# EDGAR Filing Document

**Accession Number:** 0000012601
**File Stem:** 0000012601-25-000382
**Filing Date:** 2025-11
**Character Count:** 459359
**Document Hash:** 5d5b0b59f769ba0662f02c8bf22f3e97
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000012601-25-000382.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000012601-25-000382

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01944
- **FILM NUMBER:** 251510638

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

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

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

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

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

## Series and Classes Contracts Data

### Strategic Asset Management Balanced Portfolio (Series ID: S000014090)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000038542 | Strategic Asset Management Balanced Portfolio Class 2 |  |
| C000038543 | Strategic Asset Management Balanced Portfolio Class 1 |  |

## Nport-Ex

Schedule

of

Investments

Blue

Chip

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.58

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.58

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

160,673

$

TOTAL

INVESTMENT

COMPANIES

$

COMMON

STOCKS

-

.55

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.04

%

HEICO

Corp

-

Class

A

2,085

$

530

TransDigm

Group

Inc

1,074

1,415

$

1,945

Building

Materials

-

.26

%

Vulcan

Materials

Co

1,132

Chemicals

-

.86

%

Linde

PLC

790

Sherwin-Williams

Co/The

$

513

Commercial

Services

-

.44

%

Moody's

Corp

Distribution

&

Wholesale

-

.55

%

Copart

Inc

(c) 9,534

Diversified

Financial

Services

-

.38

%

Brookfield

Asset

Management

Ltd

1,588

Charles

Schwab

Corp/The

3,886

Mastercard

Inc

2,190

1,246

Visa

Inc

3,392

1,158

$

2,865

Electronics

-

.94

%

Amphenol

Corp

2,092

Healthcare

-

Products

-

.30

%

Danaher

Corp

4,208

834

IDEXX

Laboratories

Inc

(c) 422

Intuitive

Surgical

Inc

(c) 186

$

1,187

Insurance

-

.84

%

Arthur

J

Gallagher

&

Co

753

Internet

-

.44

%

Airbnb

Inc

(c) 2,097

Alphabet

Inc

-

A

Shares

1,675

Alphabet

Inc

-

C

Shares

1,602

Amazon.com

Inc

(c) 14,918

3,276

Meta

Platforms

Inc

895

657

Netflix

Inc

(c) 780

935

$

5,920

Lodging

-

.58

%

Hilton

Worldwide

Holdings

Inc

2,745

712

Pharmaceuticals

-

.55

%

Zoetis

Inc

2,926

Private

Equity

-

.71

%

Brookfield

Corp

26,282

1,803

KKR

&

Co

Inc

4,628

601

$

2,404

Real

Estate

-

.84

%

CoStar

Group

Inc

(c) 6,035

509

Retail

-

.92

%

Costco

Wholesale

Corp

O'Reilly

Automotive

Inc

(c) 5,113

551

$

806

Semiconductors

-

.08

%

Broadcom

Inc

3,044

1,004

NVIDIA

Corp

8,053

1,503

$

2,507

Software

-

.82

%

Cadence

Design

Systems

Inc

(c) 3,107

1,091

Constellation

Software

Inc/Canada

Microsoft

Corp

8,026

4,157

MSCI

Inc

Roper

Technologies

Inc

1,032

515

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

Veeva

Systems

Inc

(c) 747

$

$

6,300

TOTAL

COMMON

STOCKS

$

27,487

Total

Investments

$

27,648

Other

Assets

and

Liabilities

- (0.13)%

(35)

TOTAL

NET

ASSETS

-

100.00%

$

27,613

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Schedule

of

Investments

Blue

Chip

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

3,570

$

3,802

$

$

$

3,570

$

3,802

$

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.18

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.09

%

iShares

iBoxx

$

Investment

Grade

Corporate

Bond

ETF

(a) 15,000

$

1,672

Money

Market

Funds

-

.09

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(b),(c)

331,948

Principal

Government

Money

Market

Fund

-

Class

4.04%

(b),(c),(d)

20,108,913

20,109

$

20,441

TOTAL

INVESTMENT

COMPANIES

$

22,113

BONDS

-

.41

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

.02

%

Omnicom

Group

Inc

2.45%,

04/30/2030

$

$

2.60%,

08/01/2031

$

Aerospace

&

Defense

-

.54

%

Boeing

Co/The

2.95%,

02/01/2030

3.25%,

02/01/2028

3.25%,

02/01/2035

3.63%,

02/01/2031

3.75%,

02/01/2050

3.95%,

08/01/2059

5.04%,

05/01/2027

5.15%,

05/01/2030

5.71%,

05/01/2040

5.81%,

05/01/2050

5.88%,

02/15/2040

6.26%,

05/01/2027

6.30%,

05/01/2029

6.53%,

05/01/2034

6.86%,

05/01/2054

General

Dynamics

Corp

3.50%,

04/01/2027

3.75%,

05/15/2028

4.25%,

04/01/2040

4.95%,

08/15/2035

General

Electric

Co

4.90%,

01/29/2036

L3Harris

Technologies

Inc

1.80%,

01/15/2031

2.90%,

12/15/2029

5.05%,

06/01/2029

5.40%,

01/15/2027

5.40%,

07/31/2033

5.50%,

08/15/2054

5.60%,

07/31/2053

Lockheed

Martin

Corp

1.85%,

06/15/2030

3.80%,

03/01/2045

3.90%,

06/15/2032

4.07%,

12/15/2042

4.09%,

09/15/2052

4.15%,

08/15/2028

4.15%,

06/15/2053

4.50%,

02/15/2029

4.70%,

12/15/2031

4.70%,

05/15/2046

4.75%,

02/15/2034

5.00%,

08/15/2035

5.10%,

11/15/2027

5.20%,

02/15/2055

5.20%,

02/15/2064

5.25%,

01/15/2033

5.70%,

11/15/2054

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

(continued)

Northrop

Grumman

Corp

3.20%,

02/01/2027

$

$

3.85%,

04/15/2045

4.03%,

10/15/2047

4.65%,

07/15/2030

4.70%,

03/15/2033

4.90%,

06/01/2034

4.95%,

03/15/2053

RTX

Corp

1.90%,

09/01/2031

2.25%,

07/01/2030

2.38%,

03/15/2032

2.82%,

09/01/2051

3.03%,

03/15/2052

3.50%,

03/15/2027

3.75%,

11/01/2046

4.05%,

05/04/2047

4.13%,

11/16/2028

4.15%,

05/15/2045

4.35%,

04/15/2047

4.50%,

06/01/2042

4.63%,

11/16/2048

5.15%,

02/27/2033

5.38%,

02/27/2053

5.75%,

11/08/2026

5.75%,

01/15/2029

6.10%,

03/15/2034

6.40%,

03/15/2054

$

10,085

Agriculture

-

.38

%

Altria

Group

Inc

2.45%,

02/04/2032

3.40%,

05/06/2030

3.70%,

02/04/2051

3.88%,

09/16/2046

4.00%,

02/04/2061

(a) 190

4.80%,

02/14/2029

4.88%,

02/04/2028

5.25%,

08/06/2035

5.80%,

02/14/2039

Archer-Daniels-Midland

Co

2.70%,

09/15/2051

2.90%,

03/01/2032

4.50%,

08/15/2033

BAT

Capital

Corp

2.26%,

03/25/2028

2.73%,

03/25/2031

3.46%,

09/06/2029

3.56%,

08/15/2027

3.98%,

09/25/2050

4.54%,

08/15/2047

4.63%,

03/22/2033

5.63%,

08/15/2035

5.83%,

02/20/2031

6.42%,

08/02/2033

7.08%,

08/02/2043

7.08%,

08/02/2053

BAT

International

Finance

PLC

5.93%,

02/02/2029

Bunge

Ltd

Finance

Corp

2.75%,

05/14/2031

5.15%,

08/04/2035

Philip

Morris

International

Inc

1.75%,

11/01/2030

4.13%,

04/28/2028

4.13%,

03/04/2043

4.25%,

11/10/2044

4.38%,

11/15/2041

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Agriculture

(continued)

Philip

Morris

International

Inc

(continued)

4.50%,

03/20/2042

$

$

4.63%,

11/01/2029

4.88%,

02/15/2028

4.88%,

02/13/2029

4.88%,

11/15/2043

4.90%,

11/01/2034

5.13%,

11/17/2027

5.25%,

02/13/2034

5.38%,

02/15/2033

5.50%,

09/07/2030

5.63%,

11/17/2029

5.75%,

11/17/2032

Reynolds

American

Inc

5.70%,

08/15/2035

5.85%,

08/15/2045

$

7,136

Airlines

-

.03

%

American

Airlines

2019-1

Class

AA

Pass

Through

Trust

3.15%,

08/15/2033

Delta

Air

Lines

2020-1

Class

AA

Pass

Through

Trust

2.00%,

06/10/2028

Delta

Air

Lines

Inc

4.95%,

07/10/2028

United

Airlines

2019-2

Class

AA

Pass

Through

Trust

2.70%,

11/01/2033

$

Apparel

-

.04

%

NIKE

Inc

2.75%,

03/27/2027

3.25%,

03/27/2040

3.38%,

11/01/2046

3.63%,

05/01/2043

$

711

Automobile

Manufacturers

-

.68

%

American

Honda

Finance

Corp

2.25%,

01/12/2029

4.50%,

09/04/2030

4.55%,

03/03/2028

4.60%,

04/17/2030

4.70%,

01/12/2028

4.90%,

01/10/2034

5.05%,

07/10/2031

5.15%,

07/09/2032

5.65%,

11/15/2028

5.85%,

10/04/2030

Ford

Motor

Co

6.10%,

08/19/2032

Ford

Motor

Credit

Co

LLC

5.13%,

11/05/2026

5.30%,

09/06/2029

5.80%,

03/08/2029

5.85%,

05/17/2027

5.88%,

11/07/2029

5.92%,

03/20/2028

6.05%,

03/05/2031

6.05%,

11/05/2031

6.50%,

02/07/2035

(a) 200

6.80%,

11/07/2028

7.12%,

11/07/2033

7.35%,

11/04/2027

General

Motors

Co

5.00%,

10/01/2028

5.00%,

04/01/2035

5.35%,

04/15/2028

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Manufacturers

(continued)

General

Motors

Co

(continued)

5.40%,

04/01/2048

(a) $

$

6.25%,

04/15/2035

6.75%,

04/01/2046

General

Motors

Financial

Co

Inc

2.35%,

02/26/2027

2.35%,

01/08/2031

2.40%,

04/10/2028

2.40%,

10/15/2028

2.70%,

06/10/2031

4.35%,

01/17/2027

4.90%,

10/06/2029

5.35%,

07/15/2027

5.35%,

01/07/2030

5.40%,

05/08/2027

5.45%,

07/15/2030

5.45%,

09/06/2034

5.55%,

07/15/2029

5.60%,

06/18/2031

5.80%,

01/07/2029

5.90%,

01/07/2035

(a) 130

6.00%,

01/09/2028

6.15%,

07/15/2035

6.40%,

01/09/2033

Honda

Motor

Co

Ltd

2.53%,

03/10/2027

4.44%,

07/08/2028

5.34%,

07/08/2035

Mercedes-Benz

Finance

North

America

LLC

8.50%,

01/18/2031

PACCAR

Financial

Corp

4.25%,

06/23/2027

4.45%,

08/06/2027

4.60%,

01/31/2029

5.00%,

05/13/2027

Toyota

Motor

Corp

4.19%,

06/30/2027

5.05%,

06/30/2035

(a) 105

5.12%,

07/13/2028

Toyota

Motor

Credit

Corp

1.15%,

08/13/2027

1.65%,

01/10/2031

1.90%,

01/13/2027

4.05%,

09/05/2028

4.35%,

10/08/2027

4.45%,

06/29/2029

4.50%,

05/14/2027

4.55%,

09/20/2027

4.55%,

05/17/2030

4.60%,

10/10/2031

4.63%,

01/12/2028

4.80%,

05/15/2030

4.80%,

01/05/2034

4.95%,

01/09/2030

5.00%,

03/19/2027

5.10%,

03/21/2031

5.40%,

11/20/2026

$

12,789

Automobile

Parts

&

Equipment

-

.01

%

Aptiv

Swiss

Holdings

Ltd

3.25%,

03/01/2032

Banks

-

.52

%

Banco

Santander

SA

2.75%,

12/03/2030

3.22%,

11/22/2032

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.60%

3.49%,

05/28/2030

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Banco

Santander

SA

(continued)

5.29%,

08/18/2027

$

$

5.44%,

07/15/2031

5.57%,

01/17/2030

5.59%,

08/08/2028

6.94%,

11/07/2033

Bank

of

America

Corp

1.90%,

07/23/2031

(e) 370

Secured

Overnight

Financing

Rate

+

1.53%

1.92%,

10/24/2031

(e) 170

Secured

Overnight

Financing

Rate

+

1.37%

2.09%,

06/14/2029

(e) 190

Secured

Overnight

Financing

Rate

+

1.06%

2.30%,

07/21/2032

(e) 380

Secured

Overnight

Financing

Rate

+

1.22%

2.48%,

09/21/2036

(e) 385

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.20%

2.50%,

02/13/2031

(e) 320

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.55%,

02/04/2028

(e) 200

Secured

Overnight

Financing

Rate

+

1.05%

2.57%,

10/20/2032

(e) 130

Secured

Overnight

Financing

Rate

+

1.21%

2.65%,

03/11/2032

(e) 205

Secured

Overnight

Financing

Rate

+

1.22%

2.68%,

06/19/2041

(e) 335

Secured

Overnight

Financing

Rate

+

1.93%

2.83%,

10/24/2051

(e) 225

Secured

Overnight

Financing

Rate

+

1.88%

2.97%,

02/04/2033

(e) 240

Secured

Overnight

Financing

Rate

+

1.33%

2.97%,

07/21/2052

(a),(e)

Secured

Overnight

Financing

Rate

+

1.56%

3.19%,

07/23/2030

(e) 335

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

3.25%,

10/21/2027

3.31%,

04/22/2042

(e) 380

Secured

Overnight

Financing

Rate

+

1.58%

3.42%,

12/20/2028

(e) 371

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

3.48%,

03/13/2052

(e) 190

Secured

Overnight

Financing

Rate

+

1.65%

3.59%,

07/21/2028

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.63%

3.82%,

01/20/2028

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.84%

3.97%,

02/07/2030

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.47%

4.18%,

11/25/2027

4.27%,

07/23/2029

(e) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.33%,

03/15/2050

(e) 310

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.78%

4.38%,

04/27/2028

(e) 235

Secured

Overnight

Financing

Rate

+

1.58%

4.57%,

04/27/2033

(e) 290

Secured

Overnight

Financing

Rate

+

1.83%

4.62%,

05/09/2029

(e) 105

Secured

Overnight

Financing

Rate

+

1.11%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

(continued)

4.98%,

01/24/2029

(e) $

$

Secured

Overnight

Financing

Rate

+

0.83%

5.00%,

01/21/2044

5.02%,

07/22/2033

(e) 340

Secured

Overnight

Financing

Rate

+

2.16%

5.16%,

01/24/2031

(e) 180

Secured

Overnight

Financing

Rate

+

1.00%

5.20%,

04/25/2029

(e) 295

Secured

Overnight

Financing

Rate

+

1.63%

5.29%,

04/25/2034

(e) 295

Secured

Overnight

Financing

Rate

+

1.91%

5.43%,

08/15/2035

(e) 210

Secured

Overnight

Financing

Rate

+

1.91%

5.46%,

05/09/2036

(e) 215

Secured

Overnight

Financing

Rate

+

1.64%

5.47%,

01/23/2035

(e) 185

Secured

Overnight

Financing

Rate

+

1.65%

5.51%,

01/24/2036

(e) 255

Secured

Overnight

Financing

Rate

+

1.31%

5.52%,

10/25/2035

(e) 215

Secured

Overnight

Financing

Rate

+

1.74%

5.82%,

09/15/2029

(e) 305

Secured

Overnight

Financing

Rate

+

1.57%

5.87%,

09/15/2034

(e) 305

Secured

Overnight

Financing

Rate

+

1.84%

5.88%,

02/07/2042

6.11%,

01/29/2037

7.75%,

05/14/2038

Bank

of

America

NA

6.00%,

10/15/2036

Bank

of

Montreal

3.09%,

01/10/2037

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.40%

4.35%,

09/22/2031

(e) 100

Secured

Overnight

Financing

Rate

+

1.08%

4.64%,

09/10/2030

(e) 125

Secured

Overnight

Financing

Rate

+

1.25%

4.70%,

09/14/2027

5.37%,

06/04/2027

5.72%,

09/25/2028

Bank

of

New

York

Mellon

Corp/The

3.99%,

06/13/2028

(e) 175

Secured

Overnight

Financing

Rate

+

1.15%

4.44%,

06/09/2028

(e) 270

Secured

Overnight

Financing

Rate

+

0.68%

4.54%,

02/01/2029

(e) 110

Secured

Overnight

Financing

Rate

+

1.17%

4.89%,

07/21/2028

(e) 145

Secured

Overnight

Financing

Rate

+

0.84%

4.94%,

02/11/2031

(e) 125

Secured

Overnight

Financing

Rate

+

0.89%

4.97%,

04/26/2034

(e) 110

Secured

Overnight

Financing

Rate

+

1.61%

5.06%,

07/22/2032

(e) 145

Secured

Overnight

Financing

Rate

+

1.23%

5.19%,

03/14/2035

(e) 195

Secured

Overnight

Financing

Rate

+

1.42%

5.32%,

06/06/2036

(e) 50

Secured

Overnight

Financing

Rate

+

1.35%

5.83%,

10/25/2033

(e) 150

Secured

Overnight

Financing

Rate

+

2.07%

6.32%,

10/25/2029

(e) 145

Secured

Overnight

Financing

Rate

+

1.60%

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

Nova

Scotia/The

4.04%,

09/15/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

0.76%

4.74%,

11/10/2032

(e) 135

Secured

Overnight

Financing

Rate

+

1.44%

4.85%,

02/01/2030

5.35%,

12/07/2026

5.40%,

06/04/2027

Barclays

PLC

2.28%,

11/24/2027

(e) 220

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

2.65%,

06/24/2031

(e) 320

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

3.56%,

09/23/2035

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

3.81%,

03/10/2042

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.70%

4.84%,

09/10/2028

(e) 200

Secured

Overnight

Financing

Rate

+

1.34%

4.97%,

05/16/2029

(e) 210

Month

USD

LIBOR

+

1.90%

5.09%,

02/25/2029

(e) 200

Secured

Overnight

Financing

Rate

+

0.96%

5.67%,

03/12/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.49%

5.69%,

03/12/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.74%

5.79%,

02/25/2036

(e) 200

Secured

Overnight

Financing

Rate

+

1.59%

6.22%,

05/09/2034

(e) 295

Secured

Overnight

Financing

Rate

+

2.98%

6.69%,

09/13/2034

(e) 305

Secured

Overnight

Financing

Rate

+

2.62%

Canadian

Imperial

Bank

of

Commerce

4.58%,

09/08/2031

(e) 100

Secured

Overnight

Financing

Rate

+

1.17%

4.63%,

09/11/2030

(a),(e)

Secured

Overnight

Financing

Rate

+

1.34%

4.86%,

01/13/2028

(e) 190

Secured

Overnight

Financing

Rate

+

0.72%

5.00%,

04/28/2028

5.26%,

04/08/2029

5.93%,

10/02/2026

5.99%,

10/03/2028

Capital

One

NA

2.70%,

02/06/2030

Citibank

NA

5.57%,

04/30/2034

5.80%,

09/29/2028

(a) 250

Citigroup

Inc

2.57%,

06/03/2031

(e) 320

Secured

Overnight

Financing

Rate

+

2.11%

2.67%,

01/29/2031

(e) 315

Secured

Overnight

Financing

Rate

+

1.15%

2.90%,

11/03/2042

(e) 195

Secured

Overnight

Financing

Rate

+

1.38%

2.98%,

11/05/2030

(e) 155

Secured

Overnight

Financing

Rate

+

1.42%

3.06%,

01/25/2033

(e) 185

Secured

Overnight

Financing

Rate

+

1.35%

3.20%,

10/21/2026

3.67%,

07/24/2028

(e) 325

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.65%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Citigroup

Inc

(continued)

3.79%,

03/17/2033

(e) $

$

Secured

Overnight

Financing

Rate

+

1.94%

3.89%,

01/10/2028

(e) 400

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.82%

4.07%,

04/23/2029

(e) 240

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.45%

4.28%,

04/24/2048

(e) 165

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.10%

4.30%,

11/20/2026

4.45%,

09/29/2027

4.50%,

09/11/2031

(e) 135

Secured

Overnight

Financing

Rate

+

1.17%

4.54%,

09/19/2030

(e) 270

Secured

Overnight

Financing

Rate

+

1.34%

4.64%,

05/07/2028

(e) 105

Secured

Overnight

Financing

Rate

+

1.14%

4.65%,

07/30/2045

4.66%,

05/24/2028

(e) 365

Secured

Overnight

Financing

Rate

+

1.89%

4.91%,

05/24/2033

(e) 230

Secured

Overnight

Financing

Rate

+

2.09%

4.95%,

05/07/2031

(e) 215

Secured

Overnight

Financing

Rate

+

1.46%

5.17%,

02/13/2030

(e) 310

Secured

Overnight

Financing

Rate

+

1.36%

5.17%,

09/11/2036

(e) 210

Secured

Overnight

Financing

Rate

+

1.49%

5.30%,

05/06/2044

5.33%,

03/27/2036

(e) 290

Secured

Overnight

Financing

Rate

+

1.47%

5.41%,

09/19/2039

(e) 135

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.73%

5.61%,

03/04/2056

(e) 125

Secured

Overnight

Financing

Rate

+

1.75%

5.83%,

02/13/2035

(e) 155

Secured

Overnight

Financing

Rate

+

2.06%

5.88%,

01/30/2042

6.02%,

01/24/2036

(e) 230

Secured

Overnight

Financing

Rate

+

1.83%

6.17%,

05/25/2034

(e) 295

Secured

Overnight

Financing

Rate

+

2.66%

6.27%,

11/17/2033

(e) 155

Secured

Overnight

Financing

Rate

+

2.34%

6.63%,

06/15/2032

6.68%,

09/13/2043

8.13%,

07/15/2039

Cooperatieve

Rabobank

UA

5.25%,

05/24/2041

5.25%,

08/04/2045

Cooperatieve

Rabobank

UA/NY

4.80%,

01/09/2029

Deutsche

Bank

AG/New

York

NY

4.95%,

08/04/2031

(e) 150

Secured

Overnight

Financing

Rate

+

1.30%

5.00%,

09/11/2030

(e) 275

Secured

Overnight

Financing

Rate

+

1.70%

5.30%,

05/09/2031

(e) 150

Secured

Overnight

Financing

Rate

+

1.72%

5.37%,

09/09/2027

5.37%,

01/10/2029

(e) 190

Secured

Overnight

Financing

Rate

+

1.21%

6.72%,

01/18/2029

(e) 300

Secured

Overnight

Financing

Rate

+

3.18%

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Deutsche

Bank

AG/New

York

NY

(continued)

7.08%,

02/10/2034

(e) $

$

Secured

Overnight

Financing

Rate

+

3.65%

Fifth

Third

Bancorp

4.06%,

04/25/2028

(e) 150

Secured

Overnight

Financing

Rate

+

1.36%

5.63%,

01/29/2032

(e) 150

Secured

Overnight

Financing

Rate

+

1.84%

6.34%,

07/27/2029

(e) 225

Secured

Overnight

Financing

Rate

+

2.34%

Goldman

Sachs

Group

Inc/The

1.95%,

10/21/2027

(e) 200

Secured

Overnight

Financing

Rate

+

0.91%

1.99%,

01/27/2032

(e) 245

Secured

Overnight

Financing

Rate

+

1.09%

2.38%,

07/21/2032

(e) 285

Secured

Overnight

Financing

Rate

+

1.25%

2.60%,

02/07/2030

2.62%,

04/22/2032

(e) 190

Secured

Overnight

Financing

Rate

+

1.28%

2.64%,

02/24/2028

(e) 150

Secured

Overnight

Financing

Rate

+

1.11%

2.65%,

10/21/2032

(e) 195

Secured

Overnight

Financing

Rate

+

1.26%

2.91%,

07/21/2042

(e) 185

Secured

Overnight

Financing

Rate

+

1.47%

3.10%,

02/24/2033

(e) 195

Secured

Overnight

Financing

Rate

+

1.41%

3.21%,

04/22/2042

(e) 190

Secured

Overnight

Financing

Rate

+

1.51%

3.44%,

02/24/2043

(e) 190

Secured

Overnight

Financing

Rate

+

1.63%

3.81%,

04/23/2029

(e) 315

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.42%

3.85%,

01/26/2027

4.22%,

05/01/2029

(e) 215

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.56%

4.41%,

04/23/2039

(e) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

4.48%,

08/23/2028

(e) 280

Secured

Overnight

Financing

Rate

+

1.73%

4.69%,

10/23/2030

(e) 265

Secured

Overnight

Financing

Rate

+

1.14%

4.80%,

07/08/2044

4.94%,

04/23/2028

(e) 230

Secured

Overnight

Financing

Rate

+

1.32%

5.02%,

10/23/2035

(e) 265

Secured

Overnight

Financing

Rate

+

1.42%

5.05%,

07/23/2030

(e) 315

Secured

Overnight

Financing

Rate

+

1.21%

5.15%,

05/22/2045

5.21%,

01/28/2031

(e) 240

Secured

Overnight

Financing

Rate

+

1.08%

5.33%,

07/23/2035

(e) 250

Secured

Overnight

Financing

Rate

+

1.55%

5.54%,

01/28/2036

(e) 190

Secured

Overnight

Financing

Rate

+

1.38%

5.56%,

11/19/2045

(e) 270

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

04/25/2030

(e) 265

Secured

Overnight

Financing

Rate

+

1.27%

5.73%,

01/28/2056

(e) 120

Secured

Overnight

Financing

Rate

+

1.70%

5.85%,

04/25/2035

(e) 180

Secured

Overnight

Financing

Rate

+

1.55%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Goldman

Sachs

Group

Inc/The

(continued)

6.48%,

10/24/2029

(e) $

$

Secured

Overnight

Financing

Rate

+

1.77%

6.56%,

10/24/2034

(e) 145

Secured

Overnight

Financing

Rate

+

1.95%

6.75%,

10/01/2037

530

594

HSBC

Holdings

PLC

2.01%,

09/22/2028

(e) 335

Secured

Overnight

Financing

Rate

+

1.73%

2.85%,

06/04/2031

(e) 200

Secured

Overnight

Financing

Rate

+

2.39%

2.87%,

11/22/2032

(e) 200

Secured

Overnight

Financing

Rate

+

1.41%

3.97%,

05/22/2030

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.87%

4.04%,

03/13/2028

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

4.58%,

06/19/2029

(e) 365

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

4.76%,

06/09/2028

(e) 200

Secured

Overnight

Financing

Rate

+

2.11%

5.29%,

11/19/2030

(e) 270

Secured

Overnight

Financing

Rate

+

1.29%

5.40%,

08/11/2033

(e) 335

Secured

Overnight

Financing

Rate

+

2.87%

5.55%,

03/04/2030

(e) 310

Secured

Overnight

Financing

Rate

+

1.46%

5.72%,

03/04/2035

(e) 310

Secured

Overnight

Financing

Rate

+

1.78%

5.73%,

05/17/2032

(e) 300

Secured

Overnight

Financing

Rate

+

1.52%

5.74%,

09/10/2036

(e) 200

Secured

Overnight

Financing

Rate

+

1.96%

5.79%,

05/13/2036

(e) 215

Secured

Overnight

Financing

Rate

+

1.88%

5.87%,

11/18/2035

(e) 270

Secured

Overnight

Financing

Rate

+

1.90%

6.10%,

01/14/2042

6.16%,

03/09/2029

(e) 200

Secured

Overnight

Financing

Rate

+

1.97%

6.25%,

03/09/2034

(e) 260

Secured

Overnight

Financing

Rate

+

2.39%

6.33%,

03/09/2044

(e) 215

Secured

Overnight

Financing

Rate

+

2.65%

6.55%,

06/20/2034

(e) 295

Secured

Overnight

Financing

Rate

+

2.98%

7.39%,

11/03/2028

(e) 305

Secured

Overnight

Financing

Rate

+

3.35%

Huntington

Bancshares

Inc/OH

2.55%,

02/04/2030

5.27%,

01/15/2031

(e) 135

Secured

Overnight

Financing

Rate

+

1.28%

Huntington

National

Bank/The

5.65%,

01/10/2030

ING

Groep

NV

2.73%,

04/01/2032

(e) 200

Secured

Overnight

Financing

Rate

+

1.32%

4.86%,

03/25/2029

(e) 250

Secured

Overnight

Financing

Rate

+

1.01%

5.34%,

03/19/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.44%

6.11%,

09/11/2034

(e) 230

Secured

Overnight

Financing

Rate

+

2.09%

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

1.95%,

02/04/2032

(e) $

$

Secured

Overnight

Financing

Rate

+

1.07%

2.07%,

06/01/2029

(e) 295

Secured

Overnight

Financing

Rate

+

1.02%

2.18%,

06/01/2028

(e) 265

Secured

Overnight

Financing

Rate

+

1.89%

2.52%,

04/22/2031

(e) 190

Secured

Overnight

Financing

Rate

+

2.04%

2.53%,

11/19/2041

(e) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

2.55%,

11/08/2032

(e) 195

Secured

Overnight

Financing

Rate

+

1.18%

2.58%,

04/22/2032

(e) 190

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.74%,

10/15/2030

(e) 260

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

2.95%,

10/01/2026

2.96%,

05/13/2031

(e) 175

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.52%

3.11%,

04/22/2041

(e) 190

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.46%

3.11%,

04/22/2051

(e) 105

Secured

Overnight

Financing

Rate

+

2.44%

3.33%,

04/22/2052

(e) 190

Secured

Overnight

Financing

Rate

+

1.58%

3.51%,

01/23/2029

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.21%

3.63%,

12/01/2027

3.88%,

07/24/2038

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.62%

3.96%,

11/15/2048

(e) 400

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.64%

4.01%,

04/23/2029

(e) 270

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.38%

4.03%,

07/24/2048

(e) 30

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.72%

4.20%,

07/23/2029

(e) 150

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.52%

4.25%,

10/01/2027

4.32%,

04/26/2028

(e) 290

Secured

Overnight

Financing

Rate

+

1.56%

4.51%,

10/22/2028

(e) 200

Secured

Overnight

Financing

Rate

+

0.86%

4.57%,

06/14/2030

(e) 295

Secured

Overnight

Financing

Rate

+

1.75%

4.59%,

04/26/2033

(e) 195

Secured

Overnight

Financing

Rate

+

1.80%

4.60%,

10/22/2030

(e) 265

Secured

Overnight

Financing

Rate

+

1.04%

4.85%,

07/25/2028

(e) 70

Secured

Overnight

Financing

Rate

+

1.99%

4.85%,

02/01/2044

4.91%,

07/25/2033

(e) 340

Secured

Overnight

Financing

Rate

+

2.08%

4.95%,

10/22/2035

(e) 255

Secured

Overnight

Financing

Rate

+

1.34%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

(continued)

4.95%,

06/01/2045

$

$

4.98%,

07/22/2028

(e) 135

Secured

Overnight

Financing

Rate

+

0.93%

5.00%,

07/22/2030

(e) 145

Secured

Overnight

Financing

Rate

+

1.13%

5.01%,

01/23/2030

(e) 185

Secured

Overnight

Financing

Rate

+

1.31%

5.04%,

01/23/2028

(e) 350

Secured

Overnight

Financing

Rate

+

1.19%

5.10%,

04/22/2031

(e) 240

Secured

Overnight

Financing

Rate

+

1.44%

5.14%,

01/24/2031

(e) 195

Secured

Overnight

Financing

Rate

+

1.01%

5.29%,

07/22/2035

(e) 215

Secured

Overnight

Financing

Rate

+

1.46%

5.30%,

07/24/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.45%

5.34%,

01/23/2035

(e) 215

Secured

Overnight

Financing

Rate

+

1.62%

5.35%,

06/01/2034

(e) 370

Secured

Overnight

Financing

Rate

+

1.85%

5.50%,

01/24/2036

(e) 205

Secured

Overnight

Financing

Rate

+

1.32%

5.53%,

11/29/2045

(e) 135

Secured

Overnight

Financing

Rate

+

1.55%

5.57%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

0.93%

5.57%,

04/22/2036

(e) 115

Secured

Overnight

Financing

Rate

+

1.68%

5.58%,

04/22/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.16%

5.58%,

07/23/2036

(e) 100

Secured

Overnight

Financing

Rate

+

1.64%

5.60%,

07/15/2041

5.63%,

08/16/2043

5.72%,

09/14/2033

(e) 160

Secured

Overnight

Financing

Rate

+

2.58%

5.77%,

04/22/2035

(e) 195

Secured

Overnight

Financing

Rate

+

1.49%

6.07%,

10/22/2027

(e) 145

Secured

Overnight

Financing

Rate

+

1.33%

6.09%,

10/23/2029

(e) 295

Secured

Overnight

Financing

Rate

+

1.57%

6.25%,

10/23/2034

(e) 295

Secured

Overnight

Financing

Rate

+

1.81%

6.40%,

05/15/2038

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

KeyCorp

2.25%,

04/06/2027

2.55%,

10/01/2029

Korea

Development

Bank/The

3.75%,

09/16/2030

4.38%,

02/15/2028

4.50%,

02/15/2029

5.63%,

10/23/2033

Kreditanstalt

fuer

Wiederaufbau

0.00%,

04/18/2036

(f) 380

0.00%,

06/29/2037

(a),(f)

1.00%,

10/01/2026

2.88%,

04/03/2028

3.00%,

05/20/2027

3.50%,

08/27/2027

3.50%,

08/09/2028

3.75%,

02/15/2028

3.75%,

07/15/2030

3.88%,

05/15/2028

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Kreditanstalt

fuer

Wiederaufbau

(continued)

3.88%,

06/15/2028

$

$

4.00%,

06/28/2027

4.00%,

03/15/2029

4.13%,

07/15/2033

4.38%,

03/01/2027

4.38%,

02/28/2034

4.63%,

03/18/2030

4.75%,

10/29/2030

Landwirtschaftliche

Rentenbank

0.88%,

09/03/2030

3.63%,

10/08/2030

(g) 105

3.88%,

09/28/2027

3.88%,

06/14/2028

4.13%,

05/28/2030

4.63%,

04/17/2029

Lloyds

Banking

Group

PLC

3.75%,

01/11/2027

4.82%,

06/13/2029

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.83%

4.98%,

08/11/2033

(e) 335

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.30%

5.09%,

11/26/2028

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.85%

5.30%,

12/01/2045

5.68%,

01/05/2035

(e) 305

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.75%

M&T

Bank

Corp

5.18%,

07/08/2031

(e) 105

Secured

Overnight

Financing

Rate

+

1.40%

Mitsubishi

UFJ

Financial

Group

Inc

1.64%,

10/13/2027

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.67%

2.05%,

07/17/2030

2.56%,

02/25/2030

3.20%,

07/18/2029

4.08%,

04/19/2028

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.30%

4.32%,

04/19/2033

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.55%

4.53%,

09/12/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.80%

5.13%,

07/20/2033

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.13%

5.16%,

04/24/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.35%,

09/13/2028

(e) 325

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

5.41%,

04/19/2034

(a),(e)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.97%

5.57%,

01/16/2036

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Mizuho

Financial

Group

Inc

2.20%,

07/10/2031

(e) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.77%

2.26%,

07/09/2032

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.90%

3.15%,

07/16/2030

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.39%

5.41%,

09/13/2028

(e) 325

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.05%

5.59%,

07/10/2035

(e) 295

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.30%

5.74%,

05/27/2031

(e) 305

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.65%

5.75%,

07/06/2034

(e) 300

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

Morgan

Stanley

1.79%,

02/13/2032

(e) 355

Secured

Overnight

Financing

Rate

+

1.03%

1.93%,

04/28/2032

(e) 105

Secured

Overnight

Financing

Rate

+

1.02%

2.24%,

07/21/2032

(e) 190

Secured

Overnight

Financing

Rate

+

1.18%

2.48%,

01/21/2028

(e) 120

Secured

Overnight

Financing

Rate

+

1.00%

2.48%,

09/16/2036

(e) 265

Secured

Overnight

Financing

Rate

+

1.36%

2.51%,

10/20/2032

(e) 180

Secured

Overnight

Financing

Rate

+

1.20%

2.80%,

01/25/2052

(e) 120

Secured

Overnight

Financing

Rate

+

1.43%

2.94%,

01/21/2033

(e) 140

Secured

Overnight

Financing

Rate

+

1.29%

3.22%,

04/22/2042

(e) 190

Secured

Overnight

Financing

Rate

+

1.49%

3.59%,

07/22/2028

Month

USD

LIBOR

+

1.34%

3.63%,

01/20/2027

3.77%,

01/24/2029

(e) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

3.95%,

04/23/2027

3.97%,

07/22/2038

Month

USD

LIBOR

+

1.46%

4.21%,

04/20/2028

(e) 390

Secured

Overnight

Financing

Rate

+

1.61%

4.30%,

01/27/2045

4.38%,

01/22/2047

4.65%,

10/18/2030

(e) 170

Secured

Overnight

Financing

Rate

+

1.10%

4.89%,

07/20/2033

(e) 225

Secured

Overnight

Financing

Rate

+

2.08%

5.04%,

07/19/2030

(e) 140

Secured

Overnight

Financing

Rate

+

1.22%

5.12%,

02/01/2029

(e) 300

Secured

Overnight

Financing

Rate

+

1.73%

5.16%,

04/20/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.59%

5.17%,

01/16/2030

(e) 230

Secured

Overnight

Financing

Rate

+

1.45%

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

(continued)

5.19%,

04/17/2031

(e) $

$

Secured

Overnight

Financing

Rate

+

1.51%

5.23%,

01/15/2031

(e) 205

Secured

Overnight

Financing

Rate

+

1.11%

5.25%,

04/21/2034

(e) 295

Secured

Overnight

Financing

Rate

+

1.87%

5.32%,

07/19/2035

(e) 290

Secured

Overnight

Financing

Rate

+

1.56%

5.42%,

07/21/2034

(e) 300

Secured

Overnight

Financing

Rate

+

1.88%

5.45%,

07/20/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.63%

5.47%,

01/18/2035

(e) 155

Secured

Overnight

Financing

Rate

+

1.73%

5.52%,

11/19/2055

(e) 170

Secured

Overnight

Financing

Rate

+

1.71%

5.59%,

01/18/2036

(e) 200

Secured

Overnight

Financing

Rate

+

1.42%

5.60%,

03/24/2051

(e) 200

Secured

Overnight

Financing

Rate

+

4.84%

5.65%,

04/13/2028

(e) 130

Secured

Overnight

Financing

Rate

+

1.01%

5.66%,

04/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.26%

5.66%,

04/17/2036

(e) 185

Secured

Overnight

Financing

Rate

+

1.76%

5.83%,

04/19/2035

(e) 90

Secured

Overnight

Financing

Rate

+

1.58%

5.95%,

01/19/2038

(e) 150

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.43%

6.30%,

10/18/2028

(e) 145

Secured

Overnight

Financing

Rate

+

2.24%

6.34%,

10/18/2033

(e) 150

Secured

Overnight

Financing

Rate

+

2.56%

6.38%,

07/24/2042

6.41%,

11/01/2029

(e) 200

Secured

Overnight

Financing

Rate

+

1.83%

6.63%,

11/01/2034

(e) 185

Secured

Overnight

Financing

Rate

+

2.05%

Morgan

Stanley

Bank

NA

4.45%,

10/15/2027

(e) 265

Secured

Overnight

Financing

Rate

+

0.68%

4.97%,

07/14/2028

(e) 285

Secured

Overnight

Financing

Rate

+

0.93%

5.02%,

01/12/2029

(e) 290

Secured

Overnight

Financing

Rate

+

0.91%

Morgan

Stanley

Private

Bank

NA

4.73%,

07/18/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.08%

National

Australia

Bank

Ltd/New

York

4.53%,

06/13/2030

5.09%,

06/11/2027

NatWest

Group

PLC

4.89%,

05/18/2029

(e) 200

Month

USD

LIBOR

+

1.75%

5.08%,

01/27/2030

(e) 400

Month

USD

LIBOR

+

1.91%

5.12%,

05/23/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

Northern

Trust

Corp

4.00%,

05/10/2027

Oesterreichische

Kontrollbank

AG

3.63%,

09/09/2027

3.75%,

09/05/2029

3.75%,

09/10/2030

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Oesterreichische

Kontrollbank

AG

(continued)

4.00%,

05/28/2028

$

$

4.25%,

03/01/2028

4.50%,

01/24/2030

4.75%,

05/21/2027

PNC

Bank

NA

2.70%,

10/22/2029

PNC

Financial

Services

Group

Inc/The

2.31%,

04/23/2032

(e) 150

Secured

Overnight

Financing

Rate

+

0.98%

2.55%,

01/22/2030

4.63%,

06/06/2033

(e) 105

Secured

Overnight

Financing

Rate

+

1.85%

4.90%,

05/13/2031

(e) 105

Secured

Overnight

Financing

Rate

+

1.33%

5.22%,

01/29/2031

(e) 155

Secured

Overnight

Financing

Rate

+

1.07%

5.30%,

01/21/2028

(e) 155

Secured

Overnight

Financing

Rate

+

1.34%

5.35%,

12/02/2028

(e) 105

Secured

Overnight

Financing

Rate

+

1.62%

5.37%,

07/21/2036

(e) 80

Secured

Overnight

Financing

Rate

+

1.42%

5.40%,

07/23/2035

(e) 315

Secured

Overnight

Financing

Rate

+

1.60%

5.68%,

01/22/2035

(e) 75

Secured

Overnight

Financing

Rate

+

1.90%

5.94%,

08/18/2034

(e) 305

Secured

Overnight

Financing

Rate

+

1.95%

6.62%,

10/20/2027

(e) 220

Secured

Overnight

Financing

Rate

+

1.73%

Royal

Bank

of

Canada

3.63%,

05/04/2027

3.88%,

05/04/2032

4.50%,

08/06/2029

(e) 100

Secured

Overnight

Financing

Rate

+

0.89%

4.51%,

10/18/2027

(e) 200

Secured

Overnight

Financing

Rate

+

0.72%

4.65%,

10/18/2030

(e) 200

Secured

Overnight

Financing

Rate

+

1.08%

4.95%,

02/01/2029

4.97%,

01/24/2029

(e) 190

Secured

Overnight

Financing

Rate

+

0.83%

4.97%,

05/02/2031

(a),(e)

Secured

Overnight

Financing

Rate

+

1.13%

5.00%,

05/02/2033

5.15%,

02/04/2031

(e) 190

Secured

Overnight

Financing

Rate

+

1.03%

6.00%,

11/01/2027

Santander

Holdings

USA

Inc

2.49%,

01/06/2028

(e) 270

Secured

Overnight

Financing

Rate

+

1.25%

5.35%,

09/06/2030

(e) 135

Secured

Overnight

Financing

Rate

+

1.94%

5.47%,

03/20/2029

(e) 120

Secured

Overnight

Financing

Rate

+

1.61%

Santander

UK

Group

Holdings

PLC

2.47%,

01/11/2028

(e) 200

Secured

Overnight

Financing

Rate

+

1.22%

4.32%,

09/22/2029

(e) 205

Secured

Overnight

Financing

Rate

+

1.07%

State

Street

Corp

2.20%,

02/07/2028

(e) 145

Secured

Overnight

Financing

Rate

+

0.73%

2.20%,

03/03/2031

4.42%,

05/13/2033

(e) 185

Secured

Overnight

Financing

Rate

+

1.61%

4.54%,

02/28/2028

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

State

Street

Corp

(continued)

4.68%,

10/22/2032

(e) $

$

Secured

Overnight

Financing

Rate

+

1.05%

4.82%,

01/26/2034

(e) 65

Secured

Overnight

Financing

Rate

+

1.57%

4.83%,

04/24/2030

5.15%,

02/28/2036

(e) 125

Secured

Overnight

Financing

Rate

+

1.22%

5.68%,

11/21/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.48%

Sumitomo

Mitsui

Financial

Group

Inc

1.90%,

09/17/2028

2.13%,

07/08/2030

2.14%,

09/23/2030

3.04%,

07/16/2029

3.36%,

07/12/2027

3.45%,

01/11/2027

(a) 140

4.66%,

07/08/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.19%

5.32%,

07/09/2029

5.42%,

07/09/2031

5.63%,

01/15/2035

5.77%,

01/13/2033

5.80%,

07/13/2028

5.80%,

07/08/2046

(e) 105

Secured

Overnight

Financing

Rate

+

1.78%

5.81%,

09/14/2033

6.18%,

07/13/2043

Toronto-Dominion

Bank/The

1.95%,

01/12/2027

(a) 200

3.20%,

03/10/2032

4.11%,

06/08/2027

4.46%,

06/08/2032

4.57%,

12/17/2026

4.57%,

06/02/2028

4.69%,

09/15/2027

4.78%,

12/17/2029

4.99%,

04/05/2029

5.30%,

01/30/2032

5.52%,

07/17/2028

Truist

Financial

Corp

1.13%,

08/03/2027

1.89%,

06/07/2029

(e) 175

Secured

Overnight

Financing

Rate

+

0.86%

1.95%,

06/05/2030

4.12%,

06/06/2028

(e) 135

Secured

Overnight

Financing

Rate

+

1.37%

4.87%,

01/26/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.44%

5.07%,

05/20/2031

(e) 105

Secured

Overnight

Financing

Rate

+

1.31%

5.12%,

01/26/2034

(e) 150

Secured

Overnight

Financing

Rate

+

1.85%

5.15%,

08/05/2032

(e) 140

Secured

Overnight

Financing

Rate

+

1.57%

5.44%,

01/24/2030

(e) 75

Secured

Overnight

Financing

Rate

+

1.62%

5.71%,

01/24/2035

(e) 60

Secured

Overnight

Financing

Rate

+

1.92%

5.87%,

06/08/2034

(e) 150

Secured

Overnight

Financing

Rate

+

2.36%

UBS

AG/Stamford

CT

5.00%,

07/09/2027

UBS

Group

AG

4.88%,

05/15/2045

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

US

Bancorp

2.22%,

01/27/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

0.73%

2.49%,

11/03/2036

(e) 175

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

3.00%,

07/30/2029

650

622

3.15%,

04/27/2027

4.65%,

02/01/2029

(e) 130

Secured

Overnight

Financing

Rate

+

1.23%

4.84%,

02/01/2034

(e) 130

Secured

Overnight

Financing

Rate

+

1.60%

5.05%,

02/12/2031

(e) 255

Secured

Overnight

Financing

Rate

+

1.06%

5.38%,

01/23/2030

(e) 60

Secured

Overnight

Financing

Rate

+

1.56%

5.68%,

01/23/2035

(e) 45

Secured

Overnight

Financing

Rate

+

1.86%

5.84%,

06/12/2034

(e) 295

Secured

Overnight

Financing

Rate

+

2.26%

5.85%,

10/21/2033

(e) 150

Secured

Overnight

Financing

Rate

+

2.09%

US

Bank

NA/Cincinnati

OH

4.73%,

05/15/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.91%

Wells

Fargo

&

Co

2.39%,

06/02/2028

(e) 250

Secured

Overnight

Financing

Rate

+

2.10%

3.00%,

10/23/2026

3.07%,

04/30/2041

(e) 280

Secured

Overnight

Financing

Rate

+

2.53%

3.35%,

03/02/2033

(e) 235

Secured

Overnight

Financing

Rate

+

1.50%

3.58%,

05/22/2028

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.08%,

09/15/2029

(e) 210

Secured

Overnight

Financing

Rate

+

0.88%

4.40%,

06/14/2046

4.48%,

04/04/2031

(e) 245

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.03%

4.61%,

04/25/2053

(e) 390

Secured

Overnight

Financing

Rate

+

2.13%

4.65%,

11/04/2044

4.81%,

07/25/2028

(e) 170

Secured

Overnight

Financing

Rate

+

1.98%

4.89%,

09/15/2036

(e) 105

Secured

Overnight

Financing

Rate

+

1.34%

4.90%,

01/24/2028

(e) 190

Secured

Overnight

Financing

Rate

+

0.78%

4.90%,

07/25/2033

(e) 170

Secured

Overnight

Financing

Rate

+

2.10%

4.90%,

11/17/2045

4.97%,

04/23/2029

(e) 110

Secured

Overnight

Financing

Rate

+

1.37%

5.01%,

04/04/2051

(e) 325

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

5.15%,

04/23/2031

(e) 330

Secured

Overnight

Financing

Rate

+

1.50%

5.20%,

01/23/2030

(e) 305

Secured

Overnight

Financing

Rate

+

1.50%

5.21%,

12/03/2035

(e) 265

Secured

Overnight

Financing

Rate

+

1.38%

5.24%,

01/24/2031

(e) 180

Secured

Overnight

Financing

Rate

+

1.11%

5.38%,

11/02/2043

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Wells

Fargo

&

Co

(continued)

5.39%,

04/24/2034

(e) $

$

Secured

Overnight

Financing

Rate

+

2.02%

5.50%,

01/23/2035

(e) 305

Secured

Overnight

Financing

Rate

+

1.78%

5.56%,

07/25/2034

(e) 225

Secured

Overnight

Financing

Rate

+

1.99%

5.57%,

07/25/2029

(e) 225

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

04/23/2036

(e) 110

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

01/15/2044

5.71%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.07%

6.30%,

10/23/2029

(e) 295

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/23/2034

(e) 295

Secured

Overnight

Financing

Rate

+

2.06%

Wells

Fargo

Bank

NA

5.25%,

12/11/2026

5.95%,

08/26/2036

500

533

6.60%,

01/15/2038

Westpac

Banking

Corp

2.96%,

11/16/2040

3.02%,

11/18/2036

(e) 150

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.53%

3.13%,

11/18/2041

4.11%,

07/24/2034

(e) 165

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

4.35%,

07/01/2030

(a) 70

4.42%,

07/24/2039

5.05%,

04/16/2029

5.46%,

11/18/2027

$

103,850

Beverages

-

.45

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

630

622

4.90%,

02/01/2046

824

772

Anheuser-Busch

InBev

Worldwide

Inc

4.75%,

01/23/2029

5.00%,

06/15/2034

5.45%,

01/23/2039

5.80%,

01/23/2059

8.20%,

01/15/2039

Coca-Cola

Co/The

1.00%,

03/15/2028

1.50%,

03/05/2028

1.65%,

06/01/2030

2.50%,

06/01/2040

2.88%,

05/05/2041

5.00%,

05/13/2034

5.30%,

05/13/2054

Constellation

Brands

Inc

2.25%,

08/01/2031

3.15%,

08/01/2029

630

606

4.35%,

05/09/2027

4.90%,

05/01/2033

(a) 75

Diageo

Capital

PLC

2.13%,

04/29/2032

2.38%,

10/24/2029

5.30%,

10/24/2027

5.63%,

10/05/2033

5.88%,

09/30/2036

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Beverages

(continued)

Keurig

Dr

Pepper

Inc

2.25%,

03/15/2031

$

$

3.35%,

03/15/2051

3.95%,

04/15/2029

4.05%,

04/15/2032

4.50%,

04/15/2052

5.10%,

03/15/2027

5.15%,

05/15/2035

Molson

Coors

Beverage

Co

5.00%,

05/01/2042

PepsiCo

Inc

1.63%,

05/01/2030

1.95%,

10/21/2031

2.63%,

07/29/2029

2.63%,

10/21/2041

2.88%,

10/15/2049

3.60%,

02/18/2028

4.20%,

07/18/2052

4.30%,

07/23/2030

4.45%,

02/07/2028

4.45%,

05/15/2028

4.65%,

07/23/2032

4.80%,

07/17/2034

5.00%,

02/07/2035

Pepsico

Singapore

Financing

I

Pte

Ltd

4.55%,

02/16/2029

$

8,539

Biotechnology

-

.35

%

Amgen

Inc

1.65%,

08/15/2028

2.00%,

01/15/2032

2.20%,

02/21/2027

2.45%,

02/21/2030

3.00%,

02/22/2029

3.00%,

01/15/2052

3.15%,

02/21/2040

3.38%,

02/21/2050

4.20%,

03/01/2033

4.20%,

02/22/2052

4.40%,

05/01/2045

4.66%,

06/15/2051

4.88%,

03/01/2053

5.15%,

03/02/2028

5.25%,

03/02/2030

5.25%,

03/02/2033

5.60%,

03/02/2043

5.65%,

03/02/2053

5.75%,

03/02/2063

Baxalta

Inc

5.25%,

06/23/2045

Biogen

Inc

2.25%,

05/01/2030

5.20%,

09/15/2045

Gilead

Sciences

Inc

1.65%,

10/01/2030

2.60%,

10/01/2040

2.80%,

10/01/2050

2.95%,

03/01/2027

4.00%,

09/01/2036

4.60%,

09/01/2035

500

5.10%,

06/15/2035

5.25%,

10/15/2033

5.50%,

11/15/2054

5.55%,

10/15/2053

Royalty

Pharma

PLC

1.75%,

09/02/2027

2.20%,

09/02/2030

3.30%,

09/02/2040

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Biotechnology

(continued)

Royalty

Pharma

PLC

(continued)

5.95%,

09/25/2055

$

$

$

6,514

Building

Materials

-

.23

%

Carrier

Global

Corp

2.49%,

02/15/2027

2.72%,

02/15/2030

3.38%,

04/05/2040

3.58%,

04/05/2050

5.90%,

03/15/2034

6.20%,

03/15/2054

CRH

America

Finance

Inc

5.50%,

01/09/2035

Johnson

Controls

International

plc

4.50%,

02/15/2047

500

Johnson

Controls

International

plc

/

Tyco

Fire

&

Security

Finance

SCA

2.00%,

09/16/2031

Martin

Marietta

Materials

Inc

2.50%,

03/15/2030

3.20%,

07/15/2051

5.15%,

12/01/2034

Masco

Corp

1.50%,

02/15/2028

4.50%,

05/15/2047

Owens

Corning

5.50%,

06/15/2027

5.70%,

06/15/2034

Trane

Technologies

Financing

Ltd

3.80%,

03/21/2029

600

593

5.10%,

06/13/2034

Vulcan

Materials

Co

3.50%,

06/01/2030

5.35%,

12/01/2034

$

4,295

Chemicals

-

.29

%

Air

Products

and

Chemicals

Inc

2.80%,

05/15/2050

4.60%,

02/08/2029

4.80%,

03/03/2033

4.90%,

10/11/2032

Albemarle

Corp

5.45%,

12/01/2044

Dow

Chemical

Co/The

2.10%,

11/15/2030

3.60%,

11/15/2050

4.38%,

11/15/2042

4.80%,

05/15/2049

5.15%,

02/15/2034

(a) 155

5.65%,

03/15/2036

9.40%,

05/15/2039

DuPont

de

Nemours

Inc

4.73%,

11/15/2028

5.32%,

11/15/2038

5.42%,

11/15/2048

Eastman

Chemical

Co

4.80%,

09/01/2042

Ecolab

Inc

1.30%,

01/30/2031

1.65%,

02/01/2027

2.75%,

08/18/2055

4.30%,

06/15/2028

4.80%,

03/24/2030

5.00%,

09/01/2035

LYB

International

Finance

III

LLC

2.25%,

10/01/2030

3.63%,

04/01/2051

4.20%,

10/15/2049

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

(continued)

LYB

International

Finance

III

LLC

(continued)

5.63%,

05/15/2033

$

$

Nutrien

Ltd

4.20%,

04/01/2029

4.50%,

03/12/2027

5.40%,

06/21/2034

5.80%,

03/27/2053

Sherwin-Williams

Co/The

2.20%,

03/15/2032

2.30%,

05/15/2030

2.95%,

08/15/2029

3.30%,

05/15/2050

3.80%,

08/15/2049

4.30%,

08/15/2028

Westlake

Corp

3.13%,

08/15/2051

$

5,403

Commercial

Mortgage

Backed

Securities

-

.95

%

BANK

2018-BNK10

3.69%,

02/15/2061

1,850

1,826

CFCRE

Commercial

Mortgage

Trust

2016-C4

3.28%,

05/10/2058

1,300

1,294

Citigroup

Commercial

Mortgage

Trust

2016-GC36

3.62%,

02/10/2049

1,000

994

COMM

2016-CR28

Mortgage

Trust

3.76%,

02/10/2049

890

889

Fannie

Mae-Aces

2.50%,

10/25/2026

(h) 655

643

2.96%,

02/25/2027

(h) 768

758

2.98%,

02/25/2027

(h) 514

507

3.09%,

12/25/2027

(h) 623

610

3.47%,

07/25/2028

(h) 1,959

1,932

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2.67%,

03/25/2026

989

981

3.41%,

12/25/2026

1,500

1,490

GS

Mortgage

Securities

Trust

2015-GC34

3.51%,

10/10/2048

GS

Mortgage

Securities

Trust

2017-GS5

3.47%,

03/10/2050

555

552

GS

Mortgage

Securities

Trust

2018-GS9

3.99%,

03/10/2051

(h) 1,500

1,486

Morgan

Stanley

Capital

I

Trust

2017-H1

3.26%,

06/15/2050

2,500

2,462

SG

Commercial

Mortgage

Securities

Trust

2016-C5

3.06%,

10/10/2048

1,000

985

$

17,807

Commercial

Services

-

.17

%

American

University/The

3.67%,

04/01/2049

California

Institute

of

Technology

4.32%,

08/01/2045

Global

Payments

Inc

3.20%,

08/15/2029

4.15%,

08/15/2049

Massachusetts

Institute

of

Technology

3.89%,

07/01/2116

4.68%,

07/01/2114

Moody's

Corp

4.25%,

08/08/2032

5.00%,

08/05/2034

5.25%,

07/15/2044

PayPal

Holdings

Inc

2.30%,

06/01/2030

2.85%,

10/01/2029

3.90%,

06/01/2027

4.40%,

06/01/2032

5.50%,

06/01/2054

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Services

(continued)

S&P

Global

Inc

1.25%,

08/15/2030

$

$

2.45%,

03/01/2027

2.50%,

12/01/2029

3.25%,

12/01/2049

3.70%,

03/01/2052

5.25%,

09/15/2033

TR

Finance

LLC

5.85%,

04/15/2040

University

of

Southern

California

5.25%,

10/01/2111

(a) 30

William

Marsh

Rice

University

3.57%,

05/15/2045

$

3,221

Computers

-

.51

%

Apple

Inc

1.20%,

02/08/2028

1.40%,

08/05/2028

1.65%,

05/11/2030

1.65%,

02/08/2031

2.20%,

09/11/2029

2.65%,

05/11/2050

2.70%,

08/05/2051

2.80%,

02/08/2061

2.90%,

09/12/2027

2.95%,

09/11/2049

3.20%,

05/11/2027

3.25%,

08/08/2029

3.35%,

02/09/2027

3.45%,

02/09/2045

3.75%,

09/12/2047

3.75%,

11/13/2047

3.85%,

05/04/2043

3.95%,

08/08/2052

4.20%,

05/12/2030

4.30%,

05/10/2033

(a) 150

4.50%,

05/12/2032

4.65%,

02/23/2046

4.75%,

05/12/2035

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

3.45%,

12/15/2051

4.35%,

02/01/2030

4.50%,

02/15/2031

(g) 130

4.75%,

04/01/2028

5.10%,

02/15/2036

(g) 130

5.25%,

02/01/2028

5.30%,

04/01/2032

5.40%,

04/15/2034

8.10%,

07/15/2036

8.35%,

07/15/2046

Hewlett

Packard

Enterprise

Co

4.05%,

09/15/2027

4.55%,

10/15/2029

4.85%,

10/15/2031

5.00%,

10/15/2034

6.20%,

10/15/2035

6.35%,

10/15/2045

HP

Inc

3.00%,

06/17/2027

4.75%,

01/15/2028

6.00%,

09/15/2041

6.10%,

04/25/2035

IBM

International

Capital

Pte

Ltd

4.75%,

02/05/2031

4.90%,

02/05/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Computers

(continued)

International

Business

Machines

Corp

2.20%,

02/09/2027

$

$

3.50%,

05/15/2029

4.00%,

06/20/2042

4.15%,

05/15/2039

4.25%,

05/15/2049

4.40%,

07/27/2032

(a) 165

4.50%,

02/06/2028

4.65%,

02/10/2028

4.70%,

02/19/2046

5.10%,

02/06/2053

5.60%,

11/30/2039

5.70%,

02/10/2055

5.88%,

11/29/2032

6.22%,

08/01/2027

NetApp

Inc

2.38%,

06/22/2027

$

9,547

Consumer

Products

-

.01

%

Church

&

Dwight

Co

Inc

3.95%,

08/01/2047

Cosmetics

&

Personal

Care

-

.13

%

Colgate-Palmolive

Co

4.20%,

05/01/2030

Estee

Lauder

Cos

Inc/The

1.95%,

03/15/2031

2.38%,

12/01/2029

Haleon

US

Capital

LLC

3.63%,

03/24/2032

Kenvue

Inc

4.85%,

05/22/2032

4.90%,

03/22/2033

5.05%,

03/22/2028

5.05%,

03/22/2053

5.10%,

03/22/2043

Procter

&

Gamble

Co/The

3.55%,

03/25/2040

4.60%,

05/01/2035

Unilever

Capital

Corp

1.38%,

09/14/2030

4.63%,

08/12/2034

4.88%,

09/08/2028

5.90%,

11/15/2032

$

2,464

Diversified

Financial

Services

-

.78

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

2.45%,

10/29/2026

3.00%,

10/29/2028

3.30%,

01/30/2032

3.40%,

10/29/2033

3.88%,

01/23/2028

4.38%,

11/15/2030

(g) 150

4.88%,

04/01/2028

4.95%,

09/10/2034

5.10%,

01/19/2029

5.38%,

12/15/2031

6.10%,

01/15/2027

Air

Lease

Corp

2.10%,

09/01/2028

2.88%,

01/15/2032

3.25%,

10/01/2029

5.10%,

03/01/2029

5.20%,

07/15/2031

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Ally

Financial

Inc

2.20%,

11/02/2028

$

$

4.75%,

06/09/2027

5.55%,

07/31/2033

(e) 100

Secured

Overnight

Financing

Rate

+

1.78%

8.00%,

11/01/2031

American

Express

Co

1.65%,

11/04/2026

3.30%,

05/03/2027

4.05%,

12/03/2042

4.73%,

04/25/2029

(e) 230

Secured

Overnight

Financing

Rate

+

1.26%

4.92%,

07/20/2033

(e) 210

Secured

Overnight

Financing

Rate

+

1.22%

5.09%,

01/30/2031

(e) 190

Secured

Overnight

Financing

Rate

+

1.02%

5.10%,

02/16/2028

(e) 155

Secured

Overnight

Financing

Rate

+

1.00%

5.28%,

07/27/2029

(e) 150

Secured

Overnight

Financing

Rate

+

1.28%

5.28%,

07/26/2035

(e) 215

Secured

Overnight

Financing

Rate

+

1.42%

5.53%,

04/25/2030

(e) 150

Secured

Overnight

Financing

Rate

+

1.09%

5.67%,

04/25/2036

(e) 110

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/30/2031

(e) 75

Secured

Overnight

Financing

Rate

+

1.94%

BlackRock

Funding

Inc

5.35%,

01/08/2055

Blackrock

Inc

2.10%,

02/25/2032

2.40%,

04/30/2030

Capital

One

Financial

Corp

1.88%,

11/02/2027

(e) 125

Secured

Overnight

Financing

Rate

+

0.86%

2.36%,

07/29/2032

(e) 190

Secured

Overnight

Financing

Rate

+

1.34%

4.10%,

02/09/2027

4.49%,

09/11/2031

(e) 105

Secured

Overnight

Financing

Rate

+

1.25%

4.93%,

05/10/2028

(e) 255

Secured

Overnight

Financing

Rate

+

2.06%

5.20%,

09/11/2036

(e) 105

Secured

Overnight

Financing

Rate

+

1.63%

5.46%,

07/26/2030

(e) 70

Secured

Overnight

Financing

Rate

+

1.56%

5.70%,

02/01/2030

(e) 155

Secured

Overnight

Financing

Rate

+

1.91%

5.82%,

02/01/2034

(e) 150

Secured

Overnight

Financing

Rate

+

2.60%

5.88%,

07/26/2035

(e) 70

Secured

Overnight

Financing

Rate

+

1.99%

6.05%,

02/01/2035

(e) 75

Secured

Overnight

Financing

Rate

+

2.26%

6.18%,

01/30/2036

(e) 65

Secured

Overnight

Financing

Rate

+

2.04%

6.31%,

06/08/2029

(e) 150

Secured

Overnight

Financing

Rate

+

2.64%

7.62%,

10/30/2031

(e) 225

Secured

Overnight

Financing

Rate

+

3.07%

Charles

Schwab

Corp/The

1.65%,

03/11/2031

2.00%,

03/20/2028

5.64%,

05/19/2029

(e) 150

Secured

Overnight

Financing

Rate

+

2.21%

6.14%,

08/24/2034

(e) 155

Secured

Overnight

Financing

Rate

+

2.01%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Charles

Schwab

Corp/The

(continued)

6.20%,

11/17/2029

(e) $

$

Secured

Overnight

Financing

Rate

+

1.88%

Intercontinental

Exchange

Inc

2.10%,

06/15/2030

2.65%,

09/15/2040

3.00%,

09/15/2060

4.00%,

09/15/2027

4.25%,

09/21/2048

4.95%,

06/15/2052

Jefferies

Financial

Group

Inc

2.63%,

10/15/2031

4.15%,

01/23/2030

6.50%,

01/20/2043

Mastercard

Inc

2.00%,

11/18/2031

2.95%,

11/21/2026

2.95%,

03/15/2051

3.35%,

03/26/2030

3.85%,

03/26/2050

4.55%,

03/15/2028

4.55%,

01/15/2035

Nasdaq

Inc

2.50%,

12/21/2040

5.35%,

06/28/2028

5.95%,

08/15/2053

Nomura

Holdings

Inc

2.33%,

01/22/2027

2.68%,

07/16/2030

5.84%,

01/18/2028

6.09%,

07/12/2033

Synchrony

Financial

5.02%,

07/29/2029

(e) 100

Secured

Overnight

Financing

Rate

+

1.40%

Visa

Inc

1.90%,

04/15/2027

2.05%,

04/15/2030

2.70%,

04/15/2040

3.65%,

09/15/2047

4.15%,

12/14/2035

4.30%,

12/14/2045

Western

Union

Co/The

6.20%,

11/17/2036

(a) 200

$

14,673

Electric

-

.26

%

AEP

Texas

Inc

2.10%,

07/01/2030

3.45%,

01/15/2050

3.45%,

05/15/2051

4.70%,

05/15/2032

5.25%,

05/15/2052

AEP

Transmission

Co

LLC

2.75%,

08/15/2051

4.00%,

12/01/2046

4.50%,

06/15/2052

5.40%,

03/15/2053

AES

Corp/The

2.45%,

01/15/2031

Alabama

Power

Co

1.45%,

09/15/2030

3.13%,

07/15/2051

4.30%,

03/15/2031

Ameren

Corp

1.75%,

03/15/2028

5.00%,

01/15/2029

5.70%,

12/01/2026

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Ameren

Illinois

Co

3.25%,

03/15/2050

$

$

3.85%,

09/01/2032

5.63%,

03/01/2055

American

Electric

Power

Co

Inc

2.30%,

03/01/2030

5.63%,

03/01/2033

6.05%,

03/15/2056

(e) 100

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.94%

Appalachian

Power

Co

3.30%,

06/01/2027

7.00%,

04/01/2038

(a) 120

Arizona

Public

Service

Co

2.60%,

08/15/2029

2.65%,

09/15/2050

4.50%,

04/01/2042

5.90%,

08/15/2055

Baltimore

Gas

and

Electric

Co

2.25%,

06/15/2031

4.55%,

06/01/2052

5.45%,

06/01/2035

5.65%,

06/01/2054

Berkshire

Hathaway

Energy

Co

1.65%,

05/15/2031

2.85%,

05/15/2051

3.80%,

07/15/2048

4.60%,

05/01/2053

5.15%,

11/15/2043

6.13%,

04/01/2036

CenterPoint

Energy

Houston

Electric

LLC

3.35%,

04/01/2051

4.25%,

02/01/2049

4.85%,

10/01/2052

4.95%,

04/01/2033

4.95%,

08/15/2035

5.20%,

10/01/2028

CenterPoint

Energy

Inc

2.95%,

03/01/2030

CMS

Energy

Corp

3.75%,

12/01/2050

(e) 180

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

Commonwealth

Edison

Co

3.00%,

03/01/2050

3.13%,

03/15/2051

5.30%,

06/01/2034

5.30%,

02/01/2053

5.65%,

06/01/2054

5.95%,

06/01/2055

Connecticut

Light

and

Power

Co/The

2.05%,

07/01/2031

3.20%,

03/15/2027

4.00%,

04/01/2048

4.95%,

01/15/2030

Consolidated

Edison

Co

of

New

York

Inc

3.00%,

12/01/2060

3.70%,

11/15/2059

3.88%,

06/15/2047

4.20%,

03/15/2042

4.30%,

12/01/2056

5.20%,

03/01/2033

5.85%,

03/15/2036

6.15%,

11/15/2052

6.75%,

04/01/2038

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Consumers

Energy

Co

4.20%,

09/01/2052

$

$

4.60%,

05/30/2029

4.90%,

02/15/2029

5.05%,

05/15/2035

Dayton

Power

&

Light

Co/The

4.55%,

08/15/2030

(i) 30

Dominion

Energy

Inc

3.30%,

04/15/2041

3.38%,

04/01/2030

4.60%,

05/15/2028

4.70%,

12/01/2044

4.90%,

08/01/2041

5.38%,

11/15/2032

5.45%,

03/15/2035

5.95%,

06/15/2035

DTE

Electric

Co

1.90%,

04/01/2028

2.25%,

03/01/2030

2.63%,

03/01/2031

3.95%,

03/01/2049

5.20%,

03/01/2034

5.25%,

05/15/2035

5.40%,

04/01/2053

DTE

Energy

Co

4.88%,

06/01/2028

5.05%,

10/01/2035

5.20%,

04/01/2030

Duke

Energy

Carolinas

LLC

4.00%,

09/30/2042

4.95%,

01/15/2033

5.25%,

03/15/2035

5.30%,

02/15/2040

5.35%,

01/15/2053

5.40%,

01/15/2054

Duke

Energy

Corp

3.15%,

08/15/2027

3.30%,

06/15/2041

3.50%,

06/15/2051

3.75%,

09/01/2046

4.50%,

08/15/2032

4.85%,

01/05/2029

5.00%,

08/15/2052

5.45%,

06/15/2034

5.70%,

09/15/2055

5.80%,

06/15/2054

6.10%,

09/15/2053

Duke

Energy

Florida

LLC

1.75%,

06/15/2030

2.50%,

12/01/2029

3.40%,

10/01/2046

5.65%,

04/01/2040

5.88%,

11/15/2033

5.95%,

11/15/2052

6.40%,

06/15/2038

Duke

Energy

Indiana

LLC

2.75%,

04/01/2050

5.40%,

04/01/2053

5.90%,

05/15/2055

6.12%,

10/15/2035

Duke

Energy

Ohio

Inc

2.13%,

06/01/2030

Duke

Energy

Progress

LLC

2.50%,

08/15/2050

5.55%,

03/15/2055

Emera

US

Finance

LP

4.75%,

06/15/2046

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Entergy

Arkansas

LLC

2.65%,

06/15/2051

$

$

5.15%,

01/15/2033

Entergy

Corp

1.90%,

06/15/2028

2.40%,

06/15/2031

Entergy

Louisiana

LLC

2.90%,

03/15/2051

3.10%,

06/15/2041

4.75%,

09/15/2052

5.15%,

09/15/2034

5.80%,

03/15/2055

Entergy

Texas

Inc

1.75%,

03/15/2031

4.00%,

03/30/2029

4.50%,

03/30/2039

Evergy

Kansas

Central

Inc

5.25%,

03/15/2035

5.70%,

03/15/2053

Evergy

Metro

Inc

5.13%,

08/15/2035

Eversource

Energy

1.65%,

08/15/2030

5.00%,

01/01/2027

5.13%,

05/15/2033

Exelon

Corp

3.35%,

03/15/2032

4.45%,

04/15/2046

5.13%,

03/15/2031

5.15%,

03/15/2029

5.63%,

06/15/2035

6.50%,

03/15/2055

(e) 55

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

FirstEnergy

Transmission

LLC

4.75%,

01/15/2033

(i) 100

Florida

Power

&

Light

Co

3.70%,

12/01/2047

4.05%,

10/01/2044

4.40%,

05/15/2028

4.80%,

05/15/2033

5.10%,

04/01/2033

5.30%,

06/15/2034

5.60%,

06/15/2054

5.69%,

03/01/2040

5.70%,

03/15/2055

Georgia

Power

Co

4.30%,

03/15/2042

4.55%,

03/15/2030

4.65%,

05/16/2028

4.70%,

05/15/2032

5.50%,

10/01/2055

Iberdrola

International

BV

6.75%,

07/15/2036

Interstate

Power

and

Light

Co

2.30%,

06/01/2030

4.10%,

09/26/2028

5.60%,

06/29/2035

5.60%,

10/01/2055

Jersey

Central

Power

&

Light

Co

4.40%,

01/15/2031

(i) 105

Kentucky

Utilities

Co

3.30%,

06/01/2050

5.85%,

08/15/2055

MidAmerican

Energy

Co

3.15%,

04/15/2050

3.65%,

04/15/2029

4.25%,

07/15/2049

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

MidAmerican

Energy

Co

(continued)

5.30%,

02/01/2055

$

$

Mississippi

Power

Co

4.25%,

03/15/2042

National

Rural

Utilities

Cooperative

Finance

Corp

2.40%,

03/15/2030

4.12%,

09/16/2027

4.15%,

08/25/2028

4.15%,

12/15/2032

4.80%,

03/15/2028

5.00%,

02/07/2031

5.15%,

06/15/2029

Nevada

Power

Co

2.40%,

05/01/2030

NextEra

Energy

Capital

Holdings

Inc

1.90%,

06/15/2028

2.25%,

06/01/2030

2.75%,

11/01/2029

4.69%,

09/01/2027

4.90%,

02/28/2028

4.90%,

03/15/2029

5.00%,

07/15/2032

5.05%,

03/15/2030

5.25%,

03/15/2034

5.25%,

02/28/2053

5.45%,

03/15/2035

5.65%,

05/01/2079

(e) 250

Month

USD

LIBOR

+

3.16%

6.50%,

08/15/2055

(e) 125

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

Northern

States

Power

Co/MN

2.90%,

03/01/2050

3.40%,

08/15/2042

5.10%,

05/15/2053

5.35%,

11/01/2039

5.65%,

05/15/2055

NorthWestern

Corp

4.18%,

11/15/2044

NSTAR

Electric

Co

4.55%,

06/01/2052

4.95%,

09/15/2052

5.20%,

03/01/2035

5.40%,

06/01/2034

Ohio

Power

Co

1.63%,

01/15/2031

Oncor

Electric

Delivery

Co

LLC

3.10%,

09/15/2049

4.15%,

06/01/2032

4.30%,

05/15/2028

4.50%,

03/20/2027

(i) 120

4.55%,

09/15/2032

4.60%,

06/01/2052

4.65%,

11/01/2029

5.25%,

09/30/2040

5.55%,

06/15/2054

Pacific

Gas

and

Electric

Co

2.10%,

08/01/2027

500

2.50%,

02/01/2031

3.30%,

08/01/2040

3.50%,

08/01/2050

615

4.20%,

06/01/2041

5.05%,

10/15/2032

(g) 80

5.70%,

03/01/2035

5.80%,

05/15/2034

5.90%,

06/15/2032

5.90%,

10/01/2054

6.10%,

01/15/2029

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Pacific

Gas

and

Electric

Co

(continued)

6.75%,

01/15/2053

$

$

PacifiCorp

2.90%,

06/15/2052

5.30%,

02/15/2031

5.35%,

12/01/2053

5.50%,

05/15/2054

6.25%,

10/15/2037

PECO

Energy

Co

2.80%,

06/15/2050

2.85%,

09/15/2051

4.38%,

08/15/2052

4.60%,

05/15/2052

4.88%,

09/15/2035

4.90%,

06/15/2033

PPL

Electric

Utilities

Corp

3.00%,

10/01/2049

3.95%,

06/01/2047

4.85%,

02/15/2034

5.00%,

05/15/2033

Progress

Energy

Inc

7.75%,

03/01/2031

Public

Service

Co

of

Colorado

1.88%,

06/15/2031

2.70%,

01/15/2051

4.50%,

06/01/2052

5.15%,

09/15/2035

5.25%,

04/01/2053

5.35%,

05/15/2034

5.85%,

05/15/2055

Public

Service

Co

of

New

Hampshire

4.40%,

07/01/2028

Public

Service

Co

of

Oklahoma

5.20%,

01/15/2035

5.25%,

01/15/2033

Public

Service

Electric

and

Gas

Co

3.00%,

05/15/2027

3.15%,

01/01/2050

3.65%,

09/01/2042

4.65%,

03/15/2033

4.85%,

08/01/2034

4.90%,

08/15/2035

5.30%,

08/01/2054

5.45%,

08/01/2053

Public

Service

Enterprise

Group

Inc

4.90%,

03/15/2030

5.88%,

10/15/2028

6.13%,

10/15/2033

Puget

Sound

Energy

Inc

2.89%,

09/15/2051

3.25%,

09/15/2049

5.60%,

09/15/2055

5.80%,

03/15/2040

San

Diego

Gas

&

Electric

Co

1.70%,

10/01/2030

3.32%,

04/15/2050

3.70%,

03/15/2052

Sempra

4.00%,

02/01/2048

6.00%,

10/15/2039

6.55%,

04/01/2055

(e) 370

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

Southern

California

Edison

Co

2.25%,

06/01/2030

2.85%,

08/01/2029

3.45%,

02/01/2052

3.65%,

02/01/2050

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Southern

California

Edison

Co

(continued)

4.00%,

04/01/2047

$

$

4.70%,

06/01/2027

4.88%,

02/01/2027

5.30%,

03/01/2028

5.45%,

06/01/2031

5.45%,

03/01/2035

5.50%,

03/15/2040

5.65%,

10/01/2028

5.70%,

03/01/2053

5.85%,

11/01/2027

5.90%,

03/01/2055

5.95%,

02/01/2038

Southern

Co/The

1.75%,

03/15/2028

5.20%,

06/15/2033

5.50%,

03/15/2029

5.70%,

10/15/2032

Southern

Power

Co

4.90%,

10/01/2035

Southwestern

Electric

Power

Co

4.10%,

09/15/2028

6.20%,

03/15/2040

Southwestern

Public

Service

Co

6.00%,

06/01/2054

Tampa

Electric

Co

3.45%,

03/15/2051

4.35%,

05/15/2044

Tucson

Electric

Power

Co

1.50%,

08/01/2030

3.25%,

05/01/2051

Union

Electric

Co

2.15%,

03/15/2032

2.63%,

03/15/2051

Virginia

Electric

and

Power

Co

2.30%,

11/15/2031

2.45%,

12/15/2050

2.95%,

11/15/2051

3.75%,

05/15/2027

4.20%,

05/15/2045

5.05%,

08/15/2034

5.45%,

04/01/2053

5.55%,

08/15/2054

5.60%,

09/15/2055

6.00%,

05/15/2037

8.88%,

11/15/2038

WEC

Energy

Group

Inc

1.38%,

10/15/2027

2.20%,

12/15/2028

Wisconsin

Electric

Power

Co

4.15%,

10/15/2030

4.75%,

09/30/2032

Wisconsin

Public

Service

Corp

2.85%,

12/01/2051

4.55%,

12/01/2029

Xcel

Energy

Inc

1.75%,

03/15/2027

2.60%,

12/01/2029

4.60%,

06/01/2032

4.75%,

03/21/2028

$

42,456

Electrical

Components

&

Equipment

-

.03

%

Emerson

Electric

Co

0.88%,

10/15/2026

2.20%,

12/21/2031

$

621

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electronics

-

.12

%

Amphenol

Corp

5.00%,

01/15/2035

$

$

5.05%,

04/05/2027

Honeywell

International

Inc

1.10%,

03/01/2027

1.75%,

09/01/2031

(a) 190

1.95%,

06/01/2030

2.50%,

11/01/2026

2.70%,

08/15/2029

4.25%,

01/15/2029

4.70%,

02/01/2030

5.00%,

02/15/2033

5.00%,

03/01/2035

5.25%,

03/01/2054

Tyco

Electronics

Group

SA

7.13%,

10/01/2037

$

2,217

Environmental

Control

-

.12

%

Republic

Services

Inc

1.75%,

02/15/2032

2.30%,

03/01/2030

5.00%,

11/15/2029

5.00%,

04/01/2034

5.15%,

03/15/2035

Waste

Connections

Inc

2.20%,

01/15/2032

4.20%,

01/15/2033

Waste

Management

Inc

2.00%,

06/01/2029

4.15%,

04/15/2032

4.63%,

02/15/2033

4.65%,

03/15/2030

4.88%,

02/15/2029

4.95%,

07/03/2031

4.95%,

03/15/2035

5.35%,

10/15/2054

$

2,313

Finance

-

Mortgage

Loan/Banker

-

.28

%

Fannie

Mae

0.75%,

10/08/2027

0.88%,

08/05/2030

5.63%,

07/15/2037

6.63%,

11/15/2030

7.13%,

01/15/2030

7.25%,

05/15/2030

Federal

Home

Loan

Banks

3.25%,

11/16/2028

500

3.50%,

09/09/2027

3.88%,

06/04/2027

4.00%,

10/09/2026

4.00%,

03/10/2027

4.00%,

06/30/2028

4.13%,

01/15/2027

4.63%,

11/17/2026

4.75%,

04/09/2027

5.50%,

07/15/2036

Freddie

Mac

6.25%,

07/15/2032

6.75%,

03/15/2031

577

660

$

5,224

Food

-

.40

%

Campbell's

Company/The

4.15%,

03/15/2028

Conagra

Brands

Inc

1.38%,

11/01/2027

4.85%,

11/01/2028

5.30%,

11/01/2038

5.40%,

11/01/2048

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Food

(continued)

General

Mills

Inc

2.25%,

10/14/2031

$

$

4.88%,

01/30/2030

4.95%,

03/29/2033

5.50%,

10/17/2028

Hershey

Co/The

1.70%,

06/01/2030

3.38%,

08/15/2046

J

M

Smucker

Co/The

2.13%,

03/15/2032

5.90%,

11/15/2028

6.50%,

11/15/2043

JBS

USA

Holding

Lux

Sarl

/

JBS

USA

Foods

Group

Holdings

Inc

/

JBS

USA

Food

Co

5.50%,

01/15/2036

(i) 105

6.25%,

03/01/2056

(i) 105

6.38%,

04/15/2066

(i) 105

JBS

USA

Holding

Lux

Sarl/

JBS

USA

Food

Co/

JBS

Lux

Co

Sarl

5.75%,

04/01/2033

6.50%,

12/01/2052

6.75%,

03/15/2034

JBS

USA

LUX

Sarl

/

JBS

USA

Food

Co

/

JBS

USA

Foods

Group

6.38%,

02/25/2055

(i) 130

Kellanova

2.10%,

06/01/2030

Koninklijke

Ahold

Delhaize

NV

5.70%,

10/01/2040

Kroger

Co/The

1.70%,

01/15/2031

3.70%,

08/01/2027

3.95%,

01/15/2050

4.45%,

02/01/2047

5.00%,

09/15/2034

5.15%,

08/01/2043

5.40%,

07/15/2040

5.50%,

09/15/2054

5.65%,

09/15/2064

McCormick

&

Co

Inc/MD

1.85%,

02/15/2031

Mondelez

International

Inc

1.50%,

02/04/2031

2.63%,

03/17/2027

2.63%,

09/04/2050

625

4.25%,

05/06/2028

4.50%,

05/06/2030

4.75%,

08/28/2034

Sysco

Corp

2.40%,

02/15/2030

2.45%,

12/14/2031

4.50%,

04/01/2046

4.85%,

10/01/2045

5.38%,

09/21/2035

5.40%,

03/23/2035

5.75%,

01/17/2029

Tyson

Foods

Inc

4.55%,

06/02/2047

520

$

7,517

Forest

Products

&

Paper

-

.04

%

Georgia-Pacific

LLC

7.75%,

11/15/2029

International

Paper

Co

4.80%,

06/15/2044

Suzano

Austria

GmbH

2.50%,

09/15/2028

5.00%,

01/15/2030

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Forest

Products

&

Paper

(continued)

Suzano

Netherlands

BV

5.50%,

01/15/2036

$

$

$

718

Gas

-

.17

%

Atmos

Energy

Corp

1.50%,

01/15/2031

3.38%,

09/15/2049

4.13%,

10/15/2044

5.45%,

01/15/2056

(g) 100

5.75%,

10/15/2052

5.90%,

11/15/2033

6.20%,

11/15/2053

CenterPoint

Energy

Resources

Corp

1.75%,

10/01/2030

4.40%,

07/01/2032

5.25%,

03/01/2028

NiSource

Inc

3.49%,

05/15/2027

3.60%,

05/01/2030

5.00%,

06/15/2052

5.25%,

03/30/2028

5.35%,

07/15/2035

5.40%,

06/30/2033

5.85%,

04/01/2055

Southern

California

Gas

Co

2.55%,

02/01/2030

5.05%,

09/01/2034

5.45%,

06/15/2035

5.75%,

06/01/2053

Southern

Co

Gas

Capital

Corp

1.75%,

01/15/2031

3.15%,

09/30/2051

5.10%,

09/15/2035

Washington

Gas

Light

Co

3.65%,

09/15/2049

$

3,238

Hand

&

Machine

Tools

-

.02

%

Stanley

Black

&

Decker

Inc

2.30%,

03/15/2030

2.75%,

11/15/2050

$

Healthcare

-

Products

-

.29

%

Abbott

Laboratories

3.75%,

11/30/2026

4.75%,

11/30/2036

4.90%,

11/30/2046

5.30%,

05/27/2040

Agilent

Technologies

Inc

2.10%,

06/04/2030

2.30%,

03/12/2031

Baxter

International

Inc

1.73%,

04/01/2031

1.92%,

02/01/2027

2.27%,

12/01/2028

Boston

Scientific

Corp

2.65%,

06/01/2030

4.70%,

03/01/2049

7.38%,

01/15/2040

Danaher

Corp

2.60%,

10/01/2050

DH

Europe

Finance

II

Sarl

2.60%,

11/15/2029

3.25%,

11/15/2039

GE

HealthCare

Technologies

Inc

5.50%,

06/15/2035

5.65%,

11/15/2027

5.86%,

03/15/2030

5.91%,

11/22/2032

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Products

(continued)

GE

HealthCare

Technologies

Inc

(continued)

6.38%,

11/22/2052

$

$

Koninklijke

Philips

NV

5.00%,

03/15/2042

Medtronic

Global

Holdings

SCA

4.25%,

03/30/2028

Medtronic

Inc

4.38%,

03/15/2035

Revvity

Inc

1.90%,

09/15/2028

Stryker

Corp

4.10%,

04/01/2043

4.63%,

03/15/2046

4.70%,

02/10/2028

4.85%,

12/08/2028

5.20%,

02/10/2035

Thermo

Fisher

Scientific

Inc

2.00%,

10/15/2031

2.60%,

10/01/2029

2.80%,

10/15/2041

4.20%,

03/01/2031

(g) 80

4.79%,

10/07/2035

(g) 80

4.80%,

11/21/2027

5.09%,

08/10/2033

5.40%,

08/10/2043

$

5,367

Healthcare

-

Services

-

.81

%

Aetna

Inc

6.63%,

06/15/2036

6.75%,

12/15/2037

Baylor

Scott

&

White

Holdings

3.97%,

11/15/2046

Centene

Corp

4.63%,

12/15/2029

500

Cigna

Group/The

2.40%,

03/15/2030

3.20%,

03/15/2040

3.40%,

03/15/2051

4.38%,

10/15/2028

4.80%,

08/15/2038

4.80%,

07/15/2046

4.88%,

09/15/2032

4.90%,

12/15/2048

5.13%,

05/15/2031

5.25%,

01/15/2036

5.60%,

02/15/2054

6.00%,

01/15/2056

6.13%,

11/15/2041

CommonSpirit

Health

4.35%,

11/01/2042

Elevance

Health

Inc

2.88%,

09/15/2029

3.13%,

05/15/2050

3.60%,

03/15/2051

3.65%,

12/01/2027

4.38%,

12/01/2047

4.60%,

09/15/2032

4.63%,

05/15/2042

4.65%,

01/15/2043

4.75%,

02/15/2030

4.75%,

02/15/2033

5.20%,

02/15/2035

5.38%,

06/15/2034

5.65%,

06/15/2054

5.70%,

02/15/2055

6.10%,

10/15/2052

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

HCA

Inc

2.38%,

07/15/2031

$

$

3.38%,

03/15/2029

3.50%,

07/15/2051

4.38%,

03/15/2042

4.50%,

02/15/2027

5.00%,

03/01/2028

5.20%,

06/01/2028

5.45%,

04/01/2031

5.45%,

09/15/2034

5.50%,

03/01/2032

5.50%,

06/01/2033

5.60%,

04/01/2034

5.75%,

03/01/2035

5.95%,

09/15/2054

6.00%,

04/01/2054

Humana

Inc

1.35%,

02/03/2027

2.15%,

02/03/2032

3.13%,

08/15/2029

4.95%,

10/01/2044

5.50%,

03/15/2053

5.55%,

05/01/2035

Kaiser

Foundation

Hospitals

3.27%,

11/01/2049

4.15%,

05/01/2047

Laboratory

Corp

of

America

Holdings

2.95%,

12/01/2029

4.70%,

02/01/2045

Mass

General

Brigham

Inc

3.19%,

07/01/2049

Quest

Diagnostics

Inc

2.95%,

06/30/2030

4.60%,

12/15/2027

5.00%,

12/15/2034

UnitedHealth

Group

Inc

2.75%,

05/15/2040

2.90%,

05/15/2050

3.05%,

05/15/2041

3.25%,

05/15/2051

3.45%,

01/15/2027

3.50%,

08/15/2039

3.70%,

05/15/2027

3.70%,

08/15/2049

4.25%,

01/15/2029

4.25%,

06/15/2048

4.40%,

06/15/2028

4.45%,

12/15/2048

4.60%,

04/15/2027

4.63%,

07/15/2035

4.70%,

04/15/2029

4.75%,

07/15/2045

4.75%,

05/15/2052

4.80%,

01/15/2030

4.95%,

01/15/2032

5.00%,

04/15/2034

5.15%,

07/15/2034

5.20%,

04/15/2063

5.25%,

02/15/2028

5.30%,

06/15/2035

5.35%,

02/15/2033

5.50%,

07/15/2044

5.50%,

04/15/2064

5.63%,

07/15/2054

5.88%,

02/15/2053

5.95%,

06/15/2055

6.50%,

06/15/2037

$

15,185

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Home

Builders

-

.02

%

DR

Horton

Inc

1.30%,

10/15/2026

$

$

1.40%,

10/15/2027

$

Insurance

-

.64

%

Allstate

Corp/The

1.45%,

12/15/2030

3.28%,

12/15/2026

5.25%,

03/30/2033

American

International

Group

Inc

5.13%,

03/27/2033

5.45%,

05/07/2035

Aon

Corp

2.80%,

05/15/2030

Aon

Corp

/

Aon

Global

Holdings

PLC

2.60%,

12/02/2031

2.85%,

05/28/2027

2.90%,

08/23/2051

5.00%,

09/12/2032

5.35%,

02/28/2033

Aon

North

America

Inc

5.13%,

03/01/2027

5.15%,

03/01/2029

5.45%,

03/01/2034

5.75%,

03/01/2054

Arch

Capital

Finance

LLC

5.03%,

12/15/2046

Arch

Capital

Group

US

Inc

5.14%,

11/01/2043

Arthur

J

Gallagher

&

Co

4.60%,

12/15/2027

4.85%,

12/15/2029

5.15%,

02/15/2035

5.55%,

02/15/2055

Athene

Holding

Ltd

4.13%,

01/12/2028

500

6.25%,

04/01/2054

6.63%,

05/19/2055

Berkshire

Hathaway

Finance

Corp

2.50%,

01/15/2051

2.85%,

10/15/2050

4.20%,

08/15/2048

4.25%,

01/15/2049

Berkshire

Hathaway

Inc

4.50%,

02/11/2043

Brown

&

Brown

Inc

4.90%,

06/23/2030

5.25%,

06/23/2032

5.55%,

06/23/2035

6.25%,

06/23/2055

Chubb

Corp/The

6.50%,

05/15/2038

Chubb

INA

Holdings

LLC

4.35%,

11/03/2045

4.65%,

08/15/2029

5.00%,

03/15/2034

6.70%,

05/15/2036

Corebridge

Financial

Inc

3.85%,

04/05/2029

3.90%,

04/05/2032

6.05%,

09/15/2033

Equitable

Holdings

Inc

4.35%,

04/20/2028

Hartford

Insurance

Group

Inc/The

2.90%,

09/15/2051

3.60%,

08/19/2049

4.30%,

04/15/2043

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

Lincoln

National

Corp

7.00%,

06/15/2040

$

$

Loews

Corp

4.13%,

05/15/2043

Manulife

Financial

Corp

5.38%,

03/04/2046

Markel

Group

Inc

3.45%,

05/07/2052

Marsh

&

McLennan

Cos

Inc

4.38%,

03/15/2029

4.55%,

11/08/2027

4.85%,

11/15/2031

4.90%,

03/15/2049

5.00%,

03/15/2035

5.40%,

09/15/2033

5.40%,

03/15/2055

5.70%,

09/15/2053

6.25%,

11/01/2052

MetLife

Inc

4.05%,

03/01/2045

4.60%,

05/13/2046

4.88%,

11/13/2043

5.25%,

01/15/2054

5.30%,

12/15/2034

5.70%,

06/15/2035

6.40%,

12/15/2066

Progressive

Corp/The

3.20%,

03/26/2030

3.70%,

03/15/2052

4.35%,

04/25/2044

Prudential

Financial

Inc

3.70%,

10/01/2050

(e) 165

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.04%

3.70%,

03/13/2051

630

3.91%,

12/07/2047

5.20%,

03/14/2035

5.70%,

12/14/2036

5.70%,

09/15/2048

(e) 200

Month

USD

LIBOR

+

2.67%

Travelers

Cos

Inc/The

3.05%,

06/08/2051

4.00%,

05/30/2047

5.05%,

07/24/2035

5.45%,

05/25/2053

6.25%,

06/15/2037

6.75%,

06/20/2036

W

R

Berkley

Corp

4.00%,

05/12/2050

Willis

North

America

Inc

2.95%,

09/15/2029

3.88%,

09/15/2049

5.35%,

05/15/2033

XL

Group

Ltd

5.25%,

12/15/2043

$

12,108

Internet

-

.40

%

Alibaba

Group

Holding

Ltd

2.13%,

02/09/2031

4.20%,

12/06/2047

4.40%,

12/06/2057

Alphabet

Inc

0.80%,

08/15/2027

4.00%,

05/15/2030

5.25%,

05/15/2055

5.30%,

05/15/2065

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Internet

(continued)

Amazon.com

Inc

2.10%,

05/12/2031

$

$

2.88%,

05/12/2041

3.10%,

05/12/2051

3.15%,

08/22/2027

3.25%,

05/12/2061

3.30%,

04/13/2027

3.60%,

04/13/2032

3.88%,

08/22/2037

3.95%,

04/13/2052

4.05%,

08/22/2047

4.65%,

12/01/2029

4.70%,

12/01/2032

4.80%,

12/05/2034

4.95%,

12/05/2044

Baidu

Inc

2.38%,

10/09/2030

eBay

Inc

2.60%,

05/10/2031

4.00%,

07/15/2042

5.95%,

11/22/2027

(a) 155

Expedia

Group

Inc

2.95%,

03/15/2031

Meta

Platforms

Inc

3.85%,

08/15/2032

4.45%,

08/15/2052

4.75%,

08/15/2034

4.95%,

05/15/2033

5.40%,

08/15/2054

5.55%,

08/15/2064

5.60%,

05/15/2053

Netflix

Inc

4.90%,

08/15/2034

5.88%,

11/15/2028

Uber

Technologies

Inc

4.15%,

01/15/2031

4.80%,

09/15/2035

$

7,443

Investment

Companies

-

.02

%

Ares

Capital

Corp

5.10%,

01/15/2031

5.50%,

09/01/2030

Blackstone

Private

Credit

Fund

5.05%,

09/10/2030

$

Iron

&

Steel

-

.08

%

ArcelorMittal

SA

6.00%,

06/17/2034

(a) 300

Nucor

Corp

3.13%,

04/01/2032

4.30%,

05/23/2027

Steel

Dynamics

Inc

1.65%,

10/15/2027

5.38%,

08/15/2034

5.75%,

05/15/2055

Vale

Overseas

Ltd

6.13%,

06/12/2033

6.40%,

06/28/2054

$

1,473

Lodging

-

.06

%

Hyatt

Hotels

Corp

5.25%,

06/30/2029

Marriott

International

Inc/MD

2.85%,

04/15/2031

5.00%,

10/15/2027

5.25%,

10/15/2035

5.35%,

03/15/2035

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Lodging

(continued)

Marriott

International

Inc/MD

(continued)

5.55%,

10/15/2028

$

$

$

1,134

Machinery

-

Construction

&

Mining

-

.06

%

Caterpillar

Financial

Services

Corp

1.10%,

09/14/2027

4.50%,

01/08/2027

4.70%,

11/15/2029

5.00%,

05/14/2027

Caterpillar

Inc

2.60%,

04/09/2030

3.25%,

09/19/2049

3.80%,

08/15/2042

5.50%,

05/15/2055

$

1,157

Machinery

-

Diversified

-

.15

%

Deere

&

Co

3.90%,

06/09/2042

5.45%,

01/16/2035

Dover

Corp

5.38%,

03/01/2041

Ingersoll

Rand

Inc

5.20%,

06/15/2027

5.31%,

06/15/2031

John

Deere

Capital

Corp

2.35%,

03/08/2027

2.80%,

07/18/2029

4.15%,

09/15/2027

4.35%,

09/15/2032

4.50%,

01/08/2027

4.55%,

06/05/2030

4.85%,

06/11/2029

4.90%,

06/11/2027

4.90%,

03/07/2031

4.95%,

07/14/2028

5.10%,

04/11/2034

Otis

Worldwide

Corp

2.57%,

02/15/2030

3.36%,

02/15/2050

5.13%,

09/04/2035

Rockwell

Automation

Inc

1.75%,

08/15/2031

2.80%,

08/15/2061

$

2,829

Media

-

.54

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

2.25%,

01/15/2029

2.30%,

02/01/2032

2.80%,

04/01/2031

3.50%,

06/01/2041

3.70%,

04/01/2051

3.85%,

04/01/2061

3.90%,

06/01/2052

4.40%,

12/01/2061

4.80%,

03/01/2050

5.75%,

04/01/2048

6.48%,

10/23/2045

6.55%,

06/01/2034

6.70%,

12/01/2055

Comcast

Corp

1.50%,

02/15/2031

2.35%,

01/15/2027

2.45%,

08/15/2052

2.65%,

02/01/2030

2.65%,

08/15/2062

2.89%,

11/01/2051

3.25%,

11/01/2039

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

(continued)

Comcast

Corp

(continued)

3.40%,

07/15/2046

$

$

3.45%,

02/01/2050

3.55%,

05/01/2028

3.75%,

04/01/2040

3.90%,

03/01/2038

4.00%,

08/15/2047

4.00%,

03/01/2048

4.00%,

11/01/2049

4.15%,

10/15/2028

4.25%,

01/15/2033

4.55%,

01/15/2029

4.80%,

05/15/2033

4.95%,

05/15/2032

5.30%,

06/01/2034

5.35%,

05/15/2053

575

539

5.50%,

11/15/2032

5.65%,

06/15/2035

(a) 20

5.65%,

06/01/2054

6.05%,

05/15/2055

7.05%,

03/15/2033

Fox

Corp

5.48%,

01/25/2039

5.58%,

01/25/2049

6.50%,

10/13/2033

NBCUniversal

Media

LLC

4.45%,

01/15/2043

Paramount

Global

4.20%,

05/19/2032

4.38%,

03/15/2043

4.85%,

07/01/2042

6.88%,

04/30/2036

7.88%,

07/30/2030

Time

Warner

Cable

Enterprises

LLC

8.38%,

07/15/2033

Time

Warner

Cable

LLC

5.50%,

09/01/2041

5.88%,

11/15/2040

6.55%,

05/01/2037

6.75%,

06/15/2039

7.30%,

07/01/2038

TWDC

Enterprises

Corp

3.70%,

12/01/2042

7.00%,

03/01/2032

Walt

Disney

Co/The

2.65%,

01/13/2031

2.75%,

09/01/2049

3.50%,

05/13/2040

3.60%,

01/13/2051

3.70%,

03/23/2027

4.63%,

03/23/2040

4.75%,

11/15/2046

4.95%,

10/15/2045

6.20%,

12/15/2034

6.40%,

12/15/2035

$

10,119

Metal

Fabrication

&

Hardware

-

.01

%

Precision

Castparts

Corp

4.38%,

06/15/2045

Mining

-

.16

%

Barrick

North

America

Finance

LLC

5.75%,

05/01/2043

Barrick

PD

Australia

Finance

Pty

Ltd

5.95%,

10/15/2039

BHP

Billiton

Finance

USA

Ltd

4.13%,

02/24/2042

4.90%,

02/28/2033

5.00%,

02/21/2030

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mining

(continued)

BHP

Billiton

Finance

USA

Ltd

(continued)

5.00%,

02/15/2036

$

$

5.00%,

09/30/2043

5.25%,

09/08/2030

5.50%,

09/08/2053

Newmont

Corp

2.60%,

07/15/2032

(a) 140

Rio

Tinto

Alcan

Inc

6.13%,

12/15/2033

Rio

Tinto

Finance

USA

Ltd

2.75%,

11/02/2051

Rio

Tinto

Finance

USA

PLC

4.75%,

03/22/2042

4.88%,

03/14/2030

5.00%,

03/09/2033

5.25%,

03/14/2035

5.75%,

03/14/2055

Southern

Copper

Corp

5.88%,

04/23/2045

6.75%,

04/16/2040

$

3,024

Miscellaneous

Manufacturers

-

.12

%

3M

Co

2.38%,

08/26/2029

500

5.15%,

03/15/2035

Eaton

Corp

3.10%,

09/15/2027

575

567

4.00%,

11/02/2032

4.15%,

03/15/2033

4.15%,

11/02/2042

Parker-Hannifin

Corp

4.25%,

09/15/2027

4.50%,

09/15/2029

Teledyne

Technologies

Inc

2.25%,

04/01/2028

$

2,305

Oil

&

Gas

-

.76

%

BP

Capital

Markets

America

Inc

1.75%,

08/10/2030

2.72%,

01/12/2032

2.77%,

11/10/2050

2.94%,

06/04/2051

3.00%,

02/24/2050

3.00%,

03/17/2052

3.06%,

06/17/2041

3.54%,

04/06/2027

3.59%,

04/14/2027

4.70%,

04/10/2029

4.81%,

02/13/2033

4.89%,

09/11/2033

4.97%,

10/17/2029

4.99%,

04/10/2034

5.02%,

11/17/2027

5.23%,

11/17/2034

BP

Capital

Markets

PLC

3.72%,

11/28/2028

Canadian

Natural

Resources

Ltd

3.85%,

06/01/2027

4.95%,

06/01/2047

5.00%,

12/15/2029

(i) 40

6.25%,

03/15/2038

Chevron

Corp

2.00%,

05/11/2027

Chevron

USA

Inc

1.02%,

08/12/2027

4.05%,

08/13/2028

4.30%,

10/15/2030

4.69%,

04/15/2030

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Chevron

USA

Inc

(continued)

4.82%,

04/15/2032

$

$

4.85%,

10/15/2035

ConocoPhillips

Co

3.80%,

03/15/2052

4.03%,

03/15/2062

4.30%,

11/15/2044

4.70%,

01/15/2030

5.00%,

01/15/2035

5.05%,

09/15/2033

5.50%,

01/15/2055

5.55%,

03/15/2054

Devon

Energy

Corp

5.00%,

06/15/2045

5.20%,

09/15/2034

(a) 105

5.60%,

07/15/2041

5.75%,

09/15/2054

Diamondback

Energy

Inc

3.25%,

12/01/2026

5.15%,

01/30/2030

5.20%,

04/18/2027

5.40%,

04/18/2034

5.75%,

04/18/2054

EOG

Resources

Inc

4.40%,

07/15/2028

5.35%,

01/15/2036

5.65%,

12/01/2054

5.95%,

07/15/2055

Equinor

ASA

3.00%,

04/06/2027

3.25%,

11/18/2049

3.63%,

04/06/2040

4.25%,

06/02/2028

Exxon

Mobil

Corp

2.44%,

08/16/2029

(a) 75

2.61%,

10/15/2030

3.00%,

08/16/2039

3.10%,

08/16/2049

3.45%,

04/15/2051

4.23%,

03/19/2040

Hess

Corp

5.60%,

02/15/2041

7.13%,

03/15/2033

7.30%,

08/15/2031

Marathon

Petroleum

Corp

5.00%,

09/15/2054

5.13%,

12/15/2026

Occidental

Petroleum

Corp

5.00%,

08/01/2027

5.20%,

08/01/2029

5.38%,

01/01/2032

6.05%,

10/01/2054

6.45%,

09/15/2036

6.63%,

09/01/2030

Phillips

2.15%,

12/15/2030

5.88%,

05/01/2042

Phillips

Co

4.95%,

12/01/2027

5.25%,

06/15/2031

5.50%,

03/15/2055

Pioneer

Natural

Resources

Co

1.90%,

08/15/2030

2.15%,

01/15/2031

Shell

Finance

US

Inc

2.38%,

11/07/2029

2.75%,

04/06/2030

3.25%,

04/06/2050

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Shell

Finance

US

Inc

(continued)

4.00%,

05/10/2046

$

$

4.38%,

05/11/2045

4.55%,

08/12/2043

Shell

International

Finance

BV

2.88%,

11/26/2041

3.13%,

11/07/2049

3.63%,

08/21/2042

5.50%,

03/25/2040

6.38%,

12/15/2038

Suncor

Energy

Inc

3.75%,

03/04/2051

4.00%,

11/15/2047

6.80%,

05/15/2038

6.85%,

06/01/2039

TotalEnergies

Capital

International

SA

2.83%,

01/10/2030

2.99%,

06/29/2041

3.13%,

05/29/2050

3.39%,

06/29/2060

3.46%,

07/12/2049

TotalEnergies

Capital

SA

5.15%,

04/05/2034

5.28%,

09/10/2054

5.43%,

09/10/2064

5.49%,

04/05/2054

Valero

Energy

Corp

2.80%,

12/01/2031

4.00%,

06/01/2052

6.63%,

06/15/2037

7.50%,

04/15/2032

Woodside

Finance

Ltd

5.40%,

05/19/2030

6.00%,

05/19/2035

$

14,260

Oil

&

Gas

Services

-

.07

%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co-

Obligor

Inc

2.06%,

12/15/2026

3.14%,

11/07/2029

3.34%,

12/15/2027

4.08%,

12/15/2047

Halliburton

Co

4.50%,

11/15/2041

4.85%,

11/15/2035

7.45%,

09/15/2039

NOV

Inc

3.60%,

12/01/2029

3.95%,

12/01/2042

$

1,277

Packaging

&

Containers

-

.04

%

Packaging

Corp

of

America

3.00%,

12/15/2029

3.05%,

10/01/2051

Smurfit

Westrock

Financing

DAC

5.42%,

01/15/2035

$

677

Pharmaceuticals

-

.26

%

AbbVie

Inc

2.95%,

11/21/2026

3.20%,

11/21/2029

4.05%,

11/21/2039

4.25%,

11/21/2049

4.30%,

05/14/2036

4.40%,

11/06/2042

4.45%,

05/14/2046

4.50%,

05/14/2035

4.63%,

10/01/2042

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

AbbVie

Inc

(continued)

4.75%,

03/15/2045

$

$

4.80%,

03/15/2027

4.80%,

03/15/2029

4.88%,

11/14/2048

4.95%,

03/15/2031

5.05%,

03/15/2034

5.20%,

03/15/2035

5.40%,

03/15/2054

5.60%,

03/15/2055

Astrazeneca

Finance

LLC

1.75%,

05/28/2028

4.80%,

02/26/2027

4.85%,

02/26/2029

4.88%,

03/03/2028

4.88%,

03/03/2033

AstraZeneca

PLC

4.00%,

09/18/2042

4.38%,

11/16/2045

4.38%,

08/17/2048

6.45%,

09/15/2037

Becton

Dickinson

&

Co

1.96%,

02/11/2031

2.82%,

05/20/2030

3.70%,

06/06/2027

4.67%,

06/06/2047

4.69%,

12/15/2044

5.08%,

06/07/2029

Bristol-Myers

Squibb

Co

1.13%,

11/13/2027

2.55%,

11/13/2050

2.95%,

03/15/2032

3.25%,

08/01/2042

3.40%,

07/26/2029

3.55%,

03/15/2042

3.70%,

03/15/2052

4.13%,

06/15/2039

4.25%,

10/26/2049

4.35%,

11/15/2047

4.90%,

02/22/2027

5.20%,

02/22/2034

5.50%,

02/22/2044

5.55%,

02/22/2054

5.75%,

02/01/2031

6.40%,

11/15/2063

Cardinal

Health

Inc

3.41%,

06/15/2027

4.50%,

09/15/2030

4.60%,

03/15/2043

CVS

Health

Corp

1.30%,

08/21/2027

1.75%,

08/21/2030

1.88%,

02/28/2031

3.25%,

08/15/2029

4.30%,

03/25/2028

4.78%,

03/25/2038

5.00%,

01/30/2029

5.00%,

09/15/2032

5.05%,

03/25/2048

880

783

5.13%,

07/20/2045

5.25%,

02/21/2033

5.30%,

06/01/2033

5.30%,

12/05/2043

5.55%,

06/01/2031

5.63%,

02/21/2053

5.70%,

06/01/2034

5.88%,

06/01/2053

6.25%,

09/15/2065

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Eli

Lilly

&

Co

3.95%,

03/15/2049

$

$

4.00%,

10/15/2028

4.55%,

02/12/2028

4.55%,

10/15/2032

4.60%,

08/14/2034

4.70%,

02/27/2033

4.70%,

02/09/2034

4.75%,

02/12/2030

4.88%,

02/27/2053

5.00%,

02/09/2054

5.05%,

08/14/2054

5.60%,

02/12/2065

5.65%,

10/15/2065

GlaxoSmithKline

Capital

Inc

4.50%,

04/15/2030

4.88%,

04/15/2035

5.38%,

04/15/2034

500

528

Johnson

&

Johnson

3.63%,

03/03/2037

3.70%,

03/01/2046

4.50%,

03/01/2027

4.55%,

03/01/2028

4.80%,

06/01/2029

4.95%,

06/01/2034

(a) 130

McKesson

Corp

4.65%,

05/30/2030

Mead

Johnson

Nutrition

Co

4.60%,

06/01/2044

Merck

&

Co

Inc

1.70%,

06/10/2027

2.15%,

12/10/2031

2.35%,

06/24/2040

3.60%,

09/15/2042

3.70%,

02/10/2045

3.85%,

09/15/2027

3.90%,

03/07/2039

4.00%,

03/07/2049

4.15%,

09/15/2030

4.15%,

05/18/2043

4.50%,

05/17/2033

4.95%,

09/15/2035

5.00%,

05/17/2053

Novartis

Capital

Corp

3.80%,

09/18/2029

4.20%,

09/18/2034

4.40%,

05/06/2044

4.70%,

09/18/2054

Pfizer

Inc

1.70%,

05/28/2030

2.55%,

05/28/2040

2.63%,

04/01/2030

2.70%,

05/28/2050

4.00%,

03/15/2049

4.40%,

05/15/2044

7.20%,

03/15/2039

Pfizer

Investment

Enterprises

Pte

Ltd

4.45%,

05/19/2028

4.65%,

05/19/2030

4.75%,

05/19/2033

5.11%,

05/19/2043

5.30%,

05/19/2053

5.34%,

05/19/2063

Takeda

Pharmaceutical

Co

Ltd

2.05%,

03/31/2030

3.18%,

07/09/2050

5.30%,

07/05/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Takeda

US

Financing

Inc

5.90%,

07/07/2055

$

$

Utah

Acquisition

Sub

Inc

5.25%,

06/15/2046

Viatris

Inc

2.30%,

06/22/2027

2.70%,

06/22/2030

3.85%,

06/22/2040

4.00%,

06/22/2050

Wyeth

LLC

5.95%,

04/01/2037

6.50%,

02/01/2034

Zoetis

Inc

2.00%,

05/15/2030

3.00%,

05/15/2050

3.95%,

09/12/2047

4.15%,

08/17/2028

$

23,744

Pipelines

-

.98

%

Cheniere

Corpus

Christi

Holdings

LLC

3.70%,

11/15/2029

Cheniere

Energy

Partners

LP

5.55%,

10/30/2035

(i) 85

5.75%,

08/15/2034

Eastern

Gas

Transmission

&

Storage

Inc

4.80%,

11/01/2043

Enbridge

Energy

Partners

LP

7.38%,

10/15/2045

Enbridge

Inc

1.60%,

10/04/2026

2.50%,

08/01/2033

3.13%,

11/15/2029

3.40%,

08/01/2051

4.60%,

06/20/2028

5.30%,

04/05/2029

5.50%,

12/01/2046

5.55%,

06/20/2035

5.70%,

03/08/2033

5.90%,

11/15/2026

5.95%,

04/05/2054

6.70%,

11/15/2053

Energy

Transfer

LP

3.75%,

05/15/2030

4.95%,

01/15/2043

5.00%,

05/15/2044

5.25%,

04/15/2029

5.30%,

04/15/2047

5.35%,

05/15/2045

5.55%,

05/15/2034

5.70%,

04/01/2035

5.75%,

02/15/2033

6.05%,

09/01/2054

6.10%,

12/01/2028

6.13%,

12/15/2045

6.25%,

04/15/2049

6.40%,

12/01/2030

6.50%,

02/01/2042

Enterprise

Products

Operating

LLC

3.30%,

02/15/2053

3.70%,

01/31/2051

4.25%,

02/15/2048

4.60%,

01/15/2031

4.85%,

01/31/2034

4.85%,

08/15/2042

4.85%,

03/15/2044

4.90%,

05/15/2046

4.95%,

02/15/2035

5.20%,

01/15/2036

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

Enterprise

Products

Operating

LLC

(continued)

5.55%,

02/16/2055

$

$

6.13%,

10/15/2039

6.45%,

09/01/2040

6.88%,

03/01/2033

Kinder

Morgan

Energy

Partners

LP

4.70%,

11/01/2042

5.00%,

03/01/2043

6.38%,

03/01/2041

6.50%,

09/01/2039

6.95%,

01/15/2038

7.40%,

03/15/2031

Kinder

Morgan

Inc

1.75%,

11/15/2026

2.00%,

02/15/2031

3.25%,

08/01/2050

3.60%,

02/15/2051

5.00%,

02/01/2029

5.05%,

02/15/2046

5.20%,

06/01/2033

5.40%,

02/01/2034

5.55%,

06/01/2045

5.85%,

06/01/2035

5.95%,

08/01/2054

(a) 140

MPLX

LP

4.13%,

03/01/2027

4.25%,

12/01/2027

4.50%,

04/15/2038

4.70%,

04/15/2048

4.80%,

02/15/2031

4.90%,

04/15/2058

5.00%,

01/15/2033

5.00%,

03/01/2033

5.20%,

03/01/2047

5.20%,

12/01/2047

5.50%,

06/01/2034

5.50%,

02/15/2049

5.95%,

04/01/2055

6.20%,

09/15/2055

ONEOK

Inc

3.40%,

09/01/2029

4.25%,

09/24/2027

4.45%,

09/01/2049

500

4.75%,

10/15/2031

5.40%,

10/15/2035

5.55%,

11/01/2026

5.70%,

11/01/2054

5.85%,

11/01/2064

6.05%,

09/01/2033

6.25%,

10/15/2055

6.63%,

09/01/2053

Plains

All

American

Pipeline

LP

5.95%,

06/15/2035

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.30%,

01/31/2043

4.50%,

12/15/2026

5.60%,

01/15/2036

Sabine

Pass

Liquefaction

LLC

5.00%,

03/15/2027

Targa

Resources

Corp

4.90%,

09/15/2030

5.20%,

07/01/2027

5.65%,

02/15/2036

6.13%,

03/15/2033

6.13%,

05/15/2055

6.15%,

03/01/2029

6.50%,

03/30/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

Texas

Eastern

Transmission

LP

7.00%,

07/15/2032

$

$

TransCanada

PipeLines

Ltd

4.25%,

05/15/2028

5.60%,

03/31/2034

6.10%,

06/01/2040

7.25%,

08/15/2038

Western

Midstream

Operating

LP

5.45%,

11/15/2034

6.15%,

04/01/2033

Williams

Cos

Inc/The

2.60%,

03/15/2031

3.50%,

10/15/2051

3.75%,

06/15/2027

4.90%,

03/15/2029

5.10%,

09/15/2045

5.30%,

08/15/2028

5.30%,

08/15/2052

5.65%,

03/15/2033

6.00%,

03/15/2055

6.30%,

04/15/2040

$

18,439

Private

Equity

-

.06

%

Brookfield

Finance

Inc

2.72%,

04/15/2031

3.50%,

03/30/2051

3.90%,

01/25/2028

5.33%,

01/15/2036

5.68%,

01/15/2035

Brookfield

Finance

LLC

/

Brookfield

Finance

Inc

3.45%,

04/15/2050

$

1,055

Regional

Authority

-

.23

%

Province

of

Alberta

Canada

1.30%,

07/22/2030

3.30%,

03/15/2028

4.50%,

06/26/2029

Province

of

British

Columbia

Canada

1.30%,

01/29/2031

3.90%,

08/27/2030

4.20%,

07/06/2033

4.70%,

01/24/2028

4.75%,

06/12/2034

4.80%,

11/15/2028

4.80%,

06/11/2035

Province

of

Manitoba

Canada

1.50%,

10/25/2028

4.30%,

07/27/2033

Province

of

Ontario

Canada

1.13%,

10/07/2030

2.13%,

01/21/2032

3.10%,

05/19/2027

3.70%,

09/17/2029

3.90%,

09/04/2030

4.20%,

01/18/2029

4.70%,

01/15/2030

4.85%,

06/11/2035

Province

of

Quebec

Canada

1.35%,

05/28/2030

3.63%,

04/13/2028

4.25%,

09/05/2034

4.50%,

04/03/2029

4.50%,

09/08/2033

4.63%,

08/28/2035

7.50%,

09/15/2029

$

4,396

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

-

.88

%

Alexandria

Real

Estate

Equities

Inc

1.88%,

02/01/2033

$

$

2.75%,

12/15/2029

2.95%,

03/15/2034

3.00%,

05/18/2051

3.38%,

08/15/2031

4.00%,

02/01/2050

4.90%,

12/15/2030

5.15%,

04/15/2053

American

Homes

Rent

LP

4.95%,

06/15/2030

American

Tower

Corp

1.88%,

10/15/2030

2.90%,

01/15/2030

2.95%,

01/15/2051

3.38%,

10/15/2026

3.65%,

03/15/2027

3.70%,

10/15/2049

5.25%,

07/15/2028

5.35%,

03/15/2035

5.65%,

03/15/2033

5.90%,

11/15/2033

AvalonBay

Communities

Inc

1.90%,

12/01/2028

2.30%,

03/01/2030

5.00%,

02/15/2033

5.00%,

08/01/2035

5.35%,

06/01/2034

Boston

Properties

LP

2.55%,

04/01/2032

2.75%,

10/01/2026

2.90%,

03/15/2030

COPT

Defense

Properties

LP

2.75%,

04/15/2031

Crown

Castle

Inc

2.50%,

07/15/2031

2.90%,

04/01/2041

3.10%,

11/15/2029

3.25%,

01/15/2051

3.30%,

07/01/2030

4.00%,

11/15/2049

4.90%,

09/01/2029

5.00%,

01/11/2028

5.10%,

05/01/2033

CubeSmart

LP

2.00%,

02/15/2031

2.25%,

12/15/2028

5.13%,

11/01/2035

Digital

Realty

Trust

LP

4.45%,

07/15/2028

5.55%,

01/15/2028

Equinix

Inc

1.80%,

07/15/2027

2.50%,

05/15/2031

3.20%,

11/18/2029

3.40%,

02/15/2052

ERP

Operating

LP

2.50%,

02/15/2030

4.65%,

09/15/2034

Essex

Portfolio

LP

1.70%,

03/01/2028

3.00%,

01/15/2030

4.00%,

03/01/2029

5.50%,

04/01/2034

Extra

Space

Storage

LP

2.20%,

10/15/2030

2.40%,

10/15/2031

4.95%,

01/15/2033

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Extra

Space

Storage

LP

(continued)

5.40%,

02/01/2034

$

$

5.40%,

06/15/2035

5.50%,

07/01/2030

Federal

Realty

OP

LP

4.50%,

12/01/2044

GLP

Capital

LP

/

GLP

Financing

II

Inc

4.00%,

01/15/2030

5.25%,

02/15/2033

Healthcare

Realty

Holdings

LP

2.00%,

03/15/2031

Healthpeak

OP

LLC

2.13%,

12/01/2028

3.00%,

01/15/2030

5.25%,

12/15/2032

6.75%,

02/01/2041

Kilroy

Realty

LP

2.50%,

11/15/2032

Kimco

Realty

OP

LLC

2.25%,

12/01/2031

2.70%,

10/01/2030

3.70%,

10/01/2049

4.60%,

02/01/2033

5.30%,

02/01/2036

6.40%,

03/01/2034

Mid-America

Apartments

LP

1.70%,

02/15/2031

5.30%,

02/15/2032

NNN

REIT

Inc

4.60%,

02/15/2031

4.80%,

10/15/2048

Prologis

LP

1.75%,

07/01/2030

2.13%,

04/15/2027

2.88%,

11/15/2029

3.00%,

04/15/2050

4.00%,

09/15/2028

4.88%,

06/15/2028

5.25%,

05/15/2035

5.25%,

03/15/2054

Public

Storage

Operating

Co

1.85%,

05/01/2028

5.00%,

07/01/2035

5.10%,

08/01/2033

5.13%,

01/15/2029

Realty

Income

Corp

2.10%,

03/15/2028

2.20%,

06/15/2028

3.10%,

12/15/2029

(a) 195

3.25%,

01/15/2031

4.50%,

02/01/2033

(g) 100

4.75%,

02/15/2029

4.85%,

03/15/2030

4.90%,

07/15/2033

(a) 150

5.38%,

09/01/2054

Simon

Property

Group

LP

1.75%,

02/01/2028

2.45%,

09/13/2029

2.65%,

02/01/2032

3.25%,

11/30/2026

3.25%,

09/13/2049

4.25%,

11/30/2046

4.38%,

10/01/2030

4.75%,

09/26/2034

6.75%,

02/01/2040

UDR

Inc

2.10%,

08/01/2032

3.20%,

01/15/2030

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Ventas

Realty

LP

3.00%,

01/15/2030

$

$

5.10%,

07/15/2032

5.63%,

07/01/2034

VICI

Properties

LP

4.75%,

04/01/2028

5.13%,

11/15/2031

Welltower

OP

LLC

2.75%,

01/15/2032

4.13%,

03/15/2029

4.50%,

07/01/2030

5.13%,

07/01/2035

Weyerhaeuser

Co

7.38%,

03/15/2032

WP

Carey

Inc

4.65%,

07/15/2030

$

16,558

Retail

-

.62

%

AutoZone

Inc

1.65%,

01/15/2031

3.75%,

06/01/2027

5.10%,

07/15/2029

Costco

Wholesale

Corp

1.38%,

06/20/2027

Dollar

Tree

Inc

4.20%,

05/15/2028

Home

Depot

Inc/The

1.88%,

09/15/2031

2.38%,

03/15/2051

2.75%,

09/15/2051

2.88%,

04/15/2027

2.95%,

06/15/2029

3.50%,

09/15/2056

3.90%,

06/15/2047

3.95%,

09/15/2030

4.20%,

04/01/2043

4.25%,

04/01/2046

4.40%,

03/15/2045

4.85%,

06/25/2031

4.88%,

06/25/2027

4.95%,

06/25/2034

4.95%,

09/15/2052

5.30%,

06/25/2054

Lowe's

Cos

Inc

1.30%,

04/15/2028

1.70%,

10/15/2030

3.00%,

10/15/2050

3.10%,

05/03/2027

3.65%,

04/05/2029

3.70%,

04/15/2046

3.75%,

04/01/2032

4.00%,

10/15/2028

4.05%,

05/03/2047

4.25%,

04/01/2052

4.38%,

09/15/2045

4.85%,

10/15/2035

5.00%,

04/15/2033

5.00%,

04/15/2040

5.63%,

04/15/2053

5.75%,

07/01/2053

McDonald's

Corp

2.13%,

03/01/2030

2.63%,

09/01/2029

3.50%,

07/01/2027

3.63%,

09/01/2049

3.70%,

02/15/2042

4.60%,

05/15/2030

4.70%,

12/09/2035

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

McDonald's

Corp

(continued)

4.88%,

07/15/2040

$

$

4.88%,

12/09/2045

4.95%,

08/14/2033

5.00%,

02/13/2036

5.15%,

09/09/2052

6.30%,

10/15/2037

O'Reilly

Automotive

Inc

1.75%,

03/15/2031

4.35%,

06/01/2028

Starbucks

Corp

2.00%,

03/12/2027

3.00%,

02/14/2032

(a) 135

4.45%,

08/15/2049

4.80%,

05/15/2030

4.80%,

02/15/2033

Target

Corp

1.95%,

01/15/2027

2.35%,

02/15/2030

2.95%,

01/15/2052

4.50%,

09/15/2032

(a) 120

4.50%,

09/15/2034

4.80%,

01/15/2053

Walmart

Inc

1.50%,

09/22/2028

2.50%,

09/22/2041

2.95%,

09/24/2049

3.90%,

04/15/2028

3.95%,

06/28/2038

4.10%,

04/28/2027

4.10%,

04/15/2033

4.50%,

09/09/2052

4.90%,

04/28/2035

$

11,561

Semiconductors

-

.74

%

Analog

Devices

Inc

2.10%,

10/01/2031

2.80%,

10/01/2041

4.25%,

06/15/2028

4.50%,

06/15/2030

5.30%,

04/01/2054

Applied

Materials

Inc

1.75%,

06/01/2030

3.30%,

04/01/2027

4.35%,

04/01/2047

4.60%,

01/15/2036

4.80%,

06/15/2029

5.10%,

10/01/2035

(a) 250

Broadcom

Corp

/

Broadcom

Cayman

Finance

Ltd

3.88%,

01/15/2027

Broadcom

Inc

1.95%,

02/15/2028

(i) 150

2.60%,

02/15/2033

(i) 200

3.14%,

11/15/2035

(i) 640

554

3.19%,

11/15/2036

(i) 14

3.42%,

04/15/2033

(i) 460

3.47%,

04/15/2034

(i) 350

3.50%,

02/15/2041

(i) 200

3.75%,

02/15/2051

(i) 50

4.15%,

02/15/2028

4.15%,

11/15/2030

4.20%,

10/15/2030

4.30%,

11/15/2032

4.35%,

02/15/2030

4.55%,

02/15/2032

4.60%,

07/15/2030

4.75%,

04/15/2029

4.80%,

02/15/2036

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Semiconductors

(continued)

Broadcom

Inc

(continued)

5.15%,

11/15/2031

$

$

5.20%,

04/15/2032

5.20%,

07/15/2035

Intel

Corp

2.00%,

08/12/2031

2.45%,

11/15/2029

3.05%,

08/12/2051

3.15%,

05/11/2027

3.20%,

08/12/2061

3.25%,

11/15/2049

3.73%,

12/08/2047

3.75%,

03/25/2027

3.75%,

08/05/2027

4.00%,

08/05/2029

4.00%,

12/15/2032

4.15%,

08/05/2032

4.25%,

12/15/2042

4.60%,

03/25/2040

4.80%,

10/01/2041

5.20%,

02/10/2033

(a) 130

5.60%,

02/21/2054

5.63%,

02/10/2043

5.70%,

02/10/2053

KLA

Corp

4.70%,

02/01/2034

4.95%,

07/15/2052

Lam

Research

Corp

1.90%,

06/15/2030

2.88%,

06/15/2050

Marvell

Technology

Inc

2.45%,

04/15/2028

4.75%,

07/15/2030

4.88%,

06/22/2028

5.45%,

07/15/2035

Micron

Technology

Inc

2.70%,

04/15/2032

4.66%,

02/15/2030

5.30%,

01/15/2031

5.80%,

01/15/2035

6.05%,

11/01/2035

NVIDIA

Corp

1.55%,

06/15/2028

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.50%,

05/11/2031

3.13%,

02/15/2042

3.15%,

05/01/2027

3.25%,

05/11/2041

4.30%,

08/19/2028

4.40%,

06/01/2027

QUALCOMM

Inc

1.30%,

05/20/2028

(a) 101

1.65%,

05/20/2032

3.25%,

05/20/2027

4.50%,

05/20/2030

4.65%,

05/20/2035

4.80%,

05/20/2045

6.00%,

05/20/2053

Texas

Instruments

Inc

1.75%,

05/04/2030

(a) 125

4.15%,

05/15/2048

4.50%,

05/23/2030

4.60%,

02/15/2028

4.90%,

03/14/2033

5.00%,

03/14/2053

5.15%,

02/08/2054

$

14,000

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

-

.60

%

Fidelity

National

Information

Services

Inc

1.65%,

03/01/2028

(a) $

$

3.10%,

03/01/2041

5.10%,

07/15/2032

Fiserv

Inc

3.50%,

07/01/2029

4.75%,

03/15/2030

5.15%,

08/12/2034

5.25%,

08/11/2035

5.35%,

03/15/2031

5.45%,

03/02/2028

5.63%,

08/21/2033

Intuit

Inc

5.13%,

09/15/2028

5.50%,

09/15/2053

Microsoft

Corp

2.53%,

06/01/2050

2.68%,

06/01/2060

3.30%,

02/06/2027

3.45%,

08/08/2036

Oracle

Corp

2.30%,

03/25/2028

2.80%,

04/01/2027

2.88%,

03/25/2031

2.95%,

04/01/2030

3.60%,

04/01/2040

3.60%,

04/01/2050

3.65%,

03/25/2041

3.80%,

11/15/2037

3.90%,

05/15/2035

600

547

3.95%,

03/25/2051

4.00%,

07/15/2046

4.10%,

03/25/2061

4.20%,

09/27/2029

4.30%,

07/08/2034

4.38%,

05/15/2055

4.45%,

09/26/2030

4.50%,

05/06/2028

4.65%,

05/06/2030

4.70%,

09/27/2034

4.80%,

09/26/2032

5.20%,

09/26/2035

5.25%,

02/03/2032

5.38%,

09/27/2054

5.50%,

09/27/2064

5.55%,

02/06/2053

5.88%,

09/26/2045

5.95%,

09/26/2055

6.00%,

08/03/2055

6.13%,

08/03/2065

6.15%,

11/09/2029

6.25%,

11/09/2032

6.90%,

11/09/2052

Roper

Technologies

Inc

1.40%,

09/15/2027

2.95%,

09/15/2029

4.25%,

09/15/2028

4.75%,

02/15/2032

4.90%,

10/15/2034

5.10%,

09/15/2035

Salesforce

Inc

2.70%,

07/15/2041

2.90%,

07/15/2051

Synopsys

Inc

4.65%,

04/01/2028

4.85%,

04/01/2030

5.15%,

04/01/2035

5.70%,

04/01/2055

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

$

$

VMware

LLC

1.80%,

08/15/2028

2.20%,

08/15/2031

$

11,199

Sovereign

-

.33

%

Canada

Government

International

Bond

3.75%,

04/26/2028

4.00%,

03/18/2030

4.63%,

04/30/2029

Chile

Government

International

Bond

2.45%,

01/31/2031

2.55%,

01/27/2032

2.75%,

01/31/2027

3.10%,

05/07/2041

3.24%,

02/06/2028

3.86%,

06/21/2047

4.00%,

01/31/2052

4.95%,

01/05/2036

Export

Development

Canada

3.75%,

09/07/2027

3.88%,

02/14/2028

4.00%,

06/20/2030

4.13%,

02/13/2029

4.75%,

06/05/2034

Export-Import

Bank

of

Korea

1.38%,

02/09/2031

3.75%,

09/22/2030

4.00%,

09/11/2029

4.25%,

09/15/2027

4.50%,

09/15/2032

5.13%,

09/18/2028

Indonesia

Government

International

Bond

2.15%,

07/28/2031

2.85%,

02/14/2030

3.05%,

03/12/2051

3.50%,

01/11/2028

4.15%,

09/20/2027

4.20%,

10/15/2050

4.55%,

01/11/2028

4.75%,

02/11/2029

4.75%,

09/10/2034

5.10%,

02/10/2054

(a) 200

5.15%,

09/10/2054

(a) 200

Israel

Government

AID

Bond

5.50%,

09/18/2033

Israel

Government

International

Bond

3.88%,

07/03/2050

4.50%,

01/30/2043

5.38%,

02/19/2030

5.50%,

03/12/2034

5.75%,

03/12/2054

Japan

Bank

for

International

Cooperation

1.25%,

01/21/2031

1.88%,

04/15/2031

2.13%,

02/16/2029

2.25%,

11/04/2026

4.63%,

07/22/2027

4.63%,

07/19/2028

4.88%,

10/18/2028

Japan

International

Cooperation

Agency

4.75%,

05/21/2029

Korea

International

Bond

1.00%,

09/16/2030

3.88%,

09/20/2048

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Mexico

Government

International

Bond

2.66%,

05/24/2031

$

$

3.25%,

04/16/2030

3.50%,

02/12/2034

3.75%,

01/11/2028

3.75%,

04/19/2071

3.77%,

05/24/2061

4.50%,

04/22/2029

4.50%,

01/31/2050

4.60%,

02/10/2048

4.75%,

03/08/2044

5.38%,

03/22/2033

5.55%,

01/21/2045

5.63%,

09/22/2035

5.85%,

07/02/2032

6.00%,

05/07/2036

6.05%,

01/11/2040

6.34%,

05/04/2053

6.35%,

02/09/2035

6.40%,

05/07/2054

6.88%,

05/13/2037

7.38%,

05/13/2055

Panama

Government

International

Bond

2.25%,

09/29/2032

3.30%,

01/19/2033

3.87%,

07/23/2060

4.30%,

04/29/2053

4.50%,

05/15/2047

4.50%,

04/16/2050

6.70%,

01/26/2036

6.85%,

03/28/2054

Peruvian

Government

International

Bond

1.86%,

12/01/2032

2.78%,

01/23/2031

2.78%,

12/01/2060

3.30%,

03/11/2041

3.55%,

03/10/2051

5.50%,

03/30/2036

5.63%,

11/18/2050

5.88%,

08/08/2054

6.55%,

03/14/2037

8.75%,

11/21/2033

Philippine

Government

International

Bond

2.46%,

05/05/2030

500

2.65%,

12/10/2045

3.70%,

02/02/2042

4.75%,

03/05/2035

5.00%,

07/17/2033

5.50%,

02/04/2035

5.50%,

01/17/2048

5.60%,

05/14/2049

9.50%,

02/02/2030

Republic

of

Italy

Government

International

Bond

2.88%,

10/17/2029

3.88%,

05/06/2051

5.38%,

06/15/2033

Republic

of

Poland

Government

International

Bond

4.88%,

02/12/2030

4.88%,

10/04/2033

5.13%,

09/18/2034

5.50%,

03/18/2054

State

of

Israel

2.50%,

01/15/2030

3.38%,

01/15/2050

Svensk

Exportkredit

AB

3.75%,

09/13/2027

3.75%,

07/29/2030

4.13%,

06/14/2028

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Tennessee

Valley

Authority

3.50%,

12/15/2042

$

$

3.88%,

03/15/2028

4.25%,

09/15/2065

4.63%,

09/15/2060

4.88%,

05/15/2035

5.25%,

09/15/2039

5.38%,

04/01/2056

5.88%,

04/01/2036

Uruguay

Government

International

Bond

4.13%,

11/20/2045

4.38%,

10/27/2027

4.98%,

04/20/2055

5.10%,

06/18/2050

5.44%,

02/14/2037

5.75%,

10/28/2034

$

24,991

Supranational

Bank

-

.32

%

African

Development

Bank

3.50%,

09/18/2029

3.88%,

06/12/2028

4.00%,

03/18/2030

4.13%,

02/25/2027

4.38%,

03/14/2028

4.63%,

01/04/2027

Asian

Development

Bank

1.25%,

06/09/2028

1.50%,

01/20/2027

1.50%,

03/04/2031

1.75%,

09/19/2029

1.88%,

03/15/2029

2.75%,

01/19/2028

3.13%,

08/20/2027

3.13%,

04/27/2032

3.63%,

08/28/2029

3.75%,

04/25/2028

3.75%,

08/28/2030

3.88%,

09/28/2032

3.88%,

06/14/2033

4.00%,

01/12/2033

4.13%,

01/12/2027

4.13%,

05/30/2030

4.38%,

01/14/2028

4.38%,

03/06/2029

4.38%,

03/22/2035

4.50%,

08/25/2028

5.82%,

06/16/2028

6.38%,

10/01/2028

Asian

Infrastructure

Investment

Bank/The

3.63%,

09/15/2028

3.75%,

09/14/2027

4.13%,

01/18/2029

4.50%,

01/16/2030

4.50%,

05/21/2035

Council

Of

Europe

Development

Bank

3.63%,

01/26/2028

4.50%,

01/15/2030

4.63%,

06/11/2027

European

Bank

for

Reconstruction

&

Development

4.13%,

01/25/2029

4.38%,

03/09/2028

European

Investment

Bank

0.63%,

10/21/2027

0.75%,

10/26/2026

1.25%,

02/14/2031

1.38%,

03/15/2027

1.63%,

05/13/2031

1.75%,

03/15/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Supranational

Bank

(continued)

European

Investment

Bank

(continued)

2.38%,

05/24/2027

$

$

3.25%,

11/15/2027

3.63%,

07/15/2030

3.75%,

11/15/2029

3.75%,

02/14/2033

3.88%,

03/15/2028

3.88%,

06/15/2028

3.88%,

10/15/2030

4.00%,

02/15/2029

4.13%,

02/13/2034

4.25%,

08/16/2032

4.38%,

03/19/2027

4.38%,

10/10/2031

4.50%,

10/16/2028

4.50%,

03/14/2030

4.63%,

02/12/2035

4.75%,

06/15/2029

Inter-American

Development

Bank

0.63%,

09/16/2027

1.13%,

07/20/2028

1.13%,

01/13/2031

1.50%,

01/13/2027

2.38%,

07/07/2027

3.13%,

09/18/2028

3.50%,

09/14/2029

3.50%,

04/12/2033

3.75%,

06/14/2030

4.00%,

01/12/2028

4.13%,

02/15/2029

4.38%,

02/01/2027

4.38%,

07/17/2034

4.38%,

07/16/2035

4.38%,

01/24/2044

4.50%,

02/15/2030

4.50%,

09/13/2033

International

Bank

for

Reconstruction

&

Development

0.75%,

11/24/2027

0.75%,

08/26/2030

1.25%,

02/10/2031

1.38%,

04/20/2028

1.63%,

11/03/2031

1.75%,

10/23/2029

550

509

2.50%,

03/29/2032

3.13%,

06/15/2027

3.50%,

07/12/2028

3.63%,

05/05/2028

3.63%,

09/21/2029

3.88%,

10/16/2029

3.88%,

02/14/2030

3.88%,

08/28/2034

4.00%,

07/25/2030

4.00%,

01/10/2031

4.00%,

05/06/2032

4.13%,

03/20/2030

4.38%,

08/27/2035

4.50%,

04/10/2031

4.63%,

08/01/2028

4.63%,

01/15/2032

4.75%,

11/14/2033

International

Finance

Corp

3.88%,

07/02/2030

4.25%,

07/02/2029

4.38%,

01/15/2027

4.50%,

01/21/2028

4.50%,

07/13/2028

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Supranational

Bank

(continued)

Nordic

Investment

Bank

3.38%,

09/08/2027

$

$

4.25%,

02/28/2029

$

24,816

Telecommunications

-

.07

%

America

Movil

SAB

de

CV

4.38%,

04/22/2049

5.00%,

01/20/2033

6.13%,

03/30/2040

6.38%,

03/01/2035

AT&T

Inc

1.65%,

02/01/2028

2.25%,

02/01/2032

2.30%,

06/01/2027

2.75%,

06/01/2031

3.10%,

02/01/2043

3.50%,

06/01/2041

3.50%,

09/15/2053

629

3.55%,

09/15/2055

533

3.65%,

06/01/2051

3.65%,

09/15/2059

757

518

3.80%,

02/15/2027

4.10%,

02/15/2028

4.25%,

03/01/2027

4.30%,

12/15/2042

4.35%,

03/01/2029

500

502

4.35%,

06/15/2045

4.50%,

03/09/2048

4.90%,

11/01/2035

5.38%,

08/15/2035

5.40%,

02/15/2034

5.55%,

11/01/2045

6.05%,

08/15/2056

Bell

Telephone

Co

of

Canada

or

Bell

Canada

5.20%,

02/15/2034

British

Telecommunications

PLC

9.62%,

12/15/2030

Cisco

Systems

Inc

4.80%,

02/26/2027

4.95%,

02/24/2032

5.05%,

02/26/2034

5.30%,

02/26/2054

5.50%,

01/15/2040

Corning

Inc

4.38%,

11/15/2057

4.75%,

03/15/2042

Deutsche

Telekom

International

Finance

BV

8.75%,

06/15/2030

Juniper

Networks

Inc

2.00%,

12/10/2030

Motorola

Solutions

Inc

4.85%,

08/15/2030

5.20%,

08/15/2032

Orange

SA

5.38%,

01/13/2042

Rogers

Communications

Inc

3.20%,

03/15/2027

3.80%,

03/15/2032

5.00%,

02/15/2029

Sprint

Capital

Corp

6.88%,

11/15/2028

Telefonica

Emisiones

SA

5.21%,

03/08/2047

7.05%,

06/20/2036

545

615

T-Mobile

USA

Inc

2.05%,

02/15/2028

2.25%,

11/15/2031

2.40%,

03/15/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

T-Mobile

USA

Inc

(continued)

2.55%,

02/15/2031

$

$

3.00%,

02/15/2041

3.30%,

02/15/2051

3.40%,

10/15/2052

3.75%,

04/15/2027

3.88%,

04/15/2030

4.20%,

10/01/2029

4.38%,

04/15/2040

4.50%,

04/15/2050

4.80%,

07/15/2028

4.95%,

03/15/2028

5.05%,

07/15/2033

5.13%,

05/15/2032

5.15%,

04/15/2034

5.20%,

01/15/2033

5.25%,

06/15/2055

5.50%,

01/15/2055

5.65%,

01/15/2053

5.75%,

01/15/2034

5.75%,

01/15/2054

6.00%,

06/15/2054

Verizon

Communications

Inc

1.50%,

09/18/2030

1.68%,

10/30/2030

1.75%,

01/20/2031

2.10%,

03/22/2028

2.36%,

03/15/2032

2.55%,

03/21/2031

2.65%,

11/20/2040

2.88%,

11/20/2050

2.99%,

10/30/2056

3.00%,

11/20/2060

3.40%,

03/22/2041

3.55%,

03/22/2051

3.70%,

03/22/2061

3.85%,

11/01/2042

4.13%,

03/16/2027

4.33%,

09/21/2028

500

504

4.40%,

11/01/2034

4.50%,

08/10/2033

4.81%,

03/15/2039

5.25%,

04/02/2035

Vodafone

Group

PLC

5.63%,

02/10/2053

5.75%,

06/28/2054

5.88%,

06/28/2064

6.15%,

02/27/2037

$

20,175

Transportation

-

.48

%

Burlington

Northern

Santa

Fe

LLC

3.05%,

02/15/2051

3.30%,

09/15/2051

3.55%,

02/15/2050

4.45%,

03/15/2043

4.45%,

01/15/2053

4.55%,

09/01/2044

5.15%,

09/01/2043

5.20%,

04/15/2054

5.50%,

03/15/2055

5.80%,

03/15/2056

Canadian

National

Railway

Co

2.45%,

05/01/2050

3.65%,

02/03/2048

3.85%,

08/05/2032

4.38%,

09/18/2034

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Transportation

(continued)

Canadian

Pacific

Railway

Co

1.75%,

12/02/2026

$

$

3.00%,

12/02/2041

3.10%,

12/02/2051

4.80%,

03/30/2030

4.80%,

09/15/2035

CSX

Corp

2.40%,

02/15/2030

3.25%,

06/01/2027

3.35%,

09/15/2049

3.80%,

03/01/2028

3.80%,

11/01/2046

4.25%,

11/01/2066

4.30%,

03/01/2048

4.50%,

11/15/2052

4.75%,

05/30/2042

4.90%,

03/15/2055

(a) 135

5.20%,

11/15/2033

FedEx

Corp

3.10%,

08/05/2029

(i) 315

3.88%,

08/01/2042

(h),(i)

4.40%,

01/15/2047

(i) 205

4.55%,

04/01/2046

(i) 400

4.75%,

11/15/2045

(i) 130

Norfolk

Southern

Corp

2.30%,

05/15/2031

2.55%,

11/01/2029

2.90%,

08/25/2051

3.94%,

11/01/2047

4.15%,

02/28/2048

4.45%,

03/01/2033

4.55%,

06/01/2053

4.84%,

10/01/2041

5.35%,

08/01/2054

(a) 120

Ryder

System

Inc

2.90%,

12/01/2026

4.30%,

06/15/2027

4.95%,

09/01/2029

Union

Pacific

Corp

2.15%,

02/05/2027

2.38%,

05/20/2031

2.80%,

02/14/2032

2.89%,

04/06/2036

3.20%,

05/20/2041

3.38%,

02/14/2042

3.80%,

10/01/2051

3.80%,

04/06/2071

3.84%,

03/20/2060

4.50%,

01/20/2033

4.95%,

09/09/2052

5.60%,

12/01/2054

United

Parcel

Service

Inc

2.50%,

09/01/2029

3.40%,

09/01/2049

4.65%,

10/15/2030

4.88%,

03/03/2033

4.88%,

11/15/2040

5.05%,

03/03/2053

5.15%,

05/22/2034

5.20%,

04/01/2040

5.50%,

05/22/2054

5.95%,

05/14/2055

6.20%,

01/15/2038

$

9,068

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Trucking

&

Leasing

-

.02

%

GATX

Corp

1.90%,

06/01/2031

$

$

5.50%,

06/15/2035

$

Water

-

.06

%

American

Water

Capital

Corp

2.30%,

06/01/2031

3.25%,

06/01/2051

3.75%,

09/01/2047

4.45%,

06/01/2032

5.70%,

09/01/2055

6.59%,

10/15/2037

Essential

Utilities

Inc

2.40%,

05/01/2031

5.25%,

08/15/2035

5.30%,

05/01/2052

5.38%,

01/15/2034

$

1,217

TOTAL

BONDS

$

534,071

MUNICIPAL

BONDS

-

.57

%

Principal

Amount

(000's)

Value

(000's)

California

-

.16

%

Bay

Area

Toll

Authority

6.26%,

04/01/2049

$

$

6.92%,

04/01/2040

California

State

University

2.98%,

11/01/2051

East

Bay

Municipal

Utility

District

Water

System

Revenue

5.87%,

06/01/2040

Los

Angeles

Department

of

Water

&

Power

6.57%,

07/01/2045

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

6.55%,

05/15/2048

San

Diego

County

Water

Authority

6.14%,

05/01/2049

State

of

California

3.50%,

04/01/2028

7.30%,

10/01/2039

7.35%,

11/01/2039

500

588

7.60%,

11/01/2040

7.63%,

03/01/2040

$

3,013

District

of

Columbia

-

.02

%

District

of

Columbia

Water

&

Sewer

Authority

4.81%,

10/01/2114

Georgia

-

.02

%

Municipal

Electric

Authority

of

Georgia

6.64%,

04/01/2057

7.06%,

04/01/2057

$

Illinois

-

.07

%

Chicago

Transit

Authority

Sales

&

Transfer

Tax

Receipts

Revenue

6.90%,

12/01/2040

Chicago

Transit

Authority

Sales

Tax

Receipts

Fund

6.20%,

12/01/2040

County

of

Cook

IL

6.23%,

11/15/2034

State

of

Illinois

5.10%,

06/01/2033

873

888

7.35%,

07/01/2035

$

1,329

Nevada

-

.00

%

County

of

Clark

Department

of

Aviation

6.82%,

07/01/2045

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

New

Jersey

-

.07

%

New

Jersey

Economic

Development

Authority

(credit

support

from

National

Public

Finance

Guarantee

Corp)

7.43%,

02/15/2029

(j) $

700

$

736

New

Jersey

Transportation

Trust

Fund

Authority

6.56%,

12/15/2040

New

Jersey

Turnpike

Authority

7.10%,

01/01/2041

Rutgers

The

State

University

of

New

Jersey

5.67%,

05/01/2040

$

1,275

New

York

-

.09

%

City

of

New

York

NY

5.52%,

10/01/2037

Metropolitan

Transportation

Authority

6.81%,

11/15/2040

New

York

City

Municipal

Water

Finance

Authority

5.72%,

06/15/2042

5.95%,

06/15/2042

New

York

State

Dormitory

Authority

5.60%,

03/15/2040

Port

Authority

of

New

York

&

New

Jersey

4.46%,

10/01/2062

4.96%,

08/01/2046

6.04%,

12/01/2029

$

1,657

Ohio

-

.01

%

American

Municipal

Power

Inc

6.27%,

02/15/2050

Ohio

State

University/The

4.91%,

06/01/2040

$

Pennsylvania

-

.03

%

State

Public

School

Building

Authority

5.00%,

09/15/2027

Texas

-

.10

%

City

of

San

Antonio

TX

Electric

&

Gas

Systems

Revenue

5.81%,

02/01/2041

Dallas

Area

Rapid

Transit

5.02%,

12/01/2048

Dallas

Convention

Center

Hotel

Development

Corp

7.09%,

01/01/2042

Dallas

County

Hospital

District

5.62%,

08/15/2044

Dallas

Independent

School

District

(credit

support

from

Permanent

School

Fund

Guarantee

Program)

6.45%,

02/15/2035

(j) 50

Grand

Parkway

Transportation

Corp

5.18%,

10/01/2042

State

of

Texas

4.68%,

04/01/2040

5.52%,

04/01/2039

Texas

Department

of

Transportation

State

Highway

Fund

5.18%,

04/01/2030

625

638

$

1,858

Wisconsin

-

.00

%

State

of

Wisconsin

(credit

support

from

Assured

Guaranty)

5.70%,

05/01/2026

(j) 90

TOTAL

MUNICIPAL

BONDS

$

10,692

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.11

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.08

%

2.00%,

08/01/2029

$

$

2.00%,

03/01/2032

2.50%,

10/01/2027

2.50%,

03/01/2028

2.50%,

06/01/2028

2.50%,

06/01/2028

2.50%,

07/01/2028

2.50%,

10/01/2028

2.50%,

10/01/2028

2.50%,

10/01/2029

2.50%,

12/01/2029

2.50%,

09/01/2030

2.50%,

01/01/2031

2.50%,

01/01/2031

2.50%,

02/01/2031

2.50%,

03/01/2031

2.50%,

12/01/2031

2.50%,

12/01/2031

2.50%,

02/01/2032

2.50%,

03/01/2032

2.50%,

11/01/2032

2.50%,

02/01/2033

2.50%,

03/01/2033

2.50%,

03/01/2033

2.50%,

04/01/2033

2.50%,

05/01/2033

2.50%,

06/01/2033

2.50%,

11/01/2036

2.50%,

02/01/2043

2.50%,

03/01/2043

3.00%,

01/01/2027

3.00%,

03/01/2027

3.00%,

05/01/2027

3.00%,

10/01/2028

3.00%,

07/01/2029

3.00%,

08/01/2029

3.00%,

10/01/2029

3.00%,

11/01/2029

3.00%,

07/01/2030

3.00%,

09/01/2030

3.00%,

11/01/2030

3.00%,

11/01/2030

3.00%,

01/01/2031

3.00%,

04/01/2031

3.00%,

02/01/2032

3.00%,

05/01/2032

3.00%,

12/01/2032

3.00%,

12/01/2032

3.00%,

01/01/2033

3.00%,

02/01/2033

3.00%,

03/01/2033

3.00%,

04/01/2033

3.00%,

04/01/2033

3.00%,

06/01/2033

3.00%,

09/01/2033

3.00%,

09/01/2033

3.00%,

12/01/2034

3.00%,

01/01/2035

3.00%,

02/01/2035

3.00%,

05/01/2035

3.00%,

02/01/2036

3.00%,

09/01/2036

3.00%,

02/01/2037

3.00%,

05/01/2037

3.00%,

06/01/2037

3.00%,

07/01/2037

3.00%,

09/01/2037

3.00%,

01/01/2043

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.00%,

01/01/2043

$

$

3.00%,

02/01/2043

3.00%,

03/01/2043

3.00%,

05/01/2043

3.00%,

07/01/2043

3.00%,

07/01/2043

3.00%,

08/01/2043

3.00%,

08/01/2043

3.00%,

09/01/2043

3.00%,

10/01/2043

3.00%,

03/01/2045

3.00%,

04/01/2045

3.00%,

06/01/2045

3.00%,

07/01/2045

3.00%,

08/01/2045

3.00%,

12/01/2045

3.00%,

03/01/2046

3.00%,

03/01/2046

3.00%,

04/01/2046

3.00%,

05/01/2046

3.00%,

09/01/2046

3.00%,

10/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

3.00%,

12/01/2046

3.00%,

12/01/2046

3.00%,

01/01/2047

3.00%,

03/01/2047

3.00%,

03/01/2048

3.50%,

12/01/2026

3.50%,

01/01/2029

3.50%,

01/01/2032

3.50%,

03/01/2032

3.50%,

04/01/2032

3.50%,

08/01/2032

3.50%,

09/01/2033

3.50%,

01/01/2034

3.50%,

01/01/2035

3.50%,

02/01/2035

3.50%,

07/01/2035

3.50%,

09/01/2035

3.50%,

04/01/2037

3.50%,

06/01/2037

3.50%,

05/01/2041

3.50%,

02/01/2042

3.50%,

04/01/2042

3.50%,

06/01/2042

3.50%,

07/01/2042

3.50%,

07/01/2042

3.50%,

08/01/2042

3.50%,

08/01/2042

3.50%,

06/01/2044

3.50%,

09/01/2044

3.50%,

03/01/2045

3.50%,

06/01/2045

3.50%,

07/01/2045

3.50%,

09/01/2045

3.50%,

10/01/2045

3.50%,

12/01/2045

3.50%,

01/01/2046

3.50%,

03/01/2046

3.50%,

03/01/2046

621

583

3.50%,

04/01/2046

3.50%,

05/01/2046

3.50%,

06/01/2046

3.50%,

08/01/2046

3.50%,

04/01/2047

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.50%,

11/01/2047

$

$

3.50%,

11/01/2047

3.50%,

05/01/2048

4.00%,

12/01/2030

4.00%,

08/01/2031

4.00%,

10/01/2031

4.00%,

11/01/2031

4.00%,

12/01/2031

4.00%,

11/01/2033

4.00%,

01/01/2034

4.00%,

07/01/2035

4.00%,

03/01/2037

4.00%,

05/01/2038

4.00%,

02/01/2041

4.00%,

06/01/2042

4.00%,

06/01/2042

4.00%,

08/01/2043

4.00%,

01/01/2044

4.00%,

02/01/2044

4.00%,

03/01/2044

4.00%,

04/01/2044

4.00%,

05/01/2044

4.00%,

07/01/2044

4.00%,

10/01/2044

4.00%,

11/01/2044

4.00%,

12/01/2044

4.00%,

01/01/2045

4.00%,

02/01/2045

4.00%,

04/01/2045

4.00%,

06/01/2045

4.00%,

08/01/2045

4.00%,

09/01/2045

4.00%,

10/01/2045

4.00%,

11/01/2045

4.00%,

12/01/2045

4.00%,

03/01/2047

4.00%,

08/01/2047

4.00%,

10/01/2047

4.00%,

12/01/2047

4.00%,

07/01/2048

4.00%,

08/01/2048

4.50%,

02/01/2030

4.50%,

08/01/2030

4.50%,

05/01/2031

4.50%,

06/01/2031

4.50%,

06/01/2039

4.50%,

10/01/2039

4.50%,

10/01/2040

4.50%,

03/01/2041

4.50%,

03/01/2041

4.50%,

11/01/2041

4.50%,

09/01/2043

4.50%,

11/01/2043

4.50%,

11/01/2043

4.50%,

01/01/2044

4.50%,

01/01/2044

4.50%,

05/01/2044

4.50%,

07/01/2044

4.50%,

10/01/2045

4.50%,

03/01/2047

4.50%,

04/01/2047

4.50%,

06/01/2047

4.50%,

09/01/2047

4.50%,

05/01/2048

4.50%,

07/01/2048

4.50%,

11/01/2048

4.50%,

01/01/2049

4.50%,

05/01/2049

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

5.00%,

12/01/2027

$

$

5.00%,

02/01/2030

5.00%,

03/01/2030

5.00%,

04/01/2034

5.00%,

06/01/2035

5.00%,

01/01/2038

5.00%,

11/01/2038

5.00%,

12/01/2038

5.00%,

09/01/2039

5.00%,

01/01/2040

5.00%,

05/01/2040

5.00%,

04/01/2041

5.00%,

06/01/2041

5.00%,

11/01/2041

5.00%,

11/01/2041

5.50%,

01/01/2028

5.50%,

04/01/2036

5.50%,

12/01/2036

5.50%,

12/01/2036

5.50%,

03/01/2039

5.50%,

04/01/2039

5.50%,

02/01/2040

5.50%,

06/01/2041

6.00%,

02/01/2027

$

20,273

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.75

%

1.50%,

03/01/2036

1,174

1,053

1.50%,

05/01/2036

5,314

4,768

1.50%,

11/01/2036

2,465

2,218

1.50%,

11/01/2050

1,790

1,385

1.50%,

01/01/2051

3,056

2,349

1.50%,

06/01/2051

6,330

4,881

2.00%,

09/01/2028

2.00%,

05/01/2030

2.00%,

04/01/2032

2.00%,

02/01/2036

1,411

1,300

2.00%,

02/01/2036

2,785

2,575

2.00%,

04/01/2036

3,314

3,066

2.00%,

05/01/2036

2,559

2,366

2.00%,

06/01/2036

2,411

2,222

2.00%,

11/01/2041

5,193

4,498

2.00%,

05/01/2042

1,417

1,224

2.00%,

04/01/2051

6,788

5,575

2.00%,

04/01/2051

13,492

11,057

2.00%,

04/01/2051

11,226

9,172

2.00%,

05/01/2051

8,352

6,784

2.00%,

05/01/2051

14,276

11,664

2.00%,

11/01/2051

6,041

4,947

2.00%,

12/01/2051

9,854

8,046

2.00%,

12/01/2051

7,761

6,338

2.00%,

01/01/2052

7,272

5,924

2.50%,

01/01/2028

2.50%,

07/01/2028

2.50%,

08/01/2028

2.50%,

08/01/2028

2.50%,

09/01/2028

2.50%,

07/01/2029

2.50%,

07/01/2029

2.50%,

07/01/2029

2.50%,

09/01/2029

2.50%,

12/01/2029

2.50%,

01/01/2030

2.50%,

04/01/2030

2.50%,

05/01/2030

2.50%,

06/01/2030

2.50%,

08/01/2030

2.50%,

08/01/2030

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

2.50%,

01/01/2031

$

$

2.50%,

01/01/2031

2.50%,

02/01/2031

2.50%,

02/01/2031

2.50%,

05/01/2031

2.50%,

06/01/2031

2.50%,

11/01/2031

586

565

2.50%,

12/01/2031

2.50%,

01/01/2032

2.50%,

01/01/2032

2.50%,

02/01/2032

2.50%,

03/01/2032

2.50%,

03/01/2032

2.50%,

11/01/2032

2.50%,

12/01/2032

2.50%,

01/01/2033

2.50%,

02/01/2033

2.50%,

04/01/2033

2.50%,

07/01/2033

2.50%,

10/01/2034

2.50%,

10/01/2036

2.50%,

10/01/2036

2.50%,

12/01/2036

2.50%,

07/01/2040

1,267

1,151

2.50%,

01/01/2043

2.50%,

08/01/2043

2.50%,

10/01/2043

2.50%,

12/01/2046

2.50%,

08/01/2050

1,795

1,540

2.50%,

02/01/2051

5,342

4,600

2.50%,

02/01/2051

1,616

1,383

2.50%,

07/01/2051

1,683

1,429

2.50%,

09/01/2051

7,096

6,038

2.50%,

09/01/2051

2,617

2,217

2.50%,

11/01/2051

4,902

4,219

2.50%,

11/01/2051

5,825

5,006

2.50%,

01/01/2052

3,590

3,080

2.50%,

02/01/2052

2,628

2,228

2.50%,

02/01/2052

2,815

2,380

2.50%,

02/01/2052

5,307

4,546

2.50%,

02/01/2052

4,054

3,462

2.50%,

03/01/2052

4,955

4,226

2.50%,

04/01/2052

5,486

4,695

2.50%,

04/01/2052

754

643

2.50%,

05/01/2052

2,834

2,424

3.00%,

11/01/2026

3.00%,

02/01/2027

3.00%,

04/01/2027

3.00%,

08/01/2027

3.00%,

10/01/2028

3.00%,

11/01/2028

3.00%,

02/01/2029

3.00%,

03/01/2029

3.00%,

03/01/2029

3.00%,

04/01/2029

3.00%,

05/01/2029

3.00%,

06/01/2029

3.00%,

08/01/2029

3.00%,

10/01/2029

3.00%,

10/01/2029

3.00%,

10/01/2029

3.00%,

11/01/2029

3.00%,

01/01/2030

3.00%,

01/01/2030

3.00%,

01/01/2030

3.00%,

03/01/2030

3.00%,

06/01/2030

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

06/01/2030

$

$

3.00%,

09/01/2030

3.00%,

09/01/2030

3.00%,

10/01/2030

3.00%,

02/01/2031

3.00%,

04/01/2032

3.00%,

05/01/2032

3.00%,

08/01/2032

3.00%,

01/01/2033

3.00%,

02/01/2033

3.00%,

02/01/2033

627

608

3.00%,

08/01/2033

3.00%,

05/01/2034

3.00%,

05/01/2034

3.00%,

08/01/2034

3.00%,

10/01/2034

3.00%,

11/01/2034

3.00%,

02/01/2035

3.00%,

02/01/2035

3.00%,

03/01/2035

3.00%,

04/01/2035

3.00%,

06/01/2035

3.00%,

07/01/2035

3.00%,

11/01/2035

3.00%,

07/01/2036

3.00%,

12/01/2036

3.00%,

12/01/2036

3.00%,

12/01/2036

3.00%,

02/01/2037

3.00%,

02/01/2037

3.00%,

04/01/2037

3.00%,

04/01/2037

3.00%,

07/01/2037

3.00%,

08/01/2037

3.00%,

09/01/2037

3.00%,

06/01/2040

1,004

937

3.00%,

04/01/2042

3.00%,

09/01/2042

3.00%,

02/01/2043

3.00%,

02/01/2043

3.00%,

02/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

04/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

06/01/2043

3.00%,

07/01/2043

3.00%,

07/01/2043

3.00%,

08/01/2043

3.00%,

08/01/2043

3.00%,

11/01/2043

3.00%,

01/01/2045

3.00%,

05/01/2045

3.00%,

09/01/2045

3.00%,

10/01/2045

3.00%,

11/01/2045

3.00%,

12/01/2045

3.00%,

02/01/2046

3.00%,

09/01/2046

3.00%,

10/01/2046

3.00%,

11/01/2046

3.00%,

11/01/2046

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

11/01/2046

$

$

3.00%,

11/01/2046

3.00%,

12/01/2046

3.00%,

12/01/2046

587

530

3.00%,

01/01/2047

3.00%,

02/01/2047

3.00%,

02/01/2047

3.00%,

05/01/2047

3.00%,

10/01/2048

3.00%,

10/01/2049

3,813

3,393

3.00%,

11/01/2049

901

800

3.00%,

11/01/2049

1,220

1,092

3.00%,

03/01/2050

2,810

2,497

3.00%,

03/01/2050

2,651

2,368

3.00%,

03/01/2052

2,802

2,486

3.00%,

03/01/2052

2,414

2,158

3.00%,

04/01/2052

1,633

1,462

3.00%,

05/01/2052

3,137

2,761

3.50%,

11/01/2025

3.50%,

01/01/2026

3.50%,

03/01/2026

3.50%,

12/01/2026

3.50%,

02/01/2027

3.50%,

11/01/2028

3.50%,

12/01/2028

3.50%,

03/01/2029

3.50%,

01/01/2031

3.50%,

04/01/2031

3.50%,

02/01/2032

3.50%,

04/01/2032

3.50%,

05/01/2032

3.50%,

06/01/2032

3.50%,

07/01/2032

3.50%,

09/01/2032

3.50%,

12/01/2032

726

717

3.50%,

09/01/2033

3.50%,

09/01/2033

3.50%,

10/01/2033

3.50%,

10/01/2033

3.50%,

11/01/2033

3.50%,

01/01/2034

3.50%,

06/01/2034

3.50%,

08/01/2034

3.50%,

11/01/2034

3.50%,

02/01/2035

3.50%,

12/01/2035

3.50%,

07/01/2036

3.50%,

02/01/2037

3.50%,

03/01/2037

3.50%,

05/01/2037

3.50%,

07/01/2037

3.50%,

10/01/2037

3.50%,

01/01/2038

3.50%,

01/01/2041

3.50%,

03/01/2041

3.50%,

10/01/2041

3.50%,

12/01/2041

3.50%,

12/01/2041

3.50%,

01/01/2042

3.50%,

03/01/2042

3.50%,

03/01/2042

3.50%,

03/01/2042

3.50%,

05/01/2042

3.50%,

05/01/2042

3.50%,

07/01/2042

3.50%,

07/01/2042

3.50%,

10/01/2042

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

04/01/2043

$

$

3.50%,

05/01/2043

3.50%,

05/01/2043

3.50%,

05/01/2043

3.50%,

06/01/2043

3.50%,

07/01/2043

3.50%,

07/01/2043

3.50%,

08/01/2043

3.50%,

08/01/2043

3.50%,

09/01/2043

3.50%,

12/01/2043

3.50%,

01/01/2044

615

580

3.50%,

02/01/2044

3.50%,

07/01/2044

3.50%,

10/01/2044

3.50%,

10/01/2044

3.50%,

11/01/2044

3.50%,

12/01/2044

3.50%,

12/01/2044

3.50%,

04/01/2045

3.50%,

07/01/2045

3.50%,

08/01/2045

3.50%,

09/01/2045

3.50%,

09/01/2045

3.50%,

11/01/2045

3.50%,

11/01/2045

3.50%,

12/01/2045

3.50%,

01/01/2046

3.50%,

02/01/2046

3.50%,

03/01/2046

3.50%,

09/01/2046

3.50%,

11/01/2046

3.50%,

12/01/2046

3.50%,

02/01/2047

3.50%,

09/01/2047

3.50%,

11/01/2047

3.50%,

01/01/2048

3.50%,

02/01/2048

3.50%,

03/01/2048

3.50%,

04/01/2048

3.50%,

10/01/2048

3.50%,

04/01/2049

3.50%,

06/01/2049

3.50%,

08/01/2049

3.50%,

11/01/2049

870

805

3.50%,

11/01/2049

2,754

2,570

3.50%,

12/01/2049

1,116

1,050

3.50%,

04/01/2052

2,172

2,001

3.50%,

05/01/2052

3,777

3,495

3.50%,

06/01/2052

1,555

1,433

4.00%,

04/01/2029

4.00%,

10/01/2030

4.00%,

12/01/2030

4.00%,

02/01/2031

4.00%,

03/01/2031

4.00%,

07/01/2031

4.00%,

10/01/2031

4.00%,

11/01/2031

4.00%,

12/01/2031

4.00%,

01/01/2032

4.00%,

09/01/2033

4.00%,

01/01/2036

4.00%,

02/01/2036

4.00%,

06/01/2036

4.00%,

01/01/2037

4.00%,

02/01/2037

4.00%,

07/01/2038

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.00%,

02/01/2039

$

$

4.00%,

01/01/2041

4.00%,

02/01/2041

4.00%,

02/01/2041

4.00%,

09/01/2041

4.00%,

02/01/2043

4.00%,

12/01/2043

4.00%,

01/01/2044

4.00%,

06/01/2044

4.00%,

07/01/2044

4.00%,

07/01/2044

4.00%,

09/01/2044

4.00%,

10/01/2044

4.00%,

02/01/2045

4.00%,

07/01/2045

4.00%,

10/01/2045

4.00%,

11/01/2045

4.00%,

12/01/2045

4.00%,

02/01/2046

4.00%,

03/01/2046

4.00%,

04/01/2047

4.00%,

08/01/2047

4.00%,

08/01/2047

4.00%,

08/01/2047

4.00%,

09/01/2047

4.00%,

11/01/2047

4.00%,

02/01/2048

4.00%,

03/01/2048

4.00%,

06/01/2048

4.00%,

06/01/2048

4.00%,

07/01/2048

4.00%,

08/01/2048

4.00%,

09/01/2048

4.00%,

01/01/2049

1,493

1,435

4.00%,

03/01/2049

4.00%,

04/01/2049

4.00%,

04/01/2049

4.00%,

08/01/2049

4.00%,

10/01/2049

4.00%,

11/01/2049

4.00%,

04/01/2050

1,420

1,359

4.00%,

06/01/2052

1,826

1,751

4.00%,

08/01/2052

3,212

3,043

4.00%,

09/01/2052

4,102

3,906

4.00%,

10/01/2052

876

833

4.50%,

02/01/2030

4.50%,

04/01/2030

4.50%,

08/01/2030

4.50%,

09/01/2030

4.50%,

01/01/2031

4.50%,

04/01/2031

4.50%,

05/01/2031

4.50%,

07/01/2031

4.50%,

08/01/2031

4.50%,

02/01/2035

4.50%,

08/01/2040

4.50%,

08/01/2040

4.50%,

06/01/2041

4.50%,

09/01/2041

4.50%,

09/01/2043

4.50%,

10/01/2043

4.50%,

01/01/2044

4.50%,

01/01/2044

4.50%,

02/01/2044

4.50%,

03/01/2044

4.50%,

03/01/2044

4.50%,

05/01/2044

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.50%,

05/01/2044

$

$

4.50%,

05/01/2044

4.50%,

06/01/2044

4.50%,

08/01/2044

4.50%,

12/01/2044

4.50%,

04/01/2046

4.50%,

08/01/2046

4.50%,

02/01/2047

4.50%,

02/01/2047

4.50%,

03/01/2047

4.50%,

10/01/2047

4.50%,

11/01/2047

4.50%,

02/01/2048

4.50%,

04/01/2048

4.50%,

05/01/2048

4.50%,

07/01/2048

1,381

1,359

4.50%,

08/01/2048

4.50%,

08/01/2048

4.50%,

10/01/2048

4.50%,

10/01/2048

4.50%,

12/01/2048

844

840

4.50%,

03/01/2049

1,581

1,560

4.50%,

04/01/2049

4.50%,

05/01/2049

1,024

1,008

4.50%,

07/01/2049

4.50%,

07/01/2049

4.50%,

09/01/2049

1,611

1,587

4.50%,

09/01/2049

4.50%,

06/01/2052

4.50%,

09/01/2052

1,899

1,873

4.50%,

10/01/2052

1,608

1,578

4.50%,

10/01/2052

1,940

1,902

4.50%,

05/01/2053

2,129

2,083

5.00%,

04/01/2029

5.00%,

09/01/2029

5.00%,

03/01/2030

5.00%,

08/01/2030

5.00%,

07/01/2035

5.00%,

04/01/2037

5.00%,

07/01/2039

5.00%,

07/01/2039

5.00%,

03/01/2044

5.00%,

03/01/2044

5.00%,

05/01/2044

5.00%,

11/01/2044

5.00%,

04/01/2048

5.00%,

09/01/2048

5.00%,

05/01/2049

5.00%,

06/01/2049

5.00%,

07/01/2049

5.00%,

08/01/2049

5.00%,

07/01/2052

2,729

2,738

5.00%,

08/01/2052

1,792

1,799

5.00%,

11/01/2052

3,770

3,779

5.00%,

05/01/2053

4,672

4,688

5.00%,

06/01/2053

2,472

2,478

5.00%,

10/01/2053

2,181

2,194

5.50%,

03/01/2027

5.50%,

06/01/2028

5.50%,

01/01/2029

5.50%,

12/01/2029

5.50%,

11/01/2035

5.50%,

12/01/2036

5.50%,

03/01/2037

5.50%,

08/01/2037

5.50%,

08/01/2037

5.50%,

08/01/2037

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

5.50%,

05/01/2038

$

$

5.50%,

06/01/2038

5.50%,

03/01/2053

2,869

2,928

5.50%,

07/01/2053

2,089

2,153

5.50%,

08/01/2053

5,147

5,228

5.50%,

11/01/2053

4,747

4,845

5.50%,

03/01/2054

2,518

2,553

5.50%,

04/01/2054

3,482

3,549

5.50%,

08/01/2054

2,431

2,465

5.50%,

10/01/2054

1,862

1,897

5.50%,

02/01/2055

1,450

1,474

5.50%,

04/01/2055

1,959

1,990

6.00%,

05/01/2041

6.00%,

01/01/2053

1,551

1,615

6.00%,

05/01/2053

1,194

1,234

6.00%,

11/01/2053

3,479

3,586

6.00%,

06/01/2054

2,434

2,511

6.00%,

07/01/2054

2,680

2,770

6.00%,

08/01/2054

1,879

1,944

6.00%,

09/01/2054

2,737

2,829

6.00%,

11/01/2054

2,004

2,068

6.00%,

11/01/2054

2,411

2,487

6.00%,

09/01/2055

2,338

2,411

6.50%,

01/01/2038

6.50%,

01/01/2054

2,608

2,741

6.50%,

01/01/2054

2,343

2,447

6.50%,

02/01/2054

3,015

3,158

6.50%,

05/01/2054

1,009

1,054

6.50%,

09/01/2054

1,327

1,373

6.50%,

04/01/2055

2,111

2,213

$

333,609

Government

National

Mortgage

Association

(GNMA)

-

.11

%

2.00%,

08/20/2050

3,968

3,286

2.00%,

01/20/2051

6,016

4,976

2.00%,

02/20/2051

5,511

4,563

2.00%,

05/20/2051

4,151

3,432

2.50%,

03/20/2028

2.50%,

07/20/2028

2.50%,

03/20/2031

2.50%,

05/20/2032

2.50%,

07/20/2043

2.50%,

06/20/2045

2.50%,

12/20/2046

2.50%,

01/20/2047

2.50%,

06/20/2050

6,359

5,482

2.50%,

05/20/2051

6,874

5,921

2.50%,

09/20/2051

6,973

6,006

3.00%,

07/20/2030

3.00%,

01/20/2031

3.00%,

07/20/2032

3.00%,

01/20/2033

3.00%,

10/15/2042

3.00%,

03/20/2043

3.00%,

04/20/2043

3.00%,

06/15/2043

3.00%,

07/15/2043

3.00%,

08/15/2043

3.00%,

08/15/2043

3.00%,

11/15/2044

3.00%,

02/15/2045

3.00%,

05/20/2045

3.00%,

07/15/2045

3.00%,

08/15/2045

3.00%,

08/20/2045

3.00%,

10/20/2045

3.00%,

11/20/2045

3.00%,

12/20/2045

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

3.00%,

01/20/2046

$

$

3.00%,

02/20/2046

3.00%,

03/20/2046

3.00%,

05/20/2046

3.00%,

06/20/2046

3.00%,

07/20/2046

703

637

3.00%,

08/20/2046

3.00%,

09/20/2046

3.00%,

10/20/2046

3.00%,

12/20/2046

3.00%,

01/20/2047

3.00%,

07/20/2047

3.00%,

10/20/2047

3.00%,

11/20/2047

3.00%,

12/20/2047

3.00%,

01/20/2048

3.00%,

02/20/2048

3.00%,

03/20/2048

3.00%,

11/20/2049

3,703

3,319

3.00%,

09/20/2051

4,351

3,888

3.00%,

12/20/2051

750

671

3.50%,

09/20/2028

3.50%,

01/15/2043

3.50%,

03/20/2043

3.50%,

04/15/2043

3.50%,

04/20/2043

3.50%,

08/15/2043

3.50%,

08/20/2043

3.50%,

09/20/2043

3.50%,

07/20/2044

3.50%,

08/20/2044

3.50%,

09/20/2044

3.50%,

10/20/2044

3.50%,

11/20/2044

3.50%,

12/20/2044

3.50%,

02/20/2045

3.50%,

05/20/2045

3.50%,

06/20/2045

3.50%,

07/20/2045

3.50%,

08/20/2045

3.50%,

09/20/2045

3.50%,

10/20/2045

3.50%,

11/20/2045

3.50%,

12/20/2045

3.50%,

01/20/2046

3.50%,

02/20/2046

3.50%,

03/20/2046

1,042

968

3.50%,

04/20/2046

3.50%,

05/20/2046

3.50%,

06/20/2046

994

925

3.50%,

07/15/2046

3.50%,

07/20/2046

3.50%,

08/20/2046

534

3.50%,

09/20/2046

3.50%,

10/20/2046

3.50%,

11/20/2046

3.50%,

12/20/2046

3.50%,

01/20/2047

3.50%,

02/20/2047

3.50%,

03/20/2047

3.50%,

04/20/2047

3.50%,

05/20/2047

3.50%,

06/20/2047

3.50%,

08/20/2047

554

514

3.50%,

09/20/2047

3.50%,

10/20/2047

3.50%,

11/20/2047

3.50%,

12/20/2047

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

3.50%,

01/20/2048

$

$

3.50%,

02/20/2048

3.50%,

07/20/2048

3.50%,

04/20/2052

1,643

1,507

4.00%,

08/15/2040

4.00%,

12/20/2040

4.00%,

08/15/2041

4.00%,

11/15/2041

4.00%,

03/15/2042

4.00%,

03/20/2042

4.00%,

04/20/2042

4.00%,

05/15/2042

4.00%,

10/20/2043

4.00%,

11/20/2043

4.00%,

02/20/2044

4.00%,

03/15/2044

4.00%,

05/20/2044

4.00%,

06/20/2044

4.00%,

07/20/2044

4.00%,

08/20/2044

4.00%,

09/20/2044

4.00%,

10/20/2044

4.00%,

11/20/2044

4.00%,

12/20/2044

4.00%,

01/20/2045

4.00%,

04/20/2045

4.00%,

05/15/2045

4.00%,

07/20/2045

4.00%,

08/20/2045

4.00%,

09/20/2045

4.00%,

10/20/2045

4.00%,

11/20/2045

4.00%,

12/15/2045

4.00%,

12/20/2045

4.00%,

01/20/2046

4.00%,

02/20/2046

4.00%,

04/20/2046

4.00%,

05/20/2046

4.00%,

07/20/2046

4.00%,

01/20/2047

4.00%,

02/20/2047

4.00%,

03/20/2047

4.00%,

05/20/2047

4.00%,

06/20/2047

4.00%,

07/20/2047

4.00%,

08/20/2047

4.00%,

10/20/2047

4.00%,

11/20/2047

899

861

4.00%,

04/20/2052

2,477

2,349

4.50%,

02/15/2039

4.50%,

05/15/2039

4.50%,

11/15/2039

4.50%,

04/15/2040

4.50%,

01/20/2041

4.50%,

02/20/2041

4.50%,

03/20/2041

4.50%,

07/15/2041

4.50%,

05/20/2043

4.50%,

06/20/2043

4.50%,

10/20/2043

4.50%,

11/20/2043

4.50%,

03/20/2044

4.50%,

04/20/2044

4.50%,

05/20/2044

4.50%,

07/20/2044

4.50%,

12/20/2044

4.50%,

02/20/2045

4.50%,

03/20/2045

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

4.50%,

04/20/2045

$

$

4.50%,

06/20/2046

4.50%,

12/20/2046

4.50%,

02/20/2047

4.50%,

04/20/2047

4.50%,

06/15/2047

4.50%,

08/20/2047

4.50%,

10/20/2047

4.50%,

02/20/2048

726

721

4.50%,

05/20/2048

528

522

4.50%,

08/20/2048

4.50%,

10/20/2048

4.50%,

11/20/2048

4.50%,

12/20/2048

4.50%,

02/20/2049

2,274

2,252

4.50%,

05/20/2052

1,439

1,406

4.50%,

09/20/2052

2,693

2,631

4.50%,

06/20/2053

1,168

1,137

5.00%,

08/20/2041

5.00%,

04/20/2042

5.00%,

12/20/2042

5.00%,

07/20/2043

5.00%,

02/20/2044

5.00%,

03/20/2044

5.00%,

12/20/2045

5.00%,

03/20/2048

5.00%,

06/20/2048

566

572

5.00%,

10/20/2048

5.00%,

01/20/2053

5,331

5,331

5.00%,

04/20/2053

3,442

3,439

5.00%,

09/20/2053

648

646

5.00%,

10/20/2055

(k) 2,800

2,785

5.50%,

01/15/2040

5.50%,

06/20/2040

5.50%,

01/20/2041

5.50%,

10/20/2042

5.50%,

09/20/2043

5.50%,

03/20/2053

2,609

2,643

5.50%,

08/20/2053

3,552

3,597

5.50%,

12/20/2053

2,502

2,531

5.50%,

04/20/2054

2,241

2,263

5.50%,

07/20/2054

1,865

1,881

5.50%,

10/20/2055

(k) 1,740

1,753

6.00%,

04/15/2035

6.00%,

07/20/2053

2,827

2,892

6.00%,

10/20/2053

2,311

2,363

6.00%,

03/20/2054

1,003

1,025

6.50%,

12/20/2052

3,564

3,678

$

114,922

U.S.

Treasury

-

.17

%

0.38%,

09/30/2027

4,520

4,240

0.50%,

04/30/2027

2,100

1,999

0.50%,

05/31/2027

3,290

3,124

0.50%,

06/30/2027

4,645

4,400

0.50%,

08/31/2027

5,260

4,958

0.50%,

10/31/2027

10,120

9,493

0.63%,

03/31/2027

5,975

5,713

0.63%,

11/30/2027

4,645

4,359

0.63%,

12/31/2027

8,210

7,685

0.63%,

05/15/2030

12,025

10,453

0.63%,

08/15/2030

20,910

18,028

0.75%,

01/31/2028

7,610

7,126

0.88%,

11/15/2030

15,755

13,660

1.00%,

07/31/2028

5,825

5,416

1.13%,

10/31/2026

3,635

3,536

1.13%,

02/28/2027

2,670

2,577

1.13%,

02/29/2028

5,895

5,559

1.13%,

08/31/2028

4,875

4,540

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

1.13%,

02/15/2031

$

11,515

$

10,062

1.13%,

05/15/2040

2,620

1,669

1.13%,

08/15/2040

1,655

1,044

1.25%,

11/30/2026

3,775

3,670

1.25%,

12/31/2026

3,175

3,081

1.25%,

03/31/2028

7,125

6,725

1.25%,

04/30/2028

6,000

5,652

1.25%,

05/31/2028

6,120

5,753

1.25%,

06/30/2028

4,550

4,269

1.25%,

09/30/2028

7,740

7,219

1.25%,

08/15/2031

8,315

7,191

1.25%,

05/15/2050

2,600

1,275

1.38%,

10/31/2028

5,855

5,471

1.38%,

12/31/2028

4,880

4,544

1.38%,

11/15/2031

10,870

9,408

1.38%,

11/15/2040

1,610

1,050

1.38%,

08/15/2050

4,335

2,180

1.50%,

01/31/2027

5,200

5,053

1.50%,

11/30/2028

6,695

6,269

1.50%,

02/15/2030

12,800

11,672

1.63%,

10/31/2026

2,045

2,000

1.63%,

11/30/2026

7,960

7,773

1.63%,

08/15/2029

7,300

6,773

1.63%,

05/15/2031

10,330

9,198

1.63%,

11/15/2050

2,730

1,465

1.75%,

12/31/2026

8,315

8,119

1.75%,

01/31/2029

5,065

4,765

1.75%,

11/15/2029

4,890

4,536

1.75%,

08/15/2041

4,110

2,789

1.88%,

02/28/2027

9,400

9,168

1.88%,

02/28/2029

3,895

3,674

1.88%,

02/15/2032

8,670

7,692

1.88%,

02/15/2041

1,245

875

1.88%,

02/15/2051

4,720

2,696

1.88%,

11/15/2051

4,600

2,602

2.00%,

11/15/2026

6,705

6,579

2.00%,

11/15/2041

4,010

2,816

2.00%,

02/15/2050

2,785

1,665

2.00%,

08/15/2051

5,315

3,114

2.25%,

02/15/2027

8,160

8,004

2.25%,

11/15/2027

8,485

8,249

2.25%,

05/15/2041

3,110

2,304

2.25%,

08/15/2046

3,195

2,132

2.25%,

08/15/2049

3,095

1,975

2.25%,

02/15/2052

4,015

2,490

2.38%,

05/15/2027

6,155

6,031

2.38%,

03/31/2029

3,685

3,531

2.38%,

05/15/2029

4,695

4,490

2.38%,

02/15/2042

1,865

1,382

2.38%,

11/15/2049

3,205

2,097

2.38%,

05/15/2051

4,540

2,921

2.50%,

03/31/2027

4,305

4,232

2.50%,

02/15/2045

1,550

1,110

2.50%,

02/15/2046

2,925

2,065

2.50%,

05/15/2046

2,520

1,772

2.63%,

05/31/2027

3,330

3,275

2.63%,

02/15/2029

8,305

8,036

2.63%,

07/31/2029

2,325

2,238

2.75%,

04/30/2027

3,660

3,610

2.75%,

07/31/2027

6,175

6,079

2.75%,

02/15/2028

5,775

5,661

2.75%,

05/31/2029

7,280

7,051

2.75%,

08/15/2032

10,275

9,552

2.75%,

08/15/2042

1,591

1,238

2.75%,

11/15/2042

2,165

1,677

2.75%,

08/15/2047

3,060

2,218

2.75%,

11/15/2047

2,335

1,688

2.88%,

05/15/2028

4,500

4,416

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

2.88%,

08/15/2028

$

6,030

$

5,907

2.88%,

04/30/2029

7,835

7,627

2.88%,

05/15/2032

10,930

10,276

2.88%,

05/15/2043

2,333

1,828

2.88%,

08/15/2045

2,145

1,630

2.88%,

11/15/2046

1,465

1,097

2.88%,

05/15/2049

3,415

2,491

2.88%,

05/15/2052

4,000

2,854

3.00%,

05/15/2042

1,200

974

3.00%,

11/15/2044

1,475

1,154

3.00%,

05/15/2045

1,845

1,436

3.00%,

11/15/2045

1,320

1,022

3.00%,

02/15/2047

3,115

2,379

3.00%,

05/15/2047

2,050

1,561

3.00%,

02/15/2048

2,445

1,846

3.00%,

08/15/2048

3,250

2,444

3.00%,

02/15/2049

3,200

2,396

3.00%,

08/15/2052

3,500

2,560

3.13%,

08/31/2027

6,040

5,984

3.13%,

11/15/2028

6,045

5,953

3.13%,

08/31/2029

3,885

3,805

3.13%,

11/15/2041

1,700

1,416

3.13%,

02/15/2042

805

668

3.13%,

02/15/2043

1,865

1,522

3.13%,

08/15/2044

3,045

2,438

3.13%,

05/15/2048

3.25%,

06/30/2029

2,055

2,024

3.25%,

05/15/2042

3,650

3,066

3.38%,

05/15/2033

7,870

7,560

3.38%,

08/15/2042

2,565

2,185

3.38%,

05/15/2044

2,350

1,961

3.38%,

11/15/2048

3,275

2,631

3.50%,

01/31/2028

3.50%,

04/30/2028

4,915

4,901

3.50%,

09/30/2029

9,405

9,338

3.50%,

01/31/2030

2,375

2,355

3.50%,

02/15/2033

6,095

5,917

3.50%,

02/15/2039

1,030

942

3.63%,

05/31/2028

4,475

4,476

3.63%,

03/31/2030

6,035

6,010

3.63%,

08/15/2043

1,880

1,640

3.63%,

02/15/2044

1,755

1,523

3.63%,

02/15/2053

4,170

3,448

3.63%,

05/15/2053

3,440

2,841

3.75%,

06/30/2027

7,935

7,949

3.75%,

04/15/2028

8,510

8,536

3.75%,

06/30/2030

3,040

3,041

3.75%,

12/31/2030

3,960

3,956

3.75%,

08/15/2041

940

854

3.75%,

11/15/2043

1,935

1,713

3.88%,

03/31/2027

4,285

4,298

3.88%,

09/30/2029

3.88%,

11/30/2029

4,885

4,916

3.88%,

08/15/2033

8,305

8,236

3.88%,

08/15/2034

5,660

5,573

3.88%,

08/15/2040

1,569

1,463

3.88%,

02/15/2043

3,170

2,877

3.88%,

05/15/2043

3,270

2,962

4.00%,

01/15/2027

2,715

2,725

4.00%,

06/30/2028

7,340

7,412

4.00%,

10/31/2029

7,165

7,246

4.00%,

02/28/2030

8,115

8,209

4.00%,

05/31/2030

5,365

5,428

4.00%,

06/30/2032

5,885

5,915

4.00%,

02/15/2034

8,510

8,488

4.00%,

11/15/2042

2,365

2,187

4.00%,

11/15/2052

4,585

4,058

4.13%,

01/31/2027

12,180

12,246

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

4.13%,

09/30/2027

$

$

4.13%,

10/31/2027

4,930

4,980

4.13%,

11/15/2027

4,570

4,617

4.13%,

02/29/2032

6,160

6,243

4.13%,

11/15/2032

8,220

8,316

4.13%,

08/15/2053

3,395

3,069

4.25%,

11/30/2026

2,950

2,967

4.25%,

12/31/2026

6,405

6,446

4.25%,

03/15/2027

5,405

5,449

4.25%,

06/30/2029

7,725

7,879

4.25%,

01/31/2030

5,095

5,203

4.25%,

02/28/2031

4,605

4,709

4.25%,

11/15/2034

7,140

7,221

4.25%,

05/15/2035

6,200

6,257

4.25%,

08/15/2035

2,995

3,019

4.25%,

05/15/2039

715

704

4.25%,

11/15/2040

1,245

1,210

4.25%,

02/15/2054

2,605

2,405

4.25%,

08/15/2054

3,490

3,222

4.38%,

05/15/2034

7,800

7,980

4.38%,

02/15/2038

890

898

4.38%,

11/15/2039

2,845

2,822

4.38%,

05/15/2040

1,489

1,473

4.38%,

05/15/2041

1,655

1,626

4.38%,

08/15/2043

3,250

3,137

4.50%,

04/15/2027

3,465

3,508

4.50%,

11/15/2033

8,965

9,269

4.50%,

02/15/2036

700

723

4.50%,

05/15/2038

710

725

4.50%,

08/15/2039

1,465

1,476

4.50%,

02/15/2044

1,310

1,281

4.50%,

11/15/2054

4,415

4,251

4.63%,

02/15/2035

7,505

7,799

4.63%,

02/15/2040

1,120

1,140

4.63%,

05/15/2054

9,955

9,781

4.63%,

02/15/2055

4,290

4,217

4.75%,

02/15/2037

1,635

1,717

4.75%,

02/15/2041

1,375

1,410

4.75%,

02/15/2045

1,540

1,550

4.75%,

11/15/2053

4,065

4,072

4.75%,

05/15/2055

1,845

1,851

5.00%,

05/15/2037

1,130

1,211

5.25%,

02/15/2029

3,000

3,157

5.38%,

02/15/2031

3,616

3,893

6.13%,

11/15/2027

2,225

2,338

6.13%,

08/15/2029

900

979

6.25%,

05/15/2030

1,500

1,659

6.38%,

08/15/2027

1,830

1,922

$

849,215

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

1,318,019

Total

Investments

$

1,884,895

Other

Assets

and

Liabilities

- (0.27)%

(5,061)

TOTAL

NET

ASSETS

-

100.00%

$

1,879,834

(a) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,634

or

0.25%

of

net

assets.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,812

or

0.26%

of

net

assets.

(d) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

Schedule

of

Investments

Bond

Market

Index

Account

September

30,

2025

(unaudited)

(f) Non-income

producing

security

(g) Security

purchased

on

a

when-issued

basis.

(h) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(i) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,769

or

0.20%

of

net

assets.

(j) Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(k) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

46,078

$

467,360

$

493,329

$

20,109

$

46,078

$

467,360

$

493,329

$

20,109

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

956

$

—

$

—

$

—

$

956

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

8.81%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

5.32%

iShares

Broad

USD

High

Yield

Corporate

Bond

ETF

221,000

$

8,349

Vanguard

Short-Term

Corporate

Bond

ETF

37,000

2,958

$

11,307

Money

Market

Funds

-

3.49%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

205,684

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b),(c)

7,217,156

7,217

$

7,423

TOTAL

INVESTMENT

COMPANIES

$

18,730

BONDS

-

55.41%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

0.98%

Boeing

Co/The

5.15%,

05/01/2030

$

$

5.81%,

05/01/2050

675

674

7.01%,

05/01/2064

Bombardier

Inc

7.50%,

02/01/2029

(d) 50

Northrop

Grumman

Corp

4.95%,

03/15/2053

5.25%,

07/15/2035

(e) 165

RTX

Corp

3.03%,

03/15/2052

6.10%,

03/15/2034

6.40%,

03/15/2054

TransDigm

Inc

6.38%,

03/01/2029

(d) 100

6.75%,

01/31/2034

(d) 223

$

2,092

Agriculture

-

0.91%

BAT

Capital

Corp

4.54%,

08/15/2047

4.63%,

03/22/2033

4.76%,

09/06/2049

5.35%,

08/15/2032

5.83%,

02/20/2031

7.08%,

08/02/2053

JBS

USA

LUX

Sarl

/

JBS

USA

Food

Co

/

JBS

USA

Foods

Group

5.95%,

04/20/2035

(d) 200

Philip

Morris

International

Inc

4.38%,

04/30/2030

4.63%,

11/01/2029

4.88%,

04/30/2035

(e) 225

Reynolds

American

Inc

5.70%,

08/15/2035

$

1,927

Airlines

-

1.19%

American

Airlines

Inc

8.50%,

05/15/2029

(d),(e)

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(d) 110

AS

Mileage

Plan

IP

Ltd

5.02%,

10/20/2029

(d) 445

5.31%,

10/20/2031

(d) 145

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(d) 21

4.75%,

10/20/2028

(d) 1,000

1,006

Grupo

Aeromexico

SAB

de

CV

8.63%,

11/15/2031

(d),(e)

United

Airlines

2024-1

Class

A

Pass

Through

Trust

5.88%,

08/15/2038

507

$

2,531

Apparel

-

0.07%

Gildan

Activewear

Inc

4.70%,

10/07/2030

(d),(f)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

5.31%

Ally

Auto

Receivables

Trust

2023-1

5.46%,

05/15/2028

$

$

AmeriCredit

Automobile

Receivables

Trust

2024-1

4.99%,

02/18/2028

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

5.75%,

02/18/2028

AutoNation

Finance

Trust

2025-1

5.63%,

09/10/2032

(d) 200

BMW

Vehicle

Owner

Trust

2024-A

5.42%,

02/25/2027

BofA

Auto

Trust

2025-1

4.94%,

11/22/2027

(d) 180

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.55%

Carmax

Auto

Owner

Trust

2024-3

5.21%,

09/15/2027

Chase

Auto

Owner

Trust

2024-2

5.66%,

05/26/2027

(d) 32

Chase

Auto

Owner

Trust

2024-4

5.25%,

09/27/2027

(d) 138

Chase

Auto

Owner

Trust

2024-5

4.18%,

08/27/2029

(d) 555

557

Drive

Auto

Receivables

Trust

2024-2

4.94%,

12/15/2027

Drive

Auto

Receivables

Trust

2025-2

4.29%,

10/16/2028

750

750

Ford

Credit

Floorplan

Master

Owner

Trust

A

4.30%,

09/15/2029

(d) 200

GM

Financial

Automobile

Leasing

Trust

2024-3

4.21%,

10/20/2027

4.86%,

01/20/2027

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.47%

GM

Financial

Automobile

Leasing

Trust

2025-2

4.89%,

07/20/2027

675

676

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.50%

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-3

5.45%,

06/16/2028

Mercedes-Benz

Auto

Lease

Trust

2024-A

5.44%,

02/16/2027

Mercedes-Benz

Auto

Lease

Trust

2025-A

4.61%,

04/16/2029

600

608

4.89%,

04/17/2028

575

576

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

Nissan

Auto

Receivables

2025-A

Owner

Trust

4.82%,

02/15/2028

675

676

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.45%

Porsche

Innovative

Lease

Owner

Trust

2024-1

4.84%,

01/20/2027

(d) 299

Santander

Drive

Auto

Receivables

Trust

2023-4

5.73%,

04/17/2028

Santander

Drive

Auto

Receivables

Trust

2024-1

5.25%,

04/17/2028

Santander

Drive

Auto

Receivables

Trust

2024-4

5.41%,

07/15/2027

Santander

Drive

Auto

Receivables

Trust

2025-1

4.76%,

08/16/2027

Santander

Drive

Auto

Receivables

Trust

2025-2

4.71%,

06/15/2028

Santander

Drive

Auto

Receivables

Trust

2025-3

4.63%,

10/16/2028

1,130

1,133

Tesla

Electric

Vehicle

Trust

2023-1

5.54%,

12/21/2026

(d) 49

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

(continued)

Toyota

Lease

Owner

Trust

2024-B

4.21%,

09/20/2027

(d) $

625

$

627

USB

Auto

Owner

Trust

2025-1

5.40%,

12/15/2032

(d) 200

Volkswagen

Auto

Lease

Trust

2025-B

3.97%,

04/20/2028

515

515

Wheels

Fleet

Lease

Funding

LLC

4.99%,

01/18/2040

(d) 615

617

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.67%

$

11,294

Automobile

Manufacturers

-

0.81%

Ford

Motor

Credit

Co

LLC

5.80%,

03/08/2029

875

888

6.13%,

03/08/2034

Hyundai

Capital

America

4.50%,

09/18/2030

(d) 240

5.25%,

01/08/2027

(d) 170

5.30%,

06/24/2029

(d) 125

6.50%,

01/16/2029

(d) 80

$

1,713

Automobile

Parts

&

Equipment

-

0.07%

Dana

Inc

5.38%,

11/15/2027

Phinia

Inc

6.75%,

04/15/2029

(d) 35

$

Banks

-

7.68%

AIB

Group

PLC

5.32%,

05/15/2031

(d),(g)

Secured

Overnight

Financing

Rate

+

1.65%

5.87%,

03/28/2035

(d),(g)

Secured

Overnight

Financing

Rate

+

1.91%

Bank

of

America

Corp

2.68%,

06/19/2041

(g) 680

501

Secured

Overnight

Financing

Rate

+

1.93%

2.69%,

04/22/2032

(g) 105

Secured

Overnight

Financing

Rate

+

1.32%

3.85%,

03/08/2037

(g) 50

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

Barclays

PLC

5.34%,

09/10/2035

(g) 215

Secured

Overnight

Financing

Rate

+

1.91%

CaixaBank

SA

5.58%,

07/03/2036

(d),(g)

Secured

Overnight

Financing

Rate

+

1.79%

Citigroup

Inc

3.79%,

03/17/2033

(g) 485

Secured

Overnight

Financing

Rate

+

1.94%

5.17%,

09/11/2036

(g) 120

Secured

Overnight

Financing

Rate

+

1.49%

Cooperatieve

Rabobank

UA

4.99%,

05/27/2031

(d),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.92%

Danske

Bank

A/S

4.61%,

10/02/2030

(d),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.10%

5.02%,

03/04/2031

(d),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.93%

Deutsche

Bank

AG/New

York

NY

5.71%,

02/08/2028

(g) 165

Secured

Overnight

Financing

Rate

+

1.59%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Goldman

Sachs

Group

Inc/The

5.02%,

10/23/2035

(g) $

$

Secured

Overnight

Financing

Rate

+

1.42%

5.22%,

04/23/2031

(g) 560

579

Secured

Overnight

Financing

Rate

+

1.58%

5.54%,

01/28/2036

(e),(g)

Secured

Overnight

Financing

Rate

+

1.38%

5.56%,

11/19/2045

(g) 155

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

01/28/2056

(g) 170

Secured

Overnight

Financing

Rate

+

1.70%

HSBC

Holdings

PLC

5.24%,

05/13/2031

(g) 310

Secured

Overnight

Financing

Rate

+

1.57%

5.74%,

09/10/2036

(g) 200

Secured

Overnight

Financing

Rate

+

1.96%

5.79%,

05/13/2036

(g) 400

Secured

Overnight

Financing

Rate

+

1.88%

Huntington

Bancshares

Inc/OH

5.71%,

02/02/2035

(g) 675

703

Secured

Overnight

Financing

Rate

+

1.87%

JPMorgan

Chase

&

Co

4.91%,

07/25/2033

(g) 705

719

Secured

Overnight

Financing

Rate

+

2.08%

4.95%,

10/22/2035

(g) 180

Secured

Overnight

Financing

Rate

+

1.34%

5.34%,

01/23/2035

(g) 95

Secured

Overnight

Financing

Rate

+

1.62%

5.58%,

07/23/2036

(g) 190

Secured

Overnight

Financing

Rate

+

1.64%

6.50%,

04/01/2030

(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.15%

KeyBank

NA/Cleveland

OH

5.00%,

01/26/2033

KeyCorp

5.12%,

04/04/2031

(e),(g)

Secured

Overnight

Financing

Rate

+

1.23%

Morgan

Stanley

0.99%,

12/10/2026

(g) 1,046

1,039

Secured

Overnight

Financing

Rate

+

0.72%

2.48%,

09/16/2036

(g) 225

Secured

Overnight

Financing

Rate

+

1.36%

5.19%,

04/17/2031

(g) 480

Secured

Overnight

Financing

Rate

+

1.51%

5.32%,

07/19/2035

(g) 1,125

1,161

Secured

Overnight

Financing

Rate

+

1.56%

5.52%,

11/19/2055

(g) 120

Secured

Overnight

Financing

Rate

+

1.71%

5.66%,

04/17/2036

(g) 115

Secured

Overnight

Financing

Rate

+

1.76%

Morgan

Stanley

Private

Bank

NA

4.73%,

07/18/2031

(g) 250

Secured

Overnight

Financing

Rate

+

1.08%

NatWest

Group

PLC

5.12%,

05/23/2031

(g) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

PNC

Financial

Services

Group

Inc/The

4.90%,

05/13/2031

(g) 160

Secured

Overnight

Financing

Rate

+

1.33%

5.37%,

07/21/2036

(g) 135

Secured

Overnight

Financing

Rate

+

1.42%

5.40%,

07/23/2035

(g) 130

Secured

Overnight

Financing

Rate

+

1.60%

5.58%,

01/29/2036

(g) 230

Secured

Overnight

Financing

Rate

+

1.39%

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

PNC

Financial

Services

Group

Inc/The

(continued)

5.68%,

01/22/2035

(g) $

635

$

670

Secured

Overnight

Financing

Rate

+

1.90%

6.88%,

10/20/2034

(g) 205

Secured

Overnight

Financing

Rate

+

2.28%

Royal

Bank

of

Canada

6.50%,

11/24/2085

(g) 415

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.46%

Scotiabank

Peru

SAA

6.10%,

10/01/2035

(d),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.31%

Truist

Financial

Corp

5.44%,

01/24/2030

(g) 80

Secured

Overnight

Financing

Rate

+

1.62%

7.16%,

10/30/2029

(g) 100

Secured

Overnight

Financing

Rate

+

2.45%

UBS

Group

AG

5.43%,

02/08/2030

(d),(g)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.52%

7.00%,

02/10/2030

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

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.08%

US

Bancorp

5.08%,

05/15/2031

(g) 280

Secured

Overnight

Financing

Rate

+

1.30%

5.10%,

07/23/2030

(g) 145

Secured

Overnight

Financing

Rate

+

1.25%

5.42%,

02/12/2036

(g) 155

Secured

Overnight

Financing

Rate

+

1.41%

5.68%,

01/23/2035

(g) 550

579

Secured

Overnight

Financing

Rate

+

1.86%

Westpac

Banking

Corp

4.11%,

07/24/2034

(g) 525

514

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

$

16,338

Biotechnology

-

0.24%

Amgen

Inc

5.60%,

03/02/2043

CSL

Finance

PLC

4.75%,

04/27/2052

(d) 240

$

516

Building

Materials

-

0.41%

AmeriTex

HoldCo

Intermediate

LLC

7.63%,

08/15/2033

(d) 248

Cemex

SAB

de

CV

7.20%,

06/10/2030

(d),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.52%

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(d) 409

$

876

Chemicals

-

0.67%

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(d) 260

6.50%,

05/15/2026

(d) 150

Ecolab

Inc

2.70%,

12/15/2051

(e) 400

International

Flavors

&

Fragrances

Inc

1.83%,

10/15/2027

(d) 210

3.47%,

12/01/2050

(d) 50

OCP

SA

6.75%,

05/02/2034

(d) 200

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(d) 275

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

(continued)

Vibrantz

Technologies

Inc

9.00%,

02/15/2030

(d) $

$

$

1,420

Commercial

Mortgage

Backed

Securities

-

5.40%

ALA

Trust

2025-OANA

5.89%,

06/15/2040

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.74%

BBCMS

Mortgage

Trust

2024-5C29

5.21%,

09/15/2057

2,000

2,053

BBCMS

Mortgage

Trust

2025-5C33

6.17%,

03/15/2058

(j) 500

524

Benchmark

2019-B15

Mortgage

Trust

3.56%,

12/15/2072

Benchmark

2021-B25

Mortgage

Trust

2.58%,

04/15/2054

BFLD

Commercial

Mortgage

Trust

2025-5MW

4.67%,

10/10/2042

(d),(j)

BPR

Trust

2024-PMDW

5.36%,

11/05/2041

(d),(j)

1,000

1,018

BSTN

Commercial

Mortgage

Trust

2025-1C

5.55%,

06/15/2044

(d),(j)

1,000

1,026

BX

2025-BIO3

Mortgage

Trust

6.14%,

02/10/2042

(d) 500

516

BX

Trust

2025-VLT6

5.59%,

03/15/2042

(d) 1,000

1,000

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

COMM

2025-167G

Mortgage

Trust

5.50%,

08/10/2040

(d) 350

DROP

Mortgage

Trust

2021-FILE

5.41%,

10/15/2043

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.26%

ELM

Trust

2024-ELM

5.99%,

06/10/2039

(d),(j)

850

859

GS

Mortgage

Securities

Trust

2011-GC5

0.11%,

08/10/2044

(d),(j),(k)

516

—

GS

Mortgage

Securities

Trust

2015-GC34

3.51%,

10/10/2048

GS

Mortgage

Securities

Trust

2020-GSA2

2.01%,

12/12/2053

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C24

4.71%,

11/15/2047

(j) 500

LBA

Trust

2024-7IND

5.59%,

10/15/2041

(d) 232

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

ORL

Trust

2024-GLKS

5.64%,

12/15/2039

(d) 500

500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.49%

SMRT

2022-MINI

5.15%,

01/15/2039

(d) 350

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.00%

SREIT

Trust

2021-MFP

5.00%,

11/15/2038

(d) 419

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.85%

Wells

Fargo

Commercial

Mortgage

Trust

2016-NXS5

3.37%,

01/15/2059

$

11,489

Commercial

Services

-

0.62%

ADT

Security

Corp/The

5.88%,

10/15/2033

(d),(f)

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Services

(continued)

Block

Inc

6.00%,

08/15/2033

(d) $

$

DP

World

Ltd/United

Arab

Emirates

6.85%,

07/02/2037

EquipmentShare.com

Inc

8.00%,

03/15/2033

(d) 140

8.63%,

05/15/2032

(d) 40

9.00%,

05/15/2028

(d) 137

Garda

World

Security

Corp

6.00%,

06/01/2029

(d) 145

8.38%,

11/15/2032

(d) 145

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

6.25%,

01/15/2028

(d) 32

Veritiv

Operating

Co

10.50%,

11/30/2030

(d) 120

Williams

Scotsman

Inc

4.63%,

08/15/2028

(d) 65

ZipRecruiter

Inc

5.00%,

01/15/2030

(d) 215

$

1,319

Computers

-

0.81%

Hewlett

Packard

Enterprise

Co

4.40%,

10/15/2030

4.55%,

10/15/2029

5.00%,

10/15/2034

5.60%,

10/15/2054

International

Business

Machines

Corp

5.70%,

02/10/2055

McAfee

Corp

7.38%,

02/15/2030

(d) 155

NCR

Atleos

Corp

9.50%,

04/01/2029

(d) 135

$

1,718

Consumer

Products

-

0.02%

Kronos

Acquisition

Holdings

Inc

8.25%,

06/30/2031

(d) 45

Credit

Card

Asset

Backed

Securities

-

2.58%

American

Express

Credit

Account

Master

Trust

4.87%,

05/15/2028

5.23%,

09/15/2028

1,000

1,013

5.24%,

04/15/2031

955

997

BA

Credit

Card

Trust

5.00%,

04/15/2028

550

550

Citibank

Credit

Card

Issuance

Trust

3.96%,

10/13/2030

500

500

5.23%,

12/08/2027

Discover

Card

Execution

Note

Trust

4.31%,

03/15/2028

1,025

1,026

5.03%,

10/15/2027

630

630

WF

Card

Issuance

Trust

4.34%,

05/15/2030

$

5,496

Diversified

Financial

Services

-

2.63%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

3.00%,

10/29/2028

6.95%,

03/10/2055

(g) 345

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

Air

Lease

Corp

1.88%,

08/15/2026

Aircastle

Ltd

5.95%,

02/15/2029

(d) 60

Aircastle

Ltd

/

Aircastle

Ireland

DAC

5.00%,

09/15/2030

(d) 380

5.75%,

10/01/2031

(d) 355

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Charles

Schwab

Corp/The

5.85%,

05/19/2034

(g) $

$

Secured

Overnight

Financing

Rate

+

2.50%

Citadel

Securities

Global

Holdings

LLC

5.50%,

06/18/2030

(d) 500

513

6.20%,

06/18/2035

(d) 250

Credit

Acceptance

Corp

6.63%,

03/15/2030

(d) 195

9.25%,

12/15/2028

(d) 70

Freedom

Mortgage

Holdings

LLC

7.88%,

04/01/2033

(d) 25

9.13%,

05/15/2031

(d) 155

Global

Aircraft

Leasing

Co

Ltd

8.75%,

09/01/2027

(d) 294

ILFC

E-Capital

Trust

II

6.06%,

12/21/2065

(d),(e)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.00%

Jane

Street

Group

/

JSG

Finance

Inc

6.13%,

11/01/2032

(d) 444

6.75%,

05/01/2033

(d) 491

510

OneMain

Finance

Corp

3.50%,

01/15/2027

4.00%,

09/15/2030

6.63%,

01/15/2028

7.13%,

11/15/2031

7.50%,

05/15/2031

Rfna

LP

7.88%,

02/15/2030

(d) 60

Rocket

Cos

Inc

6.13%,

08/01/2030

(d) 95

SLM

Corp

3.13%,

11/02/2026

TrueNoord

Capital

DAC

8.75%,

03/01/2030

(d) 105

$

5,586

Electric

-

3.50%

AEP

Transmission

Co

LLC

5.38%,

06/15/2035

Alliant

Energy

Finance

LLC

5.40%,

06/06/2027

(d) 535

542

5.95%,

03/30/2029

(d) 95

Atlantica

Sustainable

Infrastructure

Ltd

4.13%,

06/15/2028

(d) 255

Berkshire

Hathaway

Energy

Co

4.60%,

05/01/2053

Black

Hills

Corp

4.55%,

01/31/2031

(f) 145

California

Buyer

Ltd

/

Atlantica

Sustainable

Infrastructure

PLC

6.38%,

02/15/2032

(d) 235

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(d) 30

3.75%,

01/15/2032

(d) 219

4.75%,

03/15/2028

(d) 115

CMS

Energy

Corp

6.50%,

06/01/2055

(g) 425

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.96%

Commonwealth

Edison

Co

4.00%,

03/01/2049

Consolidated

Edison

Co

of

New

York

Inc

5.90%,

11/15/2053

Consumers

Energy

Co

5.05%,

05/15/2035

DTE

Energy

Co

5.20%,

04/01/2030

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Duke

Energy

Carolinas

LLC

3.75%,

06/01/2045

$

$

Duke

Energy

Florida

LLC

6.20%,

11/15/2053

Exelon

Corp

5.60%,

03/15/2053

Indianapolis

Power

&

Light

Co

5.70%,

04/01/2054

(d) 145

Interstate

Power

and

Light

Co

5.60%,

06/29/2035

509

Lightning

Power

LLC

7.25%,

08/15/2032

(d) 217

Louisville

Gas

and

Electric

Co

5.85%,

08/15/2055

MidAmerican

Energy

Co

3.15%,

04/15/2050

NextEra

Energy

Capital

Holdings

Inc

5.45%,

03/15/2035

6.38%,

08/15/2055

(g) 250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.05%

6.70%,

09/01/2054

(g) 335

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.36%

NRG

Energy

Inc

5.41%,

10/15/2035

(d),(f)

5.75%,

01/15/2034

(d),(f)

6.00%,

01/15/2036

(d),(f)

Pacific

Gas

and

Electric

Co

3.25%,

06/01/2031

5.55%,

05/15/2029

Public

Service

Co

of

Colorado

5.25%,

04/01/2053

Puget

Sound

Energy

Inc

5.60%,

09/15/2055

Saavi

Energia

Sarl

8.88%,

02/10/2035

(d) 200

Southern

Co/The

5.70%,

03/15/2034

Southern

Power

Co

4.90%,

10/01/2035

Trans-Allegheny

Interstate

Line

Co

5.00%,

01/15/2031

(d) 365

Vistra

Corp

7.00%,

12/15/2026

(d),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.74%

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(d) 65

Xcel

Energy

Inc

5.45%,

08/15/2033

$

7,434

Electrical

Components

&

Equipment

-

0.02%

WESCO

Distribution

Inc

7.25%,

06/15/2028

(d) 43

Engineering

&

Construction

-

0.10%

ATP

Tower

Holdings

/

Andean

Telecom

Partners

Chile

SpA

/

Andean

Tower

Partners

Colombia

SAS

7.88%,

02/03/2030

(d) 200

Entertainment

-

0.41%

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(d),(e)

6.50%,

02/15/2032

(d) 185

Cinemark

USA

Inc

5.25%,

07/15/2028

(d),(e)

7.00%,

08/01/2032

(d) 95

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Entertainment

(continued)

Warnermedia

Holdings

Inc

3.76%,

03/15/2027

$

$

5.05%,

03/15/2042

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

7.13%,

02/15/2031

(d) 30

$

862

Environmental

Control

-

0.09%

Madison

IAQ

LLC

4.13%,

06/30/2028

(d) 90

Waste

Connections

Inc

5.25%,

09/01/2035

$

Food

-

1.22%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

4.63%,

01/15/2027

(d) 85

B&G

Foods

Inc

5.25%,

09/15/2027

(e) 20

8.00%,

09/15/2028

(d) 217

Chobani

Holdco

II

LLC

8.75%,

PIK

9.50%;

10/01/2029

(d),(j),(l)

Chobani

LLC

/

Chobani

Finance

Corp

Inc

7.63%,

07/01/2029

(d) 145

Fiesta

Purchaser

Inc

7.88%,

03/01/2031

(d) 140

JBS

USA

Holding

Lux

Sarl

/

JBS

USA

Foods

Group

Holdings

Inc

/

JBS

USA

Food

Co

6.25%,

03/01/2056

(d) 85

6.38%,

04/15/2066

(d) 160

JBS

USA

Holding

Lux

Sarl/

JBS

USA

Food

Co/

JBS

Lux

Co

Sarl

4.38%,

02/02/2052

526

JBS

USA

LUX

Sarl

/

JBS

USA

Food

Co

/

JBS

USA

Foods

Group

6.38%,

02/25/2055

(d) 125

Mars

Inc

5.20%,

03/01/2035

(d) 540

552

5.70%,

05/01/2055

(d) 398

Post

Holdings

Inc

5.50%,

12/15/2029

(d) 70

$

2,599

Forest

Products

&

Paper

-

0.03%

Mercer

International

Inc

5.13%,

02/01/2029

12.88%,

10/01/2028

(d) 45

$

Gas

-

0.39%

Boston

Gas

Co

5.84%,

01/10/2035

(d) 100

NiSource

Inc

6.95%,

11/30/2054

(g) 310

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.45%

Southern

California

Gas

Co

5.05%,

09/01/2034

6.00%,

06/15/2055

$

833

Healthcare

-

Services

-

0.57%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(d) 145

7.38%,

03/15/2033

(d),(e)

Centene

Corp

2.63%,

08/01/2031

4.25%,

12/15/2027

Global

Medical

Response

Inc

7.38%,

10/01/2032

(d) 75

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

HCA

Inc

5.45%,

04/01/2031

$

$

LifePoint

Health

Inc

8.38%,

02/15/2032

(d) 217

Tenet

Healthcare

Corp

6.13%,

06/15/2030

UnitedHealth

Group

Inc

4.75%,

05/15/2052

(e) 235

5.75%,

07/15/2064

$

1,205

Home

Builders

-

0.08%

Adams

Homes

Inc

9.25%,

10/15/2028

(d) 105

K

Hovnanian

Enterprises

Inc

8.38%,

10/01/2033

(d) 65

$

Home

Equity

Asset

Backed

Securities

-

0.02%

Saxon

Asset

Securities

Trust

2004-1

4.58%,

03/25/2035

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

Insurance

-

0.80%

American

International

Group

Inc

5.45%,

05/07/2035

Aon

North

America

Inc

5.75%,

03/01/2054

Arch

Capital

Finance

LLC

4.01%,

12/15/2026

Arthur

J

Gallagher

&

Co

2.40%,

11/09/2031

5.15%,

02/15/2035

5.55%,

02/15/2055

Brown

&

Brown

Inc

4.70%,

06/23/2028

5.55%,

06/23/2035

Corebridge

Financial

Inc

5.75%,

01/15/2034

Equitable

America

Global

Funding

4.95%,

06/09/2030

(d) 90

Markel

Group

Inc

6.00%,

05/16/2054

Marsh

&

McLennan

Cos

Inc

6.25%,

11/01/2052

MetLife

Inc

5.00%,

07/15/2052

5.30%,

12/15/2034

Northwestern

Mutual

Life

Insurance

Co/The

6.17%,

05/29/2055

(d) 120

Teachers

Insurance

&

Annuity

Association

of

America

4.27%,

05/15/2047

(d) 85

$

1,705

Internet

-

0.38%

Cogent

Communications

Group

LLC

/

Cogent

Finance

Inc

7.00%,

06/15/2027

(d) 15

Meituan

4.63%,

10/02/2029

(d),(e)

Meta

Platforms

Inc

4.45%,

08/15/2052

5.40%,

08/15/2054

$

801

Investment

Companies

-

0.15%

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(d) 7

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Investment

Companies

(continued)

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

$

$

5.25%,

05/15/2027

10.00%,

11/15/2029

(d) 102

$

Leisure

Products

&

Services

-

0.04%

NCL

Finance

Ltd

6.13%,

03/15/2028

(d) 80

Lodging

-

0.09%

Wynn

Macau

Ltd

5.63%,

08/26/2028

(d) 200

Machinery

-

Diversified

-

0.07%

Maxim

Crane

Works

Holdings

Capital

LLC

11.50%,

09/01/2028

(d) 140

Media

-

1.24%

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(d) 163

5.38%,

06/01/2029

(d) 70

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.90%,

06/01/2052

525

5.85%,

12/01/2035

6.10%,

06/01/2029

6.55%,

06/01/2034

6.70%,

12/01/2055

Comcast

Corp

2.94%,

11/01/2056

Directv

Financing

LLC

8.88%,

02/01/2030

(d) 110

8.88%,

02/01/2030

(d) 84

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

10.00%,

02/15/2031

(d) 5

Discovery

Communications

LLC

4.13%,

05/15/2029

DISH

DBS

Corp

5.25%,

12/01/2026

(d) 16

DISH

Network

Corp

11.75%,

11/15/2027

(d) 126

iHeartCommunications

Inc

4.75%,

01/15/2028

(d) 39

Paramount

Global

4.20%,

05/19/2032

Sinclair

Television

Group

Inc

8.13%,

02/15/2033

(d) 225

$

2,643

Metal

Fabrication

&

Hardware

-

0.05%

TMS

International

Corp/DE

6.25%,

04/15/2029

(d) 115

Mining

-

0.41%

First

Quantum

Minerals

Ltd

8.00%,

03/01/2033

(d) 200

Glencore

Funding

LLC

5.19%,

04/01/2030

(d) 210

5.37%,

04/04/2029

(d) 175

New

Gold

Inc

6.88%,

04/01/2032

(d) 40

Taseko

Mines

Ltd

8.25%,

05/01/2030

(d) 210

$

872

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

-

2.87%

Fannie

Mae

REMICS

1.53%,

12/25/2049

(k) $

1,980

$

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

1.58%,

08/25/2049

(k) 1,877

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.63%,

02/25/2043

(k) 99

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

1.63%,

08/25/2043

(k) 555

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

1.68%,

12/25/2042

(k) 1,257

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

1.68%,

01/25/2048

(k) 483

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

1.73%,

03/25/2048

(k) 631

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.09%

1.73%,

06/25/2048

(k) 674

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.09%

3.00%,

04/25/2027

(k) 12

—

3.00%,

09/25/2050

(k) 751

3.50%,

11/25/2027

(k) 9

—

Freddie

Mac

REMICS

1.56%,

10/15/2046

(k) 843

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.68%,

06/25/2050

(k) 689

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

3.00%,

05/15/2027

(k) 8

—

3.00%,

10/15/2027

(k) 8

—

4.94%,

05/15/2049

695

678

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.56%

Ginnie

Mae

1.79%,

12/16/2043

(k) 718

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.94%

1.85%,

06/20/2046

(k) 247

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

1.85%,

11/20/2046

(k) 639

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

1.86%,

09/20/2050

(k) 625

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.25%

1.89%,

12/20/2043

(k) 122

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.03%

1.95%,

10/20/2045

(k) 287

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

1.95%,

08/20/2047

(k) 694

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

1.95%,

11/20/2047

(k) 207

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.00%,

06/20/2045

(k) 564

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.14%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Ginnie

Mae

(continued)

2.05%,

08/20/2050

(k) $

763

$

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.05%,

11/20/2050

(k) 539

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.05%,

08/20/2051

(k) 524

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.42%,

04/20/2041

(k) 437

(1.10)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.97%

2.50%,

12/20/2050

(k) 925

3.00%,

07/20/2050

(k) 199

3.00%,

11/20/2050

(k) 460

3.00%,

11/20/2050

(k) 701

3.00%,

11/20/2050

(k) 892

3.50%,

10/20/2049

(k) 317

JP

Morgan

Mortgage

Trust

2024-1

6.00%,

06/25/2054

(d),(j)

JP

Morgan

Mortgage

Trust

2024-2

6.00%,

08/25/2054

(d),(j)

JP

Morgan

Mortgage

Trust

2025-1

6.00%,

06/25/2055

(d),(j)

JP

Morgan

Mortgage

Trust

Series

2024-4

6.00%,

10/25/2054

(d),(j)

Sequoia

Mortgage

Trust

2024-2

6.00%,

03/25/2054

(d),(j)

590

592

Sequoia

Mortgage

Trust

2024-3

6.00%,

04/25/2054

(d),(j)

604

606

$

6,094

Oil

&

Gas

-

1.06%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

7.50%,

10/01/2029

(d) 280

Chord

Energy

Corp

6.00%,

10/01/2030

(d) 130

ConocoPhillips

Co

5.50%,

01/15/2055

Diamondback

Energy

Inc

5.75%,

04/18/2054

Ecopetrol

SA

8.88%,

01/13/2033

EQT

Corp

7.50%,

06/01/2027

Matador

Resources

Co

6.25%,

04/15/2033

(d) 299

Occidental

Petroleum

Corp

5.20%,

08/01/2029

Permian

Resources

Operating

LLC

8.00%,

04/15/2027

(d) 75

Petroleos

Mexicanos

7.69%,

01/23/2050

Saudi

Arabian

Oil

Co

4.75%,

06/02/2030

(d) 200

Sunoco

LP

5.88%,

03/15/2034

(d) 199

$

2,255

Oil

&

Gas

Services

-

0.09%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(d) 110

Enerflex

Ltd

9.00%,

10/15/2027

(d) 80

$

Other

Asset

Backed

Securities

-

0.98%

Hilton

Grand

Vacations

Trust

2024-3

4.98%,

08/27/2040

(d) 240

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Hotwire

Funding

LLC

2.31%,

11/20/2051

(d) $

600

$

585

Verizon

Master

Trust

4.35%,

08/20/2032

(d) 525

530

Verizon

Master

Trust

Series

2025-2

4.94%,

01/20/2033

(d) 215

Zayo

Issuer

LLC

5.57%,

10/20/2055

(d),(f)

500

505

$

2,084

Packaging

&

Containers

-

0.82%

Canpack

SA

/

Canpack

US

LLC

3.13%,

11/01/2025

(d) 200

Clydesdale

Acquisition

Holdings

Inc

6.75%,

04/15/2032

(d) 100

8.75%,

04/15/2030

(d) 60

LABL

Inc

5.88%,

11/01/2028

(d) 95

9.50%,

11/01/2028

(d) 280

Mauser

Packaging

Solutions

Holding

Co

7.88%,

04/15/2027

(d) 176

9.25%,

04/15/2027

(d) 149

Packaging

Corp

of

America

5.20%,

08/15/2035

Smurfit

Kappa

Treasury

ULC

5.20%,

01/15/2030

$

1,745

Pharmaceuticals

-

1.00%

1261229

BC

Ltd

10.00%,

04/15/2032

(d) 200

AbbVie

Inc

4.25%,

11/21/2049

5.50%,

03/15/2064

AdaptHealth

LLC

6.13%,

08/01/2028

(d) 105

Bayer

US

Finance

LLC

6.25%,

01/21/2029

(d) 200

CVS

Health

Corp

5.45%,

09/15/2035

Eli

Lilly

&

Co

5.50%,

02/12/2055

5.65%,

10/15/2065

Endo

Finance

Holdings

Inc

8.50%,

04/15/2031

(d) 210

Jazz

Securities

DAC

4.38%,

01/15/2029

(d) 295

Zoetis

Inc

5.00%,

08/17/2035

$

2,127

Pipelines

-

1.73%

Cheniere

Energy

Inc

5.65%,

04/15/2034

Cheniere

Energy

Partners

LP

5.55%,

10/30/2035

(d) 150

DT

Midstream

Inc

4.13%,

06/15/2029

(d) 665

649

Energy

Transfer

LP

3.75%,

05/15/2030

505

5.15%,

03/15/2045

5.25%,

07/01/2029

6.50%,

02/15/2056

(g) 310

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

Kinder

Morgan

Inc

5.15%,

06/01/2030

5.40%,

02/01/2034

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp

8.13%,

02/15/2029

(d) 65

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

ONEOK

Inc

4.40%,

10/15/2029

$

$

4.75%,

10/15/2031

5.70%,

11/01/2054

Venture

Global

LNG

Inc

7.00%,

01/15/2030

(d),(e)

8.38%,

06/01/2031

(d) 20

9.00%,

09/30/2029

(d),(g),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.44%

9.50%,

02/01/2029

(d) 190

$

3,677

REITs

-

1.02%

American

Homes

Rent

LP

3.38%,

07/15/2051

4.25%,

02/15/2028

4.95%,

06/15/2030

5.50%,

07/15/2034

Arbor

Realty

SR

Inc

7.88%,

07/15/2030

(d) 120

Blackstone

Mortgage

Trust

Inc

7.75%,

12/01/2029

(d) 160

Broadstone

Net

Lease

LLC

5.00%,

11/01/2032

CFE

Fibra

E

5.88%,

09/23/2040

(d) 200

EF

Holdco

/

EF

Cayman

Hold

/

Ellington

Fin

REIT

Cayman/TRS

/

EF

Cayman

Non-MTM

7.38%,

09/30/2030

(d),(f)

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(d) 163

7.00%,

07/15/2031

(d) 80

Mid-America

Apartments

LP

2.88%,

09/15/2051

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(d) 85

7.00%,

02/01/2030

(d) 65

Uniti

Group

LP

/

Uniti

Fiber

Holdings

Inc

/

CSL

Capital

LLC

6.00%,

01/15/2030

(d) 186

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

8.63%,

06/15/2032

(d) 35

10.50%,

02/15/2028

(d) 52

XHR

LP

4.88%,

06/01/2029

(d) 110

6.63%,

05/15/2030

(d) 5

$

2,160

Retail

-

0.60%

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

6.63%,

10/01/2030

(d) 34

6.75%,

07/01/2036

6.95%,

03/01/2033

Carvana

Co

9.00%,

PIK

0.00%;

06/01/2030

(d),(j),(l)

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(d) 190

Lowe's

Cos

Inc

4.25%,

03/15/2031

Park

River

Holdings

Inc

8.00%,

03/15/2031

(d),(f)

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

7.75%,

10/15/2029

(d) 67

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

Victra

Holdings

LLC

/

Victra

Finance

Corp

8.75%,

09/15/2029

(d) $

$

$

1,273

Semiconductors

-

1.75%

Broadcom

Inc

3.14%,

11/15/2035

(d) 34

3.42%,

04/15/2033

(d) 1,047

969

4.35%,

02/15/2030

4.55%,

02/15/2032

5.05%,

07/12/2029

5.15%,

11/15/2031

5.20%,

07/15/2035

Intel

Corp

4.75%,

03/25/2050

(e) 210

Kioxia

Holdings

Corp

6.63%,

07/24/2033

(d) 200

Marvell

Technology

Inc

2.95%,

04/15/2031

4.75%,

07/15/2030

5.45%,

07/15/2035

5.95%,

09/15/2033

Micron

Technology

Inc

5.30%,

01/15/2031

5.80%,

01/15/2035

6.75%,

11/01/2029

$

3,713

Shipbuilding

-

0.04%

Huntington

Ingalls

Industries

Inc

5.75%,

01/15/2035

Software

-

0.62%

Cloud

Software

Group

Inc

9.00%,

09/30/2029

(d) 60

Open

Text

Corp

3.88%,

12/01/2029

(d) 35

Oracle

Corp

3.95%,

03/25/2051

4.00%,

07/15/2046

4.80%,

09/26/2032

5.20%,

09/26/2035

5.95%,

09/26/2055

Synopsys

Inc

5.70%,

04/01/2055

VMware

LLC

1.80%,

08/15/2028

$

1,316

Sovereign

-

0.42%

Colombia

Government

International

Bond

8.50%,

04/25/2035

Istanbul

Metropolitan

Municipality

10.50%,

12/06/2028

(d) 200

Mexico

Government

International

Bond

5.38%,

03/22/2033

Romanian

Government

International

Bond

6.63%,

05/16/2036

(d) 250

$

893

Telecommunications

-

1.95%

AT&T

Inc

2.55%,

12/01/2033

3.50%,

09/15/2053

969

670

3.55%,

09/15/2055

Digicel

International

Finance

Ltd

/

Difl

US

LLC

8.63%,

08/01/2032

(d) 400

EchoStar

Corp

10.75%,

11/30/2029

T-Mobile

USA

Inc

2.40%,

03/15/2029

2.55%,

02/15/2031

2.88%,

02/15/2031

(e) 495

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

T-Mobile

USA

Inc

(continued)

5.13%,

05/15/2032

(e) $

$

5.88%,

11/15/2055

Verizon

Communications

Inc

2.55%,

03/21/2031

2.88%,

11/20/2050

Viasat

Inc

7.50%,

05/30/2031

(d) 242

Viavi

Solutions

Inc

3.75%,

10/01/2029

(d) 60

Windstream

Services

LLC

7.50%,

10/15/2033

(d),(f)

Zayo

Group

Holdings

Inc

9.25%,

PIK

0.00%;

03/09/2030

(d),(e),(j),(l)

$

4,145

Transportation

-

0.30%

Burlington

Northern

Santa

Fe

LLC

4.45%,

01/15/2053

Eletson

Holdings

Inc

-

Escrow

0.00%,

01/15/2022

(m),(n)

—

Norfolk

Southern

Corp

5.10%,

05/01/2035

5.35%,

08/01/2054

(e) 295

RXO

Inc

7.50%,

11/15/2027

(d) 60

Watco

Cos

LLC

/

Watco

Finance

Corp

7.13%,

08/01/2032

(d) 148

$

648

Water

-

0.10%

Aegea

Finance

Sarl

9.00%,

01/20/2031

(d) 200

TOTAL

BONDS

$

117,836

SENIOR

FLOATING

RATE

INTERESTS

-

2.45%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

0.09%

TransDigm

Inc

Term

Loan

J

3.50%,

02/28/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Airlines

-

0.13%

AAdvantage

Loyalty

IP

Ltd

Term

Loan

B

6.58%,

04/20/2028

(o) 38

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

United

Airlines

Inc

Term

Loan

B

6.22%,

02/22/2031

(o) 187

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

WestJet

Loyalty

LP

Term

Loan

B

7.25%,

02/14/2031

(o) 48

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

$

Building

Materials

-

0.06%

MI

Windows

And

Doors

LLC

Term

Loan

B3

7.51%,

03/28/2031

(o) 133

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Chemicals

-

0.11%

Advancion

Holdings

LLC

Term

Loan

12.01%,

11/24/2028

(o) 143

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.75%

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

(continued)

Element

Solutions

Inc

Term

Loan

B3

5.91%,

12/18/2030

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

Commercial

Services

-

0.25%

Aggreko

Holdings

Inc

Term

Loan

B

7.22%,

05/21/2031

(o) 89

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Garda

World

Security

Corp

Term

Loan

B

7.17%,

02/01/2029

(o) 236

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Veritiv

Operating

Co

Term

Loan

B

8.00%,

11/30/2030

(o) 199

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

$

522

Computers

-

0.08%

McAfee

Corp

Term

Loan

B1

0.00%,

03/01/2029

(o),(p)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Consumer

Products

-

0.09%

Kronos

Acquisition

Holdings

Inc

Term

Loan

B

8.00%,

06/27/2031

(o) 262

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Diversified

Financial

Services

-

0.19%

Jane

Street

Group

LLC

Term

Loan

B

6.21%,

12/15/2031

(o) 214

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Russell

Investments

US

Institutional

Holdco

Inc

PIK

Term

Loan

B

9.31%,

PIK

1.50%,

05/30/2027

(l),(o)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

$

Food

-

0.11%

Fiesta

Purchaser

Inc

Term

Loan

B

7.51%,

02/12/2031

(o) 232

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Insurance

-

0.08%

Asurion

LLC

Term

Loan

B4

10.12%,

01/20/2029

(o) 185

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Investment

Companies

-

0.06%

Deep

Blue

Operating

I

LLC

Term

Loan

B

0.00%,

09/17/2032

(o),(p)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Lodging

-

0.12%

Fertitta

Entertainment

LLC/NV

Term

Loan

B

7.41%,

01/27/2029

(o) 264

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Machinery

-

Diversified

-

0.01%

TK

Elevator

US

Newco

Inc

Term

Loan

B

7.20%,

04/30/2030

(o) 10

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

-

0.22%

Directv

Financing

LLC

Term

Loan

Extended

9.82%,

08/02/2029

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Directv

Financing

LLC

Term

Loan

B

9.81%,

02/15/2031

(o) 177

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

iHeartCommunications

Inc

Term

Loan

10.05%,

05/01/2029

(o) 264

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.78%

$

Mining

-

0.14%

Arsenal

AIC

Parent

LLC

Term

Loan

B

6.97%,

08/18/2030

(o) 299

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Packaging

&

Containers

-

0.23%

Clydesdale

Acquisition

Holdings

Inc

Term

Loan

B

7.41%,

03/26/2032

(o) 172

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

LABL

Inc

Term

Loan

B

9.86%,

10/22/2028

(o) 218

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

Mauser

Packaging

Solutions

Holding

Co

Term

Loan

B1

7.28%,

04/15/2027

(o) 128

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

Pharmaceuticals

-

0.22%

1261229

BC

Ltd

Term

Loan

B

11.01%,

09/25/2030

(o) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.25%

Endo

Finance

Holdings

Inc

Term

Loan

B

8.16%,

04/23/2031

(o) 227

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Jazz

Financing

Lux

Sarl

Term

Loan

B2

7.02%,

05/05/2028

(o) 73

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

Pipelines

-

0.06%

NGL

Energy

Operating

LLC

Term

Loan

B

0.00%,

02/03/2031

(o),(p)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Retail

-

0.03%

IRB

Holding

Corp

Term

Loan

B

6.66%,

12/15/2027

(o) 72

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Telecommunications

-

0.17%

CommScope

LLC

Term

Loan

7.50%,

12/17/2029

(o) 170

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

Zayo

Group

Holdings

Inc

Term

Loan

7.77%,

03/11/2030

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

5,213

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

40.18%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

0.73%

3.00%,

11/01/2042

$

$

3.00%,

11/01/2042

3.00%,

12/01/2046

3.50%,

10/01/2041

3.50%,

04/01/2042

3.50%,

10/01/2045

3.50%,

03/01/2048

4.00%,

02/01/2045

4.00%,

02/01/2046

4.00%,

02/01/2046

4.00%,

06/01/2046

4.00%,

04/01/2047

4.00%,

11/01/2047

4.50%,

10/01/2041

4.50%,

12/01/2043

5.00%,

06/01/2031

5.00%,

10/01/2035

5.00%,

06/01/2041

6.00%,

06/01/2032

6.00%,

10/01/2032

6.00%,

01/01/2038

6.50%,

05/01/2029

6.50%,

04/01/2031

6.50%,

02/01/2032

6.50%,

05/01/2032

7.00%,

12/01/2029

7.00%,

06/01/2030

7.00%,

12/01/2031

7.50%,

03/01/2031

8.00%,

09/01/2030

$

1,554

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

20.22%

2.00%,

01/01/2051

864

718

2.00%,

02/01/2051

3,065

2,523

2.00%,

05/01/2051

1,493

1,213

2.00%,

11/01/2051

972

796

2.00%,

12/01/2051

2.00%,

12/01/2051

1,516

1,238

2.00%,

05/01/2052

2.50%,

11/01/2050

2.50%,

02/01/2051

1,168

1,005

2.50%,

07/01/2051

874

749

2.50%,

11/01/2051

524

2.50%,

12/01/2051

1,034

888

2.50%,

01/01/2052

716

606

2.50%,

04/01/2052

1,262

1,076

3.00%,

03/01/2034

3.00%,

11/01/2050

3.00%,

03/01/2052

854

764

3.00%,

04/01/2052

1,071

957

3.00%,

06/01/2052

3.50%,

04/01/2030

3.50%,

08/01/2034

3.50%,

12/01/2040

3.50%,

12/01/2041

3.50%,

03/01/2042

3.50%,

04/01/2042

3.50%,

11/01/2042

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

01/01/2044

$

$

3.50%,

05/01/2046

3.50%,

10/01/2047

572

536

3.50%,

06/01/2051

4.00%,

05/01/2041

4.00%,

10/01/2041

4.00%,

10/01/2041

4.00%,

11/01/2041

4.00%,

04/01/2042

4.00%,

02/01/2044

4.00%,

09/01/2044

4.00%,

09/01/2045

4.00%,

12/01/2045

4.00%,

01/01/2047

4.00%,

10/01/2048

4.00%,

10/01/2052

4.00%,

03/01/2053

1,121

1,062

4.00%,

08/01/2053

1,592

1,505

4.00%,

11/01/2053

4.50%,

08/01/2040

4.50%,

11/01/2040

4.50%,

08/01/2041

4.50%,

09/01/2041

4.50%,

06/01/2046

4.50%,

05/01/2047

4.50%,

05/01/2047

4.50%,

05/01/2049

4.50%,

07/01/2052

595

582

4.50%,

09/01/2052

1,517

1,483

4.50%,

10/01/2052

4.50%,

05/01/2053

4.50%,

05/01/2053

851

829

4.50%,

08/01/2053

4.50%,

01/01/2054

5.00%,

10/01/2041

5.00%,

06/01/2048

5.00%,

07/01/2052

5.00%,

09/01/2052

5.00%,

04/01/2053

822

819

5.00%,

04/01/2053

571

569

5.00%,

06/01/2053

843

840

5.00%,

06/01/2053

736

736

5.00%,

11/01/2054

626

626

5.00%,

11/01/2054

5.00%,

02/01/2055

5.00%,

10/01/2055

(q) 610

605

5.50%,

07/01/2033

5.50%,

08/01/2036

5.50%,

05/01/2040

5.50%,

07/01/2053

504

5.50%,

11/01/2053

605

615

5.50%,

11/01/2053

604

617

5.50%,

03/01/2054

5.50%,

05/01/2054

5.50%,

02/01/2055

836

850

5.50%,

04/01/2055

5.50%,

06/01/2055

667

678

5.50%,

06/01/2055

5.50%,

08/01/2055

5.50%,

10/01/2055

(q) 2,280

2,299

6.00%,

05/01/2031

6.00%,

07/01/2035

6.00%,

02/01/2037

6.00%,

02/01/2038

6.00%,

01/01/2053

6.00%,

04/01/2054

6.00%,

05/01/2054

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

6.00%,

06/01/2054

$

$

6.00%,

09/01/2054

6.00%,

09/01/2054

507

522

6.00%,

11/01/2054

729

752

6.00%,

10/01/2055

(q) 785

802

6.50%,

03/01/2032

6.50%,

07/01/2037

6.50%,

02/01/2038

6.50%,

09/01/2038

6.50%,

10/01/2053

6.50%,

05/01/2054

6.50%,

04/01/2055

$

43,002

Government

National

Mortgage

Association

(GNMA)

-

9.22%

2.00%,

07/20/2051

975

806

2.50%,

06/20/2050

2.50%,

04/20/2051

2.50%,

09/20/2051

3.00%,

07/20/2044

3.00%,

01/20/2046

3.00%,

12/20/2046

3.00%,

09/20/2051

3.50%,

04/20/2046

3.50%,

10/20/2055

(q) 1,100

1,003

4.00%,

06/20/2046

4.00%,

04/20/2052

4.50%,

09/15/2039

4.50%,

11/15/2040

4.50%,

09/20/2052

523

511

4.50%,

06/20/2053

657

640

4.50%,

08/20/2053

1,535

1,493

4.50%,

10/20/2055

(q) 675

655

5.00%,

02/20/2053

1,209

1,209

5.00%,

05/20/2053

511

510

5.00%,

09/20/2053

5.00%,

10/20/2053

943

942

5.00%,

02/20/2054

5.00%,

04/20/2054

1,188

1,183

5.00%,

10/20/2055

(q) 810

806

5.50%,

12/20/2033

5.50%,

05/20/2035

5.50%,

12/20/2048

5.50%,

10/20/2055

(q) 5,695

5,737

6.00%,

01/20/2029

6.00%,

07/20/2029

6.00%,

12/15/2033

6.00%,

12/20/2036

6.00%,

04/20/2054

694

708

6.00%,

10/20/2055

(q) 75

6.50%,

05/20/2029

6.50%,

12/15/2032

8.00%,

12/15/2030

$

19,606

U.S.

Treasury

-

7.81%

3.00%,

05/15/2045

1,140

887

3.00%,

11/15/2045

(r) 2,750

2,129

3.63%,

08/31/2027

5,170

5,170

3.75%,

06/30/2027

3.75%,

05/15/2028

1,640

1,645

4.00%,

05/31/2030

4.25%,

12/31/2026

2,000

2,013

4.25%,

08/15/2035

4.50%,

11/15/2033

2,000

2,068

4.75%,

02/15/2037

1,435

1,507

$

16,602

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

Bill

-

2.20%

4.22%,

10/16/2025

(s) $

4,675

$

4,667

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

85,431

Total

Investments

$

227,210

Other

Assets

and

Liabilities

- (6.85)%

(14,574)

TOTAL

NET

ASSETS

-

100.00%

$

212,636

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,166

or

1.02%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$48,032

or

22.59%

of

net

assets.

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,073

or

0.97%

of

net

assets.

(f) Security

purchased

on

a

when-issued

basis.

(g) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(h) Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(i) Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$233

or

0.11%

of

net

assets.

(j) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(k) Security

is

an

Interest

Only

Strip.

(l) Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(m) Non-income

producing

security

(n) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(o) Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(p) This

Senior

Floating

Rate

Note

will

settle

after

September

30,

2025,

at

which

time

the

interest

rate

will

be

determined.

(q) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(r) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,459

or

0.69%

of

net

assets.

(s) Rate

shown

is

the

discount

rate

of

the

original

purchase.

Schedule

of

Investments

Core

Plus

Bond

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

12,737

$

145,066

$

150,586

$

7,217

$

12,737

$

145,066

$

150,586

$

7,217

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury

Note;

December

2025

Long

$

5,962

$

(5) US

Year

Treasury

Ultra

Note;

December

2025

Short

5,984

(44) US

Year

Treasury

Note;

December

2025

Long

17,922

(11) US

Year

Treasury Note;

December

2025

Long

11,793

(25) US

Long

Bond;

December

2025

Long

9,561

US

Ultra

Bond;

December

2025

Long

2,882

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Diversified

Balanced

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.99

%

International

Equity

Index

Fund

(a) 2,731,257

$

37,746

MidCap

S&P

Index

Fund

(a) 922,534

21,366

SmallCap

S&P

600

Index

Fund

(a) 798,281

21,362

$

80,474

Principal

Variable

Contracts

Funds,

Inc. Class

-

.04

%

Bond

Market

Index

Account

(a) 28,594,514

267,931

LargeCap

S&P

500

Index

Account

(a) 7,968,817

188,701

$

456,632

TOTAL

INVESTMENT

COMPANIES

$

537,106

Total

Investments

$

537,106

Other

Assets

and

Liabilities

- (0.03)%

(135)

TOTAL

NET

ASSETS

-

100.00%

$

536,971

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

315,233

$

36,486

$

89,620

$

267,931

International

Equity

Index

Fund

43,356

1,492

16,446

37,746

LargeCap

S&P

500

Index

Account

215,573

50,793

70,264

188,701

MidCap

S&P

Index

Fund

24,252

2,916

6,986

21,366

SmallCap

S&P

600

Index

Fund

23,979

4,201

7,652

21,362

$

622,393

$

95,888

$

190,968

$

537,106

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

11,351

$

(3,617)

$

—

$

9,449

International

Equity

Index

Fund

—

3,823

—

5,521

LargeCap

S&P

500

Index

Account

2,879

31,543

31,060

(38,944)

MidCap

S&P

Index

Fund

—

—

759

SmallCap

S&P

600

Index

Fund

—

574

—

$

14,230

$

32,748

$

31,060

$

(22,955)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Balanced

Adaptive

Allocation

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.10

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.19

%

iShares

Core

S&P

500

ETF

67,036

$

44,867

Money

Market

Funds

-

.00

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

—

Principal

Funds,

Inc.

Class

-

.94

%

International

Equity

Index

Fund

(a) 1,130,822

15,628

MidCap

S&P

Index

Fund

(a) 379,876

8,798

SmallCap

S&P

600

Index

Fund

(a) 328,194

8,783

$

33,209

Principal

Variable

Contracts

Funds,

Inc. Class

-

.97

%

Bond

Market

Index

Account

(a) 11,838,664

110,928

LargeCap

S&P

500

Index

Account

(a) 1,413,981

33,483

$

144,411

TOTAL

INVESTMENT

COMPANIES

$

222,487

Total

Investments

$

222,487

Other

Assets

and

Liabilities

- (0.10)%

(229)

TOTAL

NET

ASSETS

-

100.00%

$

222,258

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

119,015

$

11,892

$

22,106

$

110,928

International

Equity

Index

Fund

16,471

597

5,118

15,628

LargeCap

S&P

500

Index

Account

34,886

8,305

8,297

33,483

MidCap

S&P

Index

Fund

9,156

913

1,752

8,798

Principal

Government

Money

Market

Fund

-

Class

4.04%

66,722

66,724

—

SmallCap

S&P

600

Index

Fund

8,971

1,542

2,073

8,783

$

188,501

$

89,971

$

106,070

$

177,620

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

4,641

$

$

—

$

2,072

International

Equity

Index

Fund

—

—

3,316

LargeCap

S&P

500

Index

Account

504

1,379

5,439

(2,790)

MidCap

S&P

Index

Fund

—

—

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

5,477

$

1,810

$

5,439

$

3,408

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Balanced

Strategic

Allocation

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.99

%

International

Equity

Index

Fund

(a) 476,593

$

6,586

MidCap

S&P

Index

Fund

(a) 160,976

3,728

SmallCap

S&P

600

Index

Fund

(a) 139,295

3,728

$

14,042

Principal

Variable

Contracts

Funds,

Inc. Class

-

.04

%

Bond

Market

Index

Account

(a) 4,989,450

46,751

LargeCap

S&P

500

Managed

Volatility

Index

Account

(a) 2,160,951

32,890

$

79,641

TOTAL

INVESTMENT

COMPANIES

$

93,683

Total

Investments

$

93,683

Other

Assets

and

Liabilities

- (0.03)%

(29)

TOTAL

NET

ASSETS

-

100.00%

$

93,654

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

56,979

$

6,544

$

17,841

$

46,751

International

Equity

Index

Fund

7,838

3,226

6,586

LargeCap

S&P

500

Managed

Volatility

Index

Account

39,029

10,490

13,645

32,890

MidCap

S&P

Index

Fund

4,385

589

1,447

3,728

SmallCap

S&P

600

Index

Fund

4,336

819

1,558

3,728

$

112,567

$

18,755

$

37,717

$

93,683

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

1,954

$

(1,127)

$

—

$

2,196

International

Equity

Index

Fund

—

641

—

1,020

LargeCap

S&P

500

Managed

Volatility

Index

Account

515

3,894

7,082

(6,878)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

2,469

$

3,466

$

7,082

$

(3,388)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.98

%

International

Equity

Index

Fund

(a) 14,381,106

$

198,747

MidCap

S&P

Index

Fund

(a) 4,250,153

98,434

SmallCap

S&P

600

Index

Fund

(a) 3,677,695

98,415

$

395,596

Principal

Variable

Contracts

Funds,

Inc. Class

-

.05

%

Bond

Market

Index

Account

(a) 73,773,230

691,255

LargeCap

S&P

500

Index

Account

(a) 37,762,887

894,225

$

1,585,480

TOTAL

INVESTMENT

COMPANIES

$

1,981,076

Total

Investments

$

1,981,076

Other

Assets

and

Liabilities

- (0.03)%

(509)

TOTAL

NET

ASSETS

-

100.00%

$

1,980,567

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

848,673

$

110,196

$

283,391

$

691,255

International

Equity

Index

Fund

238,204

7,664

97,066

198,747

LargeCap

S&P

500

Index

Account

1,065,904

222,829

358,910

894,225

MidCap

S&P

Index

Fund

116,588

11,596

35,057

98,434

SmallCap

S&P

600

Index

Fund

115,272

17,948

38,379

98,415

$

2,384,641

$

370,233

$

812,803

$

1,981,076

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

29,256

$

(11,884)

$

—

$

27,661

International

Equity

Index

Fund

—

19,387

—

30,558

LargeCap

S&P

500

Index

Account

13,630

167,989

147,039

(203,587)

MidCap

S&P

Index

Fund

—

2,885

—

2,422

SmallCap

S&P

600

Index

Fund

—

3,487

—

$

42,886

$

181,864

$

147,039

$

(142,859)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Adaptive

Allocation

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.11

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.22

%

iShares

Core

S&P

500

ETF

449,093

$

300,578

Money

Market

Funds

-

.00

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

2,527

Principal

Funds,

Inc.

Class

-

.89

%

International

Equity

Index

Fund

(a) 10,797,733

149,225

MidCap

S&P

Index

Fund

(a) 3,165,505

73,313

SmallCap

S&P

600

Index

Fund

(a) 2,738,349

73,278

$

295,816

Principal

Variable

Contracts

Funds,

Inc. Class

-

.00

%

Bond

Market

Index

Account

(a) 55,390,356

519,007

LargeCap

S&P

500

Index

Account

(a) 15,751,683

373,000

$

892,007

TOTAL

INVESTMENT

COMPANIES

$

1,488,404

Total

Investments

$

1,488,404

Other

Assets

and

Liabilities

- (0.11)%

(1,705)

TOTAL

NET

ASSETS

-

100.00%

$

1,486,699

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

551,294

$

62,236

$

104,378

$

519,007

International

Equity

Index

Fund

155,417

5,361

46,364

149,225

LargeCap

S&P

500

Index

Account

384,732

83,706

79,090

373,000

MidCap

S&P

Index

Fund

75,768

5,879

12,231

73,313

Principal

Government

Money

Market

Fund

-

Class

4.04%

488,622

488,621

SmallCap

S&P

600

Index

Fund

74,920

10,372

14,852

73,278

$

1,242,133

$

656,176

$

745,536

$

1,187,826

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

21,677

$

(3)

$

—

$

9,858

International

Equity

Index

Fund

—

1,928

—

32,883

LargeCap

S&P

500

Index

Account

5,611

10,654

60,529

(27,002)

MidCap

S&P

Index

Fund

—

—

3,876

Principal

Government

Money

Market

Fund

-

Class

4.04%

2,352

—

—

—

SmallCap

S&P

600

Index

Fund

—

—

2,783

$

29,640

$

12,655

$

60,529

$

22,398

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Growth

Strategic

Allocation

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.99

%

International

Equity

Index

Fund

(a) 1,547,583

$

21,387

MidCap

S&P

Index

Fund

(a) 457,372

10,593

SmallCap

S&P

600

Index

Fund

(a) 395,771

10,591

$

42,571

Principal

Variable

Contracts

Funds,

Inc. Class

-

.04

%

Bond

Market

Index

Account

(a) 7,938,828

74,387

LargeCap

S&P

500

Managed

Volatility

Index

Account

(a) 6,315,361

96,120

$

170,507

TOTAL

INVESTMENT

COMPANIES

$

213,078

Total

Investments

$

213,078

Other

Assets

and

Liabilities

- (0.03)%

(60)

TOTAL

NET

ASSETS

-

100.00%

$

213,018

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

86,573

$

11,618

$

25,416

$

74,387

International

Equity

Index

Fund

24,299

929

9,097

21,387

LargeCap

S&P

500

Managed

Volatility

Index

Account

108,896

28,460

32,238

96,120

MidCap

S&P

Index

Fund

11,893

1,392

3,263

10,593

SmallCap

S&P

600

Index

Fund

11,758

2,044

3,608

10,591

$

243,419

$

44,443

$

73,622

$

213,078

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

3,130

$

(1,394)

$

—

$

3,006

International

Equity

Index

Fund

—

1,637

—

3,619

LargeCap

S&P

500

Managed

Volatility

Index

Account

1,514

8,916

20,832

(17,914)

MidCap

S&P

Index

Fund

—

—

538

SmallCap

S&P

600

Index

Fund

—

—

$

4,644

$

9,194

$

20,832

$

(10,356)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

Income

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.99

%

International

Equity

Index

Fund

(a) 549,680

$

7,596

MidCap

S&P

Index

Fund

(a) 243,682

5,644

SmallCap

S&P

600

Index

Fund

(a) 210,860

5,643

$

18,883

Principal

Variable

Contracts

Funds,

Inc. Class

-

.04

%

Bond

Market

Index

Account

(a) 13,092,302

122,675

LargeCap

S&P

500

Index

Account

(a) 2,004,747

47,472

$

170,147

TOTAL

INVESTMENT

COMPANIES

$

189,030

Total

Investments

$

189,030

Other

Assets

and

Liabilities

- (0.03)%

(54)

TOTAL

NET

ASSETS

-

100.00%

$

188,976

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Account

$

140,681

$

17,750

$

38,274

$

122,675

International

Equity

Index

Fund

8,504

544

3,317

7,596

LargeCap

S&P

500

Index

Account

52,851

15,210

18,712

47,472

MidCap

S&P

Index

Fund

6,243

1,060

1,972

5,644

SmallCap

S&P

600

Index

Fund

6,173

1,381

2,131

5,643

$

214,452

$

35,945

$

64,406

$

189,030

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Account

$

5,180

$

(2,026)

$

—

$

4,544

International

Equity

Index

Fund

—

575

—

1,290

LargeCap

S&P

500

Index

Account

722

5,625

7,789

(7,502)

MidCap

S&P

Index

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

—

$

5,902

$

4,278

$

7,789

$

(1,239)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

International

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.99

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.99

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

662

$

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

5,864,916

5,865

$

5,866

TOTAL

INVESTMENT

COMPANIES

$

5,866

COMMON

STOCKS

-

.61

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.21

%

Airbus

SE

26,130

$

6,102

BAE

Systems

PLC

208,579

5,806

Thales

SA

1,674

529

$

12,437

Airlines

-

.62

%

Ryanair

Holdings

PLC

62,681

1,832

Apparel

-

.97

%

Hermes

International

SCA

PRADA

SpA

128,500

773

Samsonite

Group

SA

(d) 847,200

1,816

$

2,850

Automobile

Manufacturers

-

.84

%

Daimler

Truck

Holding

AG

63,501

2,626

Toyota

Motor

Corp

146,100

2,806

$

5,432

Banks

-

.82

%

AIB

Group

PLC

460,750

4,200

Credicorp

Ltd

9,324

2,483

DBS

Group

Holdings

Ltd

88,400

3,506

Erste

Group

Bank

AG

38,028

3,738

FinecoBank

Banca

Fineco

SpA

57,827

1,255

Grupo

Financiero

Banorte

SAB

de

CV

127,859

1,284

ICICI

Bank

Ltd

ADR

84,766

2,562

National

Bank

of

Greece

SA

280,453

4,084

NatWest

Group

PLC

355,845

2,513

Nordea

Bank

Abp

101,088

1,662

Piraeus

Financial

Holdings

SA

(e) 213,534

1,814

PT

Bank

Central

Asia

Tbk

2,146,200

983

Societe

Generale

SA

40,268

2,681

Swedbank

AB

43,157

1,303

UniCredit

SpA

49,669

3,780

$

37,848

Beverages

-

.84

%

Arca

Continental

SAB

de

CV

109,400

1,149

Kweichow

Moutai

Co

Ltd

6,498

1,319

$

2,468

Biotechnology

-

.06

%

Argenx

SE

(e) 4,016

2,967

Zai

Lab

Ltd

ADR

(e) 4,476

$

3,119

Building

Materials

-

.13

%

CRH

PLC

52,113

6,287

Commercial

Services

-

.60

%

Ashtead

Group

PLC

15,999

1,073

Elis

SA

22,034

636

Localiza

Rent

a

Car

SA

208,634

1,546

TOPPAN

Holdings

Inc

57,600

1,476

$

4,731

Computers

-

.56

%

Fujitsu

Ltd

196,200

4,602

Cosmetics

&

Personal

Care

-

.35

%

Haleon

PLC

774,059

3,484

L'Oreal

SA

5,135

2,231

Unilever

PLC

70,583

4,172

$

9,887

Distribution

&

Wholesale

-

.76

%

Rexel

SA

68,524

2,256

Electric

-

.55

%

Iberdrola

SA

85,630

1,621

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electronics

-

.65

%

Halma

PLC

22,680

$

1,056

Hoya

Corp

27,596

3,815

$

4,871

Engineering

&

Construction

-

.01

%

Kajima

Corp

63,700

1,857

Obayashi

Corp

97,200

1,595

Stantec

Inc

6,400

690

Technip

Energies

NV

38,135

1,800

$

5,942

Entertainment

-

.80

%

Entain

PLC

239,463

2,830

Universal

Music

Group

NV

86,144

2,489

$

5,319

Food

-

.55

%

Danone

SA

18,635

1,624

Food

Service

-

.50

%

Compass

Group

PLC

43,051

1,467

Forest

Products

&

Paper

-

.43

%

Suzano

SA

134,100

1,256

Healthcare

-

Products

-

.88

%

Alcon

AG

21,925

1,649

Smith

&

Nephew

PLC

215,709

3,912

$

5,561

Healthcare

-

Services

-

.14

%

ICON

PLC

(e) 19,279

3,374

Home

Furnishings

-

.31

%

Howden

Joinery

Group

PLC

79,611

906

Insurance

-

.42

%

AIA

Group

Ltd

849,000

8,137

ASR

Nederland

NV

21,753

1,480

AXA

SA

61,905

2,969

Fairfax

Financial

Holdings

Ltd

1,300

2,274

Hannover

Rueck

SE

10,827

3,267

Sompo

Holdings

Inc

104,400

3,228

Tryg

A/S

21,400

543

$

21,898

Internet

-

.07

%

MercadoLibre

Inc

(e) 720

1,682

Scout24

SE

(d) 11,954

1,500

Spotify

Technology

SA

(e) 4,123

2,878

Tencent

Holdings

Ltd

127,600

10,873

Trip.com

Group

Ltd

52,100

3,951

$

20,884

Machinery

-

Construction

&

Mining

-

.50

%

Komatsu

Ltd

50,600

1,763

Mitsubishi

Electric

Corp

138,900

3,567

Weir

Group

PLC/The

55,890

2,062

$

7,392

Machinery

-

Diversified

-

.65

%

Atlas

Copco

AB

-

A

Shares

154,876

2,627

Keyence

Corp

6,000

2,235

$

4,862

Media

-

.80

%

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(e) 22,718

2,373

Metal

Fabrication

&

Hardware

-

.31

%

APL

Apollo

Tubes

Ltd

47,760

907

Mining

-

.50

%

Impala

Platinum

Holdings

Ltd

103,850

1,324

Sandfire

Resources

Ltd

(e) 212,338

2,003

Teck

Resources

Ltd

92,500

4,058

$

7,385

Oil

&

Gas

-

.83

%

ARC

Resources

Ltd

73,300

1,337

Canadian

Natural

Resources

Ltd

45,100

1,442

Shell

PLC

87,269

3,110

Suncor

Energy

Inc

125,500

5,252

Schedule

of

Investments

Diversified

International

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

(continued)

Tourmaline

Oil

Corp

4,100

$

$

11,318

Packaging

&

Containers

-

.33

%

Toyo

Seikan

Group

Holdings

Ltd

42,600

972

Pharmaceuticals

-

.93

%

Ascendis

Pharma

A/S

ADR

(e) 7,018

1,395

AstraZeneca

PLC

49,018

7,510

Novo

Nordisk

A/S

14,356

799

Roche

Holding

AG

Sanofi

SA

49,948

4,730

$

14,559

Pipelines

-

.36

%

Gaztransport

Et

Technigaz

SA

5,795

1,076

Private

Equity

-

.51

%

3i

Group

PLC

62,667

3,454

Brookfield

Corp

36,269

2,489

CVC

Capital

Partners

PLC

(d) 42,763

747

ICG

PLC

24,346

731

$

7,421

Retail

-

.97

%

Cie

Financiere

Richemont

SA

10,094

1,938

CP

ALL

PCL

617,400

900

Dollarama

Inc

15,700

2,071

Industria

de

Diseno

Textil

SA

25,865

1,431

Jumbo

SA

24,776

850

Yum

China

Holdings

Inc

103,176

4,515

$

11,705

Semiconductors

-

.68

%

ASML

Holding

NV

8,440

8,231

Samsung

Electronics

Co

Ltd

121,221

7,267

Taiwan

Semiconductor

Manufacturing

Co

Ltd

301,140

13,081

$

28,579

Software

-

.74

%

Dassault

Systemes

SE

39,918

1,343

Nemetschek

SE

20,560

2,683

Sage

Group

PLC/The

74,290

1,102

$

5,128

Telecommunications

-

.76

%

Deutsche

Telekom

AG

239,559

8,162

Toys,

Games

&

Hobbies

-

.67

%

Nintendo

Co

Ltd

56,900

4,923

TOTAL

COMMON

STOCKS

$

285,234

Total

Investments

$

291,100

Other

Assets

and

Liabilities

- 1.40%

4,123

TOTAL

NET

ASSETS

-

100.00%

$

295,223

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1

or

0.00%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,063

or

1.38%

of

net

assets.

(e) Non-income

producing

security

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

2,079

$

55,167

$

51,381

$

5,865

$

2,079

$

55,167

$

51,381

$

5,865

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Equity

Income

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.52

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.52

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

295,290

$

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b),(c)

10,788,021

10,788

$

11,083

TOTAL

INVESTMENT

COMPANIES

$

11,083

COMMON

STOCKS

-

.03

%

Shares

Held

Value

(000's)

Advertising

-

.58

%

Omnicom

Group

Inc

119,323

$

9,729

Publicis

Groupe

SA

ADR

75,222

1,814

$

11,543

Automobile

Manufacturers

-

.51

%

Cummins

Inc

43,608

18,419

PACCAR

Inc

146,704

14,424

$

32,843

Banks

-

.91

%

Bank

of

America

Corp

366,019

18,883

Citigroup

Inc

87,656

8,897

JPMorgan

Chase

&

Co

76,913

24,261

Morgan

Stanley

149,215

23,719

PNC

Financial

Services

Group

Inc/The

91,125

18,310

$

94,070

Beverages

-

.93

%

Coca-Cola

Co/The

212,093

14,066

Biotechnology

-

.80

%

Corteva

Inc

194,324

13,142

Building

Materials

-

.20

%

Carrier

Global

Corp

96,971

5,789

Trane

Technologies

PLC

41,463

17,496

$

23,285

Chemicals

-

.81

%

Air

Products

and

Chemicals

Inc

21,755

5,933

Computers

-

.09

%

Apple

Inc

59,782

15,222

Cosmetics

&

Personal

Care

-

.83

%

Procter

&

Gamble

Co/The

86,731

13,326

Diversified

Financial

Services

-

.15

%

Blackrock

Inc

14,273

16,640

Nasdaq

Inc

71,538

6,328

$

22,968

Electric

-

.00

%

NextEra

Energy

Inc

168,124

12,692

Sempra

69,326

6,238

WEC

Energy

Group

Inc

68,630

7,864

Xcel

Energy

Inc

119,170

9,611

$

36,405

Food

-

.93

%

Hershey

Co/The

36,154

6,763

Healthcare

-

Products

-

.12

%

Abbott

Laboratories

98,551

13,200

STERIS

PLC

38,515

9,530

$

22,730

Healthcare

-

Services

-

.05

%

HCA

Healthcare

Inc

30,443

12,975

UnitedHealth

Group

Inc

26,871

9,278

$

22,253

Home

Builders

-

.72

%

DR

Horton

Inc

116,853

19,803

Insurance

-

.53

%

Chubb

Ltd

58,143

16,411

Fidelity

National

Financial

Inc

154,451

9,343

$

25,754

Internet

-

.52

%

Alphabet

Inc

-

A

Shares

75,487

18,351

Iron

&

Steel

-

.34

%

Reliance

Inc

34,724

9,752

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Lodging

-

.29

%

Hilton

Worldwide

Holdings

Inc

64,347

$

16,694

Machinery

-

Diversified

-

.87

%

Deere

&

Co

29,757

13,607

Media

-

.10

%

Comcast

Corp

-

Class

A

255,355

8,023

Miscellaneous

Manufacturers

-

.42

%

Parker-Hannifin

Corp

23,263

17,637

Oil

&

Gas

-

.38

%

Chevron

Corp

46,995

7,298

EOG

Resources

Inc

88,088

9,876

Marathon

Petroleum

Corp

76,541

14,753

$

31,927

Pharmaceuticals

-

.77

%

AstraZeneca

PLC

ADR

84,908

6,514

Eli

Lilly

&

Co

7,416

5,658

Merck

&

Co

Inc

144,967

12,167

Novartis

AG

ADR

107,126

13,738

Roche

Holding

AG

ADR

(d) 95,782

4,005

$

42,082

Pipelines

-

.52

%

Enterprise

Products

Partners

LP

354,511

11,086

Private

Equity

-

.78

%

KKR

&

Co

Inc

155,670

20,229

REITs

-

.76

%

Alexandria

Real

Estate

Equities

Inc

109,419

9,119

Equity

LifeStyle

Properties

Inc

128,953

7,828

Prologis

Inc

52,124

5,969

Realty

Income

Corp

74,012

4,499

$

27,415

Retail

-

.86

%

Costco

Wholesale

Corp

19,926

18,444

Starbucks

Corp

128,426

10,865

Williams-Sonoma

Inc

31,230

6,104

$

35,413

Semiconductors

-

.76

%

Broadcom

Inc

31,517

10,398

Monolithic

Power

Systems

Inc

7,906

7,278

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

60,926

17,016

$

34,692

Software

-

.99

%

Fidelity

National

Information

Services

Inc

44,149

2,911

Microsoft

Corp

23,366

12,103

Salesforce

Inc

28,634

6,786

SAP

SE

ADR

27,317

7,299

$

29,099

Telecommunications

-

.27

%

T-Mobile

US

Inc

69,122

16,546

Transportation

-

.24

%

Expeditors

International

of

Washington

Inc

73,426

9,001

TOTAL

COMMON

STOCKS

$

721,660

Total

Investments

$

732,743

Other

Assets

and

Liabilities

- (0.55)%

(3,988)

TOTAL

NET

ASSETS

-

100.00%

$

728,755

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,885

or

0.53%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,965

or

0.54%

of

net

assets.

Schedule

of

Investments

Equity

Income

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

11,384

$

157,855

$

158,451

$

10,788

$

11,384

$

157,855

$

158,451

$

10,788

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Global

Emerging

Markets

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.97

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.97

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

785,991

$

786

TOTAL

INVESTMENT

COMPANIES

$

786

COMMON

STOCKS

-

.60

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.48

%

Korea

Aerospace

Industries

Ltd

11,055

$

854

LIG

Nex1

Co

Ltd

934

$

1,197

Automobile

Manufacturers

-

.49

%

BYD

Co

Ltd

55,500

784

Geely

Automobile

Holdings

Ltd

298,000

747

Mahindra

&

Mahindra

Ltd

12,718

$

2,022

Automobile

Parts

&

Equipment

-

.87

%

Hyundai

Mobis

Co

Ltd

2,719

579

Weichai

Power

Co

Ltd

69,000

$

702

Banks

-

.47

%

Banco

del

Bajio

SA

(c) 129,276

Bank

Rakyat

Indonesia

Persero

Tbk

PT

2,421,676

568

Credicorp

Ltd

1,689

Grupo

Financiero

Banorte

SAB

de

CV

55,700

559

HDFC

Bank

Ltd

111,286

1,193

ICICI

Bank

Ltd

85,684

1,299

IDFC

First

Bank

Ltd

948,798

745

Kotak

Mahindra

Bank

Ltd

36,741

824

National

Bank

of

Greece

SA

96,447

1,404

Piraeus

Financial

Holdings

SA

(d) 114,172

970

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

48,887

950

PT

Bank

Central

Asia

Tbk

1,802,400

825

Saudi

National

Bank/The

96,978

1,013

Vietnam

Technological

&

Commercial

Joint

Stock

Bank

426,900

611

$

11,737

Beverages

-

.77

%

Arca

Continental

SAB

de

CV

23,800

Varun

Beverages

Ltd

74,603

$

623

Biotechnology

-

.24

%

BeOne

Medicines

Ltd

(d) 20,500

547

Zai

Lab

Ltd

(d) 133,450

$

1,004

Building

Materials

-

.88

%

Cemex

SAB

de

CV

655,214

589

JSW

Cement

Ltd

(c),(d)

114,140

UltraTech

Cement

Ltd

2,173

Voltas

Ltd

30,322

$

1,528

Chemicals

-

.32

%

Orbia

Advance

Corp

SAB

de

CV

265,000

Commercial

Services

-

.69

%

GPS

Participacoes

e

Empreendimentos

SA

(c) 72,630

Humansoft

Holding

Co

KSC

13,552

JSW

Infrastructure

Ltd

281,705

1,001

$

1,369

Computers

-

.02

%

Elm

Co

1,551

Globant

SA

(d) 3,312

WNS

Holdings

Ltd

(d) 3,517

$

829

Diversified

Financial

Services

-

.22

%

Bajaj

Finance

Ltd

48,320

544

Banco

BTG

Pactual

SA

37,512

Intercorp

Financial

Services

Inc

9,031

KB

Financial

Group

Inc

6,646

549

$

1,797

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electric

-

.91

%

Adani

Energy

Solutions

Ltd

(d) 67,504

$

664

Emirates

Central

Cooling

Systems

Corp

172,406

$

740

Electrical

Components

&

Equipment

-

.29

%

Delta

Electronics

Inc

66,000

1,859

Electronics

-

.44

%

Avalon

Technologies

Ltd

(c),(d)

19,532

E

Ink

Holdings

Inc

85,000

675

Voltronic

Power

Technology

Corp

9,000

$

1,172

Engineering

&

Construction

-

.26

%

Cury

Construtora

e

Incorporadora

SA

84,800

551

L&T

Technology

Services

Ltd

(c) 4,247

Samsung

E&A

Co

Ltd

14,419

$

1,023

Food

-

.68

%

Bid

Corp

Ltd

19,399

Gruma

SAB

de

CV

13,304

Indofood

Sukses

Makmur

Tbk

PT

498,600

LT

Foods

Ltd

57,806

SM

Investments

Corp

5,155

WH

Group

Ltd

(c) 828,000

897

$

2,175

Forest

Products

&

Paper

-

.03

%

Suzano

SA

89,000

834

Healthcare

-

Products

-

.56

%

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co

Ltd

55,500

Pegavision

Corp

8,000

Universal

Vision

Biotechnology

Co

Ltd

13,000

$

Healthcare

-

Services

-

.45

%

Bangkok

Dusit

Medical

Services

PCL

305,000

Hygeia

Healthcare

Holdings

Co

Ltd

(c),(d)

92,600

$

Home

Furnishings

-

.46

%

Anker

Innovations

Technology

Co

Ltd

21,696

Insurance

-

.59

%

AIA

Group

Ltd

151,200

1,449

China

Pacific

Insurance

Group

Co

Ltd

179,000

711

Max

Financial

Services

Ltd

(d) 24,673

PICC

Property

&

Casualty

Co

Ltd

140,000

$

2,914

Internet

-

.46

%

Alibaba

Group

Holding

Ltd

204,092

4,564

Grab

Holdings

Ltd

(d) 149,466

900

JD.com

Inc

37,750

661

Meituan

(c),(d)

43,820

585

MercadoLibre

Inc

(d) 494

1,155

Tencent

Holdings

Ltd

68,400

5,828

Trip.com

Group

Ltd

6,113

$

14,157

Iron

&

Steel

-

.12

%

Severstal

PAO

(d) 9,865

—

Ternium

SA

ADR

2,835

$

Leisure

Products

&

Services

-

.84

%

Bajaj

Auto

Ltd

4,627

Yadea

Group

Holdings

Ltd

(c) 128,000

$

680

Lodging

-

.07

%

Atour

Lifestyle

Holdings

Ltd

ADR

23,115

869

Machinery

-

Diversified

-

.41

%

WEG

SA

48,600

Metal

Fabrication

&

Hardware

-

.50

%

APL

Apollo

Tubes

Ltd

21,340

Schedule

of

Investments

Global

Emerging

Markets

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Mining

-

.44

%

Anglogold

Ashanti

Plc

7,720

$

539

Capstone

Copper

Corp

(d) 54,200

Impala

Platinum

Holdings

Ltd

95,455

1,217

Ivanhoe

Mines

Ltd

(d) 29,100

Polyus

PJSC

(d) 1,080

—

Shandong

Gold

Mining

Co

Ltd

(c) 56,000

$

2,790

Miscellaneous

Manufacturers

-

.65

%

Escorts

Kubota

Ltd

8,817

Zhuzhou

CRRC

Times

Electric

Co

Ltd

33,600

$

527

Oil

&

Gas

-

.43

%

ADNOC

Drilling

Co

PJSC

133,824

HD

Hyundai

Co

Ltd

2,021

PRIO

SA/Brazil

(d) 12,800

Reliance

Industries

Ltd

32,854

505

Saudi

Arabian

Oil

Co

(c) 19,800

$

1,156

Pharmaceuticals

-

.33

%

Caplin

Point

Laboratories

Ltd

14,728

Hansoh

Pharmaceutical

Group

Co

Ltd

(c) 104,000

Richter

Gedeon

Nyrt

3,919

Simcere

Pharmaceutical

Group

Ltd

(c) 91,000

$

1,076

Pipelines

-

.25

%

Gaztransport

Et

Technigaz

SA

1,101

Real

Estate

-

.62

%

China

Resources

Land

Ltd

87,500

Sun

Hung

Kai

Properties

Ltd

13,500

$

503

Retail

-

.22

%

CP

ALL

PCL

268,700

El

Puerto

de

Liverpool

SAB

de

CV

22,011

Jumbo

SA

6,026

Yum

China

Holdings

Inc

6,350

$

987

Semiconductors

-

.36

%

Alchip

Technologies

Ltd

3,000

ASE

Technology

Holding

Co

Ltd

49,000

ASML

Holding

NV

-

NY

Reg

Shares

ASPEED

Technology

Inc

1,000

MediaTek

Inc

22,000

954

Samsung

Electronics

Co

Ltd

51,090

3,063

SK

Hynix

Inc

6,604

1,637

Taiwan

Semiconductor

Manufacturing

Co

Ltd

245,164

10,649

$

17,321

Software

-

.42

%

NetEase

Inc

37,900

1,151

Telecommunications

-

.55

%

Accton

Technology

Corp

26,000

899

Xiaomi

Corp

(c),(d)

168,200

1,169

$

2,068

Textiles

-

.14

%

SLC

Agricola

SA

37,556

Transportation

-

.33

%

Blue

Dart

Express

Ltd

836

JD

Logistics

Inc

(c),(d)

127,400

$

Water

-

.34

%

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

SABESP

11,100

TOTAL

COMMON

STOCKS

$

79,958

PREFERRED

STOCKS

-

.82

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

.31

%

Hyundai

Motor

Co

13,100.00%

2,130

$

PREFERRED

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

-

.51

%

Petroleo

Brasileiro

SA

-

Petrobras

0.80%

70,100

$

TOTAL

PREFERRED

STOCKS

$

666

Total

Investments

$

81,410

Other

Assets

and

Liabilities

- (0.39)%

(316)

TOTAL

NET

ASSETS

-

100.00%

$

81,094

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$5,468

or

6.74%

of

net

assets.

(d) Non-income

producing

security

Schedule

of

Investments

Global

Emerging

Markets

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

854

$

14,166

$

14,234

$

786

$

854

$

14,166

$

14,234

$

786

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.53

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.53

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

584,809

$

585

TOTAL

INVESTMENT

COMPANIES

$

585

BONDS

-

.47

%

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

.32

%

AmeriCredit

Automobile

Receivables

Trust

2024-1

4.99%,

02/18/2028

$

$

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

5.75%,

02/18/2028

BMW

Vehicle

Owner

Trust

2024-A

5.42%,

02/25/2027

BofA

Auto

Trust

2024-1

5.57%,

12/15/2026

(c) 37

BofA

Auto

Trust

2025-1

4.94%,

11/22/2027

(c) 350

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.55%

Carmax

Auto

Owner

Trust

2024-3

5.21%,

09/15/2027

Drive

Auto

Receivables

Trust

2025-1

4.87%,

08/15/2028

726

728

GM

Financial

Automobile

Leasing

Trust

2024-3

4.86%,

01/20/2027

643

644

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

0.47%

Mercedes-Benz

Auto

Lease

Trust

2024-A

5.44%,

02/16/2027

Santander

Drive

Auto

Receivables

Trust

2024-1

5.25%,

04/17/2028

Santander

Drive

Auto

Receivables

Trust

2024-4

5.41%,

07/15/2027

Santander

Drive

Auto

Receivables

Trust

2025-1

4.76%,

08/16/2027

Santander

Drive

Auto

Receivables

Trust

2025-2

4.71%,

06/15/2028

739

740

Santander

Drive

Auto

Receivables

Trust

2025-3

4.63%,

10/16/2028

1,195

1,199

SBNA

Auto

Lease

Trust

2024-B

5.67%,

11/20/2026

(c) 33

Tesla

Electric

Vehicle

Trust

2023-1

5.54%,

12/21/2026

(c) 85

Wheels

Fleet

Lease

Funding

LLC

4.99%,

01/18/2040

(c) 1,215

1,218

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.67%

$

6,970

Credit

Card

Asset

Backed

Securities

-

.00

%

BA

Credit

Card

Trust

5.00%,

04/15/2028

1,050

1,051

Citibank

Credit

Card

Issuance

Trust

5.23%,

12/08/2027

750

751

Discover

Card

Execution

Note

Trust

4.31%,

03/15/2028

1,365

1,367

5.03%,

10/15/2027

1,250

1,250

$

4,419

Mortgage

Backed

Securities

-

.15

%

Chase

Home

Lending

Mortgage

Trust

2025-8

5.50%,

06/25/2056

(c),(d)

1,431

1,436

EverBank

Mortgage

Loan

Trust

18-1

3.50%,

02/25/2048

(c),(d)

Fannie

Mae

Grantor

Trust

2005-T1

4.62%,

05/25/2035

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.46%

Fannie

Mae

Interest

Strip

3.50%,

12/25/2043

(d),(e)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Fannie

Mae

REMICS

1.53%,

10/25/2049

(e) $

1,866

$

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

1.53%,

05/25/2050

(e) 1,986

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

1.58%,

08/25/2049

(e) 2,910

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.58%,

09/25/2049

(e) 829

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.58%,

11/25/2049

(e) 1,388

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.60%,

06/25/2050

(e) 1,325

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.96%

1.68%,

09/25/2047

(e) 2,613

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

1.70%,

06/25/2045

(e) 797

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.00%

2.23%,

12/25/2042

(e) 996

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.59%

3.00%,

10/25/2040

(e) 118

3.00%,

04/25/2042

3.00%,

05/25/2048

3.00%,

01/25/2051

(e) 1,557

7.00%,

04/25/2032

Freddie

Mac

REMICS

1.50%,

04/15/2028

1.58%,

09/25/2049

(e) 2,482

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.58%,

10/25/2049

(e) 2,137

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.58%,

11/25/2049

(e) 891

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

1.63%,

05/15/2038

(e) 624

1.00 x

Month

Treasury

Average

Index

+

0.00%

3.00%,

04/15/2046

Ginnie

Mae

1.85%,

06/20/2046

(e) 247

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

1.85%,

08/20/2047

(e) 1,644

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.99%

1.86%,

09/20/2050

(e) 1,119

(1.00)

x

Day

Average

Secured

Overnight

Financing

Rate

+

6.25%

1.89%,

12/20/2043

(e) 550

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.03%

1.95%,

10/20/2045

(e) 669

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Ginnie

Mae

(continued)

1.95%,

11/20/2047

(e) $

$

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.09%

2.05%,

08/20/2050

(e) 1,781

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.05%,

11/20/2050

(e) 1,111

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.05%,

07/20/2051

(e) 1,170

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

2.05%,

08/20/2051

(e) 1,445

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.19%

3.00%,

07/20/2050

(e) 889

3.00%,

11/20/2050

(e) 1,630

3.00%,

11/20/2050

(e) 2,487

3.00%,

12/20/2050

(e) 1,027

3.50%,

10/20/2049

(e) 1,471

4.00%,

02/20/2044

(e) 358

4.00%,

04/20/2044

(e) 297

4.00%,

01/20/2046

(e) 134

JP

Morgan

Mortgage

Trust

2016-4

3.50%,

10/25/2046

(c),(d)

JP

Morgan

Mortgage

Trust

2017-3

3.79%,

08/25/2047

(c),(d)

JP

Morgan

Mortgage

Trust

2023-10

6.00%,

05/25/2054

(c),(d)

789

792

JP

Morgan

Mortgage

Trust

2023-8

6.00%,

02/25/2054

(c),(d)

1,246

1,259

JP

Morgan

Mortgage

Trust

2024-1

6.00%,

06/25/2054

(c),(d)

New

Residential

Mortgage

Loan

Trust

2014-1

5.00%,

01/25/2054

(c),(d)

591

589

New

Residential

Mortgage

Loan

Trust

2015-2

5.28%,

08/25/2055

(c),(d)

Sequoia

Mortgage

Trust

2013-2

3.64%,

02/25/2043

(d) 60

Sequoia

Mortgage

Trust

2017-3

3.76%,

04/25/2047

(c),(d)

Sequoia

Mortgage

Trust

2023-4

6.00%,

11/25/2053

(c),(d)

732

734

Sequoia

Mortgage

Trust

2024-1

5.88%,

01/25/2054

(c),(d)

Sequoia

Mortgage

Trust

2024-5

6.00%,

06/25/2054

(c),(d)

$

13,410

TOTAL

BONDS

$

24,799

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.84

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.32

%

3.00%,

05/01/2043

$

$

3.00%,

10/01/2046

3.50%,

02/01/2044

4.00%,

01/01/2043

4.00%,

06/01/2043

4.00%,

10/01/2045

4.50%,

11/01/2043

5.00%,

02/01/2033

5.00%,

06/01/2033

5.00%,

01/01/2034

5.00%,

07/01/2035

5.00%,

07/01/2035

5.00%,

07/01/2035

5.00%,

10/01/2035

5.50%,

03/01/2033

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

5.50%,

04/01/2038

$

$

5.50%,

05/01/2038

6.00%,

05/01/2031

6.00%,

12/01/2031

6.00%,

11/01/2033

6.00%,

09/01/2034

6.00%,

02/01/2035

6.00%,

10/01/2036

6.00%,

03/01/2037

6.00%,

01/01/2038

6.00%,

04/01/2038

6.35%,

09/01/2032

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.23%

6.50%,

10/01/2028

6.50%,

11/01/2028

6.50%,

12/01/2028

6.50%,

07/01/2031

6.50%,

08/01/2031

6.50%,

10/01/2031

6.50%,

10/01/2031

6.50%,

12/01/2031

6.50%,

02/01/2032

6.50%,

05/01/2032

7.00%,

01/01/2028

7.00%,

04/01/2028

7.00%,

10/01/2031

7.00%,

10/01/2031

7.00%,

04/01/2032

7.50%,

10/01/2030

7.50%,

02/01/2031

8.00%,

10/01/2030

8.50%,

07/01/2029

$

2,556

Federal

National

Mortgage

Association

(FNMA)

-

.11

%

5.50%,

05/01/2033

6.00%,

05/01/2037

6.30%,

12/01/2033

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.70%

6.50%,

11/01/2032

6.52%,

12/01/2032

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.64%

7.00%,

08/01/2028

7.00%,

12/01/2028

$

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.95

%

2.00%,

10/01/2050

676

552

2.00%,

11/01/2051

1,510

1,237

2.00%,

11/01/2051

1,187

962

2.00%,

12/01/2051

2,315

1,898

2.00%,

12/01/2051

2,315

1,892

2.00%,

01/01/2052

1,874

1,539

2.00%,

01/01/2052

1,529

1,249

2.00%,

03/01/2052

1,587

1,290

2.50%,

02/01/2051

2,169

1,867

2.50%,

07/01/2051

2,824

2,420

2.50%,

12/01/2051

1,895

1,644

2.50%,

04/01/2052

3,972

3,436

3.00%,

10/01/2042

598

550

3.00%,

10/01/2046

3.00%,

11/01/2046

784

708

3.00%,

01/01/2050

776

689

3.00%,

08/01/2050

558

3.00%,

09/01/2050

916

814

3.00%,

06/01/2052

1,562

1,387

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

11/01/2042

$

$

3.50%,

02/01/2043

3.50%,

03/01/2045

3.50%,

11/01/2048

874

822

3.50%,

08/01/2050

731

682

3.50%,

04/01/2052

1,132

1,041

4.00%,

02/01/2041

4.00%,

08/01/2044

4.00%,

10/01/2044

574

557

4.00%,

11/01/2044

4.00%,

08/01/2045

4.00%,

08/01/2046

503

4.00%,

07/01/2047

4.00%,

07/01/2052

4.50%,

08/01/2039

520

523

4.50%,

10/01/2043

4.50%,

09/01/2045

4.50%,

10/01/2045

4.50%,

11/01/2045

549

547

4.50%,

08/01/2052

793

775

4.50%,

10/01/2052

713

695

4.50%,

01/01/2054

756

740

5.00%,

05/01/2033

5.00%,

04/01/2035

5.00%,

04/01/2035

5.00%,

07/01/2035

5.00%,

02/01/2038

5.00%,

02/01/2040

5.00%,

07/01/2041

5.00%,

09/01/2052

737

740

5.00%,

04/01/2053

1,630

1,626

5.00%,

04/01/2053

1,809

1,802

5.00%,

06/01/2053

1,940

1,932

5.00%,

11/01/2054

925

925

5.00%,

11/01/2054

791

785

5.00%,

01/01/2055

675

674

5.00%,

02/01/2055

5.50%,

06/01/2033

5.50%,

03/01/2038

5.50%,

07/01/2053

875

891

5.50%,

11/01/2053

863

881

5.50%,

11/01/2053

1,037

1,055

5.50%,

03/01/2054

691

701

5.50%,

05/01/2054

791

804

5.50%,

10/01/2054

1,243

1,266

5.50%,

02/01/2055

1,677

1,705

5.50%,

04/01/2055

735

746

5.50%,

06/01/2055

5.50%,

08/01/2055

806

816

5.50%,

10/01/2055

(f) 1,000

1,008

6.00%,

11/01/2028

6.00%,

12/01/2031

6.00%,

01/01/2033

6.00%,

07/01/2037

6.00%,

11/01/2037

6.00%,

12/01/2037

6.00%,

03/01/2038

6.00%,

04/01/2054

822

852

6.00%,

05/01/2054

788

814

6.00%,

06/01/2054

581

601

6.00%,

09/01/2054

570

590

6.00%,

09/01/2054

973

1,003

6.00%,

11/01/2054

963

994

6.50%,

03/01/2029

6.50%,

06/01/2031

6.50%,

08/01/2032

6.50%,

02/01/2033

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

6.50%,

12/01/2036

$

$

6.50%,

07/01/2037

6.50%,

02/01/2038

6.50%,

10/01/2053

752

783

6.50%,

05/01/2054

585

612

6.50%,

04/01/2055

512

7.00%,

10/01/2029

7.00%,

05/01/2031

7.00%,

11/01/2031

$

62,865

Government

National

Mortgage

Association

(GNMA)

-

.27

%

2.00%,

01/20/2051

1,263

1,045

2.00%,

02/20/2051

2.50%,

06/20/2050

1,969

1,697

3.00%,

02/20/2047

3.50%,

06/20/2043

3.50%,

06/20/2046

4.00%,

07/20/2047

4.00%,

04/20/2052

713

676

4.50%,

07/15/2040

4.50%,

08/20/2048

816

807

4.50%,

05/20/2052

946

925

4.50%,

06/20/2053

523

510

4.50%,

10/20/2055

(f) 1,500

1,454

5.00%,

12/20/2052

2,066

2,070

5.00%,

05/20/2053

977

975

5.00%,

09/20/2053

821

818

5.00%,

10/20/2053

830

830

5.00%,

02/20/2054

5.50%,

11/15/2033

5.50%,

05/20/2035

5.50%,

08/20/2053

710

719

5.50%,

04/20/2054

1,488

1,503

5.50%,

10/20/2055

(f) 5,450

5,491

6.00%,

06/20/2028

6.00%,

07/20/2028

6.00%,

02/20/2029

6.00%,

03/20/2029

6.00%,

07/20/2029

6.00%,

07/20/2033

6.00%,

04/20/2054

986

1,006

6.50%,

03/20/2031

6.50%,

04/20/2031

7.00%,

01/15/2028

7.00%,

03/15/2028

7.00%,

01/15/2029

7.00%,

03/15/2029

7.00%,

05/15/2031

7.00%,

09/15/2031

7.00%,

06/15/2032

$

22,370

U.S.

Treasury

-

.79

%

3.50%,

04/30/2030

2,000

1,981

U.S.

Treasury

Bill

-

.40

%

4.22%,

10/16/2025

(g) 2,650

2,646

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

92,543

Total

Investments

$

117,927

Other

Assets

and

Liabilities

- (6.84)%

(7,550)

TOTAL

NET

ASSETS

-

100.00%

$

110,377

Schedule

of

Investments

Government

&

High

Quality

Bond

Account

September

30,

2025

(unaudited)

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,095

or

8.24%

of

net

assets.

(d) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(e) Security

is

an

Interest

Only

Strip.

(f) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(g) Rate

shown

is

the

discount

rate

of

the

original

purchase.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

2,761

$

40,921

$

43,097

$

585

$

2,761

$

40,921

$

43,097

$

585

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury

Note;

December

2025

Long

$

1,800

$

(16)

US

Year

Treasury

Note;

December

2025

Short

5,627

(3)

US

Year

Treasury Note;

December

2025

Short

3,494

—

US

Long

Bond;

December

2025

Long

2,099

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

Growth

Account

I

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.58

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.12

%

iShares

Russell

1000

Growth

ETF

1,600

$

749

Money

Market

Funds

-

.46

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

56,717

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

15,482,205

15,482

$

15,539

TOTAL

INVESTMENT

COMPANIES

$

16,288

CONVERTIBLE

PREFERRED

STOCKS

-

.10

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

.04

%

Waymo

LLC

Series

0.00%

(d),(e),(f)

2,489

$

Chemicals

-

.01

%

Sila

Nano

Series

F

0.00%

(d),(e),(f)

4,929

Software

-

.05

%

Nuro

-

Series

C

0.00%

(d),(e),(f)

17,442

Rappi

Inc

-

Series

E

0.00%

(d),(e),(f)

5,133

$

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

652

COMMON

STOCKS

-

.29

%

Shares

Held

Value

(000's)

Advertising

-

.64

%

Trade

Desk

Inc/The

(d) 82,884

$

4,062

Aerospace

&

Defense

-

.08

%

Boeing

Co/The

(d) 12,301

2,654

FTAI

Aviation

Ltd

General

Electric

Co

2,633

792

HEICO

Corp

HEICO

Corp

-

Class

A

Howmet

Aerospace

Inc

22,192

4,355

Karman

Holdings

Inc

(d) 77

Leonardo

DRS

Inc

Loar

Holdings

Inc

(d) 94

Lockheed

Martin

Corp

Rocket

Lab

Corp

(d) 1,035

Spirit

AeroSystems

Holdings

Inc

(d) 35

StandardAero

Inc

(d) 37

TransDigm

Group

Inc

3,863

5,092

$

13,159

Agriculture

-

.00

%

Darling

Ingredients

Inc

(d) 50

Airlines

-

.00

%

Alaska

Air

Group

Inc

(d) 61

American

Airlines

Group

Inc

(d) 108

Southwest

Airlines

Co

$

Apparel

-

.02

%

Birkenstock

Holding

Plc

(d) 46

Deckers

Outdoor

Corp

(d) 370

On

Holding

AG

(d) 551

Ralph

Lauren

Corp

Tapestry

Inc

$

Automobile

Manufacturers

-

.49

%

Tesla

Inc

(d) 6,904

3,070

Automobile

Parts

&

Equipment

-

.00

%

Allison

Transmission

Holdings

Inc

Banks

-

.05

%

Bank

of

America

Corp

1,342

Bank

of

New

York

Mellon

Corp/The

Citigroup

Inc

816

Goldman

Sachs

Group

Inc/The

NU

Holdings

Ltd/Cayman

Islands

(d) 8,383

Pinnacle

Financial

Partners

Inc

Popular

Inc

Western

Alliance

Bancorp

$

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Beverages

-

.08

%

Celsius

Holdings

Inc

(d) 394

$

Coca-Cola

Co/The

4,759

Coca-Cola

Consolidated

Inc

Monster

Beverage

Corp

(d) 1,746

PepsiCo

Inc

$

524

Biotechnology

-

.49

%

Alnylam

Pharmaceuticals

Inc

(d) 313

Amgen

Inc

993

Apellis

Pharmaceuticals

Inc

(d) 259

Argenx

SE

ADR

(d) 2,898

2,137

Exelixis

Inc

(d) 515

Gilead

Sciences

Inc

839

Halozyme

Therapeutics

Inc

(d) 294

Incyte

Corp

(d) 98

Insmed

Inc

(d) 436

Ionis

Pharmaceuticals

Inc

(d) 347

Sarepta

Therapeutics

Inc

(d) 202

Summit

Therapeutics

Inc

(d),(g)

Ultragenyx

Pharmaceutical

Inc

(d) 229

Vertex

Pharmaceuticals

Inc

(d) 644

Viking

Therapeutics

Inc

(d) 31

$

3,066

Building

Materials

-

.97

%

AAON

Inc

(g) 167

Armstrong

World

Industries

Inc

Carlisle

Cos

Inc

Eagle

Materials

Inc

James

Hardie

Industries

PLC

(d) 224

Lennox

International

Inc

Simpson

Manufacturing

Co

Inc

Trane

Technologies

PLC

14,321

6,043

$

6,119

Chemicals

-

.04

%

Ecolab

Inc

Sherwin-Williams

Co/The

528

$

Commercial

Services

-

.64

%

Adyen

NV

ADR

(d) 48,020

768

Affirm

Holdings

Inc

(d) 400

Automatic

Data

Processing

Inc

945

Avis

Budget

Group

Inc

(d),(g)

Block

Inc

(d) 112,845

8,155

Booz

Allen

Hamilton

Holding

Corp

Bright

Horizons

Family

Solutions

Inc

(d) 22

Cintas

Corp

34,819

7,147

Corpay

Inc

(d) 170

Equifax

Inc

8,488

2,177

Grand

Canyon

Education

Inc

(d) 19

H&R

Block

Inc

Moody's

Corp

Morningstar

Inc

NIQ

Global

Intelligence

Plc

(d) 60

Paylocity

Holding

Corp

(d) 100

Quanta

Services

Inc

Rollins

Inc

702

S&P

Global

Inc

7,992

3,890

Shift4

Payments

Inc

(d) 159

Toast

Inc

(d) 1,130

U-Haul

Holding

Co

(d) 11

U-Haul

Holding

Co

Valvoline

Inc

(d) 270

Verisk

Analytics

Inc

WEX

Inc

(d) 10

WillScot

Holdings

Corp

$

23,031

Schedule

of

Investments

LargeCap

Growth

Account

I

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Computers

-

.10

%

Apple

Inc

148,595

$

37,837

Crowdstrike

Holdings

Inc

(d) 611

Dell

Technologies

Inc

ExlService

Holdings

Inc

(d) 380

Fortinet

Inc

(d) 1,593

Gartner

Inc

(d) 187

Globant

SA

(d) 13

KBR

Inc

Kyndryl

Holdings

Inc

(d) 43

Lumentum

Holdings

Inc

(d) 15

NetApp

Inc

Okta

Inc

(d) 156

Pure

Storage

Inc

(d) 666

Rubrik

Inc

(d) 173

Super

Micro

Computer

Inc

(d) 588

Zscaler

Inc

(d) 244

$

38,566

Consumer

Products

-

.01

%

Kimberly-Clark

Corp

Cosmetics

&

Personal

Care

-

.01

%

Colgate-Palmolive

Co

953

Distribution

&

Wholesale

-

.05

%

Copart

Inc

(d) 2,063

Core

&

Main

Inc

(d) 264

Fastenal

Co

2,361

Pool

Corp

RB

Global

Inc

SiteOne

Landscape

Supply

Inc

(d) 35

WW

Grainger

Inc

$

Diversified

Financial

Services

-

.06

%

Ally

Financial

Inc

American

Express

Co

Ameriprise

Financial

Inc

Apollo

Global

Management

Inc

719

Ares

Management

Corp

8,581

1,372

Blue

Owl

Capital

Inc

1,529

Brookfield

Asset

Management

Ltd

Charles

Schwab

Corp/The

Circle

Internet

Group

Inc

(d),(g)

Coinbase

Global

Inc

(d) 52

Credit

Acceptance

Corp

(d),(g)

Freedom

Holding

Corp/NV

(d),(g)

Hamilton

Lane

Inc

Houlihan

Lokey

Inc

Interactive

Brokers

Group

Inc

-

A

Shares

Jefferies

Financial

Group

Inc

Lazard

Inc

LPL

Financial

Holdings

Inc

Mastercard

Inc

33,993

19,336

SLM

Corp

SoFi

Technologies

Inc

(d) 384

TPG

Inc

Tradeweb

Markets

Inc

17,091

1,897

UWM

Holdings

Corp

Visa

Inc

25,742

8,788

XP

Inc

$

31,986

Electric

-

.04

%

NRG

Energy

Inc

Vistra

Corp

847

$

Electrical

Components

&

Equipment

-

.82

%

Generac

Holdings

Inc

(d) 30,848

5,164

Electronics

-

.41

%

Amphenol

Corp

71,610

8,862

Jabil

Inc

$

8,899

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Energy

-

Alternate

Sources

-

.00

%

Enphase

Energy

Inc

(d) 305

$

Engineering

&

Construction

-

.02

%

Comfort

Systems

USA

Inc

EMCOR

Group

Inc

MasTec

Inc

(d) 32

TopBuild

Corp

(d) 7

$

Entertainment

-

.77

%

Churchill

Downs

Inc

DraftKings

Inc

(d) 125,161

4,681

Flutter

Entertainment

PLC

(d) 363

Light

&

Wonder

Inc

(d) 198

Live

Nation

Entertainment

Inc

(d) 395

TKO

Group

Holdings

Inc

Vail

Resorts

Inc

$

4,893

Environmental

Control

-

.74

%

Tetra

Tech

Inc

Veralto

Corp

42,126

4,491

Waste

Management

Inc

926

$

4,700

Food

-

.01

%

Hershey

Co/The

Performance

Food

Group

Co

(d) 46

Sprouts

Farmers

Market

Inc

(d) 244

Sysco

Corp

650

$

Healthcare

-

Products

-

.46

%

Boston

Scientific

Corp

(d) 637

Caris

Life

Sciences

Inc

(d),(g)

Danaher

Corp

7,382

1,464

Exact

Sciences

Corp

(d) 30

IDEXX

Laboratories

Inc

(d) 202

Inspire

Medical

Systems

Inc

(d) 69

Insulet

Corp

(d) 175

Intuitive

Surgical

Inc

(d) 29,973

13,404

Masimo

Corp

(d) 108

Natera

Inc

(d) 14,319

2,305

Penumbra

Inc

(d) 90

Repligen

Corp

(d) 20

ResMed

Inc

Sonova

Holding

AG

ADR

24,996

1,361

Stryker

Corp

10,271

3,797

Tempus

AI

Inc

(d),(g)

Waters

Corp

(d) 77

West

Pharmaceutical

Services

Inc

20,922

5,488

$

28,176

Healthcare

-

Services

-

.16

%

Chemed

Corp

Cigna

Group/The

9,525

2,745

DaVita

Inc

(d) 91

HCA

Healthcare

Inc

Medpace

Holdings

Inc

(d) 55

Molina

Healthcare

Inc

(d) 70

Sotera

Health

Co

(d) 43

UnitedHealth

Group

Inc

13,041

4,503

$

7,343

Home

Furnishings

-

.01

%

SharkNinja

Inc

(d) 35

Somnigroup

International

Inc

505

$

Insurance

-

.11

%

Aon

PLC

Arthur

J

Gallagher

&

Co

Brown

&

Brown

Inc

Equitable

Holdings

Inc

753

Everest

Group

Ltd

Kinsale

Capital

Group

Inc

Schedule

of

Investments

LargeCap

Growth

Account

I

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Markel

Group

Inc

(d) 6

$

Marsh

&

McLennan

Cos

Inc

Progressive

Corp/The

27,120

6,697

RLI

Corp

Ryan

Specialty

Holdings

Inc

$

7,011

Internet

-

.01

%

Airbnb

Inc

(d) 1,064

Alphabet

Inc

-

A

Shares

84,248

20,481

Alphabet

Inc

-

C

Shares

42,351

10,314

Amazon.com

Inc

(d) 136,218

29,910

AppLovin

Corp

(d) 5,847

4,201

Booking

Holdings

Inc

799

4,314

CDW

Corp/DE

Chewy

Inc

(d) 533

Coupang

Inc

(d) 97,745

3,147

DoorDash

Inc

-

Class

A

(d) 898

Etsy

Inc

(d) 142

Expedia

Group

Inc

Gen

Digital

Inc

GoDaddy

Inc

(d) 343

Lyft

Inc

(d) 186

MercadoLibre

Inc

(d) 1,043

2,437

Meta

Platforms

Inc

36,953

27,138

Netflix

Inc

(d) 14,358

17,214

Palo

Alto

Networks

Inc

(d) 1,644

Pinterest

Inc

(d) 734

Reddit

Inc

(d) 291

Robinhood

Markets

Inc

(d) 247

Roku

Inc

(d) 41

Shopify

Inc

(d) 14,655

2,178

Spotify

Technology

SA

(d) 385

Trump

Media

&

Technology

Group

Corp

(d),(g)

Uber

Technologies

Inc

(d) 103,906

10,180

Wayfair

Inc

(d) 48

$

132,783

Iron

&

Steel

-

.00

%

Carpenter

Technology

Corp

Steel

Dynamics

Inc

$

Leisure

Products

&

Services

-

.05

%

Carnival

Corp

(d) 834

Norwegian

Cruise

Line

Holdings

Ltd

(d) 1,000

Planet

Fitness

Inc

(d) 202

Royal

Caribbean

Cruises

Ltd

634

Viking

Holdings

Ltd

(d) 437

$

Lodging

-

.51

%

Choice

Hotels

International

Inc

(g) 24

Hilton

Worldwide

Holdings

Inc

36,109

9,368

Las

Vegas

Sands

Corp

767

Marriott

International

Inc/MD

Travel

+

Leisure

Co

Wyndham

Hotels

&

Resorts

Inc

$

9,542

Machinery

-

Construction

&

Mining

-

.10

%

BWX

Technologies

Inc

Caterpillar

Inc

GE

Vernova

Inc

684

Vertiv

Holdings

Co

952

$

640

Machinery

-

Diversified

-

.24

%

Ingersoll

Rand

Inc

18,321

1,514

Rockwell

Automation

Inc

$

1,522

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Media

-

.00

%

FactSet

Research

Systems

Inc

$

Liberty

Broadband

Corp

-

A

Shares

(d) 12

Liberty

Broadband

Corp

-

C

Shares

(d) 57

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d) 21

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d) 157

Nexstar

Media

Group

Inc

$

Metal

Fabrication

&

Hardware

-

.00

%

RBC

Bearings

Inc

(d) 18

Mining

-

.00

%

Anglogold

Ashanti

Plc

Miscellaneous

Manufacturers

-

.04

%

3M

Co

Axon

Enterprise

Inc

(d) 187

Illinois

Tool

Works

Inc

$

Oil

&

Gas

-

.01

%

HF

Sinclair

Corp

Phillips

Texas

Pacific

Land

Corp

$

Oil

&

Gas

Services

-

.00

%

Schlumberger

NV

Pharmaceuticals

-

.26

%

AbbVie

Inc

4,433

1,027

Bristol-Myers

Squibb

Co

981

Cardinal

Health

Inc

Cencora

Inc

Corcept

Therapeutics

Inc

(d) 225

Dexcom

Inc

(d) 978

Eli

Lilly

&

Co

8,722

6,655

McKesson

Corp

Neurocrine

Biosciences

Inc

(d) 207

Zoetis

Inc

41,359

6,051

$

14,304

Pipelines

-

.03

%

Cheniere

Energy

Inc

Targa

Resources

Corp

537

Williams

Cos

Inc/The

$

Private

Equity

-

.06

%

Blackstone

Inc

1,832

KKR

&

Co

Inc

$

Real

Estate

-

.97

%

CBRE

Group

Inc

(d) 78

CoStar

Group

Inc

(d) 72,310

6,101

Jones

Lang

LaSalle

Inc

(d) 31

$

6,122

REITs

-

.05

%

American

Tower

Corp

1,170

Lamar

Advertising

Co

Public

Storage

Simon

Property

Group

Inc

Sun

Communities

Inc

UDR

Inc

$

Retail

-

.26

%

AutoZone

Inc

(d) 7

BJ's

Wholesale

Club

Holdings

Inc

(d) 47

Burlington

Stores

Inc

(d) 158

Carvana

Co

(d) 331

Casey's

General

Stores

Inc

Cava

Group

Inc

(d) 239

Chipotle

Mexican

Grill

Inc

(d) 49,338

1,934

Costco

Wholesale

Corp

11,198

10,365

Schedule

of

Investments

LargeCap

Growth

Account

I

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Darden

Restaurants

Inc

$

Domino's

Pizza

Inc

Dutch

Bros

Inc

(d) 278

Ferguson

Enterprises

Inc

Floor

&

Decor

Holdings

Inc

(d) 81

Freshpet

Inc

(d) 39

Home

Depot

Inc/The

1,900

770

Lithia

Motors

Inc

Lululemon

Athletica

Inc

(d) 151

McDonald's

Corp

Murphy

USA

Inc

O'Reilly

Automotive

Inc

(d) 1,962

Restaurant

Brands

International

Inc

515

RH

(d) 8

Ross

Stores

Inc

Starbucks

Corp

Texas

Roadhouse

Inc

TJX

Cos

Inc/The

1,400

Tractor

Supply

Co

1,331

Ulta

Beauty

Inc

(d) 27

Walmart

Inc

1,088

Wendy's

Co/The

Williams-Sonoma

Inc

Wingstop

Inc

Yum!

Brands

Inc

$

14,257

Semiconductors

-

.46

%

Advanced

Micro

Devices

Inc

(d) 13,429

2,173

Applied

Materials

Inc

570

Astera

Labs

Inc

(d) 317

Broadcom

Inc

49,484

16,325

Entegris

Inc

34,162

3,158

KLA

Corp

Lam

Research

Corp

3,203

Lattice

Semiconductor

Corp

(d) 31,787

2,330

MACOM

Technology

Solutions

Holdings

Inc

(d) 38

Marvell

Technology

Inc

82,266

6,916

Monolithic

Power

Systems

Inc

NVIDIA

Corp

324,317

60,511

NXP

Semiconductors

NV

21,774

4,959

Onto

Innovation

Inc

(d) 32

QUALCOMM

Inc

617

Texas

Instruments

Inc

931

$

97,729

Software

-

.76

%

Adobe

Inc

(d) 1,065

Appfolio

Inc

(d) 55

Atlassian

Corp

(d) 405

Autodesk

Inc

(d) 23,693

7,526

Bentley

Systems

Inc

Broadridge

Financial

Solutions

Inc

Cadence

Design

Systems

Inc

(d) 17,706

6,220

Cloudflare

Inc

(d) 772

Confluent

Inc

(d) 677

Datadog

Inc

(d) 57,375

8,170

Dayforce

Inc

(d) 29,963

2,064

Docusign

Inc

(d) 380

DoubleVerify

Holdings

Inc

(d) 191

Doximity

Inc

(d) 334

Dropbox

Inc

-

A

Shares

(d) 129

Duolingo

Inc

(d) 94

Dynatrace

Inc

(d) 26,535

1,286

Elastic

NV

(d) 217

Fair

Isaac

Corp

(d) 3,690

5,522

Fiserv

Inc

(d) 374

Gitlab

Inc

(d) 315

Guidewire

Software

Inc

(d) 209

HubSpot

Inc

(d) 5,795

2,711

Intuit

Inc

25,264

17,252

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

Magic

Leap

Inc

(d),(e),(f)

$

—

Manhattan

Associates

Inc

(d) 149

Microsoft

Corp

111,079

57,534

MongoDB

Inc

(d) 5,590

1,735

MSCI

Inc

nCino

Inc

(d) 44

Nutanix

Inc

(d) 150

Oracle

Corp

4,144

1,166

Palantir

Technologies

Inc

(d) 5,465

997

Paychex

Inc

Paycom

Software

Inc

Pegasystems

Inc

Procore

Technologies

Inc

(d) 275

PTC

Inc

(d) 36

RingCentral

Inc

(d) 210

ROBLOX

Corp

(d) 1,530

Salesforce

Inc

Samsara

Inc

(d) 140,196

5,222

SentinelOne

Inc

(d) 493

ServiceNow

Inc

(d) 14,632

13,466

Snowflake

Inc

-

Class

A

(d) 782

Strategy

Inc

(d) 36

Stripe

Inc

-

Class

B

(d),(e),(f)

5,754

Synopsys

Inc

(d) 338

Take-Two

Interactive

Software

Inc

(d) 154

Teradata

Corp

(d) 64

Twilio

Inc

(d) 58

Tyler

Technologies

Inc

(d) 89

Unity

Software

Inc

(d) 54

Veeva

Systems

Inc

(d) 15,053

4,484

Workday

Inc

(d) 538

$

137,534

Telecommunications

-

.19

%

Arista

Networks

Inc

(d) 45,074

6,568

AST

SpaceMobile

Inc

(d) 445

Ciena

Corp

(d) 5,620

819

GCI

Liberty

Inc

-

Class

A

(d) 2

—

GCI

Liberty

Inc

-

Class

C

(d) 13

—

Iridium

Communications

Inc

Motorola

Solutions

Inc

Ubiquiti

Inc

$

7,497

Transportation

-

.01

%

Old

Dominion

Freight

Line

Inc

Union

Pacific

Corp

XPO

Inc

(d) 57

$

TOTAL

COMMON

STOCKS

$

614,865

Total

Investments

$

631,805

Other

Assets

and

Liabilities

- 0.03%

TOTAL

NET

ASSETS

-

100.00%

$

631,967

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$57

or

0.01%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f) Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

Schedule

of

Investments

LargeCap

Growth

Account

I

September

30,

2025

(unaudited)

(g) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$56

or

0.01%

of

net

assets.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

12,206

$

141,028

$

137,752

$

15,482

$

12,206

$

141,028

$

137,752

$

15,482

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Magic

Leap

Inc

01/20/2016-10/12/2017

$

$

—

0.00%

Nuro

-

Series

C

0.00%

10/30/2020

0.04%

Rappi

Inc

-

Series

E

0.00%

09/08/2020

0.01%

Sila

Nano

Series

F

0.00%

01/07/2021

0.01%

Stripe

Inc

-

Class

B

12/17/2019

0.03%

Waymo

LLC

Series

0.00%

05/08/2020

0.04%

Total

$

856

0.13%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

December

2025

Long

$

4,717

$

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.74

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.30

%

iShares

Core

S&P

500

ETF

11,216

$

7,507

Money

Market

Funds

-

.44

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

539,447

539

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

36,265,481

36,265

$

36,804

TOTAL

INVESTMENT

COMPANIES

$

44,311

COMMON

STOCKS

-

.53

%

Shares

Held

Value

(000's)

Advertising

-

.08

%

Interpublic

Group

of

Cos

Inc/The

16,131

$

Omnicom

Group

Inc

8,532

696

Trade

Desk

Inc/The

(d) 19,627

962

$

2,108

Aerospace

&

Defense

-

.05

%

Boeing

Co/The

(d) 33,300

7,187

General

Dynamics

Corp

11,119

3,792

General

Electric

Co

46,702

14,049

Howmet

Aerospace

Inc

17,754

3,484

L3Harris

Technologies

Inc

8,240

2,516

Lockheed

Martin

Corp

9,048

4,517

Northrop

Grumman

Corp

5,928

3,612

RTX

Corp

58,948

9,864

TransDigm

Group

Inc

2,482

3,271

$

52,292

Agriculture

-

.70

%

Altria

Group

Inc

73,981

4,887

Archer-Daniels-Midland

Co

21,159

1,264

Bunge

Global

SA

6,166

501

Philip

Morris

International

Inc

68,551

11,119

$

17,771

Airlines

-

.15

%

Delta

Air

Lines

Inc

28,566

1,621

Southwest

Airlines

Co

23,130

738

United

Airlines

Holdings

Inc

(d) 14,257

1,376

$

3,735

Apparel

-

.23

%

Deckers

Outdoor

Corp

(d) 6,533

662

NIKE

Inc

52,318

3,648

Ralph

Lauren

Corp

1,705

535

Tapestry

Inc

9,166

1,038

$

5,883

Automobile

Manufacturers

-

.53

%

Cummins

Inc

6,069

2,563

Ford

Motor

Co

172,148

2,059

General

Motors

Co

41,930

2,556

PACCAR

Inc

23,126

2,274

Tesla

Inc

(d) 123,580

54,959

$

64,411

Automobile

Parts

&

Equipment

-

.03

%

Aptiv

PLC

(d) 9,590

827

Banks

-

.50

%

Bank

of

America

Corp

300,096

15,482

Bank

of

New

York

Mellon

Corp/The

31,058

3,384

Citigroup

Inc

81,072

8,229

Citizens

Financial

Group

Inc

18,997

1,010

Fifth

Third

Bancorp

29,150

1,299

Goldman

Sachs

Group

Inc/The

13,332

10,617

Huntington

Bancshares

Inc/OH

64,554

1,115

JPMorgan

Chase

&

Co

121,096

38,197

KeyCorp

41,047

767

M&T

Bank

Corp

6,883

1,360

Morgan

Stanley

53,429

8,493

Northern

Trust

Corp

8,422

1,134

PNC

Financial

Services

Group

Inc/The

17,344

3,485

Regions

Financial

Corp

39,297

1,036

State

Street

Corp

12,494

1,450

Truist

Financial

Corp

56,786

2,596

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

US

Bancorp

68,533

$

3,312

Wells

Fargo

&

Co

141,076

11,825

$

114,791

Beverages

-

.97

%

Brown-Forman

Corp

-

B

Shares

7,755

Coca-Cola

Co/The

170,576

11,313

Constellation

Brands

Inc

6,288

847

Keurig

Dr

Pepper

Inc

59,824

1,526

Molson

Coors

Beverage

Co

7,460

Monster

Beverage

Corp

(d) 31,390

2,113

PepsiCo

Inc

60,293

8,467

$

24,813

Biotechnology

-

.93

%

Amgen

Inc

23,709

6,691

Biogen

Inc

(d) 6,456

904

Corteva

Inc

29,908

2,023

Gilead

Sciences

Inc

54,644

6,065

Incyte

Corp

(d) 7,222

613

Moderna

Inc

(d) 15,249

Regeneron

Pharmaceuticals

Inc

4,487

2,523

Vertex

Pharmaceuticals

Inc

(d) 11,292

4,422

$

23,635

Building

Materials

-

.59

%

Builders

FirstSource

Inc

(d) 4,868

590

Carrier

Global

Corp

35,229

2,103

Johnson

Controls

International

plc

28,819

3,169

Lennox

International

Inc

1,408

746

Martin

Marietta

Materials

Inc

2,656

1,674

Masco

Corp

9,221

649

Mohawk

Industries

Inc

(d) 2,298

Trane

Technologies

PLC

9,800

4,135

Vulcan

Materials

Co

5,819

1,790

$

15,152

Chemicals

-

.00

%

Air

Products

and

Chemicals

Inc

9,801

2,673

Albemarle

Corp

5,182

CF

Industries

Holdings

Inc

7,134

640

Dow

Inc

31,218

716

DuPont

de

Nemours

Inc

18,441

1,436

Eastman

Chemical

Co

5,058

Ecolab

Inc

11,240

3,078

International

Flavors

&

Fragrances

Inc

11,287

695

Linde

PLC

20,651

9,809

LyondellBasell

Industries

NV

11,333

556

Mosaic

Co/The

13,978

PPG

Industries

Inc

9,940

1,045

Sherwin-Williams

Co/The

10,212

3,536

$

25,408

Commercial

Services

-

.32

%

Automatic

Data

Processing

Inc

17,837

5,235

Block

Inc

(d) 24,202

1,749

Cintas

Corp

15,085

3,096

Corpay

Inc

(d) 3,110

896

Equifax

Inc

5,452

1,399

Global

Payments

Inc

10,685

888

Moody's

Corp

6,795

3,238

PayPal

Holdings

Inc

(d) 42,075

2,822

Quanta

Services

Inc

6,563

2,720

Rollins

Inc

12,380

727

S&P

Global

Inc

13,763

6,699

United

Rentals

Inc

2,834

2,705

Verisk

Analytics

Inc

6,153

1,547

$

33,721

Computers

-

.11

%

Accenture

PLC

-

Class

A

27,430

6,764

Apple

Inc

653,552

166,414

Cognizant

Technology

Solutions

Corp

21,509

1,443

Crowdstrike

Holdings

Inc

(d) 10,977

5,383

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Computers

(continued)

Dell

Technologies

Inc

13,351

$

1,893

EPAM

Systems

Inc

(d) 2,453

Fortinet

Inc

(d) 28,683

2,412

Gartner

Inc

(d) 3,336

877

Hewlett

Packard

Enterprise

Co

57,789

1,419

HP

Inc

41,366

1,126

International

Business

Machines

Corp

41,024

11,575

Leidos

Holdings

Inc

5,651

1,068

NetApp

Inc

8,813

1,044

Seagate

Technology

Holdings

PLC

9,367

2,211

Super

Micro

Computer

Inc

(d) 22,079

1,059

Western

Digital

Corp

15,279

1,834

$

206,892

Consumer

Products

-

.16

%

Avery

Dennison

Corp

3,434

557

Church

&

Dwight

Co

Inc

10,729

940

Clorox

Co/The

5,387

664

Kimberly-Clark

Corp

14,612

1,817

$

3,978

Cosmetics

&

Personal

Care

-

.82

%

Colgate-Palmolive

Co

35,594

2,845

Estee

Lauder

Cos

Inc/The

10,315

909

Kenvue

Inc

84,514

1,372

Procter

&

Gamble

Co/The

(e) 103,156

15,850

$

20,976

Distribution

&

Wholesale

-

.27

%

Copart

Inc

(d) 39,175

1,762

Fastenal

Co

50,542

2,478

LKQ

Corp

11,332

Pool

Corp

1,447

WW

Grainger

Inc

1,937

1,846

$

6,881

Diversified

Financial

Services

-

.92

%

American

Express

Co

23,904

7,940

Ameriprise

Financial

Inc

4,151

2,039

Apollo

Global

Management

Inc

20,263

2,701

Blackrock

Inc

6,342

7,394

Capital

One

Financial

Corp

28,163

5,987

Cboe

Global

Markets

Inc

4,607

1,130

Charles

Schwab

Corp/The

75,144

7,174

CME

Group

Inc

15,871

4,288

Coinbase

Global

Inc

(d) 9,958

3,361

Franklin

Resources

Inc

13,491

Interactive

Brokers

Group

Inc

-

A

Shares

19,607

1,349

Intercontinental

Exchange

Inc

25,210

4,247

Invesco

Ltd

19,641

Mastercard

Inc

36,353

20,678

Nasdaq

Inc

19,962

1,766

Raymond

James

Financial

Inc

7,815

1,349

Synchrony

Financial

16,386

1,164

T

Rowe

Price

Group

Inc

9,677

993

Visa

Inc

74,809

25,538

$

99,861

Electric

-

.18

%

AES

Corp/The

31,358

Alliant

Energy

Corp

11,316

763

Ameren

Corp

11,908

1,243

American

Electric

Power

Co

Inc

23,552

2,650

CenterPoint

Energy

Inc

28,752

1,116

CMS

Energy

Corp

13,183

966

Consolidated

Edison

Inc

15,883

1,596

Constellation

Energy

Corp

13,759

4,528

Dominion

Energy

Inc

37,585

2,299

DTE

Energy

Co

9,143

1,293

Duke

Energy

Corp

34,247

4,238

Edison

International

16,948

937

Entergy

Corp

19,660

1,832

Evergy

Inc

10,136

770

Eversource

Energy

16,342

1,163

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electric

(continued)

Exelon

Corp

44,480

$

2,002

FirstEnergy

Corp

22,884

1,048

NextEra

Energy

Inc

90,690

6,846

NRG

Energy

Inc

8,519

1,380

PG&E

Corp

96,791

1,460

Pinnacle

West

Capital

Corp

5,260

PPL

Corp

32,568

1,210

Public

Service

Enterprise

Group

Inc

21,980

1,834

Sempra

28,735

2,586

Southern

Co/The

48,446

4,591

Vistra

Corp

14,027

2,748

WEC

Energy

Group

Inc

14,173

1,624

Xcel

Energy

Inc

26,045

2,100

$

55,708

Electrical

Components

&

Equipment

-

.47

%

AMETEK

Inc

10,171

1,912

Eaton

Corp

PLC

17,145

6,417

Emerson

Electric

Co

24,786

3,251

Generac

Holdings

Inc

(d) 2,585

$

12,013

Electronics

-

.94

%

Allegion

plc

3,780

670

Amphenol

Corp

53,766

6,653

Fortive

Corp

14,901

730

Garmin

Ltd

7,204

1,774

Honeywell

International

Inc

27,961

5,886

Hubbell

Inc

2,341

1,007

Jabil

Inc

4,727

1,026

Keysight

Technologies

Inc

(d) 7,580

1,326

Mettler-Toledo

International

Inc

(d) 908

1,115

TE

Connectivity

PLC

13,013

2,857

Trimble

Inc

(d) 10,481

856

$

23,900

Energy

-

Alternate

Sources

-

.04

%

First

Solar

Inc

(d) 4,724

1,042

Engineering

&

Construction

-

.08

%

EMCOR

Group

Inc

1,970

1,280

Jacobs

Solutions

Inc

5,265

789

$

2,069

Entertainment

-

.07

%

Live

Nation

Entertainment

Inc

(d) 6,947

1,135

TKO

Group

Holdings

Inc

3,037

613

$

1,748

Environmental

Control

-

.30

%

Pentair

PLC

7,220

800

Republic

Services

Inc

8,938

2,051

Veralto

Corp

10,929

1,165

Waste

Management

Inc

16,320

3,604

$

7,620

Food

-

.58

%

Campbell's

Company/The

(f) 8,665

Conagra

Brands

Inc

21,098

General

Mills

Inc

23,548

1,187

Hershey

Co/The

6,523

1,220

Hormel

Foods

Corp

12,836

J

M

Smucker

Co/The

4,699

510

Kellanova

11,841

971

Kraft

Heinz

Co/The

37,531

977

Kroger

Co/The

26,788

1,806

Lamb

Weston

Holdings

Inc

6,138

McCormick

&

Co

Inc/MD

11,144

746

Mondelez

International

Inc

56,984

3,560

Sysco

Corp

21,029

1,732

Tyson

Foods

Inc

12,585

683

$

14,726

Forest

Products

&

Paper

-

.04

%

International

Paper

Co

23,253

1,079

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Gas

-

.08

%

Atmos

Energy

Corp

7,068

$

1,207

NiSource

Inc

20,737

898

$

2,105

Hand

&

Machine

Tools

-

.05

%

Snap-on

Inc

2,298

796

Stanley

Black

&

Decker

Inc

6,817

507

$

1,303

Healthcare

-

Products

-

.57

%

Abbott

Laboratories

76,648

10,266

Agilent

Technologies

Inc

12,510

1,606

Align

Technology

Inc

(d) 2,968

Baxter

International

Inc

22,619

515

Bio-Techne

Corp

6,903

Boston

Scientific

Corp

(d) 65,255

6,371

Cooper

Cos

Inc/The

(d) 8,787

602

Danaher

Corp

28,066

5,564

Edwards

Lifesciences

Corp

(d) 25,856

2,011

GE

HealthCare

Technologies

Inc

20,107

1,510

Hologic

Inc

(d) 9,796

661

IDEXX

Laboratories

Inc

(d) 3,524

2,252

Insulet

Corp

(d) 3,101

957

Intuitive

Surgical

Inc

(d) 15,788

7,061

Medtronic

PLC

56,426

5,374

ResMed

Inc

6,449

1,765

Revvity

Inc

5,112

Solventum

Corp

(d) 6,491

STERIS

PLC

4,338

1,073

Stryker

Corp

15,153

5,602

Thermo

Fisher

Scientific

Inc

16,630

8,066

Waters

Corp

(d) 2,622

786

West

Pharmaceutical

Services

Inc

3,167

831

Zimmer

Biomet

Holdings

Inc

8,725

859

$

65,410

Healthcare

-

Services

-

.19

%

Centene

Corp

(d) 20,547

733

Charles

River

Laboratories

International

Inc

(d) 2,168

Cigna

Group/The

11,756

3,389

DaVita

Inc

(d) 1,575

Elevance

Health

Inc

9,917

3,204

HCA

Healthcare

Inc

7,214

3,074

Humana

Inc

5,297

1,378

IQVIA

Holdings

Inc

(d) 7,485

1,422

Labcorp

Holdings

Inc

3,660

1,051

Molina

Healthcare

Inc

(d) 2,387

Quest

Diagnostics

Inc

4,925

938

UnitedHealth

Group

Inc

39,886

13,773

Universal

Health

Services

Inc

2,484

508

$

30,475

Home

Builders

-

.22

%

DR

Horton

Inc

12,211

2,069

Lennar

Corp

-

A

Shares

10,024

1,264

NVR

Inc

(d) 127

1,020

PulteGroup

Inc

8,689

1,148

$

5,501

Insurance

-

.43

%

Aflac

Inc

21,198

2,368

Allstate

Corp/The

11,604

2,491

American

International

Group

Inc

24,398

1,916

Aon

PLC

9,496

3,386

Arch

Capital

Group

Ltd

16,369

1,485

Arthur

J

Gallagher

&

Co

11,290

3,497

Assurant

Inc

2,222

Berkshire

Hathaway

Inc

-

Class

B

(d) 80,756

40,599

Brown

&

Brown

Inc

12,902

1,210

Chubb

Ltd

16,330

4,609

Cincinnati

Financial

Corp

6,887

1,089

Erie

Indemnity

Co

1,117

Everest

Group

Ltd

1,848

647

Globe

Life

Inc

3,568

510

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Hartford

Insurance

Group

Inc/The

12,383

$

1,652

Loews

Corp

7,491

752

Marsh

&

McLennan

Cos

Inc

21,651

4,363

MetLife

Inc

24,602

2,027

Principal

Financial

Group

Inc

8,928

740

Progressive

Corp/The

25,817

6,376

Prudential

Financial

Inc

15,502

1,608

Travelers

Cos

Inc/The

9,915

2,769

W

R

Berkley

Corp

13,197

1,011

Willis

Towers

Watson

PLC

4,296

1,484

$

87,425

Internet

-

.70

%

Airbnb

Inc

(d) 18,896

2,294

Alphabet

Inc

-

A

Shares

256,174

62,276

Alphabet

Inc

-

C

Shares

205,653

50,087

Amazon.com

Inc

(d) 427,397

93,843

AppLovin

Corp

(d) 11,921

8,566

Booking

Holdings

Inc

1,428

7,710

CDW

Corp/DE

5,772

919

DoorDash

Inc

-

Class

A

(d) 16,301

4,434

eBay

Inc

20,127

1,830

Expedia

Group

Inc

5,206

1,113

F5

Inc

(d) 2,530

818

Gen

Digital

Inc

24,680

701

GoDaddy

Inc

(d) 6,098

834

Match

Group

Inc

10,597

Meta

Platforms

Inc

95,520

70,148

Netflix

Inc

(d) 18,714

22,437

Palo

Alto

Networks

Inc

(d) 29,414

5,989

Robinhood

Markets

Inc

(d) 34,083

4,880

Uber

Technologies

Inc

(d) 91,840

8,998

VeriSign

Inc

3,703

1,035

$

349,286

Iron

&

Steel

-

.09

%

Nucor

Corp

10,109

1,369

Steel

Dynamics

Inc

6,094

850

$

2,219

Leisure

Products

&

Services

-

.21

%

Carnival

Corp

(d) 47,812

1,383

Norwegian

Cruise

Line

Holdings

Ltd

(d) 19,902

Royal

Caribbean

Cruises

Ltd

11,123

3,599

$

5,472

Lodging

-

.27

%

Hilton

Worldwide

Holdings

Inc

10,358

2,687

Las

Vegas

Sands

Corp

13,604

732

Marriott

International

Inc/MD

9,923

2,584

MGM

Resorts

International

(d) 8,991

Wynn

Resorts

Ltd

3,719

$

6,792

Machinery

-

Construction

&

Mining

-

.67

%

Caterpillar

Inc

20,632

9,845

GE

Vernova

Inc

11,989

7,372

$

17,217

Machinery

-

Diversified

-

.58

%

Deere

&

Co

11,093

5,072

Dover

Corp

6,040

1,008

IDEX

Corp

3,316

540

Ingersoll

Rand

Inc

15,929

1,316

Nordson

Corp

2,365

537

Otis

Worldwide

Corp

17,285

1,580

Rockwell

Automation

Inc

4,952

1,731

Westinghouse

Air

Brake

Technologies

Corp

7,529

1,509

Xylem

Inc/NY

10,720

1,581

$

14,874

Media

-

.77

%

Charter

Communications

Inc

(d) 4,091

1,126

Comcast

Corp

-

Class

A

162,185

5,096

FactSet

Research

Systems

Inc

1,666

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Media

(continued)

Fox

Corp

-

A

Shares

9,247

$

583

Fox

Corp

-

B

Shares

5,810

News

Corp

-

A

Shares

16,579

509

News

Corp

-

B

Shares

4,899

Paramount

Skydance

Corp

(f) 13,598

Walt

Disney

Co/The

79,180

9,066

Warner

Bros

Discovery

Inc

(d) 109,028

2,130

$

19,746

Mining

-

.26

%

Freeport-McMoRan

Inc

63,230

2,480

Newmont

Corp

48,376

4,078

$

6,558

Miscellaneous

Manufacturers

-

.61

%

3M

Co

23,456

3,640

A

O

Smith

Corp

5,031

Axon

Enterprise

Inc

(d) 3,456

2,480

Illinois

Tool

Works

Inc

11,683

3,047

Parker-Hannifin

Corp

5,628

4,267

Teledyne

Technologies

Inc

(d) 2,065

1,210

Textron

Inc

7,849

663

$

15,676

Office

&

Business

Equipment

-

.03

%

Zebra

Technologies

Corp

(d) 2,240

666

Oil

&

Gas

-

.27

%

APA

Corp

15,756

Chevron

Corp

84,756

13,162

ConocoPhillips

55,002

5,203

Coterra

Energy

Inc

33,609

795

Devon

Energy

Corp

27,957

980

Diamondback

Energy

Inc

8,285

1,185

EOG

Resources

Inc

24,046

2,696

EQT

Corp

27,482

1,496

Expand

Energy

Corp

10,486

1,114

Exxon

Mobil

Corp

187,749

21,169

Marathon

Petroleum

Corp

13,389

2,581

Occidental

Petroleum

Corp

31,647

1,495

Phillips

17,798

2,421

Texas

Pacific

Land

Corp

849

793

Valero

Energy

Corp

13,681

2,329

$

57,801

Oil

&

Gas

Services

-

.21

%

Baker

Hughes

Co

43,417

2,115

Halliburton

Co

37,549

924

Schlumberger

NV

65,704

2,258

$

5,297

Packaging

&

Containers

-

.13

%

Amcor

PLC

101,524

830

Ball

Corp

11,985

604

Packaging

Corp

of

America

3,936

858

Smurfit

WestRock

PLC

22,993

979

$

3,271

Pharmaceuticals

-

.08

%

AbbVie

Inc

77,798

18,013

Becton

Dickinson

&

Co

12,622

2,363

Bristol-Myers

Squibb

Co

89,639

4,043

Cardinal

Health

Inc

10,516

1,651

Cencora

Inc

8,537

2,668

CVS

Health

Corp

55,856

4,211

Dexcom

Inc

(d) 17,271

1,162

Eli

Lilly

&

Co

35,011

26,713

Henry

Schein

Inc

(d) 4,540

Johnson

&

Johnson

106,062

19,666

McKesson

Corp

5,478

4,232

Merck

&

Co

Inc

110,000

9,232

Pfizer

Inc

250,385

6,380

Viatris

Inc

51,345

508

Zoetis

Inc

19,518

2,856

$

103,999

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Pipelines

-

.37

%

Kinder

Morgan

Inc

86,114

$

2,438

ONEOK

Inc

27,733

2,023

Targa

Resources

Corp

9,477

1,588

Williams

Cos

Inc/The

53,780

3,407

$

9,456

Private

Equity

-

.37

%

Blackstone

Inc

32,460

5,546

KKR

&

Co

Inc

30,211

3,926

$

9,472

Real

Estate

-

.14

%

CBRE

Group

Inc

(d) 12,907

2,034

CoStar

Group

Inc

(d) 18,658

1,574

$

3,608

REITs

-

.77

%

Alexandria

Real

Estate

Equities

Inc

6,854

571

American

Tower

Corp

20,621

3,966

AvalonBay

Communities

Inc

6,262

1,210

BXP

Inc

6,485

Camden

Property

Trust

4,705

502

Crown

Castle

Inc

19,178

1,850

Digital

Realty

Trust

Inc

14,117

2,441

Equinix

Inc

4,310

3,376

Equity

Residential

15,303

991

Essex

Property

Trust

Inc

2,837

759

Extra

Space

Storage

Inc

9,348

1,317

Federal

Realty

Investment

Trust

3,456

Healthpeak

Properties

Inc

30,605

586

Host

Hotels

&

Resorts

Inc

28,160

Invitation

Homes

Inc

24,837

728

Iron

Mountain

Inc

13,007

1,326

Kimco

Realty

Corp

29,824

652

Mid-America

Apartment

Communities

Inc

5,156

720

Prologis

Inc

40,872

4,681

Public

Storage

6,955

2,009

Realty

Income

Corp

40,264

2,448

Regency

Centers

Corp

7,196

525

SBA

Communications

Corp

4,729

914

Simon

Property

Group

Inc

14,377

2,698

UDR

Inc

13,280

Ventas

Inc

20,013

1,401

VICI

Properties

Inc

46,961

1,531

Welltower

Inc

29,453

5,247

Weyerhaeuser

Co

31,775

788

$

45,043

Retail

-

.22

%

AutoZone

Inc

(d) 737

3,162

Best

Buy

Co

Inc

8,655

654

CarMax

Inc

(d) 6,609

Chipotle

Mexican

Grill

Inc

(d) 59,051

2,314

Costco

Wholesale

Corp

19,531

18,078

Darden

Restaurants

Inc

5,155

981

Dollar

General

Corp

9,692

1,002

Dollar

Tree

Inc

(d) 8,548

807

Domino's

Pizza

Inc

1,376

594

Genuine

Parts

Co

6,126

849

Home

Depot

Inc/The

43,817

17,754

Lowe's

Cos

Inc

24,682

6,203

Lululemon

Athletica

Inc

(d) 4,803

855

McDonald's

Corp

31,427

9,550

O'Reilly

Automotive

Inc

(d) 37,368

4,029

Ross

Stores

Inc

14,405

2,195

Starbucks

Corp

50,060

4,235

Target

Corp

20,011

1,795

TJX

Cos

Inc/The

49,132

7,101

Tractor

Supply

Co

23,339

1,327

Ulta

Beauty

Inc

(d) 1,980

1,083

Walmart

Inc

193,295

19,921

Williams-Sonoma

Inc

5,417

1,059

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Yum!

Brands

Inc

12,223

$

1,858

$

107,703

Semiconductors

-

.53

%

Advanced

Micro

Devices

Inc

(d) 71,469

11,563

Analog

Devices

Inc

21,854

5,370

Applied

Materials

Inc

35,341

7,236

Broadcom

Inc

207,136

68,336

Intel

Corp

(d) 192,758

6,467

KLA

Corp

5,812

6,269

Lam

Research

Corp

55,737

7,463

Microchip

Technology

Inc

23,768

1,526

Micron

Technology

Inc

49,286

8,247

Monolithic

Power

Systems

Inc

2,110

1,943

NVIDIA

Corp

1,074,544

200,488

NXP

Semiconductors

NV

11,104

2,529

ON

Semiconductor

Corp

(d) 18,012

888

QUALCOMM

Inc

47,498

7,902

Skyworks

Solutions

Inc

6,537

503

Teradyne

Inc

7,006

964

Texas

Instruments

Inc

40,038

7,356

$

345,050

Shipbuilding

-

.02

%

Huntington

Ingalls

Industries

Inc

1,729

Software

-

.93

%

Adobe

Inc

(d) 18,681

6,590

Akamai

Technologies

Inc

(d) 6,314

Autodesk

Inc

(d) 9,424

2,994

Broadridge

Financial

Solutions

Inc

5,158

1,228

Cadence

Design

Systems

Inc

(d) 12,000

4,215

Datadog

Inc

(d) 14,235

2,027

Dayforce

Inc

(d) 7,033

Electronic

Arts

Inc

9,918

2,000

Fair

Isaac

Corp

(d) 1,058

1,583

Fidelity

National

Information

Services

Inc

23,006

1,517

Fiserv

Inc

(d) 23,940

3,087

Intuit

Inc

12,285

8,390

Jack

Henry

&

Associates

Inc

3,207

Microsoft

Corp

327,347

169,549

MSCI

Inc

3,408

1,934

Oracle

Corp

72,980

20,525

Palantir

Technologies

Inc

(d) 100,155

18,270

Paychex

Inc

14,277

1,810

Paycom

Software

Inc

2,204

PTC

Inc

(d) 5,276

1,071

Roper

Technologies

Inc

4,740

2,364

Salesforce

Inc

42,102

9,978

ServiceNow

Inc

(d) 9,161

8,431

Synopsys

Inc

(d) 8,150

4,021

Take-Two

Interactive

Software

Inc

(d) 7,635

1,973

Tyler

Technologies

Inc

(d) 1,906

997

Workday

Inc

(d) 9,513

2,290

$

278,743

Telecommunications

-

.84

%

Arista

Networks

Inc

(d) 45,388

6,613

AT&T

Inc

314,895

8,893

Cisco

Systems

Inc

174,394

11,932

Corning

Inc

34,328

2,816

Motorola

Solutions

Inc

7,338

3,356

T-Mobile

US

Inc

21,311

5,101

Verizon

Communications

Inc

185,682

8,161

$

46,872

Toys,

Games

&

Hobbies

-

.02

%

Hasbro

Inc

5,866

Transportation

-

.79

%

CH

Robinson

Worldwide

Inc

5,201

689

CSX

Corp

82,101

2,915

Expeditors

International

of

Washington

Inc

5,977

733

FedEx

Corp

9,558

2,254

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Transportation

(continued)

JB

Hunt

Transport

Services

Inc

3,368

$

Norfolk

Southern

Corp

9,881

2,968

Old

Dominion

Freight

Line

Inc

8,146

1,147

Union

Pacific

Corp

26,118

6,173

United

Parcel

Service

Inc

32,415

2,708

$

20,039

Water

-

.05

%

American

Water

Works

Co

Inc

8,592

1,196

TOTAL

COMMON

STOCKS

$

2,512,258

Total

Investments

$

2,556,569

Other

Assets

and

Liabilities

- (0.27)%

(6,987)

TOTAL

NET

ASSETS

-

100.00%

$

2,549,582

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$539

or

0.02%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,503

or

0.37%

of

net

assets.

(f) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$526

or

0.02%

of

net

assets.

Schedule

of

Investments

LargeCap

S&P

500

Index

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

85,468

$

424,867

$

474,070

$

36,265

$

85,468

$

424,867

$

474,070

$

36,265

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

1,582

$

—

$

—

$

—

$

1,582

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

December

2025

Long

$

36,389

$

503

Total

$

503

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.01

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.34

%

iShares

Core

S&P

500

ETF

4,516

$

3,023

Money

Market

Funds

-

.67

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

12,789

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

6,010,245

6,010

$

6,023

TOTAL

INVESTMENT

COMPANIES

$

9,046

COMMON

STOCKS

-

.18

%

Shares

Held

Value

(000's)

Advertising

-

.08

%

Interpublic

Group

of

Cos

Inc/The

764

$

Omnicom

Group

Inc

Trade

Desk

Inc/The

(d) 929

$

Aerospace

&

Defense

-

.92

%

Boeing

Co/The

(d) 1,577

General

Dynamics

Corp

527

General

Electric

Co

2,211

665

Howmet

Aerospace

Inc

841

L3Harris

Technologies

Inc

Lockheed

Martin

Corp

Northrop

Grumman

Corp

RTX

Corp

2,791

TransDigm

Group

Inc

$

2,478

Agriculture

-

.65

%

Altria

Group

Inc

3,502

Archer-Daniels-Midland

Co

1,002

Bunge

Global

SA

Philip

Morris

International

Inc

3,245

526

$

841

Airlines

-

.14

%

Delta

Air

Lines

Inc

1,352

Southwest

Airlines

Co

1,095

United

Airlines

Holdings

Inc

(d) 675

$

Apparel

-

.22

%

Deckers

Outdoor

Corp

(d) 310

NIKE

Inc

2,475

Ralph

Lauren

Corp

Tapestry

Inc

$

Automobile

Manufacturers

-

.36

%

Cummins

Inc

Ford

Motor

Co

8,149

General

Motors

Co

1,985

PACCAR

Inc

1,094

Tesla

Inc

(d) 5,851

2,602

$

3,050

Automobile

Parts

&

Equipment

-

.03

%

Aptiv

PLC

(d) 453

Banks

-

.21

%

Bank

of

America

Corp

14,204

733

Bank

of

New

York

Mellon

Corp/The

1,471

Citigroup

Inc

3,837

Citizens

Financial

Group

Inc

899

Fifth

Third

Bancorp

1,380

Goldman

Sachs

Group

Inc/The

633

504

Huntington

Bancshares

Inc/OH

3,053

JPMorgan

Chase

&

Co

5,733

1,808

KeyCorp

1,943

M&T

Bank

Corp

Morgan

Stanley

2,530

Northern

Trust

Corp

PNC

Financial

Services

Group

Inc/The

821

Regions

Financial

Corp

1,861

State

Street

Corp

592

Truist

Financial

Corp

2,688

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

US

Bancorp

3,244

$

Wells

Fargo

&

Co

6,679

560

$

5,436

Beverages

-

.91

%

Brown-Forman

Corp

-

B

Shares

Coca-Cola

Co/The

8,074

535

Constellation

Brands

Inc

Keurig

Dr

Pepper

Inc

2,832

Molson

Coors

Beverage

Co

Monster

Beverage

Corp

(d) 1,484

PepsiCo

Inc

2,854

$

1,174

Biotechnology

-

.87

%

Amgen

Inc

1,122

Biogen

Inc

(d) 305

Corteva

Inc

1,416

Gilead

Sciences

Inc

2,587

Incyte

Corp

(d) 340

Moderna

Inc

(d) 720

Regeneron

Pharmaceuticals

Inc

Vertex

Pharmaceuticals

Inc

(d) 534

$

1,119

Building

Materials

-

.56

%

Builders

FirstSource

Inc

(d) 230

Carrier

Global

Corp

1,668

Johnson

Controls

International

plc

1,365

Lennox

International

Inc

Martin

Marietta

Materials

Inc

Masco

Corp

Mohawk

Industries

Inc

(d) 106

Trane

Technologies

PLC

Vulcan

Materials

Co

$

719

Chemicals

-

.93

%

Air

Products

and

Chemicals

Inc

Albemarle

Corp

CF

Industries

Holdings

Inc

Dow

Inc

1,480

DuPont

de

Nemours

Inc

873

Eastman

Chemical

Co

Ecolab

Inc

530

International

Flavors

&

Fragrances

Inc

535

Linde

PLC

979

LyondellBasell

Industries

NV

538

Mosaic

Co/The

664

PPG

Industries

Inc

Sherwin-Williams

Co/The

$

1,203

Commercial

Services

-

.24

%

Automatic

Data

Processing

Inc

845

Block

Inc

(d) 1,146

Cintas

Corp

714

Corpay

Inc

(d) 147

Equifax

Inc

Global

Payments

Inc

506

Moody's

Corp

PayPal

Holdings

Inc

(d) 1,992

Quanta

Services

Inc

Rollins

Inc

586

S&P

Global

Inc

653

United

Rentals

Inc

Verisk

Analytics

Inc

$

1,598

Computers

-

.59

%

Accenture

PLC

-

Class

A

1,298

Apple

Inc

30,936

7,877

Cognizant

Technology

Solutions

Corp

1,019

Crowdstrike

Holdings

Inc

(d) 521

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Computers

(continued)

Dell

Technologies

Inc

631

$

EPAM

Systems

Inc

(d) 116

Fortinet

Inc

(d) 1,356

Gartner

Inc

(d) 158

Hewlett

Packard

Enterprise

Co

2,736

HP

Inc

1,959

International

Business

Machines

Corp

1,942

548

Leidos

Holdings

Inc

NetApp

Inc

Seagate

Technology

Holdings

PLC

Super

Micro

Computer

Inc

(d) 1,046

Western

Digital

Corp

723

$

9,794

Consumer

Products

-

.15

%

Avery

Dennison

Corp

Church

&

Dwight

Co

Inc

508

Clorox

Co/The

Kimberly-Clark

Corp

692

$

Cosmetics

&

Personal

Care

-

.77

%

Colgate-Palmolive

Co

1,686

Estee

Lauder

Cos

Inc/The

Kenvue

Inc

4,001

Procter

&

Gamble

Co/The

4,883

750

$

993

Distribution

&

Wholesale

-

.25

%

Copart

Inc

(d) 1,853

Fastenal

Co

2,393

LKQ

Corp

539

Pool

Corp

WW

Grainger

Inc

$

Diversified

Financial

Services

-

.66

%

American

Express

Co

1,130

Ameriprise

Financial

Inc

Apollo

Global

Management

Inc

957

Blackrock

Inc

Capital

One

Financial

Corp

1,334

Cboe

Global

Markets

Inc

Charles

Schwab

Corp/The

3,557

CME

Group

Inc

751

Coinbase

Global

Inc

(d) 469

Franklin

Resources

Inc

638

Interactive

Brokers

Group

Inc

-

A

Shares

926

Intercontinental

Exchange

Inc

1,194

Invesco

Ltd

930

Mastercard

Inc

1,721

979

Nasdaq

Inc

944

Raymond

James

Financial

Inc

Synchrony

Financial

775

T

Rowe

Price

Group

Inc

Visa

Inc

3,542

1,209

$

4,727

Electric

-

.04

%

AES

Corp/The

1,490

Alliant

Energy

Corp

535

Ameren

Corp

563

American

Electric

Power

Co

Inc

1,114

CenterPoint

Energy

Inc

1,361

CMS

Energy

Corp

625

Consolidated

Edison

Inc

753

Constellation

Energy

Corp

651

Dominion

Energy

Inc

1,780

DTE

Energy

Co

Duke

Energy

Corp

1,621

Edison

International

803

Entergy

Corp

931

Evergy

Inc

Eversource

Energy

772

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electric

(continued)

Exelon

Corp

2,106

$

FirstEnergy

Corp

1,082

NextEra

Energy

Inc

4,293

NRG

Energy

Inc

PG&E

Corp

4,581

Pinnacle

West

Capital

Corp

PPL

Corp

1,542

Public

Service

Enterprise

Group

Inc

1,041

Sempra

1,361

Southern

Co/The

2,293

Vistra

Corp

664

WEC

Energy

Group

Inc

669

Xcel

Energy

Inc

1,232

$

2,637

Electrical

Components

&

Equipment

-

.44

%

AMETEK

Inc

Eaton

Corp

PLC

811

Emerson

Electric

Co

1,173

Generac

Holdings

Inc

(d) 122

$

568

Electronics

-

.88

%

Allegion

plc

Amphenol

Corp

2,544

Fortive

Corp

705

Garmin

Ltd

Honeywell

International

Inc

1,324

Hubbell

Inc

Jabil

Inc

Keysight

Technologies

Inc

(d) 359

Mettler-Toledo

International

Inc

(d) 44

TE

Connectivity

PLC

616

Trimble

Inc

(d) 496

$

1,132

Energy

-

Alternate

Sources

-

.04

%

First

Solar

Inc

(d) 223

Engineering

&

Construction

-

.08

%

EMCOR

Group

Inc

Jacobs

Solutions

Inc

$

Entertainment

-

.06

%

Live

Nation

Entertainment

Inc

(d) 328

TKO

Group

Holdings

Inc

$

Environmental

Control

-

.28

%

Pentair

PLC

Republic

Services

Inc

Veralto

Corp

518

Waste

Management

Inc

771

$

Food

-

.54

%

Campbell's

Company/The

(e) 411

Conagra

Brands

Inc

999

General

Mills

Inc

1,115

Hershey

Co/The

Hormel

Foods

Corp

610

J

M

Smucker

Co/The

Kellanova

562

Kraft

Heinz

Co/The

1,777

Kroger

Co/The

1,268

Lamb

Weston

Holdings

Inc

McCormick

&

Co

Inc/MD

528

Mondelez

International

Inc

2,698

Sysco

Corp

995

Tyson

Foods

Inc

596

$

697

Forest

Products

&

Paper

-

.04

%

International

Paper

Co

1,101

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Gas

-

.08

%

Atmos

Energy

Corp

$

NiSource

Inc

983

$

Hand

&

Machine

Tools

-

.05

%

Snap-on

Inc

Stanley

Black

&

Decker

Inc

$

Healthcare

-

Products

-

.40

%

Abbott

Laboratories

3,628

Agilent

Technologies

Inc

592

Align

Technology

Inc

(d) 140

Baxter

International

Inc

1,070

Bio-Techne

Corp

Boston

Scientific

Corp

(d) 3,090

Cooper

Cos

Inc/The

(d) 416

Danaher

Corp

1,329

Edwards

Lifesciences

Corp

(d) 1,224

GE

HealthCare

Technologies

Inc

952

Hologic

Inc

(d) 463

IDEXX

Laboratories

Inc

(d) 168

Insulet

Corp

(d) 146

Intuitive

Surgical

Inc

(d) 748

Medtronic

PLC

2,672

ResMed

Inc

Revvity

Inc

Solventum

Corp

(d) 306

STERIS

PLC

Stryker

Corp

717

Thermo

Fisher

Scientific

Inc

788

Waters

Corp

(d) 124

West

Pharmaceutical

Services

Inc

Zimmer

Biomet

Holdings

Inc

$

3,097

Healthcare

-

Services

-

.12

%

Centene

Corp

(d) 973

Charles

River

Laboratories

International

Inc

(d) 102

Cigna

Group/The

557

DaVita

Inc

(d) 74

Elevance

Health

Inc

HCA

Healthcare

Inc

Humana

Inc

IQVIA

Holdings

Inc

(d) 352

Labcorp

Holdings

Inc

Molina

Healthcare

Inc

(d) 111

Quest

Diagnostics

Inc

UnitedHealth

Group

Inc

1,889

652

Universal

Health

Services

Inc

$

1,443

Home

Builders

-

.20

%

DR

Horton

Inc

577

Lennar

Corp

-

A

Shares

NVR

Inc

(d) 6

PulteGroup

Inc

$

Insurance

-

.21

%

Aflac

Inc

1,003

Allstate

Corp/The

549

American

International

Group

Inc

1,154

Aon

PLC

Arch

Capital

Group

Ltd

775

Arthur

J

Gallagher

&

Co

534

Assurant

Inc

Berkshire

Hathaway

Inc

-

Class

B

(d) 3,824

1,923

Brown

&

Brown

Inc

609

Chubb

Ltd

774

Cincinnati

Financial

Corp

Erie

Indemnity

Co

Everest

Group

Ltd

Globe

Life

Inc

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Hartford

Insurance

Group

Inc/The

586

$

Loews

Corp

Marsh

&

McLennan

Cos

Inc

1,025

MetLife

Inc

1,164

Principal

Financial

Group

Inc

Progressive

Corp/The

1,223

Prudential

Financial

Inc

734

Travelers

Cos

Inc/The

W

R

Berkley

Corp

625

Willis

Towers

Watson

PLC

$

4,139

Internet

-

.81

%

Airbnb

Inc

(d) 894

Alphabet

Inc

-

A

Shares

12,126

2,948

Alphabet

Inc

-

C

Shares

9,735

2,371

Amazon.com

Inc

(d) 20,229

4,442

AppLovin

Corp

(d) 564

Booking

Holdings

Inc

CDW

Corp/DE

DoorDash

Inc

-

Class

A

(d) 770

eBay

Inc

952

Expedia

Group

Inc

F5

Inc

(d) 119

Gen

Digital

Inc

1,166

GoDaddy

Inc

(d) 288

Match

Group

Inc

501

Meta

Platforms

Inc

4,522

3,321

Netflix

Inc

(d) 887

1,063

Palo

Alto

Networks

Inc

(d) 1,391

Robinhood

Markets

Inc

(d) 1,612

Uber

Technologies

Inc

(d) 4,347

VeriSign

Inc

$

16,535

Iron

&

Steel

-

.08

%

Nucor

Corp

Steel

Dynamics

Inc

$

Leisure

Products

&

Services

-

.20

%

Carnival

Corp

(d) 2,262

Norwegian

Cruise

Line

Holdings

Ltd

(d) 941

Royal

Caribbean

Cruises

Ltd

525

$

Lodging

-

.25

%

Hilton

Worldwide

Holdings

Inc

Las

Vegas

Sands

Corp

644

Marriott

International

Inc/MD

MGM

Resorts

International

(d) 425

Wynn

Resorts

Ltd

$

Machinery

-

Construction

&

Mining

-

.63

%

Caterpillar

Inc

978

GE

Vernova

Inc

568

$

816

Machinery

-

Diversified

-

.55

%

Deere

&

Co

527

Dover

Corp

IDEX

Corp

Ingersoll

Rand

Inc

754

Nordson

Corp

Otis

Worldwide

Corp

818

Rockwell

Automation

Inc

Westinghouse

Air

Brake

Technologies

Corp

Xylem

Inc/NY

507

$

705

Media

-

.72

%

Charter

Communications

Inc

(d) 194

Comcast

Corp

-

Class

A

7,676

FactSet

Research

Systems

Inc

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Media

(continued)

Fox

Corp

-

A

Shares

$

Fox

Corp

-

B

Shares

News

Corp

-

A

Shares

785

News

Corp

-

B

Shares

Paramount

Skydance

Corp

649

Walt

Disney

Co/The

3,748

Warner

Bros

Discovery

Inc

(d) 5,159

$

935

Mining

-

.24

%

Freeport-McMoRan

Inc

2,993

Newmont

Corp

2,290

$

Miscellaneous

Manufacturers

-

.58

%

3M

Co

1,110

A

O

Smith

Corp

Axon

Enterprise

Inc

(d) 163

Illinois

Tool

Works

Inc

553

Parker-Hannifin

Corp

Teledyne

Technologies

Inc

(d) 99

Textron

Inc

$

743

Office

&

Business

Equipment

-

.02

%

Zebra

Technologies

Corp

(d) 106

Oil

&

Gas

-

.12

%

APA

Corp

745

Chevron

Corp

4,012

623

ConocoPhillips

2,605

Coterra

Energy

Inc

1,591

Devon

Energy

Corp

1,324

Diamondback

Energy

Inc

EOG

Resources

Inc

1,138

EQT

Corp

1,300

Expand

Energy

Corp

Exxon

Mobil

Corp

8,887

1,002

Marathon

Petroleum

Corp

633

Occidental

Petroleum

Corp

1,496

Phillips

843

Texas

Pacific

Land

Corp

Valero

Energy

Corp

648

$

2,736

Oil

&

Gas

Services

-

.19

%

Baker

Hughes

Co

2,056

Halliburton

Co

1,778

Schlumberger

NV

3,111

$

Packaging

&

Containers

-

.12

%

Amcor

PLC

4,803

Ball

Corp

567

Packaging

Corp

of

America

Smurfit

WestRock

PLC

1,087

$

Pharmaceuticals

-

.81

%

AbbVie

Inc

3,683

853

Becton

Dickinson

&

Co

598

Bristol-Myers

Squibb

Co

4,243

Cardinal

Health

Inc

Cencora

Inc

CVS

Health

Corp

2,644

Dexcom

Inc

(d) 817

Eli

Lilly

&

Co

1,656

1,264

Henry

Schein

Inc

(d) 215

Johnson

&

Johnson

5,021

931

McKesson

Corp

Merck

&

Co

Inc

5,208

Pfizer

Inc

11,852

Viatris

Inc

2,430

Zoetis

Inc

924

$

4,922

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Pipelines

-

.35

%

Kinder

Morgan

Inc

4,075

$

ONEOK

Inc

1,311

Targa

Resources

Corp

Williams

Cos

Inc/The

2,546

$

Private

Equity

-

.35

%

Blackstone

Inc

1,535

KKR

&

Co

Inc

1,429

$

Real

Estate

-

.13

%

CBRE

Group

Inc

(d) 611

CoStar

Group

Inc

(d) 882

$

REITs

-

.65

%

Alexandria

Real

Estate

Equities

Inc

American

Tower

Corp

976

AvalonBay

Communities

Inc

BXP

Inc

Camden

Property

Trust

Crown

Castle

Inc

908

Digital

Realty

Trust

Inc

667

Equinix

Inc

Equity

Residential

723

Essex

Property

Trust

Inc

Extra

Space

Storage

Inc

Federal

Realty

Investment

Trust

Healthpeak

Properties

Inc

1,449

Host

Hotels

&

Resorts

Inc

1,334

Invitation

Homes

Inc

1,176

Iron

Mountain

Inc

617

Kimco

Realty

Corp

1,412

Mid-America

Apartment

Communities

Inc

Prologis

Inc

1,936

Public

Storage

Realty

Income

Corp

1,904

Regency

Centers

Corp

SBA

Communications

Corp

Simon

Property

Group

Inc

679

UDR

Inc

631

Ventas

Inc

946

VICI

Properties

Inc

2,221

Welltower

Inc

1,393

Weyerhaeuser

Co

1,505

$

2,131

Retail

-

.95

%

AutoZone

Inc

(d) 35

Best

Buy

Co

Inc

CarMax

Inc

(d) 313

Chipotle

Mexican

Grill

Inc

(d) 2,796

Costco

Wholesale

Corp

925

856

Darden

Restaurants

Inc

Dollar

General

Corp

Dollar

Tree

Inc

(d) 405

Domino's

Pizza

Inc

Genuine

Parts

Co

Home

Depot

Inc/The

2,076

841

Lowe's

Cos

Inc

1,168

Lululemon

Athletica

Inc

(d) 227

McDonald's

Corp

1,488

O'Reilly

Automotive

Inc

(d) 1,769

Ross

Stores

Inc

682

Starbucks

Corp

2,370

Target

Corp

948

TJX

Cos

Inc/The

2,326

Tractor

Supply

Co

1,105

Ulta

Beauty

Inc

(d) 95

Walmart

Inc

9,148

943

Williams-Sonoma

Inc

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Yum!

Brands

Inc

579

$

$

5,101

Semiconductors

-

.66

%

Advanced

Micro

Devices

Inc

(d) 3,382

547

Analog

Devices

Inc

1,034

Applied

Materials

Inc

1,672

Broadcom

Inc

9,805

3,235

Intel

Corp

(d) 9,124

KLA

Corp

Lam

Research

Corp

2,639

Microchip

Technology

Inc

1,126

Micron

Technology

Inc

2,333

Monolithic

Power

Systems

Inc

NVIDIA

Corp

50,864

9,490

NXP

Semiconductors

NV

526

ON

Semiconductor

Corp

(d) 852

QUALCOMM

Inc

2,249

Skyworks

Solutions

Inc

Teradyne

Inc

Texas

Instruments

Inc

1,896

$

16,335

Shipbuilding

-

.02

%

Huntington

Ingalls

Industries

Inc

Software

-

.23

%

Adobe

Inc

(d) 883

Akamai

Technologies

Inc

(d) 298

Autodesk

Inc

(d) 446

Broadridge

Financial

Solutions

Inc

Cadence

Design

Systems

Inc

(d) 568

Datadog

Inc

(d) 672

Dayforce

Inc

(d) 333

Electronic

Arts

Inc

Fair

Isaac

Corp

(d) 51

Fidelity

National

Information

Services

Inc

1,090

Fiserv

Inc

(d) 1,133

Intuit

Inc

583

Jack

Henry

&

Associates

Inc

Microsoft

Corp

(f) 15,496

8,026

MSCI

Inc

Oracle

Corp

3,453

971

Palantir

Technologies

Inc

(d) 4,739

864

Paychex

Inc

674

Paycom

Software

Inc

PTC

Inc

(d) 249

Roper

Technologies

Inc

Salesforce

Inc

1,993

ServiceNow

Inc

(d) 435

Synopsys

Inc

(d) 387

Take-Two

Interactive

Software

Inc

(d) 359

Tyler

Technologies

Inc

(d) 91

Workday

Inc

(d) 451

$

13,197

Telecommunications

-

.72

%

Arista

Networks

Inc

(d) 2,148

AT&T

Inc

14,905

Cisco

Systems

Inc

8,255

565

Corning

Inc

1,623

Motorola

Solutions

Inc

T-Mobile

US

Inc

1,007

Verizon

Communications

Inc

8,790

$

2,219

Toys,

Games

&

Hobbies

-

.02

%

Hasbro

Inc

Transportation

-

.74

%

CH

Robinson

Worldwide

Inc

CSX

Corp

3,886

Expeditors

International

of

Washington

Inc

FedEx

Corp

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Transportation

(continued)

JB

Hunt

Transport

Services

Inc

$

Norfolk

Southern

Corp

Old

Dominion

Freight

Line

Inc

Union

Pacific

Corp

1,236

United

Parcel

Service

Inc

1,535

$

949

Water

-

.04

%

American

Water

Works

Co

Inc

TOTAL

COMMON

STOCKS

$

118,938

TOTAL

PURCHASED

OPTIONS

-

0.14%

$

Total

Investments

$

128,162

Other

Assets

and

Liabilities

- 0.67%

870

TOTAL

NET

ASSETS

-

100.00%

$

129,032

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13

or

0.01%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13

or

0.01%

of

net

assets.

(f) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,473

or

1.92%

of

net

assets.

Schedule

of

Investments

LargeCap

S&P

500

Managed

Volatility

Index

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

10,999

$

36,465

$

41,454

$

6,010

$

10,999

$

36,465

$

41,454

$

6,010

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

S&P

500

Index

N/A

$

$

6,450

.00

10/17/2025

$

$

$

(169)

Total

$

$

$

(169)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

S&P

500

Index

N/A

$

$

6,350

.00

10/17/2025

$

(239)

$

(115)

$

Total

$

(239)

$

(115)

$

Amounts

in

thousands

except

contracts/shares.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

December

2025

Long

$

1,348

$

Total

$

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.63

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.63

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

1,842,734

$

1,843

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

2,200,579

2,201

$

4,044

TOTAL

INVESTMENT

COMPANIES

$

4,044

COMMON

STOCKS

-

.73

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.40

%

HEICO

Corp

-

Class

A

134,587

$

34,197

TransDigm

Group

Inc

24,747

32,617

$

66,814

Building

Materials

-

.02

%

Eagle

Materials

Inc

4,380

1,021

Martin

Marietta

Materials

Inc

31,354

19,762

Vulcan

Materials

Co

100,037

30,773

$

51,556

Chemicals

-

.65

%

Air

Products

and

Chemicals

Inc

18,288

4,988

Perimeter

Solutions

Inc

(d) 156,314

3,500

Sherwin-Williams

Co/The

6,028

2,087

$

10,575

Commercial

Services

-

.74

%

Ashtead

Group

PLC

ADR

8,586

2,305

Moody's

Corp

3,776

1,799

Toast

Inc

(d) 87,614

3,199

Verisk

Analytics

Inc

15,301

3,849

$

11,152

Distribution

&

Wholesale

-

.81

%

Copart

Inc

(d) 510,787

22,970

Fastenal

Co

161,666

7,928

$

30,898

Diversified

Financial

Services

-

.70

%

Ares

Management

Corp

51,805

8,283

Brookfield

Asset

Management

Ltd

96,821

5,513

Brookfield

Wealth

Solutions

Ltd

(d) 3,667

LPL

Financial

Holdings

Inc

29,193

9,712

$

23,759

Electric

-

.71

%

Brookfield

Infrastructure

Partners

LP

537,482

17,678

Brookfield

Renewable

Corp

(e) 48,263

1,661

Brookfield

Renewable

Partners

LP

174,312

4,496

$

23,835

Electrical

Components

&

Equipment

-

.76

%

AMETEK

Inc

26,135

4,913

Electronics

-

.87

%

Mettler-Toledo

International

Inc

(d) 4,546

5,581

Entertainment

-

.01

%

Liberty

Media

Corp-Liberty

Live

-

A

Shares

(d) 6,374

601

Liberty

Media

Corp-Liberty

Live

-

C

Shares

(d),(e)

23,664

2,295

Live

Nation

Entertainment

Inc

(d) 140,153

22,901

$

25,797

Environmental

Control

-

.96

%

Veralto

Corp

12,040

1,284

Waste

Connections

Inc

27,631

4,857

$

6,141

Healthcare

-

Products

-

.92

%

IDEXX

Laboratories

Inc

(d) 14,038

8,969

Waters

Corp

(d) 11,324

3,395

$

12,364

Home

Builders

-

.05

%

Lennar

Corp

-

A

Shares

43,538

5,487

Lennar

Corp

-

B

Shares

966

NVR

Inc

(d) 942

7,569

$

13,172

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

-

.68

%

Arch

Capital

Group

Ltd

69,932

$

6,345

Arthur

J

Gallagher

&

Co

31,525

9,764

Brown

&

Brown

Inc

229,938

21,566

Markel

Group

Inc

(d) 7,987

15,266

Progressive

Corp/The

1,328

Ryan

Specialty

Holdings

Inc

60,467

3,408

W

R

Berkley

Corp

71,824

5,503

$

62,180

Internet

-

.38

%

Wix.com

Ltd

(d) 13,921

2,473

Lodging

-

.64

%

Hilton

Worldwide

Holdings

Inc

112,926

29,297

Hyatt

Hotels

Corp

49,186

6,981

$

36,278

Machinery

-

Diversified

-

.40

%

Graco

Inc

30,105

2,558

Media

-

.95

%

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d) 11,007

1,048

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d) 109,772

11,466

$

12,514

Private

Equity

-

.80

%

Brookfield

Corp

459,089

31,484

KKR

&

Co

Inc

192,834

25,059

$

56,543

Real

Estate

-

.09

%

CBRE

Group

Inc

(d) 134,399

21,176

CoStar

Group

Inc

(d) 212,639

17,940

$

39,116

REITs

-

.10

%

Millrose

Properties

Inc

19,973

671

Retail

-

.98

%

Domino's

Pizza

Inc

23,522

10,155

Floor

&

Decor

Holdings

Inc

(d) 89,424

6,590

O'Reilly

Automotive

Inc

(d) 283,337

30,547

Ross

Stores

Inc

26,403

4,023

$

51,315

Semiconductors

-

.08

%

Entegris

Inc

75,195

6,953

Software

-

.03

%

Appfolio

Inc

(d) 15,883

4,378

CCC

Intelligent

Solutions

Holdings

Inc

(d) 552,856

5,037

Constellation

Software

Inc/Canada

3,678

9,993

Constellation

Software

Inc/Canada

-

Warrants

(d),(f)

4,165

—

Fair

Isaac

Corp

(d) 4,935

7,385

Jack

Henry

&

Associates

Inc

3,747

558

Lumine

Group

Inc

(d) 7,913

MSCI

Inc

22,219

12,607

Procore

Technologies

Inc

(d) 48,080

3,506

Roper

Technologies

Inc

25,187

12,561

Synopsys

Inc

(d) 2,336

1,153

Topicus.com

Inc

(d) 13,175

1,416

Tyler

Technologies

Inc

(d) 19,380

10,139

Veeva

Systems

Inc

(d) 49,522

14,753

$

83,716

TOTAL

COMMON

STOCKS

$

640,874

Total

Investments

$

644,918

Other

Assets

and

Liabilities

- (0.36)%

(2,289)

TOTAL

NET

ASSETS

-

100.00%

$

642,629

Schedule

of

Investments

MidCap

Account

September

30,

2025

(unaudited)

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,843

or

0.29%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,788

or

0.28%

of

net

assets.

(f) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

1,386

$

81,495

$

80,680

$

2,201

$

1,386

$

81,495

$

80,680

$

2,201

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Principal

Capital

Appreciation

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.52

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.52

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

1,289,190

$

1,289

TOTAL

INVESTMENT

COMPANIES

$

1,289

COMMON

STOCKS

-

.75

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.10

%

Boeing

Co/The

(c) 5,365

$

1,158

RTX

Corp

9,405

1,574

$

2,732

Apparel

-

.82

%

Birkenstock

Holding

Plc

(c) 29,020

1,313

Deckers

Outdoor

Corp

(c) 7,012

711

$

2,024

Automobile

Manufacturers

-

.51

%

Cummins

Inc

3,246

1,371

PACCAR

Inc

8,474

833

Tesla

Inc

(c) 9,075

4,036

$

6,240

Banks

-

.34

%

East

West

Bancorp

Inc

12,987

1,382

JPMorgan

Chase

&

Co

27,064

8,537

Morgan

Stanley

10,824

1,721

PNC

Financial

Services

Group

Inc/The

3,735

750

Wintrust

Financial

Corp

6,611

876

$

13,266

Biotechnology

-

.45

%

Corteva

Inc

27,507

1,860

Vertex

Pharmaceuticals

Inc

(c) 4,449

1,743

$

3,603

Building

Materials

-

.73

%

CRH

PLC

18,860

2,261

Modine

Manufacturing

Co

(c) 3,516

500

Trane

Technologies

PLC

3,650

1,540

$

4,301

Chemicals

-

.84

%

Linde

PLC

4,402

2,091

Commercial

Services

-

.39

%

Service

Corp

International/US

11,744

977

Computers

-

.83

%

Apple

Inc

54,843

13,964

Western

Digital

Corp

4,254

511

$

14,475

Cosmetics

&

Personal

Care

-

.87

%

Procter

&

Gamble

Co/The

14,012

2,153

Diversified

Financial

Services

-

.40

%

Ameriprise

Financial

Inc

4,562

2,241

Nasdaq

Inc

27,030

2,391

Visa

Inc

18,409

6,284

$

10,916

Electric

-

.79

%

Constellation

Energy

Corp

9,485

3,121

NRG

Energy

Inc

8,215

1,331

$

4,452

Electrical

Components

&

Equipment

-

.75

%

Eaton

Corp

PLC

4,947

1,852

Energy

-

Alternate

Sources

-

.40

%

NEXTracker

Inc

(c) 13,534

1,001

Environmental

Control

-

.30

%

Republic

Services

Inc

14,011

3,215

Gas

-

.46

%

Atmos

Energy

Corp

6,641

1,134

Healthcare

-

Products

-

.51

%

Abbott

Laboratories

13,129

1,758

Thermo

Fisher

Scientific

Inc

4,115

1,996

$

3,754

Healthcare

-

Services

-

.61

%

HCA

Healthcare

Inc

3,540

1,509

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Home

Builders

-

.87

%

DR

Horton

Inc

12,699

$

2,152

Insurance

-

.49

%

Berkshire

Hathaway

Inc

-

Class

B

(c) 6,405

3,220

Marsh

&

McLennan

Cos

Inc

7,135

1,438

Progressive

Corp/The

6,170

1,524

$

6,182

Internet

-

.10

%

Alphabet

Inc

-

A

Shares

49,189

11,958

Amazon.com

Inc

(c) 38,865

8,534

AppLovin

Corp

(c) 1,459

1,048

Meta

Platforms

Inc

9,926

7,289

Netflix

Inc

(c) 949

1,138

Palo

Alto

Networks

Inc

(c) 13,718

2,793

Reddit

Inc

(c) 7,530

1,732

Shopify

Inc

(c) 14,015

2,083

Spotify

Technology

SA

(c) 1,728

1,206

Uber

Technologies

Inc

(c) 22,333

2,188

$

39,969

Investment

Companies

-

.24

%

Riot

Platforms

Inc

(c) 31,373

597

Machinery

-

Construction

&

Mining

-

.61

%

BWX

Technologies

Inc

4,106

757

Caterpillar

Inc

1,223

583

GE

Vernova

Inc

4,322

2,658

$

3,998

Machinery

-

Diversified

-

.38

%

Deere

&

Co

2,052

938

Media

-

.55

%

Nexstar

Media

Group

Inc

6,891

1,363

Mining

-

.54

%

Cameco

Corp

15,817

1,326

Miscellaneous

Manufacturers

-

.92

%

Parker-Hannifin

Corp

3,012

2,284

Oil

&

Gas

-

.43

%

Expand

Energy

Corp

9,349

993

Exxon

Mobil

Corp

17,305

1,951

Marathon

Petroleum

Corp

14,861

2,865

Permian

Resources

Corp

18,071

$

6,040

Pharmaceuticals

-

.82

%

AbbVie

Inc

11,530

2,670

BellRing

Brands

Inc

(c) 9,220

Eli

Lilly

&

Co

2,945

2,247

McKesson

Corp

4,837

3,737

Novartis

AG

ADR

23,127

2,966

$

11,955

Pipelines

-

.92

%

Kinder

Morgan

Inc

80,885

2,290

Private

Equity

-

.92

%

KKR

&

Co

Inc

17,541

2,280

REITs

-

.71

%

Equinix

Inc

1,860

1,457

Extra

Space

Storage

Inc

5,049

711

Regency

Centers

Corp

28,598

2,085

$

4,253

Retail

-

.16

%

Casey's

General

Stores

Inc

6,978

3,945

Costco

Wholesale

Corp

3,387

3,135

Domino's

Pizza

Inc

2,350

1,014

O'Reilly

Automotive

Inc

(c) 24,840

2,678

TJX

Cos

Inc/The

25,817

3,732

Tractor

Supply

Co

13,785

784

$

15,288

Semiconductors

-

.65

%

Broadcom

Inc

24,186

7,979

KLA

Corp

2,193

2,365

Lam

Research

Corp

22,318

2,989

Schedule

of

Investments

Principal

Capital

Appreciation

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Semiconductors

(continued)

NVIDIA

Corp

95,416

$

17,803

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

9,847

2,750

$

33,886

Software

-

.38

%

Adobe

Inc

(c) 1,076

Broadridge

Financial

Solutions

Inc

9,254

2,204

Cloudflare

Inc

(c) 7,630

1,637

Datadog

Inc

(c) 5,238

746

Fair

Isaac

Corp

(c) 636

952

Microsoft

Corp

31,592

16,363

Salesforce

Inc

3,615

857

ServiceNow

Inc

(c) 1,302

1,198

Twilio

Inc

(c) 4,762

Workday

Inc

(c) 3,951

951

$

25,764

Telecommunications

-

.96

%

Arista

Networks

Inc

(c) 16,148

2,353

Motorola

Solutions

Inc

4,527

2,070

T-Mobile

US

Inc

12,241

2,930

$

7,353

TOTAL

COMMON

STOCKS

$

247,613

Total

Investments

$

248,902

Other

Assets

and

Liabilities

- (0.27)%

(659)

TOTAL

NET

ASSETS

-

100.00%

$

248,243

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

4,286

$

43,276

$

46,273

$

1,289

$

4,286

$

43,276

$

46,273

$

1,289

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2020

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.27

%

Blue

Chip

Fund

(a) 132,196

$

6,776

Core

Fixed

Income

Fund

(a) 5,322,383

46,464

Diversified

Real

Asset

Fund

(a) 48,128

582

Global

Emerging

Markets

Fund

(a) 82,715

2,815

High

Yield

Fund

(a) 1,216,298

8,222

International

Equity

Fund

(a) 986,621

15,944

International

Small

Company

Fund

(a) 62,854

798

LargeCap

Growth

Fund

I

(a) 386,599

7,172

MidCap

Fund

(a) 29,869

1,413

Real

Estate

Securities

Fund

(a) 83,013

2,372

SmallCap

Fund

(a) 71,946

2,268

SmallCap

S&P

600

Index

Fund

(a) 24,553

657

Small-MidCap

Dividend

Income

Fund

(a) 76,981

1,524

$

97,007

Principal

Funds,

Inc.

Institutional

Class

-

.73

%

Equity

Income

Fund

(a) 154,657

6,661

Inflation

Protection

Fund

(a) 911,387

7,327

LargeCap

S&P

500

Index

Fund

(a) 235,831

7,660

LargeCap

Value

Fund

III

(a) 314,573

6,471

Short-Term

Income

Fund

(a) 1,569,855

19,074

$

47,193

TOTAL

INVESTMENT

COMPANIES

$

144,200

Total

Investments

$

144,200

Other

Assets

and

Liabilities

- 0.00%

(6)

TOTAL

NET

ASSETS

-

100.00%

$

144,194

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Principal

LifeTime

2020

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

7,740

$

$

2,189

$

6,776

Core

Fixed

Income

Fund

46,291

7,366

8,693

46,464

Diversified

International

Fund

13,650

585

15,157

—

Diversified

Real

Asset

Fund

590

582

Equity

Income

Fund

6,793

734

1,523

6,661

Global

Emerging

Markets

Fund

1,504

1,137

2,815

High

Income

Fund

1,045

1,249

—

High

Yield

Fund

8,635

2,602

2,878

8,222

High

Yield

Fund

-

Institutional

Class

—

1,208

1,208

—

Inflation

Protection

Fund

7,483

904

1,549

7,327

International

Equity

Fund

—

16,356

2,980

15,944

International

Small

Company

Fund

997

650

798

LargeCap

Growth

Fund

I

7,746

1,854

7,172

LargeCap

S&P

500

Index

Fund

7,917

1,760

7,660

LargeCap

Value

Fund

III

6,831

635

1,517

6,471

MidCap

Fund

1,844

670

1,413

Real

Estate

Securities

Fund

2,576

519

2,372

Short-Term

Income

Fund

19,247

3,142

3,587

19,074

SmallCap

Fund

2,623

810

2,268

SmallCap

S&P

600

Index

Fund

657

Small-MidCap

Dividend

Income

Fund

1,599

1,524

$

145,437

$

37,787

$

49,723

$

144,200

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

704

$

—

$

Core

Fixed

Income

Fund

1,310

—

1,497

Diversified

International

Fund

—

(1,564)

2,486

Diversified

Real

Asset

Fund

(7)

—

Equity

Income

Fund

—

656

Global

Emerging

Markets

Fund

—

—

High

Income

Fund

(5)

—

High

Yield

Fund

(16)

—

(121)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

Inflation

Protection

Fund

—

(24)

—

513

International

Equity

Fund

—

—

2,401

International

Small

Company

Fund

—

(23)

—

LargeCap

Growth

Fund

I

—

(9)

—

792

LargeCap

S&P

500

Index

Fund

—

—

624

LargeCap

Value

Fund

III

—

—

MidCap

Fund

—

—

Real

Estate

Securities

Fund

(14)

—

Short-Term

Income

Fund

563

—

SmallCap

Fund

—

(4)

—

SmallCap

S&P

600

Index

Fund

—

(2)

—

Small-MidCap

Dividend

Income

Fund

(3)

—

$

2,495

$

(351)

$

$

11,050

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Principal

LifeTime

2030

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.94

%

Blue

Chip

Fund

(a) 417,193

$

21,385

Core

Fixed

Income

Fund

(a) 10,462,772

91,340

Diversified

Real

Asset

Fund

(a) 129,359

1,565

Global

Emerging

Markets

Fund

(a) 258,007

8,780

High

Yield

Fund

(a) 2,167,857

14,655

International

Equity

Fund

(a) 3,077,820

49,738

International

Small

Company

Fund

(a) 201,060

2,554

LargeCap

Growth

Fund

I

(a) 1,217,748

22,589

MidCap

Fund

(a) 95,777

4,531

Real

Estate

Securities

Fund

(a) 194,286

5,551

SmallCap

Fund

(a) 237,383

7,482

SmallCap

S&P

600

Index

Fund

(a) 66,108

1,769

Small-MidCap

Dividend

Income

Fund

(a) 246,330

4,877

$

236,816

Principal

Funds,

Inc.

Institutional

Class

-

.06

%

Equity

Income

Fund

(a) 489,254

21,072

Inflation

Protection

Fund

(a) 1,521,067

12,230

LargeCap

S&P

500

Index

Fund

(a) 711,727

23,117

LargeCap

Value

Fund

III

(a) 996,216

20,492

Short-Term

Income

Fund

(a) 1,273,406

15,472

$

92,383

TOTAL

INVESTMENT

COMPANIES

$

329,199

Total

Investments

$

329,199

Other

Assets

and

Liabilities

- 0.00%

(7)

TOTAL

NET

ASSETS

-

100.00%

$

329,192

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Principal

LifeTime

2030

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

22,069

$

1,735

$

4,641

$

21,385

Core

Fixed

Income

Fund

81,727

15,375

8,568

91,340

Diversified

International

Fund

39,067

1,116

42,853

—

Diversified

Real

Asset

Fund

1,404

1,565

Equity

Income

Fund

19,480

2,403

2,829

21,072

Global

Emerging

Markets

Fund

4,215

3,547

8,780

High

Income

Fund

1,653

1,977

—

High

Yield

Fund

13,646

4,508

3,294

14,655

High

Yield

Fund

-

Institutional

Class

—

1,911

1,911

—

Inflation

Protection

Fund

10,989

1,792

1,309

12,230

International

Equity

Fund

—

48,300

6,319

49,738

International

Small

Company

Fund

2,721

670

1,398

2,554

LargeCap

Growth

Fund

I

22,111

1,735

3,695

22,589

LargeCap

S&P

500

Index

Fund

21,793

1,693

3,375

23,117

LargeCap

Value

Fund

III

19,579

2,118

2,815

20,492

MidCap

Fund

5,269

535

1,536

4,531

Real

Estate

Securities

Fund

5,378

666

582

5,551

Short-Term

Income

Fund

12,955

3,733

1,414

15,472

SmallCap

Fund

7,202

854

1,305

7,482

SmallCap

S&P

600

Index

Fund

872

923

1,769

Small-MidCap

Dividend

Income

Fund

4,591

774

785

4,877

$

296,721

$

94,589

$

91,328

$

329,199

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

$

—

$

2,049

Core

Fixed

Income

Fund

2,428

—

—

2,806

Diversified

International

Fund

—

2,265

582

Diversified

Real

Asset

Fund

—

—

Equity

Income

Fund

—

2,015

Global

Emerging

Markets

Fund

—

—

1,507

High

Income

Fund

(7)

—

High

Yield

Fund

725

(18)

—

(187)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

Inflation

Protection

Fund

—

—

—

758

International

Equity

Fund

—

—

7,486

International

Small

Company

Fund

—

(6)

—

567

LargeCap

Growth

Fund

I

—

(25)

—

2,463

LargeCap

S&P

500

Index

Fund

—

—

2,926

LargeCap

Value

Fund

III

—

—

1,605

MidCap

Fund

—

—

Real

Estate

Securities

Fund

(1)

—

Short-Term

Income

Fund

—

—

SmallCap

Fund

—

—

728

SmallCap

S&P

600

Index

Fund

—

(5)

—

Small-MidCap

Dividend

Income

Fund

(3)

—

$

4,075

$

2,749

$

582

$

26,468

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Principal

LifeTime

2040

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.49

%

Blue

Chip

Fund

(a) 375,135

$

19,229

Core

Fixed

Income

Fund

(a) 4,452,736

38,872

Global

Emerging

Markets

Fund

(a) 232,578

7,915

High

Yield

Fund

(a) 998,789

6,752

International

Equity

Fund

(a) 2,774,836

44,841

International

Small

Company

Fund

(a) 181,404

2,304

LargeCap

Growth

Fund

I

(a) 1,093,210

20,279

MidCap

Fund

(a) 88,665

4,195

Real

Estate

Securities

Fund

(a) 161,094

4,603

SmallCap

Fund

(a) 219,897

6,931

SmallCap

S&P

600

Index

Fund

(a) 56,691

1,517

Small-MidCap

Dividend

Income

Fund

(a) 227,477

4,504

$

161,942

Principal

Funds,

Inc.

Institutional

Class

-

.51

%

Equity

Income

Fund

(a) 441,364

19,010

LargeCap

S&P

500

Index

Fund

(a) 643,827

20,911

LargeCap

Value

Fund

III

(a) 899,642

18,506

$

58,427

TOTAL

INVESTMENT

COMPANIES

$

220,369

Total

Investments

$

220,369

Other

Assets

and

Liabilities

- 0.00%

(7)

TOTAL

NET

ASSETS

-

100.00%

$

220,362

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

17,589

$

2,792

$

3,065

$

19,229

Core

Fixed

Income

Fund

29,668

10,473

2,402

38,872

Diversified

International

Fund

31,392

1,388

34,955

—

Equity

Income

Fund

15,623

3,377

1,748

19,010

Global

Emerging

Markets

Fund

3,320

3,549

7,915

High

Income

Fund

611

787

—

High

Yield

Fund

5,278

2,528

935

6,752

High

Yield

Fund

-

Institutional

Class

—

762

762

—

International

Equity

Fund

—

42,325

4,241

44,841

International

Small

Company

Fund

2,312

853

1,372

2,304

LargeCap

Growth

Fund

I

17,629

2,792

2,286

20,279

LargeCap

S&P

500

Index

Fund

17,588

2,753

2,099

20,911

LargeCap

Value

Fund

III

15,700

3,130

1,738

18,506

MidCap

Fund

4,403

851

1,280

4,195

Real

Estate

Securities

Fund

3,957

894

4,603

SmallCap

Fund

5,916

1,328

980

6,931

SmallCap

S&P

600

Index

Fund

739

782

1,517

Small-MidCap

Dividend

Income

Fund

3,788

936

4,504

$

175,513

$

81,520

$

59,763

$

220,369

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

$

—

$

1,909

Core

Fixed

Income

Fund

967

—

—

1,133

Diversified

International

Fund

—

795

1,380

Equity

Income

Fund

—

—

1,758

Global

Emerging

Markets

Fund

—

—

1,308

High

Income

Fund

(3)

—

High

Yield

Fund

(4)

—

(115)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

International

Equity

Fund

—

—

6,613

International

Small

Company

Fund

—

(5)

—

516

LargeCap

Growth

Fund

I

—

—

2,138

LargeCap

S&P

500

Index

Fund

—

—

2,667

LargeCap

Value

Fund

III

—

—

—

1,414

MidCap

Fund

—

—

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

(7)

—

674

SmallCap

S&P

600

Index

Fund

—

(4)

—

Small-MidCap

Dividend

Income

Fund

—

—

$

1,661

$

933

$

$

22,166

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Principal

LifeTime

2050

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.02

%

Blue

Chip

Fund

(a) 199,492

$

10,226

Core

Fixed

Income

Fund

(a) 408,094

3,563

Global

Emerging

Markets

Fund

(a) 124,171

4,226

High

Yield

Fund

(a) 155,832

1,053

International

Equity

Fund

(a) 1,475,706

23,847

International

Small

Company

Fund

(a) 94,651

1,202

LargeCap

Growth

Fund

I

(a) 582,150

10,799

MidCap

Fund

(a) 46,123

2,182

Real

Estate

Securities

Fund

(a) 68,118

1,946

SmallCap

Fund

(a) 112,836

3,557

SmallCap

S&P

600

Index

Fund

(a) 33,258

890

Small-MidCap

Dividend

Income

Fund

(a) 118,675

2,350

$

65,841

Principal

Funds,

Inc.

Institutional

Class

-

.99

%

Equity

Income

Fund

(a) 234,241

10,089

LargeCap

S&P

500

Index

Fund

(a) 340,687

11,065

LargeCap

Value

Fund

III

(a) 477,101

9,814

$

30,968

TOTAL

INVESTMENT

COMPANIES

$

96,809

Total

Investments

$

96,809

Other

Assets

and

Liabilities

- (0.01)%

(6)

TOTAL

NET

ASSETS

-

100.00%

$

96,803

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

9,954

$

1,171

$

1,957

$

10,226

Core

Fixed

Income

Fund

2,736

1,138

3,563

Diversified

International

Fund

17,701

639

19,560

—

Equity

Income

Fund

8,836

1,580

1,293

10,089

Global

Emerging

Markets

Fund

1,874

1,875

4,226

High

Income

Fund

—

High

Yield

Fund

832

1,053

High

Yield

Fund

-

Institutional

Class

—

—

International

Equity

Fund

—

23,038

2,872

23,847

International

Small

Company

Fund

1,280

733

1,202

LargeCap

Growth

Fund

I

9,982

1,171

1,528

10,799

LargeCap

S&P

500

Index

Fund

9,879

1,165

1,424

11,065

LargeCap

Value

Fund

III

8,875

1,451

1,289

9,814

MidCap

Fund

2,531

833

2,182

Real

Estate

Securities

Fund

1,833

1,946

SmallCap

Fund

3,338

573

704

3,557

SmallCap

S&P

600

Index

Fund

890

Small-MidCap

Dividend

Income

Fund

2,189

2,350

$

82,363

$

36,247

$

33,891

$

96,809

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

$

—

$

1,029

Core

Fixed

Income

Fund

—

—

Diversified

International

Fund

—

999

Equity

Income

Fund

—

964

Global

Emerging

Markets

Fund

—

—

710

High

Income

Fund

(1)

—

High

Yield

Fund

—

—

(18)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

International

Equity

Fund

—

—

3,569

International

Small

Company

Fund

—

—

LargeCap

Growth

Fund

I

—

—

1,171

LargeCap

S&P

500

Index

Fund

—

—

1,422

LargeCap

Value

Fund

III

—

—

772

MidCap

Fund

—

—

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

—

SmallCap

S&P

600

Index

Fund

—

(2)

—

Small-MidCap

Dividend

Income

Fund

—

—

$

$

$

$

11,671

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Principal

LifeTime

2060

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.50

%

Blue

Chip

Fund

(a) 77,426

$

3,969

Core

Fixed

Income

Fund

(a) 109,744

958

Global

Emerging

Markets

Fund

(a) 48,029

1,635

High

Yield

Fund

(a) 46,229

International

Equity

Fund

(a) 574,058

9,277

International

Small

Company

Fund

(a) 37,893

LargeCap

Growth

Fund

I

(a) 225,612

4,185

MidCap

Fund

(a) 18,345

868

Real

Estate

Securities

Fund

(a) 26,292

751

SmallCap

Fund

(a) 44,961

1,417

SmallCap

S&P

600

Index

Fund

(a) 12,419

Small-MidCap

Dividend

Income

Fund

(a) 47,028

931

$

25,117

Principal

Funds,

Inc.

Institutional

Class

-

.52

%

Equity

Income

Fund

(a) 91,111

3,924

LargeCap

S&P

500

Index

Fund

(a) 134,107

4,356

LargeCap

Value

Fund

III

(a) 185,759

3,821

$

12,101

TOTAL

INVESTMENT

COMPANIES

$

37,218

Total

Investments

$

37,218

Other

Assets

and

Liabilities

- (0.02)%

(6)

TOTAL

NET

ASSETS

-

100.00%

$

37,212

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

3,552

$

886

$

861

$

3,969

Core

Fixed

Income

Fund

822

958

Diversified

International

Fund

6,429

7,210

—

Equity

Income

Fund

3,198

992

628

3,924

Global

Emerging

Markets

Fund

694

822

1,635

High

Income

Fund

—

—

High

Yield

Fund

High

Yield

Fund

-

Institutional

Class

—

—

International

Equity

Fund

—

9,131

1,233

9,277

International

Small

Company

Fund

LargeCap

Growth

Fund

I

3,565

886

710

4,185

LargeCap

S&P

500

Index

Fund

3,547

916

661

4,356

LargeCap

Value

Fund

III

3,209

945

625

3,821

MidCap

Fund

895

868

Real

Estate

Securities

Fund

668

751

SmallCap

Fund

1,256

1,417

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

789

931

$

29,548

$

17,010

$

13,879

$

37,218

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

$

—

$

Core

Fixed

Income

Fund

—

—

Diversified

International

Fund

—

Equity

Income

Fund

—

—

Global

Emerging

Markets

Fund

—

—

—

High

Income

Fund

—

—

—

High

Yield

Fund

—

—

(4)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

International

Equity

Fund

—

—

1,364

International

Small

Company

Fund

—

(3)

—

LargeCap

Growth

Fund

I

—

—

LargeCap

S&P

500

Index

Fund

—

—

553

LargeCap

Value

Fund

III

—

—

—

MidCap

Fund

—

—

—

Real

Estate

Securities

Fund

—

—

SmallCap

Fund

—

(2)

—

SmallCap

S&P

600

Index

Fund

—

(1)

—

Small-MidCap

Dividend

Income

Fund

(1)

—

$

$

$

$

4,389

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

-

.78

%

Blue

Chip

Fund

(a) 42,298

$

2,168

Core

Fixed

Income

Fund

(a) 2,153,707

18,802

Diversified

Real

Asset

Fund

(a) 19,024

Global

Emerging

Markets

Fund

(a) 26,473

901

High

Yield

Fund

(a) 513,944

3,474

International

Equity

Fund

(a) 314,048

5,075

International

Small

Company

Fund

(a) 19,578

LargeCap

Growth

Fund

I

(a) 123,492

2,291

MidCap

Fund

(a) 9,741

Real

Estate

Securities

Fund

(a) 32,095

917

SmallCap

Fund

(a) 23,844

751

SmallCap

S&P

600

Index

Fund

(a) 7,261

Small-MidCap

Dividend

Income

Fund

(a) 25,092

$

36,010

Principal

Funds,

Inc.

Institutional

Class

-

.23

%

Equity

Income

Fund

(a) 49,653

2,139

Inflation

Protection

Fund

(a) 386,554

3,108

LargeCap

S&P

500

Index

Fund

(a) 73,262

2,380

LargeCap

Value

Fund

III

(a) 101,076

2,079

Short-Term

Income

Fund

(a) 743,481

9,033

$

18,739

TOTAL

INVESTMENT

COMPANIES

$

54,749

Total

Investments

$

54,749

Other

Assets

and

Liabilities

- (0.01)%

(4)

TOTAL

NET

ASSETS

-

100.00%

$

54,745

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Account

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

(a) Sales

(a) September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

2,327

$

$

614

$

2,168

Core

Fixed

Income

Fund

18,193

3,448

3,446

18,802

Diversified

International

Fund

4,150

4,582

—

Diversified

Real

Asset

Fund

Equity

Income

Fund

2,054

2,139

Global

Emerging

Markets

Fund

901

High

Income

Fund

531

—

High

Yield

Fund

3,557

1,165

1,188

3,474

High

Yield

Fund

-

Institutional

Class

—

514

514

—

Inflation

Protection

Fund

3,101

649

3,108

International

Equity

Fund

—

5,209

933

5,075

International

Small

Company

Fund

LargeCap

Growth

Fund

I

2,329

512

2,291

LargeCap

S&P

500

Index

Fund

2,317

2,380

LargeCap

Value

Fund

III

2,064

2,079

MidCap

Fund

589

Real

Estate

Securities

Fund

952

917

Short-Term

Income

Fund

9,059

1,626

1,780

9,033

SmallCap

Fund

807

751

SmallCap

S&P

600

Index

Fund

Small-MidCap

Dividend

Income

Fund

514

$

53,523

$

14,933

$

17,300

$

54,749

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

$

—

$

Core

Fixed

Income

Fund

518

—

598

Diversified

International

Fund

—

(316)

600

Diversified

Real

Asset

Fund

—

Equity

Income

Fund

—

—

Global

Emerging

Markets

Fund

—

—

High

Income

Fund

(2)

—

High

Yield

Fund

(8)

—

(52)

High

Yield

Fund

-

Institutional

Class

—

—

—

—

Inflation

Protection

Fund

—

—

—

International

Equity

Fund

—

—

762

International

Small

Company

Fund

—

—

LargeCap

Growth

Fund

I

—

(4)

—

LargeCap

S&P

500

Index

Fund

—

—

LargeCap

Value

Fund

III

—

—

—

MidCap

Fund

—

—

Real

Estate

Securities

Fund

(1)

—

Short-Term

Income

Fund

(1)

—

SmallCap

Fund

—

(2)

—

SmallCap

S&P

600

Index

Fund

—

(1)

—

Small-MidCap

Dividend

Income

Fund

(2)

—

$

1,024

$

(176)

$

$

3,769

Amounts

in

thousands.

(a) Purchases

and

Sales

include

transactions

related

to

the

acquisition

of

the

High

Income

Fund

by

the

High

Yield

Fund.

Schedule

of

Investments

Real

Estate

Securities

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.68

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.68

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

6,883,620

$

6,884

TOTAL

INVESTMENT

COMPANIES

$

6,884

COMMON

STOCKS

-

.03

%

Shares

Held

Value

(000's)

Lodging

-

.88

%

Hyatt

Hotels

Corp

16,092

$

2,284

REITs

-

.15

%

American

Healthcare

REIT

Inc

95,558

4,014

American

Homes

Rent

189,524

6,302

American

Tower

Corp

120,929

23,257

Americold

Realty

Trust

Inc

126,872

1,553

AvalonBay

Communities

Inc

58,245

11,251

Cousins

Properties

Inc

148,115

4,287

Digital

Realty

Trust

Inc

50,731

8,770

EastGroup

Properties

Inc

24,209

4,098

Equinix

Inc

25,514

19,984

Equity

LifeStyle

Properties

Inc

67,532

4,099

Equity

Residential

88,407

5,723

Essex

Property

Trust

Inc

17,212

4,607

Extra

Space

Storage

Inc

88,759

12,510

Gaming

and

Leisure

Properties

Inc

93,688

4,367

Healthpeak

Properties

Inc

403,107

7,720

Hudson

Pacific

Properties

Inc

(c) 259,458

716

InvenTrust

Properties

Corp

85,196

2,438

Invitation

Homes

Inc

239,559

7,026

Iron

Mountain

Inc

29,816

3,039

Kilroy

Realty

Corp

64,280

2,716

National

Health

Investors

Inc

33,690

2,678

NETSTREIT

Corp

177,982

3,214

Prologis

Inc

125,526

14,375

Regency

Centers

Corp

121,573

8,863

Rexford

Industrial

Realty

Inc

128,921

5,300

Ryman

Hospitality

Properties

Inc

38,769

3,473

Sabra

Health

Care

REIT

Inc

283,031

5,276

Saul

Centers

Inc

6,246

SBA

Communications

Corp

35,484

6,861

Simon

Property

Group

Inc

36,308

6,814

Ventas

Inc

214,578

15,018

VICI

Properties

Inc

282,132

9,200

Vornado

Realty

Trust

78,816

3,194

Welltower

Inc

127,270

22,672

Weyerhaeuser

Co

69,909

1,733

$

247,347

TOTAL

COMMON

STOCKS

$

249,631

Total

Investments

$

256,515

Other

Assets

and

Liabilities

- 0.29%

739

TOTAL

NET

ASSETS

-

100.00%

$

257,254

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Non-income

producing

security

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

6,031

$

27,763

$

26,910

$

6,884

$

6,031

$

27,763

$

26,910

$

6,884

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

SAM

Balanced

Portfolio

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.02

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.72

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

4,134,272

$

4,134

Principal

Exchange-Traded

Funds

-

.36

%

Principal

International

Equity

ETF

(a) 712,853

22,562

Principal

U.S.

Mega-Cap

ETF

(a) 1,333,807

90,930

Principal

U.S.

Small-Cap

ETF

(a) 166,600

9,491

$

122,983

Principal

Funds,

Inc.

Class

-

.77

%

Blue

Chip

Fund

(a) 381,309

19,546

Core

Fixed

Income

Fund

(a) 8,355,327

72,942

Diversified

Real

Asset

Fund

(a) 1,143,984

13,842

Global

Emerging

Markets

Fund

(a) 383,000

13,034

High

Yield

Fund

(a) 3,761,294

25,426

International

Equity

Index

Fund

(a) 194,584

2,689

International

Small

Company

Fund

(a) 381,885

4,850

LargeCap

Growth

Fund

I

(a) 1,474,899

27,359

Small-MidCap

Dividend

Income

Fund

(a) 300,573

5,951

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 1,547,816

14,565

$

200,204

Principal

Funds,

Inc.

Institutional

Class

-

.10

%

Bond

Market

Index

Fund

(a) 4,001,864

35,176

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 956,861

9,109

Global

Listed

Infrastructure

Fund

(a) 228,832

2,725

Inflation

Protection

Fund

(a) 1,799,131

14,465

LargeCap

S&P

500

Index

Fund

(a) 380,310

12,353

LargeCap

Value

Fund

III

(a) 1,191,077

24,501

Overseas

Fund

(a) 463,289

5,573

Principal

Capital

Appreciation

Fund

(a) 704,310

65,121

Short-Term

Income

Fund

(a) 1,300,241

15,798

$

184,821

Principal

Variable

Contracts

Funds,

Inc. Class

-

.07

%

Equity

Income

Account

(a) 1,655,428

50,904

Government

&

High

Quality

Bond

Account

(a) 771,212

6,525

MidCap

Account

(a) 40,266

2,604

Real

Estate

Securities

Account

(a) 208,543

3,733

$

63,766

TOTAL

INVESTMENT

COMPANIES

$

575,908

Total

Investments

$

575,908

Other

Assets

and

Liabilities

- (0.02)%

(133)

TOTAL

NET

ASSETS

-

100.00%

$

575,775

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Balanced

Portfolio

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

30,669

$

$

13,623

$

19,546

Bond

Market

Index

Fund

29,595

6,518

2,920

35,176

Core

Fixed

Income

Fund

95,295

2,862

27,737

72,942

Diversified

International

Fund

19,951

21,870

—

Diversified

Real

Asset

Fund

16,308

4,228

13,842

Equity

Income

Account

41,295

20,905

11,641

50,904

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

11,079

527

3,202

9,109

Global

Emerging

Markets

Fund

12,289

2,872

13,034

Global

Listed

Infrastructure

Fund

—

2,807

2,725

Government

&

High

Quality

Bond

Account

7,468

1,484

6,525

High

Yield

Fund

15,304

12,212

2,325

25,426

Inflation

Protection

Fund

11,514

4,005

1,969

14,465

International

Equity

Index

Fund

2,598

576

2,689

International

Small

Company

Fund

5,236

1,793

4,850

LargeCap

Growth

Fund

I

20,291

9,197

5,030

27,359

LargeCap

S&P

500

Index

Fund

12,449

1,836

12,353

LargeCap

Value

Fund

III

32,339

10,176

24,501

MidCap

Account

22,905

21,322

2,604

Overseas

Fund

19,033

17,792

5,573

Principal

Capital

Appreciation

Fund

53,194

15,754

11,212

65,121

Principal

Government

Money

Market

Fund

-

Class

4.04%

4,522

9,735

10,123

4,134

Principal

International

Equity

ETF

—

21,510

2,360

22,562

Principal

U.S.

Mega-Cap

ETF

66,922

16,821

3,649

90,930

Principal

U.S.

Small-Cap

ETF

16,591

—

8,182

9,491

Principal

Value

ETF

—

7,462

7,304

—

Real

Estate

Securities

Account

3,947

3,733

Short-Term

Income

Fund

10,561

6,992

1,933

15,798

Small-MidCap

Dividend

Income

Fund

8,809

3,330

5,951

Spectrum

Preferred

and

Capital

Securities

Income

Fund

14,984

781

1,566

14,565

$

585,148

$

141,099

$

202,642

$

575,908

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

9,063

$

—

$

(6,659)

Bond

Market

Index

Fund

—

(111)

—

2,094

Core

Fixed

Income

Fund

2,293

(3,292)

—

5,814

Diversified

International

Fund

—

4,271

(2,812)

Diversified

Real

Asset

Fund

(135)

—

1,403

Equity

Income

Account

1,011

4,900

4,591

(4,555)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(494)

—

1,199

Global

Emerging

Markets

Fund

—

—

3,342

Global

Listed

Infrastructure

Fund

—

—

Government

&

High

Quality

Bond

Account

(61)

—

High

Yield

Fund

1,071

(28)

—

Inflation

Protection

Fund

—

(238)

—

1,153

International

Equity

Index

Fund

—

—

555

International

Small

Company

Fund

—

—

1,131

LargeCap

Growth

Fund

I

—

(163)

—

3,064

LargeCap

S&P

500

Index

Fund

—

—

1,208

LargeCap

Value

Fund

III

—

—

1,854

MidCap

Account

1,840

(1,295)

Overseas

Fund

—

—

3,698

Principal

Capital

Appreciation

Fund

—

651

—

6,734

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

Principal

International

Equity

ETF

—

—

3,348

Principal

U.S.

Mega-Cap

ETF

1,282

—

9,554

Principal

U.S.

Small-Cap

ETF

1,531

—

(449)

Principal

Value

ETF

(158)

—

—

Real

Estate

Securities

Account

(54)

Short-Term

Income

Fund

(13)

—

Small-MidCap

Dividend

Income

Fund

—

Spectrum

Preferred

and

Capital

Securities

Income

Fund

576

(160)

—

526

$

7,038

$

20,583

$

5,327

$

31,720

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.02

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.88

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

1,420,034

$

1,420

Principal

Exchange-Traded

Funds

-

.91

%

Principal

International

Equity

ETF

(a) 136,241

4,312

Principal

U.S.

Mega-Cap

ETF

(a) 247,030

16,841

Principal

U.S.

Small-Cap

ETF

(a) 23,200

1,322

$

22,475

Principal

Funds,

Inc.

Class

-

.66

%

Blue

Chip

Fund

(a) 77,799

3,988

Core

Fixed

Income

Fund

(a) 4,219,505

36,836

Diversified

Real

Asset

Fund

(a) 252,898

3,060

Global

Emerging

Markets

Fund

(a) 64,543

2,197

High

Yield

Fund

(a) 1,284,722

8,685

International

Equity

Index

Fund

(a) 62,322

861

International

Small

Company

Fund

(a) 73,417

932

LargeCap

Growth

Fund

I

(a) 92,868

1,723

Small-MidCap

Dividend

Income

Fund

(a) 89,505

1,772

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 597,153

5,619

$

65,673

Principal

Funds,

Inc.

Institutional

Class

-

.61

%

Bond

Market

Index

Fund

(a) 1,910,401

16,792

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 797,568

7,593

Global

Listed

Infrastructure

Fund

(a) 62,762

748

Inflation

Protection

Fund

(a) 814,896

6,552

LargeCap

S&P

500

Index

Fund

(a) 71,709

2,329

LargeCap

Value

Fund

III

(a) 94,504

1,944

Overseas

Fund

(a) 214,344

2,579

Principal

Capital

Appreciation

Fund

(a) 123,599

11,428

Short-Term

Income

Fund

(a) 487,929

5,928

$

55,893

Principal

Variable

Contracts

Funds,

Inc. Class

-

.96

%

Equity

Income

Account

(a) 347,445

10,684

Government

&

High

Quality

Bond

Account

(a) 435,418

3,684

MidCap

Account

(a) 9,346

604

Real

Estate

Securities

Account

(a) 62,534

1,119

$

16,091

TOTAL

INVESTMENT

COMPANIES

$

161,552

Total

Investments

$

161,552

Other

Assets

and

Liabilities

- (0.02)%

(39)

TOTAL

NET

ASSETS

-

100.00%

$

161,513

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

6,845

$

$

3,473

$

3,988

Bond

Market

Index

Fund

14,986

2,846

1,973

16,792

Core

Fixed

Income

Fund

45,030

3,111

12,526

36,836

Diversified

International

Fund

3,846

4,195

—

Diversified

Real

Asset

Fund

3,633

1,270

3,060

Equity

Income

Account

9,991

3,631

3,155

10,684

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

7,515

787

1,243

7,593

Global

Emerging

Markets

Fund

2,402

910

2,197

Global

Listed

Infrastructure

Fund

—

814

748

Government

&

High

Quality

Bond

Account

3,968

783

3,684

High

Yield

Fund

4,654

4,937

1,001

8,685

Inflation

Protection

Fund

6,104

948

914

6,552

International

Equity

Index

Fund

709

861

International

Small

Company

Fund

861

932

LargeCap

Growth

Fund

I

2,057

606

1,723

LargeCap

S&P

500

Index

Fund

2,422

823

2,329

LargeCap

Value

Fund

III

2,866

1,172

1,944

MidCap

Account

2,904

2,527

604

Overseas

Fund

2,478

659

2,579

Principal

Capital

Appreciation

Fund

9,654

3,761

3,259

11,428

Principal

Government

Money

Market

Fund

-

Class

4.04%

1,525

2,418

2,523

1,420

Principal

International

Equity

ETF

—

4,023

4,312

Principal

U.S.

Mega-Cap

ETF

12,488

3,338

1,007

16,841

Principal

U.S.

Small-Cap

ETF

2,728

—

1,561

1,322

Principal

Value

ETF

—

1,561

1,537

—

Real

Estate

Securities

Account

1,127

1,119

Short-Term

Income

Fund

4,417

2,153

710

5,928

Small-MidCap

Dividend

Income

Fund

2,787

1,314

1,772

Spectrum

Preferred

and

Capital

Securities

Income

Fund

5,408

1,030

962

5,619

$

163,405

$

37,739

$

51,053

$

161,552

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

2,307

$

—

$

(1,812)

Bond

Market

Index

Fund

—

(82)

—

1,015

Core

Fixed

Income

Fund

1,121

(1,503)

—

2,724

Diversified

International

Fund

—

833

(559)

Diversified

Real

Asset

Fund

—

Equity

Income

Account

1,361

944

(1,144)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(195)

—

729

Global

Emerging

Markets

Fund

—

—

584

Global

Listed

Infrastructure

Fund

—

—

—

Government

&

High

Quality

Bond

Account

(34)

—

High

Yield

Fund

—

Inflation

Protection

Fund

—

(110)

—

524

International

Equity

Index

Fund

—

—

International

Small

Company

Fund

—

—

LargeCap

Growth

Fund

I

—

—

LargeCap

S&P

500

Index

Fund

—

—

LargeCap

Value

Fund

III

—

—

MidCap

Account

(11)

Overseas

Fund

—

(16)

—

694

Principal

Capital

Appreciation

Fund

—

—

1,049

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

Principal

International

Equity

ETF

—

—

640

Principal

U.S.

Mega-Cap

ETF

—

1,692

Principal

U.S.

Small-Cap

ETF

—

(327)

Principal

Value

ETF

(24)

—

—

Real

Estate

Securities

Account

(15)

Short-Term

Income

Fund

(3)

—

Small-MidCap

Dividend

Income

Fund

—

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(85)

—

$

2,711

$

3,952

$

1,109

$

7,509

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.51

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

2,185,410

$

2,185

Principal

Exchange-Traded

Funds

-

.74

%

Principal

International

Equity

ETF

(a) 600,356

19,001

Principal

U.S.

Mega-Cap

ETF

(a) 1,062,311

72,421

Principal

U.S.

Small-Cap

ETF

(a) 173,400

9,879

$

101,301

Principal

Funds,

Inc.

Class

-

.21

%

Blue

Chip

Fund

(a) 467,387

23,958

Core

Fixed

Income

Fund

(a) 2,951,196

25,764

Diversified

Real

Asset

Fund

(a) 798,170

9,658

Global

Emerging

Markets

Fund

(a) 394,096

13,411

High

Yield

Fund

(a) 1,181,915

7,990

International

Equity

Index

Fund

(a) 278,110

3,844

International

Small

Company

Fund

(a) 458,737

5,826

LargeCap

Growth

Fund

I

(a) 1,119,573

20,768

Small-MidCap

Dividend

Income

Fund

(a) 215,089

4,259

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 525,100

4,941

$

120,419

Principal

Funds,

Inc.

Institutional

Class

-

.08

%

Bond

Market

Index

Fund

(a) 1,701,884

14,960

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 447,988

4,265

Global

Listed

Infrastructure

Fund

(a) 345,714

4,117

Inflation

Protection

Fund

(a) 736,585

5,922

LargeCap

S&P

500

Index

Fund

(a) 306,193

9,945

LargeCap

Value

Fund

III

(a) 1,494,498

30,742

Overseas

Fund

(a) 1,442,531

17,354

Principal

Capital

Appreciation

Fund

(a) 675,136

62,423

$

149,728

Principal

Variable

Contracts

Funds,

Inc. Class

-

.49

%

Equity

Income

Account

(a) 1,431,961

44,033

Government

&

High

Quality

Bond

Account

(a) 231,059

1,955

MidCap

Account

(a) 39,903

2,580

Real

Estate

Securities

Account

(a) 264,257

4,730

$

53,298

TOTAL

INVESTMENT

COMPANIES

$

426,931

Total

Investments

$

426,931

Other

Assets

and

Liabilities

- (0.03)%

(122)

TOTAL

NET

ASSETS

-

100.00%

$

426,809

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

30,657

$

$

9,490

$

23,958

Bond

Market

Index

Fund

10,493

4,750

1,009

14,960

Core

Fixed

Income

Fund

31,692

1,043

7,847

25,764

Diversified

International

Fund

16,144

17,576

—

Diversified

Real

Asset

Fund

12,805

4,530

9,658

Equity

Income

Account

41,986

8,924

6,868

44,033

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

4,280

538

4,265

Global

Emerging

Markets

Fund

11,139

1,534

2,754

13,411

Global

Listed

Infrastructure

Fund

—

4,052

4,117

Government

&

High

Quality

Bond

Account

2,086

1,955

High

Yield

Fund

4,118

4,111

7,990

Inflation

Protection

Fund

2,705

3,348

5,922

International

Equity

Index

Fund

3,652

722

3,844

International

Small

Company

Fund

5,649

1,399

5,826

LargeCap

Growth

Fund

I

17,855

2,721

2,011

20,768

LargeCap

S&P

500

Index

Fund

9,872

1,367

9,945

LargeCap

Value

Fund

III

29,404

1,436

30,742

MidCap

Account

18,790

781

17,374

2,580

Overseas

Fund

15,967

3,176

17,354

Principal

Capital

Appreciation

Fund

51,280

8,646

4,438

62,423

Principal

Government

Money

Market

Fund

-

Class

4.04%

4,573

5,484

7,872

2,185

Principal

International

Equity

ETF

—

17,371

1,221

19,001

Principal

U.S.

Mega-Cap

ETF

52,665

13,635

2,517

72,421

Principal

U.S.

Small-Cap

ETF

15,350

—

6,556

9,879

Principal

Value

ETF

—

6,280

6,129

—

Real

Estate

Securities

Account

4,723

4,730

Small-MidCap

Dividend

Income

Fund

5,683

1,771

4,259

Spectrum

Preferred

and

Capital

Securities

Income

Fund

4,954

4,941

$

408,522

$

85,252

$

110,445

$

426,931

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

5,974

$

—

$

(3,289)

Bond

Market

Index

Fund

—

(26)

—

752

Core

Fixed

Income

Fund

795

(1,074)

—

1,950

Diversified

International

Fund

—

3,670

(2,494)

Diversified

Real

Asset

Fund

(15)

—

981

Equity

Income

Account

867

1,231

3,941

(1,240)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(87)

—

Global

Emerging

Markets

Fund

—

—

3,338

Global

Listed

Infrastructure

Fund

—

—

—

Government

&

High

Quality

Bond

Account

(10)

—

High

Yield

Fund

(5)

—

Inflation

Protection

Fund

—

(38)

—

International

Equity

Index

Fund

—

—

788

International

Small

Company

Fund

—

—

1,372

LargeCap

Growth

Fund

I

—

(349)

—

2,552

LargeCap

S&P

500

Index

Fund

—

—

1,038

LargeCap

Value

Fund

III

—

(22)

—

2,373

MidCap

Account

1,222

(839)

Overseas

Fund

—

(185)

—

4,655

Principal

Capital

Appreciation

Fund

—

—

6,787

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

Principal

International

Equity

ETF

—

—

2,818

Principal

U.S.

Mega-Cap

ETF

905

—

7,733

Principal

U.S.

Small-Cap

ETF

1,128

—

(43)

Principal

Value

ETF

(151)

—

—

Real

Estate

Securities

Account

(71)

Small-MidCap

Dividend

Income

Fund

(20)

—

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(41)

—

$

3,301

$

12,970

$

4,646

$

30,632

Amounts

in

thousands.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.91

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

1,076,584

$

1,077

Principal

Exchange-Traded

Funds

-

.37

%

Principal

Active

High

Yield

ETF

(a) 121,116

2,355

Principal

International

Equity

ETF

(a) 100,630

3,185

Principal

U.S.

Mega-Cap

ETF

(a) 140,407

9,572

Principal

U.S.

Small-Cap

ETF

(a) 12,000

684

$

15,796

Principal

Funds,

Inc.

Class

-

.62

%

Core

Fixed

Income

Fund

(a) 4,047,029

35,331

Diversified

Real

Asset

Fund

(a) 92,596

1,120

Global

Emerging

Markets

Fund

(a) 17,922

610

High

Yield

Fund

(a) 710,640

4,804

LargeCap

Growth

Fund

I

(a) 29,088

540

Small-MidCap

Dividend

Income

Fund

(a) 56,556

1,120

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a) 476,673

4,485

$

48,010

Principal

Funds,

Inc.

Institutional

Class

-

.60

%

Bond

Market

Index

Fund

(a) 1,654,654

14,544

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a) 720,689

6,861

Inflation

Protection

Fund

(a) 858,429

6,902

LargeCap

S&P

500

Index

Fund

(a) 22,130

719

LargeCap

Value

Fund

III

(a) 99,617

2,049

Overseas

Fund

(a) 84,484

1,016

Principal

Capital

Appreciation

Fund

(a) 49,238

4,552

Short-Term

Income

Fund

(a) 446,644

5,427

$

42,070

Principal

Variable

Contracts

Funds,

Inc. Class

-

.53

%

Equity

Income

Account

(a) 143,534

4,414

Government

&

High

Quality

Bond

Account

(a) 608,477

5,148

MidCap

Account

(a) 16,755

1,083

Real

Estate

Securities

Account

(a) 34,211

612

$

11,257

TOTAL

INVESTMENT

COMPANIES

$

118,210

Total

Investments

$

118,210

Other

Assets

and

Liabilities

- (0.03)%

(31)

TOTAL

NET

ASSETS

-

100.00%

$

118,179

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

15,939

$

$

2,680

$

14,544

Core

Fixed

Income

Fund

43,753

1,612

11,228

35,331

Diversified

International

Fund

3,041

3,308

—

Diversified

Real

Asset

Fund

1,220

1,120

Equity

Income

Account

3,952

2,021

1,675

4,414

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

7,245

1,315

6,861

Global

Emerging

Markets

Fund

—

630

610

Government

&

High

Quality

Bond

Account

5,623

1,018

5,148

High

Yield

Fund

1,376

4,051

678

4,804

Inflation

Protection

Fund

7,498

1,200

6,902

LargeCap

Growth

Fund

I

1,268

840

540

LargeCap

S&P

500

Index

Fund

1,322

786

719

LargeCap

Value

Fund

III

2,761

919

2,049

MidCap

Account

1,297

1,083

Overseas

Fund

1,147

1,016

Principal

Active

High

Yield

ETF

2,323

—

2,355

Principal

Capital

Appreciation

Fund

5,034

859

1,883

4,552

Principal

Government

Money

Market

Fund

-

Class

4.04%

1,222

1,033

1,178

1,077

Principal

International

Equity

ETF

—

3,171

3,185

Principal

U.S.

Mega-Cap

ETF

8,789

724

1,132

9,572

Principal

U.S.

Small-Cap

ETF

769

—

684

Principal

Value

ETF

—

618

604

—

Real

Estate

Securities

Account

658

612

Short-Term

Income

Fund

4,638

1,587

865

5,427

Small-MidCap

Dividend

Income

Fund

2,218

1,227

1,120

Spectrum

Preferred

and

Capital

Securities

Income

Fund

4,178

1,023

832

4,485

$

127,271

$

19,294

$

35,335

$

118,210

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

—

$

(94)

$

—

$

968

Core

Fixed

Income

Fund

1,083

(1,340)

—

2,534

Diversified

International

Fund

—

(144)

Diversified

Real

Asset

Fund

—

Equity

Income

Account

601

(485)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(175)

—

680

Global

Emerging

Markets

Fund

—

—

Government

&

High

Quality

Bond

Account

(43)

—

High

Yield

Fund

—

Inflation

Protection

Fund

—

(148)

—

613

LargeCap

Growth

Fund

I

—

—

LargeCap

S&P

500

Index

Fund

—

—

(91)

LargeCap

Value

Fund

III

—

(10)

—

MidCap

Account

(65)

Overseas

Fund

—

(18)

—

Principal

Active

High

Yield

ETF

—

—

Principal

Capital

Appreciation

Fund

—

—

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

Principal

International

Equity

ETF

—

—

Principal

U.S.

Mega-Cap

ETF

—

820

Principal

U.S.

Small-Cap

ETF

—

Principal

Value

ETF

(14)

—

—

Real

Estate

Securities

Account

—

(7)

Short-Term

Income

Fund

(5)

—

Small-MidCap

Dividend

Income

Fund

—

(87)

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(51)

—

$

2,366

$

$

591

$

6,737

Amounts

in

thousands.

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.49

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(b)

2,366,593

$

2,367

Principal

Exchange-Traded

Funds

-

.60

%

Principal

International

Equity

ETF

(a) 1,007,722

31,895

Principal

U.S.

Mega-Cap

ETF

(a) 1,127,000

76,831

Principal

U.S.

Small-Cap

ETF

(a) 219,100

12,482

Principal

Value

ETF

(a) 152,000

7,978

$

129,186

Principal

Funds,

Inc.

Class

-

.12

%

Blue

Chip

Fund

(a) 498,635

25,560

Diversified

Real

Asset

Fund

(a) 960,326

11,620

Global

Emerging

Markets

Fund

(a) 599,189

20,390

International

Equity

Index

Fund

(a) 376,131

5,198

International

Small

Company

Fund

(a) 859,894

10,921

LargeCap

Growth

Fund

I

(a) 1,759,756

32,643

Small-MidCap

Dividend

Income

Fund

(a) 299,727

5,935

$

112,267

Principal

Funds,

Inc.

Institutional

Class

-

.09

%

Global

Listed

Infrastructure

Fund

(a) 390,331

4,649

Inflation

Protection

Fund

(a) 773,055

6,215

LargeCap

S&P

500

Index

Fund

(a) 438,484

14,242

LargeCap

Value

Fund

III

(a) 2,091,839

43,029

Overseas

Fund

(a) 2,012,890

24,215

Principal

Capital

Appreciation

Fund

(a) 792,117

73,239

$

165,589

Principal

Variable

Contracts

Funds,

Inc. Class

-

.73

%

Equity

Income

Account

(a) 1,693,691

52,081

MidCap

Account

(a) 311,194

20,125

Real

Estate

Securities

Account

(a) 234,808

4,203

$

76,409

TOTAL

INVESTMENT

COMPANIES

$

485,818

Total

Investments

$

485,818

Other

Assets

and

Liabilities

- (0.03)%

(140)

TOTAL

NET

ASSETS

-

100.00%

$

485,678

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

September

30,

2025

(unaudited)

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

38,705

$

505

$

16,505

$

25,560

Bond

Market

Index

Fund

—

3,397

3,435

—

Diversified

International

Fund

24,772

792

27,379

—

Diversified

Real

Asset

Fund

14,910

695

5,120

11,620

Equity

Income

Account

55,040

7,429

10,549

52,081

Global

Emerging

Markets

Fund

15,789

2,813

3,299

20,390

Global

Listed

Infrastructure

Fund

—

4,567

4,649

Inflation

Protection

Fund

—

6,387

6,215

International

Equity

Index

Fund

5,379

1,546

5,198

International

Small

Company

Fund

10,321

2,580

10,921

LargeCap

Growth

Fund

I

23,707

7,928

2,317

32,643

LargeCap

S&P

500

Index

Fund

13,668

1,537

14,242

LargeCap

Value

Fund

III

40,715

1,459

2,399

43,029

MidCap

Account

23,354

3,001

5,056

20,125

Overseas

Fund

22,763

5,226

24,215

Principal

Capital

Appreciation

Fund

67,368

3,809

6,079

73,239

Principal

Government

Money

Market

Fund

-

Class

4.04%

3,194

9,186

10,013

2,367

Principal

International

Equity

ETF

—

27,168

(1)

31,895

Principal

U.S.

Mega-Cap

ETF

62,852

6,099

1,345

76,831

Principal

U.S.

Small-Cap

ETF

18,667

—

7,507

12,482

Principal

Value

ETF

—

12,013

4,326

7,978

Real

Estate

Securities

Account

3,892

679

4,203

Small-MidCap

Dividend

Income

Fund

5,696

5,935

$

450,792

$

99,532

$

117,405

$

485,818

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—

$

7,846

$

—

$

(4,991)

Bond

Market

Index

Fund

—

—

—

Diversified

International

Fund

—

4,732

(2,917)

Diversified

Real

Asset

Fund

(399)

—

1,534

Equity

Income

Account

1,019

1,489

4,629

(1,328)

Global

Emerging

Markets

Fund

—

—

5,006

Global

Listed

Infrastructure

Fund

—

—

—

Inflation

Protection

Fund

—

—

International

Equity

Index

Fund

—

—

1,070

International

Small

Company

Fund

—

(95)

—

2,877

LargeCap

Growth

Fund

I

—

—

3,305

LargeCap

S&P

500

Index

Fund

—

—

1,598

LargeCap

Value

Fund

III

—

(64)

—

3,318

MidCap

Account

2,393

(1,217)

Overseas

Fund

—

(393)

—

6,649

Principal

Capital

Appreciation

Fund

—

—

8,059

Principal

Government

Money

Market

Fund

-

Class

4.04%

—

—

—

Principal

International

Equity

ETF

—

—

—

4,726

Principal

U.S.

Mega-Cap

ETF

—

9,163

Principal

U.S.

Small-Cap

ETF

1,257

—

Principal

Value

ETF

(100)

—

Real

Estate

Securities

Account

(6)

(57)

Small-MidCap

Dividend

Income

Fund

(36)

—

$

2,135

$

14,952

$

7,534

$

37,947

Amounts

in

thousands.

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.53

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.53

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

1,095,280

$

1,095

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

4,517,508

4,518

$

5,613

TOTAL

INVESTMENT

COMPANIES

$

5,613

BONDS

-

.98

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

.66

%

BAE

Systems

PLC

5.13%,

03/26/2029

(d) $

$

General

Electric

Co

4.30%,

07/29/2030

Lockheed

Martin

Corp

4.50%,

02/15/2029

650

659

Northrop

Grumman

Corp

4.60%,

02/01/2029

500

508

RTX

Corp

5.75%,

11/08/2026

$

2,061

Agriculture

-

.60

%

Bunge

Ltd

Finance

Corp

4.10%,

01/07/2028

4.20%,

09/17/2029

500

$

749

Airlines

-

.70

%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(d) 426

AS

Mileage

Plan

IP

Ltd

5.02%,

10/20/2029

(d) 400

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(d) 44

$

870

Automobile

Asset

Backed

Securities

-

.03

%

AmeriCredit

Automobile

Receivables

Trust

2024-1

5.75%,

02/18/2028

BMW

Vehicle

Owner

Trust

2024-A

5.42%,

02/25/2027

BofA

Auto

Trust

2025-1

4.52%,

11/22/2027

(d) 232

Chase

Auto

Owner

Trust

2024-5

4.40%,

11/26/2027

(d) 142

Chase

Auto

Owner

Trust

2025-1

4.40%,

07/25/2028

(d) 250

Consumer

Portfolio

Services

Auto

Trust

2025-A

4.77%,

10/16/2028

(d) 198

Consumer

Portfolio

Services

Auto

Trust

2025-B

4.74%,

02/15/2029

(d) 148

CPS

Auto

Receivables

Trust

2024-B

5.78%,

01/18/2028

(d) 78

CPS

Auto

Receivables

Trust

2024-C

5.88%,

02/15/2028

(d) 68

CPS

Auto

Receivables

Trust

2024-D

4.91%,

06/15/2028

(d) 112

CPS

Auto

Receivables

Trust

2025-C

4.71%,

03/15/2029

(d) 88

Ford

Credit

Auto

Owner

Trust

2020-REV2

1.06%,

04/15/2033

(d) 475

GM

Financial

Consumer

Automobile

Receivables

Trust

2024-3

5.35%,

06/16/2027

GM

Financial

Consumer

Automobile

Receivables

Trust

2024-4

4.53%,

10/18/2027

GM

Financial

Consumer

Automobile

Receivables

Trust

2025-1

4.44%,

01/18/2028

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

(continued)

Gm

Financial

Consumer

Automobile

Receivables

Trust

2025-3

4.32%,

06/16/2028

$

$

Nissan

Auto

Receivables

2024-B

Owner

Trust

4.51%,

06/15/2027

OneMain

Direct

Auto

Receivables

Trust

2019-1

3.63%,

09/14/2027

(d) 73

Onemain

Direct

Auto

Receivables

Trust

2022-1

4.65%,

03/14/2029

(d) 112

Santander

Drive

Auto

Receivables

Trust

2024-5

4.88%,

09/15/2027

Toyota

Auto

Loan

Extended

Note

Trust

2023-1

4.93%,

06/25/2036

(d) 400

Toyota

Auto

Receivables

2024-D

Owner

Trust

4.55%,

08/16/2027

Westlake

Automobile

Receivables

Trust

2024-3

4.82%,

09/15/2027

(d) 159

Westlake

Automobile

Receivables

Trust

2025-1

4.66%,

01/18/2028

(d) 299

Westlake

Automobile

Receivables

Trust

2025-2

4.66%,

09/15/2028

(d) 100

Westlake

Automobile

Receivables

Trust

2025-P1

4.65%,

02/15/2028

(d) 100

World

Omni

Auto

Receivables

Trust

2025-C

4.19%,

10/16/2028

World

Omni

Select

Auto

Trust

2024-A

5.37%,

02/15/2028

World

Omni

Select

Auto

Trust

2025-A

4.14%,

05/15/2030

$

5,004

Banks

-

.73

%

Bank

of

America

Corp

1.20%,

10/24/2026

(e) 400

Secured

Overnight

Financing

Rate

+

1.01%

4.98%,

01/24/2029

(e) 350

Secured

Overnight

Financing

Rate

+

0.83%

5.16%,

01/24/2031

(e) 350

Secured

Overnight

Financing

Rate

+

1.00%

Bank

of

Ireland

Group

PLC

5.60%,

03/20/2030

(d),(e)

500

519

Secured

Overnight

Financing

Rate

+

1.62%

Bank

of

Montreal

0.95%,

01/22/2027

(e) 600

593

Secured

Overnight

Financing

Rate

+

0.60%

Bank

of

New

York

Mellon

Corp/The

4.44%,

06/09/2028

(e) 300

Secured

Overnight

Financing

Rate

+

0.68%

Bank

of

Nova

Scotia/The

1.30%,

09/15/2026

4.40%,

09/08/2028

(e) 400

Secured

Overnight

Financing

Rate

+

1.00%

Barclays

PLC

2.28%,

11/24/2027

(e) 500

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

BNP

Paribas

SA

5.09%,

05/09/2031

(d),(e)

Secured

Overnight

Financing

Rate

+

1.68%

Canadian

Imperial

Bank

of

Commerce

5.93%,

10/02/2026

5.99%,

10/03/2028

Citibank

NA

4.88%,

11/19/2027

(e) 250

Secured

Overnight

Financing

Rate

+

0.71%

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Citigroup

Inc

1.12%,

01/28/2027

(e) $

900

$

891

Secured

Overnight

Financing

Rate

+

0.77%

4.54%,

09/19/2030

(e) 400

Secured

Overnight

Financing

Rate

+

1.34%

5.17%,

02/13/2030

(e) 400

Secured

Overnight

Financing

Rate

+

1.36%

Deutsche

Bank

AG/New

York

NY

5.41%,

05/10/2029

6.82%,

11/20/2029

(e) 400

Secured

Overnight

Financing

Rate

+

2.51%

Fifth

Third

Bancorp

4.89%,

09/06/2030

(e) 100

Secured

Overnight

Financing

Rate

+

1.49%

Goldman

Sachs

Group

Inc/The

2.64%,

02/24/2028

(e) 500

Secured

Overnight

Financing

Rate

+

1.11%

4.48%,

08/23/2028

(e) 500

503

Secured

Overnight

Financing

Rate

+

1.73%

4.96%,

12/09/2026

Secured

Overnight

Financing

Rate

+

0.79%

5.21%,

01/28/2031

(e) 500

516

Secured

Overnight

Financing

Rate

+

1.08%

5.22%,

04/23/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

04/25/2030

(e) 400

Secured

Overnight

Financing

Rate

+

1.27%

JPMorgan

Chase

&

Co

1.04%,

02/04/2027

(e) 700

692

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.70%

1.05%,

11/19/2026

(e) 700

697

Secured

Overnight

Financing

Rate

+

0.80%

4.45%,

12/05/2029

(e) 350

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

4.51%,

10/22/2028

(e) 200

Secured

Overnight

Financing

Rate

+

0.86%

4.92%,

01/24/2029

(e) 250

Secured

Overnight

Financing

Rate

+

0.80%

5.57%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

0.93%

5.58%,

04/22/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.16%

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

600

619

Mizuho

Financial

Group

Inc

4.71%,

07/08/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.92%

Morgan

Stanley

1.59%,

05/04/2027

(e) 550

541

Secured

Overnight

Financing

Rate

+

0.88%

2.48%,

01/21/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.00%

4.65%,

10/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.10%

5.05%,

01/28/2027

(e) 250

Secured

Overnight

Financing

Rate

+

1.30%

5.17%,

01/16/2030

(e) 450

Secured

Overnight

Financing

Rate

+

1.45%

5.23%,

01/15/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.11%

5.65%,

04/13/2028

(e) 125

Secured

Overnight

Financing

Rate

+

1.01%

5.66%,

04/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.26%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

Bank

NA

5.02%,

01/12/2029

(e) $

$

Secured

Overnight

Financing

Rate

+

0.91%

NatWest

Group

PLC

4.96%,

08/15/2030

(e) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.22%

5.43%,

11/15/2028

Secured

Overnight

Financing

Rate

+

1.30%

PNC

Bank

NA

4.54%,

05/13/2027

(e) 250

Secured

Overnight

Financing

Rate

+

0.63%

PNC

Financial

Services

Group

Inc/The

4.90%,

05/13/2031

(e),(f)

Secured

Overnight

Financing

Rate

+

1.33%

5.22%,

01/29/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.07%

Royal

Bank

of

Canada

0.88%,

01/20/2026

600

594

4.70%,

08/06/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.06%

Societe

Generale

SA

5.50%,

04/13/2029

(d),(e)

500

511

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.20%

5.51%,

05/22/2031

(d),(e)

Secured

Overnight

Financing

Rate

+

1.65%

Swedbank

AB

5.00%,

11/20/2029

(d),(f)

Toronto-Dominion

Bank/The

0.75%,

01/06/2026

600

595

Truist

Financial

Corp

1.27%,

03/02/2027

(e) 348

Secured

Overnight

Financing

Rate

+

0.61%

7.16%,

10/30/2029

(e) 300

Secured

Overnight

Financing

Rate

+

2.45%

UBS

Group

AG

3.87%,

01/12/2029

(d),(e)

750

744

Month

USD

LIBOR

+

1.41%

US

Bancorp

5.10%,

07/23/2030

(e) 150

Secured

Overnight

Financing

Rate

+

1.25%

5.38%,

01/23/2030

(e) 175

Secured

Overnight

Financing

Rate

+

1.56%

US

Bank

NA/Cincinnati

OH

4.73%,

05/15/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.91%

Wells

Fargo

&

Co

5.15%,

04/23/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.50%

5.24%,

01/24/2031

(e) 175

Secured

Overnight

Financing

Rate

+

1.11%

5.71%,

04/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.07%

$

23,239

Biotechnology

-

.50

%

Amgen

Inc

5.15%,

03/02/2028

Gilead

Sciences

Inc

4.80%,

11/15/2029

$

615

Building

Materials

-

.25

%

Vulcan

Materials

Co

4.95%,

12/01/2029

Chemicals

-

.21

%

Westlake

Corp

3.60%,

08/15/2026

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

-

.50

%

1301

Trust

2025-AOA

5.23%,

08/11/2042

(d),(g)

$

$

ALA

Trust

2025-OANA

5.89%,

06/15/2040

(d) 200

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.74%

Arbor

Multifamily

Mortgage

Securities

Trust

2022-MF4

3.27%,

02/15/2055

(d),(g)

ARES

Trust

2025-IND3

5.65%,

04/15/2042

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

BFLD

Commercial

Mortgage

Trust

2024-UNIV

5.64%,

11/15/2041

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.49%

BFLD

Commercial

Mortgage

Trust

2025-5MW

4.67%,

10/10/2042

(d),(g)

BX

2024-PALM

5.69%,

06/15/2037

(d) 260

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.54%

BX

Commercial

Mortgage

Trust

2021-ACNT

5.11%,

11/15/2038

(d) 312

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.96%

BX

Commercial

Mortgage

Trust

2021-VOLT

4.96%,

09/15/2036

(d) 969

966

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.81%

BX

Commercial

Mortgage

Trust

2024-AIRC

5.84%,

08/15/2039

(d) 468

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

BX

Commercial

Mortgage

Trust

2024-GPA3

5.44%,

12/15/2039

(d) 175

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

BX

Trust

2021-BXMF

4.90%,

10/15/2026

(d) 303

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.75%

BX

Trust

2021-LGCY

4.77%,

10/15/2036

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.62%

BX

Trust

2025-DIME

5.30%,

02/15/2035

(d) 350

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.15%

BX

Trust

2025-TAIL

5.55%,

06/15/2035

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

ELP

Commercial

Mortgage

Trust

2021-ELP

4.97%,

11/15/2038

(d) 744

743

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.82%

GS

Mortgage

Securities

Corp

Trust

2023-SHIP

4.47%,

09/10/2038

(d),(g)

GSAT

Trust

2025-BMF

5.65%,

07/15/2040

(d) 200

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2021-MHC

5.32%,

04/15/2038

(d) $

658

$

658

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.16%

KRE

Commercial

Mortgage

Trust

2025-AIP4

5.45%,

03/15/2042

(d) 400

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

LBA

Trust

2024-7IND

5.59%,

10/15/2041

(d) 278

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

LBA

Trust

2024-BOLT

5.74%,

06/15/2039

(d) 500

501

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

Life

2022-BMR

Mortgage

Trust

5.45%,

05/15/2039

(d) 800

778

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

MED

Commercial

Mortgage

Trust

2024-MOB

5.74%,

05/15/2041

(d) 500

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

MHC

Commercial

Mortgage

Trust

2021-MHC

5.07%,

04/15/2038

(d) 123

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.92%

MHP

2021-STOR

4.97%,

07/15/2038

(d) 650

650

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.81%

MHP

2022-MHIL

4.96%,

01/15/2039

(d) 25

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.81%

PENN

Commercial

Mortgage

Trust

2025-P11

5.52%,

08/10/2042

(d),(g)

PRM5

Trust

2025-PRM5

4.62%,

03/10/2033

(d),(g)

SREIT

Trust

2021-MFP

5.00%,

11/15/2038

(d) 503

503

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.85%

TEXAS

Commercial

Mortgage

Trust

2025-TWR

5.44%,

04/15/2042

(d) 200

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

WB

Commercial

Mortgage

Trust

2024-HQ

6.13%,

03/15/2040

(d),(g)

500

501

$

11,791

Computers

-

.26

%

Apple

Inc

4.00%,

05/12/2028

(f) 300

Dell

International

LLC

/

EMC

Corp

4.75%,

04/01/2028

5.00%,

04/01/2030

Hewlett

Packard

Enterprise

Co

4.40%,

09/25/2027

600

603

4.55%,

10/15/2029

$

1,562

Diversified

Financial

Services

-

.45

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

4.38%,

11/15/2030

(h) 200

6.45%,

04/15/2027

$

560

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

-

.17

%

Alliant

Energy

Finance

LLC

1.40%,

03/15/2026

(d) $

$

5.95%,

03/30/2029

(d) 500

523

Black

Hills

Corp

4.55%,

01/31/2031

(h) 200

Consumers

Energy

Co

4.90%,

02/15/2029

Dominion

Energy

Inc

4.60%,

05/15/2028

DTE

Energy

Co

3.40%,

06/15/2029

Evergy

Kansas

Central

Inc

4.70%,

03/13/2028

Exelon

Corp

5.15%,

03/15/2029

Fortis

Inc/Canada

3.06%,

10/04/2026

656

648

NextEra

Energy

Capital

Holdings

Inc

4.90%,

02/28/2028

4.90%,

03/15/2029

(f) 300

NRG

Energy

Inc

4.73%,

10/15/2030

(d),(h)

OGE

Energy

Corp

5.45%,

05/15/2029

PacifiCorp

5.10%,

02/15/2029

Public

Service

Enterprise

Group

Inc

4.90%,

03/15/2030

5.20%,

04/01/2029

5.88%,

10/15/2028

Southern

Co/The

5.50%,

03/15/2029

500

520

Southern

Power

Co

4.25%,

10/01/2030

Southwestern

Electric

Power

Co

1.65%,

03/15/2026

600

593

Tampa

Electric

Co

4.90%,

03/01/2029

Vistra

Operations

Co

LLC

3.70%,

01/30/2027

(d) 800

793

Wisconsin

Public

Service

Corp

4.55%,

12/01/2029

Xcel

Energy

Inc

1.75%,

03/15/2027

$

7,649

Environmental

Control

-

.25

%

Republic

Services

Inc

4.75%,

07/15/2030

Food

-

.41

%

Mars

Inc

4.60%,

03/01/2028

(d) 200

4.80%,

03/01/2030

(d) 300

$

508

Gas

-

.12

%

NiSource

Inc

5.25%,

03/30/2028

Healthcare

-

Products

-

.16

%

Solventum

Corp

5.40%,

03/01/2029

Healthcare

-

Services

-

.86

%

Cigna

Group/The

1.25%,

03/15/2026

HCA

Inc

5.25%,

06/15/2026

700

702

5.88%,

02/01/2029

$

1,063

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Home

Equity

Asset

Backed

Securities

-

.17

%

JP

Morgan

Mortgage

Trust

2023-HE1

6.14%,

11/25/2053

(d) $

$

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.75%

JP

Morgan

Mortgage

Trust

2023-HE2

6.09%,

03/20/2054

(d) 286

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.70%

JP

Morgan

Mortgage

Trust

2023-HE3

5.99%,

05/20/2054

(d) 176

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.60%

JP

Morgan

Mortgage

Trust

Series

2024-HE3

5.59%,

02/25/2055

(d) 365

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.20%

JP

Morgan

Mortgage

Trust

Series

2025-CES2

5.59%,

06/25/2055

(d),(g)

JP

Morgan

Mortgage

Trust

Series

2025-HE1

5.54%,

07/20/2055

(d) 308

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.15%

$

1,446

Insurance

-

.70

%

Aon

North

America

Inc

5.15%,

03/01/2029

700

720

Arthur

J

Gallagher

&

Co

4.85%,

12/15/2029

Brown

&

Brown

Inc

4.90%,

06/23/2030

Guardian

Life

Global

Funding

0.88%,

12/10/2025

(d) 300

Markel

Group

Inc

3.50%,

11/01/2027

New

York

Life

Global

Funding

4.60%,

12/05/2029

(d) 200

4.60%,

06/03/2030

(d) 350

Northwestern

Mutual

Global

Funding

0.80%,

01/14/2026

(d) 500

4.96%,

01/13/2030

(d) 300

5.07%,

03/25/2027

(d) 500

508

$

3,348

Internet

-

.40

%

eBay

Inc

1.40%,

05/10/2026

500

Machinery

-

Diversified

-

.25

%

Ingersoll

Rand

Inc

5.20%,

06/15/2027

Westinghouse

Air

Brake

Technologies

Corp

4.90%,

05/29/2030

$

Media

-

.42

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

6.10%,

06/01/2029

500

525

Mining

-

.08

%

Glencore

Funding

LLC

5.19%,

04/01/2030

(d) 100

Mortgage

Backed

Securities

-

.67

%

Chase

Home

Lending

Mortgage

Trust

2025-3

5.50%,

02/25/2056

(d),(g)

Chase

Home

Lending

Mortgage

Trust

Series

2024-2

6.50%,

02/25/2055

(d),(g)

CHL

Mortgage

Pass-Through

Trust

2003-46

6.26%,

01/19/2034

(g) 7

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

GS

Mortgage-Backed

Securities

Corp

Trust

2021-PJ3

2.50%,

08/25/2051

(d),(g)

$

$

JP

Morgan

Mortgage

Trust

2004-A3

6.51%,

07/25/2034

(g) 3

JP

Morgan

Mortgage

Trust

2004-S1

5.00%,

09/25/2034

JP

Morgan

Mortgage

Trust

2021-1

2.50%,

06/25/2051

(d),(g)

JP

Morgan

Mortgage

Trust

2023-10

6.00%,

05/25/2054

(d),(g)

JP

Morgan

Mortgage

Trust

2023-8

6.00%,

02/25/2054

(d),(g)

767

775

JP

Morgan

Mortgage

Trust

Series

2024-CES1

5.92%,

06/25/2054

(d),(g)

JP

Morgan

Mortgage

Trust

Series

2025-CES1

5.67%,

05/25/2055

(d),(g)

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2020-1

2.50%,

12/25/2050

(d),(g)

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2025-1

5.50%,

03/25/2055

(d),(g)

Oceanview

Mortgage

Trust

2021-3

2.50%,

06/25/2051

(d),(g)

PHH

Mortgage

Trust

Series

2008-CIM1

6.64%,

06/25/2038

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.36%

PSMC

2021-3

Trust

2.50%,

08/25/2051

(d),(g)

616

556

Sequoia

Mortgage

Trust

2020-4

2.50%,

11/25/2050

(d),(g)

Sequoia

Mortgage

Trust

2021-3

2.50%,

05/25/2051

(d),(g)

Sequoia

Mortgage

Trust

2021-4

2.50%,

06/25/2051

(d),(g)

Sequoia

Mortgage

Trust

2024-1

5.88%,

01/25/2054

(d),(g)

Sequoia

Mortgage

Trust

2024-2

6.00%,

03/25/2054

(d),(g)

Sequoia

Mortgage

Trust

2024-4

6.00%,

05/25/2054

(d),(g)

699

707

Wells

Fargo

Mortgage

Backed

Securities

2020-3

Trust

3.00%,

06/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2020-4

Trust

3.00%,

07/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2020-5

Trust

2.50%,

09/25/2050

(d),(g)

Wells

Fargo

Mortgage

Backed

Securities

2021-1

Trust

2.50%,

12/25/2050

(d),(g)

$

5,796

Oil

&

Gas

-

.12

%

Canadian

Natural

Resources

Ltd

5.00%,

12/15/2029

(d) 165

Diamondback

Energy

Inc

5.15%,

01/30/2030

5.20%,

04/18/2027

EOG

Resources

Inc

4.40%,

07/15/2028

Occidental

Petroleum

Corp

5.20%,

08/01/2029

$

1,391

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

Services

-

.33

%

Schlumberger

Holdings

Corp

5.00%,

05/29/2027

(d) $

$

5.00%,

11/15/2029

(d) 200

$

Other

Asset

Backed

Securities

-

.21

%

1988

CLO

Ltd

5.52%,

04/15/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

Capital

CLO

II

5.61%,

07/15/2034

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

720

East

CLO

V

Ltd

5.86%,

07/20/2037

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.53%

AB

BSL

CLO

Ltd

5.63%,

04/20/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

Bardot

CLO

Ltd

5.31%,

10/22/2032

(d) 417

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.98%

CCG

Receivables

Trust

2024-1

4.99%,

03/15/2032

(d) 151

Cerberus

Loan

Funding

XXIV

LP

5.67%,

07/15/2030

(d) 290

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

CF

Hippolyta

Issuer

LLC

1.53%,

03/15/2061

(d) 1,313

1,093

1.69%,

07/15/2060

(d) 448

CNH

Equipment

Trust

2024-B

5.42%,

10/15/2027

Dell

Equipment

Finance

Trust

2024-1

5.58%,

03/22/2030

(d) 50

Dewolf

Park

CLO

Ltd

5.50%,

10/15/2030

(d) 346

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.18%

DLLAA

2025-1

LLC

4.70%,

10/20/2027

(d) 280

Dllad

2024-1

LLC

5.50%,

08/20/2027

(d) 158

DLLAD

2025-1

LLC

4.46%,

11/20/2028

(d) 200

Empower

CLO

2025-1

Ltd

5.64%,

07/20/2038

(d) 400

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.31%

GreatAmerica

Leasing

Receivables

Funding

LLC

Series

2024-1

5.32%,

08/17/2026

(d) 147

Lake

Shore

MM

CLO

II

Ltd

5.72%,

10/17/2031

(d) 398

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

Madison

Park

Funding

XL-R

Ltd

5.25%,

10/16/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

Magnetite

XLVII

Ltd

5.65%,

01/25/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.33%

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Maranon

Loan

Funding

2021-3

Ltd

6.07%,

10/15/2036

(d) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Marathon

CLO

XIII

Ltd

5.52%,

04/15/2032

(d) 704

704

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

MVW

2021-1W

LLC

1.14%,

01/22/2041

(d) 18

MVW

2023-2

LLC

6.18%,

11/20/2040

(d) 257

MVW

2024-2

LLC

4.43%,

03/20/2042

(d) 382

New

Mountain

CLO

Ltd

5.72%,

10/15/2037

(d) 300

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

New

Mountain

CLO

Ltd

5.48%,

03/31/2038

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

Oaktree

CLO

2019-4

Ltd

5.84%,

07/20/2037

(d) 500

501

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

Oaktree

CLO

2024-25

Ltd

5.88%,

04/20/2037

(d) 500

502

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.55%

PFS

Financing

Corp

4.85%,

02/15/2030

(d) 450

4.95%,

02/15/2029

(d) 650

658

5.52%,

10/15/2028

(d) 200

Signal

Peak

CLO

Ltd

5.78%,

07/18/2037

(d) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.45%

T-Mobile

US

Trust

2025-2

4.34%,

04/22/2030

(d) 200

Trafigura

Securitisation

Finance

PLC

5.98%,

11/15/2027

(d) 750

761

Verizon

Master

Trust

4.17%,

08/20/2030

4.35%,

08/20/2032

(d) 250

4.49%,

01/22/2029

700

701

4.62%,

11/20/2030

5.16%,

06/20/2029

600

605

Voya

2012-4

Ltd

5.58%,

10/15/2030

(d) 109

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.26%

$

13,905

Packaging

&

Containers

-

.69

%

Graphic

Packaging

International

LLC

1.51%,

04/15/2026

(d) 450

Smurfit

Kappa

Treasury

ULC

5.20%,

01/15/2030

$

854

Pharmaceuticals

-

.85

%

AbbVie

Inc

4.80%,

03/15/2029

(f) 500

511

Astrazeneca

Finance

LLC

4.85%,

02/26/2029

Bristol-Myers

Squibb

Co

4.90%,

02/22/2029

500

513

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Eli

Lilly

&

Co

4.50%,

02/09/2029

$

500

$

508

4.55%,

02/12/2028

4.75%,

02/12/2030

$

2,299

Pipelines

-

.48

%

Columbia

Pipelines

Holding

Co

LLC

6.04%,

08/15/2028

(d) 525

548

6.06%,

08/15/2026

(d) 150

Enbridge

Inc

5.30%,

04/05/2029

5.90%,

11/15/2026

525

534

Energy

Transfer

LP

4.40%,

03/15/2027

5.55%,

02/15/2028

Kinder

Morgan

Inc

5.00%,

02/01/2029

500

511

5.10%,

08/01/2029

ONEOK

Inc

4.25%,

09/24/2027

500

501

4.40%,

10/15/2029

5.55%,

11/01/2026

Williams

Cos

Inc/The

4.63%,

06/30/2030

5.40%,

03/02/2026

$

4,323

REITs

-

.96

%

American

Homes

Rent

LP

4.95%,

06/15/2030

American

Tower

Corp

5.00%,

01/31/2030

American

Tower

Trust

#1

3.65%,

03/15/2048

(d) 270

5.49%,

03/15/2053

(d) 500

509

CubeSmart

LP

4.00%,

11/15/2025

Omega

Healthcare

Investors

Inc

5.20%,

07/01/2030

Public

Storage

Operating

Co

4.38%,

07/01/2030

4.87%,

04/16/2027

Secured

Overnight

Financing

Rate

+

0.70%

SBA

Tower

Trust

1.63%,

05/15/2051

(d) 500

1.88%,

07/15/2050

(d) 125

2.33%,

07/15/2052

(d) 653

621

Welltower

OP

LLC

4.50%,

07/01/2030

$

3,678

Semiconductors

-

.70

%

Advanced

Micro

Devices

Inc

4.21%,

09/24/2026

(f) 200

4.32%,

03/24/2028

Broadcom

Inc

4.60%,

07/15/2030

5.05%,

07/12/2029

Marvell

Technology

Inc

4.75%,

07/15/2030

Micron

Technology

Inc

6.75%,

11/01/2029

Texas

Instruments

Inc

4.60%,

02/08/2029

(f) 500

510

$

2,114

Software

-

.43

%

Oracle

Corp

4.20%,

09/27/2029

4.80%,

08/03/2028

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Roper

Technologies

Inc

4.50%,

10/15/2029

$

$

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

500

509

5.40%,

06/12/2029

$

1,774

Student

Loan

Asset

Backed

Securities

-

.56

%

Commonbond

Student

Loan

Trust

2018-BGS

3.56%,

09/25/2045

(d) 44

Commonbond

Student

Loan

Trust

2018-C-GS

3.87%,

02/25/2046

(d) 46

Commonbond

Student

Loan

Trust

2019-A-GS

2.54%,

01/25/2047

(d) 94

Commonbond

Student

Loan

Trust

2020-A-GS

1.98%,

08/25/2050

(d) 180

Commonbond

Student

Loan

Trust

2021-A-GS

1.20%,

03/25/2052

(d) 181

Commonbond

Student

Loan

Trust

2021-B-GS

1.17%,

09/25/2051

(d) 226

EDvestinU

Private

Education

Loan

Issue

No

LLC

1.80%,

11/25/2045

(d) 100

ELFI

Graduate

Loan

Program

2024-A

LLC

5.56%,

08/25/2049

(d) 452

Navient

Education

Loan

Trust

2025-A

5.02%,

07/15/2055

(d) 95

Navient

Private

Education

Refi

Loan

Trust

2019-A

3.42%,

01/15/2043

(d) 5

Navient

Private

Education

Refi

Loan

Trust

2019-G

2.40%,

10/15/2068

(d) 39

Navient

Private

Education

Refi

Loan

Trust

2020-D

1.69%,

05/15/2069

(d) 69

Navient

Private

Education

Refi

Loan

Trust

2020-F

1.22%,

07/15/2069

(d) 72

Navient

Private

Education

Refi

Loan

Trust

2020-G

1.17%,

09/16/2069

(d) 82

Navient

Private

Education

Refi

Loan

Trust

2020-H

1.31%,

01/15/2069

(d) 47

Navient

Private

Education

Refi

Loan

Trust

2021-A

0.84%,

05/15/2069

(d) 61

Navient

Private

Education

Refi

Loan

Trust

2021-B

0.94%,

07/15/2069

(d) 476

Navient

Private

Education

Refi

Loan

Trust

2021-C

1.06%,

10/15/2069

(d) 84

Navient

Private

Education

Refi

Loan

Trust

2021-E

0.97%,

12/16/2069

(d) 226

Navient

Private

Education

Refi

Loan

Trust

2021-F

1.11%,

02/18/2070

(d) 249

Navient

Private

Education

Refi

Loan

Trust

2022-A

2.23%,

07/15/2070

(d) 147

Navient

Private

Education

Refi

Loan

Trust

2023-A

5.51%,

10/15/2071

(d) 169

Navient

Private

Education

Refi

Loan

Trust

2024-A

5.66%,

10/15/2072

(d) 277

Navient

Refinance

Loan

Trust

2025-B

4.72%,

09/15/2055

(d) 300

Nelnet

Student

Loan

Trust

2021-A

1.36%,

04/20/2062

(d) 315

Nelnet

Student

Loan

Trust

2021-C

1.32%,

04/20/2062

(d) 101

Nelnet

Student

Loan

Trust

2021-D

1.63%,

04/20/2062

(d) 198

SLM

Private

Credit

Student

Loan

Trust

2004-A

4.70%,

06/15/2033

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.66%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Student

Loan

Asset

Backed

Securities

(continued)

SLM

Private

Credit

Student

Loan

Trust

2006-A

4.59%,

06/15/2039

$

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.55%

SLM

Private

Credit

Student

Loan

Trust

2006-B

4.50%,

12/15/2039

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.46%

SMB

Private

Education

Loan

Trust

2021-A

1.07%,

01/15/2053

(d) 216

SMB

Private

Education

Loan

Trust

2021-B

1.31%,

07/17/2051

(d) 201

SMB

Private

Education

Loan

Trust

2021-D

1.34%,

03/17/2053

(d) 360

SMB

Private

Education

Loan

Trust

2021-E

1.68%,

02/15/2051

(d) 256

SMB

Private

Education

Loan

Trust

2022-C

4.48%,

05/16/2050

(d) 266

$

5,663

Telecommunications

-

.78

%

AT&T

Inc

1.70%,

03/25/2026

4.70%,

08/15/2030

Cisco

Systems

Inc

4.75%,

02/24/2030

4.85%,

02/26/2029

500

513

Crown

Castle

Towers

LLC

4.24%,

07/15/2048

(d) 290

NTT

Finance

Corp

4.62%,

07/16/2028

(d) 200

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

5.15%,

09/20/2029

(d) 250

$

2,210

Transportation

-

.32

%

Ryder

System

Inc

1.75%,

09/01/2026

TOTAL

BONDS

$

107,931

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.71

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.00

%

6.45%,

09/01/2035

$

$

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.25%

Federal

National

Mortgage

Association

(FNMA)

-

.01

%

6.14%,

07/01/2034

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.58%

6.18%,

04/01/2033

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

6-Month

+

1.51%

6.22%,

02/01/2037

1.00 x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.01%

6.37%,

08/01/2034

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.63%

6.52%,

12/01/2032

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.64%

6.75%,

01/01/2035

1.00 x

Refinitiv

USD

IBOR

Consumer

Cash

Fallback

12-Month

+

1.75%

$

Schedule

of

Investments

Short-Term

Income

Account

September

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

-

.70

%

3.25%,

06/30/2029

$

3,000

$

2,955

4.00%,

01/15/2027

5,800

5,822

4.50%,

07/15/2026

2,000

2,011

$

10,788

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

10,808

Total

Investments

$

124,352

Other

Assets

and

Liabilities

- (0.22)%

(269)

TOTAL

NET

ASSETS

-

100.00%

$

124,083

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,095

or

0.88%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$52,292

or

42.14%

of

net

assets.

(e) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(f) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,058

or

0.85%

of

net

assets.

(g) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(h) Security

purchased

on

a

when-issued

basis.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

8,662

$

58,952

$

63,096

$

4,518

$

8,662

$

58,952

$

63,096

$

4,518

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Year

Treasury Note;

December

2025

Long

$

5,023

$

(7)

Total

$

(7)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.93

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.93

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.02%

(a),(b)

1,154,016

$

1,154

Principal

Government

Money

Market

Fund

-

Class

4.04%

(a),(c)

455,069

$

1,609

TOTAL

INVESTMENT

COMPANIES

$

1,609

COMMON

STOCKS

-

.01

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.99

%

AAR

Corp

(d) 18,000

$

1,614

Curtiss-Wright

Corp

3,400

1,846

$

3,460

Agriculture

-

.73

%

Darling

Ingredients

Inc

(d) 32,200

994

Vital

Farms

Inc

(d) 48,700

2,004

$

2,998

Apparel

-

.75

%

PVH

Corp

15,500

1,298

Automobile

Parts

&

Equipment

-

.72

%

Visteon

Corp

10,500

1,259

Banks

-

.40

%

Ameris

Bancorp

26,200

1,921

First

Horizon

Corp

73,800

1,668

First

Merchants

Corp

26,900

1,014

FNB

Corp/PA

124,058

1,998

Independent

Bank

Corp/MI

12,000

National

Bank

Holdings

Corp

16,100

622

Pinnacle

Financial

Partners

Inc

16,300

1,529

Popular

Inc

25,200

3,201

UMB

Financial

Corp

24,300

2,876

Webster

Financial

Corp

14,607

868

Wintrust

Financial

Corp

15,100

2,000

$

18,069

Biotechnology

-

.36

%

Akero

Therapeutics

Inc

(d) 14,456

686

Axsome

Therapeutics

Inc

(d) 13,200

1,603

Bicycle

Therapeutics

PLC

ADR

(d) 45,500

Bridgebio

Pharma

Inc

(d) 40,400

2,098

Cytokinetics

Inc

(d) 34,100

1,874

Denali

Therapeutics

Inc

(d) 50,000

726

Immunocore

Holdings

PLC

ADR

(d) 16,300

592

Immunome

Inc

(d) 44,200

518

Insmed

Inc

(d) 30,600

4,407

Iovance

Biotherapeutics

Inc

(d) 123,500

MoonLake

Immunotherapeutics

(d),(e)

2,200

Structure

Therapeutics

Inc

ADR

(d) 31,500

882

Viking

Therapeutics

Inc

(d) 19,400

510

$

14,532

Building

Materials

-

.64

%

Eagle

Materials

Inc

3,657

852

Louisiana-Pacific

Corp

8,700

773

Modine

Manufacturing

Co

(d) 23,500

3,341

SPX

Technologies

Inc

(d) 10,380

1,939

Trex

Co

Inc

(d) 22,400

1,157

$

8,062

Commercial

Services

-

.53

%

ABM

Industries

Inc

35,400

1,633

Huron

Consulting

Group

Inc

(d) 10,800

1,585

Remitly

Global

Inc

(d) 20,200

Stride

Inc

(d) 17,400

2,592

$

6,139

Computers

-

.57

%

Netskope

Inc

(d) 44,000

1,000

Parsons

Corp

(d) 22,100

1,833

SailPoint

Inc

(d),(e)

18,500

Varonis

Systems

Inc

(d) 51,500

2,960

$

6,201

Distribution

&

Wholesale

-

.31

%

WESCO

International

Inc

10,800

2,284

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

.09

%

Janus

Henderson

Group

PLC

45,400

$

2,021

Jefferson

Capital

Inc

28,117

Lazard

Inc

46,600

2,460

Marex

Group

PLC

20,292

682

OneMain

Holdings

Inc

19,700

1,112

Stifel

Financial

Corp

18,400

2,088

$

8,848

Electrical

Components

&

Equipment

-

.89

%

EnerSys

13,709

1,549

Electronics

-

.62

%

Advanced

Energy

Industries

Inc

15,500

2,637

TD

SYNNEX

Corp

11,732

1,921

$

4,558

Engineering

&

Construction

-

.91

%

Dycom

Industries

Inc

(d) 11,200

3,268

MYR

Group

Inc

(d) 10,600

2,205

Sterling

Infrastructure

Inc

(d) 9,000

3,057

$

8,530

Entertainment

-

.40

%

Caesars

Entertainment

Inc

(d) 25,600

692

TKO

Group

Holdings

Inc

8,600

1,737

$

2,429

Food

-

.04

%

Performance

Food

Group

Co

(d) 17,300

1,800

Gas

-

.65

%

Southwest

Gas

Holdings

Inc

36,700

2,875

Healthcare

-

Products

-

.34

%

Castle

Biosciences

Inc

(d) 66,400

1,512

Exact

Sciences

Corp

(d) 31,500

1,723

Natera

Inc

(d) 15,900

2,560

$

5,795

Healthcare

-

Services

-

.66

%

Addus

HomeCare

Corp

(d) 12,500

1,475

LifeStance

Health

Group

Inc

(d) 108,500

597

Privia

Health

Group

Inc

(d) 77,600

1,932

RadNet

Inc

(d) 30,800

2,347

$

6,351

Home

Builders

-

.51

%

Taylor

Morrison

Home

Corp

(d) 39,800

2,627

Insurance

-

.49

%

Axis

Capital

Holdings

Ltd

7,900

757

CNO

Financial

Group

Inc

40,871

1,616

Essent

Group

Ltd

21,900

1,392

Lincoln

National

Corp

56,800

2,291

$

6,056

Internet

-

.55

%

Stubhub

Holdings

Inc

(d),(e)

56,300

948

Iron

&

Steel

-

.24

%

Commercial

Metals

Co

37,600

2,154

Leisure

Products

&

Services

-

.59

%

Life

Time

Group

Holdings

Inc

(d) 77,100

2,128

Lindblad

Expeditions

Holdings

Inc

(d) 49,200

630

$

2,758

Machinery

-

Diversified

-

.31

%

Chart

Industries

Inc

(d) 5,700

1,141

Mueller

Water

Products

Inc

-

Class

A

86,000

2,194

Regal

Rexnord

Corp

13,000

1,865

Zurn

Elkay

Water

Solutions

Corp

48,800

2,295

$

7,495

Miscellaneous

Manufacturers

-

.64

%

Fabrinet

(d) 3,040

1,108

Oil

&

Gas

-

.15

%

Chord

Energy

Corp

9,700

964

Gulfport

Energy

Corp

(d) 12,300

2,226

Patterson-UTI

Energy

Inc

107,000

554

$

3,744

Schedule

of

Investments

SmallCap

Account

September

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

Services

-

.57

%

Helix

Energy

Solutions

Group

Inc

(d) 150,700

$

989

Packaging

&

Containers

-

.81

%

Graphic

Packaging

Holding

Co

71,900

1,407

Pharmaceuticals

-

.49

%

AdaptHealth

Corp

(d) 60,500

541

BellRing

Brands

Inc

(d) 13,500

Collegium

Pharmaceutical

Inc

(d) 44,400

1,554

$

2,586

Real

Estate

-

.96

%

Newmark

Group

Inc

89,600

1,671

REITs

-

.75

%

Agree

Realty

Corp

34,500

2,451

American

Healthcare

REIT

Inc

26,400

1,109

Cousins

Properties

Inc

47,400

1,371

First

Industrial

Realty

Trust

Inc

33,900

1,745

Ladder

Capital

Corp

55,800

609

Rexford

Industrial

Realty

Inc

23,500

966

$

8,251

Retail

-

.01

%

American

Eagle

Outfitters

Inc

38,500

659

BJ's

Wholesale

Club

Holdings

Inc

(d) 17,100

1,594

Boot

Barn

Holdings

Inc

(d) 7,500

1,243

$

3,496

Semiconductors

-

.06

%

Allegro

MicroSystems

Inc

(d) 54,600

1,594

Entegris

Inc

10,300

953

SiTime

Corp

(d) 9,200

2,772

$

5,319

Software

-

.33

%

Agilysys

Inc

(d) 13,200

1,389

Clearwater

Analytics

Holdings

Inc

(d) 80,500

1,450

JFrog

Ltd

(d) 48,000

2,272

Progress

Software

Corp

(d) 21,600

949

ServiceTitan

Inc

(d) 15,200

1,533

Sophia

Genetics

SA

(d) 58,400

Vertex

Inc

(d) 34,454

854

Via

Transportation

Inc

(d) 11,000

529

$

9,254

Telecommunications

-

.87

%

Credo

Technology

Group

Holding

Ltd

(d) 22,375

3,258

Transportation

-

.19

%

Teekay

Tankers

Ltd

25,900

1,309

World

Kinect

Corp

29,500

766

$

2,075

Water

-

.89

%

American

States

Water

Co

21,000

1,540

TOTAL

COMMON

STOCKS

$

173,773

Total

Investments

$

175,382

Other

Assets

and

Liabilities

- (0.94)%

(1,633)

TOTAL

NET

ASSETS

-

100.00%

$

173,749

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,154

or

0.66%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,101

or

0.63%

of

net

assets.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

35,902

$

35,941

$

$

$

35,902

$

35,941

$

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

April

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.16

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.14

%

iShares

Core

S&P

500

ETF

(a) 28,484

$

19,065

SPDR

Portfolio

S&P

500

ETF

(a) 63,318

4,960

SPDR

S&P

500

ETF

Trust

5,704

3,800

Vanguard

S&P

500

ETF

9,326

5,711

$

33,536

Money

Market

Funds

-

.02

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(b),(c)

8,452

TOTAL

INVESTMENT

COMPANIES

$

33,544

TOTAL

PURCHASED

OPTIONS

-

16.96%

$

6,107

Total

Investments

$

39,651

Other

Assets

and

Liabilities

- (10.12)%

(3,645)

TOTAL

NET

ASSETS

-

100.00%

$

36,006

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$12,734

or

35.36%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

11,195

$

11,311

$

$

$

11,195

$

11,311

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.61

03/31/2026

$

4,775

$

5,692

$

917

Put

-

S&P

500

Mini

Index

(a) N/A

594

$

561

.19

03/31/2026

1,909

(1,494)

Total

$

6,684

$

6,107

$

(577)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

617

.31

03/31/2026

$

(375)

$

(1,396)

$

(1,021)

Put

-

S&P

500

Mini

Index

(a) N/A

594

$

505

.07

03/31/2026

(1,019)

(227)

792

Total

$

(1,394)

$

(1,623)

$

(229)

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

January

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.05

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.04

%

iShares

Core

S&P

500

ETF

(a) 22,845

$

15,290

SPDR

Portfolio

S&P

500

ETF

(a) 50,791

3,979

SPDR

S&P

500

ETF

Trust

(a) 4,566

3,042

Vanguard

S&P

500

ETF

(a) 7,462

4,569

$

26,880

Money

Market

Funds

-

.01

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(b),(c)

2,642

TOTAL

INVESTMENT

COMPANIES

$

26,883

TOTAL

PURCHASED

OPTIONS

-

14.95%

$

4,100

Total

Investments

$

30,983

Other

Assets

and

Liabilities

- (13.00)%

(3,565)

TOTAL

NET

ASSETS

-

100.00%

$

27,418

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,426

or

41.67%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

—

$

43,720

$

43,717

$

$

—

$

43,720

$

43,717

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.88

12/31/2025

$

3,408

$

3,905

$

Put

-

S&P

500

Mini

Index

(a) N/A

$

588

.16

12/31/2025

1,263

(1,068)

Total

$

4,671

$

4,100

$

(571)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

646

.98

12/31/2025

$

(304)

$

(643)

$

(339)

Put

-

S&P

500

Mini

Index

(a) N/A

$

529

.34

12/31/2025

(684)

(86)

598

Total

$

(988)

$

(729)

$

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

July

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.57

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.44

%

iShares

Core

S&P

500

ETF

(a) 85,667

$

57,337

SPDR

Portfolio

S&P

500

ETF

(a) 190,270

14,906

SPDR

S&P

500

ETF

Trust

(a) 17,199

11,457

Vanguard

S&P

500

ETF

(a) 28,080

17,196

$

100,896

Money

Market

Funds

-

.13

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(b),(c)

81,922

TOTAL

INVESTMENT

COMPANIES

$

100,978

TOTAL

PURCHASED

OPTIONS

-

27.80%

$

17,270

Total

Investments

$

118,248

Other

Assets

and

Liabilities

- (90.37)%

(56,133)

TOTAL

NET

ASSETS

-

100.00%

$

62,115

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$34,336

or

55.28%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

871

$

43,827

$

44,616

$

$

871

$

43,827

$

44,616

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.21

06/30/2026

$

12,996

$

13,931

$

935

Put

-

S&P

500

Mini

Index

(a) N/A

1,741

$

620

.50

06/30/2026

5,432

3,339

(2,093)

Total

$

18,428

$

17,270

$

(1,158)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

510

$

$

682

.55

06/30/2026

$

(1,024)

$

(1,932)

$

(908)

Put

-

S&P

500

Mini

Index

(a) N/A

1,741

$

558

.45

06/30/2026

(3,034)

(1,833)

1,201

Total

$

(4,058)

$

(3,765)

$

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Schedule

of

Investments

U.S.

LargeCap

S&P

500

Index

Buffer

October

Account

September

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.14

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.07

%

iShares

Core

S&P

500

ETF

(a) 31,154

$

20,851

SPDR

Portfolio

S&P

500

ETF

(a) 69,198

5,421

SPDR

S&P

500

ETF

Trust

(a) 6,261

4,171

Vanguard

S&P

500

ETF

(a) 10,215

6,256

$

36,699

Money

Market

Funds

-

.07

%

Principal

Government

Money

Market

Fund

-

Class

4.04%

(b),(c)

68,847

TOTAL

INVESTMENT

COMPANIES

$

36,768

TOTAL

PURCHASED

OPTIONS

-

7.33%

$

7,262

Total

Investments

$

44,030

Other

Assets

and

Liabilities

- 55.53%

54,983

TOTAL

NET

ASSETS

-

100.00%

$

99,013

(a) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$16,922

or

17.09%

of

net

assets.

(b) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(c) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

December

31,

2024

Purchases

Sales

September

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

7,529

$

4,303

$

11,763

$

$

7,529

$

4,303

$

11,763

$

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

4.04%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

.69

09/30/2026

$

4,961

$

5,014

$

Put

-

S&P

500

Mini

Index

(a) N/A

633

$

668

.85

09/30/2026

2,257

2,248

(9)

Total

$

7,218

$

7,262

$

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

S&P

500

Mini

Index

(a) N/A

$

$

735

.74

09/30/2026

$

(404)

$

(406)

$

(2)

Put

-

S&P

500

Mini

Index

(a) N/A

633

$

601

.97

09/30/2026

(1,286)

(1,288)

(2)

Total

$

(1,690)

$

(1,694)

$

(4)

Amounts

in

thousands

except

contracts/shares.

(a) FLEX

Options

which

are

customized

exchange-traded

option

contracts.

Glossary

to

the

Schedule

of

Investments

September

30,

2025

(unaudited)

Currency

Abbreviations

USD/$

United

States

Dollar

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 801 Grand Ave

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

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

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

- **a. Name of Series:** SAM Balanced Portfolio

- **b. EDGAR series identifier (if any):** S000014090

- **c. LEI of Series:** 549300RTKZ1JJN3UX337

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $577072939.46

**Total Liabilities:** $147307.23

**Net Assets:** $576925632.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000038542 | 0.82%                | 1.94%                | 2.32%                |
| Class ID C000038543 | 0.80%                | 2.03%                | 2.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1598770.13              | $2344025.58                                |
| Month 2  | $820123.22               | $10142041.24                               |
| Month 3  | $6438657.63              | $4839784.60                                |

### Schedule of Portfolio Investments

| Name                                                  | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Diversified Real Asset Fund                           | Diversified Real Asset Fund                           | CUSIP: 742537467<br>LEI: 549300FY1HF8KNDK4G58 | Long             | EC               | RF                | US        |   1145886 | NS      | $13865223.47  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LargeCap Growth Fund I                                | LargeCap Growth Fund I                                | CUSIP: 742537590<br>LEI: 5493005TWCHTR0PO8C36 | Long             | EC               | RF                | US        |   1482345 | NS      | $27497495.61  | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Fixed Income Fund                                | Core Fixed Income Fund                                | CUSIP: 742537616<br>LEI: 2K6IF9KYA1Q08XNZVZ48 | Long             | EC               | RF                | US        |   8334434 | NS      | $72759604.87  | 12.61%            |  |  |  | No            |                  1 | On Loan: No      |
| LargeCap Value Fund III                               | LargeCap Value Fund III                               | CUSIP: 74253J677<br>LEI: 549300P5E4OK1XZWQO33 | Long             | EC               | RF                | US        |   1197233 | NS      | $24627076.10  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LargeCap S&P 500 Index Fund                           | LargeCap S&P 500 Index Fund                           | CUSIP: 74253Q788<br>LEI: 549300HDJCROTIVIXD92 | Long             | EC               | RF                | US        |    381019 | NS      | $12375500.14  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Inflation Protection Fund                             | Inflation Protection Fund                             | CUSIP: 74254T815<br>LEI: 5493006ECFME6VCZ0U45 | Long             | EC               | RF                | US        |   1800562 | NS      | $14476522.08  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Capital Appreciation Fund                   | Principal Capital Appreciation Fund                   | CUSIP: 74254U432<br>LEI: 549300488LDV833BXR20 | Long             | EC               | RF                | US        |    707298 | NS      | $65396799.34  | 11.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Income Fund                                | Short-Term Income Fund                                | CUSIP: 74254U440<br>LEI: IJOCWVJG326LDFE5SJ51 | Long             | EC               | RF                | US        |   1298993 | NS      | $15782767.16  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bond Market Index Fund                                | Bond Market Index Fund                                | CUSIP: 742553316<br>LEI: VNIC77YUXCT48GBDSU43 | Long             | EC               | RF                | US        |   4001864 | NS      | $35176387.69  | 6.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Overseas Fund                                         | Overseas Fund                                         | CUSIP: 742553571<br>LEI: M8LPS0WBNG35BUE1BV52 | Long             | EC               | RF                | US        |    466159 | NS      | $5607895.03   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Finisterre Emerging Markets Total Return Bond Fund    | Finisterre Emerging Markets Total Return Bond Fund    | CUSIP: 74255L175<br>LEI: 549300MNS2JZWUXHD778 | Long             | EC               | RF                | US        |    958070 | NS      | $9120827.61   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal U.S. Small-Cap ETF                          | Principal U.S. Small-Cap ETF                          | CUSIP: 74255Y607<br>LEI: 5493008MXNTNT2RRXN18 | Long             | EC               | RF                | US        |    166600 | NS      | $9491202.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal International Equity ETF                    | Principal International Equity ETF                    | CUSIP: 74255Y698<br>LEI: 254900IUDNVVDBH14H30 | Long             | EC               | RF                | US        |    712853 | NS      | $22561797.45  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal U.S. Mega-Cap ETF                           | Principal U.S. Mega-Cap ETF                           | CUSIP: 74255Y870<br>LEI: 549300XGM3O583ZPRJ37 | Long             | EC               | RF                | US        |   1333807 | NS      | $90929757.99  | 15.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Listed Infrastructure Fund                     | Global Listed Infrastructure Fund                     | CUSIP: 74256W121<br>LEI: 549300UO9IFEWQKUAV03 | Long             | EC               | RF                | US        |    229799 | NS      | $2736901.58   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Small-MidCap Dividend Income Fund                     | Small-MidCap Dividend Income Fund                     | CUSIP: 74256W469<br>LEI: 54930000PG64KHHYCN32 | Long             | EC               | RF                | US        |    301736 | NS      | $5974368.86   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Preferred and Capital Securities Income Fund | Spectrum Preferred and Capital Securities Income Fund | CUSIP: 74256W485<br>LEI: 549300C5BAH7DRKDHO25 | Long             | EC               | RF                | US        |   1547816 | NS      | $14564944.41  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| International Small Company Fund                      | International Small Company Fund                      | CUSIP: 74256W493<br>LEI: 5493005DM6DKJRUY3N14 | Long             | EC               | RF                | US        |    384604 | NS      | $4884474.81   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| International Equity Index Fund                       | International Equity Index Fund                       | CUSIP: 74256W519<br>LEI: 5493006KEEH2X763W530 | Long             | EC               | RF                | US        |    195417 | NS      | $2700656.07   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Chip Fund                                        | Blue Chip Fund                                        | CUSIP: 74256W535<br>LEI: 549300DIGKZKBG8KG876 | Long             | EC               | RF                | US        |    383105 | NS      | $19637958.92  | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Emerging Markets Fund                          | Global Emerging Markets Fund                          | CUSIP: 74256W618<br>LEI: 5493005LRWTRDOOFXF24 | Long             | EC               | RF                | US        |    384691 | NS      | $13091028.91  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| High Yield Fund                                       | High Yield Fund                                       | CUSIP: 74256W626<br>LEI: 2U04QLKKFWRJC7CSOX80 | Long             | EC               | RF                | US        |   3744008 | NS      | $25309496.05  | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Government Money Market Fund - Class R-6    | Principal Government Money Market Fund - Class R-6    | CUSIP: 74257B639<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4134272 | NS      | $4134272.18   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Government & High Quality Bond Account                | Government & High Quality Bond Account                | CUSIP: N/A<br>LEI: GYQKVAZKEVMXP6Q0OZ65       | Long             | EC               | RF                | US        |    771212 | NS      | $6524453.89   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Income Account                                 | Equity Income Account                                 | CUSIP: N/A<br>LEI: 54930095K9Z8PBKMWU68       | Long             | EC               | RF                | US        |   1661043 | NS      | $51077069.11  | 8.85%             |  |  |  | No            |                  1 | On Loan: No      |
| MidCap Account                                        | MidCap Account                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |     40444 | NS      | $2615513.74   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Real Estate Securities Account                        | Real Estate Securities Account                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |    208543 | NS      | $3732927.13   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

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

**Signature:** Megan Hoffmann

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

**Title:** Vice President and Treasurer