 | 1844553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bruker Corp. | 54410 | 2241692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.\* | 77333 | 3587478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemed Corp | 7196 | 3503948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 28833 | 3219205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coty, Inc. Cl A\* | 180202 | 837939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cytokinetics, Inc.\* | 58742 | 1940836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.\* . | 77793 | 2951466 |
| &nbsp;&nbsp;&nbsp;&nbsp; DENTSPLY SIRONA, Inc. | 98026 | 1556653 |
| &nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc.\* | 27741 | 3452090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. . | 49579 | 6079873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ensign Group, Inc. | 28071 | 4330233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp.\* | 83365 | 1628952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euronet Worldwide, Inc.\* . | 19995 | 2027093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelixis, Inc.\* | 134137 | 5912088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flowers Foods, Inc. | 96583 | 1543396 |
| &nbsp;&nbsp;&nbsp;&nbsp; FTI Consulting, Inc.\* | 16564 | 2675086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Globus Medical, Inc. Cl A\* | 55556 | 3278915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Graham Holdings Co. Cl B | 1670 | 1580104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.\* | 13759 | 2600451 |
| &nbsp;&nbsp;&nbsp;&nbsp; GXO Logistics, Inc.\* | 56279 | 2740787 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; H&R Block, Inc | 65851 | $3614561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haemonetics Corp.\* | 24710 | 1843613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.\* | 60609 | 3152880 |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthEquity, Inc.\* | 42611 | 4463928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Illumina, Inc.\* | 77863 | 7428909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingredion, Inc. | 31633 | 4290068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insperity, Inc | 17582 | 1057030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC\* | 30315 | 3217028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lancaster Colony Corp. | 9492 | 1639933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\* | 34030 | 2785696 |
| &nbsp;&nbsp;&nbsp;&nbsp; LivaNova PLC\* | 26820 | 1207436 |
| &nbsp;&nbsp;&nbsp;&nbsp; ManpowerGroup, Inc. | 22765 | 919706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masimo Corp.\* | 22135 | 3723550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medpace Holdings, Inc.\* | 11593 | 3638579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar, Inc. | 13092 | 4109972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.\* | 48678 | 6118338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Option Care Health, Inc.\* . | 80542 | 2616004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp.\* | 21189 | 3839235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penumbra, Inc.\* | 19048 | 4888288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group Co.\* | 76776 | 6715597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perrigo Co. PLC | 67621 | 1806833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. | 19828 | 891863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.\* | 22199 | 2420357 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Global, Inc. | 91090 | 9672847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repligen Corp.\* | 25700 | 3196566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roivant Sciences Ltd.\* | 207074 | 2333724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.\* | 48339 | 826597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Service Corp. International | 70021 | 5699709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. Cl A\* | 33187 | 3289164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sotera Health Co.\* | 75394 | 838381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc.\* | 48134 | 7924782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.\* | 45687 | 8040912 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Therapeutics Corp.\* | 22187 | 6375434 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Foods Holding Corp.\* . | 113794 | 8763276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valvoline, Inc.\* | 62522 | 2367708 |
| &nbsp;&nbsp;&nbsp;&nbsp; WEX, Inc.\* | 16844 | 2474215 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;228420140 |
|  Energy (3.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Corp. | 164999 | 3126731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Antero Resources Corp.\* . | 143574 | 5783161 |
| &nbsp;&nbsp;&nbsp;&nbsp; ChampionX Corp. | 94162 | 2338984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chord Energy Corp. | 28408 | 2751315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources, Inc. | 41894 | 1152923 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNX Resources Corp.\* | 71185 | 2397511 |
| &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc. | 49969 | 5492093 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | 78772 | 3235954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Matador Resources Co. | 57273 | 2733067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy Oil Corp | 65986 | 1484685 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Energy (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NOV, Inc | 184814 | $2297238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 127795 | 4862600 |
| &nbsp;&nbsp;&nbsp;&nbsp; PBF Energy, Inc. Cl A | 48351 | 1047766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Corp. | 313687 | 4272417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Range Resources Corp. | 117544 | 4780514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valaris Ltd.\* | 32160 | 1354258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viper Energy, Inc. | 64476 | 2458470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International PLC | 35688 | 1795463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53365150 |
|  Financial (23.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. | 13983 | 2751435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agree Realty Corp. | 54011 | 3946044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc | 135981 | 5296460 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Financial Group, Inc. | 35329 | 4458873 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Homes 4 Rent Cl A | 156312 | 5638174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc | 297624 | 5601284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 80341 | 1959517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank OZK | 51967 | 2445567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc.\* | 28238 | 1518357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 150541 | 3920088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Bank | 91673 | 2931703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlyle Group, Inc. | 104803 | 5386874 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | 48764 | 1881315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | 103391 | 2417282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comerica, Inc | 64638 | 3855657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commerce Bancshares, Inc. | 59722 | 3712917 |
| &nbsp;&nbsp;&nbsp;&nbsp; COPT Defense Properties | 55407 | 1528125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | 82591 | 2480208 |
| &nbsp;&nbsp;&nbsp;&nbsp; CubeSmart | 112123 | 4765227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc. | 31621 | 4064563 |
| &nbsp;&nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 67792 | 6845636 |
| &nbsp;&nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. | 25794 | 4310693 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties | 37416 | 2179856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 149476 | 8385604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 94040 | 5799447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essent Group Ltd | 49876 | 3028969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evercore, Inc. Cl A | 17684 | 4775034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federated Hermes, Inc. | 37115 | 1644937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. | 128332 | 7194292 |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Financial Corp | 50613 | 3107132 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 63326 | $2278469 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Corp. | 249492 | 5289230 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. | 65122 | 3134322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flagstar Financial, Inc. | 149040 | 1579824 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNB Corp. | 176977 | 2580325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. | 135182 | 6310296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glacier Bancorp, Inc. | 58227 | 2508419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hamilton Lane, Inc. Cl A | 21316 | 3029430 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 42125 | 2417975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. | 17666 | 3000923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc. | 172854 | 2741464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home BancShares, Inc. | 90328 | 2570735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 26458 | 4761117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 114796 | 2030741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc. Cl A | 214374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11878463 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Bancshares Corp | 26287 | 1749663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 61998 | 2408002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | 80146 | 4383185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.\* . | 23351 | 5972719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kemper Corp. | 29589 | 1909674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kilroy Realty Corp. | 52361 | 1796506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 10893 | 5271123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kite Realty Group Trust | 108119 | 2448895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamar Advertising Co. Cl A | 43270 | 5251247 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 116788 | 3251378 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Storage Affiliates Trust | 34604 | 1106982 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | 92447 | 3991861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old National Bancorp | 160122 | 3417003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Republic International Corp | 111846 | 4299360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. | 142344 | 5216908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Hotels & Resorts, Inc. | 98321 | 1005824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 37812 | 4174823 |
| &nbsp;&nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 35180 | 1349857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Primerica, Inc | 16162 | 4423055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prosperity Bancshares, Inc. | 46867 | 3291938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rayonier, Inc. | 68960 | 1529533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc | 32506 | 6447890 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. | 23929 | $5812354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 116142 | 4131171 |
| &nbsp;&nbsp;&nbsp;&nbsp; RLI Corp | 41078 | 2966653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty Holdings, Inc. | 52948 | 3599934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 117033 | 2158089 |
| &nbsp;&nbsp;&nbsp;&nbsp; SEI Investments Co. | 46536 | 4181725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 29893 | 2590228 |
| &nbsp;&nbsp;&nbsp;&nbsp; SLM Corp | 103222 | 3384649 |
| &nbsp;&nbsp;&nbsp;&nbsp; SouthState Corp. | 48424 | 4456461 |
| &nbsp;&nbsp;&nbsp;&nbsp; STAG Industrial, Inc | 91792 | 3330214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. | 158619 | 3183483 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stifel Financial Corp | 50528 | 5243796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synovus Financial Corp . | 68376 | 3538458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc.\* | 22578 | 1792693 |
| &nbsp;&nbsp;&nbsp;&nbsp; UMB Financial Corp | 35102 | 3691326 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Bankshares, Inc. | 69708 | 2539462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unum Group | 78902 | 6372126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valley National Bancorp | 234272 | 2092049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vornado Realty Trust | 82140 | 3141034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc | 47364 | 3362844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Webster Financial Corp. | 82747 | 4517986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Alliance Bancorp | 53616 | 4180976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Union Co. | 162575 | 1368881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 32921 | 4081546 |
| &nbsp;&nbsp;&nbsp;&nbsp; WP Carey, Inc. | 107707 | 6718763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp NA | 72586 | 3770117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;344847447 |
|  Industrial (22.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AAON, Inc. | 33218 | 2449828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acuity, Inc | 15054 | 4491210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. | 34727 | 3988743 |
| &nbsp;&nbsp;&nbsp;&nbsp; AECOM | 65075 | 7344365 |
| &nbsp;&nbsp;&nbsp;&nbsp; AGCO Corp. | 30448 | 3141016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc | 18733 | 4354486 |
| &nbsp;&nbsp;&nbsp;&nbsp; AptarGroup, Inc. | 32483 | 5081316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics, Inc.\* | 25515 | 3251376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avnet, Inc. | 41247 | 2189391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Belden, Inc. | 19427 | 2249647 |
| &nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies, Inc. | 44938 | 6473768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 21226 | 7925788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.\* | 22103 | 3639259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors, Inc.\* | 24773 | 5727022 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNH Industrial NV | 430189 | 5575249 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cognex Corp. | 82568 | $2619057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp.\* | 76457 | 6820729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 17312 | 9282868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crane Co. | 24039 | 4564766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Holdings, Inc | 56595 | 5828153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 18538 | 9056740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Donaldson Co., Inc. | 58787 | 4076878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 16373 | 3309147 |
| &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 22015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11775603 |
| &nbsp;&nbsp;&nbsp;&nbsp; EnerSys | 19393 | 1663338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Esab Corp. | 28029 | 3378896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exponent, Inc | 24963 | 1864986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fabrinet\* | 17624 | 5193440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flex Ltd.\* | 188436 | 9406725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flowserve Corp. | 64301 | 3366157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fluor Corp.\* | 80994 | 4152562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | 59153 | 3045196 |
| &nbsp;&nbsp;&nbsp;&nbsp; GATX Corp | 17560 | 2696514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Graco, Inc. | 82207 | 7067336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | 148423 | 3127273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greif, Inc. Cl A | 12841 | 834537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hexcel Corp. | 39552 | 2234292 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITT, Inc. | 38710 | 6070889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kirby Corp.\* | 27594 | 3129436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Knife River Corp.\* | 27865 | 2274899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Knight-Swift Transportation Holdings, Inc. | 79707 | 3525441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Landstar System, Inc. | 17189 | 2389615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | 27459 | 5692800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Littelfuse, Inc. | 12157 | 2756357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp | 30463 | 2619513 |
| &nbsp;&nbsp;&nbsp;&nbsp; MasTec, Inc.\* | 30155 | 5139317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.\* | 26306 | 3788064 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSA Safety, Inc. | 19333 | 3238857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 54425 | 4325155 |
| &nbsp;&nbsp;&nbsp;&nbsp; NEXTracker, Inc. Cl A\* | 70686 | 3843198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novanta, Inc.\* | 17693 | 2281158 |
| &nbsp;&nbsp;&nbsp;&nbsp; nVent Electric PLC | 80979 | 5931712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oshkosh Corp. | 31663 | 3595017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Owens Corning | 41835 | 5753149 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc.\* | 15418 | 5932846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | 32629 | 4729900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryder System, Inc. | 20334 | 3233106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saia, Inc.\* | 13100 | 3589269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | 71955 | 2166565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | 39996 | 2166983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 20574 | 3195348 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonoco Products Co. | 48512 | $2113183 |
| &nbsp;&nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | 36738 | 4985347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terex Corp. | 32267 | 1506546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech, Inc. | 129609 | 4660740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Timken Co. | 31315 | 2271903 |
| &nbsp;&nbsp;&nbsp;&nbsp; TopBuild Corp.\* | 13977 | 4524914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toro Co. | 49098 | 3470247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trex Co., Inc.\* | 52742 | 2868110 |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 29706 | 2951588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Display Corp. | 21740 | 3357960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. | 9872 | 3223899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vontier Corp. | 72747 | 2684364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc. Cl A | 13488 | 3316564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Woodward, Inc. | 29267 | 7173049 |
| &nbsp;&nbsp;&nbsp;&nbsp; XPO, Inc.\* | 57946 | 7318000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;321042665 |
|  Technology (10.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.\* | 64301 | 2198451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amkor Technology, Inc | 55899 | 1173320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Appfolio, Inc. Cl A\* | 11336 | 2610454 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASGN, Inc.\* | 21544 | 1075692 |
| &nbsp;&nbsp;&nbsp;&nbsp; BILL Holdings, Inc.\* | 46622 | 2156734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackbaud, Inc.\* | 18536 | 1190197 |
| &nbsp;&nbsp;&nbsp;&nbsp; CACI International, Inc. Cl A\* | 10816 | 5155987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cirrus Logic, Inc.\* | 26140 | 2725226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commvault Systems, Inc.\* | 21704 | 3783658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Concentrix Corp | 22624 | 1195792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crane NXT Co. | 24266 | 1307937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Docusign, Inc.\* | 99605 | 7758234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Doximity, Inc. Cl A\* | 65665 | 4027891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dropbox, Inc. Cl A\* | 96512 | 2760243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duolingo, Inc.\* | 19311 | 7917896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dynatrace, Inc.\* | 147469 | 8141764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entegris, Inc. | 74469 | 6005925 |
| &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.\* | 80024 | 3504251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genpact Ltd. | 79134 | 3482687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guidewire Software, Inc.\* . | 41258 | 9714196 |
| &nbsp;&nbsp;&nbsp;&nbsp; IPG Photonics Corp.\* | 12971 | 890459 |
| &nbsp;&nbsp;&nbsp;&nbsp; KBR, Inc | 63813 | 3059195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc.\* | 114455 | 4802532 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.\* | 67636 | $3313488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.\* | 34136 | 3244968 |
| &nbsp;&nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc.\* | 29272 | 4194385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manhattan Associates, Inc.\* | 29864 | 5897244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximus, Inc. | 27716 | 1945663 |
| &nbsp;&nbsp;&nbsp;&nbsp; MKS, Inc. | 32991 | 3277986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc.\* | 82221 | 8219633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Onto Innovation, Inc.\* | 24040 | 2426357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Parsons Corp.\* | 23130 | 1660040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 43779 | 2369757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Integrations, Inc. | 27687 | 1547703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pure Storage, Inc. Cl A\* | 152866 | 8802024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Qualys, Inc.\* | 17868 | 2552801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rambus, Inc.\* | 52833 | 3382369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Science Applications International Corp. | 23200 | 2612552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.\* . | 16021 | 2360855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synaptics, Inc.\* | 18959 | 1228922 |
| &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc.\* | 127807 | 1293407 |
|  |  | 146968875 |
|  Utilities (2.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ALLETE, Inc | 28480 | 1824714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | 35665 | 2000807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essential Utilities, Inc | 126858 | 4711506 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDACORP, Inc. | 26571 | 3067622 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Fuel Gas Co. | 44441 | 3764597 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Jersey Resources Corp | 49370 | 2212763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 30191 | 1548798 |
| &nbsp;&nbsp;&nbsp;&nbsp; OGE Energy Corp. | 99028 | 4394863 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONE Gas, Inc | 29478 | 2118289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. . | 28346 | 2374261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Portland General Electric Co. | 53867 | 2188616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | 29712 | 2210276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spire, Inc. | 29029 | 2118827 |
| &nbsp;&nbsp;&nbsp;&nbsp; TXNM Energy, Inc. | 45576 | 2566840 |
| &nbsp;&nbsp;&nbsp;&nbsp; UGI Corp. | 105477 | 3841472 |
|  |  | 40944251 |
|  Total Common Stocks<br>(Cost: $1,161,075,431) |  | &nbsp;&nbsp;&nbsp;&nbsp;1429953197 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MID CAP EQUITY INDEX FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (0.5%):** |  |  |  |  |  |
|  U.S. Government (0.4%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill(1) | A-1+ | 4.34 | 08/07/25 | $6700000 | $6671029 |
|  Commercial Paper (0.1%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | 1200000 | 1200000 |
|  Total Short-Term Debt Securities<br>(Cost: $7,871,029) |  |  |  |  | 7871029 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(2)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $56728 | $56728 |
|  Total Temporary Cash Investment<br>(Cost: $56,728) |  |  | 56728 |
|  Total Investments<br>(Cost: $1,169,003,188) 99.3% |  |  | 1437880954 |
|  Other Net Assets 0.7% |  |  | 9783403 |
|  Net Assets 100.0% |  |  | $1447664357 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

(1) This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. Information on futures contracts outstanding in the Fund as of June 30, 2025, was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract Type** | **Number of**<br>**Contracts** | **Purchased (P)**<br>**or Sold (S)** | **Expiration**<br>**Date** | **Underlying**<br>**Face Amount**<br>**at Value** | **Unrealized**<br>**Gain (Loss) (a)** | **Face Value<br>of Futures<br>as a % of<br>Total**<br>**Investments** |
|  E-mini S&P 400 Stock Index | 56 | P | September 2025 | $17502800 | $156848 | 1.2% |

---

(a) Includes the cumulative appreciation (depreciation) of futures contracts, which is included in Total Distributable Earnings (Loss) in the Components of Net Assets section of the Statements of Assets and Liabilities. The Receivable or Payable for Daily Variation on Futures Contracts in the Statements of Assets and Liabilities only includes the current day's variation margin payable or receivable.

(2) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (60.6%):** |  |  |
|  Basic Materials (1.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 25389 | $1100613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newmont Corp | 22341 | 1301587 |
|  |  | 2402200 |
|  Communications (8.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl A | 21613 | 3808859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.\* | 8843 | 1940066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc.\* | 10954 | 1120704 |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 84466 | 2444446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 399 | 2309907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. Cl A | 40498 | 1445374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl A | 16911 | 947692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 19008 | 558835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Cl A | 1195 | 882018 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 5498 | 1309953 |
|  |  | 16767854 |
|  Consumer, Cyclical (4.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.\* | 276 | 1024575 |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 6560 | 845715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 3581 | 1312938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 6235 | 1710136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tapestry, Inc | 26284 | 2307998 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 7525 | 929262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc | 16884 | 1650918 |
|  |  | 9781542 |
|  Consumer, Non-cyclical (9.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc | 8972 | 1665383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 18166 | 840904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna Group | 3157 | 1043641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 13703 | 1245603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corpay, Inc.\* | 3862 | 1281489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 2751 | 543432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Co | 2124 | 1655722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 13533 | 1500404 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 3315 | 1269976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 11802 | 1802755 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 1461 | 1070592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 11418 | 2079560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 2330 | 880926 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. .4,576 |  | 1427575 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18307962 |
|  Energy (2.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 16504 | 632763 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 8773 | 787289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 15416 | 391258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 5294 | 619081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. | 5758 | 773991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 24151 | 1516924 |
|  |  | 4721306 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Financial (7.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 22137 | $1884302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 5706 | 586177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 4864 | 847941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 2220 | 1571205 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 11417 | 3309903 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 4585 | 889444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. Cl A | 2965 | 1666152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 14598 | 2056274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. Cl A | 7347 | 2608552 |
|  |  | 15419950 |
|  Industrial (6.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 1907 | 345091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. Cl A | 6282 | 620348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 2618 | 1016334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. | 2228 | 1132916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 1868 | 666857 |
| &nbsp;&nbsp;&nbsp;&nbsp; FedEx Corp. | 5315 | 1208153 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE Vernova, Inc | 2210 | 1169421 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. | 5336 | 1373433 |
| &nbsp;&nbsp;&nbsp;&nbsp; RTX Corp. | 8030 | 1172541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap-on, Inc | 2394 | 744965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies PLC | 4152 | 1816126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 3668 | 843933 |
|  |  | 12110118 |
|  Technology (19.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.\* | 3616 | 1398958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 37132 | 7618372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 18358 | 5060383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.\* | 16628 | 1757912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 1766 | 1390955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp | 16000 | 1557440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 18518 | 9211038 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 7779 | 828853 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 56956 | 8998478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc. . | 971 | 550402 |
|  |  | 38372791 |
|  Utilities (2.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc | 12552 | 871360 |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 11795 | 1894041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 8708 | 1687697 |
|  |  | 4453098 |
|  Total Common Stocks<br>(Cost: $64,477,204) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122336821 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (35.3%):** |  |  |  |  |  |
|  U.S. Government (6.0%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.38 | 11/15/40 | $750000 | 477656 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.75 | 08/15/41 | 1900000 | 1260828 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.88 | 02/15/41 | 1400000 | 962500 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 3.00 | 11/15/45 | 600000 | 457031 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 3.63 | 02/15/53 | 465000 | 379702 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.00 | 11/15/52 | 620000 | 542306 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.13 | 08/15/53 | 2095000 | 1871752 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.25 | 02/15/54 | 615000 | 561187 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.63 | 05/15/44 | 50000 | 49039 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 2.88 | 05/15/32 | 535000 | 499222 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 04/30/30 | 500000 | 502070 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 08/15/34 | 300000 | 293016 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.00 | 05/31/30 | 450000 | 454430 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.00 | 02/15/34 | 550000 | 544414 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.13 | 05/31/32 | 70000 | 70602 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.25 | 01/31/30 | 595000 | 606853 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.25 | 11/15/34 | 330000 | 331134 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.25 | 05/15/35 | 705000 | 706212 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/29 | 945000 | 807172 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 02/15/42 | 1625000 | 713982 |
|  |  |  |  |  | 12091108 |
|  U.S. Government Agencies (13.6%) |  |  |  |  |  |
|  Mortgage-Backed Obligations (11.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 1.50 | 10/01/36 | 333349 | 297426 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 09/01/27 | 18191 | 17868 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 06/01/35 | 122944 | 115574 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 04/01/50 | 136812 | 113550 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 06/01/50 | 145554 | 122025 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 11/01/50 | 593669 | 501256 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 10/01/51 | 240411 | 200277 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 06/01/27 | 13909 | 13731 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 08/01/27 | 2596 | 2575 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/42 | 99266 | 90611 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 04/01/43 | 69724 | 63385 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/49 | 344855 | 302487 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 10/01/51 | 335839 | 290678 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 06/01/52 | 569782 | 498072 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 02/01/32 | 68957 | 67768 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 01/01/43 | 87700 | 82249 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 06/01/45 | 118329 | 109915 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 07/01/45 | 140374 | 130582 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 11/01/33 | 39117 | 38802 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 01/01/38 | 59967 | 59060 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 03/01/41 | 25919 | 25199 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 07/01/41 | 42043 | 40879 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 11/01/42 | 17322 | 16771 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 01/01/43 | 90286 | 87417 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 10/01/44 | $33402 | $32084 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 06/01/45 | 114388 | 109100 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 04/01/52 | 375926 | 352275 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 08/01/52 | 244069 | 229292 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.23 | 05/01/30 | 475000 | 471673 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 02/01/44 | 35925 | 35461 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 05/01/48 | 47972 | 46747 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 02/01/26 | 172 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 08/01/35 | 34733 | 35349 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 07/01/39 | 6391 | 6493 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 01/01/52 | 224539 | 223655 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 06/01/52 | 780979 | 770125 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 12/01/52 | 463678 | 458368 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 06/01/54 | 191546 | 188453 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 07/01/32 | 8470 | 8672 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 05/01/33 | 5747 | 5925 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 06/01/37 | 35065 | 36305 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 06/01/53 | 90619 | 91281 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 07/01/53 | 656045 | 661467 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 09/01/53 | 167825 | 172310 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 02/01/54 | 263143 | 268407 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 01/01/55 | 735868 | 748434 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC ARM SOFR30A + 2.29%(2) | AA+ | 1.93 | 10/01/51 | 555986 | 496834 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC Strip | AA+ | 3.00 | 06/01/42 | 141399 | 129251 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC Strip | AA+ | 3.00 | 01/01/43 | 45183 | 40940 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 11/01/35 | 329453 | 303013 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 07/01/36 | 597807 | 550062 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 09/01/50 | 607091 | 485060 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 10/01/50 | 172453 | 139345 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 02/01/51 | 402551 | 318712 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 03/01/51 | 232990 | 184478 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.34 | 05/01/36 | 546868 | 446300 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 02/01/33 | 94441 | 90039 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 06/01/35 | 288593 | 271293 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 04/01/42 | 1005258 | 890461 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 03/01/51 | 776679 | 658483 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 04/01/51 | 141965 | 118638 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/51 | 650014 | 549267 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/52 | 819022 | 683875 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 06/01/33 | 96048 | 92377 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/33 | 55276 | 53135 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 01/01/43 | 193578 | 176451 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 02/01/43 | 47547 | 43340 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/43 | 97460 | 88493 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/43 | 99624 | 90440 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 12/01/47 | 27013 | 23925 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/48 | 50966 | 44998 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 01/01/52 | 495772 | 431581 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 04/01/52 | $492600 | $426358 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.10 | 06/01/29 | 175000 | 167459 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/38 | 69788 | 65437 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/41 | 40556 | 37751 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 11/01/41 | 69776 | 65351 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 12/01/41 | 53772 | 50053 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/42 | 74194 | 69039 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/42 | 78746 | 73755 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/43 | 308518 | 288260 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/44 | 24703 | 23024 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/45 | 141775 | 131532 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 05/01/45 | 3751 | 3477 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 09/01/47 | 46798 | 43174 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 06/01/51 | 506644 | 457839 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 05/01/52 | 554080 | 502973 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.75 | 08/01/28 | 200000 | 197106 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 01/01/31 | 24693 | 24560 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 07/01/40 | 54873 | 53290 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 11/01/40 | 29938 | 29070 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 05/01/41 | 25756 | 24889 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 11/01/45 | 54594 | 52004 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 02/01/47 | 54997 | 52298 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 04/01/49 | 205691 | 194303 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 03/01/50 | 195023 | 183223 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 07/01/52 | 148878 | 140395 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 07/01/56 | 291384 | 271340 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/30 | 6565 | 6584 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 06/01/34 | 10853 | 10912 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 08/01/35 | 8448 | 8481 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/39 | 38154 | 38047 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/40 | 33742 | 33546 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 10/01/40 | 115281 | 114899 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 10/01/41 | 8681 | 8617 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 11/01/47 | 59125 | 57578 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/50 | 301811 | 292952 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 06/01/33 | 12150 | 12349 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 10/01/33 | 13297 | 13515 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 11/01/33 | 42479 | 43177 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 03/01/34 | 4988 | 5070 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 04/01/34 | 8580 | 8717 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 09/01/35 | 4745 | 4819 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 08/01/37 | 42860 | 43527 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 05/01/39 | 19701 | 19990 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 07/01/27 | 32062 | 32238 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 06/01/48 | 3937 | 4062 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 03/01/53 | 319333 | 320522 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/32 | 2684 | 2776 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 04/01/33 | 14373 | 14915 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/33 | $6193 | $6427 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 06/01/34 | 3213 | 3345 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/34 | 862 | 897 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 10/01/34 | 8353 | 8694 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 01/01/37 | 4594 | 4812 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/37 | 1358 | 1425 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 11/01/52 | 542016 | 556664 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/53 | 42361 | 43574 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/54 | 242484 | 246950 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 05/01/32 | 13753 | 14452 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 07/01/34 | 2579 | 2735 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 05/01/37 | 14886 | 15941 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.00 | 04/01/32 | 475 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 06/01/31 | 884 | 931 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 02/01/32 | 1232 | 1312 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 06/01/32 | 863 | 929 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 8.00 | 04/01/32 | 923 | 965 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA SOFR30A + 2.30%(2) | AA+ | 4.46 | 02/01/53 | 241595 | 238362 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA SOFR30A + 2.37%(2) | AA+ | 1.80 | 09/01/51 | 724564 | 646847 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA Strip | AA+ | 3.00 | 08/01/42 | 40483 | 36781 |
| &nbsp;&nbsp;&nbsp;&nbsp; FRESB Multifamily Mortgage(3) | AA+ | 2.37 | 10/01/26 | 41443 | 40453 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 10/01/51 | 170485 | 143955 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 08/01/52 | 168502 | 143259 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 03/01/53 | 868778 | 739167 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 06/01/53 | 392979 | 334290 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.00 | 10/01/51 | 212951 | 186691 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 01/01/42 | 97713 | 93882 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 08/01/42 | 32575 | 31397 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 04/01/31 | 16146 | 16244 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 10/01/40 | 43976 | 43664 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 10/01/43 | 70187 | 69131 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 5.00 | 06/01/39 | 34638 | 35209 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 04/01/31 | 1035 | 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 10/01/31 | 506 | 528 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 12/01/31 | 172 | 172 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 05/01/32 | 1519 | 1553 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 7.00 | 05/01/31 | 518 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 7.00 | 05/01/32 | 87 | 87 |
|  |  |  |  |  | 24080088 |
|  Non-Mortgage-Backed Obligations (1.7%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FFCB | AA+ | 5.37 | 01/28/32 | 950000 | 949742 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.13 | 02/26/30 | 450000 | 449793 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.25 | 06/09/32 | 900000 | 898861 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.30 | 02/27/32 | 1165000 | 1164031 |
|  |  |  |  |  | 3462427 |
|  Corporate Debt (15.7%) |  |  |  |  |  |
|  Basic Materials (0.3%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings LLC | BB+ | 6.42 | 07/15/27 | 280000 | 289957 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Basic Materials (Continued) | Basic Materials (Continued) | Basic Materials (Continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc.† | BBB- | 1.83 | 10/15/27 | $290000 | $273134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | BBB | 5.00 | 12/15/26 | 125000 | 125138 |
|  |  |  |  |  | 688229 |
|  Communications (1.0%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | BBB | 2.75 | 06/01/31 | 400000 | 362480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc | BBB | 5.40 | 02/15/35 | 170000 | 171159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | BBB | 5.55 | 08/15/35 | 160000 | 163162 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 2.70 | 03/15/32 | 250000 | 220211 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 3.38 | 04/15/29 | 165000 | 158892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | BBB | 4.50 | 08/15/29 | 280000 | 278559 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc. | BBB | 2.70 | 06/15/31 | 325000 | 290792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | BBB+ | 4.02 | 12/03/29 | 360000 | 355154 |
|  |  |  |  |  | 2000409 |
|  Consumer, Cyclical (0.7%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. | BBB | 3.75 | 04/18/29 | 65000 | 63559 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. | BBB | 6.25 | 11/01/28 | 175000 | 185523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | BBB | 3.85 | 05/01/27 | 110000 | 109097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | BBB- | 2.70 | 08/10/26 | 200000 | 194741 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | BBB | 5.75 | 02/08/31 | 340000 | 349328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. | BBB | 5.00 | 06/15/27 | 110000 | 110776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | BBB+ | 4.50 | 04/15/30 | 165000 | 166216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers Finance Corp. | BBB | 4.88 | 03/15/27 | 200000 | 200583 |
|  |  |  |  |  | 1379823 |
|  Consumer, Non-cyclical (1.3%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | A- | 5.05 | 03/15/34 | 455000 | 463315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | BBB+ | 5.15 | 03/02/28 | 235000 | 240078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | BBB+ | 5.25 | 03/02/33 | 100000 | 102418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | BBB+ | 2.75 | 05/14/31 | 235000 | 212653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | A- | 4.20 | 09/17/29 | 150000 | 148350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc | BBB | 4.80 | 01/15/29 | 230000 | 232478 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | BBB | 3.75 | 04/01/30 | 389000 | 373119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 2.88 | 09/15/29 | 255000 | 240190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 4.75 | 02/15/30 | 65000 | 65766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | BBB | 4.80 | 09/15/29 | 280000 | 282402 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | BBB | 6.20 | 11/15/33 | 245000 | 263035 |
|  |  |  |  |  | 2623804 |
|  Energy (1.5%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP | BBB | 4.50 | 10/01/29 | 220000 | 217612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | BBB | 5.15 | 01/30/30 | 360000 | 367975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.25 | 07/01/29 | 105000 | 107615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.55 | 02/15/28 | 241000 | 247978 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. | BBB- | 3.90 | 10/01/27 | 203000 | 200267 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.† | BBB- | 7.50 | 06/01/27 | 160000 | 163123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | BBB- | 4.30 | 04/01/27 | 80000 | 79835 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 4.50 | 10/01/30 | 90000 | 87302 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 5.75 | 01/15/31 | 60000 | 61451 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 6.38 | 04/15/27 | 202000 | 203923 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |
|  Corporate Debt (Continued) | Corporate Debt (Continued) | Corporate Debt (Continued) |  |  |  |
|  Energy (Continued) | Energy (Continued) | Energy (Continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | BBB | 5.10 | 08/01/29 | $350000 | $357721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | BB+ | 6.38 | 09/01/28 | 170000 | 176816 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | BBB | 4.40 | 10/15/29 | 70000 | 69465 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc.† | BBB | 5.63 | 01/15/28 | 180000 | 183936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa Resources Partners Finance Corp. | BBB | 5.50 | 03/01/30 | 150000 | 152166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa Resources Partners Finance Corp. | BBB | 6.88 | 01/15/29 | 75000 | 76526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP | BBB- | 4.75 | 08/15/28 | 295000 | 295127 |
|  |  |  |  |  | 3048838 |
|  Financial (7.6%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc | BBB+ | 4.75 | 04/15/35 | 360000 | 344680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alleghany Corp. | AA | 3.63 | 05/15/30 | 160000 | 155361 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(3)(5) | A- | 5.39 | 07/28/27 | 210000 | 212047 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(3)(5) | A- | 5.53 | 04/25/30 | 350000 | 363842 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 2.90 | 01/15/30 | 140000 | 130445 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 5.80 | 11/15/28 | 180000 | 187809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon North America, Inc. | A- | 5.45 | 03/01/34 | 350000 | 359523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | BBB | 5.00 | 02/15/32 | 305000 | 309086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.(3)(5) | A- | 2.97 | 02/04/33 | 985000 | 881878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.(3)(5) | A | 5.06 | 07/22/32 | 225000 | 230007 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB | 4.88 | 11/17/25 | 160000 | 159892 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB- | 5.13 | 06/11/30 | 200000 | 197829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 3.25 | 01/30/31 | 300000 | 274898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 5.75 | 01/15/35 | 35000 | 35210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 6.50 | 01/15/34 | 50000 | 53548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | BBB- | 5.25 | 06/23/32 | 100000 | 101939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.(3)(5) | BBB | 4.93 | 05/10/28 | 165000 | 166268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | BBB | 6.70 | 11/29/32 | 200000 | 218206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB+ | 3.79 | 03/17/33 | 195000 | 181943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB+ | 3.98 | 03/20/30 | 220000 | 215546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB | 5.83 | 02/13/35 | 300000 | 305817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc.(3)(5) | BBB+ | 5.84 | 01/23/30 | 340000 | 352017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust LP | BBB | 5.55 | 01/15/28 | 215000 | 220603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | BBB | 3.20 | 11/18/29 | 375000 | 355799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fairfax Financial Holdings Ltd | A- | 6.00 | 12/07/33 | 160000 | 166984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(3)(5) | BBB+ | 4.90 | 09/06/30 | 125000 | 126398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(3)(5) | BBB+ | 6.34 | 07/27/29 | 155000 | 163215 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Bank | BBB | 5.75 | 05/01/30 | 250000 | 255808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | BBB+ | 2.60 | 02/07/30 | 450000 | 415989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.(3)(5) | BBB+ | 5.33 | 07/23/35 | 235000 | 237791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts LP | BBB- | 5.70 | 07/01/34 | 275000 | 276493 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.00 | 07/22/30 | 200000 | 203625 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.35 | 06/01/34 | 200000 | 205976 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.50 | 01/24/36 | 300000 | 309124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kemper Corp | BBB- | 3.80 | 02/23/32 | 165000 | 150426 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | BBB | 2.25 | 04/06/27 | 398000 | 383850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kilroy Realty LP | BBB- | 3.05 | 02/15/30 | 120000 | 108582 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |
|  Corporate Debt (Continued) | Corporate Debt (Continued) | Corporate Debt (Continued) |  |  |  |
|  Financial (Continued) | Financial (Continued) | Financial (Continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | BBB+ | 4.85 | 03/01/35 | $135000 | $132146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | BBB+ | 6.40 | 03/01/34 | 200000 | 217596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.† | BBB | 4.57 | 02/01/29 | 365000 | 365402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co. | A- | 4.70 | 01/27/28 | 250000 | 252213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury General Corp. | BBB- | 4.40 | 03/15/27 | 125000 | 123912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 2.70 | 01/22/31 | 450000 | 414747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 5.17 | 01/16/30 | 40000 | 40843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 5.45 | 07/20/29 | 210000 | 215943 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | BBB+ | 2.50 | 04/15/30 | 145000 | 132211 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | BBB+ | 3.60 | 12/15/26 | 110000 | 108732 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Bank N.A. | A- | 2.70 | 10/22/29 | 250000 | 232740 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(3)(5) | A- | 5.58 | 06/12/29 | 180000 | 186446 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(3)(5) | A- | 6.88 | 10/20/34 | 120000 | 134099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis LP | A | 1.75 | 07/01/30 | 140000 | 123004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | A- | 4.85 | 03/15/30 | 65000 | 66160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | A- | 5.13 | 02/15/34 | 325000 | 328768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | BBB- | 3.70 | 08/04/26 | 400000 | 396114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 2.75 | 09/01/31 | 200000 | 175453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.13 | 09/01/26 | 175000 | 171770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.88 | 07/15/27 | 110000 | 108489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.(3)(5) | A- | 4.87 | 01/26/29 | 300000 | 303402 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(3)(5) | A | 4.65 | 02/01/29 | 465000 | 468049 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(3)(5) | A | 5.78 | 06/12/29 | 60000 | 62272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc. | BBB+ | 5.00 | 09/20/34 | 250000 | 244338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 3.35 | 03/02/33 | 315000 | 287790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 5.20 | 01/23/30 | 220000 | 225260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 5.56 | 07/25/34 | 200000 | 206537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower OP LLC | A- | 2.75 | 01/15/31 | 340000 | 310746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp N.A. | BBB | 3.25 | 10/29/29 | 250000 | 230287 |
|  |  |  |  |  | 15283923 |
|  Industrial (1.3%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp | BBB+ | 2.80 | 02/15/30 | 305000 | 286150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. | BBB- | 5.15 | 08/21/29 | 250000 | 254095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boeing Co. | BBB- | 3.20 | 03/01/29 | 375000 | 357027 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc | BBB | 4.20 | 04/15/28 | 180000 | 179016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | BBB- | 3.48 | 12/01/27 | 155000 | 151758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. | BBB- | 3.00 | 01/15/31 | 140000 | 127681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. | BBB- | 3.95 | 01/12/28 | 75000 | 74217 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | BBB | 4.85 | 04/27/35 | 200000 | 195713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. | BBB | 1.70 | 08/01/27 | 155000 | 146357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | BBB | 5.13 | 11/19/31 | 245000 | 252303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. | BBB | 2.75 | 04/01/31 | 215000 | 195101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co. | BBB+ | 4.95 | 12/01/29 | 350000 | 356677 |
|  |  |  |  |  | 2576095 |
|  Technology (0.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc | BBB+ | 5.05 | 07/12/29 | 355000 | 363537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.55 | 10/15/29 | 240000 | 238821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.85 | 10/15/31 | 115000 | 114518 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** | **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |
|  Corporate Debt (Continued) | Corporate Debt (Continued) | Corporate Debt (Continued) |  |  |  |  |
|  Technology (Continued) | Technology (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp | BBB | 5.20 | 02/10/33 | $| 225000 | $226898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | BBB | 4.90 | 03/15/28 |  | 150000 | 151755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | BBB+ | 5.10 | 04/15/30 |  | 295000 | 302077 |
| &nbsp;&nbsp;&nbsp;&nbsp; VMware LLC | BBB+ | 1.40 | 08/15/26 |  | 240000 | 232212 |
|  |  |  |  |  |  | 1629818 |
|  Utilities (1.2%) | Utilities (1.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | BBB | 5.20 | 01/15/29 |  | 345000 | 353895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | BBB+ | 3.05 | 10/15/29 |  | 140000 | 131077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | A | 2.30 | 12/01/31 |  | 355000 | 310953 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co | BBB | 5.10 | 03/01/29 |  | 325000 | 331540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC | A | 4.85 | 01/15/34 |  | 330000 | 329496 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. | BBB+ | 3.55 | 05/01/27 |  | 275000 | 271441 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | BBB+ | 5.20 | 07/01/29 |  | 350000 | 359325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co. | BBB+ | 5.70 | 03/15/34 |  | 280000 | 292697 |
|  |  |  |  |  |  | 2380424 |
|  Total Corporate Debt | Total Corporate Debt | Total Corporate Debt | Total Corporate Debt | Total Corporate Debt | Total Corporate Debt | 31611363 |
|  Total Long-Term Debt Securities<br>(Cost: $73,788,654) | Total Long-Term Debt Securities<br>(Cost: $73,788,654) | Total Long-Term Debt Securities<br>(Cost: $73,788,654) | Total Long-Term Debt Securities<br>(Cost: $73,788,654) | Total Long-Term Debt Securities<br>(Cost: $73,788,654) | Total Long-Term Debt Securities<br>(Cost: $73,788,654) | 71244986 |
|  **SHORT-TERM DEBT SECURITIES (3.3%):** |  |  |  |  |  |  |
|  U.S. Government (1.8%) | U.S. Government (1.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.10 | 07/03/25 |  | 1250000 | 1249715 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.18 | 07/08/25 |  | 2500000 | 2497977 |
|  |  |  |  |  |  | 3747692 |
|  Commercial Paper (1.5%) | Commercial Paper (1.5%) | Commercial Paper (1.5%) | Commercial Paper (1.5%) | Commercial Paper (1.5%) | Commercial Paper (1.5%) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 |  | 3000000 | 3000000 |
|  Total Short-Term Debt Securities<br>(Cost: $6,747,692) | Total Short-Term Debt Securities<br>(Cost: $6,747,692) | Total Short-Term Debt Securities<br>(Cost: $6,747,692) | Total Short-Term Debt Securities<br>(Cost: $6,747,692) | Total Short-Term Debt Securities<br>(Cost: $6,747,692) | Total Short-Term Debt Securities<br>(Cost: $6,747,692) | 6747692 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.3%)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $| 599201 | $599201 |
|  Total Temporary Cash Investment<br>(Cost: $599,201) | Total Temporary Cash Investment<br>(Cost: $599,201) | Total Temporary Cash Investment<br>(Cost: $599,201) | Total Temporary Cash Investment<br>(Cost: $599,201) | 599201 |
|  Total Investments<br>(Cost: $145,612,751) 99.5% | Total Investments<br>(Cost: $145,612,751) 99.5% | Total Investments<br>(Cost: $145,612,751) 99.5% | Total Investments<br>(Cost: $145,612,751) 99.5% | 200928700 |
|  Other Net Assets 0.5% | Other Net Assets 0.5% | Other Net Assets 0.5% | Other Net Assets 0.5% | 933497 |
|  Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $201862197 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
Abbreviations:

ARM = Adjustable Rate Mortgage

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — BALANCED FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | |
|:---|:---|
| FFCB = | Federal Farm Credit Bank Funding Corporation |
| FHLB = | Federal Home Loan Bank |
| FHLMC = | Federal Home Loan Mortgage Corporation |
| FNMA = | Federal National Mortgage Association |
| FRESB = | Federal Home Loan Mortgage Corporation Multifamily Securitization Small Loan Balance |
| GNMA = | Government National Mortgage Association |
| SOFR = | Secured overnight financing rate |
| SOFR30A = | 30-day Average SOFR (Secured overnight financing rate) |

---

\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

† Security is 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 June 30, 2025, the aggregate values of these securities amounts to $1,264,154 and represents 0.6% of net assets.

(1) Zero Coupon.

(2) Floating Rate Note.

(3) Variable Rate; rate shown is effective rate at period-end. The rates for certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and based on current market conditions.

(4) U.S. Government guaranteed security

(5) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERNATIONAL FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (97.2%):** |  |  |
|  Australia (5.2%): |  |  |
|  Basic Materials (2.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd | 514899 | $12387233 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlueScope Steel Ltd. | 503571 | 7673685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortescue Ltd | 538528 | 5413409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto PLC | 264197 | 15377352 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40851679 |
|  Consumer, Cyclical (1.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd . | 205027 | 8784340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wesfarmers, Ltd | 207840 | 11599002 |
|  |  | 20383342 |
|  Consumer, Non-cyclical (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brambles Ltd. | 557661 | 8612403 |
|  Financial (1.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ANZ Group Holdings Ltd. | 581599 | 11153200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | 96445 | 11738155 |
|  |  | 22891355 |
|  Technology (0.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pro Medicus Ltd | 61004 | 11415964 |
|  Total Australia |  | 104154743 |
|  Austria (0.3%): |  |  |
|  Energy (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OMV AG | 109951 | 5979261 |
|  China (1.3%): |  |  |
|  Communications (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Prosus NV | 464721 | 26073871 |
|  Denmark (1.0%): |  |  |
|  Consumer, Cyclical (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pandora A/S | 86930 | 15316665 |
|  Industrial (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ROCKWOOL A/S Cl B . | 119260 | 5589989 |
|  Total Denmark |  | 20906654 |
|  Finland (1.2%): |  |  |
|  Communications (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nokia Oyj | 1980379 | 10275450 |
|  Financial (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp | 870850 | 12937368 |
|  Total Finland |  | 23212818 |
|  France (9.1%): |  |  |
|  Communications (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Orange S.A. | 631293 | 9613449 |

---

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  France (Continued) |  |  |
|  Consumer, Cyclical (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hermes International SCA | 9919 | $26889078 |
|  Consumer, Non-cyclical (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Danone S.A. | 160021 | 13093452 |
| &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica S.A | 44672 | 12266599 |
|  |  | 25360051 |
|  Energy (0.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE | 282427 | 17262690 |
|  Financial (2.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AXA S.A. | 320437 | 15735072 |
| &nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas S.A. | 159954 | 14348147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Klepierre S.A. | 243157 | 9614259 |
|  |  | 39697478 |
|  Industrial (2.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie de Saint-Gobain S.A. | 154537 | 18154272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Aviation S.A. . | 16539 | 5847729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eiffage S.A. | 87414 | 12282828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safran S.A. | 38148 | 12440986 |
|  |  | 48725815 |
|  Utilities (0.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Engie S.A. | 693759 | 16305281 |
|  Total France |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183853842 |
|  Germany (10.6%): |  |  |
|  Communications (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom AG . | 493709 | 18071527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Scout24 SE† | 61733 | 8522169 |
|  |  | 26593696 |
|  Consumer, Cyclical (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | 134958 | 7862675 |
|  Financial (3.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allianz SE | 55044 | 22338702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG | 804991 | 23864306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen | 25781 | 16740492 |
|  |  | 62943500 |
|  Industrial (3.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GEA Group AG | 144534 | 10131847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heidelberg Materials AG | 86372 | 20340330 |
| &nbsp;&nbsp;&nbsp;&nbsp; MTU Aero Engines AG . | 23946 | 10638094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens AG | 122791 | 31539875 |
|  |  | 72650146 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERNATIONAL FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Germany (Continued) |  |  |
|  Technology (2.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SAP SE | 143095 | $43755512 |
|  Total Germany |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213805529 |
|  Hong Kong (0.5%): |  |  |
|  Consumer, Non-cyclical (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; WH Group Ltd.† | 10824571 | 10432636 |
|  Ireland (0.5%): |  |  |
|  Financial (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings N.V . | 78715 | 9209655 |
|  Israel (1.0%): |  |  |
|  Communications (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Wix.com Ltd.\* | 37796 | 5989154 |
|  Technology (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd.\* | 65648 | 14524620 |
|  Total Israel |  | 20513774 |
|  Italy (4.9%): |  |  |
|  Consumer, Cyclical (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrari N.V. | 23175 | 11353685 |
|  Financial (3.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco BPM SpA | 780769 | 9113545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Generali | 278214 | 9896495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | 2706174 | 15588672 |
| &nbsp;&nbsp;&nbsp;&nbsp; UniCredit SpA | 386946 | 25957647 |
|  |  | 60556359 |
|  Industrial (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Poste Italiane SpA† | 634404 | 13630717 |
|  Utilities (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Enel SpA | 1438072 | 13648318 |
|  Total Italy |  | 99189079 |
|  Japan (18.3%): |  |  |
|  Basic Materials (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nitto Denko Corp. | 570045 | 11008409 |
|  Consumer, Cyclical (6.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asics Corp. | 378600 | 9654445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Daiwa House Industry Co. Ltd. | 469166 | 16121862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fast Retailing Co. Ltd. . | 30736 | 10538272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Honda Motor Co. Ltd. | 940692 | 9070956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marubeni Corp. | 461800 | 9309078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Corp. | 635472 | 12697927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | 522676 | 10652125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nintendo Co. Ltd. | 155082 | 14892500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp | 642800 | 16713010 |

---

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Japan (Continued) |  |  |
|  Consumer, Cyclical (Continued) | Consumer, Cyclical (Continued) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | 649413 | $13925629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | 324231 | 10784605 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134360409 |
|  Consumer, Non-cyclical (2.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. | 421393 | 12413996 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyowa Kirin Co. Ltd. | 290857 | 4978681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Recruit Holdings Co. Ltd. | 250349 | 14722183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shionogi & Co. Ltd | 829373 | 14930606 |
|  |  | 47045466 |
|  Energy (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Inpex Corp. | 469446 | 6589692 |
|  Financial (1.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Daito Trust Construction Co. Ltd. | 69808 | 7603380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. | 1524201 | 10824918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan Post Insurance Co. Ltd. | 452973 | 10255424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | 684200 | 9328104 |
|  |  | 38011826 |
|  Industrial (4.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hitachi Ltd. | 1001947 | 29120942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hoya Corp. | 101388 | 12041053 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keyence Corp. | 29570 | 11822923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Komatsu Ltd | 297900 | 9828775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Yusen KK | 200138 | 7199957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yokogawa Electric Corp. | 404392 | 10802872 |
|  |  | 80816522 |
|  Technology (2.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advantest Corp. | 192500 | 14270226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canon, Inc. | 250913 | 7277413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Disco Corp. | 21227 | 6288360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Konami Group Corp | 69597 | 11003407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. | 34100 | 6530473 |
|  |  | 45369879 |
|  Utilities (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Osaka Gas Co. Ltd. | 247658 | 6352410 |
|  Total Japan |  | 369554613 |
|  Netherlands (3.5%): |  |  |
|  Communications (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN N.V | 2305796 | 11248111 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERNATIONAL FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Netherlands (Continued) |  |  |
|  Consumer, Non-cyclical (0.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize N.V. | 410788 | $17157157 |
|  Financial (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ING Groep N.V | 621428 | 13620266 |
|  Technology (1.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ASM International N.V. . | 13776 | 8836996 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding N.V. | 25854 | 20717762 |
|  |  | 29554758 |
|  Total Netherlands |  | 71580292 |
|  New Zealand (0.5%): |  |  |
|  Technology (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Xero Ltd.\* | 80213 | 9491545 |
|  Norway (1.6%): |  |  |
|  Consumer, Non-cyclical (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Orkla ASA | 557591 | 6072998 |
|  Energy (0.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinor ASA | 470743 | 11888170 |
|  Industrial (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | 364295 | 14126307 |
|  Total Norway |  | 32087475 |
|  Singapore (0.8%): |  |  |
|  Financial (0.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | 455063 | 16064671 |
|  Spain (5.2%): |  |  |
|  Consumer, Cyclical (0.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil S.A | 257369 | 13426105 |
|  Financial (3.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A. | 1622455 | 24982998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander S.A. . | 3575187 | 29605686 |
| &nbsp;&nbsp;&nbsp;&nbsp; CaixaBank S.A | 1173611 | 10169117 |
|  |  | 64757801 |
|  Industrial (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aena SME S.A.† | 319510 | 8528930 |
|  Utilities (0.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Iberdrola S.A. | 967125 | 18605581 |
|  Total Spain |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105318417 |

---

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Sweden (2.6%): |  |  |
|  Communications (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson Cl B | 1056295 | $9026382 |
|  Financial (0.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB Cl A | 839936 | 11244465 |
|  Industrial (1.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alfa Laval AB | 133612 | 5627554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assa Abloy AB Cl B | 315870 | 9875248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco AB Cl A | 980631 | 15852890 |
|  |  | 31355692 |
|  Total Sweden |  | 51626539 |
|  Switzerland (3.5%): |  |  |
|  Basic Materials (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Givaudan S.A | 2069 | 10033672 |
|  Consumer, Non-cyclical (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonova Holding AG | 31701 | 9454046 |
|  Financial (1.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Partners Group Holding AG | 5375 | 7032254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 21445 | 15005564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22037818 |
|  Industrial (1.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ABB Ltd. | 292314 | 17518039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schindler Holding AG | 33441 | 12452432 |
|  |  | 29970471 |
|  Total Switzerland |  | 71496007 |
|  Taiwan (0.4%): |  |  |
|  Technology (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | 38216 | 8655542 |
|  United Kingdom (11.3%): |  |  |
|  Communications (0.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC | 7375961 | 7895608 |
|  Consumer, Cyclical (0.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | 80142 | 9163051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Next PLC | 56066 | 9575735 |
|  |  | 18738786 |
|  Consumer, Non-cyclical (5.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | 78332 | 10901399 |
| &nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | 336038 | 15977387 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERNATIONAL FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  United Kingdom (Continued) |  |  |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Imperial Brands PLC | 441452 | $17441842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marks & Spencer Group PLC | 1187880 | 5781441 |
| &nbsp;&nbsp;&nbsp;&nbsp; RELX PLC | 470738 | 25512907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesco PLC | 2590834 | 14284624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC | 357441 | 21813287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111712887 |
|  Financial (3.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3i Group PLC | 276840 | 15666988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC | 5724488 | 26451547 |
| &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC | 2352955 | 28461794 |
|  |  | 70580329 |
|  Industrial (1.0%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC | 1513476 | 20057564 |
|  Total United Kingdom |  | 228985174 |
|  United States (13.9%): |  |  |
|  Consumer, Non-cyclical (6.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcon AG | 49522 | 4391758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co. Ltd. | 192107 | 10031410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Experian PLC | 253134 | 13053173 |

---

---

| | | |
|:---|:---|:---|
|  | **Share** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  United States (Continued) |  |  |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GSK PLC | 693202 | $13216915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novartis AG | 356091 | 43221296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG | 116696 | 38091895 |
|  |  | 122006447 |
|  Energy (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC | 761314 | 26561906 |
|  Financial (5.2%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares Core MSCI Emerging Markets ETF | 499634 | 29993029 |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets ex China ETF | 325778 | 20569623 |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI India ETF | 441366 | 24575259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard FTSE Emerging Markets ETF | 598543 | 29603937 |
|  |  | 104741848 |
|  Industrial (1.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amrize Ltd.\* | 94348 | 4706401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Holcim AG | 94348 | 7006201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | 56754 | 15237592 |
|  |  | 26950194 |
|  Total United States |  | 280260395 |
|  Total Common Stocks<br>(Cost: $1,509,272,390) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962452532 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (1.3%):** |  |  |  |  |  |
|  United States (1.3%) |  |  |  |  |  |
|  Commercial Paper (0.1%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | $1900000 | $1900000 |
|  U.S. Government (1.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.09 | 07/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500000 | 10475049 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.11 | 07/17/25 | 7000000 | 6987249 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.21 | 07/24/25 | 3500000 | 3490631 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill(1) | A-1+ | 4.34 | 08/07/25 | 3800000 | 3783562 |
|  |  |  |  |  | 24736491 |
|  Total Short-Term Debt Securities<br>(Cost: $26,636,491) |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26636491 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERNATIONAL FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(2)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | USD | 898774 | $898774 |
|  |  |  |  | 898774 |
|  Total Temporary Cash Investment<br>(Cost: $898,774) |  |  |  | 898774 |
|  Total Investments<br>(Cost: $1,536,807,655) 98.5% |  |  |  | 1989987797 |
|  Other Net Assets 1.5% |  |  |  | 30639117 |
|  Net Assets 100.0% |  |  |  | $2020626914 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

† Security is 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 June 30, 2025, the aggregate values of these securities amounts to $41,114,452 and represents 2.0% of net assets.

(1) This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. Information on futures contracts outstanding in the Fund as of June 30, 2025, was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract Type** | **Number of<br>Contracts** | **Purchased (P)**<br>**or Sold (S)** | **Expiration**<br>**Date** | **Underlying**<br>**Face Amount**<br>**at Value** | **Unrealized<br>Gain(Loss)(a)** | **Face Value<br>of Futures<br>as a %**<br>**of Total**<br>**Investments** |
|  MSCI EAFE Index | 136 | P | September 2025 | $18235560 | $330208 | 0.9% |

---

(a) Includes the cumulative appreciation(depreciation) of futures contracts, which is included in Total Distributable Earnings (Loss) in the Components of Net Assets section of the Statements of Assets and Liabilities. The Receivable or Payable for Daily Variation on Futures Contracts in the Statements of Assets and Liabilities only includes the current day's variation margin payable or receivable.

(2) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (100.0%):** |  |  |
|  Basic Materials (1.4%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc. | 34 | $9590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albemarle Corp. | 18 | 1128 |
| &nbsp;&nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 25 | 2300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. | 109 | 2886 |
| &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. . | 64 | 4390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecolab, Inc. | 39 | 10508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc . | 221 | 9580 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 39 | 2869 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Paper Co | 82 | 3840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 73 | 34250 |
| &nbsp;&nbsp;&nbsp;&nbsp; LyondellBasell Industries NV Cl A | 40 | 2314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mosaic Co. | 49 | 1788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newmont Corp | 172 | 10021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nucor Corp | 36 | 4663 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 35 | 3981 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 35 | 12018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 22 | 2816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118942 |
|  Communications (15.5%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc. Cl A\* | 67 | 8867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl A | 886 | 156140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. Cl C | 716 | 127011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.\* | 1448 | 317677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc.\* | 160 | 16370 |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 1095 | 31689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 5 | 28946 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW Corp. | 20 | 3572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications, Inc. Cl A\* | 14 | 5723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 617 | 42807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. Cl A | 568 | 20272 |
| &nbsp;&nbsp;&nbsp;&nbsp; DoorDash, Inc. Cl A\* | 52 | 12819 |
| &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. | 71 | 5287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 19 | 3205 |
| &nbsp;&nbsp;&nbsp;&nbsp; F5, Inc.\* | 8 | 2355 |
| &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 6 | 2684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl A | 33 | 1849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. Cl B | 20 | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 84 | 2470 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoDaddy, Inc. Cl A\* | 22 | 3961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. | 57 | 1395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Juniper Networks, Inc. | 51 | 2036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc. | 38 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Cl A . | 331 | 244308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 25 | 10511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\* | 64 | 85704 |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl A | 57 | 1694 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Communications (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; News Corp. Cl B | 16 | $549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | 29 | 2086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.\* . | 102 | 20873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global Cl B | 91 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 72 | 17155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.\* | 410 | 38253 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc | 13 | 3754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 642 | 27779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Co. | 274 | 33979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery, Inc.\* | 342 | 3919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1291080 |
|  Consumer, Cyclical (8.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aptiv PLC\* | 34 | 2319 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.\* | 3 | 11137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 30 | 2014 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarMax, Inc.\* | 24 | 1613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* | 161 | 4527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.\* | 207 | 11623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Copart, Inc.\* | 172 | 8440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 94 | 93054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins, Inc | 27 | 8842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. . | 18 | 3923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.\* | 24 | 2474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc | 128 | 6295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp | 47 | 5376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc.\* | 42 | 4160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 6 | 2704 |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 43 | 5544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fastenal Co. | 224 | 9408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Co. | 599 | 6499 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Co. | 148 | 7283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genuine Parts Co. | 22 | 2669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hasbro, Inc | 21 | 1550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 37 | 9855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 153 | 56096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. Cl A | 36 | 3982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.\* | 24 | 3631 |
| &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 40 | 1480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc | 86 | 19081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.\* . | 17 | 4039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. Cl A | 35 | 9562 |
| &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. | 110 | 32139 |
| &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. Cl B | 181 | 12858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd.\* | 69 | 1399 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVR, Inc.\* | 1 | 7386 |
| &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.\* . | 132 | 11897 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Consumer, Cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PACCAR, Inc. | 102 | $9696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pool Corp. | 6 | 1749 |
| &nbsp;&nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 31 | 3269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 6 | 1646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 51 | 6507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. | 39 | 12212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 112 | 3633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 175 | 16035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tapestry, Inc | 32 | 2810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 95 | 9372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.\* | 430 | 136594 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 172 | 21240 |
| &nbsp;&nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 10 | 1819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Co. | 82 | 4327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.\* | 7 | 3275 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.\* | 64 | 5096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | 152 | 1745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc | 910 | 88980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 18 | 2941 |
| &nbsp;&nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 8 | 8322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 43 | 6372 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722499 |
|  Consumer, Non-cyclical (13.6%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Align Technology, Inc.\* | 27 | 5112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc | 209 | 58355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | 102 | 5384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 79 | 24364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp | 12 | 2106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc . | 200 | 6056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc.\* | 57 | 7159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.\* | 575 | 61761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown-Forman Corp. Cl B | 39 | 1050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Global SA | 29 | 2328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 93 | 15624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cencora, Inc | 67 | 20090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna Group | 104 | 34380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cintas Corp. | 67 | 14932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clorox Co. | 26 | 3122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 171 | 15544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | 101 | 2067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. Cl A | 33 | 5368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Contra ABIOMED, Inc. — contingent value rights\* | 20 | 0‡ |
| &nbsp;&nbsp;&nbsp;&nbsp; Corpay, Inc.\* | 12 | 3982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. | 105 | 7826 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | 491 | 33869 |
| &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* | 17 | 2422 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.\* | 153 | $13355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.\* | 228 | 17832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 88 | 34229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | 24 | 6225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. Cl A | 50 | 4040 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc | 178 | 13184 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 116 | 6010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 483 | 53550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc | 43 | 3442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Henry Schein, Inc.\* | 48 | 3506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hershey Co. | 31 | 5144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hologic, Inc.\* | 87 | 5669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 62 | 1876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc | 47 | 11491 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.\*. | 32 | 17163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Incyte Corp.\* | 63 | 4290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp.\* | 28 | 8797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.\* | 140 | 76077 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.\* | 64 | 10086 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | 23 | 2259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kellanova | 57 | 4533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 287 | 9488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 70 | 9024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 182 | 4699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kroger Co | 129 | 9253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 33 | 8663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 30 | 1556 |
| &nbsp;&nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | 6 | 1340 |
| &nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 54 | 4094 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 49 | 35906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medtronic PLC | 498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.\* | 22 | 6554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. Cl B | 37 | 1779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.\* . | 148 | 9271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moody's Corp | 27 | 13543 |
| &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.\* | 171 | 12709 |
| &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc | 288 | 38028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Co | 494 | 78704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 29 | 10964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc | 44 | 7904 |
| &nbsp;&nbsp;&nbsp;&nbsp; ResMed, Inc | 57 | 14706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollins, Inc. | 55 | 3103 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. | 55 | 29001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp.\* | 54 | 4095 |
| &nbsp;&nbsp;&nbsp;&nbsp; STERIS PLC | 39 | 9369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp | 134 | 53014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 103 | 7801 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** |  |  |
|  Consumer, Non-cyclical (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; The Campbell's Company | 42 | $1287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods, Inc. Cl A | 61 | 3412 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Rentals, Inc. | 13 | 9794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 27 | 8411 |
| &nbsp;&nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 28 | 6126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 77 | 7023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 173 | 26979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126670 |
|  Energy (2.9%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Corp. | 55 | 1006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 150 | 5751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp | 248 | 35511 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 193 | 17320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 116 | 2944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy Corp. | 98 | 3117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 28 | 3847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.\* | 20 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 84 | 10047 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp | 91 | 5307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 32 | 3742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 657 | 70825 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc.\* | 16 | 2649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halliburton Co. | 131 | 2670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 42 | 5819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 294 | 8643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 47 | 7807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 107 | 4495 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 95 | 7755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 62 | 7397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger NV | 208 | 7030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp | 33 | 5745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. . | 2 | 2113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. | 48 | 6452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 185 | 11620 |
|  |  | 240405 |
|  Financial (18.1%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aflac, Inc. | 86 | 9070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp. | 46 | 9260 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. | 96 | 30622 |
| &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. | 101 | 8645 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | 77 | 17019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. . | 16 | 8540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon PLC Cl A | 37 | 13200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 78 | 11066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. | 65 | 5918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co . | 44 | 14085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 8 | 1580 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 23 | $4680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 1146 | 54229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp | 125 | 11389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackrock, Inc | 25 | 26231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Inc. | 127 | 18997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 41 | 4546 |
| &nbsp;&nbsp;&nbsp;&nbsp; BXP, Inc. | 24 | 1619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust | 17 | 1916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 111 | 23616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 18 | 4198 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBRE Group, Inc. Cl A\* | 49 | 6866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 298 | 27190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chubb Ltd. | 65 | 18832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Financial Corp | 27 | 4021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | 76 | 3401 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 62 | 17088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Cl A\* | 36 | 12618 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group, Inc.\* | 69 | 5548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 72 | 7397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 52 | 9065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | 16 | 12728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Residential | 56 | 3779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erie Indemnity Co. Cl A | 4 | 1387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 10 | 2834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everest Group Ltd. | 7 | 2379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Extra Space Storage, Inc | 35 | 5160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 12 | 1140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 117 | 4812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | 54 | 1288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global X S&P 500 Catholic Values ETF | 4159 | 313797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Globe Life, Inc. | 15 | 1864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 54 | 38219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 50 | 6343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | 115 | 1766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 254 | 4257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 100 | 18347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Ltd | 78 | 1230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 94 | 3083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 48 | 4923 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 486 | 140896 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 173 | 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty Corp | 112 | 2354 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR & Co., Inc | 118 | 15698 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Financial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loews Corp. | 30 | $2750 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 28 | 5432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 86 | 18803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. Cl A | 142 | 79795 |
| &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. | 99 | 7962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc | 19 | 2812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 216 | 30426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 72 | 6438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 34 | 4311 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 69 | 12863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Principal Financial Group, Inc. | 36 | 2859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progressive Corp. | 102 | 27220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 154 | 16188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. . | 61 | 6554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Storage | 26 | 7629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | 32 | 4908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | 149 | 8584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. | 27 | 1923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regions Financial Corp. | 158 | 3716 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications Corp | 17 | 3992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 50 | 8038 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp. | 50 | 5317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | 67 | 4472 |
| &nbsp;&nbsp;&nbsp;&nbsp; T Rowe Price Group, Inc. . | 38 | 3667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travelers Cos., Inc | 39 | 10434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 229 | 9845 |
| &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. | 49 | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 272 | 12308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. Cl A | 300 | 106515 |
| &nbsp;&nbsp;&nbsp;&nbsp; W R Berkley Corp. | 52 | 3820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co | 569 | 45588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc | 102 | 15680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 120 | 3083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 17 | 5210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502727 |
|  Industrial (6.8%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M Co. | 105 | 15985 |
| &nbsp;&nbsp;&nbsp;&nbsp; A O Smith Corp. | 22 | 1443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegion PLC | 16 | 2306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amcor PLC | 353 | 3244 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 45 | 8143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. Cl A | 187 | 18466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\* | 14 | 11591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | 43 | 2412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.\* | 22 | 2567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 156 | 11418 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 92 | $35715 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc. | 23 | 2207 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp | 368 | 12008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. | 49 | 24916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dover Corp | 26 | 4764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 76 | 27131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Co. | 110 | 14666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc | 26 | 2970 |
| &nbsp;&nbsp;&nbsp;&nbsp; FedEx Corp. | 43 | 9774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortive Corp. | 66 | 3441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Garmin Ltd. | 24 | 5009 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE Vernova, Inc | 53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc.\* | 11 | 1575 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. | 209 | 53795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc . | 79 | 14704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubbell, Inc. | 10 | 4084 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX Corp. | 14 | 2458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 52 | 12857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc | 79 | 6571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc | 17 | 3708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc | 23 | 3023 |
| &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 15 | 2154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 129 | 13625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.\* | 26 | 4260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. . | 6 | 3439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 9 | 4941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 41 | 2639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.\* | 9 | 10572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mohawk Industries, Inc.\* | 8 | 839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordson Corp | 10 | 2144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 44 | 11263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 36 | 5843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 77 | 7625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging Corp. of America | 13 | 2450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pentair PLC | 32 | 3285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralliant Corp.\* | 1 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic Services, Inc. | 39 | 9618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 22 | 7308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 77 | 3323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap-on, Inc | 10 | 3112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 30 | 2033 |
| &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity PLC | 46 | 7759 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Industrial (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies PLC | 43 | $18809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trimble, Inc.\* | 37 | 2811 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 117 | 26919 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. Cl B | 143 | 14434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veralto Corp. | 48 | 4846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co | 20 | 5216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. . | 71 | 16246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp | 33 | 6909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc. | 47 | 6080 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561546 |
|  Technology (30.7%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accenture PLC Cl A | 97 | 28992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.\* | 67 | 25921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.\* | 251 | 35617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.\* | 23 | 1834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 77 | 18328 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANSYS, Inc.\* | 13 | 4566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 2319 | 475789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 126 | 23067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.\* | 33 | 10216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 729 | 200949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 23 | 5590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.\* | 42 | 12942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Cl A | 76 | 5930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. Cl A\* | 38 | 19354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dayforce, Inc.\* | 31 | 1717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Cl C | 47 | 5762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 35 | 5589 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPAM Systems, Inc.\* | 8 | 1415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\* | 3 | 5484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 92 | 7490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc.\* | 97 | 16724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.\* | 98 | 10361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc.\* | 11 | 4446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 203 | 4151 |
| &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 146 | 3571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. | 677 | 15165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 43 | 33868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 12 | 2162 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp. | 20 | 17915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp | 198 | 19273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 83 | 5841 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Technology (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 173 | $21322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 1153 | 573514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 7 | 5120 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc. | 13 | 7498 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 31 | 3303 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 3786 | 598150 |
| &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors NV . | 39 | 8521 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\* | 65 | 3407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 252 | 55095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palantir Technologies, Inc. Cl A\* | 330 | 44986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 62 | 9019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc. | 9 | 2083 |
| &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\* | 18 | 3102 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc | 171 | 27233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc. . | 16 | 9069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc. | 148 | 40358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 32 | 4619 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.\* | 32 | 32899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc . | 24 | 1788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.\* | 79 | 3872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys, Inc.\* | 24 | 12304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.\* | 25 | 6071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. | 25 | 2248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc | 141 | 29274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.\* | 6 | 3557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Digital Corp. | 54 | 3455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Workday, Inc. Cl A\* | 33 | 7920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Cl A\* | 7 | 2158 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551974 |
|  Utilities (2.3%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AES Corp. | 108 | 1136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 39 | 2358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameren Corp. | 41 | 3938 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 81 | 8405 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Water Works Co., Inc. | 29 | 4034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 24 | 3699 |
| &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc . | 99 | 3637 |
| &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. | 45 | 3118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc | 54 | 5419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 47 | 15170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc | 129 | 7291 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co. | 31 | 4106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | 118 | 13924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edison International | 58 | 2993 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CATHOLIC VALUES INDEX FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Utilities (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 67 | $5569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evergy, Inc. | 35 | 2413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy | 55 | 3499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 153 | 6643 |
| &nbsp;&nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 78 | 3140 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc | 313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21728 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | 71 | 2864 |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 30 | 4817 |
| &nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. | 334 | 4656 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** | **COMMON STOCKS (Continued):** |
|  Utilities (Continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp | 18 | $1610 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPL Corp. | 112 | 3796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | 76 | 6398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sempra | 99 | 7501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co | 167 | 15336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 51 | 9884 |
| &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. . | 48 | 5002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 87 | 5925 |
|  |  | 190009 |
|  Total Common Stocks<br>(Cost: $5,788,122) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8305852 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.1%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $5508 | $5508 |
|  Total Temporary Cash Investment<br>(Cost: $5,508) |  |  | 5508 |
|  Total Investments<br>(Cost: $5,793,630) 100.1% |  |  | 8311360 |
|  Other Net Assets -0.1% |  |  | (9739) |
|  Net Assets 100.0% |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8301621 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
\* Non-income producing security.

‡ Level 3 Security.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **RETIREMENT INCOME FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (35.0%) | 8539656 | $105977128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (22.4%) | 966419 | 67958572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (27.6%) | 8543216 | 83467221 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (5.6%) | 1683710 | 17005475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (4.1%) | 604608 | 12563749 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (5.3%) | 16016247 | 16016247 |
|  Total Investments<br>(Cost: $289,771,501) 100.0% |  | 302988392 |
|  Other Net Assets -0.0%(1) |  | (81878) |
|  Net Assets 100.0% |  | $302906514 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CLEAR PASSAGE 2020 FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (36.7%) | 12793922 | $158772572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (24.2%) | 1490827 | 104834983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (20.2%) | 8943034 | 87373442 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (7.8%) | 3356356 | 33899201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (4.5%) | 932170 | 19370491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (0.6%) | 198664 | 2697857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (1.1%) | 349475 | 4822755 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (4.9%) | 21083022 | 21083022 |
|  Total Investments<br>(Cost: $414,193,887) 100.0% |  | 432854323 |
|  Other Net Assets -0.0%(1) |  | (101768) |
|  Net Assets 100.0% |  | $432752555 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **CLEAR PASSAGE 2025 FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (33.1%) | 28765561 | $356980610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (30.0%) | 4603648 | 323728560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (15.2%) | 16794192 | 164079254 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (11.7%) | 12534206 | 126595479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (4.6%) | 2406136 | 49999509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (1.0%) | 775358 | 10529356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (1.5%) | 1188558 | 16402095 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (2.9%) | 31364924 | 31364924 |
|  Total Investments<br>(Cost: $1,007,177,842) 100.0% |  | 1079679787 |
|  Other Net Assets -0.0%(1) |  | (218135) |
|  Net Assets 100.0% |  | $1079461652 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2030 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (27.4%) | 31952774 | $396533930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (35.0%) | 7205036 | 506658134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (10.6%) | 15702065 | 153409177 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (14.0%) | 20079825 | 202806238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (5.5%) | 3816665 | 79310296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (1.5%) | 1318117 | 22170723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (1.3%) | 1388307 | 18853205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (1.9%) | 1997650 | 27567574 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (2.8%) | 41535127 | 41535127 |
|  Total Investments<br>(Cost: $1,324,545,812) 100.0% |  | 1448844404 |
|  Other Net Assets -0.0%(1) |  | (273002) |
|  Net Assets 100.0% |  | $1448571402 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2035 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (21.5%) | 25393134 | $315128794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (40.9%) | 8509118 | 598361174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (4.8%) | 7256868 | 70899603 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (17.0%) | 24687232 | 249341039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (7.6%) | 5326948 | 110693984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (1.3%) | 1105410 | 18593002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (0.9%) | 1357254 | 13518253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (1.2%) | 1342307 | 18228534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (2.0%) | 2112420 | 29151397 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (2.8%) | 40964432 | 40964432 |
|  Total Investments<br>(Cost: $1,319,730,697) 100.0% |  | 1464880212 |
|  Other Net Assets -0.0%(1) |  | (273708) |
|  Net Assets 100.0% |  | $1464606504 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2040 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (13.9%) | 14248319 | $176821643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (43.6%) | 7876142 | 553850278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (3.8%) | 4942727 | 48290444 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (21.3%) | 26882560 | 271513859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (9.6%) | 5864164 | 121857322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (0.9%) | 715287 | 12031126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (1.9%) | 2400112 | 23905118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (1.1%) | 1071499 | 14550950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (2.0%) | 1803299 | 24885526 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (1.9%) | 23963387 | 23963387 |
|  Total Investments<br>(Cost: $1,132,955,781) 100.0% |  | 1271669653 |
|  Other Net Assets -0.0%(1) |  | (239333) |
|  Net Assets 100.0% |  | $1271430320 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2045 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (10.1%) | 10683129 | $132577632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (45.6%) | 8473022 | 595822934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (2.9%) | 3818876 | 37310419 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (23.1%) | 29903393 | 302024270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (9.8%) | 6141834 | 127627316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (0.9%) | 735632 | 12373331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (1.9%) | 2508982 | 24989460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (2.0%) | 1951544 | 26501969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (1.8%) | 1754131 | 24207013 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (1.9%) | 24642579 | 24642579 |
|  Total Investments<br>(Cost: $1,160,712,068) 100.0% |  | 1308076923 |
|  Other Net Assets -0.0%(1) |  | (246744) |
|  Net Assets 100.0% |  | $1307830179 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2050 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (7.5%) | 6236625 | $77396517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (47.7%) | 6978819 | 490750541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (1.1%) | 1193449 | 11659997 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (23.3%) | 23786648 | 240245141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (10.4%) | 5168892 | 107409584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (1.9%) | 1186801 | 19961985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (1.9%) | 1948674 | 19408795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (2.2%) | 1655002 | 22474927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (2.1%) | 1575381 | 21740265 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (1.9%) | 19160799 | 19160799 |
|  Total Investments<br>(Cost: $910,177,872) 100.0% |  | 1030208551 |
|  Other Net Assets -0.0%(1) |  | (205974) |
|  Net Assets 100.0% |  | $1030002577 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2055 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (6.3%) | 3100540 | $38477706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (47.5%) | 4106161 | 288745258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (0.8%) | 489201 | 4779490 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (24.9%) | 14991220 | 151411324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (11.0%) | 3221334 | 66939322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (1.9%) | 678602 | 11414090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (2.7%) | 1623137 | 16166443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (2.0%) | 878362 | 11928151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (2.0%) | 868354 | 11983281 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (0.9%) | 5643465 | 5643465 |
|  Total Investments<br>(Cost: $537,205,958) 100.0% |  | 607488530 |
|  Other Net Assets -0.0%(1) |  | (126543) |
|  Net Assets 100.0% |  | $607361987 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2060 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (4.4%) | 1248753 | $15497031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (46.5%) | 2313177 | 162662614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (0.6%) | 215775 | 2108123 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (26.1%) | 9053214 | 91437460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (11.7%) | 1973828 | 41016145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (2.0%) | 423041 | 7115552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (2.7%) | 955391 | 9515692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (2.2%) | 553887 | 7521790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (2.9%) | 731346 | 10092575 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (0.9%) | 3078611 | 3078611 |
|  Total Investments<br>(Cost: $308,174,634) 100.0% |  | 350045593 |
|  Other Net Assets -0.0%(1) |  | (85769) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349959824 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2065 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (3.4%) | 411665 | $5108758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (46.6%) | 1006570 | 70782008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (0.6%) | 98714 | 964431 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (25.6%) | 3856349 | 38949124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (11.3%) | 827613 | 17197807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (2.8%) | 253634 | 4266119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (2.7%) | 411383 | 4097376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (3.1%) | 341201 | 4633515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (3.1%) | 344620 | 4755759 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (0.8%) | 1272504 | 1272504 |
|  Total Investments<br>(Cost: $135,723,713) 100.0% |  | 152027401 |
|  Other Net Assets -0.0%(1) |  | (53977) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151973424 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CLEAR PASSAGE 2070 FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (1.9%) | 2608 | $32360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (45.9%) | 11006 | 773936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (1.0%) | 1654 | 16156 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (25.1%) | 41889 | 423074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (14.1%) | 11410 | 237103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value Fund (3.0%) | 2972 | 49981 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Equity Index Fund (2.0%) | 3404 | 33902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (3.5%) | 4387 | 59579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (3.5%) | 4242 | 58538 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (0.9%) | 16094 | 16094 |
|  Total Investments<br>(Cost: $1,612,457) 100.9% |  | 1700723 |
|  Other Net Assets -0.9% |  | (14533) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686190 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CONSERVATIVE ALLOCATION FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (34.8%) | 4186008 | $51948360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (25.5%) | 541516 | 38079427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (24.2%) | 3696815 | 36117886 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (5.8%) | 867448 | 8761223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (5.0%) | 362262 | 7527813 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Government Money Market Fund (4.7%) | 6996277 | 6996277 |
|  Total Investments<br>(Cost: $145,284,704) 100.0% |  | 149430986 |
|  Other Net Assets -0.0%(1) |  | (40960) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149390026 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — MOA MODERATE ALLOCATION FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (23.3%) | 7405095 | $91897226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (36.0%) | 2014133 | 141633822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (13.4%) | 5384109 | 52602747 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (17.3%) | 6731678 | 67989946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (10.0%) | 1894474 | 39367177 |
|  Total Investments<br>(Cost: $356,743,803) 100.0% |  | 393490918 |
|  Other Net Assets -0.0%(1) |  | (53649) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393437269 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — AGGRESSIVE ALLOCATION FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **AFFILIATED MUTUAL FUNDS (100.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Bond Fund (14.1%) | 3794385 | $47088317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Index Fund (36.9%) | 1751076 | 123135661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Bond Fund (1.4%) | 487283 | 4760757 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Fund (21.1%) | 6961404 | 70310176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Equity Index Fund (17.4%) | 2804460 | 58276678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth Fund (4.7%) | 1146298 | 15566720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Cap Value Fund (4.4%) | 1066420 | 14716593 |
|  Total Investments<br>(Cost: $294,023,109) 100.0% |  | 333854902 |
|  Other Net Assets -0.0%(1) |  | (49520) |
|  Net Assets 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333805382 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
(1) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — US GOVERNMENT MONEY MARKET FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Face Amount** | **Value** |
|  **SHORT-TERM DEBT SECURITIES (100.7%):** |  |  |  |  |  |  |
|  U.S. Government (58.1%) | U.S. Government (58.1%) | U.S. Government (58.1%) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.22 | 07/08/25 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23850000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23830383 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.23 | 07/15/25 |  | 33200000 | 33145515 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.23 | 07/22/25 |  | 40750000 | 40649449 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.23 | 07/29/25 |  | 46000000 | 45849067 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.23 | 07/31/25 |  | 25000000 | 24912083 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.24 | 07/24/25 |  | 19000000 | 18949016 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.25 | 07/01/25 |  | 27000000 | 27000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.25 | 07/10/25 |  | 25300000 | 25273309 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.26 | 07/03/25 |  | 18900000 | 18895566 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.34 | 08/05/25 |  | 23500000 | 23402730 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | A-1+ | 4.34 | 08/07/25 |  | 26000000 | 25887366 |
|  |  |  |  |  |  | 307794484 |
|  U.S. Government Agencies (42.6%) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/01/25 |  | 11280000 | 11280000 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/07/25 |  | 5000000 | 4996487 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/16/25 |  | 24500000 | 24456819 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/18/25 |  | 40500000 | 40419293 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/29/25 |  | 26000000 | 25915876 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.17 | 07/30/25 |  | 30500000 | 30396195 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.22 | 08/01/25 |  | 22000000 | 21920149 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | A-1+ | 4.22 | 08/06/25 |  | 34000000 | 33856350 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | A-1+ | 4.17 | 07/28/25 |  | 32500000 | 32397137 |
|  |  |  |  |  |  | 225638306 |
|  Total Short-Term Debt Securities<br>(Cost: $533,432,790) | Total Short-Term Debt Securities<br>(Cost: $533,432,790) | Total Short-Term Debt Securities<br>(Cost: $533,432,790) | Total Short-Term Debt Securities<br>(Cost: $533,432,790) | Total Short-Term Debt Securities<br>(Cost: $533,432,790) | Total Short-Term Debt Securities<br>(Cost: $533,432,790) | 533432790 |
|  |  |  | **Rate(%)** | **Face Amount** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(1)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares |  |  | 4.11 | $| 23868 | $23868 |
|  Total Temporary Cash Investment<br>(Cost: $23,868) | Total Temporary Cash Investment<br>(Cost: $23,868) | Total Temporary Cash Investment<br>(Cost: $23,868) | Total Temporary Cash Investment<br>(Cost: $23,868) | Total Temporary Cash Investment<br>(Cost: $23,868) | Total Temporary Cash Investment<br>(Cost: $23,868) | 23868 |
|  Total Investments<br>(Cost: $533,456,658) 100.7% | Total Investments<br>(Cost: $533,456,658) 100.7% | Total Investments<br>(Cost: $533,456,658) 100.7% | Total Investments<br>(Cost: $533,456,658) 100.7% | Total Investments<br>(Cost: $533,456,658) 100.7% | Total Investments<br>(Cost: $533,456,658) 100.7% | 533456658 |
|  Other Net Assets -0.7% | Other Net Assets -0.7% | Other Net Assets -0.7% | Other Net Assets -0.7% | Other Net Assets -0.7% | Other Net Assets -0.7% | (3748284) |
|  Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529708374 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| FHLB = | Federal Home Loan Bank |
| FHLMC = | Federal Home Loan Mortgage Corporation |

---

(1) Percentage is less than 0.05%.

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERMEDIATE BOND FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **U.S. Government (43.5%)** |  |  |  |  |  |
|  U.S. Treasury Note | AA+ | 0.63 | 08/15/30 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25300000 | $21576156 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 1.50 | 11/30/28 | 7100000 | 6599117 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 1.75 | 01/31/29 | 9980000 | 9324283 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 2.63 | 05/31/27 | 21000000 | 20567695 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 2.75 | 07/31/27 | 20000000 | 19609375 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.25 | 06/30/27 | 6200000 | 6144297 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.38 | 05/15/33 | 6010000 | 5730159 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.50 | 04/30/28 | 24100000 | 23970086 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.63 | 03/31/28 | 29100000 | 29049984 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.75 | 04/15/28 | 4780000 | 4786349 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.75 | 05/15/28 | 1200000 | 1201969 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.75 | 08/31/31 | 7200000 | 7133063 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 05/31/27 | 2500000 | 2505957 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 11/30/27 | 21900000 | 21983836 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 04/30/30 | 2200000 | 2209109 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 08/15/33 | 31420000 | 30948700 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 08/15/34 | 3600000 | 3516188 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.00 | 03/31/30 | 3200000 | 3230250 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.00 | 05/31/30 | 9990000 | 10088339 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.13 | 07/31/28 | 18500000 | 18724024 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.13 | 07/31/31 | 9800000 | 9914078 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.13 | 11/15/32 | 17660000 | 17781413 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.25 | 05/15/35 | 3970000 | 3976823 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.38 | 11/30/28 | 5300000 | 5411383 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.38 | 11/30/30 | 7500000 | 7694531 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.38 | 05/15/34 | 11300000 | 11478328 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.50 | 11/15/33 | 2500000 | 2568359 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AAA | 4.63 | 09/30/30 | 15000000 | 15566016 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.63 | 04/30/31 | 16000000 | 16615000 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.63 | 05/31/31 | 6900000 | 7164680 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.63 | 02/15/35 | 27500000 | 28380859 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.88 | 10/31/30 | 11500000 | 12073203 |
|  |  |  |  |  | 387523609 |
|  U.S. Government Agencies (1.8%) |  |  |  |  |  |
|  Non-Mortgage-Backed Obligations (1.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FFCB | AA+ | 5.37 | 01/28/32 | 2000000 | 1999458 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.00 | 10/22/32 | 2000000 | 1988397 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.13 | 02/26/30 | 4800000 | 4797790 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.25 | 06/09/32 | 2000000 | 1997468 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.30 | 02/27/32 | 5500000 | 5495427 |
|  |  |  |  |  | 16278540 |
|  Corporate Debt (53.6%) |  |  |  |  |  |
|  Basic Materials (1.1%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings LLC | BB+ | 6.42 | 07/15/27 | 3480000 | 3603749 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc.† | BBB- | 1.83 | 10/15/27 | 5000000 | 4709211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | BBB | 5.00 | 12/15/26 | 1953000 | 1955153 |
|  |  |  |  |  | 10268113 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

**MoA FUNDS** — **INTERMEDIATE BOND FUND** 

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Communications (2.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | BBB | 2.75 | 06/01/31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250000 | $&nbsp;&nbsp;&nbsp;&nbsp;4757548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | BBB | 4.85 | 08/15/30 | 5000000 | 5055450 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 3.38 | 04/15/29 | 2745000 | 2643392 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 3.75 | 04/15/27 | 1840000 | 1821441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | BBB | 4.50 | 08/15/29 | 4440000 | 4417144 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc. | BBB | 4.75 | 07/15/27 | 3500000 | 3500813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | BBB+ | 4.02 | 12/03/29 | 3200000 | 3156927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | BBB+ | 4.13 | 03/16/27 | 405000 | 404864 |
|  |  |  |  |  | 25757579 |
|  Consumer, Cyclical (3.4%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. | BBB | 6.25 | 11/01/28 | 3500000 | 3710464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | BBB | 3.85 | 05/01/27 | 2341000 | 2321788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | BBB- | 2.70 | 08/10/26 | 2411000 | 2347608 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | BBB | 5.75 | 02/08/31 | 4315000 | 4433380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. | BBB | 5.00 | 06/15/27 | 3500000 | 3524701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | BBB+ | 2.63 | 04/01/31 | 2000000 | 1804042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | BBB+ | 4.50 | 04/15/30 | 2640000 | 2659448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc.† | BBB | 3.38 | 04/01/26 | 2814000 | 2777637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc.† | BBB | 5.88 | 12/15/27 | 1181000 | 1184641 |
| &nbsp;&nbsp;&nbsp;&nbsp; PulteGroup, Inc | BBB+ | 5.00 | 01/15/27 | 1727000 | 1739322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers Finance Corp. | BBB | 4.88 | 03/15/27 | 3731000 | 3741872 |
|  |  |  |  |  | 30244903 |
|  Consumer, Non-cyclical (4.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | A- | 4.25 | 11/14/28 | 2546000 | 2558577 |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | A- | 4.80 | 03/15/29 | 3500000 | 3568478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | BBB+ | 5.15 | 03/02/28 | 4375000 | 4469539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | BBB+ | 2.75 | 05/14/31 | 4400000 | 3981586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | A- | 4.20 | 09/17/29 | 660000 | 652740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc | BBB | 4.80 | 01/15/29 | 2875000 | 2905978 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | BBB | 3.25 | 08/15/29 | 2375000 | 2256730 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | BBB | 5.40 | 06/01/29 | 2500000 | 2571595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 2.88 | 09/15/29 | 2900000 | 2731576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 4.75 | 02/15/30 | 1160000 | 1173670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | BBB | 4.80 | 09/15/29 | 4500000 | 4538599 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc | BBB | 4.80 | 01/15/31 | 2500000 | 2520402 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | BBB | 5.90 | 11/15/28 | 3300000 | 3468087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc | BBB | 5.10 | 03/15/27 | 1450000 | 1468003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | BBB | 4.75 | 08/09/27 | 3000000 | 3025363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp. | BBB- | 5.40 | 03/01/29 | 2000000 | 2059780 |
|  |  |  |  |  | 43950703 |
|  Energy (5.4%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP | BBB | 4.50 | 10/01/29 | 3034000 | 3001070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | BBB | 5.15 | 01/30/30 | 2075000 | 2120970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | BBB | 5.20 | 04/18/27 | 2500000 | 2534900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.25 | 07/01/29 | 3465000 | 3551315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.55 | 02/15/28 | 845000 | 869465 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. | BBB- | 3.90 | 10/01/27 | 1974000 | 1947429 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — INTERMEDIATE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Energy (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.† | BBB- | 7.50 | 06/01/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | BBB- | 4.30 | 04/01/27 | 3136000 | 3129527 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 4.50 | 10/01/30 | 1800000 | 1746035 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 5.75 | 01/15/31 | 1130000 | 1157320 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 6.38 | 04/15/27 | 1753000 | 1769686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | BBB | 5.10 | 08/01/29 | 4495000 | 4594156 |
| &nbsp;&nbsp;&nbsp;&nbsp; MPLX LP | BBB | 4.25 | 12/01/27 | 4710000 | 4693432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | BB+ | 6.38 | 09/01/28 | 2180000 | 2267408 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | BBB | 4.40 | 10/15/29 | 1650000 | 1637387 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc.† | BBB | 5.63 | 01/15/28 | 2370000 | 2421819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa Resources Partners Finance Corp. | BBB | 5.50 | 03/01/30 | 2415000 | 2449872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa Resources Partners Finance Corp. | BBB | 6.88 | 01/15/29 | 2250000 | 2295775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP | BBB- | 4.75 | 08/15/28 | 3738000 | 3739612 |
|  |  |  |  |  | 48170115 |
|  Financial (22.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc | BBB+ | 4.50 | 07/30/29 | 4700000 | 4691124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alleghany Corp. | AA | 3.63 | 05/15/30 | 2200000 | 2136216 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(1)(2) | A- | 5.39 | 07/28/27 | 3085000 | 3115074 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(1)(2) | A- | 5.53 | 04/25/30 | 3060000 | 3181019 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 2.90 | 01/15/30 | 3900000 | 3633835 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 5.80 | 11/15/28 | 750000 | 782539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon North America, Inc. | A- | 5.15 | 03/01/29 | 4300000 | 4404432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co | BBB | 4.60 | 12/15/27 | 3000000 | 3023704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.(1)(2) | A- | 3.97 | 03/05/29 | 5309000 | 5249306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.(1)(2) | A- | 5.20 | 04/25/29 | 7000000 | 7153695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.(1)(2) | A | 4.94 | 02/11/31 | 6500000 | 6633976 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB | 4.88 | 11/17/25 | 3470000 | 3467651 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB- | 5.13 | 06/11/30 | 1000000 | 989146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC(1)(2) | BBB+ | 5.83 | 05/09/27 | 2000000 | 2020202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 3.25 | 01/30/31 | 3100000 | 2840614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 4.50 | 12/01/28 | 2000000 | 1983855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | BBB- | 4.70 | 06/23/28 | 500000 | 504368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | BBB | 4.10 | 02/09/27 | 2895000 | 2881731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.(1)(2) | BBB | 4.93 | 05/10/28 | 1475000 | 1486333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(1)(2) | BBB+ | 3.98 | 03/20/30 | 9675000 | 9479138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(1)(2) | BBB+ | 4.79 | 03/04/29 | 2000000 | 2014404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc.(1)(2) | BBB+ | 5.84 | 01/23/30 | 4025000 | 4167257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust LP | BBB | 5.55 | 01/15/28 | 4543000 | 4661393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | BBB | 3.20 | 11/18/29 | 4880000 | 4630131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(1)(2) | BBB+ | 4.90 | 09/06/30 | 1600000 | 1617894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(1)(2) | BBB+ | 6.34 | 07/27/29 | 2200000 | 2316596 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Bank | BBB | 5.75 | 05/01/30 | 2068000 | 2116044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | BBB+ | 2.60 | 02/07/30 | 2600000 | 2403494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.(1)(2) | BBB+ | 2.64 | 02/24/28 | 2935000 | 2850832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | BBB+ | 3.85 | 01/26/27 | 5620000 | 5583289 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — INTERMEDIATE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Financial (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts LP | BBB- | 3.38 | 12/15/29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | $3869118 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(1)(2) | A | 3.51 | 01/23/29 | 7830000 | 7669272 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(1)(2) | A | 5.00 | 07/22/30 | 3150000 | 3207097 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyBank N.A | BBB+ | 5.85 | 11/15/27 | 1000000 | 1032202 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | BBB | 2.25 | 04/06/27 | 3073000 | 2963747 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | BBB | 2.55 | 10/01/29 | 600000 | 553855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kilroy Realty LP | BBB- | 4.25 | 08/15/29 | 2000000 | 1930801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | BBB+ | 3.25 | 08/15/26 | 1905000 | 1879359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.† | BBB | 4.57 | 02/01/29 | 4600000 | 4605070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co. | BBB+ | 3.40 | 08/17/27 | 3700000 | 3612222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury General Corp. | BBB- | 4.40 | 03/15/27 | 3030000 | 3003630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(1)(2) | A- | 4.43 | 01/23/30 | 2425000 | 2419443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(1)(2) | A- | 5.12 | 02/01/29 | 4670000 | 4751516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(1)(2) | A- | 5.45 | 07/20/29 | 3920000 | 4030943 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | BBB+ | 3.60 | 12/15/26 | 4460000 | 4408604 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Bank N.A. | A- | 2.70 | 10/22/29 | 1500000 | 1396438 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(1)(2) | A- | 5.58 | 06/12/29 | 2730000 | 2827770 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(1)(2) | A- | 6.62 | 10/20/27 | 2200000 | 2262171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis LP | A | 1.75 | 07/01/30 | 2420000 | 2126204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | A- | 4.70 | 12/15/28 | 4335000 | 4397584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Bank | BBB | 5.63 | 08/23/27 | 300000 | 305986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | BBB- | 3.70 | 08/04/26 | 4290000 | 4248317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.13 | 09/01/26 | 2485000 | 2439131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.88 | 07/15/27 | 1655000 | 1632259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.(1)(2) | A- | 4.87 | 01/26/29 | 4300000 | 4348763 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(1)(2) | A | 4.65 | 02/01/29 | 5240000 | 5274360 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(1)(2) | A | 5.78 | 06/12/29 | 1340000 | 1390747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc. | BBB+ | 3.65 | 06/15/26 | 1945000 | 1927401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(1)(2) | BBB+ | 3.53 | 03/24/28 | 7370000 | 7272517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(1)(2) | BBB+ | 4.97 | 04/23/29 | 500000 | 507090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(1)(2) | BBB+ | 5.20 | 01/23/30 | 3000000 | 3071720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower OP LLC | A- | 2.75 | 01/15/31 | 2130000 | 1946731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp N.A. | BBB | 3.25 | 10/29/29 | 5119000 | 4715348 |
|  |  |  |  |  | 204046708 |
|  Industrial (5.4%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp | BBB+ | 2.80 | 02/15/30 | 4025000 | 3776246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. | BBB- | 5.15 | 08/21/29 | 2819000 | 2865179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boeing Co. | BBB- | 3.20 | 03/01/29 | 4815000 | 4584226 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc | BBB | 4.20 | 04/15/28 | 2400000 | 2386881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flex Ltd. | BBB- | 4.88 | 06/15/29 | 4220000 | 4247820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hexcel Corp. | BB+ | 4.20 | 02/15/27 | 1000000 | 991323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc | BBB | 3.00 | 01/15/29 | 4200000 | 4015321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | BBB- | 3.48 | 12/01/27 | 2000000 | 1958163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. | BBB- | 3.95 | 01/12/28 | 4500000 | 4453025 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | BBB | 5.40 | 01/15/27 | 3400000 | 3457634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. | BBB | 1.70 | 08/01/27 | 3796000 | 3584339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | BBB | 5.13 | 11/19/31 | 3300000 | 3398364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Owens Corning | BBB | 5.50 | 06/15/27 | 2000000 | 2044303 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — INTERMEDIATE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Industrial (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. | BBB | 2.75 | 04/01/31 | $2375000 | $2155185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co. | BBB+ | 4.95 | 12/01/29 | 4460000 | 4545080 |
|  |  |  |  |  | 48463089 |
|  Technology (3.7%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc | BBB+ | 5.05 | 07/12/29 | 4330000 | 4434133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.55 | 10/15/29 | 4030000 | 4010205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.85 | 10/15/31 | 250000 | 248952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp | BBB | 3.75 | 03/25/27 | 1245000 | 1232321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp | BBB | 4.88 | 02/10/28 | 3225000 | 3267120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyndryl Holdings., Inc. | BBB- | 2.05 | 10/15/26 | 3500000 | 3391745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | BBB | 4.90 | 03/15/28 | 3500000 | 3540952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp | BBB | 2.80 | 04/01/27 | 2115000 | 2061465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | BBB+ | 5.10 | 04/15/30 | 3515000 | 3599324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc | BBB | 5.40 | 06/12/29 | 3000000 | 3090942 |
| &nbsp;&nbsp;&nbsp;&nbsp; VMware LLC | BBB+ | 1.40 | 08/15/26 | 3960000 | 3831492 |
|  |  |  |  |  | 32708651 |
|  Utilities (3.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | BBB | 5.20 | 01/15/29 | 4565000 | 4682698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | BBB+ | 3.15 | 01/15/27 | 4500000 | 4404571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | A | 2.30 | 12/01/31 | 4350000 | 3810265 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co | BBB | 5.10 | 03/01/29 | 4660000 | 4753766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | BBB | 4.85 | 01/05/29 | 4400000 | 4470880 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. | BBB+ | 3.55 | 05/01/27 | 3210000 | 3168454 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | BBB+ | 5.20 | 07/01/29 | 4350000 | 4465898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co. | BBB+ | 3.70 | 04/30/30 | 5000000 | 4837445 |
|  |  |  |  |  | 34593977 |
|  Total Corporate Debt |  |  |  |  | 478203838 |
|  Total Long-Term Debt Securities<br>(Cost: $879,722,020) |  |  |  |  | 882005987 |
|  **SHORT-TERM DEBT SECURITIES (0.2%):** |  |  |  |  |  |
|  Commercial Paper (0.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | 1800000 | 1800000 |
|  Total Short-Term Debt Securities<br>(Cost: $1,800,000) |  |  |  |  | 1800000 |
|  Total Investments<br>(Cost: $881,522,020) 99.1% |  |  |  |  | 883805987 |
|  Other Net Assets 0.9% |  |  |  |  | 8220647 |
|  Net Assets 100.0% |  |  |  |  | $892026634 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — INTERMEDIATE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES

---

| | | |
|:---|:---|:---|
| Abbreviations: | Abbreviations: | Abbreviations: |
| FFCB | = | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Farm Credit Bank Funding Corporation |
| FHLB | = | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Bank |

---

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

† Security is 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 June 30, 2025, the aggregate values of these securities amounts to $22,358,459 and represents 2.5% of net assets.

(1) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating.

(2) Variable Rate; rate shown is effective rate at period-end. The rates for certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and based on current market conditions.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (98.7%):** |  |  |  |  |  |
|  U.S. Government (18.6%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.13 | 05/15/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71625000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44497031 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.13 | 08/15/40 | 46250000 | 28429297 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 1.38 | 11/15/40 | 22500000 | 14329688 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 2.25 | 08/15/46 | 29985000 | 19640175 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 2.75 | 08/15/47 | 9790000 | 6978434 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 2.88 | 05/15/43 | 200000 | 154094 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 2.88 | 05/15/49 | 7500000 | 5384766 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 3.63 | 02/15/53 | 23570000 | 19246378 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.00 | 11/15/52 | 30665000 | 26822292 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.13 | 08/15/53 | 42025000 | 37546711 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.25 | 02/15/54 | 11530000 | 10521125 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | AA+ | 4.63 | 05/15/44 | 3500000 | 3432734 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 1.50 | 02/15/30 | 2775000 | 2511375 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 2.63 | 02/15/29 | 23000000 | 22148281 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.63 | 03/31/30 | 24820000 | 24643545 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 11/30/29 | 35925000 | 36087785 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 08/15/33 | 18100000 | 17828500 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 3.88 | 08/15/34 | 7000000 | 6837031 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.00 | 05/31/30 | 14126000 | 14265053 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.13 | 05/31/32 | 2715000 | 2738332 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.25 | 05/15/35 | 23746000 | 23786814 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.50 | 11/15/33 | 5690000 | 5845586 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | AA+ | 4.63 | 02/15/35 | 2100000 | 2167266 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/29 | 3280000 | 2801613 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/33 | 9790000 | 6948562 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/35 | 9790000 | 6256996 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/37 | 9790000 | 5607771 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 02/15/42 | 28575000 | 12555099 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Strip(1) | AA+ | 0.00 | 08/15/48 | 15160000 | 4757976 |
|  |  |  |  |  | 414770310 |
|  U.S. Government Agencies (36.3%) |  |  |  |  |  |
|  Mortgage-Backed Obligations (34.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 1.50 | 10/01/36 | 3333491 | 2974260 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.00 | 02/01/51 | 3288327 | 2652583 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 09/01/27 | 132796 | 130325 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 12/01/27 | 120124 | 117617 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 06/01/35 | 1431416 | 1345610 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 05/01/42 | 11918577 | 10553827 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 10/01/49 | 1591140 | 1337500 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 01/01/50 | 1979804 | 1664212 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 04/01/50 | 13133919 | 10900794 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 05/01/50 | 2871335 | 2425423 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 06/01/50 | 3758221 | 3150716 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 02/01/51 | 1482857 | 1258323 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 04/01/51 | 3903399 | 3300519 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 05/01/51 | 13799134 | 11643379 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 09/01/51 | 3496544 | 2936904 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 10/01/51 | 2773978 | 2310894 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 2.50 | 11/01/51 | 2519648 | 2112013 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 06/01/27 | $78797 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77703 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 08/01/27 | 9006 | 8923 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 02/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081714 | 1052416 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 07/01/42 | 155027 | 141314 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/42 | 363496 | 328118 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 03/01/43 | 650224 | 590253 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 04/01/43 | 7773193 | 7082022 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 09/15/43 | 77903 | 77003 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 04/15/44 | 182642 | 172290 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 04/15/45 | 20793 | 20682 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 09/01/46 | 2575954 | 2255881 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/46 | 231398 | 202863 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 05/01/49 | 1804671 | 1582954 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/49 | 3079940 | 2701547 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 12/01/49 | 1264296 | 1108976 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 02/01/50 | 1813762 | 1590928 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 11/01/50 | 2629666 | 2297607 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 04/01/51 | 1160724 | 1013173 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 10/01/51 | 9672174 | 8371524 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.00 | 06/01/52 | 6104802 | 5336486 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 02/01/35 | 872973 | 847253 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 02/01/36 | 276210 | 267072 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 11/01/39 | 1651005 | 1574452 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 01/01/41 | 291768 | 274845 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 05/01/42 | 20234 | 18976 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 07/01/42 | 767172 | 720497 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 01/01/43 | 18294 | 17157 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 04/01/43 | 12983 | 12189 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 06/01/43 | 538775 | 502878 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 08/15/43 | 876751 | 853985 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 11/01/43 | 44401 | 41642 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 01/01/44 | 7187803 | 6732522 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 04/01/45 | 697957 | 647393 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 07/01/45 | 870320 | 808400 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 09/01/45 | 400741 | 371430 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 11/01/45 | 1608097 | 1494815 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 08/01/46 | 678222 | 625701 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 12/01/47 | 388246 | 356020 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 02/01/50 | 1010306 | 925095 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 3.50 | 09/01/50 | 2171678 | 1976866 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 05/01/26 | 5757 | 5725 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 12/01/33 | 359017 | 353699 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 01/01/38 | 1049500 | 1032634 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 01/15/40 | 712945 | 709496 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 03/01/41 | 5407 | 5256 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 07/01/41 | 271540 | 263678 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 11/01/42 | 5059 | 4898 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 10/01/44 | 1277058 | 1225127 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 02/01/45 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629477 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579177 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 06/01/45 | 24307 | 23184 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 05/01/47 | 298862 | 282775 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 02/01/48 | 257767 | 243902 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 05/01/48 | 116149 | 109718 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 04/01/52 | 3383337 | 3170477 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 06/01/52 | 4174612 | 3922504 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.00 | 08/01/52 | 4203242 | 3948756 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.23 | 05/01/30 | 7361000 | 7309436 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.25 | 12/01/29 | 3250000 | 3234056 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 03/01/34 | 2103 | 2116 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 09/01/41 | 5249 | 5216 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 02/01/44 | 47729 | 47112 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 4.50 | 05/01/48 | 1135969 | 1105513 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 02/01/26 | 671 | 669 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 10/01/40 | 165573 | 167811 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 09/01/47 | 351071 | 351076 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 01/01/52 | 8712120 | 8677811 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 04/01/52 | 3434594 | 3386652 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 06/01/52 | 8517928 | 8400964 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 07/01/52 | 3723387 | 3673780 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 12/01/52 | 16105900 | 15921450 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.00 | 06/01/54 | 1145073 | 1126583 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 07/01/32 | 1178 | 1206 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 01/15/33 | 39745 | 40548 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 05/01/33 | 533 | 549 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 06/01/37 | 7315 | 7573 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 09/25/47 | 2829493 | 2843110 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 06/01/53 | 4228370 | 4255490 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 5.50 | 07/01/53 | 35277023 | 35539695 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 07/15/29 | 13747 | 13854 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 09/01/53 | 2601286 | 2670798 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 02/01/54 | 7331097 | 7477745 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.00 | 01/01/55 | 10988959 | 11176608 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 6.50 | 12/01/52 | 5918036 | 6176210 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 7.00 | 10/01/54 | 2213715 | 2347116 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC | AA+ | 7.00 | 11/01/54 | 3802980 | 4049001 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC ARM RFUCCT1Y + 1.78%(2) | AA+ | 6.78 | 04/01/37 | 16266 | 16373 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC ARM SOFR30A + 2.29%(2) | AA+ | 1.93 | 10/01/51 | 10333308 | 9233935 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC ARM SOFR30A + 2.33%(2) | AA+ | 4.42 | 04/01/53 | 6636979 | 6505165 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC Strip | AA+ | 3.00 | 06/01/42 | 3699547 | 3381713 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC Strip | AA+ | 3.00 | 01/01/43 | 587373 | 532217 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLMC Strip | AA+ | 3.50 | 10/15/47 | 359335 | 327241 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 1.00 | 08/01/36 | 669277 | 578547 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 1.00 | 12/01/36 | 703115 | 605653 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 07/01/36 | 18936384 | 17423977 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 09/01/50 | 7436057 | 5941349 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 10/01/50 | 6415620 | 5178296 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 12/01/50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181806 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519304 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 02/01/51 | 8013034 | 6344180 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 03/01/51 | 13745761 | 10986096 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 08/01/51 | 2328159 | 1854157 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.00 | 12/01/51 | 17210882 | 13666154 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.16 | 02/01/32 | 5000000 | 4300137 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.34 | 05/01/36 | 9237643 | 7538845 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 01/01/33 | 120823 | 115187 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 02/01/33 | 370325 | 353061 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/35 | 327577 | 308041 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 06/01/35 | 2443631 | 2297148 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 07/01/35 | 2583214 | 2428144 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 09/01/35 | 2399039 | 2253754 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 04/01/42 | 11470951 | 10161007 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/42 | 4257921 | 3785716 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 06/01/42 | 7669780 | 6791543 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/43 | 777148 | 675186 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 10/01/50 | 863737 | 729284 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 03/01/51 | 10882238 | 9215431 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 04/01/51 | 15527750 | 13041516 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/51 | 18961107 | 16022767 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 06/01/51 | 1702044 | 1420543 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 03/01/52 | 4113296 | 3418342 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 04/01/52 | 4856143 | 4062084 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.50 | 05/01/52 | 1740422 | 1453233 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 2.77 | 03/01/32 | 5122000 | 4598708 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 06/01/33 | 396439 | 381287 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 07/01/33 | 539116 | 518508 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/33 | 626692 | 602423 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/36 | 633119 | 600946 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/40 | 725809 | 676425 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 12/01/42 | 389164 | 353779 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 02/01/43 | 9918 | 9041 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/43 | 9149 | 8307 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/43 | 141465 | 128424 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 02/01/45 | 755131 | 678355 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/45 | 203126 | 179631 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 09/01/46 | 1346868 | 1196841 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 01/01/47 | 261988 | 229681 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 12/01/47 | 128559 | 113859 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/48 | 350083 | 309087 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 03/01/50 | 1175250 | 1030121 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 05/01/50 | 1866470 | 1639541 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 06/01/50 | 3689826 | 3230751 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 08/01/50 | 2187808 | 1913576 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 01/01/52 | 9227944 | 8033141 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.00 | 04/01/52 | 29014112 | 25112487 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.03 | 04/01/34 | 8575177 | 7627215 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.10 | 06/01/29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9377684 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 03/01/32 | 176212 | 172968 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 09/01/32 | 19310 | 18936 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 07/01/34 | 317809 | 309888 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/34 | 489224 | 475036 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 02/01/35 | 408629 | 396236 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/38 | 14558 | 13650 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/40 | 26887 | 25160 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 03/01/41 | 445479 | 418413 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/41 | 372792 | 347006 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 12/01/41 | 339226 | 315761 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/42 | 705483 | 656463 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/42 | 16426 | 15385 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 12/01/42 | 394843 | 368871 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 01/01/43 | 399522 | 372727 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/43 | 84356 | 78577 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/43 | 2212610 | 2067235 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/43 | 190114 | 177794 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/44 | 1003717 | 912648 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/45 | 1901393 | 1769242 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 05/01/45 | 880325 | 815935 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/45 | 1028235 | 954409 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 02/01/46 | 1885173 | 1727307 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 08/01/46 | 529509 | 489086 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 10/01/46 | 152105 | 139065 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 12/01/46 | 233693 | 215108 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 01/01/47 | 273241 | 249816 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 09/01/47 | 1076343 | 992992 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 11/01/47 | 4800723 | 4402251 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 04/01/48 | 121861 | 111512 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 03/01/50 | 2236811 | 2043821 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 06/01/51 | 6340142 | 5729395 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 01/01/52 | 2767022 | 2506473 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 02/01/52 | 5719569 | 5181002 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.50 | 05/01/52 | 4294853 | 3902327 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 3.75 | 08/01/28 | 5105000 | 5031129 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 01/01/31 | 58627 | 58311 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 03/01/35 | 105042 | 103184 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 06/01/36 | 233586 | 229713 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 10/01/36 | 247977 | 243883 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 10/01/40 | 290850 | 282422 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 11/01/40 | 6245 | 6064 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 01/01/41 | 20214 | 19631 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 05/01/41 | 168957 | 163273 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 05/01/43 | 1765420 | 1714222 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 01/01/44 | 3356561 | 3245831 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 09/01/45 | 143345 | 136526 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 11/01/45 | 338482 | 322425 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 02/01/47 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118267 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063399 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 11/01/47 | 462257 | 437379 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 04/01/48 | 180715 | 170710 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 04/01/49 | 5003042 | 4726048 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 03/01/50 | 3269688 | 3071853 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 03/01/52 | 2052797 | 1937095 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 07/01/52 | 3969327 | 3743153 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.00 | 07/01/56 | 3093567 | 2880761 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/30 | 43039 | 43159 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/34 | 1774 | 1784 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 06/01/34 | 1181 | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 08/01/35 | 1762 | 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/39 | 427469 | 426267 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 12/01/39 | 1022439 | 1027935 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/40 | 175747 | 174730 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 07/01/40 | 763385 | 759731 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 10/01/40 | 151786 | 151283 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 03/01/44 | 369313 | 364067 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 04/01/44 | 640415 | 628306 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 11/01/47 | 2662738 | 2596175 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 02/01/49 | 321924 | 313293 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 4.50 | 05/01/50 | 7348529 | 7132837 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 06/01/33 | 1971 | 2004 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 09/01/33 | 7859 | 7988 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 10/01/33 | 2284 | 2322 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 11/01/33 | 2896 | 2943 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 03/01/34 | 578 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 04/01/34 | 1465 | 1488 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 04/01/35 | 1432 | 1454 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 06/01/35 | 634 | 644 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 09/01/35 | 990 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 10/01/36 | 1179 | 1197 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 08/01/37 | 1087777 | 1105232 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 05/01/39 | 138070 | 140094 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 06/01/40 | 2549 | 2584 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 09/01/52 | 11162575 | 11003746 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 10/01/52 | 1708166 | 1682790 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 11/01/52 | 2825901 | 2799177 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.00 | 07/01/53 | 5603426 | 5510883 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 08/01/25 | 3 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 11/01/26 | 3504 | 3509 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 03/01/33 | 59185 | 60519 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 02/25/37 | 3776 | 3859 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 05/01/38 | 1093181 | 1130865 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 06/01/48 | 22927 | 23655 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 08/25/51 | 9126414 | 9185371 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 06/01/52 | 1005795 | 1012648 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 03/01/53 | 8272879 | 8303677 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 04/01/53 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684455 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701958 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 07/01/54 | 1642969 | 1645740 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 5.50 | 10/01/54 | 7995790 | 8032284 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 03/01/28 | 13827 | 14029 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/32 | 36160 | 37408 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 04/01/33 | 82093 | 85190 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/33 | 1938 | 2011 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/34 | 420 | 437 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 10/01/34 | 2803 | 2918 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 03/01/36 | 5808 | 6082 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 01/01/37 | 22971 | 24057 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 05/01/37 | 6322 | 6633 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 08/01/37 | 32359 | 33955 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 12/01/37 | 13403 | 14064 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 11/01/52 | 4104031 | 4214942 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/53 | 9812950 | 10093924 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 03/01/54 | 8731876 | 8907706 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.00 | 09/01/54 | 17167846 | 17484087 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 05/01/32 | 54832 | 57620 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 07/01/34 | 478 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 09/01/34 | 303 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 09/01/36 | 7188 | 7674 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 05/01/37 | 68928 | 73812 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 07/01/37 | 3830 | 4101 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 6.50 | 02/01/54 | 3782044 | 3931238 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.00 | 04/01/32 | 99 | 105 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.00 | 10/01/54 | 2154173 | 2293530 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 06/01/31 | 49 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 02/01/32 | 257 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 7.50 | 06/01/32 | 12312 | 13256 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA | AA+ | 8.00 | 04/01/32 | 12069 | 12616 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA SOFR30A + 2.30%(2) | AA+ | 4.46 | 02/01/53 | 7617842 | 7515924 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA SOFR30A + 2.37%(2) | AA+ | 1.80 | 09/01/51 | 9910621 | 8847605 |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA Strip | AA+ | 3.00 | 08/01/42 | 359851 | 326940 |
| &nbsp;&nbsp;&nbsp;&nbsp; FRESB Multifamily Mortgage(3) | AA+ | 2.37 | 10/01/26 | 621643 | 606790 |
| &nbsp;&nbsp;&nbsp;&nbsp; FRESB Multifamily Mortgage(3) | AA+ | 3.61 | 10/25/28 | 532212 | 523158 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 1.50 | 07/20/36 | 2476558 | 2234091 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.00 | 04/20/32 | 322304 | 303808 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.00 | 09/20/50 | 1692064 | 1333456 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 12/20/50 | 4153498 | 3512070 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 10/01/51 | 3872682 | 3270049 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 10/20/51 | 3637172 | 3093426 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 08/01/52 | 9987473 | 8491251 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 03/01/53 | 15209153 | 12940130 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 2.50 | 06/01/53 | 6594686 | 5609819 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.00 | 01/15/46 | 726660 | 642530 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.00 | 02/20/47 | 867136 | 775036 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.00 | 10/01/51 | 5402005 | 4735877 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  U.S. Government Agencies (Continued) |  |  |  |  |  |
|  Mortgage-Backed Obligations (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.00 | 08/20/52 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241108 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3751569 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 02/20/42 | 246424 | 228686 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 07/15/42 | 751026 | 702289 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 11/15/42 | 156203 | 146072 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 03/20/45 | 693944 | 644554 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 05/20/45 | 737267 | 684793 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.50 | 12/20/50 | 322872 | 295898 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 3.70 | 05/15/42 | 359300 | 337324 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 03/15/41 | 156617 | 150491 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 11/15/41 | 224903 | 216125 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 01/01/42 | 20383 | 19584 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.00 | 08/01/42 | 225852 | 217684 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.25 | 04/20/41 | 278867 | 272271 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.29 | 04/15/41 | 801 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 06/20/30 | 6369 | 6369 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 09/15/30 | 114621 | 115339 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 04/01/31 | 3368 | 3388 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 06/20/34 | 53608 | 53569 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 09/15/40 | 254086 | 252264 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 10/01/40 | 344494 | 342044 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 4.50 | 10/01/43 | 8785 | 8652 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 5.00 | 06/01/39 | 337721 | 343284 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 5.00 | 05/15/40 | 35046 | 35692 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 5.00 | 06/20/40 | 20688 | 21069 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 5.50 | 01/15/36 | 22744 | 23029 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 04/01/31 | 3921 | 4048 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 10/01/31 | 106 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 12/01/31 | 2457 | 2466 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 6.50 | 05/01/32 | 5886 | 6019 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 7.00 | 05/01/31 | 108 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp; GNMA(4) | AA+ | 7.00 | 05/01/32 | 345 | 345 |
|  |  |  |  |  | 763725353 |
|  Non-Mortgage-Backed Obligations (2.1%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FFCB | AA+ | 5.37 | 01/28/32 | 12000000 | 11996748 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.00 | 10/22/32 | 5875000 | 5840916 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.13 | 02/26/30 | 7000000 | 6996778 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.25 | 06/09/32 | 5000000 | 4993670 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.30 | 12/24/31 | 1720000 | 1718145 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.30 | 02/27/32 | 6450000 | 6444637 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.40 | 03/05/32 | 4860000 | 4855955 |
| &nbsp;&nbsp;&nbsp;&nbsp; FHLB | AA+ | 5.42 | 05/27/32 | 3300000 | 3297073 |
|  |  |  |  |  | 46143922 |
|  Corporate Debt (43.8%) |  |  |  |  |  |
|  Basic Materials (0.9%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings LLC | BB+ | 6.42 | 07/15/27 | 8485000 | 8786726 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc.† | BBB- | 1.83 | 10/15/27 | 9112000 | 8582067 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Basic Materials (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | BBB | 5.00 | 12/15/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3885000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889283 |
|  |  |  |  |  | 21258076 |
|  Communications (2.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | BBB | 2.75 | 06/01/31 | 12275000 | 11123600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc | BBB | 5.40 | 02/15/35 | 5500000 | 5537494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Juniper Networks, Inc | BBB | 3.75 | 08/15/29 | 6135000 | 5963343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | BBB | 5.55 | 08/15/35 | 4810000 | 4905057 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 3.38 | 04/15/29 | 5230000 | 5036409 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc | BBB | 3.75 | 04/15/27 | 6105000 | 6043424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | BBB | 4.50 | 08/15/29 | 8825000 | 8779571 |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc. | BBB | 2.70 | 06/15/31 | 10304000 | 9219451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | BBB+ | 4.02 | 12/03/29 | 5450000 | 5376642 |
|  |  |  |  |  | 61984991 |
|  Consumer, Cyclical (2.0%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. | BBB | 3.75 | 04/18/29 | 1795000 | 1755211 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. | BBB | 6.25 | 11/01/28 | 6195000 | 6567521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | BBB | 3.85 | 05/01/27 | 5280000 | 5236667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | BBB- | 2.70 | 08/10/26 | 5510000 | 5365127 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. | BBB | 5.75 | 02/08/31 | 10970000 | 11270957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp. | BBB | 5.00 | 06/15/27 | 3051000 | 3072532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | BBB+ | 4.50 | 04/15/30 | 5050000 | 5087201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers Finance Corp. | BBB | 4.88 | 03/15/27 | 6115000 | 6132819 |
|  |  |  |  |  | 44488035 |
|  Consumer, Non-cyclical (3.7%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | A- | 5.05 | 03/15/34 | 14690000 | 14958460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | BBB+ | 5.15 | 03/02/28 | 8125000 | 8300573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | BBB+ | 5.25 | 03/02/33 | 2800000 | 2867697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | BBB+ | 2.75 | 05/14/31 | 8115000 | 7343311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp | A- | 4.20 | 09/17/29 | 4125000 | 4079625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc | BBB | 4.80 | 01/15/29 | 7450000 | 7530273 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | BBB | 3.75 | 04/01/30 | 9660000 | 9265614 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | BBB | 5.40 | 06/01/29 | 2045000 | 2103565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 2.88 | 09/15/29 | 7245000 | 6824231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | A | 4.75 | 02/15/30 | 2725000 | 2757112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. | BBB | 4.80 | 09/15/29 | 8650000 | 8724197 |
| &nbsp;&nbsp;&nbsp;&nbsp; J M Smucker Co. | BBB | 6.20 | 11/15/33 | 7890000 | 8470812 |
|  |  |  |  |  | 83225470 |
|  Energy (4.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP | BBB | 4.50 | 10/01/29 | 6865000 | 6790489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | BBB | 5.15 | 01/30/30 | 10942000 | 11184412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.25 | 07/01/29 | 3400000 | 3484695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP | BBB | 5.55 | 02/15/28 | 7215000 | 7423894 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. | BBB- | 3.90 | 10/01/27 | 6693000 | 6602908 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.† | BBB- | 7.50 | 06/01/27 | 4200000 | 4281971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | BBB- | 4.30 | 04/01/27 | 2492000 | 2486856 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 4.50 | 10/01/30 | 3116000 | 3022581 |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 5.75 | 01/15/31 | 1800000 | 1843518 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Energy (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair Corp. | BBB- | 6.38 | 04/15/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6469000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6530577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | BBB | 5.10 | 08/01/29 | 10870000 | 11109784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | BB+ | 6.38 | 09/01/28 | 5300000 | 5512506 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | BBB | 4.40 | 10/15/29 | 2260000 | 2242724 |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc.† | BBB | 5.63 | 01/15/28 | 5510000 | 5630474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Resources Partners Finance Corp. | BBB | 5.50 | 03/01/30 | 3912000 | 3968488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Resources Partners Finance Corp. | BBB | 6.88 | 01/15/29 | 3125000 | 3188577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP | BBB- | 4.75 | 08/15/28 | 9150000 | 9153947 |
|  |  |  |  |  | 94458401 |
|  Financial (20.7%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc | BBB+ | 4.75 | 04/15/35 | 11253000 | 10774127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alleghany Corp. | AA | 3.63 | 05/15/30 | 4660000 | 4524893 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(3)(5) | A- | 5.39 | 07/28/27 | 6650000 | 6714826 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co.(3)(5) | A- | 5.53 | 04/25/30 | 10025000 | 10421475 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 2.90 | 01/15/30 | 4435000 | 4132322 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp | BBB | 5.80 | 11/15/28 | 5435000 | 5670800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon North America, Inc. | A- | 5.45 | 03/01/34 | 10845000 | 11140077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | BBB | 5.00 | 02/15/32 | 8245000 | 8355465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.(3)(5) | A- | 2.97 | 02/04/33 | 26230000 | 23483912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.(3)(5) | A | 5.06 | 07/22/32 | 6840000 | 6992204 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB | 4.88 | 11/17/25 | 5315000 | 5311403 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited, Inc. | BBB- | 5.13 | 06/11/30 | 6170000 | 6103031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC(3)(5) | BBB+ | 5.83 | 05/09/27 | 3000000 | 3030303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 3.25 | 01/30/31 | 6488000 | 5945130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 5.75 | 01/15/35 | 1465000 | 1473789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties LP | BBB | 6.50 | 01/15/34 | 3435000 | 3678758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | BBB- | 5.25 | 06/23/32 | 2880000 | 2935852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | BBB | 4.10 | 02/09/27 | 6685000 | 6654359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.(3)(5) | BBB | 4.93 | 05/10/28 | 4365000 | 4398539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB+ | 3.79 | 03/17/33 | 10865000 | 10137478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB+ | 3.98 | 03/20/30 | 4460000 | 4369711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB+ | 4.41 | 03/31/31 | 1000000 | 989089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.(3)(5) | BBB | 5.83 | 02/13/35 | 6620000 | 6748361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc.(3)(5) | BBB+ | 5.84 | 01/23/30 | 10653000 | 11029513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust LP | BBB | 5.55 | 01/15/28 | 7531000 | 7727263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. | BBB | 3.20 | 11/18/29 | 11880000 | 11271713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fairfax Financial Holdings Ltd | A- | 6.00 | 12/07/33 | 5010000 | 5228686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(3)(5) | BBB+ | 1.71 | 11/01/27 | 1000000 | 965427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(3)(5) | BBB+ | 4.90 | 09/06/30 | 3240000 | 3276234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp(3)(5) | BBB+ | 6.34 | 07/27/29 | 4762000 | 5014377 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Bank | BBB | 5.75 | 05/01/30 | 4800000 | 4911513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | BBB+ | 2.60 | 02/07/30 | 9000000 | 8319788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.(3)(5) | BBB+ | 5.33 | 07/23/35 | 12200000 | 12344901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts LP | BBB- | 5.70 | 07/01/34 | 8715000 | 8762306 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.00 | 07/22/30 | 7600000 | 7737759 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Financial (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.35 | 06/01/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4625000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4763203 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co.(3)(5) | A | 5.50 | 01/24/36 | 9765000 | 10061993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kemper Corp | BBB- | 3.80 | 02/23/32 | 4500000 | 4102531 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyBank N.A | BBB+ | 5.85 | 11/15/27 | 2000000 | 2064404 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | BBB | 2.25 | 04/06/27 | 3565000 | 3438255 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | BBB | 2.55 | 10/01/29 | 3800000 | 3507748 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp(3)(5) | BBB | 6.40 | 03/06/35 | 2000000 | 2133427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kilroy Realty LP | BBB- | 3.05 | 02/15/30 | 3500000 | 3166974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | BBB+ | 4.85 | 03/01/35 | 3850000 | 3768602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty OP LLC | BBB+ | 6.40 | 03/01/34 | 6800000 | 7398271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.† | BBB | 4.57 | 02/01/29 | 11473000 | 11485644 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp.(3)(5) | BBB+ | 4.55 | 08/16/28 | 1387000 | 1389278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co. | BBB+ | 3.40 | 08/17/27 | 3690000 | 3602460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co. | A- | 4.70 | 01/27/28 | 3450000 | 3480533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury General Corp. | BBB- | 4.40 | 03/15/27 | 3330000 | 3301019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 2.70 | 01/22/31 | 10000000 | 9216607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 5.17 | 01/16/30 | 1910000 | 1950248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley(3)(5) | A- | 5.45 | 07/20/29 | 10255000 | 10545234 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | BBB+ | 2.50 | 04/15/30 | 4835000 | 4408547 |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. | BBB+ | 3.60 | 12/15/26 | 3145000 | 3108758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Republic International Corp. | BBB+ | 3.88 | 08/26/26 | 4895000 | 4861488 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Bank N.A. | A- | 2.70 | 10/22/29 | 10500000 | 9775064 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(3)(5) | A- | 5.58 | 06/12/29 | 2060000 | 2133775 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.(3)(5) | A- | 6.88 | 10/20/34 | 3635000 | 4062085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis LP | A | 1.75 | 07/01/30 | 3906000 | 3431799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | A- | 4.85 | 03/15/30 | 1780000 | 1811767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | A- | 5.13 | 02/15/34 | 8865000 | 8967774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | BBB- | 3.70 | 08/04/26 | 11535000 | 11422924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.13 | 09/01/26 | 5800000 | 5692943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties LP | BBB- | 3.88 | 07/15/27 | 3500000 | 3451907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.(3)(5) | A- | 4.87 | 01/26/29 | 8055000 | 8146345 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(3)(5) | A | 4.65 | 02/01/29 | 13695000 | 13784801 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp(3)(5) | A | 5.78 | 06/12/29 | 2500000 | 2594678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc. | BBB+ | 3.65 | 06/15/26 | 4970000 | 4925030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 2.57 | 02/11/31 | 1000000 | 915618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 3.35 | 03/02/33 | 9115000 | 8327626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 3.53 | 03/24/28 | 6200000 | 6117993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.(3)(5) | BBB+ | 5.20 | 01/23/30 | 6595000 | 6752663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower OP LLC | A- | 2.75 | 01/15/31 | 7123000 | 6510125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp N.A. | BBB | 3.25 | 10/29/29 | 12030000 | 11081391 |
|  |  |  |  |  | 462236916 |
|  Industrial (3.8%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp | BBB+ | 2.80 | 02/15/30 | 9520000 | 8931643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. | BBB- | 5.15 | 08/21/29 | 8845000 | 8989894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boeing Co. | BBB- | 3.20 | 03/01/29 | 12077000 | 11498171 |
| &nbsp;&nbsp;&nbsp;&nbsp; CH Robinson Worldwide, Inc | BBB | 4.20 | 04/15/28 | 5575000 | 5544525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flex Ltd. | BBB- | 4.88 | 06/15/29 | 1478000 | 1487744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | BBB- | 3.48 | 12/01/27 | 4613000 | 4516502 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Rating\*\*** | **Rate(%)** | **Maturity** | **Face Amount** | **Value** |
|  **LONG-TERM DEBT SECURITIES (Continued):** |  |  |  |  |  |
|  Corporate Debt (Continued) |  |  |  |  |  |
|  Industrial (Continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. | BBB- | 3.00 | 01/15/31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3648029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. | BBB- | 3.95 | 01/12/28 | 2910000 | 2879623 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | BBB | 5.40 | 01/15/27 | 6840000 | 6955945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennox International, Inc. | BBB | 1.70 | 08/01/27 | 4935000 | 4659830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | BBB | 5.13 | 11/19/31 | 7715000 | 7944964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. | BBB | 2.75 | 04/01/31 | 6725000 | 6102575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Co. | BBB+ | 4.95 | 12/01/29 | 11330000 | 11546134 |
|  |  |  |  |  | 84705579 |
|  Technology (2.4%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc. | BBB+ | 5.30 | 06/15/35 | 970000 | 986229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc | BBB+ | 5.05 | 07/12/29 | 10805000 | 11064851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.55 | 10/15/29 | 7100000 | 7065126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | BBB | 4.85 | 10/15/31 | 3615000 | 3599843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp | BBB | 5.20 | 02/10/33 | 6570000 | 6625422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyndryl Holdings., Inc. | BBB- | 2.05 | 10/15/26 | 2500000 | 2422675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | BBB | 4.90 | 03/15/28 | 4825000 | 4881455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | BBB+ | 5.10 | 04/15/30 | 9140000 | 9359266 |
| &nbsp;&nbsp;&nbsp;&nbsp; VMware LLC | BBB+ | 1.40 | 08/15/26 | 6860000 | 6637383 |
|  |  |  |  |  | 52642250 |
|  Utilities (3.3%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | BBB | 5.20 | 01/15/29 | 11429000 | 11723671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | BBB+ | 3.05 | 10/15/29 | 4855000 | 4545576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | A | 2.30 | 12/01/31 | 10799000 | 9459091 |
| &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co | BBB | 5.10 | 03/01/29 | 10596000 | 10809207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC | A | 4.85 | 01/15/34 | 11017000 | 11000177 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. | BBB+ | 3.55 | 05/01/27 | 6722000 | 6634999 |
| &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | BBB+ | 5.20 | 07/01/29 | 10740000 | 11026148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Co. | BBB+ | 5.70 | 03/15/34 | 8560000 | 8948176 |
|  |  |  |  |  | 74147045 |
|  Total Corporate Debt |  |  |  |  | 979146763 |
|  Sovereign Debt (–%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sri Lanka AID | NR | 6.59 | 09/15/28 | 1117460 | 1142803‡ |
|  Total Long-Term Debt Securities<br>(Cost: $2,311,865,328) |  |  |  |  | 2204929151 |
|  **SHORT-TERM DEBT SECURITIES (0.2%):** |  |  |  |  |  |
|  Commercial Paper (0.2%) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | A-1+ | 4.33 | 07/01/25 | 5000000 | 5000000 |
|  Total Short-Term Debt Securities<br>(Cost: $5,000,000) |  |  |  |  | 5000000 |

---

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS — CORE BOND FUND

#### PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)

#### June 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Rate(%)** | **Face Amount** | **Value** |
|  **TEMPORARY CASH INVESTMENT (0.0%)(6)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash Management, Institutional Shares | 4.11 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50958 | $50958 |
|  Total Temporary Cash Investment<br>(Cost: $50,958) |  |  | 50958 |
|  Total Investments<br>(Cost: $2,316,916,286) 98.9% |  |  | 2209980109 |
|  Other Net Assets 1.1% |  |  | 24036941 |
|  Net Assets 100.0% |  |  | $2234017050 |

---

#### FOOTNOTES TO PORTFOLIO OF INVESTMENTS IN SECURITIES
Abbreviations:

---

| | |
|:---|:---|
| ARM = | Adjustable Rate Mortgage |
| FFCB = | Federal Farm Credit Bank Funding Corporation |
| FHLB = | Federal Home Loan Bank |
| FHLMC = | Federal Home Loan Mortgage Corporation |
| FNMA = | Federal National Mortgage Association |
| FRESB = | Federal Home Loan Mortgage Corporation Multifamily Securitization Small Loan Balance |
| GNMA = | Government National Mortgage Association |
| RFUCCT1Y = | Twelve month FTSE USD IBOR Consumer Cash Fallback |
| SOFR = | Secured overnight financing rate |
| SOFR30A = | 30-day Average SOFR (Secured overnight financing rate) |
| NR = | Not Rated |

---

\*\* Ratings as per Standard & Poor's Corporation (unaudited).

† Security is 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 June 30, 2025, the aggregate values of these securities amounts to $38,759,727 and represents 1.7% of net assets.

‡ Level 3 Security.

(1) Zero Coupon.

(2) Floating Rate Note.

(3) Variable Rate; rate shown is effective rate at period-end. The rates for certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and based on current market conditions.

(4) U.S. Government guaranteed security

(5) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating.

(6) Percentage is less than 0.05%.

The accompanying notes are an integral part of these portfolio schedules.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES

#### As of June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity<br>Index Fund** | **MoA All<br>America Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index<br>Fund** |
|  ASSETS |  |  |  |  |  |
|  Investments, at fair value: |  |  |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $— | $— | $— | $— | $— |
|  Unaffiliated investments (a) (Notes 2 and 4) | 5895645613 | 295958748 | 374798128 | 395499404 | 173500890 |
|  Cash | 395307 | 71586 | 55357 | 8 | 20048 |
|  Foreign cash (b) |  |  |  |  |  |
|  Interest and dividends receivable | 2932534 | 199270 | 549043 | 337563 | 198119 |
|  Receivable for securities sold | 611119 | 2431534 | 539773 | 4208282 | 2089681 |
|  Receivable for daily variation on future contracts | 285911 | 10328 |  |  |  |
|  Shareholder subscription receivable | 2519807 | 2095 | 129862 | 158395 | 157273 |
|  Due from the Adviser |  |  |  |  |  |
|  Other receivables | 784 |  |  |  | 2652 |
|  Total Assets | 5902391075 | 298673561 | 376072163 | 400203652 | 175968663 |
|  LIABILITIES |  |  |  |  |  |
|  Due to custodian bank |  |  |  |  |  |
|  Payable for securities purchased |  | 534664 | 2015450 | 1056201 | 2113472 |
|  Payable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder redemptions payable | 298750 | 28432 | 94582 | 32485 | 20567 |
|  Payable to the Adviser | 456936 | 101194 | 234660 | 247404 | 4748 |
|  Dividends payable |  |  |  |  |  |
|  Accrued expenses | 403600 | 65993 | 52119 | 53387 | 53428 |
|  Total Liabilities | 1159286 | 730283 | 2396811 | 1389477 | 2192215 |
|  NET ASSETS | $5901231789 | $297943278 | $373675352 | $398814175 | $173776448 |
|  Number of Shares Outstanding (Note 5) | 83913729 | 12515892 | 27077745 | 29358123 | 17442634 |
|  Net Asset Value Per Share Redemption Price Per Share | $70.32 | $23.81 | $13.80 | $13.58 | $9.96 |
|  COMPONENTS OF NET ASSETS |  |  |  |  |  |
|  Paid-in capital | $2406428959 | $180924515 | $317133866 | $331453797 | $165215502 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | 3494802830 | 117018763 | 56541486 | 67360378 | 8560946 |
|  NET ASSETS | $5901231789 | $297943278 | $373675352 | $398814175 | $173776448 |
| (a) Investments at cost: |  |  |  |  |  |
|  Affiliated investments | $— | $— | $— | $— | $— |
|  Unaffiliated investments | $2714807556 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203675559 | $325244418 | $325291455 | $163208067 |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— | $— | $— |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES (Continued)

#### As of June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid Cap<br>Equity Index<br>Fund** | **MoA Balanced<br>Fund** | **MoA<br>International<br>Fund** | **MoA Catholic<br>Values Index<br>Fund** |
|  ASSETS |  |  |  |  |  |
|  Investments, at fair value: |  |  |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $— | $— | $— | $— | $— |
|  Unaffiliated investments (a) (Notes 2 and 4) | 187227438 | 1437880954 | 200928700 | 1989987797 | 8311360 |
|  Cash | 19741 | 64996 | 12833 | 186802 |  |
|  Foreign cash (b) |  |  |  | 19802961 |  |
|  Interest and dividends receivable | 175440 | 1389517 | 724717 | 9808879 | 4501 |
|  Receivable for securities sold | 1029393 | 8165871 | 1040816 |  | 1018 |
|  Receivable for daily variation on future contracts |  |  |  | 9520 |  |
|  Shareholder subscription receivable | 146947 | 620117 | 7966 | 1470684 | 12304 |
|  Due from the Adviser |  |  |  |  | 13760 |
|  Other receivables |  |  |  |  | 1636 |
|  Total Assets | 188598959 | 1448121455 | 202715032 | 2021266643 | 8344579 |
|  LIABILITIES |  |  |  |  |  |
|  Due to custodian bank |  |  |  |  | 216 |
|  Payable for securities purchased | 664320 |  | 680335 |  | 903 |
|  Payable for daily variation on future contracts |  | 17816 |  |  |  |
|  Shareholder redemptions payable | 41153 | 171351 | 47316 | 112818 | 219 |
|  Payable to the Adviser | 87306 | 113431 | 68495 | 441415 |  |
|  Dividends payable |  |  |  |  |  |
|  Accrued expenses | 44863 | 154500 | 56689 | 85496 | 41620 |
|  Total Liabilities | 837642 | 457098 | 852835 | 639729 | 42958 |
|  NET ASSETS | $187761317 | $1447664357 | $201862197 | $2020626914 | $8301621 |
|  Number of Shares Outstanding (Note 5) | 11164069 | 69650240 | 9250460 | 200034782 | 489520 |
|  Net Asset Value Per Share Redemption Price Per Share | $16.82 | $20.78 | $21.82 | $10.10 | $16.96 |
|  COMPONENTS OF NET ASSETS |  |  |  |  |  |
|  Paid-in capital | $158964160 | $1129348996 | $131701783 | $1636070832 | $5575484 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | 28797157 | 318315361 | 70160414 | 384556082 | 2726137 |
|  NET ASSETS | $187761317 | $1447664357 | $201862197 | $2020626914 | $8301621 |
| (a) Investments at cost: |  |  |  |  |  |
|  Affiliated investments | $— | $— | $— | $— | $— |
|  Unaffiliated investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172410257 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169003188 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145612751 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536807655 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5793630 |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— | $19609854 | $— |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES (Continued)

#### As of June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Retirement<br>Income Fund** | **MoA Clear<br>Passage 2020<br>Fund** | **MoA Clear<br>Passage 2025<br>Fund** | **MoA Clear<br>Passage 2030<br>Fund** | **MoA Clear<br>Passage 2035<br>Fund** |
|  ASSETS |  |  |  |  |  |
|  Investments, at fair value: |  |  |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $302988392 | $432854323 | $1079679787 | $1448844404 | $1464880212 |
|  Unaffiliated investments (a) (Notes 2 and 4) |  |  |  |  |  |
|  Cash |  |  |  |  |  |
|  Foreign cash (b) |  |  |  |  |  |
|  Interest and dividends receivable |  |  |  |  |  |
|  Receivable for securities sold |  | 124928 | 119884 |  |  |
|  Receivable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder subscription receivable | 72956 | 31172 | 222598 | 709730 | 848196 |
|  Due from the Adviser |  |  |  |  |  |
|  Other receivables | 11348 | 5906 | 1221 | 5166 | 6373 |
|  Total Assets | 303072696 | 433016329 | 1080023490 | 1449559300 | 1465734781 |
|  LIABILITIES |  |  |  |  |  |
|  Due to custodian bank |  |  |  |  |  |
|  Payable for securities purchased | 17345 |  |  | 632018 | 770091 |
|  Payable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder redemptions payable | 55611 | 156100 | 342482 | 77712 | 78105 |
|  Payable to the Adviser | 17785 | 25477 | 63019 | 83902 | 85019 |
|  Dividends payable |  |  |  |  |  |
|  Accrued expenses | 75441 | 82197 | 156337 | 194266 | 195062 |
|  Total Liabilities | 166182 | 263774 | 561838 | 987898 | 1128277 |
|  NET ASSETS | $302906514 | $432752555 | $1079461652 | $1448571402 | $1464606504 |
|  Number of Shares Outstanding (Note 5) | 26288418 | 40212524 | 85423942 | 102897187 | 98333521 |
|  Net Asset Value Per Share Redemption Price Per Share | $11.52 | $10.76 | $12.64 | $14.08 | $14.89 |
|  COMPONENTS OF NET ASSETS |  |  |  |  |  |
|  Paid-in capital | $304226367 | $424649008 | $1015469155 | $1300732077 | $1275490191 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | (1319853) | 8103547 | 63992497 | 147839325 | 189116313 |
|  NET ASSETS | $302906514 | $432752555 | $1079461652 | $1448571402 | $1464606504 |
| (a) Investments at cost: |  |  |  |  |  |
|  Affiliated investments | $289771501 | $414193887 | $1007177842 | $1324545812 | $1319730697 |
|  Unaffiliated investments | $— | $— | $— | $— | $— |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— | $— | $— |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES (Continued)

#### As of June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear**<br>**Passage 2040**<br>**Fund** | **MoA Clear**<br>**Passage 2045**<br>**Fund** | **MoA Clear**<br>**Passage 2050**<br>**Fund** | **MoA Clear**<br>**Passage 2055**<br>**Fund** | **MoA Clear**<br>**Passage 2060**<br>**Fund** |
|  ASSETS |  |  |  |  |  |
|  Investments, at fair value: |  |  |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $1271669653 | $1308076923 | $1030208551 | $607488530 | $350045593 |
|  Unaffiliated investments (a) (Notes 2 and 4) |  |  |  |  |  |
|  Cash |  |  |  |  |  |
|  Foreign cash (b) |  |  |  |  |  |
|  Interest and dividends receivable |  |  |  |  |  |
|  Receivable for securities sold |  |  |  |  |  |
|  Receivable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder subscription receivable | 763608 | 787271 | 683790 | 977397 | 555156 |
|  Due from the Adviser |  |  |  |  |  |
|  Other receivables | 5096 | 4006 | 847 | 8360 | 6236 |
|  Total Assets | 1272438357 | 1308868200 | 1030893188 | 608474287 | 350606985 |
|  LIABILITIES |  |  |  |  |  |
|  Due to custodian bank |  |  |  |  |  |
|  Payable for securities purchased | 670740 | 771063 | 476696 | 947331 | 507871 |
|  Payable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder redemptions payable | 92868 | 16208 | 207095 | 30066 | 47285 |
|  Payable to the Adviser | 73584 | 75707 | 59574 | 35017 | 20165 |
|  Dividends payable |  |  |  |  |  |
|  Accrued expenses | 170845 | 175043 | 147246 | 99886 | 71840 |
|  Total Liabilities | 1008037 | 1038021 | 890611 | 1112300 | 647161 |
|  NET ASSETS | $1271430320 | $1307830179 | $1030002577 | $607361987 | $349959824 |
|  Number of Shares Outstanding (Note 5) | 83832231 | 86949748 | 52571683 | 38412983 | 25706711 |
|  Net Asset Value Per Share Redemption Price Per Share | $15.17 | $15.04 | $19.59 | $15.81 | $13.61 |
|  COMPONENTS OF NET ASSETS |  |  |  |  |  |
|  Paid-in capital | $1082231187 | $1096359541 | $856103485 | $512056734 | $298092487 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | 189199133 | 211470638 | 173899092 | 95305253 | 51867337 |
|  NET ASSETS | $1271430320 | $1307830179 | $1030002577 | $607361987 | $349959824 |
| (a) Investments at cost: |  |  |  |  |  |
|  Affiliated investments | $1132955781 | $1160712068 | $910177872 | $537205958 | $308174634 |
|  Unaffiliated investments | $— | $— | $— | $— | $— |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— | $— | $— |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES (Continued)

#### As of June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2065<br>Fund** | **MoA Clear<br>Passage 2070<br>Fund†** | **MoA<br>Conservative<br>Allocation Fund** | **MoA Moderate<br>Allocation Fund** | **MoA<br>Aggressive<br>Allocation Fund** |
|  ASSETS |  |  |  |  |  |
|  Investments, at fair value: |  |  |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $152027401 | $1700723 | $149430986 | $393490918 | $333854902 |
|  Unaffiliated investments (a) (Notes 2 and 4) |  |  |  |  |  |
|  Cash |  |  |  |  |  |
|  Foreign cash (b) |  |  |  |  |  |
|  Interest and dividends receivable |  |  |  |  |  |
|  Receivable for securities sold |  |  | 27223 |  |  |
|  Receivable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder subscription receivable | 363710 | 255567 | 21718 | 53123 | 39448 |
|  Due from the Adviser |  | 16927 |  |  |  |
|  Other receivables | 3597 |  |  |  |  |
|  Total Assets | 152394708 | 1973217 | 149479927 | 393544041 | 333894350 |
|  LIABILITIES |  |  |  |  |  |
|  Due to custodian bank |  |  |  |  |  |
|  Payable for securities purchased | 230643 | 255562 |  | 53121 | 38775 |
|  Payable for daily variation on future contracts |  |  |  |  |  |
|  Shareholder redemptions payable | 133067 | 5 | 48941 | 2 | 673 |
|  Payable to the Adviser | 8720 |  | 2676 | 7017 | 5927 |
|  Dividends payable |  |  |  |  |  |
|  Accrued expenses | 48854 | 31460 | 38284 | 46632 | 43593 |
|  Total Liabilities | 421284 | 287027 | 89901 | 106772 | 88968 |
|  NET ASSETS | $151973424 | $1686190 | $149390026 | $393437269 | $333805382 |
|  Number of Shares Outstanding (Note 5) | 10776194 | 155570 | 12579226 | 27611012 | 21044752 |
|  Net Asset Value Per Share Redemption Price Per Share | $14.10 | $10.84 | $11.88 | $14.25 | $15.86 |
|  COMPONENTS OF NET ASSETS |  |  |  |  |  |
|  Paid-in capital | $131389618 | $1598097 | $146106931 | $344736667 | $279951196 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | 20583806 | 88093 | 3283095 | 48700602 | 53854186 |
|  NET ASSETS | $151973424 | $1686190 | $149390026 | $393437269 | $333805382 |
| (a) Investments at cost: |  |  |  |  |  |
|  Affiliated investments | $135723713 | $1612457 | $145284704 | $356743803 | $294023109 |
|  Unaffiliated investments | $— | $— | $— | $— | $— |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— | $— | $— |

---

† Fund commenced operations on May 2, 2025.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF ASSETS AND LIABILITIES (Continued)

#### As of June 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **MoA US<br>Government<br>Money Market<br>Fund** | **MoA<br>Intermediate<br>Bond Fund** | **MoA Core Bond<br>Fund** |
|  ASSETS |  |  |  |
|  Investments, at fair value: |  |  |  |
|  Affiliated investments (a) (Notes 2 and 4) | $— | $— | $— |
|  Unaffiliated investments (a) (Notes 2 and 4) | 533456658 | 883805987 | 2209980109 |
|  Cash | 84 |  | 40 |
|  Foreign cash (b) |  |  |  |
|  Interest and dividends receivable | 684 | 9607939 | 20286689 |
|  Receivable for securities sold |  |  | 5612958 |
|  Receivable for daily variation on future contracts |  |  |  |
|  Shareholder subscription receivable | 129662 | 326629 | 866382 |
|  Due from the Adviser |  |  |  |
|  Other receivables |  |  |  |
|  Total Assets | 533587088 | 893740555 | 2236746178 |
|  LIABILITIES |  |  |  |
|  Due to custodian bank |  | 94 |  |
|  Payable for securities purchased |  | 718658 | 1643364 |
|  Payable for daily variation on future contracts |  |  |  |
|  Shareholder redemptions payable | 3751241 | 622066 | 215975 |
|  Payable to the Adviser | 74991 | 308762 | 750673 |
|  Dividends payable |  |  |  |
|  Accrued expenses | 52482 | 64341 | 119116 |
|  Total Liabilities | 3878714 | 1713921 | 2729128 |
|  NET ASSETS | $529708374 | $892026634 | $2234017050 |
|  Number of Shares Outstanding (Note 5) | 529707559 | 91298944 | 180043877 |
|  Net Asset Value Per Share Redemption Price Per Share | $1.00 | $9.77 | $12.41 |
|  COMPONENTS OF NET ASSETS |  |  |  |
|  Paid-in capital | $529360215 | $945078190 | $2479499288 |
|  Total Distributable Earnings (Loss) (Notes 2 and 6) | 348159 | (53051556) | (245482238) |
|  NET ASSETS | $529708374 | $892026634 | $2234017050 |
| (a) Investments at cost: |  |  |  |
|  Affiliated investments | $— | $— | $— |
|  Unaffiliated investments | $533456658 | $881522020 | $2316916286 |
| (b) Foreign cash, at cost, translated to US Dollars | $— | $— | $— |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity<br>Index Fund** | **MoA All<br>America Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index<br>Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income | 37109201 (a) | 1963935 (a) | 4018081 (a) | 1157345 (a) | 1630090 (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 1296851 | 117062 | 95566 | 99555 | 6 |
|  Total investment income | 38406052 | 2080997 | 4113647 | 1256900 | 1630096 |
|  Expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 2091420 | 581081 | 1387190 | 1404483 | 70286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 836568 | 43581 | 55488 | 56179 | 28114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 281695 | 33401 | 20999 | 21846 | 28056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 70870 | 3879 | 5153 | 5117 | 2717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees | 356 | 94 | 250 | 21 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 35286 | 6506 | 6834 | 7685 | 11757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 16494 | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 24352 | 23089 | 23089 | 23088 | 24352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 16824 | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses | 457881 | 30386 | 6748 | 6824 | 19544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 12435 | 12799 | 11839 | 11515 | 5781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 44320 | 13376 | 13769 | 13754 | 12700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 960513 | 156848 | 121999 | 123168 | 138232 |
|  Total expenses before waiver/reimbursement | 3888501 | 781510 | 1564677 | 1583830 | 236632 |
|  Fee waiver and expense reimbursement (Note 3) | (223085) | (11622) | (14797) | (14981) | (97870) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 3665416 | 769888 | 1549880 | 1568849 | 138762 |
|  Net Investment Income (Loss) | 34740636 | 1311109 | 2563767 | (311949) | 1491334 |
|  Net Realized and Unrealized Gain (Loss) on Investments, Futures Contracts and Foreign Currency Translations (Note 2) |  |  |  |  |  |
|  Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities | 200025700 | 14391473 | 4553523 | (2887046) | (995589) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) | (1738097) | 57184 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  | (263) |  |  |  |
|  | 198287603 | 14448394 | 4553523 | (2887046) | (995589) |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities | 100468164 | (5727570) | (22675322) | 199390 | (10571389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) | 3858067 | 132370 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  | 353 | 567 | 517 |  |
|  | 104326231 | (5594847) | (22674755) | 199907 | (10571389) |
|  Net Realized and Unrealized Gain (Loss) on Investments, Futures Contracts and Foreign Currency Translations | 302613834 | 8853547 | (18121232) | (2687139) | (11566978) |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $337354470 | $10164656 | $(15557465) | $(2999088) | $(10075644) |

---

(a) Net of foreign taxes as follows:

---

| | |
|:---|:---|
|  MoA Equity Index Fund | $6546 |
|  MoA All America Fund | $742 |
|  MoA Small Cap Value Fund | $3119 |
|  MoA Small Cap Growth Fund | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841 |
|  MoA Small Cap Equity Index Fund | $1761 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS (Continued)

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid<br>Cap Equity<br>Index Fund** | **MoA Balanced<br>Fund** | **MoA<br>International<br>Fund** | **MoA Catholic<br>Values Index<br>Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income | 1926111 | 11676439 (a) | 846115 | 37366673 (a) | 49270 (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 64505 | 280405 | 1767982 | 741080 | 12 |
|  Total investment income | 1990616 | 11956844 | 2614097 | 38107753 | 49282 |
|  Expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 541269 | 539257 | 389608 | 3613626 | 5601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 29523 | 215703 | 29221 | 271022 | 1120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 14393 | 84962 | 28082 | 133328 | 8724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 2762 | 19942 | 2436 | 19874 | 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees | 17 | 72 | 52 | 599 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 5834 | 18340 | 5474 | 16044 | 4362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 16494 | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 23092 | 24352 | 23688 | 24637 | 22165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 16824 | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses | 3017 | 185241 | 16688 | 16435 | 7550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 10847 | 11988 | 11184 | 13354 | 4344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 17526 | 20810 | 14764 | 37736 | 11785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 110806 | 399025 | 135686 | 295325 | 92339 |
|  Total expenses before waiver/reimbursement | 681598 | 1153985 | 554515 | 4179973 | 99060 |
|  Fee waiver and expense reimbursement (Note 3) | (7873) | (57520) | (7792) | (1427552) | (90715) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 673725 | 1096465 | 546723 | 2752421 | 8345 |
|  Net Investment Income (Loss) | 1316891 | 10860379 | 2067374 | 35355332 | 40937 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency Translations (Note 2) |  |  |  |  |  |
|  Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities | 9627165 | 43439143 | 10015557 | 21802282 | 194428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  | (1317759) |  | 1922221 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  | 761426 |  |
|  | 9627165 | 42121384 | 10015557 | 24485929 | 194428 |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities | (13498915) | (56119512) | 3952588 | 326689526 | 301414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  | 867198 |  | 811828 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  | 1069799 |  |
|  | (13498915) | (55252314) | 3952588 | 328571153 | 301414 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign Currency Translations | (3871750) | (13130930) | 13968145 | 353057082 | 495842 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2554859) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2270551) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16035519 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388412414 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536779 |

---

(a) Net of foreign taxes as follows:

---

| | |
|:---|:---|
|  MoA Mid Cap Equity Index Fund | $9025 |
|  MoA International Fund | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4658816 |
|  MoA Catholic Values Index Fund | $162 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS (Continued)

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA**<br>**Retirement**<br>**Income Fund** | **MoA Clear**<br>**Passage 2020**<br>**Fund** | **MoA Clear**<br>**Passage 2025**<br>**Fund** | **MoA Clear**<br>**Passage 2030**<br>**Fund** | **MoA Clear**<br>**Passage 2035**<br>**Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $3625520 | $6099290 | $13972803 | $17106857 | $16200372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income |  | 118 | 320 | 400 | 404 |
|  Total investment income | 3625520 | 6099408 | 13973123 | 17107257 | 16200776 |
|  Expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 58600 | 109472 | 265565 | 345618 | 347248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 35160 | 65683 | 159339 | 207371 | 208349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 17737 | 31100 | 66362 | 84202 | 84329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 2530 | 5597 | 13472 | 17025 | 16989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees | 117201 | 218944 | 531131 | 691236 | 694496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 12193 | 13007 | 18962 | 21113 | 21300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 16494 | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 19124 | 19070 | 19070 | 19070 | 19070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 16824 | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 7522 | 8136 | 14574 | 14794 | 16762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 13428 | 14370 | 18249 | 24966 | 31108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 223053 | 343542 | 715138 | 905724 | 917372 |
|  Total expenses before waiver/reimbursement | 316813 | 518697 | 1140042 | 1458713 | 1472969 |
|  Fee waiver and expense reimbursement (Note 3) | (9376) | (17515) | (42491) | (55299) | (55560) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 307437 | 501182 | 1097551 | 1403414 | 1417409 |
|  Net Investment Income (Loss) | 3318083 | 5598226 | 12875572 | 15703843 | 14783367 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency Translations (Note 2) |  |  |  |  |  |
|  Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | (2488293) | (1150643) | 492598 | 7619294 | 7537460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | (2488293) | (1150643) | 492598 | 7619294 | 7537460 |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | 12432228 | 17874133 | 48882855 | 64187751 | 73498832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | 12432228 | 17874133 | 48882855 | 64187751 | 73498832 |
|  Net Realized and Unrealized Gain (Loss) on Investments, Futures Contracts and Foreign Currency Translations | 9943935 | 16723490 | 49375453 | 71807045 | 81036292 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13262018 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22321716 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62251025 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87510888 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95819659 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS (Continued)

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear**<br>**Passage 2040**<br>**Fund** | **MoA Clear**<br>**Passage 2045**<br>**Fund** | **MoA Clear**<br>**Passage 2050**<br>**Fund** | **MoA Clear**<br>**Passage 2055**<br>**Fund** | **MoA Clear**<br>**Passage 2060**<br>**Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $13320180 | $13191675 | $9968012 | $5780828 | $3296539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 333 | 346 | 292 | 146 | 70 |
|  Total investment income | 13320513 | 13192021 | 9968304 | 5780974 | 3296609 |
|  Expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 299158 | 307556 | 242268 | 141196 | 80029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 179496 | 184533 | 145361 | 84717 | 48017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 73399 | 75380 | 60782 | 38017 | 24385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 14545 | 15010 | 11908 | 6804 | 3776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees | 598319 | 615112 | 484537 | 282391 | 160058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 20453 | 21058 | 20315 | 18823 | 17392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 16494 | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 19070 | 19070 | 19070 | 19070 | 19070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 16824 | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 14301 | 14650 | 16730 | 12073 | 8907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 29770 | 29136 | 25624 | 22042 | 19016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 803175 | 822734 | 672284 | 432538 | 285922 |
|  Total expenses before waiver/reimbursement | 1281829 | 1314823 | 1059913 | 658451 | 413968 |
|  Fee waiver and expense reimbursement (Note 3) | (47865) | (49209) | (38763) | (22591) | (12805) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 1233964 | 1265614 | 1021150 | 635860 | 401163 |
|  Net Investment Income (Loss) | 12086549 | 11926407 | 8947154 | 5145114 | 2895446 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency Translations (Note 2) |  |  |  |  |  |
|  Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | 10160609 | 15792471 | 12891409 | 3890135 | (149158) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | 10160609 | 15792471 | 12891409 | 3890135 | (149158) |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | 68570640 | 68566475 | 54531980 | 36513173 | 23815262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | 68570640 | 68566475 | 54531980 | 36513173 | 23815262 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign Currency Translations | 78731249 | 84358946 | 67423389 | 40403308 | 23666104 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90817798 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96285353 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76370543 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45548422 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26561550 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS (Continued)

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2065<br>Fund** | **MoA Clear<br>Passage 2070<br>Fund(a)** | **MoA<br>Conservative<br>Allocation<br>Fund** | **MoA<br>Moderate<br>Allocation<br>Fund** | **MoA<br>Aggressive<br>Allocation<br>Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $1388012 | $10170 | $2059313 | $4698127 | $3206141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 102 |  |  | 5 | 10 |
|  Total investment income | 1388114 | 10170 | 2059313 | 4698132 | 3206151 |
|  Expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 33139 | 90 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 19883 | 54 | 22188 | 57568 | 48392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 13652 | 2561 | 12390 | 25342 | 22554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 1443 | 12 | 1873 | 4882 | 4178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees | 66278 | 181 | 14 | 165 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 14122 | 4363 | 5141 | 6328 | 6369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 6287 | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 19070 | 8616 | 19124 | 19124 | 19124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 5539 | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 9774 | 3218 | 11714 | 13030 | 12543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 16929 | 3833 | 12333 | 14146 | 13754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 174586 | 34610 | 95907 | 116335 | 112045 |
|  Total expenses before waiver/reimbursement | 227608 | 34754 | 118095 | 173903 | 160437 |
|  Fee waiver and expense reimbursement (Note 3) | (5302) | (34338) | (5917) | (15351) | (12905) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 222306 | 416 | 112178 | 158552 | 147532 |
|  Net Investment Income (Loss) | 1165808 | 9754 | 1947135 | 4539580 | 3058619 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency Translations (Note 2) |  |  |  |  |  |
|  Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | 1121541 | 4 | 983723 | 5017788 | 4033616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | 1121541 | 4 | 983723 | 5017788 | 4033616 |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) | 8801854 | 88266 | 4654476 | 17683838 | 14326320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |  |  |
|  | 8801854 | 88266 | 4654476 | 17683838 | 14326320 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign Currency Translations | 9923395 | 88270 | 5638199 | 22701626 | 18359936 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11089203 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98024 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7585334 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27241206 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21418555 |

---

(a) For the period May 2, 2025 (commencement of operations) to June 30, 2025.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF OPERATIONS (Continued)

#### For the Six Months Ended June 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **MoA US<br>Government<br>Money Market<br>Fund** | **MoA<br>Intermediate<br>Bond Fund** | **MoA Core<br>Bond Fund** |
|  INVESTMENT INCOME AND EXPENSES |  |  |  |
|  Investment Income: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated dividend income (Notes 2 and 4) | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income | 684 | 1341 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 11276805 | 19516652 | 50158916 |
|  Total investment income | 11277489 | 19517993 | 50160087 |
|  Expenses |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees (Note 3) | 391676 | 1758879 | 4337783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fee (Note 3) | 78335 | 131916 | 333676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custody and Fund administration expenses | 26914 | 52731 | 145260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders reports | 5959 | 10770 | 26616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder service fees |  | 92 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees | 10545 | 8294 | 14228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent directors' fees and expenses | 16494 | 16494 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit and Tax Expense | 21796 | 26165 | 26165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal | 16824 | 16824 | 16824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Licenses | 1017 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 13419 | 9995 | 13863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 10854 | 24210 | 51008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 123822 | 165575 | 310495 |
|  Total expenses before waiver/reimbursement | 593833 | 2056370 | 4981954 |
|  Fee waiver and expense reimbursement (Note 3) | (20890) | (35178) | (88980) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 572943 | 2021192 | 4892974 |
|  Net Investment Income (Loss) | 10704546 | 17496801 | 45267113 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency Translations (Note 2) |  |  |  |
|  Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities | 344 | (3037996) | (2799119) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |
|  | 344 | (3037996) | (2799119) |
|  Change in net unrealized appreciation (depreciation) of: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Investment securities (Notes 2 and 4) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Investment securities |  | 20150618 | 48817596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts (Note 2) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation |  |  |  |
|  |  | 20150618 | 48817596 |
|  Net Realized and Unrealized Gain (Loss) on |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments, Futures Contracts and Foreign Currency Translations | 344 | 17112622 | 46018477 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10704890 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34609423 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91285590 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Equity Index Fund** | **MoA Equity Index Fund** | **MoA All America Fund** | **MoA All America Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $34740636 | $72253681 | $1311109 | $2998435 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 198287603 | 512642315 | 14448394 | 38275380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 104326231 | 656949610 | (5594847) | 12512028 |
|  | 302613834 | 1169591925 | 8853547 | 50787408 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 337354470 | 1241845606 | 10164656 | 53785843 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (33595727) | (504522692) | (1220870) | (33338493) |
|  Net Increase (Decrease) in Net Assets from Distributions | (33595727) | (504522692) | (1220870) | (33338493) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 252053334 | 538969151 | 1861406 | 5184267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 33594656 | 504506272 | 1220645 | 33321942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (556136897) | (1113425088) | (22726304) | (49455022) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (270488907) | (69949665) | (19644253) | (10948813) |
|  Total Increase (Decrease) in Net Assets | 33269836 | 667373249 | (10700467) | 9498537 |
|  Net Assets, Beginning of Period | 5867961953 | 5200588704 | 308643745 | 299145208 |
|  Net Assets, End of Period | $5901231789 | $5867961953 | $297943278 | $308643745 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 88017819 | 89220905 | 13384323 | 13864620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 3865443 | 8137426 | 82191 | 221899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 492085 | 7372740 | 52478 | 1390847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (8461618) | (16713252) | (1003100) | (2093043) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (4104090) | (1203086) | (868431) | (480297) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 83913729 | 88017819 | 12515892 | 13384323 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $2563749 | $5254063 | $(311955) | $(757916) |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 4553541 | 22265194 | (2887040) | 19141684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | (22674755) | 13934625 | 199907 | 19798940 |
|  | (18121214) | 36199819 | (2687133) | 38940624 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | (15557465) | 41453882 | (2999088) | 38182708 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (2241458) | (23218555) |  | (6326238) |
|  Net Increase (Decrease) in Net Assets from Distributions | (2241458) | (23218555) |  | (6326238) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 25714015 | 29588205 | 38052042 | 23513635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 2241324 | 23217127 |  | 6326238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (34180994) | (82717265) | (33930183) | (80094663) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (6225655) | (29911933) | 4121859 | (50254790) |
|  Total Increase (Decrease) in Net Assets | (24024578) | (11676606) | 1122771 | (18398320) |
|  Net Assets, Beginning of Period | 397699930 | 409376536 | 397691404 | 416089724 |
|  Net Assets, End of Period | $373675352 | $397699930 | $398814175 | $397691404 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 27418645 | 29655222 | 28872840 | 32712005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 1983540 | 2055419 | 3068366 | 1749186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 163959 | 1536722 |  | 437802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (2488399) | (5828718) | (2583083) | (6026153) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (340900) | (2236577) | 485283 | (3839165) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 27077745 | 27418645 | 29358123 | 28872840 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1491328 | $3382084 | $1316891 | $2912025 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | (995583) | 8748213 | 9627165 | 9972244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | (10571389) | 4608208 | (13498915) | 3435684 |
|  | (11566972) | 13356421 | (3871750) | 13407928 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | (10075644) | 16738505 | (2554859) | 16319953 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (1356325) | (11056800) | (1185017) | (11457434) |
|  Net Increase (Decrease) in Net Assets from Distributions | (1356325) | (11056800) | (1185017) | (11457434) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 15582314 | 35939780 | 12366448 | 82574142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 1356324 | 11056800 | 1185017 | 11457434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (41764158) | (47678395) | (35103546) | (42986598) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (24825520) | (681815) | (21552081) | 51044978 |
|  Total Increase (Decrease) in Net Assets | (36257489) | 4999890 | (25291957) | 55907497 |
|  Net Assets, Beginning of Period | 210033937 | 205034047 | 213053274 | 157145777 |
|  Net Assets, End of Period | $173776448 | $210033937 | $187761317 | $213053274 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 19961552 | 20074684 | 12478741 | 9654349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 1621664 | 3412737 | 745398 | 4684934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 138401 | 1008894 | 71087 | 644454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (4278983) | (4534763) | (2131157) | (2504996) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (2518918) | (113132) | (1314672) | 2824392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 17442634 | 19961552 | 11164069 | 12478741 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** | **MoA Balanced Fund** | **MoA Balanced Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $10860379 | $21794452 | $2067374 | $4019079 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 42121384 | 113411588 | 10015557 | 16518011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | (55252314) | 62823307 | 3952588 | 10875359 |
|  | (13130930) | 176234895 | 13968145 | 27393370 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | (2270551) | 198029347 | 16035519 | 31412449 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (10047634) | (138414946) | (1983721) | (16661536) |
|  Net Increase (Decrease) in Net Assets from Distributions | (10047634) | (138414946) | (1983721) | (16661536) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 53715372 | 131251213 | 6871917 | 7806351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 10047170 | 138408487 | 1983721 | 16661536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (145572780) | (288382238) | (19849388) | (26952358) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (81810238) | (18722538) | (10993750) | (2484471) |
|  Total Increase (Decrease) in Net Assets | (94128423) | 40891863 | 3058048 | 12266442 |
|  Net Assets, Beginning of Period | 1541792780 | 1500900917 | 198804149 | 186537707 |
|  Net Assets, End of Period | $1447664357 | $1541792780 | $201862197 | $198804149 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 73711336 | 74653665 | 9781899 | 9913926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 2680885 | 6097328 | 331893 | 378967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 492026 | 6290847 | 93089 | 806389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (7234007) | (13330504) | (956421) | (1317383) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (4061096) | (942329) | (531439) | (132027) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 69650240 | 73711336 | 9250460 | 9781899 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA International Fund** | **MoA International Fund** | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $35355332 | $48926562 | $40937 | $75197 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 24485929 | 11324173 | 194428 | 249473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 328571153 | 11762862 | 301414 | 1030408 |
|  | 353057082 | 23087035 | 495842 | 1279881 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 388412414 | 72013597 | 536779 | 1355078 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (33950440) | (60672335) | (38760) | (316012) |
|  Net Increase (Decrease) in Net Assets from Distributions | (33950440) | (60672335) | (38760) | (316012) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 112216756 | 367635251 | 492239 | 912456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 33950440 | 60672335 | 38760 | 316012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (136148598) | (243229184) | (280759) | (451328) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | 10018598 | 185078402 | 250240 | 777140 |
|  Total Increase (Decrease) in Net Assets | 364480572 | 196419664 | 748259 | 1816206 |
|  Net Assets, Beginning of Period | 1656146342 | 1459726678 | 7553362 | 5737156 |
|  Net Assets, End of Period | $2020626914 | $1656146342 | $8301621 | $7553362 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 199340544 | 177964034 | 474249 | 424687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 12107973 | 42650996 | 31304 | 60002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 3467869 | 6963577 | 2359 | 19466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (14881604) | (28238063) | (18392) | (29906) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | 694238 | 21376510 | 15271 | 49562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 200034782 | 199340544 | 489520 | 474249 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $3318083 | $6173608 | $5598226 | $13783466 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | (2488293) | 22730 | (1150643) | 12544951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 12432228 | 7787536 | 17874133 | 10992231 |
|  | 9943935 | 7810266 | 16723490 | 23537182 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 13262018 | 13983874 | 22321716 | 37320648 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (3317547) | (10765437) | (5597802) | (28210119) |
|  Net Increase (Decrease) in Net Assets from Distributions | (3317547) | (10765437) | (5597802) | (28210119) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 113599458 | 38593244 | 8501151 | 25649032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 3317547 | 10765437 | 5597802 | 28210119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (31879507) | (52012273) | (57212087) | (95168441) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | 85037498 | (2653592) | (43113134) | (41309290) |
|  Total Increase (Decrease) in Net Assets | 94981969 | 564845 | (26389220) | (32198761) |
|  Net Assets, Beginning of Period | 207924545 | 207359700 | 459141775 | 491340536 |
|  Net Assets, End of Period | $302906514 | $207924545 | $432752555 | $459141775 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 18773469 | 19017410 | 44342323 | 48246361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 10064147 | 3412192 | 808280 | 2422179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 288985 | 965427 | 522671 | 2694314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (2838183) | (4621560) | (5460750) | (9020531) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | 7514949 | (243941) | (4129799) | (3904038) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 26288418 | 18773469 | 40212524 | 44342323 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $12875572 | $30629660 | $15703843 | $34582555 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 492598 | 45455152 | 7619294 | 70936342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 48882855 | 27908572 | 64187751 | 38422996 |
|  | 49375453 | 73363724 | 71807045 | 109359338 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 62251025 | 103993384 | 87510888 | 143941893 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (12885238) | (80504666) | (15716190) | (98201001) |
|  Net Increase (Decrease) in Net Assets from Distributions | (12885238) | (80504666) | (15716190) | (98201001) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 35248045 | 90991252 | 60649299 | 135189970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 12885238 | 80504666 | 15716190 | 98201001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (129440143) | (212427905) | (108329485) | (179465644) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (81306860) | (40931987) | (31963996) | 53925327 |
|  Total Increase (Decrease) in Net Assets | (31941073) | (17443269) | 39830702 | 99666219 |
|  Net Assets, Beginning of Period | 1111402725 | 1128845994 | 1408740700 | 1309074481 |
|  Net Assets, End of Period | $1079461652 | $1111402725 | $1448571402 | $1408740700 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 92144987 | 95398941 | 105328827 | 101358436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 2891825 | 7325873 | 4479106 | 9885998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 1025079 | 6580406 | 1123387 | 7248786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (10637949) | (17160233) | (8034133) | (13164393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (6721045) | (3253954) | (2431640) | 3970391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 85423942 | 92144987 | 102897187 | 105328827 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $14783367 | $31074634 | $12086549 | $24865232 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 7537460 | 96698215 | 10160609 | 95800629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 73498832 | 33734556 | 68570640 | 27847991 |
|  | 81036292 | 130432771 | 78731249 | 123648620 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 95819659 | 161507405 | 90817798 | 148513852 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (14796407) | (113312499) | (12105991) | (100371526) |
|  Net Increase (Decrease) in Net Assets from Distributions | (14796407) | (113312499) | (12105991) | (100371526) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 69284975 | 165895140 | 59865165 | 127467009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 14796407 | 113312499 | 12105991 | 100371526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (99727228) | (159242743) | (82814786) | (110243511) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (15645846) | 119964896 | (10843630) | 117595024 |
|  Total Increase (Decrease) in Net Assets | 65377406 | 168159802 | 67868177 | 165737350 |
|  Net Assets, Beginning of Period | 1399229098 | 1231069296 | 1203562143 | 1037824793 |
|  Net Assets, End of Period | $1464606504 | $1399229098 | $1271430320 | $1203562143 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 99488517 | 91087947 | 84624705 | 76507647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 4864896 | 11479382 | 4162771 | 8704106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 1000433 | 7934837 | 804385 | 6949081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (7020325) | (11013649) | (5759630) | (7536129) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (1154996) | 8400570 | (792474) | 8117058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 98333521 | 99488517 | 83832231 | 84624705 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $11926407 | $24447263 | $8947154 | $18389944 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 15792471 | 105848703 | 12891409 | 73658784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 68566475 | 28673695 | 54531980 | 36269647 |
|  | 84358946 | 134522398 | 67423389 | 109928431 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 96285353 | 158969661 | 76370543 | 128318375 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (11946281) | (104644513) | (8963644) | (67915736) |
|  Net Increase (Decrease) in Net Assets from Distributions | (11946281) | (104644513) | (8963644) | (67915736) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 57085213 | 122022620 | 49312213 | 109890457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 11946281 | 104644513 | 8963644 | 67915736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (77166619) | (117990849) | (72289824) | (91346006) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (8135125) | 108676284 | (14013967) | 86460187 |
|  Total Increase (Decrease) in Net Assets | 76203947 | 163001432 | 53392932 | 146862826 |
|  Net Assets, Beginning of Period | 1231626232 | 1068624800 | 976609645 | 829746819 |
|  Net Assets, End of Period | $1307830179 | $1231626232 | $1030002577 | $976609645 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 87561925 | 79927633 | 53346612 | 48668561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 4014936 | 8441741 | 2672332 | 5941385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 800689 | 7328318 | 461330 | 3671142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (5427802) | (8135767) | (3908591) | (4934476) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (612177) | 7634292 | (774929) | 4678051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 86949748 | 87561925 | 52571683 | 53346612 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $5145114 | $10143682 | $2895446 | $5417717 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 3890135 | 39186168 | (149158) | 19258522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 36513173 | 22946424 | 23815262 | 14233372 |
|  | 40403308 | 62132592 | 23666104 | 33491894 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 45548422 | 72276274 | 26561550 | 38909611 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (5159680) | (37269115) | (2905037) | (18719133) |
|  Net Increase (Decrease) in Net Assets from Distributions | (5159680) | (37269115) | (2905037) | (18719133) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 43967949 | 89167656 | 36221283 | 65650855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 5159680 | 37269115 | 2905037 | 18719133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (43147652) | (50930153) | (23900733) | (26773333) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | 5979977 | 75506618 | 15225587 | 57596655 |
|  Total Increase (Decrease) in Net Assets | 46368719 | 110513777 | 38882100 | 77787133 |
|  Net Assets, Beginning of Period | 560993268 | 450479491 | 311077724 | 233290591 |
|  Net Assets, End of Period | $607361987 | $560993268 | $349959824 | $311077724 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 38032194 | 32950909 | 24519592 | 19968768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 2944170 | 5989223 | 2828137 | 5168322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 329061 | 2503771 | 215188 | 1464631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (2892442) | (3411709) | (1856206) | (2082129) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | 380789 | 5081285 | 1187119 | 4550824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 38412983 | 38032194 | 25706711 | 24519592 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage<br>2070 Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Period Ended<br>June 30, 2025<br>(Unaudited)(a)** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1165808 | $2040935 | $9754 |
|  Net realized and unrealized gain (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 1121541 | 6636479 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 8801854 | 4454789 | 88266 |
|  | 9923395 | 11091268 | 88270 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 11089203 | 13132203 | 98024 |
|  Distributions (Notes 2 and 6) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (1171477) | (5228439) | (9931) |
|  Net Increase (Decrease) in Net Assets from Distributions | (1171477) | (5228439) | (9931) |
|  Capital Transactions (Note 5) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 27165041 | 50121552 | 1588193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 1171477 | 5228439 | 9931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (8467511) | (8774863) | (27) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | 19869007 | 46575128 | 1598097 |
|  Total Increase (Decrease) in Net Assets | 29786733 | 54478892 | 1686190 |
|  Net Assets, Beginning of Period | 122186691 | 67707799 |  |
|  Net Assets, End of Period | $151973424 | $122186691 | $1686190 |
|  Other Information (Note 5) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 9286050 | 5692295 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 2041577 | 3862704 | 154649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 83737 | 396964 | 924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (636170) | (665913) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | 1490144 | 3593755 | 155570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 10776194 | 9286050 | 155570 |

---

(a) For the period May 2, 2025 (commencement of operations) to June 30, 2025.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1947135 | $4482489 | $4539580 | $10140280 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 983723 | 3558018 | 5017788 | 24834186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 4654476 | 4208215 | 17683838 | 8803109 |
|  | 5638199 | 7766233 | 22701626 | 33637295 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 7585334 | 12248722 | 27241206 | 43777575 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (1945609) | (8256023) | (4544098) | (34443135) |
|  Net Increase (Decrease) in Net Assets from Distributions | (1945609) | (8256023) | (4544098) | (34443135) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 3322028 | 9647786 | 3993413 | 9326258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 1945609 | 8256023 | 4544098 | 34443135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (14118816) | (27236289) | (34479000) | (59512579) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (8851179) | (9332480) | (25941489) | (15743186) |
|  Total Increase (Decrease) in Net Assets | (3211454) | (5339781) | (3244381) | (6408746) |
|  Net Assets, Beginning of Period | 152601480 | 157941261 | 396681650 | 403090396 |
|  Net Assets, End of Period | $149390026 | $152601480 | $393437269 | $396681650 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 13347683 | 14155969 | 29526390 | 30615098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 289135 | 833996 | 299183 | 678535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 164603 | 715234 | 320911 | 2513876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (1222195) | (2357516) | (2535472) | (4281119) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (768457) | (808286) | (1915378) | (1088708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 12579226 | 13347683 | 27611012 | 29526390 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** | **MoA US Government Money Market Fund** | **MoA US Government Money Market Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $3058619 | $7003416 | $10704546 | $26383599 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | 4033616 | 24301030 | 344 | 4577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 14326320 | 11150640 |  |  |
|  | 18359936 | 35451670 | 344 | 4577 |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 21418555 | 42455086 | 10704890 | 26388176 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (3062833) | (28180313) | (10704578) | (26397139) |
|  Net Increase (Decrease) in Net Assets from Distributions | (3062833) | (28180313) | (10704578) | (26397139) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 2357374 | 11537710 | 99537752 | 180969847 (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 3062833 | 28180313 | 10705751 | 26404813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (25094566) | (54406107) | (96418196) | (277882424) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (19674359) | (14688084) | 13825307 | (70507764) |
|  Total Increase (Decrease) in Net Assets | (1318637) | (413311) | 13825619 | (70516727) |
|  Net Assets, Beginning of Period | 335124019 | 335537330 | 515882755 | 586399482 |
|  Net Assets, End of Period | $333805382 | $335124019 | $529708374 | $515882755 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 22355524 | 23285344 | 515882108 | 586254771 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 158237 | 751012 | 99537896 | 180719079 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 194466 | 1850382 | 10705751 | 26403383 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (1663475) | (3531214) | (96418196) | (277495125)(b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (1310772) | (929820) | 13825451 | (70372663)(b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 21044752 | 22355524 | 529707559 | 515882108 (b) |

---

(a) The Fund accrued a non-recurring capital contribution from Mutual of America Capital Management LLC of $145 to reflect lost opportunity cost arising when a portion of the portfolio was uninvested.

(b) After the close of business on August 23, 2024, the MoA Money Market Fund was restructured as a US Government Money Market Fund and renamed as the MoA US Government Money Market Fund. After the close of business on August 23, 2024, the Fund underwent a stock split so the ending NAV was $1.00. The exact split ratio was 11.855015:1. Post the split and commencing on August 26, 2024, the Fund began seeking to preserve a $1.00 per share net asset value, declaring dividends daily and paying dividends monthly. Number of shares outstanding shown and the share activity prior to the split has been adjusted to reflect the split on a retroactive basis.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### STATEMENTS OF CHANGES IN NET ASSETS (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** | **MoA Core Bond Fund** | **MoA Core Bond Fund** |
|  | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** | **For the<br>Six Months Ended<br>June 30, 2025<br>(Unaudited)** | **For the<br>Year Ended<br>December 31, 2024** |
|  Increase (Decrease) in Net Assets from Operations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $17496801 | $33183551 | $45267113 | $80836424 |
|  Net realized and unrealized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments, futures contracts and foreign currency translations | (3037996) | (13630395) | (2799119) | (50754376) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation (depreciation) of investments, futures contracts and foreign currency translations | 20150618 | 6821704 | 48817596 | (5404002) |
|  | 17112622 | (6808691) | 46018477 | (56158378) |
|  Net Increase (Decrease) in Net Assets Resulting from Operations | 34609423 | 26374860 | 91285590 | 24678046 |
|  Distributions (Notes 2 and 6) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings | (14590498) | (33835589) | (38680433) | (82791259) |
|  Net Increase (Decrease) in Net Assets from Distributions | (14590498) | (33835589) | (38680433) | (82791259) |
|  Capital Transactions (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the sale of shares | 95990255 | 178360292 | 199045182 | 530329675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions reinvested | 14590498 | 33835589 | 38673900 | 82776536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of shares redeemed | (137814230) | (255044059) | (265380933) | (406032486) |
|  Net Increase (Decrease) in Net Assets from Capital Transactions | (27233477) | (42848178) | (27661851) | 207073725 |
|  Total Increase (Decrease) in Net Assets | (7214552) | (50308907) | 24943306 | 148960512 |
|  Net Assets, Beginning of Period | 899241186 | 949550093 | 2209073744 | 2060113232 |
|  Net Assets, End of Period | $892026634 | $899241186 | $2234017050 | $2209073744 |
|  Other Information (Note 5) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at beginning of period | 94137008 | 98461581 | 182212676 | 165444728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued | 9936461 | 18636508 | 16381134 | 43035621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued as reinvestment of distributions | 1511307 | 3521878 | 3151212 | 6729075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | (14285832) | (26482959) | (21701145) | (32996748) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares issued in split |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) | (2838064) | (4324573) | (2168799) | 16767948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares outstanding at end of period | 91298944 | 94137008 | 180043877 | 182212676 |

---

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity Index Fund** | **MoA Equity Index Fund** | **MoA Equity Index Fund** | **MoA Equity Index Fund** | **MoA Equity Index Fund** | **MoA Equity Index Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $66.67 | $58.29 | $48.82 | $62.41 | $51.15 | $47.89 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.41 | 0.82 | 0.87 | 0.79 | 0.73 | 0.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 3.64 | 13.73 | 11.79 | (12.20) | 13.70 | 7.52 |
|  Total from Investment Operations | 4.05 | 14.55 | 12.66 | (11.41) | 14.43 | 8.44 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.40) | (0.87) | (0.85) | (0.78) | (0.70) | (1.68) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (5.30) | (2.34) | (1.40) | (2.47) | (3.50) |
|  Total Distributions | (0.40) | (6.17) | (3.19) | (2.18) | (3.17) | (5.18) |
|  Net Asset Value, End of Period | $70.32 | $66.67 | $58.29 | $48.82 | $62.41 | $51.15 |
|  Total Return (%)(b) | 6.09 (c) | 24.83 | 26.12 | (18.24) | 28.50 | 18.20 |
|  Net Assets, End of Period ($ millions) | 5901 | 5868 | 5201 | 4330 | 4992 | 3714 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.25 (d) | 1.23 | 1.57 | 1.51 | 1.27 | 1.72 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.13 (d) | 0.13 | 0.14 | 0.14 | 0.13 | 0.15 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.12 (d) | 0.12 | 0.14 | 0.14 | 0.13 | 0.15 |
|  Portfolio Turnover Rate (%)(e) | 0.80 (c) | 8.64 | 4.07 | 3.14 | 7.01 | 5.77 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA All America Fund** | **MoA All America Fund** | **MoA All America Fund** | **MoA All America Fund** | **MoA All America Fund** | **MoA All America Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $23.06 | $21.58 | $19.76 | $27.73 | $24.18 | $24.24 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.10 | 0.24 | 0.25 | 0.25 | 0.25 | 0.34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.75 | 3.94 | 3.67 | (5.21) | 6.18 | 3.31 |
|  Total from Investment Operations | 0.85 | 4.18 | 3.92 | (4.96) | 6.43 | 3.65 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.10) | (0.23) | (0.24) | (0.25) | (0.20) | (0.63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (2.47) | (1.86) | (2.76) | (2.68) | (3.08) |
|  Total Distributions | (0.10) | (2.70) | (2.10) | (3.01) | (2.88) | (3.71) |
|  Net Asset Value, End of Period | $23.81 | $23.06 | $21.58 | $19.76 | $27.73 | $24.18 |
|  Total Return (%)(b) | 3.69 (c) | 19.12 | 20.33 | (17.70) | 27.07 | 16.78 |
|  Net Assets, End of Period ($ millions) | 298 | 309 | 299 | 281 | 374 | 320 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 0.88 (d) | 0.97 | 1.17 | 1.07 | 0.90 | 1.33 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.53 (d) | 0.51 | 0.53 | 0.54 | 0.49 | 0.52 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.52 (d) | 0.50 | 0.53 | 0.54 | 0.49 | 0.52 |
|  Portfolio Turnover Rate (%)(e) | 8.72 (c) | 30.64 | 31.84 | 19.24 | 19.84 | 24.07 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** | **MoA Small Cap Value Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.50 | $13.80 | $13.44 | $16.52 | $13.45 | $15.11 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.09 | 0.20 | 0.24 | 0.19 | 0.17 | 0.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | (0.71) | 1.39 | 1.00 | (1.83) | 4.12 | (1.03) |
|  Total from Investment Operations | (0.62) | 1.59 | 1.24 | (1.64) | 4.29 | (0.80) |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.08) | (0.18) | (0.22) | (0.18) | (0.09) | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.71) | (0.66) | (1.26) | (1.13) | (0.45) |
|  Total Distributions | (0.08) | (0.89) | (0.88) | (1.44) | (1.22) | (0.86) |
|  Net Asset Value, End of Period | $13.80 | $14.50 | $13.80 | $13.44 | $16.52 | $13.45 |
|  Total Return (%)(b) | (4.25)(c) | 11.29 | 9.59 | (9.82) | 32.29 | (4.01) |
|  Net Assets, End of Period ($ millions) | 374 | 398 | 409 | 413 | 580 | 472 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.39 (d) | 1.33 | 1.78 | 1.15 | 1.03 | 1.90 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.85 (d) | 0.82 | 0.84 | 0.82 | 0.80 | 0.82 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.84 (d) | 0.81 | 0.84 | 0.82 | 0.80 | 0.82 |
|  Portfolio Turnover Rate (%)(e) | 24.04 (c) | 47.84 | 22.33 | 8.40 | 33.93 | 42.64 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** | **MoA Small Cap Growth Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $13.77 | $12.72 | $11.01 | $16.22 | $17.53 | $14.63 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | (0.01) | (0.03) | (0.01) | (0.01) | (0.03) | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | (0.18) | 1.30 | 1.73 | (4.60) | 1.74 | 6.01 |
|  Total from Investment Operations | (0.19) | 1.27 | 1.72 | (4.61) | 1.71 | 5.99 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income |  |  |  |  | (0.01) | (0.06) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.22) | (0.01) | (0.60) | (3.01) | (3.03) |
|  Total Distributions |  | (0.22) | (0.01) | (0.60) | (3.02) | (3.09) |
|  Net Asset Value, End of Period | $13.58 | $13.77 | $12.72 | $11.01 | $16.22 | $17.53 |
|  Total Return (%)(b) | (1.38)(c) | 9.92 | 15.63 | (28.37) | 10.38 | 43.31 |
|  Net Assets, End of Period ($ millions) | 399 | 398 | 416 | 432 | 673 | 667 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | (0.17)(d) | (0.19) | (0.12) | (0.05) | (0.24) | (0.17) |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.85 (d) | 0.82 | 0.84 | 0.83 | 0.80 | 0.81 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.84 (d) | 0.81 | 0.84 | 0.83 | 0.80 | 0.81 |
|  Portfolio Turnover Rate (%)(e) | 20.68 (c) | 43.85 | 49.48 | 61.61 | 45.18 | 70.58 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** | **MoA Small Cap Equity Index Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $10.52 | $10.21 | $9.08 | $11.59 | $10.74 | $9.93 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.09 | 0.18 | 0.16 | 0.13 | 0.16 | 0.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | (0.57) | 0.70 | 1.26 | (2.03) | 2.62 | 0.94 |
|  Total from Investment Operations | (0.48) | 0.88 | 1.42 | (1.90) | 2.78 | 1.01 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.08) | (0.17) | (0.15) | (0.12) | (0.15) | (0.07) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.40) | (0.14) | (0.49) | (1.78) | (0.13) |
|  Total Distributions | (0.08) | (0.57) | (0.29) | (0.61) | (1.93) | (0.20) |
|  Net Asset Value, End of Period | $9.96 | $10.52 | $10.21 | $9.08 | $11.59 | $10.74 |
|  Total Return (%)(b) | (4.57)(c) | 8.55 | 15.87 | (16.31) | 26.56 | 10.62 |
|  Net Assets, End of Period ($ millions) | 174 | 210 | 205 | 179 | 143 | 107 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.59 (d) | 1.65 | 1.76 | 1.54 | 1.29 | 1.51 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.25 (d) | 0.25 | 0.24 | 0.25 | 0.25 | 0.39 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.15 (d) | 0.14 | 0.14 | 0.14 | 0.14 | 0.12 |
|  Portfolio Turnover Rate (%)(e) | 15.12 (c) | 35.80 | 43.99 | 29.55 | 69.91 | 42.67 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** | **MoA Mid Cap Value Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $17.07 | $16.28 | $15.65 | $19.21 | $15.53 | $16.36 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.12 | 0.26 | 0.23 | 0.23 | 0.26 | 0.44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | (0.26) | 1.52 | 0.85 | (2.32) | 5.01 | (0.14) |
|  Total from Investment Operations | (0.14) | 1.78 | 1.08 | (2.09) | 5.27 | 0.30 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.11) | (0.24) | (0.20) | (0.29) | (0.14) | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.75) | (0.25) | (1.18) | (1.45) | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return of Capital |  |  |  |  |  | (0.12) |
|  Total Distributions | (0.11) | (0.99) | (0.45) | (1.47) | (1.59) | (1.13) |
|  Net Asset Value, End of Period | $16.82 | $17.07 | $16.28 | $15.65 | $19.21 | $15.53 |
|  Total Return (%)(b) | (0.83)(c) | 10.78 | 6.96 | (10.67) | 34.35 | 2.82 |
|  Net Assets, End of Period ($ millions) | 188 | 213 | 157 | 115 | 131 | 90 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.34 (d) | 1.62 | 1.61 | 1.34 | 1.47 | 2.96 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.69 (d) | 0.69 | 0.74 | 0.70 | 0.65 | 0.74 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.68 (d) | 0.68 | 0.73 | 0.70 | 0.65 | 0.74 |
|  Portfolio Turnover Rate (%)(e) | 18.34 (c) | 38.06 | 29.02 | 11.44 | 23.84 | 23.65 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** | **MoA Mid Cap Equity Index Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $20.92 | $20.10 | $18.91 | $25.12 | $23.07 | $22.45 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.16 | 0.32 | 0.34 | 0.36 | 0.33 | 0.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | (0.15) | 2.51 | 2.66 | (3.76) | 5.21 | 2.37 |
|  Total from Investment Operations | 0.01 | 2.83 | 3.00 | (3.40) | 5.54 | 2.69 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.33) | (0.28) | (0.31) | (0.30) | (0.59) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (1.68) | (1.53) | (2.50) | (3.19) | (1.48) |
|  Total Distributions | (0.15) | (2.01) | (1.81) | (2.81) | (3.49) | (2.07) |
|  Net Asset Value, End of Period | $20.78 | $20.92 | $20.10 | $18.91 | $25.12 | $23.07 |
|  Total Return (%)(b) | 0.04 (c) | 13.77 | 16.25 | (13.23) | 24.56 | 13.50 |
|  Net Assets, End of Period ($ millions) | 1448 | 1542 | 1501 | 1600 | 2118 | 1856 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.51 (d) | 1.42 | 1.63 | 1.58 | 1.24 | 1.56 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.16 (d) | 0.15 | 0.15 | 0.16 | 0.14 | 0.15 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.15 (d) | 0.15 | 0.15 | 0.16 | 0.14 | 0.15 |
|  Portfolio Turnover Rate (%)(e) | 6.22 (c) | 24.85 | 19.60 | 19.54 | 25.62 | 13.14 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Balanced Fund** | **MoA Balanced Fund** | **MoA Balanced Fund** | **MoA Balanced Fund** | **MoA Balanced Fund** | **MoA Balanced Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $20.32 | $18.82 | $17.39 | $21.18 | $19.16 | $18.68 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.23 | 0.43 | 0.39 | 0.35 | 0.32 | 0.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 1.49 | 2.88 | 2.21 | (2.91) | 2.80 | 1.75 |
|  Total from Investment Operations | 1.72 | 3.31 | 2.60 | (2.56) | 3.12 | 2.12 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.22) | (0.44) | (0.40) | (0.36) | (0.32) | (0.77) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (1.37) | (0.77) | (0.87) | (0.78) | (0.87) |
|  Total Distributions | (0.22) | (1.81) | (1.17) | (1.23) | (1.10) | (1.64) |
|  Net Asset Value, End of Period | $21.82 | $20.32 | $18.82 | $17.39 | $21.18 | $19.16 |
|  Total Return (%)(b) | 8.47 (c) | 17.56 | 15.07 | (12.02) | 16.48 | 11.77 |
|  Net Assets, End of Period ($ millions) | 202 | 199 | 187 | 180 | 218 | 191 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.12 (d) | 2.07 | 2.09 | 1.81 | 1.53 | 1.76 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.57 (d) | 0.56 | 0.54 | 0.54 | 0.46 | 0.54 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.56 (d) | 0.55 | 0.54 | 0.54 | 0.46 | 0.54 |
|  Portfolio Turnover Rate (%)(e) | 18.05 (c) | 36.98 | 50.33 | 25.01 | 23.68 | 38.58 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA International Fund** | **MoA International Fund** | **MoA International Fund** | **MoA International Fund** | **MoA International Fund** | **MoA International Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $8.31 | $8.20 | $7.24 | $9.26 | $9.34 | $9.05 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.18 | 0.27 | 0.29 | 0.31 | 0.20 | 0.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 1.78 | 0.17 | 1.09 | (1.44) | 0.74 | 0.56 |
|  Total from Investment Operations | 1.96 | 0.44 | 1.38 | (1.13) | 0.94 | 0.70 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.17) | (0.33) | (0.42) | (0.23) | (0.16) | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains. |  |  |  | (0.66) | (0.86) | (0.03) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return of Capital |  |  |  |  |  | — (b) |
|  Total Distributions | (0.17) | (0.33) | (0.42) | (0.89) | (1.02) | (0.41) |
|  Net Asset Value, End of Period | $10.10 | $8.31 | $8.20 | $7.24 | $9.26 | $9.34 |
|  Total Return (%)(c) | 23.69 (d) | 5.19 | 19.55 | (11.09) | 10.37 | 8.19 |
|  Net Assets, End of Period ($ millions) | 2021 | 1656 | 1460 | 1202 | 1203 | 940 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 3.91 (e) | 3.07 | 3.83 | 4.10 | 2.05 | 2.20 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(f) | 0.46 (e) | 0.36 | 0.14 | 0.13 | 0.12 | 0.13 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(f) | 0.30 (e) | 0.25 | 0.13 | 0.13 | 0.12 | 0.13 |
|  Portfolio Turnover Rate (%)(g) | 10.92 (d) | 37.96 | 20.14 | 18.25 | 123.53 | 4.69 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Amount is less than $0.005 per share.

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(d) Not annualized.

(e) Annualized.

(f) International Fund excludes the expenses of its ETF investments.

(g) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** | **MoA Catholic Values Index Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **Period<br>Ended<br>December 31,<br>2020<br>(Unaudited)(a)** |
|  Net Asset Value, Beginning of Period | $15.93 | $13.51 | $10.97 | $14.06 | $11.17 | $10.00 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.08 | 0.17 | 0.17 | 0.15 | 0.15 | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 1.03 | 2.95 | 2.71 | (2.98) | 3.07 | 1.17 |
|  Total from Investment Operations | 1.11 | 3.12 | 2.88 | (2.83) | 3.22 | 1.21 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.08) | (0.17) | (0.17) | (0.15) | (0.14) | (0.04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.53) | (0.17) | (0.11) | (0.19) | — (b) |
|  Total Distributions | (0.08) | (0.70) | (0.34) | (0.26) | (0.33) | (0.04) |
|  Net Asset Value, End of Period | $16.96 | $15.93 | $13.51 | $10.97 | $14.06 | $11.17 |
|  Total Return (%)(c) | 6.98 (d) | 23.02 | 26.37 | (20.10) | 28.99 | 12.12 (d) |
|  Net Assets, End of Period ($ millions) | 8 | 8 | 6 | 4 | 5 | 3 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.10 (e) | 1.12 | 1.39 | 1.36 | 1.16 | 1.57 (e) |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%) | 2.65 (e) | 3.05 | 2.94 | 2.53 | 2.14 | 2.18 (e) |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%) | 0.22 (e) | 0.21 | 0.22 | 0.22 | 0.22 | 0.15 (e) |
|  Portfolio Turnover Rate (%)(f) | 12.77 (d) | 25.87 | 25.23 | 13.48 | 9.54 | 16.38 (d) |

---

(a) For the period September 30, 2020 (commencement of operations) through December 31, 2020.

(b) Amount is less than $0.005 per share.

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(d) Not annualized.

(e) Annualized.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** | **MoA Retirement Income Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $11.08 | $10.90 | $10.24 | $12.26 | $12.09 | $12.09 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.13 | 0.35 | 0.26 | 0.17 | 0.15 | 0.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.44 | 0.44 | 0.74 | (1.54) | 0.54 | 0.49 |
|  Total from Investment Operations | 0.57 | 0.79 | 1.00 | (1.37) | 0.69 | 0.90 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.13) | (0.42) | (0.26) | (0.17) | (0.16) | (0.60) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.19) | (0.08) | (0.48) | (0.36) | (0.30) |
|  Total Distributions | (0.13) | (0.61) | (0.34) | (0.65) | (0.52) | (0.90) |
|  Net Asset Value, End of Period | $11.52 | $11.08 | $10.90 | $10.24 | $12.26 | $12.09 |
|  Total Return (%)(b) | 5.13 (c) | 7.21 | 9.91 | (11.12) | 5.77 | 7.59 |
|  Net Assets, End of Period ($ millions) | 303 | 208 | 207 | 203 | 224 | 193 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.83 (d) | 3.02 | 2.40 | 1.58 | 1.22 | 4.25 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.27 (d) | 0.18 | 0.16 | 0.13 | 0.11 | 0.11 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.26 (d) | 0.18 | 0.16 | 0.13 | 0.11 | 0.11 |
|  Portfolio Turnover Rate (%)(f) | 8.76 (c) | 28.84 | 25.22 | 32.16 | 28.07 | 23.13 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** | **MoA Clear Passage 2020 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $10.35 | $10.18 | $9.55 | $12.16 | $11.84 | $12.42 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.14 | 0.32 | 0.26 | 0.18 | 0.16 | 0.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.41 | 0.50 | 0.86 | (1.78) | 0.99 | 0.62 |
|  Total from Investment Operations | 0.55 | 0.82 | 1.12 | (1.60) | 1.15 | 1.08 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.14) | (0.33) | (0.26) | (0.18) | (0.20) | (0.70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.32) | (0.23) | (0.83) | (0.63) | (0.96) |
|  Total Distributions | (0.14) | (0.65) | (0.49) | (1.01) | (0.83) | (1.66) |
|  Net Asset Value, End of Period | $10.76 | $10.35 | $10.18 | $9.55 | $12.16 | $11.84 |
|  Total Return (%)(b) | 5.33 (c) | 8.10 | 11.83 | (13.06) | 9.80 | 9.11 |
|  Net Assets, End of Period ($ millions) | 433 | 459 | 491 | 504 | 621 | 594 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.56 (d) | 2.89 | 2.48 | 1.65 | 1.29 | 3.66 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.24 (d) | 0.14 | 0.12 | 0.09 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.23 (d) | 0.13 | 0.11 | 0.09 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 5.27 (c) | 17.58 | 21.68 | 19.16 | 22.78 | 22.40 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** | **MoA Clear Passage 2025 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $12.06 | $11.83 | $10.98 | $13.97 | $13.29 | $13.65 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.15 | 0.36 | 0.29 | 0.20 | 0.18 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.58 | 0.78 | 1.18 | (2.11) | 1.39 | 0.85 |
|  Total from Investment Operations | 0.73 | 1.14 | 1.47 | (1.91) | 1.57 | 1.33 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.36) | (0.29) | (0.21) | (0.23) | (0.72) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.55) | (0.33) | (0.87) | (0.66) | (0.97) |
|  Total Distributions | (0.15) | (0.91) | (0.62) | (1.08) | (0.89) | (1.69) |
|  Net Asset Value, End of Period | $12.64 | $12.06 | $11.83 | $10.98 | $13.97 | $13.29 |
|  Total Return (%)(b) | 6.08 (c) | 9.70 | 13.59 | (13.56) | 11.96 | 10.26 |
|  Net Assets, End of Period ($ millions) | 1079 | 1111 | 1129 | 1057 | 1203 | 1020 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.42 (d) | 2.73 | 2.50 | 1.69 | 1.29 | 3.68 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.12 | 0.09 | 0.08 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 6.65 (c) | 20.69 | 22.19 | 18.16 | 15.42 | 16.72 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** | **MoA Clear Passage 2030 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $13.37 | $12.92 | $11.90 | $15.25 | $14.08 | $14.32 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.15 | 0.35 | 0.31 | 0.22 | 0.19 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.71 | 1.09 | 1.48 | (2.40) | 1.94 | 1.10 |
|  Total from Investment Operations | 0.86 | 1.44 | 1.79 | (2.18) | 2.13 | 1.58 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.37) | (0.31) | (0.22) | (0.26) | (0.73) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.62) | (0.46) | (0.95) | (0.70) | (1.09) |
|  Total Distributions | (0.15) | (0.99) | (0.77) | (1.17) | (0.96) | (1.82) |
|  Net Asset Value, End of Period | $14.08 | $13.37 | $12.92 | $11.90 | $15.25 | $14.08 |
|  Total Return (%)(b) | 6.47 (c) | 11.16 | 15.25 | (14.14) | 15.29 | 11.67 |
|  Net Assets, End of Period ($ millions) | 1449 | 1409 | 1309 | 1125 | 1231 | 981 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.27 (d) | 2.53 | 2.46 | 1.67 | 1.25 | 3.67 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.20 (d) | 0.12 | 0.09 | 0.08 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 7.36 (c) | 20.62 | 19.17 | 15.52 | 13.45 | 12.53 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** | **MoA Clear Passage 2035 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.06 | $13.52 | $12.20 | $16.00 | $14.40 | $14.59 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.15 | 0.34 | 0.31 | 0.23 | 0.20 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.83 | 1.41 | 1.76 | (2.69) | 2.34 | 1.25 |
|  Total from Investment Operations | 0.98 | 1.75 | 2.07 | (2.46) | 2.54 | 1.73 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.36) | (0.32) | (0.24) | (0.29) | (0.72) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.85) | (0.43) | (1.10) | (0.65) | (1.20) |
|  Total Distributions | (0.15) | (1.21) | (0.75) | (1.34) | (0.94) | (1.92) |
|  Net Asset Value, End of Period | $14.89 | $14.06 | $13.52 | $12.20 | $16.00 | $14.40 |
|  Total Return (%)(b) | 6.99 (c) | 13.05 | 17.26 | (15.20) | 17.84 | 12.61 |
|  Net Assets, End of Period ($ millions) | 1465 | 1399 | 1231 | 1023 | 1101 | 846 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.13 (d) | 2.33 | 2.44 | 1.70 | 1.25 | 3.67 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.20 (d) | 0.12 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 6.89 (c) | 19.82 | 18.50 | 16.15 | 8.93 | 11.53 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** | **MoA Clear Passage 2040 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.22 | $13.56 | $12.12 | $16.15 | $14.44 | $14.48 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.15 | 0.32 | 0.31 | 0.23 | 0.20 | 0.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.95 | 1.61 | 1.93 | (2.75) | 2.64 | 1.37 |
|  Total from Investment Operations | 1.10 | 1.93 | 2.24 | (2.52) | 2.84 | 1.84 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.35) | (0.31) | (0.24) | (0.30) | (0.70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.92) | (0.49) | (1.27) | (0.83) | (1.18) |
|  Total Distributions | (0.15) | (1.27) | (0.80) | (1.51) | (1.13) | (1.88) |
|  Net Asset Value, End of Period | $15.17 | $14.22 | $13.56 | $12.12 | $16.15 | $14.44 |
|  Total Return (%)(b) | 7.72 (c) | 14.35 | 18.87 | (15.37) | 19.89 | 13.43 |
|  Net Assets, End of Period ($ millions) | 1271 | 1204 | 1038 | 848 | 925 | 708 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.02 (d) | 2.19 | 2.40 | 1.69 | 1.22 | 3.59 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(e) | 0.21 (d) | 0.12 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 7.07 (c) | 17.81 | 18.97 | 10.97 | 11.55 | 12.53 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** | **MoA Clear Passage 2045 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.07 | $13.37 | $11.89 | $15.97 | $14.28 | $14.32 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.14 | 0.30 | 0.30 | 0.22 | 0.19 | 0.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.97 | 1.68 | 1.99 | (2.75) | 2.71 | 1.34 |
|  Total from Investment Operations | 1.11 | 1.98 | 2.29 | (2.53) | 2.90 | 1.79 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.14) | (0.34) | (0.31) | (0.23) | (0.29) | (0.68) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.94) | (0.50) | (1.32) | (0.92) | (1.15) |
|  Total Distributions | (0.14) | (1.28) | (0.81) | (1.55) | (1.21) | (1.83) |
|  Net Asset Value, End of Period | $15.04 | $14.07 | $13.37 | $11.89 | $15.97 | $14.28 |
|  Total Return (%)(b) | 7.89 (c) | 14.90 | 19.64 | (15.59) | 20.57 | 13.31 |
|  Net Assets, End of Period ($ millions) | 1308 | 1232 | 1069 | 875 | 957 | 733 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.94 (d) | 2.09 | 2.38 | 1.68 | 1.19 | 3.54 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.12 | 0.10 | 0.08 | 0.08 | 0.07 |
|  Portfolio Turnover Rate (%)(f) | 6.51 (c) | 16.21 | 14.87 | 13.09 | 11.96 | 10.77 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** | **MoA Clear Passage 2050 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $18.31 | $17.05 | $15.20 | $20.31 | $17.92 | $17.47 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.17 | 0.37 | 0.38 | 0.28 | 0.24 | 0.54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 1.28 | 2.24 | 2.59 | (3.52) | 3.45 | 1.68 |
|  Total from Investment Operations | 1.45 | 2.61 | 2.97 | (3.24) | 3.69 | 2.22 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.17) | (0.42) | (0.39) | (0.29) | (0.38) | (0.81) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.93) | (0.73) | (1.58) | (0.92) | (0.96) |
|  Total Distributions | (0.17) | (1.35) | (1.12) | (1.87) | (1.30) | (1.77) |
|  Net Asset Value, End of Period | $19.59 | $18.31 | $17.05 | $15.20 | $20.31 | $17.92 |
|  Total Return (%)(b) | 7.94 (c) | 15.39 | 19.94 | (15.66) | 20.82 | 13.39 |
|  Net Assets, End of Period ($ millions) | 1030 | 977 | 830 | 665 | 717 | 536 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.85 (d) | 2.01 | 2.36 | 1.66 | 1.18 | 3.56 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.22 (d) | 0.13 | 0.11 | 0.09 | 0.08 | 0.08 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.21 (d) | 0.13 | 0.10 | 0.09 | 0.08 | 0.08 |
|  Portfolio Turnover Rate (%)(f) | 7.22 (c) | 13.94 | 16.86 | 12.91 | 11.57 | 9.80 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** | **MoA Clear Passage 2055 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.75 | $13.67 | $11.99 | $15.99 | $13.98 | $13.31 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.14 | 0.29 | 0.30 | 0.21 | 0.18 | 0.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 1.06 | 1.84 | 2.05 | (2.77) | 2.74 | 1.41 |
|  Total from Investment Operations | 1.20 | 2.13 | 2.35 | (2.56) | 2.92 | 1.79 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.14) | (0.33) | (0.30) | (0.23) | (0.29) | (0.57) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.72) | (0.37) | (1.21) | (0.62) | (0.55) |
|  Total Distributions | (0.14) | (1.05) | (0.67) | (1.44) | (0.91) | (1.12) |
|  Net Asset Value, End of Period | $15.81 | $14.75 | $13.67 | $11.99 | $15.99 | $13.98 |
|  Total Return (%)(b) | 8.12 (c) | 15.66 | 19.98 | (15.77) | 21.11 | 13.93 |
|  Net Assets, End of Period ($ millions) | 607 | 561 | 450 | 339 | 330 | 220 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.82 (d) | 1.98 | 2.38 | 1.64 | 1.16 | 3.66 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.23 (d) | 0.15 | 0.13 | 0.11 | 0.10 | 0.11 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.23 (d) | 0.14 | 0.12 | 0.11 | 0.10 | 0.11 |
|  Portfolio Turnover Rate (%)(f) | 8.45 (c) | 16.37 | 14.85 | 12.88 | 10.49 | 7.28 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** | **MoA Clear Passage 2060 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $12.69 | $11.68 | $10.18 | $13.58 | $11.87 | $11.12 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.11 | 0.24 | 0.25 | 0.18 | 0.16 | 0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.92 | 1.59 | 1.77 | (2.34) | 2.38 | 1.25 |
|  Total from Investment Operations | 1.03 | 1.83 | 2.02 | (2.16) | 2.54 | 1.53 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.11) | (0.28) | (0.25) | (0.19) | (0.26) | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.54) | (0.27) | (1.05) | (0.57) | (0.36) |
|  Total Distributions . | (0.11) | (0.82) | (0.52) | (1.24) | (0.83) | (0.78) |
|  Net Asset Value, End of Period | $13.61 | $12.69 | $11.68 | $10.18 | $13.58 | $11.87 |
|  Total Return (%)(b) | 8.16 (c) | 15.73 | 20.19 | (15.72) | 21.60 | 14.08 |
|  Net Assets, End of Period ($ millions) | 350 | 311 | 233 | 155 | 130 | 72 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.81 (d) | 1.95 | 2.39 | 1.62 | 1.25 | 4.14 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.26 (d) | 0.17 | 0.17 | 0.17 | 0.16 | 0.22 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.25 (d) | 0.17 | 0.17 | 0.17 | 0.05 | 0.05 |
|  Portfolio Turnover Rate (%)(f) | 8.42 (c) | 15.46 | 12.15 | 12.95 | 14.26 | 6.70 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** | **MoA Clear Passage 2065 Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **Period Ended<br>December 31,<br>2020<br>(Unaudited)(a)** |
|  Net Asset Value, Beginning of Period | $13.16 | $11.89 | $10.25 | $13.20 | $11.45 | $10.00 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.11 | 0.25 | 0.26 | 0.18 | 0.16 | 0.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.94 | 1.65 | 1.81 | (2.26) | 2.31 | 1.59 |
|  Total from Investment Operations | 1.05 | 1.90 | 2.07 | (2.08) | 2.47 | 1.81 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.11) | (0.29) | (0.26) | (0.19) | (0.26) | (0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.34) | (0.17) | (0.68) | (0.46) | (0.12) |
|  Total Distributions | (0.11) | (0.63) | (0.43) | (0.87) | (0.72) | (0.36) |
|  Net Asset Value, End of Period | $14.10 | $13.16 | $11.89 | $10.25 | $13.20 | $11.45 |
|  Total Return (%)(b) | 7.99 (c) | 16.01 | 20.50 | (15.54) | 21.73 | 18.16 (c) |
|  Net Assets, End of Period ($ millions) | 152 | 122 | 68 | 34 | 17 | 3 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.76 (d) | 2.11 | 2.62 | 1.88 | 1.44 | 3.40 (d) |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%) | 0.34 (d) | 0.27 | 0.43 | 0.63 | 1.15 | 4.61 (d) |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%) | 0.34 (d) | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 (d) |
|  Portfolio Turnover Rate (%)(e) | 7.27 (c) | 12.71 | 17.62 | 16.45 | 28.10 | 10.76 (c) |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the period ended from May 2, 2025 to June 30, 2025 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | |
|:---|:---|
|  | **MoA Clear<br>Passage 2070<br>Fund** |
|  | **Period Ended<br>June 30, 2025<br>(Unaudited)(a)** |
|  Net Asset Value, Beginning of Period | $10.00 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.84 |
|  Total from Investment Operations | 0.92 |
|  Less Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.08) |
|  Total Distributions | (0.08) |
|  Net Asset Value, End of Period | $10.84 |
|  Total Return (%)(b) | 9.21 (c) |
|  Net Assets, End of Period ($ millions) | 2 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 5.49 (d) |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 19.19 (d) |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.13 (d) |
|  Portfolio Turnover Rate (%)(e) | 0.01 (c) |

---

(a) For the period May 2, 2025 (commencement of operations) through June 30, 2025.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** | **MoA Conservative Allocation Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $11.43 | $11.16 | $10.40 | $12.86 | $12.67 | $12.71 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.16 | 0.37 | 0.25 | 0.19 | 0.18 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.45 | 0.53 | 0.91 | (1.80) | 0.80 | 0.67 |
|  Total from Investment Operations | 0.61 | 0.90 | 1.16 | (1.61) | 0.98 | 1.15 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.16) | (0.36) | (0.26) | (0.19) | (0.20) | (0.74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.27) | (0.14) | (0.66) | (0.59) | (0.45) |
|  Total Distributions | (0.16) | (0.63) | (0.40) | (0.85) | (0.79) | (1.19) |
|  Net Asset Value, End of Period | $11.88 | $11.43 | $11.16 | $10.40 | $12.86 | $12.67 |
|  Total Return (%)(b) | 5.31 (c) | 8.09 | 11.22 | (12.44) | 7.82 | 9.32 |
|  Net Assets, End of Period ($ millions) | 149 | 153 | 158 | 161 | 201 | 188 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.63 (d) | 2.87 | 2.24 | 1.63 | 1.36 | 3.81 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.16 (d) | 0.14 | 0.13 | 0.08 | 0.06 | 0.06 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.15 (d) | 0.13 | 0.13 | 0.08 | 0.06 | 0.06 |
|  Portfolio Turnover Rate (%)(f) | 5.49 (c) | 22.14 | 12.65 | 10.16 | 16.91 | 10.07 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** | **MoA Moderate Allocation Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $13.43 | $13.17 | $12.20 | $15.98 | $15.14 | $15.51 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.17 | 0.36 | 0.30 | 0.24 | 0.22 | 0.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.82 | 1.12 | 1.53 | (2.49) | 1.90 | 1.13 |
|  Total from Investment Operations | 0.99 | 1.48 | 1.83 | (2.25) | 2.12 | 1.71 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.17) | (0.39) | (0.30) | (0.24) | (0.28) | (0.89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.83) | (0.56) | (1.29) | (1.00) | (1.19) |
|  Total Distributions | (0.17) | (1.22) | (0.86) | (1.53) | (1.28) | (2.08) |
|  Net Asset Value, End of Period | $14.25 | $13.43 | $13.17 | $12.20 | $15.98 | $15.14 |
|  Total Return (%)(b) | 7.35 (c) | 11.27 | 15.34 | (13.91) | 14.19 | 11.67 |
|  Net Assets, End of Period ($ millions) | 393 | 397 | 403 | 393 | 487 | 444 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 2.37 (d) | 2.49 | 2.25 | 1.71 | 1.34 | 3.69 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.09 (d) | 0.08 | 0.07 | 0.04 | 0.03 | 0.03 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.08 (d) | 0.07 | 0.07 | 0.04 | 0.03 | 0.03 |
|  Portfolio Turnover Rate (%)(f) | 3.22 (c) | 15.72 | 12.56 | 8.74 | 14.83 | 10.69 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** | **MoA Aggressive Allocation Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $14.99 | $14.41 | $13.30 | $17.86 | $16.80 | $17.36 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.15 | 0.33 | 0.32 | 0.26 | 0.23 | 0.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.87 | 1.56 | 1.94 | (3.02) | 2.78 | 1.60 |
|  Total from Investment Operations | 1.02 | 1.89 | 2.26 | (2.76) | 3.01 | 2.19 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.15) | (0.38) | (0.32) | (0.27) | (0.35) | (0.92) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  | (0.93) | (0.83) | (1.53) | (1.60) | (1.83) |
|  Total Distributions | (0.15) | (1.31) | (1.15) | (1.80) | (1.95) | (2.75) |
|  Net Asset Value, End of Period | $15.86 | $14.99 | $14.41 | $13.30 | $17.86 | $16.80 |
|  Total Return (%)(b) | 6.79 (c) | 13.22 | 17.52 | (15.24) | 18.21 | 13.72 |
|  Net Assets, End of Period ($ millions) | 334 | 335 | 336 | 313 | 390 | 337 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 1.90 (d) | 2.05 | 2.21 | 1.66 | 1.22 | 3.50 |
|  Ratio of Expenses to Average Net Assets Before Expense<br>Reimbursement (%)(e) | 0.10 (d) | 0.09 | 0.08 | 0.05 | 0.04 | 0.04 |
|  Ratio of Expenses to Average Net Assets After Expense<br>Reimbursement (%)(e) | 0.09 (d) | 0.08 | 0.08 | 0.05 | 0.04 | 0.04 |
|  Portfolio Turnover Rate (%)(f) | 3.79 (c) | 15.97 | 10.51 | 9.54 | 13.06 | 10.23 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) The Conservative, Aggressive, and Moderate Allocation Funds and Target Date Funds exclude expenses of the underlying funds.

(f) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA U.S. Government Money Market Fund** | **MoA U.S. Government Money Market Fund** | **MoA U.S. Government Money Market Fund** | **MoA U.S. Government Money Market Fund** | **MoA U.S. Government Money Market Fund** | **MoA U.S. Government Money Market Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024(a)** | **2023(a)** | **2022(a)** | **2021(a)** | **2020(a)(b)** |
|  Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.04 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) . | 0.02 | 0.05 | 0.05 | 0.01 | — (c) | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | — (c) | — (c) | — (c) | — (c) | — (c) | (0.01) |
|  Total from Investment Operations | 0.02 | 0.05 | 0.05 | 0.01 | — (c) |  |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.02) | (0.05) | (0.05) | (0.01) |  | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  |  | — (c) |  |  | — (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return of Capital |  |  |  |  |  | — (c) |
|  Total Distributions | (0.02) | (0.05) | (0.05) | (0.01) |  | 0.04 |
|  Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
|  Total Return (%)(d) | 2.05 (e) | 5.09 | 4.99 | 1.31 | (0.17) | 0.18 |
|  Net Assets, End of Period ($ millions) | 530 | 516 | 586 | 335 | 173 | 122 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 4.10 (f) | 4.99 | 4.90 | 1.71 | (0.20) | 0.40 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.23 (f) | 0.23 | 0.23 | 0.24 | 0.26 | 0.27 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.22 (f) | 0.22 | 0.23 | 0.24 | 0.26 | 0.27 |
|  Portfolio Turnover Rate (%)(g) | NA (e) | NA | NA | NA | NA | NA |

---

(a) On August 23, 2024, the MoA US Government Money Market Fund, had a stock split with an exact split ratio of 11.855015:1. Historical net asset value per share and per share activity have been adjusted to reflect the split on a retroactive basis and the historical split that occurred on September 25, 2020 referenced in note (a).

(b) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(e) Not annualized.

(f) Annualized.

(g) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** | **MoA Intermediate Bond Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $9.55 | $9.64 | $9.43 | $10.36 | $10.79 | $10.63 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.19 | 0.35 | 0.22 | 0.14 | 0.14 | 0.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.19 | (0.09) | 0.21 | (0.93) | (0.36) | 0.39 |
|  Total from Investment Operations | 0.38 | 0.26 | 0.43 | (0.79) | (0.22) | 0.54 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.16) | (0.35) | (0.22) | (0.14) | (0.14) | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  |  |  |  | (0.07) |  |
|  Total Distributions | (0.16) | (0.35) | (0.22) | (0.14) | (0.21) | (0.38) |
|  Net Asset Value, End of Period | $9.77 | $9.55 | $9.64 | $9.43 | $10.36 | $10.79 |
|  Total Return (%)(b) | 4.00 (c) | 2.79 | 4.62 | (7.66) | (2.02) | 5.05 |
|  Net Assets, End of Period ($ millions) | 892 | 899 | 950 | 878 | 866 | 829 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 3.98 (d) | 3.61 | 2.39 | 1.42 | 1.32 | 1.79 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.47 (d) | 0.46 | 0.47 | 0.45 | 0.44 | 0.46 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.46 (d) | 0.46 | 0.46 | 0.45 | 0.44 | 0.46 |
|  Portfolio Turnover Rate (%)(e) . | 27.30 (c) | 53.52 | 50.30 | 21.07 | 17.57 | 10.72 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### FINANCIAL HIGHLIGHTS
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2025 and five years ended December 31, 2024 (or since the Fund's inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MoA Core Bond Fund** | **MoA Core Bond Fund** | **MoA Core Bond Fund** | **MoA Core Bond Fund** | **MoA Core Bond Fund** | **MoA Core Bond Fund** |
|  | | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  |<br>**Six Months<br>Ended<br>June 30,<br>2025<br>(Unaudited)** | **2024** | **2023** | **2022** | **2021** | **2020(a)** |
|  Net Asset Value, Beginning of Period | $12.12 | $12.45 | $12.21 | $14.32 | $15.01 | $14.77 |
|  INCOME (LOSS) FROM INVESTMENT OPERATIONS |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | 0.25 | 0.46 | 0.36 | 0.27 | 0.23 | 0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized and Unrealized Gains (Losses) on Investments, Futures Contracts and Foreign Currency Translations | 0.25 | (0.32) | 0.24 | (2.09) | (0.60) | 0.67 |
|  Total from Investment Operations | 0.50 | 0.14 | 0.60 | (1.82) | (0.37) | 0.95 |
|  Less Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Investment Income | (0.21) | (0.47) | (0.36) | (0.29) | (0.27) | (0.70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From Net Realized Gains |  |  |  |  | (0.05) | (0.01) |
|  Total Distributions | (0.21) | (0.47) | (0.36) | (0.29) | (0.32) | (0.71) |
|  Net Asset Value, End of Period | $12.41 | $12.12 | $12.45 | $12.21 | $14.32 | $15.01 |
|  Total Return (%)(b) | 4.16 (c) | 1.17 | 5.03 | (12.79) | (2.45) | 6.40 |
|  Net Assets, End of Period ($ millions) | 2234 | 2209 | 2060 | 1841 | 2049 | 1873 |
|  Ratio of Net Income (Loss) to Average Net Assets (%) | 4.07 (d) | 3.78 | 2.94 | 2.07 | 1.56 | 2.03 |
|  Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.45 (d) | 0.45 | 0.45 | 0.43 | 0.43 | 0.45 |
|  Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.44 (d) | 0.44 | 0.44 | 0.43 | 0.43 | 0.45 |
|  Portfolio Turnover Rate (%)(e) | 17.43 (c) | 44.53 | 34.81 | 33.44 | 31.53 | 28.98 |

---

(a) On September 25, 2020, the MoA Funds, with the exception of the Catholic Values Index Fund which commenced operations on September 30, 2020, had a 1 for 10 reverse share split.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year or period reported and includes reinvestment of distributions, if any. For variable annuity owners or participants in a group variable annuity, the total return does not reflect the effect of fees and charges associated with your variable annuity contract and does not reflect expenses associated with the separate account such as administrative fees and account charges which, if reflected, would reduce the total returns for all years and periods shown. Past performance is no guarantee of future results. Total returns for periods less than one full year are not annualized.

(c) Not annualized.

(d) Annualized.

(e) Portfolio turnover rate excludes all short-term securities.

The accompanying notes are an integral part of these financial statements.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited)

#### June 30, 2025
**1.** **Organization** 

MoA Funds Corporation (the "Investment Company") is a diversified, open-end management investment company — a type of company commonly known as a "mutual fund." It is registered under the Investment Company Act of 1940. The Investment Company was formed on February 21, 1986 as a Maryland corporation and offers its shares to various types of investors, including separate accounts of affiliated insurance companies. The Investment Company issues separate series of capital stock, each of which represents a separate Fund (collectively, "the Funds"). The financial statements for each of the Funds are contained within this report.

As of June 30, 2025, there were 28 active funds (collectively the "Funds"), as follows:

---

| | |
|:---|:---|
| **Equity Funds** | **Asset Allocation Funds** |
| MoA Small Cap Value Fund | MoA Conservative Allocation Fund |
| MoA Mid Cap Value Fund | MoA Moderate Allocation Fund |
| MoA Small Cap Growth Fund | MoA Aggressive Allocation Fund |
| MoA International Fund | MoA Balanced Fund |
|  MoA Equity Index Fund |  |
|  MoA Mid Cap Equity Index Fund | **Target Date Funds** |
| MoA Small Cap Equity Index Fund | MoA Retirement Income Fund\* |
| MoA Catholic Values Index Fund | MoA Clear Passage 2020 Fund |
| MoA All America Fund | MoA Clear Passage 2025 Fund |
|  | MoA Clear Passage 2030 Fund |
| **Fixed Income Funds** | MoA Clear Passage 2035 Fund |
| MoA Intermediate Bond Fund | MoA Clear Passage 2040 Fund |
| MoA Core Bond Fund | MoA Clear Passage 2045 Fund |
| MoA US Government Money Market Fund | MoA Clear Passage 2050 Fund |
|  | MoA Clear Passage 2055 Fund |
|  | MoA Clear Passage 2060 Fund |
|  | MoA Clear Passage 2065 Fund |
|  | MoA Clear Passage 2070 Fund |

---

\* At the November 7, 2024, Board meeting, the Board approved an Agreement and Plan of Reorganization under which the MoA Clear Passage 2015 Fund transferred all its assets to the MoA Retirement Income Fund in exchange for shares of the MoA Retirement Income Fund. The reorganization was completed on April 25, 2025.

Investment Company shares are issued to retail and institutional investors, such as endowments, foundations, corporations, municipalities and other public entities, and trusts. In addition, shares are issued to Mutual of America Life Insurance Company for allocation to its Separate Accounts as a funding medium for variable accumulation annuity contracts, as well as directly issued to one or more of the Investment Company's Target Date Funds and the MoA Conservative Allocation, MoA Moderate Allocation and MoA Aggressive Allocation Funds (collectively, "Asset Allocation Funds"). Foreside Fund Services, LLC acts as principal underwriter for the distribution of the Funds' shares.

**2.** **SIGNIFICANT ACCOUNTING POLICIES** 

The Funds follow investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Codification Topic 946 Financial Services — Investment Companies. The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and related disclosures. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.

In December 2023, the FASB issued Accounting Standards Update (ASU), ASU 2023-09, Income Taxes (Topic

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

740) – Improvements to Income Taxes Disclosures ("ASU 2023-09"), which enhances the transparency of income tax disclosures. ASU 2023-09 requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments under ASU 2023-09 are required to be applied prospectively and are effective for fiscal years beginning after December 15, 2024. Management expects that the adoption of the guidance will not have a material impact on the Funds' financial statements.

In this reporting period, the Funds adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) — Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of their operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

An executive committee of the Funds' adviser, Mutual of America Capital Management LLC (the "Adviser"), acts as the Funds' CODM. Since its inception, each Fund has represented a single operating segment, as the CODM monitors the operating results of the Investment Company as a whole and each Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the respective Fund's portfolio managers as a team. The financial information in the form of the Fund's portfolio of investment securities, expense ratios, net increase (decrease) in net assets resulting from operations on the respective statement of operations and other information about the Funds' performance, including total return within the respective financial highlights schedule, which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmarks and to make resource allocation decisions for the Funds' single segment, is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying statements of assets and liabilities as "total assets" and significant segment expenses are listed on the accompanying statements of operations.

The following is a summary of the significant accounting policies consistently followed by the Investment Company, which are in conformity with GAAP:

*Fair Value* — The Investment Company values its investments at fair value. Fair value is an estimate of the price the Fund would receive upon selling a security in an orderly arms-length transaction. Investments are categorized based on a three-level valuation hierarchy for measurement and disclosure of fair value. The valuation hierarchy is based upon the transparency of inputs used to measure fair value. These inputs are summarized in the three broad levels listed below:

• Level 1 — quoted prices in active markets for identical securities.

• Level 2 — other significant observable inputs (including yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds, trading characteristics, etc.).

• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

As of June 30, 2025, management determined that the fair value inputs used for all equity securities were considered Level 1, with the exception of two securities in the MoA Small Cap Equity Index Fund and one in the MoA Catholic Values Index Fund (see Note (a) below) which were considered Level 3 and certain securities listed on foreign exchanges which were considered Level 2. Valuation adjustments may be applied to certain securities that were solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the close of the New York Stock Exchange. Securities using these valuation adjustments were considered Level 2. In addition, non-registered securities under Rule 144A of the Securities Act of 1933 were considered Level 2. Fair value inputs for all debt securities and temporary cash investments were considered Level 2, with the

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

exception of one debt security in the MoA Core Bond Fund (see Note (a) below) which was considered as Level 3. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Funds' investments and other financial instruments as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Level 1 — Quoted<br>Prices** | **Level 2 — Significant<br>Observable Inputs** | **Level 3 — Significant<br>Unobservable Inputs** | **Total** |
|  **Investments at Fair Value:\*** |  |  |  |  |
|  MoA Equity Index Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $5840071399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5840071399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $2292000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53282214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $55574214 |
|  | $5842363399 | $53282214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5895645613 |
|  MoA All America Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $289584656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $289584656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1345400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1345400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $5028692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5028692 |
|  | $294613348 | $1345400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $295958748 |
|  MoA Small Cap Value Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $370647000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $370647000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $2997542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $2997542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $1153586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1153586 |
|  | $371800586 | $2997542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $374798128 |
|  MoA Small Cap Growth Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $391514833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $391514833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $3900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $3900000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $84571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $84571 |
|  | $395499404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $395499404 |
|  MoA Small Cap Equity Index Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $173487362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —(a) | $173487362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $13528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $13528 |
|  | $173500890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $173500890 |
|  MoA Mid Cap Value Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $183253241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $183253241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $3900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $3900000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $74197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $74197 |
|  | $187227438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $187227438 |
|  MoA Mid Cap Equity Index Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $1429953197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1429953197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $1200000 | $6671029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $7871029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $56728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $56728 |
|  | $1431209925 | $6671029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1437880954 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **<u>Fund</u>** | **Level 1 — Quoted<br>Prices** | **Level 2 — Significant<br>Observable Inputs** | **Level 3 — Significant<br>Unobservable Inputs** | **Total** |
|  MoA Balanced Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $122336821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $122336821 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $12091108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $12091108 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Residential Mortgage-Backed Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $24080088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $24080088 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Non-Mortgage-Backed Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $3462427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $3462427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Long-Term Corporate Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $31611363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $31611363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $3000000 | $3747692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $6747692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $599201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $599201 |
|  | $125936022 | $74992678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $200928700 |
|  MoA International Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $161953527 | $1800499005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1962452532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $1900000 | $24736491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $26636491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $898774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $898774 |
|  | $164752301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825235496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1989987797 |
|  MoA Catholic Values Index Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $8305852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —(a) | $8305852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $5508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5508 |
|  | $8311360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $8311360 |
|  MoA Retirement Income Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $302988392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $302988392 |
|  MoA Clear Passage 2020 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $432854323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $432854323 |
|  MoA Clear Passage 2025 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1079679787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1079679787 |
|  MoA Clear Passage 2030 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1448844404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1448844404 |
|  MoA Clear Passage 2035 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1464880212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1464880212 |
|  MoA Clear Passage 2040 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1271669653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1271669653 |
|  MoA Clear Passage 2045 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1308076923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1308076923 |
|  MoA Clear Passage 2050 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1030208551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1030208551 |
|  MoA Clear Passage 2055 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $607488530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $607488530 |
|  MoA Clear Passage 2060 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $350045593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $350045593 |
|  MoA Clear Passage 2065 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $152027401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $152027401 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **<u>Fund</u>** | **Level 1 — Quoted<br>Prices** | **Level 2 — Significant<br>Observable Inputs** | **Level 3 — Significant<br>Unobservable Inputs** | **Total** |
|  MoA Clear Passage 2070 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $1700723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1700723 |
|  MoA Conservative Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149430986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $149430986 |
|  MoA Moderate Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $393490918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $393490918 |
|  MoA Aggressive Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Mutual Funds | $333854902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $333854902 |
|  MoA US Government Money Market Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $307794484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $307794484 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agencies | $58313013 | $167325293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $225638306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $23868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $23868 |
|  | $58336881 | $475119777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $533456658 |
|  MoA Intermediate Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $387523609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $387523609 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Non- Mortgage-Backed Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $16278540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $16278540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Long-Term Corporate Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $478203838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $478203838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1800000 |
|  | $1800000 | $882005987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $883805987 |
|  MoA Core Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $414770310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $414770310 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Residential Mortgage-Backed Obligations | $3 | $763725350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $763725353 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Non- Mortgage-Backed Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $46143922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $46143922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Long-Term Corporate Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $979146763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $979146763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sovereign Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1,142,803(a) | $1142803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Debt Securities | $5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temporary Cash Investment | $50958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $50958 |
|  | $5050961 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203786345 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142803 | $2209980109 |
|  **Other Financial Instruments:\*\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | $1658875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1658875 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA All America Fund | $61525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $61525 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | $156848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $156848 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | $330208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $330208 |

---

\* See Portfolios of Investments for more details on industry or country classifications, as applicable.

(a) Includes securities fair valued using methods determined in good faith by the Adviser and reviewed by the Investment Company Valuation Committee, in accordance with procedures adopted by the Board of Directors of the Investment Company.

\*\* Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures contracts which are valued at the settlement price established each day by the exchange on which traded.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** | **Fair Value Measurement Using Significant Unobservable<br>Inputs (Level 3) for the period ended June 30, 2025** |
|  | **Balance<br>December 31,<br>2024** | **Change in<br>Unrealized<br>Gains<br>(Losses)** | **Realized<br>Gains<br>(Losses)** | **Accrued<br>Discounts/<br>Premiums** | **Transfers<br>Into<br>Level 3** | **Transfers<br>Out of<br>Level 3** | **Purchases/<br>Payups** | **Sales/<br>Paydown** | **Balance<br>June 30,<br>2025(a)** | **Net Change in<br>Unrealized<br>Gains/<br>(Losses)<br>of Level 3<br>Assets Held<br>as of**<br>**June 30,**<br>**2025** |
|  MoA Small Cap Equity Index Fund — Common Stock | —(b) |  |  |  |  |  |  |  | —(b) |  |
|  MoA Catholic Values Index<br>Fund — Common Stock | —(c) |  |  |  |  |  |  |  | —(c) |  |
|  MoA Core Bond Fund — Sovereign Debt | $1,284,467(d) | $(9281) |  | $(328) |  |  |  | $(132055) | $1,142,803(d) | $(9281) |

---

(a) Includes securities fair valued using methods determined in good faith by the Adviser and reviewed by the Investment Company Valuation Committee, in accordance with procedures adopted by the Board of Directors of the Investment Company.

(b) Level 3 securities, OmniAB, Inc. Cl CR3 and OmniAB, Inc. Cl CR4 - common stocks with $0 fair value.

(c) Level 3 securities, Contra ABIOMED, Inc. - contingent value rights with $0 fair value.

(d) Level 3 security, Sri Lanka AID, with change in unrealized loss of $(9,281), accrued discounts of $(328), sales/paydowns of $(132,055) and $1,142,803 fair value.

*Security Valuation* — Investment securities are carried at fair value as follows:

The Funds' investments are valued as of the close of trading on the New York Stock Exchange ("Exchange") on each day the Exchange is open for trading. The Exchange usually closes at 4:00 pm Eastern Time but sometimes closes earlier. For Funds that invest in securities listed on foreign exchanges, the value of the securities may change on days when the Funds are closed and there is no possibility to purchase or redeem shares of the Funds. Valuation adjustments may be applied to certain securities that were solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the close of the Exchange.

The Board has adopted valuation procedures for security valuation under which the Adviser was designated to perform certain fair valuation responsibilities. The Adviser has established a Valuation Committee responsible for supervising the fair valuation of portfolio securities. The valuation procedures permit the Funds to utilize independent pricing vendor services, quotations from market makers and alternative valuation methods when market quotations are either not readily available or not deemed representative of market value. Assumptions utilized by the valuation committee vary depending on the investment being fair-valued and the technique deemed most appropriate to the nature of the investment and how a market participant would fair value the investment. Such techniques involve utilizing market observable spreads for fixed income securities, discounted cash flow models and weighting of company specific events and circumstances as inputs into fair value estimates. A record of the Valuation Committee's actions is subject to the Board's review at its next regularly scheduled quarterly meeting.

Exchange-traded equity securities are valued at the last reported sales price on the principal exchange on which the security is traded. If there is no trading volume for a particular valuation day, the Valuation Committee is responsible for the fair valuation of portfolio security.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

Short-term debt securities with a maturity of 60 days or less are valued at amortized cost, which approximates fair value for such securities.

Debt securities, including short-term debt securities maturing in excess of 60 days, are typically valued on the basis of prices obtained from an independent pricing source. The pricing source may utilize various pricing methodologies that incorporate both models (which consider factors such as yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds and trading characteristics) and dealer-supplied valuations to derive a valuation.

Temporary cash investments are amounts on deposit with financial institutions that are swept daily into an overnight investment and returned the next business day. These short-term temporary cash investments are valued at cost.

When a price is not available from an independent pricing source or when prices may not reflect market value, such as when the price provided by the pricing source is not based on a recent trade, these securities are fair valued using the valuation procedures described above and are considered Level 3 securities.

The Target Date Funds and the Conservative, Aggressive, and Moderate Allocation Funds value their investments in the underlying Funds of the Investment Company at their respective net asset values.

*Investment Transactions* — Investment transactions are accounted for as of the trade date. Realized gains and losses on the sale of securities are computed on the basis of identified cost at the time of sale, determined on the first-in, first-out ("FIFO") basis.

*Futures Contracts* — The MoA Equity Index Fund, MoA Mid Cap Equity Index Fund, MoA International Fund and a portion of the MoA All America Fund each maintain portfolios which are subject to equity price risk. In order to remain more fully invested in the equity markets while minimizing transaction costs, the Funds may purchase stock index futures contracts. These purchases of futures contracts allow the Funds to invest available cash to attempt to efficiently and cost effectively keep the Funds fully invested on a daily basis in an attempt to minimize deviation from the performance of the indices.

An initial cash margin deposit (represented by Treasury bills) is made upon entering into a futures contract and serves as collateral for the contract. This initial margin, maintained in a segregated account, does not involve the borrowing of funds to finance the transaction. During the period the futures contract is outstanding, changes in the value of the contract are recognized as unrealized appreciation or depreciation by "marking-to-market" on a daily basis to reflect the market value of the contract at the end of each trading day. The accumulated unrealized appreciation or depreciation on the contract is included in Total Distributable Earnings (Loss) in the Components of Net Assets section of the Statements of Assets and Liabilities. Futures contracts are valued at the settlement price established each day by the exchange on which traded. Depending upon whether unrealized appreciation or depreciation are incurred, variation margin payments are received or made daily. The net change in unrealized appreciation or depreciation of futures contracts is recorded in the Statements of Operations. When the contract is closed, a realized gain or loss from futures transactions is recorded in the Statements of Operations, equal to the net variation margin received or paid over the period the contract was outstanding.

The "Underlying Face Amount at Value" (appearing in the "Footnotes to Portfolios of Investments in Securities") representing the aggregate of outstanding contractual amounts under futures contracts reflects the extent of a Fund's exposure to off-balance sheet risk. The use of futures transactions involves the risk of imperfect correlation in the price movements of the contract and the underlying securities. With futures contracts, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchange's clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

The following table presents the financial statement impacts resulting from the Funds' use of futures contracts at their fair values as of June 30, 2025, and for the six months ended June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted<br>for as hedging instruments** | **Risk<br>Type** | **Locations on Statements of<br>Assets and Liabilities** | **MoA Equity<br>Index Fund** | **MoA All<br>America Fund** | **MoA Mid Cap<br>Equity Index<br>Fund** | **MoA<br>International<br>Fund** |
|  Futures Contracts | Equity | Total Distributable Earnings (Loss) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658875 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61525 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156848 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330208 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted<br>for as hedging instruments** | **Risk<br>Type** | **Locations on Statements of<br>Operations** | **MoA Equity<br>Index Fund** | **MoA All<br>America Fund** | **MoA Mid Cap<br>Equity Index<br>Fund** | **MoA<br>International<br>Fund** |
|  Futures Contracts | Equity | Net realized gain (loss) on Futures contracts | $(1738097) | $57184 | $(1317759) | $1922221 |
|  Futures Contracts | Equity | Change in net unrealized appreciation (depreciation) of Futures contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858067 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132370 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867198 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811828 |

---

During the six months ended June 30, 2025, the MoA Equity Index Fund, MoA All America Fund, MoA Mid-Cap Equity Index Fund and MoA International Fund held futures contracts with average notional amounts of $74,704,634, $2,997,925, $18,382,807 and $16,851,260, respectively.

*Warrants* — A warrant is an option to purchase common stock of an issuer and is issued in conjunction with another security, such as a debt obligation. A warrant specifies the price at which the holder may purchase shares of common stock and usually expires after a period of time. A warrant holder generally may pay cash for the common stock to be purchased or may surrender the principal amount of the related debt security the warrant holder owns equal to the purchase price for the stock.

The common stock underlying a warrant may not increase in value after the date the warrant was issued, or may not increase up to the warrant exercise price. In this case, the warrant generally would have little value and could expire unexercised.

*Foreign Investment Risk* — Foreign markets are subject to the risk of change in currency or exchange rates, economic and political trends in foreign countries, less liquidity, more volatility, more difficulty in enforcing contractual obligations, higher transaction costs and less government supervision and other reporting regulations and requirements than domestic markets. Foreign investment risks are greater in emerging markets than in developed markets. Domestic equities indices could outperform the MSCI EAFE Index for periods of time.

*Investment Income* — Interest income, accretion of discount and amortization of premium are recorded daily on an accrual basis using the effective interest method. A debt obligation may cease accrual of income and result in a reduction to interest income when the collection of all or a portion of current and past due interest is in doubt. Dividend income is recorded on the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Foreign source tax withheld from dividends is recorded as a reduction from dividend income. The Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These amounts are included in Interest and dividends receivable on the Statements of Assets and Liabilities and in Dividends on the Statements of Operations. At the six months-end June 30, 2025, the MoA International Fund had a withholding tax reclaim receivable amount of $4,658,816.

*Foreign Currency Translations* — The accounting records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the current rate of exchange of such currency against the U.S.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**2.** **SIGNIFICANT ACCOUNTING POLICIES (continued)** 

dollar to determine the value of investments, assets and liabilities. Purchases and sales of securities, and income and expenses are translated at the prevailing rate of exchange on the respective dates of such transactions.

Reported net realized gains and losses arise from the sales of portfolio securities, sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. As of December 31, 2024, the effect of changes in foreign exchange rates on the sale of foreign dominated securities was reflected separately in the net realized gain (loss) on foreign currency translations. As of December 31, 2024, the effect of changes in foreign exchange rates on the sale of foreign denominated securities is reflected within the net realized gain (loss) on investment securities and is not reflected separately from the fluctuations arising from changes in the market price of securities sold. The effect of changes in foreign currency translations on securities held is reflected within the change in net unrealized appreciation (depreciation) of Investment securities and is not reflected separately from the fluctuations arising from changes in market prices of securities held.

*Distributions to Shareholders ("Dividends")* — Distributions to shareholders are recorded on the ex-dividend date and are made at least annually. It is the Investment Company's policy to make distributions of its net investment income and net realized gains, if any, in accordance with Federal income tax regulations, which may differ from U.S. generally accepted accounting principles. Accordingly, periodic reclassifications (which do not impact the Funds' net asset values) are made within the Funds' capital accounts to reflect income and gains available for distribution under Federal income tax regulations.

*Federal Income Taxes* — Each Fund in the Investment Company intends to continue to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income to shareholders annually. Therefore, no federal income or excise tax provision is required.

GAAP requires the evaluation of tax positions taken in the course of preparing a fund's tax return to determine whether it is "more-likely-than-not" that tax positions taken in the fund's tax return will be ultimately sustained, and, if not, a tax liability and expense is recorded.

As of December 31, 2024, management has evaluated the tax positions taken on the Funds' filed tax returns for all open tax years and has concluded that no tax provision is required in any of the Funds' financial statements. Generally, the statute of limitations is open for 3 years after the tax returns are filed. Each Fund's federal, state and local income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

As of June 30, 2025, the following Funds had late-year, and capital loss carry-forwards available to offset net realized capital gains generated after December 31, 2024.

---

| | | | |
|:---|:---|:---|:---|
| | **MoA International<br>Fund** | **MoA Intermediate<br>Bond Fund** | **MoA Core Bond<br>Fund** |
|  Capital loss carry-forward — (short-term) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46856383) | $(667029) | $(16352481) |
|  Capital loss carry-forward — (long term) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41134683) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54517570) | $(125962238) |

---

The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

**3.** **EXPENSES** 

The Investment Company has an Investment Advisory Agreement with the Adviser, an indirect wholly-owned subsidiary of Mutual of America. For providing investment management services to each of the Funds of the Investment Company, the Adviser receives a fee, calculated as a daily charge of the value of the net assets of each Fund, at the following annual rates:

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**3.** **EXPENSES (continued)** 

---

| | |
|:---|:---|
| **Fund** | **Annual Investment<br>Management Fee** |
|  MoA Conservative Allocation, MoA Moderate Allocation, MoA Aggressive Allocation Funds | 0.00% |
|  MoA Target Date Funds | 0.05% |
|  MoA Equity Index, MoA Mid Cap Equity Index, MoA Small Cap Equity Index Funds | 0.075% |
|  MoA Catholic Values Index and MoA US Government Money Market Funds | 0.15% |
|  MoA Core Bond Fund | 0.39% |
|  MoA All America, MoA Balanced, MoA International (a), MoA Intermediate Bond Funds | 0.40% |
|  MoA Mid Cap Value Fund | 0.55% |
|  MoA Small Cap Value, MoA Small Cap Growth Funds | 0.75% |

---

(a) On March 12, 2024, the shareholders of the MoA International Fund approved an amendment to the Fund's investment advisory agreement that amended the Fund's management fee from 0.075% to the annual rate of 0.40% of the Fund's average daily net assets. The Adviser has contractually agreed to waive 0.15% of the Fund's management fees from May 1, 2024, through April 30, 2026.

For the six months ended June 30, 2025, the reimbursement amounted to $90,416, $90,373 and $34,324 for MoA Catholic Values Index Fund, MoA Small Cap Equity Index Fund and MoA Clear Passage 2070 Fund, respectively.

Shareholders in the MoA Conservative Allocation, MoA Moderate Allocation, MoA Aggressive Allocation, and Target Date Funds (each a "Fund of Funds") indirectly bear their pro-rata share of the investment management fees incurred by the underlying funds in which they invest. Certain non-investment management operating expenses that can be attributed only to the Fund of Funds are charged directly to those Funds.

The Investment Company and the Adviser have entered into an agreement under which the Adviser agrees to waive its investment advisory fee and/or reimburse other ordinary operating expenses of the MoA Catholic Values Index Fund, MoA Small Cap Equity Index Fund, and MoA Clear Passage 2070 Fund to the extent necessary to limit each such Fund's ordinary operating expenses (other than, among other things, the management fee and shareholder servicing fees) to an amount not to exceed the annual rate of 0.08% (the "Annual Limit") based on the Fund's average daily net assets. This agreement remains in effect through April 30, 2026 and continues into successive 12 month periods ending April 30 unless i) terminated by the Board of Directors of the Investment Company at any time, or ii) terminated by the Adviser upon written notice to the Investment Company delivered prior to May 1 of a given year, in which case the agreement will terminate as of the May 1 next following delivery of written notice. To the extent that the Adviser waives its investment advisory fee and/or reimburses ordinary operating expenses of a Fund to satisfy the Annual Limit, the Adviser may seek recoupment from that Fund of a portion or all of such amounts at any time within three years from the date in which such amounts were waived or reimbursed, but only if such recoupment could be achieved without exceeding the Annual Limit in effect at the time of the waiver/reimbursement and any Annual Limit in effect at the time of the recoupment.

The Adviser also serves as an administrator for the Investment Company. Under the terms of the Administration Agreement between the Adviser and the Investment Company, which became effective on July 1, 2023, the Adviser agrees to provide certain Administrative Services or bear the cost of certain affiliates providing such services, in exchange for a fee at an annual rate of 0.03% of each Fund's average daily net assets.

The administrative services provided by the Adviser include, among other items, coordination and supervision of the Funds' other principal service providers; preparing and submitting reports to various regulatory agencies; compliance-related services; internal legal support; preparing and submitting reports and meeting materials to the Board of Directors; maintaining the Investment Company's records; providing officers to the Funds; and negotiating and administering contractual arrangements with, and monitoring the performance of, service providers to the Funds. The Adviser has voluntarily agreed to waive 0.008% of this fee. This waiver may be modified or discontinued at any time.

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**3.** **EXPENSES (continued)** 

The fees to the Adviser from the Administration Agreement are disclosed as Administrative fees on the Statements of Operations. The effect of the waiver of expenses related to the Administrative Services and any non-investment management operating expense reimbursements by the Adviser is included in Fee waiver and expense reimbursement on the Statements of Operations. Amounts by Fund are listed below.

---

| | |
|:---|:---|
| **Fund** | **Administrative<br>Services Waiver** |
|  MoA Equity Index Fund | $223085 |
|  MoA All America Fund | 11622 |
|  MoA Small Cap Value Fund | 14797 |
|  MoA Small Cap Growth Fund | 14981 |
|  MoA Small Cap Equity Index Fund | 7497 |
|  MoA Mid Cap Value Fund | 7873 |
|  MoA Mid Cap Equity Index Fund | 57520 |
|  MoA Balanced Fund | 7792 |
|  MoA International Fund | 72273 |
|  MoA Catholic Values Index Fund | 299 |
|  MoA Retirement Income Fund | 9376 |
|  MoA Clear Passage 2020 Fund | 17515 |
|  MoA Clear Passage 2025 Fund | 42491 |
|  MoA Clear Passage 2030 Fund | 55299 |
|  MoA Clear Passage 2035 Fund | 55560 |
|  MoA Clear Passage 2040 Fund | 47865 |
|  MoA Clear Passage 2045 Fund | 49209 |
|  MoA Clear Passage 2050 Fund | 38763 |
|  MoA Clear Passage 2055 Fund | 22591 |
|  MoA Clear Passage 2060 Fund | 12805 |
|  MoA Clear Passage 2065 Fund | 5302 |
|  MoA Clear Passage 2070 Fund | 14 |
|  MoA Conservative Allocation Fund | 5917 |
|  MoA Moderate Allocation Fund | 15351 |
|  MoA Aggressive Allocation Fund | 12905 |
|  MoA US Government Money Market Fund | 20890 |
|  MoA Intermediate Bond Fund | 35178 |
|  MoA Core Bond Fund | 88980 |
|  | $953750 |

---

Effective June 15, 2023, the Board authorized each Fund to pay up to $10 per account or up to 0.15% of average daily net assets for shareholder services, depending on the terms of the fee assessed by the financial intermediary. For certain distribution channels, the payment amount is set at a per account amount. If the charge exceeds $10 per account or 0.15% of average daily net assets, the excess is borne by the Adviser. These payments are in addition to the annual transfer agency fees paid by a Fund to the Transfer Agent, and may include payments to financial intermediaries that charge networking fees for certain services provided in connection with the maintenance of shareholder accounts through the NSCC. These shareholder servicing fees are recorded in Shareholder service fees on the Statements of Operations. Any portion of unpaid fee as of June 30, 2025, is included within Accrued Expenses on the Statements of Assets and Liabilities.

Effective November 1, 2024, each Target Date Fund pays a fee of 0.10% of the average daily net assets of such Fund's shares held through certain accounts in respect of which Mutual of America Life Insurance Company, the owner of the Adviser, provides recordkeeping and other shareholder services to underlying accounts. For the six months ended June 30, 2025, amounts incurred to Mutual of America Life Insurance Company were as follows:

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**3.** **EXPENSES (continued)** 

---

| | |
|:---|:---|
| **Fund** | |
|  MoA Retirement Income Fund . | $119692 |
|  MoA Clear Passage 2020 Fund | $218929 |
|  MoA Clear Passage 2025 Fund | $530868 |
|  MoA Clear Passage 2030 Fund | $690538 |
|  MoA Clear Passage 2035 Fund | $694307 |
|  MoA Clear Passage 2040 Fund | $597751 |
|  MoA Clear Passage 2045 Fund | $614800 |
|  MoA Clear Passage 2050 Fund | $484218 |
|  MoA Clear Passage 2055 Fund | $282215 |
|  MoA Clear Passage 2060 Fund | $159918 |
|  MoA Clear Passage 2065 Fund | $66192 |
|  MoA Clear Passage 2070 Fund | $12 |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459440 |

---

**4.** **INVESTMENTS** 

The cost of investment purchases and proceeds from sales of investments, excluding short-term securities and futures contracts, for the six months ended June 30, 2025, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity Index<br>Fund** | **MoA All America<br>Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index Fund** |
|  Cost of investment purchases | $44783644 | $25209808 | $89650155 | $80662686 | $28876883 |
|  Proceeds from sales of investments | $(280725671) | $(46188414) | $(96101935) | $(78554690) | $(53455582) |
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid Cap<br>Equity Index Fund** | **MoA Balanced<br>Fund** | **MoA International<br>Fund** | **MoA Catholic<br>Values Index Fund** |
|  Cost of investment purchases | $36174618 | $90097525 | $34182775 | $234326667 | $1218010 |
|  Proceeds from sales of investments | $(56012574) | $(169674186) | $(44299477) | $(194216901) | $(973117) |
|  | **MoA Retirement<br>Income Fund** | **MoA Clear<br>Passage 2020<br>Fund** | **MoA Clear<br>Passage 2025<br>Fund** | **MoA Clear<br>Passage 2030<br>Fund** | **MoA Clear<br>Passage 2035<br>Fund** |
|  Cost of investment purchases | $123407899 | $23429994 | $71901342 | $103564945 | $97432401 |
|  Proceeds from sales of investments | $(38305771) | $(66436158) | $(153013862) | $(135279076) | $(112831757) |
|  | **MoA Clear<br>Passage 2040<br>Fund** | **MoA Clear<br>Passage 2045<br>Fund** | **MoA Clear<br>Passage 2050<br>Fund** | **MoA Clear<br>Passage 2055<br>Fund** | **MoA Clear<br>Passage 2060<br>Fund** |
|  Cost of investment purchases | $86113471 | $81545779 | $71246592 | $54628089 | $42689143 |
|  Proceeds from sales of investments | $(96794071) | $(89510950) | $(85123705) | $(48603879) | $(27443398) |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2065<br>Fund** | **MoA Clear<br>Passage 2070<br>Fund** | **MoA Conservative<br>Allocation Fund** | **MoA Moderate<br>Allocation Fund** | **MoA Aggressive<br>Allocation Fund** |
|  Cost of investment purchases | $29723583 | $1612559 | $8243466 | $12548790 | $12426060 |
|  Proceeds from sales of investments | $(9801919) | $(106) | $(17070443) | $(38488422) | $(32100710) |
|  | **MoA Intermediate<br>Bond Fund** | **MoA Core Bond<br>Fund** |  |  |  |
|  Cost of investment purchases | $239768380 | $385788527 |  |  |  |
|  Proceeds from sales of investments . | $(264579453) | $(420309306) |  |  |  |

---

The cost of short-term security purchases for the MoA US Government Money Market Fund for the six months ended June 30, 2025, was $152,724,849; proceeds from sales for the same period were $(154,640,283).

The components of net unrealized appreciation (depreciation) of investments for federal income tax purposes and the cost of investments for federal income tax purposes at June 30, 2025, for each of the Funds were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity Index<br>Fund** | **MoA All America<br>Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index Fund** |
|  Unrealized Appreciation | $3298627104 | $103876742 | $72186101 | $101574873 | $35479215 |
|  Unrealized Depreciation | $(116130172) | $(11531950) | $(22631824) | $(31366408) | $(25186392) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $3182496932 | $92344792 | $49554277 | $70208465 | $10292823 |
|  Tax Cost of Investments | $2714807556 | $203675559 | $325244418 | $325291455 | $163208067 |
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid Cap<br>Equity Index Fund** | **MoA Balanced<br>Fund** | **MoA International<br>Fund** | **MoA Catholic<br>Values Index Fund** |
|  Unrealized Appreciation | $26998638 | $382024392 | $59274748 | $492081577 | $2742144 |
|  Unrealized Depreciation | $(12181457) | $(112989778) | $(3958799) | $(37627565) | $(224414) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $14817181 | $269034614 | $55315949 | $454454012 | $2517730 |
|  Tax Cost of Investments | $172410257 | $1169003188 | $145612751 | $1536807655 | $5793630 |
|  | **MoA Retirement<br>Income Fund** | **MoA Clear<br>Passage 2020**<br>**Fund** | **MoA Clear<br>Passage 2025**<br>**Fund** | **MoA Clear<br>Passage 2030**<br>**Fund** | **MoA Clear<br>Passage 2035**<br>**Fund** |
|  Unrealized Appreciation | $14884975 | $27375564 | $83153412 | $134210492 | $157525903 |
|  Unrealized Depreciation | $(1668084) | $(8715128) | $(10651467) | $(9911900) | $(12376388) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $13216891 | $18660436 | $72501945 | $124298592 | $145149515 |
|  Tax Cost of Investments | $289771501 | $414193887 | $1007177842 | $1324545812 | $1319730697 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2040**<br>**Fund** | **MoA Clear<br>Passage 2045**<br>**Fund** | **MoA Clear<br>Passage 2050**<br>**Fund** | **MoA Clear<br>Passage 2055**<br>**Fund** | **MoA Clear<br>Passage 2060**<br>**Fund** |
|  Unrealized Appreciation | $153137932 | $166923613 | $133980181 | $73384529 | $42257206 |
|  Unrealized Depreciation | $(14424060) | $(19558758) | $(13949502) | $(3101957) | $(386247) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $138713872 | $147364855 | $120030679 | $70282572 | $41870959 |
|  Tax Cost of Investments | $1132955781 | $1160712068 | $910177872 | $537205958 | $308174634 |
|  | **MoA Clear<br>Passage 2065**<br>**Fund** | **MoA Clear<br>Passage 2070**<br>**Fund** | **MoA Conservative<br>Allocation Fund** | **MoA Moderate<br>Allocation Fund** | **MoA Aggressive<br>Allocation Fund** |
|  Unrealized Appreciation | $16334467 | $88266 | $9273384 | $47761206 | $45988964 |
|  Unrealized Depreciation | $(30779) | $— | $(5127102) | $(11014091) | $(6157171) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $16303688 | $88266 | $4146282 | $36747115 | $39831793 |
|  Tax Cost of Investments | $135723713 | $1612457 | $145284704 | $356743803 | $294023109 |
|  | **MoA US<br>Government<br>Money Market**<br>**Fund** | **MoA Intermediate<br>Bond Fund** | **MoA Core Bond<br>Fund** |  |  |
|  Unrealized Appreciation | $— | $10440120 | $21529690 |  |  |
|  Unrealized Depreciation | $— | $(8156153) | $(128465867) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net | $— | $2283967 | $(106936177) |  |  |
|  Tax Cost of Investments | $533456658 | $881522020 | $2316916286 |  |  |

---

Differences between amounts reflected in the Statements of Assets and Liabilities and those computed for federal income tax purposes arise primarily from federal income tax treatment of wash sales, REITs, PFICs, partnerships, corporate actions and futures contracts.

The Target Date and the Conservative, Aggressive, and Moderate Allocation Funds are invested in affiliated funds of the Investment Company and receive dividend income and distributions of gains entirely from these affiliated funds. Realized gains and losses result from the disposition of shares of these underlying funds. The Target Date and the Conservative, Aggressive, and Moderate Allocation Funds also derive unrealized gains and losses entirely from these affiliated funds. Investments in affiliated investment companies during the six months ended June 30, 2025, were as follows:

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Investment**<br> **Company** | **Value as of<br>December 31,<br>2024** | **Purchases** | **Realized<br>Gain<br>(Loss) on<br>Investment<br>Securities** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investment<br>Securities** | **Sales** | **Value as of<br>June 30, 2025** | **Dividends** |
|  <br> MoA Retirement Income Fund | <br> MoA Retirement Income Fund | <br> MoA Retirement Income Fund | <br> MoA Retirement Income Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $71140536 | $45413974 | $(1844087) | $2286271 | $(11019566) | $105977128 | $1465345 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 44979253 | 24837229 | 867939 | 5793488 | (8519337) | 67958572 | 387270 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 61488957 | 34569285 | (1559474) | 1540850 | (12572397) | 83467221 | 1143933 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 9837148 | 5583100 | 328263 | 2821620 | (1564656) | 17005475 | 286392 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 8862182 | 5196704 | (211849) | (31565) | (1251723) | 12563749 | 87294 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 10594824 | 7306495 | 5296 | (8352) | (1882016) | 16016247 | 255286 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Affiliates not held at period end | 1039429 | 501112 | (74381) | 29916 | (1496076) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $207942329 | $123407899 | $(2488293) | $12432228 | $(38305771) | $302988392 | $3625520 |
|  <br> MoA Clear Passage 2020 Fund | <br> MoA Clear Passage 2020 Fund | <br> MoA Clear Passage 2020 Fund | <br> MoA Clear Passage 2020 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $166853693 | $9188464 | $(3984832) | $7851183 | $(21135936) | $158772572 | $2831231 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 113617748 | 2355653 | 4790976 | 431923 | (16361317) | 104834983 | 599916 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 92212617 | 5925835 | (1630352) | 3655961 | (12790619) | 87373442 | 1475088 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 30655704 | 1151652 | 370717 | 5910792 | (4189664) | 33899201 | 573972 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 21392394 | 449878 | (455946) | 251616 | (2267451) | 19370491 | 135164 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 22990170 | 929564 | 36 | (37) | (2836711) | 21083022 | 454847 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund |  | 2717706 | 5907 | 189821 | (215577) | 2697857 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 4977497 | 607750 | (330) | (195298) | (566864) | 4822755 | 29072 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Affiliates not held at period end | 6437174 | 103492 | (246819) | (221828) | (6072019) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $459136997 | $23429994 | $(1150643) | $17874133 | $(66436158) | $432854323 | $6099290 |
|  <br> MoA Clear Passage 2025 Fund | <br> MoA Clear Passage 2025 Fund | <br> MoA Clear Passage 2025 Fund | <br> MoA Clear Passage 2025 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $366272456 | $25360940 | $(8085954) | $16717192 | $(43284024) | $356980610 | $6219407 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 341117466 | 11104266 | 12749377 | 3462052 | (44704601) | 323728560 | 1844211 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 166623563 | 14988846 | (3325780) | 7040974 | (21248349) | 164079254 | 2669601 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 111232243 | 5555227 | 1180617 | 21662332 | (13034940) | 126595479 | 2131822 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 54059735 | 1784686 | (1075669) | 612925 | (5382168) | 49999509 | 347408 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 33421802 | 1773056 | 3182 | (3185) | (3829931) | 31364924 | 661918 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund |  | 10194780 | 12349 | 742705 | (420478) | 10529356 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 19027791 | 703883 | 35330 | (954144) | (2410765) | 16402095 | 98436 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Affiliates not held at period end | 19661798 | 435658 | (1000854) | (397996) | (18698606) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $1111416854 | $71901342 | $492598 | $48882855 | $(153013862) | $1079679787 | $13972803 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Investment**<br> **Company** | **Value as of<br>December 31,<br>2024** | **Purchases** | **Realized<br>Gain<br>(Loss) on<br>Investment<br>Securities** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investment<br>Securities** | **Sales** | **Value as of<br>June 30, 2025** | **Dividends** |
|  <br> MoA Clear Passage 2030 Fund | <br> MoA Clear Passage 2030 Fund | <br> MoA Clear Passage 2030 Fund | <br> MoA Clear Passage 2030 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $390432015 | $33098649 | $(7394970) | $16809591 | $(36411355) | $396533930 | $6797832 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 504712209 | 21465172 | 16347943 | 9517067 | (45384257) | 506658134 | 2874754 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 139728106 | 22598762 | (1744980) | 5091662 | (12264373) | 153409177 | 2327938 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 169447292 | 10405970 | 1239735 | 34539308 | (12826067) | 202806238 | 3400362 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 81817396 | 3574752 | (1066506) | 470847 | (5486193) | 79310296 | 548289 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 23339366 | 1276098 | 248368 | (596004) | (2097105) | 22170723 | 139198 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 41978338 | 2707082 | 5272 | (5282) | (3150283) | 41535127 | 853821 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 16222078 | 3752665 | (420010) | 590457 | (1291985) | 18853205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 26323582 | 4301561 | 196449 | (1156913) | (2097105) | 27567574 | 164663 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Affiliates not held at period end | 14751108 | 384234 | 207993 | (1072982) | (14270353) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $1408751490 | $103564945 | $7619294 | $64187751 | $(135279076) | $1448844404 | $17106857 |
|  <br> MoA Clear Passage 2035 Fund | <br> MoA Clear Passage 2035 Fund | <br> MoA Clear Passage 2035 Fund | <br> MoA Clear Passage 2035 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $305899807 | $30087876 | $(7866473) | $15369065 | $(28361481) | $315128794 | $5423855 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 586641436 | 28285710 | 17085692 | 13602522 | (47254186) | 598361174 | 3406133 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 70495892 | 5807047 | (68093) | 1671411 | (7006654) | 70899603 | 1167505 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 205989644 | 14074584 | 1563205 | 42339218 | (14625612) | 249341039 | 4195402 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 112896351 | 5289403 | (2333377) | 1516985 | (6675378) | 110693984 | 768286 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 19385718 | 1409088 | 146018 | (440571) | (1907251) | 18593002 | 117340 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 40906131 | 2923778 | 3674 | (3698) | (2865453) | 40964432 | 841508 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 14494694 | 751416 | 23844 | (798073) | (953628) | 13518253 | 105541 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 14908269 | 4336949 | (598796) | 856976 | (1274864) | 18228534 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 27625334 | 4466550 | (418234) | (615003) | (1907250) | 29151397 | 174802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $1399243276 | $97432401 | $7537460 | $73498832 | $(112831757) | $1464880212 | $16200372 |
|  <br> MoA Clear Passage 2040 Fund | <br> MoA Clear Passage 2040 Fund | <br> MoA Clear Passage 2040 Fund | <br> MoA Clear Passage 2040 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $169096294 | $21377447 | $(4430435) | $8702995 | $(17924658) | $176821643 | $3060309 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 542495016 | 26969897 | 13917637 | 14614085 | (44146357) | 553850278 | 3152665 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 47765986 | 4004697 | 124822 | 963540 | (4568601) | 48290444 | 790740 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 223696125 | 15532048 | 1451312 | 46310001 | (15475627) | 271513859 | 4568043 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 123957786 | 5949537 | (1327276) | 472542 | (7195267) | 121857322 | 845704 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 12607418 | 1210139 | 192332 | (379814) | (1598949) | 12031126 | 75953 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 23855846 | 1709171 | 3328 | (3328) | (1601630) | 23963387 | 490941 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 24345425 | 2320799 | 259635 | (1421794) | (1598947) | 23905118 | 186614 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 11637931 | 3756340 | (260220) | 501988 | (1085089) | 14550950 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 24161177 | 3283396 | 229474 | (1189575) | (1598946) | 24885526 | 149211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $1203619004 | $86113471 | $10160609 | $68570640 | $(96794071) | $1271669653 | $13320180 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Investment**<br> **Company** | **Value as of<br>December 31,<br>2024** | **Purchases** | **Realized<br>Gain<br>(Loss) on<br>Investment<br>Securities** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investment<br>Securities** | **Sales** | **Value as of<br>June 30, 2025** | **Dividends** |
|  <br> MoA Clear Passage 2045 Fund | <br> MoA Clear Passage 2045 Fund | <br> MoA Clear Passage 2045 Fund | <br> MoA Clear Passage 2045 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $123226478 | $17946177 | $(2117027) | $5343369 | $(11821365) | $132577632 | $2292750 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 581313604 | 27497005 | 15396300 | 15231555 | (43615530) | 595822934 | 3392555 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 36818921 | 2941974 | 53548 | 788636 | (3292660) | 37310419 | 613257 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 248154383 | 16637001 | 1656885 | 51558353 | (15982352) | 302024270 | 5082775 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 129653102 | 5928164 | 231178 | (1160205) | (7024923) | 127627316 | 886060 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 12901523 | 1163511 | 176685 | (375483) | (1492905) | 12373331 | 78157 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 24460724 | 1677508 | 1877 | (1877) | (1495653) | 24642579 | 505754 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 25435363 | 2280484 | 235568 | (1469052) | (1492903) | 24989460 | 195130 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 25656277 | 2664359 | (200428) | 28090 | (1646329) | 26501969 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 24062773 | 2809596 | 357885 | (1376911) | (1646330) | 24207013 | 145237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $1231683148 | $81545779 | $15792471 | $68566475 | $(89510950) | $1308076923 | $13191675 |
|  <br> MoA Clear Passage 2050 Fund | <br> MoA Clear Passage 2050 Fund | <br> MoA Clear Passage 2050 Fund | <br> MoA Clear Passage 2050 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $68221684 | $13016983 | $(1212846) | $3107927 | $(5737231) | $77396517 | $1320108 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 481464473 | 23991561 | 12730909 | 12587608 | (40024010) | 490750541 | 2794163 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 18771352 | 1649222 | 241372 | 80675 | (9082624) | 11659997 | 262894 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 198793102 | 13877814 | 1151990 | 41280849 | (14858614) | 240245141 | 4043077 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 110068888 | 5627781 | 70365 | (854891) | (7502559) | 107409584 | 745811 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 20844989 | 1512340 | 198224 | (510946) | (2082622) | 19961985 | 126011 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 19165531 | 1385826 | 1806 | (1808) | (1390556) | 19160799 | 393978 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 19636560 | 2075776 | (182315) | (732810) | (1388416) | 19408795 | 151557 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 19893082 | 3989438 | (357637) | 478582 | (1528538) | 22474927 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 19802614 | 4119851 | 249541 | (903206) | (1528535) | 21740265 | 130413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $976662275 | $71246592 | $12891409 | $54531980 | $(85123705) | $1030208551 | $9968012 |
|  <br> MoA Clear Passage 2055 Fund | <br> MoA Clear Passage 2055 Fund | <br> MoA Clear Passage 2055 Fund | <br> MoA Clear Passage 2055 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $33883271 | $8479968 | $(1283606) | $2243642 | $(4845569) | $38477706 | $669738 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 277155765 | 21064842 | 5767331 | 9117007 | (24359687) | 288745258 | 1641177 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 4620137 | 1032438 | 15088 | 91391 | (979564) | 4779490 | 78159 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 122294326 | 11863466 | 1452213 | 25010539 | (9209220) | 151411324 | 2543611 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 66902233 | 5182608 | (1530838) | 1068228 | (4682909) | 66939322 | 463819 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 11495985 | 1326678 | 147080 | (321206) | (1234447) | 11414090 | 71840 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 5503170 | 552401 | 867 | (869) | (412104) | 5643465 | 114749 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 16882873 | 1263131 | (74261) | (827451) | (1077849) | 16166443 | 126015 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 10953676 | 1895419 | (384442) | 364764 | (901266) | 11928151 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 11369576 | 1967138 | (219297) | (232872) | (901264) | 11983281 | 71720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $561061012 | $54628089 | $3890135 | $36513173 | $(48603879) | $607488530 | $5780828 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Investment**<br> **Company** | **Value as of<br>December 31,<br>2024** | **Purchases** | **Realized<br>Gain<br>(Loss) on<br>Investment<br>Securities** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investment<br>Securities** | **Sales** | **Value as of<br>June 30, 2025** | **Dividends** |
|  <br> MoA Clear Passage 2060 Fund | <br> MoA Clear Passage 2060 Fund | <br> MoA Clear Passage 2060 Fund | <br> MoA Clear Passage 2060 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $13286339 | $4997435 | $(604690) | $1005627 | $(3187680) | $15497031 | $278313 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 150776149 | 16648344 | 1605857 | 6937081 | (13304817) | 162662614 | 924463 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 1785988 | 720330 | 6760 | 37960 | (442915) | 2108123 | 32681 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 71327866 | 9535999 | (265455) | 16031708 | (5192658) | 91437460 | 1535984 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 39480043 | 4410086 | (542145) | 325659 | (2657498) | 41016145 | 284190 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 6800291 | 1076259 | 63904 | (160527) | (664375) | 7115552 | 44785 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 2884892 | 415514 | 541 | (544) | (221792) | 3078611 | 61543 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 9571405 | 1013594 | (161381) | (342672) | (565254) | 9515692 | 74170 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 6224129 | 1779699 | (110218) | 170216 | (542036) | 7521790 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 8996642 | 2091883 | (142331) | (189246) | (664373) | 10092575 | 60410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $311133744 | $42689143 | $(149158) | $23815262 | $(27443398) | $350045593 | $3296539 |
|  <br> MoA Clear Passage 2065 Fund | <br> MoA Clear Passage 2065 Fund | <br> MoA Clear Passage 2065 Fund | <br> MoA Clear Passage 2065 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $4236216 | $2065813 | $(21022) | $151260 | $(1323509) | $5108758 | $91535 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 59115627 | 12513635 | 1020959 | 2738389 | (4606602) | 70782008 | 400963 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 700701 | 355832 | 2630 | 16672 | (111404) | 964431 | 13517 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 27568337 | 6787582 | 212098 | 6180798 | (1799691) | 38949124 | 652250 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 14838791 | 3357525 | (44199) | 1236 | (955546) | 17197807 | 118700 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund | 3584935 | 1001046 | 8870 | (56433) | (272299) | 4266119 | 26766 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 1058341 | 291037 | 93 | (99) | (76868) | 1272504 | 24042 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund | 3745696 | 742820 | (1111) | (194472) | (195557) | 4097376 | 31860 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 3534032 | 1289957 | (16090) | 55837 | (230221) | 4633515 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 3799666 | 1318336 | (40687) | (91334) | (230222) | 4755759 | 28379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $122182342 | $29723583 | $1121541 | $8801854 | $(9801919) | $152027401 | $1388012 |
|  <br> MoA Clear Passage 2070 Fund | <br> MoA Clear Passage 2070 Fund | <br> MoA Clear Passage 2070 Fund | <br> MoA Clear Passage 2070 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $— | $32117 | $— | $244 | $(1) | $32360 | $70 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund |  | 724200 | 2 | 49769 | (35) | 773936 | 3138 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund |  | 16057 |  | 100 | (1) | 16156 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund |  | 405624 | 1 | 17468 | (19) | 423074 | 5034 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund |  | 225496 |  | 11617 | (10) | 237103 | 1166 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Value Fund |  | 48293 |  | 1690 | (2) | 49981 | 222 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund |  | 16125 |  |  | (31) | 16094 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Equity Index Fund |  | 32235 |  | 1669 | (2) | 33902 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund |  | 56082 | 1 | 3499 | (3) | 59579 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund |  | 56330 |  | 2210 | (2) | 58538 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $— | $1612559 | $4 | $88266 | $(106) | $1700723 | $10170 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**4.** **INVESTMENTS (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Investment**<br> **Company** | **Value as of<br>December 31,<br>2024** | **Purchases** | **Realized<br>Gain<br>(Loss) on<br>Investment<br>Securities** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investment<br>Securities** | **Sales** | **Value as of<br>June 30, 2025** | **Dividends** |
|  <br> MoA Conservative Allocation Fund | <br> MoA Conservative Allocation Fund | <br> MoA Conservative Allocation Fund | <br> MoA Conservative Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $52140498 | $3507799 | $(875165) | $2095287 | $(4920059) | $51948360 | $662971 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 41769781 | 1028781 | 2225935 | (150037) | (6795033) | 38079427 | 217370 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 37179369 | 1372185 | (401539) | 1227125 | (3259254) | 36117886 | 839800 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 7571882 | 305822 | 29666 | 1552288 | (698435) | 8761223 | 147667 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 8081097 | 210515 | 5532 | (70893) | (698438) | 7527813 | 52359 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA US Government Money Market Fund | 5877137 | 1818364 | (706) | 706 | (699224) | 6996277 | 139146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $152619764 | $8243466 | $983723 | $4654476 | $(17070443) | $149430986 | $2059313 |
|  <br> MoA Moderate Allocation Fund | <br> MoA Moderate Allocation Fund | <br> MoA Moderate Allocation Fund | <br> MoA Moderate Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $91785740 | $6553015 | $(1563031) | $3748501 | $(8626999) | $91897226 | $1590350 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 148225457 | 2154425 | 6676619 | 698309 | (16120988) | 141633822 | 806692 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund | 55076879 | 1460939 | (473567) | 1691159 | (5152663) | 52602747 | 883340 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 59138210 | 1721965 | 276376 | 12006058 | (5152663) | 67989946 | 1144366 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 42502638 | 658446 | 101391 | (460189) | (3435109) | 39367177 | 273379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $396728924 | $12548790 | $5017788 | $17683838 | $(38488422) | $393490918 | $4698127 |
|  <br> MoA Aggressive Allocation Fund | <br> MoA Aggressive Allocation Fund | <br> MoA Aggressive Allocation Fund | <br> MoA Aggressive Allocation Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Core Bond Fund | $46620937 | $3142726 | $(670948) | $1778708 | $(3783106) | $47088317 | $809739 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Equity Index Fund | 126098497 | 1479007 | 5586069 | 804362 | (10832274) | 123135661 | 702035 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Intermediate Bond Fund |  | 5043217 | 370 | 53569 | (336399) | 4760757 | 16181 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA International Fund | 61002250 | 1628773 | 906934 | 11766352 | (4994133) | 70310176 | 1184789 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Mid Cap Equity Index Fund | 67914687 | 821934 | (1465098) | 662887 | (9657732) | 58276678 | 404986 |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Growth Fund | 16972171 | 110996 | (54755) | (213159) | (1248533) | 15566720 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MoA Small Cap Value Fund | 16561074 | 199407 | (268956) | (526399) | (1248533) | 14716593 | 88411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $335169616 | $12426060 | $4033616 | $14326320 | $(32100710) | $333854902 | $3206141 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**5.** **CAPITAL SHARE ACTIVITY** 

The Investment Company has registered an indefinite number of its capital shares pursuant to Rule 24f-2 under the Investment Company Act of 1940. As of June 30, 2025, shares authorized at par value $0.01 per share were allocated into the 28 series of Funds as follows:

---

| | |
|:---|:---|
|  | **Authorized No. of Shares** |
|  | **Total Shares**<br>**Allocated** |
|  MoA Equity Index Fund | 900000000 |
|  MoA All America Fund | 200000000 |
|  MoA Small Cap Value Fund | 475000000 |
|  MoA Small Cap Growth Fund | 570000000 |
|  MoA Small Cap Equity Index Fund | 200000000 |
|  MoA Mid Cap Value Fund | 100000000 |
|  MoA Mid Cap Equity Index Fund | 1050000000 |
|  MoA Balanced Fund | 150000000 |
|  MoA International Fund | 1275000000 |
|  MoA Catholic Values Index Fund | 100000000 |
|  MoA Retirement Income Fund | 270000000 |
|  MoA Clear Passage 2020 Fund | 665000000 |
|  MoA Clear Passage 2025 Fund | 1025000000 |
|  MoA Clear Passage 2030 Fund | 915000000 |
|  MoA Clear Passage 2035 Fund | 845000000 |
|  MoA Clear Passage 2040 Fund | 685000000 |
|  MoA Clear Passage 2045 Fund | 675000000 |
|  MoA Clear Passage 2050 Fund | 470000000 |
|  MoA Clear Passage 2055 Fund | 350000000 |
|  MoA Clear Passage 2060 Fund | 200000000 |
|  MoA Clear Passage 2065 Fund | 100000000 |
|  MoA Clear Passage 2070 Fund | 200000000 |
|  MoA Conservative Allocation Fund | 215000000 |
|  MoA Moderate Allocation Fund | 370000000 |
|  MoA Aggressive Allocation Fund | 265000000 |
|  MoA US Government Money Market Fund | 5000000000 |
|  MoA Intermediate Bond Fund | 840000000 |
|  MoA Core Bond Fund | 1525000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 19635000000 |

---

**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION** 

Each Fund generally declares dividends at least annually to pay out substantially all of the Fund's net investment income and net realized short and long term capital gains. All dividends and capital gains distributions are reinvested in additional shares of the distributing Fund, unless a shareholder elects to receive dividends and distributions in cash.

Pursuant to shareholders' election, substantially all dividend distributions throughout 2024 and 2023 were immediately reinvested into their respective Funds. The tax character of the distributions paid during 2024 and 2023 were as follows:

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity<br>Index Fund** | **MoA All America<br>Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index<br>Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $83571629 | $3745161 | $4649807 | $— | $3777165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $74340507 | $3229269 | $6233886 | $— | $3041639 |
|  <u>Long-Term Capital Gains</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $420951063 | $29593332 | $18568748 | $6326238 | $7279635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $198553132 | $24273979 | $18658025 | $313463 | $2702262 |
|  <u>Return of Capital</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— | $— | $— |
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid Cap<br>Equity Index<br>Fund** | **MoA Balanced<br>Fund** | **MoA<br>International<br>Fund** | **MoA Catholic<br>Values Index<br>Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $3599134 | $44457706 | $4378844 | $60672335 | $95676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $1643172 | $23962599 | $3840541 | $71735676 | $67635 |
|  <u>Long-Term Capital Gains</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $7858300 | $93957240 | $12282692 | $— | $220336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $2335943 | $103819957 | $7280078 | $— | $71915 |
|  <u>Return of Capital</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— | $— | $— |
|  | **MoA Retirement<br>Income Fund** | **MoA Clear<br>Passage 2020<br>Fund** | **MoA Clear<br>Passage 2025<br>Fund** | **MoA Clear<br>Passage 2030<br>Fund** | **MoA Clear<br>Passage 2035<br>Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $6404379 | $14426941 | $32281142 | $37237314 | $34210106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $4925605 | $12236139 | $27254324 | $29856781 | $27573276 |
|  <u>Long-Term Capital Gains</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $4361058 | $13783178 | $48223524 | $60963687 | $79102393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $1508309 | $10663322 | $30144200 | $44040437 | $37463162 |
|  <u>Return of Capital</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— | $— | $— |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2040<br>Fund** | **MoA Clear<br>Passage 2045<br>Fund** | **MoA Clear<br>Passage 2050**<br>**Fund** | **MoA Clear<br>Passage 2055**<br>**Fund** | **MoA Clear<br>Passage 2060**<br>**Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $27998069 | $27740440 | $21149820 | $11811727 | $6390056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $22653940 | $23182679 | $17703503 | $9386631 | $4626021 |
|  <u>Long-Term Capital Gains</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $72373457 | $76904073 | $46765916 | $25457388 | $12329077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $35943857 | $38258264 | $33837820 | $11465643 | $4962136 |
|  <u>Return of Capital</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— | $— | $— |
|  | **MoA Clear<br>Passage 2065<br>Fund** | **MoA Clear<br>Passage 2070<br>Fund** | **MoA<br>Conservative<br>Allocation Fund** | **MoA Moderate<br>Allocation Fund** | **MoA Aggressive<br>Allocation Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $2388456 | $— | $4679272 | $11029871 | $8204337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $1318993 | $— | $3632321 | $9026965 | $7293393 |
|  <u>Long-Term Capital Gains</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $2839983 | $— | $3576751 | $23413264 | $19975976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $857128 | $— | $1961071 | $16479762 | $18588414 |
|  <u>Return of Capital</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— | $— | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **MoA US<br>Government<br>Money Market<br>Fund** | **MoA**<br>**Intermediate**<br> **Bond Fund** | **MoA Core**<br> **Bond<br>Fund** |
|  <u>Ordinary Income(a)</u> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $26397139 | $33803865 | $82791259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $21370350 | $20734790 | $56075190 |
|  <u>Long-Term Capital Gains</u> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— |
|  <u>Return of Capital</u> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— | $31724 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— | $— | $— |

---

Notes:

(a) Includes distributions from Fund-level net short-term capital gains.

*Undistributed net income and gains (losses)* — As of December 31, 2024, undistributed net income and undistributed accumulated gain (loss) for federal income tax purposes were as follows:

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Equity<br>Index Fund** | **MoA All America<br>Fund** | **MoA Small Cap<br>Value Fund** | **MoA Small Cap<br>Growth Fund** | **MoA Small Cap<br>Equity Index Fund** |
|  Accumulated undistributed net investment income | $1839551 | $36267 | $— | $— | $112846 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $130469319 | $12013882 | $3925555 | $2472078 | $1724227 |
|  Post-October Capital Loss Deferred | $— | $— | $(2508535) | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $3058735217 | $&nbsp;&nbsp;&nbsp;&nbsp;96024829 | $&nbsp;&nbsp;&nbsp;&nbsp;72923389 | $&nbsp;&nbsp;&nbsp;&nbsp;67887388 | $&nbsp;&nbsp;&nbsp;&nbsp;18155842 |
|  | **MoA Mid Cap<br>Value Fund** | **MoA Mid Cap<br>Equity Index Fund** | **MoA Balanced<br>Fund** | **MoA International<br>Fund** | **MoA Catholic<br>Values Index Fund** |
|  Accumulated undistributed net investment income | $— | $8396320 | $365872 | $623382 | $8695 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $3423499 | $7435244 | $4463369 | $(87991066) | $27552 |
|  Post-October Capital Loss Deferred | $— | $— | $— | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $29113534 | $314801978 | $51279375 | $117461792 | $2191871 |
|  | **MoA Retirement<br>Income Fund** | **MoA Clear<br>Passage 2020**<br>**Fund** | **MoA Clear<br>Passage 2025**<br>**Fund** | **MoA Clear<br>Passage 2030**<br>**Fund** | **MoA Clear<br>Passage 2035**<br>**Fund** |
|  Accumulated undistributed net investment income | $— | $34148 | $27214 | $946 | $7701 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $4041755 | $12051814 | $37178641 | $51572242 | $59386172 |
|  Post-October Capital Loss Deferred | $— | $— | $— | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $(15306078) | $(20706329) | $(22579145) | $24471439 | $48699189 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **MoA Clear<br>Passage 2040<br>Fund** | **MoA Clear<br>Passage 2045<br>Fund** | **MoA Clear<br>Passage 2050<br>Fund** | **MoA Clear<br>Passage 2055<br>Fund** | **MoA Clear<br>Passage 2060<br>Fund** |
|  Accumulated undistributed net investment income | $6644 | $6803 | $3660 | $7986 | $2795 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $54893661 | $60194111 | $49673897 | $27584495 | $14523188 |
|  Post-October Capital Loss Deferred | $— | $— | $— | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55587021 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66930652 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56814636 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27324030 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13684841 |
|  | **MoA Clear<br>Passage 2065<br>Fund** | **MoA Clear<br>Passage 2070<br>Fund** | **MoA Conservative<br>Allocation Fund** | **MoA Moderate<br>Allocation Fund** | **MoA Aggressive<br>Allocation Fund** |
|  Accumulated undistributed net investment income | $— | $— | $— | $2798 | $323 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $5552224 | $— | $3336515 | $14502496 | $14601661 |
|  Post-October Capital Loss Deferred | $— | $— | $— | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $5113856 | $— | $(5693144) | $11498200 | $20896480 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **MoA US<br>Government<br>Money Market<br>Fund** | **MoA Intermediate<br>Bond Fund** | **MoA Core Bond<br>Fund** |
|  Accumulated undistributed net investment income | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347846 | $— | $96442 |
|  Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $— | $(55184599) | $(142314719) |
|  Post-October Capital Loss Deferred | $— | $— | $— |
|  Net unrealized appreciation (depreciation) of investments and futures contracts | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17885880) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(155869118) |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**6.** **DISTRIBUTIONS TO SHAREHOLDERS AND INCOME TAX INFORMATION (continued)** 

The difference between the components of distributable earnings for income tax purposes and the amounts reflected in the statements of assets and liabilities arise primarily from federal income tax treatment of wash sales, REITs, PFICs, partnerships, corporate actions and futures contracts.

Reclassifications: U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. For the year ended December 31, 2024, the Funds reclassified amounts primarily relating to tax treatment of paydowns, REITs, PFICs, prior year post financial statement adjustments and tax equalization. These reclassifications have no effect on net assets or net asset values per share.

**7.** **MERGER** 

On April 25, 2025, the MoA Clear Passage 2015 Fund (the "Target Fund"), was reorganized into the MoA Retirement Income Fund (the "Surviving Fund") in accordance with an Agreement and Plan of Reorganization (the "Agreement") made on November 7, 2024. The Agreement provided for the transfer of all assets of the Target Fund for shares of the Surviving Fund and the assumption of the liabilities of the Target Fund by the Surviving Fund. The Target Fund then ceased operations.

On the reorganization date, the Target Fund had the following total investment cost and value, representing the principal assets acquired by the Surviving Fund:

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| | | | |
|:---|:---|:---|:---|
| **Target Fund** | **Total Investment<br>Value** | **Total Investment<br>Cost** | **Unrealized Loss<br>on Investments** |
|  MoA Clear Passage 2015 Fund | $100630864 | $101930709 | $(1299845) |

---

The purpose of the transaction was to combine two portfolios with substantially similar investment objectives and policies.

The acquisition was accomplished by the transfer of the portfolio holdings of MoA Clear Passage 2015 Fund on a tax-free basis to MoA Retirement Income Fund in exchange for 9,018,946 shares of MoA Retirement Income Fund, which were subsequently distributed to shareholders of MoA Clear Passage 2015 Fund, making them shareholders of MoA Retirement Income Fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Target Fund** | **Shares** | **Surviving Fund** | **Shares** | **Value** |
|  MoA Clear Passage 2015 Fund | 11887100 | MoA Retirement Income Fund | 9018946 | $100630864 |

---

For financial reporting purposes, assets received and shares issued by the Surviving Fund, including the associated cost basis of the acquired investments, were recorded at fair value.

The net assets and unrealized appreciation immediately before the acquisition were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Target Fund** | **Net Assets** | **Unrealized<br>Depreciation<br>on Investments** | **Surviving Fund** | **Net Assets** |
|  MoA Clear Passage 2015 Fund | $100617126 | $(1299845) | MoA Retirement Income Fund | $197136094 |

---

------

#### MoA FUNDS

#### NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

#### June 30, 2025
**7.** **MERGER (continued)** 

Assuming the acquisition had been completed on January 01, 2025, the Surviving Fund's unaudited pro forma results of operations for the six months ended June 30, 2025, would have been as follows:

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| | | | |
|:---|:---|:---|:---|
| **Surviving Fund** | **Net Investment<br>Income(a)** | **Net Realized and<br>Unrealized Gain<br>on Investments(b)** | **Net Increase<br>in Net Assets<br>Resulting from<br>Operations** |
|  MoA Retirement Income Fund | $3952204 | $11197506 | $15150010 |

---

(a) Net investment income (loss) as reported in the Statement of Operations (Six months ended June 30, 2025) of the Surviving Fund, plus net investment income from the Target Fund pre-merger were as follows:

---

| | |
|:---|:---|
| **Target Fund** | **Net Investment<br>Income (Loss)** |
|  MoA Clear Passage 2015 Fund | $634121 |

---

(b) Net realized and unrealized gain (loss) on investments as reported in the Statement of Operations (Six months ended June 30, 2025) of the Surviving Fund, plus net unrealized gain (loss) on investments from the Target Fund pre-merger were as follows:

---

| | |
|:---|:---|
| **Target Fund** | **Net Realized<br>and Change<br>in Unrealized<br>Gain (Loss) on<br>Investments** |
|  MoA Clear Passage 2015 Fund | $(45974) |

---

Since both the Target Fund and Surviving Fund sold and redeemed shares throughout the period, it is not practicable to provide pro-forma information on a per share basis.

Since the combined investment fund had been managed as a single integrated fund since the acquisition was completed, it is also not practicable to separate the amounts of the revenue and earnings of the Target Fund that have been included in the Surviving Fund's Statement of Operations since April 25, 2025.

**8.** **SUBSEQUENT EVENTS** 

Management, on behalf of the Investment Company, has evaluated the need for disclosures and/or adjustments to the financial statements from subsequent events. As a result of this evaluation, no additional subsequent events require disclosure and/or adjustment to the financial statements.

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#### MoA FUNDS

#### ADDITIONAL INFORMATION

#### Quarterly Portfolio Schedules
Included in this Semi-Annual Report are schedules of Investment Company's Fund portfolio holdings as of June 30, 2025. The Investment Company files complete schedules of Fund portfolio holdings, excluding the Money Market Fund, with the Securities and Exchange Commission ("SEC") for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Investment Company Fund portfolio holdings are also available for the first and third quarters of the most recent fiscal year through the website, mutualofamerica. com.

The MoA US Government Money Market Fund files its complete schedule of portfolio holdings with the SEC each month on Form N-MFP. The Fund portfolio holdings for the prior six months are also available through the website, mutualofamerica.com.

The Form N-PORT and Form N-MFP are available on the SEC's website at sec.gov.

#### Proxy Voting Policies and Procedures
A copy of the Investment Company's proxy voting policies and procedures can be obtained free of charge by calling 800.914.8716 or by visiting moafunds.com. It is also available on the SEC's website at sec.gov.

Information regarding how the Investment Company voted proxies relating to portfolio securities during the 12-month period ended June 30, 2025 is available without charge by calling 800.914.8716 or by visiting moafunds.com. It is also available on the SEC website.

#### Code of Ethics
The Investment Company has adopted a Code of Ethics that complies with Rule 17j-1 of the Investment Company Act of 1940 and with the requirements of the Sarbanes-Oxley Act of 2002. A copy of the Code of Ethics is available free of charge, upon request. To obtain a free copy of the Code of Ethics, please call 212.224.1769 or write to:

Mr. Kyle Medlin

Chief Compliance Officer

MoA Funds Corporation

320 Park Avenue

New York, NY 10022-6839

#### Renewal of the Funds' Investment Advisory Agreements
At a meeting held in February 2025, the Board of Directors (the "Board" or the "Directors") of MoA Funds Corporation (the "Corporation") approved the continuation of the investment advisory agreements (the "Advisory Agreements") between Mutual of America Capital Management LLC ("Capital Management") and the Corporation with respect to each series of the Corporation (each series, a "Fund" and collectively, the "Funds"). The Board also approved, for an initial tow-year term, the Advisory Agreement (the "2070 Fund Advisory Agreement") between Capital Management and the Corporation with respect to the MoA Clear Passage 2070 Fund. The approvals included by the Directors who are not "interested persons" (as defined in the Investment Company Act of 1940, as amended (the "1940 Act")) of the Funds (the "Independent Directors") voting separately.

The Directors' determination to approve the 2070 Fund Advisory Agreement and the continuation of the Advisory Agreements was made on the basis of each Director's business judgment after an evaluation of all of the information provided to the Directors, including information provided for their consideration at their February 2025 meeting with management and at meetings held in the period leading up to that February 2025 meeting, including portions held outside the presence of management, specifically to review and consider materials related to the proposed continuation of the Advisory Agreements and the proposed approval of the 2070 Fund Advisory Agreement.

The Directors also meet regularly with investment advisory, compliance, operational, and other personnel

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from Capital Management and regularly review detailed information, presented both orally and in writing, regarding the services performed by Capital Management for the benefit of the Funds, Capital Management's investment program for each Fund, the performance of each Fund, the fees and expenses of each Fund, and the operations of each Fund. In considering whether to approve the 2070 Fund Advisory Agreement and the continuation of the Advisory Agreements, each Director took into account information presented to him or her in the past, including over the course of the prior year, to the extent he or she deemed relevant.

This summary describes a number, but not necessarily all, of the most important factors considered by the Board and the Independent Directors. Individual Directors may have given different weights to certain factors and assigned various degrees of materiality to information received in connection with the approval process. No single factor was determined to be decisive or controlling. In all their deliberations at the February 2025 meeting, the Independent Directors were advised by independent counsel.

*Nature, Extent and Quality of Services.* The Directors considered the nature, extent, and quality of the services provided and expected to be provided by Capital Management to each Fund, including the expertise and experience of its investment personnel. In this regard, the Directors considered that Capital Management provides a full investment program for the Funds. In their evaluation of the services provided by Capital Management and the Funds' contractual relationships with Capital Management, the Directors considered generally the performance record of Capital Management's portfolio management personnel, including, where applicable, the long-term performance record of the Funds.

The Directors considered that the 2070 Fund Advisory Agreement would have identical terms to the existing Advisory Agreements for the other MoA Clear Passage Funds. The Directors noted management's representation that the scope, quality and nature of the services provided for the MoA Clear Passage 2070 Fund would be substantially the same as for the other MoA Clear Passage Funds.

The Directors also reviewed reports that compared, among other information, each Fund's management fee rate and total expense ratio against the management fee rate and total expense ratio of a group of peers maintained by Morningstar, Inc. ("Morningstar"), and each Fund's performance records for various periods ended December 31, 2024, including the one-year, three-year, five-year (where applicable) and ten-year (where applicable) periods, against the performance records of those funds in each Fund's Morningstar category and the performance of one or more broad-based indices. Where applicable, the Directors inquired about and considered the factors cited by Capital Management that contributed to the underperformance of a Fund relative to its peer group.

The Directors also considered that Capital Management provides a variety of other services to the Funds in addition to investment advisory services, including certain administrative services (for which Capital Management receives separate compensation). The Directors considered Capital Management's ongoing efforts to keep the Directors informed about matters relevant to the Funds and their shareholders. The Directors also considered the nature and structure of the Funds' compliance program. The Directors considered the quality of those non-investment advisory services and determined that their quality appeared to support the continuation of the Funds' arrangements with Capital Management.

*Performance.* The Directors evaluated each Fund's performance history against that of the peer group(s) presented. The Directors noted those Funds that generally had strong performance relative to their peer groups over most or all of the periods presented. The Directors also considered that more than half of the Funds were rated at least four stars by Morningstar, with only three Funds rated two stars as of December 31, 2024. The Directors additionally considered the Funds' Lipper overall rankings, noting that, as of December 31, 2024, Lipper had rated 12 Funds as Lipper Leaders with a score of 5 (ranking within the top 20 percent of funds in their category) and had rated 11 other Funds as 3 or 4 (each representing the next 20 percent of funds in their category).

In respect of those Funds with relative underperformance over certain periods, including the MoA All America Fund, MoA Small Cap Growth Fund, MoA Mid Cap Value Fund, and MoA Intermediate Bond Fund, the Directors considered in each case that Fund's long-term performance as well as the reasons that Capital Management provided for the relative underperformance, including any information Capital Management provided regarding differences between a Fund's investment strategies and/or investment positioning (e.g., duration) and those of the

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bulk of its peer group. The Directors noted in this regard that the investment positioning and other explanations provided by Capital Management for relative underperformance were in each case consistent with the relevant Fund's principal investment strategies and the relevant portfolio management team's investment approach. The Directors also considered information they had been provided regarding recent process improvements implemented by the portfolio manager of the MoA Small Cap Growth Fund and how those efforts might improve the Funds' performance. The Directors considered that, in the second quarter of 2025, the MoA Clear Passage 2015 Fund was expected to be merged into the MoA Retirement Income Fund. In addition, in respect of those Funds that seek to approximate the performance of an index, the Directors considered the Fund's level of tracking error and Capital Management's prior comments on the level of that tracking error and the explanation of the contributors to that tracking error.

The Directors noted that the MoA Clear Passage 2070 Fund would be managed in line with the existing MoA Clear Passage Funds' principal investment strategies and the existing glide path. The Directors considered the performance history of the MoA Clear Passage Funds as well as their profitability and noted that sun information could be used to evaluate the proposed 2070 Fund Advisory Agreement for the MoA Clear Passage 2070 Fund.

*Relative Levels of the Advisory Fees.* The Directors also compared the investment advisory fees of the Funds against peer groups determined by Morningstar. The Directors considered that the management fee and total expense ratio comparisons indicated that the overwhelming majority of the Funds' fees were at or below the median of their peers and in the first or second quartile of the peers presented. The Directors also considered that in the few instances where a Fund had an investment advisory fee above the median or in the third or fourth quartile of the peer group, that the Fund's advisory fee was within six basis points or fewer of the median of that group. In addition, the Directors considered information from Capital Management regarding the breadth of the peer groups used and the limited number of close peers for certain Funds, such as for the MoA Catholic Values Index Fund.

The Directors considered materials relating to the fees charged by Capital Management to Institutional separate accounts for which Capital Management employs investment strategies substantially similar to one or more of the Funds' Investment strategies. The Directors reviewed the management fees that Capital Management charged to its other clients with investment strategies substantially similar to those of a Fund, noting that the level of the Fund's' fees appeared reasonable relative to the fees charged to those other accounts in light of the information they were provided regarding the greater level of services the Funds require and the greater level of risk that Capital Management incurs in sponsoring and managing the Funds relative to separate accounts.

*Profitability.* The Directors considered Capital Management's profitability in respect of its investment advisory arrangements with each Fund, noting information provided by Capital Management as to the methods it used, and the assumptions it made, in estimating its profitability on a Fund-by-Fund basis. As part of their considerations, the Directors considered the various other methodologies that could be used to allocate Capital Management's costs on a Fund-by-Fund basis and how different approaches might lead to different levels of profitability shown for each Fund. The Directors also considered Capital Management's profitability relative to their understanding of the range of profit margins achieved by other investment advisers in the industry. The Directors noted Capital Management's continued commitment to all of the Funds, including those with limited or no profitability.

The Directors also considered Capital Management's pricing philosophy generally, noting that Capital Management seeks to maintain competitive management fees that will support strong relative performance for the Funds over time. The Directors also considered the investments made by Capital Management into its operations and staff in prior years to better support the Funds from both an operational and investment performance perspective.

*Fall-out Benefits.* The Directors considered in their evaluation of the proposed renewal of the Advisory Agreements and the proposed approval of the 2070 Fund Advisory Agreement information about both the direct and the indirect benefits to Capital Management from managing the Funds, including, among other things, the ability to offer related retirement products, the scale that the Funds provided in respect of Capital Management and its advisory business generally, the payments or reimbursements that Capital Management (or its affiliates) received from the Funds for certain non-advisory services, and the soft dollar credits that the Funds' trading activity generate and that can be used to purchase research or other services that benefit Capital Management,

------

potentially reducing Capital Management's expenses and furthering its overall advisory business.

*Economies of Scale.* In their evaluation of economies of scale, the Directors considered, among other things, the pricing of the Funds and Capital Management's reported estimated profitability. They noted also that none of the Funds had breakpoints in its advisory fee schedule. The Directors considered that, generally, Capital Management had investment advisory fees that compared quite favorably to the median of the peers presented, even for those Funds that had not achieved significant scale. The Directors considered that the investment advisory fees were set at a rate that was attractive relative to the rates of many of the Funds' peers and would appear, as a result, to have the effect of sharing benefits of economies of scale with shareholders even before some of the Funds had achieved significant scale. The Directors noted also that nearly all of the Funds that had attained significant scale had management fees below or near the median of the peers presented. The Directors separately noted also that Capital Management had agreed to continue in place the expense limitation arrangements for a number of the Funds at current levels for an additional one-year period. The Directors also noted Capital Management's statement that the Funds are priced competitively, but that Capital Management would be willing to consider implementing breakpoints for certain Funds in the future if assets were to grow significantly from their current levels. The Directors concluded that it was not necessary at the present time to implement breakpoints for any of the Funds.

*Conclusions.* On the basis of these considerations as well as others and in the exercise of their business judgment, the Directors determined that they were satisfied with the nature, extent, and quality of the services provided to each Fund under its Advisory Agreement; that it appeared that the management fees paid by each Fund to Capital Management were generally within the range of management fees paid by the peer groups presented, and generally reasonable in light of the services provided, the quality of the portfolio management teams, and each Fund's performance history; that the information provided regarding the estimated profitability to Capital Management of its relationships with the Funds generally did not appear excessive or such as to preclude continuation of any Fund's Advisory Agreement; that the absence of breakpoints in any Fund's management fee did not render that Fund's fee unreasonable or inappropriate under the circumstances; and that it would be appropriate to approve each Fund's Advisory Agreement for an additional one-year period and approve the 2070 Fund's Advisory Agreement for an initial two-year period.

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#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The Fund's disclosure of remuneration items is included as part of the MoA Financial Statements and Additional Information filed under Item 7 of this form.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

#### Renewal of the Funds' Investment Advisory Agreements and Approval of the MoA Clear Passage 2070 Fund's Investment Advisory Agreement
At a meeting held in February 2025, the Board of Directors (the "Board" or the "Directors") of MoA Funds Corporation (the "Corporation") approved the continuation of the investment advisory agreements (the "Advisory Agreements") between Mutual of America Capital Management LLC ("Capital Management") and the Corporation with respect to each series of the Corporation (each series, a "Fund" and collectively, the "Funds"). The Board also approved, for an initial two-year term, the Advisory Agreement (the "2070 Fund Advisory Agreement") between Capital Management and the Corporation with respect to the MoA Clear Passage 2070 Fund. The approvals included approvals by the Directors who are not "interested persons" (as defined in the Investment Company Act of 1940, as amended (the "1940 Act")) of the Funds (the "Independent Directors") voting separately.

The Directors' determination to approve the 2070 Fund Advisory Agreement and the continuation of the Advisory Agreements was made on the basis of each Director's business judgment after an evaluation of all of the information provided to the Directors, including information provided for their consideration at their February 2025 meeting with management and at meetings held in in the period leading up to that February 2025 meeting, including portions held outside the presence of management, specifically to review and consider materials related to the proposed continuation of the Advisory Agreements and the proposed approval of the 2070 Fund Advisory Agreement.

The Directors also meet regularly with investment advisory, compliance, operational, and other personnel from Capital Management and regularly review detailed information, presented both orally and in writing, regarding the services performed by Capital Management for the benefit of the Funds, Capital Management's investment program for each Fund, the performance of each Fund, the fees and expenses of each Fund, and the operations of each Fund. In considering whether to approve the 2070 Fund Advisory Agreement and the continuation of the Advisory Agreements, each Director took into account information presented to him or her in the past, including over the course of the prior year, to the extent he or she deemed relevant.

This summary describes a number, but not necessarily all, of the most important factors considered by the Board and the Independent Directors. Individual Directors may have given different weights to certain factors and assigned various degrees of materiality to information received in connection with the approval process. No single factor was determined to be decisive or controlling. In all their deliberations at the February 2025 meeting, the Independent Directors were advised by independent counsel.

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*Nature, Extent and Quality of Services*. The Directors considered the nature, extent, and quality of the services provided and expected to be provided by Capital Management to each Fund, including the expertise and experience of its investment personnel. In this regard, the Directors considered that Capital Management provides a full investment program for the Funds. In their evaluation of the services provided by Capital Management and the Funds' contractual relationships with Capital Management, the Directors considered generally the performance record of Capital Management's portfolio management personnel, including, where applicable, the long-term performance record of the Funds.

The Directors considered that the 2070 Fund Advisory Agreement would have identical terms to the existing Advisory Agreements for the other MoA Clear Passage Funds. The Directors noted management's representation that the scope, quality and nature of the services provided for the MoA Clear Passage 2070 Fund would be substantially the same as for the other MoA Clear Passage Funds.

The Directors also reviewed reports that compared, among other information, each Fund's management fee rate and total expense ratio against the management fee rate and total expense ratio of a group of peers maintained by Morningstar, Inc. ("Morningstar"), and each Fund's performance records for various periods ended December 31, 2024, including the one-year, three-year, five-year (where appliable) and ten-year (where applicable) periods, against the performance records of those funds in each Fund's Morningstar category and the performance of one or more broad-based indices. Where applicable, the Directors inquired about and considered the factors cited by Capital Management that contributed to the underperformance of a Fund relative to its peer group.

The Directors also considered that Capital Management provides a variety of other services to the Funds in addition to investment advisory services, including certain administrative services (and for which Capital Management receives separate compensation). The Directors considered Capital Management's ongoing efforts to keep the Directors informed about matters relevant to the Funds and their shareholders. The Directors also considered the nature and structure of the Funds' compliance program. The Directors considered the quality of those non-investment advisory services and determined that their quality appeared to support the continuation of the Funds' arrangements with Capital Management.

*Performance*. The Directors evaluated each Fund's performance history against that of the peer group(s) presented. The Directors noted those Funds that generally had strong performance relative to their peer groups over most or all of the periods presented. The Directors also considered that more than half of the Funds were rated at least four stars by Morningstar, with only three Funds rated two stars as of December 31, 2024. The Directors additionally considered the Funds' Lipper overall rankings, noting that, as of December 31, 2024, Lipper had rated 12 Funds as Lipper Leaders with a score of 5 (ranking within the top 20 percent of funds in their category) and had rated 11 other Funds as 3 or 4 (each representing the next 20 percent of funds in their category).

In respect of those Funds with relative underperformance over certain periods, including the MoA All America Fund, MoA Small Cap Growth Fund, MoA Mid Cap Value Fund, and MoA Intermediate Bond Fund, the Directors considered in each case that Fund's long-term performance as well as the reasons that Capital Management provided for the relative underperformance, including any information Capital Management provided regarding differences between a Fund's investment strategies and/or investment positioning (e.g., duration) and those of the bulk of its peer group. The Directors noted in this regard that the investment positioning and other explanations provided by Capital Management for relative underperformance were in each case consistent with the relevant Fund's principal investment strategies and the relevant portfolio management team's investment approach. The Directors also considered information they had been provided regarding recent process improvements implemented by the portfolio managers of the MoA Small Cap Growth Fund and how those efforts might improve the Funds'

------

performance. The Directors considered that, in the second quarter of 2025, the MoA Clear Passage 2015 Fund was expected to be merged into the MoA Retirement Income Fund. In addition, in respect of those Funds that seek to approximate the performance of an index, the Directors considered the Fund's level of tracking error and Capital Management's prior comments on the level of that tracking error and the explanations of the contributors to that tracking error.

The Directors noted that the MoA Clear Passage 2070 Fund would be managed in line with the existing MoA Clear Passage Funds' principal investment strategies and the existing glide path. The Directors considered the performance history of the MoA Clear Passage Funds as well as their profitability and noted that such information could be used to evaluate the proposed 2070 Fund Advisory Agreement for the MoA Clear Passage 2070 Fund.

*Relative Levels of the Advisory Fees*. The Directors also compared the investment advisory fees of the Funds against peer groups determined by Morningstar. The Directors considered that the management fee and total expense ratio comparisons indicated that the overwhelming majority of the Funds' fees were at or below the median of their peers and in the first or second quartile of the peers presented. The Directors also considered that in the few instances where a Fund had an investment advisory fee above the median or in the third or fourth quartile of the peer group, that the Fund's advisory fee was within six basis points or fewer of the median of that group. In addition, the Directors considered information from Capital Management regarding the breadth of the peer groups used and the limited number of close peers for certain Funds, such as for the MoA Catholic Values Index Fund.

The Directors considered materials relating to the fees charged by Capital Management to institutional separate accounts for which Capital Management employs investment strategies substantially similar to one or more of the Funds' investment strategies. The Directors reviewed the management fees that Capital Management charged to its other clients with investment strategies substantially similar to those of a Fund, noting that the level of the Fund's fees appeared reasonable relative to the fees charged to those other accounts in light of the information they were provided regarding the greater level of services the Funds require and the greater level of risk that Capital Management incurs in sponsoring and managing the Funds relative to separate accounts.

*Profitability*. The Directors considered Capital Management's profitability in respect of its investment advisory arrangements with each Fund, noting information provided by Capital Management as to the methods it used, and the assumptions it made, in estimating its profitability on a Fund-by-Fund basis. As part of their considerations, the Directors considered the various other methodologies that could be used to allocate Capital Management's costs on a Fund-by-Fund basis and how different approaches might lead to different levels of profitability shown for each Fund. The Directors also considered Capital Management's profitability relative to their understanding of the range of profit margins achieved by other investment advisers in the industry. The Directors noted Capital Management's continued commitment to all of the Funds, including those with limited or no profitability.

The Directors also considered Capital Management's pricing philosophy generally, noting that Capital Management seeks to maintain competitive management fees that will support strong relative performance for the Funds over time. The Directors also considered the investments made by Capital Management into its operations and staff in prior years to better support the Funds from both an operational and investment performance perspective.

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*Fall-out Benefits*. The Directors considered in their evaluation of the proposed renewal of the Advisory Agreements and the proposed approval of the 2070 Fund Advisory Agreement information about both the direct and the indirect benefits to Capital Management from managing the Funds, including, among other things, the ability to offer related retirement products, the scale that the Funds provided in respect of Capital Management and its advisory business generally, the payments or reimbursements that Capital Management (or its affiliates) received from the Funds for certain non-advisory services, and the soft dollar credits that the Funds' trading activity generate and that can be used to purchase research or other services that benefit Capital Management, potentially reducing Capital Management's expenses and furthering its overall advisory business.

*Economies of Scale*. In their evaluation of economies of scale, the Directors considered, among other things, the pricing of the Funds and Capital Management's reported estimated profitability. They noted also that none of the Funds had breakpoints in its advisory fee schedule. The Directors considered that, generally, Capital Management had investment advisory fees that compared quite favorably to the median of the peers presented, even for those Funds that had not achieved significant scale. The Directors considered that the investment advisory fees were set at a rate that was attractive relative to the rates of many of the Funds' peers and would appear, as a result, to have the effect of sharing benefits of economies of scale with shareholders even before some of the Funds had achieved significant scale. The Directors noted also that nearly all of the Funds that had attained significant scale had management fees below or near the median of the peers presented. The Directors separately noted also that Capital Management had agreed to continue in place the expense limitation arrangements for a number of the Funds at current levels for an additional one-year period. The Directors also noted Capital Management's statement that the Funds are priced competitively, but that Capital Management would be willing to consider implementing breakpoints for certain Funds in the future if assets were to grow significantly from their current levels. The Directors concluded that it was not necessary at the present time to implement breakpoints for any of the Funds.

*Conclusions*. On the basis of these considerations as well as others and in the exercise of their business judgment, the Directors determined that they were satisfied with the nature, extent, and quality of the services provided to each Fund under its Advisory Agreement; that it appeared that the management fees paid by each Fund to Capital Management were generally within the range of management fees paid by the peer groups presented, and generally reasonable in light of the services provided, the quality of the portfolio management teams, and each Fund's performance history; that the information provided regarding the estimated profitability to Capital Management of its relationships with the Funds generally did not appear excessive or such as to preclude continuation of any Fund's Advisory Agreement; that the absence of breakpoints in any Fund's management fee did not render that Fund's fee unreasonable or inappropriate under the circumstances; and that it would be appropriate to approve each Fund's Advisory Agreement for an additional one-year period and approve the 2070 Fund's Advisory Agreement for an initial two-year period.

#### Approval of the MoA Mid Cap Growth Fund's Investment Advisory Agreement
At its meeting on June 12, 2025, the Board of MoA Mid Cap Growth Fund (the "Mid Cap Growth Fund"), including by separate vote of the Independent Directors, approved the Mid Cap Growth Fund's Advisory Agreement (the "Mid Cap Growth Fund Advisory Agreement") with Capital Management.

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In considering whether to approve the Mid Cap Growth Fund Advisory Agreement, the Directors took into account a wide variety of information, including all of the information that they had been provided in connection with their most recent consideration of the renewal of the Advisory Agreements. The information considered at that time and the conclusions then drawn helped to inform the Directors' evaluation of the Mid Cap Growth Fund Advisory Agreement.

In their evaluation of the Mid Cap Growth Fund Advisory Agreement, the Directors also considered, among other things, the following information and factors:

• Information on the Mid Cap Growth Fund's proposed advisory fees and anticipated total expenses;

• Terms of the Mid Cap Growth Fund Advisory Agreement;

• Their experience with the proposed portfolio management team;

• Capital Management's historical performance record in the mid cap sector;

• Descriptions of various services to be performed by Capital Management under the Mid Cap Growth Fund Advisory Agreement, including portfolio management practices;

• Information regarding the resources of Capital Management, including information regarding senior management, portfolio managers and other personnel;

• The expected profitability to Capital Management from its relationship with the Mid Cap Growth Fund; and

• Capital Management's undertaking to reimburse the Mid Cap Growth Fund's direct operating expenses to the extent such operating expenses exceed 0.08% (subject to certain exclusions) commencing from the date of initial operations through April 30, 2026.

After considering all of the information described above and any other information they determined relevant, the Directors, including the Independent Directors, unanimously approved the Mid Cap Growth Fund Advisory Agreement for an initial two-year period.

#### Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

#### Item 15. Submission of Matters to a Vote of Security Holders.

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There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's board of directors, where those changes were implemented after the Registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

#### Item 16. Controls and Procedures.
(a) The Registrant's principal executive and principal financial officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the 1940 Act, based on their evaluation of these disclosure controls and procedures as of a date within 90 days of this report on Form N-CSR.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.

#### Item 19. Exhibits.

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| | |
|:---|:---|
| (a)(1) | Not applicable. |
| (a)(2) | Not applicable. |
| (a)(3) | [Certifications of Principal Executive Officer and Principal Financial Officer.](d92545dex99cert.htm) |
| (a)(4) | Not applicable. |
| (a)(5) | Not applicable. |
| (b) | [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d92545dex99906cert.htm) |

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------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) MoA Funds Corporation

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| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Joseph R. Gaffoglio |
|  | Joseph R. Gaffoglio |
|  | Chief Executive Officer and |
|  | Principal Executive Officer of |
|  | MoA Funds Corporation |

---

Date <u>8/26/2025</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Joseph R. Gaffoglio |
|  | Joseph R. Gaffoglio |
|  | Chief Executive Officer and |
|  | Principal Executive Officer of |
|  | MoA Funds Corporation |

---

Date <u>8/26/2025</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ R. Jeffrey Young |
|  | R. Jeffrey Young |
|  | President, Treasurer, Chief Financial Officer and |
|  | Principal Financial Officer of |
|  | MoA Funds Corporation |

---

Date <u>8/26/2025</u>

<sup>\*</sup> Print the name and title of each signing officer under his or her signature.

## Ex-99.Cert

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act** 

I, Joseph R. Gaffoglio, Chief Executive Officer and Principal Executive Officer of MoA Funds Corporation certify that:

1. I have reviewed this report on Form N-CSR of MoA Funds Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the
periods presented in this report;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and
the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the Registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: <u>8/26/2025</u> | /s/ Joseph R. Gaffoglio |
|  | Joseph R. Gaffoglio |
|  | Chief Executive Officer and |
|  | Principal Executive Officer of |
|  | MoA Funds Corporation |

---

------

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act** 

I, R. Jeffrey Young, President, Treasurer, Chief Financial Officer and Principal Financial Officer of MoA Funds Corporation, certify that:

1. I have reviewed this report on Form N-CSR of MoA Funds Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the
periods presented in this report;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and
the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the Registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: <u>8/26/2025</u> | /s/ R. Jeffrey Young |
|  | R. Jeffrey Young |
|  | President, Treasurer, Chief Financial Officer and |
|  | Principal Financial Officer of |
|  | MoA Funds Corporation |

---

## Exhibit 99.906

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act** 

I, Joseph R. Gaffoglio, Chief Executive Officer and Principal Executive Officer of MoA Funds, (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>8/26/2025</u> | /s/ Joseph R. Gaffoglio |
|  | Joseph R. Gaffoglio |
|  | Chief Executive Officer and |
|  | Principal Executive Officer of |
|  | MoA Funds Corporation |

---

I, R. Jeffrey Young, President, Treasurer, Chief Financial Officer and Principal Financial Officer of MoA Funds (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>8/26/2025</u> | /s/ R. Jeffrey Young |
|  | R. Jeffrey Young |
|  | President, Treasurer, Chief Financial Officer and |
|  | Principal Financial Officer of |
|  | MoA Funds Corporation |

---